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When a bank discounts to a merchant a real bill of exchange,

drawn by a real creditor upon a real debtor, and which, as soon

as it becomes due, is really paid by that debtor; it only

advances to him a part of the value which he would otherwise be

obliged to keep by him unemployed and in ready money, for

answering occasional demands. The payment of the bill, when it

becomes due, replaces to the bank the value of what it had

advanced, together with the interest. The coffers of the bank, so

far as its dealings are confined to such customers, resemble a

water-pond, from which, though a stream is continually running

out, yet another is continually running in, fully equal to that

which runs out; so that, without any further care or attention,

the pond keeps always equally, or very near equally full. Little

or no expense can ever be necessary for replenishing the coffers

of such a bank.