The Sun.
London, England, 1819-05-22 00:00:00

B EPRESENTATION FRONI THE BANK.

The Earl of LAVDERDALE begged t•i put a ques-
tion of very great itnpottaoce to the Noble Lord
at the head cif his Majesty's Government, lie bad
-heard th,it a communication ot the sentrints of
'the Bank bad been made to hi, Majesty's Go.
ve'unntent within two or three days, upon the sub-
ject of the plan about to be considered by the
-House. They were certainly a body that-should
know sornethiog ot tne subject. What he wished
.to learn was, whetlier dt a paper had been pre7
seined to :Ministers And in case of the affiy-
'native, he had an idea of moving forks pro-

_duct ion.
The Earl of LIVERPOOL observed he'had no be

attrition in saying, it was perfectly true he had
that morning received a commonication from the
two Gentlen►en at the head of the Bank Direction,
and they had put into his hands a paper expres-
'sive of the sentiments of the Court of Directors

upon the measures now tinier consideration. The
paper was in the nature of a commnuication made
'by them to his Majestrs principal Ministers.—
They were asked, on delivering the paper, whe-
ther they wished it to be laid before Parliament ?
The Deputation answered they bad not been au-
.thorised to express that wish. They were told,
:that under such a commitnication his 'Majesty's
.111inistrrs should not think themseles justified in.
,withholding the contents of that paper, shonlkr
any requlsition respecting it be made. Whit re-,
spect to !eying the paper before P.rliament, they:
btAted they had no objection to its being so hid..
The Noble Earl added, if the Document were,
mn ed tor, he had no objection to its being laid
before the House.
The 1-!;arl of LAUDSRDALE then formally moved
to that effect. On which

The Noble 'Minister took the Paper from his
pocket and laid it on the table..
• The Document was forthwith read by the
Clerk at the table, and was in substance to the
following effect :
" That ,lie Court, of Directors thought it their
duty to lay before his Majesty's .Ministers its sen-
timews with regard to the measures submitted
tor their consideration. That, in the first place,
MI utcash re for compelling the resumption of
Cash-pavments at the earliest period stated,
would, in its t.ffect, he ruinous. That it must
he obvious that as long as bullion, or
.the juice
of gold, con:inued at the rates stated, no return
to Cash-payments could be effected %%jai advan-
tage to the public. The representation then en-
tered into a calculation with respect to the (litre-

rent
.prices of bullion, at which it was proposed,
' issues should be made, and stated in effect that
to act upon such requisitions in the way proposed,
would be injuritins., if not impracticable. It de-

precated the prepositions also, as far as they went,
to deprive-the Bank of all discretionary power in
many cases ; and the Directors observed that they
ought to he the last persons with respect No whom
any measures likeiy to' have such injurious effects
ow,: lit to he adopted.' They, however, thought
themselves obliged to bear.in mind; that tot only
intcrcsts, but 'those of the .coritmuni..y at
Li e, which was in Su great a meaotre confided
:to their discretion, were likely to he most seri.
oosly affected" in what was proposed. The Pi-
Erctor; could not hut feel and con-eider-the int-
portant situation in which they so often were

plated, by the measures projected by Ms Maies-1
ty's Government, with whom it was so long a 1
reghlar_priticiple to recur. to theist. They telt it
their duty to observe, they were irow called upon
to procure funds for the purposes required, awl
that within a limited period, regulated by the
Mint price of gold. They thought it their duty
thus to state their anxious sentiments to his Ma-
jesty's Ministers irr the—tire-instance.- The. pro-
posed plan would go to place them in, a state
of great uncertainty and risk, and the
,dan-
gerous effects of it, as applicable to the
commercial part of the.community, it was Ito--
possible to foresee. The representation went
on to orrice certain parts of the Report of
their Lordships' Committee with . respect to the
prices of bullion, Wilk the conclusions in which
they di*no! seem to agree;,and it referred to t ain
points laid down, import which they did not consider
themselves responsible. They again deprecated
the proposed destitution with respect to their
long possessed discretionary power, and without
any adequate reasons being assigned for such---a
power in which the best interests of so great a
part ill the community were deeply involved.--
That they had always "taken care to keep their is-
sues is ithin rea so 'table bounds, espeeia 11.,y I
the great extent and arduous nature of the late
war was considered ; and the Paper co tiltriled
observing, that the Directors submitted these im-
portant considerations to his Majesty's Ministers,
to show their. anxious deCire to take evt ry con-
sistent means on their p'art's to obviate- tire evils
which they apprehend ;trust resull'frotir trier pm-
posed measure. "
[For the Official Bank COnninthication itself, see our Fit st
Page.]
The Paper was: immediaely ordered lobe print-
ed for the use of their Lordships.