Silent Ring Icon
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Merge in last quarter of XIX century, it is necessary to notice abnormality That position in which the Law has put provincial banks of issue. As acquisition, whether by direct purchase or was forbidden to them in Result of merge, the right of emission of other banks of issue, it led
Preservation of small banks even in those situations when their association was
Economically expedient. So occurred because profit in a case
Preservations behind itself of the issue rights could outweigh benefits of association in
More major concern. Secondly, those joint-stock banks that spent
Issue activity, remained out of the London market and, that
To make payments under the bills in London, have been compelled to pay
Correspondent costs. In this sense especially indicative there was a case
Neshnl Provinshial Benk. Unlike London it Westminster Benk founded
Within the limits of the Law of 1833 as the London bank without the rights to issue, it,
According to the Law of 1825, has been based as the joint-stock issue
Bank. Thus, though its main office from which the general was carried out
Management of all its branches, also was in London, to it, nevertheless,
It was forbidden to spend any bank activity in territory
Capitals. Such anomalies of Gledstoun (Gladstone) tried
To liquidate in Bill about issue in a province (Country Note Issues Bill),
Left in 1865 In exchange for cancellation mentioned above the restrictions, those banks,
That would prefer to use advantages of the new law (the Certificate had strictly
Allowing character), should pay the tax at a rate of 1 % from
The maximum of banknotes addressing in the market confirmed for them. Besides,
The government had an opportunity completely to cancel any of such issues
After the lapse of 15 years. It and Goshen (Hankey and Goschen) later have achieved
Amendment acceptances in this article which has transformed the government right
To recognise issues void in the obligation. Thereby, the amendment
Became the tool of prohibition of circulation of the papers which have been let out by private soldiers
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