Report from Select Committee on Banks of Issue; With the Minutes of Evidence, Appendix, and Index

Report from Select Committee on Banks of Issue; With the Minutes of Evidence, Appendix, and Index

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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. 1840 edition. Excerpt: ...that question. I can only answer it by the paper which has now been put into my hands; I observe a great S.J. Loyd, Esq. fluctuation in the amount of securities throughout the year 1834, and also a very marked increase in the amount of securities throughout the year 1835; they si July 1840. reached the maximum sum of 31 millions in December 1835. 2809. What do you understand that increase in 1835 to 31 millions to have been owing to?--I conceive it arose from the transactions connected with the West India loan, and probably the money of the East India Company. 2810. Was the increase of securities at that period reconcileable with sound banking principles?--In order to answer that question accurately, I ought to know precisely the position of the Bank; but, generally, I can have no hesitation in saying, that I think the increase of the deposits of the Bank, arising from the West India loan and the East India Company's money, fully justified the Bank in making a corresponding increase of its securities. 2811. Have you ever analyzed the returns of the Bank, so as to make yourself acquainted with the fact, how far that increase in the securities was justifiable by the increase of the deposits on account of the West India Loan and East India Company's money; and how far, making an abatement for those deposits, the securities they held against their issues, were fixed in amount?--I certainly cannot say that I have analyzed the accounts of the Bank to the extent supposed in the question; nor do I think the accounts rendered to the public would be sufficient for the purpose; because it w ould be necessary to dissect the deposits and to know the character of those deposits in which an increase or a diminution might have taken place: but the following...show more

Product details

  • Paperback | 352 pages
  • 189 x 246 x 19mm | 630g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236521994
  • 9781236521996