If he was guided by the code, he would have a plain defence

Great authorities have been unwilling to admit it. This is an effectual demand, for the increased price of railway stock enables those who wish it to borrow more upon it. [69] 22. ‘ But in its origin it was not only a finance company, but a Whig finance company. Undoubtedly such a permanent official should be a trained banker.

Two hosts of eager disputants on this subject ask of every new writer the one question–Are you with us or against us? and they care for little else. Of course this is not a very high proportion of the total increase in the volume of currency which is required in the busy season.

For several weeks following, at a time of year when the demand for Council Bills is usually strong, he sold none at all. The London bill brokers do much the same. He is not subjected to keen and public criticism, and is not taught to bear it.

And this rise of prices has three consequences. The advances from the Currency Reserve, therefore, must be made at a fairly high rate of interest and for periods not exceeding three months; and they should be so arranged that the Government would regain possession of its funds and the advances be reduced to nil in each slack season.

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