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It has continued to have an undivided capital of the same kind

ever since. In 1746, the bank had, upon different occasions,

advanced to the public £11,686,800, and its divided capital had

been raised by different calls and subscriptions to £ 10,780,000.

The state of those two sums has continued to be the same ever

since. In pursuance of the 4th of George III. c.25, the bank

agreed to pay to government for the renewal of its charter

£110,000, without interest or re-payment. This sum, therefore did

not increase either of those two other sums.

The dividend of the bank has varied according to the variations

in the rate of the interest which it has, at different times,

received for the money it had advanced to the public, as well as

according to other circumstances. This rate of interest has

gradually been reduced from eight to three per cent. For some

years past, the bank dividend has been at five and a half per

cent.