Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1853-07-27

xT4kave been making most interestin
md Instructive visit to the Bank Of Eng
Hand. For admission into tine interior
] this remarkable building, to observe the or
4 erations of an institution that exerts NOR
.|saoral and political power than any sover
eign in Europe, you must have an orde
from the Governor of the Bank, and thu
wa. given to me through the Barings, who's
kindness, especially that of Mr.. Sturgiss,
have constantly experienced. The Ban
building occupies an irregular area OF e'gh
acres OF ground: an edifce of no archltec
tural beauty, with not one window towar'
the street, being lighted altogether from tn
roof or the enclosed areas. The ordinar,
busines, apartments differ from those IN ou
banks only in their extent, a thousand clerk
being constantly on duty, and driven Will
business at that But TO form any adequate
idea of what the Bank is, we must pene
trate its recesses, its vaults and office:
where we shall see such operations as are
not known in Wall street. was led, or
presenting my card of admission, into prl'
vate room, where after the delay of few
moments, messenger came and conduct.
eG me through the mighty and mysterious
building. Down we went into room where
the notes of the Bank received yesterday
were now examined, compared with the
entries in the books, and stored away
The Bank of England neuer issues The same
mole a second time. II receives in the ordi-
nary course Of business about gSOO, 600, or
$4,OOO,00O daily in notes: these are put
up in parcels according to their denomina-
ton, boxed up with the date of their recep-
ton, and are kept Ten years at the expra,
ton of which period they are taken out and
ground up in the mill which | saw running,
and made again into paper Ifin the coarse
of those ten years any dispute in business,
or law suit should arise concerning the pay
ment of any note, the Bank can produce
the identical bill. To meet the demand tor
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 the most of its own work is DONE
A complicated but beautiful operation is
register, extending from the printing office
to the banking Offices, which marks every
sheet of paper which is struck off from the.
press, so that the printers cannot manufac-
ture single sheet OF blank notes that is not
recorded IN the Bank. On the same prin-
ciple of eXactness, shaft is made to pass
from one apartment to another connecting
a clock in sixteen business wings Of the es-
tablishment, and regulating them with such
precision that the whole of them are al
ways pointing to the same second of time !!
In another room was machine exceed
ingly SIMPLE for detecting light gold coins.
A row of them dropped one by one upon
spring scale: if the piece of gold was of the
standard weight the. scale rose to 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 allow
ed to answer!
The next room I entered was that in
which the notes are deposited, which are
ready for issue. eve have thirty-two mil
lions of pounds sterling in this room,' the
officer remarked to me, "will you take a
little of it," told him it would be vastly
agreeable, and he handed me million s!er-
ling, five millions of dollars. which re-
ceived with many thanks for his llberality,
but he insisted on my depositing it with
him again, as it would be hardly safe to
carry so much money into the street. |
very much fear that | shall never see that
money egain. In the vault beneath the
floor was Director and the Cashier count
ing the bags of gold which men were pitch
ing down to them, each bag containing a
thousand pounds sterling, Just from the
mint This world of money seemed to re-
alize the fables of Eastern wealth, and gave
me new and strong impressions of the mag
nitude of the business done here, and the
extent of the relations of this one lnstltu-
ton to the commerce Of the world.-Cor-
respondent of ". Y. Observer.