The real usefulness of a bank has been carried farther in Scotland than in any other country, so much encouragement having been given to the poorer classes to place their small earnings upon deposit; sums as small as ten pounds having been for many years received by Scotch banks-a system which competition at last introduced into England. The Scotch bankers have from the beginning been able to afford greater facilities to the lower classes than the English bankers, as they have derived so much profit from the issue of their notes, whereas the London bankers do not enjoy this privilege.

The use of a bank consists in its keeping money constantly moving, driving it into every possible channel where it is required, and by this means stimulating production.

There can be no better instances than those of banks which have been established in parts of the country where industry was at a complete standstill for want of money, and which have been worked for some time at a dead loss, until the stimulus was given time to work its effect, when the return gradually came, and the bank received back its own with interest, and subsequently became a flourishing concern. This has taken place in Scotland, and has been cited in support of an argument in favour of the issue of small notes, before a committee of the House of Commons.

The use of a bank is made particularly apparent to persons travelling. Almost any bank will change the circular notes of another well-known and respectable bank - without any advice - provided all appears in order. Large mercantile houses have, up to the present time, carried on a system of letters of credit to other merchants in all parts of the world; but it is evident that such business will be better attended to by an institution organised for that purpose, among others; and it is quite evident that all such business is by degrees being absorbed by the banks. Merchants are not in the habit of placing a semiannual or even annual statement of their position before the public. Joint-stock banks, for their own sakes, are obliged to do this; and, although much may be concealed that would injure them, if brought to light, they can seldom if ever fail with such disastrous effect as a merchant. The facili-ties afforded to travellers in the present day by the complete network of banks over almost the whole world, signally illustrates not only the necessity of advancing banking as a science, but the importance of its universal extension as an essential wheel in the machinery by which the entire commercial system is kept moving.

The use of a bank has been increased beyond measure by the aid of the telegraph. Bills unprovided for-through the failure of one or other who should have made provision-may be retired in distant parts of the earth in a few hours, although on the verge of casting a cloud over the maker's credit. Banks in London, with their foreign branches, under a system of telegraphic signals, may be the means of staying a crisis; for many of these popular panics might have been avoided had the foolish terror of people not been aroused by rumours of expected failure, which in many cases have been brought about by the thoughtless rapidity with which people have demanded the return of money lent.

The use of a banker to his client is, that he will always willingly act as a referee as regards means and respectability should it be necessary.

Your banker will collect the money for any and all documents that may come into your hands, and place the proceeds to your account. You draw cheques upon him for any bills you wish to settle, and so he saves you the trouble of counting your money. He pays your subscription to your club, and the premiums for your life and fire policies, and undertakes the investment of your surplus funds. If a person wishes to obtain information of another person who keeps a banking account, he finds immediately that such is impossible from the banker, unless he keeps an account himself, which enables him to get the information through his own banker. It is a custom among London bankers, and no doubt will become universal in course of time, to give each other such information immediately, a system which is exceedingly useful, and has conferred inestimable benefits on the public.

A banker's pass-book affords a complete history of the expenditure for the year; and those who have not business habits will find this a great assistance in controlling their expenditure, at all events in the aggregate.

By keeping a banker one has a right to ask of him or his subordinates a variety of questions with regard to the best means of remitting money to distant places, and other matters, which could not otherwise be obtained without much trouble.

A bank is one of the great motive powers which stimulates production by assisting in circulating the accepted representative of wealth, money. The gold while it lies still in the bank is of no more use than the ore from which it is coined; it only becomes useful when it is circulated, and by such circulation assists production. Much gold lies always still in the vaults of the Bank of England. It may be thought that this fact upsets our argument; but if a certain amount of specie forms the pivot around which twice as much in paper circulates, it is more productive by the proportion than if it were in active circulation itself -leaving out of the calculation the loss caused by using so costly a material. Gold is the chosen representative of wealth; that commodity by which the value in exchange of everything else is measured, by reason of its being more suitable than any other substance, for more reasons than because it varies so little in cost of production, and, consequently, in value in exchange, and also presents the greatest worth in a more convenient form than any other product of the earth. This representative of wealth it is the object of banks to keep constantly moving, which is more and more productive just in proportion as it is kept in circulation without ceasing. As the axiom among shopkeepers is, small profits and quick returns, so for a bank to combine profit with safety it should keep whatever funds it may have for employment always on the move; never out beyond reach for too long periods at a time.