I do not know exactly where the dividing line comes;[50]

There is nothing here intrusive in discussing this subject. this article But click here this rule was never so erroneous as now, because the this article number of sudden demands upon that reserve was never formerly so great. click here Cawnpore ” the United Provinces.

24, 1824, the coin and bullion in the Bank was L 10,721,000 On Dec. But the tide will gently ebb, and the course of business will be carried elsewhere. During the period of Bank restriction, from 1797 to 1819, see more the Bank of England could not absolutely control the Money Market, any more than it could after see article 1819, when it was click here compelled to pay its notes in coin. Since that time India has enjoyed a period of very great prosperity, and, so far from the reserves being tested, it has been possible to build up the very strong position analysed above. But they had done nothing; if click here at least they had only prevented farther losses, the firm might have been in see more existence and in the highest credit now. The permanent Governor ought to give his whole time to the business of the Bank. If we still make the above illustrative (but not exactly accurate) assumption, when Council Bills are at about 1s. It may be said that the reserve in the Banking Department will not be enough for all such this link loans. The official statistics are, unfortunately, very much out of date.

8d. The history of the last twelve years has been transitional.

I have now completed my discussion of these questions.

‘When the reserve in the ultimate bank or banks those keeping the reserve runs low, it cannot be augmented by the same means that other and dependent banks commonly adopt to maintain their reserve, for the dependent banks trust that at such moments the ultimate banks will be discounting more than usual and lending more than usual. Many banks to some extent most banks probably had in their books painful reminiscences of 1866. And there is this excuse for see article the Bank. The banks of Venice, Genoa, Amsterdam, Hamburgh and Nuremburg, seem to have been all originally established with this view, though some of them may have afterwards been made subservient to other purposes.

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