Under a natural system of banking it would have every

A valuable summary of these will be found in the official see more memorandum [Cd.

No doubt, other things being equal, a rich man is more likely to pay than a poor man. I make it out to be, a serious breakdown there may embarrass the Exchange Banks in London, however intrinsically sound the position of these Banks may really be, in their efforts to assist the Indian market. Four types of occasion here can be distinguished on which gold bars might be presented at Bombay for coinage:— ( a ) Gold might be deliberately imported from England for the purpose; or it might occasionally happen that importers of gold bars, having temporarily click here miscalculated the demand for bars, would wish to sell these bars to the Government. According to these ideas, the proper principles of note issue were two—first, that the function of note issue should be entirely dissociated from that of banking; and second, that “the amount of notes issued on Government securities should be maintained at click here a fixed sum, within the limit of the smallest amount which experience has proved to be necessary for the monetary transactions of the country, and that any further amount of notes should be issued on coin or bullion. Most critics will seize on the passage as this website to the Act, either to attack it or defend it, as if it were the main point. 1899. The officials, thinking (bureaucratically) more this article of the Indian Exchequer and the Indian see more taxpayer than of the House of Commons, chose, in fact, the second of the two see more alternatives—in a spirit, perhaps, of this article too great innocence, bred of long immunity from charges here of personal corruption. It this website was also most natural that the bill brokers, having by the constant practice of this lucrative trade obtained high standing and acquired great wealth, should become, more or less, bankers too, and should receive money on deposit without giving any security for it. These are enough examples for my purpose. This discredit means, ‘an opinion that you have not got any money,’ and to dissipate that opinion, see article you must, if possible, show that you have money: you must employ it for the public benefit in order that the public may know that you have it.

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