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Updated: May 25, 2025
Since it was formerly only possible to exceed the limit on the fiduciary issue by a breach of the law, under the Chancellor of the Exchequer's promise to get an indemnity for it from Parliament, and since Treasury tradition insisted on a 10 per cent.
Then, money of fixed denomination, struck under the authority of a chief or of a social group. Finally, gold and silver are replaced by the letter of credit, the bank check, and the numerous forms of fiduciary money. Every one of these forward steps is due to inventors.
The Aydyr was making as much noise as ever, for the summer had been a wet one; and of course all the people of Aber-Aydyr had their ears wide open. I showed Bob the bridge and the place of my vision, but did not explain its meaning, lest my love for him should seem fiduciary; and the next morning, at his most urgent request, we started afoot for that dark, sad valley.
It is a dynamic and paternalistic conservation a conservation that thinks of great dams for the restraint of waters and reservoirs for their impounding to the extent of millions or billions of cubic feet, forestation of great stretches of mountain slope, of restrictions and compulsions of other than personal and family interests a paternalism that looks beyond the next generation or even two generations and to the feeding of other children than one's own lineal descendants a paternalism that is not exploiting but fiduciary.
The mass of property owners and influential people in Europe to-day no more believe in the sacred right of property to hold up development and dictate terms than do the more intelligent workers. The ideas of collective ends and of the fiduciary nature of property, had been soaking through the European community for years before the war.
A big bank president, a railway magnate, an official connected with some big corporation, or a Government official in a responsible fiduciary position, necessarily belongs among the men who have succeeded in life. This means that his family are living in comfort, and perhaps luxury and refinement, and that his sons and daughters have been well educated.
8 To statutory succession the ascendant too is none the less called who emancipates a child, grandchild, or remoter descendant under a fiduciary agreement, which by our constitution is now implied in every emancipation.
Strengthened by these highest motives of Catholic Solidarity and Christian Charity we should give joyfully and generously. Let us levy a tax on our income, no matter how small it may be, remembering the fiduciary character of our earthly possessions. Let us give our time and our services to this noble Cause.
The theory was that every right-minded boy ought to feel himself in such a fiduciary position towards his master, that it became a positive duty to acquaint him with any delinquencies he might happen to observe among his fellows; and if, at the same time, he was oppressed by a secret burden on his own conscience, it was understood that he might hope that the joint revelation would go far to mitigate his own punishment.
Chiefly by buying exporters' bills and further by reducing administrative expenditures as well as by taxing alcohol, a substantial specie reserve was gradually accumulated, and, by 1885, the volume of fiduciary notes having been reduced to 119 millions, whereas the treasury vaults contained forty-five millions of precious metals, the resumption of specie payments was announced.
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