SCOTLAND. 295 



selection made by the banks of those to whom they grant 

 such facilities, that bad debts are rarely made. 



This excellent machinery gives an incredible facility in 

 the transacting of business ; sales and purchases of any 

 importance being paid for by simple cheques, a small 

 issue of notes suffices for the transaction of a large 

 amount of business. Agriculture as well as manufac- 

 tures is benefited by the system. It may be said that 

 money is never wanting to a reasonable extent, even for 

 agricultural adventure. It seems to be a point of honour 

 not to take an undue advantage of the facilities given, 

 and thus this general credit is maintained. Besides, all 

 know each other in these small towns, where every man 

 has his banking account ; everybody is aware what his 

 neighbour is about, and if a farmer borrows from his 

 banker, the reason why he does so is known. These 

 banks occasionally lend money, but only for short 

 periods, on mortgage, which is just the same as our re- 

 demptive sale (vente d remerti). Loans on mortgage are 

 less requisite for farming purposes in Scotland and Eng- 

 land than in France, because farming in the two former 

 countries is more generally distinct from property ; they 

 exist, nevertheless, to some amount, owing to the ad- 

 vances proprietors are often required to make for per- 

 manent improvements ; and under that form, as well as 

 in other ways, plenty of money is to be had on good 

 terms. Life assurance companies also lend on mortgage 

 security within the United Kingdom. 



Means for propagating a knowledge of the best methods 

 of cultivation are adopted in Scotland quite as much as 

 in England. The Highland and Agricultural Society of 

 Scotland, dating as far back as 1784, has the start by half 

 a century of the Royal Agricultural Society of England. 



