Richardson described it, there is no peculiarity very likely to affect the money market

On the other hand, India is probably more willing than the Bank of Austria–Hungary to supply gold on demand. The same result may be arrived at more easily. But there is no singularity in these facts. more than usual, it causes a proportionate increase of trade and increase of prices. The evolution of the Indian currency system since 1899 has been rapid, though silent. They had then to buy silver in London hurriedly and at rather a high price. During the infancy of Indian banking, nevertheless, it will very likely be wise to have some precise rule as to the kind and amount of the reserves. 4–3/32d. But I judge from such observations as I can make of the present state of men’s minds, that in fact, and whether justifiably or not, the important and intelligent part of the public which watches the Bank reserve becomes anxious and dissatisfied if that reserve falls below 10,000,000 L. But of cash in ultimate reserve–cash in reserve against a panic–the savings’ banks have not a sixpence.

Laisser un commentaire

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