The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1844-05-14 00:00:00

THE COURT.

THE ROYAL FAMILY.—On Wednesday afternoon, the
Queen and Prince Albert, accompanied by the Princess
Royal, arrived in London soon after three o'clock, in
carriage and four, escorted by a party of the Royal Horse
Guards, from Claremont. '1 heir Royal Highnesses the
Prince of Wales and the Princess Alice followed in
another royal carriage. Her Majesty and Prince Albert
were received at Buckingham Palace by the Lord Steward,
&c. In the evening, a dinner was given at Buckingham
Palace, to the noble directors of the Concert of Ancient
Music, his Royal Highness Prince Albert, being director
for the evening. At eight o'clock his Royal Highness
Prince Albert, accompanied by his Royal Highness the
Duke of Cambridge and the Duke of Wellington, left the
palc.ce for the Hanover Square Rooms; and at a quartet
past eight o'clock. the queen left the palace to honour the
performance of the concert with her presence, accompa-
nied by Her Royal Highness the Duchess of Cambridge,
and attended by the Duchess of Buccleuch. On Thurs-
day afternoon, the Queen and Prince Albert went to
Marlborough House, to visit Her Majesty the Queen
Dowager. The illustrious visitors remained with the
Queen Dowager about an hour, and afterwards returned
to Buckingham Palace. Their Royal Highnesses the
Prince of Wales, the Princess Royal, and the Princess
Alice. were taken their usual daily airings on Thursday,
in the royal gardens. It has been arranged for Her Ma-
jesty and his royal highness Prince Albert to honour the
Montem, at Eton, with their presence on Whit Tuesday, the
28th instant; and it is expected that the court will remain
at the castle during the whole of that week.
A letter from Dresden states that it is the intention or
the King of Saxony to pay, in the course of the
present
month, a visit to Queen Victoria in England. His Ma-
jesty will, it is said, remain six weeks, during which be
will make tours in Wales and Scotland.— Galignani.

BANKING AFFAIRS.

(From the Times of Thursday.)

and capitalists to form a judgment upon the new
Sufficient time has now elapsed to allow the city trader
relative to banking affairs, which i, viewed as the most
important measure of the kind since Sir Robert Peel's
celebrated bill of 1819. Taken as a whole, it is pro-
nounced to be deserving of the greatest praise ; and it is
freely admitted that all the previous recommendations
and plans of the select and other banking committees
sink into comparative insignificance, when compared with
the change that is likely to take place when these views
are fully carried out. The subj-ct naturally divides itself
into two main branches—the country bankers, and the
Bank cf England. project

With retard to tho first, the irresponsible issue of paper
by individuals or companies is from the present moment
effectually checked,—unless by some evasion of the pro-
posed new law, amounting almost to fraud,—and becomes
limited to about the present very restricted account which
they have in circulation ; and there is every probability
that within a few y, ars the power of issuing notes will be
restricted to one source. Most people agree that the loss
sustained by the public from country banks is not to be
estimated solely by the amount of failures, but that a very
large though indefinite item is to be added for the over-
trading occasioned by the injudicious over-issues of those
who continued solvent. This was pointed out by Sir R.
Peel from the examination of some of their own witnesses
before the late committee. Hence the arrangements re-
specting them are regarded as wholesome and necessary
checks to the issue of a doubtful and insecure currency;
while those which relate to the Bank of England are
viewed in the light of restrictions to the injudicious con-
traction and expansion of a currency, which, however
safe as regerds the holders of the notes, have frequently
operated injuriously on trade and commerce from sudden
and unexpected variations in the amount.
One main alteration is the division of the Bank of
England into two branches; the first being simply a bank.
of issue, and the second merely an establishment formed
for the ordinary purposes of banking, but without anY
power of creating notes, and which will therefore act as
any private bank trading on its own capital. The issuing
department will have two very distinct functions to per-
form, being authorized to create an amount of paper
money to the extent of £11,000,000, based entirely on
the debt due from the Government to the Bank, and
£3,000,000 on Exchequer-bills arid other public securi-
ties, to which extent it will be a Government paper money,
and incapable, except in particular and limited instances,
of being increased. The other means by which it maY
issue notes, in exchange for bullion, will supply what has
long been wanted in this great commercial country—a
bank of deposit, similar to that of Hamburgh, in so fat:
as it offers the facilities of paper in large payments, joined
with the absolute security of a metallic currency, but
superior to it in deta 1, because it offers the same facill,tY
and security to smaller transactions that is afforded by
the Hamburgh bank, where, instead of notes issued, there
are transfers made from one account to another, which
limits its usefulness to the larger class of operations. it
is clearly seen that the amount of notes which will thus
circulate will necessarily be fixed by the wants and con-
venience of the public, and form a Protection against any
demand for gold on notes based on the other securities,
as before they can be presented the notes issued against
gold must have been paid in, and the paper circulation
reduced to £14,000,000.

The new measure appears to city observers not only
judicious in itself, but remarkably well-timed. The
amount of gold is now about £16,500,000, and notes to
this extent are therefore already based upon th• precious
metals, so that the transfsr of the stock of bullion to the
issuing department will form a basis on which this amount
will issue and be circulated ; to which amount also the
currency will be really metallic, although possessing the
facilities, so far as easy transport and freedom fromwear
are concerned, of a paper currency. The remainder of
,
the notes in circulation is about £4,500,000, and to tats
must be added the deposits, amounting to about
£13,000,000, and forming a total of about £17,500,000
liabilities which are based on securities of different kinds
now in the hands of the Bank. Of this amount £11,000,000
is now provided for by the new plan, against the Govern-
ment debt, and the Bank will have the power to issue
£3,000,000 more against Exchequer-bills or other public
securities they may now hold. This forms the total issue
allowed of £14,000,000, which deducted from the total
liabilities not covered by the bullion, leases £3.500,00
which is about the amount of the " rest," or real surplus
capital. Hence nothing can be imagined more easy tban
the transition will be into the new state of things. sit
follows, that whatever alteration may eventually take
place in the total circulation must proceed from the dei
mands of the public. The state of trade, therefore, and
the importation or exportation of the precious metals'
will in future govern the amount of money, and not, !I
has too frequently happened of late years, the artificial
abundance or scarcity of money influence trade en'
prices.

THE COLLIERS' STRIKE.—The turn-out at Clay Cras!
still continues, although a number of the men have o°'
into work. For some time past, the men in the emPlo37-
went of Mr. Barrow, at Staveley, have been under the
necessity of being protected by the constables, from the,
crowds of women and lads by whom they have been as"
sailed ; and the disturbance has at length ripened tat°
uproar. On Thursday night, as the men were returning
home, a mob of about 200 women and boys assailed thebna
with hooting and annoying language. Mr. Alsop Smit
the constable, immediately attempted to take the fore;
most into custoiy ; and the mob immediately closed upo
him, and beat him severely about the head with a ston_ee-
The constable is confined to bed from the effect of the
injuries he has received. We understand that the Swoarn;
wick, Pentrich, and Ripley collieries have got tg
turn-out may be regarded as generally
at
an
workmen or
are happy to learn that the colliers and other_
NV wodshuts, to
R. E. Heathcoate, Esq., at Apedale and ° d their
h resume
their full complement of hinds. In Staffordshcrew
vh
ee
the number of about 800, have at length
than Biz
labours, after having discontinued them
weeks.—Derby Mercury. more