The British Press; or, Morning Literary Advertiser.
London, England, 1825-03-18 00:00:00

ITIONS of the BILL end OBJECTS of
!TABLE LOAN BANE COMPANY.
aawtslSs
His Royal Highness the Duke of YORK.
TICE-PRESIDENTS.
John Bent, Esq. H.P. Stephen Lushington,Esq.LL.D.
Sir Richard Birnie, Knt. M.P.
George Bridges, EPA. M.P. Ald. Stuart Marjoribank I, Esq. M.P.
William Holmes, Esq. N.P. Samuel Scott, Esq. M.P.
John Geo. lAmbton, Esq. M.P. John Smith, Esq. 31. P.
DIRECTORS.
Sir W. CONGREVE, Bart. H.P. Chairman.
S. B. M. BARRETT, Esq. M.P. Deputy Chairman.
John Burnell, Esq. George Harrison, Esq.
J. Brocka, Eaq. M.P. Sir Peter Laurie, Ent.
David Barclay, Esq. C. Elton Prescott, Esq.
Benjamin Carr, Esq. Matthew Surtees, Esq.
Joseph Clarke, Esq. A. A. Surtees, Esq.
Henry Clarke, Esq. Robert Sutton, Esq.
Francis Croswell, Esq. W. Thompson, Esq. M.P. Al-
t:Wood Davies, M.P. derman
John Dunston, Esq. J. Walker. Esq. M.P.
Joseph Fry, Esq. John Wilkin, Esq.
Isaac L. Goldsmid. Esq. T. Wilkinson, Esq.
Thomas Hamlet, Esq.
AUDITORS.
Attwood, Esq. H.P. M. Lievesley, Esq.
W. S. Clarke, Esq. Thomas Metolfe, Esq.
T. C. Glyn, Esq. Richard M. Rai)fes, Esq.
TREASURERS.
Messes. Frye and Chapman ; Messrs. Spooner, Attwoods, and Co.
SoLictwoa--John Wilke, Esq.
Interested and ingenious persons have, by illiberal misrepresen-
tations and extraordinary manistivrea, endeavoured to excite preju-
dice against this Company, and to misguide the public mind. They
have prevailed even on the Corporation of London to interfere in a
matter not affecting their corporate rights, and tending to benefit,
rather than prejudice, the industrious and honourable freemen whom
they represent.
To dissipate the delusion, and to counteract insidious designs, it
will only be needful to explain the nature of the Bill against which
they complain, and the objects of the Company they desire to
destroy. As to the Bill, it does not create or establish the Com-
pany, who are already established ; nor does it confer on them any
one exclusive privilege or right. The Bill is only a Bill to enable
the Company to sue and be sued in the name of their Clerk. It
therefore cannot be disapproved by the highest legal and financial
authorities in either House of Parliament, who have repeatedly
declared that such Bills are as convenient to the public as to com-
panies., because they ticilitate proceedings against companies, if
they should incur a debt or be guilty of any wrong.
Nor au the object of their Company be more exceptionable than
their Bill. That sole object is to advance money on goods, at legal
interest, to persons who need temporary loans. It originated in the
just complaints made by the poor, as well as tradesmen and manu-
facturers, of west difficulty in obtaining occasional assistance with-
out the payment of excessive interest and a ruinous loss. To the
extent of IUL pairnbrokers are allowed tb lend money on goods;
and the Company will be compelled by the Bill to charge Hi pw
cent. lea interest than pawnbrokers on all advances to that amount.
By that abatement of 20 per cent. the Company will of course pea
portionably and greatly relieve the very indigent, and by their aes
rangementa nish the number of crimes, which the facilities
afforded for a deposit of stolen goods with pawnbrokers have long
tended to increase.
But a vast multitude of persons daily need the advance of Larger
sums titan 101., and they have no means of supply but by applica-
lIIM to ussinous money lenders, or to pawnbrokers, who will ad-
"once such greater sums, but charge lb or 20 per cent. on the
money advanced. That industrious and numerous class the Com-
Pally will especially assist ; for to all such persons they will lend
.:•nney at b per cent., making no other charge than such legal charge
cur warehousing as will just reimburse that expense.
It must therefore be as obvious as incontrovertible, that a Com-
,,any with such objects must be a public benefit rather than an
,ffeuce; and that it is a Company which creates no monopoly, and
will Interfere with the trade of no banker, merchant, shopkeeper,
or artisan, byt which, by assisting the reedy or the industrious in
the time of distress, will support private and public credit, and
promote indisidusl comfort and the general good.
As, ho we ver, the goods deposited may occasionally be unre-
deemed, and the Company may direct their agents to sell such
goods, and charge a moderate commission on the sales, it has ap-
peared to some auctioneers employed by pawnbrokers that their
busyness may be decreased. They have therefore combined with
the pawnbrokers in an opposition calculated to perpetuate their'
own monopoly and their enormous gains. But it must be per-
ctived that no pure and public motives can stimulate their efforts,
and that even auctioneers generally cannot possibly be affected
by the operations of the Company, unless so far as sales of goods
a. great loss and much expense may sometimes be tueventeel
by the accommodation which the Company will afford, by a loan
0t looney on goods that must otherwise be rather sacrificed than

Ifler this correct and candid statement of the objects of the Com-
p-iv and of their hill, it is hoped that the intelligent and liLeral-
i onded who compassionate the poor—who would grant young
t:adesmen their assistance--who would rescue the unfortunate from
Me grasp of usury—and who would promote manufacturing enter-
rite and commercial accommodation—will concur with the royal
art illustrious persons wh, have patronised the measure, and
afford to the Company sad its objects their approval and
pport.
USte of the Composy, 21, 01141 Mo- s Levet.