advance, in cash, quite equal to the entire
value of the goods. The rule had been, to
advance no more than two-thirds of the prime
cost; but by an ingenious process, known as
"salting the invoice," the articles were made
to appear as worth fifty per cent. beyond
their real value. Thus the enterprising firm
recovered on the spot all they had paid for
their shipments.

Moreover, Messrs. Hookey, Walker, and
Company were largely interested in Indigo
Factories; that is to say, they possessed
several extensive estates producing that
article. The firm, finding how well the system
worked with their shipments, determined to
launch out in planting matters. One of the
partners being a director of the Bank, there
was no difficulty in obtaining "accommodation;"
in other words, a loan of a few lacs,
(a lac is only ten thousand pounds) to
enable these enterprising merchants to
extend their operations, which they
accordingly did in the most approved fashion.
Among many other transactions of that
time may be instanced the sale, by this
same firm, of an indigo factory in the
interior, at a rather heavy figure. Payment
was made in bank post bills of the other
Hooghly establishment—the "Junction Bank"
paper—which was then fully thirty per cent.
below par. Our friends, Hookey, Walker,
and Company, took these bills to the
Chowsempoor Bank, who, not wishing to refuse
good customers, obligingly cashed the paper
at its full original value.

To any ordinary mind this would appear a
somewhat losing game. But, oh dear! no;
the Manager of the " Chowsempoor " was too
clever for that, and soon backed out of the
difficulty. An "advance " happened to be
wanted by a customer, on a rather shaky sugar
concern; and the hawk-eyed, clear-headed man
of business consented to make the loan, on
condition that it was taken in the unfortunate
bank post bills, valued at par. It is true this
sugar estate turned out a very sorry affair,
indeed; and it was soon after evident that
unless the Bank assisted the proprietor with a
further loan of rupees to keep it in good
cultivation, the property would go to utter ruin,
and the directors would find their first advance
scattered to the winds. That mattered little;
further aid was granted; the owner was still
embarrassed; and it ended in the factory
reverting to the Bank as their own
property, whilst the directors and managers
chuckled at the increasing extent of their
operations.

But, the benevolent Bank did not shower
its golden favours on commercial men alone.
It was particularly indiscriminate in its
generosity. The directors, doubtless, bending
under the weight of gold mohurs and
Company's rupees, smiled complacently on all
mankind, and appeared, by their distribution of
worldly riches, to be imbued with
Communist principles. The young cadet, basking
in the sunshine of college life, crippled
and fettered by his paltry allowance from
the Honourable Company, of four hundred
rupees a-month, besought the friendly offices
of this truly charitable institution; and
not in vain, for one of the directors was his
uncle's most intimate friend. A few strokes
of the pen, and the embryo civilian possessed
the means of driving his tandem, drinking
Champagne at tiffin, giving crack parties,
frequenting the gaming-table; in short, of
qualifying himself for a perfect model Hooghly
Bund Sahib.

So long as the gold and silver stream swept
gaily and smoothly over the land, all went well.
Trade flourished and traders prospered.
Employment was good, and prices rose enormously.
Imported goods were consumed in huge
quantities, at lavish rates. Exports swelled to an
unusual amount; ships were no sooner in the
river and unloaded, than they were freighted
with costly goods for Europe. The collectors
of revenue were faint with the effort of receiving
so many taxes: the treasury of " John
Company " was well nigh bursting open its massive
doors, so vast were the piles of glittering coin,
within. Indeed all allowed that there never
had been seen such a prosperous time
within the memory of the oldest civilian.
The public prints were loud in their exultations,
and their praises of the judicious
management of the Banks. They pointed
with exultation to the enormously increased
trade of the country, and gave all honour
to those noble and useful institutions, which
thus fostered the commerce of, and added
fresh lustre to, the brightest gem in the
crown of Britain!

This state of things was not destined to last
for ever. Some evil genius, envious of the
Chowsempoor career, stepped in and spoilt
the pleasant game. Time rolled on; half-
yearly meetings of shareholders were held, and
most cheering prospects were developed by
eloquent directors in sanguine speeches, and
attested by kind auditors in glowing accounts.
Easy, however, as it was to cook up pleasant
reports, it became somewhat less easy to
continue providing the usual dividend of twelve
per cent. per annum. Accordingly, after a
little delay, the twelve was reduced to six, and
proprietors were told to thank their stars it
was not four.

A change came o'er the doings in the East.
Heavy shipments outward and homeward
overstocked both markets; prices fell
seriously; and, as every one wanted to sell, no
one wanted to buy, and of course matters
did not improve. Some merchants were so
pressed by heavy losses, that they actually
ventured to sell out Chowsempoor stock,
The effect of this upon the market was not
long in being felt; for fear is contagious, like
many other complaints; and the fashion of
converting scrip into real rupees, soon
became prevalent, much to the mortification
of directors and managers. It was found