The Sun.
London, England, 1833-06-03 00:00:00

preference to joint-stock banks of issue in the
country, will tend still more to increase the cir-
culation of Bank of England paper in the pro-
vinces. While chartered banks of issue will be
required to pay up and invest in Government or
other securities one-half of their capital, and
each partner will be liable to the whole amount
of his property for the debts of the corporation,
the banks which will issue no notes, but merely
deal in those of the Bank of England, will he
partly exempted from this rule with respect to
capital, and he enabled to protect their share•
holders from all liabilities beyond their proportion
of capital engaged to the firm. This is itself a
premium in favour of the Bank of England notes.
The branches of the parent Bank already esta-
blished, and likely rapidly to extend, afford im-
mense facilities for these enlarged operations.
In the appendix to the report on the Bank in-
quiry, we find that there are 11 branch banks in
the country, which circulate on an average about
2.250,000/. of notes ; that there are 11 country
banks which have given up their own notes, and
act exclusively with Bank of England paper ;
and that there are no less than 134 more which,
though they issue their own notes, are supplied
with coin from the branch banks of the Bank of
England. The latter will now, in general, take
Bank of England notes for coin, and receiving
great facilities of discount, will surrender the
use of their own notes, like their prudent friends,
who deal exclusively in the paper of Thread
needle-street. Thus we may expect, in the
course of the next ten years, to see one great
bank and its branches engrossing the whole cir-
culation of the kingdom, and if 1 old Althorn
had wished to give us one national bank, with
ill its security, but without any of its advantages
to the public in the shape of interest, at the end
of the proposed new Charter, he could not
have accomplished the object more effectually.
We are not exaggerating, therefore, when we say
that in the course of a few years the Bank of
England and its branches will possess nearly
exclusively the circulation of the kingdom ; or,
in other words, will be enabh-d to issue a cur-
rency of nearly 35,000,0001. or 40.000,000/.1
instead of 20,000,000/. or 24,000,000/. Their
dividend nite.t increase in a similar proportion ;
and is the public to derive nothing from this
monopoly but the paltry saving of 120,0001,
out of a sum of 254,000/., only 164,000/.
of which is an expense to the Bank ? We
nope that such an unfair and iniquitous
bargain will never receive the sanction of
Parliament, and that some hone:,t portion of
the national representatives will insist on a par-
iicipation of the public in all the gains of the
Bank after paying their present dividend of 8 per
cent. upon their diminished capital. This
would be by no means au anomaly. The East
India Company was restricted to a dividend on
its amount of stock, and why not the equally
public monopoly of Threadneedle-street ?
Times.

We have inserted a report of the proceedings
of the nomination of candidates for the repre-
sentation of the southern division of Stafford-
shire, consequent on the acceptance, by Mr.
Littleton, of the Irish Secretaryship. The
Ultra-Tories, in their extr mite, have put for-
ward Lord Ingestrie, a strr-iling Conservative—
'he son of the Torr Lord-Lieutenant, Earl
Talbot—and the ex-Member of the nototions
borough of Hertford. The Tories are too art-
rut not to take advantage of the temporary divi-
sion among the Reformers, and with party cun-
ning they are now seen coquetting with their
opposite extreme, the Ultra Radicals. Nothing
can be more disgusting or detrimental to the
popular cause, than this unnatural combination
of Tories and Radicals—the Tories, who so lately
reviled the Reformers as revolutionis-s and " de-
•tructives," now acting in concert with those
mom whom they politically differ as wide as the
poles asunder! We believe that this incestuous
coalition originates with the fanatic leaders of
some of the Unions, who would sacrifice every
•,olitical principle and opinion at the shrine of
he "currency question." We do not believe that
the majority of the Ultra-Reformers are infected
with this strange political mania, but some only
are inided by violent men, who persuade them
that any means are lawful which tend to oust the
uresentAdministration. Admitting forargutnent's
sake, ail the complaints of the Ultra-Radicals
against the Cabinet—granting the alleged sins of
commission and omission— whatcan the friends of
public liberty gain by sub-tituting Tories in the
place of the " Whig Government ? We shall
take an early opportunity, in this cross position
of public opinion, of doing justice to the Admi-
nistration by stating what they have clone, and
,shat they are about to do. We have not been
their apologists or blind supporters ; we have
sacrificed none of our former opinions, hut, sur-
rounded by difficulties, created by the Tories,
Ministers have a strong claim for liberal allow-
ance. We ask, what combination of public
men can supply their places with advantage to
the country ? We ask, what security for public
credit or property in our present critical
position would there be if the present Ca-
binet was followed by a succession of weak
administrations ? We ack the Ultra Radicals
whether a Tory Government would give them any
municipal, financial, or church reforms ? The
fact is, that the extreme parties are now playing
a finesse game with each other. Ihe Ultra-
Radicals and Unionists are seeking to use the
Tot ies for the purpose of advancing unnaturally
their own opinions, and the rank Conservatives
are flattering the impatient Reformers to secure
them as Guerilla troops against the Minis ry.
The Ultra-Radicals will soon discover the pit-
fall dug for their credulity ; they resemble the
lamb in the fable who accepted the invitation of
the wolf to take an evening walk—the cunning
animal soot.] developed his object. Otte of the
complaints against Lord Grey's Government is,
that Ministers do not recruit their numbers on
occasion from the ranks of the Liberals. Now
it appears that if stanch advocates of the Re-
form Bills, and men of known and decided libe-
ral opinions are selected by the Premier for offices
of public trust, the Ultra-Radicals are to join
the Conservatives in rancorous opposition to their
return to Parliament. We never will abet such a
despicable and suicidal course of public conduct.
We blame no men for tnaintaining their own
opinions ; but coalitions of extreme parties are
despic4hle and unnatural. There can be no
honest bond of union between them, and the
duration of such connections is always brief. No
man of sincere, liberal opinions can hesitate be-
tween Mr. Littleton and Lord Ingestrie ; and
we, are confident that the majority of the Staf-
fordshire RefOrmers are not to be deluded by the
arts and devices of the Tories. NVe will only
ask the Ultra-Reformers when they ever knew
the common enemy—the Conservatives—support
Radical candida es? Will any number of Re-
sloa r
lts (s)f,. LL. eorreafo rien,gebese,erioem;
i.riees
coofntstete, v pa
tair:ei -s
must be sorely put to it, betore they can con-
descend to accept support at the hands of such