The Sun.
London, England, 1844-06-14 00:00:00

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•
E 11ANK CHARTER BILL.
We are enabled to give a copy of the letter which was seat
yesterday to Sir Robert Peel by the private banters, and to
which we have referred for the last day or two. It is asi
follows : " Lombard-street, June 110844.
" TO THE RIGHT HON. SIR ROBERT PEEL„ BA4t.ur
" Sir,—We, the undersigned bankers of London, are
ilt-
duced by the importance of the measure, and our interest in
its success, to address you upon the subject of the Bank
Charter Bill now before Parliament.
"We were led to' believe; when the measure was first
brought forward, and 71te feel confident it was generally un-
derstood throughout the country, that although it was the
intention of her Majesty:s Government -that the paper cir-
culation of the Bank of England, in their issue department
should be limited to an amount not exceeding 14,000,000/.
upon securities, yet that in the event of any particular
crisis, arising, a power was to be reserved by the Bill,
enabling the Bank of England; with the consent of 'the
First Lord of the Treasury, the Chancellor of the Exchequer,
and the Master of the Mint, to extend their issue upon secu-
rities beyond that amount. - •
" It is with considerable surprise we find that the Bill nor
befoiethe House of Commons does pot contain any prOvi-
sion for an extension of the issue beyond 14,000,000/. upon
securities, excepting under the special circumstances named
in the fifth clause of the Bill now before Parliament.
" We are apprehensive that the absolute limitation of the
issue to 14,000,000/, without any power of expansion being
reserved, whether that amount be in itself a proper amcunt
or not, will create a general -feeling of uneasiness through-
out the country, and, _by preventing the satisfactory recep-
tion of the measure, will deprive the scheme of many of the
advantages it poisesses, and interfere with its success.
"We respectfUlly submit that the effeCt of such an abso-
lute limitation will be to restrict the business of the country
by leading to a general withdrawal of legitimate accommo-
dation, unless some power be reserved by the Bill for extend-
. ing the' issue, with the sanction of the authorities above
alluded to, in cases of emergency, to be made apparent to
such authorities.
" Bobartg, Curtis and Co. Fullers and Co.
Hanbury, Taylor, and Barnard,Dimsdale,Barnard,
Lloyd. and Co.
Bosanquet, Franks, and Barnett, Mares, and Co.
Co. Lubbock, Forster, and Co.
Brown, Janson, and Co. Stevenson, Salt, and Sons.
Barclay, Bevan, Tritton, Price, Marryat, and Co.
and Co. Sapte, Banbury, and Co.
Hankey and Co. Weston and Co.
Smith, Payne, and Smiths. 'Twining and Co.
Willis, Percival, and Co. Dixon and Co.
Masterman,Peters,andCo. Coutts and Co.
Rogers, Olding. and Co. Herries and Co.
Spooner, Attwood, and Co. Ransom and Co.
Currie and Co. Strachan and Co.
Glyn, Halifax, Mills, and Scott and Co.
Co. • Cockburn and Co."
Williams and Co.
As the above presumes a knowledge of the sth clause of
the Bill, we have extracted it, as follows, for the benefit of
the general reader, who will thus have the whole subject
before him :

" Provided always, and be it enacted, that if any banker
who, on the Gth day of May, 1844, was issuing his own bank
notes shall cease to issue his own bank notes, it shall be law-
ful for her Majesty in Council, upon the application of the
said Governor and Company, to authorise and empower the
said Governor and Company to increase the amount of secu-
rities in the said issue department beyond the total sum or
value of 14,000,0001., and thereupon to issue additional Bank
of England notes to an amount not exceeding such increased
amount of securities specified in such Order in Council, and
so from time to time; provided always, that such increased
amount of securities specified in such Order in Council shall
in no case exceed the proportion of two-thirds the amount of
bank notes which the banker so ceasing to issue may have
been authorised to issue under the provisions of this Act ; and
every such Order in Council shall be published In the next
succeeding London Gazette."
The following firms, therefore, have not signed the memo-
rial :
Bouverie, Norman, and Hoare.
Co. Hopkinson, Barton, and Co.
Call (Sir W.), Marten, and Jones, Loyd, and Co.
Co. Jones and Son.
Child and Co. Praed, Fane, Praed, an
Cocks, Biddulph, and Co. Johnston.
Cunliffes, Brooks, and Co. Prescott, Grote, Ames, Cave,
Denison, Heywood, lien- and Grote.
nard, and Co. Puget, Bainbridges, and Co.
Drewett and Fowler. Snow, Strahan, and Paul.
Drummonds. Stone, Martins, and Stone.
Goslings and Sharpe.

MR. CAPPS' LECTURE ON THE
CURRENCY.
Mr. Capps, the author of " The Nation in a Dilemma," in
compliance with the:request of several gentlemen, on Tues-
day last, re-delivered yesterday, in the large room of the
British Coffeehouse, his lecture on the currency plans of Sir
Robert Peel, showing their tendency and effects. The audi-
ence listened with the deepest interest to the lecturer, who,
in a clear and most effective exposition of the subject, sup-
ported by extensive statistical and other information, laid
down, and, it might be said, demonstrated the following
propositions :
That, according to the practice and the ancient monetary
policy of this country, the pound has not been what Sir Ro-
bert Peel described it to have been—namely, a certain defi-
nite (by which it is concluded he must mean invariable)
quantity of the precious metals.
That, supposing it had been such hitherto, it ought no
longer, under the existing circumstances of the country, to
be of such a character; ter that the quantity of gold and
silver to be obtained for the pound, ought, as is the case
with all other commodities, to be made to depend upon the
amount of taxation upon commodities.
That Sir Robert Peel, by means of his corn-law legisla-
tion, has proved that the pound should be very different to
what he would make it by his currency legislation ; and not
only so, but that the pound in this country ought to be a
variable quantity of gold or silver, instead of a fixed quantity.
That unless it be so, goods cannot rise in price according
to taxation, in obedience to the:soundest maxims of political
economy, and that neither can taxation be made to fall on
the pm ties who ought to pay it. But, on the contrary, if
gold and silver be allowed to rise and fall like other commo-
dities., that diminished quantity of gold or silver which people
would receive in exchange for their pounds would act as the
most perfect property-tax.
That the circumstance which has been represented to be
such a dire calamity to the country, Niz., the unfavourable
state of the exchanges produced by the Bank Restriction
Act, and which has given rise to all Sir R. Peel's fatal mea-
sures on the currency, was in fact that very circumstance
which produced ample and remunerating prices to all our
productive classes; and also hindered the foreigner from un-
duly profiting in our high-priced markets at our expense.
That instead of the Bank Restriction Act giving rise to a
new course of practice in our monetary affairs, it might more
properly be described as a resumption of the ancient practice
which had existed for 600 years previous to the establish-
ment of the Bank of England, a practice the circulation of
that corporation had unfortunately superseded.
Mr. Capps thus concluded ;—" I beg to conclude by en-
treating you, as Sir Robert Peel said that the whole
foundation of his measure rested upon certain assumptions
with reference to the pound—and for which assumption I hope
I have made out to your satisfaction that the Premier had
no good warranty—that you will exert the utmost influence
you possess to prevent the dire calamities which must ensue,
should Sir Robert Peel succeed in establishing his system of
currency in all its stringency and rigour. With regard to
the ultimate] result I am perfectly at ease, as I know the
truth must prevail in the end. The Premier's present suc-
cess will insure his final defeat, but the misfortune is, that
this happy result will only be brought about by the intense
sufferings of the people. If the further suffering of several
years could be prevented by the exertions of those who are
actively engaged in combating the errors which prevail en
this subject, it would indeed be a glorious achievement. May
I, without offence, earnestly and respectfully beg all present
to lend their aid to that excellent Society, the ' Society for
the Emancipation of Industry,' at the request of the pro-
moters of which I have ventured to appear before you this
day, and given what assistance lay in my power in eluci-
dating the subject."
At some moments the effect produced by Mr. Capps elicited
marked expressions of surprise and approval, and so con-
vincing were the arguments and diagrams to the audience,
that there was not an objecting voice. Some remarks were
subsequently made by one of the company on the injustice
and inexpediency of Government interfering with the circu-
lation of the country banks, alleging that publicity given to
the names of bankers as a means of ascertaining the extent
of responsibility, afforded an amply sufficient protection to
the public. It was urged that all that Government had a
right to interfere in was the supply of a legal tender-money
suited to our natural circumstances, as regards taxation.
At the termination of the lecture, W. Williams, Esq., rose,
and after thanking the lecturer for what he had heard, moved
that Mr. Capps be requested to publish it without loss of time,
as he not only desired to see the statements tested, but, if
true, that, even in the eleventh hour, they should prove
effective on our senators upon a
.o the national interests.
question so vitally important

13 iu 1: ;Niaibi
An accident occured yesterday on the Hampton
course, which it is feared will terminate fatally. A young
man was lying stretched on the ground within the rails of the
course, when one of the horses went over him at full speed,
inflicting a most dreadful wound upon his skull.
THE LATE DEATH FROM PRUSSIC AClD.—Yester-
day the inquest was resumed by Mr. Baker, at the Fountain
public- house, Stracey-street, Stepney, touching the death of
Rachel Belaney, the wife of a surgeon, who is at present in
custody, and remanded for examination at the Thames-police
Court, on suspicion of having administered a fatal dose of
prussic acid to the deceased. Much additional evidence was
obtained, but the m 3 stery attached to the case was by no
means cleared up, when the Coroner again adjourned the in-
vestigation till two o'clock on Monday next.
Prince Henry of Holland, in command of a
small Dutch squadron bound to the Blediterranean, arrived
in Plymouth Sound en the 11th instaxt, and was received by
the Admiral of the station and other authorities with all the
honours due to his exalted rank„
e}d,nesday night. there was an immense
ANTI-CORN-LAW LEAGUE DEMONSTRATION AT
—li
at inhabitants intasnla‘ werer
reep-rter
meeting in the Town-hall, Brighton, at which upwards of
saednet ,
Association,convened b
iny thet h e
characterßrig h t on
AL"nti
of friends of free trade. Mr. Cobden and Mr. Bright were
there, and made admirable speeches.
HAYmAnxia THEATRE.—We are desired to state,
that there is no foundation whatever for a rumour that Mr.
Webster is about to quit the management of this house. It
is true that the Adelphi will open under his direction, and that
probably has led to the erroneous supposition that he will quit
the Haymarket, whereas he will be lessee of both theatres.
TILE KING OF SAXONY.—ACCOrdiDg to present ar-
rangements, his Majesty leaves for a tour in Scotland and
\Vales, on Monday next. On Saturday his Majesty and
suite !ntend to honour the horticultural exhibition; at Chis-
wick,. by a visit.
MILITARY INTELLIGENCE.--Captain Rus2ell, En-
sign Vedder, two sergeants, one corporal, and twenty-seven
privates of the 58th Regiment, are ordered from Chatham
to Deptford, on Monday next, to embark on board the Lord
Auckland f!ouviet-ship, for Van Diemen's Land, as a con-
vict guard.
Sir John Chetwood, Bart., M.P., has been placed
in mourning by the demise of his son, Lieutenant Chet-
wode, commanding the Royalist brig, 10, at Port Essing-
tin. Mr. Chetwode's commission, as lieutenant, bore date
Aug. 27, 1832.
Mr. Ford, who was engaged as one of the solicitors
fur the travel sers in the late State prosecutions, has•arrived in
town, and laid bcfore counsel the necessary papers - for the
prosecution of the writ of error. Yesterday the Lord Chan-
cellor sent to ascertain whether the agents of the traversers
would take the 6th of July as the day of hearing in the Lords.
In reply, it was suggested that the 6th would be Saturday.
A communication was subsequently made by his Lordship,
appointing Thursday, July 4, which is accordingly fixed as
the day for opening the case.
FRANKFORT, JUNE 8.-Her-Majesty Queen Adelaide
left this city yesterday, and continued her journey by way
of Fulda to Altenstein. The Duchess of Kent is expected on
the 21st of this month at the English Hotel, where her son
the Prince of Lieningen has already ordered everything .to be
prepared for her reception.