Star. — London, England, 1826-02-28 00:00:00

, .... " A • 4 .litin‘r . .. N t.' • ea. ~ 0 '. , ' . er - ~:, r•-• ..',.-j . , , .. " .. ;%•• - . l i-.' s . • . t \%. r , . ..._ _ was the•greXiemtverfiente Of the practice. But v the adoptitrUrit'the Bonding end Wawhousing .) .and-thicesos were under the Kings lock, all t - Ain, ;er ces in tinning money upon them were '‘. ''' .4 ellhd. if not ent:tely"done away. Supposing the advanced not tab* to the Mt affifient of the goods, but . half or vate.flieres, they would beervineh hatter security than As credit of individuals— It asasiolii that to advance money fir•ei ,hens Period W il lig .4.Anoustk last if the lioble Marquis had , ;Bern the Danaher of pttaililli'avitVerhons he ' I ' l of foiverPool k j bad tanovirtedtaif &Widget*: *hist . . Part ' * eeyntrf• •w' • w"old ham , these leutepsenerelly bell that an vance fur thati limited period. wield* sof the greatest toe. The money was IN the country. std nothing but the restoration of confidence was . wantrd. If were li want of means, the ease would be very' diferent ; but If, as he hawed, money was merely baked up, thei ' - CoUrft proposed would he themost offectstal. . . The E , rl of LAUDERDALE considered tbat mea ante as merely tending to remove the responsibility from his Majests% Government, and to throw it on the Bank. The Noble Earl. said that in 1793, the difEcul ti.s arose out of the politicsOf the day ; but was not that the case now ? . They were ascribed, he well knew, to pao'c and to overtrading, but if the _balance of gains anti loom through. the whole • couotry were struck, be did pet think that the latter would be foam" to exceed 1,100,(1004,'„. The Noble Eat said that the circulation of one ;mkt., pound notes, and the state of the law with respect to honking, were other causes of that dis tres.s,,end then beintrpdured a Dew Aystetll of banking I Was that a mode offesto• iog confidence?' Many caulk. try bankers had weathered the late storm with great, loss to themselies.ttnt still ins manner which bad con -srmeJ their crldit e _ as not that more likely to restore confidence than _a ;Sew system? Rut the truth was, that Mr. Pitt, in declaring . war in 1793 , had not been a more active,4geot in bitoging distress upon the con:l -ay than the Noble Earl in prottircing such measures as were now liewe Parliament. Had he attended to his Majesty's Speech, he would have.seen it stated, that the Frowink prosperity of the country would soon repair, the evils which ii had suffered ; but he bad taken another way and wanted to effect a total change of system, the most fatal measure which could be coo. ceased, and the consequences of which became every , day more apparent. The best and only way of giving relief would be that adopted in 1793, and again in 1814. Ryan if it were wrong to itself, the very circumstance of its having already restored confisiesce waulti make him say (the Bari of Lau. deed ale). tread the path ',Wilms already succeeded. But is those times, right or wrong„ same sew experiment must be tried I lie Noble Earl had brougbt ibe stuantry to such a mates that an Moe of Exchequer Wins would be very useful, and mach more ellsea teal than MI his soma (angled plans. . . / . Jane GRA RTelt. 'llse Turntroar, nwea. that the Iteplitt of the Cow, wditee' Os • 'Witili Charter Aketuifun Alin be agreed to. . .:The Itritsis of LA.NSDQWN rose to propose . a proiiro to the clause ; addea by the Noble Earl to that Bill for. allowing.the Bank to establish Branch Banks id various parts of,the country. The object of this pre= vise sills-to CoaPill iiii Bank of England, in the event of isiestnNishisig such Banks, to make payments fd coin at thoserplectrobere they issued paper. It would ski*ifeto foutid'acasSary for chi Leir.hture to pro vi4 t;filtpl en Ac Ng, only convertible intsi'alin, but that it be so convertible in the *arrant 111111•1110 f and at dye, cisme* bore papee-witi mat n a sal -”He was the mote lelduclifialseAs tith Iftlinlrbit IllVfisaPpe)ted in 1411 1 5 41 wlltil.'Pefirtlie 0rii..30 - BeiebAiluit 4 to Pay iwrowal lois is sow:- Noesodimis .war* oomoseoced agaiost shwarbir of Irilkod,. lobe: were wisely advised W i ttifit I, ... w )IV4 fhele ta Zr:bOit OW Or 9 Vn ir .;,... : ic •• • geitsf ' .4_ l 46A 4 . l APR . .gi PP* ft arse*. Is CAMP swifts* ibis. brivrettr, byia • words " in Dublin ° on thei!„,poteg thglast•tnade •tbeir On • tibera , sttal ha. ffir'Mfi - 'pith I 'lid we' fo k rz a ji, ta can airt Wail& gslkitents., isiff bees tbar toe ematrfeartters hi wow hid iatity adnpttditOn rill= dient, anti made Abair notes pare* In I,,qpdarriM. The 'l4Rpt tie tiiiititel Ills riisvidWieltich stated teal Wetly ifaie lellere Hillbesgellltki Beak off labi a Was avail , ea bra Branch F.stahlishosehlejoilty prabilsibernate tweed abeabitrOnine payable . *wile at that plum misell as in lAndens. 1 'W. , 4• ; a:. --•:;$ .V. • .:.hat Espl:ot I.4I.IOBBPALS saidiehat saloarilletlialailweer trams& la a parskolar - wanner, the Branch Baal* aillgb! ea" Thar . therkid awl isearkthem. • ' ' ••• : . I '',ll: Berl of iitnit POOL Sad no . otiettroft tithe!, tOlitt 'provisti•of Alit. "Noble Marquis, at to the 'sugites - - ' 4 1 Pi Ill.:VOA" Tail. .As the Rank • of . :Enean • notes were mote liable titan others to be forged, on aeeotsist' of limit - great . cireulatioo, the Branch Banks liiing' ipOrnolvs wfigfit be a benefit. It would .: eigilly idvantagious in the case in which indiviifteata t> ul¢ coneet seela‘ oxen Mn the Bank of Rogisod or sps . any particular brae*, fur to throw discredit upon mat an sus- Wunent woad bill a malt Clerk. ..t he therefore thought that It would be Whittles, lAs. stk al Anslaad to adopt a different form of isilibrW'rMt. ' Looking at the question with ronstitetionslollllllll,l2llll/41fMs sisal act sea considerable check arovltlidialt "44-'4 in I,is •' • ' • - ' 4 . 'Pox #flipti : ii: L4IIISDOW.N observed, that if Af. _W•1#10044‘1111Vt:ottlCil A . tegolation it would be iSJIIIIP•ii*Af . ainkilianah of.tho Bank of England to ofillilliilleh the •airanie . loreir•owy baskla _any di,rist. Fur if it • • II ... eistoTsmt eldiged.aillay iasdu, i< trsMset tIU the notes of that hawk irial4 AND rifilinami tea whom alte ether could not fttallate. The edgiest clause having been agreed to, the ptuvlso was thee piaLoodlosorisoesookitiourly,' iodising oodifesootid that it tbn~l if oilifiliboatioroasee is is l oll6.* third taw 81 "' morrowr.Adjustrned. v.. 11 so to • .4; • _IyaUSE, OF COMMONS. •Pde. lESTCOURattook Aso Oath and ids seat as a Melehlreirdr the University of Osfued,_ • .llre EATIKICS, Our *as 'WM** as Matiobor tor eseirefielio • ' fit the+roomoffhisitshor.: . • .11r. EMT. feeninticTreawarp, -brought sg an estruet Orem the Bank Charter, which empowered thou so lent! money en peas, o:gro4s 'do aqinsee. *et -.4.atid on lb* table. Mr. I " llCAlef4lle4 *MA 4vaelf 1 0 biU for 4 11 0ot 6 ev• %%1 1 . 4"Aij o r ta, G r . • •,rm IL 8 A b Ought in a' WI to amid the Act Mattes to t4e Ifidtertdan Joint Stock Comp an y.' " • 'Petionne agifint• Slaver); were presented by Elk W. Txamar, (Ann Appleb);;Spalding, and Lint-din ; by flir J. Sesimirr, from Stremon tAby Mr. Pesten, from Stonehasen; by .Sir Wx. Ryes caws, from Eton-lp.ll Parish.—Ordered to be printed. preleuted a IPetition from the hidden. and Moiety of , Adiremates id Aberdeen, against the Attealostys' Tax.— Ordered so be pointed. , . • ' Ala. CUM II I PI 0 presented a Petition front the Provost and Council of ledeotosit against It change in th e currency, • . dle.WiliKMA 4 VlPepreaented diftePrtiticins against slavery, front Meogo p pridge ;Ito** fie East District of Cornwall; cu d I rani droth. hit V. COLE, premoted a Petition from the Crediters.o/ a flanking ,Etteblishtueet, in BWallfea, In fartior of Mr. B r ibe, ileettor and . Criditer Bill The Hun. Member strongly recant '. , the principle to the consideration and support of - the I tst.se. In the case 4 the Bank, whose creditors now petitioned, wi m p t ip * , fit= to pay the whole of their debts by four o“tantents of Gee shillings iu the pound each. 'Mr: unto in. tirade some cibservitioM on' the nester, of his Bill. It made that lawful which hit/rent) Ole crittiidered an 'let ofikoettiptcy, namely, an arraitgierwAte,• by .which' shore as. signed their propirty td s porticet-oliattel• by the , Bill . as wrens eightlau 2 -of their creditors for the benchtt of the whole. lie • was itt'posseeriedontentedsus tenets front persees romPeclawnq and judgment, hettiten expresdrin apprettal •ot the ilitt. He dwelt twit& *Maths audwrity of one which** •Itad received iron s " iittiivieltef if alenettester-wa prat-Wad and:es MAI who 1 de*****Thi O4 by 6416 bfee fi tial iTZ ga tose faker, baskor MR, wall hin t far pretkvable s the armsgerment ivirick c.mtentplated Was to a tienkreptiy. Tif the feensee 'caw, &hums I if ceently discharged the white of their obligations; iu the lancet,. . previous the executing parties. _ exceeded woe net an sea Of Bankruptcy unless Esmeedinga wore takes span it within six months, and in many instances now existing, the credi tors who had consented to the asiigunteat milk& avail themselves of it in order to take out a Commission of Bankrupt, unless a clatter were introduced into. the Bill to prevent them. Mr. BRIGHT would willingly agree to the proposition, and would introduce the clause, if possible. • The Petition was ordered to be printed. Mr. 1,. FOSTER presented a Petition from the Atternies of Ireland, praying ibat tbty might not be restricted to the taking of certain fees.—Ordered to be printed. Mr. W I LLOUGH BY presented a Petition front fisk Inhabi-1 tants of Newark.upoo.Trent against Colonial Slavery. Four *iodine Petitions were presented by Mr. 3. Woaviae front the town of Sheffield. Lord sTANLRY presented a similar 'Petition from the County of Lancaster. The Noble Lord also preowned Petitions from Man chester ; the Township of Royton ; the neighbourbo9ds of Mars. den, Troubeck , and Arrowford.—Ordered to be printed. Lord STANLEY presented a Petition from the Chamber of Comnierse of Manchester, for the Repeal of the Usury Laws.— Ordered to be printed. Mr. SYKES having obtained leave, brought in a Bill for the Coilection of Small Tithes.—Read a first time, and ordered to be read a second time on Friday next. The Honourable Gentleman then presented a Petition from General George Corketikrelating to the Duty an Foreign Pictures.-,Ordered to be primed. Mr. PHILLIPS presented a Petition from Ashton-under-Line on the subject of the Corn Laws. Lord J. RUSSELL presented a Petition from Huntingdon against Slavery. Mr. 11011 HOUSE presented a Fetiches from the parish Of Margaret and St. John, Westminster, in favour of the NM against Cruelty to Animals; and also similar Petitions 'Buis Hitt Inhabitants of Pentonviile, and the pariah of fig. Mary4a4edieb-;. Ordered to be printed. • Mr. CHARLES CALVRRT moved for Returns of the Messy paid to..Greenwieb Hospital, front the Slat December. lON, to 31st December, ittaS, on account of the sixpences de- ducted from the pay of merchant manienee-Ordered. Mr. i. SMITH presented a Petition from the Practitioners Law of North Britain against the Anomie.' Tal.--41rdered to be primed. Mr. HUME presented Petitions from Aberdeen. and Arbroath, gist . she extension of the Small Notes' Bill to Scotland. Bite 'Bondi small notes were extinguished, the•elfect would be to throw half the population out of :employ : be hoped Ministers would 46 let well alone," • proceeding that It would have been well for them to extend such principle to other .1 their 111161111Unte. The Hon. Captain GORDON supported the Petitions. and hoped that the Ministers would pause before they adopted the threatened measure respecting the currency and small notes in &et land.—Potitione ordered to be printed. Mr. HUME presented Petitions from the °Wady,. et.Senth Shields and Blackwell, for a free nada letOns.--Ordlited7. to be printed. Lord STANLEY presented s Pedtian lbe'-Guttthie of tenneaseer et Manchester, for the redesign of the en en' pse Smell Nis etEachange.. Mr. CALCItA Ft asked whether the Ike, Member tor. 'Lis& den intended to bring forward his ands% whielistend for to morrow, far aCoMatittao te knothole!, the aweless of thetoUntry. Mr. T. WILSON old, 14 was ralhalhil kie Pree.nt tomato te bring forward hie sadden. ilia selerstmai that something like a partial arrangement bad boo ; amino that ripened late seariatfikag like a decisive sal aesailtre,bl should bring fer Ward his promised antis& SANE PROMISSAIT MUSS SILL.. . On the Order Of the nip &WA* HOMO. Obi tow a Copmehts• on the J3anii Prot:dues/ Nevis-MU, being road, The CHANCELLOR of the EXCHEQUER, iii" answer to a question from Mr. Calcraft, said; that it the bulimia of the Committee were Some through Mil:they aysetug"„ be (the Chancellor of the Exchequer) *lli Iteekineli..., *ties whitreer that the Bogert eight be reeelvoil twalWirkivirs is graft at - tba day, whew the Ham Meesbar ornel4 be an .ppor+YaitrOds4aedoghrhf *aim en the oh**. . • On ftheseestii.Ser the Speekefs loving the Chair, . HUME; wished, previous to the speaker's Ical. ing the chair, to suggist a .proposition which he earl ;weed would be foand most advantageous. It appeared to him, that this measure was not applicable to Eng land, and still less to Scotland. It was well known writ the medium at present in circulation in the latter oenatry was much less expensive than the medium pros posed to be substituted in this, and which it was appre Mended his Majesty's Ministers might seek to extend further than was at present openly stated. In what way was this Bill to prevent the recurrence of the evils already complained of. It was universally acknow= 'ledged, that the holders of those one pound notes were the persons most aggrieved by ahe failure of a bank. ing establishment; and he conjured his Majesty's Mi. 'litters to reflect on whom the odium would fall, if after this period, any such occurrence should take place as would involve the poor creditors in similardis• tresses, and what responsibility they would avoid, by acquiring a deposit from every individual banking establishment, for the amount of every note that should be issued by them, in order to scent.- the 'bolder against loss. He thought this latter measure would leave a cheap medium in the hands of the pea pie. by the use of which it was impossible loss should be incurred. Thus, on the refuial of payment for any ,one note, in any instance. it would' be competent for the ICoasmissiosirs in whose bands the security above atea- 4 !timed should ha-deposited, to convert a portion of that, Security into gold, for • the purpose of satisfyitsi Ste,. creditors, This would prevent the possibility of a ru n on any . ibank, and wools! in fine establish a paper currency on a firm and solid foundation. By the pub,li. cation r morenver. of the accounts of every bank 'on the, 15th of cvoiy month, the people should be satisfied of . the amount of the gaper currency in circulation, and' public confidence would be-confirmed accorditly...— It - appeared. that since the establishment of the hatter'C Banks in Ireland, the number of one pound notes stampt wok 2,000,000, and he was convinced that The adbption of a-somewhat si tnik4r policy here might be attended with a- simil r increase of confidence. Since the establishment of Curter Bank. in Scotland only one failure had taken plate, and .that was occas:onekl by its connection with an unclrartered bunk in another provinc, The Haas Member , instanced• the example of the Charter Banks in Maseachusets,Nortb America, which were compelled., on pain of ksrteiting their chatter, to pay in .specie an demand. The tonseqtience of this restriction was, that no individual had suffered by a single failure of thOthi [tusks. I-Ic should, therefore, conclude by' moving that' nut' uo ions be given to the Committee to insert tt clitik4 l in the Pr ntiastity No H 11, requiring "That it be an instruction to the Committ e e an the BW is pm. vide for requiring from Wain ami 'Linking Ifetablialtameta, de, punts (to he loiged in the Exchequer, or ahoy proper 400, wiped la amount to the amount at promissory -notes paysisie . Ipased by diem respectively.' I : The CHANCELLOR. of the EXCHEQUER slid, .it would be a very clumsy moda, ok - PfPceduie to in• 'esvparete such importa.it potentiating measures with the . mete t-mpoisiry regulations which *ere enibeaced by tie preaent • Bill. He thduAlst if 'hatild lt,iittle'toto mu ch to . iinApois Aiwa 41te Ilannutable I *loliet persuade the MARC so far to %Mike 14%.,*(a11%41,9c, ah 13. substitute his plan for • one to which they ltd . . .. • ;. .ti• decided support, both in principle and Chancellor lift thi ilidhequer) ems 'nen." of'tlye Honey:misty Measber fee labinh ter • vet Ingle!** obiegbitit • it's% consleivel, wars the lben ., iimpeaper .hirldiairal aunts depOsit that obeli inasmath , as it. would place thatbddy-isr elatioo, with regard to every person , to infest his capital in a countr, bank.. .1 the HOn. Gentleman recollect that there were two species of creditorsale bank—those who held the bank notes, and those *PM' deposited property in the Bank ? To thoSe two classes of creditors the security thus given would be unequal. He certainly should feel it hit duty to oppose this instruction as the principk of the int siare, at present in contemplation, the gradual estincdost of IL notes, would be counteracted by the propos:don. - Mr. SYKES thought the issue of small notes perni cious in its effects, and agreed in thr necessity of put sing them down immediately, and regretted the extension of their `lssue to the 10th of October. Mi. HOBHOINE said, he should be sorry to see his Majesty's Ministers departing from their original inten tions, and thought that unless the proposed measures were adopted, there would'be a continual recurrence tii those evils abicjs all . were anxious to avoid, and theref to lie thought that those persons who had a power in the control of the currency, ought to submit to those rules and regulations to which a!l other trading bodies were liable, particularly when such submission would act as a guarantee for their conduct. The Hon. Gentleman thought the calamities arising from a paper currency, not confined to the Bank of England, but to every banking establishment throughout the country. When the price of corn was at a low ebb the issues were enlarged, and it consequently was apparent that a directly contrary course ought to have been adopted. With respect to the Hon. Gentleman who had said, that the measure was an unfair interference with the currency, he would say, that so long as*, prevent system reveled, there would be a constant recur. .latter to the evil. He meant no offence to the c ou ntry bankers, in saying that he thought they were a.peruicioue set ateinds ; lad he should strongly urge the neoessity of their giving sechrity in fu ture, The Hun. Gentlemen then proceeded.to 'hew the necessity .of adopting measures to that effect ; and contended, unkss that body were interfered with, a recurrenceof-mitlemisuld follow; and - emit say, that if be bad seen any other opportunity for gaining so rdsaleable in omi t be wodld have embraced He wad not was. istesith the measure which the Its.. Flom Gentleman had brought forward, and thought that the Bank of England ought to be the map suablidmansfer mewling and regulating the curresey. Mr. HUSKISSON. rose to correct a misconception ,as io the sentiments attributed to him, on a late ;occa sion, in a debate on the _ subject of the currency. On that occasion be bad made an allusion to a bank at Horshaii, where there was but one bank at that period, 'which failed, and occasioned great distress in the neigh boating part of the country. When the shock subsided, and was nearly forgotten, which was not long after, a second bank was established in that town, and this also gave Way, and became bankrupt in the late serious dill ficulties, too generplly experienced. According to the statement of one of the vehicles which conveyed to the public sentiments delivered in that House, the bank of Hull was stated as that to which he alluded, though Hall had a large trade, and many banking establish ments. The banking houses at Hull, were anxious to reMove this impression, and be had been written to by ,the Mayor of Hull on the subject, to whom he promptly explained the nature of the misrepresentation. As to the 'question more immediately before them, be could. not see how the Honourable Member for West. :minicar wild, inconsistently with his last vete, Aomori the proposed instruction to the Committee. had Dever pet stated, not was it likely he ever :should be so ralle . as to state, that issuing a bill for 101. speint. wee an intirferenerwith the prerogative of the 'Crowe; but he certainly thought. that putting forth 11. aches as the representative of money, or cash, was Ouch an interference to tbst extent. There was no doubt there was a great deal of clacalty and distresi expe eimsced in obtaining the means of carrying on trade, if not of obtaining a livelihood at prtsent; nor was it :Itgry clear how these banks could counteract the evil. 'One of the consequences of such a measure as found- Ins deposit banks would be, that in all cases of pressure these de posits would be withdrawn. Again, would riot. the depositor of money at these country banks re quite, and in reason require, as extensive a security for his money as the mere holder of country batik notes ? la truth, the principle, if acted on, would diminish the iecurity.of the man litho ought to have the more valid security, and increase the security of the person who Vii least entitled to it. For his own part, Ire wished sincerely the Charter. of the Bonk of England were fur .ther relaxed, and that they could be induced to permit the estab &latent of chartered Wt., with a limited resp onsibility. He Amid ball is as ad am& of an Improved date eredl. It was list to be portrays eapetami the Bank of Ragland would at present make the law teener or later it would arrive.—*As Air Pralpedim to agree II se Hon. Member be was sincerely of atslul that were tie: ato give this instruction to kho teanMsw - our Alliculties and embarrassments mail be areadibureastd 64 aggravated tomorrow. . ROB RTSON contended, that although this essstry could boast only a much less population than France, still, in consequence of itiveiy. extensive com mercial and manufacturing transactions, it would re totas equally -extensive currency. " He feared the was proceeding with tee Mock baste In passing the present AA ON very imperfect informatios, and be pfd be must once more lama and hisplore Molders to pause before they reduced their thisprous theories into practice. Mr: LESTER was too favourably disposed to the present Bill ever to permit him to suppose that it would be merely temporary. He had always entertained a strong wois objection to the coen)ry 51. notes not being con or made payable at the place whence they were originally lewd. Sle.losped tie Riess ileociorabie Gentleman opposite woad resist the insportneate demands made oa them for their assistance by an kite of &chequer Bills. Mr. PIONCIC eoncOrred in the opinion laid down by she Hon. Member for'Hull. It was impossible that a *metallic and a paper Currency could go on together simultaneously. The present imperfect system had a direct tendency to increase the constant fluctuation of prices. The very Act of the 17th Geo. 111., which this was intended to revive, and which was a wholesales, measure, was a temporary measure; but it was fogad to be desirable, and was subsequently rendered pee. matient. As to many cases of bankers lately become bankrupt, they were known new to be little better than 'cases et swindling; and it became Government. therefore, to guard the 'public from depredations like these being again committed upon the innocent sad indestriens part of the community. The first step towards this would be the establishment of the currency on a safe and invariable basis; and the next would be accomplished by rec. Juin/ the country bankers liable to a regulation of aid kind, for 'the security of their cteditors. , Mr. M ABERLY hoped that Ilia Hon. F. iend would Yield to the suggestion's*: nutty of his friends that ending. and withdraw his motion for an instruction. Toe matins world hive the effect of sanctioningilte principle of givoli sae sec of creditors otbankers a preference above another.—Mr. limn refi l led. The UO46C thee divided, when there appeased for t. Ilassn's motion— 4 Poe ittetraetios to the Comosittes • ],. . • II Aiaittst it . • I"- Majority . . . • . —4ll • Mr. Hawes meths was ceneemiently lest. On our rotors :u 0 4 Sailers'. The CHANCELLOR of the EXCHEQUER °b urying, that aCthe lime of *hilt adjournment, 'bey had been occupied in the discution of a proposition of ithe HOn. Member for Abingdon (Mr. Mahe'ly), with respect to a regular publication of the iss•tes of the Bailk ,filEnglami. He had , e tafed then, that al though bilks 'mot by any means an enemy to publicity , in the trans actions of the Bank, yeethe.illd nut, cOaseive that there were the same reasons fcw„dentanding . a ccuppulsoly statement of all its issues, es there'srgrE for requiting an account of the circulatidh,' " of siatap . notes. ,The House. he admitted, might - exercise its power in re quiring the amount of issues for i ptirtku - lar purpo-e; but, as a genets' rule, it was his opinion that it would lead to serious inconveniences. He had then stated iiiii objections to the H-n. Member's motion to be fdtande/1 on these grounds; and he begged now to say, that his judgment remained unalteted. The amendment was then read ; it proposed, " That the Bank of Englund shoold he required to make monthly returns of •aidatteount of an their issues, and publish the same in the /ands. Gsawk. Mr. MABERLY said, the Legisiatuie had already recognised the plinciple of publication with respect to the one and two pound notes of the Bank of bland, and lie saw no reason why that principle should not be more gruerally extended. Mr. HENRIES expressed his convic.ior. that the Bank of England would not objeci to the proposes! publication. He (Mr. Herriei) was, however, opp°sed to it upon many accounts, but principally because it had nothing to do with the Bill before the House. This Bill bad for its object the gradual suppiessiou o! the one and two pound notes. The House ought to coofiue itself to that object, avoiding 41 estrane.ps or per= plesing matter. It was adsuuted by-all tlidse who bad delivered their opinion upon the subject. Us .t the mere amount of notes in circulation was no ctiteribn of the soperabundasse or deficiency of the corrency. Under these dr.: cuinstances, he thought, that a great deal of injury might remit from publicatiou, and no possible good, except the gratification of the curiosity of the Hon. Member for Abingdon. Mr. CALCRAF r ssid, that advaniages to be derived from publication were already acknowledged in the instance of tLe 11. and 21. notes Of the Bask of England. and he certainly mold see no inconvenience to be anticipated; on the contrary, a greet deal of good might be expected from the ex. temien of the principle. The CHANCELLOR of the EXCHEQUER said. the Right Hon. Member's argument was t-unded of:on a mistaken view of circumstances, under which the Bank of England was called up .ri to set-nn an ac count of the amount of their 11. and 21. notes. They had done so under the provision ~... an Act of Parliament passed during the restriction; but as soon as the Bank restriction ceased, the necessity for such publ.cation also ceased as a matter of tout se. Although, however, such was the fact, still, should any particular case calling for publication arise, he (the Chancellor of the Ex chequer) would willingly concede the principle again. That injurious effects must arise front the indiscriminate publication of the Bank issues, was obvious to all who had thought upon the subject. lf, for example, the Bank should find it necessary to increase its issitess, coincident with a fall in the exchanges, would it not, be a material subject of alarm? and suppose, on the ether hand, that they were to increase their circolatierN, coincident with a rise in the exelsanges,would it not lead the peftfc ti halftime that, although the Bank had imccomed its issues, while the egehanges were high, the general . must be anal, and be - thus productive of equal alarm? Hen. Galltiaillaa con cluded, by saying, that he &Mild she intraday:ties of the v g; cisme, because be ids that ft Inductive of injurious affects, and lead to me of t fro evils —ylhat overstraoe4 cushdc/Ces or *remotion alums. Mr. HUME did Dot Mb& efeeiniemi dame went far enough. and expressed his determination. at a hawse period. to Move -for periodical returns of the meow of notes Weed by all Abe Mootry books, as well as those of the Bank of England. • . Mr. MONCY deprecated ell secrecy in the Mama et the Bank,, and gave his hearty support to the clause. Mr. Secretary PEEL, referring to the argument de duced from the circumstance of the Bank having pub lished periodical accounts of the amount of their issues before 1797, den'ed that any public advantage resulted from that publicity—in fact, it rather tended tomisleasi the public than to afford them an opportunity of form-. ing a correct estimate of the amount of bank • issues for any considerable period—for instance, in January, 1797, the Bank issues amounted to 11 millions. Yet in tl.e following month they were reduced to eight millions: Thus the publication of the amount at the beginning of the month, was not a just criterion of their amount for a quarter of a year—nay, if it had been ached on, as a correct general standard of the amount of issues for any given time, it would unavoidably lead the public to en tertain erroneous opinions on the current amount of them. It would be much better to adopt the practice of that House on the subject—namely, to call for yeasty ye turns—the public knowledge of the Bank issues would tend to produce an improper and injurious influence on the exchanges, and would give rise to a number of absurd spedulations in money transactions. He would undertake to assert, that the Bank of England had no objection to periodical publications of their issuesbut to weekly disclosures, he thought they a ould noi; and ought not, to consent—such rapidly.recurriag and ever.varying statements would create wheal ismeemiseeryalaw , private prasices of deception, often mislaid Illelpedikylinfliebee do pod to soy party. •... , Ir. ,a. , Mr. H. 0 U RNEY agreed with the Right Hes: . the opinion, that many false inferemens would follow disclosures. . !. to. 5.9 Mr. A BERCROM BY was by so mane am p = o 7e= but he thought, that while the Hesse bed a ensue' returns Hon. Members were disputing abase oaratarivi Mr. MABERLY said the Bank held disifiarropith Government to an extent calculated to eacitiiitattlt, and indeed conducted their affairs contrarjrti tie true principle; which should regulate bestir estatfish mews. He had heard that the Bank had cikirrieted fee thirteen millions of the naval and military pensions, eight milli6ns of which had been already paid.' He had little hesitation in saying that if their accounts had been published weekly they would not have dared to have encumbered themselves with such a dead-weght. -lie thought it quite out of propriety for the Bank to ad. vance money upon Mortgages, and he also thought, while Government conferred tke power upon the Bank of thus making money, they were bound to protect the public by having au account of their issues. If, however. the Hon. Director weakd say that the measure should be taken Into consideration, be would rely entirely upon his candour, which he must say had been on all eceasiems the most liberal and praiseworthy. Mr. PEARSE said that the Bank• was kot to blanse for the large amount of their issues, which had been occasioned by the distress of the country, and for erhith Oronteanient had lest their sanction. No .tat were mere Wei. 11 1 611 0 Mae she holders of Bank stock-..n0 persons better uadtrinued the of banking transactions, and they would thometitxs have , ere this for their accounts, were they not satisfied that the (remelt inconvenience must be the result of publieity. Mr. IRVING said that the issue of the Bane, so far horn being too large, were tall lAitall. •He 'ahotsght% thrt thirty, or, perhaps, an inertalld 11;1'01%1104 til l forty tnillions would be found ..tequititi . lor - the cooPtrj• He was *dense to a-'cossteidnietti el. - da - transactions of the bank; . but he 'thOught . !ethl plo. 'Pr''"'Pet's they seldom did. Mail had the eilbe • untnt in its fa- given the . rr ost decided at your, and he „ use m 4 140 i ' ledfteelea . ;e 4 which would' fetslND Bailie (the Chancy Int since attend its *perm that be r , Wheel to abandon it by ' ..1-...... • ..1 mIl System, soy aystgiace aithc,htegillsl4 l l l s4l o rtosittme;s lll l l be ' . """'" e 'Ai le meagre of' 11 ;neon. 'bad In It • tbe Woe. •f r , Ajosnietn was liabithut •vl ,-.. Disabelli , . 40 Petition Wel of ''. Thai Treasury, he contieiet re light. 1 - lir- •-• A .. .;i 7 . •• . pubM& body for the. beadily Mcney 4 * W: tOCII6I4itT the e& the le b API •Ae Bin good so rai • A . ...., . be seggesteu ; ma5tn..4.44 , es it ti °"''' as h *dm ; lout he issocelved ft lleg to go a gteat deaf further. IL* than the The Sil ode Ow ISOCIOIN el •tbe Trust Deed 'lle sears-of * me" improper relatiocco any ftatL r, Bankruptcy, but then It ought to provide fee the previous act Of who might choose in inve Nth' "a - the executing parties. As the law now stab& such exceeded wife b an k. Did the Hon. Geed, "C 1 1 1 I .