Star.
London, England, 1811-07-18 00:00:00

that it was in his power to have eorrieted those abuses.
It he had, it MULL have been A very :trona obli6atiou
of secrecy that would keep him silent, • •
After a short explanation from Sir NV. Scott, Lord
C chrane's first motion was put, and carried neat. can.
Ills second motion was not seconded, and, therefore
fell to the ground:

PifliMßEltllo BEING) BANK PROPRIETOO.
Mr. CRELVEY brought forward the motion of
whiCh he had given notice, that no Member being a
Bank Proprietor should vote on the bill'now pending.
He began by moving, that extracts of the Journals
should be read ; by which it appeared, that upon the
question of the compensation• to holders of stock lathe
Loyalty Loan, Mr. Rose, and Mr. Huskisson, who
were both contributors to that loan, were not con-
ceived entitled to vote upon the question. At that
time another Gentleman, Mr. Manning, appealed to
the Speaker, to know ss hat he should do ; and Lord
Sidmouth advised him to withdraw. There was
another instance, where a•much more minute interest
WAS supposed sufficient to prevent Members from YO-.
ting. There had been a corporation for supplying
bread, in which the shares were only fifty pounds ;
and yet this was supposed interest enough to make it
improper for a Member to give his vote upon that
question. With those instances before him, he did net
suppose that it would be conceived extraordinary in
him to put it to the sense of the House, whether 45
individuals, being Bank Proprietors, shcmid have votes
upon a question materially affecting the profits of the
Bank ? 1n 1797 the Bank was restrainedly an Act
of Parliament from paying their lawful creditors.--
Since that time, upon their capital of eleven millions,
they had issued notes to the amount of more than 22
millions. They had divided among themselves bo-
nus'e to the amount of 6 millions, which was more
than half of their original capital. They had raised
their dividends from 7 per cent to ten per cent. and
the value of their stock bad increased from 118
per cent. to at least double that amount. What
greatsr interest could any individuals have in the
discussion of a question than the Bank Proprietors
Lad in the present instance ?. He waFeafraid, in the
presence of Ministers and Bank Directors, to use the
word '6 depreciation," as those Gentlemen would say
that this was a language only fit for 6, Jews and ped-
lars." The operation of this bill would, however,
give the power to give to the vilest rags whatever de-
nomination of money they thought proper. Tire Bank
Directors were now the greatest men in the state,
since they were protected from paying their debts.—
The Constitution used to be said to consist of King,
Lords, and Commons ; but now the Constitution
seems to be the King, the Bank; and Leadenhall-
street. (A laugh.) An Honourable Beak Director
(Mr. Baring) had said, the other day, 'that he had
but 12000 in the Bank, and therefore could not be
said to have any interest ; bet W man, having but
12000 was appointed a Bank Director, and immedi
ately enabled by his interest to lend ,6200,000 to a
mercantile house, this was a very important takes*.
On looking over the list of Bank Proprietors, the name
which stood at the top of the list was Lord Arden.—
Although that Noble Lord refused to tell the Corn.
mime what were his emoluments; and said that his
fees were his freehold, yet it appeared by the exami.
nation of his deputy, that besides his emoluments,
amounting to at least twelve thousand per annum, lie
had always iii his hands, upon an average, about
/200,000 of the money of others. Now, it he chose
to buy Bank-stock with this money, it was evident that
his interest was very great. Now, when those who
acted like another Noble Lord (Lord King) were
compared to " pedlars and Jews," he hoped that it
would be recollected that other Noble Lords had

stood up as gallantly for their property, and that
Lord Arden, who refused to ;ive an account of his
fees (however he might vote on this question) had
shewn at least as great a regard for his property as
Lord King had. When this was considered, he hoped
that the allusion to a Jews and pedlars," would be
sparingly used. He concluded by moving—
That It appeals to this House that in consequence of an Act
Tossed in the 37th year of his Majesty, for protecting the Bank if
Eiiglatitt from payment of its lawful creditors in specie, the pro-
fi.s of that Corporation have encreased to an enormous degree ;
that besid..s increasing the dividend upon their capital stock from
it to 10 per cent. they have at different times divided amongst
themselves, In the way of bonus, upwards of six millior sof
'money, being more than one-half of their capital stock ; and that
in addition to such profits, their capital stock has, by the advan-
tages of increased Issue...of their paper, and lion-payment of their
creditors, been increased from Xi 13 per hundred to 4 230; that,
under ,urli circumstances, a bill is now pending in this House,
giving a legal value in the coin of this realm to the notes to be
Issued by such Bank, however indefinite such issues may be, and
protected as the Bank still is from payment of its creditors, by
means wh:.-reof the issues lit notes, and the profits of the Bank
may be even still further and greatly encreasee; that various
Members of this House, are Members, likewise, of the said Cor-
porat.en o the Bank, and Proprietors of Batik Stock ; and that
this House is 01 ion that such Members have a direct hitt-
re tin passing this bill into a law, and that chair votes in fivoar
or the .b.infe ougt:t to be disallowed.
Mr. Nl,-IN:NING had no hesitation in saying that
he was the person alluded to by the Honourable Gen-
tleman who spoke last. The effect of his vote on the
question of the Loyalty Loan, if he had been allowed
to give one, would have been to put £lOOO into his
own.pocker, in consequence of the 810,000 loan of
which he was a holder. Here, In wever, the present
Bill could not affect him, or any other Bank Direc-
tor or Proprietor, to the amount of half-a:crown.—
Let the Honourable Gentleman look to the question
before the House, and see what effect the votes of
' the-Dilectors and Proprietors of the Bank, only 40
in number, could have upon it. -The last division
was 135 to r,+, and itthese +0 were excluded, what
difference could. that make ? As well, however,
might all Country Gentlemen have been excluded
from voting on the Distillery Bill ; or all West In-
dia Proprietors on the Sugar Bill, or on the Bill for
the Relief of the Colonies. He, for one, should con-
tinue to discharge his duty in that House honestly
and faithfully, without regard to the present Bill,
which, whether passed or rejected, could not encrease
or diminish his property to the extent of sixpence.
Mr. DENT thought, that the' individual Bank
Proprietors could have no interest in,the question suf-
ficient to deprive them of their right of voting. lac
was very sorry for the manner that the Noble Lord's
name had been introduced. He was not a Member
of that House to be able to speak for himself, and
the Right Honourable Gentleman (Mr.. Perceval)
would probably be prevented by feeling a; pride from
noticing it.
Mr. LONG was satisfied that every Gentleman in
.the House would see the motive- which induced the
Honourable Gentleman to attlect the uansoOf Load