Adverting to the dates in the foregoing illustration, a few words of explanation are perhaps necessary, for it will be seen that under the heading “Bank rate was,” 21st May and 18th June, the days upon which the official minimum was changed, are placed opposite different rates. The Bank of England directors examine their weekly return or balance-sheet, which is made up to the close of business each Wednesday on the Thursday following, and in the afternoon of the latter day any change in the Bank’s rate of discount is announced. Of course, during abnormal times the rates may be changed on any day as the exigencies of the moment may direct; but, fortunately, though the money-market is subject to fits, its surface, as a rule, is seldom so violently perturbed as to call for drastic remedies, and we shall find that the dates in question were Thursdays. It follows, therefore, that these days opened with the bank rate at one figure and closed with it at another. Hence the anomaly to which attention has been drawn. The banker owed Mr. Jones, of Whitechapel, interest at 2½ per cent. from 5th February (exclusive) to 21st May (inclusive). On the 21st May, we know, the Bank rate was reduced from 4 to 3½ per cent.; so he owed him 2 per cent. on his principal from 21st May (exclusive) to 18th June (inclusive)--the date of the next change. Should not the reason of this be quite clear to any reader, if he remember that from 21st to 22nd May the Bank rate would have been one day at 3½ per cent. the difficulty will probably disappear.