The Sun.
London, England, 1826-03-01 00:00:00

Order of the Day for receiving the- Report of the Committee
on the Promissory Notes Bill.
Mr. J. SMITH said, that two very strange and inconsistent
charges were urged against bankers. In the first place, it was
objected that they had issued paper to too large an amount, and
next, it was alleged that they had paid off their issues too soon.
Notwithstanding the latter complaint, the Hon. Member for
Aberdeen was desirous that the bankers should be hound to pay
all within a single week. These objections he conceived were
very unfairly advanced against a body of Gentleman who had
rendered important service to the country. In a conversation
with one of them he had been asked who it was that wrote the
letter which contained the communication between Government
and the Bank. He could not indeed say who wrote it ; but as
there was no species of evidence more marked than the internal
evidence of writing, he could venture to pronounce who did not
write it. It was not, he felt assured, the production of the
Right Hon. Secretary for Foreign Affairs. The nation, fa-
Inner with the language and style—Europe, well acquainted
with the character—of the Right lion. Gentleman, would
readily perceive that there was no analogy between his comp-
' sition and that of the letter in question. Perhaps not one of
the Right Hon. Gentlemen opposite had any share in it. One
observation of an Hon. Gentleman (Mr. Hume) was highly
deserving of attention—namely, that bankers' notes should be
tnade payable on the spot. It was said that, in the inland
counties, notes were usually payable in London. Now this was
MK the case in any of the instances with which he was acquaint-
ed; but if a single instance could be shewn to exist in which a
country note was payable only in London, he would be most
happy that the law should put an end to the practice.—He
would recommend to the consideration of the Attorney General
the expediency of suspetiding the operation of the Act 17 Geo.
111. as many persons would probably be severely injured
merely from their ignorance of the real state of the law_Had
the matter been submitted to a Committee all through, he he-
lieved that a Neasure would have been resolved upon, to which
no possible objection could be taken.
Mr. ATTWOOD alluded to the fact, that at Stratford-on-
Avon, and in another town the notes were payable in London.
Mr. Alderman lIEVIJATE rose to correct a misconstruction
which had been put upon his words. He had been represented
to have said that the country bankers were perfectly satisfied
with the present measure. Any such intimation he had cer-
tainly never given. Ile had said, indeed, that though the
bankers did not conceive the measure fair with regard to them,
yet as Parliament concurred in its enactment, they were willing
to afford all the assistance in their power in order to render it
generally advantageous to the public.
Mr. F. PALMER. was of opinion that the attempt to return
to a metallic currency would produce great distress, particu-
larly in remote country towns. In Cambridgeshire awl Hunt-
ingdonshire he knew that the greatest misery existed. lie
hoped that Government would not be forced to resort to what
was called an amicable adjustment. It would be most unfairly
charged upon him, that lie was an advocate for high prices.
Ile was convinced' that the mitten, of the country did not
arise from the high price of provisio is. It was with great re-
luctance he differed from Ministers, but he felt bound to join
the minority in this instance. Low prices were wanted for the
support of one class, and high prices were required by another.
Yet still there was the greatest want of economy in the admi.
nistration of affairs. Ile would ask were they to pay the irate.
rest of the public debt, and if the public creditor was to be paid
Ivies he not entitled to the value of the money which he lent?
And if the guineas which he gave was worth 28s. one depreciated
in value to 21 was no equivalent return. In 11119, when the
House was unanimous for the resumption of cash payments,
the Hon. Member for Devizes, a Bank Director, advised them
to pause before they finally determined on such an act, and on
the present occasion, when the tame lion. Member was consult-
ed he did not give a decided opinion. Ile spoke with hesitation,
and said, as a reason for the proceeding, that the exchanges
were in our favour ; but he did not intimate his unqualified
concurrence. The Hon. Member was right in the opinion
which he expressed In 1819, and he (Mr. Palmer) thought he
'was f 0 now.

Mr. I%ROOUEN then brought up the report.
The CHANCELLOR of the EXCHEQUER moved two
amendments in the Bill, one for expunging the summary
punishment which it assigned to a violation of its provisions,
and the other for permitting individual► to issue M. promissory
notes.

Mr. J. SMITH thought it severe that poor persons should
be subject to penalties, who, from ignorance of the law, might
happen to draw for the sum of V. lOs.
Mr. JILI3IE desired to know whether a clause would be in-
troduced for the publication of the amount of bank issues. at
<'+ny period of the year.
The CHANCELLOR of the EXCHEQUER would be
happy to introduce the clause, but he was not yet aware
whether it would be possible to frame such a one for the bill.
Sir M. RIDLEY observed that as persons were now fearful
of taking one pound notes, under an impression that the Bill
was designed for Instant operation, it would be of importance
that the Chancellor of the Excheluer should state that the cir-
.culation of small notes was permitted for three years in order
that the fact might become known to the public upon such high
authority, and that their apprehensions might be thereby set at

The CHANCELLOR of the EXCHEQUER had no heal-
tstion in declaring, that though the withdrawing of I/. notes
was postponed for three years, he yet wished it to be gradual ;
and those who returned their notes suddenly to the Banks acted
under a misconception.
The ATTORNEY-GENERAL, in reply to some observa-
tions from Mr..l. Martin, which could not be distinctly heard
en the gallery, said, that by 17th Geo. 111. the currency of pro-
missory notes limier 5/. was prohibited, and that prohibition
could not operate without the provision to which the lion. Gen-
tleman objected, for small paper at long dates would circulate
like notes on demand. But permission was given for notes on
Luna Jfile debts., when certain forms were observed ;—among
(niters, that their dates should not exceed 21 day. The re-
moval of such a provkion would defeat the object of the pre-
sent Bill.

Mr. J. SMITH wished to know how those offenders were to
be treated who'could net pay the penalty of 2tl/. which the Bill
impoied ?
The ATTORNEY-GENERAL replied that the fine was
to be recovered, not by simmary process, but as penalties were
recovered by the Stamp Office, where there was a power Of
oatigation in ouch cases as were deserving of it ; and the results
were such as at once to enforce obedience to the law, and to
avoid all undue harithness in its operations.
The amendments were then put and agreed to.
On the question being put that the amendments be engrossed,
alr. DENMAN expressed-a hope that they would he print-
ed: He looked upon the measure as an interference with the
pemcaples of free trade, lend the dealings between man and
num. One clause in the Dill amounted, he thought, to a repeal
of the Act itself. Ile alluded to the further issue of national
notes, which so much facilitated forgery, that he hoped the
Attorney General would bring in a Bill to mitigate the punish.
went of that crime.
The Report was Then received, and the Bill ordered to be
rimed, and to be rend a third time on Thursday next.
Ilr. lIUME repented his former observation with respect to
ampetblication of the amount of bank issues.
me Irish Lunatic Asylum Bill was read a second time, and
ordeed to be committed.
, Tie Scotch Special Jury Bill was read a first time, and or..
•tietet to be printed. To be read a third time on the 6th March.
House Ajourned at ELEVEN O'CLOCK.

C(MMON COUNCIL. --Yesterday, the Lotto
MAYtn held a Common Council, at Guildhall, in pursuance
<if a re►uisitton, to consider the expediency of petitioning both
liouset of Parliament, praying that they will be pleased to
instltatt a rigid inquiry into the formation of the various
joint-stcek companies, and the conduct and proceedings of
the directors, managers, and officers, and the Appropriation and
the sale of shares, and to adopt such measures as they may
deem necessary for the correction and prevention of such evil ;
and sundry resolutions being proposed thereon, were discussed
at considerable length, and ultimately negatived.

DIIEADniL SUICIDE.-Yesterday afternoon an
Inquest was held at the Lemon Tree public.
house, in the Ilayrmarket, on the body of a
gentleman, ‘vho shot himself at Mr. Wcull's
Hotel, in Piccadilly. The head of the deceased
was blown to atoms. A card was produced, on
which was written, " My friends are forgetting
me, and 1 have committed no crimes to deserve
it, us God can witness." The Jury, after hear-
ing the ebidence, returned a verdict of-44 Tem-
porary mental derangement."

We regret to hear that the unfortunate acci-
dent which occurred to Captain NV ALM:GRAVE,
while shooting with his Royal Highness the
Duko of.CLOUCESTRIt, is likely to prove of a
more eettous nature than has been anticipated.
The sight. of One eye is, it is feared lost for ever.