But i am bound to own that the committee was right and i was wrong, for

The Bank of France keeps the final banking reserve, and it keeps the currency reserve too.

No one in the rural districts (as I know by experience) would ever believe a word against them, say what you might. The newspapers, on behalf of the nation, are always warning the directors to keep it, and watching that they do keep it; but, on the other hand, another less visible but equally constant pressure pushes the directors in exactly the reverse way, and inclines them to diminish the reserve. 55) fell much less seriously. On one vital point the Bank’s management has been excellent. There will be a continual worry in the bank, and in a worry bad loans are apt to be made and money is apt to be lost. The explanation is simple. Further, it is certain that a large number are melted every year and used as bullion. ┌─────────┬─────────────────────┬───────────────┬────────────────┐ │ │ Average for Year.

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