New-York tribune., 1898-12-25

land but whether his successor still adheres
to this plan is unknown, and while some OF 'he
Vatican authorities declare that this is the case
there are others who allege that most OF the
money is now intrusted instead to Continental
institutions The general impression, how
ever. is that II is the Bank Of England when
remains the principal depository OF the Papai
funds Nor is it only European soverelghs
who make use OF the Bank OF England ior 'h's
purpose When for instance. old khedi'e
Ismail of Egypt became aware that the hou'
Of his deposition was drawing nigh he trans
ferrcd colossal sums OF money estimated al
several millions sterling, to the BANK Oh E"s
land convinced that ii was about the only
place where the property would be saie from
the greedy grasp Of his suzerain, the sultan
and from the fury Of the disappointed credit
ors Of Egypt. The Sultan boards the greater
portion Of his money In hiding places in Con-
stantinople, although, like every other reign
ing sovereign ne has large sums on deposit In
the Bank of England against a rainy day
The King and Queen Of Italy each OF them
has a big account at the Bank OF England
while during the three months that Emperor
Frederick rcigned over Germany he MADE use
OF the time to provide for the future or MS
widow by depositng n considerable amount OF
property in the Bank Of England for her pene-
fit The late Emperor Napoleon Ill, when ne
felt his throne tottering in the latter part OF
1869 and In the spring Of 1870. managed 10
transfer q considerable sum OF money 70 the
Rank Of England. and II is thanks to this pre-
caution alone that his consort, Empress Eu-
genie remains to-day one Of the wealthiest OF
royal widows. South American dctators such
as General Guzman Blanco, OF Venezuela. and
<oi1n
rule. and there Is probably no banking institu-
ton in the world that has on its books so
many customers OF royal rank and so many
ru,ers mast and present as the Old Lady OF
Threadneedle Street Curiously enough, almost
the only sovereign who does not bank there Is
Queen Victoria herself. who keeps her money
at Coutts's Bank.
The resources Of the Bank OF England are
practically unlimited as II may be said to have
behind II the financial backing Of the entire
British Empire, upon which. like that OF En-
neror Charles " the sun never sets. Six hun
dred millions Of dollars Is the average amount
Of coin and securities usually held by the bank.
which covers a space OF less than four acres,
and Il may be doubted II there is anywhere else
In the world q place where such an aggrega-
tion OF actual and potential wealth Is gathered
together within so small an area.
THE BANKS MILITARY GUARD.
Perhaps il is on this account that the Bank
OF England alone among kindred institutions
is provided by the Government with strong
military guard. the soldiers assigned to this
service being a company Of the same regiment
OF footguards that furnishes the senlres OF
buckingham Palace, ST. James's Palace and
Marlborough House The company on duty at
the bank Is under the command OF a subaltern,
and is relieved every twelve hours the So
called bank company being the only force OF
the regular army that has the right to march
through tho streets OF the city OF London
without obtaining previous permission from the
Lord Mayor and corporation OF the city. Bank
of England duty Ia by no means disliked by
officers and men Of the brigade OF guards. for
the yubaltern ON duty receives from the bank