Total circulation under the new bill. .fal $40
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Total circulation under the bill. .f3l ,5l9,s76


The anticipated dangers under the new system can
only be experienced during drain Of bullion caused by
short crops balance Of trade through heavy imports
Take the amount Of bullion in the bank according to the
last returns and the circulation would vary but tre
from the present amount In October, 1885, the amount
OF bullion in the Bank Of England was reduced to
fa525.0oO, having fallen from flO, 10000 since April


1885, period Of eighteen months This drain caused
by bad harvess and the would again produce
the results The only danger the private banks and
other classes in Great Britain have to encounter is the
drain Of bullion and when that time arrives the in
dated the paper currency the deporabe the effects
The proposed bill Of Sir Robert Peels requires, the
part OF the Bank Of England contraction Of paper
issues in proportion TO the reduction Of bullion in the
vaults This regulates and equazes the value Of the
currency twill be seen by the following table that
during the great drain Of specie from 1888 to 1885, the
circulation underwent but very small contraction