The Sun.
London, England, 1826-02-10 00:00:00

ABOLITION OF SLAVERS'.

enttons were presented from Newbery. New Sarum, and
some other places, praying the Abolition ofSlavery.
Mr. HUME gave notice, that he would postpone, until
Thursday, the 2lst inst., his motion, relative to Sinecures, and
which had been fixed for Tuesday.
LIGHT nousrs. . . .

Mr. HUME moved for a Return of the several Light-houses
now in the hands of private individuals, whether held by grant
or by lease from the Crown, with an Account of all surns col-
lected as tonnage,' by the possessors. for the last two years, es-
pecially stating the {name of the light-house, the tenure by
which each is held, and the rent.
Also, for a like return, for such light-houses as are not re-
gulated by Act of Parliament,-.Ordered.

COUNTRY BANKS.
Mr. HUME moved, that there be laid before the House an
account of the number of country bankers (issuing bank notes)
who have failed, and been made bankrupts,' since 14116 •
.and
an account of the dividends that have bees paid respectively on
their estates, the amount of debts proved, and the number of
partners in each hank, as far as they can be ascertained. The
flon. Member observed, that his object in moving for these
returns was to shewlen* erroneous the system was on which the
country had acted with respect to country banks, that the actual
loss that had accrued to the public might be seen before any
change was made in it.
A t the suggestion of Mr. P. Orenfell, the lion. Member in.
eluded Scotland in his motion.
Mr. MARL :MAT objected to the right of the House making
any such inquiry. lie considered the private bankers, who had
the misfortune to have failed, to he in the same situation as
other individuals ' • and if the principle was once' established,
that this house should pry into their affairs' an inspection into
the private concerns of all other individuals might us well be
called for. • Surely this House could have no cognizance of
private debts ; and lie trusted. the Chancellor of the I,;xchenuer
would not bind himself to this motion, if his lion. friend
would not himself acquiesce in the impropriety of the measure.
Mr. P. ORENFEIA, said, the reason he had wished Sent.
land to be included in the return was, that the country might
contrast the system practised there with the English systeM, as
when the returns would be produced, it would be *hewn there
were no failures there.

A Member under the gallery La, " Oh, yes! there has
been une."—(r laugh.)

Mr. JOHN SM ITU did not object. to the return moved for,:
because he considered It should not be forgotten that these
country bankers had issued bank notes, which had circulated as
the money of the country, ' They therefore stood in a diffetint
light from other individuals who had the misfortune to hove be-
come bankrupts. With many of these indiyitlunls he could say
he was well acquainted, and whatever their misfortunes were,
he knew them to be possessed of as high principlea of probity
and honour as were tope met with amongst any other class. He
regretted their misfortunes, and he was sorry to observe the
tone, the sweeping one, of censure, with which these men were
now assailed, with others.; by the Noble Lord at the head of the
Government, and his colleague, the Chancellor of the Exche-
quer, in their correspondence with the Governor of the Tianknf
England. That morning. he had read the opinion by thrum put
forth to the public, in that correspondence, to this effect—
" net the country banks had heen the cause of the present
evil, in having lbstered the Wild spirit of speculation recently
afloat in theauountr,y." In this censure • were included nil the
country banks without limitation or reserve. They did not
foster the wild spirit of speculation, and he rose to rosette froth
the imputation the body, of which he had the honour to one,
and to claim for himself, and for many others eireuin-.
staneed, an exemption from a charge thus Cruelly passed upon
them. They were, he would assert. a body of men distin-
guished for their prudence, probity, and imam ; and he would
appeal to the Right Hon. Gentleman (the- Chancellor of the.
Exchequer). whom he knew could so well appreciate those
qualities, if they were not a class undeserving of the impute-
!)—lf it was 'denied, he expected that the Right
Hon. Gentleman would he prepared, on the following night, to
state clearly his gronds for making such a sweeping accusation;
and, at the same time, he would suggest to the Right-
noutable Gentleman, that it would be a good opportunity to
spew to Parliament the impoliey —( ear! )-----the sotind Policy
(Hear, bear!)---which
_actuate% .Ministers In this moment of
consternation and panic, in their directing public attention to
these parties—( Hear I)
The CHANCE LIMI of the EXIIIEWIER could not
• concur in the abjection Honourable stated by the onnureble Member for
' Abingdon (Mr. t laberley). lie dunight, if forts could he given
to Parliatnent, it could not be a • subject, of embarrattainenito
the parties, they having already appeared In the C; axette. Tll6
lionotfrable Member who made the motion would he was sure
have no objection to attend to any suggestion by which any pea-,
bible difficulty or unpleasantness might be obviated ; for in-
stance, in getting time information there would be no nee:llion-
' to state unities or towns. ‘Vith respect to the remarks of the
Honourable Gentleman on the correspondence that had taken
place with the Brink, lie had no possible objection to give every
Ratitdartios to those who have considered themselves inittred
that correspondence. It was certainly not the intention of the No-
ble Lord, or himself', in the teightettt.Ogree. to convey any tin.
worthy imputation against any individual whateVer : far from
it. Their remarks were directed simply imitainutt time system, and
against it system, which any person who heard the expose orate
lionnorable Member for Taunton time other night, must be aft.
listied produced incalculable evils. Even It the terms used
were stronger, they could not be an imputa'fion ageins those
who were possessed of capital and credit ; he thought that every
person possessed of capital and credit might, to a certain.extent,
be said to foster, or encourage, a spirit of speculation, with.
out any imputation being intended against his character. He
hoped the Mouse would believe him, when he said, he would
be ashamed of himself it' the, language used in' that cerrespon.
dence was intended to convey, any imputif!ion against the cha-
racters of individuals, or for any purpose whatever but in repro.
hation of the cOuntry batik system.
Mr. CA TAIRA rr was glad of the explanation that had been
given, for, without it, he could not have underetood flee terms
made use of as applied simply to the blinking system. But,
whatever the Right Hem Gentleman's notions were of the Sys-
tem, he denied that ever it had fostered the spirit of specula.
tion. For, from the circumstances in which--country bankers
issued notes which every body. knew were convertible into
Bank of England pumper or gold, tt was impossible the mischief
could he attributed to them, though be would say, that many
pushed their business Cooler ; anti from the spirit of competi-
tion, to which. all trades were subject, might have occasionally
given issues to persons not trust-worthy. NiThen they did so,
the evil corrected itself. He concurred in the opinion of the
tion Member- for liliddleburst as to their. respectability; and.
when the returns moved for were laid on the table, it would be-
fouls/1 how smell a share they had la producing cite evils under
which the country labours ; other people will be found to have-
bottled paper as well as the'.country bankers. He contended it
was the large quantity of Exchequer. Bills that had done all the.
mischieft'antl which, he feared, was not yet over, notwithstand-
ing the confidence with which Ministers flattered themitelves the
panic in the Market had subsided, and that things were revert--
ng to their accustomed course,
1111.)44.`,Y said, as the subject would be amply dis-

cussed on the following night, he would defer going into some
details which he intended to submit to the House respecting
the country banking system. He, however, would confidently
assert, though country bankers were charged with fostering the
spirit of speculation throughout the country, they were the only
persons who did not specullitein the past year.
•Mr. H. GURNEY said, that the country bankers were in-
terested in preventing unreasonable speculations. The system
of Scotch banks was, in his opinion, more calculated to facili-
tate such speculations than that which prevailed in this country,
and be was quite convinced that if the Scotch method of bank.
'lug were introduced into this country, the result would Ise that-
a much greater number of these speculations would be entered
into than were found at gesent to prevail. In 1812, a depre-
ciatibn of the currency, to the atnount of 35 per cent., had taken
place, which each successive
.year had been pressing upon the
shoulders of the people in various ways, and unless a paper cir-
culation could be kept up to meet it, it was impossible to fore-
tell the consequences. if the prices were,to be kept up, it was
impossible to do with a paper circulation ; and as he might not
have another opportunity of expressing his sentiments upon this
subject, he could not help forewarning those who were interest-
ed in the commerce and agriculture of the country, of tile evil
which must be the consequence of a departure from the present
system.
Mr. ROBERTSON eulogized the system of banking in
Scotland, which, in his opinion, had raised that country to her
Present state of prosperity. If the Ministers persisted in their
determination to withdraw the one and two pound notes in
culation, the misfortunes of the country would be aggravated
tenfold. He felt astonished at the apathy with which the coun-
try in general, and the country gentlemen in particular, looked
on at the present crisis. lie could assure them, however, that
the storm had not passed away, and would soon burst with fury
on their own heads.

Mr. TUMNEY wished to put a question to the Right Hon.
Gentleman (the Chancellor of the Exchequer) with referenee to.
the correspondence which had passed between Ministers and
the Bank of England. In a part of that correspondence it was
stated, that a proposition had been made upen the part of the
Bank (as we understood the Right lion. Gentleman) to esta-
blish branch banks. Ile was desirous to know, when the Bank
had made such a proposition I
The CHANCELLOR of the EXCHEQUER said, that no
specific proposition had 'been made on the part of the Bank to
-estalrlish Branch Bunks. The feasibility of such a plan bad
been alluded to in a conversation between the Directors of that
body. 'Lord Liverpool, and hifitelf, but it had been merely
mentioned as an 'alternative by which some of the present evils
might be avoided.
Mr.•TIERNEY said, that there must have been some rnls.
take upon the part of the Bank, as in the correspondence with
the First Lord of the Treasury and the Right Honourable Gen-
tleman, they appeared to allude in' express terms to such a pro-
pwitiou.
Mr. PEARCE' corroborated the statement of the Chancellor
of the Exchequer. The subject had been mentioned accidentally
in the course of conversation ; but no distinct or specific propo-
sition bad been made upon the pal t of the Bank, or that of his
Majesty's GoVerinnent.
The CHANCELLOR of the EXCHEQUER wished to set
hintselfright with respect to an observation which had fallen
front the bon. Membir for' Warchatn, who appeared to think
that he (the Charrtellorof the, Exchequer) had thrown the whole
blame of-the excessive issue of paper, and the consequent dis.
tress, upon the country bankers. If any expression conveying
such an idea had escaped hini, he could only say that' he had
expressed himself very inaccurately, and that such was not his
Meaning. He had, if he was not touch mistaken, declared in
precise terms, that the late distresses were not attributable to
the country-banks, but.arose front those speculations incident to
all commercial countries, where persons were naturally anxious
to take advantage of every apparently feakeable mode of employ-
ing their capital to advantage. Ile had with a view of chewing
that such distresses were 'not to be considered as necessarily
permanent in their duration, referred to the year 1019, when a
period of great distress was sueeeeded.by one of equally great
prosperity.—The motion_was then agmed to. •