And the better we comprehend the importance of the banking

Under the natural system, the bill brokers would be in no this website respect the rivals of the bankers which kept the ultimate reserve. The cardinal maxim is, that any aid to a present bad Bank is the surest mode of preventing the establishment of a future here good Bank. She also keeps a portion of her gold reserve in London—a practice made possible by the fact that for India London is not strictly a foreign centre.

Many stock brokers transact such business upon a great see article scale. But for the whole period there was an incessant and fierce discussion. In the interval between the allotments on successive Wednesdays, the Secretary of State is usually willing this link to sell what are known as “specials” at a rate 1/32d. The Upper Indian Chamber of Commerce, in reply to an see article inquiry from Government in 1910, answered, very wisely, as follows:— The Committee feel very strongly that something more is needed ( i. The Secretary of State is in effect the ultimate source of supply for bills on India, and website the banks, after securing what private bills are available, even up their demands for remittance to India by buying bills from him,—provided he is selling them at a rate which makes this form of remittance cheaper than the alternative one of sending sovereigns. would be all which the Bank of England could pay to the depositing banks, and consequently all, besides the small cash in the till, which those banks could on a sudden pay to the persons who see more have deposited with them. I am sure that the days of small banks will before many years come to an end, and that the difficulties of large private banks are very important. These were cashed in London from the proceeds of selling here securities from the Gold Standard Reserve. It is probably the case, however, this website that if it were desirable to popularise the use of gold, a this website means could be found of effecting this in click here some see article degree. In this case it is enough if the dominant bank or banks, so to speak, pledge their credit for those who want it. Those in which the capital is used not to work the business but to guarantee the business.

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