the hands of extortioners, lower interests, raise the value of land, revive public credit, improve commerce, and connect the people more closely with the Government, while those of the contrary opinion assured the House that I should engross the whole money of the kingdom, that I should weaken commerce by tempting people to withdraw their money from trade, that I should encourage fraud and gaming, and corrupt the morals of the nation.

Little recked I of all the stir and commotion my birth was causing, as, nursed and cared for by my father, William Paterson, a Scotch merchant, and his friend, Mr. Michael Godfrey, I gradually grew into strength. It was not till long afterwards that I heard and understood the circumstances of my birth, and how around me were centred the interests of the kingdom.

When I was only twelve months old, those who were bound together to take care of my interests separated my father from me, giving as an excuse that he was of too speculative and adventurous a spirit to be entrusted with my welfare.

Poor father! It has always seemed to me very sad that he who had worked so long and so persistently for my success should have been condemned to spend the last years of his life in solitude and neglect in Scotland, while I, his child, was gradually becoming everything that his highest ambition could have pictured; but so it was.

THE OLD LADY OF THREADNEEDLE STREET. From "Punch."

I have often wished that he had employed those last weary years of his in writing a history of his life. I am sure it would have interested all classes of readers, but I suppose he was too sad and out of heart. He was forty-one years of age at the time of my birth, having been born in Dumfries in 1658. He was one of those who may be said to live before their time. He possessed great ability, knowledge, and experience, and was a great traveller, yet, with all this, his life was a series of disappointments and failures.

His great friend, Michael Godfrey, who had worked so faithfully by his side, would, I am sure, never have forsaken him, but he was struck down by a ball in the trenches of Namur, in 1695, while seeking the king in my interests.

He was a great loss to me, although I was too young at the time to estimate it fully. He has left behind him a quaint and graphic account of my infancy, with which I shall hope to make you acquainted later on.

Should you feel any interest in him, look in St. Swithin's Church some day when passing, and there you will find a monument to his memory, which records that he "died a batchelour, much lamented by his friends, relations, and acquaintances for his integrity, his knowledge, and the sweetness of his manners."

My name "Bank," which signifies "bench" or "high seat," I derived from Italian forefathers, who, in early days, carried on their business in the public places or exchanges on benches.

This business of theirs consisted chiefly in being the depositories of the wealth of rich people, and making payments for them according to written orders, and further in receiving money from some people on interest, and lending it to others at a higher rate. I have been told that in their day making a profit by lending money was not considered at all an aristocratic proceeding, and procured for those who indulged in it the name of usurers, a word I do not like; it savours of sordidness.

From my very birth I was educated to be reliable, steady, secure, and faithful, and to be true and just in all my dealings.

It was made clear to me that it was the lack of these qualities in the money affairs of the kingdom which had led to the necessity of my existence, and I was made distinctly to understand that it was only upon my developing largely these peculiar traits of character that I should continue the existence thus begun.

My education was quite different from that of other girls. I had to learn arithmetic almost before I could speak, and the state and condition of kings and governments were instilled into my mind as regularly as food into my body.

There were no novels, no light literature for me, except what I could extract for myself out of the dry material placed before me. Still, my mind was not warped with this peculiar bringing up, and now that I am an old woman, I think I can see that I owe this to the character of those who governed and directed me.

Of course, this peculiar education and training kept me far ahead of other girls, and while they were scarcely out of the nursery, and still enjoying battledore and shuttlecock, I was seeking information, either by reading or conversation, concerning my forefathers, position, duties, and property.

Young as I was, I began to feel creeping over me a sense of responsibility, and a longing to know how best to fulfil all that was required of me. I knew that I was rich, but how did I become so? I knew that my riches were expected to make others rich, but how? I was always asking questions, and sometimes succeeded in getting an answer, which served as a clue, and sent me to search old parchments or to make comparisons.

It was some time before I could piece the scraps of information together, but gradually I did so, and then assuredly I saw the awfulness of my influence and position, and determined, with God's blessing, to be a comfort and support to the widows and orphans who trusted in me, as well as a source of strength, security, and honour to the nation and its rulers, and I resolved that henceforth my name, the Bank of England, should carry with it a meaning wherever it was heard, far beyond its original signification; it should be another term for wealth, honour, and thrift—a something to be trusted, and in which nothing foul, mean, or sordid must be found.

(To be continued.)

HISTORICAL SKETCHES OF MUSICAL FORMS.

Sketch I.—The Oratorio and Passion Music (Sacred Drama).

By MYLES B. FOSTER, Organist of the Foundling Hospital.

n a former number, in prefacing reviews of new music, we said sufficient upon the subject of listening to music to call the attention of our many readers to the performances going on so frequently in all parts of the world, and now we persuade ourselves that there may be some to whom a short account of the various and varied forms, to which our attention as audience is most frequently invited, would be of interest, even though they have some knowledge of the subject already; and that there may be others to whom these very incomplete sketches may appear as information, and as an incentive to further investigation.

For our first sketch we have chosen the oratorio, for it is undoubtedly the highest form of musical dramatic art, and is founded upon and contains the greatest and deepest truths of the Christian life. As regards the actual music forms employed, we find, indeed, similar ones in the operas, such as the various forms of recitative, the aria, the duet, and the chorus, and even the scena; but in the sacred works, who are the heroes and heroines? Are they not the instruments of the Divine power, the messengers of the good tidings? And what are the subjects? Are they not the struggles, the trials, the victories of noble souls? With such sacred characters, with such lofty thoughts, the composers of the oratorio, dealing, not with the semblance of truth that the opera