THE HOME CRISIS.
To the Kilitoi- of the Herald. Sii:, —In an article this morning on the panic in the London money market, you state that the London and Westminster Hank has lost £">OO,OOO, and then go on to state that the reserve at the bank 13 said to be £14,000,000. That is scarcely correct. The London and Westmiust r Bank reserve 011 November 3, IS7I, was £1,040,110, its paid-up capital being .£2,000,000. The reserve of the Bank of England on October 1, 1574, was only £3,027,359, its capital on the same date being £14,553,000, but of course the Bank of England has the advantage of being allowed to issue its own notes to the amount of £14,000,000 on security of the State.—l am, &c., Wiiitaker's Almanac. July 19, 1575.
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Bibliographic details
New Zealand Herald, Volume XII, Issue 4269, 20 July 1875, Page 3
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130THE HOME CRISIS. New Zealand Herald, Volume XII, Issue 4269, 20 July 1875, Page 3
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