DOI Seite / Zitierlink:
https://doi.org/10.11588/diglit.27741#0086
the history of Bombay speculation (pub-
lished in 1910*) I have given a brief
resume of the same. But it will be suffici-
ent here to quote the words of that official
Commission which was so ably presided
by the late Sir Charles Jackson, a former
Chief Justice of the Supreme Court of
Bombay, with the late Sir Maxwell Mel-
ville, a Judge of the High Court, and
Major Innes, Chief Military Accountant,
as members. That fatal clause according
to the Commission " was the direct cause
of the ruin which finally overtook the
institution." Further the Commission
remarked that "it may be that the old Act
was unnecessarily restrictive, but that did
not justify the removal of all restrictions.
They opened the door to great laxity of
practice and a ruinous system of bank-
ing, and were in fact the chief cause of
the bank's failure."
The removal of the restrictions and the
reckless way in which, after the capital
* Messrs. A. J. Combridge & Co., Pubtishers.
58
lished in 1910*) I have given a brief
resume of the same. But it will be suffici-
ent here to quote the words of that official
Commission which was so ably presided
by the late Sir Charles Jackson, a former
Chief Justice of the Supreme Court of
Bombay, with the late Sir Maxwell Mel-
ville, a Judge of the High Court, and
Major Innes, Chief Military Accountant,
as members. That fatal clause according
to the Commission " was the direct cause
of the ruin which finally overtook the
institution." Further the Commission
remarked that "it may be that the old Act
was unnecessarily restrictive, but that did
not justify the removal of all restrictions.
They opened the door to great laxity of
practice and a ruinous system of bank-
ing, and were in fact the chief cause of
the bank's failure."
The removal of the restrictions and the
reckless way in which, after the capital
* Messrs. A. J. Combridge & Co., Pubtishers.
58