The British Press; or, Morning Literary Advertiser. — London, England, 1807-09-11 00:00:00

ven P_P" ;k A/ ,ders 4•••. frl • 1 14 F . Pi4 c r's Pa 's H. Sot. ra. an. to s p . eke% fu be. to up d. ea 'd4 the tuna tier tr. tor.d; .tar aad with Ir. own, Hie ?Nu 'Pen Peer ring 'red his ions ders Ipoi I t2e. erly ged ker. tees oy a that t to tor. se; e. IC 1. 6- tI )t. is h • ot SECOND REPORT, VON CONINIITTZI ON THI ►UBLIC IITINDT• TURB, SIC. 07 Tilt UNITS° CIN6DUN. THE BANK OF ENGLAND. Th e Cminittee, appointed to examine and consi (l.l. wh regulaions and checks have been esra Wished. to order to control the several branches of , be Public Expenditure in Great Britain and Ireland; and h•ivi tar the same have been (Sec ti.ai ; and what further measures can lie adopted fir reducing any p ot of the said Expenditu.e, or diminishing Ole amount of Salaries and Emu la ;nuts, without detriment to the Public Ser- T ice ; Directed their earliest inquiries to the manage ment of the P.it)lic Debt, which the Committee no Finance in 1797. p tinted out as the first of jea under the Head of Expenditure, in their XlVth report. Tee Annual Charge is of no inconsideranle magne t.' !e; and tlw following observations are intended a.) ;hew how how far it may admit of reduaion. r ite of allowance settled,in 1786 has not been 'trim! since ; but no documents are preserved at the treasury, or the bank, containing any calcula tions upon which it was founded. I'he proposal was made by Mr. Pitt, under general considerati ons of the increased amount at the debt, and a re liance on the disposition of .‘ the bank to give every reasonable accommodation to toe public." 'l'6- time at which the agreemeot was concluded. ;Nord ing a prnspea of continued peace, could present no expeaation of a speedy Augmentation of the debt, much less of such an augnaentAtion as has since been incurred. Whatever may have been the computation upon which the bargain was concluded. it is to be observ ed that the lowest rate at which a part of the debt was then managed (being 3601. per million) was not adopted as tile standard; and consequently, upon the annuities created in 172 u, an inconsider,- Ide increase of expense accrued in equalzt..g the whole, while upon every other part of the debt, a large saving was effeeted by reducing the allowance horn 5621. I Os. to 4501. far each million. The management of the public ;nods differs so materially in praftice from ail other mercantile or banking tratontaions, that it is not easy to establish a stied iaory cri:erion for fixing the commission at which so extensive and complicaied a concern ought to brondueted ; but there are two instances. use same in kind, and differing only in degree, winch deserve attention, as they tend to throe sortie light upon the subjea. The first of these is that of the South-`i,ta Com pany, which continues to manes- its own poruou of evilest according to the original allowances, the ar. sangements with the bank in 1786, not having been extended to this company, a circumstance which at traSei the notice of the Ceminittee on FIII4IILe. (XIV. II .) who remarked, that, whether any 'te ther redo Rion can or ought to be ma lt in this rate of allowance," was a point for tew wisdom of parliament to decide." Upon the part of the debt which forms the Smith- Sea Stock, the rate of charge is not uniform. The proportion of 5d21. )3..61 to each million, obtains vah regard to the greater part, and the ellowance upon the remainder bears the proportion of 564i.10s rich million. The whole expense of met , ,ging tin concern by the company was, in the y- a: e,d ing sth January 1807, 10,7271. of which 3,t1921. was paid to the sub and deputy govetnors and di teflon', in number twenty-an:iv, and 4,7351. to the clerks and otracers, in number thirty-s.t. rn • sum annually paid by the public to the south-Sea C'm pany, is 14,7131.105. 6d. and about 701 more tor tee. and allowances to the cashier 'rhe oportimi which the salard.s of the clerks bears to the whole expenditure deserves notice, and also the great num ber cf the diiiraors, almost equal to those who superintend the extensive business of the bank. The second example occurs in the more recent agreement made with the bank of Ireland, by sta tute 40 Geo. 111. cap 3. in which the precise allow ances then and now given to the bank of England, were Lard as the standard for managing the Irish debt, though the Jet of Inland did n it, in that veer. equal tile capital of the South-Sea Company, being between 21 and 22 mil.tons. The management of the public debt in America may also afford some illosti. hots of this 'Oka, thougo it differs in one maerial respe'l, from the business transaitted by the ba.ll: of England, insi• much as the banks of the United States Us,- &Make mei ely the payment of the dividends, the transfers being made at t.c puotic offices of the Government. Upon this account, and Flom the limited number of stockholders (who do not ex. steed 15,003) their trouble, expense. and risk. scarcely admit of comparison with the hank of Eng- L,nd. The American banks transaa this business free of all expense to the Government ; the ba lances left in their hands, which are used for their advantage (like those deposited with any private banker) being considered as a sufficient convert:- Litton. Assuming as an incontrovertible proposition, ap plicable to all mercantile concerns, ilia - , in ~roperl ion as the scale of business becomes enlarged, the rate of commission may be reduced. and that a mo &rate commission upon a large business produces a greater propartionate profit than a higher rate upon onemore confined, it is obvious that a charge of al lowance, which may be reasonable upon 20 or 25 millions, becomes profuse and extravagant tapes live or six hundred millions. 'l'he adlual progress of the debt comes next to be considered, which, on the sth January, 1786, was 224,102.4241. and the charges ot management were then (accor,ling to the reduced scale at allowances) 100.8401. On the sth January, 1797, the year in which the Committee on Finance reported, the prin cipal of debt unredeemed was 279,892,4441. the charges ol management upon which, so in as con cerned the bank, were 115,8+31- Oil the hill January, IWO, the year of the renewal of the charter, the p►incipal of debt unredeemed was 376,181,8011. and the charges of management, received by the bank, were 170,0531. The debt, unredeemed on the sth January 1807 s was 150,441,8141. and the charges of management, received by the bank, were 265,11 i SI. to which must he added 5,6871. on account of the Austrian Loan, to ~ling to the same rate cd commission. Ihe al lowame at 40001. towards the expenses of the House, 'log 44 the original allowance of 1,8981. on leaden hi the Exeileqwer. both the bak sad the public Cr. plac,l in theionataaces sous*. tally the sate a. it lb* metes in question Wore carried to the bank, and constituted a befall • due to the take am a derwit account, darer "irsi to no rea r na. (tom other deposit. The total smenot or Lekhequer Money .'. 1 7 which the tank may thus have piohte4, wee ' P. , thequer I Bank I Tv , al swab. H•tts. N• te.. •—• In 1806 Jan. 10 Elb. Mang*/ Ditso .ze Awd 24 :May z'S June 8• July IS Avg. 15 Sept. 111 Wit 10 Nor. 7 1:10e 5 11 I 949.u0u 4,745.009 4,7,9,094 4,739,00. •.997.000 5,941,04 6,94 9,999 4,3' .5,90 4.749, 00 4.1116,00 A 4102,000 4.5t70,tu0 9.070,10 u 4490100 80.p.1) 9,1)00 2,t047,000 2,754,4P0 4,7.1000 6,7A,900 5,0G8,910 G,9•59,400 9,023,200 4.42 00 5,10/3,240 0,041,100 9, It I 7JO 4,7114.800 ',SOO 7,410,200 1 i,9 in 11,30.) 1,0 1 7,400 , 3,014,8q0 15,440 1.014,200 4,515,100 4,019,1 e" 1.512,404 3,007.2 0 3..12,2t0 13,162,0u0 21,189,000 1 6,031.000 . Total average Wows Under the fo firth head, of the Cam miss,,, .ell AV Foyed the lit”tl.3lelp . . . 389,197 _ And londer the hf.h he 4d, of Foce-1- quer ‘4 , ..ev, 140, gr,e the .orh October, being thc day rn w,, ch tote Exchequer Painethl, Accounts were made up . . 8,1?1,7NI • _ . Tv wh.ch, if the money ee , ted in the Ame rica . Cor.m,ionert erhlM 11.461,100 14,M,2.36 Tb. sung , stuu ' unt of this total sum is . 6,1117,928 L.l. ;#149.196 To thio elm rosy he added 3 balanee of a tent pont? nature, +loth has rem. et,' fo- no iuonttti d time in the Bank, on ace •thit of theCom n.etotnierl un•ter the ennventoot with the United Slit-. of Ametica, and winch n put (AL 600,030 eepntikct anJ drateekly witted to . . L. 11.104,919 Your C.mimitter are aware, that in thus exhibitiqg avenge balances id e...h in the Sank, instead of the several actual bslances, trey may possibly be considered as presenting an un fair of ilia suntan; hut it must be otoerired, that how ever fluctuating many of the individual balances may be, the aggregate is never likely to eery mates tit ; and that in par. titular, it the balances of Exthequer am., which are ton derate In the early part of se , Is quarter, ind extremely large towards the conclusion of it, are compared with the balAncet of the COITIM . I.IIIOfIVT3 for the Sinking Fund, and those nn ',- count of uoyniA Dividends, barb of which are large in the be gin ..... gof with quarter, and am towards the end, the aggre gate sum unoer these principal heed, will be found to furnish a statiotraiy balance of a 0.04 impeetant amount. The She:i ntents from the Kink, snd the Exchequer. which could eun veniedry be rums -tied, do not afford an exist statement of the whole actual balan.e of public runner in the hands of the qn a gnat number of separate arid given days; they, haven't, ;ye the following results, via that on the 11th Oflober, 0106, the time immeli . ..aaly preceding the t r aymeot of the dividende.the son. an the bands of the hank, under lb. lira-mentioned heal, of Customs, Ste. win . 176.974 If .der the eacund head, of Pay matter Gene ral, fro. . 1,378,900 . . tinder the third h• ad, of Coe:aimed Dividends on be 9t tkt. 1 ,I3s. I 7.1 Deduct 376, - 39 656,436 10.167,959 Malong the Tatal on the 9th, 10th, and 11th October, trto6 . . 11,749,907 i.e 'mil act lit 641.6.1C1PS will be . L 12,198,2,6 The y Also eh et, that on Um let November, a period co but thr R fivrek to the prem. t 04 the Die.dentlt the 11•1411.41% Under Is , heat bead, of Costume, ie. wOllll 6 &.lila ureter Use wool, of Pavniaeter, !Lc. . . 1.856,051 Owlet t• e th.rd, Unclaimed / 1,559 144 Diehtend. . lAA .1 as beNe . . :46.739 1,3,403 11,1e , ier the fourth lieu!, of Sint.ing t 2,21,0,1 Band . . . N..d un ler the, firth, of Exchequer Mo jr, t h vw. re, oil the 7 h bet, the dar en winch the k.xchever %Jo 01. were wad.. it:r ;Sc. ins I. 4 270,03 Et .!1 q:e.r iidlr , and L. 4.1 li,riJO Bank Notes) . . 5,781,8'0 •—••••••• 9,182,17 G 11,10,16) Money of American Commissioners . . 471,0 i 9 Making the total actual balances on the lot and ith November. l 6. . L. 11,629.189 They also rhtvr that, Uts the ht Doc. ISM, the Customs, 1 L. 9)4,735 &c were . . . . Ott 119th Nov Paymaster, Ste . . 1,433,115 &So hi Dec Detlatosed Di- / 1073029 tradecds . . . 1 pettuet 376,739 79ti,90 On Melt Nov. Slaking Food 1,511,815 sth Dee. Earlattrar Mlle 0,870,000 Sank 14408 . 3.027,20 J 6,877.200 9,189,416 Together . . . L. 11,549,29, Money a AsencLo kaaasoimsiouen . . 475,tir9 Total 12,ti11,9•G4 They &Inaba,' that, Do 8 Nov. Customs, Ike. were . . 987,904 On Do V..yinaann, se. . . . 1.413.11) On D.. Untlannamt Dos. probably 1,460,N0 OW oat 376,759 1,04MA1 On Dn Cubing Fund . . 1,116,56 7 N... Eac!,equirr Exchequer Rita . 5.427.000 Sauk Notes . . . I,sivioo 5. 78 4. 00 4,961.4 t• 117getbos .L.tu,YsG,t7 l Moony of Aaericao Consoissoosbaeo . . 473,4n9 Total . . 11,461,2uU It Owl appears that the egirepte actin] balances, us tour daerent period, at the quarter Sth January 1007. su far a these bslattees eats be stated, tisA:teate.llloll betwun the cause of L. 10,986,171 ? 5 L 11,723,207 475,0g9 an d 475,07* The exca►a of the actual balances of this period above the average balances bet re stated, arises from .he circumstance of its having been thought proper, in Irt4ting those average balances, to ti.rm the estimate of the average cash in the Exchequer from an account of the whole year. The magnizusle of these balance►, and of the profit whica must be derived from them (a profit which is likely Us imam busing the war, but which • ..,--"711111"—r-77.-- 4,000,0001. purchased float the Sotith Sea Com . , Any, Ste in addition to the beforsementiosied 1.14113. The increase in the establish oz. t ,t the bank, which has been rendered necess 7 oy the proves. sive augmentation of this br aof their bu.iness, con,ists principahy in a large addition to the nuiriM!r" clerk,; of whom the w nle number employed in the poblic business, exclusii ly, or prii.c;pally, was in 1788, 243 ; in 1796, 313; Rail in 1807. 450 ; whose salmi's, it is presumed, may be calculated, at an average, at between 120 i An I 1701 for each clerk ; taking them at 1351. which etc eds the • ge of these employed in the South-Sea 1-Luse, the sum is L 40 • 730 at 1501. the sues 4 . 67,54 at 1701. the sum is . 76,!) .0 either of which two last sums would pr Thably be suf ficient to provide a superannuation fun 1. The very moderate salaries received by the Go vernor, Deputy Governor, and bit eftors, amount to between 7 and 8.00014 acid only a pan of toese must he considered a, compensati•4l for the trouble of superintimding the public busi est. eavenses and !amities may be ovtimated at . L. 15.000 • PI Mahn,. a4ditionvl. and Itvpiirt, at about . 10.000 Lva Fvpanses, and lasses bv trauds va4 Gawks, at o'mt 10,04 . . Without being too minute ia endeavouring to cal culate what increase may have taken place in thew last srticles, of whieh the bank do pet keep any &gin& actount, it is to be noticed that the whole increase of the omcers who actually transit& the bu siness, in the last eleven years. is only 137, whose annual expense may be from 113,44)1. t e. 1,4901. ; the adirtion to the ot'ver permanent sharges being probably about ose-half; or two of that sum ; but t at the ..al allowance Vernanagement in the last can years. more than 155.0001. This ge neral enitj aural neonate of the expences actually incurrea by the bankexuioi s, if ue nesr the truth, the charge witich would have atettptie.l tNe manage ment of this business by Governer' r •revioos to the arrangement which to k place• in it had been thought .2.visahle t • a :•ipt the suggestion, for. away made by the Au...rtois ut public accounts, when this whole matter was ramrod to them by the treasury. Their repot, already printed in XIV 30. well de -serves the considervion of th.• I - louse ; arid particu larly the estimate they formed of tLe real value of the service, ehich they sums might be executed at lees than one-tl.ird of rh' charge at that time in curred. that is. at a rate of allowance under 147 i. 10s. for each million, whri rue debt was no larger than has been before stated. Year Committee, however they may approve the general pnneiple of the teasn..eng contained in that report, are tar from thinkit.;; the suers* transfer of manAgemee.t would Ease b rn expedient, or desir able in inch, being of npinion that the debt can be managed nn where mote co senuhlioutly, and that it ought no where to be mauagedso cheaply, as it the bank. 'rho Committee on Finance so fit agreed with the auditors of vie politic accounts. as to intimate an opin:on in favour of the reduciien of the existing rate cf allo.rance for managing the public dew. They state " that the bank, um. and ittvir.. Cie charges r,t mahagement. are accustomed In eceive allow...ma -torn Ut, public, at the rate of 8051. IS.. 10d. per minus*. t-ir receiving contribu•i !is for loans; and 1400 t or 'wartime' More, ft: c.s cribu final tr - .e lottery ; and mat they bare tic/ ietretit of bolding all the ran ,eir for halt-yearly dividends, beside , havinr the custody of cant fur the navy and army tervices. " Upon reviewing therefore these circumstances in thy present tomes (1797), and without question. ing the propri ty nt the arrangement madc in 1786. when the pa' he debt was so much interior in ant; u t, your Cmittlit.ee cannot toenear to atate it as qii.s titm still deserving thi attention of parliainenr, ther a turther rediroftion of expense cannot, and ought 'lot. to be made upon this branch of public expe:iditure Besides the maneg-ment of the debt. the bank have large trat.sactic..s with the public, affording a considerable mini to the corporation ; into tie na tate and am.•not of wiich, for the purpose of laying the whole matter befi.e the Hou.e, it is proper to enter. The amount of the several balances of public money, lyin, in their hands. are first to be stated. 1. The ever tee trilenee of the emit kept et Yoe Ble . { .luring the thn • mom's eodme the Alt 01 JAtia,ry ten 7. ,t,er the head of Customs, Zee mid sump,. appeals to hate been abent . L. 457,V00 _ . . sort mrler the heat of the Post 014. e. du►i'' cr eep§ months .n 1847, in womb year nut account pmt 6114 oeeued, about . 80,300 L• 477,500 2. ?he arroyo ►alattee or soodry other ac counts, durins a mother p Awl a tore.- ',writhe. to Stn leuu•ly, 1807, ing. under the Lead .4 Pas- SOO.lar Geloural of the levees, Trea.ure► of deo Ware, Tr a.urer tho Or Names, Ilaso4k. Mar G+l6.-fal, TflUillpan Oflet, Ap:►t teencral of the Volunteers, I reesurcr of Charism Hoapitat, Sureevor General of Wo..ds and Forgets, Ac countant Genoa, of the COWS of Cluocory, am! eCialainliol3Bls for tie Ituktleitut of Ike Laud . 1,131,94 3. The seen. mow of Unchained Divi dends in the basil 4 swam* durin g the year 18u.., appears se into been . t,3-11,1,34 Deduct the seer lent to Grebtenlllol3l ou that remnant without intense . . 376,739 -^."• 964,415 4. The average berms during** pence of three months, to sth January, 1307, in the hare of Cousarasioners fur eh.: Reduction of the National Deb t , arising fro a the Dividends received by the Curnension rs on to. Stock purchased by thee, and Insaa the issue of Suit . tag Fund Money . 1,435,r7a 4,461,963 3. A further balance of east. le • very lenge co .... .to of suns lying eeseitislly in the Exchequer, which neeeessielps actually eau. etiolate for the benefit of tno Sank, and aee for the mess par , applicatale et the end of eaels quer. ter, to the payment er Osfideeds. it is the eau bluned usage at the Bank to draw 416117 from the hequi.: the several su no in quest to , . as lbw we erne, depositing indeed Exchequer Ala la return tar their own Notes, which siert...misted IS nosey. This deposit is to be eontiderterl simply as a sepia ray for the ;melte mane. down away ; as the growth; interele ert the lichilisst Bills Weep entirely to the Dank; and in elle ill the laths. quer kills pesiessed by the Lek. which they thank fit to apply *this rime t't pen Inge& fiCHBOt fur the •Itcole sem the surplus wmaias rip the Locbetieer in the ;haps too Ilatft Illetesow The eines thus taken net of circulation *Mount acetates/Ali , is Metal miUioaas and by anis dib , . - 475,02 4 ) 475,00 I • • • ; May be sulqita to clacni!.utiun on the return of peace) has attraded the attervion of youi Committee no lees than that of the allowance for the management of the National ilrSt. The annual interest ca:cu., lated Irian them amounts to between 3 and 5:0,0001. hi the cast of a private banker, floating b dances cannot be considered as prodndive of a profit equal s err nearly equal. to the whole interest upon them; because, both the charges of the ma tiagemen. era, concern, and the interest ln,t by marntaitaiag ere stock of ready money deemed ne cessary for securing the punctuality of current pty meats, operate largely in diminution of sucii prcat ; but in the case of the Bin:: of E:igland, the charges belonging to their banking trantadions ith Go vernment rr6 t evidently he small in comparison with the profit no those extensive transadions. the aggregate balances of public money, in she hands of the bank, have been shown to admit of n s great Am:Nations ; nor do they require to be provided for (especially at the present period) by means of a albeit of onproditaive money, the notes of the bank itself being employed to meet any such occasion. Your Committee therefore are inclin- 3 to consider a sum equal to five per cent. interest, on the average Jsalanees in question, to be not tar from the amount of the profits arising horn this source. There pro 6rs undoubtedly are intermixed with the other pi oats of the bank, but their general amount may, without difficulty, be distinguished and ascertained. Es cepting the sum gained by the management of the public debt, and of loans and letrerits, and by trade in builion, the whole gain of the bank mat obvi ously coast of interest on various sums le'; , ; and the amount of the daily interest so accruing, mast necessarily bear an ex.& proportion to t.:e total daily amount of the several funds in chair hands, dedudion being made for that part only, which is kept ii.vested in cash and Whoa, these being ths only unproduaive articles of any moment in which their funds can be employed. But as some doubts may he exci t ed by the annex . ed evidence, rtspeding Cie reader:live quality of some of these balances, it seems proper to ester lolly inn the subject; in doing which, the circum stances which acco.npany and follow ',ten augm,nt ation of the Government balances, must be minutely detailed. Whenever an additieri is made to the amount of these balances, it is effeffed in general by a pay ment into the bank of Their own notes. The netts so paid in are cancelled. Thus a reduaion tak.re plae in the circulating notes, and these notes are a fund, which supplies. in tn.: same manner as the Government balances, the means of lending a: in tereat. Every such reduai n of notes, however, must be considered as tempor eq. because the main.* t stance of tis- cii culating bank paper at the access. tc.n:d, .4 I.zarly the accustomed point. is fel.. by the bank 'vs and merchants of the metropolis to be n-cessary to the regularity rf current payments. Bills exchange are therefore offered to the bank to be dis:ounted, in such quantity as to restore the a:Triomf, or nearly the amount of notes cancelled means of any increase of balances, unless the bank itself, by dcliveeing out notes in payment for exchequer bills which they may have bmug r, or for loans to Government, should have rende ed the ap plication for additional disc:wilts annecessary. This arplic itnrn for additional discounts, on the occasion of an increase of balances, must indeed ordinarily precede such increase, aed furnish the AMOS of effating it. That the great augmentation of Government balances in the bank, whit', has taken place since the year 1797, (an augmentation amounting pro. bably to seven or eight millions,) has not perma. nently diminidwd the notes in circulation, is proved by the annexed account of notes in circulation be tween the 7th Feit nary, 1795, and Ist February, 1807, by which it appearss that the notes, exclusive of 11. and 21. notes, were On 7 Feb. 1795 . . . 17,970,500 6 Feb. 179 i . . . 11,215,1.00 Anil on 1 Feb. ltio6 . . . 14656,770 Aid 1 Feb. last' . . . 124.4,4130 The flatuation in those twelve years (with the ex cel•tinn of a short period preceding the suspensi•.n of th- cash payments) was only between the sums of 11,559,330, and 13.1345,50U1. to which last-men tioned turn they amounted on the 23:h January, Mil, a period net long subsequent to the day of paying the dividends, when a mare than ordinary issue of paper must be supposed to have taken place. Since therefore each augmentation of the Government bslaucts, tiinugh it may be at first at ten,ted by a diminw ion of 'sank paper. is followed by a proportiona'e re-issue cf t .at paper, and since, in return for the paper so re-issued. additional bills are discounted. additional exchequer bills are bought, or ad litional loans arc furnished to Go. vernment. (all articles eqnslly yi•iding interest,) it failows that those additions which are mad to the balances must be considered as producing a -..oirc sponding increase of hlterest. The proport•..n wiil be .cast, whenever the notes suppressed are ctaali restored, provided the quantity of cash and butt. ss within .6 precisely the lime. Wnether the cash and bullion in the bank have been augmented sin-e the same period of 1797, and. if augmented, whether in any matetial degree, cn the ground of the increased magnitude cf etc ba lances due from the Bank to the Government, it a question into which your Committee cannot. Iron► want of documents. particularly enter. They coo. ceive, however, that it an augmentation of the rasa and bultio•. be admitted, it must be considered as ptincipally intended to meet any demand to the Bank may be caposed by its circulating paper. ■nd especially as a provision tot the payment r their one and two•ptund notes, the circulation of which may cease wt enyver the Bank shall bare re sawed its payments in cash. In the evidence upon *leis part of the subjeft, it i admitted, that the notes or the Bank are proc naive of profit ; but it appears to he ass imed, mat the Government bal.o.zrs are only so in proportion 41 they tend to augment th.• amount ut nines; ette a s Your C.amaauet are fully persuaded that both tia *Liners and liote, are, and must necmsailly be, pro. dußiTe. The funds of the Hank. which are ihe sources of profit, and wiles constitute the m -azure of the suds hey have to lend, (suhj 0..1y to 4 deduthon uv iccount of cash and buloon,) may be classed und three heads. Yost, l'he sum terrier.* from their Pr oprients RI 1 sura Il ass (Oder ears • . I