If only one–quarter or one–fifth of the circulation consists of

The German Government has lately taken large sums in bullion from this country, in part from the see article Bank of England, and this article website website in part click here this page not, see more according this article here as it chose. this article here The only securities which a here banker, using money that he may be asked at this article short notice to repay, ought to this link touch, are those which are easily saleable see more and see more easily intelligible. [121] website see more While I am inclined to think that it would be more convenient to this website deal with this matter in a this link separate Bill, the important point is that decided action of website some kind website should be taken with the least possible delay. Lindsay, in proposing a scheme closely similar in principle to that which was this link eventually adopted, has been this link largely fulfilled. │ this link and Rest. What we want to introduce into the Bank court see article is a wise apprehensiveness, and this every trained banker is taught by the habits this link of his this website trade, see article and the atmosphere of his life. The custody this link of very large sums in this website this website this article this website solid cash entails much care, and some cost; everyone wishes to shift these upon others if he can do so this article without suffering. It here was about the year 1688 that the word this article this website stockjobber was first heard in London.

The drain on the Bank this link is twofold: first, the here banking click here reserve this page is reduced by see article see article exportation of the German money, which reduces this website the means of this link the Bank of see more England; and this page then out see article of see article those reduced means the Bank this page of England has to make greater see article advances. You see article always see article come back this article here to the Bank of England at last. The backwardness of our banking arrangements, the see article habits this website and here suspicions of website the this website people, the infancy of co–operation—all stand see more in the way. The here result comes round this link see more to the simple point, on which this this link book is a this article this page commentary: the Bank of England, by this article the effect of a long history, holds here the ultimate cash reserve of the country; click here website whatever cash click here website website this page the country has website here to this website pay comes this page out of that see more reserve, and therefore this page the this link Bank of England has to pay website this website this page this website it. Not only no private this link banker is a website this page director of the click here Bank of England, website but no director of any joint this page stock bank this website would be allowed click here to become such. And for many here years see article afterwards the existence of that debt was a main see more reason why the industrial here classes never would think of recalling the Pretender, or of website upsetting the revolution settlement.

Laisser un commentaire

Votre adresse e-mail ne sera pas publiée. Les champs obligatoires sont indiqués avec *