The Sun.
London, England, 1844-06-04 00:00:00

BANKING MEETING.

( Abridged. from- the Ayr Advertiser.)
pr _the Noblemen, Deputy-Lieutenants,
Cimiimssionefs orSupply, &c., of. the county, was held
in the Court-lrouse, here, on Friday last, for the purpose
of considering the resolutions, with respect to banking,
late* submitted to the House of Commons by Sir Rubert
Peel.

. .
Present:—Earl of Eglinton and Winton; James Os-,
wald, of Auchencruive; M.P;; James Ballantine, of
Castlehill ; Rigby Wason, of Corwar; J. D. Boswell, of
Garailan ; Henry Mlierral, of Hillhouse. ; W. G.
Campbell, of Fairfi3ld ; James Heron, of Dalmore ;
Capt. Hay ; A. C. B. Craufurd, of Ardmillan ; John
Hamilton, of Sundrum ; Hugh Miller, of Midton ; J. P.
Wilson, of Polquhairn ; P. W. Kennedy, of Drummil,
lan; Robart Pettigrew, of Tershaw; George 141‘Taggart,
Esq , Ayr; Hugh Cowan, Esq., Ayr; W. Buntine, Esq:,
Ayr; W. Brown, of Corphin ; John Paul, Esq., Ayr;
George Taylor, Esq., Ayr; Bailie Stewart; Ayr; D.
Auld, Esq., Ayr; Provost Brown; Kilmarnock; Bailie
Moore, Newton;. Bailie Smith, PreAn ick, &c.
On- the' motion' of Mr. OSIVAI,D, the Earl of Eglinton
was called to the chair.

.. The*Clerk having read the requisition,
The Earl of EGLINTON, on
,opening the business of
the day, said that the meeting had been called in conse-
quence of a requisition from the Committee—Who were
requested, at last 30th of April meeting., to watch over
the proceedings of. Government relative •to this subject
—in order to
_give - the county, an opportunity of con-
sidering the resolutions lately proposed by Sie Robert
Peel" in the House of Commons. A new princiPle in
banking concerns was sought to be established, and
should: that principle be adopted in England,. and the
Bill ,before the House be passed, there could not be ,a
doubt that its provisions would also, be extended to
Scotland hereafter.' 'Upon the point whether that prin-
ciple was good or not, he would not, in his place as
Chairman, -express an opinion.
Mr. BALLANTINE said, on submitting the first resolu-
tion, he regretted that it had fallen into the hands of one
so litt7e acquainted with the profound question of cur-
rency ; but it really appeared to him that the principle
sought to be established was not a correct one. Ire
-could net conceive.how it should ever be thought that
the issues ought to be regulated by the state of foreign.
exchanges, and that the currency ought to control traffic,
whether manufacturing, 'agricultural; or commercial.
Currency should be the servant,not the master. There was
little opposition brought forward to Sir R. Peel's measure
in England : but the Scotch were deeply interested in main-
taining the present system. Scotland had now arrived at a
great degree of prosperity, for which • they were cer-
tainly mainly indebted to the system upon which bank-
ing affairs. were managed in this country. To the faci-
lities which the Scotch banks afforded for conducting
monetary affairs, to their prudence in not encouraging
speculation, and to the liberality which they extended to
the public, were to be mainly attributectthe prosperity
which they had hitherto enjoyed,. and which, if the pre-
sent system were let alone, they might hope to enjoy
hereafter. If the general principle of the new measure
were so thoroughly grounded on just and proper views,
as Sir Robert Peel seemed to think, it would soon
find its way to Scotland. He had alreadY
said that part of our prosperity was attributable
to the facilities which the banks afforded us in maiiii-
facturing our goods and conducting our mercantile
affairs—not to cur industry, but to the privileges
which we enjoyed. It was well known what benefits we
derived from the issue of small notes. By the profit
which they derive, the banks were from the circulation
of small notes able to accommodate the, public much
better than they could otherwise do : they were able to
establish agencies in remote agricultural and mining
districts, which, should the present'system be abolished,
must inevitably be withdrawn, and the .consequence to
the farmers and others in these districts would be ex-
tremely injurious. . Mr. Ballantine concluded by reading
the first resolution.
Mr. OsWALD seconded it. The. reso:tiii, as of Sir I.
Peel were based.upon.i new principle, not hitherto acted
on, and he thought the county did \yell in protesting
against their adoption. If they allowed them to pass in.
silence they would be considered as centurring in them.
He was sure that if they were once passed in England
they would very soon be brought to Scotland. If he
attempted to effect this at once, however, he might meet
with great opposition—as he had formerly found to 14s
cost—but if it were once carried in England,' its intro-
duction into Scotland would be a comparatively easy

matter.
Mr. TiTLoR stated, as a proof that the measure wi
intended also for Scotland, that a bank which had beo
started in Glasgow previous to the introduction of th
measure, and who were prepared for issuing their note
had received an intimation that they would not be allows
to do so. The same thing had also taken place in r

ference to a bank in Aberdeen.
This resolution was passel unanimously.
Mr. BOSWELL proposed the second resolution, whicl
he said, so completely comprehended all that was
cessary on the subject, that it was not in his power
state anything further. Every one knew the benel
which had been derived by the circulation
small notes, but if this measure was carried, tl

Bank of England would have to circulate liaper
sovereigns to the amount of three millionS, for whi•
the people must pay—as any one knew that the banl
would not. From 1836 to 1841, although a consideral

number of new banks had been started, the eireulati

was scarcely increased, so that the periods of depressitin
that had occurred during that time could not be at
tributed to over-issuingin fact it Was impossible from
the very system on which they were conducted, that an ove -
•
issue could take place. When a person became possess d
of 201., he put it into a bank for safety, and also to obta, n
interest upon it. He might withdraw it, but it -wou'd
only be that it might again be consigned into the same
or another bank ; so that the circulation must:be kept tit
the lowest point. - 1
The second resolution was seconded by Mr. ILlsirreroi;,
of' Sundrum. i
third
resolution, M'ICERxAL briefly moved the adoption of the third
resolution, and was seconded by Provost MILLER. 1
Mr. WAsoN, of Corwar, moved the last resolution. He
had been in London when the reSolutions were proposed;
and the first questien asked was—" How will they be
received in Scotland ?" It was answered that the
"Scotch banks would be in favour of it, and that thOy
would lead the people." He thought, however, that . a
distinction should be dras'n between the people and the
banks. These resolutions were expressly framed with
the view of keeping quiet that spirit which a few years
ago had made such a' stand against a similar move-
ment. In 1826 it had been proposed to prevent the
Scotch banks froth issuing their own notes for - a
less amount than - 51.: the letters of Malagrowthbr
had, however; put a stop to any . such intention, and
the then Premier was met with such a storm of ep-_,
position that he, was perfectly unable to carry his
measure. In attempting a second time to Carry such
a project, Sir Robert Peel knew that it would be useless
to propose it in the same open manner ; but that it was
his ultimate object to extend the-system to Scotland was
beyond a doubt. If the measure passed—of which he
thought there could not be a doubt—the present banks
in Scotland would have a monopoly; and this was a very
sufficient reason why Government were in favour of it.
Monopolies, however, generally required some one to
pay for keeping them up, and it would be found that the
public in this instance would be the payers. The neces-
sary consequence of a suppression of any future,banks
of issue would be that the present banks would obtain all
the benefit of our increasing commerce and manufac-
tures ; their circulation would be angmented; and thus !a
circumstance; which, under a different system would
have induced other parties to enter the field of opposi-
tion, and afford the public increased accommodation at
a cheaper rate, will, under the proposed plan, compel the
public to pay for giving a monopoly to the banks already
established. In every district these - large banks had
their agencies; and on application these agents had re-
ceived instructions from their principals—" keep quiet."
They had received a monopoly, although it might only
be for a short time; and they, after reviewing the
matter, had considered it their interest to allow the
measure to pass in silence. But how would
the establishment of such a system affect the
agricultural districts ? . 'What necessity had been
shown for clanging the' system ? Were the Scotch
people in favour of a change—were they not, on the
contrary, well ' satisfied with the present system ?
Were they to call a meeting of the people throughout
Scotland, they would find that the people would say—
"We are quite content with the present system." He
was afraid that the party who proposed this measure,
and who professed themselves opposed to uncalled for
changes, were in this case making a change for Chang-
ing sake. The effects of Sir Robert Peel's change would
meet them every hour in the day. Every one was in-
terested in this question—for every one was interested
when ho had to pay out money. The local ageucies ill
remote districts would .be withdrawn, as the banks
would be deprived of the profit which they had received
from the issue of one pound notes; and thus a great de-
gree cf inconvenience would be felt by the inhabitants
in these districts. Gentlemen,carrying on agricultural
improvements would experience its etreets. .At present,
they could draw on the banking agent in their locality
for money to pay their labourers; but if this aCcom•
modation wero done away with, he was sure that there
would be a great diminution in the amount of agricul-
tural labour. . .
'Mr.. TAmon, in -seconding the adoption of the reso-
lution, remarked that the exchanges arose from the im-
ports exceeding the exports, or Vice versa—the balance
of payment being gold. It was not in the. power of any
Government to change the balance .of payment without
producing paralysation of trade, and. great confusion
amongst mercantile transactions generally throlighont
the country. To any attempt to effect a dimimition'Of. the
issues was alone to be attributed the depression of trade.
On the suggestion of Lord Eglinton . it was agreed
that the resolutions should be publlsheci, and. Copies sent
to the different conveners of the - counties and inflnential
persons throughout Scotland, and to the Members of boll
Houses of Parliament connected with the, king...cloth.
Thanks wcrc passed to the Earl of Eglinton the
motion on
motion a Mr. R. Wason. .

LuNACy.-4n account of all moneys,
licensee, and of all moneys received and paid- out of the.
Contoliditted Fund; by- the e.ork •and treamFet, of the
Metropolitan Commission in Lunau, from ,1110,Ist,daY
Of icugttst, 1842, to the lst day of'Auggst, Is4a, has been
presented t) Parliament, , purstiant• to the "pio.Visions of
the Act in such case provided: Made and proVideeltlittl that
the total amomit receii'ed by the Conimisiionqlniing the
year above-mentioned by.orders from the Tff4sury,
was 7,525/., and the total amount of sums
,dishitrsed
9,4981., leaving.a balance due-ib the Commission The
year's account atriounting tattle Fullte4titilef-19tsh
the amount disbursed, the sum of '2.76111 was appropri-
ated to the fees of pad medical ippelissionyrs
" through Enklintd can-Males. The case recetvenji the
Commission for licenses amounted to the sum of 9421.
The account is signed by Lord Ashley, Messrs. J. R.
Gower, F. Barlow, Bissett Hawkins, J. B. Hume, J.
Bright, and B. W. Proctor.

'COURT CIRCULAR.
WTSDS9II, MONDAY.—The Queen and Prince-Albert,
accoMPaniel by , the King of Saxony, arrived at= the
Castle five minutes before four o'clock this .afternoon,
from the Slough station of the Great Western Railway,
having travelled from town by a special train. The
roYaCsuites, including the Viscountess Canning„ Lady
Caroline Cocks, Hon. Miss Devereux, his Excellency
Baron Gersdorff, 'Lord Byron, the Earl of Morton, Sir
Robert Otway, Lord Charles,Wellesley, Colonel Arbuth-
not, Sir E. Bowater, -I,f. dei-Minckwitz, Count Albert
Vitzthum. Major ReichtiffrylirnTlYr. CaruS,- followed in
several of the royal carriage /__
A party Life Guards cif 1.1.11 P escort from
Slough to the Castle. DLL'
• mta
' The'tord Chamberlain and OA uster,z:4 the House-
hold •
received her Majesty and Prince Albert and /he
King Of Saxony, upon their arrival?
-"At six -o'clock, his Royal Highness-Prince Albert; at-
tended_ by Sir Edward Bowater, left the Castle for
Slough, to receive his imperial Majesty the Emperof of
Russia, upon his arrival by a special train from town:
His Imperial Majesty, attended by his Excellency-
Baron Drunnnw, the Count Orloff, and oaler geotlenaen
of his site and also by the Earl of Hardwicke, LOrd
in Waiting, Berkeley Drummond, Groom in
Waiting,-and-Colonel Wylde, Equerry in Waiting, ar-
xi red mat% the station at .twenty-five minutes past six
.

The Emperor and Prince Albert immediately entered
an open carriage and four, and proceeded to the Castle,
ecorted by a party of Life Guards. .The Noblemen
and Gentlemen of his Majesty's, suite, and Sir E. Bo-
water,following.in two open carriages and four. ,
The, Emperor and-Prince Albert alighted at the Gri':nd
Entrance, where the Great Officers of State, the Loads,
-Gl.ooms, and Equerries in Waiting on her Majesty and
his Royal Highness, and the Master of the Household,
were in readiness to receive the august visitor. .
• Their Royal Iligline3ses • the Prince of Wales, the
.Princess Royal, and the Princess Alice, accompaniedlby
•the,Dowa,ger Lady Lyttelton, arrived from town abeut
half-past one o'clock,. travelling by a special train. ,
A „grand dinner was given, last evening, in the Wa-
terloo-Gallery.
The company Consisted of—Her Majesty the.-Queen,
his: Royal Highness Prince Albert, his Imperial Ma-
Ray the Enaperor of Russia, his Majesty the King ':of
Saxony,`the Ihichess of 3uccleuch, the Lady in Waiting,
Viscountess Canning ; the Maids of Honour, Lady
Caroline Cocks and the Hon. Miss Devereux ; the
Woman of the Bedchamber, Honourable Mrs. An-
son ; his Excellency Baron Brunnow, his Excellency
lan Geraderff, - the - Duke of Devonshire, the
Duke Of Wellington, the Earl of Liverpool, the Earl
Delawarr, the Earl of Jersey, the Earl of Aberdeen, the
Earl and Conntess of Wilton, the Earl and Countess of
Rosslyn, the Earl and Countess Cowper, the Earl' of
Hardwicke, the Earl of Morton, the Right Hon. Sit-Y.
•Peel, Viscount Canning, Lord Charles Wellesley, Baron
Stocktnar, Lord Byron, Admiral Sir RobPrt Otway, Gel.
Arbuthnot, Lord Ge )rge Lennox, Captain Francis Sey-
mo.ur, Major-General Sir Edward Bowater, 'Colonel
.Berkeley Drummond, Lieutenant-Colonel Wylde'
C. A. Muraay, Mr. George Edward Anson, Cotint
Orloff, Mons. le General d'Adlerberg, M. d'Adlerberg,
le • Prince Wassiltschikoff, le Prince Radaiwill, Dr.
Reinolds, Colonel GLisenap, Mons. de Minekwitz, Count
Albert Vitzthinn, Major Reichardt, and Dr. Carus.
The magnificent service of gold plate was used, the
plateau containing a number of the.finest centrepieces,
having a row of gold candelabra on each side, -hearing
wax lights. The centre ornament was the Prince of
Wales's epergne, and two candelabra of larger size were
placed at each end of the table. The apartment was
also lighted by the splendid. chandelier in the middle,
and the four smaller chandeliers at the sides of the room.
Her Majesty's private band conducted by Mr. Ander-
son, was in attendance during the evening, and per-
formed the following pieces:
Overture " Iphigenie " Gluck.
Fantasia, Violoncello, Signor Piatti Piatti.
Movement from Handel's Harpsechord Lessons.
"Souvenir de 'la Tauride," Vaudeville de
Concert, M, Gulomy of St. Petersburgh Galomy.
"Sanata alla .Turca,"

His Majesty the King of Saxony, attended by some
of the gentlemen of his suite, and also by the Earl of
Morton and Lord CharleS Wellesley, left Buckingham
Palace at ten o'clock yesterday morning for Caen Wood.
His Majesty inspected the house and grounds, and after-
wards partook-of a dejewie.
His Majesty and suite took their departure in two
carriages and four, and proceeded to the Zoological Gar-
dens in the Regent's Park, and after viewing the collee-
tion returned to Buckingham I'alace.
Their Royal Highnesses the Prince of Wales, the
Princess Royal, and the Princess Alice, accompanied by
the Dowager Lady Lyttelton, left Buckingham, Palace
at twenty minutes before one o'clock yesterday, for the
Paddington terminus of the Great Western'llailway, and
left town by a special train for Windsor Castle. •
The Queen and Prince Albert, acconlp4,i4d by the
King of Saxony, left Buckingham,Patatek.,at a quarter
before three o'clock yesterday afterpp2u for the terminus
of the Great Western Railway at Paddington. The
royal suites, including the Viscountess Canning, Lady
Caroline Cocks, Hon. Miss Devereux Baron Gersdorff,
Earl of Morton, Lord Byron, Admiral Sir Robert Otway,
RPonsieiir -de- Minokwitz, Count A. Vitzthum, Major
Reichardt, Dr. Carus, Lord C. Wellesley, Colonel
'Arbuthnot, and Sir-E. Bowater, followed in,forir of the
-royal carriages to. the terminus.
Her Majesty was conducted to her carriage by the
MaAer of the Horse.

The royal party was escorted by a party of Lancers.
Her Majesty the. Queen Dowager left town yesterday
morning for the Continent. Her Majesty and suite left
Illarlhorough House for the Bricklayers' Arms' station
ofthe South-Eastern Railway, at a quarter-past eight
(Mock. .The. Queen Dowager . was accdinpanied by
Prince Edward of Saxe Weimar, and was attended by
the Marquis and Marchioness of Ormonde, Lady Geor-
giana, Curzon, Earl Howe, Sir Andrew larnard, Sir
David Da,vies,•and the Rev. G. 'l'. Hudson.
The royal party left by a special train for Dover,
where her Maj'sty and suite embarked for Calais. -
Her Royal Hi4laness•tho Duchess of Cambridge paid
a visit to her Majesty at Marlborough House, on Sunday
afternoon, to take leave.

His Imperial Majesty the Emperor of Russia, attended
by Baron Brunnow, the Russian Minister, honoured Sir
Robert and Lady Peel with a visit, at their residence,
in Whitehall-gardens, about one o'clock yesterday.
The statement that appeared, yesterday, of Prince
Albert visiting the Russian Embassy, accompanied by
Sir Robert Peel, and of his Royal Highness presenting
Sir Robert to the Emperor, is incorrect. His Royal
Highness having been accompanied only by Lord George
Lennox and General Sir E. Bowater, his Lord and
-Equerry in Waiting.
In the report of the proceedings at the termination of
the Visit of the King of Saxony to Buckhurst Park, it
was stated, by mistake, that his Majesty was received
at the parish church of Wittingham _by the Rev. Mr.
Davis, the incumbent. The Hon. and Rev. Reginald
Sackville West is the incumbent, and received his
Majesty at the door of the rectory.
The Duke of Wellington left town yesterday morning
for Dover. The Noble Duke returned to town in the
afternoon.

Mr. Wood, the Chairman of the Board of Excise, bad
an interview with the Chancellor of the Exchequer yes-
terday, at his official residence in Downing-street.
Mr. Browne had an interview with Lord Stanley, at
the Colonial-office, yesterday.
Mr. Ashbel Smith, Charge d'Affaires of Texas, has
arrived in London from Paris.

The Right Rev. Dr. Collier, had an interview with
Lord Stanley, at the Colonial-office, Downing-street,
yesterday. _

Dispatches were sent off yesterday evening from the
Colonial-office, to Sir Charles Metcalfe, the Governor of
Canada.

Dispatches were also sent to the Governor of the
'West India Islands.

DEPARTURE OF HER MAJESTY
AND HER ILLUSTRIOUS VISITORS FOR

WINDSOR.
IL having been understood that her Majesty and his
Royal Highness Prince Albert, accompanied by their
imperial and royal visitors, the Emperor of Russia, and
the King of Saxony, intended to depart from the
Paddington terminus, at three o'clock yesterday,
for Windsor Castle, a very great crowd was
assembled as early as one o'ok•eimiik-the approaches to
that station, for the purpose A1f4419.4, those distin-
pished personages. The numhers!macKpsksed every mo-
ment, and at half-past two the largin front of the
offices was densely crowded with humble sight-seekers on
foot, and patrician families in their carriages. At three
o'clock the royal cavalcade, consisting of four carriages,
oafr
rShaexdo nayt ;
thanedraiinlwtahye,
woittheerrestitlhoeyirwerree-
in the first of which were her Majesty, Prince Albert,
rsaeplicedecitsit'vehede sbiuyiiitne:sir. Russell, the Chairman, and several of
the Directors.

After the departure of the illustrious party, the
crowd gradually dispersed, the opinion prevailing that
the Emperor of Russia was not likely, on that oocaso.p,
to proceed to Windsor. llckwever, at six o'clock his
Imperial Majesty; -accompanied •by his suite in itree
carriages, arrived at the terminus. The Emperor was
conducted over that part of the premises where the
electro-telegraph was.inoperation, and he examined the
apparatus with great interest. In a- few minutes after
his arrival, he proceeded' in the royal train, which had,
by this time, returned from Slough.

EXPOUTATION OF ITORSES.--TwO spanking -Cleve.!
land bred .mares, admirably adapted for carriage °harness,
were shipped on Wednesday, by Mr. Bonsai, of *the Black
Horse Inn, per the Ernerahl. Isle steamer, for Rotterdam,
from thence their destination is up the Rhine: On the sanie
day-, nine capital 'mires-and geldings were shipped by Mr.
lay Nicholson. on board the Helen M‘Gregor
,steamer fbr
Hamburgh..--Hull Packet.
FATAL ACCIDENT IN THE RIVER LEA.-,--On Fri-
day evening, Mr. Higgs, Cbroner for the Duchy of LancaS-
ter,.eoncluded an inquest, adjourned from Wedneadayon the
body of Master John Stephen,, aged 15, at Ceok's Ferry
House, Edmonton Marsh. John Smith, of Edmonton Lock,
S.aid,-tirzt between `fives and six :o'clock on MoUdaY evening
last, he was standing ,nt his, door, when a young companion
of deceased came running
up, exclaiMing, `,` A boy is in the
river,'." He indicated the spbt, and witness Went. to it with
se boat-ho&k,:and saw a. boys c'o.tioatjugnea,r some logs of
timber in the water. Not beings ,te, And tiro body with
-the boat-INa, he, had the drags fetch ekand; on the-second
Cast.'ef thin], got the body outattie water, which ho took to
his own house and wrapped up in blankets and placed before
the lire. Mr. Howard, surgeon, was ailed in, and tried for
two hours ineffectually every Means' to restore 'suspendedanimation.. The logs of timber were so placed that children
can step on them front the bank, and deceaSed with other
-lads were plaitig acid fishing froth them all day.
The Caliber had been there upwards,:of a :month,aud its
po,siticru..lKas•laNceedingly: dun Brous. .The Coroner told the
jury that they could levy it doedatid on the Tokrif theY
.thought the proprietor of them had been guilty of any neg-
ligence, so as to endanger life by placing them too close in
shore.—Verdict, " Accidental death, with a- deodaiati of 1/. on
the logs of timber."