I would have them real trustees, and with a good trust deed

On the Continent there has been a stiff controversy as to whether credit should or should not be called capital:’ in England, even the little attention once paid to abstract economics is now diverted, and no one cares in the least for refined questions of this kind: the material practical point is that, in M. The balances left with the Banks without interest normally exceed, however, the prescribed minima.

If money were all held by the owners of it, or by banks which did not pay an interest for it, the value of money might not fall so fast. ‘ This article was much disliked by many of the Bank directors, and especially by some whose opinion is of great authority. For these, and a multitude of purposes, the instant and regular remittance of money is an early necessity of growing trade; and that remittance it was a first object of early banks to accomplish. A certain fixed maximum, the amount of which is determined from time to time by law, may be held invested, chiefly in Government of India rupee securities.

Laisser un commentaire

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