ASWN #846 THE WEALTH OF NATIONS

http://en.wikisource.org/wiki/The_Wealth_of_Nations - them. But a banking company, which lends money to G.ed. p305 G.ed. p306 The Wealth of Nations Adam Smith perhaps five hundred different people, and of which the attention is continually occupied by objects of a very different kind, can have no regular information concerning the conduct and circumstances of the greater part of its debtors beyond what its own books afford it. In requiring frequent and regular repayments from all their customers, the banking companies of Scotland had probably this advantage in view. Secondly, by this attention they secured themselves from the possibility of issuing more paper money than what the circulation of the country could easily absorb and employ. When they observed that within moderate periods of time the repayments of a particular customer were upon most occasions

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YouTube | November 25, 2008

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