Shoreditch, and Bethnal Green parishes, alone employ upwards of 7000 persons. In Clerkenwell, a like number are employed in watchmaking. Coach builders and harness makers are very numerous, and have brought their respective works to a higher degree of perfection and elegance than any in the world.

General Trade of London.

THIS may be divided into the wholesale and retail business: for these are different, and under different systems of management. The great number and variety of shops that are dispersed over the metropolis, the diversity, richness, and multiplicity of articles displayed for sale, and the great mass of persons immediately and collaterally dependent on, and intimately connected with the same, are calculated to excite the astonishment of foreigners, and of individuals who are not conversant with the subject. The wholesale trade is chiefly carried on in the city, and in the vicinity of the river, where large warehouses and counting-houses are established. The retail trade is dispersed through all the public streets; in which spacious and handsome shops are opened for the display of all the necessaries, as well as all the luxuries of life. The shopkeepers of London are mostly an active, industrious, and respectable class of society. Many of them are wealthy, and in advancing age retire with handsome property, to

enjoy the fruits of their labour. The regular, continued, and perpetual intercourse, which subsists between London and all parts of the kingdom, by coaches, waggons, barges, &c. constitute a marked feature in the concerns of this wonderful city.

PRINCIPAL COMPANIES CONNECTED WITH THE COMMERCE AND TRADE OF LONDON.

The Bank of England.

THE bank of England is the most important institution of the kind that exists in any part of the world: and history furnishes no example, that can at all be compared with it, for the range and multiplicity of its transactions, and for the vast influence which it possesses over public and national affairs.

Though banks are of considerable antiquity, it is only in modern times that their been extensively manifested.

power has

Between two and three centuries before the Christian era, a banker of Sicyon, a city of Pelo→ ponnesus, is mentioned by Plutarch in his Life of Aratus. His business appears to have consisted in exchanging one species of money for another. The money changers of Judea, who were driven out of the temple by Christ, were probably of the description mentioned in the parable of the talents; that is, such as made a

trade of receiving money in deposit, and paying interest for it.

From Judea the institution of banks was brought into Europe; and the Lombard Jews are said to have kept benches, or banks, in the mar ket places of Italy, for the exchange of money and bills.

In the 14th century, the business of banking was carried on by the drapers at Barcelona, in Spain, as it was in after ages by the goldsmiths in London: in both which cases, these respective traders were considered the most substantial among the citizens. The bank of Barcelona was established in 1401, by the magistrates, upon the security of the funds of the city.

The bank of Amsterdam, which became prover bial for extensive usefulness and unviolated faith, was founded by the magistrates and merchants of Holland in 1609: and after the credit of the foreign merchants had declined in England, or rather, after the spirit and enterprise of our own merchants had obtained for themselves those advantages which had been previously enjoyed by foreigners, the goldsmiths became the principal bankers in London, and more particularly so during the time of the civil wars, and until the revolution of 1688. Several schemes, however, had, in the intermediate time, been promulgated for a public bank, on a plan similar to that of the bank at Amsterdam. Yet it was not till the year 1694 that the public mind was sufficiently awak ened to the utility of such an establishment, and that legal provision was made to carry it into

effect. Great opposition was also excited by the monied men, and by others, alleging that it would engross the money stock, and riches of the kingdom, and eventually render the king absolute.

All difficulties, however, were at length overcome; and an act passed the legislature in 1694, empowering their majesties to incorporate the subscribers of the sum of 1,200,0007. on specific conditions, under the title of "The Governor and Company of the Bank of England." After the books were finally opened, the subscriptions for the whole sum of 1,200,000l. was completed in the course of ten days, and 25 per cent immediately advanced. The charter of incorporation was, in consequence, executed on the 27th of July, 1694. This charter directs, that the management of the bank shall be vested in a governor, deputygovernor, and twenty-four directors; thirteen, or more, to constitute a court, of which the governor or deputy-governor shall be always one. They are to have a perpetual succession, a common seal, and the other usual powers, as making by-laws, &c. of corporations, but must not borrow money under their common seal without the authority of parliament. They are not to trade, nor suffer any person in trust for them to trade in any goods or merchandise: but they may deal in bills of exchange, in buying and selling bullion, and foreign gold and silver coin, &c. &c. They may also lend money on pawns or pledges, and sell those which shall not be redeemed within three months after the time

agreed. But this has been little acted upon. No dividend is to be made but by consent of a general court, and that only out of the interest, profit, and produce, arising by such dealing as the act of parliament allows. The erection of this celebrated bank, according to the declaration of one of its first directors, not only relieved the ministry from their frequent processions into the city for borrowing money on the best and nearest public securities, at an interest of 10 or 12 per cent per annum, but likewise gave life and currency to double or triple the value of its capital in other branches of public credit.

Stock Exchange.

THIS building is situated at the upper end of Capel Court, opposite the east entrance to the bank. It was erected in the year 1804, by Mr. James Peacock, architect; and is very conveniently arranged, and handsomely fitted up. The expense was defrayed by a subscription among the principal stock brokers, of 501. transferable shares. No person is allowed to transact business here, except those who are ballotted for annually by a committee, and, on being chosen, subscribe ten guineas each. Under the clock, at the south end of the spacious room in which the subscribers assemble, is a tablet for the pur pose of exhibiting the names of such defaulters, as have not been able, or willing, to settle their losses on agreements made for the purchase or transfer of stock, and who are not again suffered