There was another ruinous system, which had lasted for several years. It was thought desirable to give the usual dividends, and having no profits, they actually took from their capital to pay these dividends. A case of this description was brought before the Privy Council, in July, 1849, when Lords Brougham and Campbell declared the practice to be illegal. Of late years, several branch Banks have been formed, namely, the Agra and United Service, having a capital of 63,64,500 rupees; the North-Western Bank of India, the Delhi, and the Simla, having a capital of 22,05,600 rupees. The Oriental Bank Corporation has a capital of £2,000,000 sterling: it was incorporated by Royal Charter in 1851. This bank does an immense deal of business, and is more liberal in its transactions than any other bank in India. It has its head office at Bombay. Now the capital of the Bengal Bank is, as I have already remarked, £1,000,000; and it has a charter, so that in case of failure, no one is liable to any loss, beyond the amount of his share. The Union Bank had no charter. The failure of the Union has caused the shareholders not to pay (besides the loss of their capital) _pro rata_; but a list of the wealthiest shareholders having been made out, one person was assessed £20,000, another £10,000, another £5,000, and others £1,000, and so on, even though the unlucky wight had only one unfortunate share. Thus, under these circumstances, the Bishop of Calcutta, as trustee of the Cathedral, for which his Lordship had subscribed a large sum, was compelled to pay a very considerable amount. Some of the minor Banks are desirous to procure charters, and to be only liable for double the amount of their shares. These repositories advance money to officers in the civil and military services, on the security of two persons, or other satisfactory pledge. Suppose an officer borrows 4,000 rupees at ten per cent., to be paid in two years, by instalments of so much per month. If he fail to do this, the Bank immediately calls upon the Securities. Thus the Securities sign a paper, to pay so much per month, should the borrower fail to do so! They generally agree, however, that the sum in question shall be deducted by the Paymaster; but in the event of the death of the borrower, before he has refunded the loan, and without having any property, the Securities are liable for the remaining balance, and have to pay the Bank.