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Which he judged to be extremely expedient for a literary man, especially in times of Jesuit and other tribulation. 'You have only to watch, he would say, 'what scrips, public loans, investments in the field of agio, are offered; if you exert any judgment, it is easy to gain there: do not the stupidest of mortals gain there, by intensely attending to it?
Before this resolution was taken, the market price of bank money used sometimes to rise so high as nine per cent. agio, and sometimes to sink so low as par, according as opposite interests happened to influence the market.
In consequence of those different advantages, it seems from the beginning to have borne an agio; and it is generally believed that all the money originally deposited in the bank, was allowed to remain there, nobody caring to demand payment of a debt which he could sell for a premium in the market. By demanding payment of the bank, the owner of a bank credit would lose this premium.
One shilling and twopence were lost in agio, in exchanging my small remaining stock of Prussian dollars into Austrian gold. I may mention, that the binding of an 18mo. volume in boards, covered in paper, cost one groschen, eight pfennige, or, as nearly as it can be calculated, twopence in English money.
All the supplies were granted, and among other articles, the sum of two-and-twenty thousand six hundred and ninety-four pounds, seven shillings and sixpence, for the agio or difference of the subsidies payable to the crown of Denmark, in pursuance of the treaty subsisting between the late king and that monarch; but this was not obtained without a violent dispute. Mr.
If he has none of his own, he must buy them of those who have them. The holder of a receipt, when he purchases bank money, purchases the power of taking out a quantity of bullion, of which the mint price is five per cent. above the bank price. The agio of five per cent. therefore, which he commonly pays for it, is paid, not for an imaginary, but for a real value.
Silly and sanguinary enough were their schemes, God knows! and bootless enough had they succeeded; for nothing nourishes in the revolutionary atmosphere but that lowest embodiment of Mammon, "the black pool of Agio," and its money-gamblers.
To prevent the stock-jobbing tricks which those opposite interests might sometimes occasion, the bank has of late years come to the resolution, to sell at all times bank money for currency at five per cent. agio, and to buy it in again at four per cent. agio.
It was, therefore, with a bitter smile that he listened to my imperfect answers concerning the state of commerce in France, and unmercifully permitted me to involve myself deeper and deeper in the mysteries of agio, tariffs, tare and tret; nor can I charge my memory with his having looked positively angry, until he found me unable to explain the exact effect which the depreciation of the louis d'or had produced on the negotiation of bills of exchange.
The money of such banks, being better than the common currency of the country, necessarily bore an agio, which was greater or smaller, according as the currency was supposed to be more or less degraded below the standard of the state.
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