When the trade of banking began to be better understood, when the banking system was thoroughly

What is most feared at such moments of susceptibility is the destruction of credit; and if any grave failure or bad event happens at such moments, the public fancy seizes on it, there is a general run, and credit is suspended.

Making no loans as we have seen will ruin it; making large loans and stopping, as we have also seen, will ruin it. By the law of England the legal tenders are gold and silver coin (the last for small amounts only), and Bank of England notes. _—(With the increase of gold) the issues of notes have correspondingly decreased.

The English Government, far from keeping cash from the money market till the position of that market was reasonably secure, at a very early moment, and while credit of all kinds was most insecure, for its own interests entered into the Money Market. So long as the rupee is worth 1s.

And if it begins to deposit this immense income as it accrues at any bank, at once it becomes interested in the welfare of that bank. The figures of Mr.

But the existence of a 10–rupee gold piece (13s.

Laisser un commentaire

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