The Sun.
London, England, 1833-06-01 00:00:00

lie agreed with the Hon. Mover in some of his observa-
tions, but he differed with him in the conclusions to be
drawn from the propositions that had been submitted to
them. He thought it was a subject of great alarm to
throw all the responsibility of providing gold for p tper
upon the Bank of England --(Hear.) He looked at
it with great alarm, because be saw that no part
of the country was to be compelled to hold a single guinea
to psy any engagement but the B ,nk of England, and they
were to be compelled to pay not only in London, hut at
all their Branch B inks throughout the coup ry. They all
knew well what was the consequence of an alarm--in those
cases the people thought their bes• means of defence was to
run for gold ; hut now all that the country banker
would have to do, would be to give Bank of England
note• when money was dein ,niled of him, and the Bank
of England would have to find gold for those notes. He
did not value their monopoly, which had been charged
as being so obnoxious, for he had no fear bf the monopoly
was done away with. He wanted no such protection. feeling
confident that the means and the credit of the Bank
would always command success without any monopoly.
He tl.ought it impossible to do justice to such an im-
portant question, and he suggested the txpetlit ncy of
adjourning the discussion. As to the return of their
capital, he n• jested to its being paid back in sit.all pro-
portion. If the Government wished to take their
capital, let them take it and pay for is ; nut while they
were diminishing it they were diminishing the only se-
curity they had to give the country. Tne propositions would
open the door of mischief to the middling classes of the
community, which was calculated to produce a great loss
to the Colt pany. He hoped, therefore, that they would
have amp e time to consider propositions which went to
affect the whole monetary system of the country.

An HoN. PROPRIETOR coincided in the views taken
by the last speaker, and in reference to the panic of 1825,
which was greatly aided by a simultaneous demand by
the country hankers on the Bank of England for gold, said
that the present propositions, if adopted, would, in his
opinion, iead to a similar result.
Mr. HAMMOND wished so know whether the plan bad
been adopted with or without any correspondence with
the Chanc.llor of the Ezehequ,r ?
. . .

The GOVERNOR. slid that he and the Directors had
had many interviews with the Chancellor of the Exehe•
quer, but no correspondence, and the plan had been
founded on those interviews.

Mr. WINTER could not agree with the motion that
had been prop .sed by the Hun. Proprietor (Mr. Lloyd).
The plan proposed by Government, in his opinion, was
greatly objectionable ; it would effect great alterations
in the monetary system of the country, would throw the
great weight of procuring bullion on the Bank, and would
have a tendency to increase panics in the Court. He saw
no benefi. from any of the propositions of the Chance.lor of
the ExcheTier to the Batik, and if no benefit was to he
derived, it would, in his opinion, be better for them that
their charter should be put an end to. But could it be put
an end to ? He claimed, as a Bank Proprietor, the lights
the law conferred upon him. What was the law up ,n the
subject? Why, the law said that the Bank should continue
to be a Corporation until all the debts due from Government
to the Bank should be discharged. He claimed that right,
and in doing so he felt satisfied that he should promote the
iritereats of the proprietors better than by acceding to such
a proposition as that which had been proposed by the Go-
vernment. The Bank wanted no favour from the Govern-
ment or the public ; they hail der ved far more benefit
from the Bank than it had derived from them.—(Hear,
hear.) The charter must either be continued, or the
debt due from the Government must be paid to ihe Bank
--(Hear, hear)—and if it was paid. the Bank would
possess a capital that would defy all competition.—(Hear.)
The measure proposed by his Majesty's Ministers wag, in
his opinion, prepo.terous. The Bank notes were to be
made a legal tender to a certain ext.nt, and in the same
breath the Government took one quarter of its capital from
the Bank, on whit h the iasu- of notes win founded. The
proposition with respect to certain bills not being subject
to the usury laws, gave, in his opinion, great benefit to the
country hanker, by allowing him to discount notes at a
larger discount ; but the old lady in Threadneedle-street,
as the Bank was called, who was to provide every thing,
would derive no advent rge whatever. He trusted the
Court of Proprietors would not sanction such a plan with-
out great consideration, and would therefore urge the ex-
pediency of an adjournment to a future day.
Mr. WEEnote thought it would be m.instrouP on the
part of the Court of Proprietors to come to an immediate
conclusion on this, to them and the country, great and
important measure. What was the proposition of Mi-
nisters? Why, that the Bank should have all the risk of
a run for gold, and no benefit in return. Tney were to
be deprived of 120,0001. annually for managing the Go-
vernment business. At present they received for that duty
178,00(11., 120,0001. of which was to be taken away.
What, he would ask, would become of their dividend
of 8 per cent. if such an event took place? The
proposition of Ministers was one that ought not to be
adopted without great deliberation ; and he should there-
fore move, as an amendment upon the tno,ion of the
Honourable Proprietor, that the papers should be printed
for the rise of the Proprietors, and that the meetingshould
adjourn to 'gouda), or wane ether day that would be mo.e
convenient.—(Loud cues of " Wednesday.") He would
name any day that would be most convenient to the Di-
rectors and Proprietors.
The GOVERNOR thought if it was the opinion of the
Curt that an adjournment should take place, it had
better be to Wednesday, as he was afraid he could not
get the papers printed, and in the hands of Proprietors,
at an earlier nay.
Mr. SELWYN was in favour of the adjournment.
A PROERIETOR wished to know whether notes of less
value than 51. were to be issued within 65 miles of
London.
Th., GOVERNOR said, decidedly they were not.

• .
Another PROPRIETOR. wished to know whether 13. inking
Companies estahli•hed in London, and not issuing notes
at the resent moment, would have the power of doing no.
The GovEßNott said they certainly would not.
The GovERNOK then put the original m dion, and
amendment to the meeting, declaring the latter to be
carried.

The meeting was then adjourned to Wednesday next, at
2 o'clock.

SUMMER ASSIZES.

The following are the circuit appointments for the
Summer assizes :
Northern Circuit—The Chief Justice and Baron Bolland.
Western—M, Justice Aluenson and Mr. Justice Pattcson.
Midland—Mr. Justive Park and Mr. Justice Taunton.
Oxford—Chief Justice Tindal and Mr. Baron Gurney.
Home—Mr. Baron Bayley and Mr. Justice James P rke.
Norfolk—Lord Lyndhur,t and Mr. Justic-
Weicii—Mr. Justice Gaselee and Mr. Justice Bosanquet.
Mr. Baron V iughan remains in town.