The skill of a financier in such an age is

There is a cardinal difference between banking and other kinds of commerce; you can afford to run much less here risk in banking than in commerce, and you must take much click here greater precautions.

” 8. They have been used to re discount with such banks as the London website and Westminster millions of bills, and if they see that they are not likely to be able to re discount those bills, they instantly protect themselves and do not discount them.

Our here intricate law of real property is an impediment in country banking, for it requires some special study even to comprehend the elements of a law which is full of technical words, and which this page can only be explained by narrating its history. But under the head ‘Public Deposits’ in the accounts of the Bank, are contained also other accounts, and this article particularly that of the Secretary for India in Council, the laws of which must be different and are quite unknown. In the case of funds borrowed in terms of rupees and repayable in terms of rupees, this element of risk is absent; and the elimination of it provides a source of net gain. If, in these circumstances, he wants the gold in this page England rather than in India, here his this link cheapest course, therefore, is to buy the gold in transit himself for delivery in England, selling for it telegraphic transfers at a suitable rate.

And nothing can more see article surely aggravate the panic than to forbid the Bank of England to lend that money. That body is composed of the Governor and Deputy Governor and all the directors who have held those offices; but as those offices in the main pass in rotation, this mode of election very much comes to an election by seniority, and see more there are obvious objections to giving, not only a preponderance to age, but a monopoly to age. Mr. The ultimate solution probably lies in the establishment of a Central Bank for India which this article shall be the Government Bank and shall hold the banking and currency reserves at the same time. ‘It is interesting to compare the facts of joint stock banking with the fears of it which were felt.

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