The Sun.
London, England, 1857-06-25 00:00:00

LONDON, THURSDAY EVENING, JUNE 25, 1857.

BANK OF DEPOSIT.
NATIONAL ASSURANCE AND INVESTMENT
ASSOCIATION,
No. 3; PALL MALL EAST, LONDON, S.W.,
(Head Office) ;
No. 2, ST. ANDREW-SQUARE, EDINBURSH;
No. 202. UNION-STREET, ABERDEEN ;
No, 8, CHERRY-STREET, BIRMINGHAM ;
No. 9, PAVILION-BUILDINGS, BRIGHTON ;
No. GI, HIGH-STREET, LEWES;
No. 9, WESTMORELAND STREET, DUBLIN.
Established May, 1844.
Empowered by Special Act of Parliament.

riIHIS Company was Established in 1844, " for
the rurpose of opening to the puhlic an easy and unqw stion-
ably safe mode of Investment, with a high and uniform rate of Inte-
rest.

The plan of the Bank of Deposit differs entirely from that of ordi-
nary Banks in the mode of employing capital•—money deposited
with this Company being principally lent upon well secured Life
interests, Reversions in the Government rinds, or other property
of ample value. This class of securities, although not immediately
convertihle, it is well known yields the greatest' amount of profit,
combined with the most perfeet safety. Farther, Loans made by
the Company are collaterally secured. by a Policy of Assurance on
the life of the Borrower, or his nominee, effectel at a rate of pre-
mium which secures the validity of the Policy against every pos-
sible con,ingency.
Thus depositors are effectually protected against the possibility of
loss, whilst the large and constantly increasing revenue arising
from the premiums on Assurances thus effected yields ample profit
to the Company, and provides for all the expenses of management.

DEPOSIT ACCOUNTS may be opened with sums of any amount, and
increased from time to time, at the convenience of depositors.
A receipt, signed by two Directors, is given for each sum de-
posited.

pRINCE ALBERT ROAD, NEW NATIONAL
GALLERY.—In this delightful and desirable neighbourhood
ARE TO BE LET or 'SOLD several select and elegantly finished
itesidenecs; their architectural display is of the highest order, and
the internal arrangements are everything that can possibly be de-
sired; in size th-y are mite I -tor the occup incy of both the Noble-
man and Gentleman, and the study of comfort has been the Chief
object of the boihier. This now mast Lashi liable part of Lcindon
renders the locality of these buildings undeniable, being contiguous to
Kensington-gardens, with Its beautiful walks, and Hyde-park, with
its rides and di Ives ; added to which the salubrity of the air of Ken-
sington-gore is prover.dal. and considered by the faculty the most
healthful in the vicinity of the metropolis. Apply at the Office, 1,
Prince filbert-Eoad, South Kensington.

with advantage to themselves and the public, the in-
ference is, that the increased and st 11 extending trade,
shipping, and. commerce of the city and harbour aff.nd
room for additional banks ; and there is no reason why
the new race of manufacturers, traders, and merchants
who have established themselves in business since 1815
should be deprived of the privileges which their prede-
cessors enjoyed, or be prevented from combining their
own credit and adding to the money power of the com-

triunity.
Contrasted with the number of banks in England, or
Australia, or Canada, and the amount of circulation in
proportion to capital, and with reference to population,
Scottish banking is unduly restricted ; and it may well
be asked, why should Scotland, which originated the
joint-atck system, and taught' England and our colonies
the science or true principles of banking, be less free in
ht.r banking operations than either Victoria or Canada ?
Why should her sons who stay at home be denied the
privilege of being their own bankers, while those who
emigrate are free and unrestricted. _ _

that when the Act of 1845 was under dimlssion in

the House of Commons, Sir Robert Peel declared that
the monopoly which had been created in 1844, unknown
to the Scottish members, might be relax xl at the expiry
of the Bank of England Charter Act, or when it came
to be renewed, on application being made, or causes
shown for such relaxation.

That your petitioners are satisfied that the policy of
restricting the number of banks in Scotland is extremely
fallacious. It can have no other effect than to increase
the power and profits of 'hose who deal in and live by
money at the expense of the industrious, and productive,
and commercial classes.

That your petitioners are of opinion that the expedi-
ency of affixing a price or monetary denomination to our
gold coins or sovereigns ought to be a principal point of
inquiry by the committee on the 13bk Charter-Apt, and
also that all monopolies of banking and undue and arbi-
trary restrictions should be done away, and that there
should be as much freedom in banking as in baking—in
the supply of money as in the supply of food—and that
cheap or low prices for the one are not more important
than cheap or low rates of usance or interest fa- the other.
Bat what your petitioners wish more immediately to
preas on the attention of your hon. house is that the
prohib:tion against the formation of new banks in Scot-
land, and the law as to the reserves of gol 1, should be
repealed, or at all events revised, amended, or relaxed
to the effect of permitting the formation of new banks in
Scotland, especially in the city of Glasgow and other
localities where the population, trade, and commerce
have increased, and in proportion to such increase, and
the substitution of Government securities to be held by
the banks instead 'of gold coins as a security for the pay.
went or " convertibility" of their notes.
Mey it therefore please your honourable house to take
this petition into consideration, and with or without
remitting the same to the committee on the renewal
of the Bank of England Cuarter Ac', to alter,
amend, modify, or relax Vie Acts 1844 and 1845 to
the effect foresaid.
And, as in duty bound, your petitioners will ever
pray, &e. - - _ _ _

It is to be hoped the people of Scotland will
avenge the insift_iuflicted on them. in 1814, when
unknown to them their monetary independence
was destroyed, and through the commerce of a few
sordid bankers, who were purchased by a monopoly
of their trade in tlae;r favour, the nation was
brought under the hoof of the money power of
England by Peel's LAW of 1844. The men of Glas-
gow have undertaken a patriotic duty, and we trust
they will perform it well.