While, unluckily, we do not know the name of the Scottish gentleman who propounded the scheme to Mr Holland, we are enabled, by the recital of the act, to ascertain who were the first patrons and nurses of the project generally. Of merchants in London, besides the English name of Mr Holland, we find those of Mr James Foulis,[153] Mr David Nairn, Mr Walter Stuart, Mr Hugh Frazer, Mr Thomas Coutts, and Mr Thomas Deans, who were all of them probably Scotsmen. Of Edinburgh merchants, there were Mr William Erskine, Sir John Swinton, Sir Robert Dickson, Mr George Clark, junior, and Mr John Watson. Glasgow was wholly unrepresented. These individuals were empowered by the act to receive subscriptions between the ensuing 1st of November and 1st of January. The whole scheme was modest, frugal, and prudential in a high degree. [Sidenote: 1695.] It was contemplated that the Bank of Scotland should start with a subscribed capital of £1,200,000 Scots—that is, £100,000 sterling, in shares of £1000 Scots each; two-thirds to be subscribed by individuals residing in Scotland, and one-third by individuals residing in England, no person to hold more than two shares. The company was to be under the rule of a governor, deputy-governor, and twenty-four directors, of the last of whom twelve should be English, these being ‘thought better acquainted with the nature and management of a bank than those of Scotland.’ As a further encouragement to English assistance, the act ordained that any person subscribing for a part of the stock, should be considered as _ipso facto_ naturalised.