The Sun.
London, England, 1808-02-08 00:00:00

texceeding year during the continnence of the '*ate
and within to eke months afler - the tertnination
thereof by a deheitiveyreaty-of Peace, pay into,,the
receipt of the .Exchequer;, there to be held at the
-diaposel of Parliaroent, the 6110 1.5•0"01.
sterlieg. ' - • • , - •
. to-proposing this .alternatiye in the' 0-mac of af-
fording .to the th degree of aid whe.thoep
the most moderate piinciple, mid• with a reference
to the ,adyantage. that might otherwise •beebtained, .1
it appears reasonable to expect
.on account. •of the
deposit of publie motley in the.handa of
,the Bank,
Ifeel• it a duty at the same time to urge, •in the
strongest metier; the superior convenience and-ad-
'vantage which would accrue to the public service
front the adoption by the Bank'orthe proposed Loan,
instead; of- an equivalent annual payment- into the
Exchequer. :In stating this comparative view of the
'two proposals, and my decided opinion in flavour of
the'advance by way of Loae, 1 eannoteloope, from
the generel diapositiou of the Bank,- that it. will be,
-a mote powerful. motive with the Coureto, give a
preference to that proposal ; unleas from some reason
,of which I am not aware, it, ShoOd appear to them.
absolutely necessary for the interesta of the Bank to
:confine themselves to an annual payment.
• In order to prevent .the possibility of any future
misunderstanding of the principles and grounds on
which the present arrangement, as far as relates to
the deposits of Publießalances, is brought' ferward, •
I think it necessary to observe, that -the proposal to-
confine the duration of the advance by- way of Loon,
or of the annual payment into the Sifxcheepier, to,
the 'period of the present war,: and twelVe -months
after the termination of it, is by no means to be. one
-derstojid as•an admission on -my part, that, at the
expiration of Rua pried, the peiblic will no longer
be entitled to look to any advantage front the Cotea
:tinuatiee of such
.cleposits ; but simply es a provision,
by which the*Governmeneand the Bank may he re-
spectively enabled,-under the change in the state of
'affairs Whieli•will then. have taken place, probably
atfe&ing the amount of public balances in the hands
-of the laiter,to consider of •a new
,arrangetnent.—
And I have Mrther to' add, that, as the proposal I
have now made is founded on the view I have token
of the present annual average amount of- those ha
!maces, assuming that amount to be not less than
ten millions sterling, I wish it to be understood that
thepreseer arreegeinene, it' carried into. of eO, -should
not be
,cjinSieued to preclude his ;Majesty's Govern-
ment (e ith etie sathliou of Parliament, it' necessary) •
.troth using in such inetiner its they, might thillk pro-
per for the public ioterest, and consistent with aoy
seisting engageolteet with Ate Bank, any eues, of
.balattee.oVer and above the said ten millions; if it
shoeld eppeer that such excess were likely to he
peripeeeat and of sufficient Magnitpele tdcall ter
some appheation of it, by si;hich, a• bout intierfern3.
With the arrengement now proposed to the Bank, it
!night, be rendered, produCtive,of advatttagt to the
public; hitt without alit% Name the Bank for any
Etitei.t eesistence beyond Ate arn ott lit -no w propased—e
an asistence which, Whatever :difference 4opinion
nvy its".to
,the circumstances by the fiercltlon
of which they are enabled to grant it, will, rennet.
double upon-a fair consideration of the whole C;iGd,
appear, to be entitely, consistent -with those ptioeia
ples 01'11414y and mutual liberality which-ought- to •,
prevail in theadiu4tment Of so important 8u erraitge-
went; growing tett or the extensive transadions,ek-
iating between the public and the Bank. • •
- 1 havethe honour to be, Gentlemen, • e
• YoUfolkdieut humble Servant •
• PEttnEVo.
.To the goveMor'and Deputy.aoirernor the aattk.

COPX.OP-A PAPelt, " IiSSOLVTIONS

TILE CoUla OF ptiect ous," 14TH JAN. 1800.
Resolved, That the proposal of the Chancellor of
the Lxchequer to take bon,0001: from the tin.
claimed Dividends, in addition ti Ihe iilrther sum
of 376,7391. be acceded to by. this Conft.
:Re'solved,,That it? respell to the rate of manage.
Runt, the tollowing sc.titt be'proposed;--

Ott,fiito tttilliugs at 344. p'cr million. , . ,
On 5t3 dttio 30 1. ditto.
C)11 400 ditto '4sul. ' ditto. • '
`On 300, ditto 5001. ditto. ,
Resolved,. That in respoa to the-40001. for ma.
nagentent, allowed by the first Charter, it is not ex-
pedient to -make any alteration in that'all(iwithee,
being part of the 100,0001. per anne.n, continued
froth the Inundation al. the Bank.

itesolved, That the Court of DireCtors do aecede
to. the iart.yo4l of the (hrineelior of the Ex-ehequer;
fur the use cif 6c:warmth:tit, 3,000,4)01. on
iuterest, during OKI. war ;
prOvidect it i 3, stiollated to be returned within hix,
months .after the ratiticatiOn of thdTreaty of Nace„.
and under the completd uncleratanding that all trans.
aiftiontt betwe,to the Public and the Bank sll4ll be
continued .111 the accustomed ptatmer, oven though
the amount 9f poblio &dances' Should exceed the
sum ,of tea niilliens. •

COPY OF A LUTTE-11,.Enpm 'Ent cnAvcitta.oß 'OF T 133
lEXCltUatl2ilt TO , GOVERNuIt DP.T'UT'
861/BANOII OF,' .UANK.'
nowninm-street, 13th .lart. 18138.

Gittvr,LEvitv--The liberal disposition wilieb has
been Ithtnifeste4 by the Court of DireCtors to conchr
in the principal amingorucnts which,J. have 4143ught
it my ;luty to suggest for their consideration, h
afforded me groat satiSfaCtion.

While I feel convinced 'that myr proposal has not
lest sight of tlo public interest, the manner in vela!'
it has been Nee; ie.' by the Banit'contirins me to
thinking that it has not proceeded wittOni ,a due
consideration alsti of the fair aud.reasonable inter-'
gists atid c:,-,pe6iAtitin.cifthat respethable Corporation.
Under this. impression, 1 am strongly inclined to
give way to Ott ittillrgestiOnS of the /3auk in"the mine!
parts of the arran!;:eintnt, find will .therefaile accede
to the. 4alle of ellowanees. therein ptopoged rot-the
tuanagetnent of the Public Debt, so 'far as it applies
to the 'present -cirentnitanee,„ onto such as can be
expeeted,tO occur ;many short period. '
In this view, therefore,-1 'shall nor ob;e6l ,to the
alteration by whiell it. is 'proposed that the allOwance,
to be paid by the public tor management.shall-be at
the rate of 3401:--pertriliitoh Upod any amount of
debt-between ~400 and .600 millions' inclusive; in-
stead of till! rate of allowance to my
amount betweea 400 .ittni :',50 Millions, as 1-had in-