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I have heard it asserted, that the trade of the city of Glasgow

doubled in about fifteen years after the first erection of the

banks there; and that the trade of Scotland has more than

quadrupled since the first erection of the two public banks at

Edinburgh; of which the one, called the Bank of Scotland, was

established by act of parliament in 1695, and the other, called

the Royal Bank, by royal charter in 1727. Whether the trade,

either of Scotland in general, or of the city of Glasgow in

particular, has really increased in so great a proportion, during

so short a period, I do not pretend to know. If either of them

has increased in this proportion, it seems to be an effect too

great to be accounted for by the sole operation of this cause.

That the trade and industry of Scotland, however, have increased

very considerably during this period, and that the banks have

contributed a good deal to this increase, cannot be doubted.