The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1844-07-02 00:00:00

THE BANK CHARTER BILL,

A deputation
from
the ectnuiittee of j3iiif.4.tock banks
had an interview at iial,-past two o'cl,ck on Friday with
Sir Robert Pe .1 the Firpose of proposing their amend-
Merits to the Bank Charier Act.
The deputation consisted of Messrs. Jos. Walker,
Vincent Stuckey, J. W. Gilbart, Daniel Robertson, and
Oliver V 1,.
Mr. Walker stated the different points assigned by the
joint-stock banks, and Sir Robert Peel very corteousiY
consented to the foil riving important modifications
That instead of the averages of the two years as
ti°tlginally proposed, the maximum of the future circula-
-our shall be regulated by the average of the circulation
pr
""'Tg the three months, February, March, and April,
evious to the announcement of toe measure in parliament.
2. That the future maximum shall be taken upon a
monthly, instead of a weekly average, so that if a bank
snoold exceed its limits in one week, it may reduce it in
the following weeks.
3. That the word " place " in clause thirteen, be omit-
:V. Bo as to allow banks to open new branches, provided
hey do not exceed the fixed amount of their circulation
~r 4• That e act shall not come into operation so far as
e countryth bankers are concerned, until the 25th October,
the eriod when the bankers' annual licenses are renewed.
nniobe deputation urged Sir Robert to permit, that when a
took place bet ween two joint stock banks, or joint-
t.s.toeck and a private bank, the united bank might issue to
I.ll.Bunited amount of their previous circulations. But to
etlivhe obj,eted, on the ground that the whole circulation
ntry might then fall into the hands of a few
large coo
~111 r. Walker expressed the satisfaction of the deputation
;ttle concessions which had been so handsomely made,
rill entertained a hope that Sir Robert would
;07d°osider the subject of the union between joint-stock
oft private bankers as he considered such unions might
disZ Prevent banking failutes that would inflict great
aariafas,sioll the country. Mr. Walker expressed the
'whieC„r" of the deputation with that part of the bill
equc. "'iced, the joint-stock banks in London upon an
twee, with
the other banks, in regard to right of accept-
e
halfTh Concessions made by Sir Robert Peel will add above
in° a
nthl million to the country circulation, and by the
s_ti instead of the weekly average, the danger of
cUr
Iring penalties will be wholly avoided. We have no
doubt the banking interest generally throughout the coun-
ty will feel greatly obliged to the joint-stock banking coin-
baittee for having obtained these important modifications,
and we apprehend that the bill will now pass through
Parliament without any opposition.

TF FREE TRADE RENDERED CORN CHEAPER,
WOULD THE WORKING CLASS BE BENE-
FITED?

SUPPOSE (which we have shown could not ultimately
be the case) that in consequence. of the unrestricted ad-
mission of foreign grain, the price of subsistence is per-
manently lowered to m
the British consumer—nu 11 any
benefit thence in the end accrue to the working classes of
Great Britain? If, indeed, they could succeed in main-
taining their money wages at the same level, they would
he very great geiners indeed by the changes; although
he withering effect of the distruction of the agricultural
classes would, in the end, come to react on this temporary
prosperity of the manufacturing classes. But could the
manufacturing operatives, or any class of labourers, keep
their
ctionn in moey wages up at the present level if a permanent
redu the price of the necessaries or life had taken
The
Nothing is clearer than that they could not.
The money rate of wages, wholly independent of the price
of provisions from Year to year, is entirely regulated by
other things being equal, from ten years to ten years.
If by the free ireportatior, of foreign grain, the money
price of it is reduced one-half, the ultimate result will be,
frthat wages will fall one-half, also. It is impossible it can
onthewise ~ for even if the' reduction did not ensue
anY oether cause, it would inevitably be brought
about by th great impulse eiven to population, and con-
sequent mnhiplication of labourers under the influence of
tutiiminished money wages, and augmented ease of cir-
cumstances
the ne arrieaandnfailifincreasd durable fall in the price of
Pases!
history
and .
ePresent experience alike concur in
temonstrating this important fact. In the time of the
Tntan Conquest, the price of wheat was from three
awnings and sixpence to five shillings a quarter ; but
lae:ereheless the labourers had not half the command of
forlticessaries and conveniences of life they have now—
durine 113°11eY wages of labour were a halfpenny a-day
provitge_the remainder of the year, and a penny in harvest..n
Russiaw,n, a are incomparably cheaper in Poland andß i
Cm 'nen in this countr • but are the Polish and us-
as ;111)easats half so comfortably fed, lodged, or ckthed,
knowse corresponding classes in this country ? Every one
Whatever
that, so far from being so, or obtaining any benefit
to"Zever from the cheap price of provisions in their own
In B Y' theY are, in truth, the most miserable labourers
the ral'Pe, and feed upon scanty meals of rye-bread,
.in
for theta dat of the splendid whet crops which they raise
soot
sometimes opulent consumers in this country. In the
an,.. provinces of Russia, wheat is often only ten,
""'`ln'ea but five shillings a quarter. from
'want or the total
Why, ill ..anY market. But what is the consequence?
Leta nnt '4 :wages are so low, that the Cossack horseman
toyerenT enight shillings and sixpence a-y Far of pay fronO
eheaner Intl Wheat and provisions of ail sorts are much theless , reland than in Great Britain; but, never-
the
the ' tne Irith labourers do not enjoy one-third of
th,,eornr forts or necessaries of life which fall to the lot of
43;18il ethren oil this side of the Channel. Their wages
sions
Ireland,oPfennicie‘ay. Thence it is-, that when once they have
got out f -
.-
so few will ever return to it. Provi
Au:aerie:
,orts are extravagantly dear in every part of
the age, Ete.fara, and Australia; but., high as. they are,
esoingoiiaessaear.asturibuur from the rapid growth of these
Inght r, and the condition of the labour-
fortable. 4,l,"eY°nd all precedent prosperous and corn-
nothine i -,,e mere necessaries, of life are sold almost for
Obtaitifng-annliindostan wed China ; but, so far from
labouring nia,sesefit from that low rate of prices, the
but rice and water so poor as to taste hardly anything
ing twopence a_da ' and wages are so low, seldom exceed-
horseman has tweY, that every sea-boy, foot soldier, and
li, an wait upon his person
extremely ill .
d every native three attendants to
zatiaples of this sort prove hovv
nent low prices founded
is the common opinion that perma-
work• must necessarily produce comfort to the
was Ing classes, and tend to show that Dr. Adam Smith
mid
nearer the mark when he said, "High prices
.7 Pl';',,E.Y, are prosperity: low prices and want, are
*YerY•
Old Protec —Fro
on. nt .
z"nB
Mr. Al' ' Pamphlet on Free Trade
ti

SPO RTING INTELLIGENCE.

TATTERSA WS, THURSDAY.

THE LATE DERBY.
Pursuant to the judge's order obtained on Monday last,
Colonel Peel's solicitor, accompanied by Mr. Field, Mr.
Mayor, and other veterinary surgeons, arid several per-
sons, for the purpose of identification, proceeded to Ep-
llom yesterday, with the intent to see and examine Run-
ning Rein. Full particulars of what took place we have
not been able to collect ; but it is state,' in the subscrip-
tion-room, that Mr. A Wood, the owner of the horse,
was " not at home," and, on application to the trainer,
(Mr. Smith,) he refused to show the horse without an
order from the owner, thus expos'ini, himself to the
usual penalty for contempt of court. The effect of this
teksal was to increase the odds on Orlando from 5 to
f. t_ken several times in the early part of the day, to 3 to
°tiered.

GOODWOOD STAKES.
9 to 1 agst The Duke of Richmond's Ild Deer.
17
t°
M Aleiklain's The Best of Three—t.
20 to I " Mr. lt Qtone's The Era—t.
2020 ttoo 1 Mr.r* I°' nri''s The Pride of Kildare.
20 to 1 Mr errewl 'll 's Gunter.
25 to 1 ' Sir.S.3Spvi 'es Subduer-25 to It.
25 to 1 :, Tire Duke of Richmond's The Currier.
25 to 1 Mr.e Brooks' Ajax—t.
" Lord GBentinck's Croton Oil.
The bettin'g' was too slack to require any comment.
4 to 1 ST. LEGER.
8 t agst Mr. Salvin's The Cure. 9 t°, 1 ~ Mr. J. Day's Ugly Buck—t.t.
10 to 1 ~ Lord Stanley's Ilharie! 33 to 1 ~ The Duke of Richmond's_ Red Deer—t.
33 to 1 Mr. H. Robinson's NI rpeth—t.
We 11 Lord G. Bentinck's Devil to Pay—t.
was doe°te the prices last betted at Newcastle. Nothing
e Yesterday.

31 to 1
DERBY, 1845.
40 to 1 agst Mr. Delme's Alarm—t.
40 to .11` ,t Lord Exeter's Golden Fleece t.
- 4 ~ Mr. 's Columbus.
The
THE LATE OAKS.
111b8
• °ll°wirl i tuck up
.g eript I not ce was 8
.. Mesal?n-roon3 at Hyde-park-corner :yesterday in the
44lehtwaitir,6. Tattersall are desired to
.stat,
Oaks this
Year. has LB tnaret MiBB Julia, who ran in the . y
,_.
that Mr.
lire of m ueen examined by a veterinary surgeon,Oyeuaurs
oltthis
IreiirPorth, has
444 27, 184'4." pronounced her to be a four

FRIDAY.
The Ate
~VIANCHESTER,
bscription-
room kiati
, was 11,t ce WELS so limited thath threth
laid,
-lim 111.118 t fill re9Rired. We did not ea
week in
for the
sruee bets
NIA" by giving the prices accepted during the
Liverpool c -41. N but upon the candidates
to-ruorroW, when the
uP ; nut strange alterations may be expected
24 to 1 on the fie:eights
LIVERPOOL CUP.
will be on the tables.
27 to 1
30 to 1
yrs 01,1
age.t Parthian, by Jereed, out of
Cyprian,
7
3310 1 " Pagan, by Muley Moloch, 60Y,r,s—otl.d—t.
od to 1 `, Yardley, by Sir Isaac. 4 ass la
40 to 1 ,i Eboraeum, by St. Nicholas, 5
3 yrs old—t.
40 to I nest of Three, by Inheritor, t .
What, by Jereed, 4 yrs old— rs old—t.
6 to 1
GOODWOOD CUP.
al 6 yrs
er,
old,
'oBt 51balgst The Squire, by The Sad
REIN.
Th 1 GItLANUO V. RUNNING
t 4 0 e ast olter on
Tuesday was 50 to 25 on the letter

• LEGER.
MeWtOllOZ rlot heard one bet this week. At Newcastle
raw
°j
1 rig Prices were booked :
6 to 1 agst The Cure, by Physician, out of Morsel.
toto. , The Princess, by Slane, darn by Phan-
-7 t 1
Mrli_ ~. Ithuriel, by Touchstone, out of Verbena.
talent
toTernpubitohatßeB
11 sotludd Rate '• v?, o
ket
am Earl Fitzwilliam's
Ipton.

Cro
,led ones
odds were
onen c,,
ed
used whose abilities as a calculator of a to say, luaus five to four were the g
,(40 at the very bPst , pleaded by the very best
ete, ought to induce any roan to bet in its favour.
greatest
light