Being only wanted as a moral influence, it need not be more than is necessary to secure that influence. Atkinson’s estimate of the circulation in 1900 is nearer the truth than Mr. e.
The most recent statistics of the use of 10–rupee notes in the Punjab and in Bombay, as compared with Bengal, strongly suggest that the recent development of gold circulation in these provinces has been at the expense of these notes. If we still make the above illustrative (but not exactly accurate) assumption, when Council Bills are at about 1s.
it may pay to get it in India. represents the interest on 1s. ‘ In 1825 there were speculations in companies nearly as wild, and just before 1866 there were some of a like nature, though not equally extravagant. The balance sheet turned out to be false, and one–third of the assets had been advanced against worthless security to a firm in which the directors were interested. A very good manager and very good board of directors can, without unreasonable difficulty, be provided for a bank at present in London.