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I should say that at the present time the mind of the monetary world would become feverish and fearful if the reserve in the Banking department of the Bank of England went below 10,000,000 L. Estimated by the idea of old times, by the idea even of ten years ago, that sum, I know, sounds extremely large.
Apart from an expressed desire that Alec should be given a salaried appointment in the work of the post during his mother's lifetime, and that at her death the boy should inherit, unconditionally, her share of the business, and the making of a monetary provision for his daughter, Jessie, the disposal of his worldly goods was quite unconditional.
It was simpler and easier to retain what existed, and what had sufficiently adjusted itself through the working of commercial needs, than to invent something new; and hence the anomalous character of the New Persian monetary system.
Going down into the heart of the old city of London, and standing in the street called the Poultry, the Bank of England and the Royal Exchange are seen over on the other side, with Threadneedle Street between them, and Lombard Street on the right hand, the region that controls the monetary affairs of the world.
The whole difficulty had arisen, of course, out of the agitation upon the money question. The banks were drawing upon the government gold reserve; and the government was issuing bonds to recover the gold again from the banks. I had been, for some years, interested in the problem of our monetary system and had studied and discussed it among our Eastern bankers and abroad.
The recent depreciation in the price of silver has been observed with regret. The rapid rise in price which anticipated and followed the passage of the act was influenced in some degree by speculation, and the recent reaction is in part the result of the same cause and in part of the recent monetary disturbances.
The powers conferred on the National Government were clearly set forth. All were of a strictly national character. They covered the field of foreign relations, interstate and foreign commerce, fiscal and monetary system, post office and post roads, patents and copyrights, and jurisdiction over certain specified crimes. All other powers were reserved to the states or the people.
Towards the end of 1905, Pashitch, then Prime Minister of Serbia, though already working hard against Bulgaria in Macedonia, signed a secret commercial convention with that country providing for the free interchange of goods with the exception of certain specified objects, and binding the two to a monetary convention and assimilation of weights and measures.
He was decided never again to hand over the child entirely to the hands of servants, and he also made up his mind to devote less time to monetary matters and the glory of France and attend more to his own. The thought also occurred to him that France wouldn't be likely to suffer from the neglect.
Of course I want the thief caught, if possible, and properly punished; but still more I want the cameo." "Certainly it is a considerable loss. Five thousand pounds " "Ah, but don't misunderstand me! It isn't the monetary value of the thing that I regret. As a matter of fact, I am indemnified for that already. Claridge has behaved most honorably more than honorably.
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