The Sun.
London, England, 1834-12-09 00:00:00

NATIONAL BANK OF IRELAND.

millions, and Ireland had never beyond seven or eight millions
in the highest state of the paper currency. (Hear, hear. )
What do I do myself? My entire property is in it. ( Hear,
and cheers.)—l may indeed be told I am but a tenant for life;
and that my property is not very extensive. Why, it is my
all. ( Hear, and continued cheering.)--If I be a tenant for
life, I at least would lose my entire interest. My eldest son
has embarked his property in it ; we float in the same bottom,
my own and his interest are involved. (Hear. )—And if my
eldest son be dear to my affections, there is another gentleman
whose children are bound to me by as strong a-tie as that of
my son's. Your property, too, Sir, is equally involved. If
the poor then suffer by this bank, they cannot do so until my
grandchildren are beggars. ( Hear, hear, and loud cheers.)
I shrink then from no responsibility. ( Hear and cheers. )
I did not propose this plan until I had taken every precaution
to provide for the Irish people, and that there should be the
fullest security for the noteholders. ( Cheers.)--What then
are the advantages that I propose to the shareholders ; because
whatever political or personal sacrifices I might be required to
make for the national good, I could not call upon a commer-
cial man to embark in the speculation, unless I proved that it
would be profitable to himself. It is intended that the profits
of the bank will be divided amongst the shareholders. In the
Provincial Bank we perceive that the result has been, that
every man who has embarked money in it has not only received
a large interest upon it, but there has been an addition to it
of 90 per cent. A friend of mine who had embarked a large
sum in that bank had occasion to sell his share the other day,
and there was an immense increase in his capital. (Hear, hear,
hear. )—I do not know the exact amount, I am told 92 per
cent. on the original capital, but I do not come to canvass the
details of the Provincial Bank, farther than it illustrates the
profits made by it. What is the plan which we propose to et-
bablish ? To have local branches in every district that calls
for it in Ireland. The plan of a local branch in Dublin I shall
speak of presently. It will be within the meaning of the sta-
tute law, and without infringing any law. I have stated that
the Provincial Bank has increased in its profits under good
management. We know how its profits arise, but there are
other means by which we propose our local banks will be
equally useful and profitable. We propose that each local bank
shall carry on its distinct business in a safe paper currency,
fitted to the commereiel business in the locality in which it is
established ; but we also give to the country the benefit of cash
credits. Wherever there is a security entered into with a bank
against loss, there a cash credit will be given. This has been
found most useful in Scotland—it has conferred great advan-
tages upon both countries, and we will give to Ireland the be-
nefit of the Scotch plan.—( Hear, hear, and cheers.) The
provincial bank has not hitherto availed itself of this plan,and
it never could upon the basis on which it was established. It
is a plan which must confer great advantages upon the local
shareholders.—( Hear.) The shares, it is intended, shall be
as small as possible—l believe they will not be higher than 51.
shares. So, that every man who has put down his name for a
501. share will get ten 5b shares instead of one. Whatever
sum be subscribed in each locality—if it be 5000/. or 50,0001.,
or 100,000/., that instant the capital there will be doubled by
the receipt of a similar sum from England. The very instant
that any locality subscribes a particular sern--or if that lo-
cality increases its capital, and its share becomes more ex-
tensive—that instant, whatever be the sum it commands,
it is doubled from England.—( Hear, hear, hear.) We
mean that this bank shall be placed upon a basis which must
do good throughout Ireland, and that wherever a bank is
wanting, and that the people are convinced it would be for
their good and advantage to have one, it will be established
there. This establishment, too, means to pay a reasonable
interest upon deposits.—( Hear.) It holds out-these advan-
tages to the country—the speculation upon actual capital, and
not imaginary capital, and the amount must be made before we
begin to trade. We have all the credit of such a capital—we
can extend the operations of a secure capital to a sufficient
extent for all local purposes. This is my plan—it enables the
country to have a safe and secure capital, and to enjoy a pro-
per circulating medium for all the necessary purpoSes of busi-
ness. There will be perpetual inspection of • accounts—a
monthly return from each locality, and there will be a power
in the London Committee of winding up the concern, if there
should be a want of caution, and unnecessary losses incurred.
But a great security for proper management will be found in
this, that it will not rest with the individuals who are themselves
shareholders in those localities to elect their own managers.
The election of those managers will, to be sure, be subject to
the controul of the gentlemen who are the directors in London ;
for if the name of a person who is not found to be fit is elected,
he can be returned, and the localities can elect another in his
place. This is only giving to them who are responsible for
all, a proper controul in their own concerns.—( Hear, hear.)
Of course the motive in each locality will be to nominate the
fittest men. No man can vote who has not a property in the
stock of the bank, and each will be anxious to elect him whom
he considers the best suited to take care of his property, and
make it advantageous to him.—( Hear and cheers.) These
are the plans, and this the basis, upon which we wish to
establish the National Bank of Ireland.—( Hear, hear.) I
may be told it is unnecessary. I tell you that it is necessary,
if it were for nothing more than to prepare for the period, and
I distinctly avow it, in which the Bank Charter will expire.—
( Hear and cheers.) When that period does come, I hope the
National Bank will be able to meet and put down the mono-
poly.—( Hear, hear.) If the Government should at that
time want a loan, by way of security at the time the Bank
Charter expires, if I do not mistake we will be able to offer it
to the Government upon as good terms as the Bank of Ireland.
And then there is that shop in College-green,—it cost them I
am told 70,000/. or 80,0001.—it may be bid for, unless in the
interval it shall be wanting for any other purpose which I shall
riot allude to now. And you, I know, do not understand me
at all.—( Loud laughter.) Here I should sit down merely
proposing the adoption of the resolutions, and discussing in a
few words our capability of having a bank in Dublin. I am
now a lawyer of some experience, and I have looked with great
attention through all the statutes, and my conviction is, that
we shall be perfectly able to establish a bank in Dublin. In
that bank there cannot be more than six partners—perhaps
there will not be so many as six ; but there certainly will not
be more.—(Hear.) But this bank can have branches in
Drogheda, Dundalk, Newry, and in all the towns within fifty
miles of Dublin. That bank I pledge myself will be
abundantly supplied with capital. It will be the agent of
all the local banks in Ireland and their connexions. That
agency, if they were not established, should go to somebody
else—there is a Scotch proverb, " that the guts of Scotch
sea fish should only go to feed Scotch sea fowl," and so
it will be with the bank in Dublin; it will have the advan-
tage of a connexion as agent with all these different local
banks in Ireland.—( Hear.) I think we should reserve to
ourselves the benefit of all our own agencies. I am also
instructed that there will te a local bank established, with
which we can do business, in Liverpool. At present I am
told that the Provincial Bank is obliged to leave unemployed
100,000/. in Liverpool for want of a Local Bank there.—
(Hear, hear, hear. )This will not occur to us, for we will have
a local bank there, and shares have already been purchased in
London by men of capital in Liverpool. I may be asked
why the Provincial Bank has not adopted the plan ? I will
tell you the reason, it did not foresee its own success. It origi_
nally was limited, and it is actually tied up by its own deed.
They are hampered in it, but we shall have all the advantages
of which they are now deprived. I should now be silent, and
merely propose the resolutions, declaring that we can have a
Bank in Dublin, which will keep completely within the statute
law, but that some observations are calved from me respecting
another establishment, which is necessarily connected with this
subject. Now, two men cannot differ more respecting the
Hibernian Bank than my friend Mr. Reynolds and myself,
think that the gentlemen who direct that Bank are men Inca_
pable of acting wilfully wrong, and too intelligent to permit
any casual mismanagement. It is my decided conviction that
it is a prosperous concern. I read with considerable interest
the statement of Mr, Ford, arid the conclusion I have come to
is,tliat considering it is not a bank of issue, it is really a prosperous
concern. I find that its profits are accumulating—its expenses
are pontrouled and Certain, and its dividends are made yearly
and steadily, There is a perfect certainty of its being a safe
concern, and so far from thinking ill of it, I would suggest to
the Committee of London to have it as a Bank tq receive our
deposits for the Local Bank to be substituted here, But then
there has been another establishment of much more recent foun.
datlon,which has assailed me 41 various ways, and attempted to
tarnish my reputation amongst Irishmen, It has said I was do-
ing a great deal of mischief—that I have been establishing
Irish banks upon gnglish capital, while there was plenty of
capital in Ireland. But, while it accuses me of this, it for-
gets that these who have capital in Ireland are subject to the
dissensions which have prevailed he: e, and who are influenced
by feelings that will not allow them to do that with their capital
which the Englishman is ready to do. The capital was want-
ing—it will net be giYon In Ireland—and Is it a want of pa-
triotism to seek for it in England, where it can be procured,
and when, by its introduction, it benefits the country? The
Provincial Bank, whatever crime there may be in it, procured
its capital in London, and it has proceeded with safety and
success, Now, the Provincial Bank takes all the profits, and
expends them in England. Now, I have done that which is
still better than the Provincial Bank, I have secured that the
half of the profits of the National Bank will remain in Ire-
land. I have got at least ten shillings in the pound beyond
the Provincial Blank. I trust I shall yet see Irishmen, pos-
sessing by their industry and honest exertions, to which this
bank will give the greatest impetus, able to command far
more than the half of those shares, and expending them
here. Per the present Irishmen hold the Irish stock. I pos-
h sess a hundred shares, and spend the profits in Ireland. Ex-
cept when I am obliged to go to another place—which I will
not now name—of course all I have is spent in Ireland.—
( Hear, hear.) I will now only allude to this as one of the
advantages of the London direction. When there was a run
upon the Provincial Bank, some years since, one million of
slvereigns was sent to this country in three days from Eng.-
land.—( Hear, hear,) When General Jackson created the run
upon the American Banks—and Jackson did wisely, for they
attempted to control liberty, and were becoming a money
oligarchy.. and What do you think would the Ameiican banks
have done but for their London shareholders ?—( Hear, hoar, )
The latter, to save their property which Wai endangered,
forwarded three millions of sovereigns to meet the run,—
( Hear.) I propose then a connection which cannot but be
advantageous. I shall now move two resolutions for the
tldoution of the meeting.—( Hear, )
sCII.
I believe halo touched
upon every topic of interest9TlßOO with this subject. Mr.
Murray, one of the managing committee in London, will re-
port the state of proceedings there, and he will be ready to
give every explanation to any gentleman who may require it.
Mn. I,4min Muaß4 next addressed the meeting, and was
received with loud cheering. As the only person deputed by
the board of manaement in liondon to attend it, he begged
to assure them, that he could have been accompanied by others
of its members, were it not for the shortness of the notice
which they had received. Their absence did not arise from a
want of interest or proper feeling on their parts, but solely
from the circumstance to which he bad alluded, lie was

(From the Dublin Morning Register.)
An extremely numerous and respectable meeting of persons
interested in the proposed Bank was held yesterday at the
Corn Exchange, to adopt such measures as might be deemed
advisable to forward the plan in conjunction with a Local Bank

in Dublin.
CHRISTOPHER FITZSIMON, Esq., M. P., was in the chair.
Mr. JOHN REYNOLDS, Secretary to the Bank, read the
prospectus, and advertisement convening the meeting.
Mr. FITZSIMON expressed the gratification which he felt at
being called on to preside over so large and respectable an as-
semblage, which was called together for the consideration of
banking details, and not for any particular purpose. He would
hear every gentleman who wished to express his views upon
the subject ; and, in doing so, they would all be called upon to
show that this establishment would be beneficial not only to
the shareholders but to the public generally—( Hear, hear, and
cheers.) With that hope he and other members of parlia-
ment hard been induced to join it ; and if they thought that it
had not those for its objects, they would not have lent their
names to it—( Cheers.)
Mr. O'Cossem, here presented himself, and was received
with loud cheers. I inserted, he said, that notice in the
newspapers, and I have called this meeting for the purposes
specified in it, with the intention of submitting my ideas upon
the subjects referred to. lam here perfectly determined to
do that, and I shall not go one inch beyond them, unless, in-
deed, I am obliged to do so, in what I would call the neces-
sary defence of the principles I wish to establish. I wish, in
the first place, to premise, that being so much a political man,
my life being passed so much in the warfare of politics, I am
still determined here to avoid, and, if possible, rigorously to
abstain from every political allusion, which not only naturally
but necessarily is involved in the business that has brought us
together to-day.—( Hear.) So far is my object from being
political, that it is directly the reverse. It is purely com-
mercial—it is the reverse of politics ; and it is so, because I
wish to reserve the banking system in this country from poli-
tics. Hitherto it cannot be said that this was the case.—
( Hear, hear.) Every man acquainted with the city of Dublin,
and the Bank of Ireland, is aware that that Bank is not only a
commercial but an active political body—that its politics have
governed many of its transactions heretofore, and that religious
differences were observed in it, while religion excluded parties
from it to the latest possible period. If at the present moment
they have abandoned their differences, it has been stingily, and
with as much reluctance as it could possibly express.—( Hear.)
Then, as to the Provincial Bank, of the perfect impartiality
with which, in many places, it is directed, its absence from po-
litical interference, I am able, as I should wish to be, to speak;
but there are many, many instances in which politics have not
been excluded by those who have had the management.—
( Hear.) I myself applied to the Directors of the Provisional
Bank of London upon this topic, and instead of receiving a
satisfactory answer, the evil was rather aggravated, as if to re-
taliate upon me for the impertinence of the interposition.—
( Hear, hear.) Seeing this, I determined, if I could, to have
a bank established, which should be free from all sectarian
differences.—( Hear, hear.) And here I announce, that if in
the working out of my plan it can be shown that the Directors
interfere one way or other with politics, as it has been done in
other banks, so far from supporting, I will do my utmost to
opppse them. What I want is this—to have a Bank established
in Ireland—to have separate and distinct banks in the different
towns in Ireland, in which the only inquiry should be whether
an account should be opened with a man. on account of his
solvency ; and whether, when a bill is sought to be cashed,
the parties to it are solvent : and not what are their politics
or their religion ; but solely, is the bill a good or a
bad one, and is it a proper subject for a commercial
transaction ? This is my object, and I came not here
to address you on politics or parties in Ireland. I came
here, excluding all parties, and wishing to speak upon a
subject which is purely commercial. It is with such an
object that I avow myself the supporter of the National Bank
of Ireland. From such an establishment I would exclude all
political preferences.—( Hear, hear.) It may, however, be
said, that we have more than a sufficient number of establish-
ments of this kind in the kingdom. I confess, that feeling it
to be my duty to investigate the principles of the monetary
system, in the various countries of Europe, and how they
should be.based, I am convinced that in the instruments of ex-
change, gold is too dear an instrument for a great and com-
mercial country like England; and far, far too dear for a
poorer and debtor country as Ireland undoubtedly is. Seeing
the mischiefs which have occurred, the mischief of an over
issue of paper, and also the mischief of too limited a quantity
of the circulating medium—l am for a safe and salutary. cur-
rency, which will yet be established, and which, as human in-
stitutions are ameliorated, it will be discovered that -no
state does its duty for the protection of the people which does
not provide them a secure instrument of exchange for the pre-
cious metals. In such a salutary state of society the.governing
power would have a sufficient profit in the difference between
the cheap instrument and exchanging that for the cheap in-
strument. lam stating, at the outset, what are, perhaps, ab-
stract, but are not the less probable, principles ; I am stating
what are the opinions of the best political economists, who have
discussed the subject of the currency—we find that the invariable
conclusions they came to are, that a country should have a safe,
and at the same time an abundant circulating medium.
That such an object cannot now be achieved without joint-
stock companies is, I believe, perfectly true. Look at the
effects which have been produced upon society by the present
stock companies in Scotland. See how much that country
has improved in the course of a few years; and it is a country
inferior to ours in extent, and inferior beyond comparison to
ours in fertility. See how it has increased in prosperity ; from
being the most lawless, wild, and savage, it has become a
most tranquil country ; and, as it was before remarkable for
its poverty, it is now distinguished for its wealth and trade.
I find these facts respecting Scotland concomitant with the
tread of joint-stock banks throughout the country. I find its
prosperity and tranquillity both coeval in Scotland with the
establishment of its banks. In Scotland they were not begun
until about sixty or seventyyears after the Union, so that there
is no reason for supposing the Union there had anything to do
with the advantage of the country. At the time the Scotch
stock banks commenced in that country, we see the prosperity
of the people keep pace with it, and they proceed pdri passu
the one, with the other.—( Hear.) I am thoroughly convinced
that this is a strong practical illustration for us ; and this being
my opinion, I would desire to extend to Ireland that which has
been found of service to the Scotch. But, then, we have
before us the example of other banks. There is the monopoly
of the Bank of Ireland, and its extravagant machinery, which
is as oppressive as it is costly. It makes a profit of the
monopoly of the dealings with Government—being in its
nature, and like every other monopoly, exceedingly expensive.
Still its revenues are most productive. There is before us, on
the other hand, the complete success of the Provincial Bank
of Ireland. I In that the shareholders are responsible for the
full amount of all the notes in all the branches. Every man
who has a share in that bank is involved to the extent of his
entire property for every local and distinct branch. The con-
sequence must be that, in the board of management, on ac-
count of the large extent of property for which they are secu-
rity, a close and perpetual watching must be kept of every
particular; and, as they extend their business in each locality,
they increase the amount of each individual shareholder's re-
sponsibility. That bank has prospered so much that, besides
putting by reserved profits,and paying high interest to its share-
holders, it has raised 46 or 46 per cent. each share.—( Hear,
hear.) lam this minute told that it has raised 92 per cent. ;
but that, I suppose, must be upon the paid-up capital.—( Hear,
hear.) You have the success of that bank for your imitation,
and if you imitate, as far as it would be prudent in you to do
so, you must be successful. If there be defects in the Pro-
vincial Bank, I would avow them ; and as I do expect that we
will have still greater success than they, I have called you
together to consider two propositions, which are united in my
plan, and, in addition to that, to consider the propriety of
establishing a local bank in Dublin.—( Hear, hear,) The
two principles which unite in my plan are, " commercial ad•
vantages to the shareholders," and " perfect security to the
noteholder."—( Hear.) Now, I will reverse them, and take
up first the proposition as to the security of the noteholders. I
am a public man—l am a great deal in their cenfldenee—l
have
no small share of influence amongst my countrymen.-,
( Cheers.) Certainly more than any man, much less a man
like me, deserves.—( Cries of " No, no," and cheers.) But,
the more I enjoy of influence, the more awed the duty is im-
posed upon me to take exceeding care that that influence is so
used that no man, hereafter, shall reproach me that he has
lost one penny of his property by me.—(Cheers.) The more
my influence extends, the more careful and cautious must I
be In its exercise—the more am I bound to bc anxious that
that which is confided to me for purposes of public utility
should lint be tortured into the loss or injury of any one. But
if any man be bound beyond the power of language to
describe, lam that person—and whose duty it especially is to
take care that the poorer classes in Ireland shall not lose i as
they are men who suffer most severely when a bank happens
to fail—(hear) ; this is ray ditty, as a public man, and I am
bound to perform them, from the debt of gratitude
.which I
owe' to my counts y.—( Cheers.) But there are imposed upon
me still more awful responsibilities, both as an honest man and
a Christian ; for I cannot but be guilty of robbery and a crime
before God, if I lightly, or idly—l will not say with a
worse motive—embarked in a plan which was not per-
fectly secure for those who were the holders of the notes in
this country.—( Hear, hear, and cheers.) The first thing I
am bound to provide for is this, that the notes shall be paid
whatever be the property of the shareholders. I stated this
to the Committee in London, that I would not go into this con-
cern until I was quite certain that there never would be a note
issued here which should not be paid for in full.—( Hear, and
cheers.) I should prefer if the entire of the concern was in
Ireland—if the machinery was in Ireland—if there were the
capitalists who would stake their entire fortunes, incur great
risk, and were familiar with business of this description. I
co:'ld not procure them here : but such advantages I was able
to obtain in England. We, too, by having the Directors
there, any local causes of quarrel, in giving the preference of
management and such other matters, we avoid all these, be-
cause there can be the constant and the just excuse given, of
there being a co4trpt4l over the localities by the men in Lon-
don. I stated that we should pot commence doing business
until a million was subscribed--nor is it to commence. We
will have a million to begin, and we are now 'close upon ii—
( Hear, and pkgs.) Men have taken shares in this bank—
their names will be reed: ,12,d ; and I tell you this, that I am
far from exaggerating, that
•pr,uo4ate that there are sub-
scribers who have capital in their own right "amounting to 20
millions aterling,-( eheors. ) I was desired to state that they
were worth 40 millions,,-but only taking it p,t one-half, lam
able to assure you on authority, that individgals have taken
shares who have at their command at least 20 millions. They
involve the enti:e of that in this bank—they will have the ma-
nagement to be sure, but they will also have the responsibility.
It is ipapifes from this that those who hold the notes of this bank
„wit be ,Nep ale resronsible who own twenty
. . •

THE SUN, LONDON, TUESDAX, DECErsiBER 9, 1834.

sorry that a severe cold, which he was then labouring under,
prevented him from addressing them at length, which he
would have wished, and he still more regretted that the duty
of representing a great and important establishment, had de-
volved upon an humble individual like himself, whose powers
were so totally inadequate to the task which he had under-
taken. Mr O'Connell had as fully and clearly explained
the principles and features of the proposed bank, which he
( Mr. Murray).beliesed to be fraught with many advantages to
the people, that little remained for him to say even as to its
details. The aspersions which had been cast upon the-mo-
tives of the founders of this establishment, by men who were
perhaps influenced by jealousy in so doing, had been so ably
and eloquently refuted by the Honourable and Learned Gen-
tleman, that it would be scarcely necessary for him to
notice them.—( Cheers.) They had put upon their Corn-
mittee of Management men who were well-known in Lon-
don as possessing wealth and station in the commercial
world, and whose circumstances were open to inquiry. He,
for one, and the board for which he was acting, disclaimed
the feeling which had been imputed to them towards any
rival establishment existing or purposing to exist. The atten-
tion of English capitalists had long been directed to the bank-
ing system as -applicable to this country, and the success of
the Provincial Bank had encouraged them to make the present
experiment. No country in the world possessed greater natu-
ral resources than Ireland, either as to the fertility of her soil,
or the physical strength of her people.—( Hear, hear.) Un-
fortunately, they were undeveloped by the application of ca-
pital, and her capabilities were neglected. It is the purpose
of this establishment, by supplying this deficiency, to advance
the interest and happiness of the Irish nation. He had no he-
sitation in saying, that it would go a great way towards effect-
ing so desirable an object. The simplicity of the system, and
the security which it afforded to the public, as Mr. O'Con-
nell had told them, from the large fortunes of the men em-
barked in it, promised it success to the fullest extent. It
would ensure to every locality in the country that capital, for
want of which trade awl commerce had hitherto languished.
Political regeneration involved the interests and welfare of the
human race, but without commercial regeneration it was in-
complete. The object of banking, if it had any at all, was based
upon principles of public utility. Except it had that principle
for its support, joined with ability, no advantage could result
from it to the shareholders. The interest of the public and the
shareholders must go hand in hand together. Of course the men
who established this Bank consulted their individual interests. If
they thought they could advance them without also promoting
the public interests, they were much mistaken. They would
not be what they purposed to be, nor would they deserve sup-
port. The plan upon which the Bank was to be carried on
was by the establishment of branch banks in every town, di-
viding their profits with the local shareholders. This would
be done with the assistance of the capital subscribed in
London. If the institution succeeded, the profits must be
great ; and, although the capital commenced with a million,
yet it would still further increase as the concern progressed,
by the additional issue of shares, the profits upon which
would eo to the first proprietors. The probability was that it
would soon cease to be a nominal capital, and become an
actual paid-up capital of several millions. The most impor-
tant advant age resulting from banking was the development of
credit. The Bank of England had lent its whole capititi to
Government, as also the Bank of Ireland, and the profits of
both establishments were derived from that source. By a large
capital . they would be enabled to derive a greater degree of
credit, and draw out the resources of the country. This
was the true principle of banking ; capital was only useful
as a security, in knowing that it was their manifest interest
to have a large amount of it. The security which was
afforded to every man by the wealth and influence of the
men embarked in it was obvious. By a clause in the deed
of settlement, the directors were liable, if they endangered the
concern beyond a specific amount of loss, and it was not likely
that they would endanger their own property by so doing. This
was not a time to enter into particular details, after the able
exposition of Mr. O'Connell, and he should merely refer to
one object more of this meeting—the establishment of a local
bank in Dublin. There was no doubt that the charter of the
Bank of Ireland prevented the establishment of any joint
stock bank within fifty miles of Dublin.—( Hear, hear.) The
Hibernian Bank had a particular Act of Parliament in its fa-
vour, but without the privilege of issuing notes of their own.
They were not, therefore, able to take advantage of the legiti-
mate credit to be derived from its own capital. That was not
the fault of the directors of that bank, but of circumstances
over which they had no control. The National Bank of Ire-
land would be unrestricted in this respect by the plan which
they contemplated of establishing a local bank in Dublin. It
would afford equal security from its capital to the Hibernian
Bank, or any other bank, and they would take advantage of
its credit by the issue of its own notes. It was not necessary
for him, then, to go into details of the manner in which it
would be done, but the plan of it would be laid down in their
deed of settlement. If once established in Dublin, he had no
doubt that it would enjoy the confidence of the people as much
as the Bank of Ireland—( Hear, hear, and cheers)--and that
their joint capital would soon equal in amount the three mil-
lions, which constituted that of the latter establishment. He
regretted that indisposition prevented him from entering as
much into details as he could wish, but he should feel happy in
answering any questions which any gentleman might put to him.
Mr. JOHN REYNOLDS, secretary and agent to the Bank—Sir,
I feel it my duty to state, that although this meeting has been
called for the purpose of establishing a local bank in this city,
in connection with the National Bank of Ireland—that we have

alroady made great progress in forwarding that object. The
meeting will, I have no doubt, feel pleased to hear that I have
obtained subscribers to the amount of 100,0004 of the local
stock of Dublin, and amongst the subscribers will be found
some of the most respectab:e and influential of our fellow-citi-
zens.—( Cheers.) I also feel it necessary to state that I have
recently visited several towns of great commercial importance
in the south of Ireland, for the purr ose of establishing banks,
in all of which I have succeeded to the fullest extent. Several

banks will be in operation early in January, and amongst the
first will be Carrick-on- Suir and Tralee. In both those towns
the local shares are sold, and the subscription paid up. Bank-
ing houses have been taken, and nothing remains to be settled
but a few details of minor importance.—( Hear, hear.) The
committee which has been appointed will meet at least once a
week for the purpose of receiving applications for the Dublin
local shares, and transacting other important business, and I
have no doubt but the citizens of Dublin will, before the expi-
ration of many months, enjoy the benefit of a local bank, which
will prove not only profitable to the proprietors, but highly ad-
vantageous to the mercantile community.

The Duke of\ Devonshire remains at Devonshire
House until the new Ministerial arrangements are completed.
his Grace continues to perform the functions of Lord Cham-
berlain, in which capacity he has to direct the ceremonial of
the approaching funeral of his late Royal Highness the Duke
of Gloucester.

We understand the Marquis Camdn will be elected
Chancellor of the University of Cam ridge without opposition.
W. H. Elkins, Bookseller, of 85, Lombard-street,
City, begs to inform the public) that he continues regularly
supplied with the Hamburg Import and Export Lists, Price
Currents, 80,, B#o. ; that be has also on sale all the Lists of
Drawing of the 84th Hamburg Great Lottery.
Dorchester House, in Park-lane, is undergoing a
course of improvement, but it is impossible to- say when the
Noble Marquis who owns it will return. Workmen are now
employed in constructing a superb balcony on a new plan.
Lord Hertford was last month at Munich, whither his Lord-
ship went to visit his ward, the Countess Berchtold (late Miss
Strachan), and to invite her to visit him at his Palazzo at
Naples, where the Christmas will be passed.
We regret exceedingly to hear that it is his Royal
Highness the Duke of Sussex's intention to attend the funeral
of his Royal Highness the Duke of Gloucester. The cere-
mony is by night, and in the cold Chapel of St. George at
Windsor. Should a frost come on, it may not only prevent
the operation that his Royal Highness is shortly to undergo
for the recovery of his sight, but may have more serious con-
sequences ; and we sincerely hope that his Majesty will request
his brother not to expose himself, the more so as the Duke
of Devonshire, who still acts as Chamberlain, will represent
the Sovereign on the occasion, for which there are several
precedents. The Duke of Sussex, we understand, considers
this to he a duty ; but surely a duty of this sort, at the risk of
eyesight, perhaps of life, may and ought to be dispensed with.
Lady Stepney, we understand, says Frazer's Ma-
gazine, has a new novel on the eve of publication, which we
shall most anxiously expect. Why does not she, who has seen
so much, not only of the very best, but of the most piquant
and riicioreliee society—why does she not venture more boldly
to tell us what she has seen and known ? Then let her con-
tinue to give us gay and graceful novels,—we shall be content."
We are enabled to add, for the information of our readers, that
the new work from the pen of her Ladyship, above alluded to,
is to bo called the " Heir Presumptive," and that it is an-
to appear in about a fortnight.
DESTRUCTIVE FIRE IN THE ClTY.—Last night,
shortly after six o'clock, a most destructive fire broke out in
the hemp and flax-warehouse of Messrs. Thatcher and Co ,
facing the Monument, Fish-street-hill, and notwithstanding
early assistance was procured, and eleven engines were imme-
diately brought to the spot, the extensive premises of Mr.
Balne, printer, speedily ignited, and every exertion to save
the smallest portion of Mr. Baines premises and stock were
useless. The wind for a considerable time blew a southerly
direction, and the utmost consternation Pr's:railed in the neigh-
bourhood for the safety of the pre'::ses of Mr. Christie, hatter,
on one side, and also th,•^:e of Mr. Durand on the other,
which fortunately —are but ;lightly damaged. The conduct of
the City rolice on this, as on several recent occasions, merited
the highest praise that could be conferred on them. We are
happy to say no lives were lost ; arid the loss of property, at
a moderate computation, is estimated at 8,0001., which is in-
sured in the London Assurance, Imperial, British, and Sun
Firesofaoes.

A gecond fire broke out in a basket-maker's, in
Bermondsey-street, while the above fire was raging, which,
after considerable difficulty, was prevented by the firemen ex-
tending farther than tho room in which it began. The unfor-
tunate sufferer is not insured.

JACOB FAITHFUL, BY THE AUTHOR OF
PETER SIMPLE.".--" What an exceedingly amusing book
Captain Marryatt has drawn out of the River Thames and
how admirably be has succeeded in making barges and wher-
ries—things that we look daily upon without interest—full of
life and amusement. His sketches in prose are something
like- Crabbe's sketches in poetry—rough, racy, and natural.
Jacob's gradations of Old Tom, Young Tom, and Tommy are
inimitable. His shootint, Putncy Bridge, his poaching on
Wimbledon Common, and his juvenile flirtations with Mary
are graphic and admirable pictures—scenes that Wilkie might
have vainted,"—Wcui 11/m 01y Magageine.

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