Star.
London, England, 1822-09-20 00:00:00

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V Z N Ar
DANK OF ENGLAND.

kthsterday a- Half-yearly General Court of Pro-_
prietors was held at the Bank of England, for the
purpose of considering a Dividend.
An expectation being very prevalent that other
business of importance would be Introduced, the
Court was crowded to excess at twelve o'clock ; at
that hour the GOVERNOR read the recommendation
of the Court of Directors that a Dividend of 5 per
Cent. he approved by the Proprietors of Bank Stock,
for the half year ending on the 10th of October next,
and he submitted to them a Resolution to that effect,
which.wisaltirnately agreed to.
RORGRRY OF BANE-NOTILS.
Mr. SOLLY thought it of great importance to the'
Public to know, whether any and what, progress had
lately been made in the new plan for the better pre-
vention of forgeries. Was it still on trial, or had it
been abandoned ?
The GOVERNOR replied, that as yet no plan had
been devised which was likely to have the effect of
preventing forgeries: bat it must be ratifying to
know that the Bank had, since the circulation of
gold, fewer forgeries than on any former occasion.
A sh6rt time ago the Bank had all: over England
but one person in confinement on a chirge Of forgery.
The aurriber was at present very few indeed.
Mr. SOLLY said, that the withdrawal of the small
notes; and the substitution of gold coin, must neces-
sarily, by removing the temptation, have diminished
the number of Bani-note forgeries. It was, however,
possible that the concerns of the country might again
compel the Bank, for the public interests, to resort to
anew circulation of small Bank-notes—of course he
did not mean to anticipate such an event ; but it hap-
pened before, and might again occur ; and then it
wound. be a very inconvenient moment for trying that
experiment for the better prevention of forgery, which
at present could be so much better attended to. This
was tbe time for making the trial, and not when a
pee. issue might take place; and be begged to press
for a distinct answer to his question, as the plan so
much talked of had, he understood, been long on trial.
for himself, be confessed he had never been very san-
guise about that plan, but ether plans might be de-
vise(' at all events, the present time was the best
applicable to such a consideration.
Mr. RANDALJACCRON entertained no doubt that
the Court of Directors would prosecute every inquiry,
and take every step which appeared calculated to
prevent forget ies-: but what lie principally rose to
observe upon, was an inference raised by the Honour-
able Proprietor (Mr. Solly) upon an assumption that
the Bank might be again called upon to issue small
notes—an event which that Honourable Proprietor
seemed to anticipate as one of distressing add despe-
rate necessity. Now he (Mr. Jackson), so far from
concurring in that opinion, was one of those who
thought that a fresh issue of the smaller Bank notes
would be a very great accommodation to the Public
—(!pear, hear !).—Su far from anticipating such an
event as one which ought to be considered as indicat-
ing a distressing or desperate necessity, he thought it
t% Quid be hailed by the country at large as a measure
of the greatest commercial convenience—(Hear).—
As the law. stood (and if he was incorrect in his state-
ment of it, the Governor would correct him), the Bank
bad the volition of issuing smaller notes whenever it
appeared to them that the public interests or conve-
nience required such an issue 1.. and he knew that
whenever they determined to resort to such a measure,
it would he received, not as sheaving any distress or ill
management, but as a -manifestation of their desire
to says') the wants of the nation—(liter, hear).—
lle saw no necessity of reminding his hearers of the
calamities which had befallen the Public; owing to
the withdiao al of their small notes. With regard to
the question of their forgeries, undoubtedly they must
fluctuate with the amount and particular nature of
the currency in circulation; but respecting them he
must say this, that he had anticipated the increase of
that species of crime, the moment they had by their
mode of proceeding reduced it to a misdemeanour,
aad only consigned the offender to the enjoyment of
the blasphemous jollity of Newgate, or the still greater
jollity 4,1 Botany Bay. Assisted by the Sect etary for
the Home Department, or in any other quarter, he
still thought that means might be devised, through
which the Bank might again resort to an issue of
small notes with greater safety, and he was sure that
whenever they did to, the convenience, if not abso-
lute necessity of Such a proceeding would be gene-
rally felt—(t/eer).
Mr. Soma, in explanation, said that he had Rem
stated, nor ever meant to state, that such a re-issue
would imply incapacity, distress, or ill management,
either on the part cf the Bank or the country. Antic
wished to urge was the aptitude of the present moment
to make the inquiry toashich he alluded.
A Pnorriwroe begged to express his dissent from
the Hon. and Learned Gentleman's (Mr. Jackson's)
opinion, that a re-issue of small notes would, in the
present situation of the country, be of public advan-
tage. The contrary, in his opinion, would be the
result, for the money market was already overflowing
for want of an adequate employment of capital; and
the evil would necessarily be increased if an issue of
Bank-notes were to augment the amount of money
sr afloat.
Mr. Youxo submitted that this conversation was
quite irregular.
The question was then put upon the usual dividend,
which n as unanimously agreed to, and the Court was
then adjourned.
The dividend warrants were ordered to be made
out on Friday, the 11th of October next.

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