Herald of the times, and Rhode Islander. [volume] (Newport, R.I.) 1846-1849, 1848-09-21
Bank of England.

\ Oi all modern banks, the Bank OF England
stands preeminently as tlp mammoth mon
ster." The cdlfce usedfoy John Bulls mon
sier is an immense structure, covering five
acres of ground, having no windows in either
of ts fronts, but receiving light from above or
from It's courts. II is open for business at nine
in the morning, and continues open until five
in the aflernoon-employ during these hours
between nine hundred and one thousand per-
sons. At O'Clock in the evening a detach-
ment of soldiers are marched from the Tower
into the Bank, where they mount guard until
seven o'clock the next morning. A recent
letter from the intelligent, correspondent of the
n. Y. Commercial Advertiser is wholly occu-
pied with description of a visit which the VIII
ter paid to this wonderful institution We
make the following extracts -
The Bank has capital of eighteen millions
sterling, aud is managed by Governors, &c.
It's notes are never re-issued by the Bank, after
being presented for payment. They may con
tinue in circulation for any time, and pass
from one bank to another but when present
ed TO the Bank for specie, the name OF The per
son presenting must be endorsed, with his
residence; then after a careful examination,
the note is paid and cancelled.
| The printing of bills dc. required by the
Bank and It's 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 Engla or Scot
land.
Each note is printed on what is called one
sheet OF paper; the lowest denomination ls
five pounds the highest one thousand. One
of lhc most ingenious pieces OF mechanism |
have ever seen ls that used to mark the number
on each bill. There is no change OF number
by hand, but all is done by this machine, and
steam power.
/ When the bills have passed through the
hands of the printers, they are sert to the dry
ing room, where they are again counted and
dried they are then put up into convenient
packets and sent to the cashiers room Tor
Isignatup. lhcuce thcy go 10 the register $
department, and from that oice are brought
back to The Treasury Here they are kept
in fire p'oOf IRON cases. which cUYer al the
sides OF the room. The room itself Is FIRE
Ipr ,oi. there being only one thing that can burn,
the counter On one side Of this room the
cases are filed with gold, lied in bags, and
on the other the bills in packages, convenient
for the paying teers.' There are two large
locks TO each case and the KEYS are kept by
separate officers. so that both must be present
Before any sum can be removed. held IN my
hand. while in this room, hco millions sterling,
all ready to b" put IN circulation.
Each day from thirty TO thlrty-siX thousand
bills are printed. The ink is made IN the Bank,
aud it Is ol such peculiar composition that by
ls cnec together with that OF the high sized
paper, the blankets used on the presses re-
Quire 10 be washed by steam al least once day.
! The highest number of the notes is 99.999.
When that number is reached, they return TO
no. |. with new i1ie The pressmen and
mosl of the machuists receive I3 per week
| i'hc females in the blndery and ruling rooms
from fifteen shlihngs TO one pound per week.
/ In one of the rooms ninety seven clerks are
iemp0yed whose business is to examine the
notes by register. and so minute and accurate
is the concern that 1t Is known in the Bank
what notes are out, aud who received them
aud it is the practice of all bankers, IN town or
country, to take the number of each note be-
fore it i paid, and to whom paid. This Is a
work of time, but il gives great security.
The are seyera, families residing IN the Bank,
who have very comfortable accommodations.
There is also Bank kachca as well as Bank
parlJr. This is for the accommodation OF the
directors on duty, who may wish cup Of coffee,
or a beasteak, &c.