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Banks' Cash Reserves: Threadneedle Street; A Reply to Lombard Street (by the ...
Arthur Stanley Cobb
No preview available - 2015
able accounts advances amount assets balances Bank Charter Act bank notes Bank of England bankers Banking Department banking reserve bullion cash reserve cent circulation Code Committee Companies consequence consider convertibility crisis currency demand deposits difficulty directors discount duty Edition effect EFFINGHAM WILSON English establishment Exchange fact follows Foreign give gold Goschen Government Governor hand hold House important increase Institution interest invest Issue Department Italy joint-stock banks keep larger letter liabilities limit London and Westminster means meet ment necessary notes object operations opinion ordinary panic Parliament payment Plans portion position practice present Price principle proportion proposal provisions published question reason reduced referred regard relations rendered ROYAL Savings second reserve securities share Street sufficient supply suspension Tables taken Telegraph whole
Page 18 - TABLES FOR THE PURCHASING of ESTATES, Freehold, Copyhold, or Leasehold; Annuities, Advowsons, &c. , and for the Renewing of Leases held under Cathedral Churches, Colleges, or other corporate bodies ; for Terms of Years certain, and for Lives ; also for Valuing Reversionary Estates, Deferred Annuities, Next Presentations, &c., together with Smart's Five Tables of Compound Interest, and an Extension of the same to lower and Intermediate Rates. By WILLIAM INWOOD, Architect.
Page 145 - No such discount or advance, however, should be granted at a rate of interest less than 10 per cent., and her Majesty's Government reserve it to themselves to recommend, if they should see fit, the imposition of a higher rate. After deduction by the bank of whatever it may consider to be a fair charge for its risk, expense, and trouble, the profits of these advances will accrue to the public.
Page 179 - England, proceeding upon the prudent rules of action by which their administration is usually governed, shall find that in order to meet the wants of legitimate commerce, it be requisite to extend their discounts and advances upon approved securities, so as to require issues of notes beyond the limits fixed by law, Her Majesty's Government recommend that this necessity should be met immediately upon its occurrence, and in that event they will not fail to make application to Parliament for its sanction....
Page 20 - M'Culloch's Dictionary, Practical, Theoretical, and Historical, of Commerce, and Commercial Navigation. Illustrated with Maps and Plans.
Page 178 - The accounts and representations which have reached Her Majesty's Government during the day exhibit the state of things in the City as one of extraordinary distress and apprehension. Indeed, deputations composed of persons of the greatest weight and influence, and representing alike the private and...
Page 50 - In consequence all our credit system depends on the Bank of England for its security. On the wisdom of the directors of that one joint-stock company, it depends whether England shall be solvent or insolvent.
Page 50 - If a merchant have £10,000 at his banker's, and wants to pay it to some one in Germany, he will not be able to pay it unless his banker can pay him, and the banker will not be able to pay if the Bank of England should be in difficulties and cannot produce his
Page 2 - An Act for granting to their majesties several rates and duties upon tonnage of ships and vessels, and upon beer, ale, and other liquors, for securing certain recompenses and advantages in the said Act mentioned, to such persons as shall voluntarily advance the sum of fifteen hundred thousand pounds towards carrying on the war against France.
Page 2 - ... been his duty to make, respecting the effect of the unusual demands for specie that have been made upon the metropolis, in consequence of ill-founded or exaggerated alarms in different parts of the country...
Page 178 - Gentlemen, -We have the honour to acknowledge the receipt of your letter of this day to the Chancellor of the Exchequer, in which you state the course of action at the Bank of England, under the circumstances of sudden anxiety, which have arisen since the stoppage of Messrs. Overend, Gurney, and Co., Limited, yesterday.