A large joint stock bank, if well-worked, has that machinery

The usual practice–credit being good–is for the creditor to take the debtor’s cheque, and to give up the securities. 6. With regard to the rest the Government should, I think, permit itself much greater latitude. They receive the banker’s notes in the common course of their business, and they have only not to take those notes to the banker for payment. Thus, to take a round figure, the crisis found the Secretary of State with about £31,000,000 in hand. He would know which way criticism was coming. And in this theory there is doubtless much truth, though it can only be applied in practice after a number of limitations and with a number of deductions of which the older school of political economists did not take enough notice. Thus he will endeavour to make as certain as possible of selling within the year the amount budgeted for (_i. The Bank of France keeps the final banking reserve, and it keeps the currency reserve too. . And they would be canvassed in every way and on every side to appoint a man of mercantile dignity or mercantile influence.

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