A short inquiry into the progitable nature of our investments; With a record of more than five hundred of our most important public securities during the ten years 1870 to 1880 ... - Softcover
Inhaltsangabe
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1881 edition. Excerpt: ...This is not an occasion upon which it will be possible to discuss the peculiar constitution of either Scotch or Irish Banking Companies. Even the "profit and loss account" of the one-pound note plan has on so many occasions received full consideration, that much further discussion of the matter would be useless. Both the Scotch and Irish systems undoubtedly involve a heavy expenditure, a considerable proportion of which cannot be directly profitable. The restrictions under which their notes are issued prevent any very appreciable profit upon them; while as the branches of the Irish Banks average more than fifty each, and those of the Scotch Banks are not far short of one hundred each, these facilities--afforded to almost every village in the two countries--are in their nature costly. This matter is concisely referred to by Mr. Inglis Palgrave in his "Notes on Banking":--"The large number of branches must, however, be a cause of great expense, and in several other respects it is obvious that a business carried on in such thinly peopled districts as are found in many parts of Scotland, must be conducted to a disadvantage in comparison with those banks which deal with more active centres of commerce. Although the profit derived from their large issues of notes may be considerable, yet, when we consider the many expenses incurred in conducting a large note circulation, the cost of printing, stamp duty, and the charges on importing gold from London when the circulation exceeds the limit fixed by the Act of 1845, no small deductions must be made from the apparent profit to be derived from this head." Most of the Scotch Banks have sought to add to their profits by the establishment of London offices, and it is...
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