# Page:The Real Cause of the High Price of Gold Bullion.djvu/33

It is understood that silver of ${\displaystyle {\tfrac {1}{48}}}$ alloy, forms the deposit of the Bank of Hamburgh; and Bank silver is always Bank silver, and it has a fixed denomination of value in banco money. But though that denomination of value remains fixed, and the price of banco money, remains nominally fixed, yet the silver when taken from the bank, sells not at banco price, but at market price. Whilst the silver remains in the Bank, its price is fixed; when taken from the Bank, its price varies in the market according to demand, and commands a greater or less quantity of the coin for which it is sold. The Bank itself takes in silver at one price, and issues it again to the owners at a higher price, and the owner of course never takes his silver out of the Bank but when thecourse