Every new movement gropes its way out of the darkness into the light. The process is, however, a slow one; and if, in the future, there are new problems to be solved, then future generations will have to learn the laws affecting them in the school of experience. Despite their increased knowledge, they will probably make the same mistakes as those recorded in these chapters, for it is astonishing, as our environment changes, how short a distance we can see in front of our noses. Banking in 1950 will in all probability be very different to banking in 1902--especially if population increases at its present rate all the world over. CHAPTER III. The Bank's Weekly Return. For the nonce we have finished with history, and will turn our attention to the Bank of England as it now stands in the centre of the Money Market. The joint stock banks publish their balance sheets either annually or half-yearly; but the Bank of England, in compliance with the Act, compiles a weekly statement to the close of business each Wednesday. This Return or Balance Sheet is submitted to the directors on the following day, and, when passed by them, is exhibited on the wall of the Bank to an expectant crowd of messengers and officials, whose business it is either to criticise or copy it. But by far the greater number of the persons there assembled merely wish to know whether any alteration has been made by the directors in the Bank's discount rate, and, that ascertained, the crowd rapidly thins. The following is a copy of the Return or Balance Sheet for the week ended Wednesday, 1st October, 1902:-- ISSUE DEPARTMENT. £ | £ | Notes Issued 51,792,330 | Government | Debt 11,015,100 | | Other Securities 7,159,900 | | Gold Coin and | Bullion 33,617,330 ------------- | ------------- £51,792,330 | £51,792,330 ============= | ============= BANKING DEPARTMENT. Liabilities. | Assets. | £ | £