The business of an old-established bank has the full advantage of being a simple business, and in part the advantage of being a monopoly business.

Competition with it is only open in the sense in which competition with "the London Tavern" is open; anyone that has to do with either will pay dear for it.
'But the main source of the profitableness of established banking is the smallness of the requisite capital.

Being only wanted as a "moral influence," it need not be more than is necessary to secure that influence.

Although, therefore, a banker deals only with the most sure securities, and with those which yield the least interest, he can nevertheless gain and divide a very large profit upon his own capital, because the money in his hands is so much larger than that capital.
'Experience, as shown by plain figures, confirms these conclusions.
We print at the end of this article the respective profits of 110 banks in England, and Scotland, and Ireland, being all in those countries of which we have sufficient information--the Bank of England excepted.

There are no doubt others, but they are not quoted even on local Stock Exchange lists, and in most cases publish no reports.
The result of these banks, as regards the dividends they pay, is-- No.