methods, both for the fund and the establishment).

Every principal town in England is a corporation, upon which the
fund may be settled, which will sufficiently answer the difficult
and chargeable work of suing for a corporation by patent or Act of
Parliament.

A general subscription of stock being made, and by deeds of
settlement placed in the mayor and aldermen of the city or
corporation for the time being, in trust, to be declared by deeds of
uses, some of the directors being always made members of the said
corporation, and joined in the trust; the bank hereby becomes the
public stock of the town (something like what they call the rentes
of the town-house in France), and is managed in the name of the said
corporation, to whom the directors are accountable, and they back
again to the general court.

For example: suppose the gentlemen or tradesmen of the county of
Norfolk, by a subscription of cash, design to establish a bank. The
subscriptions being made, the stock is paid into the chamber of the
city of Norwich, and managed by a court of directors, as all banks
are, and chosen out of the subscribers, the mayor only of the city
to be always one; to be managed in the name of the corporation of
the city of Norwich, but for the uses in a deed of trust to be made
by the subscribers, and mayor and aldermen, at large mentioned. I
make no question but a bank thus settled would have as firm a
foundation as any bank need to have, and every way answer the ends
of a corporation.

Of these sorts of banks England might very well establish fifteen,