History of Banking in Scotland;
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In our eReader you can find the full English version of the book. Read History of Banking in Scotland; Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book History of Banking in Scotland;
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This course seems to have Avorked satisfactorily, without putting a stop to busi- ness. But, although the Americans could get on pretty well in that way, the consequences on this side of the Atlantic were very different. Failure of remittances from the United States forced British mercantile houses to stop payment. Undoubtedly solvent firms were obliged, for the time being, to succumb ; and, of course, their weaker brethren were at once ci'ushed hopelessly. The Bank of England discount rate, wh...ich had fallen to 5^ per cent, on 16th July, rose on 8th October to 6 per cent. Four days later, it was advanced to 7 per cent., and next week to 8 per cent. The banldng reserve had been steadily and 190 HISTORY OP BANKING IN SCOTLAND, largely falling, and on 24tli October reached the low point of £3,485,840. On 27th October the Borough Bank of Liverpool failed, after a hopeless appeal to the Bank of England for assistance. The Northumberland and Durham District Bank also applied for assistance ; but, after exami- nation, aid was refused, and it had to succumb.
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To quickly assess the difficulty of the text, read a short excerpt:
This course seems to have Avorked satisfactorily, without putting a stop to busi- ness. But, although the Americans could get on pretty well in that way, the consequences on this side of the Atlantic were very different. Failure of remittances from the United States forced British mercantile houses to stop payment. Undoubtedly solvent firms were obliged, for the time being, to succumb ; and, of course, their weaker brethren were at once ci'ushed hopelessly. The Bank of England discount rate, wh...ich had fallen to 5^ per cent, on 16th July, rose on 8th October to 6 per cent. Four days later, it was advanced to 7 per cent., and next week to 8 per cent. The banldng reserve had been steadily and 190 HISTORY OP BANKING IN SCOTLAND, largely falling, and on 24tli October reached the low point of £3,485,840. On 27th October the Borough Bank of Liverpool failed, after a hopeless appeal to the Bank of England for assistance. The Northumberland and Durham District Bank also applied for assistance ; but, after exami- nation, aid was refused, and it had to succumb.
What to read after History of Banking in Scotland;?
You can find similar books in the "Read Also" column, or choose other free books by Andrew William Kerr to read onlineMoreLess
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