on January 16th, and as amended according to his
ideas:--

BANK STATEMENT, JANUARY 16, 1918.

ISSUE DEPARTMENT

Notes Issued .. L76,076,000 Gold .................. L57,626,000
Government Debt ....... 11,015,000
Other Securities ...... 7,435,000
----------- -----------
L76,076,000 L76,076,000
Ratio of Gold to Notes Issued = 75.7 per cent.

BANKING DEPARTMENT.

Capital ....... L14,553,000 Government Securities ...... L56,768,000
Rest .......... 3,363,000 Other Securities ........... 92,278,000
Deposits-- Notes .......... L30,750,000
Public L41,416,000 Gold and Silver 1,143,000
Other 121,589,000
----------- 163,005,000 ------------- 31,893,000
Other Liabilities ... 18,000
----------- -----------
L180,939,000 L180,939,000

Ratio of Cash Balance to Liabilities = 19.6 per cent.

RECONSTRUCTED BALANCE-SHEET OF THE BANK,
JANUARY 16, 1918.

Capital L14,553,000
Rest 3,363,000
Notes Issued (circulation) 45,325,000
Deposits 163,005,000
Other Liabilities 18,000
___________
L226,264,000

Gold L58,768,000
Currency Notes 11,015,000
___________ L69,783,000

Government Securities 56,768,000
Other Securities 7,435,000
_________ 64,203,000

Other Securities 92,278,000
___________
L226,264,000

Ratio of Gold to Notes =129.7 per cent.
" " Cash Balance to Liabilities = 33.5 "

It need not be said that these proposals have aroused the liveliest
interest. At the Bank Meetings held since then several chairmen
have been asked by their shareholders to express their views on Sir
Edward's proposed revolution. Sir Felix Schuster pronounced cautiously
in favour of the revision of the Bank Act, and said that he had
advocated it seventeen years ago. Lord Inchcape, at the National
Provincial Meeting, thought that the matter required careful
consideration. Most of us will agree with this view. There is
certainly much to be said for a ref