But we should be making rather a random guess if we were to attempt to say how many. │ │ ├──────────–┬──────────────┼──────────–┬──────────────┤ │ │ Reserve │Total Balances│ Reserve │Total Balances│ │ │Treasuries. We must deal with what is, not with what was. (b) Estimate. In domestic enterprises it is the same.
(ii. A large number of banks, each feeling that their credit was at stake in keeping a good reserve, probably would keep one; if any one did not, it would be criticised constantly, and would soon lose its standing, and in the end disappear.
The establishment of a Mint, however, would flatter at small expense an ignorant vanity. This function is the supply of the paper circulation to the country, and it will be observed that I am not about to overstep my limits and discuss this as a question of currency.
Mr. If the interest were raised, the charge on the revenue would be of course proportionate to the increase of rate of interest.