CHAPTER VIII.
The Government of the Bank of England.
The Bank of England is governed by a board of directors, a Governor, and a Deputy-Governor; and the mode in which these are chosen, and the time for which they hold office, affect the whole of its business.

The board of directors is in fact self-electing.

In theory a certain portion go out annually, remain out for a year, and are subject to re-election by the proprietors.

But in fact they are nearly always, and always if the other directors wish it, re-elected after a year.

Such has been the unbroken practice of many years, and it would be hardly possible now to break it.