The news and herald. (Winnsboro, S.C.) 1877-1900, 1883-03-27
A Bank OF England Story.

The hrst person met on entering tn
Bank Of England was venerable porte
IN quaint uniforrn, which dates back
Think hundred years or more; 1t left
green.and.buf impression on mo, but
The porter led me to room where tn
executive officer Of the bank was to be
found This officer, Mr. Gray, is entitled
'Chief Accountant, and his position cor
RESPOND very much to that of cashier O
one OF our banks. Mr.. Gray, who sat a
his desk surrounded by corps Of bus,
clerks, and who is a gentleman Of th'
most courteous and unassuming manners
gave me cordial welcome, and under hi
guidance l visited every department O
she eank and had everything which die
not understand explained to me. The
capital OF the bank ls fourteen and one
half millions sterling; Its circulation IN the
hands of the public about twenty. hve mil.
lions sterling; It's deposits, on no portion
OF which Is interest paid, average in these
days about thirty-two millions sterling.
With It's customers 1t has two kinds OF
account, deposit and discount. | was
told that in order to get a discount al this
bank it was absolutely necessary to have
a deposit account, but 1t can hardly be
possible that a banking institution with
such an enormous working capital, amount.
ing TO nearly 1920, 900. 600, is ever obliged
to buy paper in the open market Ill order
to keep up loans. The bank discounts no
blll having over three months to run; the
smallest city bill which 1t discounts is one
hundred pounds; smallest country bill,
twenty pounds. 1t CIrcuIatcs no smaller
note than five pounds, but this seems to
be the only limit to denominations; IN a
frame IN the building is a cancelled note
of the Bank of England tor million
pounds sterling, and, if | remember
rightly, tho banker poet Rogers had hang
ing in his library cancelled note of the
same institution for ESQ, 600.
l haYe heard that a note tor GlO, 900
once had singular history. 1t was paid
out to one Of the directors of the bank
who soon after lost 1t under such clrcun,..
stances that he was satisfied, and sue
eeeded in satisfying the bank; that 1t had
fallen into the fireplace and been de-
stroyed. lie was given now note, for
WHICH he returned proper receipt and
guarantee. Many years after the original
note was presented for payment; the bank
endeavored u disown it, but could not,
Tor 1t was genuine and III tho hands OF an
innocent person, and the bank had to pay
1t. 1t was ascertained that, instead of
bong burned, it had been carried up tho
chimney by draught, and had found q
safe lodgment IN sone Granny in tho lluc.
Here it had remained until alterations in
The houso ncccssiiated i''e removal Of the
olhmney; then 1t was discovered by g
workman, who regarded it as Legitimate
find, and who presented it for payment.
Right here | may as well relate another
story of tho bank, Ut which there arc
many, both IN print and as legends, but of
which | will let these two servo "a sprci-
mens. A sewer workman, while poking
around under ground, found that by rails
ing tlaGstonc he could penetrate into the
bullion room OF the bank. Amazed at
The discovery, he pondercd over it and
finally concluded that he would utilize it
to his pecuniary benefit without stealing.
he therefore wrote to the directors asking
what reward he would receive If he should
meet them AT any appointed hour or the
night in the bullion room and thus reveal
to them mode of lngress Of which they
were entirely Ignorant. Tney named a
sum which would mako him independent
for life, and 10 their overwhelming sur
prise he kept his promise by popping up
through the sewer, for which he received
ten thousand pounds or so. This is sup.
posed to have happened long ago.