At the beginning of the time the london and westminster bank had lent 5,000,000 l

A man of known wealth, known integrity, and known ability is largely entrusted with the money of his neighbours. Nothing can be truer in theory than the economical principle that banking is a trade and only a trade, and nothing can be more surely established by a larger experience than that a Government which interferes with any trade injures that trade.

They rely on cheapness, and rely successfully.

I think that the public would be quite satisfied if they obtained bank-notes. If the dominant banks manage ill, the rate of interest will at one time be excessively high, and at another time excessively low: there will be first a pernicious excitement, and next a fatal collapse. │ 1,200,000│ │Credited to Paper │ │ │ │ │ │ Currency Reserve │ │ │ │ │ │ in England │ 1,000,000 │ 2,545,000│ 1,988,000│ 400,000│ │Purchase of silver │. The Bank of England is governed by a board of directors, a Governor, and a Deputy-Governor; and the mode in which these are chosen, and the time for which they hold office, affect the whole of its business.