The Sun.
London, England, 1826-02-16 00:00:00

NEW BANKING ACTS.

The measures proposed by Government to pre.
vent the recurrence of the evils under which the
commercial world is now suffering, so far as they
can be traced to the state of the currency, are

(as has repeatedly been mentioned) two in num-
ber--a suppression of the small notes, and an
extension of the basis of banking establishments.
In order that these two measures may pass the
Legislature with the least possible delay, one of
them originates in each house of Parliament, so
that both may be advanced in their stages at the
same time. The small note bill originates in the
House of (;ommons, in consequence of the reso-
lution of Monday ; and the bill for carrying the
other measure into effect has been already intro-
duced into the House of Lords, and printed. As
the latter is of great importance, from the inte-
rests which it effects, and embraces provisions
which cannot be distinctly understood from
the debates of the House, we shall give
an abstract of its contents. The preamble
recites the Act which establishes the privi-
lege of the Bank of England to limit the number
of partners in all other banking establishments in
England to six, and the consent of the Bank to
relax that right, so far as to permit establish-
ments having a greater number of .partners to be
erected within 65 miles of the metropolis. It
then enacts that corporate bodies or partner-
ships, consisting of more than'six in number, may
carry on business as bankers at any place ex-
ceeding 65 miles from London, in like manner
as co-partnerships of less titan six now do, pro-
vided such persona have no establishment as
bankers in London, and that every member of
such corporation be liable for the payment of all
bills or notes issued, or sums borrowed by the cor-
poration to which he belongs. W.o copy the
following provisions, as they stand in the bill,
because they contain regulations which it is of
general interest to know
" Provided always, and be it further enacted, that nothing
in this Act contained shall extend or be construed to extend to
enable or authorize any such corporation, or any persons so
carrying cm the,trade or bpsiness of banters, either by arty
member of or person belonging to any such corporation, or
any person united with others in covenants or partnerships, or
otherwise in such trade or business, or iry any agent or agents,
or any other person or persons on behalf of any such corpora-
tion or persons so carrying on the trade or business of bankers,
to pay, ii,sue, or re-issue, at London, or within 65 miles
thereof any bill or note of such corporation or persons carry-
ing on such trade or business of bankers, which shall be pay-
able to bearer on demand, or payable at any less time than six
months from the borrowing ofthe money therein mentioned, or
any bank post bill ; nor to draw upon any partner, agent, err
other person or persons who may be resident in London, or within
65 miles thereof, any bill of exchange which shall be pay-
able on demand, or which shall be for a less amount than sitt. ;
nor shall any thing in this Act contained extend or be construed
to' extend, to enable, or authorize any such corporations, or per-
sons *0 carrying on such trade or business of bankers, or any
membff or agent, or agents of tiny such corporations or per-
sons, to borrow, owe, or take up in London, or within ti .. miles
thereof, any SUM or sums of money on any bill or promissory
note of any Such corporation or persons, payable on demand,
or at any less time than six months from the borrowing there-
of, or to make or issue tiny, bill or bills of exchange, or pro-
missory rdte, or notes of suchcorporation or persons, contrary
tosthe, provisions of the above recited Act of the 30th and 40th
years of King Oeorge 111., save as provided by this, Act in, that
behalf.
,‘ Provided also, and be it further enacted, tha nothing
itt this Art contained shill extend or be construed to
extend
to pr6udiee, alter, or affect any of the rights, 'powers, or pri-
vileges of the said governor and Company of the Bank of
England,- except ash the said exclusive privilege of the said'
Governor and Company are by this Act specially, altered and
varied.
" And be it further enaCted, that between the 25th day of
March iicany year, and the 2fithday Of March following, an'
account or return shall be made out by the Secretary or some
other officer of every such corporation or copartnership so earrV.
ing (Ai die business of banking under the provisions of this act,'
and shall be signed by such secretary or other officer, and shall
be veilied by the oath of 'such _officer taken before any justice
of the peace (and which oath any Justice of the peace is here.
liy aulhorized and empowered to administer) according to the
fond contained' in the schedule marked A. to this act annexed;
-mid in every such account or return there,shall be set forth the
true oame or firm of such corporation or co-partnership, and
also 'the names and places of abode of all the members of such
corporation, °rot' all partners concerned or engaged in such co-
partnership, as the same respectively appear on the books of
such corporation or co-partnership, and the firm and name
of every bank or banks established or to be eatiblialfed by,
such corporation or co-partnership, each and every Of whord
shall respectively be considered as a public officer of such ear.'
oration or co-partnerrhip, and the title' of office or other de=
seription of every such individttal respectively in the'name of
any one of whom such corporatioo or co-partnership shall sue
and be sued as hereinafter provided, and alad the name of every
Own aull place where any such bills or notes shall be issued by
any wept corpOratiOn or co.:partnership, or by any agent or
agents of any such corporation or co-partnership ; and every
such account or retard Shall be'produeed at the Stamp-office in
London, and WI entry and registry thereof 'shall' be made in a
book or books to be kept fur that purpose at the said Stamp.
office, by sonic person or persons to be appointed for that 'pun.
pose by the Commissioners of StampAuttes.
" Anti be it further enacted, that whenever any entry and re-
gister of the name or firm of any suck corporation or copartner-
ship shall be made at the Stanip-offiee in manner aforesaid, at
any time between the 25th day of Mardi in any year and the
25th day of March following, a certificate of such entry or re-
gistry shall be granted by the said Commissioners of Stamp%
or by some person deputed and authorised by' the said Com-
missioners for that purpose, to the corporation or copartner-
ship by or on whose behalf such entry or registry shall be
made; and such certificate shall be written on vellum, parch-
ment, er paper, in England ; and a separate and distinct
tificate on a separate piece, of vellum, parchment, or paper,
with a separate and distinct Mammalian be granted for and in
respect of every town and place Where any such bill and note
shall be issued by any such corporation or copartnership, or by
any agent or agents for or on account of such corporation or
copartnership ;
and every such certificate shall :specify the
proper firm, style,
title, or name of such corporation or copart-
nership under which such notes are to' be issued, and the
Christian and, surname and place of abode, -and title of office,
Or other description, of the several individuals named respec-
tively as the public officers of suchcorporation or eePartriership
in the 'name of tiny one of whom such corporation or copartner-
ship *hall sue and be .sued ; and every certificate shall be
dated on the day .on which the same shall be granted, and
shall have effect -and continue in force 'from the day of the
date thereof until the 25th day of March following, both in-
clusive, and no longer, and shall be sufficient evident of
file appointment and authority of such public officers respec-
tively.
" Provided also, and he it enacted, that it shill be lawful for
the secretary or other officer of any. such corporation or coPart.
nerahip, as occasion may require from time to time, in the year
ending on the 25tli day of 1 areh,lB2fi, and in any succeeding
year, without obtaining any further certificate Mt such year,
and without payment of any further stamp duty for such yea:,
to make out upon oath, in manner hereinbefore directed, an'ac.
count Or r,turn of the name or names of any new or additional
public officer or public officers, and also the -utile or names of
any person or persons who may have ceased to be members of
such corporation or copartnership ; and also the name or names
Of any person or persons who may have become a memiser or
members of such corporation or. copartnership, either, idaddis
lion to (37 ii: the place or,stead of any former member or mem-
bers, in the form expressed is the schedule hereunto annexed-,
marked let. ; and such accounts or returns shall be front time to •
time jyroduced, and entered or registered at the Stamp-office in Prinred
London, in like m""t-'r hereinbefore requited with respect

IlAtutoW Scnoor.,--The town of harrow hit!.
lately been thrown into the utmost state of cone
sterttation, owing to the sudden disappearance
and unforeseen defalcation of Mr.MAKK Ditca'r)
the second master of the school, and who has
been above 40 years in the Harrow establislyi
ment ; anti also of his son, Mr. JOHN D VA Y 1 an'
other master of the school ; both of whom quilled
the town by night,
leaving enormous debts behind
theta ; hut they have since been arrested, and
are both tit present in prison. Their debts in the
town and neighbourhood of 'ferrety are estimated
at upwards of 40,0001., and the tradespeople of
the tow-ti are almost to an individual more e
less staerers, and many entirely ruined ; there
have been executions in several of the trades'.
people's houses ; the losses to some intlividao,
are said to be Immense—one butcher alone
i 2,700.; a linen-draper, 710001., a great part of
which was money tent.
There are brokers
bills of sales by auction, on the houses of both'
the Drurysi 'The 'prang gentlemen of ti
school under their care, at 'masters„ and of
course residing in houses, ult./riled home,'
to' their friends 'on 'the first disclosure °L
the event ; but Most of them have just again C°l"
back under other. masters. Nlr. Evans has bee"
elected by& aevernors, and has been 66 rung
in," as it is culled, second master of the Sch°ol
in the roomer thwelder• Drury.
The situation of
the tradespeople of Harrow is truly miserahle:
even the servants belonging to the establishment
of the two sDrutys are left with their ~rages
paid. Scarcely allay passes that some
at Harrow is not arrested far debt, or an execsu:
tion put into some house, arising 'out of this I
tressing event. The townspeople now beg:dtll to
wonder hew the Drurys could have obtainede" -;
much Credit, or got so extensively into debt,
they were never supposed to be wealthy ; but their
astonishment comes too late. People are also
sur-
prised how those two persons could have occasion
to get into debt, as the.StipendS of the boy S "de
their Charge were known to he paid pooctunir r
once e- quarter, and they could, t/lerefore, soe,
no loss in that Way. It is new, however, undeo.
Stood (hut for the truth of this I cannot ietic
that both the father and ton lived at a most eX
travagata rate, and played very high at Whist! .•
(Timer.)

COA I. Fri:. I.
Adair's, 33s 6d-Burdonl 33s—Dean's Pritroqe, 315 O."-
Forest Main, 32s— 11 eat0n,35&34,1-11eldntrn Alain, 354 na::
Huly well, .3ls--Killin "t, 3d. 31s 31,3'"'
325--Old Walker. 31s 3tl-71/,•law, 31-.—Percy East. ;-"Ig;
Shipeote, 32a 6d--Townley, 3,6 35s
lam, 34s—Walls End Bell and Qo,3ostid—ll'alls End Bewic .4
and Co. 37i 9d—Walls End 11roCi.n's,
Green's, 323 6d--Wnlls End llolspur, 34s 3(1---Wail' m,
Newmareh, 35s—Walls End Northumberland, 355--VI.,
End Riddell's, 3.5 s 6‘l, 3iis—V,alli End Russell's, 355,
Walls End Met:-.1, 33s—Pelaw 'rntder, Ms—Coy/1251. I.W
Hartley, 32s Oa—Russell's I,yon's Main, 3rts--Walls
br
Eden's, 31s Cd--Walls End Lyon's, 36s _Walls 13rid- Lt.
ton, 40s !id—Walls End Stewarti, 44)5-13u9se11'*
Walls End, Ms tld.—Sl::Ts at market, 744—ShiP$ '"
s.i.—Unsold, 19}.

111 it TBS. 111
On Tuesday, the 14th inst., at 11 ighbary-place, 11111'
foil, of
Or tiutileitltofllai son. in Upper Thn'Tbßugh4tre""t'the
13dY
Frederick J. Prescott, Esq., of daughter. fJ.
On Sunday, the 111th hilt at Liretpcol, the LAY °
Turner, Esq., of a daughter.'

. ItIARECIED. ~,, tit/
On the 7th inst., at St. ti 111
'lawyer-square,. 1,;_.,,4.
Rev, I%lr. Napean, G. P.' Vt-I,;.:Geld, to illiss Charlotte Con",
(laughter of W. Corpe, !Mount-stre2t: ' • • setorla
At Kingston, Surrey, Mr. sauwei ureayes, to LAak
(laughter of the late Rev. tVilliam Jarvis illlyi. :,‘I•". .....---"

DIED, rk6'
On the .26th ult., Richard Mathew s, Esq 4 OM:'
of of
At after a tew days tieorge Otyan,. Pss' es
Great Russell-street, Illoolusbuty-s9uare. -eat c)f
On the Cth Inst., ku(lderay, Ltt !Listings, in the fAth ).7e
her age Mrs. Elizabeth David,on wife of the late Lie°2l"
vidsen,'Esq.

and

.biished tL t:
No. 112‘ Strand. by J.

,it the 8
.itsTAllO,

FrICE