The Sun.
London, England, 1826-02-04 00:00:00

re he people of that country, and 'he was sorry to say that the
French set tilt a better example. The Honourable Gentle-
man then contrasted the Speech of his Majesty with that of
-.the French King. The speech of the King of France coin-
mene.el by informing his petyle that he would relieve them
from nineteen millions francs or taxes, and tied ho would con-
shier the interests of every description of his people. Nothing
of this Wild had been set forth in the Speech of ,Majesty the
Ktair of Englund. He believed the Cabit.et walla do all they
eoteld for the: suffering Irish ; yet tit s vas some etrange
tuathin attached to the name of Ireland which preeented
Mini-
from devising any beneticirtl means to relieve it. He had
been tempted :t* rote, because being en Irish Member, he felt
that there would be a stigniu attached to his nante if he did not
epeak about the tee e of his suffering countrymen.
Mr. A ItT said, that he thould be sorry to throw a
damp open arty improvement that could be suggested to pre-
vent a teen neriee of the 'etc embarrassment in the commercial
world. He tegretted that the influence of the remedy suggested
by tile Onvernnient, should be but partial and local, instead of
~e-neral. , He Was in heves that the meesure would not be con-
fined only to the Aletropolis anti sixty-five miler beyond it, but
that it weakd be adopted throughout the kingdom. It was a
very erroueoue idea to suppose thin 'a banking firm, consietine;
of three nersons, W:ts riot SO secup.t. 48 one composed or double'.
that member. Ile found, upon looking over a !let of between
meet) anti :eight '.tandred banking establbilimente, that the ge-
nerelity Of them consisted of three or four gentlemen only to
each firm. If banking houttes could derive uay benefit from
th association of the number allowed bylaw to each bank,
they would very natturally go to the extent of that permission.
But they had found that it was not the number that created an
itleit of wealth, but the respectability of each individual. To
make titt of a Latin phrase, he would add that.—
* 4, Toltes potederentur non numerctour."
He thought that the plan if cots mie:l deed partnership was very
good, where a number of gentleinen associated themselves to-
gether, .and each put in a certain Milli of money to forma cap..tal,'ariti could not he made amenable beyo‘hd that sum. The
consequence was, that each individual composing this partner-
ship kept, au eye upon his neighbour, to sec that he did not go
beyond his de poit in speculating, &e. lie would add one
word tibtatt the landed property of hankers. The landed pro.
perty of those Gentlemen was in general of no use to the cretli-
tens, on account of the intricacy of the law.
Sir THOMAS LETHBRIDGE had heard with great
satisfaction that part of his Majesty's Speech, which recom-
mended the adoption of some means to alleviate those pecu-
niary embarrassineote which had been so generally felt. Ile
could not,however, completely coincide with the Ilon. Gentle-
man who bad been n earnest about the Corn Laws. It would
have ben very premature for 31 ini*ters to have attempted the
amendmene et' the Corn Laws without doing something to
relieve the embarrassment of the currency. lie had questioned
It number Of silk throwstera who had settled in the county which
he had had tire honour to represent, as to their option of the
Corn Laws, and they had all to a man declared that they did
not wish fur a change. They were undoubtedly more compe-
tedt to judge of the state of the Corn Laws, as they had felt the
inereAMe at the price of bread. Yet they did nut COMplairh—
. The house had been informed by an lion. Member that the
benefits of free trade hud not yet been tried in the silk trade ;
he entreated the House to peon before they allowed the law on
that stibject to come into full operation. He could inform that
)11. Member that a silk trader of Lyons had offered to deliver
t'lis country, for home consunietion, etey quality of silk, at
the rate of 10 to LS per cent. The lion. Member concluded by
-saying, that he had repeatedly conversed with different persons
on the subject of the absorption of the one and two pound
totes, and they thought that it would be attended with great
inconvenience. He wished to know what they proposed to
supply their place with ? If with gold or silver coin, what
would he the result? In consequenee of the difference of
Foreign Exchange, it would be all swept oil' for exportation.—
He knew very well that they would reissue the notes. That
was very true, but the relict' thus would he only temporary, and
he wished it to be permanent.
Mr. HUAIE protested that he had never heard such a 'speech
as that which had just fatten from the Honourable Baronet.
What connection there could be between the Corn Lawsand the
Currency he was at
a loss to conceive. .As well might the
Honourable Buronet have said that the East Company's mo-
nopoly of tea affected the Currency, as that it was in any way
influenced by preserving to the landed proprietors their mono.
.puly in corn. He could not see the least affinity between the
two subjects. With regard to whet hid fallen troni the Hon.
Baronet, as to the feelingol the manufacturing classes upon the
question of the Corn Laws, he could not believe that such opi-
Mons were shared by the Inds of that body. A few individu-
als might have told the Honourable Baronet this, but the feel-
ing could nut be entertained by the tatty at large. He VMS as-
sured of this by the evidence given before the Committee which
eat opon the Silk Laws. If the Ilouse looked at that evidence,
it would see that the principal Silk Mune facturers declared that
. they had no fear of competition if they were relieved front the
presettre of thetrie laws. Ile could also speck from his own ex-
perience, derived from much intercourse and correspondence 1,
. with the manufacturing interentse he had consulted them
upon this bubject, and they generally said that they had
no fear of competition in plain goods, but that in fancy work,
which was a branch ()leery minor importance, they were not yet
prepared to meet the French market. Ile there:five thought that
..'llnosters were bound not to give up tilt:Trim:4)le of their
••measure, although it might be expedient to extend the period ,
of its operation in respect to a few articles thr one or two years.
Ne,deprec.ited any -delay in extending the same principle to
,the Cern Laws, and trusted that the earliest time would
be seized for securing that &ukelele object, consistent with
a due consideration of the interests of loured property,
which lie by no means wished to see depreesed. He was con-
vinced, however, that the change would be for the ultimate
good of that interest. lie wus sorry the house was so con.'
stituted that the Ministers should be deterred by a certain
influence front bringing forwent a immune which he believed
every one of them cousidered an advantage to the country.—
They were afraid to bring it forwent, because they were afraid
to meet this influence ; and, indeed, is it passed that House,
little could be expierted from the other after the fate of the
Catiada Wheat Bill. At all events, he would have that house
du its duty, and act as became the proper guardians of the
interests of the mass of the people. The lion. Member then
compleined thet the question which lie had on the previous
night put to the Bight lion. PrevitiOst of the Board of Con-
trot had not been tally untie/erect. Ile was sorry to see the in-
tereste of 100,000,00 d of people considered as a mere episode in
the eirdt ',t' the country. He contended that the measures
which lied been resorted to with respect to the Press in 'lndia
were illegal, although the Law' Authorities had declared them
to he otherwise, Ile also denied that the justice of the liurineee
war contil be proved by any documents yetbefore the House, or
within his kr.ewledeve. The Right lion. Gentleman had, indeed
expr,s,td his coin tfdence in the InetiOlit flovernotetit of India,
but he veldt' tisk hint whether that confidence war shared by
the court of Dirt:fOtOrit ? Ile would aid; hint whether they had
net cuttoniniettted to him a contrary feeling ; for it was publicly
3piti tied they had expressed to hint their want of confidence.
The ii.habitturts of the country over which bard Amherst pre.
aided had ho colifitienee in his competency for the duties of his
high °Mee, and this opittion tits every where publicly cx.
prettied. Tile Honourable Member then read unextract Item
the letter of an ()fleer in Calcutta, received that morning by his
Honourable Friend the. :limber l'or Coventry, suiting that the
tioiertitnent was inefficient and imbecile, anti that nothing
could be expected from them. lie had never seen a letter from
Calcutta the the last fourteen months, which did not wind up
in the epate way. 'j'i,ese letters agreed in admitting tlic'anit•
able character of' tic.rti Jttaberit'A private feelines; but litr hint•
self he roust eat( that lie could see no proof of thui in the conduct
of tlic Government towerde the regiments who retUsed to march
at harrackpoor and who were cut down without mercy befort:
Illkatif4 Wert• tallen to induce them to return to their duty, or
C 5 .lain their grounds of complaint.
rity.iim ANT LE nude *erne observations, which were
at first timlerstood him to deprecate the course
.takeit fry the Hon. 'Member for Aberdeen, ie circulatiug these
reports eouteined fal attooyenoos or private letters. Ho could
assure the Hon. 11lember, that every publicietter received from
persons of authority in thaicountry, held out the expectation of
a speedy and prosperoos termination of the war. He was sure
this would not have Veen stated by his Bight. flonoureble
Friend, eensideritig itla etaracter and situation, witliout the
existence of doeutiteots upon which every reliant' could be
placed. The question which had been put by the Honourable'
tlentiemeu, carried its 4)w a answer whit it; toe if the Court of
Directors diet not repose confidence in Lord Amherst'. govern.
ment, they had the pewer ATS111E4;11611 to-morrow. It there.
fore appeared to him that the lion. Member had .been most in.
coneiderate in putting sueli a question to his Bight Honour.
able Friend. Wee it to be cod drat the public conduct of
Lord Amherst was to he decide, itiem on theatithority of these
yivate lettere from India ? Ile should not enter into it question
inch importance in the present thin ',Late of the House, but
tf the lion. Member woad fix Upon any one specific, act and
Teske it a metter of charge, then ids Right Hon. Frieed, and.
.etAidee connected with the tiaverument of India, would be ready
to support that Government, and the army acting under its
threatens.
The wo then brought. up, and read by
Athm e Clerk.
was
Sir C. FOILDES said,that justice to Lord in:nit it
slue to him to irdy that he conld not bo in any way eonnecmte er
d
•with the. Melancholy transaction tO athod, thatieit thethe lion
Hight lion.
. Meb
lips Aberdeen had alluded. He I tust
papers before the House, for they
gentleman would lay the
woad show this to be the fact.
Mith WYNN said,. livedd not know what -connection Lora
1rA,041, couldtobe euppto loin Walt tileertiforthus.hlteod.uactrtialrl
udell to, ritid he thought it prudent t
anY for the proatsht. lid would take that opportu-
.

Oity to say of Lord Amherst, chat there was no foundation
whatever for what had 1411 en from the Honourable Member
opposite -respecting thPt N l i uan. There was nothing more
lameatoble, ;has- the Itti,:ntion given to reports contained in
icossiplitr, letters, the writers of which seemed only taxing
their mgenUtty to see how far the credhlity of their friends
would go, and how inuch some people would swallow,—
(A laugh.)
Mr. 111 %%I E explained, and reiterated his charge as to_ the
;ncomi,tency and ttnpoi.tdarity of Lord Amherst 's Govern-
ment. lie hoped the Right Honourable Uentleman would
lay the fullest information Wore the House, as it was his duty
ti) do, and it it clipeared: from the documents-that he had been
wrong in hk ehakes, he should be very happy to retract.them.
Mr. FL ELM ANT LE said, there was one point upon
• which be would set the lion. Member right, as to the lathent.
able atfiiir at rarrackpoor. Although the: lion. Member had
said no'means had been used to 'bring the regiments back to
their duty before force was resorted to, he could assure him
that communications were kept up with those mutinous regi-
ments up to the Moment of that unfortunate 'and calamitous
.scene--in order to prevent the last resort to force. With 're-
spect to the gossiping idle letters which the lion. Member con.
tutlerti worthy of •AO much attention, he would state one fact
les' to the rumours which-prevailed last year, suiting the army
to he incapable of action front disease. At the very tune when
the 311th, King's Regiment, was representid as not having one
an that Could be brought under arms, 300 were upon active:
duty at Rangoon. _ • ,
• Mr. Il um's: explained.
The Address was then agreed, and ordered to be presented
by' the Members of his Majesty's Privy Council.
Mr. W 1 NN said, that if the Hon. Member for Aberdeen
supposed he meant ttiproduce the report of the proceedings at
Barackpoor, he begged to inform him that he had no such in-

tention.
Mr. HUME then gave notice of a motion for their produc-
tion for Tuesday the 23d instant.—The House adjourned to
Monday next.

MEETING at the BANK of ENGLAND.

A very numerous and highly respectable meeting of Pro
prietors of Bank Stock took piece yesterday ut the Bank o
England, for the purpose of receiving an important cemmu
nication from the Directors on the subject of the correspond-
ence which had taken place between them and his Majesty's
Ministers relative to the proposed alteration in the currency of
the country.
At twelve o'clock, the Governor and Deputy-Governor, ac-
companied by several of the Directors, entered the room.
The Gov retie o a opened the business, by informing the Pro-
prietors that they were convened for the purpose of taking into
consideration the important communications which had lately
passed between the Board of Directors and his Majesty's Minn.
ters. In order that they might be in full possession of the
matter to be submitted to their attention, he proposed reading
the correspondence as it had occurred.
The first paper read by the Governor, was a letter addressed
to the Governor and Directors of the )tank, by the First Lord
of. the Treasury anti the Chancellor of the Exchequer, dated
Jan. 13, 18211, and was in substance as follows :
After adverting to the late pecuniary embarrassments of
the country, it proceeded to observe, that, as the panic had
already !subsided, confidence was. nearly restored, and things
began to resume their wonted station, it became the anxious
duty of his Majesty's Ministers to direct their attention to the
means of preventing a recurrence of the evils with which the
country had been afflicted. For this purpose it was declared to
be the (Onion of his Majesty's Ministers that a gold circulation
should be restored as speedily as was consistent with practical
security. His Majesty's Ministers declared their decided opinion
that the difficulties whtich had perplexed the ordinary affairs of
the country, proceeded, it was stated, in the opinion of his Ma-
jesty's Ministers, from the rush spirit of speculation, aided by
the unrestrained issues of the country banks, which had per-
vaded the country. The remedy which offered itself to the
minds of his. Majesty's Ministers, was to shorten the dura-
tion of the Act for permitting the issue of one and two pound
notes till the year 1033, to a limited period of two or three
years. This measure, however, did not appear to be adequate
to meet the difficulty of the case ; ftir, in 1793, when
there were no notes of one and two pounds, a far greater
convulsion had taken place. On that occasion not fewer than
.100 banks failed. In Scotland there had been no failures,
owing to the particular regulations under which the bank-
ing system was carried- on there ; and there could be little
doubt that to the unlimited issue of small notes, much of
the evil was to be traced. . It was much to the credit of the
Bank of Englund that they had always conducted their atliiirs
upon it basis of security to themselves and benefit of the coun-
try. 'roe object of' the Government, to bring the country back
to avid circulation, was to be effected by two modes; one
was, by the Bank. of England establishing. branch banks in
different parts of the country ; and the second was, by the Bank
giving up a portion of their Privileges, which limited the num-
ber of partners in a bank. The Bank, It was thought, could
not establish branch banks to an extent sufficient to answer
the demands-of the country. There remained then the other
plan for their adoption ; and in this. they had the example
of Scotland as a guide. In Englund there were eight or nine
hundred banks, a great number of which were not conduct-
ed upon that principle which could alone ensure the safety
of' the community of their,own. Even in the case of failure,
from circumstances perhaps unavoidable, in those hunks
where a greater degree of caution was practised, al.
though, eventually, the creditor might receive the amount
of Ins debt great suffering and sacrifice of property had
occurred in the mean time. Anti if this were the case
with those which were not open to any particular charge of
misconduct, must be the result where these banking
establishments did not rest upon any solid foundation whatever ?
The banking system of Scotland presented an example of firm.
DUO in • dines of distress which deserved particular attention.
Here, then, were only thirty banks; but they were placed upon
a different basis than those In this country. It' the concerns of
the country could be carried on. without the aid of any other
'establishment than the Bank of England, there would be no
necessity for resorting to the plan of hanks on the principle of
the system practised in Scotland. But this was not the case ;
and in considering the change proposed to be made, to effect
which the Bunk was called upon to lend its aid, ft behoved that
body to reflection the dangers to which It must beexposed by a
derangement such as that lately witnessed. Let the Bank
reflect upon this, and then say, whether it was not desirable,
on its own account, that an amendment in the general system
should be made. The Bank might propose, us they had done
before, un extension of the term of their exclusive privilege
beyond the year 1833 as the price of their concession. With
respect to this it was to be observed, that while on the one
hand the Bank would gain an additional safety, which had
been endangered by the late convulsion, on the other they
Would not lose by an interference with the circulation of their
j n.
notes. It was notorious, that their notes did not circulate
beyond a certain limited space round the metropolis, in any
ran of the country, with the exception only of Lancashire ;
anti with respect to that county some special provision might
be made. So long_as the Country Bunks continued upon their
present footing, difficulty of greater or less extent must accrue
teethe Bank of ithgland upon the exchanges turning against
this country. The' consequence to the Bank of things remain-
ing thus, must be a diminution of their profile, in the accutnu-
lated treasure which. it would always be found necessary to
keep in their coffers, to meet the emergency which a panic
might create. Thus, on the ground of proht anti safety, the
change proposed wits to the benefit of the public. With re.
sheet to tiny fresh privileges, it was distinctly stated that Par-
hament never would consent to any thing of the kind—such
things were now out of fashion. The Bank would still re-
main a chartered Calumny, and the Bankers of the State ;
the public creditor must by law be paid by the Bunk; and so
long as they conducted their Lathes upon those sound principles
which bad Hitherto disiingul.ii•,cd their manag.ement, they would
no doubt contintte to be the centre of circulation and commerce.
In conclusion, the letter stated, that it would afford great
facilities, and be hig;dy advantageous to the country, it the
hank would agree to make the concession proposed,
before
the opening of Parliament.
. In answer to this letter, on- the 20th of January, the Governor
and Directors stated that they had taken into full consideration
the important paper addressed to them by the First Lord at'
the Treasury ami the Chancellor of the Exchequer, and had
resolved, that whatever difference there might be in the views
upon sonic subjects entertained by them and his Majesty's Mi.
-ntitteis, they did not mean, upon this occasion, to oiler any opt-
`Mon of, their own. The paper they regarded as merely decla-
ratory of the grounds upon which hie Majesty's Government
cnntku3ibtlatt:ti uchange fit the system f banking throughout the
thetstpttgtry. Cuutidcnce, in their tics of case
, however, they
eextecnatsupposed by his
Alfßilfe'e Ministers.—With referench to the country circula.
tioat the Bank would not oppose any consideration of personal
- profit to themselves to the real advantage of the nation. With
teference to the particular interests of the Bank, the Directors
could not consent to recommend to the Proprietore any cone
cession of evrivdeges, sanctioned and confirmed by many Acts
of the Legislature.
'three (Lees after this answers was sent the flank received
auother communicetion from Fife-house protesting against the
right of . the llank'to ask any compensati on ; but stating, - that
if conditions were to be proposed, they must be forwarded by
the Bank.
The Bank hereupon reqii;;ed that they should be placed
- upon the saute footing as the blank of Ireland, by the Act •of
Oth Geo. IV. cap,42, which extended the exclusive privileges
of the Bank to it distance of 6 miles from the metropolis.
Tins stipulation was acceded to on the part of (imminent,

and in this shape the matter came before the meeting of Pro-
prietors yesterday.
The Gov nN on then stated, that the Court of Directors had
given the subject their most anxious attention in every branch
'of it. He was instructed to submit a resolution to the effect—
" That the Court of Directors were of opinion that it was ad-
visable to accede to the proposal contained in the above letters,
with the approbation of the Court of Directors."
In answer to queetions put by different Proprietors,the Go-
vernor stated that the present proposal did not go to he extent
of the Bill brought into Parliament in April 1822 ; but that
they had been quite unable to shake the resolution of hie Ma-
jesty's Illinisters upon that point.
111 r. AST ELT. moved, that the Court of Proprietors present
recommend that the •Itesolution submitted to them be carried
into effect. They hid, in his opinion, been called upon to
surrender a portion of their Charter, not to benefit the Pro-
prietors,' but the country.--(lieer, bear, hear!).--At the
same time he thought the Governor and Directors had dune
the utmost they could; and, under all the circumstances, he
thought it only remained for them to comply with the demand
made upon the terms offered. They ought to consider them.
eelvems to be.inditidlials in theconumenityenkviell as. Bank Pro-
prietors, The Directors had fully done their duty to the Proprie-
tors throughout their correspondence with Government, and
they had acted upon the most enhrred and liberal views to.
wards the welfare of the country. We understood hiM to say
that a difference of opinion prevailed between the Directors
and the .Government, on the subject of the late financial
panic, Ministers expressing a belief that that panic was over,
and the Directors thinking the contrary. However this• might
be, he was convinced that mush of the present commercial
embarrassment arose from the extensive circulation of country
bank (paper, and that for the good of all classes, it would be
well to accede to the proposal of 111inisters. The adoption of
the plan proposed by them, would not, he went on to say, at
all affect the responsible and respectable firms already eats.
Wished, and would prove destructive only to those ephemeral
banks which were unworthy of confidence.
Mr. Yo uNa then rose to submit, as an amendment, that in
consequence of the surprise by which the meeting wits taken
On a subject of such vast importance, the papers should be
printed and distributed among the proprietors, allowing a period
of ten days to elapse before they should be called upon to vote
on the resolution. •
To this there wiz a general cry of" No, no !" and the emend.
ment was not persisted in.
Mr. JACKSON wished Government would conform, in their
proposed Bill, to time three points of similarity in the Bank of
Ireland Act. It was scarcely possible they could venture upon,
the establishment of branch banks during the brief remainder'
of their charmer—e( Hear, hear !)—lf Government wished to
have branch banks, they ought to consider the time necessary
to carry their•wish into effect. Charters could only be revoked
for malversation, or because they no longer answered the pur-
pose for which they were granted. In the latter case, when
they could not be forced to concede their privileges fur seven
years, except at the point of the bayonet, they ought not to be
required to do so without compensation.
The GOVERNOR assured the Gentlemen that every argu-
ment had been used In vain with his Majesty's Government to
induce them to agree to an extension of their charter.
Mr. WYNN wished, before offering any observations on the
subject, to be informed whether the Directors were elisposed to
act upon the principle of establishing branch banks.
The GOVERNOR said, he should take an opportunity of al.
lading to that subject before the meeting adjourned. They
would recollect that it had been mentioned only incidentally in
the documents he had read, but the Directors did not enter into
an pledge on the subject.
111 r. WYNN said he felt convinced that the measure con-
templated by Government would have the effect of extending
further the spirit of speculation, from which so many evils were
said to have arisen. He saw no reason why the Bank should
be called upon to open their charter. They had conferred the
greatest advantages on the country, and during the late diffi-
culties, had been the principal means of supporting public
credit. No man would be more ready than himself to give up
a private privilege for a public good; but he could not believe
that it was for the interest of the country to make such experi.
mente on the circulating medium. There was nothing like
equal justice in the measure proposed. The subject was one
that required deliberation, and therefore he should wish to have
further time allowed for considering it.
Mr. RANKLY thought that a further effort should be made.
to have the duration of their charter extended, before they ac-
ceded
to time proposition-of Ministers. They should at least
be placed on the same footing in this respect, as the Bank ot.
Ireland.
Mr. ItAVEN said, he expected that this subject would have
been discueeed at much greater length. It would be danger-
ous end unwise to decide upon a matter of such importance,
without an opportunity being afforded for giving it further con-
sideration. km his part, he was not as yet competent to form
an opinion unit. He had not had time even to read the speeches
in Parliament last night in reference to, the question. it did
not appear to him that any ease had been made out to warrant'
so important is change. They were not aware of the conic.
quences that might result front it, with respect to the circu-
lation of bank pmiluer. There were some parts of the country
In which hardly any other note circulated,—he alluded in
particular to Lancashire. The falling off of their circu.
' lation might be much greater than they were aware of, if
such a measure should be adopted. One of time advantages
expected to result front the change was, that men of landed
property would be induced to enter into banking concerns,
and that time public would thus be more effectually secured
against difficulties similar to those that had lately arisen. Upon
this' he must observe, that those banks were by no means
the most successful, or the best managed, that were In
time hands of landed 'proprietors. If landed property were
alone sufficient to ensure stability, the firm of Wentworth
and Co. of York, would not have fallen under the late diffi-
culties of the money market. The truth was, that in banking
concerns nothing, butt prudence. proper management, and
a knowledge of business, would do, and he very ouch
doubted whether landed proprietors were the persons
most likely to possess them, in the way necessary for cone
ducting banking establishments. He also entertained some
doubts as to the principle of branch banks. The subject at
least required more time for consideration. He had now
beencofor
persons
ears
* partner in the house of Barclay and
very considerable experience in business,
t i rwt yh
uy
had
and they were all of opinion that the proposed change
would not be beneficial. It had been 'observed, that tailors,
cheeeeniongers, or butchers, might become bankers, under the
existing law, if they possessed - only a hundred pounds. The
proposed• scheme would have the same effect. Every mu an
who pleased, and possessed but a little money, might enter
upon the business of a banker. • Lord Liverpool observed,
that the amount of country notes, in 1825, was double that of
1021,1822, or 1023. They heard it frequently announced,
that the trade and commerce of the country was every day
extending itself; and was it oat natural that the circulating
meditim required for such extended transactions should in.
crease in a similar proportion ? The increase of trade was suf-
ficient to account for it, without having recourse to the circum.
stance of rash speculation, which he did sot mean to deny
might have had some effect. The fact was, diet very few
country bankers had failed, but those who, by persons well ac-
quainted with business, were well known not to be fit for the
management of such concerns.--(Hear !)—On these grounds,
he should move that time further consideration of the subject
should
sir rb. ed.:t0:31)4.014n extlEtyo this day fortnight.
tkat the proprietors should not
be called upon to decide so rapidly. They should first be al-
lowed an opportunity of consulting the documents which had
been read by the Chairman.
Mr. PAYNE deprecated any such experiment as that propos.
ed. It was one which had suggested itself merely in a time of
difficulty. -The country was deeply indebted to the Directors
for their prudent conduct under the late embarrassments in
time money-market." They increased their issues only when dr.
ctunstances required it; and they readily acquiesced in extra-
ordinery tnemieures, when the state of the country rendered
them advisable. On no former occasion, that he recollected,
had they acted with more .prudence and propriety. What he
looked to was the necessity of the measure now proposed ; and,
as he before stated, it appeared to him only an experiment that
suggested itself. under the late difficulties.
Mr. InvlN ci Ileprecated any
delay upon this occasion. It
was netessary that whatever was to be done, should be done
quickly. Time question was not one that admitted ot' procrasti-
nation. Until they decided one way or the other, 111inisters
could not proceed with the measures they had in contemplation.
Mr. IlevEN expressed his determination to call for a ballot.
'rime GOVERNOR said it was competent to him to do so on
the original motion, but not on the amendment.
Mr. ELLICE, 111. P., said that any delay must prove highly
inconvenient in the present state of the pecuniary affair* of the
countty. It should be recollected; that even after the Proprie-
tors should agree to this proposition, much time must elapse
before the measure contemplated by the Government could be,
brought into
operation. The great question, indeed time only
one at present was, whether they would allow of an extension
of their Cherter,
or were determined to adhere strictly to it.....
If the came to the latter resolution, the consequence might per.
hap% be, that when they came to ask for a reaewal, they would
deprive themselves of the advantages which they might derive
front conceding
eler tdoebnietoterivnedafroWmbeit."
that had fallen front his Hon. Friend (Mr. Baven)e but still he
thought thee,
fiefswie lo to
great tl e Bank, what
be:
benefit
itwilwamwsheaistkpbecteed. He concurred in much
ought to give up what was not very deeply hence
Mr. You NG again pressed time necessity of further adjourn-
ing the question.
He did not think that the measure proposed
could benefit the country—quite time contrary.
Mr. lt. JACKSON again pressed his former suggestion of ex.

tending the Company's Charter five years longer. It was
said that the Bank of Ireland had given 500,0001. for the ex-
tension of their Charter. But he would ask, did they propose
to give nothing ? Were they not, in fact, making a sacrifice
of seven years of their chartered rights for it.. This was a
point which ought to be strongly pressed by the Directors.
When Government found that-it was the unanimous sense of I
the proprietors, they would,* had no doubt, concur in it.
A PROPRIETOR, whose name we could not learn, said it
must prove highly inconvenient Wan idea should go abroad that
any difference existed betwee*the GoVernment and the Bank. It;
This would necessarily he the consequence, -if they agreed to
the proposed delay.
Mr. B. Slimy supported the original proposition. It would
not follow from their agreeing to-it, that the proposed system of
banking would be carried into operation. He much doubted
whether that part which related to the establishment of Joint
Stock Companies would be acted upon. He did not wish to let
it go forth uncontradicted, that the late difficulties in the money
market were attributable solely to the cause assigned by Minis-
ters. There were other causes mixed up with it, and one which
ought not to be overlooked, was the unusually large imports that
had taken place.—(Crles of question.)—He would not trespass
longer on their attention, but he could not, upon an occasion
like the present, omit making. these few observations.
Mr. Matra. opposed again any further delay. Ministers
could do nothing in the business until such time as the pro-
prietors same to a determination on it. As lie understood the
thing, the establishment of Joint Stock Companies was not
contemplated, but any number of persons, 10 or 12, might
unite in the formation of a banking establishment,' and the
whole of the property was to be answerable. The Directors had
omitted nothing that could be done to obtain a further exten-
sion of their privileges for live years.
The amendment of Mr. Baven, for further' adjourning the
discussion, was then put and negatived. There were but very
few hands held up in support of it.
Mr. It. JACKSON then proposed, by way of addition to the
original proposition an amendment, which went to declare
that equity and justice, in the opinion of the Proprietors, re-
quired a further extension of their charter for.s years, as in the
case of the Bank of Ireland.
Mr. S. DixoN, and Mr. Onntrirm., M.P., supported the
original resolution, and recommended to Mr. Jackson to with-
draw his amendment. With this recommendation, the Hon.

Proprietor refused to comply.
The amendment was put and negatived, and the original
Resolution carded almost unanimously,
Before the discusasion closed, the Governor intimated that
the Directors concurred in the principle of establishing Branch
Banks in connection with the Bank of Englund.