He would run no more risk by the failure of the bank if he made a

If there is a difficulty or a doubt, the security should be declined. This is quite apart from the question whether they are more _likely_ to get into trouble than formerly. So much for the proper magnitude of the Reserve, regarded as a Currency Reserve.

I do not think that this is the most useful point of view from which to approach the question, or that the proper magnitude of the Gold Standard Reserve can be discussed without reference to the magnitude of the other reserves. │ in India. . The two provisions of the Presidency Banks Act which have proved fundamental in their effect on the development of the Indian Banking System are those which prohibit the Presidency Banks from dealing in foreign exchange and from raising funds in London. The joint stock banks now keep a main part of their reserve on deposit with the bill-brokers, or in good and convertible interest-bearing securities. On one vital point the Bank’s management has been excellent. The Governor and Deputy-Governor, who form that executive, change every two years.

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