The Sun.
London, England, 1819-06-17 00:00:00

BANK ADVANCES.

Mr. PAEL rose to move for leave to bring in a
Bill to regulate the Advances of the Bank to Go-
vernment. The first provision of the proposed
Bill would be to make it necessary in every case
to have a specific Act of Parliament to authorize
an advance by the Bank to Government. The
next eiausc would authorize a written application
by the First Lord of the Treasury or the Chan-
cellor of the Exchequer to the Bank, as to the
terms of the advance after the Act authorizing an
advance tad passe& The third clause would go
to require that there should be submitted to Par-
liament an account of the terms of such intended
advance. The next clause would 'elate to trans-
actions with the Bank relative to Exchequer,Bills,
and would require that ►eithin fourteen days after
the commencement of each Session of Palliameo,
an account should be laid before it of all Govern-
ment securities in the hands of the, Bank. As to
the general scope anti details of the Bill, they
would be best discussed when the Bill was before
the Homse. He now moved for leave to bring in
the

Mr. GRENFELI. wished to know whether the
Bill would provide for empowering the Bank to
make advances on Exchequer Bills.
Mr. Pect.—By the proposed Bill no such ad-
vance could be made without a specific Act of
Parliament. Any provision such as the Honour-
able Gentleman mentioned, would be wholly in-
consistent with the whole object of 114 Act.
Mr. M. A. TAYLOR said, that he had long
wished for such a measure as that now proposed,
and that if it had been sooner adopted touch of
the public money would have been saved.

Mr. J. P. GRANT asked what effect this Bill
would have on the Act of Kiug William relatiVe
to the establishment of the Bank ?

Mr. l'agL—Ol course the Act of King William
must be considered as a part of the general law of
the land.

Mr. MANNINO hoped that.due time would be
given for considering this Bill.

Mr. PEEL replied in the affirmative.

Mr. RICARDO thought it would be very incon-
venient if, in order to enable the Bank to purchase
Exchequer Bills, it would be necessary to have a
specific Act of Parliament on every occasion.
Mr. PEEL Sdid no such thing was intended.
The CHANCELLOR of the EXCHEGLUER said, he
had fully considered the nature of this Bill, and
that he thought it would be very beneficial, with-
out in any degree producing any inconvenience
by a diminution of the circulating medium ; and
without interposing any improper restraint, in the
operations of Government on the Bank. The
great principle of the Bill was to bring before Par-
liament all the operations between Government
and the Bank. A provision would, of course, he
inserted ro empower the Bank to make any ordi-
nary purchases of Exchequer Bills in the market.
Mr. F. Lewis thought this was nut the proper
time for entering into a discussion of this Bill ;,
but at the same time he could not refrain from
expressing\ his satisfaction at the general objects
of it. He hoped that he would never again see
the Government and the Bank in the situation in
they had lately hem If advances were to
be allowed by the Bank to Government without
controul, the effect would be to give the Bank the
power of calling for re-payment, or for a renewal
of the Restriction Act.

ilir. HUSKISbON thought that this conversation

showed nothing but the expediency of waiting till
this Bill was really before the House.
•Leave was then given to bring in the Bill.
On the motion for the third reading of the
Banishment from Scotland Bill,

Mr. J. P. GRANT Objected to the power which
was-given to the Sheriff Substitute by this Bill.
The LORD ADVOCATE said, the power was given
to prevent the delay of justice in case the Sheriff
of the. County was
.absent, or prevented by illness
from executing the duties of his office.
Mr. BOSWELL wished to know whether the ef-
fect of this Bill would not be to impose an addi-
tional expence on the county.
The LORD ADVOCATE said there was no reason
to apprehend that this Bill would occasion any
additional expence to counties.
The Bill was then read a third time and passed.
EXCHANGES BETWEEN ENGLAND AND IRELAND.

Sir H. PARNELL rose, pursuant to his notice,
to move for leave to bring in a Bill to regulate
the Rate of Exchange between England and Ire-
land. The variation in the rate of Exchanges was
a great obstruction to commerce, by making it
impossible to know what quantity of a particular
article could be bought by a certain sum at any
given time. Another very important object, %vas
the equalization of the currency of the two coun-
tries. The best precedent on this subject was
what took place at the time of the Union with
Scotland. At that time there was the same dif-
ference between the coin of England and Scot-
land, as now between that of Great Britain and
Ireland. The benefits which had been produced
by that change were so great as to induce the
House to make the same change for the sake of
the same benefits to Ireland. Indeed lie did not
apprehend that any opposition would be offered to
his motion on ptinriple. Nor did he think there
could be a better time for adopting such a mea-
sure than now, when the finances and currency
of the country were undergoing a thorough ar-
rangelliellt. If a Committee was now, appointed,
although the Session was so tar 'advanced that
their teport could not be obtained this Session,
they b1i.4.61 do so mite!) as to be able to conclude
their inquiries next Session. Ile concluded by
moving that a Committee be appointed to inquire
into tile means of assimilating the currency of
EnJand and liCland.

The CHANcELLort of the EXCHEQUER_ objected
to the motion, on account ot the late petiod ot
the Seasion at which it was brought forward.
The Hon.' Baronet himself admitted that there
would not he time for the Committee to make any
adequate inquiry this St ssion. At the swLc time
the tinonen arrangements, and the others respect-
ing the currency alluded to by the Hon. Baronet,
were of such a nature as would make it very de-
sirable to suspend the appointment of such a Com-
mittee at present. The expectation of such a
measure would excite alarm and apprehemion.
lie therefore trusted the Hon. Baronet would not
press his motion at present. But being convinc-
ed of its ine-ipediency, he felt it his duty to move
the previous oioestion.
After a few words from Mr. Grenfell and Sir
H. Parnell, the motion Was withdrawn.

Lord A. HAMILTON rose to ask a question re-
lative to the Jury Court of Scotland. He wished
to know first, whether thC Commissioners now
sitting to inpvire into the Courts of Justice in
Scotland, had power to eictend their inquiries to
the Jury Court ; and- secondly—:(Here the Noble
Lord sunk his voice so as to be inaudible in the
Gallery).
Lord CASTLEREAGEI said he was surprised that
the Noble Lord had not apprised the Learned
Lord (Lord Advocate) of his question, He him-
self was unable to give information un the
subject.
Lord A. HAMILTON then gave notice of a mo-
tion for to-morrow sennight.on the subject.
A 'Message from the. Lords announced their
Lordships' assent to several private Bills,'and re-
quested a Copy of the Report of the Committee
on the Frame Work Knitters' Petitions._

The Messengers were informed that the Report
would be sent.

Mr, BENNET presented a petition from a person
celled Charles Smith, praying that he zbigit be
allowed to prove the existence of gross bithery
among the electors at the Cameltord Election.—
Read and ordered to lie on the table.