The Sun.
London, England, 1826-02-08 00:00:00

No. In.

The First Lord of the Treasury and the Chancellor of the
Exchequer have duly considered the Answer of the 20th
instant: •
They cannot but regret that. the Court of Directors should.
have declined to recommend to the COurt of Proprietors the
consideration of the Paper delivered by the First Lord of the
Treasury and the Chancellor of.the Exchequer to the Governor
and Deputy Governor of the Bank, on the 13th instant.
The statement contained in that paper sneers to the First
Lord of the Treasury and Chancellor of .the xchequer so full
andexplicit on all the points to which it relates, that they
have nothing further to add, although they would have been,
as, they still are, ready to answer, as far as poasible, any specific
questions which might be put, for the purpose of " removing
the uncertainty in which the Court of Directors state theMselves
to be with respect to the details of the plan suggested in that
paper."
After all, the simple question for the Bank to consider
whether they arewilling to relinquish their exclusive privilege
as to the number of partners engaged in banking at a certain
distance from the metropolis ?
The First Lord of the Treasury and the Chancellor of the
Exchequer are satisfied that the profits of the Bank would in
no degree be affeefed by their consenting to such'a,proposal.
Convinced of this, and that its adoption by the Bank is as
'important to their own security as to that of the public, it does
not-appear that-the Bank can be equitably entitled to claim
any compensation for the surrender of this privilege of their
charter.
Against any proposition for such compensation the First
Lord of the Treasury, and Chancellor of the Exchequer
formally protest ; but if the Bank should be of opinion that
this concession 'should be accompenied with other conditions,
and that it ought not to be made without them, it is for the
Bank to bring' forward such conditions.
Fife House, 23d January 1826.
No, IV.
At a Court of Directors at the Bank„ Jan. 26, 1826;
The Governor laid before the Court the following Minute of
the. Committee of Treasury ;
Committee of Treasury, 25th January 1826.
The Committee of Treasury having taken into conside.
ration' the paper received • from the First Lord of flue Trea-
sury and the Chancepor °Ville Exchequer,. dated 23d Ja-
nuary 1826, and finding that his Majesty's Ministers perse-
vere .in their desire to propose to restrict immediately the
exclusive privilege of the Bank, as to the number of part.
• trers engaged in banking- to a certain distance from the metro.
polis, and also continue to be of opinion, that Parliament would
not consent to renew the privilege at the expiration of the pe-
riod of their present charter ; finding also, that the proposal by
the Bank, of establishing branch banks, is deemed by his Ma-
jesty's Alinisters inadequate to the wants of thecountry, are of
opinion4hat it would be desirable for this Corporation to propose
as a basis, the Act of the 6th Oeo. 4, c. which states the con-
ditions on which the Bank of Ireland relinquished its exclusive
privilege ; this Corporation 'waiving the question of a pro!oaga-
thin of tune, although the Committee cannot agree in. the
opinion of the First Lord of the Treasury and the Chancellor
of the Exchequer, that they are not making a considerable se-
crifice, adverting especially to the Bank of Ireland remaining
in possession of that privilege five years longer thaPthe Bank
of England. .•
-Itesolved—That the foregoing reeonimendation of- the Com-
mittee of Treasury he agreed to; and that the Governor and
Deputy-Governor be requested to lay it before the First Lord
of the Treasury acid 'the Chancellor of the Exchequer.

No. V.

The First Lord of the Treasury and the ,Chancellor of the
Exchequer have taken into consideration the paper delivered
by the Governor and Deputy Governor of the Bank on the
27th instant.
They, think it right to lose no time in expressing tbeir con.
currence in the proposition which his been sanctioned by the
Court of Directors, as to the exclusive privilege of the Bank of
England, and are willing to agree that the two clauses inserted
in the Irish Act of last year, and referred to in the paper corn.
=ideated by the Governor and Deputy Governor on the 27th
instant, shell be inserted' in the; Bill which will.be necessary to
give effect to the new Oran_ gement. .
The First Lord of the Treasury and the Chancellor of the
Exchequer cannot conclude without adverting to that part of
the paper of the. Bank which respects branches of the Bank of
England. in their paper of the 13th of January the First
Lord of the. Treasury and the Chancellor of the Exchequer
have stated the reasons why they are or-opinion that, under all
the establishment of branches of the
Bank ildnot of itself be sufficient to meet all
ithhee present
e cxiieeEnnLcnigeslaonfd circumstances,i w
the conntry ; but they are . so fair from wish.
leg to discourage the establishment of such branches, that they
are decidedly of opinion, that the formation of them, under
proper regulations, will be highly advantageous both to the
Bank and to the community.
rife House, 28th January, 1821