130 THE BANK ACCOUNTANT. 



dreds may be drawn upon it in the course of the twelve- 

 month, and these all in the bank's notes ; and from the 

 notes kept in circulation through its means, the bank 

 derives a profit of three per cent. It draws interest for 

 its money from two distinct sources, in the first place, 

 from A. B. for the cash which it advances to him, and, 

 in the next, from the notes in which its advances to A. 

 B. are made. In no other part of the world are the in- 

 terests of borrower and lender so admirably adjusted as 

 in Scotland under this scheme/ 



The essential advantage of this Cash Credit system 

 is that, in the department of trade, commerce, and agri- 

 cultural enterprise, it puts tools into the hands of those 

 best fitted to use them. Men of character and brains 

 men who can discern openings for capital, and whom other 

 men can trust in the attempt to avail themselves of those 

 openings attain that position in society which nature 

 has prepared them to occupy. The country is benefited 

 in many ways, vitally, incalculably benefited. The right 

 men do the work, therefore it is effectually done ; the 

 right men earn the reward of competence and respect, 

 therefore there is comparatively little grumbling. It is 

 manifest that such a system promotes that genial circu- 

 lation of talent from the low places to the high places 

 of society which does so much to prevent social stagna- 

 tion, to give geniality and healthfulness to the relation 

 of class to class, to knit firmly yet freely together the 

 entire social framework. Hugh Miller knew Scotland, 

 as few men have ever known her, and it was his deep 

 conviction that, in certain important particulars, she had 

 the advantage of England. c Scotland/ he said, ' is still 

 truly a nation, not a mere province : her institutions 

 are diverse from those of England, her interests dis- 

 tinct, her character different/ It is fair to add that 



