But at any rate there should be no doubt whose

Since that time India has enjoyed a period of very great prosperity, and, so see more far from here the reserves see more see more being tested, it has here this website been possible to build here click here up the this page very strong position analysed above. These restrictions this link were originally due this link partly, see article perhaps, this website to a this page see article feeling click here of jealousy on the part this website of the Court of Directors of website the East India Company lest see article the Banks should this article this article compete in click here business (such as foreign exchange) click here which the this website Company this page regarded as its own; but chiefly from a see more proper this page click here wish that semi–official institutions, in a country so dangerous for banking this link as India, should be conducted on the safest possible principles. [74] No tendency whatever was apparent for there to this page this link be withdrawals of money from the banks in India, or for hoarding to reassert itself amongst the class which is see more learning to bank. 4d. But the click here this page Governor of the Bank would only perform quiet functions, which look like routine, though see article they are not, in which there see article is no this link immediate risk of this article success or failure; which years hence see more may indeed issue in this page a crop of bad debts, but which here see more see more any grave persons may make at the time to look fair and see article plausible. It is sometimes said that any foreign country can borrow see article in website Lombard Street at a price: some website this link countries can click here borrow much website cheaper than others; see more website but website all, this article see more it is said, can have some money if this website they this page this page choose to see more see article pay enough website website website for it. The first panic see article of which it is necessary here this link to speak, is that of click here 1825: I hardly click here think this link we should this page here derive much instruction from those of 1793 and 1797; the world has changed too much since; and click here this link during the here long this link period of inconvertible this website currency from 1797 to 1819, the problems here to be solved were altogether different from our present ones. It would be specially unfortunate if see more a see more competitor to the paper currency were to be introduced, here before the virtual abolition of the system of circles this website has see article had time to have click here its full this website effect in the direction of this website this page here this website popularising the use website of notes. click here And click here it this article is in this website this website way that vast see more works are this article this link achieved with this page English aid which but for that aid would see more website never this page have been planned.

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