We will now examine the weekly “Return” issued by the Bank of England in accordance with the requirements of the Act of 1844, and consider the significance of the various items appearing therein. The Return is made up to the close of business on every Wednesday, and is published on Thursday. Though the figures given always attract attention, and are regularly made the subject of analysis and criticism in the financial articles of the Press, yet the interest taken in the Return varies considerably from time to time. During periods of financial quiescence this interest is somewhat of an academical character; but in times of doubt and distrust a very real and practical interest is exhibited, not only by the group of bankers, bill-brokers, and merchants constituting the “Money Market,” but by that section of the general public who have financial transactions at stake, and who possess the requisite knowledge to understand the true import of the figures of the Return. For the purpose of our analysis we will take the Return of the 2nd September, 1903. ISSUE DEPARTMENT --------------------------------+------------------------------ £ | £ Notes issued 51,831,835 | Government debt 11,015,100 | Other securities 7,434,900 | Gold coin and | bullion 33,381,835 ---------- | ---------- £51,831,835 | £51,831,835 ========== | ========== BANKING DEPARTMENT --------------------------------+-------------------------------- £ | £ Proprietors’ capital 14,553,000 | Government securities 18,260,841 Rest 3,740,209 | Other securities 24,969,260 Public deposits 7,393,580 | Notes 22,322,875 Other deposits 41,872,061 | Gold and silver coin 2,119,339 Seven-day and | other bills 113,465 | ---------- | ---------- £67,672,315 | £67,672,315 ========== | ========== ISSUE DEPARTMENT