The Sun.
London, England, 1832-09-13 00:00:00

REGISTRATIONS UNDER THE REFORM

BILL.

Brastrscrrast.-3,193 persons are returned as entitled
to vote for the borough, and 610 for this division of the
county. For the borough, in Aston, 706 ; and between
300 and 400 in Edgbaston. Of the 640 claiming for the
county, 105 are marked as objected to by the overseers.
BOLTON. —Great Bolton, 727 ; Little Bolton, 300 ;
Ittulgh, 13 ; making a total of 1,010.
BATH AND EAST SOMERSET.--.The following, accord-
ing to the lists just published, is the number of electors en-
titled to vote for Bath :—Bathwick, 302 ; St. Peter and
Paul, 254; St. James, 330 ; St. Michael, 253; Wal-
cot, 1,316 ; Widcombe, 311 ; total, 2,769 ; for the
county, 714.
13arnoFwaTER.—Number of voters, 429 ; 260 in the
parish and borough qualified for the county.
BLACK BURN. —631 voters, and 180 freeholders for
North Lancashire.
BRA DFORD. —For the township, 1,134.
CHELTENHAM. —About 986 ; 545 county voters resi-
ding in the parish.
COCK ERMOUTH. —There will be about 300 voters. Of
these, in the town 215 ; Brigham, 25 ; Bridekirk, 13 ;
Papeastle and Goat, 26 ; and the remainder in Eagles-
field, &c.
DERBY. —All Saints' parish, borough 251, county 75 ;
St. Michael's, borough 45, county 22; St. Alkmund's,
borough 258, county 139 ; St. Werhurgh's, borough
221, county 129 ; St. Peters, borough 215 ; county 173.
Total for borough, 990 ; for county, 538.
HA NTS. —An lover, 81 ; South Stoneham, 87; Bi-
shops' Waltham, 40, qualified to vote at county elections.
HUDDERSFIELD.—Published by the overseers, 598.
Only 24 county voters have registered.
MANCHESTER.—Manchester, 4,280; Chorlton-on-
Medlock, 1,132; Hulme, 407; Cheetham, 383; Ard-
wick, 311 ; Newton, 128 ; Harpurhey, 15 ; Bradford,
5 ; Beswick, 3. Total, 6.664.
LA NCA STER. —About 846 freemen, resident within 7
miles, registered ; there remain about 300 not claimed.
About 250 101. householders have also sent in claims.
LEEDS.-4)500, of whom 2,614 in the town, and
1,986 in the out townships. Voters for the West
Riding :—Leeds, 809 ; Keighley, 154.
Nornsaltram.—North Division : Radford,262 ; Brew-
house-yard, Standard hill, and the Park, 41 ; Arnold,
145. South Division : Colwiek, 16 ; Carlton, 92 ;
Gedling,, 20 ; Lambley, 62 ; Stoke Bardolph, 5 ; Snen-
ton, 124 ; Bradmore, JO ; West Bridgford, 11 ; Bunny,
9 ; Clifton, 6 ; Costock, ; Edwalton, 7 ; Keyworth,
27 ; Gotham, 20 ; East Leake, 38 ; West Leaks, 8 ;
Plumtre, 10 ; Itempstone, 25 ; Ruddington, 46 ; Sutton
Bonington, 64; Thrumpton, 7 ; Wilford, 18 ; Wil-
lough by, 42.
Norrisroxam.—St. Mary's, householders, 1,290 ; free-
holders, 400 ; St. Peter's, householders, 135 ; free-
holders, 68 ; St. Nicholas's, householders, 106 ; free-
holders, 92 ; burgesses, 3,122. Total for the town, 5,213.
NORA% tett.—R«sident freemen in Conisford Ward, 512 ;
Mancroft, 110 ; Long Ward, 1,029 ; Northern Ward,
681; County, 73 ; Precincts of the Close, 23. Total 2,731.
NEWPORT. —Householders within the borough, 227 ;
freemen 11 1 ; householders in St. Woollos, 105. Total,
443. Many will be disqualified.
OXFORD. —County electors in Thame parish, 94,
Freemen registered in Oxford, 1,450. Of these it is pro-
bable that 100 will be erased as disqualified.
PRESTON. —Tbe number put upon the list by the over-
seers is 6,080.
SOUTH DIVISION OF HANTS..-.SOUTHAMPTON.---...,

In that borough :—All Saints, county 144, borough
304 ; Holy Rhood, county 30, borough 148 ; St. John,
eounty 7, borough 28; St. Lawrence, county 10, borough
40 ; St. Mary, county 146, borough 164 ; St. Michael's,
county 34, borough 80—total, county, 371, borough, 764.
SHEFFIELD.—For the borough, 2,260 ; Brighteide,
238 ; Ecclesall, 389 ; Nether Hallam, 185 ; and Atter-
clitie, 100—making 3,172. For the West Riding, in the
town, 522 ; Blightside, 77 ; Ecclesall, 110 ; Nether
Hallam, 65 ; and Attercliffe, 37 making 811. We
have no list for Upper Hallam.
SALFORD.—SaIford, 1,081 ; Pendleton, 281 ; Brough-
ton, 133—total, 1,495.
SOUTH SHIELDS.—In South Shields and Westoe, 561 ;
336 for the former, and 225 for the latter. In the same
places 112 freeholders are registered for North Durham,
of which 57 are in Westoe.

TYNEmount.—Ten-pound householders in the borough
825,—viz., North Shields, 227 ; Tynemouth, 445 ; Chir-
ton, 89 ; Cullercoats, 12 ; and Preston, 52. Freeholders
registered for South Northumberland, 662, viz., North
Shields, 170 ; Tynemouth, 477 ; Chirton, 9 ; Culler-
coats, 32 ; and Preston, 6. The armorial bearings of the
new borough, as adopted by the returning officer, and re-
gistered in the Herald's College, are— Gules, three ducal
coronets, or. Crest, a lion rampant, azure. Motto,
" Libertas et natale solutn."

WHITEHAVEN, CUMBERLAND.-WhitehaVell, 315 ;
Presto❑ Quarter, 13 ; Egremont, 74 ; Brigham Town-
ship, 32; Papcastle, 28; Bridekirk, 6, Dovenby, 21;
Talientire, 19 ; Blinderake, Remain, and lsel, 23 ;
Cockermouth (for county), 70; Underskiddaw, 26 ;
Borrowdale, 17 ; Lorton, 32 ; Bassenthwaite, 49 ; Hay-
ton and Mealow, 20 ; Aspatria and Brayton, 46; Bothel
and Threapland, 29 ; Torpenhow and Whittrigg, 25 ;
Winscales, 12 ; Harrington, 81.
WINCHESTER.-St. Thomas and St. Clement, city 100,
county 30 ; St. Peter's, Cheesehill, city 44, county 9 ;
St. Peter, Colebrook, city 22, county 13 ; St. John, city
25, county 8 ; St. Bartholomew, Hyde, city 26, county
11 ; Compton, county 9; Week, city 6, county S ; St.
Maurice, city 100, county 25 ; St. Michael, city 37,
county 9 ; St. Mary Calemour, city 70, county 21; St.
Laurence, city 24, county 12 ; St. Swithin, city 25,
county 3; freemen residing within the limits, 66.
WOLVERHAMPTON AND SOUTH STAFFORDSHIRE.-For
the county : Wolverhampton, 211 ; Bilston, 55 ; Willen-
hall, 46 ; Wednesfield, 20 ; Sedgley, 82.—Total 414.
For the borough : Wolverhampton, 825 ; Billiton, 252 ;
Willenball, 156 ; Wednesfield, 33 ; Sedgley, 584.—Total
1,650.

WAYEEIELD.-689 voters, and 165 for the West
Riding.

WEST RIDING or YORE.—Golcar, 99, freeholders; Lock-
wood, 64, freeholders and leaseholders; Kirkheaton, 24,
principally freeholders; Netherthong, 29, principally free-
holders; Hepworth, 18, principally copyholders; Holme,l4,
copyholders; Meltham, 76, freeholders; Scammonden, 14,
principally copyholders ; Shelley, 47, principally freehol-
ders; Shepley, 21, freeholders; Marsden in Aldmondbury,
65, principally copyholders ; Marsden in Huddersfield, 24,
copyholders; Cartworth, 43, principally copyholders;
Aldmondbury, 39, principally freeholders; Lepton, 21,
freeholders ; Henley, 61, principally freeholders ; Cum-
berworth Half, 30, freeholders ; Foolstolie, 23, principally
copyholders ; Wooldale, 51, principally copyholders ;
Upperthong, 27, principally copyholders ; Kirkburton,
83, freeholders; Longwood, 49, freeholders; Hudders-
field, 24, freeholders; Lindley-curn•Quarmhy, 59, free-
holders. Eight other townships in the division, the num-
ber in them about 300, which with Saddleworth, about
700, will make the total 2,000. Full one-third have neg-
lected registering.
YABMOUTH..--.10/. householders, 492; for the Eastern
Division of Norfolk, 811.
The amount of the future constituency at Yarmouth is
as follows :--Freetnen, 1,063 ; 101. houses, over and
above those inhabited by freemen, 492 ; 10/. houses in
Gorleston, In--total 1,699.
LODGERS' VOTES. —ln Gray's-inn, the joint occupiers
of chambers registered seem to be numerous; and in the
small city parish of St. Benett Sherehog (clarum et vene-
rabile nomen I) four occupiers of one tenement have all
claimed the right of voting.
EAST LOTHIAN. —A correspondent has favoured us with
a state of the number of electors who have lodged claims
in this district, also with the numbers which it is under-
stood are pledged to the respective candidates. Claims
lodged, 622. Pledged to Mr. Stewart, 419 ; to Mr.
Maitland, 129 ; doubtful, 74. The result is obvious, the
Anti-Reform Lord may retire when he pleases.
MID LOTHIAN.—CIaims for enrolment, 1,332.
ROZBURGHSIIIRE. —Melrose district, 396 ; Hawick,
413 ; Jedburgh, 279 ; Kelso, 431 ; total, 1,519, inclusive
of the old freeholdeis.

KELSO DISTRICT.-Hawick, 159 ; Wilton, 70; Ash-
kirk, 22 ; Cavers, 52 ; Kirton, 17 ; Roberton, 16; Can.
tleton, 55.

BEawICK-ON-TwEED.-For the county, 168 ; 10/,
householders for the burgh, 196 ; burgesses, 510.
BERWICICSIIIRE.-The voters, including the old free-
holders, will amount to about 1,100.
Dumfries burghs will possess a constituency as near as
may be 1,100. In Dumfries, including Alsztvelltmm,

720 ; Annan, 179 ; Lochmaben, 48 ; Singuliar, 56 ;
Kirkcudbright, 122—total, 1,122.
LANARKSHIRE.—Under ward, 460 ; mid Ue ward,
1,357 ; upper ward, 841.—Total, 2,658.
COUNTS' or• STIRLING.--Number of voters enrolled
1,827 ; of which, for Admiral Fleming, 1,255 ; against,
371 ; doubtful, 201.

The constituency of Perth county amounts to 3,200.
Earl Ormelie is in possession of pledges of support from
1,656.

The disproportion between the registered voters and Ole
population in some districts, as compared with others, is
very great. In the most favourable circumstances the
electors are as one to 20,—viz., in the burghs of Leith,
Lanark, Falkirk, and Stirling. The lowest proportionate
❑umber of electors is in Paisley. where they amount to
only lin 45. In Greenock, Aberdeen, and Dundee, the
electors are as Ito 26. In Perth there is 1 to 21 ;in
Edinburg!), 1 to 24 ; in Glasgow, 1 to 29 ; and in Airdrie,
Ito 30. In the Port-Glasgow district of burghs the pro-
portion is as 1 to 28.—Scotch Paper.

COMMITTEE ON THE BANK OF ENG
LAND CHARTER.

Evidence Of JEREMIAH HARMAN, Esq.
(Continued from The Sun of yesterday.)

In the answer made by the Court of Directors to Lord
Liverpool and the Chancellor of the Exchequer, on the
20th of January, 1826, there is this passage—" That the
country circulation is in many parts extremely defective,
cannot be controverted ;" what were the defects in the
country banking to which the Bank meant to refer in th it
passage 1)-1 apprehend the defects were merely that all
the country hankers were not equally respectable; no oat
holds in higher estimation that respectable class of the
community than I do, but it was in vain to disguise that
at that period there were exceptions. I had forgot en that
there was such a passage in the letter ; but I say again for
myself, that I have ever held country bankers in the
highest possible estimation in the main, both in the ma-
nagement of their own affairs and the facilities and advan-
tages they rendered to the community.
You are aware that the communications that took place
between the First Lord of the Treasury, and the Chancellor
of the Exchequer, and the Governor and Deputy Governor
of the Bank of England; were published at that time ; and
there was a long letter from the Chancellor of the Exche-
quer to the Governor and Deputy Governor of the Bank,
which enters into what was then thought the defects of
country banking, and in which it was stated that there
were between 800 and 900 country banks, and that it was
no exaggeration to suppose that a great proportion had not
been conducted with a due attention to the precautions
which are necessary for the safety of all banking establish-
ments, even where their property is most ample; that
letter suggests the policy of restricting the circulation of
notes by country bankers to notes above the sum of Si
The answer of the Bank is to this effect :—" That the
country circulation is in many parts extremely defective
cannot be controverted, and the Bank would very re-
luctantly oppose itself to any measure tending to ameliorate
it, but would be glad to promote that object, either by
fresh exertions on their part, should such be found prac-
ticable, or by any reasonable sacrifice ;" it appears, there-
fore, that in the course of the correspondence that took
place there was an admission that the country circula-
tion was then extremely defective ; and this was the
objection stated on the part of the Bank to the in-
troduction of the law which prevented the circulation
of notes below 5/. ; do not you think that the Bank
of England at that time concurred with the First Lord
of the Treasury and the Chancellor of the Exchequer
in thinking that considerable public inconvenience bad
arisen, and that the general excitement to over-speculation
had been caused by the issue of 1/. notes by the country
bankers 7—Speaking individually, I certainly did not agree
with that letter ; but whether I have a right to say so
may admit of a question. I have already explained that
in those instances where the country bankers issued more
than they were warranted in doing, or where they were
established upon a slender foundation, of course it was to
those cases that the answer of the Directors of the Bank.
I presume, alluded; but that does not apply to the great
mass of country bankers.
You said the great object of the Bank in the latter end of
1825, was to supply gold for the country circulation, that is

to say, there was a great demand from the country banks
upon the Bank of England to supply gold for those who
presented their notes ; do not you think that an indiscreet
issue of 1/. and 21. notes has a material tendency to banish
gold from the country, by the substitution of a cheap me-
dium of circulation for one that is expensive ?—There is
no doubt that if there is a large issue of 1/. notes, and the
people are satisfied with those notes, less gold will be ne-
cessary.

Practieally, does not the issue of 1/. and 21. notes banish
;he gold; is not that the case in Scotland ?—lt lue done

• in Scotland, and in America too.
Then, when a time of panic comes, supposing there is
no gold distributed through the country, supposing that
the small paper circulation has practically banished gold
from the circulation, is not the pressure upon the Bank
of England greatly increased in consequence of th tt ba-
nishment of gold ?—lt may be if there is only a certain
portion of gold to be had to distribute through the whole ;
the Bank of England being the centre, of course they all
look to the Bank of England in the hour of panic, but
I do not see how that can be remedied ; the country bank-
ers have no means but through London of obtaining gold ;
they cannot go about the country and pick up gold, they
must go to the great mart ; and as all operations in the
precious metals centre in London, they must come to Lon-
don, and they must have their agents, or they must apply
to the Bank to operate fir them.
You are aware that the 1/ and 2/. notes are generally
in the hands of the lower classes of society, which are
those classes to whom money is of the greatest value, and
who are most likely to be worked upon by undue appre-
hensions; now, supposing the issue of 11. and 21. notes
has banished the gold, but that they are still payable
in gold on demand, when the time of panic arrives is not
the pressure upon the country hanks likely to be much
greater and more universal than if there were no 1/. and
21. notes, but the business of the country was conducted
by gold ?—No doubt ; it is one of the evils of a paper cir-
culation.

Is not the pressure upon the Bank of England propor-
tionably increased in a time of panic, in consequence of
the necessary demand of country bankers to supply that
gold which has been banished by the 1/. and 21. note cir-
culation ?—Certainly ; if a panic takes place, it must be
so in the nature of things; but that is the situation in
which we are placed by the extraordinary efforts that this
artificial country, if I may so say, has made. With tht
enormous debt we have, and the immense amount that
must he raised for the payment of the interest of that debt,
it is almost impossible, I conceive, that in a time of panic
we should be able to face that state of things without
paper.

- Do you think there would be any security against re-
peated panics if the whole paper circulation of this coun-
try rested upon no other foundation of metallic currency
than that which might be retained in the coffers of the
Bank of England; supposing small notes were issued,
and they were payable in gold, but that practically by that
issue the gold was banished from circulation, and was
almost entirely confined to the coffers either of the Bank
of England or of the country bankers, do you think that
that great superetruction would rest upon any sure foun-
dation?—lt is ♦ain to disguise it, that it would he sub-
ject to very great peril at particular times ; but the ques.
tion is, how to counteract that ; I am quite aware of the
difficulties, I am quite aware of the evils, and I have al-
ways contended that it is a choice of evils, and that I do
not see, in certain times, how it is possible to do without
paper circulation.

bo not you think the check upon over-issue is likely to
be much more immediate where there is a great mass of
gold circulated throughout the country, than where the
people are practically not conversant with gold, but all
the gold is in the coffers of the Bank ?—lt is contrary to
my principle for the Bank to hoard a very great quantity
of gold, and to keep it there; it is useless, except in a
time of panic; it is their bounden duty to keep a certain
proportion, which will be wanted to meet difficulties.
But with respect to the question of gold, whether it is in
the Bank of England, or whether it is in private hando,
I do not think makes very much difference, because there
is only a certain quantity to be had. I am one of thos.
that think the quantity to be obtained is very much over
rated ; I think it will be scarcely possible to provic,
against every contingency that may occur, and to say
that you are perfectly safe, because you have such a quan.
tity of gold ; if the gold is in the hands of the country
banker to any great extent, there will be so much less IL

the coffers of the Bank of England. There the questiort
is, whether it is not quite as s.fr,—oy " safe" I do not
mean security to the indivi lual,—but whetherfit is not
quite as safe and as useful kept in the coffers of the Bank
as it would be in those of the country bankers, the quan-
tity being divided about the country.
With a view to security, and the prevention of panic
arising from political causes, is it not better that the gold
should he in the hands of the people conducting the retail
business of the country, than that it should be deposited in
any coffers ?—I think not, if you have a thorough confi-
dence in notes.
Do you think you can insure that confidence in 1/. and
2/. notes ?—ln all but times of panic.
May not there be a panic from political causes as well as
commercial causes ?—No doubt.
Are you aware that 2,000,0001 of gold were drawn out
of the Bank of England in eight days, within the period of
the last three weeks ?—Yes.
Do you think that panic arose from a commercial dis-
credit, or from political excitement ?—I hardly know how
to account for that ; it was one of those temporary things
that do not last long, and there was not sufficient founda-
tion for it; we must be always liable to those accidental
circumstances.
Are not you always more liable to it when the whole
population of a country district has 1/. and 2/ notes in
their possession, than when they have sovereigns, and can
have nothing else for conducting the retail business of the
country ?—lf you can suppose that they we have a .suffi-
ciency of sovereigns for every man to have his fair share; I
would certainly say that I would rather it was circulated
in that way; but we are not to forget that there is another
frightful part of the story, and that is the hoarding; and
that if there is a panic, in all probability the individual
will hoard his money as long as he can.
Is not he as likely to heard it by presenting the 1/. and
21. notes, and demanding gold in exchange, as he is when
he has the gold within his reach ?—There is no doubt it
exposes the Bank to a run.
Does not this disposition to hoard expose the Bank to
an additional run, because the 1/. and 2/. notes are pre-
sented as well as the 51. and 10/. notes ?—lt grows out of
the state of things ; it is a very difficult subject to discuss.
Were you in the Bank when there was a great demand
from the Bank of Ireland for the supply of gold?—Not on
the last occasion.
Did not that demand chiefly arise from Mr. O'Connell's
letter, advising the people to present their small notes in
exchange for gold ?—I understood so.
Do you recollect the sum that was necessarily remitted
in order to supply the Bank of Ireland and the Provincial
Bank, and the other banking establishments of Ireland,with
gold ?—I was not a party to that, because I was not in the
Bank, but I have heard it; I do not recollect the amount.
Do you consider that that panic arose from any commer-
cial cause whatever?—Certainly not.
Was not that a perfectly unnecessary apprehension, as
to the solvency of those banks ?—The run in Ireland arose
from the agitation, and the evil impressions made upon the
minds of the people.
Are you of opinion that the security of the small note
circulation in Ireland mainly rests upon tile amount of
sold there is in England ?.-.-I suppose the bankers in Ire-
land depend a good deal upon the supply there may he in
London ; but I should think that both the National Bank
and other banks in Ireland have provided themselves with
gold much more abundantly than they used to do. I be-
lieve at one period, with respect to both the National
Bank of Ireland and the bankers in Ireland, their amount
in gold was very inconsiderable, compared with what it
has been lately.
Whatever is retained out of circulation, is a dead loss to
the country, is it not ?—No doubt.
Is it not an great a loss to the country if it be retained
in the coffers of the Bank, in order to guard against a
run, as it is if it be retained in the hands of the people
conducting the internal circulation of the country, wear
and tear excepted ?—Yea, it is.
You are aware that a run upon the savings banks took
place in May, 1832, and that those deposits are suscepti-
'de if alarm and panic in a manner very similar to that in
which the 1/. notes were assailed when they were in exist-
ence ; should you, then, be of opinion that to abolish the
savings banks would give a security to our paper system
against panic of that nature, similar to the security that is
given by the abolition of the 11. notes ?—I am not Fre •
pared to answer that in the affirmative, more particularly
when I consider the object for which the savings banks
were established, to induce men rather to place their money
elsewhere than to keep it in their own pockets or to
spend it.

Would it in your opinion give an additional security
against panic if the money in the savings banks were re-
turned to the people, and they held it in their coffers in
Gold ?—I cannot satisfy myself upon that.
Does the fact of the circulation of the country consist-
ing in gold instead of 1/. notes, give any facility to the
country banks to procure gold, more than they would have
if the circulation were in li. notes?—Jn quiet times it
does, because, of course, gold would occasionally be paid
into the banks, but in hours of difficulty and alarm, men,
in all probability, who held the sovereigns, would keep
them rather than pay them into a country bank.
If banker wished to procure a supply of gold, would he
not, whether the circulation of the country was gold or 1/,
notes, apply to London for a supply of gold ?—lf he has the
means, unquestionably.
Would it be possible for him to collect a large supply in
the country, from the gold circulating among the people?
—I should think, impossible.
You were asked, whether you thought our paper system
could be secured from the effects of panic during the ex-
istence of 1/. notes in the hands of the people of England
and Wales ; do-you think that the system, as it now
stands, is secure against the effects of panic ?—No ; and
I will go further, and say that it would be very difficult
to make it so.

You were referred to a letter i❑ 1826, written to the
Bank by Lord Liverpool and Mr. Robinson, which letter
,uggested the policy of abolishing 1/. notes and establishing
branch banks, and of establishing joint stock banks; that
letter stated, that the cause of the commercial crisis of

1825 was mainly occasioned by speculations fostered and
encouraged by the country bankers ; doyou think that that
was a true explanation of the cause of the commercial crisis
in 1825 ?—ln my opinion, very humbly I say, decidedly not.
It appears that Lo:d Liverpool stated, in a speech made
on the 17th February, 1826, that the country bankers had
increased their circulation prior to the panic, at a period
when the Bunk of England was diminishing their circula-
tion ; that statement of Lord Liverpool appears to have
been founded upon the returns of the issue of stamps ; if
that calculation of Lord Liverpool's should be found to be
formed upon erroneous data altogether, do you think then
that the policy of the measures which were suggested to
the Bank in the letter of Lord Liverpool and Mr. Robin-
son, was founded on fallacious statements ?—lf there

was an error certainly so far, pro tanto, it was upon falla-
cious statements; I am not prepared to say how the fact was.
What was your opinion at that time, as a Director of
the Bank, upon the question of establishing joint stock
companies and branch banks, as then proposed ?—As an
individual, I never was very favourable to either the one
or the other.

Do you conceive that the establishment of branch
hanks, by which a very considerable degree of responsi-
bility attaches to distant agents, was safe for the Bank
itself ?—I always thought it laid a great additional respon-
sibility upon the Bank Directors, and I thought we had
quite enough before. As to the utility to the country, or
the benefit that the country may derive from it, that re-

mains to be proved ; I unequivocally acknowledge that I

was not favourable to the establishment of band) banks.

Or of the Joint Stock Companies ?—Nor of the Joint
Stock Companies.
Was your opinion derived from the apprehension you
entertained of the injuries the Bank might sustain, i❑ con-

sequence of a number of distant agents being employed ?
That entered into the consideration, certainly.
Did you consider it safe that a considerable number of
gentlemen should be sent into the large manufacturing
towns to discount hills, who were not acquainted with the
persons and characters of the merchants and manufactur-

ek s there ?—I certainly did think that it would require a
great deal of time and experience, and that risks knight be
run in the trial, in order to prove satisfactorily tbe pru-
dence of the measure.

Had any considerable loss been sustained from the
branch banks previous to your leaving the direction ?—No
considerable loss.
Was the Bank consulted with respect to the measure of
joint stock companies ?—We were not much consulted ;
we were communicated with upon the subject, and opposed
it as far as we could with propriety.
What were the grounds of your opposition, individually ?
—ln the first place, we rather considered it an innovation
upon the functions of the Bank.
Was the apprehension you entertained, as affecting the
interests of the Bank ?._There was a distinction made be-

tween joint stock companies in the country, at a certain
distance, and joint stock companies Within that distance ;
and, after a very considerable discussion, there was a line
drawn within which the joint stock companies should not
approach the Bank, and so it was settled.
With the limitation as afterwards settled, did you con.
~.eive the Bank was likely to sustain any injury from the
more in apprehension than in reality; but I was always
jealous of the measure. ?—li might, perhaps, be
measure of joint stock companies
As affecting the interests of the Bank, or as affecting

re interests of the public ?—As affecting the inte'retts of
the Bank ; and I always had doubts with respect to the
prudence of the measure as affecting the public. Not-
withstanding that passage in the answer of the Directors
of the Bank to the letter of Lord Liverpool and Mr. Ro-
binson, in which we acknowledged that there had been
some mismanagement on the part of 'certain country
bankers, I was always of opinion that the tountry bankers,
in the main, had transacted the business with such ad-
vantage to the public, and such reputation to themselves,
that I preferred, with any new regulations that might be
thought proper, that the business should be toducted by
the country bankers than either by joint stock companies,
or by branches of the Bank of England.
What are the apprehensions that you entertained, and
should entertain, ;n case the limitation of 65 miles from
London was removed, and the joint stock banks were al-
lowed to extend their establishments within thoselimits ?
It is a very great experiment, and I am not prepared at this
moment to state what my apprehensions are ; they may,
perhaps, be more imaginary than real, but I have them.
What would be the effect of it as affecting the interest.
of the Bank ?—I think it would occasion clashing, and
an interference ; if the public are well served by one esta-
blishment, I do not see the great advantage of increasing
the number; to have joint stock companies in addition to
the Bank of England, and to the number of bankers in
London and in the country, I do not see the occasion for
them myself, and I again say, th it it appears to me to be
an experiment. _ _

Is your objection to the ircrease of the number tit part-
ners in the London banks, or to their becoming banks of
issue?—To their becoming banks of issue ; and I think
we are very well as we are ; I think we have plenty of
bankers.

Then your objection in to both ?—Yes.
Did ►he Bank of England object, in 18213, to the esta-
blishment of branch banks ?—No; the tank of En', !and,
on the contrary, approved of the measure ; but I bare
taken the liberty to give my opinion upon it because I wa.
asked it.

Then, although it is your opinion indivi&illy, it was
not the opinion nt the Court of Directots "as a body?—No.
Was it yielded by the Bank at the desire of Govern-
ment, or did you understand that it originated with the
Bank originated with the Bank ; it was suggested in
former times by Lord Liverpool, and was objected to; but
afterwards the Bank reflected upon the subject, and they
were of opinion that, under the circumstances which had
recently happened, there might be advantages in it, and
that it would be advantageous to the Bank itself.
Do you suppose that the motive of the Bank in suggest-
ing it was for the purpose of satisfying the public, or that
they thought it was a good system of banking for the
country ?—Both. It was considered that it would afford
facilities to the Bank in conducting their business; that it
would give them a great insight into the country part of
the business, and that there might be other advantages in
it, and therefore it was adopted.

Was not the state of the case this, that Government in
1826 proposed the abandonment, by the Bank, of their ex-
clusive privilege as to the number of partners, and that
there should be joint stock companies formed in differeo.
parts of the country with the consent of the Bank, and
the answer the Bank made to that was—" We object to
the establishment of joint stock companies, but we an.
willing to establish branch banks ;" and the rejoinder of
the Government was—" We think the establishment of
branch banks a good thing, per se, but not adequate to
meet the exigencies of the present time?"—l remember
that perfectly ; I was present at the interview upon the
occasion.

Do you remember, towards the conclusion of the year
3825, very large importations of produce into this coun-
try ?—I think there were very considerable.
In the article of wool, for example, did not those vast
importations arise from the duty on wool being taken off?
—I cannot state.

Was not silk another article that was introduced i❑ im-
mense quantities at that period ?—Yes.
Was not the duty taken off the importation of silk to a
very great amount?—l remember perfectly that Mr. Hot.-
icisson brought in his new Customs' Bill, I think in tic
month of March ; it was some months before it came into
operation ; but, in consequence of that, I cannot omit to
observe that there were very great speculations, and those
speculations were not confined to wool or to silk, but were
general.

Do not you therefore think that the great fall in the ex-
changes was, in some degree, produced by these vast im-
portations?—l have no doubt but the exchanges were
influenced thereby.
Was there not an improvement in the price of the
greater part of the commodities up to the middle of 1825?

Will not a large increase of importations l,e tV,e conse-
quence, generally, of an improvement of price?—Yes, it i,
a temptation ; but the question is whether it answered ;
the prices fell as much, and a great deal more than they
had risen.

Do }on connect that improvement in price which took
place up to the middle of 1825, in any way with the in•
creased quantity of bank issues ?—No, indeed I do not ; 1
believe it was merely owing to the great encouragement
that was given by the florid pictures we had of the state
of the country ; I do not say that the state of the bank
issues had no effect, but very small indeed.

You are aware the Back consented to the establishment
of joint stock companies under certain restrictions,_
namely, that no joint stock company should he established
nearer than sixty-five miles from London, that no joint
stock company should be able to make its note, payable in
London, and that they should not draw bills at sight tinder
50/. ; do you consider the two last of these restrictions of
Any importance to the privileges and advantages of the.
Bank of England ?—I can only answer that by saying that
it was well considered in the Bank at the time, and it w
thought adviseable tli,t those conditions should be made,
and they were not objected to.
Do you in your own opinion think that it was of any
great importance to the Bank that a joint stock company in
the country should not he allowed to make its notes pay-
able in London?—With the permission of the committee,
I would beg leave to decline answering that gnestion, be-
cause it involves that which was fully deliberi.ted at the time.

Can you state, whether, as a matter of opinion, you
agreed with the Bank Directors at that time upon this
subject ?—Ycs, as one of the body, of course I did.
It appears by Mr. Sedgwick's tables of the issue of
country bank paper, that in 1523 the amount in circula-
tion was 8,700,0001. ; in 1824, 10,601,000/. ; and in
1825, 14,147,000/ ; are you of opinion ihat the issues
Of the Bank of England, in the years 1824 and 1825,
had no effect in contributing to those great issues of the
country banks do not know any thins of those tables;
but I think, if it is assumed that the currency was starved
by the Bank withdrawing a part of their circulation, it is
very natural to suppose that country banks would supply
the vacuum.

How could there be any vacuum of that sort to supply
in 1824. and 1825, when the Bank of England increased
its issues in 1824,, and continued them at a high scale
till November, 1825 ?—I think not till November, 1825 ;
I think it began to reduce in February : then I have al-
ready said that the Bank sold to the amount of, I should
think, four millions and a half of their Government se
cur i ties.

Do you hold to the doctrine, that by diminishing the
issues, ur increasing the issues of the Bank of England,
without any other circumstance, the exchanges will feel
the influence of that increase or diminution?—lt depends
upon the extent to which they are increased or diminished;
if the Bank of England were to diminish their issues to a
very great extent, it would have that sort of effect upon
the commercial world, that I think it might operate upon
the exchanges.
Within what spice of time do you apprehend that
operation would be felt ?—I am not prepared to say ; it
it was to a very large amount, it would be felt, I should

think, soon.
Supposing that the issues of the Bank were to be in-
creased to any great extent, do you believe that the foreign
exchanges would immediately feel the influence ?—Th,t
involves a question which, if I may be excused, I would
rather not enter into

Would not the effect upon the exchanges depend very
much upon the effect which such an increased issue
would have upon the general prices of commodities in thi.
country ?—Yes ; and upon the effect it would have upon
the ways and means of merchants, and of those who

operate.
In the management of the affairs of the Bank of Eng-
land, throughout the long period of more than 30 years,
for which you were a director, was not the principle of
management, attention to the interests of the proprietors ?
—One main principle.
In cases which must sometimes occuroA here the interests
of the proprietors and, the interests of the public are at
variance, the Directors being responsible to the propri-
etors, what has been the prominent consideration in ti,e
management ?—ln very many cases we have sacrificed
the interest of our proprietors i❑ order to serve the pub-
lic, which the Bank has always felt as an incumbent duty ;
it is ❑ot impossible that the attention of the Directors may
have been more alive to the latter since the Parliamentary
inquiries.
Do not you consider it is for the interest of the propri-
etors of Bank stock, that the fair interests of the country
should be considered, in the direction of their affairs?—.
Inevitably they must be.

Do not you consider that, not only in looking at it with

a liberal vie v, but considering even te pecuniary in-
terests of the proprietors of Bank stock, it would not be
for their interest to disregard the general public interest ?
do not apprehend the Bank could do it if it would.
Is it not the fact, that to the proprietors the Directors
are responsible, but to the public and the Government
they are not responsible ?—lndeed they are ; the Bank
Directors will henceforth never make a blot that will but
be hit.

If the Bank Restriction Act were renewed, might it
not be very advantageous to the tank itself, and yet very
prejudicial to the public interests ?—Certainly, if it CID
be supposed that the B ink are untniniful of their duties
to the public, it might ; and if the Legislature were not
Watchful, it might be turned to the advantage of the pro-
prietois of the Bank; but I think it is hardly a supposa-
ble case ; if the Bank Directors, instead of being right-
minded men, were disposed to lean to their proprietors at
the expcn,e of the public-, to any great extent, I do not be-
*eve it is possible to do it, _

As a general p 1 position, do not you consider that what-
ever would be most advantageous to the public interests,
would at the same time conduce to the general interests of
the Bank of England ?—On the great scale, unquestionably.
Did not the Bank of England suggest the renewal of
the restriction in 1825 ?-4 have already stated that when
we came to the alarming situation in which we were
placed, we made several applications to the Ministers.
to making those applications, do you suppose that the
Bank applied for the restriction with a view to derive
profit from that restriction, or Was it from their notion of
what was for the general benefit of the circulation of the
kingdom ?-.their object was to lay before his Maj,sty's
Ministers the state in which the Bank was placed ;
whether any blame attached to them is quite a separate
consideration, but it was to lay the state of affairs before
the Ministers, and to suggest what we considered would
avert a most tremendous evil ; because, as to affixing a
paper to the Batik of England, while the Bank of Eng-
land was swarming with all sorts of people, coming with
the greatest importunity for tkeir money, for the Directors
to stand forward and to say, " We have no more left, but
we expect it," it was impossible.
Do you net f el confident that it never crossed the minds
of the Directors of the Bank of England to reap profit for
their proprietors from a renewed restriction of cash pay-
ments?—li is utterly impossible.
Did not the Bank profit considerably by the increased
issue of notes between 1822 and 1825, to the amount of
4,000,000/. presume they did, but it was not with a
view to undue profit that that was done ; the Bank then
possessed large balances, and it would b- unreasonable to
expect that they should have remained useless.
Did it not afterwards appear that the Bank greatly suf-
fered in consequence of the increased issue am not
aware hew they did.
Was not the panic that subsequently ensued, in a
great measure the result of that increased issue ?—I
think not.

In the proceedings of the Court of Directors during the
panic, were not they regulated more by a consideration
of the manner in which they could stop the general
alarm and the threatened ruin, than by considering how
they could make a profit to the Bank proprietors ?
Certainly.
Did not the Bank share amongst the proprietors, is ad-
dition to the established dividend of 7 per cent. between
February, 1787, and March, 1830, nearly 17,000,0001. ?
—I cannot charge my memory with what it was, but I
only know this, that as we made profits, and as there
was a large rest, if the importunity of our proprietors
had been witnessed from court day to court day, it could
not be wondered at that we should make extra dividends
as other corporations were in the habit of doing, but that
was not done without communicating with his Majesty's
Ministers.

When the Bank have found themselves with a large
treasure did they not purposely issue notes for the purpose
of producing a fall in the exchanges, in order to get rid of
the treasure ?—No ; that was never a motive with me
when I had to do with the Bank.

Would not issuing notes under these circumstances, of
having what may be considered an overstock of treasure,
be the direct means of relieving the Bank from its treasure,
and of proportionably enabling it to make profit ?—I can
only repeat that I was never actuated by that motive.
Are you aware that in the year 1790 a transaction of
that kind took place, when the Bank of Eng'and had

10,000,0001. of treasure, and 10,000,000/. of circulating
notes?—No; I was not in the Bank in the year 1790.

Keeping in your mind the difficulties that occurred in
1826, and that the panic then mainly arose, as you have
stated, from the necessity the country bankers were under
of having specie to meet their engagements in the country,
do not you think that if by law the Bank of England notes
were made a legal tender in the country so long as they
should continue to be paid in bullion in London, that
wou!d very much tend to relieve the country from panics
of that kind ?—I had rather not answer that question.

We learn that the intended editor of the
projected lawyers' paper in this county is dead of the
chelera.—Boston Gazelle.

FRENCH CIVIL LlST.—Those parts of the
ancient property of the Kings of France which were
struck from the Civil List upon the last discussion li,ve at
length been brought to the hammer. One of the inspectors
of the moveable property of the Crown left Paris on
Saturday last for StritslAug, to take possession of the furni-
ture of the chateau of that city, which no longer belongs
to the Civil List; and the materials of the Hotel de Longue-
vine, belonging to the Crown, and situated on the Place
du Carrousel, were sold yesterday for 60,000 francs. The
purchasers are bound to have the place cleared before the
Ist of May, 1833.
ABDUCTION.—A little stir was created in
Tipperary on Saturday afternoon last, by a report having
been circulated that an abduction had taken place, the
circumstances of which are as follow :—On Saturday af-
ternoon last, while a young woman named MART CRC-
MIN, supposed to be worth 3001. or 4001. of the ready
cash, and siver to the Rev. Mr. CREMIN, of Athy, was
returning home from Tipperary, she was met a short slis
tance outside the town by a shoemaker, named 'MICHAEL
CROKER, who made many protestations, and swore he
was over head and eats in love with her, and that lie had
no business in this world unless she consented to make
him happy, which only could he accomplished by her con-
senting to be spliced (married); a party of men, with a
postchaise, were in waiting, and contrary to the young
woman's consent, they forced her into it, along with her
stout-hearted Lothario. They then drove at a rapid rate
until they arrived at Bansha, four miles from Tipperary,
when, melancholy to relate, the cobbler's wax-end had
unfortunately ran out, for the police (while he was devising
tome other mode of conveyance) and some of the young
woman's friends, on good steeds, overtook and arrested the
shoemaker, who reluctantly was obliged to surrender
himself to the police, and he has since been committed to
durance vile until informations could he taken against him,
and the young fair one was restored to her friends.—
Limerick Chronicle.

PARIS, SEPT. 9.—Some ridiculous disclo-
sures have been n.ade in one of our courts of law at the
expense of his Serene Highness Duke CHARLES of Bruns-
wick. It seems that since his Highness's abdication, the
Duke of WELLINGTON took the trouble to secure for him
the services of a certain M. Kurrnwonrir, who had for-
merly been one of his Highness's privy councillors, and
who had found it convenient to withdraw himself to Eng-
land at the period of the Brunswick revolution of 1830.
As a specimen of the good faith of this protege of the
Duke of WELLINGTON, I may mention that he has placed
the private autograph letters of the Kings of England and
Prussia in the hands of his counsel, to be exhibited, for no
justifiable purpose, in the course of this trial. These let-
ters were addressed to this foolish Duke, who, foolish though
Le be, was still M. KLlNDworyrn's master. This worthy
individual now tells the world, through the medium of
this process, that the Duke's whole desire is now confined
to two objects, the one being the recovery of private
property in his duchy, amounting, it is said, in value to
60,000,000 francs ; the other to the promotion of an ar-
rangement by which his personal descendants may be de-
clared the successors of the present Duke in the sovereignty
of the duchy, to the exclusion of his brother's desocendants.
These details, however, are foreign to the immediate ob-
ject of the Duke's application to the Court of First In-
stance, which was rendered necessary by the measures
which M. KLINDWORTH had adopted for the purpose, as
he said, iif securing the ultimate payment of a sum of
60,000 francs, which be claims as due to him by Duke
CHARLES. The French civil code, although it does not
authorise the arrest of a defendant on mesne process, af-
fords an individnal who claims the rights of a creditor the
means of harassing his party by other proceedings, scarcely
less vexatious, pendente lite. M. KLINDWORTII has, it
seems, obtained an attachment against the whole of the
Duke's funds in the hands of his banker, and has also pro-
visionally se;zed his horses, carriages, and effects at the
furnished hotel in which his Highness resides. It was to
remove these attachments that the present application was
presented. A judicial referee had previously allowed hint
the use of his carriage, with a single pair of horses, on
condition that they should be returned to the hotel at a
fixed hour every evening. 'lle Court, however, has now
consented to remove the attachments altogether, on the
deposit of a sum of 15,000 francs in the Caisse de Con-
signation.