FINANCE. London is still the chief money centre of the world. The business of the great hankers is on Lombard Street anti in its neigh borhood. The centre of the banking business of the country is the Bank of England, the chief bank of deposit and circulation in Europe, housed in a plain, low building, covering four acres, and almost devoid of ornamentation except at the northwest corner, which was copied from a Roman temple. A detailed account of this institution will be found in the article BANK, BANKING. The private and joint-stock banks number nearly 200, most of which are members of the Clearing 1 1 ouse, where a daily exchange of drafts and checks is effected. The 3000 members of the Stock Ex change, near the Bank of England. buy and sell all the stocks and shares which are sanctioned by the governing committee.
The enormous accumulation of capital in the chief cities of the Kingdom results in great eager ness to find favorable opportunities for invest ment. Surplus funds tend naturally to London,
where there is a constant demand for money to float enterprises in all parts of the world. It is to London that colonial projects. railroad and harbor development schemes, wildcat undertak ings, and countless other enterprises, legitimate and illegitimate, from all quarters, look for the necessary funds. Many agents of London money lenders and companies are scattered all over the world, looking for new fields for exploitation or inquiring into the merits of numerous enterprises that are seeking financial assistance. Informa tion as to the prospects for safe investment in all parts of the world is constantly flowing into London. The money centres of other European countries have their agents in London, and keep closely in touch with this unequaled centre of finance.