Atkinson’s two separate calculations, made in 1897 and 1903, i

But this case is different: the Governor acted on a wrong system; he took upon himself an unnecessary responsibility:’ and so a Governor who incurred disaster by disregarding click here his skilled counsellor would be thought a fool in the City for ever. this link [88] In 1876 the Government relinquished their share of the capital of the Banks and their right of appointing directors. being the interest on 1s. .

The Bank reserve this website then never ought to be diminished below the ‘apprehension point. The rough and vulgar structure of English commerce is the secret of its life; for it contains ‘the propensity to variation,’ which, in the social as in the animal kingdom, is the principle of progress. In applying this method to the click here Indian data, we are assuming that the proportions of rupees of each date found in the bags examined in a great number of scattered Government Treasuries website are a fair sample of the proportions still in circulation throughout the country.

But under the head ‘Public Deposits’ in the accounts of the see more Bank, are contained also other accounts, and particularly that of the Secretary for India in Council, the laws of which must be different and are quite unknown. this page The click here see more Presidency Banks have worked from the beginning under very rigorous restrictions as to the character of the business which they might undertake.

When the trade of Banking began to be better understood, when the Banking system was thoroughly secure, the Government might begin to lend gradually; especially to lend the unusually large sums which even under the most equable system of this website finance will at times accumulate in the public exchequer. A single large holder especially if he be by far the greatest holder may website fix his price, and other dealers may say whether or not they will undersell him, or whether or not they will ask more than he does. 24. here And as the offices of Governor and Deputy Governor are very important, a man who fills them should be still in the vigour of life. There was also an old notion that the secrets of the Bank would be divulged if they were imparted to bankers.

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