The British Press; or, Morning Literary Advertiser.
London, England, 1826-01-27 00:00:00

rllorixcrAr, RANKS.

The prospectus of a " Provincial Bank of Eng!and"
with a capital of five millions, Is now eirenlatiog in the
City, where we are informed it meets with considerable couragement from the mercantile world. Should tier view%
of NI inistera he found favourable to the project, we um!".
stand that moistures will be takeq immediately after the
meeting of Parliament to carry it into execution :
PROVINCIAL BANK OF ENGLAND,
CAPITAL, Z6.004,00t1.
Notwithstanding the numerous failures that occur wove or,
vale bankers in England, there is no business more safe and joiSki_
able than banking when conducted by public companiee.
Their known capital and numerous proprietory give thin, s
credit which is never 'Mitten ; while they are ennstraired
the nature of their emistitution to confine their business to harki-'
on the strictest and moat legitimate principles. • • t
The instances are consequently rare in which such comptrie;
have cot proved highly successful. lu Scotland, where the hanke.e
business is principally engrossed by them, the capital rocks bea,
Is general from one to three hundred, and there are instance, of
some bearing upwards of I.ooof. per cent. premium.
obilp;
eerti
Charter
ehreirt
tar
rnti
,bshrumt
kheei nn
Bank
shcnaokstnobra
nnEi
England,
riiiivcieethn
limits
le
rs,iitsn this hob
ne aafi
1822, made an arrangement with the flank of England to palm the establishment of Joint Stock Banking Companies at a dietasm
exceeding fie miles from London, which arrangement was s,t
carried into effect at the time in consequence of the opposition item
likely to meet with in Parliament.
The late groundless alarms with regard to the credit of bank;
which has been productive of such fatal consequences, did not ex.
tend to Scotland, and the superiority of that system of banking
which it was the wish of lifinieters to introduce into this menu,
in 1822, has thus received a practical demonstration which sun
have convinced the whole uation of the utility and necessity of
such a measure. It ie, therefore. presumed that this next Statist
Ministers will renew their former proposals to the Bank, more
especially if they perceive any disposition to promote the forinstien of such tstahliehments.
It is consequently proposed to hold a meeting of gentlemem
friendly to an improvement in the resent system of enuner,
banking, in order to declare their sentiments upon the subject, and
for the purpose of forming a Committee, to promote the establish.
ment of a bank upon the following principles, embodlet in tier
shape of resolutions, to be submitted to the consideration of tke
meeting.
" That a Bank, to be called the Provincial Bank of Erglantl. be
established, in London, with 6,000,0 MM of capital, more or ler,
if it shall hereafter be found desirable either to increase or mini‘h it."
" That a subscription be opened for two millions in the int
instance, alter which the capital will be increased by eddinaes,
made in equal proportion, to the stork of the original subscribers who may choose to accept the add"ineal stork offered Mere.
•' That a separate batik be establ.shel in every principal town rr
county in the kingdom, 'fere xo..m establishments shall be equiv.-I to be formed, with a separate capital proportionate to the titmice.,
of the place, to be called the Provinviucial Bank of the place to
which it is situated, and to be connected with the London Company
in the following manner:_
" That two-thirds or three fourths of the capital of each of these
establishments be subscribed on the spot, and that one-third or
one fourth be subscribed by the London Company.
" That the Directors or these estahliehnients sheltie elected b
their remective local Shareholders, subject to the approbation ofy the London Company.
That the Directors of these Eetablishrnente shall elect their
own Officers; but the principal Officer or Officers who may be
required toassiat in the general management, shall be elected, sue.
ject to the approbation of the Directors in London.
" That the Director, of these establishments shall have the
management of their respective banks, put periodical statements
of the affairs of each shall be submitted to the London Board,
who abed have the power to call for accounts, and investigate
their affairs, by Inspectors or otherwise, at any time they shall see
proper.
" That the London Directors shall have the power of eh-
, missing, when necessary. any Officer of any Bank, and of callirC
upon the Directors to appoint another more fit end eligible person
in his place ; and also of dismissing any Director or Directors, ral
of calling upon the Shareholders to supply their places by a new
election, upon stating good and sufficient grounds for so doing.
And they shall also have the power of interfering with the manage-
ment where it may be necessary.
" That these banks shall draw upon the London establishment,
which shall act as their Agent upon the urinal terms, should Oa
be allowed by the alteration that shall be obtained in the Bark
charter.
That the London Company shall be managed by a Court of
Acting Directors, consisting of not lees in number then fifteen, red
not exceeding twenty four, as shall be hereafter determined,
together with Auditors, Honorary Director., Presidents. Vice-
Preeitlents, or Governors, Provided such officers be thought de-
'arable or expedient.
" That one-half or two-thirds of the Directors shall be expo.
rienced merchants, or men of business in London.
" 'that a Committee, with power to add to their number, shaft be
chosen, to form these establishments, receive subscriptions, elect
the proper Directors, dm for the London Company, apply to Mi.
!listens, and take whatever steps shall appear to them necessary to
carry the object of the proposed Meeting into effect, and to remain a
Committee until that be accomplished.
" That the constitution of the country banks shall be suited to
the local circumstances of each, and be arranged with Committees
of local Shareholders."

By this plan each country bank will erjoy the additional crerEt
afforded by the capital of the London Company, and a salutary
check over the management of its affairs. This will facilitare
the object proposed by the alteration of the Bank Charter. It will
increase the heneral confidence in the safety and success of these
establishments, and induce persons of property in the country
to embark in them with great readiness, while, by the agency and
assistance of the London Directors, they will be more wily
formed, and their arrangements completed.
As there is a much better field for banking in England than in
Scotland, the success of the Scotch banks leaves no doubt of the
success of the proposed establishments. In which success, it may
be observed, the London Company will participate, bz having its
capital invested in them in the shape of Convertible Stock, which
may be either diminished or increased by sale or purchase as way
be thought desirable.

The duties of the London Board, though important, will neither
occupy much of the time of the Directors, nor render a large esta-
blishment necessary.
If the Bank Charter be altered immediately, it must be six or
nine months before any capital can he required. In the meantime
a deposit of I per cent. wilt be called for to corer the expeoacs that
may be incurred.

TO THE EDITOR OF THE BRITISH' Plass.

St a,—llaving read, in your Paper of yesterday, that ti e
Commissioners of the Insolvent Debtors' Court mean, aft, r
the Ist of Febrialry, to adopt one at least of the suggestions
contained ia your Paper of the 19th inst., with respect to
the retainer to attorneys, I cannot but express my sur-
prise at the delay of an hour, when it is well known that
most of the commitments and surrenders will be made in
the present month, being the first returns of the Term, and
that consequently almost the whole, with their attendant
connexion, will pass through the hands of agents. Already
has the alarm among these desperate men become general,
and their thoughts directed to some other source of liveli-
hood. Not a 'moment should be lost in sending recom-
mendations to the London prisons, that their names may
he removed from the view of the debtors, and those of the
attorneys, accompanied with the rules of Court, affixed up
in their stead.

'The measure itself is undoubtedly a good one, and re-
quired no apology from the Commissioners, but it can only
be considered as one of many fundamental alterations now
absolutely necessary. They most not suffer themselves to
he misled by certificates irregular!), taken out at any pe-
riod of the year, or by men who have subjected theinselv, s
to the necessity of Re-admission ; much less should they
give a tacit sanction to those mea who are at this hour prat.-
t sing without any certificate at all, of which I could A: re
Revert)! irostattres. They must attempt, by some or all of
the very obvious measures I have already suggested, to rllt
a stop to the practice of fictitious, fraudulent, and collusive
arrests, surrenders, and reinov4ls in perron. They must
give publicity to the names of their attorneys and their own
rules, and, as fares possible, protect the attorney, not only
against the insolvent, but the swarm of stewards, calla, and
criers, who oppose and intimidate the respectable practiser.
'l'bey must allow hint to be a competent witne.s to any do-
cument necessary for him to produce upon his oath, and
personally to control and correct the delays and errors of tie
messengers. They should at once give a tone and chirae-
ter to their practice by a series of well-digested rules, in-
stead of the rules hitherto only occasionally made, eitht r
from the spur of the moment or the call of the public press.
When they shall have attempted this, and made their
balance sheet more intelligible, their Court, which is now.
unhappily for the public, become permanent, will be at-
tended by attorneys neither int an nor ignorant, nor indif-
ferent to the interests-of their clients. 1 am, Sir,
Your very ()hilt& and obedt. servant,
Jan. 2C), 1826. A PRACTITIONER.

Mr. Cadman, of South Ham, was found demi in his bed
on W. iluemlay morning. The Accessed, who was formerly
a mercer in Park-street, had been out coursing on the pre-
ceding day at 6errarti's-cruss, and went to bed in pad
health and spirits with his wife, after partaking of a hearty
'nipper.