"This proves either extraordinary confidence in the Bank, or that it keeps an ample stock of precious metal," observed Peter. "Money cannot be much wanted which remains smoked for sixty years after a fire. However, your merchants are wise to let money remain where it is safe." "Our bank-credits serve our objects as well as cash," replied Heins; "and if we called out our funds in the shape of coin, every good ducat would be worth no more than the base money which foreigners set afloat in the market. It answers our purpose better to sell our claim for this money at a premium than to use the actual money; and thus the Bank preserves its resources within itself." "And more than preserves them. Your city must derive a fine revenue from this Bank. There are fees on deposit; fees on transfer; fines for neglecting to balance accounts twice a-year; and no little profit by selling foreign coin for more than is given for it, and by disposing of bank-money at a higher agio than that at which it is received. All this together must amount to much more than the expenses of the establishment." Heins began to feel an increase of respect for the foreign sailor, who seemed to know as much of commercial concerns as if he had been a Dutchman. He was also impressed by the tone of confidence with which the stranger spoke of what improvements would be adopted from abroad into his own country. It was strange to hear him now pronouncing upon a national bank as one of the necessary institutions of the Keiser's new city. No commerce, he declared, could proceed on equal terms between a country that had stable banks and one that had not. The advantages of a bank as a medium for the transaction of business, as a rendezvous for the balancing of bills of exchange, and, above all, as a security, by the practice of discounting, against all dangerous inequalities in the distribution of money, were too great to be compared with any other plan of mutual accommodation. The Stadt-house might be rivalled as a building; but unless its noble banking institution was adopted, no imitation could command such respect as the original. The Keiser must establish a bank, or the great city of the Neva would never rival that of the Amstel, to whatever pitch of grandeur its contemplated navy might attain.