Most men of business think–‘anyhow this system will probably last my time

The accounts preceding the war in North Germany showed the circulation of the issuing banks to be 39,875,000 L. If the reserves were somewhat lower than this, I do not think it would necessarily be blameworthy to leave them so, provided it would prove a very burdensome thing to raise them. │ ├──────┼────────┼──────────────────–┼────────────┼──────────–┤ │ 1890 │ 5 │ £340,000 │ £1,810,000 │ £370,000 │ │ 1895 │ 9 │ 630,000 │ 3,780,000 │ 640,000 │ │ 1900 │ 9 │ 850,000 │ 5,380,000 │ 790,000 │ │ 1905 │ 9 │ 1,080,000 │ 7,990,000 │ 1,160,000 │ │ 1906 │ 10 │ 1,270,000 │ 7,700,000 │ 1,000,000 │ │ 1907 │ 11 │ 1,950,000 │ 9,340,000 │ 1,300,000 │ │ 1908 │ 14 │ 2,060,000 │ 10,840,000 │ 1,630,000 │ │ 1909 │ 15 │ 2,360,000 │ 13,660,000 │ 1,860,000 │ │ 1910 │ 16 │ 2,510,000 │ 17,110,000 │ 1,870,000 │ └──────┴────────┴──────────────────–┴────────────┴──────────–┘ 22. Its practice may be compared with that of the branches of the Reichsbank.

But the effects of the change have been very remarkable. ‘The Greeks,’ said M. ‘The main classes of joint stock companies which have answered are three:–1st.

As has been explained, a new man, with a small capital of his own and a large borrowed capital, can undersell a rich man who depends on his own capital only. So late as 1845, Sir R. And as the number of ‘good’ bills–bills which sound merchants know to be good–does not rapidly increase, and as the market rate of interest was often less than 5 per cent, these checks on over-issue were very effective. What is necessary to meet their acceptances they will borrow, pay for it what they may; they had better pay any price than permit those acceptances to be dishonoured.

In deference to a public opinion which does not clearly understand the purpose of the Reserves or the limitations under which the Secretary of State must needs act in managing his sterling resources, it may be worth while to allay a groundless suspicion by the compromise of holding a fair proportion of the reserve of actual gold coin in India herself. ┌────────────────────────┬─────────────┬──────────┬──────────┬──────────┐ │ │ 1909–10. It may be replied, that though our instant liabilities are great, our present means are large; that though we have much we may be asked to pay at any moment, we have very much always ready to pay it with. Let us suppose that exchange between London and Calcutta were fixed at 1s. A curious book, lately published, has enabled us to follow the course of this in detail. 10 and Rs.

Laisser un commentaire

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