This is strikingly borne out by the almost negligible receipts of gold (given below) by post

But by far the greatest of these intermediate dealers are the bill-brokers. Nothing but their immense misfortunes, nothing but a vast loan in their own securities, could have extracted the hoards of France from the custody of the French people. 5, are looked upon with distrust by the village yokel and even by the village sahukar. It is alleged that the Bank of England can keep aloof in a panic; that it can, if it will, let other banks and trades fail; that if it chooses, it can stand alone, and survive intact while all else perishes around it. The permanent Governor ought to give his whole time to the business of the Bank. Much nonsense is talked about a gold standard’s properly carrying a gold currency with it. But, however all this might be, at present the Government of India do _not_, in fact, exert such discretionary powers as they possess for affecting, even temporarily, the volume of circulation. He would be a lender of such magnitude and so much influence, that he might command his own terms.

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