The Sun.
London, England, 1828-03-13 00:00:00

MALT ACT.

Mr. CAMPBELL presented a petition from Argyle,
against the Malt Act.
Mr. MABERLY presented a similar petitio❑ from
Abingdon.
Col. DAVIES presented a similar petition from Per-
shore, Worcestershire.
Mr. HUME moved for an account of the quantity of
goods exported to the East Indies, from Great Britain,
within the last five years. Also an account of the imports
from the East Indies, and of the number of ships and their
tonnage which cleared out for the East Indies, within five
years, ending sth Jan., 1828.—Ordered.
Mr. DENISON presented a petition from the Malt-
sters of Guildford, Surrey, against the Malt Act.
Mr. D. W. HAIIVEY presented a petition from Essex
for the repeal of tha Corporation and Test Acts.
The Hon. Member also presented petitions from the
tradesmen of Daintry, for the repeal of the Stamp Duty
on receipts, and for the repeal of the Malt Act.
Lord E. SOMERSET presented a petition from the
Archdcacomy of Gloucester against any further concessions
to the Roman Catholics. Ordered to be printed.
Mr. DALY presented petitions from the county of Gal-
way against the Vestry Bill, and in favour of the Catholic
Claims.
Sir H. PARNELL presented petitions from several pa-
rishes in the King's County, for the repeal of the Land-
lord and Tenants Bill.
Mr. MANNING moved Mr returns connected with
Slavery in the East Indies.—OrderoL
Mr. WOOLRYCHE WHITAIORE gloved that the fur-
ther consideration of the Salmon Fisheries Bill, slionld be
postponed until to-morron•.—Agreed to.
O❑ the motion of Mr. DAWSON, the Annual Duties
Pension Bill was read a second time.
The Annual Indemnity Bill was also read a second time.
Mr. DANtSON moved that the House should resolve
itself into a Committee of Supply on Friday next.

INSOLVENTS IN INDIA.
Mr. HUME wished to put a question to the Noble
Lord at the head of the Board of Controul, respecting In-
wiwito in India. There was some doubt whether the
law existing- in this country, extended to India, and an in-
quiry had been promised.
Lord ASHLEY. said the subject was under inquiry, and
he would be happy to give sonic explanation on a future
oseasion.

a week. But the following document Wijl show the true
state of the account between the Government and the
Savings Banks :--

An Account of the Gross Amount of all Sums Received
thA Paid by the Commissioners for the Reduction of the
National Debt, on account of Banks for saVings
eluding Friendly Societies) io Great Britain and Ireland,
in pursuance of the Acts 57 Geo. 111. c. 105 and 130,
from their ebtnhlencennent at 6th August, IM7, to th,.
6th .an. 1828 (as per Par. P., Nog. 160 of 1617, and
36 of MS).

G -„,
wiz
'
OTr-
t23
;2v:
;31
'tt

=,A4
.4r4;

"'s ll.' 7._

E+ •
c
<d L'

o o -e,

V
..../. t. 1, .e.
--.
P. I• 4 1..1

•f. Ot CI rea

- .
t-• CT, Cii 4:
e) cr, o c (7,
... ...
N 'r) OD t kr3
r§2 C.l
dt. ""' L.l

.n 6 _

„; v 7 Ct

M (t .-• .14
.4! .4. t-- •-..

t- Cn

.4. if;
.....

nr 41.

tn 4.1
c/ an
71 al
ri .1i

V) ;

,*5 :

c-
i-

O
4? VD •ir re)
0 -}.

-i 0 0
0 0
0: -...
.1 -.4.
fn 1-7.
4i vi o
cn o
or) C
1.-- ....

2
t.'" "1i E
g
gesc!;.:7,

CA,

Ot CO NIP Cr:

.; - t - t-.
-,

en 0, Ca (:-
i-4.
Cq CC C"..
• •
14 Ci. 'iP t.... 4t,
V 3 en
i: Gei Cn ....
.-4

o "Aiz.
e_o .4"2
76
,
4 ?-;sr:as
2,i5v1;.N.S ay

1.6 co ct 0 -#

Cr)
•-•

CO 0 cn
10 C., CS)
CTJ CE' 0
tei CO re 3
G.? P-1
-37

.
. .
:I :
.§ :
4;": • c:•:. •
..
1.. .1:5 :... ..c.,
al 5 t:o 0
^S
i "El j 7;
0 41 C .+
[.. —1
'8
.n
ri4 2 ',
E-,
,—..."-..........,----....,_...........,
o 3\; 0 o ~,,,1
; 01
e 7 ,:r. 4 : ~i• „.. ----'
2, 1:-.• "0 ' . '-z v) G 0 5 2
p:64 ••:t 4-g; . Tot 4 , s
4 ;2, *.!
, ,c.' 2 _ t Z'' .- . r.% . -.,
,: . 6D
, ~.. 71 ;3 _ ~.,
a., ;" -,.,

•:', -;.;

N. B. The Money has been purchased into Stocks at a
high price, about 89/. per 1001. of 3 per cent. Stock on
the average ; and if the Funds should fall to 691., not im-
probable in event of a war, or panic, the Government
would lose 201. more on every 100/. Stock, or upwards of
three million:, sterling.

He regretted that when he mentioned this subject three
years ago, he did not move for the apppointrnent of
a Committee, or for a repeal of the Act regulating
the rate of interest payable to the depositors. He, having
been one• of those who had assisted in originating those
Saving Banks, remembered that when the Chancellor of
the Exchequer was applied to upon the subject, it was well
understood that the Government was not to pay more in-
terest than they received, and that being the under-
standing, he thought the Act which secured to the
depositors interest at the rate of 41. 11s. 6d. per cent.
ought to be repealed, and that some general regulation ought
to be made as to the rate of deduction made by each
Savings Bank from the interest paid to the depositors.—
In some instances the deduction was half, in some only a
quarter, and in sonic three quarters per cent. ; and the re-
enit of such deductions, which were more than sufficient
to defray the expenses incurred in managing the deposits,
was, that there were large surpluses in the different banks,
with which the holders did not know what to do. The
surplus in the Newcastle Savings' Bank, it appeared, was
at present 4,8017. The Honourable Member also• men-
tioned the Devon and Exeter Bank as another example
of the system on which those concerns were now
managed. lie thought no time should be lost in abat-
ing an evil so prejudicial to the state. Another rea-
son for the interference of the House was this—the
whole of the stock purchased by Government on account
of the Saving Banks was 15,000,000/. which, upon an
average of the last ten years was invested at tie rate of
89 per cent., and as the Government were bound to pay to
the depositors the full amount of their deposits, the conse-
quence of a fall of 10 or 15 per cent. in the public funds,
would be a loss of two or three millions to the public; he
thought the money invested in the Stocks on account
of the Savings Banks ought to be realized, and held by
the Government as unfunded debt, paying to the depositors
the same rate of interest as the proprietors of the unfunded
debt. It would be but justice to the depositors in those
banks to have some regulation introduced for the pur-
pose of preventing any loss which might accrue to
them from the defalcation of any of the actuaries. The
Honourable Member then moved for an account of the
amount of interest placed by the Commissioners for the
reduction of the National Debt to the credit of each
Savings Bank in the United Kingdom during each year,
from the time of the commencement of such Establish-
ments; also an Account of the sums received as In-
terest by the Government, and of the sums paid as inte-
rest by the Depositors on Account of such Deposits, from
liov. 1826, to Nov. 1827; and also an Account of the
expenses of management for each year ; also an abstract,
giving the names of each Savings Bank in the United
Kingdom, the number of depositors of sums not exceeding
201., of sums above 20/., and not exceeding 501, and from
50/. to 1001., from 100/. to 150/., and from 150/. to 2001. ;
also an account showing the amount of surplus in each
bank from Nov. 1826 to Nov. 1827, and the rate of in-
terest per cent., and the amount of bonuses (if any) paid
to depositors since the establishment of each bank.
Mr. DAWSON said he had no objection to the pro-
duction of the Returns moved for, and he admitted the
subject to be one of great importance, and that the evils
arising from it had not been over stated by the Right Hon.
Member (Mr. Hume). The subject was under the conside-
ration of the Chancellor of the Exchequer, and he
had no doubt that in the course of the Session some re-
medy would he applied to the evils described by the Hon.
Member.—The motion, after a few words from Sir M. W.
Ridley, was agreed to.