138 
REPORT—1854. 
we adopt the law of Scotland and Ireland by allowing two or more banks of issue, 
whatever may be the number of their partners, to unite and to retain the united 
amount of issue of all the united banks. With reference to the issue of notes under 
£5, we think that is a question for the consideration of statesmen, and its adoption 
must depend upon the political circumstances of the country. As long as Australia 
can supply us with gold sufficient to meet our foreign requirements and to main¬ 
tain our domestic currency, probably we had better remain as we are. At the same 
time it may be useful to know, that, in case of necessity, we have here a magazine 
from which we may draw a large supply of the sinews of war. 
On the Education of the Poor in Liverpool. 
By the Rev. A. Hume, D.C.L., LL.D., F.S.A. 
Suggestions for improving the present mode of keeping and stating the 
National Accounts. By Chaki.es Jelmcoe, Fellow of the Statistical 
Society. 
The object of this paperwas to showthc many inconveniences arising from the mode 
in which the national accounts arc at present stated, and to suggest a more accurate 
one, by means of which those inconveniences would be got rid '>f, and many real 
advantages obtained. It was pointed out, for instance, that bond fide purchase* 
were on all occasions blended with ordinary expenditure, and thus not only ^cra 
the annual expenses of the country improperly exaggerated, but the purchase* 
tbcmsclves, from the nature of the arrangement, altogether lost, sight of in a yew ,)r 
two, and thus any check upon a revenue arising from them also foregone, B 
argued that it a proper statement were annually made of the national assets am 
liabilities, in which a due record was contained of ull the items of the P r0 P t ' rt -' 
belonging to the country as well ns its *• indebtedness,’' materials would be in a 
yearn at band which would afford at one view a complete insight into the financial 
condition of the country, and give the menus of judging with comparative ease 01 
the propriety and feasibility of such projects for its improvement ns might at 
time be brought forward. The returns from the Treasury, under Mr. Wilson* 
superintendence, were more carefully got up of late years than formerly, but uw) 
Were without connexion or coherence. It was shown how this defect migh _ 
remedied, and how these returns might be condensed into the smallest corop - 
without any sacrifice of the minutest details. 
0,1 f/ie Rise > Progress , and Present Condition of Joint. Stock Banks. 
By Jambs Knight. , 
® uthor “minced by glancing at the origin of the Rank of England,- 
l rC5 Tr^ rcnt Period* since the passing of the Bank Charter Act m 
> n Th . e cluef object was to exhibit the rise and progress of the several 
25, n 3 , J rry "'$ on business in the Metropolis; viz. the London and JJ * 
miMtcr Bank (Mtabl.shed in 1834); the London Joint Stock, in 1S3« s the 0 
ifi-m. 8 ?, 9; n llle Commercial Bank, in 1841; the London and Count). 
f) ,' V. a . nd th e Royal British Bank, in 1849. The resources of these * 
uf™ ? f Plication (June, 1854), in the aggregate 372« pr°F “V d 
j.® ®J are ?' at *d representing capital "subscribed ” £12,604, « 
6 to lifn £2 »767.0.15. Deposits, £25,250,171, and the dividends ran S 
, r P er ccnt -* three of the banks paving 10 per cent., one 14 P er c ' ,. vC 
analv-fipa er Cent ' ^ divisions'of the quinquennial periods con, j\.. t o 
int0 ,he ratios of deposits to paid-up capiUl Pf^S 
paid-up capital, and reserved funds to paid-up capital. At the end of the-c 
J ondor^Lifl w ra ^l°^ reserved fund to paid-up capital was, in the case joint 
Hlluk * 8 -353, and to deposits, 3'0 10 ; in the^don^. 
in the f onrlnn d i ?• pcr Ce,,t ‘ ; in «>« Union Bank, 11*813 and l’< M 
Bank ^ ,3 ' 208 and 1-948 per cent.; and in the Comm 
Bank, Ij 318 and 3 370 per cent, respectively. In the third quinquennial P 
