517
Silver in exchange for Notes, and we have hitherto always been in a position to meet such demands without in any way curtailing business.
Our ordinary business (in China) and the Straits, we work with large Cash balances, experience having taught us that it would be unsafe to adopt any other course.
It may not be out of place to mention that when the Oriental Bank failed, the strong position this Bank was in, both in China and the Straits, averted a panic that would have caused widespread ruin; we had enough Reserves for our own note issues, and, in addition, we cashed the Notes of the other Banks of issue, one of which there was a run, to the extent of over one million dollars, and restored the confidence so rudely shaken by the failure of the Oriental Bank Corporation.
In the event of our falling upon troublous times, and reports prejudicial to our credit being ...
517
Silver in exchange for Notes, and we have hitherto always been in a,
to meet such demands without in any
curtailing business.
eva
ay
position
༄”ན
our ordina: In China) and the Straik
we work with large Cash balances, experience having taught
-
ht us that
it would beunsafer to adopt any
other couree.
out.
It
may not be of place to mention that when the Oriental Bank failed, the strong position this Bank was in, both in China and the Straits, averted a panic that would have caused) widespread ruin; we had enough Reserves for o
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our own hote issues. and), in addition, we cashed the Notes
the other Banks of issue,
of
one
of
on which there was a pun, to the extent of
one million dollars,
Over
and restored the confidence so rudely shaken by the failure of the Oriental Bank Corporation).
In the event of our falling
upon troublous times, and reports. prejudicial to our credit being
1
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