│ ├───────────┼───────────┼────────────┼────────┤ │ 1897 │ nil │ nil │ nil

The same kind this article of see article thing occurred in Russia. [52] If the purchaser chooses here transfers, the effect to see article him is that see more he gets this website his rupees a fortnight earlier in India and pays for this privilege a sum equal to 5 per cent on the money for a click here this link fortnight. 4d. ‘ see article This website see article is not this article see more indeed a direct withdrawal of here money on deposit, but its principal effect click here is this link identical.

As is often the this article case this article this website when banking is under discussion in other countries, those who are in a position to know are not in a position to speak, while those who are click here in a position to speak are not in a position click here to this link this link know. 2 will not give them click here website up this article till he this page gets his money, this website No. Part of the reserve should, therefore, be lent this article out in India. It is see more usually about twenty see article years from the time this website of a man’s first election this page that he here arrives, as it is called, at the this link chair. The borrowed money which they here have is see more in see more large sums, borrowed for terms more or here this page less long. There would be nothing shameful in this link this—though possibly here some expense.

The credit click here see article of the state had see more been website click here this link so used in England: though there had lately been a civil war this article and see article several revolutions, the honesty of the English see article Government was trusted implicitly. Atkinson. 2. website The last of them—the making this website see more it easier to this article turn hoards into money—is very likely desirable. see article

At the beginning of September 1908 the sterling this link reserves, which this link this page I give for comparison this link with the website amounts in this page September 1907 this page quoted above, this article this article were, approximately, this website as follows:— Gold this website — Currency Reserve in website India click here £150,000 Currency Reserve in London 1,850,000 this page ——————————– £2,000,000 ═══════════ see article Money at Short see more Notice this link this page — Gold Standard this link click here Reserve in London website nil. In the this link three panics since here this page 1844 in 1847, 1857, see more see article this page and see more 1866 the policy of the this article Bank has here been more or less affected this link this website by the Act of 1844, and I cannot therefore discuss it see more this link fully within the limits website this article which here I this link have pre scribed for myself.

In 1825, the entire concern see more almost suspended payment; in website 1797, it actually did so.

Accordingly, the other bankers of London, having perfect confidence this link in the Bank of England, this website get that bank see article to keep website their reserve for them.

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