The Sun.
London, England, 1845-06-17 00:00:00

his country should be remunerated with a pension of 1,5001.
per annum, commencing from the date on whiph Sir Henry
P ottiager was to resign his full pay as . her Majesty's Plenipo-
tentiary. He proposed that that, pension should continue ab-
solutely for life. He proposed to grant this pensi'm as a mark
of public acknowledgment for past services, and though future
events should again render it necessary to employ Sir Henry
Pottiager again in public affairs, he trusted that the feeling of
the country would be that he had sufficiently merited the gra-
titude of his country.
Mr. WILLIAMS had no wish to undervalue the services of
Sir Henry Pottinger, but he must say, that when he looked to
the extent of those services, which were brought to a conclu-
sion creditable to himself and beneficial to his country—when
he looked to the nature of these services, he was willing to go as
far as any Hon. Member in that House, 'but he did not think
that he alone should be remembered, while the services of
others were nearly forgotten. He believed that the naval arid
scientific services of Sir William Parker could not well be ex-
ceeded, and vet that Gallant Admiral had only received a pen-
sion of 3001. per annum ; and this, be it remembered, not for
a particular service, but for the greater portion of fifty years,
the most part of which time he had been at sea. Sir Hugh
Gough, also, the Commander-in-Chief of the army, had not
been pensioned in an equal degree for his public services ; and
it might be established as a dangerous precedent, if every
public servant was to come down to the House, and for the
servicese might have rendered in two years receive a pension
like the esent.
_ . . .

Sir G. ST AUNTO.N, while giving all credit to the service;
of the army and navy, thought that the very important nego-
tiation which had been etf~cted by Sir Henry Pottinger
otrght not to be overlooked, and he certainly did not think
that the degree of gratitude which the Government was dis-
posed to show was disproportioned to his services. He con-
sidered, also, that the appointment of his successor was a
most valuable one, and he, as one Member of that House,
would most willingly support the motion of the Right Hon.
Baronet.

Sir R. PEEL said that the present pension to Sir Henry
Pottinger was not to be looked at as a mere mark of the coun-
try's gratitude for services rendered in China. That gentleman
had left the service of the East India Company, and the special
and peculiar services he had rendered to his country were not
only to be looked to—they had also to look to the loss he had sus-
tained by' being taken out of the East India Company's service.
The Government did not forget the services giithe army and navy,
but these were peculiar serviees, and Mold be equitably
rewarded.

Lord PALMERSTON did not recommend that this vote
should not be a precedent in any similar cases. lie should be
delighted if it were to be considered one, and that it would
lead them to reward in an equally liberal manner services of
similar importance. It had been said by an Hon. Member
that the services of the army and navy had led to the negotia-
tion which resulted in China. He (Lord Palmerston) did not
deny the services of the army and navy, bnt this did not in the
small.ist degree injure the character of those services which Sir
Henry Pottinger had rendered to his country. He entirely
agreed with the Right Hon. Baronet as to the principles which
should regulate the choice of persons for responsible situa-
tions. He knew that it was impossible Ministers could be in-
fluenced by party or personal considerations. It must be the
6bject of ofificial men to appoint to confidential employments
the most able and the fittest persons, without regarding what
might please any individual.—( Hear, hear.) And the Minis-
ters had done themselves great credit by the appointment ofSir
Henry Pottinger. —( Hear, bear.) He would say again that
he frit the greatest pleasure in supporting this grant which
would carry out the decided wish of the House of Commons
who shared the responsibility in this case with the Govern-
ment.—( Hear, hear. )
Mr. HUME said the grant would have the concurrence, not
only of the House of Commons, but of the whole country.—
( Hear, hear.) He believed, from all that he had heard, that
such was the keling of all the leading men in manufacturing
and co.r.m:,rcial concerns—( Hear, hear)—with the single ex-
ception of his 11,m. Friend (Mr. Williams), who said that the
pension might have been avoided. No man had ever been-
more adverse than he (Mr. Hume) to unnecessary pensions.—
( Hear, hear.) But he had never expressed any other opinion
than this, that although he was anxious to take from the Crown
the power of granting prodigal and unmerited pensions, yet he
had always said tint whenever it was proposed to give a pension
to a man who deserved it, he would support,such a grant—
( Ileair, hear)—and such was the present case.—( Hear, hear.)
His Hon. Friend said that Sir Henry Pottinger had done no
more. than his duty, and had received his salary for that duty.
Now he (11r. Hume) would say tlrat if the negotiations had
been frustrated, and the salary had been paid for ten or a
dozen years, the argument would have some force. But the
greatest merit of Sir Fl. Pottinger was that, with such a
people, and under such circumstances, he had brought matters
to a satisfactory and beneficial conclusion so soon.—(Hear,
hear.) He admitted the claim of the naval and military ser-
vices to the highest credit, but he did not think the great
merits of Sir H. Pottinger, who directed all the movements,
were disilaraged by that admission.—( Hear, hear.) And at
the same time he would express his opinion that the pension
ought to date from the day when the treaty was concluded.
After a few words from Mr. WILLIAMS, in explanation,
The quo:Anal that 1,500/. per annum be granted to her Ma-
jesty, for the purpose of bestowing a pension upon Sir Henry
Potting,kir, was agreed to.
The douse then resumed, and the Report was ordered to be
brought up on Thursday next.
IRISH BANKING BILL.

On the order of the day for the third reading of this Bill,
Sir R. PEEL said (as we understood, for the Right Hon.
Baronet spoke the few words in an exceedingly low and indis-
tinct tone)—that the two amendments which had bften intro-
duced into the Bill would, he believed, prove satisfactory.
One of these related to the averages, and the other to the
items.

Mr. SAIITH OTRIEN rose to move the amendment of
which he had given notice. He had already stated his opi-
nions of the measure, and he would not now occupy the House
unnecessarily. He thought that if the Government had aon-
fined itself to antsulling the monopoly of the Bank of Ireland,
and to requiring security of the Banks, the measure would
have been useful, hilt in the circumstances of Ireland to
restrict the circulation would be pernicious. He would not
detain the House by the discussion of the general principles,
but would proceed to move—

" That it shall be lawful for any bank now existing in Ireland,
and which was not a bank of issue oh the 6th day of May, 1844,
to invest in the Government Three-and-a-Quarter per Cent.
Stork, any sum whatsoever, and transfer the same to the Com-
missioners for the Reduction of the National Debt, or such
other persons as the Lords of her Majesty's Treasury by war-
rant under their hands and seals s'eall direct, to accept of such
transfer; and thereupon the said Commissioners for the Re-
duetian of the National Debt, or such other persons, shall
issue a certificate to such bank of the amount of stock so
transferred, and thereupon it shall a"d may be lawful for such
bank to issue their own promissory notes payable to bearer on
demand, to the amount of such stock S 3 transferred : Provided
always, that there shall not be a sum less than fifty thousand
pounds of such stock so transferred at any one time. And be it
enacted, that in the event of the said bank stopping payment, or be-
coming bankrupt, that such stock shall be held in trust for the
persons creditors of the said bank, who shall be holders of the
said promissory notes of the said bank, at the time of such
stoppage of payment or failure : provided always, that the
said bauk shail be entitled to receive the half yearly dividends
payable on the said stock, until stoppage of payment or bank-
ruptcy : provided also. that the said bank shall make returns
of their issues of notes as the several banks of issue in Ireland
shall be bound to make such returns under this Act, and that
in case the issue of such bank shall exceed, at any one time, the
amount of such stock so transferred, that such bank shall be
liable to the same penalties as the several banks of issue,
shall be liable to for their excess of issue under the provisions
of this Act : provided also, that in case of their withdrawal of
their notes to an amount of fifty thousand pounds, or upwards,
from circulation, then on proving the same to the satisfaction of
the said Commissioners or the said persons so to be appointed,
an equal amount of such stock shall be re-transferred to the said
bank."

Mr. O'CDNNELL, in seconding the motion that the
.clause be brought up, thought that he might as weil state at
that opportunity what he had to say on this BR. He was
afraid the Bight Hon. Baronet was mis'aken in supposing that
his two amendments would give satisfaction. There were
thirty or forty branch banks, in which it would be nece sary
to keep specie, and at which to notes would be issued. This
placed the Irish busks in a situation much worse than that of
the Scotch banks, for the latter would be required to have no
more than one sovereign for any note they issued, whereas
The Irish bulks would be required to have four sovereigns for
every note they issued. Let them look to the Report of Lord
Devon's Commission. and they would see that there were
4, A,0,000 persons in Ireland in a state of deep destitution—
without employment, without clothes, without dwellings
impervious to the rain—sleeping without blankets—feeding
upon a scanty supply of potatoes, and having no drink but
water. That was not his statement, hut the statement of the
Earl of Devon. lie believed the Government did not wish
that state of things to continue. He believed they wished to
alter it. But they would not alter it by restricting the circu-
lation and the means of employment. Nobody paid money
to Ireland, but one-fourth of the property of Ireland was ex-
pended to pay the demands upon her. .Now, by limiting the
circulation, the diaailty of payment would be increased.
They ought, therefore, to expand instead of restricting the cir-
ouletion.—( Hear, hear.) In his opinion, and in the opinion
of those who were connected with banking in Ireland, that the
only thing wanted was to put down the monopoly of the bank of
Ireland. It was too late for him now to discuss the
and he had to apologise to the House for
*peaking upon the subject at that hour; which
he did only for the purpose of putting his opinion on
record. The restriction of the currency upon a former occa-
sion had caused as much misery in Ireland almost as the revo-
lution caused in France; and he apprehended much similar
suffering from this new restriction. The abolition of the
thirty-shilling notes would he severely felt, anti would lower
the price of every article. He concluded by seconding the mo-
tion, and thanking the House for its indulgence.
Sir R. PEEL then made a few observations which, from the
'extremely low tone of his voice, were almost perfectly inaudible
in the gallery. He was understood to say that he took a totally
distinct view from the Hon. Gentleman of the principles on
Which this measure was founded. The stability of credit and
the solvency of banks were, in his opinion, things which would
tend to the prosperity of Ireland. He had seen Ireland when
there was no restriction whatever to paper currency ; and he
recollected that the same amount of poverty existed. He had
seen cases of issuing where the reaction led to the failure of
almost every bank. He had seen almost every bank in the west and
south of Ireland reduced to a state which rendered them unable
to discharge their obligations. They ought to secure them-
sielves against temporary excess. As to the security which no-
minal convertibility gave against the excessive issue of paper,
he would not be betrayed into an argum'enti on that matter. He
desired that the banks would issue notes, governed in amount
by the amount of specie which they held, and if such a rule
were
established they would have quite sufficient to prevent
any embarrassment arising. The construction of railways in
Ireland, and the facility
of communication would of course in-
cvease the transfer of His belief was, that if the
bat:ks Irelandasweinresrpfeeceitely. solvent,
. that there would exist
in that country, Scotland, no desire to have gold in ex-
change for paper, provided the stability of that paper was se-
cured by perfect confidence the solvency of the banks. The
lion. Gentleman oppositeAcrd. O'Connell) thought that the
issue of paper oughtrather(tO
Thatepd on the commercial de-
mand than on its own value.r was a difference of prin-
ciple. If his principle prevailed,security
rmi
teya measure would
r not pass—,they had a right to
as far as po.sible, to
couht be turned into gold.
defer to the wishes of the Irish Me-nbd, rs, and he thought that
the institution of four offices instead of one,i and the extension
of thirteen months, wqp.l(l secure to the lou e the general ap-
probation of the measure. He ko"eh eeve coursery
Mr. TRELAWNEY opposed the Bill of the Right Hon.
Baronet, as a system of restriction and interference with per-
fect free trade in banking.

Mr. ROSS did not think it satisfactory that there should be
Tem. places having credit for the amount of gold in the coffers,
and that only two of them should be in the provinces.
Mr. HAW ES said that he thought that one object of the
Right Hon. Baronet was to maintain paper in equal value with
Ecld. Upon that ground he quite connived with him. Another
obet was to restrict the number of joint-stock banks in Ire-
lapd. If they drew an inference from Scotland it would be
the tlerest of Ireland to have local joint-stock banks increased.
tie dick not think that the measure was one calculated to benefit
Ireland, though that was evidently the intention of the Right
!lon. Baronet.
The CH ANCE4LLOR of the EXCHEQUER opposed the
elatue. Solvency would be better secured by not establishing
the powers which were contained in the clause.
Mr. HtIME did not think that the reasons which had been