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Published online by Cambridge University Press: 16 January 2009
In the three complementary parts into which this book is divided, namely, The Story, The Legal Solutions, and The Financial Solution, Sir Cecil Kisch has set out the several aspects of the famous Portuguese Bank Note Case (Banco de Portugal v. Waterlow & Sons, Ltd. [1932] A. C. 452) in a way to quicken the mind and gladden the heart of lawyer, economist and dilettante in detection alike. The primary purpose of the book, however, is to put to the test of economicanalysis the various views brought out in the course of the case as to the measure of loss to the Bank of Portugal arising from the fraudulent issue of Vasco da Gama notes
2 The purely legal aspect of the case is annotated, post, p. 103—ED.
3 The further claim by the Bank that notes whilst still in its vaultpossess such real value was of course rightly denied in the final judgment. It is only through the normal statutory processes of issue that they acquire such value. The term &‘valuta’, borrowed from continental usage, embraces the various recognized kinds of liquid assets in foreign currencies.
4 p. 271.
5 p. 278.
6 p. 242.
7 pp. 272–8.
8 p. 242.
