92 OLD AND NEW EDINBURGH. [The Mound.
design, which shall consist of two departments : the
m e appropriated to the remains of ancient sculpture,
and the other to the study of living models.
From that time matters went on peacefully and
pleasantly till 1844, when 8 dispute about entrance
to their galleries ensued with the subordinates of
the Board of Manufactures, in whose building they
were-a dispute ultimately smoothed over. In
1847 another ensued between the directors of the
Royal Institution and the Academy, which led to
some acritnonious correspondence ; but all piques
and jealousies between the Academy and the Royal
Institution were ended by the erection of the Art
Galleries, founded in 1850.
Six months before that event Sir William Allan,
the second president, died on the 2 2nd of February,
after occupying the presidential chair for thirteen
years with much ability. It is to be regretted that
no such good example of his genius as his ?? Death
of Rizzio? finds a place in the Scottish National
Gallery, his principal work there being his large
unfinished picture of the ?? Battle of Bannockburn,?
a patriotic labour of love, showing few of the best
qualities of his master-hand, as it was painted
literally when he was dying. ?TO those who were
with Sir William in his latter days it was sadly
interesting to see him wrapped up in blankets,
cowering by his easel, with this great canvas
stretched out before him, labouring on it assiduously,
it may be truly said, till the day on which he
died,? writes a brother artist, who has since
followed him. ? The constant and only companion
uf his studio, a long-haired, glossy Skye terrier, on
his master?s death, refused to be comforted, to eat,
.or to live.?
His successor was Sir John Watson, who added
the name of Gordon to his own. He was the son of
Captain JamesWatson, RN., who served in Admiral
Digby?s squadron during the first American war,
Among his earlier works were the ? Shipwrecked
Sailor,? ? Queen Margaret and the Robber,? ?A
Boy with a Rabbit,? ?The Sleeping Boy and
Watching Girl? (his own brother and sister); but it
was as a painter of portraits strictly that he made
his high reputation; though it is said that the
veteran, his father, when looking at the ? Venus and
Adonis ? of Paul Veronese, declared it ? hard as
flints,? adding, ?I wouldn?t give my Johnny?s
? Shipwrecked Sailor? for a shipload of such.?
In early life he lived with his father in 27 Anne
Street, which he left regularly every morning at
nine o?clock, ?and walking down the beautidul
and picturesque footpath that skirted the bank
af the Water of Leith, he passed St. Bernard?s,
where almost invariably he was joined by the
portly figure of Sir Henry Raeburn. Engaged in
conversation, no doubt beneficial to the younger
but rising artist, they proceeded to Edinburgh-
Raeburn to his gallery and painting-room, No. 32
York Place, and John Watson to his apartments
in the first flat of No. 19 South St. David Street,
or, latterly, 24 South Frederick Street.??
During his presidency the Art Galleries were
completed and opened. By the Act 13 and 14
Vict., cap. 86, the entire building and property were
vested in the Board of Manufactures, as well as the
appropriation of the buildings when completed,
subject to the approbation of the Treasury, without
the sanction of which no fee for admittance
was to be charged on any occasion, except to the
annual exhibition of the Royal Scottish Academy.
?The general custody and maintenance of the
whole building shall be vested in the Board of
Manufactures,?? says the Government minute of
28th February, 1858 ; ?but the Royal Scottish
Academy shall have the entire charge of the councilroom
and library and of the exhibition galleries
during their annual exhibitions.?
After continuing in the exercise of his profession
until within a few weeks of his death, Sir John
Watson died at his house in George Street, 1st
June, 1864, in his seventy-sixth year, having been
born in 1788.
He was succeeded as president and trustee by
Sir George Harvey, born in Stirlingshire in 1805,
and well known as a painter successfully of historical
subjects and fabZeaux de genre, many of them
connected with the stirring events of the Covenant
He became a Scottish Academician in 1829, since
when his popularity spread far and wide by the
dissemination of numerous engravings from his
works. He was president only twelve years, and
died at Edinburgh on the zznd of January, 1876, in
his seventy-first year.
He was succeeded by Sir Daniel Macnee, R.S.A.,
who was also born in Stirlingshire in 1806, and
began early to study at the Trustees? Academy with
Duncan, Lauder, Scott, and other artists of native
repute. He rapidly became a favourite portrait
painter in both countries, and his famous portrait
of the Rev. Dr. Wardlaw won a gold medal at the
Paris International Exhibition of 1855. He has
painted many of the most prominent men of the
time, among them Lord Brougham for the College
of Justice at Edinburgh.
In connection with Scottish art we may here
refer to the Spalding Fund, of which the directors
of the Royal Institution were constituted trustees
by the will of Peter Spalding, who died in 1826,
leaving property, ? the interest or annual proceeds
THE BANK OF SCOTLAND. 93 The Mound. J
whereof are to be applied for ever for the support of
decayed and superannuated artists.? This property
consisted mainly of ancient houses, situated in the
old town, the free proceeds ofwhich were only~220.
It was sold, and the whole value of it, amounting
to Lt;5,420 IOS., invested in Bank of Scotland and
Eritish Linen Company Stock, and has been s6
carefully husbanded that the directors now possess
stock to the value of more than A6,618. ?It was
originally given in annuities varying from A;5o to
LIOO a year; but the directors some years ago
thought it advisable to restrict the amount of these,
so as to extend the benefit of the fund over a
larger number of annuitants, and they now do
not give annuities to a Iarger amount than if35,
and they require that the applications for these
shall in all cases be accompanied by a recommendation
from two members of the Royal Scottish
Academy who know the circumstances of the
applicant?
CHAPTER XIV.
THE HEAD OF THE EARTHEN MOUND.
The Bank of Scotland-Its Charter-Rivalry of the Royal Bank Notes for 65 and for 5s.-The New Bank of Scotland-Its Present Aspect-
The Projects of Mr. Trotter and Sir Thomas Dick Lauder-The National Security Savings Bank of Edinburgh-The Free Church
College and Assembly Hall-Their Foundation-Constitution-Library-Museum-Bu~~-Missiona~ and Theological Societies-The
Dining Hall, &.-The West Princes Street Gardens-The Proposed Canal and Seaport-The East Princes Street Gardens--Railway
TerminusWaverley Bridge and Market.
?HOW well the ridge of the old town was set off
by a bank of elms that ran along the front of
Tames?s Court, and stretched eastward over the
ground now partly occupied by the Bank of Scot-
Idnd,? says Cockburn, in his ?Memorials;? but
looking at the locdity now, it is difficult to realise
the idea that such a thing had been; yet Edgar
shows us a pathway running along the slope, between
the foot of the closes and a row of gardens
that bordered the loch.
Bank Street, which was formed in- 1798 a few
yards westward of Dunbar?s Close, occasioning in
its formation the destruction of some buildings of
great antiquity, looks at first sight like a broad
czdde-m blocked up by the front of the Bank of
Scotland, but in reality forms the carriage- way
downward from the head of the Mound to Princes
Street.
While as yet the bank was in the old narrow
alley that so long bore its name, we read in the
2Tddnburgh HeraZd ann! ChronicZe of March, 1800,
?(that the directors of the Bank of Scotland have
purchased from the city an area at the south end
of the Earthen Mound, on which they intend to
erect an elegant building, with commodious apartments
for carrying on their business.?
Elsewhere we have briefly referred to the early
progress of this bank, the oldest of the then old
?chartered banks? which was projected by John
Holland, a retired London merchant, according to
the scheme devised by William Paterson, a native
of Dumfries, who founded the Bank of England.
The Act of the Scottish Parliament for starting
the Bank of Scotland, July, 1695, recites, by way of
exordium, that ?? our sovereign lord, considering
how useful a public bank may be in this kingdom,
according to the custom of other kingdoms and
states, and that the same can only be best set up
and managed by persons in company with a
joint stock, sufficiently endowed with those powers,
authorities, and liberties necessary and usual in
such cases, hath therefore allowed, with the advice
and consent of the Estates of Parliament, a joint
stock of LI,ZOO,OOO money (Scots) to be raised
by the company hereby established for the carrying
on and managing a public bank.?
After an enumeration of the names of those who
were chosen to form the nucleus of the company,
including those of five Edinburgh merchants, the
charter proceeds to state that they have full powers
to receive in a book the subscriptions of either
native Scots or foreigners, ? who shall be willing to
subscribe and pay into the said joint stock, which
subscriptions the aforesaid persons, or their
quorum, are hereby authorised to receive in the
foresaid book, which shall lie open every Tuesday
or Friday, from nine to twelve in the forenoon, and
from three to six in the afternoon, between the
first day of November next and the first day of
January next following, in the public hall or
chamber appointed in the city of Edinburgh ; and
therein all persons shall have liberty to subscribe
for such sums of money as they shall think fit to
adventure in the said joint stock, AI,OOO Scots
being lowest sun1 and ~ 2 0 , 0 0 0 Scots the highest,
and the two-third parts of the said stocks belonging
always to persons residing in Scotland. Likewise,
each and every person, at the time of his subscribing,
shall pay into the hands of the forenamed
persons, or any three of them, ten of the hundred
