The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-05-21
TERMS,--.S2,O0
From the washihgtoh Union.
THE RANK OF ENGLAND,

| England. Victoria Is a noble woman and q
Queen, but so far as the business and bodily
comfort of the people Of Great Britain are con-
cerned, the real King of England is the bank.
When that huge corporation Is happy and ol,li-
| ging so are the people, and when mOrose or
savage, the commercial classes find it a very diff.
| fruit n;atter to be amiable. Though We Of
this country do not recognize any such thing as
royal per0gativeS yet we H1'ISt confess that we
are BIZ no means beyond tho influence Of the
monetary establishment in question. A fort-
night ago for example, the American money
market was particularly easy but the news
came that the Bank of England had raised The,
rate of interest from six TO six and q half per
cent; when, 10, a little cloud was immediately
seen in our financial sky; another rise Of one,
half per cent having taken place, and the cloud
is more apparent For these reasons, we deefn
the present an appropriate moment to take O.
passing glance at the history of the great corpo-s
ration which excrts SO potent an influence oSet
the affairs Of men, a s.,..,ts ~
The protector Of tie Bark Of England was
one William Patterson, and the act of incorpo:
ration was signed by William III, in 1894. Tho
| subscription books were filled within two days
after they were openei and it commenced bu-
siness with capital Of fl,2000O: since which
time its circulation has reached the enormous
amount of thirty millions Of pounds ,sterling,
and its bullion has fuctuated betHsen sixteen
and twenty millions. On ntany occasions have
the financial measures Of the Crown been large
| ly aided by loans from this reservoir of wealth.
As Parliament allowed, its privileges have been
extended, and its charter frequently renewed. IL
Its managers consist of governor a deputy
governor, and twenty -four directors; and, with d
view Of securing its credit, d law was enacted
that no other banking establishment should ex-
list in England consisting of more than six per-
sons. During the last century the rates Of dis
count varied from four and half to six per cent:
they were subsequently equalized between four
and five per cent, but of late years they have
been as high as seven per cent? and it is q fact
worthy of note, that among the reasons assigns
ed for the recnt increase in the rate OF interests
| is this, thFt large amount Of Money had been
1 invested in spirits for expectation TO this coul
try after the first Of J uly, when the duties win
be thirty pgr cent, instead Of one Hundred, as
at tile present ume No bills Of the bank are
ever issued second time As TO the dividends
which it has declared, and the many bubbles
with which its history is connected, an accounbI
of them would fill whole volun,es. Intimatelgs
connected with the operations of the Bank Of
England are the transactions in the eonsols and
one remark on this subject may here be made.
It was in the year 1852 that the foundation was
laid of the three per cent conios, which We're
thus termed from the balance of annuites gran
ted by George having been consolidated in
one fund, with three per cent. stock; and
their present amount is G3600OO,O00 aaa8
In 1867, one hundred years ago, the edi6ce Of
the Bank Of Engard was q small structure,
" and almost invisible to the passers by; at the
J present time it occupies an area OF eight acres
} on the same site, and is an edifce of no archi-
tectRral beauty, with bat on window towards
the street, heing lighted from the roof Of the
enclosed area. And this reminds us of an act
count which we have just seen Of q visit fecent- +
ly made by an American to the bank, which,
: we subioin. After mentioning the fact Of bis !
obtaining a ticket Of admission from tho gover-
nor, he proceeds as follows: -.
81 was led, on presenting my card of adTnis-
sion, into private r5om, where, after delay Of
a messenger came and conducted me through
; the mighty and mysterious building. Down
we went into room, where the rotes of the
bank received the day before were now examine
{ cd, compared with their entries in the books
| and slowed away. It receives in the ordinary,
course of business, about G900,0O0, or $4,000
00D daily, i'll notes; these are put upin bundles
according to their denomination, boxed UP
with the date of their reception, and are Kept
ten years, and at the expiration of which peril
cd they are taken out and ground through the
mill, which saw running, and ground into pa,
per. If in the course of these ten years, any
. dispute in business, or law suits, should arise
concerning the payment of any note, the bank
a can produce the identical tfIl. To meet the de
mand for notes so constantly used up, the bank
c has its own paper makers, lis own printers its
8 own engravers at work under one roofp and 10
even makes some of the machinery by whcis
It its work is done. A complicated but beaatiful
operation is a register, extending from the print
r ing office 10 the bank ng office which inuks ey,
't cry sheetof paper which is struck off IRON the
II press, SO that the 3rinteIs cSnnot manufacture
$ single bank note which is not recorded in The
d bank. MA tA9
d "Ona,the same principal or exactness shaft u
: made to pass from one apartment to the otert
IS connecting clock in sixteen different business
e wings of the eetahiishment and regulating
them with such precision that the shols ofthen
d are always pointing to the same SECOND Of Time.
r, In the next room is inacsiiie exceedingly sf.
/, pie for detecting light gold coins. A row 6f
of them is Cropped one by upon spring scale;
if the piece Of gold was Of the atardafd weight
e the scales rose tua certain height. and the rai
= slid off upon the side OF the hos; II less thalf
,e standard, it arose little higher and the eoiu
le slid off on the .otl er side. asked the weight
r. Of What Was the average 1nmbeT, of light CONS
IA that came into their hands, and, strangely &
n nough he said it was qarstio..s he was not af
4 lowed toarswer. t efs,t8 @ss
a1he next room entered Was that III which
the notes are deposited, which are ready toissne
we have thirty-two millions ef pound sterIing
D in this room, PIC officer remarked to me; will
= you take some of itp told his# il would Nj
vastly agreeable to me, and he handsd me mil
:. hon, which received with many thanks to hia
V liberality but he insisted on my dcp5sitihg With
Ia him again as it would hardly be safe 10 carry
4 so much money into the street In the vault
!. beneath the door we're the director ard cMshe5
j counting the bagso of gold, which men WE'RE pits
;, Ichng doSnto chem eaN bag containing tlllhTi
sand pounds sterling, i!sss fom the inRl.p ~
t What are Omr Churches s.ssssa iaag 4 AZ
: NotSi9g exhibits the lecicrious influence upss
" on The religion orour country than tie mad ca-
( reer Of fetitical preachers Tile i1oIaiice Dtsa
o4ut says i#A plss Fss
, On hast Saturday, inone Of the teyiFsisipS III
this (Dehanee) county. a church trial sFaa hsia
ofa lady, whose only crime and clAaras Nas. shel
il aiding ard assisting in nakiEiasl AnseFisAnflng
l. lon which were fs aaaies D Rsellshan apA
= Breckenridge. TINS sa true statralept sud
d rihnes can bc gwen Tie awuuay fprse' ss.Iss
Is lister ofthat church eout Hefods licfods " S,rz
% fsows are ftsuiccts to declare against PoIafy
b The most'intollcisnit pofbefy we ever feais Ue
L. would he mild TO the rule of sgtli d ii3iui9fsFi
N We willchronic.e the roset ,tsse trial s. suszs
rs as the decision can he learned. 90 4 gassAnl
, al Il 4 s5fs Y