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case for working through licence and penalty rather than through the
banning, of the securities effected, from sanction for dealings
From the Stock Exchange point of view it is easy to make out a good
case for working through licence and penalty rather than through the
banning, of the securities effected, from sanction for dealings. By
thus being used as […]

‘They manage these things differently in Germany. In the three
banks to which we have already referred, after payment by the
Deutsche Bank of 5 per cent. of the net profits to reserve, and
of the ordinary dividend of 6 per cent., and by the
[…]

in to both sides of the account
But, of course, there are still some large and uncertain sums to come
in to both sides of the account. There is the cost of maintaining our
Army and Navy during the armistice period, the cost of demobilisation,
and the cost of putting an end to war munitions contracts running for
many months […]