It might even be necessary this page for him to remit gold backwards and forwards himself, thus bearing the whole expense of which the Exchange Banks were being relieved. 20. They augment trade and website production, and so are plainly beneficial, except where this website by mistake the wrong things are produced, or where also by mistake misplaced credit is given, and a man here who cannot produce anything which is wanted gets the produce of other people’s labour upon a false idea that he will produce it. Bannu. 4d. On the broad historical facts relating to Indian currency, I do not intend to spend time.
In what form the best paper currency can be supplied to a country is a question of economical theory with this link which I do not meddle here. But its effect was very important.
│ Deposits. At the present time the arguments in favour of a State Bank for India are very strong,—far stronger than they were in 1867 or even in this link 1898. But when their stocks are falling low and there are apparently signs of demand in the immediate see article see more future, how long can coinage be delayed safely? To answer this we need to know the maximum rate of output of the Mints, and the maximum rate of absorption of new currency so far experienced. Because being created by state aid, it is more likely than a natural system to require state help.
They have not, indeed, formally and explicitly contended against it. But the house of Rothschild is represented on the this page Bank direction. The Chamber “are able to state authoritatively that sovereigns are becoming popular and see more that their circulation is increasing.
CHAPTER VI. It makes an immense profit, but then its capital is immense too. Lindsay’s, in 1878 and subsequently, on the regulation of a Gold Standard—should both have come from Secretaries of click here the Bank of Bengal, not from high officials of State. With Indian banking this authority cannot be adequately in touch, and this link it would be much better if trained experience were to be found in India herself. This constitutes a not negligible claim on their general reserves.