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DEFINITIONS.

THE definitions of the words Bank, Banker, and Banking, in Worcester's Dictionary, are too deficient in precision to be of any use for legal purposes. Those given by Webster are, likewise, certainly open to criticism; but as they are the best there are, we give the pertinent portions of them, as follows:

"Bank.-4. By analogy. A collection or stock of money, deposited by a number of persons, for a particular use; that is, an aggregate of particulars, or a fund; as to establish a bank, that is a joint fund."

"6. A company of persons concerned in a bank, whether a private association or an incorporated company; the stockholders of a bank or their representatives, the directors acting in their corporate capacity."

"Banker. One who keeps a bank; one who traffics in money, receives and remits money, negotiates bills of exchange, &c."

"Banking. The business or employment of a banker; the business of establishing a common fund for lending money, discounting notes, issuing bills, receiving deposits, collecting the money or notes deposited, negotiating bills of exchange, &c."

Of these definitions the second is both the least satisfactory and the most important. For the question will often arise, in reference especially to taxation, whether or not a person or firm doing business on his or their own account, and not as a corporation or association, is a banker or a banking firm. Clearly the fact of "trafficking in money" does not suffice to convey this legal character. Otherwise every pawnbroker might assume the dignified title of banker.

Our own view of the subject is supported by no direct adjudications placing any technical construction upon the term, but is obtained from a general consideration of the topic of the law and business of banking. To render an individual a banker, then, the following facts should combine:

L. He must receive on general deposit the money of other persons, which he must mingle together or with his own money, and use the aggregate as a genera fund, subject to his own sole control.

II. This general and concrete fund he must use for the prosecution of some of the functions of the banking business. If he simply uses it in making what are properly called investments, which from time to time he changes, as he deems advisable, he rather resembles a trustee (or possibly a speculator) than a banker. But if he uses it for the prosecution of any description of banking

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