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And it is by that opinion that we wish the Bank of England to be guided. Any two names will satisfy the letter of the Presidency Banks Act; but any two names are not necessarily very good security. In the second place, the Government can postpone for a short time a demand for rupees by refusing to supply them in return for sovereigns tendered in London and by insisting upon the sovereigns being sent to Calcutta. Harrison, when he was Comptroller of Currency, to apply the Jevonian method very fully; and he was also able to corroborate his estimates by reference to the numbers of the older issues, 1835 and 1840 (_e. New men could not carry it on with vigour and efficiency; indeed they could not carry it on at all. If there are not Banks in which it can place secure reliance, it should not seem to rely upon them. Indeed, still better to prevent it, the elder members of the board–that is, those who have passed the chair–form a standing committee of indefinite powers, which is called the Committee of Treasury.

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