The Sun.
London, England, 1849-07-05 00:00:00

to every class in the commun;ty, to every
individual who can show himself to be legitimately
entitled thereto. It must be a man's own fault if
those facilities should be denied which are ever freely
tendered to the industrious, the frugal, and the de-

serving. It is not merely for the wealthier classes
that " banking" is carried on in Scotland. The small
tradesman, if worthy of support, receives as much
encouragement ; a safe and profitable mode of invest-
ment for his earnings is afforded, and, if occasion should
arise, assistance is judiciously and liberally provided,
so as to enable him to take advantage of every favour-
able opportunity to seize "that tide in the affairs of
man, which taken at the flood leads on to fortune."
His account is not rejected because he cannot afford
to keep a considerable balance lying idle ; discounts
will not be refused, because they are small in
amount, and not considered worthy of attention. A
class of business is transacted utterly unknown in
other countries, which is peculiarly beneficial to the
" middle classes," which brings considerable profit to
the bank, and by extending the basis on which it is
carried on, :and making the community deeply in-
..

its
terested in welfare, materially adds to its security.

. _
The banks of Scotland fully participate in the general
prosperity ; handsome profits are realised, ample

dividends distributed, and the shares invariably com-
mand high premiums if offered for sale—all classes
seeking an investment so safe and so remunerative.
It is, we regret to say, almost unnecessary to
direct attention to the melancholy contrast exhibited
by Ireland to the above picture. Notwithstanding
the fertility of the soil, the mildness of the air,
the innumerable bays and harbours by
which its coasts are indented—notwithstanding
its mineral riches, admirable position for any com-
mercial pursuit, its numerous and hardy population,
neglect and apathy, misery and destitution, are per-
ceptible on every side. Six millions and a half acres
of land lie utterly waste and unproductive, two- thirds
of which might be reclaimed, so as to pay ten per
cent. on the necessary outlay ; while the remaining
fourteen millions of acres nominally under tillage are
not half cultivated, and it is universally admitted that
the produce might be more than quadrupled under a
judicious system of agriculture. High rents are
readily promised, but there is a sad falling of in the
performance, and heavy arrears of rent are due to
almost every landlord; labour is a mere drug in the mar-
ket. Able-bodied men are unable to obtain employment
on any terms—they tender their services for even
nominal wages, but are rejected even while fields are
lying barren and unproductive. Commerce lan-
guishes and manufactures are unknown. And why ?
Because there is a deficiency of banking capital and
banking accommodation in Ireland ; because there
is not an adequate supply of circulating medium for
the wants and exigencies of the country. Ireland,
with a population exceeding eight millions, has but
one chartered and seven unchartered banks with paid-
up capitals, amounting in the whole to 5,000,0001., o f
which 2,000,0001. are lent to the Government,
and consequently partially useless for bank-
ing purposes. Scotland, with less than three
millions of inhabitants, has eighteen banks,
—six of which have received Royal charters—and has
paid-up capital to the amount of 13,000,0001. In
other words, there is 7s. 6d. paid-up banking capital
4f olr. everyos.t o Irishman, while each Scotchman has
look
to. These simple facts sufficiently
explain -the comparative prosperity and distress of
the sister kingdoms.
We are rejoiced to find that the Scotch system of
banking, which has produced such happy results, is
to be extended into this country also, that England
will speedily (and Ireland, we trust, ere long) receive
benefits such as those which Scotland has already
obtained from these admirable institutions. The
British Bank has already nearly filled its share list,
and business will soon be commenced under a Royal
charter. The names of the parties who have accepted
office will afford a sufficient guarantee for the in-
tegrity of the management. The Hon. Member
for Glasgow, for so many years the able and
indefatigable Secretary of the Board of Trade, is ap-
pointed Governor ; associated with him are men in
every way worthy of confidence. There will then be
a sound administration of a sound principle, and the
result will be as profitable to the shareholders as it
will be beneficial to the public. The " cash credits,"
which form such prominent features in the Scottish
system of banking, will for the first time be intro-
duced into the metropolis, temporary advances will
be made on securities which will not even be looked
at by the managers of other banks, interest will be
allowed on deposits, and, in fact, the Scotch system,
which has stood the test of a century and a half's ex-
perience, will be fully carried out.
Many precautions will be taken to guard not only
the customers and creditors, but also the shareholders
of the bank from any loss. " Business is not to be
commenced until half the capital has been paid
up." This will provide ample funds for every
purpose, while the shareholder is ensured the control
and supervision of affairs in which he is so intimately
concerned by clauses in the charter which provide,
among other things, " that general meetings of the
proprietors shall be held at least once in every year ;
and extraordinary general meetings, on a requisition
of any nine shareholders possessing collectively
twenty- one shares in the bank." One-fourth of the
number of directors are to retire annually, who shall
not be eligible for re-election until after twelve
months. No advances are to be made on the security
of shares in the bank. There is also to be a monthly
publication of the assets and liabilities of the bank,
an annual: audit of the accounts, and a communi-
cation of the creditors' report and the balance-sheet
to every proprietor. These would afford ample
security against individual shareholders being
called upon to satisfy demands against the
corporation; but there is, in addition, a clause pro-
viding for " the winding up the affairs of the bank, if
at any time it be found that the losses amount to one-
fourth of the paid-up capital." This salutary pre-
caution will at once obviate the objections which
many persons have entertained to become shareholders
in joint-stock banks, and will practically be equivalew
to the partnership en commandite, the advantages o
which have been recently so strongly set forth.
THE F.

INICI il A

---„wyET .TO

We have received the Paris papers of yesterday.
They contain the whole of the telegraphic despatch
from M. DE CORCELLES, announcing the re-opening
of negotiations with the authorities of the Roman
Republic, and the suspension of hostilities between
the Romans and the French, a portion only of which
was communicated by M. ODILON BARROT to the
Assembly on the previous day.
The following is the portion not communicated
" MARSEILLES, JULY 3, EIGHT O'CLOCK, AM.
" CIVITA VECCHIA, JULY 1, Tax O'CLOCK, A.M.
" General Oudinot addresses to the Government in-
telligence of the carrying of a new bastion (No. 8) on
the night of the 29th ult. The telegraphic dispatch of
the General will make known to you the details of this
affair, which perhaps is decisive. The enemy has lost
a good many men, and demands to capitulate. I re-
ceive this instant from General Oudinot the following:—
" The dispatch announcing the determination of the
1 Assembly to cease defending the city, the demand for a
suspension of hostilities, and the arrival of the deputa-
tion of the Roman municipality to the French head-
quarters, was communicated yesterday.'
"M. de Corcelles continues, lam about to start for
head-quarters, which I left yesterday afternoon at three
o'clock, with Messrs. &Harcourt and de Rayneval. Not
knowing the resolution of the Roman authorities, they
left for Gaeta in the morning. I have caused them to
be informed by an advice boat. I have received intelli-
gence from head-quarters that the General-in-Chief has
received the Roman Municipality, and begs of me to
join him. I leave this instant.' "
A court-martial was held on Tuesday for the trial
of four soldiers accused of having resisted the gen-
darmerie in their attempt to arrest Sergeant BOICHOT
and convey him to Vincennes previous to his election
for the Legislative Assembly. As the court-martial
was nominated by General CHANoikarma,jhe con-
viction of the unfortunate men and their condemna-
tion to death followed as a matter of course.

In the Republican list of candidates for the repre-
sentation of Paris the name of M. A. Es(winos has
been substituted for that of M. PROUHDON, who has de-
clined standing as a candidate. The Siecle and Credit,
as representatives of the moderate Republicans party,
have published a list, which includes the names of MM.
de Latnartine, Lanjuinais, Tourret, Ven nerd,
Marie, Goudchaux, Bastide, Marrast, Billault, Jules
Fevre, and Corbon. It is exceedingly probable that
many of the names in this list will be returned. The
electors are disgusted with the dictatorial power
assumed by the electoral union ; they do not approve
of the reactionary policy of the Ministry, but they
do not like to vote for a list containing the names of
Socialist candidates, and will therefore accept the
Siecle list as a Godsend. LAMARTINE, MARIE,
GOVDCUAUX, BAMDE,
MARItAgal And thILES