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Join date : 12/01/2011

PostSubject: the circulation   Wed 12 Jan 2011, 13:26

the circulation

In Scotland, each year the circulation becomes very much reduced in Marchit increases in Maysubsequently falls, though not as low as in March, and increases again to touch the highest point in November. Most of the payments in Scotland are made in May and November. These fluctuations occur each year, whether the banks increase or diminish tory burch flats in number; proving that they are produced by the wants of the tory burch shoes community, and not by the wishes or action of the banks. Similar results in regard to the fluctuations of the currency occur in England and Ireland. In England the highest circulation is in April, and the lowest in August, also following the movements of commerce, industry, and agriculture. In Ireland the lowest circulation is in August and September, just before the harvests and the sales of cattle ; and the highest in January, when the cattle and crops are sold." When the Government determined on suppressing the small note issues in England, the ministers said it was their intention to extend the measure in a shorttime to Scotland aiid Ireland. As soon as the ministerial intentions were known in Scotland, a tory burch sale great ferment was excited, and such an opposition was organized that the ministry were obliged tory burch outlet to consent to appoint committees of both Houses on the subject. These committees sat during the spring of , and investigated the whole subject of Scotch banking at great length, which had been very little understood in England before that time; and the result was so eminently favorable to the Scotch banking system, that the ministry abandoned their intention of attempting to alter it."

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