are paid to the proprietors, from the profits of the institution. It is transferable like government stock, and its value fluctuates from the same causes, as well as from the supposed success of the company.

The profits of the bank chiefly arise from discounting bills, keeping cash for others, issuing notes, dealing in bullion, and making temporary advances to the state. It also acts as banker and ageut to government, in whatever relates to the public funds, for which it receives 450l. per million; but for the contributions on new loans, the bank is paid 8057. 15s. 10d. per million. The manner of keeping cash at the bank, and the terms for discounting bills, are the same as at a private bankers, except that no cash account is begun here with less than 500l. nor is any discount account opened without the approbation of the court of directors. They discount no bill of less than 1007. or that has more than 65 days to run; and each bill must be approved by the committee, who allow or reject it without assigning any cause for so doing. The bank issues no paper without an equivalent, either in cash, bullion, approved bills, or government securities. Its notes are made payable to the bearer on demand, and were paid at sight, until the year 1797, when, on account of the state of public affairs, cash payments were suspended, by order of the privy council. This restriction, except in certain cases, has since been renewed by Parliament; and, though bank notes have not been made an absolutely legal tender, they bar a civil action.

This corporation is not permitted by its charter to deal in any kind of merchandize, except gold and silver bullion and foreign coins; but it enjoys exclusive privileges for banking and issuing notes. The business of the bank is divided into two departments: the one under the chief cashier, and the other under the general accountant. The chief cashier transacts all the receipts and payments of money, and issues the bank notes. The general accountant posts these notes as they are issued and paid off by the cashier; he also keeps the accounts of the public funds, and manages the other concerns relating to government and the national debt. The chief management of the bank is under a governor, deputy governor, aud 24 directors, who are all annually chosen by the proprietors. Four ge

neral courts are held every year, and others may be convened at the request of nine or more of the proprietors. The qualification for a governor, is, to be possessed of 40007. bank stock; for a deputy governor, of 3000l.; for a director, of 20007.; for an elector, 500l.; and these sums must have been possessed for six months previous to an election taking place, unless they come by bequest or inheritance. Foreigners may become proprietors of this stock, but no person can be elected a governor or director who is not a natural born British subject, or who has not been naturalized.*

The Stocks, or Public Funds. The stocks or public funds, are loans advanced to government, for which interest is regularly paid from revenues set apart for the purpose. This mode of raising supplies by levying taxes for the payment of the interest is called "The Funding System," and the loans thus raised, constitute "The national Debt."

The different funds or stocks, are variously denominated, according to the terms on which they were established. Thus, some are called the 3, some the 4 per cents. &c. and the manner of buying stock is to give a specific sum for a nominal hundred. If for instance, the price of the 3 per cents. is 607. this sum is paid for 1001. stock, which yields a dividend of 37. a year, that is, 57. per cent. per apnum. When stocks are low, the interest is high, and vice versa. New loans are paid by instalments of 10 to 15 per cent. at stated periods, and they generally comprehend different kinds of stock, which together are called Omnium. If these be disposed of separately before all the instalments are paid, the different articles are called Scrip, which is an abbreviation for Subscription.

In raising loans, a douceur is sometimes given by government of an annuity for a limited time; such are called Terminable and Irredeemable annuities; but the regular stocks on which the common interest is paid, are called Perpetual Annuities, and also redeemable. Loans are called a Funded Debt, when taxes are appropriated for paying the interest; but, sums raised for which no such provision is yet made, are called the Unfunded Debt. Of the

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latter description are Exchequer, Navy, Victualling, and Ordnance bills, which are issued by these different offices, and which bear an interest until paid off. The interest is mostly 3d. or 3 d. per day, for every 1007. A plan has been adopted for paying off or reducing the national debt by means of the Sinking Fund, which is a portion of the revenue set apart for that purpose, operating on the principle of compound interest. In 1786, it was raised to a million annually, and in 1792, to 1,200,000l. A grant was likewise added of 1 per cent. per annum, on every new loan that has been since raised.

The Sinking Fund, or, as it is now generally called, the Consolidated Fund,' is under the management of certain Commissioners, who constantly apply it in buying up or redeeming stock; and the interest accruing on such redeemed stock goes immediately to the increase of the fund, together with all terminable annuities, as they become extinct. By the operation of this plan alone, near 150 millions of the public debt have been redeemed in 20 years, and it is computed, that if no new loans were raised, the whole of the national debt, which in 1808 was about 700 millions, would, in less than 40 years, be entirely redeemed.*

Select Books on the History and Constitution of England.

8vo.

Goldsmith's History of England, continued by Dr. Coote, 4 vols. Mavor's England, to the present time, 2 vols. 18mo. Henry's History of Great Britain, 12 vols. 8vo. with Andrews' Continuation to the death of Queen Elizabeth, 2 vols. 8vo. Hume's History of England, continued by Smollett and Belsham is the only collection on a large scale, which is brought down to the present time. The History of Great Britain connected with the Chronology of Europe to the death of Henry VIII. 1 vol. 4to. by J. P. Andrews. Adolphus' History of the Reign of George III. 3 vols. 8vo. Custance on the Constitution of England, 12mo. may be read with advantage by those who have not leisure to peruse Delolme's admirable work on the same subject, in 8vo. to which it is an excellent introduction.

Select Books on the History of Wales, Scotland, and Ireland.

1. Wales. Warrington's History of Wales, 2 vols. 8vo. Bingley's North Wales, 2 vols. 8vo. and Malkin's South Wales, 2 vols.

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8vo. though properly speaking, Tours, abound in historical matter, and are well calculated to acquaint us with the present and former state of all parts of Wales. To Bingley, is appended an ingenious dissertation upon the language, manners, and customs of the Welsh. Hoare's Giraldus Cambrensis, 2 vols. 4to.

2. Scotland. Robertson's History of Scotland, 3 vols. 8vo. Pinkerton's, 2 vols. 4to. Laing's, 4 vols. 8vo. Mavor's Scotland, 18mo. 3. Ireland. Leland's History of Ireland, 3 vols. 4to. Ware's History and Antiquities of Ireland, 3 vols. fol. Gordon's History of Ireland, 2 vols. 8vo. and History of the Rebellion in 1798, 8vo. Wakefield's Ireland, 2 vols. 4to. Mavor's Ireland, 18mo. Barlow's History of Ireland, now publishing, 8vo.

For the reasons stated in p. 128, we do not proceed further in the wide field of history, but shall close the department of civil history, by furnishing the student with such guides, as will enable him to traverse with profit and with pleasure, the large space which it occupies.

SECT. II.-SELECT BOOKS IN THE REMAINING DEPARTMENTS OF MODERN HISTORY.

I. Select Books on the History of the European States. 1. Denmark, Sweden, and Russia.

Mallet's Northern Antiquities, 2 vols. 8vo. Vertot's Revolutions of Sweden, 8vo. Voltaire's Charles XII. 8vo. or 12mo. Harte's Life of Gustavus Adolphus, 2 vols. 8vo. Tooke's History of Russia, 2 vols. 8vo. Life of Catharine, 3 vols. 8vo. Mavor's Northern States, to the present time, 18mo.

2. Prussia, Germany, Switzerland, and United Provinces. Wraxall's Memoirs of the Court of Berlin, Dresden, Warsaw, and Vienna, 2 vols. 8vo. Memoirs of the House of Brandenburgh, 12mo. Robertson's History of Charles V. 4 vols. 8vo. Cox's History of the House of Austria, 3 vols. 4to. Butler's Revolutions of the Germanic Empire, royal 8vo. Aikin's Translation of Tacitus' Account of the antient Germans, 8vo. Mavor's Northern States, 18mo. and Hungary, Holland, and Switzerland, 18mo. Planta's Helvetic Confederacy, 3 vols. 8vo. Naylor's History of Helvetia, 4 vols. 8vo. Sir Wm. Temple's Observations on the United Provinces, in the 1st. vol. of his Works, 8vo.

3. France.

Bossuet's History of France, 4 vols. 8vo. Henault's Chronological Abridgment, 2 vols. 8vo. Wraxall's History of France, 2 vols. 4to. Voltaire's Age of Louis XIV. and XV. 3 vols. 12mo. Me

moirs of the Duke of Sully, 5 vols. 8vo. Since the Revolution the best books are Stephens' History of the late War. Adolphus' Biographical Memoirs of the French Revolution, and History of France, 4 vols. 8vo. Biographie Moderne; or Memoirs of remarkable Characters since the Revolution, 3 vols. 8vo. Mavor's France and Navarre, to the present time, 18mo.

4. Spain, Portugal, and Italy.

Vertot's Revolutions of Spain and Portugal, 8vo. and 12mo. Watson's History of Philip II. 3 vols. 8vo. Bigland's Spain, 2 vols. 8vo. Mavor's Spain and Portugal, to the present time, 18mo. Southey's Chronicle of the Cid, 4to. Guicciardini's History of Italy, 10 vols. 8vo. History of the Council of Trent, by Father Paul, fol. Vertot's History of the Knights of Malta, 5 vols. 12mo. Mavor's Italian States, 18mo.

5. Turkish and Arabian History.

Cantemir's History of the Ottoman Empire, fol. Knolles' Turkish History with Rycaut's Continuation, 3 vols. fol. Ockley's History of the Saracens, 2 vols. 8vo. Dallaway's Constantinople, 4to. Thornton's present state of the Turkish Empire, 2 vols. 8vo. Addison's Revolutions of Fez and Morocco, 8vo. Marigny's History of the Arabians, 4 vols. 8vo.

II. Select Books on the History of Asiatic Countries.

Dow's History of Hindostan, 3 vols. 4to. "Orme's Fragments of the Mogul Empire, 4to. Maurice's Antient and Modern History of Hindostan, 5 vols. 4to. and Indian Antiquities, 7 vols. 8vo. Robertson's Disquisition on India, 8vo. Richardson on the Language, Literature, and Manners of Eastern Nations, 8vo. Pennant's Indian Recreations, 3 vols. 8vo. Sir Wm. Jones' Works, 12 vols. 8vo. and the Asiatic Researches, 8vo.

III. Select Books on the History of Africa.

Mavor's History of the African Nations, 2 vols. 18mo. See also p. 89, ante.

IV. Select Books on the History of America.

Robertson's America, 4 vols. 8vo. Herrera's History of South America, 6 vols. 8vo. Gordon's History of the American War, 4 vols. 8vo. Southey's History of Brazil, 2 vols. 4to. Mavor's North and South America, 18mo.

Select Books on Universal History, Antient and Modern.

Universal History, Antient and Modern, 26 vols. folio, or 60 vols. 8vo. An excellent substitute for this immense library of history, -will be found in Mavor's Universal History, in 25 vols. 18mo. con