The certain result is a bound of national prosperity; the country leaps forward as if by

as a reserve, that sets 2,000,000 L. ‘ ‘The court,’ says Mr. The dealings between the Egyptian and the Indian banks must thus present very delicate problems of arbitrage. (under the Cabal Ministry) had brought the credit of the English State to the lowest possible point. Then, if he wants to sell 500,000 L.

In the eye of the banker, money at the brokers would then be one of the investments of cash, it would not be a part of such cash. So far, therefore, from assisting the market, the Government were busy increasing the stringency by taking off the market, week by week, rupees which for the moment they did not in the least want. As a matter of fact the circumstances were, at first, unfavourable. So difficult is it in even a great country like France for the deposit system of banking to take root, and establish itself with the strength and vigour that it has in England. The fever of excitement which passed over the nation was strongest in the classes to whom banks lent most, and consequently the losses of even the most careful banks (save of those in rural and sheltered situations) were probably greater than usual.

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