The Express.
London, England, 1857-05-08 00:00:00

ROYAL BRITISH BANK.

Kr. Stapleton, M.P., has addressed the following
letter to the electors of Berwick-upon-Tweed, Tweedmouth,
and Spital :
" Gentlemen,—While I follow the example; of the other
candidate* et the late election by homier; an widens to thank
you for your support on that ODUIDOM it may not be amiss
that I should take the opportunity of offering mine remarks
on observations which have been made on the part I took in
the conduct of a joint-Mock bank with which I had the lUD.
fortune to be connected fora few menthe. The calamity
which betel *hie bank was in no sense attributable to me,
but it has most unjustly been attempted to throw on me re-
spomibility for acts done long antecedent to my connexion
with it, and for others of which I had and could have no
knowledge.
"It is beyond doubt that I was induced only a few
months before the bank stopped, by fraudulent represen-
tations made to Me, to connect myself with it, and that
I did so in the full belief that it was a proeperons under-
taking mewed by rentlemen of commercial end banking
experience, and enjoying the full confidence of the pro-
prietary. You are shady aware that I never borrowed one
shilling of its money or disported of a angle share. My sole
object in taking part in its affairs was an honourable and
useful employment of toy time.
"No one denies that the stoppage of the bank was
attributable to loans and advances made before I joined it,
but it is charged against me that I did not act with the
...44iiry
Grp end determination which the slate of the ensieerneim
sow requirei; in other words, that I did-SW
Mop the Mole at an earlier period.
"In reply to this I assure you that regard for the in-
(memo of other. alone induced me to continue in the bank.
Bad I considered my own intermits solely, I should on the
first appearance) of danger have got rid of my alums sad
retired, fir I need not tell you that the trifling foe* to which
I was entitled as a director were a matter of secendary
importance to me, but, from consideration for others, I did
not feel justified in taking any extreme course until I had an
seuranee front competent and trustworthy persons of the
tec se position of the affairs of tne bank, and until I had tried
whether any moan* could be found of averting a catastrophe
Do =Sous se a stoppage.
/10tIng on this view of my duty to toy fellow share-
holders,. I need my beet endeavour., not =successfully, to
prevent "arther advances to debtors, to obtain security for
money lent, to remove the manager (the chief obstacle, a. I
believed, t.% any improvement), to remove a director who
had long bet ire I joined the content obtained advances to
an unjustifiable amount, and to substitute a new manager.
Further, I was a pony to the introduetion into the direction
of shareholders poseesesd of the commercial experience in
which I was deficient. I negotiated fur the transfer of the
bueinews offering to the purchaser the opportunity of in-
vestigating the affairs of the bank. I objected to any dividend
being paid and urged a call of AB. per share.
" Overruled in the latter measure, it is said I ought to
have appealed to the proprietary, or at least to have with-
drawn. lied I adopted the former course the whole subse-
quent catastrophe would have been attributed to me, or
nun would have immediately followed, and the violent close
of the hank's business which ultimately took place would
have been precipitated by me. If, on the other hand, I bad
withdrawn, I should have deserted at the most critical
moment the interests of my fellow &embolden. I Ferbered
continuing my exertions for the shareholders, and I war
with them.
" With the knowledge I have obtained since the stoppage
auto bank, it is certain that I did not euffiviently appreciate
the dangerous position in which the lank stood. I had DO
adequate means of ascertaining it, or the value of the se-
=ride, held; my belief was that only a portion of the
epithet subscribed by the shareholders had been lost, that it
was a question of the shareholders' interest only, and that
depositors were perfectly safe. Acting on this belief, no
unprejudiced person will doubt that had I succeeded in
affecting an arrangement with another beak (such as has
been lately made in the case of the Eastern Bank) the inte-
rests of dpositors and ehareholders would have been pro-
moted in the moot effectual manner, instead of being aggra-
vated by looms conaequent on a !estimation in bankruptcy
and a wasteful expenditure in law proceedings.
" So fair as I em concerned, both before and Finn the stop-
page I have laboured fer.ihe interest of all concerned; and
had the endeavours made by myself and some others been
responded to all the debts of the hank would em now have
been satisfied.

"Amid the anxieties and cares which these unfortunate
&dere have brought upon me it lea great satisfaction for
me to know that I retain your confidence.
" Thanking you for your suppmt at the We election and
for the continuance of your good °plaice,
" I remain, gentlemen, your faithful servant,
" London, May 0." " JOHN SIAPLITON.