1. Interest on money lodged.-The rates to be fixed, from time to time, at meetings of the Banks to be held in Edinburgh.

Note. - No interest to be paid on other than regular operative accounts, unless the money has been lodged a month. Savings Banks and Friendly Societies may, according to the discretion of each Bank, be allowed 1/2 per cent. more> when the ordinary rate is not above 2 1/2 per Cent.

2. Interest on advances on current accounts. - The rates to be fixed, from time to time, at meetings of the Banks to be held in Edinburgh; but the charge on overdrafts on cash or deposit accounts may be limited to the cash account rate in special cases in which this is sanctioned by the bank in consideration of security being held or otherwise.

3. Discount and commission on bills. - The rates of discount to be fixed, from time to time, at meetings of the Banks to be held in Edinburgh.

The following rates of commission to be charged on Bills other than local, in addition to the discount:-

On Bills payable in Scotland, 1s. 3d. per cent. Charge on any one Bill above £600, discretionary, but not less than 7s. 6d.

On Bills payable in London, no commission.

On Bills payable in Liverpool and Manchester, 2s. per cent.

On Bills payable elsewhere in England, or in Ireland, 3s. per cent.

Note. - Days of grace to be charged.

Exempt from charge. - 1. Bank of England Post Bills. 2. Bills on London not having more than four days to run, inclusive of days of grace.

On Bills payable on the Continent of Europe at "Exchange as per endorsement." Discounted Bills - 10s. per cent. in lieu of discount. Bills lodged 5s. per cent., in addition to charges paid out by Bank.

Charges for negotiating documents payable on demand. -On cheques and drafts on Bankers in Scotland, payable in towns at a distance exceeding 15 miles by the ordinary route. For each £25, or part of £25, up to £100, 6d.; for each additional £25, or part of £25, up to £900, 3d.; for each additional £50, or part of £50, 3d.; maximum charge, 15 s.

On all other cash documents payable in towns in Scotland at a distance exceeding 15 miles by the ordinary route.-2s. 6d. per cent. commission up to £400; minimum charge, 6d.; On each additional £50, or part of £50,6d,; maximum charge, 20s.

4. Charges for negotiating documents payable on demand. - On cheques and drafts on bankers and on cash documents payable in town in Scotland at a distance not exceeding 15 miles by the ordinary route. For sums of £50, and under, 6d.; for sums above £50, and not above £100, 1s.; for each additional £100, or part of £100, up to £900, 6d.; for each additional £100, or part of £100, 3d.; maximum charge, 10s.

Exempt from charge. - Cheques drawn by the Bank's customers on any other office of the bank, when presented by themselves in person, or by their travellers, clerks, servants, or members of their families, but not by local agents or others; also cheques on the Free Church Sustenta-tion Fund, issued in favour of Free Church Clergymen.

On documents payable in London, no commission.

On documents payable in Liverpool or Manchester, 2s. per cent. Minimum charge, 6d.

On documents payable elsewhere in England, or in Ireland, 3s. 6d. per cent. Minimum charge, 6d.

Note. - Cheques on English Provincial Banks, bearing a printed reference to their London agents, may, if specially desired by endorser, be cashed free of charge, and negotiated through the London County Clearing House, in place of being sent direct for presentation. This can only be done, however, on the endorser granting a letter of indemnity against risk of loss through such negotiation.

5. Charges for granting drafts and making Transfers by advice. - On the bank's correspondents in London. Drafts payable on demand: - For sums up to £600, 2s. per cent.; maximum charge, 6s.; minimum charge, 6d.

For sums above £600, 1s. per cent.

The stamp to be charged in addition, and each draft or transfer to be charged for separately.

Drafts payable at "10 days after date" to be charged the stamp only. When at a shorter currency, or at a currency to cover the expense of the stamp, the difference to be reckoned at the deposit receipt rate.

Transfers by advice to be made free, if payment be postponed 13 days.

Drafts by remittance of Government Revenue to be granted at 11 days' date, free of stamp duty.

On the bank's correspondents in Liverpool and Manchester. - Drafts payable on demand, 2s. per cent., the purchaser paying the stamp; minimum charge 6d. Drafts at a currency - the same as similar drafts on London. On the bank's correspondents elsewhere in England and in Ireland, 3s. per cent. commission; the purchaser paying the stamp; minimum charge, 6d.

On the bank's head office, branches, or correspondents in Scotland, when the distance exceeds 15 miles by the ordinary route. For sums of £5 and under, 3d.; above £5 and under £50, 6d.; above £50, and not above £100, 1s.; for each additional £100, or part of £100, up to £1,400, 6d.; for each additional £100, or part of £100, 3d.; maximum charge 15s; purchaser paying the stamp.

On the bank's head office, branches, or correspondents in Scotland, when the distance does not exceed 15 miles by the ordinary route. Same rate of charge up to £600; for each additional £100, or part of £100, 3d.; maximum charge 7s. 6d; purchaser paying the stamp.

Note. - Drafts for remittance of the proceeds of bills payable in Scotland, discounted to English customers, to be subject to the full charge.

Exempt from charge. - 1. Drafts on the branches purchased by collectors of revenue, as such, and remittances for religious and charitable purposes. On these the stamp alone to be charged. 2. Transfers of sums paid in by customers personally, or by their travellers, clerks, servants, or members of their families (but not by local agents or others), for their credit at another office of the Bank; the stamp to be charged when a draft is given.

6. Other charges. - On retiring Bills in London, 2s. 6d, per cent. with interest due. The following modified charges may be made, at the option of each bank, in the case of customers having large transactions, viz.:-for the first £50,000 in any one year 2s. 6d. per cent.; for the second £50,000 in any one year 1s. 6d. per cent.; for the excess beyond £100,000 in any one year 1s. per cent.; chargeable at the end of the year.

On retiring Bills in Scotland: on drafts on demand against credits with London correspondents; on purchases of government or other stocks, in London; 3s. per-cent. with interest due.

On Bills payable in England or Ireland recalled before maturity, 2s. 6d. per cent. Bills recalled for non-acceptance only, discretionary.

On discounted Bills or other documents, returned dishonoured, 5s. per-cent. with interest due.

On acceptances by the Bank, or their London correspondents, of foreign bills, payable in London, if not exceeding three months in currency, 5s. per cent. with interest due, if secured by a lodgement of the amount in deposit receipt; 10s. per cent with interest due, if on other security.

On acceptances by the bank, or their London correspondents, of foreign bills, payable in London, if exceeding three months in currency, 5s. per cent. with interest due, if secured by a lodgement of the amount in deposit receipt; 15s. per cent. with interest due, if on other security.

On Bills or other documents lodged for collection, if paid, same commission as on similar documents discounted; if dishonoured, half as much as on similar discounted documents dishonoured.

On pay, dividends; or annuities drawn by London correspondents, except for regular customers, 2s. 6d. per cent.; minimum, 1s.; maximum, 5s.

On powers of Attorney taken out; and wills or deaths proved for transfer of stock, etc., discretionary, according to trouble, but not less than 2s. 6d. each.

Note. - Bills and other documents not having more than five days to run to be cashed by the banks with each other without charge. The usual discount to be charged for the additional days on bills, of longer currency.

In all matters of charges, Berwick-on-Tweed to be treated as a Scotch town.

Questions as to the true meaning of any part of the scale shall be decided at meetings of the banks to be held in Edinburgh.

The earliest bank in North Britain was the Bank of Scotland, which was incorporated by charter from the Scots parliament in 1695, one year after the establishment of the Bank of England, which received its charter of incorporation on July 27th, 1694. The original capital of the Bank of Scotland was £100,000, which has been increased until it is now £1,000,000. This institution continued to be the only bank until the year 1727, when the Royal Bank of Scotland was established, to be followed in 1746 by another institution, called the British Linen Company.