Sketches in the Bank of England [in the City of London]: burning returned bank-notes, 1872. 'The bank-notes once issued as they find their way back to the Bank, are cancelled and withdrawn from circulation, while fresh notes are created to supply their place. At certain periods the old notes are destroyed by burning, which process is the subject of our Illustration. The accounts of the Banking Department, with reference to the receipt of money deposited by the Government or private customers, the business of the National Debt, and the discounting of bills, are kept entirely separate from the Issue Department, which concerns only the maintenance of the paper currency. It is for the safety of this last-mentioned department that the store of bullion is provided to be kept in the Bank'. From "Illustrated London News", 1872.
World Europe United Kingdom England Greater London London City of London
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