The Sun.
London, England, 1840-11-12 00:00:00

SIAN BANK.

THE BRITISH AND AUSTRALA-

1 TO THE EDITOR OF THE SUN.
sn —'rhe report contained in your paper of Monday
of the proceedings at the Mansion House, relative to
the dishonour of certain bills of exchange, drawn on
the " British and Australasian Bank," or, on their
managing Director, Mr. Frederick Boucher, by his
brother, Mr. Charles Boucher, in the month of April
last, has naturally excited great anxiety in the minds
of all parties connected with the Australasian Colonies,
and especially of such of them who may not have taken
pains to make themselves properly acquainted with the
comparative claims on public confidence set forth by the
various banking establishments formed in Loudon
during the few last years.
Attention, however, has been very recently directed
to this subject, and, until I perused the report above
ra.ferred to, I must confess that I had (probably like
too many others connected with those Colonies), at-
tached no great importance to the previous complaint
reported in the London papers, as to the proceedings
of the " British and Australasian Bank ;" but, on
looking over the files of Australasian papers, I feel
utterly astonished that parties connected with these
Colonies should have so wholly disregarded, and
failed to report to the English public, the oft-repeated,
and apparently undeniable statements of facts therein
contained, and arguments urged relative to the pro-
ceedings of the Bank in question, during the last two
or three years.
I have taken the trouble to transcribe from those
papers a few remarks relative to the said bank, which
I enclose herewith, entreating you not to delay the pub-
lication thereof, or of such extracts as you may deem
expedient to make from the Adelaide and Sydney
papers, which are filed at Lloyd's, the Jerusalem.
and other City Coffee-houses, with a view to enlighten
the public as to the notoriously unjust acts
of the so-styled British and Australasian Bank during
the last two years, and, as to the necessity that casts
i for those who are ntending to emigrate to these colo-
nies to resort only to those establishments whose credit
is firmly based on large paid up capital, and whose
affairs are managed by Directors of high commercial
standing and known respectability.
The public exposure which has already, on two
recer.t occasions, been made as to the mode of transact-
ing business by the British and Australasian Bank (55,
Morgate-street), and the further exposures which will
doubtless result from the measures already taken by
Messrs. Bass and Co. will, it is hoped, afford a suffi•
cient warning to all intending emigrants, and other par-
ties having occasion to make remittances to, or receive
remittances from, the Australasian colonies ; but I can-
not conclude this letter without repeating my regret and
surprise that the numerous articles contained in the
Australasian Papers, from which I have made the few
extracts now sent, should not have been deemed of suf-
fici,nt importance to induce the public press to report
and animadvert on them for the information and warn-
ing of the numerous bodies of emigrants and others who
have of late years embarked, and are about to embark,
their capital in those colonies.
I am, Sir, your most obedient servant,
London, Nov. 10. VINDEL

Extracts from the Australian Newspapers on the sub-
ct of the British and Australasian Bank

( From the South Australian of Aug. 7, 1839.)
From information just come to our knowledge, we think
it right to caution intending emigrants and others in Eng-
land against taking the bills of this pretended Company
which are being issued upon Adelaide. No less than three of
their bills have appeared there, two drawn upon Mr.
Charles Boucher, and one upon the Local Directors of
the British and Australasian Bank, Adelaide. Now the
public should be informed tha there is no such bank at
Adelaide, and there never was, nor any person or persons
whatever in this colony to represent such a concern, or to
cash the bills.

There was a person of the name of Charles Boucher in
this colony some time ago, and he tried, in conjunction
with another noodle, to get up a trashy bank, but the
thing went to the dogs, and Charles Boucher went to the
Mauritius, and nobody here will interfere in the matter of
the payment of the bills upon him. One of the drafts we
have alluded to was for upwards of 6001., and had it not
been held by a highly respectable gentleman, he would
have been greatly inconvenienced.

( From the South Australian Register of Feb. 8, 1840.)
Our readers may recollect that some twelve or fourteen
months ago we assisted to demolish in the most summary
manner a flash banking concern, which was attempted to
be got up in Adelaide by two individuals from the Mauri-
tius, calling themselves Boucher and Milne, &c.
Since the departure of these worthies, however, drafts to
very large ainounts, signed by Mr. Frederick Boucher, in
conjunction with others, on Mr. Charles Boucher, have
been brought to Adelaide, and have, of course, been dis-
honoured. These drafts purport to be drawn by an esta-
blishment entitled the British and Australasian Bank, 55,
Moorgate-street, London, and are held by individuals who
lodged the cash with that establishmcnt in London, in the
erpectation of receiving it on demand in Adelaide.
We need not add that the disappointment and sufferings
of the holders, who on arrival here have been thus bubbled,
are great.

We think it right to state plainly that no individual con-
nected with the British and Australasian Bank is in Ade-
laide ; and what is more, that it is impossible but that
some of the parties in London who sign these drafts could
have been in ignorance of that fact. It becomes our duty
therefore to state these matters, and caution intending emi-
grants against taking the drafts of the British and Aus-
tralasian Bank, 55, Moorgate-street, London, on their
pretended agent here.
The public may be perfectly sceure in taking the
drafts of the South Australian Company's Bank, or of the
Bank of Australasia on their establishments here,

From the South Australian Registet of Feb. 22, 1840.)

THE BUBBLE BANK AGAIN.

We lately noticed the disgraceful conduct of the concern
calling itself the British and Australasian Bank, established
in No. 55, Moorgate-street, London.
Since that time some important facts have come to our
knowledge, with which it is our duty to make the public
acquainted.
It was known to Mr. Frederick Boucher, who is de-
signated as the Manager of the Bank in London, that
his brother, Charles Boucher, on whom the bills on Ade-
laide were drawn, had left Adelaide for the Mauritius; and
with the knowledge of that fact—with the knowledge of
the previous proceedings of his brother and Milne in the
colony—did Mr. Frederick Boucher draw bills and give
credits to Mr. Charles Boucher, to an amount, as
far as we have ascertained, exceeding 6,0001. sterling.
No arrangement was made to provide for the due honour of
those bills in the event of the death or absence of Mr.
Charles Boucher ; and the result has been not merely dis-
tressing, but absolutely ruinous to many poor persons who
brought out here these bubble bills for every sixpence of
cash they possessed in the world, and who cannot, of
course, obtain an advance of even a shilling in the pound
upon their credit or security.
We earnestly trust that means will be taken in England
to advertise intending emigrants of these circumstances,
anruin
and
that
andthe distressthe that has recently been suffered from
the gross negligence or misconduct of the parties whom we
have named.

(From the South Australian Register, of Feb. 29, 1840.
Moorgate-street British and Australasian Bank.
Late events ought to be a warning to intending emi-
grants, against imposition, and parties bringing their capi-
tal from Great Britain and Ireland to these colonies,
ought to negotiate their business with the banks which
have acquired a standing, and are known t. be undoubt-
edly good—the Bank of South Australia, for instance, or
the Bank of Australasia, which latter establishment, from
having branches in all the Australian colonies, affords irri_
mense facilities to emigrants.
le a recent instance, several retired servants of the
East India Company brought out their capital in
adsrtafitsudoina
Company,
oin
the 55, Moorgate-street concern, on Mr. Charles Boucher
here, and these drafts being of coarse dishonoured, the in-
dividuals mentioned would have been in the most deplor-
able condition, but for the interposition of Mr. ster,h___
ar
cashier to the Bank of South Australia, who, We ~E" '!",
e in_
formed, has in the mean time considerately advanced the
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