The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1868-02-04
From the Wilmington Journal.
The Bank Of England.
BY BISHOP ATKINSON.

Messrs. Editors Incessant occupation while
was in Europe prevented me from complying,
as often as / wished with the desire you ex-
pressed that should communicate to your paper
notices of objects that seemed likely to interest
your readers. But comparative leisure at pre-
sent will enable me to do something towards re-
deeming the promise | made you of furnishing |
your columns, occasionally, with articles which |
may crafty their curiosity and, possibly, provide
them certain measure Of instruction.
OF the many sights in London, the Band of
England is deservedly reckoned one of the chief !
The clearinghouse has its front on Threadneedle
street, in the immediate neighborhood of the
Royal Exchange, the mansion-house (the Lord
Mayors official rcsidence) the Offices Of the pri-
vate banks and joint-stock companies, and the
principal warehouses and counting-roons Of those
merchant-princes who regulate the commerce
and exchange of the world. 1t covers an i'm
mense area, and is occupied by more than thou
sand clerks and officers of different sorts, who,
with some policemen, guard it by day, while a
company of soldiers is detailed every evening to
guard it by night. The building itself is i'm
mense; the outer wall measures in front, or on
the South side 365 feet on the West side, 44O
feet, on the North side. 410 feet, and on the
East side, 245 feet, which embraces nearly the
whole of the old parish of ST. Christopher. The
area comprises Hilc OpcH CouTtSj Ihc VI
circular room, several large public Offices, COM
mittee and private apartments for the resi-
dence of officers and servants. The principal
| suite of rooms is On the ground floor, and the
| chief Offices being furnished with lantern-lights
| and domes, have no apartments over them; but
| beneath this floor and even below the surface OF
| the ground there is more building, and greater
number of rooms than above ground. The great
er part Of this extensive edi6ce is of stone, and
the better to avoid danger from fire, the newer
portions have been constructed with entirely in
| cumbustbe materials The vaults in which the
bullion, coin, bank notes. &c, are deposited, are
also indestructible by fire. 1t has also the rare
advantage in the city of London, of standing de-
tached from other buildings. The more public
Offices may be entered by any one, but to 60 into
the rooms where the notes are prepared and the
money and papers kept, requires an order from
Director The paper ON which the notes are
printed is made by the Bank itself, and it fur
nishes the chief security against forgery. E
would seem that limitation of it is impossible,
for it is not even attempted. No note is issued
of less value than five pounds, and from this
they advance to the value of thousand pounds.
Many of these last, was told, used mainly
| for remittances. We were shown one that was
issued for the of the Government during the
wars with Napoleon of the denomination OF
million of pounds 1t is altogether unique in its
history, having no fellows or successors. The
officers of the Bank, however, will put in your
hands bundle of 81 600 notes equal in value to
million. The notes are printed in the Bank,
and the signatures are part of the printed mat
ter Most of this work was done by boys, whom
though engaged in manufacturing the signs and
representatives of almost inconceivable wealth,
we found eating their bread and cheese, and
+ drinking their beer with as much unconcern as
if it were so much grocers' wrapping paper, for
; to them, indeed, it was more.
The par value of the stock is Ella 553 900,
and it sells for about 248 per cent, so that its
actual value is about $1S0,000, 900. On the 29th
of August last it had notes in circulation to the
amount of 923, ,693 $40; Public Deposits to the
r amount of 97.35O,218; other Deposits to the
amount of S1S,870, ,13O.
1t owned Government Debt Ell ,Ol5,1OO
Government Securities l2,olz,37Z
Other Securities including both the Is
sue and Banking Departments 20,9e1, -
. Notes 1881 ,535
r fCoin and Bullion 23,574,72t
|, Add to the liabilities the amount of the Capita
e Stock and then deduct the sum of the liabilities
e from the sum of the Assets and you will find tht
realized gains of the Bank to be upwards of 916,
Is OOO, 900, which causes the premium on its stock
, to be so great At the time have just referred
n to- its rate of Discount was two per cent only.
al One great part of it's business is the manage
ment of the National debt of England. That
sr last Summer, amounted to 9769, ,541 600. Ii
rs the Bank premises there are ten rooms entlrel
n devoted to this part of the Banks business an
it 410 clerks are constantly employed in keepIn
IN aud checking the books When the dividend
O. are paid the services of so additional clerks ar
st called into requisition. The keeping of account
involves the constant employment of about
n. 700 ledgers, transfer books, dividend book
st powers of Attorney cases, and others. The who
Sc of these are now and have been, religiously PR
ed served from the first establishment of the Ban
in 1854. The Stock-office Library contain
lis more than 100000 of these curious records
he the past The first book opened by the Dire
of tors of the Bank and others which includes Il
n names of original subscribers, and the amour
en- for which they have subscribed in every Cover
IN ment loan, are in this vast Library. The thi'
ID. volumes of these title-deeds are all in excelle
ed condition. and by reference to their contents ii
for title of every person who has ever been possess
of of government stock, can be readily traced.
er. wonderful collection of Autographs, kine
Queens, Emperors, Statesmen, Historians, Sol
~, few fortunate Poets, successful soldiers, gre
, Of LAWYERS, and men and women of high reno"
,ey and others of great notoriety are bound up
80 these volumes, but no public reference to thu
lis. Is permitted, save and accept by those who