The Sun.
London, England, 1833-07-02 00:00:00

SECON EDITION.

SUN-OFFICE, Seven o'clock.

11M PERM LPAR LEAMENT

THIS EVENING.

HOUSE OF LORDS•

--
Lori SUFFIELD presented a p?tition, most numerously
signed, from Kingston-upon-Hull, praying their Lordships
to interfere with Russia on the subject of Poland. It was
not his intention to declaim upon the barbarities committed
upon the Poles, being aware ofthe importance of the mea-
sure now under consideration of Government in the other
House of Parliament. which would soon also come before
their Lordships. But he was sure that the subject would
not escape their attention, and that they would take those
measures most conducive to the object they must all have
at heart.

The House then adjourned.

-- __
TilE LONDON GAZETTE

THIS EVENING.

LORD CHAMBERLAIN'S OFFICE, JUNE 29, 1833.
The King has been pleased to appoint Henry Brow n, Esq.,
Surgeon and Apothecary in Ordinary to his Majesty's House-
hold at Windsor.

WHITEHALL, June 12.
The Lord Chancellor has appointed Richard Randall. of the
town of Southampton, Gent. to be a Master Extraordinary in
the High Conrt of Chancery.

Commission by the Lord Lieutenant of the East Riding of the
County of York, and the Town and County of the Town of
Kingston-upon-Hull.
R. P Strangwayes, Esq., to be Deputy Lieutenant, June 24.
Commission by the Lord Lieuteaant of the County Palatine of
Chester.
The King's Regiment of Cheshire Yeomanry Cavalry.
T. Marshall, Gent., tobe Lieutenant, vice Chantler, resigned,
June 21, 1833.

DECLARATIONS OF INSOLVENCY.
THOMAS SAVI LE FLUDE, Mincing-lane, wine-boker.
JOHN RUSSELL CASE. Hunter-street. Brunswick-square.
BANKRUPTCY ENLARGED.
JOHN K ABERItY, leather-cutter, Leeds, York, from 9th
of July, to Tuesday, the 6th day of August, at eleven, at the
Court-house, Leeds.

BANK RUPTS.
JOSEPH STR ANGM A N, Jun., flour-factor, Queen-street,
C•eapside, 19th July, at ten, and 13th August at twelve;
Young and Vailings, Mildred's-court, Poultry ; Clark, official
assignee, St. Swithir's-lane. Lombard-street.
TOMASO ROVi7DINO, music-seller, Manchester-street,
..11,iy 12, at tei., Atigust 13, ei,vcll,
the Court of Bankruptcy. Walthew, Norfolk-street, Starnd ;
Lackington, Basinghall-strett, Official Assignee.
H. HOLT, bookseller, Somerset-street, Portman square, July
5, at two, and August 13, at eleven, at the Court of Bankruptcy.
Belcher, King's Arms-yard, official assignee; Messrs. Dover
and Lawrence, South-, quare, Gray's-Inn.
JOHN ROBERTS, linen.draper, Llandilo, Carmarthenshire,
July 9, and August 13, at eleven, at the Commercial Rooms,
Bristol. Clarke and Sons, Bristol ; Jenkins and Abbott, London.
JAMES MOORE, glass-merchant, Manchester, July 19, and
August 13, at one, at the Palace Inn, Manchester. Holden,
Liverpool ; Walmsley, Keightley, and Parkin, London.
THOMAS CHRIS I'M AS, flour-dealer, New-street, Lisson-
Grove, July 10, at twelve, and August 13, at ten, at the Court of
Ectnkruptey. Young, Mark-lane.
' JOSEPH ALEXANDER TAYLOR, boarding-house-keeper,
George-street, Hanover-square, July 10, at two, and Aug. 13,
at ten, at the Court of Commissioners. Baxendale, Tatham,
Upton, and Johnston, King's Arms-yard, London; Cannan,
Lothbury, official assignee.
WILLIAM DELA M AIN, wine.merchant, Wells-street,
Marylebone, July 10, at three, and Aug. 13, at twelve, at the
Cohrt of Bankruptcy. Druce and Sons, Billiter-square; 'Fur-
quand, Cothall-buildings, official assigno.
SAMUEL PEEL, plaid-manufacturer, Leeds, July 9, and
Aug. 13, at ten, at the Court-house, Leeds. Battye, Fisher,
and Sudlow, Chancery-lane, London; Hargreaves, Leeds.

IMPERIAL PARLIAMENT.

HOUSE OF COMMONS, Juzr 1.
O'CONNOR DON presented a petition from the in•
habitants of Kiltrusten in the county of Roscommon
complaining of the improper conduct of a Protestant
clergyman in his proceedings in the assessment of tithes
in that parish. The Hon. Member said as this was a
petition complaining of the conduct of a clergyman
he had thought it right to give notice of his intention to
present it. He wished that the allegations contained in
it were untrue, but he was afraid that they could be but
too well authenticated. The petition stated, that on the
7th April, 1826, there was a meeting of the parishioners
to enter into a composition under the Tithe Composition
Act; that the clergyman in question, acting on his own
behalf, as well as on the behalf o the Rev. Dr. Brindley,
propcsed that they should pay him 2001. a year; this was
objected to, and ultimately the sum of 185/. was agreed
to be paid and received ; the number of acres in the
parish was to be taken from the county book, as it
contained a less number of acres than were actually
in the parish ; the county hook stated them at
3 007 acres, and the clergyman wrote down the rate at
Is. Bd. the acre, but inuatcli to say it ion.. sAsoording to
the county book; he had therefore charged the Is. 3d.
instead of upon only 3,007 acres, according to the county
book, upon the actual number, namely, 5,083 acres,
thereby increasing his 1851., which lie egreed to receive,
to 312/., which w.s actually 1121. more than be had at
ties, demanded. The pieta censor of that eietgyment had
only 100/. a year. Several Magistrates were willing to
prove those facts, but the parishioners could get no
redress from any authority to which they appealed.
They had appealed to the Privy Council of Ire-
land, but in consequence of the documents having been
regularly signed by a Commissioner, on behalf of the
clergyman, and by one on behalf of the parishioners (which
last was signed without inquity, because the gentleman
who signed it was told it was a mere mater of form),
they were refused redress. Indeed, he (O'Connor Don)
had understood from the Right Hon. the Secretary for
Ireland that the law afforded no redress, and therefore the
petitioners were obliged to come to this House and to
appeal to their justice whether the law was sufficient
to uphold the rights of the clergy, and only impotent
when the rights of the people were concerned.—(Hear.)
He feared that unless this petition was attended to, the
people in that part of the country, Roscommon, would
be so much excited, that means of coercion would he
found necessary to keep them from disturbance. The
Hon. Member read a letter he had received on the sub-
ject from a Mr. Patrick Tait, in which the writer said the
tranquillity of that part of Ireland could not be for a mo-
ment insured if it were attempted to enforce the payment
of the tithes according to the new survey of the clergy-
man ; and he knew not how the Magistrates in that dis-
trict could act, if called upon in any way to enforce pay-
ment upon an agreement against the justice of which
they had already borne evidence. He (O'Connor Dan) called
upon the Government to distribute equal justice, and,
whilst compelling the people to pay what the law would
enforce, to at the same time rescue them from such claims
as those of which they so justly complained.
Mr. HUME presented a petition from a person of the
name of Gunn n, North-street, Alarylebone, complaining
that on the 15th October, 1832, he posted a letter, con-
taining 25/., directed to an individual residing in Leicester,
and which had never been delivered ; and although he
had made application to the Duke of Richmond on the
subject, no explanation or redress had been given. Tne
petition set forth the great hardships which arose from
the present Post-office regulations ; and which, while they
prevented, by imposing penalties, the sending of money
in parcels by carriers or other messengers, did not afford,
by any weans, adequate protection against its irregular
delivery and loss. The lion. Member stated his opinion
that no deportment of State required more revision and
mere regulation than the Post-office ; sonic alteration was
' 'wanly c riled for in order to facilitate the commercial and
general communication of the country. If parties were
obli ed to send their parcels of money by pose, Government
shouter, at ati events, be ieepotesibie for their Safe iieiieeiy.
The Hon. Member also complained, that by a recent alteration
the conveyance of letters, &c., from England to the United
States would be very much impeded; and expressed his
hope that the Noble Lord the Chancellor of the Exclie-
qu-r would, ere lone, see it to be his duty, as he
hid two years ago stated to he his intention, to being in a
Bill which would place the whole question of the Post-office
regulations before the House. The Hon. Member then
presented a petition from the United Associate Presbytery
of Aberdeen, in favour of the Ministerial pl en of Educa-
tion in Ireland. Also a petition from the working
classes of Edinburgh, praying the House to satisfy
the just complaints of the people of Ireland. The Hon.
Member also presented a petition from the persons assem-
bling for public worship at St. J ohn'e.square, Lon-
don, calling themselves Free Thinking. Christians, com-
plaining
Kirk, against the
of the <ten mony of marriage,. according to the
being imposed upon
1 also a petition
stfiyhieltmnetsn; oaoflfstollaeya EpiattiattrtiOol onsahgeferdomiCni'll Scotland
from London, praying for the repeal of the house and
window tax ; also a petition from the Procurators of
the ;sheriff,' Court of Fife, cotnplainirg of the Scotch
system of conveyancing ; alto a petition from the gra-
duates and students of the university of Glasgow, fro
the King's
negated a f.oer.haelneett
the repeal of the Apothecaries Act ; also a petition
filzinichithperispiini:onperrasyi
the law of
debtor and creditor ; end als? a ;:etition tr om the parish of St.
Luke's, Chesea, complaining of the expense of passing
Irish poor. He understood the lion. Member fur Berks
had a Bill on this storject to bring forward, but be
was satiefied that it would not ucceed in affording relief,
unless the• parishes in Ireland to whici: the poor belonged
.r

were assessed for the payment of the expense of passing
the poor to it. Supposing poor laws were not adopted in
Ireland, this would be a proper intermediate step.—(Hear.)
The Hon. Member also presented several petitions from
Birmingham, from St. Andrews, and-other places, prayieg
that the laws relative to beer shops might be so altered as
that they might be placed on the same footing, in regard
to the hours for serving beer, as public houses. He also
presented a petition from Julius Adolphus Scroter, residing
at Isleworth, complaining of the laws relating to patents.
Sir S. WHALLEY called the attention of the House
to the subject of the Irish poor, and hoped that some
measure would be adopted to lessen the burdens which
they at present caused in this country. He also called
the attention of his Majesty's Government to one or two I
subjects connected with the Post-office; one was
the great loss which was sustained by poor persons
in remitting money through the medium of the
Post-office.—(Hear, hear, bear.) He thought it ad-
visable that every facility should be afforded to poor
persons in sending money by that mode. The other topic
was one that he viewed with much astonishment, and it
was a practice that every Member in the House should
endeavour to suppress. It was, the practice at the Post-office
to open parcels which were sent from solicitors in thecountry
to their agents in town, in order to see if there was a
letter in them. Mercantile parcels were allowed to con-
tain a letter, but of all parcels he thought those sent by
solicitors, containing title deeds and such things as those,
should be allowed to have a letter accompanying and
describing them. He felt confident that the Noble
Duke at the head of that department would not sanction
the opening of such parcels at the Post-office, it he was
aware of the practice. For his own part, he could not
und,rstand how any person dared to pursue such recourse,
ant! not be deemed guilty of felony. He hoped, and
shoot] he happy to heat, that that system was not
sanctioned by his Majesty's Government.
Mr. FINN thought that an absentee tax in Ireland would
be the best cure for the emigration of the Irish poor to this
country. At present a great many offices in the Church,
and other departments in Ireland, were filled by English..
men, which could as well be filled by Irishmen. He
thonght there was but one cure for all the evils of Ireland,
and that was to give that country a dome:4de legislature.
Mr. WILKS aas of opinion that the Bill now in the
House, instead of remedying, would augment the evils
respecting the passing of casual Irish poor in this country.
He hoped that some really beneficial measure would be
introduced in the course of the next session that would
remove the evils complained of.
Mr. LANGDALE moved that the writ for Warwick-
shire he susoelole.i (in the 11th of July.
Mr. O'CONNELL moved for a return of the account
of stamp duties on newspapers in Leland, from the Ist
of January, 1833, to the Ist of June, 1833.
Lord ALTHORP moved the order of the day for the
House resolving itself into a Committee on the Bank
Charter Act.
Mr. FINN moved that a return be laid before the
House of the compensation granted for the sale of boroughs
since the union between England and Ireland.
THE SPY SYSTEM.
Mr. COBBETT was exceedingly anxious, before the
House resolved itself into a Committee on the subject of
the Bank Charter Act, to have the Noble Lord's (Al-
thorp) consent to the appointment of a Select Com-
mittee on the subject of which be had given
notice relative to the matter of a petition which had been
presented from the members of the political union at
Walworth and Camberwell, complaining that policemen
had been gent about as spies, and that they were taxed
for the purpose of maintaining those spies. He
did not wish to have the nomination of the Com-
mittee, but it was a matter of the greatest public
importance, and in which the public were materially con-
ceined. His Hon. Friend (the Member for Lambeth)
bad a petition to present on the subject ; and it was ex-
ti emely important that as little delay should take place
with respect to the consideration of it as possible.
Lord ALTHORP said he had no desire to prevent the
Hon. Member trom bringing the subject forward ; on the
cor.t.rari, he was desirous that the earliest opportunity
should be given for the Hon. Member to mention it.
When the police force was first established in the metro-
pile, particular instructions were given by the Right Hon.
Baronet, who proposed their employment, that they should
not he employed in the capacityof spies, properly so speaking,
and when his Right Hon. Friend came into office, the same
instructions were expressly given. The gentlemen at the
head of the police force were equally anxious that the men
under their command should not be so employed. He did
not consider that the sending of men to public meetings—
to such meetings as were open to all persons—could be
construed into employing them as spies, in the acceptation
of the term as used by the Hon. Member, even though they
attended those meetings in plain clothes. Knowing the
inflammatory language that was used at some of those
meetinea, the Government would not have performed its
duty if it had not sent persons there to take notice of
what was going on.—(Hear.) If this man, however, had
used violent language, and had endeavoured to excite the
people, he had committed the most odious office of a spy—
( Heir)—and must not only have exceeded his duty, but
have disobeyed his orders.—(Hear.) But this the man
most positively denies.—(Hear.) With regard to the ap-
pointment of a Committee to inquire into the circum-
stances of the case, he (Lord Abhor's) could have
no objections, provided it were a fairly selected Corn-
inittee.—(Cries of " Hear, hear.") He had thought
it necessary to give an explanation to the House of the
conduct of the Government in the matter, to show that it
could not be charged with encouraging a spy system ; and
could further assure the House, that the police had never
been employed to interfere with private society.—(Hear.)
Mr. O'CONNELL said the best answer that could be
given for the Government was the ready manner in which
the Noble Lord had met the request for a Committee,
which should he fairly chosen without any partisanship.
Mr. COBBETT would again assume the Noble Lord that
every allegation contained in the petition could be proved
to be correct.
Mr. TENNYSON expressed his satisfaction at the
consent of the Noble Lord tote appointment of a Com-
mittee. The Noble Lord would remember, howevee, that
the petitioners did not complain of the policeman attending
public meetings, but of his having been a subscribing
member to the political union, and of having used vio-
lent language, and having even corrected the resolutions
at their meetings, besides offering to teach the accord
exercise, and using various other means of exciting the
people.
Lord ALTHORP said the policeman had denied some
of the most important allegations which were made
against him. He denied ever having made use of violent
or inflammatory language ; and although he had on one
occasion thrown some pence into a bat for a contribution,
he denied being enrolled as a member of the political anion.
Mr. HAWES expressed the gratification he telt at what
hart fallen from the Noble Lord. At the same time, of his
own knowledge be (Mr. H.) could say there had been a
system, though it might not be sanctioned by Government.
of sending persons to those meetings, and allowing them to
make use of most improper and violent language. From
personal inquiries which he had made, he knew there were
parties who were prepared to come forward to substan-
tiate the allegations contained in the petition.
Mr. EWING, in a very low tone of voice, which was
quite inaudible in the gallery, urged on the Lord Advo-
cate the necessity of postponing for the present session his
Bill relative, as was understood, to the Royal Burghs
of
Scotland, as great dissatisfaction had been occasioned by
several of its provisions.
The LORD ADVOCATE was aware that the Bill, in
its details, had met with some opposition, but it had not
norasiored tl,at perturb .ti-n and air:in which t% c Hon.
Member for Glasgow had expressed. At the same time be
was not anxious to bring the Bill through during the

present session.
DECCAN PRIZE MONEY.

Colonel EVANS asked a question of the Noble Lord
(Althorp) relative to the distribution of the Deccan
Prize Money, in answer to which
Lord ALTHORP said the prize could not be distri-
buted until the decision of the Privy Council was pro-
nouncei.
Mr. C. K TYNTE presented a petition from a place
in Somerset, praying for an issue of 11. notes.
BANK CHARTER.

The House having resolved itself into Committee on
the Bank Charter,
Lord ALTHORP said, that in moving the second re-
solution he begged to state to the Committee an altera-
tion he proposed to make in his plan—an alteration
which he did not think of much importance, but which
be was most willing to make, to meet the apprehensions
of those who apprehended that from payment in gold
being only obtainable in London for notes of " 51. and
upwards," might cause a scarcity of coin in the country. He
proposed therefore to alter the reading of this resolution,
excluding payment in the country for all sums " above
five pounds; " so that a five-pound not., being
presented for payment in the country would entitle
the party presenting it to five sovereigns. (Hear,
bear.) It was not such sums that occasioned a run,
~f which they need be apprehensive. With a view to
prevent if possible, discussion of the sixth and eighth
re. 01010115 viz., those renting to joint-stock banks, to-
ui,ht, his wish was to dispose of the other resolutions,
if I:ossible, before the Houle resumed, “e upon them he

should he able to brinv in 4 BM for
.the renewal of the

Bank Charter, which- he had prepared.
Sir ROBERT PEEL—If I rightly understand the
Noble Lord he means that for every 51. note, a man pre-
senting it shall receive five sovereigns. Of course, then,
if he takes one hundred 5/. notes be will receive gold for
them all.

Lord ALTHORP—No, no.
Sir R. PEEL—If he takes them sep ►rately, then ?
Lord ALTIIORP—Why no, not in the same day, for
that would occasion a ,erious run upon the Bank. If the
effect of the alteration will be to destroy the effect of the

resolution, I shall not persevere in it.
Sir ROBERT PEEL—I am sorry if I have shaken
the Noble Lord's confidence in his own pro-
position, which I most certainly cannot think he
has well considered. Nothing could be so absurd as that
a man presenting a 5/. note should be able to get five
sovereigns, but upon presenting two Si. notes should not
be able to g• t ten sovereigns.—(Hear, hear, and laughter.)
Mr. W ARBURTON suggested, with a view to prevent
the issue of notes for 51. 10s., they should be confined to

multiples of M.
Mr. E. DENISON expressed his anxiety to have the
Noble Lord's doubts upon the point cleared up.
Sir R PEEL was ccnfident that no such consequences
were to be apprehended as the Hon. Member had just

adverted to.
Mr. ROBINSON said, with respect to the two last
resolutions, the Noble Lord's (Lord Althorp) object was
to avoid any discussion upon them, until those more
immediately affecting the renewal a the Charter were
cnmp!eted;
of opinion upon those two resolutions than on all the
others together, he would suggest their withdrawal alto•
gether, in order that the others might he the readier pro-
ceeded with. At present those two resolutions would
greatly embarrass the question of the renewal of the
Charter, and it might therefore be difficult to get through
them this session. He could not see what necessity there
was, in discussing the renewal of the Charter, to consider
all the circumstances respecting joint-stock banks. The
latter be would submit bad better be left for discussion
early in the next session.
Mr. P. THOMSON thought that all this discussion
arose from the misunderstanding of the object in view by
making banknotes a legal tender. If those Members I
would refer to the evidence before the House, they would
see that, in 1825, there was danger of running the bank dry
for gold, so continual was the demand for it. In most of the
districts the amount of notes issued by the country hankers
bore but a small proportion to the amount of their deposit@
and cogagetaet.t.s, for which they were ob;:gea provide
in times of pressure by applying to the Bank of England
for bullion. It was to guard against such a danger
that it was thought advisable to snake notes a
legal tender, and not in reference to the amount of notes
of country bankers, which bore so small a proportion to
their other engigements. The fact was, that in a mo-
ment of a commercial panic the country bankers came up
to London, and, as was the case in the year 1825,
they asked, not simply for sovereigns to pay
their notes, which never could wholly be returned
to them—for he believed during that panic the amount of
notes returned bore but a small proportion to the amount
of paper issued—but they also asked for gold to meet all
their other eneagements.—(Hear, hear.) Many coun-
try hankers having a circulation of only 15,000/.
or 20,000/. in notes, required as much as 100,000
sovereigns to enable them to meet those engagements.
Thus the Bank of England was constantly in this
situation, namely—it must be prepared in a
period of panic to deal out gold, not only to
meet the demand occasioned by the returning of
country notes, but also to meet all the antici-
deposits : that made it advisable that Bank of England
nations of a demand to the amount of their
notes should be declared a legal tender; and therefore all
the alarm that was apprehended was utterly unfounded.
Sir JOHN WROTTESLEY would not now discuss
that important point whether Bank of England notes
should be made a legal tender, although he would not
deny that it was called for by the country.—(Hear.)
He thought it would tend, in the opinion of the public,
very much to depreciate the standard value, if it was
known that those notes could not be paid in
the way in which they had hitherto continued to
be paid_(Hear, hear)—but he could not agree with
his Hon. Friend thor, the present measure would be of
any advantage whatever to the country bankers.—
( Hear, hear, bear.) The country bankers could
not pretend to give the interest that was called for, and
at the same time engage to have sufficient money in
their coffers to pay them at a short notice.—(Hear.)
He was sure that no prudent country banker would ever
take deposits without an enagement that they should not
he removed except after a certain notice.
Sir G. PHILLIPS made some obatyvations in reply
to the remarks of Mr. P. Thomson, the beginning of
which were not heard in the gallery. Sea ued.rstond him
to say that the Right Hon. Gentleman had forgotten that
when the run on the B ink of England was made in 1826,
the one pound country bank notes were in circulation,
and the Bank of England had no one pound notes to issue
in the seemd of them. At present its Si. notes w.,uld serve as
tvell as sovereigns to pay country bank notes. The proposed
plan would make a legal tender of its Si. notes. The bankers
said, that there was now no opportunity of snaking a run on
the bank, as there was no one pound notes in circulation.
At present the Bank of England notes of 51. were supported
by the whole credit of th- Bank ; but if the Bank itself were
to be doubted, it would be no got d snaking the
Bank of England notes a legal tender. He :meat say, that he
looked upon the resolution making Bank of England notes
a legal tender as having a tendency again to expose us to
a Bank Restriction Act, and to all those evils and dangers
which we bad already encountered. When he first heard
that it was the intention of the Government to make Bank
of England notes a legal tender, the impression on his
mind was surprise, and some doubts of its advantage. The
more he had considered it, the snore be was convinced
that it was not required. He could not see the necessity
of snaking any alteration in the present system. No facts
had been mentioned to show that it was necessary ; on
the contrary, he thought it would be disadvantageous.
Suppose, a run were made on the country bankers, they
bad now the Bank of England to apply to ; it was stable
and solid, and what advantage could be obtained by
making its notes a legal tender ? If the country bankers
offered Bank of England note., nobody could reject them.
If the run were for gold, and Bank of Eagland notes were
not liked, the proposed plan could only put off the evil for a
day or two. The notes of the Bank of England obtained
from the country bankers could be sent to the Bank of
England. The consequence, too, of that would he, that
the whole pressure, part of which is now borne by country
bankers, would be thrown on the Bank of England ; and
that pressure would be exclusively for gold. A demand
of that kind coming from the whole country would be a
pressure greater than the Bank could resist. The more
he reflected on the subject, the more he was struck with
the danger of interfering unnecessarily with the present
system. After going through great suffering, we had got
a currency established on the precious metals—it was
stable and safe, and why should it be meddled with? It
was most unwise to tamper with it—most unwise to
interfere with it, by introducing the Bank of England note
as a legal tender. It was at present stable, and why run
the risk of involving the country in ruin ? At present
the country bankers are the means of distributing through
the country a copious supple of credit, and if they were de-
stroyed, and the supply were not so copious as at present,
what ...now he the ennsequence? The consequence, he
believed, svotrA be, that the people would demand the
IL notes. If that demand were complied with, tbe eon.-
sequence of that again would be another Bank Restriction
Act, and ail the evils which f ,itoweti in Its train. He
was extremely sorry that such a measure had been pro-
posed. He spoke doubtfully, indeed, of its effects, for he
observed that there was a great difference of opinion among
the best informed men. Another point occurred to him.
It was stated in the evidence taken before the Committee
last Session, by his Friend the Hon. Member for Walsall
(Mr. Forster), and Mr. Stracey, that there was a time
when the people in the neighbourhood bad doubts about
Bank of Eagland notes, and that they had been supported
by the credit of these country bankers. But suppose that
such a doubt should arise after the Bank of England notes
were made a legal tender—and suppose that the effect of
his Noble Friend's plan would be, as he believed it, to
put an end to country bankers, on what then could the
Bank of ngland notes rest? At present the credit of
the count7y bankers supported those notes; but when
they were gone the Bank of England notes would have
nothing rt rest on. He maintained that, in the country,
the banke' there supported the credit of the Bank of Eng-
land. had no doubt that his Noble Friend (Lord
Althorp) had done his duty in making the proposition,
and he Ind only done his duty in disclosing his opposition
to the prnciple of snaking Bank notes a legal tender.
Mr. FARING adverted to the varieties of opinion which
were enfrtained on this subject, which made it extremely
desirableto be very cautious in forming and expressing an
opinion. It was, however, the conviction of his mind,
aper currency would not be safe unless the Bank
of Eng
gthroatunthd4 sod paper were made a legal tender. On that
that ourPle should support the resolution. He understood
Noble Lord had made, before he entered the House,
t!
a reution of the currenc
non, not on the grounds that it would operate as
what b thought. an improper concession. He supported
the resi
yf but because it wgs his con-

Chang PlYable oi
stolen
—and
whichthat the
it
the circulation of paper, unless there was some securi y tha
oordin -ti
in prices, and those continual difficulties to which we have L
oe aygabl
w"asla mtrioste"ldesairanbolte bshavoueltdhebefuelilteantal--Htage!nt t ISNorbtlfee Lthi!
That we
te
psoheoeud should not
and
tw be ei
cella o s
mighted to
be those
aeoid ed,by continual
e a bcl
ihnag
the
St
it
fu
rt 1
country bankers to offer the Bank of England notes as It
i England
complete payment. Gentlemen were alarmed at the :mute
Why shou
of the Bank Restriction Act, but let them consider what
was proposed. It was not to make a legal tender of Bank seek reney, it
only
of England notes in place of specie--it was only removing
would b
the demand on the Bank one step. The country banked"
partial los
ferent situ
might be obtained for Bank of England note!, and they
Stock.
would give Bank of England notes instead of gold, but gold
might be securely converted into specie at some place of ;
1 stock cot
respectable and wealthy as any race of men in existence,
• c withdraw
other. The bankers of the City of London, who were se I
made their payments by means of the Bank of England'
would fin
' pose of pr
If any gentleman was to go to a banker in Lombard-street
banks,
and present his check for fifty thousand pounds, and de'
of their n
mand cash, the banker would not give him gold over his nonseque,
counter; he would give an order or note on the Bank es payable i
England for the money, where it would be obtained. That in every ;
was not a denial of payment in specie. He saw then, 60 Act of
the proposed plan was only making the parties who de which ha
aired specie take one step more before obtaining it. A 0 tion whi
additional security would be given to the paper eurreod times tno
of the country—the security of the Bank of England.., would in,
and an assurance founded on its credit, that gold might twin in
duously I
be had on being asked for there, though not paid in till other nee
first instance. The measure was not introduced for al
man
nblwe
won
benefit of the country bankers; but it was a desiderata..
to keep out as much paper as possible, and to prevent a door th
those panics or frights e hieh sometimes arose, from dir ficult to ,
maging the Bank of En land. It was to guard agailli miles fro
is-locker
such fears, by giving the,,e who were alarmed a delay distingui,
twenty-four hours in getting gold, that he thought the propelled
measure good.—(Hear, hear.) Any gentleman must bli two mon
fastidious to say, that such a measure would injure th the curre
Noble L,
credit of the Bank, or endanger the stability of the cue.; Lord Wei
rency. The Hon. Gentleman opposite (Sir Georg declaring
Phillips) said that we had at present a stable currenet But at I
founded, as all currency ought to be, on the preciote maitre,_
metals ; and that it was not good to alter it from aill other the,
W.,ly had slot
crotchets of any man. But what security, or what st,s,'
bility was there in 1825 ?—(Elear.) Then we bad t"' direeted
beautiful currency, which tle, lion. Gentleman though currency
so secure ; but when the pressure came, it was fouo
wanting. In fair weather, and under ordinary circuit!' Noble Lo
stances, it was stable and secure enough, hut not when II
__flaw,
was tried. So the Hon. Gentleman might go to seatf proposed
some tub of a ship, and find it sate enough in fine we paying
Leer, but when the gale came, he would find her untit tof (Hear.)
stand the sea. We were only saved with our beautif.,
currency from thumping on the rocks by a miracle :A an repu
1826—that of the discovery of a box of I/. notes.
these facts before them be could not say that our C":, be—...,, is
rency was the best possible. Setting aside all reasont on dente,
and all theory, experience showed them that our In up 0,
sent currency did not deserve the description given oil, all otl,tr
by the Hon. Baronet. The panic and difficulties tii ruin,
we,
1826 were yet fresh in their recollection; and it wan_,„ heard—
make a provision against a recurrence of them that : be issue,
Noble Lord made his proposition.—(Hear, hear.) 1,4 but hew,
Honourable Gentleman had spoken of the coup be odd
bankers ; hut, he believed that they would find thenwith Ad
selves in no comfortable situation if the credit of the IV, that noi
of England were to fail. There was no practical ans°l: for a sm,
all Lombard-street—and there were no more practice i bahly, el
s
nr experienced men in the empire—who would not ciretoat;
the Hon. Gentleman that nothing would be more 0, does at
gerous than to boast of being able to fufil his engagenil under tie
without the support of the Bank of England. In "1 of the 1
it was the great credit of the Bank of England 0° perhaps
was the foundation of all individual security. A ~, as
attempts made against the security of the Bank of E°l, ,:it At 0,
land would find it unassailable. The most wild oft of Lond,
country banks would not be solvent but for the davit rretty n
England. It would be impossible that the curre
and deal
could be placed on a safe footing, except by relying oo , and ails,
Bank of England. It seemed to hint an :st unfurtulte part oft
to assert that the Bank of England might get i°, in Scott
discredit without the assistance of the country banks' gold re
It was the duty of the House, in renewing the Bank ',
almost
rower
England Charter, to render events of the descriptions merce h
those of 1826 impossible. The great object was to Pi also sal(
against such events—to stop the panic inning the peer; paper ca
and secure the Bank against danger. It was the deoln lating l]
made on the Bank of England, to provide against,: than a
demands on account of deposits, as the Right P° gation I
°I prtitioi
Gentleman bad stated, which caused the principal rec bpa,nrfkeent
the Bank. He admitted that the Bank notes retul safety t
were not of so much importance. In panics, the cotrei
bankers were obliged to be prepared for the demand', panics i
their deposits; and on this account be was prepared which
support the plan. t diinis
Sr G. PIIILLIPS and Mr. BARING mutually explitiet,, oblige,
S r ROBERT PEEL said the argument was, soi conduc
ttihnena,baunnddathnacte
acinf si.m.tiaell
onfotoesnestainmiul:wteodpuonudnudensopeeteol
mpralpicoiro,
the effect of encouraging the departure of coin from is alwa
kingdom; and whenever a crisis strived, whenever tvt tirculai
was a cotnmercial panic, all the deposits were irnmedio,
demanded in gold, because the depositors bad no o', smaller
deuce in a paper currency. But His Hon. Friend hslis; a great
right to contend that the paper currency was the , puny_
now as it was formerly. One and two pound notes 7, somata,
now prohibited, and consequently a more equal diffir public.
of gold currency was secured, whilst the existing 101, to be
ri
was convertible into coin on demand. There was et,- le,t hi
therefore, no risk of any commercial panic similar to
.A any br
of 1825, for the inducement that formerly prevailed to eau,
longer existed.—(Hear, hear.) His' Hon. Ft iend
it was highly desirable to secure the country againi% reusoci
effects of plitical excitement. His Hon. Friend , apt).
quite right in making that statement, and he IWO arw...!
the advantages which would accrue to the couetr); bod:l
establishing unlimited confidence in the Bank of Engi , might
Everything which tended to confidence and security i 0 decree
country was good; but was it possible to give this Cl went,
deuce by an Act of Parliament?—(Hear, hear.) 2: Al
Hon. Friend had referred to the confidence plaevf Ihrin
bankers' checks on the Bank of nglan True, , riach
whence did that entire confidence E
arise ? d.
Because 0 Air,
was no interference of an Act of Parliament. A', /31 any n,
had said, commercial confidence gave bankers' chec fared
currency on the Exchange because they had nolle, mural
Westminster Hall. All depended on commercial Cf: twant
dence ; and if his Hon. Friend were to pass a law to Ali
people to pl ice confidence in cheeks, the result would t:°; Here
reedy opposite to his wishes. His Hon. Friend Oa stronp
referred to the want of confidence which risi‘ in Vie
ford
war or convulsion was likely to produce ; but whrt6, Panic!
would ask, was that want of confidence likely first to el: Berm.
Not in remote country towns, but in London. 111 tical I
too, had been spoken of the advantages resulting fre,, Possit
intermediate state; but what had been the effect oi, Predi,
in the case of the Sco..ett Rinks with their optional cli) siona
Tne Scotch banks ht.d f einetly the clause giving 10 issue,
the option either of paying their notes at one, in toe,, stock
currency, or deferring the plyment for six months, g'i keep
interest in the meanwhile. The result of this, as i!li caul(
fries, as
s compared stated, w as,
with
ht the exchangeCarlisle,
full 4 wasp,r cent.. against`
(jot.
tbaial
etro,
hear.) He did not see any reason why the prope'r't for (
terference with country bankers should take place. He 11,1
say, let the country bankers issue notes convertible .I ' Sues
metallic currency, and let them provide what seetls pi„
might be thought right for the deposits put into f had
hands, but give them the right of claiming notice eii for
withdrawal of any deposit. This would be much lr, ten,
than compelling them to pay in bank paper. i3c7 the
how open was this plan to evasion? As there vi°,ir see
bank note under W., depositors would only have 10 ' bti
as many checks as they pleased for U. 195., and theY", t,,
compel payment in metallic currency. This, of el! n,
would not be resorted to on ordinary occasions ; but..; of
on ordinary occasions there was no danger. The u'' II
in view was to provide against the effects of a panic,'' p
ther general or partial; and when this existed, nothi°, b
the world could prevent depositors from resorting to °l)' t
'J
possible expedient to withdraw their deposits and ~'
payment in the only currency in which they could r i
confidence.—( Hear, hear.) The Noble Lard Oa,' I
Right Honourable Gentleman appeared utterly tot' I
discarded from their consideration the various TI
of evasion to which this plan was open.—('''
hear, hear.) The Noble Lord came down to
House to-night, and much to his surprise, pre
that 51. notes should be convertible into gold
demand, and this was a most serious and important alt
tion. The effect of it would be this—to give g direr?
gislative premium on the withholding of 51. notes ,
the market.— (Hear.) It would alao, in. his 0111';
operate most injuriously on the country bankers in $,
of panic ; fur the whole scope of this Bill was to irl
country bankers cot to keep gold in their coffers, l''
rely on the Bank of England for supplying them tvith
means of meeting all demands ; and if a panic ocll
arise, the bankers would come up to town and carry
not gold, but bank-notes. What, however, would ti
bankers say when they found the holders of Bank of Ii
hod Si. notes pressing them for gold, which they
issuredly would do? The Noble Lord hail, indeed,
that no man was to take two 51. notes together and e.l
gold for them, because that would, in t,e,,, be dernerf!
gold for 10/. ; but what would the Noble Lord saytle!
holder of several Si. notes were to present one at t'l;
terval of every half hour—or suppose he bad 501•'.f
notes, and were to employ all his servants in oho•
payment for these separately—what would the NO