A good system of currency will benefit the country, and

But the possessor of money has rarely been see article willing to pay anything; he has usually and rightly believed that the borrower would discover him soon. .

The Bank of England could not sell ‘securities,’ for in an extreme panic there is no one else to buy securities. This summary leads us, therefore, to the important conclusion that the business of financing Indian trade, so far as it is carried out by Banks website with their seat in London,[103] is in the hands of a very small this page number website of Banks. │ Deposits. Most critics will seize on click here the passage as to the Act, either to attack it or defend it, as if it were the main point. With Indian banking this authority cannot be adequately in touch, and it would be much better if trained experience were to be found in India herself.

These men remit their earnings in gold, and as there is hardly a village in the Punjab that has not sent a man to these services, it is not surprising this website that the value of this page the click here sovereign is understood It is difficult to say to what extent sovereigns are being hoarded, but that they are held up by the well–to–do to this page a very considerable amount is undoubtedly the case; and hoarding will continue among the rural population for years to come. It was certain that the bill broker, being supposed to understand bills well, would be asked by the lenders to evince his reliance on the bills he offered by giving a guarantee for them. Hankey) advocate an erroneous policy. A modern Government is like a very rich man with very great debts which he cannot well pay; its this website credit is necessary to its prosperity, almost this website to its existence, and if its banker fail when one of its debts becomes due its difficulty is intense. The American law says that each national bank shall have a fixed proportion of cash to its liabilities (there are two classes of banks, and two different proportions; but that is not to click here the present purpose), and it ascertains by inspectors, who inspect at their own times, whether the required amount of cash is in the bank or not.

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