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This relief was followed by the institution of the Provincial, Hibernian, Northern, and some other banks. The Provincial, established in 1825, is managed by a board in London, assisted in the towns in which it has branches by a local agent, and a committee of shareholders of ten shares and upwards. The Northern, Belfast, and Ulster Joint Stock Banks, are confined chiefly to Uister. The National Bank has a board in London connected with local banks in the principal towns in Ireland. The capital of each bank is subscribed by, and the profits divided equally between, the London board, and each local bank-the supreme control being in the former. The Bank of Ireland, and all the joint stock banks, except the Hibernian and Royal, issue notes for £1 and upwards. Their total circulation in 1840 was from £5,500,000 to £6,500,000. Most of the banks have branches; the Bank of Ireland began to establish them in 1825. Since the expiry of the Bank of Ireland's charter in 1838, it has been continued by act of Parliament from year to year until 1845, when it has been regulated by the new banking act, 8 and 9 Vic. c. 37, according to the following principles:-The bank to continue the banker of government, which is to pay, for the ten subsequent years, 3 per cent on the debt it owes to the bank. The proceedings of the establishment to be under the same rule which has been applied by Parliament to other banking institutions, and to make weekly returns, similar to those of the Bank of England under the new act, containing a full development of its affairs, the amount of its bullion, and the variations in the quantity thereof. The oath for the discouragement of Popery has been discontinued, no distinction being now to be made as to the oaths administered to Protestant and Catholic directors on their entrance into office, or to members before voting. The proposal for this alteration came from the existing board of directors, which consists chiefly of Protestants.

By the same act, any bank privileged to make and issue notes may relinquish this right in favor of the Bank of Ireland according to certain regulations, (Stat. 8 and 9 Vic., cap. 37, 1845,) but cannot resume such privilege. Persons having charge of public moneys may be members of banks-the restriction preventing joint stock banks being carried on within 50 miles of Dublin repealed-members to be responsible for the liabilities of the bank-may sue and be sued in the name of their officers-names of partners to be returned annually to the Stamp Office, (penalty £50,) and to be published in the Dublin Gazette. Bankers who have issued notes in the year preceding 1st May, 1845, and none others, may continue such issue on receiving a certificate from the Stamp Office stating the average amount of their notes during that period, and of the amount of their gold and silver coin-weekly accounts of the amount of notes and gold are to be rendered to the Stamp Office, and a four weeks' average of same to be set forth; if the monthly circulation exceed the average, the excess to be forfeited-monthly return of averages to be published in the Dublin Gazette-bankers' books may be inspected by an officer of stamp duties, with consent of the Treasury-notes to be for a pound or pounds only, without fractional parts; penalty £20. Notes of bankers or others, bills of exchange, transferable orders and undertakings for delivery of goods, issued after 1845 to be void, if under £1; penalty £5 to £50. Notes for £1 or less than £5 issued after 1845, must specify the name and place of abode of the person to whom payable; with other provisions-penalty £20. Persons issuing notes for less than £5, payable on demand, (except hankers,) to forfeit £20. Drafts or orders may be drawn on a banker for payment of money held by him to the use of the drawer. The new regulation took effect 6th December, 1845. The amount of the average circulation of the joint stock banks in Ireland issuing notes, during one year preceding the 1st day of May, 1845, as published in the Dublin Gazette, pursuant to the act 8 and 9 Vic., c. 37, was rated at £6,354,494.

The number of the joint stock banks now doing business is given in the annexed table:

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AN ACCOUNT PURSUANT TO THE ACT 8 AND 9 VIC., CAP. 37, OF THE AVERAGE AMOUNT OF BANK NOTES IN CIRCULATION, AND OF COIN HELD BY THE SEVERAL BANKS OF ISSUE IN IRELAND, FROM JANUARY 3, 1846, TO NOVEMBER 7, 1847.

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CONDITION OF THE BANKS OF MAINE, MAY 1, 1848.

FROM THE ANNUAL REPORT TO THE LEGISLATURE.-WITH THE DATES OF INCORPORATION.

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CONDITION OF THE BANKS OF MAINE MAY 1, 1848-CONTINUED.

Name.

1847 Lincoln Bank...... 1846 Sagadahock Bank.. 1847 Biddeford Bank

1846 Brunswick Bank..

Calais Bank.

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The charters of the Bank of Bangor, Bank of Westbrook, Central, Franklin, Kenduskeag, Lincoln, *Megunticook, and *South Berwick Banks, expired in October, 1847. Those marked have been renewed. Acts were also passed incorporating the Biddeford, Commercial, Kenduskeag, and Lewiston Falls Banks.

The Bank of Brunswick has been authorized to reduce its stock from $75,000 to $60,000, which took place October, 1847.

The bank capital of Maine in May, 1847, was..

To which add increase of the following:

Lincoln Bank, Bath...........

Lime Rock Bank, Thomaston..

South Berwick Bank..........
Biddeford Bank, (new)................

Total...........

$3,059,000

$25,000

50,000

50,000

50,000

175,000

$3,234,000

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The banks have increased their specie 100 per cent since May, 1847, and the coin on hand is equal to 22 cents for every dollar of circulation.

BANK OF ENGLAND RATES OF INTEREST.

The London Bankers' Magazine contains the following statement, showing the variations which have taken place in the rate of interest charged on advances by the Bank of England from its first establishment to the present time:—

From August 8, 1694, to August 30, 1694, on foreign bills.......
August 30, 1694, to January 16, 1695, on foreign bills...
October 24, 1694, to January 16, 1695, on inland bills...
January 16, 1695, to May 19, 1695, on foreign bills.....
January 16, 1695, (to customers of the bank,) on foreign bills.
January 16, 1695, to July 26, 1716, on inland bills......
May 19, 1695, to February 28, 1704, on foreign bills....
May 19, 1695, on foreign bills not payable at the bank.
February 28, 1704, to June 22, 1710, on foreign bills....
June 22, 1710, to July 26, 1716, on foreign and inland bills..
July 26, 1716, to April 30, 1819, on bills and notes......
April 30, 1819, to October 27, 1720, on bills.....

October 27, 1720, to August 23, 1722, on bills...

August 23, 1722, to October 18, 1742, on inland bills...

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..per cent £6

October 18, 1742, to December 12, 1744, on foreign bills....
December 12, 1744, to May 1, 1746, on foreign bills (15 days to run).
on inland bills.......

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May 1, 1746, to April 5, 1773, on foreign bills.............

May 1, 1746, to June 20, 1822, bills, &c. (95 days to run).

June 20, 1822, to December 13, 1825,
December 13, 1825, to July 5, 1827,
July 5, 1827, to July 21, 1836,

July 21, 1836, to September 1, 1836,
September 1, 1836, to July 15, 1838,

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