The daily republic. [volume] (Washington, D.C.) 1853-1853, 1853-08-12

A correspondent Of the New York Observer
says:
81 have been making a most interesting and in
structive visit to the Bank Of England. For adj
mission into the interior Of this remarkable build
ing, to observe the operations Of an institution
that exerts more moral and political power than
any sovereign in Europe, you must have an order
from the governor of the bank, and this was
given to me through the Earrings, whose kin1ness,
especially that of MIR. Sturgiss, have constantly
experienced, The bank building occupies an ir-
regular area Of eight acres of ground; an edifice
of no architectural beauty, with not one window
towrrts tho-st~eets, being lighted altogether from
the roof or tue cnclosed areas. The ordinary
business apartments differ from those in our banks
only in their extent, thousand clerks being con-
stantly OH duty, and driven with business ut that.
But to form an adequate idea Of what the bank is
we must penetrate its recesses, its vaults and Of
fees, where we shall see such operations rs are
not known in Wall street. was led, on present
ing my card of admission, into private room,
where, after the delay of a few moments, a meg
senger came and conducted me through the
mighty and mysterious building. Down we went
in a room, where the notes Of the bank received
yesterday were now examined, compared with the
entries ON the books, and slowed away. The
Bank Of England issues the note second
time. 1t receives in the ordinary course of bust
about $500, 0O0 or "a 900 900, daily in notes;
these are put up in parcels according to their de-
cepton, 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.
"ifin 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 engravers, oil ut
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 u
register extending from the printing offices to the
banking Offices which marks every sheet of paper
which is struck off from the press, that the prin
tiers cannot print single sheet of blank notes that
is not recorded in the bank. On the same prnci-
pie of exactness shaft is made to pass from one
apartment to another, connecting clock in six
teen business wings of the establishment, and re-
gulating them with such precision that the whole
Of them are always pointing to the same second
of time. @ 4fE
ssIn another room was a machine exceedingly
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 certain height, and the coin slid off
upon one side into box; if less than the stand
ard it rose little higher, and the coin slid off
upon the other side. | asked the wegher 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 answer.
s'The next room entered was that in which the
notes are deposited which are ready for issue.
'We have thirty-two millions of pounds sterling
in this room,' the officer remarked to me; will
you take little of it?' told him it would be
vastly agreeable, and he handed me million
sterling, Give millions of dollars,) which Ireceiv-
ed with many thanks for his liberality; but he in
sisted 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
meath the floor was director and the cashier,
counting the bags Of gold which men were pitch
ing down to them, each bag containing thou
sand pounds sterling just from the mint. This
world of money seemed to realize the fables of
Eastern wealth, and gave me new and strong i'm
pressions of the magnitude Of the business done
here and the extent of this one institution on the
commerce of the world. y t,