I trust that will not long be delayed; for when it comes, it will obliterate all

Up to the time of the Mutiny the office of Secretary and Treasurer was held by a Covenanted Civilian.

Since that time they have succeeded in attracting so large a volume of deposits as to make them an important part of the banking system of the country. The term banking was then applied only to the issue of notes and the taking up of money on bills on demand. We need not too precisely examine such language; the element of truth in it is very plain–the great advances made to Overends were a principal event in the panic of 1857; the bill-brokers were then very much what the bankers were lately they were the borrowers who wanted sudden and incalculable advances. It will lie idle in the banks, as we have often seen it. Let us suppose that the state of the Australian exchanges is such that it pays to remit sovereigns from Australia to London anyhow, and assume, for the sake of simplicity (and without, in fact, any substantial sacrifice of truth), that the cost of freight and insurance from Australia to London is the same as from Australia to India.

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