LIQL-Ir, RESOURCES,, In thefirit - plaee, therefore, it is essential that out
of the total -.banking resources available at least 10 per cent. shall;be kept unused, or to be more precise, shall be held till" money with large balances on deposit at the Bank of England, so that they Can be drawn upon at any rime. Indeed, it is, out of these huge balances with the Central Institution that the banks are able to effect their daily settlement of cheques through the "clearings." How greatlisthistotal of unused Money held by the bankis so as to enswe full.,liquidity of the position will be gathered from the fact that on the date of the latest Bank Return now before me the figure was -over' £86,000,000. Here, then, we have a considerable part of the bankers' funds earning no interest at all so as to ensure a perfectly sound position for the depositor.
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