Polynesian. [volume] (Honolulu [Oahu], Hawaii) 1844-1864, 1853-12-31
Gbe 1)olpnesian.
The Bank Of England.

1
An intelligent correspondent of the N. Y
Observer says:
"I have been making most interesting
and instructive visit to the Bank Of England
For admission into the interior Of this re-
markable building, to observe the operations
OF an institution that exerts more moral and
political power than any sovereign in Eu-
rope, you must have an order from the Gov
ernor Of the Bank, and this was given to me
through the Barings, whose kindness, espe-
ciaf1y that of Mr.. Sturgiss, have constantly
experienced. The bank building occupies
an irregular area of eight acres of ground; an
edifice of no architectural beauty, with not
one window towards the street, being lighted
from the enclosed areas. The ordinary busi-
ness apartments differ from those in our
banks only in their extent; thousand clerks
being constantly on duty, and driven with
business at that. But TO form an adequate
idea Of what the bank is, we must penetrate
its reccsses, its vaults and Offices, where we
shall see such operations as are not known
| in Wall street. ! was led on, presenting my
card OF admission, into private room, where
after the delay Of few moments, messen-
ger came and conducted me through the
mighty and mysterious building. Down we
went in room where the notes Of the bank
received yesterday, were now examined,
compared with the entries on the books, and
stored away. The Bank Of England nerer
issues the same note second time 1t receives
in the ordinary course Of business about
fsO0, 900, or S4 900, 900, daily, in notes j.;
these are put up in parcels according to their
denomination, boxed up, with the date OF
their reception, and are kept ten years; at
the expiration of which period they are taken
out and ground up in the mill, which saw
running. and made again into paper.
If, in the course of those ten years, any
dispute in business or lawsuit should arise
concerning the payment Of any note, the
bank can produce the Identical bill. To
meet the demand for notes so constantly used
up, the bank has its own paper makers, its
own printers, its own engravers; all at work
under the same roof, and it even makes the
machinery by which most of its own work is
done. A complicated, but beautiful opera
tion is register extending from the printing
Offices to the banking Offices, which marks
every sheet Of paper which is struck off from
the press, so that the printers cannot print a
single sheet of bank notes that is not record
cd at the bank. On the same principle OF
exactness, shaft is made to pass from one
apartment to the other, connecting a clock
ment, and regulating them with such preci-
sion that the whole ofthem are always point
| ing to the same second of time.
| In another room was a machine exceeding
ly simple, for detecting light gold coins. A
row of them dropped one by one upon a
spring scale; if the piece OF gold was of the
STANDARD weight, the scale rose to a certain
height, and the coin slid off upon one side
into box; if less than the standard it rose a
| little higher, and the coin slid off upon the
other side. asked the weigher what was
the average number of light coins that came
into his hands, and strangely enough, he said
it was question he was not allowed to an
swer.
The next room entered was that in which
the notes are deposited which are ready for
issue. ave have thirty-two millions oi
pounds sterling in this room," the officer re-
marked TO me ''will you take little of it 2"
told him it would be vastly agreeable, and
he handed me million sterling, five mil
lions of dollars, which received with many
thanks for his liberali,y; but he insisted on
my deposting it with him again. as 1t would
be hardly safe to carry so much money into
the street. | very much fear that | shall
never see that money again. In the vault
beneath the floor was director and the cash
ier counting the bags of god which men were
pitching down to them, each bag containing
thousand pounds sterling just from the mint
This world Of money seemed to realize the
fables of Eastern wealth, and give me new
and strong impressions of the magnitude ol
the business done here. and the influence o.
this one institution on the commerce of the
world.
lComparative Yield If the Australian and