The Sun.
London, England, 1833-08-14 00:00:00

EAST INDIA HOVSE.

(Concluded from The Sun of Yesterday.)
Sir C. FORGES would never consent to the Bill, which
was one of spoliation and robbery. He would have a
meeting called to consider wln-ther the Company should
place upon the natives of India the additional burden of
630,0001. a year. From a moderate estimate the plan of
Government would place an additional burden upon the
natives of India of one million sterling. He held the
opinion, that if the Company continued to participate in
the China trade the profits wou d be greater than ever.
He had heard that ,he Indiin navy was to he abolished ; if
so the pirates would materially obstruct the Indian trade.
The Bill he would never consent to. By the China Bill
it was proposed to place a tonnage upon British vessels at
Canton. This the Do ectors must oppose. He concluded
with moving the following amendment :
" That the Court of Directors be instructed to intimate to
his Majesty's Ministers that the Court of Proprietors cannot
with justice to themselves and to the people of India consent
to place their commercial Charter in abeyance under the pro-
visions of the Bill now before Parlianse..t for effecting an
arrangement with the East India Company, and for the better
government of his Majesty's Indian territories,' because, whilst
by the provisions of the said Bill the proprietors of India
Stock are to receive only the same yearly income and the
same amount of capital, at the expiration of their proposed
Charter, as they were entitled to under their present and for-
mer Charters, their security will be greatly lessened by the
withdrawal of their commercial assets, and their exclusion
from the trade with China, and they will be made wholly de-
pendent for their dividends on the Indian revenue, in which
th,re is a growing deficiency at a period of profound peace,
after pushing retrenchment to the utmost, although taxation
has been carried to an extreme length, and ought to be dimi-
nished instead of being increased, which cannot be attempted
without great danger to British supremacy, and great misery
to the natives of India, already the most heavily taxed
people on the face of the earth ;* but which increase of tax-
ation must inevitably take place, in order to meet the heavy
additional charges arising out of the proposed plan for the
future government of India, if unhappily it shall be persevered
irl ; a plan by which despotic power will be placed in the
hands of one man over a hundred million of British subjects,
and over every authority in India. not excepting his Majesty's
Courts of Justice."

Mr. FIELDER seconded the amendment, and said not
one word of what the Hon. Proprietor had stated in pro•
posing the resolution was in support of it. He contended
that India ought to be placed on the same footing as re-
gards the admission of sug tr with the West Indies. The
Bill as it now stood would not confer any benefit on India.
He opposed the continuance of the College of Haileybury,
and hoped that it would not go out to India that the
Company had passed such a bill as that before them—that
the Company had committed an act of felo de se.
Dr. GILCHRIST, Mr. WEEDING, and others addressed
the meeting, after which Mr. R JACKSON replied.
The CHAIRMAN then put the qm.stion, but in conse-
quence of the lateness of the hour, he stated he could not
count the numbers and a division was called for ; when
there appeared—For the amendment, 11; for the original
resolutions, accepting the Bill, 40.
The original motion was carried.
A ballot was requested, and fixed for Friday next....
(See Advertisement.)
The Court then wtjourned.
* Expression of the present Secretary of the Board of Con.
trol in the House of Commons.

CORRESPONDENCE BETWEEN THE

BANK AND LORD ALTHORP.

We subjoin the correspondence which has taken place
between Lord Al.horp and the Bank, on 'he subject of the
amendments made in the Bank Charter Bill, re id at the
Court of Proprietors yesterday by the Gwernor as follows.
The first lever was from Lord Althorp to the Court of
Directors, dated July 4. It was addressed to himself:—
"My dear Sir,—Finding the opposition of the country
bankers too strong for me, on the question of limited liability,
my colleagues have decided that I must not persevere in this
proposition. I shall accordingly postpone till next session any
measure relative to country bankers, except that compelling
all issuers of paper to compound for the stamp duty. As it is
possible that the directors of the Bank of England may think
that by thus wi.lidrawing the encouragement which I in-
tended to hold out for the formation of joint-stock banks,
not of issue, I diminish the advantage which they anticipated
from those banks so much as not to enable them to afford the
repayment to the public of the L:0,000/. a-year, on which we
had agreed, I write this note to you that you may consult the
directors at their court to.morrow. It is right, however, to
add, that the opinion of the House of Commons appears to me
to be, that the terms on which we concluded our engagement
are exceedingly disadvantageous to the public, and therefore
it will be impossible for me to propose any alteration in them
which should be still more disadvantageous ; but I must ad-
mit that, after this alteration, the Bank are quite free to say
that they will not consider themselves bound to any thing
proposed between you and myself, and, consequently, to de-
cline accepting the terms as they will now stand.
" Believe me, dear Sir, yours most sincerely
" Downing-street, July 3" " ALTHORP.

T. e resolution of the last Court of Directors was, that
the Court of Directors, under the circumstances, were
willing to adhere to the terms, notwithstanding the post
ponement of the rlau-e. On the 6tti of Ju y the legal
advisers of the Bank reported that the clause a. to the
limitation of sixty-five miles was struck out; on which
the Deputy.Goverruir, the Governor being absent, addressed
the following letter to L.rn Althorp:—
_ _

" Bank of England, July 6, 18133.
" My Lord,—ln the absence of the Governor of the Bank
of England, I lose no time in calling your Lordship's attention
to an alteration of the Bank Bill, materially affecting this cor-
poration. It was agreed between your Lordship, acting on the
part of his Majesty's Government, and the Court of Directors,
that the restrictions at present operating to prevent the esta-
blishment of banks within sixty-five miles of London would be
continued, except that banks at a greater distance should be
allowed to draw on London. At one time it was proposed by
your Lordship to allow the establishment of banks, not issuing
paper, at a distance of twenty-five miles from London, but
which was subsequently waved by your Lordship. In con.
fortuity with this agreement, it was expressly stipulated in the
draught of the Bi I, approved by Mr. Harrison, the counsel of
the Treasury, that no bank with more than six partners should
carry on any banking business within the metropolis, or sixty.
five mil.,s thereof.

" The proviso in question had been submitted to the Court
of Directors, and was stated to a Court of Proprietors as one
of the points agreed upon between this corporation and his Ma-
jesty's Government. lam now informed that this proviso is
struck out of the clause. The 11,2 k not having received any
communication from your Lordship on this very material alte-
ration in one of ttie most essential points of the banking system
of the country, I have taken the ear iest opportunity of sub-
mitting the same to the Committee of the Treasury, who pre-
sume to express the hope that the omission has arisen from
mistake.—l have the honour to be, my Lord,
" Your Lordship's very obedient servant,
" JAMES PATTISON, Deputy Governor."

No answer was received_ to this communication, and on
the 11th July be (the Governor) waited upon Lord Al.
thorp, and his Lordship said that his Secretary should
forward an answer, which was accordingly received, and
tins was the answer

" Downing-street, July W.

" My dear Sir,—Lord Althorp has spoken to Mr. Harrison
on the subject of Mr. Freshfield's letter, and directed him to
do what may be necessary to remove the cause of your alarm.
Lord Althorp has no objection to Mr. Freshfield being put in
communication with Mr. Harrison, that this object may be
effected to your satisfaction.
" Believe me, my dear Sir, very truly yours,

" R. M. Raikes, Esq." " F. DRUMMOND.
On the same day the Bank Solicitor forwarded to the
Treasury the clause altered so as to exclude banking bu-
siness with,n 65 miles of London. On the Ist of August
the 3,000,0001. were to he given back, and this was the
subject of the following letter to Lord Althorp
" Bank of England, Aug. I.

" My Lord,—You are aware that the last advance of
3,000,0001 by the Bank, for the use of the public, is, by the
56th George 111., c. 96, 'to be repaid at such time or times as
Parliament should direct, but so as such repayment of the said
principal sum, with all arrears of interest thereon, should be
made and completed on or before the Ist of August, 183.3 ;,
and in the draught of the Bill for continuing the exclusive pri-
vileges of the Bank, as prepared under the direction of the
Lords of the Treasury, that sum was amalgamated with the
general debt due from the public to the Bank, and making the
aggregate of 14,696,8004, of which total sum one-fourth, or
3,671,700/., was to be repaid. Under these circumstances, it
was the expectation of the Court of Directors of the Bank, that
the measure now pending in Parliament, relating to the Bank,
might have been completed, or at least have so far advanced as
to avoid all questions respecting this portion of the debt, and
which was the more material, as the interest is not, in strict.
fleas, provided for beyond the present day.
" On the part of the Bank, it is our duty to express our
readiness to receive the 3,000,0001. and interest to this day ;
but we make this communication only as a matter of official
accuracy, without intending in the remotest degree to embarrass
the arrangements of his Majesty's Government. What we
request is, the favour of returning us an assurance that the
interest will be provided for until Parliament shall take some
course for discharging the principal, either specifically or by
including it with the general debt due from the public to the
Bank. We have the honour to be, &c.
" R. M. RAIKES, Governor.
" J. PATTISON, Deputy-Governor.
" The Right Hon. the Chancellor of the Exchequer."
No answer was received to this communication. On
the sth of August the Deputy-Governor and himself were
required by Lord Althorp to wait upon him,
when his
Lordshio stated that, after consulting the law officers of
the Crown, they were of opinion that batiks of deposit
might be established within the matropols and its vicinity
tinnier the old Charter. In consequence of this interview, 1

they addressed to Lord Althorp the following letter, dated
on Tuesday, the 6th of August:—

" My Lord,—Since we had the honour of waiting upon your
Lordship, we have reported the particulars of our interview
to those Directors who constituted the Committee of Treasury,
and we feel that we should be acting disingenuously by your
Lordship, if we did not state explicitly that their conviction,
as well as our own, is, that banks of deposit cannot be per.
milled within the limits intended to be fixed as the local limits
of the Bank's exclusive privileges, without a positive infrac-
tion of the agreement made between his Majesty's Government
and the Bank of England, and frequently recognised by your
Lordship. The Directors perfectly rely on the good faith of
the Government to give them the full benefit of this agreement.
" We have the honour to be, &c.
" R. M. RAIKES. Governor.
"JAMES PATTISON, Deputy-Governor."
To this letter the fuliowing answer wag reerived

" Downing-street, Aug. 6.

" Gentlemen,—After the conversation I had with you yes.
terday, and more especially after the letter I received to-day, I
feel that it is my duty to state to the House of Commons, that
a misunderstanding on a part of the arrangement between the
Bank and the Government has arisen, and topostpone the con.
sideration of the Bank Charter Bill till Thursday.
_ . .

" The promise I made in conversation that I would insert a
proviso in the Bank Charter Bill, to prevent the establishment
of joint-stock banks of deposit nearer the metropolis than 65
miles, was on the supposition that such was at present one of
the exclusive privileges of the Bank of England. I never
intended or contemplated an augmentation of their exclusive
privileges. I therefore need not state to you that I think it
inconsistent with my public duty to propose this alteration in
the Bill ; and I shall therefore be obliged to you to let me
know, previous to the meeting of the House of Commons on
Thursday, whether you consider it not to be advisable for the
Bank to accept the renewal of their charter unless this pro.
viso be introduced into the Bill ; as, in that case, I should
have to state to the House what has occurred, and to postpone
to another session of Parliament the consideration of the sub-
ject, when the whole bargain must be reconsidered.
"I have the honour to be, &c., A LTHO ZIP."
The f01i0.% ing letter wa+ agreed on in reply, and way
forwarded to Lord Aftliorp:—

" Bank of England, August 7.
" My Lord,—We have to acknowledge the receipt of your
Lordship's letter of yesterday, which we submitted to our col-
leagues in the direction.

" It is scarcely necessary to remind your Lordship that the
arrangement made with the Bank was founded on the policy
entertained by his Majesty's Government in relation to the
monetary system, which your Lordship pressed on the consi.
deration of the Court of Directors, as favourable, in an increased
degree to the interests of the Bank Proprietors, and which led
to an ass mt on their part to pay a large consideration for the
exclusive privileges to be so secured, whilst it was directly
stated in your Lordship's proposals of the 2d of May, that the
only relaxation of those privileges, as they then existed, was the
permission for joint-stock banks, established at a greater dis-
tance than 65 miles from the metropolis, to draw bills and issue
notes payable in London.

" The privileges of the Bank, as they existed, precluded Par.
liament (see 39 George 111., c. 38., s. 25.) front erecting, esta-
blishing, or allowing any other bank, during the con-
tinuance of the privileges granted to the Governor and
Company of the Bank of England; and even persons who
did not carry on the business of banking, if consisting of
a partnership of more than six, were prohibited from bor.
rowing, owing, or taking up money on their bills, &c.,
during the continuance of the privileges of the Bank, who
are thereby declared to remain a corporation, with the privilege
of exclusive banking. To a certain extent the exclusive pri-
vileges of the Bank were relaxed, with the consent of the
Bank, by the 7th George IV., c. 48; and, although many at-
tempts have been made to e. ade the operation of the 39th
George 111., c. 28, and the advice of the ablest lawyers was
sought with that view,—yet it was found impracticable to car-
ry on any banking business by joint-stock companies, except
so far as was allowed by the Act 7, George IV

" Having called your Lordship's attention to the provisions
of the Acts in force when you made your proposals of the 2d
of May, which were adopted by the Court of Proprietors, we
beg leave to state that we require only on their behalf such
a renewal of their privileges as fairly consists with those pro.
posals. Disclaiming, therefore, any desire to obtain any ex.
clusive privileges which they did not previously possess, but
deprecating any infraction of those privileges by an express or
implied sanction of banks which could not be allowed by
Parliament consistently with the Act 39 and 40 George 111., c.
2S, and in order that the legal view of the subject may be
more clearly understood, we have the honour to enclose a
clause which has been hastily prepared by the solicitor of
the Bank, which, if adopted in principle by your Lordship,
will be open to the further consideration of the law-officers of
the Bank, in order that this corporation may not be prejudiced
by the haste in which it has been prepared, for the purpose of
illustration rather than to conclude the corporation.
" We have the honour to be, &c."
(Signed as before.)
On the following day they received this letter in r ply :--
" Downing.street, August 8.
_ _

" Gentlemen,—l have considered the clause you left yester-
day, and have consulted my legal adviser upon it, and by his
advice, I have to state to you that it does not appear to effect
in the best manner the object you as well as myself have in
view—namely, that of renewing the privileges of the Bank
without any infraction of those privileges, and without giving
any exclusive privilege which it does not possess. In conse-
quence, I have directed a clause to be drawn, which shall effect
the object in view in a way which I hope will appear to you
more satisfactory. I send the clause to you as it is drawn, and
beg of you to tell me whether you agree to its insertion in the
Bank Charter Bill.—l have the honour, &c.

" ALTHORP."
On the 9th of August (Friday) another letter was re-
rcewed from the Chancellor of the Exchequer at half-
past 11 o'clock :
" Gentlemen,—l submitted the clause you gave me to my
legal advisers, and they are of opinion that it does not inter.
pret the law correctly. This being the case, and the principle
on which we have agreed being that with respect to banks of
deposit no alteration is to be made in the exclusive privileges
of the Bank of England, I send you a clause which my legal
advisers have drawn with a view of removing the ambiguity
which at present exists on this point, whilst in their opinion
it neither adds to nor takes away from the exclusive privileges
of the Bank of England.
" I shall be obliged to you to let me have an answer by three
o'clock this afternoon, as I must proceed with the Bank
Charte: Bill this evening. " I have the honour to be, &c.

" ALTHORP."

A Special Court was called, and an allbkVel was de
livered to Lord Abhorp by three o'clock, as toll,.ws:—

" My Lord,—We have to acknowledge your Lordship's let.
ter of to-Jay, enclgsing a clause prepared by your legal ad-
visers, in lieu of the clause we had the honour to submit to
your Lordship on the 7th inst.
" Your Lordship's letter and enclosure have been considered
by the Court of Directors, and we beg to state that, although,
in our opinion, the clause prepared by your Lordship does not
carry into effect, literally or substantially, the agreement en-
tered into between his Majesty's Governinent and the Bank of
England, and that, contrary to the intention declared in your
Lordship's last letter, it does ' take away from the exclusive
privileges of the Bank of England ;' yet, considering the im-
portance of concluding the transaction, and of relieving com-
merce from the inconveniences of further delay, it is the de-
termination of the directors to submit to the terms now pro_
posed by his Majesty's Government.

" We have the honour to be, &c.,
" R. M. RAIKES,
" JAMES PATTISON."

FRENCH PAPERS.

(From the Memorial Bordelais.)

We can state that, on the 30th of July, the Spanish
Cabinet delivered a diplomatic Hoe to the English and
French Ambassadors, by which his sLat Catholic Majesty,
with the view of preventing the further effusion of blood
and the desolation of a country to which he was so a,-
tubed, proposed to enter into negotiations on the subject
of the recognition of Donna Maria da G'oria as Queen of
Portugal on the conditions following, and which Spain
considered essential to maintain the trauquillity of Portugal:

" Ist. That Don Pedro and Don Miguel be for ever ex-
cluded from the Portuguese territory.
" 2d. That the Marquis of Palmella be Regent in the name
of Donna Maria, who shall exercise the executive power ac-
cording to the old laws of the kingdom, until Portugal shall
regulate, with the consent of the Great Powers, the conditions
of the new Charter.

" 3d. That all foreigners who have taken part in the con.
test, be excluded from Portugal, except those who may desire
to be naturalised, in order to enter into the service of the
Regent.

" 4th. An amnesty for all persons up to the day of the tri.
umph of the Queen.

" sth. A suitable annual income for Don Pedro and Don
Miguel, to be paid out of the Royal treasury.
" 6th. The debts contracted under the reign of Don Miguel
to be recognised, and the honours and grades conferred by his
Government to be accorded.
" 7th. A treaty between England, France, and Portugal,
never to recognise any other Princes as legitimate successors to
the crown of Spain than those called to reign after the ancient
law of the Spanish monarchy, re-established in 1830 by the abo.
lition of the Salic law.
_ .

"6th. A guarantee, on the part of France and England,
that Portugal will never permit, under any pretext, that the
Spanish frontiers be troubled or menaced by political parties,
who receive directly or indirectly their protection.
" 9th. Donna Maria da Gloria is not to be allowed to
marry any Prince of the three families reigning in France,
England, or Portugal, but that the choice of her husband be
regulated by the Continental Powers.
" 10th. That the Government of Donna Maria shall never,
without the previous assent of Spain, have a larger army than
is necessary for the maintenance of order.
" Subject to these conditions, Spain engages to re-establish
its relations with the Government of Lisbon on the same foot.
ing as during the reign of Don John VI."

A grand sweep has taken place at the house
of a great Embassy. Secretaries and all have been
removed. It is said to have been a political movement,
emanating from an illustrious potentate..../Iforning Post.

'-...............,
riticES OF STOCKS THIS OAT''''.... c lg.
AT ON' 0
11 .0 pal
ink Stt tat 200% 104 New 5 per Cent, •••••••:_,.. "i. ,
per Cent. Ree ....Q9 kg, % India Stock .........• eigi 51 0
3 ~er Cent. Cons 80% 9 4 Ditto Bonds ........... ..„0 ,
per Cent.
_,. •••_-,
lino Re' 96% 7 Old Annuities ••••••
..;
NT nv 3% per Lent 96:% New Ditto ...... ••••:„1
....o,
oer Cent Ann. 172 i. , 3 per Cent. Ann. 14'5 46 fir,i.,
I per Cent. 18211
.5 46 itst.
,ank Long Ann to exi i re Ditto. , .. .......500.di 4644,
Jan. 5, 1861,
Oct. 10, 1,,m0
Jan, 5, 1860
D
Jan. 5, IMO
Aprils, 18841 1177 5-1-116_617%44 1) tot();
fCSmA AdvertisedSmall
C 'uln;tll: .4.....5........:::
.....
India for Account ...
...)
r K' aI"C E S 5, I
0 F 47 '—
FOREIGN
Austrian Bonds ...
0814 Peruvian Bonds .... :Fe i
Belgian Bonds 96%44 Portuguese Bonds ..... 881 ,
Ditto Account ,ft-i% Ditto Account ....... OVo
Brazilian Bonds ... 714 ( Reg. Scrip .......... ~, ,
I Pitt° Account 7114 34% 1 Ditto Ace. ...... 24 i
..".„0
Buenos Ayres Bonds —.214. 'Prussian Bonds ._ .......
Ditto Account Ditto Bonds, lfrt2. . ..... 1 A
Chilian Bonds ..
Ditto Account
Columbian Bonds
Ditto Account
Ditto Bonds, 1824
Ditto Ace,iiint
I
Danish Bon,ii
Ditto Ace, nut 227744. 2274
F —Spanish
rNDDDi:neiii ttttcwttthooo L A 'BRAAABoecoccannc:nnotdi
5uin:n.7:1:58.8%....2.,....p...ii.........c
..:::::..... ......ji
Greek Bonds 324 1 - ---. Exchange ..... ...id.
Ditto Bonds, 1825
..,f ,
Ditto Account —; Exchange .••• 0,51
Mexican Bonds, 5 per cent 394 Dutch,' 21 p. c. ........... '...1i1i
Ditto Account al i Ditto Account ........ , ,
I itto, 11 per cent 40414 1 i Ditto, sp. c.............: Alt
Ditto Account 4044 : Ditto Account ........
Neap01itan.................... 924 branch 5crip............ ''
PRICKS OF SHAKES Tills DAT AT Ol‘F 0 CIA;f: 4116)
Paid. e 0
Anglo Mex. Min. Co. (iss. at Si. pm.l £lOO •
141
Rolanos Mining Company £l5O 1
Brazilian Mining Company £s 61
Brazilian Imp. Min. Co. uss. at 51. pin.) £2O 95 ay
Ditto National 2O 11 I
Ditto St. John Del Rey
Ditto Cocars 5 i aS
Cata Branca Mining Company l% I.
British lion Mining Compaiiv .CSO 95 ,
Columbitn Milling Co. (iss. at 51. pm.) 51% 9
iths
English 51i...ng Company 12%
general Nliiiinv Association •l2 "..4,
Hibernian Mining Co £lo 1
Mexican Mining Co
Real del Monte Mining Co ... , - ...— 55'
lilted Mex Min. Co. (iss. at 21. pm.) 40 12411
,_
Ditto New Solo 5 1
Alliance Fire Insitrance Comp lO gl 6i. 1
Protector Insurance Comp.
Australian Co.
Canada Company l7 15
General Steam Navigation Co
National Provincial Bank of England 5 96 5'
Provincial Bank .if Ireland 95

PRICKS .)1, IRISH STOCKS, H 0151414, ALI..• 10. ot/
Bank Stock ... ...... ..... 213 it. Patrick
Consols, 3 oer cent 89% Royal Irish Ditto
Gov. Stock, 3% per cent 95 lational ....... ow' /
Ditto, New
_96
u'aitberinintijaenDlßtanto.k . ........
..
per Cent.
:;ov. Deb. 3% percent BB% 'Provincial Ditto /
Royal Canal Stock
Grand Canal Stock 2l Imperial Mine .....
City Deb. 4 per cent - Mining Co. of [relent.
R""^". -1,4, 4 n. e commercial

cUILMSY ul, MICH*
Amsterdam C.r 12 4
Ditto, at sight...« .... .. .. 12 2
Rotterdam 2 U 12 4
Antwerp 12 7
Hamburg M.S. 1313}
Alt ma l3 13a
Paris, 3 days' sight 2'i '75
Ditto 2 U. 25 95
Bordeaux 26 0
Berlin
Frankfort on Maine, Ex. M :53
Petersburgli, ruble, 3 Us. 10 0
Vienna, effective ft. 2 M. 10 3
Trieste do . 10 5
Madrid 3714
Cadiz 37%
Bilboa 36%
Barcelona 36%
Seville '36%
Gibraltar 47%

Arrived

MA
Due.

O America 1
0 Brazil
0 Buenos Ayres 0
0 Carthagena 0
1 Dublin 0
O Flanders 0
C France 0
O luerme &Jersey 0

BOK YESTERDAY. 41
Nt9o
Leghorninaona : .'"";
,L, 49
vaie,sipnweiiiecmnse .........o
Oporto .....................
Rio Janeiro ............
Bahia ..... .0.00 ....... " ..
N j
Buenos Ayres ............
Dublin, 21 dayesign"..o
Cork ...........................
BULLION, PO
.0, a
0
Portugal Gold, 5 In 0,
Foreign Gold, in Di..o 0 N
New Doubloons ....••••• n40
Vew Dollars ......
Silver bars, standard.**

ILS.
Arrived.

_ -
0 Hamburg 0
O Holland .....«•«.,,,. 0
O Jamaica...l....li
O Leeward 0
• Lisbon ........ 0
O ....... 0
1 Sweden . ..... .•••
1 Waterford

-UGH wATEA AT LONDON !impale fO-1N0..--

m ! •