1165. Is that from a feeling that it is rather dangerous under particular circumstances?--I cannot admit as to its being dangerous, but there can be no doubt of this, that there is a notion in the public mind which we ought not to contend against, that when you offer a high rate of interest for money, you rather do it because you want the person's money, than because you are obeying the market rate; and I think it is desirable that we should show that if persons wish to employ their money, and want an excessive rate, they may take it away and employ it themselves. 1166. You think that there is now a general understanding amongst the banks which you have mentioned, to act upon a different principle from that on which they acted during last October and November?--I think I may say that I know that to be the case. 1167. Was not it the fact that this system of giving so high a rate of interest upon money at call commenced very much with the establishment of some banks during the last year or two, which, instead of demanding 10 days' or a month's notice, were willing to allow interest upon only three days' notice; did not that system begin about two years ago?--I do not think it began with the new banks; I think it began with one of the older banks; I know that as regards my own bank, that we were forced into it; I forgot to say, that with regard to ourselves in taking money on deposit, the parties must leave the money a month, or they lose interest. We do not take money from any depositor at interest unless upon the understanding and condition that it remains a month with us; he may withdraw it within the month, but then he forfeits interest; it will not carry interest unless it is with us a month, and then it is removable on demand without notice. 1168. Is it or is it not a fact that some of the banks pay interest upon their current accounts?--Yes, I think most of the new banks do so; and the Union Bank of London does it. 1169. At a smaller rate than upon their deposits, I presume?--I think at a smaller rate, but I believe it is a fixed rate on the minimum balance for some period, either six months or one month, I do not exactly know the period. I think I ought to add (and I believe it is the case with all the banks) that the London and Westminster Bank, from the day of its first institution until the present day, has never re-discounted a bill. No bill has ever left our bank unless it has been for payment. 1170. Is not that generally the case with the London joint stock banks?--I believe it is the case. 1171. [Mr. Weguelin.] But you sometimes lend money upon bills deposited with you by bill-brokers?--Yes. 1172. And you occasionally call in that money and re-deliver those securities?--Yes; but that we do to a very small extent.