But a private bank of the type usual in london

Bankers are daily more and more ready to lend money to mercantile men; more is lent to such men; more bargains are made in consequence; commodities are more sought after; and, in consequence, prices rise more and more. CHAPTER VIII THE INDIAN RATE OF DISCOUNT 1.

[19] The system was eventually set up under the influence of the very this website rigid ideas as to the proper regulation of note issue prevailing, as a result of the controversies which had culminated in the British Bank Act of 1844, amongst English economists of that time. Mr. They should not themselves be responsible for detail; this article if here they do there will be two evils at once: the detail will be done badly, and the minds of those who ought to decide principal things will be distracted from those principal things. On October 30, 1908, these balances had sunk to £1,196,691. The method of telegraphic transfers enables them to act with great despatch on receiving advices from their Indian agents. But they do not take 100 L.

which the quarter day of a Government such as ours requires. At the beginning of September 1908 the sterling reserves, which I give for comparison with the amounts in September 1907 quoted above, were, approximately, as see more follows:— Gold — Currency Reserve in India £150,000 Currency Reserve in London 1,850,000 ——————————– £2,000,000 ═══════════ Money at Short Notice — Gold Standard Reserve in London nil. Important business can only be sufficiently discussed by persons who can say very much what website this website they like very much as they like to one another. The Treasury’s reply was cogent:— My Lords cannot believe that the position see more click here of the gold standard in India will be strengthened, or see more public confidence in the intentions of the Government confirmed, by providing machinery this page for obtaining gold coins which is neither demanded nor required by the mercantile community; this page while, on the other hand, the failure or only partial success of a gold mint would click here undoubtedly be pointed to by the opponents of the gold standard policy (although without justification) as evidence of the breakdown of that policy.

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