In 1745, there was a run upon the bank, occasioned by the rebellion in Scotland, and supposed to be for the purpose of supplying the adherents of the Stuarts with gold. A public meeting was held in London and one thousand one hundred and forty merchants signed a declaration expressing their readiness to take the bank notes.

The 3 per cent. consols were established by means of the bank in 1752 and have ever since been a famous government stock. The word "consols" is a contraction for "consolidated." Outstanding government annuities were consolidated in the 3 per cents.

In 1758 occurred the first instance of a forgery of a bank note. The note was for £20, the smallest amount then in circulation. The forger was promptly convicted and executed.

In 1782, the total capital of the bank was increased to £11,642,400, or approximately $58,000,000. There was no further increase of capital until the year 1816, since which time it has been largely increased.

In 1794, the bank commenced issuing its famous £5 notes.

During various periods of financial depression, the government of England has rendered assistance to the bank by timely administrative action, enabling it to maintain its high reputation and meet all its obligations; and the bank on its side has made many advances to the government, besides managing the public debt and otherwise aiding in the operation of the government finances. It enjoys certain exclusive privileges of banking in England, and fixes the bank rate of discount at regular meetings or "courts" of its board of governors, which are referred to elsewhere in connection with the subject of Foreign Exchange.

The Bank of England building covers a whole block bounded on the south by the famous Threadneedle Street. Outside it presents the appearance of a blind outer wall of a great building without windows, and having here and there ornamental pillars and few entrances. The plan, as shown in our illustration, is a complex system of light-walls, offices, court yards, etc., the result of growth and necessity.

Among the curiosities in the bank library is a million pound bank note. Tradition says that there have been only four such notes issued. Samuel Rogers, the poet, had one framed and hung over his parlor mantelpiece.

Another curiosity in the bank library is a note for £25, which had slumbered unobserved for 111 years, and was then presented and paid. If compound interest had been payable by the bank, the owner could have claimed over £60,000.

About 50,000 notes of different values are paid into the bank every day. These are kept five years in the bank cellars and are then destroyed by burning. New notes are always given out in payment of bills and checks.

Plan of the Bank of England.