The Sun.
London, England, 1842-03-05 00:00:00

BANKS.

The next Order of the Day was the discussion of the pro-
ject of law for the prolongation of the privilege of the Bank of
Rouen.

M. Fould considered the best model to be followed was
that of the actual organisation of the Bank of France, where
the nomination of the Governor and of two Sub-Governors
as vested in the Government. Although the Bank of
Rouen did not demand similar precautions, yet he consi-
sidered it ought to be under the special surveillance of an
agent of the Government, who would prevent its statutes
from being deviated from. With this view, he should give his
support to the article of the Gsvernment, the rejection of
which was proposed by the Committee. The Honourable
Member considered that the capital of the Bank was not pro-
portionate to the operations which the Bill authorised it to
enter into. An augmentation of 500,000 francs, he said, was
not sufficient to carry on discount transactions in seven
places. The Honourable Member then proposed, in discussing
;he statutes, to carry up the capital to five millions. The pro..
fits, he admitted, would have to be divided amongst a greater
number of shareholders, but the operations of the Bank would
be more secure. lie wished the nominal capital of the Bank
to be stated in the law, and not in the statutes. He demanded
• the re-establishment of Art. 3of the project of law, in case
his amendment were not adopted. He then proposed an amend-
ment to the effect that a weekly return of the operations of
the Bank should be made to the Minister of Finance; that the
apital of the Bank should be raised to five million; and that
the Bank should be authorised to discount paper in all towns
where the Bank of France has branch establishments. The
Honourable Deputy also proposed several amendments on the
statute of the Bank of Rouen.

The Chamber then pawed to the di,cussion of the articles
of the Bill.

Art. 1. " The privilege of the Bank of Rouen, constituted
:n virtue of the law of the 24th Germinal, year 2, by the Royal
otdonnances of March 7, 1817, June 7, 1826, and June 14,
1840, is pro!onged to Dea. 31, 1863. "—Adopted.
The fallowing additional paragraph was proposed by the
committee:—

" Nevertheless it may be put an end to or modified on the
31st December, 1835, if thus ordered by a law passed in one of
the two sessions preceding that period."—Adopted.
Al. 'Victor Grandin proposed to place the following between
the first and second articles :

" The departmental Banks, legally created, are authorised to
discount paper payable in ali towns is which similar establish-
ments exist, and to exchange it."
The amendment, sot being seconded, was not put to the vote.
At five o'clock the diseu.sion was adjourned.
SITTING OF MARCH 1.

The Chamber met to-day at the usu .1 hour.
The older of day was the discussion relative to the Bank
of Itouen, but the subject possessed nothing of general interest.
The remainder of the sitting was occuided in the monthly
organisation of the bureaux.

LAW INTELLIGENCE.
HOUSE OF LORDS, Marcie 4.

The Lord Chancellor, Lord Brougham, Lord Campbell, and
the Earl of Redesdale, sat in the House of Lords to-day, to
hear Scotch Appeals.

BALFOUR V. MALCOLM.

The arguments in this part-heard Appeal were resumed and
sioncluded to-day, and
Their Lordships gave judgment, affirming the decision of
the Court below, with costs.