APPENDIX. 217 Appendix, N⚫III. FAR, from me, be the wish, of interrupting any one's business, of hurting any one's feelings, or of disparaging establishments, which may have done good, and may be made salutary. But, the best things; the most sanctified, and most valuable of all things, such as religion and liberty, are liable to the worst abuses of superstition, and licentiousness: Thus, are more than seven hundred Country Banks a prodigious abuse. I am aware, however, that among so great a number, there are many of solid capitals, and great respectability: We might infer as much, from the Evidence of Mr. Richardson, who speaks of a system of discounts, by the Eastern Country Banks, for the Western traders, which are of great amount, and real usefulness, to the commercial world; and from Mr. T. Thomson's Evidence, which shows, that there are Northern Country Banks, whose notes are taken, by the people, in preference to Bank notes, themselves. Yet, after fully investigating the whole subject, of the Bullion Committee's Enquiries, and Report, I am fully satisfied, that there is no real abuse, in the whole Banking system, and accustomed practice of Great Britain, (with those of Ireland I meddle not) but, in the Country Banks, of England, which S which appear to me, to be too many, too obscure, and too unsafe, for such a nation. Some years ago, when I had this weighty subject before me, the two following papers were communicated to me, from a respectable quarter, which lay open some of the management, and artifices, in so striking a view, that I thought it, for the public benefit, to publish them, in this supplementary Appendix. i. INSTRUCTIONS from a Banking House, in You are authorized by us to manage a Bank at under the firm of The business to be, an exchange of paper, for which you are to charge per cent. stamp and postage, and draw on the house of Bankers, London; and all bills so drawn, are to be signed in the name of only for the above firm. One guinea notes to be issued, and per cent. allowed to all those, who undertake to keep them out a month. Good bills may be discounted, and cash notes given for them, only at such times as you have a surplus of cash in the Bank. Also Also at all times you may discount London bills, giving in exchange for them, drafts on our house at 21 D.D.* sending such bills up to us per first post. You may also discount bills payable at giving your shop notes for the same, but this must be done with caution; and if you are not sufficiently acquainted with the responsibility of the persons bringing such bill, they must bring a person who will be accountable, or get the same indorsed by a respectable person residing on the spot. You must at all times keep the house in London in cash, avoiding as much as possible, throwing them into any advances. No person to have shop notes to issue, unless leaving cash or Bank notes for the same. You are not to advance any money on account, unless authorized by the house in London to do it. You are to get as many accounts opened as possibly you can from the Riders, giving them drafts on us for the same, and if any expences attend the same, you must charge it to the account of disbursements; also whatever expences attend going from to any place, on account of the house, to be charged. If, at any period, any merchant or tradesman wishes to alter this mode of doing business from the above plan laid down by us, you must acquaint the house in London, and have their approbation for the same. * Is not this usury? |