This account and the return of the Bank of England, it is true, unhappily appear on different days; but except for that accident our knowledge would be perfect; and as it is, for almost all purposes what we know is reasonably sufficient.

We can now calculate the course of the Government account nearly as well as it is possible to calculate it.
So far, as we have said, an analysis of the return of the Bank of England is very favourable to the Bank.

So great a reserve need not usually be kept against the Government account as if it were a common account.

We know the laws of its changes peculiarly well: we can tell when its principal changes will happen with great accuracy; and we know that at such changes most of what is paid away by the Government is only paid to other depositors at the Bank, and that it win really stay at the Bank, though under another name.

If we look to the private deposits of the Bank of England, at first sight we may think that the result is the same.