The Sun.
London, England, 1834-10-11 00:00:00

our preceding article ; but we will, on Mon-,
day, ,give some curious facts, also from a select loca-
lity. In the meanwhile we may remark, that the
question of the proprietorship of Irish land is not the
main issue with regard to Irish tithe. The evils of the
system are felt .by the payers of the impost ; and not
only is the mode of levy objectionable, but also the ap-
propriation of the proceeds in support of an " Esta-
blished Church," to which the great majority of the
Irish people are naturally and irreclaimably opposed.
We may, however, state that We possess authentic in-
formation of much more.factious opposition to a fair
census from the church clergy than from the Catholic
priests. The latter have nothing to conceal ; the truth
only is feared by the former. We trust, however,
that next session the House of Commons will adopt
measures to ascertain the comparative numbers of the
different sects throughout the empire. The knowledge
of the real numbers is important to the decision of the
pending question of church reform. We do not doubt
that the Tories and Orange party of Ireland, who so
virulently opposed the Commission, will do their best
to depreciate its labours.—Morning Chronicle.

BANK OF ENGLAND.

(Concluded from the Sun of yesterday.)
NECESSITY OF AN ALTERATION IN THE MODE OF ELECTION
Mr. YOUNG said the matter be was about to bring to the
notice of the Meeting was one of some importance, and he
intended to bring it before the next general Court of Pro-
prietors. There had been a possibility of risk to the public
as well as to the Bank Proprietors. It was of the greatest
moment to the Corporation, and the importance was more
and more developed as competition increased, that the
occurrence of the failure that had lately occurred should be
prevented. He was decidedly of opinion that it was neces-
sary that some regulation should he adopted by which the
Court of Directors, either directly or indirectly, should be
placed above an event of this sort ; that the probability of
all necessity for aid should be entirely put out of
the question ; that those only should be Directors
who had acquired an independence. These were the
men the Proprietors were in need of, and it was the
duty they owed to the country that none other should
be ehoscn. He was sorry to have heard statements
made public that the unfortunate Gentleman whose present
position he se much regretted had disqualified before be re-
signed his seat, and it gave him (Mr. Young) great plea-
sure to find that this was not the case. He was happy that
the lata Governor had cot injured the establishment by any
such course cf proceeding—the conduct both of the late
Governor and the Court of Directors was on this subject
honeurable.—(Hear.) It was of the greatest importance,
however, that. some rule should be adopted to prevent the
recurrence of such an event for the future. He had been
apprehensive that the statement of the disqualification of
late Governor before he left his scat would have produced
injurious consequences to the character of the Bank in the
country, and it had gone out of London without the contra-
diction that had been given to it. There was no ground
for the assertion, and he greatly regretted that a portion of
the public press had not used their power to better purpose
than circulating such assertions, but to preserve credit, es-
pecially at such a critical period as the present.—( Hear.)
He considered. that any party who endeavoured to injure
credit or decrease confidence was an enemy to his country.
—(Hear.) He was of opinion that the Proprietors had a
public trust to execute, and therefore begged to be excused
for troubling the Court with these remarks.
The DEPUTY Govcaesoa—l beg to assure the Court of
Proprietors that the Board of Directors are fully aware of
the importance of these matters, and of all the circums
stances spoken of by the Hon. Gentleman (Mr. Young).
The .Court of Directors would have immediately heard of
the disqualification of the late Governor had it taken place
before the resignation. The fact would have been imme-
diately made known to the Court of Directors. Such an
event could not have taken place more than three or four
minutes before it would have been made known to the
Court of Directors.—(Hear.) None of the Court might,
however, have been present at the time ; but they would
have received direct notice, and proper measures would
have been taken in consequence of such an occurrence.
Mr. YOUNG felt great satisfaction at the statement made,
and hoped it would be communicated to the public.
A PROPRIETOR considered it might not be politic to
alter the present mode of election. He wished to learn if
it was recollected by the Court of Directors that since the
time of the establishment of the Bank a similar occurrence
had taken place, whereby the character of the Corporation
might have been compromised. If there had not existed
anything of this kind previously, there might not be any oc-
casion for an alteration of the plan of election, and the
standing rules of the Court might still be acted upon.
Mr. WILLIAMSON said that there was a similar cir-
cumstance in the failure of Mr. Buller, who had failed
after he had passed the chair, but certainly no such un-
fortunate circumstance had before happened to a Governor.
Mr. YOUNG stated .that if it was thought necessary
by the Court, of Directors to enter into the subject it would
give him great satisfaction ; if not, be should himself bring
the matter before the Court of Proprietors.
A PROPRIETOR said that nothing of the kind had before
occurred.
The DEpuTY-GovEnNon, agreed in the same opinion
as the last speaker.
Mr. YOUNG—It cannot be contradicted, however, that
the Bank has suffered from failures.
The DEPUTY-GOVERNOR said it certainly cannot be de-
nied that such has been the fact.
Mr. WINTER was desirous to
.say. a few words. The
subject was worthy of serious consideration, and he hoped
the late circumstance would not again occur. Whatever
might be the theoretical objections to the present plan of
election, a very practical proof of the impropriety of the
mode was offered in the case that had Just taken place.
The position in which the Bank was thus situated was one
of great importance, especially as the state of the affairs of
the corporation were now discussed not only in this country
but throughout Europe. The particulars published of its
circulation, its issue, amount of bullion in its possession,
and its liabilities, were known all over Europe. The in-
creasing importance of the Bank of England in the trans-
acting business not before engaged in—its banking concerns,
its deposits, and its ramifications spreading all over the
country by means of branch establishments, rendered the
greatest caution necessary. The whole character of the
Bank had been altered, and every possible precaution for
the maintenance of its .credit and character ought to
be adopted, otherwise it would be impossible to say
that the evil that had occurred might not, if it again
existed, produce the most unfortunate consequences. While
the transactions of 'the Bank were carried on under the
title of. the Governor and Company of the Bank of
England, much mischief might result from the Governor
being placed again in such an unfortunate situation as that
which had been alluded to. It was true that the Governor
had no more to do personally with the pecuniary affairs of
the Bank than lie (Mr. Winter) had, but while the Court
of Directors continued to be elected by a house list, great
apprehensions might be entertained that the occurrence re-
ferred to might again happen. On Mr. Raikes being
elected the house list ought to have declared his circum-
stances. It was assumed that the Court 'of Directors had
a competency, and what had taken place must affect credit,
and show the fallibility of the present mode. It was diffi-
cult indeed to acquit the elective body of the imputation
cast upon them by this circumstance. They ought to look
bankrupts.
ecop oruosnnlsudm:
bmiSbjenoeei
out for persons to act as Governor, Deputy-Governor, and
nolmenitt:deyutotio:nhfhdeeceesworectirrlaiesorokei
uedueugresrtstri
recurrence
oeaionfsti
importance.
regulations
oslrreefets oughtactmtnt
iwociaareitis.at,ent
hth,ut
heoi
aceenhpby,
deirs
lhophaapoldodaruloi
place
epdeeattkbb,eeerdeersni.:
Directors, who were not within the possibility of becoming
butayv
nt,oolduwd-hlaGdesailvesa.
place. He should be glad if some proceedings were adopted
by the Proprietors, not hostile to the Directors or the Go-
vernment, in order to place the Bank out of the situation it
was now, by the occurrence of the event alluded to.
The DEPUTY-GOVERNOR was desirous of saying a few
words in answer to what bad fallen from the -Hon. Proprie-
tor. It should be remembered that it would be very diffi-
cult to ask an individual of station in society whether he was
solvent or not. Much must be left to the honour of indivi-
duals. The Court of Proprietors, therefore, could not blame
the Directors for having recommended Mr. Raikes to them
for election. It was almost impossible, placed as lie was, to
have put questions so as to have elicited answers as to his
solvency. The Governor, on appointment, it should be re-
membered, took certain oaths, and his qualification was to
the amount of 4,0001., which was not held in trust, but
over which he had a perfect controul.
Mr. YOUNG thought it extraordinary that the twenty-four
Directors could congregate day by day and year after year
without knowing the particular situation in which the late
Governor was placed, and if anything like doubt existed.
upon the matter, steps ought to have been taken by the
Court to have. prevented the Bank being placed in such a
situation. He would most readily agree to' the election of
the Deputy-Governor to the Governorship, as he was cer-
tain a cordial co-operation would exist between him and the
gentlemen behind the bar ; and it would, he hoped, intro-
duce a gentleman to act as Deputy-governor who stood in
high reputation in the city.
Mr. WILLIAMS stated that if no Proprietor intended to
nominate any other party to act as Governor, he thought
the election had better be proceeded with, and he proposed
a motion to that effect.
Mr. YOUNG wished to know when the election for De-
puty-Governor would take place ?
The DEPUTY-GOVERNOR stated that when the office of