BAN

BAN

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fallacy of which it would not be easy to demonstrate. There isanother kind of banks, which are instituted wholly upon the pub-lic account, and are called Hanks of Deposit. Their nature isnot generally understood ; but their object is to reform the cur-rency which may at any time be worn, dipped, or otherwise re-duced below its standard value. Such were the banks of Venice,Genoa, Amsterdam , Hamburgh, &c. when originally established;the last, in particular, being always obliged to pay in good money,according to the standard of the State. As ihe cash of suchbanks was more valuable than the common currency of the coun-try, it necessarily bore an agio, or an additional per tentage, inproportion as tire currency was supposed to be more or less de-preciated. Thus the agio of the bank of Hamburgh, which issaid to vary from fourteen to twenty per cent, constitutes thesupposed difference between the standard money of the State,and the dipt, worn, and debased currency poured in from theneighbouring countries.

15an-k, in natural history, denotes an elevation of the ground,or bottom of the sea, so as sometimes to surmount the surface ofthe water, or, at least, to leave the water so shallow, as usuallynot to allow a vessel to remain afloat over it. In this sense, bankamounts to much the same with flat, shoal, 3cc. Then- are banksof sand, and others of stone, called also shelves or rocks. A longnarrow bank is sometimes denominated a list. The bank, socalled bv way of eminence, or the main bank, or great bank,denotes that of Newfoundland , the scene of the cod-lhhery. Itis called the great bank, not only by reason of its vast extent,being, according to the English computation, 200 miles long,and, according to the lTeueti, 100 leagues, or 300 miles; butalso on account of several lesser banks near it, where cod are alsocaught. Banks , on the sea-coast, are usually marked by beacons,or buoys, and in charts they are distinguished bv little dots, asridges of rocks arc b v crosses. An exact knowledge of the hanks,their extent, and the depth of water on them, makes a most es-sential part of the science of a pilot, and master of a ship: if thevet-sel be large, and draw much water, great attention will be ne-cessary to keep clear of the banks ; on the contrary, if it be small,the same banks afford a sure asvlum, where it mav brave thelargest and stoutest vessels, which dare not follow it here, . Bymeans of this ban ier many small craft have escaped their enemies.

Bank, in vessels which go with oars, is Used for the benchwlu-re the rowers are seated ; popularly railed by our seamen thetluilight, in this sense we read of banks of gallics, of galcassos, ofgalliots, of brigantines, and the like.

BAX lx Elf, a person who traffics and negotiates in money, whoreceives and remits money from place to place, by commission[lorn correspondents, or by means of bills or letters of exchange.

Hankers, in antiquity, were called argentarii, and lniminu-larii; by the Greeks and resyuntfusi^ei. Their

chief business was to put out the money of private persons to in-terest: they had their boards and benches, for this purpose, inail Lhe market: and public places, where they took in the moneyt'rom some, to lend it to others.

Banker, in bricklaying, a piece of timber, six or eight feetlong, and eight or nine indies square, oil which they cut thebricks.

Bankers, in the seamen’s language, vessels employed in thecod-lisherv on the Hanks of Newfoundland .

BANKING, in architecture, tile making of banks to opposethe force of the sea, rivers, or the like, and secure the laud lrombeing overflowed thereby.

BANKIS11, a province of the Mogul’s dominions, S. V. ofthe province of ('a-simi re.

BANK. KEPT is compounded of Imncus and ruptus, and isso called, because the per-on’s bank or stock is broken or exhaust-ed. The French word, baiiqucroittc, signifies a breaking orfailing in the World ; from the several descriptions of a bankruptgiven in onr statute law, he may be defined “ a trader, who-.envies himself, or do-s certain other acts tending to defraud1-is creditor'.” The present laws of bankruptcy are calculatedtor the benefit of trade, and founded on the principles of huma-nity and. justice ; and to that end they confer some privileges,not only on the creditors, but also on the bankrupt or debtorhjnsclf. On the creditors; by compelling the bankrupt to givi-ng all his eliects to their use, without guv fraudulent conceal-ment : on the debtor, by exempting him trout the rigour of tin-

general law, whereby his person might be confined at the discre-tion of his creditor, though in reality he has nothing to satisfy the.debt ; whereas the law of bankrupts, taking into considerationthe sudden and unavoidable accidents to which men in tradeare liable, has given them the liberty of their persons, and somepecuniary emoluments, upon condition they surrender up tk-.-irwhole estate to be divided among tiieir creditors. But still theyare cautious of encouraging prodigality and extravagance by thisindulgence to debtors: and therefore they allow the benefit otthe law s of bankruptcy to none but actual traders ; since thatset of men are, generally speaking, the only persons liable toaccidental losses, and to an inability of paying their debts, withoutany fault of their own. If persons in other situations of life runin debt without the power of payment, they must take the conse-quences of their own indiscretion, even though they meet withsudden accidents that may reduce their fortunes: for the law holdsit tube an unjustifiable practice, for any peison but a trailer toencumber himself with debts of any considerable value. Accord-ing to the statutes of this country a man makes himself a bank-rupt bv, 1. Departing from the realm, whereby a man with-draws himself from the jurisdiction and coercion of the law, withan intent to defraud ‘his creditors. 2. Departing lrom his ow nhouse, with intent to secrete himself anil avoid his creditors.3. Keeping in his own house, privately (except for just and ne-cessary cause,) so as not to be seen or spoken with by his credi-tors ; which is likewise construed to he an intention to defraudhis creditors, bv avoiding the process ot the law. 4. Procuringor sull’ering himself w illingly to he arrested, or outlawed, or im-prisoned, without just and lawful cause; which is likewisedeemed an attempt to defraud his creditors. 5. Procuring hismoney, goods, chattels, and eliects, to be attached or seques-trated bv anv legal process ; which is another plain and directendeavour to disappoint his creditors of their security. 0. Mak-ing any fraudulent conveyance to a friend, or secret trustee, ofhis lands, tcnenmuts, goods, or chattels : which is an act ofthe same suspicious nature with the last. 7. Procuring any pro-tection, not being himself privileged bv parliament, in order toscreen bis person from arrests; which also is an endeavour toelude the ju-tice of law. 8. Endeavouring, or desiring, by anypetition to the king, or trill exhibited in any of the king’s courtsagainst anv creditors, to compel them to take less than theirjust debts ; or to procrastinate the time of payment, originallycontracted for; which arc an acknowledgment of either hispoverty or his knavery. 9- Eying in prison for two months, ormore, upon arrest or other detention for debt, without findingtrail, in order to obtain his liberty, l'or the inability to procurebail argues a strong deficiency in his credit, owing cither to hissuspected poverty, or • ill character ; and his neglect to doit, ifable, can arise imly from a fraudulent intention: in either ofwhich cases, it is high time for the creditors to look to themselvesand compel a distribution of his effects. 10. Escaping from pri-son after an arrest lor a just debt of 100/. or upwards. For no manwould break prison, that was able and desirous to procure bail ;w hich brings it within the reason of the last ease. 1 1. Neglectingto make satisfaction for any ju-t. debt to the amount of onehundred pounds within two months afttr service of legal proce-sfor sueli debt, on any trader having privilege of parliament. SirJohn Holt lie-id, that a man’s removing his goods privately topre-vent their being seized in execution, was no act of bankruptcy.For the statutes mention only fraudulent gifts to third person's,and procuring them to be seized by sham process, in order todefraud creditors ; but this, though a palpable fraud, \ et, fallingw ithin neither of those eases, cannot he adjudged an act of bank-ruptcy. So also it has been determined expressly, that a banker’sslopping or refusing payment is no act of bankruptcy ; for it isnot within the description of any of the statute- ; and there mayhe good reasons for his so doing, as suspicion of forgery, anil thelike ; and if, in con-tqtieiice of -ueh refusal, lie is arrested, andputs in bail, still it is no act of bankruptcy ; hut it he goes to pri-son, and lies there two month-, then, and not be!on-, is lie lie-come a bankrupt. Asto the eon-equences resulting lrom bank-ruptcy, sec Commission of Baxkrvi-tcv.

BAN K Ul'I’TCY, the failure, ab-eoivlintr, and relinquishing oftraffic in a merchant, a banker, or any other trader.

BANKSIA, a genus of the t.ionogynia order, and tetramlriaekes of plants. It is so called in honour ot Sir .'o eph Banks. Aineii-f turn,