Page:The Bank of England and the State, 1905.djvu/76

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34
Foreign Trade and the Money Market.

of experts, and take the country into his confidence and let them know what that advice is and on what evidence it is based.

Conclusion.

I conclude where I began. Is it too late even now for us bankers and merchants in the City of London to impress on Parliament, if a new departure is to be made, the necessity for full expert enquiry into the general condition of our trade and of our industries. Surely as to this we all stand on common ground, and no man of business could possibly desire a momentous change in our Fiscal Policy without the clearest evidence that the proposed alterations will bring about the results which are claimed for them. Let us safeguard what we hold; let us know where we are going; let us not take a leap in the dark; let us carefully consider before any step is taken from which there can be no going back.

BANK DEPOSITS IN THE UNITED KINGDOM.
Year. Amount. Remarks.
£
1851 250,000,000 Mr. Newmarch’s estimate, including capital and note issues.
1874 530,000,000 Mr. John Dun’s estimate.
1877 159,256,000 The Economist. Deposits of all joint stock banks publishing accounts.
1883 622,844,000 Mr. Jas. Dick’s estimate, including notes.
1883 399,484,625 The Economist. Deposits of all joint stock banks publishing accounts.
1888 470,537,865 Dittodittoditto.
1893 683,806,765 The Economist. Deposits of all joint stock banks publishing accounts.
1898 781,787,078 Dittodittoditto.
1903 884,099,552 Dittodittoditto.
Foreign and Colonial Banks having London offices are not included in the above totals.