The British Guiana Bank. 11 



Guiana Bank passed through all its stages in November. It was not 

 until the 10th February in the next year (1837). however, that the bank 

 began business, with Mr. George Robertson as manager, and Mr. J. H. 

 Bonner as accountant. The Berbice branch was started on the 6th of 

 March. It was customary for some time to advertise in the newspapers 

 the names of the directors in charge of the bank each week ; and at 

 public dinners "The British Guiana Bank" usually figured on the toast 

 list. The Colonial Bank, which opened business on May 1, kept its 

 accounts in dollars and cents, but the other one in guilders, stivers, &c, 

 until the decimal system came into authorised general adoption, that is. 

 in February, 1839. The first half-yearly meeting was held on the *24th 

 • Inly. 1837. In their report the directors stated that they had it in 

 contemplation to limit the issue for the time being to 1,000 shares in 

 order to fulfil the stipulations of the Act of Incorporation, requiring 

 4.500 shares to be subscribed for by the end of the year. Forty per 

 cent, had been paid on 3,509 shares which were held by 345 shareholders. 

 At the end of June the deposits in the bank had amounted to f 684,780:7!* 

 cents and on the 15th of the next month they had increased to 

 t'821. 801:16. The announcement was also made that the old-established 

 I Kinking firm of Messrs. Smith. Payne and Smiths, of London, had been 

 appointed agents for the bank — a connection which has been unbroken to 

 this day. For the short time the bank had been in existence it had 

 1*22.497:74 in its favour, after payment of about f 80, 000 for preliminary 

 expenses as well as its ordinary current expenses. No payment of a 

 dividend was recommended, but at the next half-yearly meeting a 

 dividend at the rate of 6 per cent, per annum was declared. Before the 

 third meeting came round, on July 24th, 1838, Governor Carmichael 

 Smyth died of yellow fever. He had been a good friend and staunch 

 supporter of the bank, and had done his best to improve the colonial 

 currency. 



At this time the capital stock of the bank consisted of 6,000 shares, 

 50 per cent, of which had been paid. In April, an ordinance had been 

 passed amending the charter of 1836, requiring, inter alia, that the 

 bank notes should not be less than $5, " payable on demand in dollars of 

 the acknowledged weight and fineness of Spanish dollars " and that the 

 corporation should not find money or make advances in respect to real 

 property. Mr. Croal, who retired during the year, was succeeded by 

 Mr. A. Glen. The other gentlemen on the board of directors at the 

 beginning of 1839 were : Messrs. B. J. Traughton. jnr.. A. Garnett, 

 Colin Simsou, J. Christy, A E. Luthers, Charles Benjamin, A. Vyfhuis, 

 and John Cameron. The staff consisted of Mr. G. Robertson, manager 

 and cashier; Mr. J. H. Bonner, accountant; Mr. James Waddell. assist- 

 ant accountant; Messrs. James Robertson and John Rose, tellers : 1). J. 

 Lucie Smith, jnr., was standing counsel ; Mr. Andrew Galloway, the bank s 

 solicitor, and Mr. F. Verbeke its secretary. At the Berbice branch 

 Mr. A. Bone was cashier and Mr. John Dyett accountant, At the fourth 

 half-yearly meeting the payment of a dividend of 6 per cent, was recom- 



