Indian Finance And Banking
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In our eReader you can find the full English version of the book. Read Indian Finance And Banking 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 Indian Finance And Banking
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In the United Kingdom, as in India, only a small percentage of the total transactions was before the war carried out by means of gold. In Egypt, however, gold was in circulation to a considerable extent. It was the only country in the world which used gold largely in its total payments. This import and export of sovereigns were not only an economic loss to Egypt, but an annual source of inconvenience to the money markets of the world, and indirectly, as a con- sequence of this, to Egypt itself.... In order to bring about such a state of affairs in India in regard to gold as obtained in Egypt, it would be necessary to with- draw from circulation at great expense a very large part of the rupee circulation and the note circulation. A circulation of gold has already proved itself, in those districts of India where it was actively tried, to be at the expense of notes, and notes are, of course, a very cheap and convenient form of currency. The X GOLD CURRENCY AND GOLD MINT 285 Currency Report of 1912-13 summed up the position thus : Gold has replaced rupees to a large extent in the Punjab and to a smaller extent in Bombay and the United Provinces also.
What to read after Indian Finance And Banking?
You can find similar books in the "Read Also" column, or choose other free books by G Findlay Shirras to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In the United Kingdom, as in India, only a small percentage of the total transactions was before the war carried out by means of gold. In Egypt, however, gold was in circulation to a considerable extent. It was the only country in the world which used gold largely in its total payments. This import and export of sovereigns were not only an economic loss to Egypt, but an annual source of inconvenience to the money markets of the world, and indirectly, as a con- sequence of this, to Egypt itself.... In order to bring about such a state of affairs in India in regard to gold as obtained in Egypt, it would be necessary to with- draw from circulation at great expense a very large part of the rupee circulation and the note circulation. A circulation of gold has already proved itself, in those districts of India where it was actively tried, to be at the expense of notes, and notes are, of course, a very cheap and convenient form of currency. The X GOLD CURRENCY AND GOLD MINT 285 Currency Report of 1912-13 summed up the position thus : Gold has replaced rupees to a large extent in the Punjab and to a smaller extent in Bombay and the United Provinces also.
What to read after Indian Finance And Banking?
You can find similar books in the "Read Also" column, or choose other free books by G Findlay Shirras to read onlineMoreLess
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