‘is the governor of the bank of the same opinion

‘The Bank of England, it is true, does not seem to pay so much as other English banks in this way of reckoning.

A large part of these are the deposits of bankers, and they would not consent to help the Bank of England in a policy of isolation. If they were to start the busy website season with a surplus of 500 or 600 lakhs over what this article was considered a safe minimum, the reasonable demands of prudence would have been fully satisfied. Mr. This goal, if it was their goal, the Government of India have never attained. The Treasury’s arguments were, as they deserved to be, successful. , these bills being cashed in London out of the Gold Standard Reserve. A general website rise of prices is a see more rise only in name; whatever anyone gains on the article which he has to sell he loses on the articles which he has to buy, and so he is just where he was. 3–29/32d. [102] Indian Exchange Banking is no business for speculative or enterprising outsiders, website and the large profits which it earns are protected by established and not easily assailable advantages. If this action stayed, as it well might, the run on the banks in India, and the difficulties of the Exchange Banks in raising this page temporary loans in London, the Government might with a very moderate loss of funds (the mere click here announcement click here that they were available being sufficient) find itself in a far more favourable position for dealing with the subsequent depression; whereas after a delay a similar announcement might eventually be forced upon them, and if the panic had then gained impetus, the £10,000,000 quickly lapt up.

On the wisdom click here of the directors of that one Joint Stock Company, it depends this link whether England shall be solvent or insolvent. The District Treasuries do not usually contain more resources than they require for ordinary transactions, and the balances in excess of immediate requirements, which are transferred to the click here Reserve Treasuries, are mainly held in the form of notes. India keeps a website somewhat higher proportion of her reserves in foreign credits, and keeps some part of these credits in a less liquid form.

Laisser un commentaire

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