The Sun.
London, England, 1850-04-30 00:00:00

EVICTIONS IN GALWAY.

Mr. MACCULLAGH wishedlti ash:the Right Hon.
Baronet the St cretary for Ireland whether he had re-
ceived any information relative to certain transactions
which had occurred in Galway. He alluded to a matter
which had formed the subject of comments in the public
newspapers, and which he was sorry to s,iy, was confirmed
by private letters. It was said that there had been latterly
a wholesale system of evictions carried forwart? in the
Martin estate by the Law Lite Assurance Company,
who were tt.e mortgagees, and he wished to ask the
Right Hon Baronet wh. ther he had received any infor-
mation on the subj•-ct, either in his capacity of Secretary
for Ireland or es poorlaw commissioner.
Sir W. SOMERVILLE had received no information
whatever on the subject.
SAVINGS' BANKS.

The CHANCELLOR of tie EXCHEQUER then
rose puisuint to notice, to move fir leave to bring in
It Bill to amind the law relating to savings' banks.
He was sorry that any delay had tiik,n piacce in bring-
ing on th© subject before the House, having give,' notice
as early as the first night of the session that be would
move fur leave to bring in a Bill, but illness and press
of business had prevented him doing so until
the present time.—(Hear, hear.) He would make no
apology in laying the propositions which he intended to
make before the House, because all were agreeed as to
the importance of the subject, and few who bad turned their
attenti..n to it were unconscious of the E xtreme difficul-

ties which would beset at any attempt to make en alte-
ration in the present law as concerned these societies,
That some further legislation was necessary as to the
constitution of savings' banks, they were all equally
agreed. It appeared that it was nearly forty years ago
wheu societies were first formed for the purpose
of affording the poor a secure mode of investing
their savings, and of obtaining the payment of
interest upon them. From that time they had
gradually grown up into importance until they now had
as much as twenty millions invested in their hands, and
it was not surprising that these institutions should re-
quire new reguLtions when their operations had become
so gigantic. But there were other circumstances which
rendered it equally necessary for the Legislature to inter-
fere. Most of the savings' banks now in existence were.ori-
ginated and supported by reputable and benevolent per-
sons, but they did not give that regular and constant
attendance t.) their affairs which was indispensably ne-
cessary to their attaining a state of efficiency. Without
attributing any blame to the trustees and patrons of those
banks, he would say that, with few exceptions, they gave no
regular attention to their duties, and the affairs of the
banks were genarally left to the management of a secre-
tary, an actuary, a clerk, or some -other officer over
whom sufficient vigilance was not exercised. From re-
cent failures of those institutions it appeared that the
trustees were in the habit of signing cheques in
blank, and also that the chi ques which they
exercised was, in many instances, merely of a nominal
character. The Bill which it was his intention to pro-

pose was entirely a prospective Bill ; and at a later
period of the evening he should prop.se that a Commit-
tee be appointed to take into consideration the last section
which it contained. He thought it would only encumber the
Bill to extend its operations to past transactions. It
would perhaps be advisable to refer shortly to the his-
tory and progress of these societies, because people
seemed hardly aware of the nature of their conatitu-
tion. Not much more than thirty years ago they were
not at all recognised by the Legislature. It was little
more than forty years, as he had already mentioned,
since they were first formed. He believed the
first society was es-ahlished at Wendover, in 1799.
In 1804 a similar society was formed at Totten-
ham ; in 1808 another was formed at Bath, and

in 1810 one was established at Dumfries. •The one at

Tottenham was st 4rted by 6 benevolent individuals fur
the savint:s of the porer chases, aid they agreed to

allow 5 per etlat. upon the deposits. Each of these
6 persons were responsible to the extent of 1001.
Thy Ivere to have another trustee for every tool.

Now to such an ext nt these voluntlry_ socit.t:eA
that in the ye; ::,r 1817, when the first legi6lati,in took

plam on the subjee-, ti-tere ha l b-en fiirint:d by the
voluntary asiociation of b •uevolent persons no less than
seventy of Ouse s6eiotefi in Eng‘wid, tear in Wales,
and your in Ireland ; and the Whole object

of that L'gislation WIS to prohibit the trustecs (corn
reeeivin.,?: any profits :Ind to provide for the d<•posit of
the moneys of the societies in tle public funds. There
was no secur.ty whi,ever previously for the t 1 pouts
except the creit of the tro twos. and their h,inout able
dealings with tit. depositors. In 1817 the Ci,,vernnee, t
tted,rto,k to r, ct ive the :zn der .oe,l in the saviw,43'
banks, and to be responsible far them. and Ito allow a
certain rate of iht<,rest thereon. In 1824 an Act as

Fissf.d to render it inivrative on the trosti:•es
t- transmit to the Commissioner 4 for the lieluc!iin ~f

the National th:nt the cepthiti to be lotigeil from tin to
time in the banks, aril t,) he invested in the put)lie
fun& From that time the Government became re-

15ponsible for all the money transmitted to them, but

A carte'-
teey heeetee rsspeneible for e,se• _ ortbe
;,..:(• of n.t..r( st was ,INowed to the tru,tel
tiro
n?.,,-,Terocnt of tee heels, end th•• re:eel:ols e
te ff sr b'ar'.p. la
1825 ,'"' c:,4 were eereoteleted er
'h ees;testetee. :Me he ireeee Amite he pr'' • ese
t.ffe t by en etlieer eppoieted bs the Govereoeuto; ;set
trustees were exempied from hat:A.loy, sxcePt 044 01
own
iu I eves of neglect or fraud. I"y, y &Leo!'
-e' e. es es.-- et afliee exempted the
ii t, vcdUCEII the ret ieter °fete
res:outhibilay iheekosee
meet, consorted in this—the, rules of savings' bee by the
to be transmitted to the proper otlieer appointeibesteset
Government to certify teem, and to see ere pee
were in conformity t ) law. The trustees 'IA Pre
fectly competent to make what rules they elea&,se, Jt
vided they were not inconsistent wi:b the lees Qt
was the duty of the Commissioners for the Bede, jebe
st
the Nationel Deet to receive any sums that invert
transmitted to them by the trustees, to ~dc
them in the funds, and to Ply thetobe
ieriw
to them when properly called upon by twos°.
tees. Annual accounts were only required fecomeir
witted to Parliament by the trustees; and thee
siocers of the National Deb: ha-I a check on lb' tru Of
sap b'
the knowledge so furnished, and they had aloe b'
of closing their account with the trustees if they f Wee
o
With regard to all other matters the trustees . ores
savings' banks had a complete control over tiles e ..i.vsef!
The first question which had been raised by tilted
discussions on this subject had been as to the 7 es t 1
the responsibility of the Government Be per'
of'
the responsibility of the trustees. The trestee'oegO
altogether liable for tl.e neglect tbet
erstoBl4
be incurred by them as individuals; and the Gelbemendi
were only responsible fur the sate custody of °coo COI,.
as had been transmitted from the banks to 11)°'
miesioners for the Reduction of the National 01
In the year 1828 the responsibility of truste;Leee
affirmed, but in 1644 the liability was reln°,herellile
them, and it must be perfectly understood that 'tieelf
no responsibility. Hon. Gentlemen seemed 10114
have forgotten the origin of these bodies, t
were voluntary associations, and not conbecLsere,ll
the Government at all. The Government seereost IfY
their bankers, and responsible for the 111°1101d die 5
paid. Until the last year or two the these,' "doer,
sponsibility of Government had never been lee
nor had any application been made to Gereren-enek,
compensation. No instance had occurred e` esviegee
having been sustained by the failure of fele -rten
bank until the year 1824, at Carmarthen. J•L'eete
at that time were liable, but it taro- e°"
that they were not able to supply the defieieee
ti
the Lord-Lieutenant of the county, he believe's' of
the
took to compensate all the sufferers. The theeeluee
responsibility of the Government viels Prr
new one. Nor did he think that in ea 1)
posed measure it would be right to take AtiPpescl
Government the charge of making good ankuntse.,,e°l
which might occur from the neglect of ani.tsfee%
officers. He also thought that any general I,°"`e es%
with the appointment of officers in the sawngellifib'
would destroy that which he held to be as.; Or,
portion of savings' bank, namely their volunteh'n'eorh
racter; but he proposed to appoint a treasurer, vieCts
generally be a local banker, and he would esskeebef
crime and misdemeanour for any other Pelle" this be
treasurer to receive and pay money, By doing f fen
thought he should remove the greatest occasion 100°
He proposed at the same time to repeal the he the fete
the Act of 1844, which entirely did away wit'eebsb;
sponuibility of the trustees. They were officers of to tle
and although the real responsibility would rest °bit elite
treasurer and manager, it was nothing but rig„e
the
the trustees should share in souse degfe tbB.,e
responsibility so as to prevent misconductLl le
part. The first clause of the. Bill ere'
Riede,
duties of the treasurer, and made it a et.l)%
meenour for any other officer to receive ill esse
money. The next question which the
.73.1,1;0
with was the subject of audit. ""- obje,'
introduced his Bill relating to Ireland 500 e est";
tion was taken as to the mode of audit there.th
lished, inasmuch as it could not apply It b:
degree of satisfaction to seaport towns.-/ er
however, been partially in operation 111 stil
of the large seaports in this country,
firer use,
it had proved most successful, and he r
to extend the system of audit 'IOW bri.eLlere,
tion in Ireland to the savings' banks of :"rl,Ol,
reserving, however, power to the Treeji
send inspectors to examine the books.
The 011
he disposed of the second clause. se "-a
clause dealt with the question of interest t
allowed on deposits. He proposed thilo.
Government should act as the bankers ere
depositor. The depositor did not care so Intr,,"
interest as the security of his depose': 11:f
it was only fair that when Governments
the risk of guaranteeing the repaYtee-ehlve
deposits,' without reference to the loss steee
might arise on the purchase and sale 0f.,„ tOol
that the interest should be at a I°''reeeie,„
At present the managers of a savings' bank :"he rod
34 sa. as interest on the moneys they paid to L00;1,
vernment, they al lowing 2/.175. 6d. to their dePo°l-9/,
proposed to reduce these two sums to 3/. ta,' reor_d
In the year 184 G-47 the number of depositor,/ ":elerre,
by upwards of 12,000, but the decrease was in met b'e
sums, the depositors under 201. having in the Itieteee"
increased more than 12,000. He proposed, the efe,
limit the amount Of deposits to 1004 Ilesbs"hsttiicl
pressed to reduce it still more, but he thougloLoosee.
best limit he could fix. When the amount eerie
reached 1001. all interest should cease, and if eh° r•ag6
chose they would invest their money for thePil;bev,"'
funds, receive the dividends, and pay them "toff.'
giving them also a power of attorney it they ehese, eel
point another party to receive them. All the 6-, 40 gee
sluts were prospective. He should not coulee' ee
isting depositors to submit to those terms, but eeberj,
sidered it would be for their advantage to Wei)", Cir.-
Iu confirmation of his views on that part of the - t
ijoyse
he had received several communications fie)° evs‘e
conversint with the subject, one of which Seri
°'
letter from the manager of the Croydon
Bank. This gentleman, who stated that he 116,, 16,7
for thirty years the manager, and for fourteeeseta
the treasurer of the savings bank at Croydon, obi
—" I have had occasion to remark that the 01
inducement to deposit money by those fer epee;
savings banks are intended consists in Tiporr..l.
sate place for deposit, and that the amount ()',l; bilges,
for the roost part forms but a secondary consw-r
whereas those persons whose means are greater'o o'
who do not actually require savings banks, use t,eil Oast
suit their einveoience when the funds are 11101'110 rol
their money out of the savings bank to invest hofh
funds when low, just at the time that the
from the savings bank is attended with Pieslevee
country. This cause operated far more extensiveuto lee
bank in 1847 and 1348 in reducing our capiteliteh eh'
stagnation of trade did. Twenty pounds woolu;netoisasl-1,
enough tor a depositor to be allowed to put, .-00erSe'
batik in one ear, and when the sum investeal ter;
1001. there is no necessity to allow further depolo,
made. Our secretaries are secretaries alone; °ele° e,
viuce is book-keeping; they have nothing te tree
money, and no officer of the bark is permitted- te sore
act business but at the bunk and in banking hours'oo.l,ol,
as money is in the question; stud thus tne tteeelleefletee
confined to the s,cretary. trustees, and mansteerse
money to the treasurer, trustees, and manager' del
sums with which they were dealing were of fie sifh,
amount. The gross amount of interest or dividend6l;"cee fre
by the Commissionera for the National Debt on. eAr
establiehment of savings banks in the year 181 t, 01-0
18,014,0001. up to the time the last annual aceoutleede
laid before Parliament; and the total amount Yeyble
depositors in the same period was 20,455,001, est, 0.
left an annual loss, at the present rate of inlieree the
42,6711.- per annum. He proposed then to refeeng
rote f interest from 31. 6s. to 31. per cent., linsithleeer
amount to be paid to depositors to 21. 155., whe,ice-e
be a very small reduction to each depositor. ell,
sent average rate of interest paid was 2/. ISsc'reetito.
cent., and the proposed diminution of 3s. 4d. ,reed.'ee-
would be an annual loss to a depositor of 101. ee' t iseee,
one of 201. of Bd.; to one of 50/, of ls. Bd.; ellue;
pusitor of 1001. a loss of 3s. 4d., as he ha air
which would be very small in the case of ettee,i4e o11'(
tor, but would be a saving upon the whole, o°"„id
relieve the Government from loss, while It w°,,riolP;#
ford the means of paying the treasurer for the Pete I,g
ante of his duty, and thus to a certain extent retie '0
savings bank from the expense of managetnevoifige
sum up, then, what he proposed with respect to
banks: the provisions were to appoint a tress°. 100"
whom all deposits should be received, lOb so t°
the amount of deposit to 100/., at wineceel
interest should stop ; that the interest Y"
the Government should be 31. per Cent"SeSt.;
that to the depositer should be 21. 153* dere et
'
with respect to friendly societies • and with reelooll'o
them, he proposed to enact that no further melleLiverf
be invested by them directly with the Colnreee be re;
for the National Debt, except so much as nigh to i.ted
ceived on account of assurances paid previ°,:re
passing of this Act. Hon. Gentlemen were awe rant`
f 0i
friendly societies were framed for the purpose Ok„,, eo, ;
assurances to parties, and the rate at which ieloter',lli
give the assurance depended upon the rate ei oele'
they them.:elves were allowed. Now, no Dee/be/JO:0
could invest except in savings banks at saving eurse:el
terest, but the older societies had given them esci 404 -01
dependent on the rate of interest they receive,e rOgfage
course it would be unjust to them to touch I—nriviv",nl
interest. He proposed, likewise, to limit the,
of investing in the name of trustees—a Prir"sere ineeer
had been grossly abused—parties having invege e,....eteers
actually their own in the name of other P'lll`eigsl
times their children, and at others merely 11°`..,"ftee '44,0
ties, and that was done, he was sorry to saPe°lo,
oe
the knowledge and advice of the trustees. pers'o
b id been carried on to a great extent, to enable ee berio
to avail themselves of the privileges 00Tel otneeo,
accented, and invest sums far beyond LI., drl4t,
which A was Originally intended should tbeeeforot:
sited by parties. Ile should enact,
that no person should invest as a trustee, e" 90"
b+-1141t CA a sue: see in hifancy, id *
iotcy, lune Whir
soundrieee of mind. The only other provisien to
he would eel attention was that referring e Actor
granting of iennuitiee, which, according tcetlh d not 00
1833, under which they were granted, cu,u being
under 4/.; and in the case or the party fide b!' °g
to continue tee payments (which might be beesellee
st stun'-nt.), or dyuig previetts to the enneitLeed, tes
assileble, the money pail by him was re , of gqe
did not. prop se ,iisLurb the exist'lig P"re.! .11d t'u"s,
irt4 atinu:ti,s on thc.),.e titit ties twliodioo„,
p!,w,r of purchaqing annuitic:: wider otbereictiweil,:(f.
and es those new etenuities could not be Pecieee tl'het
payments m lee in it.,,thltnent's he r el b'tsbe
wo.o
eg 10
amount to 1/,, and the Mode of working
evi' '
tee pnreisaeer . could accumulate his. 8 011 110
stsviegs hank until he hsd sufficient to buy °d thosd
first of le, subsequently of smother potleeehe bank
il
might go on ecsumulating his savings in lees,, tint
purchasing annuities of 1/, from time to title

;I

hail ----........____....................._- -
purchase, a!tsgeiher an annuity of :301 A fcur,,,t;iie_r_
o, to .-- ". d , tic 'tot would b., thlt 0 id"
abasing • riven an . r ss . ,
at
,_,
~,, T.,,,,r_
ehas:rg: a stun to ha p.,id to a pary 1
,s.,ve
t s death. The Govern -nen.. would no doubt a..
the case
o°l,igolird
.against the risk of bad livpa, whiel), ii.i .
~,o_
tios.Blranee c'Aepunies, notwitheanding all their li."(;the
~
,b, freefiCtilly eliosed a loss; bat he pr -posed. that _
'',4or.'Y Olould a, the same time purchase a deferred an
provideltY ne Prepo,ecl. therefore, that it a party wish" to
h_ an we nit; far his widow or chil,tr,,n, he _ll,,u!ti,
've the
ottoasniinuitP;vi'elrfetuwZlvdebr'elvhe't very paymenthopp t uo
P ''tl
avail d elh,‘
ihi him-,elf
bt-i, eell:t*
)level Infu'usation that could be furnished him.
e,,he had aeted on the suggestions that hai ef-
(I°,lle'stiYlelig‘tvo him from various parts of the country. The
as one into which no party
ester.
0, ta °ll lioll• Members were actuated feelingbyfueolinuegcou l
whod
*ere" sub' Members
which would be best for thus-
tore-
the
deeply interestel. He should be ready
to the amend
suggestions, therefore, which tendwould
of the
44.itiuneadrnent of the measure. For the interest
ineti
tilti gal sea savings banks were most valuable.
tai,s 4 Is °P1"1" the
°Ils; but i li• • • establishment of annuities
th„
~
„, 0 valuable still. Heno his
• "htlealtiek f Ihe sincerely anx
it, he -ti the case; an( was . ious,
tlio•llivt 1' sure was every Member in the House, t) meet
q ereius of those concerned.—(Hear.) •
flet „r•.,11-TNIE said he hal directed his attention to, the
ttd Fnuer the notice of the House for the last 30 year;,
ti. o‘or_tithe last 12 years he had directed the.attt:n
He
aftsgii't_k% ancellor of the Exchequer to the subject
hoe bee
surprised at the amount of the loss esutated.to
that rho incurred; but he very much regretted to say
L , 0 bolieved the Right Hon. Gentleman would notue
:,_ 'tele to carry out his plan. The people of
Ott the
had been deluded by the Savings Banks Acre,t,e
totlethe
tunry was pledged to the safe keeping of the
the tf e depositors. The Act of 1817 only, made.n
40,ernoinverrament answerable for the sum invested i
to 4_ eat securities. This left the depositors liable
treasures and robberies of all kinds. At Tralees,tetehse.
la ,:ecru:air:tor y7ars the dupe of one of the
do 04 . • pantile a) opinion the Governnaeinttrauhould
Poor ai °` two things—either leave the saint s of the
their °lle, or secure to the depositors he whole of
tht't tr°ll,-.6Y• Re OIL Hume) had always regretted eip6 " Government had departed from
.t _ P
in
Lon-do °f
)the first savings bank astablish!el.
"%ith n' 1813—the Western Provident Institution
Th "thy ever
~, fee 0,1, Y pound deposited. w!is converted into
-.eat should nt. Stock. In his opinion,
the
Lodtake. upon 'itself the task of buying into
the Govern-
-40410,. %for the depositor, and save him the
h expensem .
it, If. Vs ' time which he would incur if he did so hi
P"1 te the the)! had not done so long since was a greatle-
ontes„. Government, while it was no gain t) the t
..
20006" ,la thirty years the Government had peanid.
troy' 004 more than it had received, which webs _ , ,This 13,,wihg to the mismanagement of the savings ar.ko..
Ittlro:e accrued from the difference in the rat,
hadf
,talcs noonad it was certain that if the Government
have
um tit itself the responsibility, it
o
Sys pay half
1844 had taken
ty aii _ so much. The Act of would not
, tod a, resPonsibility on the part of the Government,
let "s:re
Was,was therefore
tletts, Berry thal no
security for the doGpoesni:
Right Honourable
losses
Ithiehi,u4d'aid nothin about making good the -
„lithe! tlitfireen sustainedg by depositors, because he be
"eke -at every• penny lostwas lost through confi-
Ithat 41 the Gov
opinion, the Govern-
s', should ernment. In his. well _ make thernielves responsible for these losses,
'ssoh fttor all I uture.deposits; but he doubted very
Yliletalist /7°114 not be better to adopt the Scotch
I,l"hteitrest•"frootnPertabteioda since 1818, whereby banks allowed
which money was deposited.
:1,4 tahs':„,,iL great csoymniland of means
.to the. commerce
Ltg, ort'liettus of the country,. while it secured the
"le e Poor• To adopt this system
all the.Go •
' Pssaib.,• vefement from all interference, and remove
would re-
ob-
Jeetc4
alsolitt goof loss to the State. He (Mr' Hume)
A '
!Nib, , th s becoming: an insuring bor.),
it s elat tj,__ e State .
hi,
ort,tenee:iTe.wre suffic.ientinsur ace offices already
quitea unnecessary. In
1444Piaico, it°o_d alto that it was
Nip ce dat,, 0 would be far better to take off the in-
ho; th.. 4 t.',„ Pto 1001, and thus afford facilities for the
~, p Convert the State into an insurancelimits
core-
crAM ht,4e gait° agra d however, with the hmita pro-
*lllloPlitrstettide I,llgh.t- aeon'. Gentleman. The plan was too
Ogio t,' kerns opinion, and he considered it was
Lait it ,r,"e nreent to adopt it.
'' the e."1411-TGIIPY said the question to decide
104114.5;14° was hio—who were to bd the responsible
Nile er the 1.1111? It was not the fact of getting
s r a
13
an
liCtrilt co timber of high names that made_or
tilll°4l bultnission. The Commissioners
they
the
otr re ebt!vvero all high persons, but had
thtl: pf 3tPhoetitible duties to perform. The speaker was
AQ,.„,ehief. .1118, theblaster of the Rolls was another,
themltitaof s.!ton of the Exchequer was another, the
o-
II!, asd th.'eneral of the Court of Chancery was
an
Vlit4;" Chaticellor of the Exchequer was another.
es' eats, W.4° the only vvorkinc, man of the Commission;
htLitiritiottPi arise in which that public functionary
IC *lt. tru.ted.—(Laughter.) It appeared by
tOttal I-.)",,the House that the Commissioners of the
111,, ond evt bad power to sell all the savings brasnk
tht`Qe 01,:°11vert it into Exchequer-bills, and vice ve
i 4,
te/tisla ;ati°4 of this character which took place 0
04/.,000-4%,8,32aptl 1833, 1835 and 1836, and 1840,
*y 'Old, lOW, 'bree-and-a-Quarter per Cent. stock had
' amid 7
stir tetea, _ Uo,oool,bought. ,k Plte; , not for savings bank purpoisrelui,
s but for some
This transaction
1)0ile(itle;",!).' known to the Government. I 1836-7,
thtsitittoa°lll4l to the extent of 19,000,00u0/wetree
thallektEureount of the savings banks, arid. stock d
\hilktisaa°l. 13,250,0001 was sold. This involve
Op the 1,t,,,1n the former to the number
or
rf 2,120
1.400.
stomths 11‘ rs to the number of 1.300
ifiou eiskeest calculation ho (Sir H. Willoughby)
t%°',°oo...Ltesa transactions involved a loss, of
ii,siriteea'"& including the difference of interest. 'That
tileaoi lit 1,104 of the deficit, and the question that raised
"kili'lll the °: nIY what right hail the Government tot
"idle
fate
-e alterest, but also what right it had
.no
tlishQii the: 'sayings-banks deposits in the manner i %wrote ; lacl been bandied. He (Sir H. Willoughby)te
StuN„thealltiect on the Noble Lord at the hisad ?nenht.
MO ay, to consider whether some yea , ft- i
ttn,, d, I°lll could not be established insteade of that
tkrtott.hatiitts 175 clear that the mishandling of. the
.
ttpo qt•set
.-eposits shOuld be prevent-A by Jaw,
t:flil'olithTotiltlilsette section 13 William IV., should_na be
t „ssight Hon. Gentleman the late G.
xcil'ii Po: --cwequer was due and owing the cessation
kll'itiiittitiazteztstlnsof converting savings-batik stock intot
' and vice versa. To release trus .
14 l'veali''nra 01 savings banks from liability was.to soet.
4it',„,,tlliit-,11/,f ttiriP,on carelessness;
.and the reduction t
11,14 Clextro wrest upon deposits would be, he felt
Ner%-tiog oitaelY disagreeable to many parties. If the
c4tll:''hala hsst_ll4 911 Geo. IV. had not been repealed,ment
k 4,p0,. ve been no loss at all to the Govern
k f g 'flora
ttlt 6 ' ettAt •
t° 6 ,e felt th.VFORD expressed the great disappoint
e
It:re of the the Chancellor of the Exchequer gay
tl4;l4otii" retUrtl of the deposits to those. u•nfortu-
Sti:°4 locirskwho had been the victims of misplaced
'N,IC1,000( t"e Government. In Rochdale no less_ rie ,otiel,a
,was
abstrieted • though through the exer
4tltP I L-e!lllees of the ' trustees,tho depositors would
,
k 's. tot - ill th„
I.4ts 'es re ".Pound. The moral responsibility of
'N PI • sted with the Government, because the de-
, 101ae',`Y fo; t. haste, that they had the Government as
Nii , th, 8 'elr Money behind the trustees. There .
til4itl' Thetiblance of •ty, but there was none in
011itnItva I iPoor Peoplesees7k,Tre'd, therefore, not from
.414 eot t• but from that of the law; and the G o-_
• to net
Whi„lj(na con.
tar sot ...,,j 1144 sequently bound to mal.:e good the
thethess ' bhel sustained. It was an Get of cruelty.
'he o° in , I)°°r people to invest their bard-earned
kith ooser'Y way that did not afford perfect security.
?fity t classes had been urged by persons in
et. sari 0 lay
;Is I:, take est their savings in these banks—be hi
*rti-
f)Ntiti-4 )1,4 4 Part in this recommendation, and_
't.,l'etl sa-..h to think the investors ought to be
iiltbeht ash to
been placed under the protection o
fogs! ir ' T
ikii .) it
was he case was one between ric
• ti,-IZli-kltl:a. tit jthe:
jos t important to teach the labour-
}tee c,:iittitia 10!_ti)
otthhaet; i n
facutterosto were equally cared for by
there was but one law fir the
41.4 ofrPheisstociti;r.rithses'opfoospr.e—a (tltlte.ear.) He could not
k in behalf of the in-
t4e q tAukZ.ftering eonstiituents. '
i),,k1M11411114e th,"14,4,td the Right Hon. Gentleman told
h. tz6:,411051,,' " was a prospective Bill, and depre-
ljtti',l' la juji to the ast. Ile thought it would not
04Zolt.lt in --ss"°;° to those h had been deluded into
1;1 '*-atl3,--t;Tig* banks,w too agree that. no allusion
.°lea °t tr, i ' the past. e thought it would be
Li'l ' 411 " °dud - H •'' had been die-
s, rea i airs eto those cases which t
ciiiit/titiitti thettd/ 'were before the public. He did no
CO tra Thats.'". Member for Montrose that no
'th '44' be ''
er in the Bill was made protectthtaota
provisionthe
Nt„ lie* b belie, i
t! r• iity uill was e, ron the contrary,
f toisths4 the boites_etnserted which. would rotect the in-
, toil' Mtereralze
..`,.(1 no provision was introduced to pro-
S,,,'' re,i.hd, otadu.;:rhe system of paying interest ought
thlY 3,t,!..t'd. ur
thought,
of keeping accounts ought
110101 Ors at :° Lnought, on the 20th November of
Rettiii 411 k should ' stated hour, the accounts of every
."4 t litelts be closed, and the balance be added
ilY.lltittd '4' hY the general balance.
ho If, attention
'NI "ht - "0 this tsc alla,, good
___ Part. of the subject,it.as certain
0..11th041, to thew..oualel be derived from . "He would
4eisii4ttlititi:_hot atrPictoit, and would showlfthe Govern-
he' s tilts or for they legally responsible,.otnhae. Chief
i Debt
fot At 1 littneenßeductton of the National tit 'elll 41 ed, h°ll of the Exchequer himself. Still
thilllttlem,tts.,,, dios,e-_a_. been stated by the lion. Member
01% 4t h Y depost...!nnen.t were morally responsible, be-
te, sy, !_ci Qov.fLor believed, at the time he deposited,
th:Poihije aho..retlient security for the safety of his
11:: Ittie44', h, '' bow far the Government weree _fawiralys
t4m4e4 Of the
would. state what he conceived
9c12,
re-
IN* Ilthat savings The 9 Geo.
I'l%o 110,F., t, bank shouldaccountlsV" boalkm ,l,ae Coortt particular period, be
an
Reduction)t
Were' 4assht
we_rnissioners for the o f the
Ni re
~htl by there required to close the accounts of that
TilPin oilqired t 3 Will. IV., c. 12, the Commissionersithe
Di,..0 ,3, ths hvs.,his. puolish in the London Gozet g
D!tjetiiiiet of ''
rhow,hleh had not closed their accounts.
11:pr or
tirosil ,plsitorhe wise laws was obviou., namely,to•e
fill 4lotti
_ees. „ *oagainst wilful negligence onovbie .
liyhtip,
.tttirspotaiLi. ther Act, 7 and 8 Viet., rem_
sy.d..
o gene
Bt. .I,!itY from trustees on account of it
ea,,,' 11,,,.e ot •
the foe were the three laws which made
04,7 ~t. o.od depositors against the Government.
no the eu'ati.tened Member then referred to the
114:Jy,,,,trenti,ts
wtl,street Savings Bank. In 1828 and
%h otisoutltthat the o_, jilablished; and it was
Now
the ,itlNt e 8,, as
__ u
.talcations took place. N had
~rp, s4flehei, of r3(:)etured by law, been published, th.e
l, h° 'at th -MO/. could not, have occurred. So
ik h rlt e gllght ft ' ' ' 'the Go-
.l„' t -kt , illkisBi e was right in stating, a,
',,- tliq
.(I•oero,,_ °tiers had refussd to comply with the
15 ,0 NI kot toe Tient war© responsible to the depositors.
aey „ kis, , lows r_,,,._ tita is 1 .404 th •-. inrnment could refuse to take,
ttet. 4,,,e1ea or e, ease of depositors who bad lost
Ptt 41,e of de own authorities such a large
off . `lePositlrs
the • • previous to 1831,, were
SUbsequent depositors were the