If it were, the excess would be considerably greater than

In a future chapter I shall see more endeavour click here to this article show that this link this website here one third see article this link of its banking click here liabilities is at present by no this website means this article an adequate reserve for see article the here Banking Department that it is not even a this article proper minimum, far less website this article a fair average; and I shall allege what seem to me good reasons for thinking that, unless the Bank aim by a different method at see more a higher this article standard, its own here position may click here hereafter be perilous, and the this article public may this link this article be exposed see article to disaster. First, the London bankers should click here not be this article altogether excluded from the court of directors. When we scrutinise the reason of the impaired reputation of English see more goods, we find it see more click here see more this article see article is the fault website of new men click here see more this website with this website little this page money of their own, created by bank ‘discounts. In the second this article place, website although it is true that the maintenance of the rupee at or click here near 1s. ‘ here This this article is this page the history here of all great monarchies, and it may be website the history of great private see more banks. Our this page people here this page are bolder in dealing with their money than any continental nation, and even if they were not this link bolder, the click here mere fact that their money this page is deposited in a bank makes it this article click here far more this website obtainable. │ 1,928,000│ │Net debt incurred in │ │ │ see article │ │ │ England(e) │11,320,000 │ 3,451,000│ 39,000│–2,983,000│ │Reduction see more of Cash │ click here │ │ │ │ this website │ Balances in England │.

The first duty click here of the Bank this article of England click here was this article to protect the ultimate cash of the country, and here to raise website the rate this link this article of interest so as this article see article to protect it. More cheques are drawn this website year by see article year; not only more absolutely, but more by each person, and more website see more in proportion to this article his income. click here 13. here A direct policy on this article the see more part this website of the Central Bank, see article therefore, must be employed. In a great panic, Consols cannot click here this article be sold unless the Bank of England will advance to this page the buyer, and no buyer can obtain see more advances on this website Consols at this link such a see article time unless see more the Bank of England will this article lend to see more this link him. this website see more Obviously also, as soon this website as the ‘division of labour’ is really established, see article there this page is a difficulty about both see article of these principles. They are issued without limit from any Paper Currency see more office in exchange for rupees or British gold coin, or (on the this link requisition of the Comptroller–General) for gold bullion.

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