AUXILIARY EXCHANGE. 403 



don bankers, is extended to provincial bankers; it results 

 that every few hours the claims which masses of men have on 

 one another throughout the kingdom, are compared and set 

 tled by transfers of small amounts, which themselves take 

 the form of paper-orders that are presently registered as 

 credits. 



Among examples of evolution which societies furnish, 

 perhaps none is more striking than this gradual advance 

 from the giving and receiving of presents by savages, to the 

 daily balancing of a nation s myriads of business transactions 

 by a few clerks in Lombard Street. 



