Hankey, one of the most careful and most experienced of them, says in his book on

In all its history I do not know that its name has ever been connected with a single large and discreditable bad debt. In these circumstances, a low rate of interest, long protracted, is equivalent to a total depreciation of the precious metals. In either case there is a similar increase in the volume of currency in India not held by the Government.

The Delhi and London Bank,[101] the oldest established of all, has not shown the vitality or power of expansion of the others; and the Eastern Bank, though it seems to have made a good start, is still too young to pass judgment on. Thus at that date this reserve stood at about £19,750,000, allowing for depreciation. It has been proposed that it should not be permitted to combine banking operations with other businesses; that the accounts of Banks should be regularly audited and the results published; that fairly detailed accounts[122] should be published in the local official Gazette; that all institutions calling themselves Banks should be required to publish certain specified particulars at the head of every advertisement; and that capital and reserves should bear a certain proportion to liabilities before dividends may be paid.

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