But in the same time the shares of the London and Westminster Bank, in spite of an addition of 100 per cent to the capital, have risen from 27 to 66, and the dividend from 6 per cent to 20 per cent.

That the Bank proprietors should not like to see other companies getting richer than their company is only natural.
Some part of the lowness of the Bank dividend, and of the consequent small value of Bank stock, is undoubtedly caused by the magnitude of the Bank capital; but much of it is also due to the great amount of unproductive cash--of cash which yields no interest--that the Banking Department of the Bank of England keeps lying idle.

If we compare the London and Westminster Bank--which is the first of the joint-stock banks in the public estimation and known to be very cautiously and carefully managed--with the Bank of England, we shall see the difference at once.

The London and Westminster has only 13 per cent of its liabilities lying idle.

The Banking Department of the Bank of England has over 40 per cent.