We have linked india with the gold countries of the world, we have reached a gold–exchange

As business grows, the number of such subsidiary persons augments. The world would imagine that what has happened before will happen again; and when they have got money, they will not deposit it at an establishment which may not be able to repay it. If it is known that the Bank of England is freely advancing on what in ordinary times is reckoned a good security–on what is then commonly pledged and easily convertible–the alarm of the solvent merchants and bankers will be stayed. 11. The growing importance of foreign bills in the portfolios of the Reichsbank has been shown above. CHAPTER VII INDIAN BANKING 1. The Presidency Banks had, at first, a semi–official character. In the old days of few and great privileged companies, the chairman, though periodically elected, was practically permanent so long as his policy was popular.

” These have been as follows:— ┌─────────┬───────────────┬───────────────┐ │ │ Post Offices.

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