Star.
London, England, 1821-03-09 00:00:00

LONDON.

FRIDAY, MARCH 9, 1821.
THE FUNDS.
PRICE OF STOCKS THIS DAY AT OHL O.CLOCK
3 per Cent. Cons. 725 A Y 8 %
5 per Cent. Navy 106% 1h
Impel ial I per Cent. 721/
Exchequer Hills ss. 3s. pie.
Consols for Acct. 73 Vs 34 A.

• In consequence of there not being a sufficient num-
ber of Members present last night, the House of
Commons adjourned without doing any business.
The CHANCELLOR of the Excrmouna was to have
brought forward his motion for the more speedy Re-
sumption of Cash Payments, and it is much to be!
regretted that any delay in so important a measure
should have been occasioned by the inability of all
but thirty-five Members out of six hundred and fifty-
eight to attend in their places.
The following will be found, we believe, to be a
pretty accurate explanation of the measure which
the CHANCELLOR of the EXCHEQUER has in con-,
:
By the last Bank Restriction Act (the 59th Geo. 111. c. 49,
sec. 8), it was provided, that the Bank might, on the Ist May,
1822, or at any time after, pay of any of their Notes in Cask.—
The object of this provision was, to allow of a partial issue of
Gold to the Public, before the Bank could be called upon to
Make their general payment in Cash, by way of preparation, and
with a view to the gradually introducing a certain quantity of
Coin into the circulation of the country. It was not intended
that this preparatory and optional payment should have any effect
upon the laws regulating the issues of Country Bankers, or the
other currency of the country. The Country Bankers cannot be
called upon to pay their notes in gold till after the Ist of May,
1823, when the general resumption of Cash Payments by the
Bank is to take place; and they will be allowed to issue their
gel Notes as usual, till the expiration of two years front that
time. The measure proposed by the Outwit-Loa of the Krems-
ones will snake no alteration In any of these respects, except by
placing the Bank on the Ist of May, 1821, exactly in the same
situation as It would have stood on the Ist ot May, 1822. The
law, as affecting all other parties, will be left in precisely its
present situation.
The circumstances which have occasioned the
intended measure are, partly, the unforeseen difficul-
ties which have arisen with respect to the preparation
of the new Bank Note, and partly, that from the
favourable state in which the exchanges have conti-
nued for so considerable a time, the Bank has been
already able to accumulate so large a quantity of
bullion as is not only sufficient to meet any probable
demands fpr the circulation of gold, but to occasion
a serious loss to the Bank, and some general incon-
venience from keeping so large a treasure locked up
from the circulation of this country and of Europe.
Under these circumstances it has been thought ad-
visable to authorise the Bank to call in any propor-
tion of their notes, and to make any payment in cash
which they may think expedient, the option being
entirely left to the Directors, who will have the choice
of paying either in legal coin, or in gold ingots, at
the rate of ES 17s. 101hd. per ounce, for all notes
they may be called upon to discharge.
The CHANCELLOR of the EXCHEQUER will at the
same time propose another sneampe, not immediately