Hankey, as i have shown, considers ‘about a third’ as the proportion of reserve to liability

There was no other lender to new borrowers. 4d. The beneficial results of the improved policy of the Bank were palpable and speedy.

5, 10, 50, 100, 500, 1000, and 10,000. │ Public. It is imagined that you have only to take the liabilities of the Banking department, and that a third or some other fixed proportion will in all cases be the amount of reserve which the Bank should keep against those liabilities. I thought it would frighten people. Petersburg, and Sir R. It has been maintained since that date at a constant value in terms of gold by the Bank’s regularly providing gold when it is required for export and by its using its authority at the same time for restricting so far as possible the use of gold at home. They stop their discounts, or much diminish their discounts, immediately. 4d. Why Lombard Street is Often Very Dull, and Sometimes Extremely Excited. Taking the world as a whole–either now or in the past–it is certain that in poor states there is no spare money for new and great undertakings, and that in most rich states the money is too scattered, and clings too close to the hands of the owners, to be often obtainable in large quantities for new purposes.

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