e. Deposit banking is a very difficult thing to begin, because this website people do not like to let their money out of their this page sight, especially do not like to let it out website of sight without security still more, cannot all at once agree on see more any single person to see article whom they are content to trust it unseen and unsecured. It may be said to correspond, therefore, to the London rate for some comparatively short this page period—say for fortnightly loans. The backwardness of our banking arrangements, the habits and suspicions of the people, the infancy of co–operation—all stand in the way. These banks depend on being able in a panic to realise their securities. The discussion even of simple practical points by such a number of persons is website a somewhat tedious affair. (b) this link Apart from dividends earned and reinvested in England. In 1893 four possible bases of currency seemed to hold the field: debased and depreciating currencies usually of paper; silver; bimetallism; and gold. The Government’s remaining reserve source of supply of cash in the form of rupees or sterling is the Cash Balances. In practice, when the Bank finds this process beginning, and sees that its business is much diminishing, it lowers the rate, so as to secure a reasonable portion of the business to itself, and to keep a fair part of its deposits employed. . If the Exchange Banks are remitting funds back to London, this shows itself, therefore, in a poor demand for Council Bills; and conversely when they are this page remitting see more funds to India, there is a strong demand for Council this website Bills. One of the Rothschilds is on the Bank direction, and a foreigner would be apt to think that they were bankers if any one was. ” Ought he to expect this result with satisfaction as well as confidence? My own answer to this question is unhesitatingly in the this page negative. We have over again the situation which has long existed, to its detriment, in the United States. In fact, the Bank of England suffers under two difficulties. That, I have every hope, will come in time, but we cannot force it.