Star.
London, England, 1825-12-17 00:00:00

CONSULTATIONS OF MINISTERS.

The Earl of Liverpool and the Chancellor of the
Exchequer returned to London yesterday morning,
about half-p tst ten o'clock : in the course of the morn-
ing, the Ministers were busily engaged with most of
the Cabinet Ministers in London, and various public
and official Gentlemen. Messengers were dispatched
in different directions, without any cessation, till some
of them %sere quite exhausted. The consultati ins
were held at the houses of the Chancellor of the Ex-
chequer and of the Earl of Liverpool, but principally
of the latter; in fact, the Noble Earl's house was in a
constant state of bustle during the whole day, and pro-
bably a mote important subject never occupied the at-
tention of any Minister, especially under such extra-
ordinary circumvances.
At two o'clock, the Earl of Harrowby, the Lord
President of his MAjesty's Most Honourable Privy
Council, arrived in town in his travelling chariot and
four, having travelled ss ith great speed from his seat
in S affordshire. The Noble Earl, after an interview
with Mr. Secretary Canning for some time, went to
the Earl of Liverpool's house in Whitehall-place. and
joined in the consultation with the Earl of Liverpool,
the Chancellor cf the Exchequer, Viscount Melville,
Mr. Huskisson, and 'Mr. Secretary Peel. Tne Noble
Earl returned from the consultation to Mr. Sectetaty
Canning, at the foreign Office.
At four o'Clock in. the afternoon, a very important.
,meeting to:.k place at the Earl of Liverpool's house,
consisting of the cabinet Ministers most conversant
with Fin ince, viz.
. The Noble Earl, as 'First Lord of the Treasury; the Chancellor.
of dm Exchetpter.' Mr. linskiison, the Secretaries to the Treasury.
M . Hades and Harriiost; hir:4 Secretary Peel, as Secretary
at State for the Mouse Depannseat ; the Governor and Deputy
Governor of the Bank of England ; John Nam, Esq. S. Thorn-
ton, E.q. and'another Bank Dirator ; some of the Conimissioners
for the Reduction of the National beht and S. Ilighani, Esq. Se-
erwtiry and Comptroller-General tothr Commissioners. •
The Meeting continued in deliberation till half-past
tiee o'cli•ck, when Governor, Deputy Governor,
ind -Directors of the Bank, rettoned io the •Bank of
England. The Cabinet Ministers and i,fficial Gentle-
men remained ill consultation till neatly a qu ales past
six o'clock. . •

We nnderstand that the Directnrs of t!•e. Bank of Eng-
land'hare, in addition to the very large supply of specie sent into
the country, issued some One Pound Notes' to take the place of the
small Provincial Notes in districts where the failure of Banks has
o,:curted, being int..tide:d as a temporary measure to relieve the
distress in those districts.

We are desired pnsitiyely to state, that the report
which appeared in a Paper of this morning, of the failure of Messrs.
IL E. and It. Ferree, Bankers, of Cambridge, is entirely without
foundation.
In order to ensure no -e but respectable siulatures to
the resolutions agreed to at the Mansion house on Wednesday,
wily eight Gentlemen are admitted at a time into the room appro..
priated to sign them.
Tar Conteidb of the LITERARY GAZETTE of Satur-
day, 17th December (No. 465), are-.lleviews, with copious Illus-
trations and Analyses of Finlay.m's 'Alission to Siam—(details
respecting the natives, their Burmese policy, and curioassustoms)
—of F.merson's, Predates, and ilumphrey's Accounts of Greece
to the latest period. abridged,• arranged, amd contrasted, so as to
give a Inci, view of its present state—of the Emerald Isle, the first
Iri-h Amnia' Literary Pocket-book.—of King Jamois the First's
Progresses, by Nichols—mil of several less importlint Books—
Under the head of Original Correspondence, the latest Accounts
(:o 31st October) of Captain Clapperton's Expedition in Africa—
and a very interesting Letter from the South of France, describing
a number of unknown Angio-Gallic Coins belonging to the era of
our Henries and Edwards, accompanied by an Engraving of a
remarkable Gold Seal of that period, found near Tours. In Arts
and Sciences, are Hints for Picturesque Domestic Architecture,
by T. F. Hunt; and the Monthly Gardening Report, Ike. In the
branch of " Literature and Learned" are an Epitome of Mr.
Shaton Turner's Paper on the Affinities of Languages, read at the
last meeting of the Royal Society of Literature— University News
—and French Opinion of the leading English Reviews. In the
Pow Arts, Proceedings of the Royal Academy—Notice of Mr.
Sass. School—and Foreign Intelligence. In Poetry, Fragments'
by I. E. L. In Sketches of Society, an Apolegue from the Ger-
man; Dramatic Criticisms,_ Varieties. Literary Novelties_ , Anee.
dotes, Epigrams, &c. &c. &c. The Suasciuseas to the LITIMART
GAZZITI are earnestly requested to complete their Volumes, by
ptocuring suds Numbers u are wanting. as soon as possible.; and
wheelie the arrangements necessary for providing with the New
Yeas. suck addition as may be requisite, the Orders of New Sub-
scribers are solicited to be given to their Newsmen or Booksellers
without delay. Published by W. A. Scalers, 362, (Exeter
'Change), Strand.
Thuri:day last, a most fatal accident occurred upon
the Branifortl Hall estate, near Ipswich, so Major
WHITEFOOED off the 15th Hussars. This Gentleman
was (Int shooting with his friend, HENRY F- RANELYN,
&el. and they were walking within a yard Of each other
in a meadow occupied by Mr. Cozad's:, the Major''
being a little in advance, looking for snipes. Mr. F.
was in the act of supping across some water in the
meadow, when his foot slipping, the gun went off, and
lodged the entire contents in the body of MajorWorra-
FOOND. who expired in about two hours after the acci-
*dent. Sillotsw and Lady WurrEtroonn were witnesses
of the last moments of their lamented son, who, in the
tenderest manner, tried to soothe, the anguish of sus
afflicted patents. Major WHITIPOORD had been 25
years in the 15th Hussars. He wit a Captain at the
battle of Waterloo, where he received a .btillet in his
side, which was sever extracted'. He.obtained Ms Ma-
jority, and in consequence of his, wound retired from
the Regiment, to the general regret of all 'his broth et
Officers.

tiii PakOf STATE 0 THE 110NEi
MARZET.

••••••Or.-

ppears that thiniC
lit:ohm:as tteesszmoicr
v:tiith.
important
owihnitcelitvleeto.w took
Every day of
in the City, but those of yesterday exceed in •ever.--1
all that have preteded them: It
Directors, at their weekly meeting on Thursdaye
to a resolution to introduce again into circulation,
of
sled
nt
tod
oyfe yesterday agy' poundsilto effecet."llA'
on Thursday afternoon, after the Cabinet C 9-
between some of the Bank Directors and bard
L;,
110.11, when it is understood that the • step *lochs.
Directors had previously submitted to his I,otdsii.,
consideration, obtained his full approbation;
reasons assigned for it, on the part of individudlst
are supposed to speak the sentiments of the Director
are the desire they feel of affording full accomm m'
tion to the Country Bankers, who find in many
ca—sei
conveyance of gold i.nto a distant part of the kino•%st
productive of much practical inconvenience. °"'
-e• In ordi
to confine the small notes more effectually to the circ
•
lation in the country, the Director intend, it is said
t,
refuse all applications for them not made on the patio
Country Bankers or• their agents, who must titre b,
letter for whom or for what propose they are requi•e
The notes issued are of the date of the year 1818, hi
have not been previously in circuJazion, being part
the stock in the Bank prepared at the time notes oft',
description were withdrawn, but not wanted for dish
butinn. A few of them, notwithstanding Wit it has bet
raid of their being exclusively reserved for the C gum
IBankers, found their way on the Exchange. Notes
this description, if we recollect right, aete withdrao
from circulation, and sovereigns substituted, in t
spring of the year 1822 ; not as many persons erten
ously suppose, in consequence of any legislative e*
nsent for that purpose, but through- the just, though ter
detet mination of the Bank Directors, who sett kJ.
Vie time to regard with abhorrence the (teem
cut inns for forgery which arose-out Of their citculatil
and to resolve to put an end to theM from oat can,
as soon as an influx of Mold put it in their power. Th,
have consequently never ceased to.possess the pririlej
which belongs to them. in common with the Cyan
&mks to issue small notes, of which they now as;
themselves. No Order in Council, or anything mu
thala their simple ieterminati:m, is necessity for il
purpose. The amount Of iniatl notes Which are at pi
sent in the Bank ready for Circulation, is said not
exceed 500,0001. It is given out, however, that this,
only intended as a temporary measure, and that il
notes are to be called in as soon as the present eximai
shall be got over. Several' post• Chaises started year
day for the country, freighted with this.new species
cargo, andthe post•herses, at least, will feel benetitt
by the change.
We learn, also, as a piece of undoubted infotmatit
that a parcel of sovereigns, equal to 20,000/. suit
yesterday from a Banking•house at Leeds to the fil
in Lombard-streer, with which their account was k
the pant in that district having subsided, and the us
precautions against a run being-considered no Inn
necessary. From other manufacturing towns in Y
shire, ass. regards the restoration of coofidence, rim
accounts were received yesterday. This is said t
the case alit; with respect .to the differeat baking e
blishments of Wentworth and. m whose sixes ream
in circulation,and vice received in payment very read
on account cf an arrangement
.understood lobe in
gress for re-establishing the credit of that firm.
Fitawilliam, it is added, but we do not guarantee
satement, was a I.arsy to the arrangement, and
to become security for, or make advances to the ku
of 150,0001.

FROM THE NEW TIMES.
The utility y of this measure (the issue of °nand'
Pound Cora by'th: Bank of England, for the coy
circulation only) is peat and obvious, but it is
xpediAt for the relief of a transient evil. Thera
abounds in real wealth, but the symbol of vrealth,rt
gives life and activity to thettchanges of.trade,
been to a great degree withdrawn. • Comstous
has caused a eacuum in the circulation of the coon,
and that vacuum must in some manner or other be
up before our internal commerce can be restored t
healthy state, or credit. public and private, can be
established.
The Bank of England always retains large goat
of gold, into which its notes are convertible. Pri
Bankers notes are also convertible into g W, but if
the Bank of England and the Country Bankers al
kept a sovereign in their chests for everyone pound
they issued, their notes would in. fact bat me:est, an'
might a:swell return to the tuttialsied* lad inclbC
use of a Metallic inediurb. •
So long as confidenie •thek' too need
private Banks should keep snub gold; bet to Pro
tion as their credit is shaken, by
.any alarm,
or irrational, in that, proportion are they force•
swuiethhelpreatsviodtshetihreyoWinnusntotbees
whom circula ion, all
representative of value. Thelaient ofWi:Showglinate'dt4
during the whole perital. of alant beccissuing
from its stores, which bar instantly •beeri drained a
from the Metropolis into- the Pertattn. Hitho.
has been enabled to do so with-rot the p •
the article, becauie gold. is actlialtyAilow the
price ; but if theadenutnd wereto be gaudy inert
the pr ice of the Nets' would • of, coorse;rise, net
tthhiats west% ybalilsloisms ewnont could be
sllll9Sti:allein't edlb.piectYlHS:de lateni
bear
tuitously for the Public.
In Yorkshire and Its nulgilthearbeaset;:tbe want'
circulating meditim is'very considerable, the Sal
having withdritsin their 'notes' into so small a t 4
compared with what have lately been -in circula
that great difficulty is felt in procuring sollteiellt"
wages, &c. &c. • In • consequende of this dote
local Notes, a circulating medium is much wage
the issue of the One and Two Pound Bank of Erl
- - .11

Notes is considered to be mcist judicious, as in
more easily cftnveyed to long distances is lege
and at much less'expense. • •
FROM 'MR koala s° CARO:WM&
The announct meat Wan issue of 11. and 0:
the Bank of England, occasioned some surprot,_!
day. The measure is probably the result of oil
munication from the Cabinet to the Directrsof
Bank on Thursday;. for the Beak would vot
on the mere entreaty of the Country Bankerstrit
sons engaged in trade and manufactures, n°l/".1
great measure • without a substitute for dlelcm;
withdrawn horn eircsdation have 'eat"'
of this nature. Thelsketsities of the countfiL"
course, be' the justification, and a case °h it
I serenity tan -ha• cly well. be suf roted, don tihmi,til
now exists. It, before tie late pie sore; the

'4..-,

;n circulation amounted to eighteen Billions, lad if, t •
is probable, by tar the greater part of these notes ham
bees withdrawn, the vacuum could not have heels
instantly filled bp by gold, without leaving London
straitened. As coinage, however expeditious the tiro.
cess, would require a long space of time to supply the
deficiency, the small note issues are the only means by
which the coutury can be relieved from'the most serious
mbarrassmenc.
The panic has how.-in a great measure, subsided, but
the difficulties of 01 toutury. occasioned by so extensive
derangement as that under which we now labour,
cannot of course Ni speedily overcome. Yesterday ex-
hibited a heavy demand 'for money at the Rank, it
having continued iis-Peirchases of Exchequer Bills, and
the &tonne on them experienced a great increase.
It it said the Directors of the Bank of England have
determined to -discontinue their advances on Stock and
other securities. The fact, however, we believe to be, not
that the Directors refused to make advances in this way
generally,-but to cOpfine their advances to such persons ,
only as could shew special reasons for such indulgences;
for it was discoverecrthat-many individuals had availed
themselves of the liberality of the Bank to raise present
supplies of cash, not with ayiew of meeting any pressing
exigency, but for the purpose of carrying it over to the
Stock Exchange, there to take advantage of the fl men-
acing state. of the market, and-to make large profits from
the distresses of the public. In early instance where
the necessity of indulgence was made manifest, we
believe the Directors were as 1-beral as ever. Some
idea may be formed of the immense quantity of gold
coin which has been sent off into the count' y, when we
state that one house alone, and that of minor import.
ance, dispatched no less than ninety thousand sovereigns
to a Provincial Banker, of which thirty thousand only
have been put in Circulation. The remainder awaits
the probability of a future demand. Acc, unts have
a:so been received, of coaches and cArriages of all de•
seriptions actually breaking down u ith the weight of
the specie with *hid] they were loaded. These stale-
!lnnis may he exaggerated, but still they afford a suffi
cient cause for the sca city of cash, whit') must of con-
sequence be felt in the metropolis.
PROM THE MORNING HERALD. • •

The re-action from the country, the necessary result
ol the failuresin town, in the early part of the" vrtek,
has been so severely felt- to ddy, that the demand for
money has exceeded the ordinary resources of the Bank
of England, and a int asure has beeu'reiorted to, which
:at once puts an end to all conjectbie on the line Of
policy that is to be pursued. it is now obvious that it is
the determination to prop up ctcdit at present, and
risk all future consequences; and as the B ink .has not
a sufficiency of gold and silier currency to replace the
country Bank paper withdrawn frocis circulation, and
large notes nut arpsse!ing the, purpose, tbey have had
recourse to the last alternative left: them, of issuing
One and Two Pound Mutes. They are said to have

been imperioutly called frT by a number of the country
Bankers, 'otherwise the most serious Cuissecotnces were*
to be apprehended from the situation in wirich'the ma-.
jlrity of the hofdetx of their, small local notes ale
..plirced,, :The daily issued by the Bank almost
exceeds btlief. It is confidently affirmed that they
'paid •y ester day, in: claim; of one IC:nd anti another, gold
and paper to the amount, of 'five millions *sterling ; the
sovereigns issued are all new," but the Mint is cut able
to supply the demand. . .• ;
PROM Tim iiiritsu-talos:
It is by no means.iii*o.kiihfillrat-tt:irtYinsactions of
yesterday on t4e.Stisck.Eichange, will. be represented
by the alai mists and mischief-nrakers, as R return
r.r the panic 'which appeared to sweep all before
it on Monday, Tiiesday,:ion*WeJriesday, because the
thiosh Fonds werr depressed' in comparison with the
price. the previous day, or, 'more properly speaking,
because they were' under the influence of extensive
fluctuations, which at times !nought them to a low quo-
tation. The tact is, that it is quite impossible that all
the effects of such a storm as that which has just passed
by can instantly cease. The principal cause for the
decline in English Securities yesterday was the heavy
sales that were effected, principally, we understand, for
tr.r purpose of-forwarding money to the country.

PROVINCIAL BANKS.