Excerpt from The Currency and Banking System of England: And the Sister Kingdoms The merit of the Scotch system is, that in con sequence of the laws of property it affords a much superior security from the individual estates of the partners, beyond the bank capital, to that which the law of England does but in Scotland also the evil distinction betwixt subscribed and paid up capital has obtained in the constitution of some of its banking establishments; and it is at present proposed that a large and apparently sufficient capital should not only be subscribed. But actually be fully paid up and as this cannot be done to the extent required in money, it is proposed that it should be done in land or other property, by the simple means of proof of property, and public en rolment and register, provided for in the latter part of this first enactment, and as regulated by the second and third enactments. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.