If they had to keep a much larger part than now of that reserve in barren cash, their dividends would be reduced, and their present success would become less conspicuous.
The second misgiving, which many calm observers more and more feel as to our largest joint stock banks, fastens itself on their government.

Is that government sufficient to lend well and keep safe so many millions?
They are governed, as every one knows, by a board of directors, assisted by a general manager, and there are in London unrivalled materials for composing good boards of directors.

There are very many men of good means, of great sagacity and great experience in business, who are obliged to be in the City every day, and to remain there during the day, but who have very much time on their hands.

A merchant employing solely or principally his own capital has often a great deal of leisure.

He is obliged to be on the market, and to hear what is doing.