Star.
London, England, 1828-06-27 00:00:00

itculating medium of the country. Sorely the Mouse
eeeld not remain insensible to such a recommendation—.
it could not permit the country to continue in a situa-
tion liable to the same misfortunes. The Hon. Gentle-
man then proceeded at some length to show Or necessity
of the country making such deposits of capital as would
enable them, in evert of a panic, to call in their notes,
~Dd he els-, conte.ided that the public should at all
ones possess the fuLest information respecting the
affairs of every private banking house. Secrecy with
respect to the currency of the country must always sub-
ject it to the most dangerous fluctuations. Ministers were
going on blind-folded, and seemed disposed to continue
in the same course. But whatever might be their
„,i,bev, the Home should not acquiesce in them; the
House was entitled to information, and was bound to
procure it. It should have all possible knowledge of
tie subject before the question of the renewal of the
Rank Charter came under consideration. It was quite
2n error to suppose that the publicity which he advo-
cated would prove at all injurious to the Country
Bankers. Their real interests, well understood, would
,D Eke end, he felt perfectly convinced, be best promoted,
by the system of publicity, and deposits of capital as a
security against the effects- of panic. He conceived
further, that the privilege of coining—tor it was
virtually that—was a most dangerous privilege with
which to invest Ciuntry Bankers. The power of
expanding or contracting the currency at pleasure,
was what no individual or body of in.iividuats ought
to be invested with. Here he would take occa-
sion to say, that he thought it would be a great ad•
vantage if the Government took into their ,owu hands
the whole of the paper circulation of the country. He
nen proceeded to say, one of the
.objects of his motion
would be to require deposits from Bankers, in order to
giveadequate security to the public. He trusted that no
one would so far mistake him as to suppose that he
meanfto have those deposits remaining uuemployed—
they could be occupied as all other capital was, so far
as that employment could be made consistent with those
deposits, being made available to meet any necessities
'which sudden embarrassments might create. /Ate as
the period of the Session was, be intended to move for
leave to bring in a Bill, requiring periodical returns
from Country Bankers, as in the case of the Bank if
England with respect to one pound notes. The Hon.
Member noticed the cases of the Bank of France, the'
chartered Banks in Scotland, and the Banks of the
United astes, to show that the system of deposits and.
publication of the accounts periodically was practised
with the best effects. In confirmation of his statements
respecting the banking of the United States, he read
the returns recently laid before Congress on the subject.
If Ministers were dealing with their own money it would
be all very well, but they were risking the money of
every man ib the country. He was willing to give the
Bankers time before the .publicity their proceedings
ought to be attended with was required of them, but
six or nine months was the utmost, be thought, aught
to bt given them. AU he wished this Session, then,
witlia view to give them time, was the decision of
Parliament tint publicity should be given to their.
issues. A mixed.currency of gold and paper was that
bar this country could have. There ought to be just
mash gold in the country to answer our sudden foe
reign demand---such as might arise from our having
bad harvest ; as also.enough to satisfy thassi wbA elide
feel alarm at the stability of the paper. As one step to-
wards what be thought proper principles of totohilhgv
be begged to move if for leave to bring in a,. Bill to
compel the Bankers of the United Kingdom, including
the Bank of England, to snake quarterly returns of the
amnunt•of their .

Tbe memo. hewn bon aeconded.aed read,
Mr. H. GURNEY said , that the pon. Member
teemed to have collected 41 that was absurd in every
system of banking he had gee; heard of, fer:the' purpose
of introducing it into England., His,.-objected to this
motion on various grounds, nudshould,recommend the
Hon. Member to withdraw-it. 0., any rate for this Sei- 1
sion.,° • One good reason why he dial Rot think such a
question ought to be agitated jut, pow was, that there...,
vat a °great operation going on in the. substitution of a
metallic eirculationfor the one-ponod notes. The 13ofa
~
Member had alluded to tint:ruin., which bad follows*
the sPeculatifita. of J824.....14 should. only obser4Or
upon that point,deot tbe,fact had,htale to do with the
question before the House,* ootmne booker who then '
stopped payment was sniped by spipolatioits,,but all
by the too easy credit they vi s% nnd chits, not being
able to, call in the assets.they tetolljbad ip time to an.
sver the rain upon than.- The Honottrahlt Gentleman .
bad Confounded .the systm of °English. slut. Scotch
banking, which. were essentially different,
,The Scotch
octet circulated on the security of assets not yet in exis-
tence—on the• security of land, of Ow) properti---
whilst the English paper citculation was op
o
assets actually in the market. He must conclude,
therefore, that the English systeM was safer than that
of Scotland.
Sir C.. COLE said he should stipporttke ion. Mena.:
bet for Aberdeen in his motion, for be bad seen suffi-
cient of the present system to be convinced it was bad.
At the time.of the peace, in 1825, two out of the three
banks in the town of Swansea. in the neighbourhood ad
Which be resided, failed. A Committee
,of. Gentlemen
Was appointed .to investigate their affairs, and one of
them was-concluded to be so solvent as to have thirty
thousand pounds lef. after paying all the claims on them,
'whilst the other was concluded not to be so solvent. A
subscription was raised to the amount of 40,0001. to
support the credit of the first bank. That bank, how-
ever, had not paid since that time above ss. 6d. in the
pound, whilst the other, of which so good an opinion
Was not entertained, had paid 20s, in-, the pound. This
convinced him there was wine mystification in the
manner in which , the bankers of England kept their
accounts, which it would be good to expose to the
public view.
11
The CHANCELLOR of the EXCHEQUER did not.
think it necessary to make many observatioas on the
motion of the Honourable Member for Aberdeen,as his
speech seemed, rather calculated .for a motion..itlikh
Itaod (or lo+Staorrrour evening than, that whickliftla new
before them. The question now before than was,
whethir all consul y Hankers should beobliged toe itnefie
(Mimiy seSgrasof.the.atuouut ottheir c initiation ?Tki;
Hon. Member for Aberdearseemed.ptiocinally to g:4l-,
upon two arguments. One was that be (the Chancellor
ache Laabegoes)bad made an nroneoes-ktatentent p 4
a former evening of tie amount of the:sirovlatioou
.1011.'•esensupposing that this statement was erroneous.
toot seas *ottomans, whir.rt OPr iv3taelcA99'4, ?f,P-nitaiX
bet .ot 'Linkers should be laid open to the pablia.,/t lei
one of the mo,t extr Amain?! r aisameate hi had IWO.,
..e.sr4l 140 by. im Howler:4le Meinber.: :Nis erl
?-Lament *a., as far as he conic' gather it, the; it, ',Of S
s eceksitryjn review the-whole !Irwin of bankiog. . • 410
ihe'efete. that it was necessary that thil /*WO 1
leash he was schanaioes should be made. lilt; i WY
t•.e argument contradicted iota,. • Tile 41"404: 441
.1
~view 4 the wirleosystepl- 1105 e. 4c.rr, ti •: - 41 '1
.4ainst entering into this'particssme Int o 'lt: .0
‘lsi Lot meat to say, however, davit might not be

advantageous to have hereafter some means of knowing
the amount of the circulation—(Hear, bear). He
begged, therefore, to be understOod to guard himself
from making any pledge for opposing any proposition
to that effect hereafter. when there would be a proper
oppOrtunity for the discussion of the point. All he
meant to say was, that this was not the period when
such a question ought to be argued. With respect to the
argument of the Hon. Member behind him, relating to
the failure of the banks at Swansea, he thought it only
proved the futility of any public examination of bankers'
Accounts, when such intelligent Gentlemen as no doubt
formed the Swansea Committee were deceived. _ _

Mr. D. W. HARVEY bupported the motion of the
Hon. Member for Aberdeen. It the issues of a bank
were made public, individuals would be able to judge

of its s lvency by the known amount of the property
and securities of the owners. This motion would, `.e
thought, second the avowed object of Government—
namely, to introduce a sound system of banking.
Sir JOHN WROTTESLEY said, he should oppose
thp introduction of the Bill. He thought it was a suf-
ficiently plain objection that it could not be carried Vito
a law in the present Ses,ion, even if no opposition were
raised to it, which, however, could not fail to be

- -
rai.ed, from the manner in which the Bill affected the

character of a numerous and respectable body of the

community.
Mr. Alderman THOMPSON objected to the course
proposed to be adopted by the Hon. Member for Abet-
deen, on the ground of there being a Material difference
between tie terms of his prevent motion and the notice
which he had previously given ..f it. The notice only
comprehended ".a Quarterly Return of Bank
,Note,
ivvued by Country Bankers the motimi was, " for
leave to bring in a Bill to compel the Bankers r f the I
United Kingdom, including the Bank of England, to
make Quarterly Returns cf the Amounr4 their Cncu-.
lation." It was Ullf4ir to include the Bank of England
in the motion. without previous nrtice, which, if it had
been given, might have induced Geutlemed connected
with the Batik to attend, and state the grounds of their

opposition to the measure.
Mr. MONCK said. if his Honourable Friend the
Member for Aberdeen pressed his motion to a division,
be should certainly vote for the Bill.
Mr. Alderman WAITE' MAN objected to the intro-
duction of a Bill such as that now proposed at this pe

pod of the Session. He had no violent prejudice in
favour of the country bankers; but he thought justice
should be done to all parties, and did not like to hear
statements brought forward against persons who were
not present to defend themselves. Much of the blame
,laid to the charge of the country bankers was attribut-
able to other causes than the existing banking syst-m,
namely, over-speculation, &c. and the bankers them-
selves had frequently suffered to a great extent by their
customers !indulging in the .mania for over-trading.
Mr. HUME replied, and observed, that as the Right
Hots. Gentleman opposite, and other Hon. Members
who opposed the motion, did so, principally, on the
ground of the period when it was brought forward, and
not through a difference with respect to the principle of
the measure, he should not n,,w press the question to a
dieision. Hopiag that, as the concession would be made'
at a figure period, be was content to wait till the alarm
and difficulty consequent upon carrying the &nil)
Motes' Bill Otto effect bad subsided. He should there-
fore wait tal April' 1829, when he trusted Right Hon.
Gentlemen opposite would consider themselves pledged
either to bring forward a measure similar to the pre-
sent. or else to support it when again introduced by him
(Mr. Hume) to the notice of the House. Under these
circemstances he begged to be permitted to withdraw
his motion. .
The motion was accordingly (by leave) withdrawn.
surnorneesee.
The CHANCELLOR of the EXCHEQUER having moved
the Order of the Day for bringing up the Report of the Committee
Supply,
Mr. GRATTAN tooft that occasion to move for copies of cor-
respondence between the Magistrates of Wexford Sessions and the
Secretor/ for Ireland, in the years 18.43 and 1624.—Ordered.
The Order of the Day for bringing op the Supply Report was
then read; and
81r A. GRANT brought up the Report, which was received,
read, and the Resolutions severally agreed tot
Air J. WROTTESLET asked-the Right Hon. Gentleman ep-
posit* (the Chancellor of the Exchequer) at what time he proposed
tolizlng forward the Budget?
TbeCHANCELLOR of the EXCHEQUER said it was ne-
'Cresosily defined till the Estimates of the year should have been
'veserlo,aartshirse-were not es yet entirely disposed of. Next week
thpapellsente lissimatts would be moved. When they were voted
isi baitilee terabit to fix a day for bringing forward the Budget.
• Axesentods orrice (sastams) num.
irbe distil the Day for the mid reading of the Registrar's
Offioe (Ireland) Billisaving been read,
Mn H. GRATTAN complained of the enormous amount of
tale leuiod-hy the office. and called the attention of Government to
the 'object wish a view to their reduction.
.The CHANCELLOR DT the EXCHEQUER said, the Bill
hit/been folostied on the recommendations contained in the Report
of the. Columiasioners of Inquiry. The Treasury only possessed the
power of regulating and re-modelling the office effectually, after the
Inminadon of the interest. of the parties by whom it was conducted.
flowerer, In the present Bill considerable reductions were made is ,
else charges, and the fees were apportioned to the dudes to be pas.
kneed in Compliance with the advice of the Commissitniers.—
After the,termination of the present vested interests, the Treasury
could defray the expense of the office out of the fees that were pay-
able wit, and-dispose of whatever residue there might be for the
public service.
Mr. HARVEY denied that the present Bill was in coasenanee
with the recommendations of the Commissioners. The schedule.
contained in the Bill harmonised with their Report ; but there
were many clauses in the Bill entirely at variance with it.
•
The Bill was then read a third time and passed.
C/DIDt AND PENNY tresssixa at
The CHANCELLOR of the EXCHEQUER moved that der
House resolve itself into a Committee on the Cider and Perry
Licensing Bill.
Mr. HUM opposed the motion. , He could not see why a
new tax should be imposed—and he thought before the Speaker
left the Clair, the Chancellor of the Exchequer ought to state his
reasons why, for the first time, he sought to impose a tax on those
articles.
The SPEAK Eflobserved, that the subjects If discussed, must be
discosseclk Committee. The Hon. Meetbet Might, however, now
object to going into the conidderation of it at sill.
his...HUMS hoped the House would OM go Into Committee
upon the Bill. .•
Th House divided Se " , the motion of Ai Crouse .on. of the
des ;
For the motion . .
Aping h . . • • A• •

• • 7$
• IA IQ

I •

. • —es
phi,..ll..eliii4 • 40, 1.304. colimittee,
r---.17.r-7- •
. .
lewalleld.Xoll. kfltarsxciaQUEß. ad-
d, the noise,. obsetoecli tbat when he aikeil the
plite the retailer of -cider and perry on the
tinting .ejth the retailers of ale and beer, he Wilt
spt aikfrigr moth I but his motive was a higher one, for
triPoiteve evil existed in consequence of the trade in
man ,red Perry not being placed under any reAriciions
Theexispenoe of such ars evil wai well kno a
it The eider Coumies, and led to drunkenness and.pto-I
hurtle:once of Pgni rlieeat WAS 'theretore,
reolikl for,
• SteitirlLSON said, the defence 'of 'the Right Hors.
gegaeitrair•iiiis !post unsotigfactory. He would have
b4vaji:bttri;reasor: in defence of the Bill if be had
Idged :he:state °f air finances:is the ,votive for its
hitsodnction. Ahhough the Right Hen. Clootienseu
bad said the tax was a moral tom, a tax to prevent

Lot) 004.

• ...m•iiip•ff

FRIDAY,' JUNE 17, 1828.

STOCK FACHANGK, TWSLirit O'CLOCK.
Canals opened this morning at 896 sellers, and atlmtsent may
be quoted at 89, alternately buyers and sellers.

In the Foreign market, Mexicans are at 42, Which 's 1 per cent.
lower than yesterday.
CITY; HALF-PAST ONE O'CLOCK.
, We can supply the deficiency in regard 'to the leaving off prices
of the French Itentes of Tuesday—Five per Cents, 'losf. 25c.
Three per Cents. 71f. 50e.
We are informed that the Commissioners for the Sinking Fund
will purchase next Quarter, beginning the 7th July, 1,24e,e00 in
Money, and there is to be 54 buying days, and each day there will
bo laid out twenty-three thousand Pounds.
The Consol Market bas remained Erna the whole of the-morning
at 89 to b. A large purchase was made in the early part of the
the morning. Mexican Stock has fell 2i pet tent.

PRICE OF S FUCKS AT TWO O'CLOCK.
Bank Stock India Bonds
3 per Cent. Rid. 991 1 South Sea Stock
3 per Ct. COM. • Shut Old Annuities 381
36 per Cent. 951 . £lOOO Kackeq. Bills 64 6
31 per Chet. Red. 951 jI f I ,9500 Ditto 64 6
4' per Ct. New, Shot .910 b and £2OO Ditto 65 6
Advertised
Cper Cent. 1041
Long Ann. -Bank for Acct.
Inas Stock Consols for Acct. 996 9

-- - .
0011N1tW FUNDS, TWO o'Cl.ii(:K.
Brazilian 13ds. Spec. 65 blez.Bds,lB2s,6pCt. 42211i11
Colombian Hoods, 6 per Ct. Do. Acc. 45 21 S I/ 2 11 11
Do. 80n.i.,18u4,25 Spanish Bds S p Ct. 111 1 1 *
DoAcct 25 41 Do. Acct. 11)
',man lid,. 3 pCt. 611 , Span. Eds. 1623, 5 p. C. 71 81
Do Acct. 611 French Reines. 3 p Ct. 7lf
alas Bd.. 6 p Ct. 10 P..4,-...... 2.1 -,-
. Do Atct.3o 31 Do. Ate.
DK ITISH AND FOII.IIIOK, BHA ItKS, TWO O'CLOCK.
Mask ipAID.
Brazilian ••35 . : 20 • 81 80
:ulombian 100 : 221 171 17
Untied Walesa 40 7,8 161 16 151
Alliance British. and Porde 100 10 91
Marine Alliance . .
.. ' 190 s si
ira.PiClPsl%'s 414.444. k.: )00 . . 6) 51 .
Theetpliaatiotilftheaktictiotratteged to be ghee b 7
4,,
Goveromeot to the blockade of Opotto•vras made ,last

,pight by the Earl of Aneanitax, tn answer to a
question put by Lord DARNLEY. The . grounds ap-
oar to be these: Don Micuat. is Regent of Portugal,
teengnised by the nation, and possessing the supreme
IN"' de facto ; his blockade ought therefore to be
oeknowle4ed by foreign countries, on the same prin.
ciple as the blockade of Chili before her independence
was recognized—as that of Bahia by the Emperor of
Bra in 1823—and that of the Greek ports by the
Greek vessels. Now it must be assumed, to make good
this.conclusion,that DonMtoom. does de facto possess the
Sovereign authority, and on this point it is to be observed,
that there are in Portugal .two Governments equally
entitled to that name. The Constitutional Regency is
recognised by most or the towns, and a considerable
pan of the, population, as the legitimate representative of
Don perm; thePor tug uese army act under its orders,
sad it styles itself the ruling Power. Don MreueL,.
the other soi disant Sovereign (for whether as King or
Regent it is perfectly immaterial, the condition urnier
whicb,he held the Regency having been broken, and
title to one rank being just as good as to the othe,), ,
wields, indeed, the ensigns of Royalty, but possesses
neither the allegiance of the country, nor the power
of enforcing it. How then is the blockade said to
he declared by*.the Government, de facto, 'the',
ether • Government would have jest as good, we '
think a better, eight to blockade than, the one that'
has done it. The seconds:penis:on that ariseris, whether
a blockade can be imposed at. all, by an'y hut.bernter.
rent nations, so as to be entitled to the respect of sea.
olds? The precedents adduced by Lord Assanintiseem '
to support the affirmative ;Awn in all the cases 'alliuded
to, the contest was between a nation hying ternifiUr
shaken off the authority of their former Rtilers,
authority still being claimed by.thoee Rulers; in other
words, between a Government sdefacto, and one de jure.
—The conclusion of the Foreign Secretary's speech; dis-
claiming all sanction of the proceedings of Don W-
enn., shows that the sentimeuts of the Cabinet in that
respect remain unchanged. •
The Paris Papers of e— contain an account
of the esposal of the heads of twenty-five Russians be-
fore the gates of the Seraglio, who had been killed
Brailow. The Russians have passed the Danube
amidst a thick fire from the Turks ; the latter have lost
12 pieces of cannon, and a considerable number or meb.
Whatever may be the desire of the PORTE with regard
to England and France, it is evident she has no inlets.
tion of offering terms to Russia at present.
Letters from L'Orient, ot the 16th of June, confirta
the arming of the Algesiras, 80 gun ship, and four
large frigates, which are to join the division at Brest.
The Austrian Observer, received this morning, et:s-
tains no news from the contending armies in the East of
Europe. Its columns devoted to political intelligences
are chiefly occuped with articles on the affairs of Greece,
from which we have selected and subjoin a few of the .
most interesting :
VIENNA, Jose IS.
The Corfu Gazette of May 21, contains the following
article : " The latest accounts from Greece announce
that the Greek Government has taken the most rigorous
measures against the plague; that the President him-
self has been t > the infested islands, Hydra and Spezzia,
and has placed the whole State (lotto to state), with the
exception of Egina and Poros, under a twenty-four days
quarantine. Thelforea is divided into seven D!part
meats, with a Prelect over each, viz—l st. for Napoli,
Argos, and Corinth, M. Kalergi. 24, for Calavrita,
Panes, and Vostitza, M. Mauromati. Sd, for Elis and
Pyrgos, M. Kalogeropulo. 4th, for Arcadia, Phanari,
sad Carat, M.-Psy/las. Sth, for Upper Sparta, Kala-
mata, Lerlnderi, and Imblakia, M. Genovelli.. 6th, for
Karicena and Tripolizea, M. A. Vlachopulo."
The Albanians at Coron were still in a state of mu-
tiny. It is affirmed they have sent two of their prin-
cipal Chiefi, accompanied by two Greeka, overland to
the President of Greece ;'the object and iesuit 4" their
mission were not known. The blockade of the fortresses.•
in Messenia becomes daily more rigorous.' ;
squadrons have landed the crew of the Egyptian. tor-.
vette which was detained with Greek prisoneek on
board. It is supposed from this circumstance that-the
corvette.is condemned as a good prize.
Letters from Zante of 22d May say, that the Greek
Bishops who here sent to the Morea and the Archi-
pelago, with the proclamation of the Greek Patriarch
at*Constantipople, had, after stopping a short time at
Modon with Ibrahim Pacha, proceeded on their journey'
to Napoli di Romania, but are reported to have been
arrested on the way by Genovelli, Prefect of Kalamata,
scc. because their communications seemed to make an
impression on the inhabitants of those districts, and to
have been sent to the President of Greece. •
According to accounts from Prevesa of the 28th or
May, which were received at Corfu on the SOth of that
month, the Seraskier, Redschid Pacha, was still at Arta.
Some Greek travellers, who arrived at Prevesa on the
26th, affirmed, that on the 23'd the Greeks had made a
fresh attack on Anatolico, and in consequence of the
consternation and despondency of the Turks, bad nearly
made themselves masters of the place, when a rocket
discharged by General Church fell into a Greek boat,
laden with powder and balls, by which the boat and.all
on board blew up. This accident caused such code.
lion among the Greeks, that they retreated precipitately.
Admiral de Rigny arrived on the 11th of May at
Smyrna, on board of the Actmon brig, and put up at
the hotel of the Consul General of the Netherlands.
The Admiral left the Conquerant at Vourla.—denarian
Observer; June 16.
The last accounts front Constantinople declare the news of the •
plague at Hydra unfounded.
t One Department' with its Prefect is evidently omitted. We
have not received the Greek Gametes. which must contain the DR,
cave rerpectiog this decision. Xpte ef.austrias Mawr,

, .$

The following intelligence has been received by the
Metfiteronean Mad:

MALTA, Joist 3.

in avail of the departure of the Philomel brig of
SOW' sails w.daf for Matseilles, to inforip Oti that