Gold Prices And the Witwatersrand
Gold Prices And the Witwatersrand
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In our eReader you can find the full English version of the book. Read Gold Prices And the Witwatersrand Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Gold Prices And the Witwatersrand
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Never- theless they raise the total of individual depc«its subject to cheque to 8,241 millions, at the same date ; there are large sums deposited by one bank with another, e.g., by country banls with their New York correspondent ; these, however, appear sepa- rately in the returns, as they should do.
They do not constitute funds that the pubHc can use in payment ; to count them in PAPER SUBSTITUTES 45 would be to count the same money twice over.
In England, although banking is most highly devel...oped, the statistics published by the banks are most imperfect. The totals of deposits do not distinguish between money on current account and deposits that can only be withdrawn after notice, and are, therefore, not available as currency. On this important point, one who has not access to confidential information can do nothing better than make a guess. For instance, at the beginning of 1914 the " deposits and current accounts " of English, Scotch and Irish banks totalled £mi,054. Of this, the Bank of England held £m52, and as the bank's business is largely to hold a central reserve on behalf of the other bankers, it will be best to omit this item alto- gether.
What to read after Gold Prices And the Witwatersrand?
You can find similar books in the "Read Also" column, or choose other free books by Robert Alfred Lehfeldt to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Never- theless they raise the total of individual depc«its subject to cheque to 8,241 millions, at the same date ; there are large sums deposited by one bank with another, e.g., by country banls with their New York correspondent ; these, however, appear sepa- rately in the returns, as they should do.
They do not constitute funds that the pubHc can use in payment ; to count them in PAPER SUBSTITUTES 45 would be to count the same money twice over.
In England, although banking is most highly devel...oped, the statistics published by the banks are most imperfect. The totals of deposits do not distinguish between money on current account and deposits that can only be withdrawn after notice, and are, therefore, not available as currency. On this important point, one who has not access to confidential information can do nothing better than make a guess. For instance, at the beginning of 1914 the " deposits and current accounts " of English, Scotch and Irish banks totalled £mi,054. Of this, the Bank of England held £m52, and as the bank's business is largely to hold a central reserve on behalf of the other bankers, it will be best to omit this item alto- gether.
What to read after Gold Prices And the Witwatersrand?
You can find similar books in the "Read Also" column, or choose other free books by Robert Alfred Lehfeldt to read onlineMoreLess
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