The National Register.
London, England, 1822-05-06 00:00:00

BANK OF ENGLAND CHARTER.

A meeting of the Governor and Company or the Bank
of England, was held on Thursday. for the purpose of
submitting to a Court of Proprietors, a resolution upon
the proposition made by the Government to the Bank
for the renewal of their Charter.

It was introduced by the Governor, is the shape of a
resolution, approving the proposition of Government,
and recommending it for the adoption of the Court of
Proprietors. He prefaced his resolution by stating, thae
in the course of the last month he had various commu-
nications with the Earl of Liverpool and the Chancellor
of the Exchequer, upon a proposition originating with
his Majesty's Government to renew the Bank Charter,
from the Ist of August, 1833, (when, as the law now
stands, it would expire,) to the same in 1844, upon cer-
tain conditions which were afterwards embodied in a
letter which he would now read, from the Noble Earl
and the Right Hon. Gentleman, dated at File House,
26th April, 1822.
This letter, divested of its official forms, and the tech-
nical recital of the several Acts of Parliament which
now regulate the Bank Charter, contained a proposition
on the part of Government to submit to Parliament a
Bill for renewal of the Bank Charter from the Ist Aug.
1833, to the Ist of August, 1844, on condition that the
Bank would consent to the relaxation of that branch
of its privilege or monopoly (secured lay the Chaner),
which prohibited she establishment of any Bank for the
issue of notes under 51. in value, with more than six
partners in the concern, in any town or place within
65 miles of London. The said notes to be payable its
notes of equal amount of the Bank of England, or so-
vereigns.
Mr. B. SHAW proposed the resolutions, declaring their
concurrence in the plan for the renewal of the Chutes.
recommended by the Governor and Directors at the de-
sire of the Government, auil he took measion to praise,
in the highest terms, the manlier its which the Bank had
uniformly transacted the general business of the couniry.
In conclusion, he proposed his resolution, declaring the
concurrence of the Court of Proprietors in the approba-
tion expressed by the Directors of the plau fur the renewal
of their Charter.

MC. PAYNE, banker of Bath, declared, that he was
one of those tw•ho were once of opinion that the Batik
had not conducted their affairs with due caution he had
been misled by theorists and experimental calculation,
but upon a more reflecting consideration of the whole
case, he had altered his opinion, and he became cots.
vinced that the Bank had acted wisely, and that thuse
who imptinged their conduct were in the wrong.
Mr. HOARE, the banker, said, that he approved of
the directors yielding to the desire expressed by Lind L.
and the Chancellor of the Exchequer, to relinquish that
part of their privilege which certainly restricted j pint
stuck banking concerns in the country, although fur his
own Imo, lie was of opinion that little advantage would
arise from again exposing the nation to the inundation
of country bankers' notes. He was most anxious to see
the circulating medium of the country firmly fixed upon
a ►afe basis, and batik notes convertible at the will of
the holder into • metallic currency.--(Hear.)--lf
*timely this new tileaiiure should, in its consequences,
opeiate against *bat, lie should deplore the consent he
now gave to the present resolution.
Mr. Yours hoped that the present proposition would
not be decided on the spur of the occasion at this meet-
ing, but rather be left open for decision on a future day.
He wished besides to know, how these Country Bank
Notes were to be made payable in Bank of Etigland
Notes, as was said, whets it was known that the Country
Notes were chiefly one and two pound, and the Wok of
England now did not issue any at these sums. Dttl the
bank mean to re-issue small notes?

The GOVERNOR said, that the Country Banks had
the option of paying their pound notes either in Batik
of England notes of the same amount, or in sovereigns ;
and it thry had not the one, they could get suiyheit
with the other—(sovereigns.)
Mr. H. JACKSON, at some len4th, defended 311 the
measures of the Bank la their past intercourse with the
Government.

Mr. ROUND, (Ipswich Binker,) inquired if the plait
so long in nroare.s at the Bank of lifigiand, for uevising
a tootle of executing a mom beautnul and safe note was
now matured, or had n failed I

C;0111141fUR sail, Mat as the Back (front their
present judgment) %%ere 110 t likely to isstie Small notes.
tio deetsloll had been taken upon tile titan alluded w.—
it was still, however, tinder consideration.

lie 'T6(4.11141,11 %vas ihen pin and carried, (as the Go-
vernor said) unanimoud); AM we believe Young
held up Illi hand .Ig4lllal It.

A Portugal Loan has been treated for; 62 was
offered, the interest to be 5 per cent. but the Por-
tuguese pvcrtunent declined the proptmil,

4111 M •

.

158

Varitament.

HOUSE OF LORDS.

MONDAY, APRIL Y 9.
The Earl of LAUDERDALE presented a petition from the
owners and occupiers of land in forfarshire, complaining of awl-
coitural actress.--Laud on table.
NO:t FOLK PETITIONS.
The Eat' of ALB EA! Alt I.E said, he had to present a number
of petitions from owners of kinel.tu Nurtolk, complaining ut
agriculture. On that occasion he shoitid, however, only present
one of toe petitions, which was si.,ned by some of the must re-
spectable tanners end otlit:rs, tit the county. The noble earl,
atter a few general remaiks on the nature and C 41.11.4: of the dis-
tress, delivered the petition. It purported to be front the
owners of land, in the hundreds in hiolield, and NValsinghaiii,
in the county tit Norfolk. The petitioners identilied their case
with that tit the distress felt by site whole country, anti prayed

toe relief.
Lord CALTIIORP[ bore testimony of the respectability of
the persons from whom the petition wine. All (lie 'mine earl
Lad biLitt of the two Ilundreits trout whence it wits s,it was lutist
accurate.
The Earl of HOSEBERHY also added his testimony in proof
of the rest•onsibilityy of the petitioners.
Lord SUFFIELD presented a petition from the Hundred of
of Parham, iu the county of Norfolk, also complaining of agrti.
cultural distretst. The above petiuoila wets nxeivil, .41u buu on
the table.

DISTRESS IN IRELAND.
Earl DARNLEY said he was anxious, before the 1110IIPC ad-
journed, to make a few observations upon what be considered
extraordinary silence kept by his Alitjest,i's ministers, with re•
hpect to great and important matters presong so peculiarly at this
stale upon time minds of persons in all pat ts of the united king
than. It was los intention, it toe silence he deprecated continued
touch longer, tai call the attention of the house to the great and
:thinning distress in Ireland. That distress now amounted to
famine. Ile trusted the dreadful accounts from that unhappy
country were exaggerated, but he believed that nu person would
altafht but there was great and general distress. Ilis object in
wahine: these ob ervations was to ask the noble earl (Liverpool),
whether the :mount of this distress had reached his Alajesry's
I,;overninent. It ceitainly would be a tatisksetion if the !louse
el Loots and the public had 4-1:11C assurance on the subject.
The Earl of Li V ER pi poi, had IR/ difficulty in answering the
question. It was undoubtedly tree, that in some parts ot Ire-
land, though nut to any great.extent, there was a great deal of
distre s, and he had no hesitation in saying the subject had not
escaped the vigilance of the government; measures had been
taken in contoitnity to former proceedings under sinrilar distress.
to provide a mint:ay. With respect to any general arraNcineut
for die sale of hbuntldbt produce in din; cotintry,he knew of no-
t:ring that would go toereate a famine in the lo.rg run, inure than
the interference ot government in tia• subsistence of the public.
It was by allowing individuals to follow their own speculations,
that the markets ll' this country were so well supplied. A fo-
reigner of distinction liad once expressed his astonishment how
'London was so well supplied without regulation, and he found,
upon inquiry, that the abundance anti excellent s.pply was
because theme was no regulation. liis Majesty's government
were t.atisfied, from communications with the noble marquis
at the head of the goeenoticat ot Ireland, that every thing
would be done to ulreeint.: distress that could be done.
The subject then dropped.
A petition was presented from the members of the Chamber
of Commerce at Belfast, praying for Parliament to lay a duty on
foreign butter.—Laid on the table.
Tnc Flax and Cotton Bill, and the Summary Law Proceedings
Bill, went tlitough conintittee.s. and were reported walkout
aniendurents to the house.—Adjtfurneil.
TIVESDAY, APRIL TO.

The Duke of AIONTBOSE presented a petition from the
Curpotatiorfof the Royal litugh of Stirling, tigainst tile el.tell.
WWI of privileges to tae Boman Catholics.-1 tie pennon was
read and laid on the table.
Mr. 11. Dam, trout the Commons, brought up the Bristol
Harbour Bill, wltica was read the Sint tune.
The Flax and Cotton Bill, and the Summary Law l'roceedings
Bill, was read the third time, and passed.
The house then adjourned.
WEDNESDAY, MAY 1.
A message from the Commune was brought up by several
Members, tnfonning the Lords that 1). H. Home. Esq. M.P.
ties permitted to tegtod a Committee of Privileges on the ‘slarch.
loom Peerage.
Lord AIOIII.EY presented a petition from the ship owners of
Liverpool, against impo.ing tiddiuonal duties tai Canadian
umb r.
The petition was read, and laid on the table.
The Irish bank bill went through a Committee, and was re-
ported without amendment.
Several private bills were forwarded in the respective stages,
and the House adjourned.
IlittatiDAY, MAY g.
The house met at four o'clock, in a Committee of privileges,
upon the claim to the Marchniont l'eerage, when Mt. Wether-
sill was beard for the claimant.
After Gustavus Hume Itochtfort, Esq. M.P. for Westmeath,
had been examines! at the Bar as a *lmes., by Mr. Brougham,
Luther proceedings were adjourned to a tutor,: day.
Mr. Ellis, trout the Commons, brought tip the Dublin Found-
ling Hospital bill. Several private bills were also brought up,
anti react the first time.
The Earl of TIIANET presented a petition from certain
I)i.senters at Kendal, in Westmorland, praying to be relieved
Loin disabtlities impti•ed on them by the Manage Act.
The Duke of BEAU rota presented a petition signed by
many respectable inhabitants in Someisetshire, against the ex-
tension 01 privileges to the Boman Catholics.
Toe above were iced, and nod on the tank.
'1 re Bank of Ireland Bill was read a wird time, and passed.
The House att;otattol.
FRIDAY, KAY 5.
Mr. Brogden brought up the Excise Licenses bill, and several
private ti:ll., which were read the first time.
AtiItICUL'ITILkL PE'I'ITIONS.
The Earl o ALIIEM AIDA.: presented a petition from the
lint:tired of Kurth Gruenhoe, in toe county of Norfolk, colt-
;Awning of agricultural distress, turd praying foe relzta'. The
pettutdi vas signed by the re:copiers ul g-L,RJOuctes of land.—lt
wi.s read, and raid on die table.
Lord sUFFIELD supported the payer of the petitioners.
Tile Earl of A LBL .SAtt LE preaented another petition from
the owners and occupiers of lons in the hundred of liingcnne,
in Sorb it. romp:diking of exte,sive taxation.
Lord SU kTIELD presented a petition hem the hundred of
North Erpingliani, in Norfolk, ennipleatiug of taxation, and
praying tar irfiniii in the representation of the people. The
rad):e earl cone:whit his statement of the prayer at the petition,
by at.or.ug it tie read. The petition was aceurdingly read.—ln
ututiag, tutu the fel:lion du lrc (.11 toe table, the noble earl stated
oat it was rigrnsi by all the respectable leuillioaders in the bun-
bred of Erphignum, but he had no share in composing it.
Lad I.).tltN LEV said, LILA withbutudiug the despairing tone of
the peut.uus, he lied hoe,: that u.selt soi,.;lit ha dune for the
country by reduction of taxation. It was 111 the power of par.
to rebete agr.et.ltural distress by removing toxemia.
Ha extort, ed a hope t..et this hcablou wool t not pass ore:
watimat parlutineut doing eontattany with a Yu:* to rttitactir:a
of
'1 at petittea w. Li.d on the t4blc.