Proprietors' | Government Capital 14,553,000 | Securities 15,826,080 | Rest 3,816,736 | Other Securities 31,837,516 | Public Deposits | Notes 21,391,145 | (Including Exchequer, | Gold and Silver Savings' Bank, Commissioners | Coin 2,225,084 of National | Debt, and Dividend | accounts) 10,025,973 | | Other Deposits 42,695,526 | | Seven-day and | other Bills 188,590 | ------------- | ------------- £71,279,825 | £71,279,825 ============= | ============= A glance at the right hand side of the statement relating to the Issue Department tells us that every note, either in the hands of the public or held in reserve in the Banking Department, is covered by securities and specie deposited in the Issue Department. The amount of the notes in circulation is, of course, obtained by deducting the notes in hand in the Banking Department from the total amount of Notes Issued on the left-hand side of the Issue Department. The difference, £30,401,185, is called the "circulation," and represents the sum which the Bank of England had borrowed from the public on its notes on the 1st October last. Each department is distinct, and has, in fact, a separate existence; so if the Banking Department requires gold, it must, like an ordinary individual, exchange some of its notes in hand at the Issue Department, obtaining therefrom the additional coin to satisfy the demands of its customers in the Banking Department.