English Banking, Its Development and Some Practical Problems It Has to Solve: Three Lectures (Classic Reprint) - Rilegato

Pownall, George H.

 
9780656777952: English Banking, Its Development and Some Practical Problems It Has to Solve: Three Lectures (Classic Reprint)

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Excerpt from English Banking, Its Development and Some Practical Problems It Has to Solve: Three Lectures

There is another point raised by a remark of Mr. Pownall's, on which Sir Edward Holden has frequently laid stress. It is a moot question in my own mind, he says, whether a great bill case is not better than invest ments, and I incline to plump for bills. This is especially true, I think, in regard to the national reserves. The fact that the Bank of England originated in a State loan, and the way in which the indefensible Act of 1844 has set its seal upon the holding of securities in the note reserve, have caused English practice to differ in this respect from the banking tradition of most other great commercial countries. It is a matter which deserves attention.

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