Reply to the Reflections Etc Etc of Mr Samuel Jones Loyd On the Pamphlet Ent
Reply to the Reflections Etc Etc of Mr Samuel Jones Loyd On the Pamphlet Ent
J Horsley John Horsley Palmer
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The writer of the " Causes, " &c. Purposely ex- cluded from his statement of the amount of secu- rities those held with the deposits received from the West India Loan, and the money belonging to the East India Company. He is satisfied he did right in this, for these deposits interfered in no manner of way with the regular working of the Bank. They were lent on securities redeemable at stated periods to meet the West India Claimants, and East India bill-holders, the liquidation of which terminat...ed those accounts. There is now in progress a further 12 realization of the same kind by the East India Company, though not to the same extent. Under the third head of omission, Mr. Loyd alludes to the necessity of furnishing the accounts of the Bank monthly, if not weekly, from December 1835. That would not really afford any better means of judging of the working of the Bank, but the reverse. Accounts rendered more frequently would afford no accurate information, from the uncer- tainty of redemption during each quarter by Govern- ment of the deficiency bills issued at the commence- ment, and redeemable by the revenue as received.
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