The private bankers are steadily decreasing in this country. This is seen from the following table: -

In the year 1878 four private bankers stopped payment, thus still reduciug their number.

This great decrease has been caused partly by amalgamation and partly by the banks becoming extinct. When * The recent amalgamation of banks with Messrs. Barclay & Co. will reduce the number to 20 and 68 respectively. a private bank becomes extinct its place is generally taken by a joint-stock bank. There seems to be a tendency to have a small number of large private banks which become larger, whilst the business of smaller banks gradually diminishes.

The capital at the disposal of the London private bankers was estimated in 1834 at £29,500,000, of which the sum of £3,000,000 belonged to the country bankers. Mr. Dun estimated in 1876 that the money lodged with the London private bankers amounts to £80,000,000 and with the country private bankers to £93,500,000.

The private bankers of the present day are men of known wealth and position, and this, combined with their intimate knowledge of banking, has been the cause of their great success.

Several of the large private banks in London occupy an eminent position in the commercial world.

In recent years the private bankers have taken a very wise step by publishing balance sheets. The first bank to do this was the firm of Messrs. Glyn, Mills, Currie & Co. This policy has proved eminently successful, because it has shown that the private banks have large capital and reserves in proportion to their liabilities.