The Sun.
London, England, 1812-03-18 00:00:00

and with a desire to promote the advantage of corn-
coerce.

Mr. ABERCROMBIE, adverting to an expression
which had fallen from, Alr. Baring, contended, that
as it was admitted that the Ba►ik had not bullion to
pay their debts, while t I,eir debts wete increasing to
a►, indefinite extent, the House was called upon to
adopt inquiry.
Mr. MANNING explained.

Mr. BARING said, the observation he had made
was, that there was not a sufficiency of bullion to
enable the Bank to resume cash payments..
Mr. TieRNEy made a short reply. One of the
Bank Direr ors having admitted that it would not
be convenient to the Bank at present to pay in specie,
and tli Bank having themselves declared in 1797,
that they were ready to resume their payments in
specie, it followed, that their present situation was
not so good as their situation in f7g7, and this.was
an additional argument in favour of a Committee of
Inquiry.
The CHANCELLOR of the Excnriatrea, in answer
to the declaration of an Honourable and Learned
Gentleman that all the land of the country might be
confiscated to pay the Exchequer Bills in the pos.
sessibn of the Bank, observed, that the Bank could
-not possess more Exchequer Bills than were issued
by Government, viz-. forty-three or forty-four mil-
lions. On the subje6t ot the motion, he thought
that on the Right Honourable Genileman,s own
chewing it ought not to be acceded to ; for the
Right Hon. Gentleman asserted that the B ink' was
an extravagantly overgrown and rich corporation.-7
What necessity then for an inquiry into its situa-
tion ? As to the security for Bank notes, it was
ample. Besides the assets in the hands ot the Bank,
it should be recolleded that the Bank notes were
receivable at the Exchequer, and that double the
whole amount in circulation was received there
yearly.
Mr. TIERNEY, in explanation; said that he had
not represented the Bank as great and flourishing,
.and abounding in wealth. He allowed that they,
had made great profits ; but his next motion would
shew how he thought they had dissipated those
those profits. In consequence of the restri6tions
imposed on their payment -in specie, the Batik had
certainly made enormous profits; but these they
had d;v*d among themselves, and for aught he
and the/country knew, hid left nothing for their
creditors.

The motion was put, and negatived without a
division.
Mr. TIERNIIY then moved for an account of all
sums divided by the Bank of England, on their capi,
tal, from sth January 1797, to sth January 1812,
specifying the sum in each year.
Mr. MANNING thought this motion an unneces,
sary interference wilh the internal concerns of the
Bank. Every oHe knew what those' dividends had
been.

Mr. BARHAM, ahhough he objected to the for-
mer motion, supported this, on the ground that all
possible information on the state of the Bank should
be afforded.

Rlr. GRENFELL stated, that the bonusses divided
among the Proprietors of Bank Stock, since 1797,
amounted to 321 per cent, on the capital.
Mr. BARING thought the motion unnecessary.

Mr, MARRIOTT Contended that it was never in-
tended by the rests ittions on the payment in specie'
that the Bank should make thq large sum which
they had wade out of the public distress. He attri-
buted their unwillingness to skew the slate in %vhich
they were, not to any doubt of their solvency, but to
their being ashamed of their enormous profits.
Thd motion. was the❑ negatived without a divi-
sion.