Star.
London, England, 1827-09-20 00:00:00

which he 'surprised the Poet GORTEII, appear to have
greatly added to the popularity, which that amiable
and benevolent Monarch had previously enjoyed
amongst the Germans. It is true a good Sovereign
is always an object of popular attachment; and it is
an infamous libel to say, that si kind M. parch makes
a discontented, refractory, and un2rateTul people.—
It ii perfectly consistent with the Macbiavilian school
of politics to put forth such monstrous opinions; bet the
good sense of mankind, as well as the experience of all
ages, rejects them with contempt.' Except in times of
extraordinary distraction, when society hat been mad-1
dened by Cdction, there is not a single exception to our
rule ; and Princes, provided they were worthy of the
name, never yet found reason to repeat any exertions
they bad made to promote the happiness of their subjects.

EXTRACT OF A LETTER PLOM MADRID, DATED sEFT. 8.
41Dispatches arrived from Barcelona to the Minister
of War yesterday afternoon, announce that a great part
of the insurgents are marching on Lerida and 'lotto's,
and it is much feared that these places wilt fall'into

their hands, if the King's troops ao not art iye in time."
After this Paper was a we received the Casette
de France of yesterday's date, from which we make the,
following extract : • I
FROM 'MR OAZVTTZ DR FRANCR CV IFIRDIDISDAIG
MOLDAVIA.—YASSY, sir?. 4.
Letters from the interior of Russia announce, that
several divisions cantoned on the borders of the Dnieper
halve received viers to match to the south of the
Empire, to reinforce the Army which is acting againtt
Persia.

having , . read.
The Govaairoa announced that the Directors had
come to a resolution. granting a Dividend of 4 per cent
a the Stock for the Quarter now ending. •
Upon the question being pet, ' - 1
' Mr. Youtto rose and said, he bad one or two ques-
tions to ask, which he deemed necessary to put irritate
tittering more minutely into his obseriatiods upon a
males of deep importance. The first of these was; the
amount of Bank notes at present in circulation.
Th
e Govaaoa asked the Hon. Proprietor vilietber
be meant to propose the question in detail, or otherwise?
Mr. Y. WM replied, he merely wished to ascertain
the amount hi total.
Pn

The Govaavoa said the immix, not vary materially
from the amount which he ba stated to the Court in
March last; but that he could sot speak to the exact
amount; though, with coo6denee, be should say. that it
was within 500,0001.0 f the sum he formerly announced
—aatnely, twenty millions.

Mt. You slid it was a large amount, and a►ked
,to what were the issues applied? and whe►her that
amount was granted to the Branch Banks? .

The GOIIIIIISOR put it to the Honourable PI °prime,
whether the answer to that question would apply many
'practical purpose of intorm.tion? He had no objetsiost
to answer the question, but he considered it had better
taut be asked.
Mr. Yootio then

anti the liability of

issue to which the Bank was subject? and wbether the
twenty of twenty-one (billions included stAfie total
amount of capital?
. _ _

The-G3vaasoß replied that the saw Ire ha* easwd
was die toad amoui.t. "-

Mr. Yovso then addressed the Proprietors Grim tbe
subject of the issues and Branch B.nks (lithe Company,
observing that the large i,sue of paper money had pro-
duced a very dangerous effect in the market. It was a
Ivory large and momentous subject, and he contended
that their issues of paper money were much ton great
for the necessary purposes of the country ; he admi'ted
they bad imm-nse powers, but he denied that In ;vest-
ing such large allowances in Branch Banks. they,
had confined themselves within the powers 'of their
charter. They had no right to send out such
immense issues without consu'ting the Court of Pro-
prietors, and he doubted the legal.ty of all their late
proceeding. ; they bad done something which he thought
was not warranted by the bye-laws, or their Act of
Parliament. The Hon. Proprietor at great length ar-
gued this point, and concluded by calling upost the
Directors to shew by sh.t power, without consulting
the Court of Proprietors, they had established the Branch
Banks.

The Goventsoa sail, he had formerly answered that
question, but now to pi event any mistake and :Cr make as-
surance doubly svie, he would inform the Hon. Proprie-
tor, that he; and all quests a, the Directors were entitled
to daiiy th n.e4stste into execution. He would not ex
amine the law upon which the Directors had exercised
rhas pewit, neither would he then take up their time
a hii•ory of •he Branch B inks, and would content
hitt self by assuring shi Hun. Proprietor that twelve
eiontbi since .he had: honestly explained' the 'measure,
whlclrthe- C. urt ctf 'll4l'le:ors, at: different pas-
sages of his acidity', did bins then the honour to
approve. to the trate of circulation at present,
the Board of D rectors wruld feel pleasure in
satisfying all parties, but that was found to be impos-
sible. One par ty said it was too high ; another set of
Gentlemen, lin doubt equally 'sell informed, complained
it was not high enough. Therefore, amongst such con-1
flicting opinions, the Directors were obliged to pursue
hat course which they in their own judgment deemed':
the best for the country. The Honourable Proprietor
was decidedly wrong in supposing the Bank exercised
any forcing power in the market. He mustsay, in the
part of the Bank and the Directors, that they consideted
the present circolati,rn not too much, and the establish•''
rent of Branch Banks of general public utility.
Mr YOUNG expressed himself divatis6ed with the
explanation given, and alluded to the hue issue of pipet
money. which he said was the Bank's.
The Govtaxon assured him that the Board of Di-
rectors had no more to do with that issue than himself.
It had not emanated from the Court of Directors.

Mr. Yousro then argued that the explanation was by
no means satisfactory, and called upon the Directors to
show by what law, or clause of their new Act, they
could justify such an enormous circulation of paper
money, as, without the consent of the proprietors for
Branch Banks, without consent of the Court of Proprie-
tors, decliring they had never called together a Court
for that purpose.
-The Gcvsairoa repeated that the Directors had acted
legally and properly for the safety of the credit of the
country, and as some legal explanation was demaaded
by the Hon. Proprietor, their Solicitor would give it.

Mr. FRISIIIMILD then read the clauses from the Bank
Charter, and from some of the Acts of Parliament,
which vested certain discretionary powers in the Court
of Directors to make, amend, or act upon any bye
law, constitution, order, rule, or direction of the Com-
pany, without applying to the Proprietors; and also, in
the absence of any rule, they had power to act as their
discretion directed them.

This gave rise to a conversation between Mr. Fatissr-
YIELD and Mr. Youxo, in which the former contended,
that any deviation from the ordinary yractics. which
might have taken place was sufficiently warranted by
'the laws and regulations which be was prepared to
cite; and the latter denied that they had any such
authority, but were going upon very dangerouaground.
They, he contended, had no precedent for suffering such
a large issue to step into Branch Banks, and had no
law for it; and he believed it was originally the listen•
tion of the Legislature not to permit them to have this
power of disposal of the capital.
Mr. Flll/111/IRLD. after Mr. Young had sat down, said
the Court of Proprietors never having mooted the
question, the Board of Directors were bound to act
upon their own suggestion on the subject.
Mr. YOL/110, however, founded no motion on the
stibject, and the discussion dropped.
The GOVZINOR then announced that the Dividend
Warrants would be made payable from the 11th of
October nest.

A Paorataroa mad. one or two observations as tips
Coots was separating. upon the comparative vsise o

beep the great!, benefactor* as well as the b- gittest BANK OF ENCLA-ND.
osaaawats, of the human's ras day a Quarterly Gen :sal Court of Prrprieton
We also remised this' morning Frankfort Papers est *es held at.the Bank of E tgianJ, few the purpdea or
the same dale is the former t but such of their contend comediri, Zb'l4 aerrde,dt and such o,llter bermes as
as possess any interest. fiavn-been anticipated thniugh 1.4 'gust
At 12 o'clock the Governor and Direetors entered
other channels. The visit of the King cf BAVARIA to ihecourt.
W.iirdir, and particularly the agreeable manner is Tbe minutes of the last CdUst baring been read,