Star.
London, England, 1828-09-19 00:00:00

[Paws Szvibinxes.

the Act which passed in that year, and it was enacted
im lieu thereof that any mine of the Ctiert of Proprietors
could call upon the Directors to publish the accouom.
It was most absurd that they should meet and deo
elate a dividend. without knowing the state of the
Company's aecaunts. He had the greatest confideoce
in the Court of Directors, bet be was bold enough to
avow that he dissented from the course they had
adopted of late years, and more particolarly objected to
:he h.sty manner in which the establishment of Blanch
Banks had been decided upon. There were many who
now heard him who had a greater interest in the wel•
fare of the Bank than most of those behind the table,
and it was a matter of importance to all that their in-
terest should be supported; and the measures adopted
of late years had been the cause of the reduction of the
interest on Bank Stock from ten to eight per cent
After a reference to the part the Bank had taken in up-
holding the credit of the country, itc. he concluded b
moving a Resolution, to the effect '
that there be laid
before the Court cf oprietorspn account. showing the
General State, Condition, Debits Credits, and other
Accounts of the Coiupaey, for the last year.
Mr. Smartt seconded the Motion, though the Hon.
'Proprietor bad opposed his. The Hon. and Learned Pro.
priaor appeared equally cognizant of law and finance.
He (Mr. S.) was not equally well-inforesed at the latter
subject. However, there appeared to him to be one essen-
tial reason which rendered the production of accounts
particularly desirable. At present there existed no
check or cootroul on the Bank expenditure in the
hands of the Proprietors; and there was no possi-
bility of availing themselves of the united talent
and wisdom of the holders of stock in reference
the management of their concerns. It might have nc-
caned that in the late war, when there was a very large
expenditure for law prosecutions (say 10.G0aper annum)
something might have been suggested in the wry of
saving. If the affairs of the Bank had been more im-
mediately under the coatroul of the Proper tor*, soars.
body might have hinted that any n,licitor would have
taken the business at a salary of 3,0001. per ioniser,
and thereby a saving of 7,0021. might have been yearly
effected--(Heas). It is possible also (continued the Han.
and Learned Proprietor) that a very large expenditure
made with regard to your buildings—a great many
heavy, unsightly, and expensive ornaments n itlt
which the top of part of this pile is at present
loaded, which contribute as little to the stability as to
the beauty of the edifice--LHear, and lavghter)- I say
it is possible that much of this might have been saved.
I may here say, that the architect who has decorated
your buildings appears to have been determined to
render applicable to himself an epitaph written upon
Sir John Vamburgh—
ii Lie heavy ea Wm, sank he be
Laid many a heavy kind es thee
(Hear, and laughter). In the erection of the edifies
there has been no economy of money or 'materials s the
only economy has been one of taste. These and under
branches of espeaditure are proper objects of investiga.
don ; and in reference to them and the affairs of ,abeCnsm•
pay geeerallytiveshOtild set upon the lith by-law of the
Corporation, at the sates time applying to our concerns
the united talent, intellsgeoce,and wisdom of tbrPropris.
tors at the half yearly Meetings. On the face of our notes
is inscribed, is for the Governor and Company of the Bask
of England ;" but this appears an absolute misnomer ;
it should run this. " for the Governor and D rectors"
laugh)—these elevated individuals, who, in their
Upper House of Convocation, take upon thentsels es to
regulate all the concerns of the establishment. The
Learned Gentleman sat down, after expressing his mite
approbation of the motion, which he concluded by se.
conding.
The Govannon conceived that the 6414 interests of
the Bank of England would be upheld by allowing
things to go on as they had done for tholes, hundred
years. It was a matter of the utmost importance, nit
only to the Proprietors, but to the country at large,
that the system adopted by the Directors, and which
bad so long existed, should not be altered at the pfeseet
moment. It will be remembered that the period will
soon arrive when the Bank Charter will expire; and
the Court of Directors bad the best rearms for ex•
petting its renewal--(Hear, hear, hear). Under Anse
circumstances any change of system would produce
a panic among the commercial interests; and it will
be remembered that, in a short time, another import•
ant measure, affecting the circulating mediums, would
behrought into operation—he alluded to the withdrawal
of country small notes. Perham therefore, at no fat•
mer period might the Bank of England to beaters alive
than at the present moment. The confidence of the
Proprietors had ben given to the Directors; and the
fatter bad rendered essential service without temente,.
don or patronage. He would recommend the Proptie•
ton to do all in their power to maintain the tied* of
the Bank, as upon credit alone were the commercial
transactions of the empire conducted. If the Hos. Pro-
ptietor (Mr. Rickman) was disposed to press his modes,
lie would suggest that, between this day and the next
six months, he might arrange his ideas; and, at all
events, he thought the system at present should not
be disturbed.

Mr.Youna felt the force of the observations made by
the Hon. amitosis, but must at the same time state hi
opinion, that information ought to be given to the Pros
pt ietors ..

Mr. Rion was always disposed to bow to be
opinions of those who had matured their ideas, and from
their situation were better qualified to judge what was
most advisable than himself. He confessed that the
present was an important era in the stein of the Bank,
but it most be recollected that in the neat six months
Parliament would meet, sod be should be laughed at by
his profession, if it was found at their next meeting that
a clause had been introduced into the Bill on Bank Af-
fairs. for preventing the making of any returns what-
ever—(hear, bear). Without a distinct pledge from the
Dirtctors that no such clause should be introduced, be
would press his motiou.

The dovseuort suggested to the Hoe. Proprietor the
expediency of reconsidering his proposition between that
time and the next half yearly Court. The Hon. Mem.
ber might thee be able to come forward with a proper.
sal which would, perhaps, prove acceptable to the Cos•
panm lie bad only 'wed the reasons why, in Isis
opioion, the Hos. Proprietor's resolution could not sow
be adopted. He repeated his recommendation to the
Hon. Gist!ernes to withdraw it for the present, with a
view to Its reproduction on a future occasion. He
dierefote• Dow pot the question of adoereeent,