The goldsmiths stood, both to individuals and to the government, in the relation of agents in the transfer of bullion and coin, in making payments and obtaining loans, and in the safe custody of treasure. This branch of their business has not been relinquished so very long ago; for we find a statement made in a book called _A General Description of all Trades_, and published in 1747, to the effect that―― “Goldsmiths, the fifth company, are, strictly speaking, all those who make it their business to work up and deal in all sorts of wrought gold and silver plate; but of late years the title of goldsmith has been generally taken to signify one who banks, or receives and pays running cash for others, as well as deals in plate; but he whose business is altogether cash-keeping is properly a banker.” To distinguish such of the craft as did not bank, the name silversmith was used; and these again were sub-divided into the working silversmiths, who fashioned the precious metals, and the shopkeepers, who only sold them. This statement has been preserved by Malcolm in his work on the city, called _Londinium Redivivum_. The distinction is practically obsolete in our day, and the whole craft goes more generally by the name of jewellers. It would be difficult at present to find one jeweller who is still a banker, though there is no doubt that private negotiations of the sort described may sometimes take place; but as to the safe-keeping of jewels and plate, the London jewellers do a very extensive business. Full as many people keep their family heirlooms at the great jewellers’――Hancock, Emmanuel, Garrett, Tessier, Hunt, and Roskell, etc., etc.――as they do at banks; and, again, the secret loans on valuable jewels, and the sale of some, to be replaced by cunningly-wrought paste, constitute, as of old, an important though private branch of their traffic. The great goldsmiths of old times were pawnbrokers on a magnificent scale, as well as bankers, and even church plate often came for a time into their keeping. Royal jewels and the property of the nation were not seldom in their hands as pledges, and through their aid alone could war be carried on or clamoring mercenaries paid. Italy was more liberal towards her goldsmiths than England. Here they were artists and ranked as such; in England they were artificers and traders. In the latter country they were powerful, but only through the wealth they controlled; in Italy they were admired, courted, and flattered in society, but politically their power was less. The English at all times excelled rather in manual skill than in design; and to this day the designers of jewellers, lamp-makers, furniture-makers, house-decorators, and even silk, ribbon, and cotton merchants, in England, are generally not English.