faculty for acquiring and increasing knowledge. The exercise and improvement of this faculty is as much a duty as the improvement of any other talent with which we are entrusted. And from the claims of our common humanity, and from the relation we all sustain to the same Creator,* it becomes our duty also to aid others in their pursuit of knowledge. The cultivation of our intellectual faculties does not diminish, but increases and refines our physical comforts-augments our social pleasure, by imparting to each individual additional claims to regard-exalts our devotional feelings, by unlocking more of the wisdom and goodness manifested in the works of God-and while the amiable, though injurious, aberrations of the moral and religious feelings are controlled by the judgment, the adjudications of reason on moral and religious questions are aided and guided by an instructed and enlightened conscience. It is quite possible for all these advantages to be extended to every individual in the community.

It is peculiarly the duty and the interest of the rich to educate the poor; the morals of their children, and the comfort of their families, depend much on the religious education of their servants. Among an educated population, the rights of property-the effects of capital on the demand for labour, and the useful tendency of what are called luxuries-and the necessity for order and subordination in the state, will be better understood. In proportion as the mass of the population are instructed, will be the amount of national happiness and prosperity. Mighty is the monarch, great is the statesman, who can direct the united energies of a nation of cultivated minds. The education of the poor is a duty even more incumbent upon public companies than upon individuals. For it is to the inventions and improvements in science, often made by persons of the working class, that many of them owe their existence. Improvements in the application of steam have produced most of our present mining, and steamboat, and railway companies. Increased attention to statistics and the laws of mortality has multiplied our insurance companies. The general principle on which all our companies are founded-the power of association -is itself the offspring of modern science. Our public companies are triumphs of mind; they denote a high degree of civilization, and exhibit most strikingly the command of man

*Mal. ii. 10; Acts xvii. 26.

over the elements of nature, as well as over the beasts of the field, and his power in compelling the inert properties of matter to become the active ministers of his will.

Great is the debt of gratitude due by all our public companies to the cause of mental cultivation; and when these companies are computing the annual gains which from this source they have acquired, let them not forget that the Genius of Mental Cultivation, supported by Benevolence, Patriotism, and Religion, and attended by crowds of the uninstructed children of the indigent, stands at their door, and humbly asks payment of a portion of this debt.

Let them in part discharge this debt, by seeing that the children of their labourers, and the people of the district, are all supplied with the means of instruction. And afterwards, let them patronise those societies which have for their object the education of the children of the poor in other districts, and throughout the land. They should also, as far as it can be done with justice to others, give promotion to such of their servants as devote their leisure to the cultivation of their minds. The time is gone by when it was a reproach for a young man to be bookish, as he was supposed to abstract so much more time and attention from his official duties. It is now well known that the general cultivation of the intellectual powers renders them more effective in every operation in which they may be exercised. It is a great advantage to a public company to have educated servants.* Their superior knowledge is always useful-the mental discipline they have acquired improves their business habits--and, possessing within themselves a constant source of enjoyment, they are the less likely to indulge in those expensive pleasures which are the usual temptation to neglect and dishonesty.

"It seems likely that a movement will continue to be made in favour of universal education. I think it desirable that bank managers and branch managers should aid this movement in their respective localities, and should support generally, by their assistance and influence, the formation of literary and scientific institutions. This would afford an outlet for any surplus energy of character that might remain after the hours of business, and enable them to promote the public good, without taking part in political or religious discussions. They would acquire for themselves much pleasurable and profitable amusement, would add to the usefulness and respectability of their character in public estimation, and thus be enabled to increase the influence of their respective establishments."-A further Extract from the Letter quoted at page 372.

SECTION VIII.

TEN MINUTES' ADVICE ABOUT KEEPING A BANKER.

1. A BANKER is a man who has an open shop, with proper counters, clerks, and books, for receiving other people's money in order to keep it safe, and return it upon demand.

2. The building or shop in which this business is carried on, is usually called in London a "Banking-house," but in Scotland, and in the country parts of England, it is called a "Bank.” The word "bank" is also employed to denote the partnership or company who carry on the business of banking. Thus we say, the Bank of Scotland, the London and Westminster Bank, the Bank of Messrs. Coutts & Co.

3. When a company of this kind does not consist of more than six or eight partners, it is called a "Private Bank;" but when the company consists of several hundred partners, it is called in Scotland a "Public Bank," and in England a "Jointstock Bank."

4. A private bank is usually managed by one or more of the partners, and all the partners are styled Bankers. A public bank is managed by a principal officer, who is usually styled a Manager. In England a bank-manager is not commonly called a banker; but in Scotland all managers of banks, and managers of branch banks, are called bankers. So mind, when I use the work "banker," you may apply it to either a private banker or to a bank-manager, whichever you please, as my observations will be as applicable to one as to the other. A banker is a man who carries on the business of banking; and whether he carries it on upon his own account, or as the agent of a public company, it appears to me to make no difference as to his claims to be called a banker.

5. It is the business of all these banks to receive other people's money, and to return it upon demand. And when any person puts money into one of these banks, he is said to have opened an account with the bank; and when he has thus opened an account, and continues to put in and draw out money, he is said to have a current account, or, in London phraseology, "to keep a banker."

6. In Scotland almost every man has an account of some

sort with a bank. The rich man in trade has an account because of the facility of conducting his operations: the rich man out of trade has an account because he gets interest upon his lodgments, and he keeps his money in the bank until he has an opportunity of investing it elsewhere at a better rate of interest. The middle class of people have an account because of the convenience of it, and because they obtain the discount of their bills, and perhaps loans, on giving two sureties, which are called cash credits. The poorer classes lodge their small savings in the bank, because of the security, and because they get interest on the sums which are lodged.

7. But in London the practice of keeping an account with a bank is by no means so common as in Scotland. The London private banks are banks only for the rich. The bankers require that every person opening an account shall always have a sum to his credit; and if the sum thus kept is not what they deem sufficient, they will close the account. Hence the middle class of people in London have no banker at all, and the poorer class lodge their money in the savings banks, where they get interest, which they would not get from the London banker. It should also be stated, that besides keeping a sufficient balance, a party opening an account with a London banker is expected to give a certain sum every year to the clerks, This is called Christmas-money, and the object is merely to enable the banker to pay a less salary to his clerks, at the expense of his customers.

8. But within a few years, public or joint-stock banks have been established in London. These banks, or at least some of them, will allow you to open an account without promising to keep a large balance, or even any balance at all, provided you pay a small sum annually as a commission. This sum is fixed when you open the account, and it is about the same that you would be expected to give as Christmas-money to the clerks of a private bank. Hence people of moderate incomes, and those who can employ the whole of their capital in their business, are now able to keep a banker. These banks, too, give interest on deposits, whether the sums be large or small, as I shall hereafter explain.

9. The first public or joint-stock bank established in London was the London and Westminster Bank. The success of this bank has led to the formation of several others. You will observe,

that all banks which have branches conduct their business on the same terms at the branches as they do at the central office.

10. Since, then, the Scotch system of banking is established in London, why should not the keeping of a banker be as general in London as in Scotland? I have stated that, under the old system, those chiefly who were denied banking facilities were the middle class of people. Now, these people may be subdivided into two classes-those who are engaged in trade, and those who are not. I shall address myself, in the first place, to the former class.

11. Now, I ask you, why don't you keep a banker? You say you have been in business several years, and have never kept one. Of course, if no banker would take your account you could not do otherwise; but now there are bankers willing to take your account. But you say you can do without a banker. Of course you can. The question is, not whether by possibility you can do without a banker, but whether you cannot do better with one? But you reply, it would not be worth any banker's while to take your account. That is for his consideration, not for yours. The question for you to decide is, not whether your keeping a banker would be of use to him, but whether it would be of use to yourself. I shall point out to you some of the advantages.

12. In the first place, by keeping a banker, your money will be lodged in a place of security. You have now 507. or 1007., or perhaps sometimes 2007., that you keep in your own house; you take it up into your bedroom at night, and when you go out on Sunday you carry it in your pocket. Now you may lose this money out of your pocket-the till may be robbed by your servants-or your house may be broken upon by thieves-or your premises may take fire and the money may be burnt. But even should you escape LOSS, you cannot escape ANXIETY. When have a little more money than usual, you have fears and apprehensions lest some accident should occur. Now you will avoid all this trouble by keeping a banker.

you

13. The banker will not only take care of your money, but also of anything else you commit to his charge. You can get a small tin box with your name painted on it, and into this box you can put your will, the lease of your house, policies