Supposing the cross line to represent the thoroughfare running from the "west end" by Charing Cross, through the Strand, Fleet street, Ludgate hill, and Cheapside, to the bank, Royal exchange and Mansion-house, let us direct our attention to the north and south points. The mail and stage-coaches going by the north roads generally call at the Angel inn and the Peacock tavern, which are close to each other, in Islington; and those going south call at the Elephant and Castle inn, in Newington. These two northern and southern points, therefore, are great gathering places and stations for short stages and omnibuses. Between the Angel inn at Islington and the Elephant and Castle inn there are seventeen omnibuses plying. These vehicles start from Islington, taking generally a supply of passengers for the city, there being but few who require to go the whole way to the Elephant and Castle. There are two roads, meeting at a point at the Angel, which lead into the city-one called the city road, which leads direct to the bank and Royal exchange; the other termed the Goswell street road, which keeps a little more south than the city road, and leads into St. Martin's-le-Grand, past the general postoffice. This road the omnibuses take which ply between the Angel inn and the Elephant and Castle inn. A number of passengers generally leave the vehicles at the postoffice: they then, passing down Newgate street run through Farringdon street, past the front of the Fleet prison, and across the Thames by Blackfriars bridge. The length of this route is about three miles. In addition to the omnibuses plying between the Angel inn and the Elephant and Castle inn, there are three plying between the latter and Charing Cross, at the "west end."

On the south side of the river Thames are a great number of districts and villages which, a few years ago, presented fields and lanes between them; but which are now, by the filling up of their interstices, beginning to lose all appearance of country. Along the banks of the river, in Southwark and Lambeth, are the tanners, and dyers, and hatters, and hop-merchants, colormen, and druggists, with their factories and warehouses; further south lie Camberwell and Walworth, Newington and Kennington, Peckham and Brixton. At the Elephant and Castle inn vehicles presenting different shapes and varieties may be found-the long close omnibus; the fly, a gig-like thing hung round with curtains; the stage, that once, perhaps, run long journeys, now condemned to short-all awaiting the pleasure of the holyday-maker, or the will of the man on business. Some are for Norwood, with its spa and its gipsy-parties; others for Dulwich and its picture-gallery; or Streatham, where resided the hospitable brewer and his literary lady, whose house was so long a home to Dr. Johnson. Here, too, but more southwest, are Putney, and Kew, and Richmond; and southeast, in Kent, Deptford, and Greenwich, and Lewisham, and Blackheath.

The Angel inn at Islington presents a busy scene. A road, called the New road, comes up from the "west end," and just where this inn stands, joins the city road. Here, between the "west end" and the bank, ply fifty-four omnibuses. Through Islington, too, pass a great number of vehicles, to Holloway, Highbury, Hornsey, &c. Hornsey wood, a favorite spot for excursions, is supposed to preserve in its name a relic of the great forest which once stood on the north side of London, and which abounded with bears, wolves, and wild-boars. Away, northwest, rise the high grounds of Hampstead and Highgate, much resorted to by those who seek to escape from the fogs of London to a purer air. The country in this direction is dotted over with villas and villages, and affords some delightful views. Indeed the environs of London are, speaking generally, admirable. The weeping atmosphere which in winter keeps the city in darkness, and the pavement perpetually moist and miry, imparts in summer a green and refreshing verdure to all the fields around the metropolis. And thus the pent-up citizen, whose business or means will not permit him to visit the brown plains of France, need not fret himself for that. He can take an omnibus to Hampstead, and for a shilling, with ease to himself and profit to his carrier, look down from Hampstead heath on one of the finest prospects to be had in the neighborhood of any capital city.

The populous villages of Hackney, Homerton, Clapton, Edmonton, immortalized by the adventures of John Gilpin, Enfield, celebrated in former days for its chase (a large tract of woodland, which was well stocked with deer, but has been disforested), and further off, Epping and Henhault forests, which together cover 10,000 acres, and contain some fine trees, lie on the north and northeast of London.

At the city end of London, in Bishopsgate street and Gracechurch street, in Corn

Fleet Street-Procession of Mail Coaches on the Queen's Birthday.

hill and Leadenhall street, from the bank and Royal exchange, are to be found vehicles running to the various places we have named. It has been stated on good authority that about 1,600 trips or journeys are made every day through Cheapside by short stages, omnibuses, hackney-coaches, and cabriolets.

There is an annual procession of mail-coaches on the queen's birthday, both in London and in Dublin. Von Raumer, in "Letters from England," speaking of the London procession, says: "Such a splendid display of carriages and four as these mail-coaches and their horses afforded could not be found or got together in all Berlin. It was a real pleasure to see them in all the pride and strength which, in an hour or two later, was to send them in every direction with incredible rapidity to every corner of England."

Hackney-coaches and sedan-chairs were, until the beginning of the present century, the only public vehicles in use in the streets of London. The sedan-chair has almost entirely disappeared. In the time of Hogarth it was considered as a courtly vehicle, and in one of his plates of the "Modern Rake's Progress," we see his man of fashion using it to go to St. James's. It continued to be used at a much later period, and does not appear to have been generally laid aside until the beginning of the present century. About five-and-twenty years ago a sedan was very commonly seen in the hall or lobby of gentlemen's houses, no longer used, but laid like a ship in ordinary.

Sedan-chairs were introduced by Charles I. on his return from his visit to Spain. When the duke of Buckingham, who received two of the three sedan-chairs which Charles brought from Spain, used them in London, a great clamor was raised against him by the populace, that he was reducing free-born Englishmen and Christians to the offices and condition of beasts of burden.

In 1826 the number of hackney-coaches and cabriolets in the metropolis was eleven hundred and fifty, paying a duty of 21. per lunar month for each, which produced, including fines, 29,3921. In 1827 and 1828 the number was exactly twelve hundred; and in 1829 and 1830 (in the latter year omnibuses were introduced) the number was twelve hundred and sixty-five, producing a yearly duty of 32,000l. By the hackney-coach act passed in 1831, the number was directed not to exceed twelve hundred until the beginning of 1833, but since that period licenses have been granted without limitation as to number. The number of hackneycoaches and cabriolets at present licensed in the metropolis is seventeen hundred and seven. It would be difficult to arrive at a proper idea of the number of persons who use them, or the amount of money earned by them daily. It is understood, however, that the proprietors require from a guinea to twenty-five shillings a day from the drivers.

CHAPTER XXX.

THE "BANK" AND BANKING.-THE MINT.-THE EXCHANGE AND ITS NEIGHBORHOOD.

THE Jews and the Lombards were the earliest money-brokers. By Lombards, is generally understood merchants from the Italian republics of Genoa, Lucca, Florence, and Venice.

In the narrow street called Old 'Change, which runs from Cheapside toward the river, was formerly the office of the king's exchanger. The exchanging of the coin of the realm for foreign coin or bullion was early held to be an especial royal prerogative-a "flower of the crown." The "statute concerning false money," passed in 1299 (27 Ed. I.), inflicted the penalty of loss of goods and life for bringing in base money into the country; but permitted all persons, of whatever country or nation, to bring" to our exchange all sorts of money of good silver, of whatever foreign coin or whatever value they may be." In the act of Edward III., "It is accorded, that it shall be lawful for every man to exchange gold for silver, so that no man hold nor

take profit for making such exchange, upon forfeiture of the money so exchanged: except the king's exchangers, which take profit of such exchange, according to the ordinance made."

The goldsmiths, however, became dealers in foreign coin, and, in spite of the king's exchanger, took "profit for making such exchange." Their shops were chiefly on the south side of Cheapside, and extended from Old 'Change to Bucklersbury. There were goldsmiths also in Lombard street. Whatever may have been done be tween individuals in the way of lending and borrowing money (taking interest for the use of money was not allowed by law till 1546), the practice could not be general; for down to the year 1640, the merchants of London were in the habit of lodging their money at the mint, in the Tower of London, as a place of security; the mint was, in fact, their bank. But Charles I., having in that year taken possession of two hundred thousand pounds, which was lying at the mint, destroyed its character as a place of security, and compelled the merchants to keep their money at home. On the breaking out of the civil war, it became a common practice for the apprentices and clerks of the citizens to rob their masters or employers, and run off. This opened the way for the goldsmiths to become bankers. They received money in trust, allowing interest for it, and their receipts, or acknowledgments of the sums intrusted with them, began to pass from hand to hand, just as bank notes do now. They had been in the habit of lending money to the king, on the security of the taxes. This practice they extended to private individuals, on the security either of their credit or of goods; and thus, previous to the establishment of the bank of England, the goldsmiths were the bankers of London, and had laid the foundation of the present metropolitan banking system.

The bank of England-the largest bank in the world-was founded in 1694. Several schemes had been suggested by different individuals for a banking establishment; but at last the project of a Scotch gentleman of the name of Patterson was acted on. The government of King William III. being in great want of money, it was proposed to lend it one million two hundred thousand pounds, on the condition of the lenders receiving a charter of incorporation as a banking company. This was agreed to; the subscription list was filled in ten days, and on the 27th of July, 1694, the bank received its charter of incorporation. By this charter the management of the bank was committed to a governor, deputy-governor, and twenty-four directors. The charter was at first limited to eleven years; but it has been renewed at successive periods since. The last renewal was in 1833, when it was extended till 1855, with a proviso that, in 1845, if parliament think fit, and the money owing by government to the bank be paid up, the charter can then be withdrawn. Some alterations were made in the management of the bank, on the renewal of the charter in 1833, and it was then directed that a statement of the affairs of the bank should be sent weekly to the chancellor of the exchequer, and that an average statement of these accounts should be published quarterly.

The amount of money lent by the bank to government gradually increased; in 1833 it was 14,686,8047. It has since been reduced to 11,015,1007. This large sum is the security given to the public for the solidity of the bank.

The bank" is certainly an enormous pile of building. It was referred to the late Sir John Soane to say what he thought would be a fair rent for the bank, used as it is for its present purposes. His opinion was, that thirty-five thousand pounds per annum was a fair charge for rent, and five thousand for fixtures, repairs, &c., making forty thousand pounds. In 1832, there were employed at the bank eight hundred and twenty clerks and porters, and thirty-eight printers and engravers; and there were also one hundred and ninety-three pensioners, chiefly superannuated clerks, who received in pensions thirty-one thousand two hundred and forty-three pounds, averaging one hundred and sixiy-one pounds to each. In the same year the salaries and pensions amounted to two hundred and eighteen thousand and three pounds, the house expenses to thirty-nine thousand one hundred and eighty-seven pounds; the directors' allowance was eight thousand pounds, and the rent, &c., was set down, as already stated, at forty thousand pounds. The salaries of the officers at the branch banks in the country amounted to twenty-five thousand pounds.

The principal rooms of the bank are freely open to the public during banking hours. Speaking of the pay-hall, the Baron Dupin, in his "Commercial Power of Great Britain," says: "The administration of a French bureau, with all its inaccessibilities, would be startled at the view of this hall!" The largest amount of gold