Strona 833 z 2651

The estates of the proprietors of this bank were worth several

millions, and, by their subscription to the original bond or

contract of the bank, were really pledged for answering all its

engagements. By means of the great credit which so great a pledge

necessarily gave it, it was, notwithstanding its too liberal

conduct, enabled to carry on business for more than two years.

When it was obliged to stop, it had in the circulation about two

hundred thousand pounds in bank notes. In order to support the

circulation of those notes, which were continually returning upon

it as fast as they were issued, it had been constantly in the

practice of drawing bills of exchange upon London, of which the

number and value were continually increasing, and, when it stopt,

amounted to upwards of six hundred thousand pounds. This bank,

therefore, had, in little more than the course of two years,

advanced to different people upwards of eight hundred thousand

pounds at five per cent.