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Authentic Particulars of ABRAHAM NEWLAND, ESQ. with

the Origin of the Bank of England, &c.

"Blefs'd paper credit! last and best supply!
"That lends corruption higher wings to fly!
"Gold imp'd by thee can compass harder things,
"Can pocket ftates, can fetch or carry kings;
"A fingle leaf fhall waft an army o`er,
"Or fhip off fenates to fome diftant shore :

"A leaf, like Sibyl's, fcatter to and fro

Our fates and fortunes, as the winds fhall blow;

"Pregnant with thousands, flits the scrap unseen,
**And filent fells a king, or buys a queen.”

POPE.

THE wonderful influence which the fignature of Abraham Newland's name has on the fpirits of all Englifhmen, juftly renders the character a proper fubject for enquiry in our Museum, particularly as it is no fictitious name, like that of John Doe, or Richard Roe, but is bonâ fide, a perfon belonging to the Bank of England.

His father, Mr. Newland, was a baker, who lived in King-ftreet, Southwark, and at whofe houfe this gentleman was born about the year 1730. Having had a good edu cation, he was recommended as a clerk to the Bank of England, where he was received Feb. 27, 1748, at the age of eighteen, fo that now he has been in the Bank upwards of fifty-four years. Such was his indefatigable attention to business, and remarkable activity, that he continued gradually to rife in his employment, and was at length appointed to fucceed Mr. Giles as the chief cashier of this first and most respectable house in Europe. Having been fo long fixed to one ftation, his life is confequently unfurnished with incident; his name, however, (as it gives currency to a Bank-note) is become familiar throughout every part of Great Britain, as well as in every part of the known world; and has been the subject of a fong, written

by

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HIS REGULARITY IN BUSINESS, &c.

327

by Mr. T. Dibdin, author of the Cabinet, &c. and fung at Sadler's-Wells, which, inftead of being taken as a compliment, was looked upon as an indignity by Mr. New land, and his particular friends, though we doubt not but the fong was intended as neither.

This gentleman's mode of tranfa&ting bufinefs is quite methodical; he is frequently feen about the Bank with a pen in his ear, and a large quantity of Bank-notes in his hand. In the morning, about a quarter after nine o'clock he is feen conftantly at his defk, and never quits business until three in the afternoon. During these forty years, he has never been once abfent from his duty, except a few weeks, when he was confined by illness.

The multiplicity of business does not render him, like other characters, inattentive to the graces; his decorum, as well as his industry, is worthy of imitation. He is polite in his manners, and genteel in his person.

During the late voluntary contributions in 1798, he was fo particularly exact in conforming to the inftructions of the Directors, and the provifoes of the Act of Parliament, that he unintentionally offended fome of the subscribers, and in confequence of this, fome illiberal paragraphs appeared in the newspapers: we fay illiberal, as this gentleman had generously contributed 2001. though he had been represented as an enemy to the subscription.

As this gentleman's name is fo current, it is imagined by fome that he must be very rich. His long fervices and œconomy have certainly rendered him independent: by men tioning economy, we do not mean to infinuate that he is by any means avaricious; on the contrary, he readily advanced a fum of money for rebuilding the church of St. Peter le Poor in Broad Street, at the ufual intereft, whereas at that time he could have rendered his money doubly productive: but he is so far œconomical, as not to neglect business for

pleafure's

pleasure's fake. His greatest indulgence for these many years paft, is a daily vifit to his house at Highbury Place in his own coach, which he has fet up thefe few years: where he drinks tea, but returns home the fame evening. He lives in the Bank, where he has very fuitable apartments next to his office.

This gentleman in his focial hours is a very cheerful and agreeable companion. He can take his glass with a friend, but it is in great moderation; and there is no man in the world enjoys a joke or a good story more than Abraham Newland. He has never been married, though it was ob served by an arch wag in the Chapter Coffee-house, when the one and two pound Bank notes came out, that for a Batchelor, he had more little ones than any married man in the kingdom.

We shall now conclude this fketch, with fome remarks on the origin of the Bank of England.

The Bank of England was first established in the year 1694, partly for the convenience of commerce, and partly alfo for the emolument of the proprietors. The scheme was projected by Mr. W. Paterson, a merchant, and de bated for a long while in the privy-council, till at length by an act of 5 and 6 William and Mary, cap. 20, it was enacted, that their Majefties might grant a commiffion to take particular subscriptions for 1,200,000l. of any persons, natives or foreigners, whom their Majesties were hereby empowered to incorporate, with a yearly allow. ance of 100,000l. viz. 96,000l. or 8 per cent. for interest, till redeemed, and 4000l. to be allowed the intended bank for management. The Corporation was to have the name of" The Governor and Company of the Bank of England;" their faid fund to be redeemable upon a year's notice after the 1st of Auguft, 1705, on payment of the principal, and then the corporation to cease.

The

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