Paper money and national distress: William Huskisson and the early theories of credit, speculation and crises

This paper examines the explanation of commercial crises offered by William Huskisson in 1810 in the wake of the debate on the Bullion Report. Huskisson argued that the suspension of convertibility made it possible to extend issues of paper currency beyond its proper limits. Such an expansion, being in the interest of all parties concerned, would actually take place and stimulate excessive speculations, which would eventually prove unsustainable and bring generalized ruin and distress. Although some elements of this explanations were not new (having been anticipated by writers sucha as James Currie in 1793, William Roscoe in 1793, William Anderson in 1797 and an anonymous in 1796), Huskisson's explanation is more systematic and better organized, and his emphasis on the endogenous character of the crisis and on the instability of the dynamics of trade and credit makes it an interesting foreshadower of the theories of crises that were advanced half a century later.

Frank McCaughan's Pharmacy - James McCaughan

McCaughan's pharmacy in this project will work with Rural Support to address the needs of farmers, identify causes of stress, improve their ability to manage stress and increase their access to services available to them. Infomation events will be held at the local mart and the pharmacist will be on hand to offer 1-1 support and signposting. An aspect of this project is to train up mart staff so to make it sustainable on a longer term basis.

Première réunion de la ligue des nations à Londres, Albert Thomas et M. [Léon] Bourgeois au Palais St James : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 57999