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The Scotch banks, in consequence of an excess of the same kind,

were all obliged to employ constantly agents at London to collect

money for them, at an expense which was seldom below one and a

half or two per cent. This money was sent down by the waggon, and

insured by the carriers at an additional expense of three

quarters per cent. or fifteen shillings on the hundred pounds.

Those agents were not always able to replenish the coffers of

their employers so fast as they were emptied. In this case, the

resource of the banks was, to draw upon their correspondents in

London bills of exchange, to the extent of the sum which they

wanted.