[Lombard Street: A Description of the Money Market by Walter Bagehot]@TWC D-Link book
Lombard Street: A Description of the Money Market

CHAPTER II
4/73

Take, for example an account, which may be considered an average specimen of those of the last few years--that for the last week of 1869: _An account pursuant to the Act 7th and 8th Victoria, cap.

32, for the week ending on Wednesday, the 29th day of December, 1869._ ISSUE DEPARTMENT.
Notes issued 33,288,640 L| Government debt 11,015,100 L | Other securities 3,984,900 L | Gold coin and bullion 18,288,640 L | Silver bullion 33,288,640| 33,288,640 L BANKING DEPARTMENT.
Proprietors' capital 14,553,000 L| Government Securities 13,811,953 L Rest 3,103,301 L| Other securities 19,781,988 L Public deposits, | Notes 10,389,690 L including Exchequer, | Gold and silver coins 907,982 L Savings' Banks, | Commissioners of | National Debt, | and dividend | accounts 8,585,215 L| Other deposits 18,204,607 L| Seven-day and other | bills 445,490 L| 44,891,613 L| 44,891,613 L GEO.

FORBES, Chief Cashier.
Dated the 30th December, 1869.
There are here 15,000,000 L.bank notes issued on securities, and 18,288,640 L.represented by bullion.

The Bank of England has no power by law to increase the currency in any other manner.

It holds the stipulated amount of securities, and for all the rest it must have bullion.


<<Back  Index  Next>>

D-Link book Top

TWC mobile books