Annual report 2011

The last increase in the capital of the Bank took place at the renew- ing of the charter, in 1781. It was then raised to 11,642,400, or about fifty-six millions of dollars, at which amount it has ever since remained. The whole of this capital is lent to the government, and so its capital ever has been since the Bank commenced business. Of course, the whole of that business is carried on by means of its notes. That business is of four kinds. First, the Bank manages the public debt, and pays the inter- est as it falls due, being supplied by the government with the.