Real Money Versus Banks of Issue Promises to Pay the Most Imprtant Factor in Ci

Cover Real Money Versus Banks of Issue Promises to Pay the Most Imprtant Factor in Ci
Real Money Versus Banks of Issue Promises to Pay the Most Imprtant Factor in Ci
T Cushing Thomas Cushing Daniel
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The record will show that the debt due by the Govern- ment has increased from £11, 015, 100 to £14, 686, 800 and 185 Real Money.
is now going ahead of the increased capitalization of the bank. Therefore, the right of the Government to issue money has gone, so long as the Government is in debt to the Bank of England, and this will be the case indefinitely, as the national debt of the British Empire is $7, 875, 347, - 645 (Statesman's Year Book, 1910) and the bank can increase its holdings at any
... time. She can, therefore, never expect to rid herself of the Bank of England, short of repudiation of her debt.
Statement of the Bank of England.
Notes issued £53, 364, 645 Government debt £11, 015, 100 Other securities 7, 434, 900 Gold coin and bullion 34, 914, 645 £53, 364, 645 This statement shows the entire gold coin and bullion held by " The Bank of England " is only £34, 914, 645, whereas its note issues alone amount to. .. . £53, 364, 645 and its outstanding deposit liabilities £58, 299, 718 £111, 664, 463 Yet this bank poses as the guardian and protector of the so-called " gold standard.


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