We may presume that, if india ceases to demand fresh gold and begins to disgorge some

The Gold–Exchange Standard in the form in which it has been adopted in India is justly known as the Lindsay scheme. The relative importance of notes and rupees[28] in supplying the seasonal needs of trade is well shown in the following table:— NET ABSORPTION (IN LAKHS OF RUPEES) OF CURRENCY INTO CIRCULATION (+) OR RETURN OF CURRENCY FROM CIRCULATION (–). You must take what you can find of it, and work with it if possible. These ‘circles,’ as they are called, now seven[21] in number, correspond roughly to the principal provinces of India, the offices of issue being as follows:— Calcutta for Bengal, Eastern Bengal, and Assam. 6619] from which I have just quoted. In a country such as India, where all available resources are required for capital expansion, and where it is not sound or humane policy to burden the present overmuch for the sake of the future, it is nearly as important to avoid extravagance in the reserve policy as to avoid undue parsimony.

Deposits are made with the bankers and bill brokers in Lombard Street by the bankers of such counties as Somersetshire and Hampshire, and those bill brokers and bankers employ them in the discount of bills from Yorkshire and Lancashire.

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