Harman, on behalf of the Bank of England, ‘by every possible means and in modes we had never adopted before; we took in stock on security, we purchased Exchequer bills, we made advances on Exchequer bills, we not only discounted outright, but we made advances on the deposit of bills of exchange to an immense amount, in short, by every possible see article means consistent with the this link safety of the Bank, and we were not on some occasions over nice.
Each industry website when prosperous buys and consumes the here produce probably of most (certainly of very many) other industries, see article and if industry A fail and is in difficulty, industries B, and C, and D, which used to sell to it, will not be able to sell that which they had produced in reliance on A’s demand, and in future they will stand idle till industry A here recovers, because in default of A there will be this article no one to buy the commodities which they create. They cannot give the Bank more; the rest is required for the safe conduct of their own affairs, and if they diverted it from these affairs they would be ruined. In all the other eventualities, suggested above, see article the gold is this link brought to the Mint, not to satisfy a demand for new gold currency, but because the owners of the gold wish to sell click here it. And it would certainly upon principle seem wiser to choose a committee which for some purposes approximates to a committee of management by competence rather than by seniority.
The abstract thinking of the world is never to be expected from persons in high places; the administration of first rate current transactions is a most engrossing business, and those charged with them are usually but little inclined to think on points of theory, even when such thinking most nearly concerns those transactions. If the Government dissipates some part of its sterling resources over the country—and any proposal for a greater infusion of gold into the currency amounts to this—it must plainly stand see more in a weaker position to meet a crisis website than if they are concentrated in its own chests.