The Sun.
London, England, 1844-10-29 00:00:00

SCOTCH BANKING.

At• the general meeting of the Edinburgh Mer-
chant Company, held in their Hall on Monday, J.
P. MITCHELL, the Chairman, said he need hardly
advert to the great interest which this subject was
exciting among all classes in Scotland, especially
among the mercantile and trading classes, further than
to say, that that interest and excitement had induced
him, along with deputations representative other public
bodies, to call upon their representative, Mr. B. Macau-
lay, when recently in Edinburgh, and lay before him
all the information in their power with respect to the
working of the present banking system, its perfect
safety, the satisfaction of all classes of society with it,
and their alarm at the prospect of its being in any
way interfered with. Mr. Macaulay certainly heard
the deputation with willingness and attention, but the
feeling which seemed to be uppermost with him was
just this—it seems to be the impression in the minds
of all Englishmen, that gold in the shape of sovereigns
is a good thing to circulate south of the Tweed, and
. they cannot understand why in that case
they should not be an equally good medium of cir-
culation to the north of the Tweed. This statement
would show them what was in the minds ofpublic men ;
it was an index of the general state of feeling among
the leading statesmen ; and Scotchmen—especially
all the Scotch traders and merchants, must make up
their minds to use strong exertions if they would
preserve a continuance of the present system of bank-
: mg, which had wrought so well for all classes and in-
terest in the country, and without any injury what-
. ever. They must join the noblemen and gentlemen
of the counties, and other public bodies who were
now moving to preserve the present system of bank-
ing. It may be all true that the sovereign currency
did well in England, but it could never do in Scot-
. land, where they were so far removed from London,
and where their transactions were generally of a
much smaller kind than in England. He could easily
show that the system would be most expensive, for
, the trading part of the community would have to
boar the expense bf the heavy exchanges between
town and town, and they would be continually in-
volved in a scarcity of the circulating medium. It
was the duty of Scotland to stand up and decide this
question, before anything was done at ell in the way
of preparing an Act of Parliament. If they did so,
the Prime Minister would not run in the face of the
united feelings and sentiments of the whole people.
It was agreed to remit the matter to the Master
• and Assistants with the addition of Mr. Cadell.
Mr. JAMES M'LAaEs wondered that Sir Robert
Peel should have such an extraordinary anxiety about
the stability of Scotch banks—it would be more werth
his attention to look after the banking system of Eng-
land, which had never been in so safe a state that it
should be put forward as an example to this part of
the empire. But what was the evidence that the
Scottish banking system was unsafe ? Could any-
thing be safer? The paper circulation throughout
the whole country by all the banks did not exceed
three or four millions of money. To back that paper
circulation, which was absolutely necessary for the
purposes of commerce, there was a proprietary capital
of twelve millions sterling, which was at all times
liable to make good any deficiencies that could pos-
sibly occur. They were told, notwithstanding the
perfect security and convenience of the present sys-
tem, that Mr. Macaulay seemed to justify interference
with it on the ground, that if a gold currency had
don 3 well in England, it would also do well in Scot-
land. He (Mr. M'Laren) would reverse that senti-
ment, and maintain that England's currency had
never been so safe as Scotland's, and he would draw
from that fact the conclusion, that a gold currency
having always worked ill in Ingland—he meant as
compared with the small note currency of Scotland—
jit would undoubtedly, if introduced into Scotland,
work as ill there as it had done in the south.
Mr. CADELL said, that the country would be
roused from one end to the other to tell Sir Robert
Peel that they would not allow their banking system
to be trifled with. Where was there a shadow of evi-
dence or of reas m for meddling with a system which
all agreed had worked to the satisfaction of all inte-
rests throughout the country ? A Parliamentary
Committee in 1826, in consequence of the strong
opinion then expressed, declared that the system,
having worked so well, it ought not to be meddled
with. hey had had eighteen years further
practieal experience of the working of the
system, and what had occurred since then to
make an alteration necessary in 1844, which,
in 1826, was found to be impolitic and un-
reasonable? If they had learned anything in that
time, it was to value more and more their banking
• system, which had stood safe when that of England
had frequently brought the country into jeopirdy.
He hoped that the company, and all the other public
bodies, would take up firmer ground on this great
question, and adopt the most decided steps to crush
the plasject at its outset.
After some remarks by Mr. M'FARLAN, power was
given to the
.Master and Assistants to watch the pro-
gress of matters, and to co-operate with other bodies.

HURRAH FOR HIGIPBANDED JUSTICE ! —We are
glad to see that the wisdom of our ancestors, as evinced
in the punishment of offenders, whi w
ch, e fea.red, had
fallen into general contempt, continues, in some
favoured nooks of these dominions, to overn the pro-
ceedings of the magistracy. A gloriougs case occurred
at the Banbury Petty Sessions. One John Coggins,
labourer, was charged with an offence against the
game laws. He had been seen, on the morning of
the Ist of September, walking about in a stubble field,
with a gun. William Co yling, one of the Earl of Jersey s
lookers-out, saw him, the rascal I Coggins, to be sure,
had no dog, nor did any gam get up, neither did he
fire ; but witness took his gun away. A stupid jury BRUTALITY.—Mr. Higgs on Thursday resumed the
might have doubted whether he was sparrow shooting or inquest on the body of a woman named Parker, whose
not, or have believed his story, that he was going to husband was in custody, awaiting the result, it being
gu
toard his tato crop. But he had a true English ma- alleged that his brutal violencwards
an, herthe had causeg
trate deal with, who was too deep for the rogue. her death. On a post mortem examin toati surgens
Mr. Matthews said it was painful to him to address gave it as their opinion that this violence, though it had
the prisoner. Of course. Mr. Matthews, says undoubtedly accelerated, had not directly caused, he.
the Times reporter, is a clergyman, as well death. The coroner deeply regretted that on this evi-
as a sportsman ; and we ma excuse the weak- dente it would be useless to commit the prisoner, even
ness, particularly aslir. Matthews, - for manslaughter. The jury declared he was one of the
sibilities, inflicted on the
offender a penalty of ten greatest ruffians they had ever heard of, and returned a
pounds, and said a distress w
declared
should be levied for 1 verdict in accordance with the medical evidence, but
the amount. Coggins
fetch that money. •• Then," said
theh goods would not I also expressed very strongly their feeling of the brutal
committedwould have
(how well a malediction in a lay mouthiust Matthews treatment the poor woman had received from her husband
sounded after the " Then I") " you stand BL.tNDFORD, OCTOBER 22.—A meeting was held
two months' hard labour." Coggins will probably for
1 at the Town Hall, at a very short notice, relative
ruined, with his wife and family, if he has any. This i to a line of railroad proposed to be adopted by the
the way to keep fellows in order. This is the method South-Western Railway Compqny, to bring a branch
from their line to Salisbury, Cranbourne, I,Virnborne,
VI teach people what they are at. Would that our
wundford, Dorchester, and Weymouth. The meeting
'squirearchy had still the making of the laws. Rogues well attended, and the--subject appeared to excite
would soon see what was what. Oh, for the good old much interest. Prospeetuses will
days of the stocks, the pillory, and the gallows ! Alas 1
I further particulars shortly be issued, and
e public,--Sherburne Journal.
they scarcely ever bang anybody now .—Punch.
• .