This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1876 Excerpt: ...an understanding with his depositors that they shall generally leave a fair balance in his hands. This fluctuation in the cheques drawn upon him by his depositors exposes the banker at all times to pay on a given day more than he receives, and thus compels him to provide a certain amount of cash ready in hand to ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1876 Excerpt: ...an understanding with his depositors that they shall generally leave a fair balance in his hands. This fluctuation in the cheques drawn upon him by his depositors exposes the banker at all times to pay on a given day more than he receives, and thus compels him to provide a certain amount of cash ready in hand to provide for such a contingency. He is consequently unable to lend all that he receives. He cannot authorise borrowers to draw cheques on him to the full amount of those he has to collect; the difference will reach him in cash; that cash he keeps as a reserve against sudden demands. That reserve furnishes him with protection against the risk of committing an act of insolvency by being unable to obtain back his loans as fast as his depositors demand repayment. It might be, indeed almost always is, a question of time. He has lent on terms more or less long. The bills he has discounted may be perfectly sound, but they are not yet due. He may possess much wealth, but it is not accessible at the moment, or the man to whom he has made a loan may not be ready to repay. Security against this danger, inherent in modern banking, is the object of the reserve. The magnitude of the reserve, which prudence counsels every banker to provide, is a question of great practical importance. The reserve entails a diminution of the banker's profits; it is coin and banknotes not used, but kept in store; hence, he has a strong motive of interest to make that reserve as small as possible. Still safety is the paramount consideration. How large a reserve then ought a banker to keep? That will vary with the particular circumstances of each bank. A bank in a quiet agricultural district, fed by rich landowners and steady farmers, whose habits are regular and well-known, will be sa...
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
