They would be rather the agents for these bankers in lending upon certain securities which they

The figures of Mr. And the state of credit is thus influential, because of the two principles which have just been explained. 4d.

If, early in the autumn, a serious failure of the monsoon became apparent, a widespread suspension on the part of the numerous bubble banks, which have been springing up lately all over India,[70] would be a probable consequence. ” Between 1899 and 1906 such loans were made on four or five occasions; but since 1906 there have been none. 6619] from which I have just quoted.

Deposit banking is of this sort.

We must examine the system on which these great masses of money are manipulated, and assure ourselves that it is safe and right. It would have the choice of many bankers, and would not be restricted to any one. The official statistics are, unfortunately, very much out of date. This second group includes the Comptoir National d’Escompte de Paris, the Yokohama Specie Bank, the Deutsch–Asiatische Bank, the International Banking Corporation, and the Russo–Asiatic Bank.

But for twenty-five years from its foundation it had no deposits at all. Readers of Chapter IV. The mercantile community could not on a sudden bear to lose so large a sum of borrowed money; they have been used to rely on it, and they could not carry on their business without it. The Bank of England was almost immediately rewarded for its adoption of right principles by finding that those principles, at a severe crisis, preserved public credit.

And in this subject, fortunately, there is a most conspicuous case near at hand. Everybody in business would bow down before him and try to stand well with him, for he might in a panic be able to save almost anyone he liked, and to ruin almost anyone he liked. │1911. But few have, we think, considered one most remarkable feature of the present time, or have sufficiently examined its consequences. I will conclude this chapter with some statistics. With regard to the probable effect this importation of sovereigns may have on exchange, they are of opinion that Government should not rely on the sovereigns that are being absorbed by the districts in exchange for produce and in the shape of savings coming out at any time in any appreciable quantity to support the stability of the rupee. 1st. 24, 1824, the coin and bullion in the Bank was L 10,721,000 On Dec.

The persons to whom that 2,000,000 L. The reason why the use of bank paper commonly precedes the habit of making deposits in banks is very plain. Thus, as in the United States, the Government maintains an independent Treasury system. 34.

Since the surplus balances in India, beyond those required by the District Treasuries and those deposited with the Presidency Banks, are mainly held in notes, we may neglect them for the present purpose. CHAPTER V COUNCIL BILLS AND REMITTANCE 1. As in all natural trades, what is old and, rotten would perish, what is new and good would replace it. It is essential to the decisions of most business, and not least of the banking business, that they should be made constantly by the same persons; the chain of transactions must pass through the same minds.

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