Not possessing the accumulated credit of years, it would have to wind up before it attained that credit.
'The value of the opportunity too is proportioned to what has to be paid for it.

Some old banks have to pay interest for all their money; some have much for which they pay nothing.

Those who give much to their customers have of course less left for their shareholders.

Thus Scotland, where there is always a daily interest, has no bank in the lists paying over 15 per cent.

The profits of Scotch banks run thus: Capital Dividend L Bank of Scotland 1,500,000 12 British Linen Company 1,000,000 3 Caledonian 125,000 10 Clydesdale 900,000 10 Commercial Bank of Scotland 1,000,000 13 National Bank of Scotland 1,000,000 112 North of Scotland 280,000 10 Union Bank of Scotland 1,000,000 10 City of Glasgow 870,000 8 Royal Bank 2,000,000 8 -- ------- 9,675,000 Good profits enough, but not at all like the profits of the London and Westminster, or the other most lucrative banks of the South.
'The Bank of England, it is true, does not seem to pay so much as other English banks in this way of reckoning.