‘s Government was so low in London that it was impossible for it to borrow any large sum; and the evil was the greater, because in consequence of the French war the financial straits of the Government were extreme. In war, no doubt, this is all reversed; the account of a government at war is probably the most uncertain of all accounts, especially of a government of a scattered empire, like the English, whose places of outlay in time of war are so many and so distant, and the amount of whose payments is therefore so incalculable. ‘ They would not much mind hurting his feelings, and if he resigned they would have themselves a valuable piece of patronage to confer on one of their own friends. A day might come when his favour might mean prosperity, and his distrust might mean ruin. But the Bank directors are not afraid. The offer of no other securities would have tempted them, for they had confidence in no other securities. Undoubtedly such a permanent official should be a trained banker.