Bank rate in England, France, and Germany, 1844-1878

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Pagina 57 - Now with regard to the oscillation of the internal circulation of the country, I may notice that there is, periodically, a demand for currency from the Scotch and Irish banks, which, whilst it produces a most sensible effect upon the Bank of England reserve, is uncontrollable by any action of the Bank. At certain periods of the year, especially...
Pagina 110 - Government stocks, ike., no banker need apprehend difficulty. With regard to the investment of the capital, no part of this is required to be kept in reserve ; all may be invested in interest-bearing securities, which should be of undoubted character, but not necessarily of the same ready convertible nature as that part which is held liable to recall of deposits.
Pagina 136 - One of the subjects which was proposed to be investigated in preparing this statement was the relation of the reserve to the current rate of interest charged. A study of this analysis shows the truth of the usual conclusion, that the rate of discount charged by the Bank of England is regulated more by the proportion of the reserve to liabilities than by any other consideration. That the amount of the bankers...
Pagina 50 - ... dollars or three and six, or ten and twenty! There is always the question of location to consider. You may have a dear friend in a lodge several miles from your home; you may wish to he with him in his lodge, and yet find that the mechanics of transportation dictate one nearer home.. There is something to be said on both sides of the question as to whether you should apply to your father's lodge or your blood brother's lodge. Father and blood brother will naturally want you with them in their...
Pagina 57 - ... from the Bank reserve, to be again restored to it when the reflux of the currency of the Scotch and Irish banks takes place, which is usually in the months of December to March. The Scotch banks very generally exceed their authorised aggregate issue; but with the Irish banks, although the aggregate issue is not usually exceeded, yet it often happens that some are in excess, whilst others are under the authorised amount. But as each bank has to provide for its own excess, the demand on the London...
Pagina 55 - The payment of household servants' wages, and in many cases salaries at the same period. " These payments are to a large extent made through the medium of bank notes, and thus they get into bands where they remain for a time, many of the parties who receive the notes having no bank account. " It is further to be noted : — " 1st. That on the 4th of the month an unusually large amount of bills falls due, and if the 4th happens on a Saturday (the day .when the returns are made up) we generally...
Pagina 36 - From a banking position there is no doubt economy in making the Bank of England keep the reserve of the bankers, but it is equally certain that from a general point of view this tends to place any pressure always at one point — a point on which...
Pagina 80 - Enquete sur les principes et les faits generaux qui regissent la circulation monetaire et fiduciaire,
Pagina 54 - The shipments of corn also from America generally commence early in September, and intensify up to the middle of November. These causes, and others of a kindred nature which there is no need to specify, account for the autumnal demand. They do not, however, exist in the spring. In the month of May, a corresponding, though slighter, increase of pressure may be observed to that taking place in October, November, and December. The opening of those sources of supply which have been locked up by the severity...
Pagina 39 - But if x+y is seen, then we know that y must remain untouched and uninvested ; must, in fact, form an addition to our reserve; x is ours for profit if we like to use it, but y is ours only for safe custody. Where is the danger ? On the other hand, the possession of that account is of the greatest importance to us, as affording the most perfect and accurate measure of how far the public can at all act independently of us.

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