1.   The second argument involves the transactions demand for holding cash balances instead of interest-bearing assets.

2.   Although the council had so far managed to hold a balance, its ability to do so once the king was crowned was more doubtful.

3.   The government does not hold balances, other than working amounts, with other banks.

4.   These balances are held in the Banking Department.

5.   Also the possession of a credit card reduces or even eliminates the need to hold precautionary balances for many people.

6.   People will be more inclined to hold speculative balances of money in anticipation of a rise in interest rates.

7.   People hold speculative balances of money when they anticipate that interest rates will rise.

8.   The reason is that, as interest rates fall, although people may buy fewer UK securities, they will not simply switch to holding idle balances of sterling.

9.   But whites still hold the balance of political power on both the City Council and the County Commission, and they hold almost all the economic power.