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	Book Ref No. - 4771
	THE COLLAPSE OF THE BANK OF BOMBAY - BANK OF BOMBAY Report of the Committee of English Shareholders. London, Waterlow & Sons, 1868 8vo, 70pp, recently well bound in blue boards, lettered on upper cover, paper label on spine, a very good copy. Apparently the first (only?) published edition. No reference to this in the Bank of England catalogue. Not in Black or Masui, although Masui (p.114) does list a related paper [The late Government Bank of Bombay, London, 1868, 94pp.]. COPAC locates copies at BL + Univ. of London. Responsibility for the notorious collapse of the Bank of Bombay was laid by the shareholders firmly at the door of the British government. In their pretty robust memorial to the Secretary of State for India they claimed that "it was a matter of common report in Indian circles" that the Official Directors of the Bank of Bombay had been "mixed up in the speculations which led to the Bank's ruin" and that "they, or some of them, had accepted money favours from the directors and promoters of those specualtions in loans, to whom, or on the shares of whose companies the great bulk of the Bank's money had been lost and the Bank ruined". The Secretary of State for India was Sir Stafford Northcote. The Bank of Bombay, one of the so-called Presidency Banks, had been established in 1840. Its collapse in 1866 was caused largely by an uncontrolled lending mania in 1864-65 following the authorisation in 1863 of advances, previously prohibited, on the shares of private companies. Keywords :- banking, Sir Stafford Northcote, Bank of Bombay Price - £125

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