ABOLITION of small notes, report of com-
mittee of House of Commons respecting,
556-561.

Abstract statement of the (estimated)
position of sixteen firms who suspended
payment during the crisis (1857-1858),
306.

Abundance of money precedes, and follows,
Pressures, 214, 255.
Abuse of credit, 173.

Acceptance of bills, how written, 182; by

women, married or single, and by minors,
189; for the honour of drawer, or one of
the indorsers, 184.

Accommodation by bankers, effects of, on
trade, commerce, and agriculture, 147-
154.

Account day, 212.

Accounts, opening, 169; new, caution
requisite in taking, 169; transferred,
222; of persons residing at a distance
unadvisable, 170; large, should not be
taken by small bankers, 170; “nursing,”
179; reason for requiring customer to
remove, 178.

Accountant, chief, superior mental powers
requisite in, 359.

Accountant's department, qualifications for
clerks in, 358.

Act (1844), administration of a bank under,
226-253, sole advantage claimed for, 233;
Act of 1844 a theory just in practice;
leading enactments of; theory opposed
as early as 1841, by Mr. Gilbart, in
"Westminster Review," 226; objections
therein to proposed plan, on which the
Act was subsequently formed, viz., the
making the amount of the circulation
vary with the amount of gold in the
Bank of England, 227, 8; effects of, then

foretold, realised, 228; severe pressure
produced by, and consequent suspension
of, 229; report of Lords' committee on,
229; of House of Commons' committee,
230; "securing convertibility of the
note" by, and meaning of the phrase;
contrary opinions as to operation of,
231; previous to passing of, the bank
could rectify the exchanges, just as well
as since, 232; accusations against, 234;
"jerking" principle of, promotion of
speculation by, change in the banking
department of the Bank of England
produced by, 235; injurious effects of
bank rate of interest on market rate
owing to, 236; inexpansiveness of, and
difficulties interposed by, 237; drain of
the London circulation by, as that of the
country banks expands; pressure pro-
duced and aggravated by, 239, 240; pro-
visions of, tend to create "panic," whence
desire of "hoarding," 241, 2; Bank of
England deprived of power of granting
assistance by, 243; the very inflexibility
of, operates advantageously, through
making the commercial classes feel the
unsoundness of its principle, 243; "the
currency principle" on which founded, a
failure; substitution suggested of the
Scotch principle of "competing issues;"
course prudent bankers ought to pursue
in consequence of, 245-253; "locks" of
Bank of England, "shorn by;" exem-
plification of the effects of, as shown in
the case of the Bank of Liverpool, 248, 9;
anomaly of, 435.

Act of 1845 (8 & 9 Vict. c. 37), effects of,
on banking in Ireland, compared with
those of like enactments in Scotland and
England, 561-566.

Acts, Bank Charter, 22, 24, 25 (London
Magazine on, 1737, 28, 30), 30, 32, 36,
43, 51, 63, 64, 226, 428, 468, 469, and
Appendix.

"Addressed" bill, 381.
Administration of the banking department
of the Bank of England from 31st August
(1844) to 5th September (1845), 254–
265; from 6th September (1845) to 5th
September (1846), 265, 6; from 5th
September (1846) to 4th September
(1847), 266-9; from September (1847)
to September (1848), 269–277.
Advances by Bank of England to Govern-
ment, 26, 27, 32, 33, 46; prohibited to be
made without sanction of Parliament,
41; to bankers of London, Westminster,
and Southwark, 35; on Government
stock, on mortgage, to East India
Company, 46; during panics, 50, upon
the security of goods, deposits, pledges,
bills of lading, warrants, &c., 51.
Avdances by banks, 148; specific on con-
vertible or inconvertible sccurities, 174-
6; losses of on "dead securities," to
speculative men, to directors, 175, 330,
333; of money by bankers generally, in
what way so ever made, are in fact
loans, 135.

Advice, ten minutes', about keeping a
banker, 593.

Agent, London, of country bankers, mode
of payment of, 73.

Agio, or premium, in Holland, 9.

Amount of gold required to be sent abroad
regulates the exchanges, 106.
Annual expenditure, authentic record of,
by means of pass-book, 152; meetings
relative to, 325.

Annuities, government, purchase of, Act

27 & 28 Vict. c. 43, note, 143; passing
purchase of through bankers' books, 421.
Approaching failure of bankers' customers,
signs of, 178.

Arrangement of office in banks, 345–349.
"Articles" defined, 381.

Athens, banking at, 3.

"At sight"- —a vista, à vue, 197.
"At usance —a uso or ad uso, 197.

"BACKADATION," explanation of term, 213.
Balance-sheet, 325.

Balance, periodical, daily, weekly, half-

yearly, 401-5; "upon the balance,"

369.
Balancing, 378.

Banco dei poveri, 137.

Bank, origin of word, v. note, 6; what it
is and what it denotes, 593; a noun of
multitude, application of definite and
indefinite article, gender, 155, 7; site to
be selected for, 345.

Bank note issue, increase of, reasons for,
436-438,

Bank notes, to be a legal tender, except
at the bank, and branch banks, 66; at
from 15 to 20 per cent. discount (1679),
23; taking of for less than their value
to be a misdemeanour, 41, and notes, 41.
Bank post bills, first issue of and cause
thereof, 30, 31; unstamped, 54.
Bank of England, history, establishment,
and management of, 21-71; 428-438;
administration of the banking depart-
ment of, 254-276; capital, 22, 4, 5, 7;
30, 2; 42; 256, 432, 436; rest, 256;
deposits, 257; investments, 259; reserve,
261; run upon occasioned by rebellion
in Scotland (1745), 30; stolen notes,
payment of by, compulsory, 31; first in-
stance of forgery of notes of (1758), 31;
allowance to from Government, on ac-
count of the management of the public
debt, 32, 38, 433; suspension of cash
payments by (1797), 34; Restriction Act
(37 Geo. III. c. 45), 35; loss by, of
300,000l. by fraud, 37; scarcity of silver,
coinage of dollars, therefore, by, and of
tokens for three shillings, and for one
and sixpence, 37, 8; reduction of clerks
by, and liberal conduct of, 46; branches
of, establishment of, 50, 83, 433, 4; and
opposition thereto by country bankers,
52-5; loss sustained by (1831) from
amount of silver coin melted, 55; Com-
mittee of Secrecy (1832), relative to
renewal of charter, and its Report,
55, 6, 7; years of great increase in pro-
fits of, and the cause, 57, 8, 9; years of
diminution of profits, and the cause, 59;
profits whence derived, 60, 432, 3;
directors of, their qualifications, and
election, 70, 1; laws of currency with
reference to, 438-446; ultimate object
of Act of 1844, 441; evils anticipated
should it become the one only bank of

issue, 441-446; management of the
Government unfunded debt, of the Indian
debt, and of the funded debt of the
Metropolitan Board of Works, under-
taken by, 435, and note; additional faci-
lities to the recipients of dividends,
granted by, 435, 6; occasions and reasons
for the increase of note issue by, 436-438;
operations of banking department of,
since its separation from the issuing
department, 254–277, 432-438; principal
Acts of importance condoning (1694),
22, 3; (1713), 25; (1764), 32; (1800),
36; (1833), 61–70; (1844), 226, 428–431;
(1845), 492, 550, 562-566; (1857 and
1858), 468, 9; v. also Appendix.
Bank of Ireland, established 1782, history
of, 528-532; principal Act for the regu-
lation of, as well as of all Irish banks,
and its leading recitals and provisions
(8 & 9 Vict. c. 37, passed 1845), 523, 4;
the Government bank, 525; authorised
issue of, differences and similarities of
law between, and Banks of England and
Scotland, 525; banks other than, 525, 6;
constitution and government of, resem-
bling those of Bank of England, 527, 29.
Bank of Ireland, Royal, 546.

Bank of Scotland, 492.

Banks, Scotland, regulations of the issues
of (Act 8 and 9 Vict. c. 38, 1845), 492;
are all joint-stock, 493; have numerous
partners, 490, and branches, 496; have
large paid up capitals, 494; head offices
chiefly in Edinburgh and the large
cities, 495; uniform character of the
business of, much competition between,
but no under-bidding, 495; current
accounts of, no rediscounting by, 496, 7;
system of exchanges of 497, 9; un-
bounded popular confidence in, 500;
cash credits by, 506, 510; deposits in,
511-516; transactions settled by notes,
large and small, not by cheques, 501; v.
also 129-131; rules for the clearing
exchanges of, 520, 2.

Banks, origin of, 1-22; private, public,

or joint-stock, 146; business, disposable
means, expenses, profits of, 146; general
administration of, 160-180; administra-
tion of, with regard to bills of exchange,
180-200, to employment of surplus
funds, 201-212, to seasons of pressure,

213-225, to the Act of 1844, 226-253;
branches of, 82, 5, 320-324; with
branches, runs on, 202; administra-
tion of the office of, 345-374; book-
keeping of, 375-425; London private,
446; London joint-stock, 462; country
joint-stock and private, 464-475; Scotch,
489-522; Irish, 523-569.

Banks, rumours about, when rife, 222.
Banker, defined, 145; formerly gold-
smiths, 17; "new-fashioned," 18, 19;
qualifications for, duties of, 160-179;
referees for respectability, 151; channels
for obtaining information, 153; city and
west end, 169, 448; small, should not
take large accounts, 170.

Bankers and banks of ancient nations,
1-6.

Banking institutions, Irish, consist of three
classes, 532; regulations for exchanges,
566-569.

Banking capital, created both by banks
of deposit and banks of circulation, but
by different means, resulting in similar
effects, 87-92.

Banking holidays, 363: arrangement of,
in Bank of England, 364; law of,
as affecting bills or notes, 195; v. also
Appendix.

Bankrupt, origin and derivation of the
word, 6, and note.

Bankruptcy of accepter, drawer, or in-
dorsers of a bill, 190; voluntary state-
ment in court of, unavailing as a plea,
449, 451, and note.

"Bearing" operations in America (1857),
consequent run for deposits in specie on
the New York banks, and failure of
150 American banks, 280.
Belfast, banks of, 546.
Benefit clubs, 42.

Bill department of a bank, 387-390.
Bills of Exchange, admirably adapted for
the purposes of bankers, nature and
origin of, 109; advantages of, 112;
classes of, 115; short versus long, 116;
long versus short, 117; noting, 118;
protesting, 119; charges for noting,
120; rate of discount for, 122-127;
effects of discounting of, 128, 9; versus
cash credits, 133; defined, 181; form of,
182 inland or foreign, sets of, 183;
payment of, 185, 6; how made, 381;

administration of a bank with regard to
proceedings on, 180-196; Mr. Samuel
Gurney's opinion on, as securities, 207;
forgery of, 172; lost, stolen, or destroyed,
190-192; presentation of in reasonable
time, 193; payment of, on demand, 193;
giving notice of dishonour, 194, 6; re-
discounting, 173; London bankers never
reissue any, 381; stamp duties on, 186, 9;
law of, with respect to women and
minors, 189.

Bills of Exchange due on public holidays,

616.

Bills of Exchange, in French, German,
Italian, Dutch, Spanish, Portuguese,
Swedish, Danish, 198, 9; the words
denoting the "amount" and the "time"
in the foregoing languages, 197.
"Black Friday," or Overend Friday, 287.
Boards, or other co-operative bodies,
Taylor's Statesman upon, 316.

Bonds, as securities, East Indian, Corpora-
tion, 206.

Book-keeping in banks, 375-425; im-
portance of good, 334; terms specially
used in connexion with, 381.
Borough Bank, Liverpool, failure of, and
ruinous career of, ending in total loss of
its capital, 300.

Borrowing by English monarchs, 17, 18.
Branch banks, establishment of, the effect
of the formation of joint-stock banks,
82; compared with independent private
banks, 82, 4, with independent joint-
stock banks, 84, 6; those of the Bank
of England, 50, 86, 433, 4; of the Irish
banks, 533, 546; of the Scotch banks, 496.
Brewster, Sir Francis, on trade and navi-
gation, and on loan banks (1695),
137.
British Linen Company, exceptions as to
returns to Stamp Office by, 492.
Brokers (Bill and Stock), 209; com-
parison by Mr. Ricardo between the
interest on money invested in the funds
and that employed with, note, 209;
divided into two classes-"jobbers
operations of, 211, 213.

Bubble, South Sea, 26.

Bank of England (1824), 45; low
amount of in Bank of England (1825),
50; lower (1857), 282; lowest (1866),
291; Mint price of, 44; modification in
the assay of, 435; no appreciable dif-
ference between the Bank and Mint
assay, 435.

Burnet, Bishop, upon the establishment of
the Bank of England, 21.
Business, habits of, 370.

CALCULATIONS, banking, 419-425.
Calculations of the number of days that a
bank note of each denomination remained
in circulation (1792) (1818), 33, 43;
how to ascertain which denomination of
notes remains longest in circulation.
California, influence of importations of gold
from, 272.

Calls and subscriptions of Bank of
England, 22, 24, 25, 27, 30, 35, 42.
'Calling over," in banks, 378.
"Cancelling," "retiring," 381.
Capital, of Bank of England, 256, 432, 47;
three ways of raising a banking, or
borrowing, 86.

Cash, definition of, 381; "articles," book,
383.

Cash credit banks, 129-133.

Cash credits in Scotland, 506, et seq.
Cash payments, suspension of, at Bank of
England, 34,

Cashier's department, high standard of
excellencies necessary for clerks in, 358.
"Casting up," 378, 409.

Chamber of St. George, or bank of
Genoa, 8.

Chamberlain, Dr. Hugh, projector of Bank
of England, 21.

Charity, or loan banks, 6, 134, 8.
Charles I. and the seizure of merchants'

money in the Mint by, 17.
Charters, Bank of England, 22, 24, 25,
27, 30, 35, 42, 256, 432; Ireland, 528;
Scotland, 491, 2.

Checks against excessive issue of notes,
99, et seq.

Cheques or drafts customary with the
bankers of ancient Rome, 5.

Cheques, form of, 186; use and advantage
of, 152; forgery of, alteration of, 172;
cross-firing, exchanging, 178; duty on,
186-189; presentation of, in reasonable

time, 193; payment of, 194; not usual
with customers in Scotland to draw for
individual payments, 495.
Chief accountant, mental powers requisite
for, 359.

Child, Sir Josiah, the "new-fashioned"
bankers attacked by, 19; on interest,
124.

"Circular notes," 448.

66

Circulation," enactment of the meaning
of the, as respects Scotland and Ireland,
566; v. also note.

"Circulation," more extended meaning of
the word; v. note, 440.
Circulation of Bank of England. higher in
the months in which the dividends are
paid than in the subsequent months,
439; ebbs and flows four times in the
year; affected by the purchases and sales
of Government securities, 439; lowest in
December; uniform and permanent
course of the yearly fluctuations of, 440 ;
exportations and importations of bullion,
productive of variations in, 441.
Circulation of country banks, general
law of, makes one circuit in the year,
lowest point of, in August; highest in
April, laws of, derived from the state of
trade in the districts in which the banks
are situated; laws of, uniform in agri-
cultural districts; laws of, common
to joint-stock and to private banks, 476,
Circulation, banks of, 98, 108; country,
447-483. Fee Currency, &c.
"Circulation, The bank," so termed, 31.
City bankers, 169, 448.

Clearing House, what originally; when
joint-stock banks admitted to; when
Bank of England, 452; system now
pursued at, 452-455; hours when busi-
ness commences at; ordinary clearing;
country clearing; neither notes nor cash
used, 452; when balances are struck,
and the house "tries;" what difference
over or short, allowed to stand over on
"trying;" under whose control; by whom
managed; country clearing at, when and
by whom established; economy of some
five millions of gold effected by the
country clearing; statistical returns of,
to whom due; those returns would be
more complete, were the amount of bills
and of drafts shown separately, 453;

excellent remarks of the Echo newspaper
thereon, 453-455; settlement at, by
transfer from one banker's account to
another at the Bank of England; per-
fection of the system pursued at, shown
by one crucial instance when thirty
millions were passed through, and the
house "tried " right, 455; number of
"sittings" in, and average attendance of
clerks at, v. note, 455; "memorandums"
or tickets employed at, to represent
country notes, and form of the same,
456; Stock Exchange operations at,
457, 8; "crossing" cheques; no pay-
ments made by clearing bankers to each
other, except through, 458; marvellous
effects, economic and other, resulting
from the machinery of, shown by a
letter addressed (5th May, 1870) by Sir
John Lubbock to the leading papers,
459; forms of cheques for settlement at,
459, 460; clearing balance sheet at, 461.
Clearing-book, mode of entry in; "clear-
ing out," "clearing in "-455; way to
discover whether banker's clearing-
book, or the Clearing House be in
error; books, against which the clearing-
book and the "clearing-in" book must
mark, 456.

Clearing, in Ireland, 566-569; in Scotland,
520-522.

Clerk, chief, discipline of office entrusted to,
360; importance of position, qualifica-
tions necessary for, principal duties of,
335, 360; performance of banker's duties
by, 374; usually acts as manager in
branch banks, 374.

Clerks, selection and appointment of, 349;
distribution of duties, 351; salaries,
352; securities from, and on behalf of
356, 7; promotion and training of, in
cashier's department, 357-375; in ac-
countant's department, 358; rules o
discipline for, 360; punctuality of at-
tendance, 361; absences, health of, 362;
holidays, 363; training for higher
offices, 366, et seq.; supervision over,
360, 374, 5.

Clerks, reduction of, in Bank of England,
46.

Coinage, 2, 9, 10, 17, 37, 42, 45, 435.
Commerce, productive capital of, aug-
mented through advances made by