The Sun.
London, England, 1866-05-12 00:00:00

THE CRISIS IN THE CITY.

Mr. DISRAELI begged to ask the Chancellor of the
Exchequer whether the report which was in general cir-
culation that the Government had given power to the
directors of the Bank of England to suspend the Bank
Charter Act in reference to the issue of notes was correct.
Mr. MONK, in addition, asked whether, in the event of
a deputation from the Bank waiting upon him, he would
be disposed to entertain such a proposal.
The CHANCELLOR of the EXCHEQUER said there
was no truth iu the report that the Government had
sanctioned any suspension of the Bank Charter Act of
1844. Until the last two hours no representation had
been made to him with respect to the matter in the City ;
but for the last two hours he had seen many bankers,
and in an hour or two he was about to met
a deputation from the joint stock banks. The
representation he had received was that there was an
amount of monetary distress in the City unprecedented in
the recollection of any one. No decision had been come
to by the Government as to the steps to be adopted, but
with respect to the representations that might be made to
Government he could only say that the most careful,
anxious, and immediate attention would be given. As
soon as his duties would allow him to leave his seat in the
house he should be in communication with those who
would be fully acquainted with the state of affairs in the
would be
he hoped that the result of their considerations
b not only to bring things to a wise but a prompt
issue.

Mr. BAZLEY asked whether the right hon. gentleman
would state whether he was prepared to consider the advi-
sibility of suspending the Bank Charter.
The CHANCELLOR of the EXCHEQUER, in reply,
said that under present circumstances he thought it would
be better for him not to answer that question.
POSTAL ARRANGEMENTS IN FIFE.

Sir R. ANS TRUT HER called attention to the continual
complaints of the way in which the Fifeshire yostal service
was conducted.
Mr. CHILDERS in explanation said sufficient accom-
modation was afforded to the district in question.
THE BALLOT
Mr. BERKELEY said he intended to bring forward the
subject of the ballot after Whitsuntide, but with no in-
tention of interfering with the Government measure of
Reform.

THE IRISH JUDGES.
Mr. BRYAN asked the Chief Secretary for Ireland
whether. his attention had been called to the constitution
of the Irish
eltrilae sb atich, law and equity, and whether (consi-
dering
advanced age of some of her Majesty's judges),
in the opinion
is satisfactory
the Irish Government, its present condi-
tiontion of 317 and conducive to the due administra-
tion justice
in Ireland.
Mr 0. FoitT,,
which a judge ZIT said there was a time of life at
poanwdehis own di
to his country not. continue in office with advan-
tageafailure of mental dignity In cases where
quatelyperforming his drutin* ca
pacitated a judge from ade-
for an address to be moved
the proper course to adopt was
but such proceeding should
mblexth houses for his removal,
were in the possession of the Government. When facts sufficient
ment would not shrink from p°uvernent. The Govern-
such an eventuality should arise, He
that course when
to express any general opinion
thenponetherefore declined
forward by the•bon. member. subject brought
The discussion was slightly enlivened by a
en-
counter of words between Mr. Maguire altdsAr Robert- „„„--art
Peel, which threatened at one time to end in
something
serious, but resulted ultimately in the right hon!mb net
ething
explaining the phrase complained of, viz., " that Mr. m-
guire had made certain statements which he knew to be,
incorrect," to mean that " the statements endorsed by the
hon. member were generally believed to be unfounded."
In a house of about twenty members, reduced during his
speech to half that number, Sir W. S. MAXWELL asked a
minor question relating to the manner of paying the com-
pensation awarded for the slaughter of cattle. Colonel
S YKES reduced the numbers to a lower ebb by an address
on the official notification and address of Colonel Mea-
dows at Newchang to the foreign community, dated the
4th October, 1865, respecting the danger to life and po-
r
perty from the proximity of rebels ; also to the official
_notification and address of Consul Medhurst of Hankow to
the foreign community, dated 21st January, 1866, to devise
measures against an expected attack from a body of re-
volted Imperial troops, and the advance 01 the liienfee

rebels. He moved that copies of these official notifications
and addresses be laid before the house.
No one replied on behalf of the Government, there being
no Cabinet member present, and the motion was negatived
without a division.
The present system of musketry instruction in the arm y
was the subject of a question by Sir Charles Russell, but
the conversation was of too strictly a technical character
to merit notice here.
The house then went into committee of supply, and
vote
the
Civil Service Estimates were proceeded with. The
" defray the expense for noncon-
ofofrm£f4nl,gl,ssseolesd.fBndo.7,
atnod Protestant dissenting ministers in
Ireland," as usual, met with opposition.
Mr. HADFIELD moved to reduce the snm to £366, that
beinc, the amount paid since 1804 to the fund for support-
ing tho widows and orphans of ministers of the Synod of
Ulster, and which he thought was the only item that
should be paid.
Mr. POLLARD-URQUHART was of opinion that the
present was a most inopportune moment to agitate this
minor question, unless the monster grievance of the Irish
Church Establishment was also touched.
Mr. S. B. MILLER vindicated the Ministers to whom
this paltry pittance was paid from any charge which could
possibly be urged against them. He commended them as
acting with honour and grace, and at the same time
rendering faithful service to their flocks. In fact, a more
exemplary body of men never existed.
Mr. WHITESIDE supported the vote, and in high
terms complimented its recipients as among the most in-
dustrious, loyal,and respectable people who could be found
in their respective districts.
The House divided, and the amendment was nega-
tived by 130 to 24 votes.
The votes in class 7 for "miscellaneous, special, and
temporary objects" were then gone into and agreed to with
but slight discussion. Progress was then reported, and
the house resumed.

Mr. BA ZLEY inquired whether the Government had
consented to recommend any pecuniary facilities to be ex-
tended to the Bank of England during the present panic,
and what was the nature of the indulgence, if any, which
had been provided to meet the wants of the mercantile
public? _ _

-
The CHANCELLOR of the EXCHEQUER said that
in the course of the evening he bad made Himself fully
acquainted with the operations of the Bank, and he found
that, actuated by a just desire to sustain the commerce of
the country from disaster, the Bank had extended its loans
and discounts that day to an amount somewhat exceeding
four millions ; and that the effect of that somewhat large
accommodation had been to reduce the reserve to a sum
not far short of three millions. This state of things, com-
bined with the uneasiness in the public mind, was such as,
in the opinion of the Government, called for their inter-
vention. They had carefully considered the facts, and de-
termined to address a letter to the Governor and Deputy-
Governor to the Bank substantially corresponding with
the documents addressed to them in 1847 and 1857 ; that
was to say, that if the Bank, on its prudent rule of ad-
ministration, should, in order to meet the wants of legiti-
mate commerce, find occasion to make such advances and
discounts as would require an issue of notes above that
allowed by law, they might make such issue, and the Go-
vernment undertook, on the arrival of that contingency,
to make immediate application to Parliament for its sanc-
tion to the measure. The letter would be in the hands of
the Bank authorities this morning, and he hoped the effect
of the step would be to allay the sentiment of uneasiness
that prevailed, more especially as he believed that that
feeling was not to be traced to any general unsoundness
in the trade of the country, but grew out of causes that
were of a specific and definite character.
The announcement was received with loud cheers.
The orders of the day were rapidly disposed of, and the
house adjourned.