The Sun.
London, England, 1818-03-27 00:00:00

[P RTCE SEVENPENCE.

connexion with a Savings' Bask ; nay, even a
pi alit ini, ht produce a similar effect, by indming
them to ‘Vithalraw, in Order to realize their
It must also be most satisfactory to depositors to
,be allowed a fixed rate of. interest upon their tie-
.posits. They may then be enabled to eiActd,ee„
with certainty and precision, the advantages which
a Savings' Bank is capable. of 'affording', daring
series of years.
Happily.the conductors of S:.vings' Banks
are now authorised to enter into the
merit's, which ate folly calculated to excite the
confidence of Depositors in such banks, and
to .secure to them the advantages. woieh it is
the design of these Instinitions to is:o-ntv.—
.I'hose conductors may 'pow prinnise, with the
certainty of being able to fulfil their engage-
ments, to retina), at :any .!istance, of time, the
exact sums deposited,
,and to allow, upon those
sums, a fixed rate of interest. The- itoblie
funds are themselves .:made security , fpr tbe
performance of these engagements. -Ace6rdinr,
to the provisions of the wise and .saletary-
telrich confers these iniporlor artealitagett, t‘e'
trustees of any Bank for Sieings, the sante
being' regularly -enrolled. .willythe clerk of she
peace, may pay into the Bank of 1,.:,41•41and any
SLIM or sums of. none}',. noi being less 'has 501.
tit the account of the Commissioner, f,tr the re-
doction'of the national debt, when they become
entitled to receive „from those Commissioners
Delentures to the like amount, free from stamp
duties, and carrying interest at ;berate of toree-
pence per centum per diem, which is 4/. I Is. 3d.
•per centum per annum ; and.thesaid Trustees. or
any two or more of them, may, at any time, de- - .
wand payment-Of the principal sum specified in
any such debenture or debentures, together with
all the interest due thereon ; when they may,
at their option, receive either the princip,l and
interest due, in money—or the interest only
in money, and a new 'debenture for the princi-
pal—or a new debenture both for principal and
interest.
" By this admirable method of abtsilling
bentures for the money deposited in &ivings'
Ranks, which debentures ate, at all times, pay-
able at the Bank of,England, the grantl ohjeet of
these Provident Institutions is accomplished ; by
enabling the industrious and frugal securely to
deposit. their savings, and to withdraw, at -plea-
sure, the exact amount .of their deposits. This,
indeed, is all that is esseoti i to wha: is denonil-
oared a Bank, whieh necessarily nothitig
more titan a place for the vafecastody .mot Capital,
subject, at all times, to the call of the depositoe.
If this were all, an inestimable advaet.ge would
be conferred upon the lower orders, by enabling
them to obtain Government-secni ftur'thß it say-
ings, with a power of.withdrawing,th&whole ,of '
them at pleasure. But, iv addition to this, the
debentures afford theni a most 'liberal rate of inte-
rest upon their capital, secured like manner,
mill aetually.exceeding what. cotshl be obtained
frem-the pnblid fundk. • .
" It is expressly provided that these debentures
shall not be. transferrable., or_assignable, but. that
they shall continue 16 he the set -priqeityOf
the Institution, on the account of tvl.ich they are
originally issued, until they shall'he arc wally paid
off: :They are hereby not only/gUarded against
the, effects of speculation, and preserved front
those fluctuations in point of value to which all,
nmarketa&le commodities are liable„ but they alio
obtain._ security against eery kiwi of risk. Ex-
chequer Bills-and India. Bonds, 'if stolen or lost,
may be sold by thefratultdent or casual possessor.
But these,debentures are eto marketable commo-
ditica,:_They aetinf nc, value except in'the..handL
of the Trustees of the „Insillation to which they •
belong. Paymen't can be obtained upon. them
only by two or more of those Trustees : and, in
cases of lass, the Legislature. has' provided that,
upon good security being given, it shall be law-
ful for the Cominissioners for The reduction of the
National Debt to'grant din,licate debentures, un-
der the same regulations as are
,requited for the
issue of ihe
.original debenture.. Gi eat conve-
uience, also, as well as security, attends the.pre-
scribed mode of obtaining • payment upon these
debentures. . Stock in the Funds, vested in Trus-
tees, can be sold only by the joint act of all the
Trustees, in whose names it is invested ; but any -
two or more of. the 'Trustees of a. Provident
stitotion may obtain payment, of a debenture;
and, of course, no delay, in obtaining such pay-
ment, is occasioned by the absence'or death of
the Trustees by whom it is purchased., Furtlier,
the rate of.interest allowed upon these debentures
being -fixed and_ invariable, the condoctors of
Savings' Banks, after calculating wharportion of
that
~interest will suffice for the expeuces of the
Instkution, may safely promise the remainder to
the depositors. And thus an effectual plan hai
been devised by the wisdom of the,Legislatnre to
enable the .conductors of Savings' Banks ..to re-
turn, at all times, the exact sums lodged in those
-Banks, and to allow the depositors a fixed yateof
interest."

LADY MORGAN'S FRANCE,--A uew'eclition of
this Work has just appeared at Paris as well as
London, It contains some additional observa-
tions in the form cf Notes,
,which are the subject
of general conversation among -the Political Cir-
cles: It is certainly a proof that this 'work pOs-
sesses,from some cause or other, a more than or-
dinary ;degree of: interest, that even in Paris, in
spite of the anger • which, •by the publication of
personal anecdotes; LadysIVIOnGA.N has" so Strongly
excited, it is sought for with the greatest eager-
ness. Independently of its political principles,'
the Work undoubte,dly presents a picture, on (he
whole, as faithful as it is lively,- and furnishes in-
formation which is not lo be 'found in the Jour-
nals of preceding Tourists.., .