The Sun.
London, England, 1833-04-29 00:00:00

PROSPECTUS of a NATIONAL
.11 ME-
TROPOLITAN ESTABLISHMENT fur BANK-
ING in the COUNTRY.

In ISSO a Alee,ing took place, Sir HENRY PAR-
NELL, Bart.,Ni. P., in theChair,when the folqm ingGentle-
n.en formed themselves into a Committee, to take the steps
necessary to promote the formation of a Metropolitan Joint
S rick Company for Banking in the Country :
The Most Noble the Marquis of Sir E. Knatchbull, Bart., M.P.
Bute Sir T. 11. Lethbridge, Bt., M.P.
The late Right Hon. the Earl he Hon. H. 'l'. Liddell, M.P.
Darnley I'.' P. Macqueen, Esq., M.P.
Lord Viscount Althorp W. A. Mackinnon, Esq.
W. It. Cartwright, Esq., M.P. Sir H. Parnell, Bart., M.P.
Sir It. Hill, Bart., M.P. G. It. Robinson, Esq., M.P.
W. Hanning, Esq. T. S. Rice, Esq., M.P.
T. Joplin, Esq. Rt. Hon. C. Tennyson, M.P.
The character of the Institution proposed was expressed
in the following Resolutions :
" That the establishment of Joint Stock Banks, under a pro-
per system of control and responsibility, appears to this Meeting
deserving the consideration and encouragement of the Govern-
ment, the Legislature, and the Public.

" That a system of Banking, bringing under the review of a
Central Board in London the issues of paper money in the
country, appears to this Meeting calculated to lead to such pru-
dent regulations as may apply the check derived from the state
of the Foreign Exchanges to the amount of the currency in cir-
culation.

" That a system of London management and subscription,
applied to the direction of Country Banking, appears to this
Meeting well calculated at once to afford a profitable employ-
ment for capital where it is superabundant, and to give relief
where local circumstances may have limited the amount and fa.
cilities of Banking accommodation."

The Act of 1826 authorised the formation of such an
Establishment ; some improvements in it, however, were
thought desirable, and it was deemed proper to submit
these resolutions to the Government; fur which purpose
the following deputation waited upon the Duke of Wel-
lington, then Prime Minister :—The Earl of Darnl,y,
Lord Althorp, Sir T. B. Lethbridge, Mr. Bice, Sir E.
Knatchbull, Mr. Tennysion, Sir H. Parnell, and Mr.
Joplin. But, before practical measures could be adopted
to carry the object proposed into effect, those important
changes commenced which have exclusively ocupied the
attention of public men up to the present period.
Since then, however, a conviction of the utility of such
an institution has become still more general ; and a dispo-
sition to iorm Joint Stock Banks has been manifested
throughout the country. But the Banks which have been
formed, though both useful and successful, in general
possess small capitals, and are not of the best description
of such establishments. Indeed the Scotch system
of Banking can hardly vet be said to have been
:ntroduced into Englaiad. No Institution has hitherto
been formed in which the merits of that system are kept
in view. The chief value of the Sewell system is not
derived for the local Joint Stock Banks with small capi-
tals, which are to be met with in some of the country
towns of Scotland, but from the great metropolitan Insti-
tutions, which spread their branches to the remotest dis-
tiicts, and not only carry banking to a greater extent, and
afford a more extendel accommodation to the commerce
and agriculture of the country than any minor Institu-
tions can do, but afford a stay and support, upon which