The perturbation through the country which their failure caused in


The establishment of these Banks in the other Presidencies put an end to the this link possibility that the Bank of Bengal might become a Bank for all India. , than in click here other Companies) in the case of Banks where the capital and confidence, not only of the shareholders but of the depositors, are involved. They had then to buy silver in London hurriedly and at rather a high price.

2. Further, it is certain that a large number are melted every year see more and used as bullion. When we say that the Indian Bank Rate is this article apt to be high, we mean, not that the average effective rate over the whole year is see more high, but that the maximum rate in each year, effective for periods of shorter or longer duration, is generally high.

and all this would be changed. 875 │ here ·281 │ │1910–11 │ 26,500,000 │ 16·061 │ 16·156 │ 15·875 │ ·281 │ │1911–12 │ 27,100,000 │ 16·082 │ 16·156 │ 15·937 │ ·219 │ │1912–13 │ 25,700,000 │ 16·058 │ 16·156 │ 15·970 │ ·186 │ └——────——┴————────────————–┴—────———┴—────———┴——────——┴——──────————┘ CHAPTER VI THE SECRETARY OF STATE’S RESERVES AND THE this page CASH click here BALANCES 1.

Cawnpore ” the United Provinces. This is the exact reverse of the practice which Mr. They ought not to do it to serve others; they ought to do it to serve themselves. And no indication of the likelihood or unlikelihood of that want can be found in the books of the Bank of England. Great authorities have been unwilling to admit it. But at present the ruin of one of these great banks would greatly impair this website the credit of all.

But if we see that the Gold–Exchange Standard is not, in the currency here world of to–day, anomalous, and that it is in the main stream of currency see article evolution, we shall have a wider experience, on which to draw, in criticising it, and may be this page in a better position to judge of its details wisely. Upon grounds of probability a fictitious sketch was made of the possible origin of things existing.

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