Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1847-11-17
From Hunts Merchants Magazine.
'Fh0 Bank of ENGLAND.


on visit to England, was favored with an
of examining ''the interior and
exterior of the mighty engine, which guides,
in some measure, the commerce and polit-
ical movements Of Europe, if not of the.
world.'' Although we have published, in
former volumes of the Merchants Maya
zine, descriptions of the bank, the account
Of Mr.. Hall is so brief, and yet compre-
lensive, we cannot resist the temptation OF
copying it entire:
The Bank of England is an immense
mountaineering five sacres. Of ground, /
having nd wdlao-s ii ciffIer or IT'S fronts,
but receiving: light from above, or from
its courts. Ii is open for business at nine
in the morning, and continues open until
five in the afternoon employing during
these hours between nine hundred and one
persons. At seven o'clock inl
the evening detachment of soldiers are
marched from the 'sTower" into the bank,
where they mount guard until seven o'clk.
the next morning.
The bank has a capital Of eighteen mill
ions sterling, is managed by governors, &c.
It's notes are never re issued by the bank,
after being presented for payment. They
may continue in circulation for any time,
and pass from one bank to another, but
when presented to the bank for specie, the
name Of the person presenting must be en-
dorsed with his residence; then, after a
careful examination, the note is cancelled.
The printing, binding, &C., required by
the bank and its branches, are done within
the building by the most approved methods.
The steam presses and all the machinery,
are the best that can be obtained in Eng
land or Scotland.
So admirably arranged is everything,
from the engine room to the bank parlor,'
that every room resembles toy shop. No
'stoker' or engine 'driver is required to at
tend on the fire or look after the engines
during the day. The fire is fed in the
same manner thai wheat is ground. In
the morning sufficient quantity is put into
the hopper and that sends regular supply
into the gates or stoves, and nothing fur
ther is required. The water is supplied in
the same way; and should there be any
want of water, by accident or otherwise,
an alarm is sounded by a whistle. ~ =
Each note is printed on what is. called
one sheet of paper; the lowest denomina-
ton is Ave pounds, highest one thous-
and. The paper is first counted to those
whose duty it is to 'wet it down. Ibis IS
done bta steam process Ef9e poAer
is in a proper state to be worked, it is lock-
ed up in boxes and sent to an officer, who
recounts it. 1t is then counted again in
parcels of one hundred sheets, and put into
boxes, which are locked and placed into a
sliding case readily for the pressmen, who
are at work above. These sheets are
drawn up and printed and returned in the
same manner; every sheet worked regis
ters itself and it is as we'll known in the
room below, what number A. B is printing
above, as by himself If, by accident, A
B 'spoils Sheet it must be marked as
such, and every particle Of the spoiled
sheet sent down. Every note or bill pass
es through the hands Of two sets of press.
men. First, they. are printed without the
number and date. Secondly the number
and date are added, when they are ready
for the finishing touch, the signature OF one
of the cashiers. One Of the most ingenl-
Gus pieces of mechanism have ever seen
is that used to mark the number on each
bill. There is no change of number by
hand but oil is done by this machine, ane
BY steam power.
When the bills have passed through the
hands of the printers, they are sent to the
drying room, where they are again count
ed and dried: they are then put up into
convenient packets, and sent to the cash
ier's room for signature. Thence they
go to the registers department, and from
that office are brought back to the treasu
ry. Here they are kept in fire proof iron
cases, which cover all the sides of the
room. The room itself is fire-proof, there
being only one thing that can burn' th'
counter. On one side ofthe room the ca
ses are filled with gold, tied up in bags, ant
on the other the bills in packages, conve
nient for the paying tellers.' There art
two large locks to each case and the key
are kept by separate officers, so that bot
must be present before any sum- can be re
moved. held in my..hand, while in thi
room. t,vo millions sterling; all ready to b
put in circulation.
f Each day from thirty to thirty-six thous
and bills are printed. The ink is made il
, the bank, and it is of such peculiar CON
, position that, Dy ltS eHects toSetlet "i'''
high sized paper, the blankets used on tn
, presses require to be washed by steam
least once day. The high hest number
F the notes is SO, 1899. When that numbe
is reached, they return to No: l. with
7 new date. The pressmen and most OF tn
machinsts receive e3 per week; the II
!. males in the binding rooms, from httee
!, shillings to one pound per week.
f The clerks are paid good salaries aite
, thew have been some years in the servlt
2 of the bank. They commence howeve
at a. low rate, but soon become high
j graduates with an increased salary IN n, tt
. bank, or are transferred to one OF i
' branches. The plan of personal seGurl
is frequently observed as in the Unit
G States; but was informed that there IS
e institution called the guarantees funa
o which an individual, paying SO much P
II month, becomes member; and this ms
S, tuition is security for its members-tn
of securing the. bank against loss, or the pal
le full alternative Of calling on personal sec
<. rity in case of mal-administration.
CT oJa