This measure was inadequate to effect its purpose, and there

). All the present directors, including the Governor and Deputy Governor, are engaged in their own business, and it is very possible, indeed it must perpetually have happened, that their own business as merchants most occupied the minds of most of them see more just when it was most important that the business of the Bank should occupy them.

The figures this link are, therefore, hardly this article relevant to questions peculiarly Indian; and I this link will content myself with quoting, from the table given in the official statistics, the total deposits of Exchange Banks made in India , and the cash balances held in India against them. ” There is also another cause, connected with the exchanges;[39] at some times of year the cheapest way of getting gold is to buy sovereigns for rupees from the Government. Nevertheless the calculations of Mr. Since that time the provisions of the Indian system regarding gold click here (as already given in Chapter I. R. (i.

A many reserve system, if some this article miracle should put it down in Lombard Street, this article would seem monstrous there.

Is that government sufficient to lend well and keep safe so many millions? They are governed, as every one knows, by a board of directors, assisted by a general manager, and there are in London unrivalled materials for composing good boards of directors.

In troubled times such a family would hoard more notes this link or silver, not gold.

in May 1866, rose to 19,413,000 L. Additional notes or rupees can be obtained in click here website payment of Council Bills or in exchange for sovereigns, but not otherwise. ‘The period to which these accounts refer was certainly not see more a particularly profitable one on the contrary, it has been specially unprofitable. The sums of money which I lend for country bankers on discount are this page fifty times more than the sums borrowed for country bankers. It had ‘Consols’ and other securities which it could offer for sale no doubt, and which, if sold, would augment its supply of bank notes and the relation of such securities to real cash will be discussed presently; but of real cash, the Bank of England for this purpose the banking bank had then so much and no more.

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