on the contrary, the evident and intended implication is that under like circumstances the

for his bills, he withdraws from the market. [124] 29. But here a distinction must be made. In a panic, and at a general collapse of credit, no such banker will probably be found. We may presume that, if India ceases to demand fresh gold and begins to disgorge some part of her huge stock, she will do so gradually.

Richardson was only a broker who found money for bills and bills for money.

or 11,500,000 L. It may be said to correspond, therefore, to the London rate for some comparatively short period—say for fortnightly loans.

In regard to the amount of the Gold Standard Reserve, Lord Curzon, in 1904, was inclined to think that £10,000,000 would be a proper figure.

If a merchant has acceptances to meet to-morrow, money he must and will find to-day at some price or other. It is usually about twenty years from the time of a man’s first election that he arrives, as it is called, at the chair. On various occasions, most influential persons, both in the government of the Bank and out of it, have said that such was their opinion.

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