Report to the Board of Trade, on Banks, Banking and Life Assurance, from Bentley's Registry of Bank and Life Assurance Accounts

Report to the Board of Trade, on Banks, Banking and Life Assurance, from Bentley's Registry of Bank and Life Assurance Accounts

By (author) 

List price: US$14.13

Currently unavailable

Add to wishlist

AbeBooks may have this title (opens in new window).

Try AbeBooks

Description

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1867 edition. Excerpt: ...and increased. 107. As, however, nothing can entirely prevent panics, while our currency remains in its present state; and, as all efforts to get it altered by Act of Parliament have been, and are likely to continue to be vain for some years, this is the most practical and important part of our Keport. At present the currency is limited to the same quantity it was when our national expenditure was 21,379,996 less than it is this year--when our trade was not one fourth of what it is now--and the deposits in Banks, at call or short notice, were about one sixth of their present amount. Setting every thing else aside, and taking account of no other Banks but the 194 in our Tables, we find 443,446,000 of deposit money that may be called out of the Banks in some two short weeks; and only about 47,757,092 of notes for the Banks to pay every one with. As there is no better place in which to put the money in, if taken out of the Banks, except the pocket or to bury it, it is allowed to remain against the will of their owners, unless there is very great cause for apprehension, as on "Black Friday;" when a scramble for money takes place in the following order, or something like it, as we said in sections 69 to 74. 108. The more timid people go and draw out large portions of their balances at their bankers, and give notice for withdrawing their deposits. Their bankers have then to call in their cash at call with the Discount houses, or their balances at the Bank of England; and also, to obtain discounts or advances from the Bank on securities; and thus make themselves as strong as their means will allow, for meeting any further drain of money. Such an immense amount of cash was moved round in this way on "Black Friday..".show more

Product details

  • Paperback | 44 pages
  • 189 x 246 x 2mm | 95g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 123658614X
  • 9781236586148