First, they have probably discounted bills to a large amount for the bill brokers, and if these bills are paid, they decline discounting any others to replace them. ‘It is quite true that corn has not been quite so cheap during the present year. Her Government was fixed, as was then thought, and powerful; it could resist any external enemy, and the prestige on which it rested seemed too firm to fear any enemy from within.
) + (xi. The feeling of the City, of many of our friends, of some of the Opposition, was decidedly in favour of the issue of Exchequer Bills to relieve the merchants and manufacturers. Or, possibly, offices may have changed occupants and the ministry in power at the panic would be the opponents of the ministry which at a former time appointed the Governor.
In short, if we know the relative proportions of coins of 1860 and of 1912 in the circulation, and if we know, approximately, the absolute number of coins of 1912, we can calculate the absolute number still circulating of the coins of 1860. Germany led the way in 1871–73.
The intrinsic nature of these liabilities must be considered, as well as their numerical quantity.
The last provision has led, I believe, to the Banks establishing a kind of bonded warehouse for the reception of merchandise. The process is this: the plentifulness of loanable capital causes a rise of prices; that rise of prices makes it necessary to have more loanable capital to carry on the same trade.  We know also how much of this addition is in the form of sovereigns, and how much in the form of gold bars. ‘ But the exact point is, that it has not gone on a long time. ” Lord Rothschild, Sir John Lubbock (Lord Avebury), Sir Samuel Montagu (the late Lord Swaythling) all gave evidence before the Committee that any system without a visible gold currency would be looked on with distrust. and therefore to keep up his tenth he would have 90,000 L. ; they now are 8,000,000 L.
Mr. The case of Overend, Gurney and Co. Attempts to estimate the rupee circulation of India have been the occasion of some very interesting calculations.