Star. — London, England, 1828-09-19 00:00:00

• A PIT rent .4 - _......, 11 ~ . . 0 , 1 'f• k , . 6.--Ap< - 1 far •. ( ( ).:\ . • . 1 .•,,... 6,ivr.,,,,!,.,..•„,,,..,. ....., Aar . • PitAa•A /.. . NUMBER 12,966.) CAUTION—BENGAL GOVERNMENT SECURITIES. MESSRS. EDWARD tad JOHN MOORAT re quest that so one will purchase any of the under•mentlesed 'Bengal Government Securities standing in their Names, if offered ler Sale, as they were endorsed and delivered to the Holder under 'certain conditions, and In respect to which Securities it is intended Ito commence proceedings is the Supreme Court. No. 137 of 2406 of 1822-23 for 100.000 Seca Rupees. • 1511 of 2406 of ....... for 100.000 lit of 2406 of fOr 100.000 —ln of 1395 of for 100,000 "=-411 of 139.5 of for 7.000 • .7daiipts, 14th ?.larch, 182$. IRISH DEEP AND PORK, PriCTU4LLINGOFFICE, 'Tidy 113„ THE 'COMMISSIONERS for VICTUALLING iia MAJE32'Y'S NA Pr, ie. d• Unity give *wire, That on Thunzin, the 15th of September nnt, they will be Indy to receive Tenders in writing (sealed mi), and treat for the Supply to this Deptlitmeat of a quantity of IRISH SALT MEAT, equal to Thirteen Thinned Navy Tierces of BEEF,' and Thirteen Thousand Navy Tierces of PORK, an to be Cured. the ensuing Season, to be delivered foor-fifth pans thereof in, Threes, and the remaining Sidi min 'in Barrels, intwirla Majesty's Victualling &ores at Deptford, Portsmouth, Plymouth, and Cork,. In sub proportions as shall bereaftet be agreed on, dee half thereat 'on or before the sat day of February, aad the other 'half on eel before the 31st day of May, 11119, to be paid for as utual,ty au* , 'without Interest, payable sixty days after data The Cot:diciest of the Conuaet may be seen et fhb Oflee, Or fal applying to Wm Ames, Seq. Agent for the Victualling at Cork., `or to the Collectors of Ms Majesty% Cutouts at Litherick, Belfast. Newry, and Waterford, and to the Secretary to the Postmaster. Veraeral at Dublin respectively. No Tender for a less quantity thin sbdi be equal to Three Han• sired Tierces of Beef, or to Three Hundred Tierces of Pork will be. admitted and ea& Tender must specify the price in words at keg* and be delivered before One o'Cloek on the Day ap. pointed. and Most be accompanied by a Letter signed by two responsible Persons engaging to become bound with the Party ten► viorMg. in ■ penal sum equal se me third of the mamma of the Contract, fur the due performance of the same. ?be Person who makes the Tender, or some Person ea his behalf, lust attend to answer when called foe. X W4LLZR *CLIFTON. EVER ANXIOUS TO PREVENT IMPOSITION. DAY and MARTIN respectfully inform the Public they b* after much labour and at a very eoasidergbk 'r ipens; brought to perfection a Label of stash similar evestinction sod swum Musky of execution, that they trust will rffectu illy prevent the many Fraud that are daily practised en the Publle. JIM attention to, the following description of the Label will en.vre the genuine Blacking prepared by them. A pattern like Lace of a *k colour covers the principal part of The Label, the names of Day and Martin are printed in white Otters edged with rink and black, and placed on a white ground, the address, 97, HIGH-HOLBORN. - - es also white letters edged with pink and black, bat placed ea the lace pattern, the signature and price at foot are black on a white groans', the preamble and directions for use are printed u before black letters on white ground..-97, High-Holborn, Sept. NU& LEAKE'S GENUINE PILLS, justly famous tot curing, in all its stages, the VENBRBAL DISEASE One small PIU is a dose, and the taking of one Box, a recent *ease, will soon convince the patient of the certainty of his speedy **Avery. Nothing can be better contrived, mote safe, or more tawniest than this Remedy, for such as are nbligitd to go *antes er to sea, as it needs no confinement nor restraint of Diet; and sixty years experience (in an extensive practice) has proved that it will effect a Cure wken repeated Salivation and all other methods *wail nothing. For the SCUM and ether Changed Disorders, this Medicine has not Its pat dleL Upwards of 10,000 persons of both seats have been radically cured of the above creel &sor ters, within the last eight years. Prepared and sold by the sole proprietors, T. TAYLOR and SON, Members of the Royal Col lege of Surgeons, at their House, No. New Bridge -street. ill Boxes of only is. id. each, duty included.-- N. B. Two back doors, and Lights in the Passages at night,—They are abo sold, by their appomunent, with copious directions, at the Toy.sbop, NZ, Oxford -street; Mr. Disberough's, No. 7, Fisb.str eet -hill, beady opp osite the keentmeot ; and by one Person in every coo slierable Town in Great Britain and Ireland. Advice grads to P teens taking the above, or other of the Proprietor's Medicines. FRENCH PAPERS. PROM THE MESSAGES DES CHAMBERS, SEPT. 16. PARIS. ears. IL Rear. Admiral Rosanel is going to embark immedi. ately at Toulon on board the Trident, to place himself under the command of Vice. Admiral de Rigny. This Leasure appears to bare given rise to a report of the recall of the latter ofEeer to France. The health of Monsieur de Rigny, which bad been impaired by great fatigue, could alone induce him to return to France. But we ate happy to Annoacce that be is now entirely recovered, and that, consequently, there is no idea of giving hint a successor in a command in which he has already petformed such great services, and may still Nader others mote important. VROM THE GAZETTE DE PRANGE, SEPT. 17. PARIS. Sari. ts. Au express dispatched from Odessa by Malaita? de Monenrart arrived last night at the office of the Minis ter of Foreign Affairs. Ile is said to have brought un favourable news of the Russian army. We have re. ceived a letter from Trieste, dated the 3d of September, which states, that letters from Corfu, of the 12th of August, announce that a Turkish ship of the line and six Egyptian frigates, from Alexandria, have arrived at Navajo, and are supposed to be destined to take back to Egypt the army of Ibrahim, before the arrival of the French expedition. These vessels sailed from Alexaos Aria on the 21st of July. They write from Bucharest on the 25th of August ie It is said that in one of the last sorties from Shads, the Turks succeeded, for the first time, in breaking a square of Russian infantry. It is at least certain, that on the 20th the regular bombardment of that fortress had not commenced, and that the communications of its Commander with the Pacha nt Wrddin were com pletely free. We are assisted that 30,000 Russians are coming, and will enter our principality by the 6th of titptember: TOULON. Sirs. I. The sit transports which are laid in the port. and are taking in provisions and military store*, have received *Nos t. be middy to sail on the 10th of this month. FROM Till ',IMAGER DU CHAMMIII. We 1, am from Coifu, by way of Ancona, that the Plenipoteotiaties of the three Allied Plain's, who, on the 9.h of Atigu.t, had spin assembled at Corfu, wen occupied in drawing up a joint declaration, which i$ to be killed in the name of the Three Powers, as soon as the French expedition shall hare landed in the Mom. This declaration will state the object of the expediLio..,• land the grounds on which it has been undertaken. It is expected that it will strive at the sod of Augur', FRIDAY EVENING, SEPTEMBER, 19, 1829. and that as soon as it has landed, the three Ambassa. dors will go to Pores, where they will confer with the Greek Government, but that they will remain there only a short time, and return in a few weeks to Corfu. Their houses at Corfa being hired for a year, it is pre sumed that they calculate on a long stay. Admiral de Rigny and Admiral Malcolm were expected to be at I Corfu by the 21st of August. The Russian Councillor of State, Count Bolgaii, bad arrived there, on his way to Greect. A Russian courier had also arrived with dispatches for the Marquis de Ribeaupierre. A rumour, certainly an erroneous one, is in circulation of an Eng lish expedition to Candia. ./ROM 11111 00U2111111 IFRANCAIL We have received a letter from Poros, dated the 2d 1 1 (14th) of Auks t, containing . the following details go Two of his Most Christian Majesty's vessels haste I just arrived, dispatched to our President through the med um of Gaunt Baron de St. Denis, the accredited agent of the King of France to the Greek Government, residtng at Poros. 4 4 A sum of 500045 francs was immediately placed ny that Geimaeman at the disposal of the President. -"It is said that Admiral de Rigny, who is dill all Smyrna, does nut come here because he is displeased at succours being sent in this manner, and at being tk-. prived of the share which he used to take in our stairs, by the arrival of an official agent, who has at once ex tinguished all his influence. Hii recall has been talked of for some time. Some ascribe it to that of Admiral Codrington, but others look trtm it as the result of the misunderstanding which exists between him and M. Tucherean de St. Denis.* Flunsen Puttes—k ) aats, Sem 16.—five per Cents. 105 f. 110 e. 75e 90c. &se.—Three per Cents. 73G 93c. 85e. 90c.—Batik Stack, I.B4of.—Naples Stock, /9f. 20c.—Royal Spanish Loan, Haytian Loan, 662 f. 50f.—Exchange on London. one attentlt, 25f. 25e. three months, 95f. 15c --- , Chum Astkentirws. BANK OF ENGLAND. T•sterday the half yeariji , Court of Proprietors of Bank S ock was held at the Bank of England. pursuant to the Charter. and also for the purpose of clnsidering a dividend. •The attendance, considering the season of the year. was goof, and considerable expectation had been excited t. at the discussion at this Court would mane an uousual degree of interest. It was likewise. smeared that a circular had gone round, inviting the awntion of the country bankers to this meeting; but we did not observe that these Gentlemen assembled with more than their ordinary strength, as on former uc casions. The minutes of the former Court were read by the Secretary, according to the usual form. The Govtasoa (L. Drew, Esq.) then informed the Court, that the Directors were. after taking .the state 'of their profits into consideration, of opinion :that a dividend of 4 per cent. should be declared as the divi dend for the half year ending on the 10th of •October next. The Governor was about to put the question that the recommendation of the Directors be adopted, when Mr. SgLWYSI (the King's Counsel) rose to propound some questions. Mr. RIOBT (of Irately-lodge ' a Barrister,) spoke to order, and observed that be bad given notice of a motion for a production of the Bank accounts, and claimed precedence,but he gave way upon the assurance' of Mr. Selwyn that the information which he trusted he should be able to elicit world be of service to him, if be brought his motion forward subsequently. BRANCH BANIII..DRAD WRIGHT, &c. Mr. SILWYN-1 am desirous of knowing, in the first instance, what number of Branch Banks have been established since the passing of the Act of the 7th of Geo. IV. relative to the subject? The Govan/ton—The wild slumber established has been nineteen. Mr. SZLWYN—In the nest place, I am desirous of l knowing whether the establishment of these branches i , has been productive of profit or loss to the Cormation ? The GOVERNOR said, that the object of the Branc h Banks was not solely that of gain, for they were gene rally established at the suggestion of the inhabitants of those parts of the country where they were established. The object was to give to those pints of the country the security of the Bank of England, and so far their estab lishments had proved commensurate with the expecta tions upon which they bad been formed. Emolument was scarcely at all the object, for the principle in view was that of preserving the country from the noose- quotes attendant on panics. If they did not entirely effect this object, they would at least render their con sequences less fatal hereafter. lie would not go into the history of what led to these establishments, but in the year 1826 the propsition was made for their estab lishment, and subsequently they were regulated by Act of Parliament. Any opinion as to the result of these establishments, as tar as regarded their emoluments, he could not form; but if they did not produce a single farthing, or even if there should be a slight lose. still he should say that the security which they gave to the Bank and to the country rendered them sufficiently advantageous. Mr. Sar.wvu—lt is not my intention to question the propriety of the establishment of Brooch Banks. All that I want to know is, whether, up to this period, the establishment has been attended with profit or loss to the Corporation ? The question is a simple one. The Govaalloa--It is well known that an Act passed for the establishment of Branch Banks; and that the Directors were called upon, and answered the call. From some of the Branches profit has resulted, while from others alga has beep incurred. Mr. SELWYN—May I beg to ask whether the measure has been advantageous or disadvantageous on the whole to the Corporation? The GOVERNOR-4 cannot answer that question; some of the Branch Banks having been established very recently. All may have returned some profit. Mr. Sat.wva—My question is, whether there has been a profit upon the whole taken together ? The Govaanoa—Upon the whole taken together, they have not returned a profit. Mr. SaLwiti—The next question I shall ask is, what may be the amount of advances outstanding at the pre. sent time upon mortgages? The GOVERNOR —About one million—perhaps one or two hundred thousand pounds mores Mr. Sat.wirn-1 w ill not press she next question I have to ask ; it the Count are of opioien that it is im proper. Its ill not press the question. It is, what is the amount of bills discounted by the Bank in ths last year, vie. from September, 1827, to September, 1828? Thetoirannon—That is a question which has never befit. been asked. and consequently never answered. Mr. Bm.vrts—l have ao possible idea what objec-1 tion there can be to answering the question. The Govaanon—lt is not one which we consider et• pedient to answer. Mr. SILWYN—The next question which I shall pro. pose relates to what is called the Dead Weight. Rave all the instalments agreed to be given to the Bank, en the purchase of a portion of the annuity created to defray the SWIM of Naval and Military Pensions, been paid up ? The Gammon—That is a public transaction; and any one at all acquainted with what takes place in Par or who has read the Finance Report, mu►t hate known that it has been. Me. SaLwym....The worthy Governor must be aware that there are many persons perhaps present who do not read, or are not interested, in what are called Acts of Parliament. It was principally for the inforniation of any such persons that I proposed the question., and not for my own. I had acrintention whatever of consuming Ilre nolualste time of the Coutt of Proprietors. The Gammon thought all persons were aware the , the list instalment was to have been paid up in July last Mr. Sat.wvx was aware of the fact. but submitted that it Would be in the knowledge of the Directors alone whether it had been so paid as promised. lye non desired to know it' the amount of Annuity receivable by the Bank, the sum of .51 4 5.7401. had been paid away in Dividends, or was it to be considered as all clear profit? The Go esanon—Decidedly so. Mr. STIIIVAIND—,-HAt the Dividend paid to the PUN* prietors since Lady-day. 1823, been uniformly the same? The amount of the sum paid back by Govern- 1 went was about 13 millions ? The Govearroe—tes. Mr. SaLwyn—Now, then, I have to remind the Pro prietors, the; the dividend for t he l ast fi ve y ears h as been uniformly four per cent. During a great portion of that period they have been making advances to the Government respecting the Dead Weight. to the extent of thirteen millions. The whole of that sum has now been paid up, and therefore there is nothing more to discharge to Government under that agreement. That sum of 585,7404 gives four per cent. on the amount of the capital of the Corporation. One quarter has elapsed since July, and therefore the Proprietors were entitled to a quartet of that sum. If, therefore, the profits of the Company could previously have allowed a dividend of four per cent. the Directors bad it now surely in their power to pay five. Mr. S. then moved—u That it. dividend for the last half.year should be five.per cent. instead of four," because they had a fund which could enable them to pay the increase of one per cent.--inas much as these thirteen millions advanced must have been a portion of the profits withheld from the Proprie. tors, who were therefore new entitled to the benefit of the profit resulting from their advance, w hi c h p ro fi t might be best paid in the shape of a dividend. Govaasoa said that the thirteen millions were drawn from a fund independent of the profits; and the Learned Geatlemaa must, therefore, be aware that a portion of the annuity arising pays back a portion of what bad been advanced. It roes to pay back the capital to the fund from which it bad been advanced. If, therefore, this annuity has now to be appropriated in the shape of a dividend, they would have to replace the capital; so that, at the expiration of the term of the annuity, they would be left with the whole debt of thir teen millions to provide for. Mr. SaLwyn would leave his proposition in the hands of the Proprietors. A paoentrroe thanked the Learned Gentleman for the pains he had taken on the subject, but must differ from him. No conduct could be more imprudent than that of advancing money by war of loan, and when that sum was tepaid, to appropriate tbe principal and interest in the shape of profit, withinn replacing the capital front which it had been advanced. It was im possible they could consent to increase their present di vidend upon such a reason. He trusted, therefore, the Learned Gentleman would withdraw bit motion. Mr. Yount; said, it was clear the Learned Gentleman was not accustomed to mercantile transactions. There was, however, one important fact, which the Proprie tors should know, before they could agree as t o t h e dividend. He wished to know what was really the amount of Bank Securities in circulation, not redeemed by payment? When he 'bad' asked this question for.. merly, the answer was given at to the amount of issue without deposits. These latter bad increased, and as be considered them part of the circulation, be wished to know the total issue, including the deposits: The Govan:oft—This is not a sew question; the amount of issues at present is 20,900,0004 In 1026 it was 21 millions, and since then it has varied nevermore than 500,0001. This includes the advances made by the Branch Banks, but not the deposits; fo r k is a snip take to suppose to ut they can be considered as forming a part of the circulation. Mr. Yours—Have you not received value for them ? The fioveawon—The very ground on which they use deposited in the Bank shows that they are not part of the. circulation. Mr. Yount; persevered in putting questions, till at last the Governor said he was not await the question would be asked, and did not know bow much the de posits were. Mr, Selwyn's Amendment was then negatived, and a dividend et 4 per cent. agreed to. BANK ACCOUNTS. Mr. RIOS? then rose to move a Resolution for the' production of the Bank Account., and proceeded at, some length, when The Govearion said, it was usual to pass the motion for a Dividend, which was then put and carried ac- 1 cordingly. Mr. RIGBY then pressed on the attention of the Court the necessity of producing the Accounts, and en. tered into a hastened detail of the Bank of England, contending that they were obliged by the Charter to produce their Accounts. He proceeded to state, that it was not at all consiatent with the usual practice of mer. chants to declare a dividend without looking to their antis, and yet the Court of Proprietors met and de dared a dividend without knowing how their assets stood. When the Bank of England was first established, !the Court of Dreetert were obliged to try the COUP. pany's accounts before the Proprietars, and this prac• ticeezisted from the period of the loan to King Wil• liam the Third, down to the 24th Georg.e ILL The oath which had previously waited, conspelliej the Di sectors to produce the accoun ts , w a s di s pense d with by [Paws Szvibinxes. the Act which passed in that year, and it was enacted im lieu thereof that any m i ne of th e Ctiert of Proprietors could call upon the Directors to publish the accouom. It was most absurd that they should meet and deo elate a dividend. without knowing the state of the Company's aecaunts. He had the greatest confideoce in the Court of Directors, bet be was bold enough to avow that he dissented from the course they had adopted of late years, and more particolarly objected to :he h.sty manner in which the establishment of Blanch Banks had been decided upon. There were many who now heard him who had a greater interest in the wel• fare of the Bank than most of those behind the table, and it was a matter of importance to all that their in terest should be supported; and the measures adopted of late years had been the cause of the reduction of the interest on Bank Stock from ten to eight per cent After a reference to the part the Bank had taken in up holding the credit of the country, itc. he concluded b moving a Resolu t i on , to t h e e ff ect ' that t h ere be lai d before the Court cf oprietorspn account. showing the General State, Condition, Debits Credits, and other Accounts of the Coiupaey, f or t h e last year. Mr. Smartt seconded the Motion, though the Hon. 'Proprietor bad opp ose d hi s . Th e H on. and Learned Pro. priaor appeared equally cognizant of law and finance. He (Mr. S.) was not equally well-inforesed at the latter subject. However, there appeared to him to be one essen tial reason which rendered the production of accounts particularly desirable. At present there existed no check or cootroul on the Bank expenditure in the hands of the Proprietors; and there was no possi bility of availing themselves of the united talent and wisdom of the holders of stock in reference the management of their concerns. It might have nc caned that in the late war, when there was a very large expenditure for law prosecutions (say 10.G0aper annum) something might have been suggested in the wry of saving. If the affairs of the Bank had been more im mediately under the coatroul of the Proper tor*, soars. body might have hinted that any n , licitor would have taken the business at a salary of 3,0001. per ioniser, and thereby a saving of 7,0021. might have been yearly effected--(Heas). It is possible also (continued the Han. and Learned Proprietor) that a very large expenditure made with regard to your buildings—a great many heavy, unsightly, and expensive ornaments n itlt which the top of part of this pile is at present loaded, which contribute as little to the stability as to the beauty of the edifice--LHear, and lavghter)- I say it is possible that much of this might have been saved. I may here say, that the architect who has decorated your buildings appears to have been determined to render applicable to himself an epitaph written upon Sir John Vamburgh— ii Lie heavy ea Wm, sank he be Laid many a heavy kind es thee (Hear, and laughter). In the erection of the edifies there has been no economy of money or 'materials s the only economy has been one of taste. These and under branches of espeaditure are proper objects of investiga. don ; and in reference to them and the affairs of , abeCnsm• pay geeerallytiveshOtild set upon the lith by-law of the Corporation, at the sates time applying to our concerns the united talent, intellsgeoce,and wisdom of tbrPropris. tors at the half yearly Meetings. On the face of our notes is inscribed, is for the Governor and Company of the Bask of England ;" but this appears an absolute misnomer ; it should run this. " for the Governor and D rectors" laugh)—these elevated individuals, who, in their Upper House of Convocation, take upon thentsels es to regulate all the concerns of the establishment. The Learned Gentleman sat down, after expressing his mite approbation of the motion, which he concluded by se. conding. The Govannon conceived that the 6414 interests of the Bank of England would be upheld by allowing things to go on as they h a d d one f or tholes, hundred years. It was a matter of the utmost importance, nit only to the Proprietors, but to the country at large, that the system adopted by the Directors, and which bad so long existed, should not be altered at the pfeseet moment. It will be remembered that the period will soon arrive when the Bank Charter will expire; and the Court of Directors bad the best rearms for ex• petting its renewal--(Hear, hear, hear). Under Anse circumstances any change of system would produce a panic among the commercial interests; and it will be remembered that, in a short time, another import• ant measure, affecting the circulating mediums, would behrought into operation—he alluded to the withdrawal of country small notes. Perham therefore, at no fa t • mer period might the Bank of England to beaters alive than at the present moment. The confidence of the Proprietors had ben given to the Directors; and the fatter bad rendered essential service without temente,. don or patronage. He would recommend the Proptie• ton to do all in their power to maintain the tied* of the Bank, as upon credit alone were the commercial transactions of the empire conducted. If the Hos. Pro ptietor (Mr. Rickman) was disposed to press his modes, lie would suggest that, between this day and the next six months, he might arrange his ideas; and, at all events, he thought the system at present should not be disturbed. Mr.Youna felt the force of the observations made by the Hon. amitosis, but must at the same time state hi opinion, that information ought to be given to the Pros pt ietors .. Mr. Rion was always disposed to bow to be opinions of those who had matured their ideas, and from their situation were better qualified to judge what was most advisable than himself. He confessed that the present was an important era in the stein of the Bank, but it most be recollected that in the neat six months Parliament would meet, sod be should be laughed at by his profession, if it was found at their next meeting that a clause had been introduced into the Bill on Bank Af fairs. for preventing the making of any returns what ever—(hear, bear). Without a distinct pledge from the Dirtctors that no such clause should be introduced, be would press his motiou. The dovseuort suggested to the Hoe. Proprietor the expediency of reconsidering his proposition between that time and the next half yearly Court. The Hon. Mem. ber might thee be able to come forward with a proper. sal which would, perhaps, prove acceptable to the Cos• panm lie bad only 'wed the reasons why, in Isis opioion, the Hos. Proprietor's resolution could not sow be adopted. He repeated his recommendation to the Hon. Gist!ernes to withdraw it for the present, with a view to Its reproduction on a future occasion. He dierefote • Dow pot the question of adoereeent,