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Show TRADE BANK PLANNED. A new departure in the way of banking bank-ing facilities has been recommended in a report of a British board of trade committee. In this report it is urged that a trade bank be established under royal charter to fill the gap between the home banks and the colonial and British Brit-ish foreign banks and to develop facilities facil-ities not provided by tho present banking bank-ing system. The important features of the proposed bank are as follows: O) It should have a capital of 10.0nij,o00 ($ks,i35.'JOO at the normal' I'iite of exchange). Tho first issue should be LI'.SOU.OOO to 5.000.000 ( y,0'Js, uoo to $lS.ur.ti,400), upon which m the fi rst insta nee only a small amount should be paid up, but which should all tie called up within a reasonable rea-sonable time. A further issue should be made afterward. If possible, at a premium. (.2) It should not accept deposits at call or short nutice. ('i) It should open current accounts ac-counts only lor those who are proposing pro-posing to make use of the overseas facilities that it could afford. (4) It should have a foreign exchange ex-change department, where special facilities fa-cilities might be afforded for dealing with bills in foreign currency. (5) It should open a credit department depart-ment for the issue of credit to persons per-sons at home and abroad. (6) It should enter into banking-agency banking-agency arrangements with existing colonial or British foreign banks, and where such arrangements were made - It should undertake not to set up for a specified period its own branches or agencies. It should have power to set up branches or agencies where no British foreign bank of Importance exists. (7) It should inaugurate an infor- , matt on bureau. (S) It should endeavor not to interfere in-terfere in any business for which existing ex-isting banks now provide facilities, and It should try to promoLe working transactions on joint account with other banks, and should invite other banks to submit to it new transactions transac-tions which, owing to length of time, magnitude, or other reasons, they are not prepared to undertake alone. (9) Where desirable, it should cooperate co-operate with the merchant and manufacturer manu-facturer and possibly accept risks upon joint account. (10) It should become a center for svndicate operations, availing itself of the special knowledge that it will possess pos-sess through its information bureau. (11) It should receive government assistance. If anyone imagines for a single instant in-stant that Great Britain and all the other great nations now at war are not preparing for the great fight for the trade of the world he should discard such views at once, for evidences that such is the case are multiplying each day. The proposed trade bank is only one piece of trade machinery. There are many others. . ' |