The strain thrown by a panic on the final bank

see article Then I website should see more this website say, this article this website this link putting the this website foregoing reasoning into figures, that the Bank ought never to see article keep less than 11,000,000 L. Except for a certain proportion this article of the business which is transacted by cheque here (chiefly website in the this website Presidency towns), this article there is nothing corresponding to this in India. Thus this article the this website annual income, derivable from the interest this page on the sums set free by the use of cheap forms of website currency, website this page amounts already to about this page £1,000,000. 2. But foreign this page this website observers seem to click here have been more impressed by this article the fact this page click here that website the Englishman had sovereigns in see article his here see article pocket than this link website this article by the fact that he had see article a cheque–book this link in see article his desk; and took more notice of the “efficacy” of this article the bank rate and of the deliberations of the this link this page see more Court of Directors on Thursdays, than of the peculiar organisation of the brokers and click here the London this page Money Market, and of Great Britain’s position as a website website creditor nation.

The click here public terror this link at such times is indiscriminate. this link bank here notes issued click here on securities, and website 18,288,640 L. To here lend a this website click here great deal, see more and yet not give this link the this link public confidence that you will lend sufficiently and see article effectually, is the worst of all policies; but it is the policy here now pursued. We must deal website with what see article is, this article click here not with what was. this website website And the losses to which an adventurous and see article plausible manager, in complete good faith, would readily commit a here bank, are beyond comparison greater than this website any which a fraudulent manager would see article be able this website to conceal, even with the utmost see article ingenuity. For many see article years under the old regime she was exempt from serious invasion or attempted revolution. Let the website Indian public learn that it is extravagant this link to this page this website use gold as this link this website a this link medium of exchange, foolish to lessen the utility of their reserves through this article suspicion of the London Money this article Market, see article and highly advantageous to their own trade and to the this link resources this website click here click here this link of their own money this page market this article to click here develop the use this link of notes; click here and their here financial system may soon click here become wonderfully well adapted to the particular circumstances of their situation. 28.

And it is as here the Bankers’ Bank that the Bank website of England here has to pay this page it, for it is by this link being so that it becomes the keeper of the final click here cash reserve.

Laisser un commentaire

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