is not either impossible or impracticable, particularly on this one
account: that almost all the country business would be managed by
running bills, and those the longest abroad of any, their distance
keeping them out, to the increasing the credit, and consequently the
stock of the bank.


OF THE MULTIPLICITY OF BANKS.


What is touched at in the foregoing part of this chapter refers to
one bank royal to preside, as it were, over the whole cash of the
kingdom: but because some people do suppose this work fitter for
many banks than for one, I must a little consider that head. And
first, allowing those many banks could, without clashing, maintain a
constant correspondence with one another, in passing each other's
bills as current from one to another, I know not but it might be
better performed by many than by one; for as harmony makes music in
sound, so it produces success in business.

A civil war among merchants is always the rain of trade: I cannot
think a multitude of banks could so consist with one another in
England as to join interests and uphold one another's credit,
without joining stocks too; I confess, if it could be done, the
convenience to trade would be visible.

If I were to propose which way these banks should be established, I
answer, allowing a due regard to some gentlemen who have had
thoughts of the same (whose methods I shall not so much as touch
upon, much less discover; my thoughts run upon quite different