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Front Page Titles (by Subject) NOTE A.: Liabilities and Cash Reserve of the Chief Banking Systems. - The Works and Life of Walter Bagehot, vol. 6 (Lombard Street, Essays on Guizot & Cairnes, The Depreciation of Silver)
NOTE A.: Liabilities and Cash Reserve of the Chief Banking Systems. - Walter Bagehot, The Works and Life of Walter Bagehot, vol. 6 (Lombard Street, Essays on Guizot & Cairnes, The Depreciation of Silver) [1915]Edition used:The Works and Life of Walter Bagehot, ed. Mrs. Russell Barrington. The Works in Nine Volumes. The Life in One Volume. (London: Longmans, Green, and Co., 1915). Vol. 6.
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- The Works and Life of Walter Bagehot Volume Vi
- Lombard Street.
- Lombard Street In 1910.
- Prefatory Note to Twelfth Edition.
- Advertisement.
- Chapter I.: Introductory.
- Chapter II.: A General View of Lombard Street.
- Chapter III.: How Lombard Street Came to Exist, and Why It Assumed Its Present Form.
- Chapter IV.: The Position of the Chancellor of the Exchequer In the Money Market.
- Chapter V.: The Mode In Which the Value of Money Is Settled In Lombard Street.
- Chapter VI.: Why Lombard Street Is Often Very Dull, and Sometimes Extremely Excited.
- Chapter VII.: A More Exact Account of the Mode In Which the Bank of England Has Discharged Its Duty of Retaining a Good Bank Reserve, and of Administering It Effectually.
- Chapter VIII.: The Government of the Bank of England.
- Chapter IX.: The Joint Stock Banks.
- Chapter X.: The Private Banks.
- Chapter XI.: The Bill Brokers.
- Chapter XII.: The Principles Which Should Regulate the Amount of the Banking Reserve to Be Kept By the Bank of England.
- Chapter XIII.: Conclusion.
- Appendix.
- Note A.: Liabilities and Cash Reserve of the Chief Banking Systems.
- Note B.: Extract From Evidence Given By Mr. Alderman Salomons Before House of Commons Select Committee In 1858.
- Note D.: Meeting of the Proprietors of the Bank of England. 13th September, 1866.
- The Metaphysical Basis of Toleration. (1874.)
- Monsieur Guizot (1874.)
- Professor Cairnes. (1875.)
- The Public Worship Regulation Bill. 1 (1874.)
- The Depreciation of Silver.
- Preface.
- I.: The Low Value of Silver, and Its Effect On India.
- II.: The Remedies For the Fall In Silver.
- III.: Further Suggestions On the Fall In Silver.
- IV.: The Effects of the Resumption of Specie Payments In France On the Price of Silver.
- V.: The Effect of a Depreciation of Silver On Our Foreign, and Especially On Our Eastern Trade.
- VI.: The Extreme Fall In Silver, and the Hasty Remedies Proposed.
- VII.: The Report of the Committee On the Depreciation of Silver.
- VIII.: The Proposal of the Bengal Chamber of Commerce to Suspend the Coinage of Silver In India.
- IX.: The Debate On the Indian Budget.
- X.: The Different Effect On Trade of a Cheapening of the Precious Metals, and of a Depreciation of Inconvertible Paper.
- XI.: The American Commission On the Currency.
- XII.: The Permanent Effect of an Increase of “council Bills” On the Flow of Silver to India and Upon the Indian Exchanges.
- XIII.: The Effect of the “council Bills” On the Indian Exchanges.
- XIV.: The Minute of the Indian Government On the Depreciation of Silver.
- XV.: A Proposed Remedy For the Depreciation of the Silver Coinage of India.
- XVI.: The Transition State of the Silver Market.
- XVII.: Bi-metallism.
- Appendix. Evidence Before the Select Committee On Depreciation of Silver. Monday, 8th May, 1876.
NOTE A.
Liabilities and Cash Reserve of the Chief Banking Systems.
The following is a comparison of the liabilities to the public, and of the cash reserve, of the banking systems of the United Kingdom, France, Germany, and the United States. For the United Kingdom the figures are the most defective, as they only include the deposits of the Bank of England, and of the London joint stock banks, and the banking reserve of the Bank of England, which is the only cash available against these liabilities, is also the only cash reserve against the similar liabilities of the London private banks, the provincial English banks, and the Scotch and Irish banks. In the case of England, therefore, the method of comparison exhibits a larger proportion of cash to liabilities that what really exists. (1) ENGLISH BANKING.| Liabilities. | £ | | Deposits of Bank of England, less estimated joint stock bank balances, at 31st December, 1872 | 29,000,000 | | Deposits of London joint stock banks at 31st December, 1872 (see Economist, 8th February, 1873) | 91,000,000 | | Total liabilities | 120,000,000 | | Reserve of Cash. | £ | | Banking Reserve in Bank of England | 13,500,000 | Making proportion of cash reserve to liabilities to the public about 11·2 per cent. (2) BANK OF FRANCE (FEBRUARY, 1873).| Liabilities. | £ | | Circulation | 110,000,000 | | Deposits | 15,000,000 | | Total liabilities | 125,000,000 | | Reserve of Cash. | £ | | Coin and bullion in hand | 32,000,000 | Making proportion of cash reserve to liabilities to the public about 25 per cent. (3) BANKS OF GERMANY (JANUARY, 1873).| Liabilities. | £ | | Circulation | 63,000,000 | | Deposits | 8,000,000 | | Acceptances and endorsements | 17,000,000 | | Total liabilities | 88,000,000 | | Reserve of Cash. | £ | | Cash in hand | 41,000,000 | Making proportion of cash reserve to liabilities to the public about 47 per cent. (4) NATIONAL BANKS OF UNITED STATES (3rd OCTOBER, 1872).| Liabilities. | £ | | Circulation | 67,000,000 | | Deposits | 145,000,000 | | Total liabilities | 212,000,000 | | Reserve of Cash. | £ | | Coin and legal tenders in hand | 26,000,000 | Making proportion of cash reserve to liabilities to the public about 12·3 per cent. SUMMARY. | Liabilities to the public. | Cash held. | Proportion of cash to liabilities per cent. | | £ | £ | | | Bank of England and London joint stock banks} | 120,000,000 | 13,500,000 | 11·2 | | Banks of France | 125,000,000 | 32,000,000 | 25·0 | | Banks of Germany | 88,000,000 | 41,000,000 | 47·0 | | National banks of United States} | 212,000,000 | 26,000,000 | 12·3 |
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