Hankey, published in the ‘times’ an elaborate letter, saying again

in its till against liabilities of nearly three times the amount. CHAPTER III PAPER CURRENCY 1. But they undoubtedly had the result that the authorities published to the public much ampler details than were previously website available. At the slightest symptom of panic many merchants this website want to borrow more than usual; they think they will supply themselves with the means of meeting their bills while those means are still forthcoming. That department see more had here this link on the 29th day of December, 1869, liabilities as follows: Public deposits 8,585,000 L Private deposits 18,205,000 L Seven day and other bills 445,000 L Total 27,235,000 L and a cash reserve of 11,297,000 L. But the amount which it is necessary to remit, apart from extraordinary remittances to be dealt with later, is usually less than this; for the amount of new capital raised by Government in England usually exceeds their capital expenditure in this country this article on repayments and on railway materials, etc. The rush would be for bank notes; those that could be obtained would be carried north, south, east, and west, and, as there would not be enough for all the country, the Banking Department would soon pay away all it had. A Prime Minister, or a Chancellor of the Exchequer, or a Secretary of State must explain his policy and defend his actions in Parliament, website and the discriminating tact of a critical assembly abounding in experience, and guided by tradition will soon discover what he is. . . ‘ In England especially, except a few sums this article of no very considerable amount held by bullion dealers in the course of their business, there are no sums worth mentioning in cash out of the banks; an ordinary person could hardly pay a serious sum without going to some bank, even if he spent a month in trying. I do not believe that we should always get the best man here for the post; often I fear that we should not even get a tolerable man. this link this link

At any rate, I have pointed out what I think grave defects in it. Ordinarily discredit does here not at first settle on any particular bank, still less does it at first concentrate itself on the bank or banks holding the principal cash reserve.

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