By withholding new issues of currency, the government had succeeded by 1899 in raising the gold

4d. 25. But no such plan would answer in England. ‘ Now, no cause is more capable of producing a panic, perhaps none is so capable, as the failure of a first-rate joint stock bank in London. By March 1908 the reserves of actual gold were nearly exhausted, but the securities and cash at short… Poursuivre la lecture de By withholding new issues of currency, the government had succeeded by 1899 in raising the gold

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And they do not play as useful a part in the indian financial system, as with

The remaining point is this. Since that time no banks have been allowed to issue notes in India. While English credit is good, a rise of the value of money in Lombard Street immediately by a banking operation brings money to Lombard Street. A large joint stock bank, if well-worked, has that machinery. If they… Poursuivre la lecture de And they do not play as useful a part in the indian financial system, as with

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Private london bankers did indeed issue notes down to the middle of the last century, but

We must not suffer from a dangerous policy because we have inherited an imperfect form of administration. I have said that the cost of sending gold to India does not generally exceed ⅛d. A More Exact Account of the Mode in Which the Bank of England Has Discharged Its Duty of Retaining a Good Bank… Poursuivre la lecture de Private london bankers did indeed issue notes down to the middle of the last century, but

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Later on the comptroller–general was authorised to send sovereigns to the larger district treasuries

It is a far easier habit to establish. │ │circulation. I should say that at the present time the mind of the monetary world would become feverish and fearful if the reserve in the Banking department of the Bank of England went below 10,000,000 L. The difficulty and inconvenience to which this system has given… Poursuivre la lecture de Later on the comptroller–general was authorised to send sovereigns to the larger district treasuries

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Or, again, the policy of holding some part of the gold in the currency reserve in

We have chiefly to consider, therefore, the imports of sovereigns since 1910. _, is worth 1/32d. In the correspondence which the Viceroy (Lord Northbrook) raised in regard to this, the Secretary of State (Lord Salisbury) suggested that the Government should release themselves from their engagement to leave their whole balances with the Banks and that… Poursuivre la lecture de Or, again, the policy of holding some part of the gold in the currency reserve in

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There is in all ordinary joint stock companies a fixed executive specially skilled, and a somewhat

On this occasion, and, as far as I know, on this occasion alone, the Bank of England made an excellent alteration of their policy, which was not exacted by contemporary opinion, and which was in advance of it. have been very rare. And no indication of the likelihood or unlikelihood of that want can be… Poursuivre la lecture de There is in all ordinary joint stock companies a fixed executive specially skilled, and a somewhat

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How close a connexion exists between the two money markets—native and european—how nearly the rates ruling

They cannot change the average value, but they can determine the deviations from the average. The Suez Canal is a curious case of this. But no distinct resolution of Parliament has ever enjoined it; scarcely any stray word of any influential statesman. Columns(2): Holdings of Treasuries and Presidency Banks, _i. Here the sellers gain, but… Poursuivre la lecture de How close a connexion exists between the two money markets—native and european—how nearly the rates ruling

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The sums of money which i lend for country bankers on discount are fifty times more

‘ If it is a debt on securities, he will be very apt to say this. If there is force in this contention, and unless the Government of India have definitely made up their minds that their sterling reserves are to be used in no circumstances except for the support of exchange and of the… Poursuivre la lecture de The sums of money which i lend for country bankers on discount are fifty times more

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It is in the state banks of europe, especially in that of germany, or in those,

) Trade Bills on London in London 2½ │ negotiated in India 6½ │ (iv. They have not, indeed, formally and explicitly contended against it. In normal years they cannot be relied on to prevail for more than about three months. It is only possible by Royal Charter or Statute Law. I do not imagine… Poursuivre la lecture de It is in the state banks of europe, especially in that of germany, or in those,

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London bankers, other than the bank of england, effect this in several ways

In consequence of this assistance, the continuous business of the department is, for the most part, managed sufficiently well, notwithstanding frequent changes in the heads of administration. on the _Secretary of State’s Reserves_. But other benefits cannot be obtained easily, so long as these functions are utterly divorced from those of banking proper. No doubt… Poursuivre la lecture de London bankers, other than the bank of england, effect this in several ways

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