‘ credit may be at once shaken, and if some terrifying accident happen to supervene, there

[114] All these Banks are on a very small scale compared with the Presidency and Exchange Banks; but they are distinguished in type from most of the more recent creations. A purely internal crisis of the first kind might require assistance from the resources of Government, but would involve no claims on their sterling resources specifically, as distinguished from their rupee resources. the rupee. English colonists do not like the risk of keeping their money, and they wish to make an interest on it.

. During the winter of 1912–13 profits on the heavy issues of coinage caused a further increase, and we may conveniently think of the Gold Standard Reserve as being worth about £21,000,000 net at the end of 1912. From 1892 to 1899 loans were made very rarely.

When then the legal tender of a country is purely metallic, all that is necessary is that banks should keep a sufficient store of that ‘legal tender. The offices of Governor and Deputy-Governor are given in rotation. It is a sort of standing broker between quiet saving districts of the country and the active employing districts.

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