The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1883-04-12
THE BANK OF ENGLAND.
What a Yankee Correspondent Pound in
Conversation With the Chief
Accountant,

The first person that / met On enter
ing the Bank OF England was d venera-
bic porter in quaint uniform, which
dates back. l think, hundred years or
more; it left green and buff impress
sion on me, but / can not accurately
describe its details. The porter led me
TO room where the executive officer Of
the bank was to be found. The officer,
Mr.. Gray, is entitled 'chief account
ant" and his position corresponds very
much to that of cashier of one of our
banks. Mr.. Gray, who sat at his desk
surrounded by corps of busy clerks,
and who is q gentleman of the most
courteous and unassuming manners,
gave me cordial welcome, and under
his guidance l visited every department
of the bank, and had everything which
did not understand at a glance eX-
planned to me. The capital of the bank
is 14,50O,0 coo; its circulation in the
hands of the public about G25, 900;
its deposits, on no portion OF which IS
interest paid, average in these days
about G32, 900, 900. With its customers
it has two kinds Of account, deposit and
discount I was told that in order to
get discount at this bank it was absO-
iutcly necessary to have q deposit ac
count, but it can hardly bepossible that
banking institution with such an
enormous working capital, amount
ing to nearly $3.50, 100000, is ever
obliged to buy paper III the open market
in order to keep up loans. The bank
discounts no bill having over three
months TO run; the smallest city bill
which it discounts is G100; smallest
country bill $40. 1t circulatcs no
smaller note than G5, but this seems to
be the only limit to denominations; in
frame in the building is cancelled note
of the Bank OF England for q 9100, ,000,-
900 and, if [ remember rightly, the
bank poet Rogers had hanging III his
library q cancelled note of the same in
stitution for $50, 900.
I have heard that n note for G10,0G0
once had u singular history 1t was
paid out to one of, the directors OF the
bank, who soon after lost it under such
circumstances that he was satisfied, and
succeeded in satisfying the bank, that it
had fallen into his fireplace end been
DESTROYED. He was given new note,
fer which he returned q proper receipt
and guarantee. Many years after the
original note was presented for pay
ment; the bank endeayored to disoWn it,
but could not, for it was genuine and in
the bands of an innocent person, and
the bank had to pay it. rs history was
then looked into, and it was ascertained
that, instead Cf being burned, it had
been carried up the chimney by a draft,
and had found a safe lodgment in some
Granny in the fiue. Here it had re-
mained until alterations in the house
necessitated the removal oi the chimney;
then it was discovered by q workman,
who regarded it as legitimate find,
and who presented it for payment.
Right here may as we'll relate an
other story of the bank, Of which there
are many, both in print and as legends,
but of which ! viii let these two serve
as specimens. 4 sewer workman.
while polling .around under ground,
found that by raising q ilagstone he
could penetrate into the bullion-room'of
the bank Amazed at the discovery, he
pondered over il. and finally concluded
that lie would utilize it to his pecuaiary
benefit without stealing. He therefore
! wrote to the directors, asking what re-
ward he would receive If he should meet
them at any appointed hour OF the night
in the bullion-room, and thus reveal to
them a mode Of ingress Of which they
were entirely ignorant. They named a
a sum which would make him indie
pendent for lie, and to their over
whelming surprise he kept his promise
oy popping up through tho sewer, for
which lie received G10,0o0 or 50. This
is supposed to have happened long ago.
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