Strona 845 z 2651

In 1697, the bank was allowed to enlarge its capital stock, by an

ingraftment of £1,001,171:10s. Its whole capital stock,

therefore, amounted at this time to £2,201,171: 10s. This

ingraftment is said to have been for the support of public

credit. In 1696, tallies had been at forty, and fifty, and sixty,

per cent. discount, and bank notes at twenty per cent. {James

Postlethwaite's History of the Public Revenue, p.301.} During the

great re-coinage of the silver, which was going on at this time,

the bank had thought proper to discontinue the payment of its

notes, which necessarily occasioned their discredit.