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Volume 2 - ElectricCanadian.com

Volume 2 - ElectricCanadian.com

Volume 2 - ElectricCanadian.com

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482 HISTORY OF THE BANK1. The movement of food products from all ports to thisTo do this they recognize they must give ownerscountry. 1and merchants confidence that their loss can be defined bythe amount of premium for war risk which they would haveto pay upon the hull and upon the cargo. To lend addedit was determined that the maximum rate would notsecuritybe more than five guineas per cent., and that to protect thethan oneGovernment the minimum rate should not be lessguinea per cent.2. The other object was to insure transportation formanufactured products from Great Britain, thus enablingmanufacturers to continue giving employment to their workpeople,and thereby measurably limiting the extent of thedistress which will be occasioned because of the war.'This memorandum was drawn up in England.

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