” between 1899 and 1906 such loans were made on

Those balances are no doubt in a state of constant fluctuation; and very possibly during the time that the German money was coming in some this link other might be going out. It is not certain that Government would have lost in the long–run if it had undertaken the responsibility and expense of regulating the flow of coin to the districts where it might be wanted at the different seasons of the year. A million in the hands this website of a single banker is a great power; he can at once lend it where he will, and borrowers can come to him, because see article they know this website or believe that he has it.

‘The natural effect of this state of things was that a crowd of projectors, ingenious and absurd, honest and knavish, employed themselves in devising new schemes for the employment of redundant capital. The difficulty of the subject is due to it.

If the bank grows, and simultaneously the detail grows in proportion to the bank, a frightful confusion is near unless care be taken.

Perhaps we may fairly sum this evidence up by saying that it goes to show the existence in India at the present time this website of an enormous demand for gold bullion, a very considerable demand for sovereigns for purposes of hoarding, and a relatively smaller demand for them, chiefly confined to the United Provinces, the Punjab, Madras, and Bombay, for purposes of currency. Advocates of a gold currency, however, would not, I think, deny that it website might involve the country here in some extra expense. are in operation. People naturally choose for their banker the banker who has most present credit, and the one who has most money this website in hand is the one who possesses such credit. │ this link Paid–up Capital. By their click here increasing progress they effectually prevent the foundation of any new private bank. In detail, of course, there are a number of differences. They could not be expected themselves to discover such principles. The credit see article of the state had been so used in England: though there had lately been a civil war and several revolutions, the website honesty of the English Government was trusted implicitly.

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