Note 126 — Chapter II
Reading edition
The Indian Paper Currency Act carried the principle of separation further than did the English Bank Charter Act. It not only prevented the Issue Department being conducted under the ægis of a Banking Department, but also disallowed the two being housed under the same roof. Such an ideal of separation was held out by Sir Charles Wood during the debate on the Bank Charter Act. Cf. Hansard Parliamentary Debates, Vol. LXXIV, p. 1363. Though he was then disappointed, he did not fail to realize his ideal when he became the Secretary of State for India.