I shall be asked if this anomaly is inevitable, and i am afraid that for practical

│ Deposits. , and they have on an average 31,000,000 L.


But still the detail must be well done; and some one must be specially chosen to watch it and to preside over it, or it will not be well done.

And these dealers, taking advantage of their peculiar knowledge, borrow immense sums from bankers and others; they generally deposit the bills as a security; and they generally give their own guarantee of the goodness of the bill: but neither of such practices indeed is essential, though both are the ordinary rule. Richardson described it sixty years ago. No company but the Bank of England could issue notes, and unincorporated individuals gradually gave way, and ceased to do so.

A banker who lives in the district, who has always lived there, whose whole mind is a history of the district and its changes, is easily able to lend money safely there. The expense of remitting gold from one country to another is made up of insurance, freight, and loss of interest. N. But banking comes as near to fixed rules certainly as any existing business, perhaps as any possible business.

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