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

'July 2, 1844.

THE BANK CHARTER BILL.

had A deputation from the committee of joint-sto banks
9.. an interview at half-past two o'clock on Friday with
ir Robert Peel for the reirpose of proposing their amend-
ments to the Bank Charter Act.
-y-The dePutation consisted of Messrs. Jos. Walker,
lucent Stuckey, J. W Gilbart, Daniel Robertson, and
Oliver V,lO. W.
Mr. Walker stated the different points assigned by the
Ant-stock banks, and Sir Robert Peel very corteously
consented to the following important modifications ;
0 That instead of the averages of the two years as
riginallY proposed, the maximum of the future circula-
tion, shall be regulated by the average of the circulation
during
. the three months, February, March, and April,
Previous to the announcement of the mea,ure in parliament.
_2. That the future maximum shall be taken upon a
tet
stllthlv, instead of a weekly average, so that if a bank
° id exceed its limits in one week, it may reduce it in
the following weeks.
t g- That tireplace " in clause thirteen, be omit-
, S 0 as to allow banks to open new branches, provided
they do not exceed the fixed amount of their circulation.
the That the act sall not come into oeration so far as
country bankers are concerned, untilp the 25th October,
the period when the bankers' annual licenses are renewed.
The deputation urged Sir Robert to permit, that when a
°Tlon took place between twojoint•stock banks, or a joint-
!Pck and a private bank, the united bank might issue to
e
united amount of their previous circulations. But to
this
he obj,cted, on the ground that the whole circulation
L. the country might then fall into the hands of a few
4airee companies.
at
ljr• 'Walker expressed the satisfaction of the deputation
cconcessions which had been so handsomely made,
and still
still entertained a hope that Sir Robert would
reconsider the subject of the union between joint-stock
oftenrivate bankers as he considered such unions might
prevent banking failures that would inflict great
distress on the country. Mr. Walker expressed the
satisfaction of the deputation with that part of the bill
which placed the *oint-stock banks in London upon an
equality with other banks, in regard to the right of accept-
ance.
haTifhe. concessions made by Sir Robert Peel will add above
million to the country circulation, and by the
I!7l3ne°unrtrl'illg, insteaderat of the weekly average, the danger of
ies will be wholly avoided.' We have no
.doubt the banking interest generally throughout the coun-
try will feel greatly obliged to the joint-stock banking corn-
mittee for having obtained these important modifications,
and we apprehend that the bill will now pass through
Parliament without any opposition.

IF 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 the British consumer—will 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
be very great gainers indeed by the changes; although
the withering effect of the distruction of the agricultural
classes would, in the end, cotne to react on this temporary
Prosperity of the manufacturing classes. But could the
Manufacturing operatives, or any class of labourers, keep
their money wages up at the present level if a permanent
reduction in the price of the necessaries of life had taken
Place ? Nothing is clearer than that they could not.
Tfh e -
tb(!uey rate of wages, wholly independent of the price
provisions from year to year, is entirely regulated by
If
t2other things being equal, from ten years to ten years.
PIT the free importation of foreign grain, the money
Price of it is reduced one-half, the ultimate result will be, that wages will fall one-half, also. It is impossible it can
!)e otherwise ; for even if the reduction did not ensue
fro otherwise any other cause, it would inevitably be brought
snout by the great impulse eiven to population, and con-
_setlaen.t multiplication of labourers under the influence of
cuandirninished money wages, and augmented ease of cir-
_ instances, as
ndof an increased durable fall in the price of
ss a r i life.
Past history and present experience alike concur in
demonstrating this important fact. In the time of the
sh?,,rPan Conquest, the price of wheat was from three
- 'lungs and sixpence to five shillings a but
u_evertheless the labourers had not half the command of
he necessaries and conveniences of life they have now—
Ir the money wages of labour were a halfpenny a-day
lar4.the remainder of the year, and a penny in harvest.
il.,ans are incomarably cheaper in Poland and in
sionthan in this country; but are the Polish and Rus-
ts tils—asaets half so comfortably fed, lodged, or clothed,
te eerreePonding classes in this country ? Every one
.ows that, so far from being so, or obtaining any benefit
rnhuvantterver from the cheap price of provisions in their own
9, they are in truth, the most miserable labourers
".411!.°Pe, and feed upon scanty meals of rye-bread,
.in
e midst of the splendid wheat crops which they raise
for the ixiore opulent consumers in this country. In the
southern provinces of Russia, wheat is often only taen,
sometimes but five shillings a quarter. from the total
Rant of any market. But what is the consequence?
y. that wages are so low, that the Cossack horseman
:e" WY eight shillings and sixpence a-year of pay from
`"ernuaent. 'Wheat and provisions of ail sorts are much
thcheaper in Ireland than in Great Britain ; but, never-
meeless, the Irish labourers do not enjoy one-third of
co ...
mr°,,s or necessaries of life which fall to the lot of
aretheir.brethren on this side of the Channel. Their wages
sixpence a-day. Thence it is, that when once they have
are out of Ireland, so few will ever return to it. Provi-
Asions of all sorts are extravagantly dear in every part of
merica Hi Canada, and Australia ; but, high as they are,
e wages of labour, from the rapid growth. of these
colonies, are still higher, and the condition of the labour-
ing classes is beyond all precedent prosperous and com-
fortable. The mere necessaries of life are sold almost for
nothing in Hindostan and China ; but, so far from
obtaining any benefit from that low rate of prices, the
labouring classes are so poor as to taste hardly anything
but rice and water ; and wages are so low, seldom exceed-
ing twopence a-day, that every sea-boy, foot soldier, and
horseman has two, and every native three attendants to
wait upon his person. Examples of this sort prove how
extremely ill founded is the common opinion that perma-
nent low prices must necessarily produce comfort to the
working classes, and tend to show that Dr. Adam Smith
Was much nearer the mark when he said, "High prices
cad plenty, are prosperity : low prices and want, are
misery."—From Mr. Alison's Pamphlet on Free Trade
cad Protection.

SPORTING INTELLIGENCE.

TATTERSALL'S, THURSDAY.

THE LATE DERBY.
Pursuant to the judge's order obtained on Monday last,
MColonel Peel's solicitor, accompanied by Mr. Field, Mr.
uaayor, and other veterinary surgeons, and several per-
oilafor the purpose of identification, proceeded to Ep-
zinityesterday, with the intent to see and examine Run-
-11°,6i nwin Full particulars of what took place we have
tii;nueeo able to collect • but it is stated in the subserlp-
Wasl.:s°ln, that Mr. A collect;
the owner of the horse,
not at home," and, on application to the trainer,
Order —,lll'th,) he refused to show the horse without an
usuai "om the owner, thus exposing himself to the
refu-JenaltY for contempt of court. The effect of this
2, taken`as to increase the odds on Orlando from 5 to
several times in the early part of the day, to 3 to
= ottered.

GOODWOOD STAKES.
9 to 1 agst The Duke of Richmond's Red Deer.e—
-17 to 1
~ Mr. Meiklam's The Best of Toret.
24 to 1 ~ Mr. Johnstone's The Era-
-20 to 1 „ Mr. Irwin's The Pride of Kildare.
20
to to 1 ~ Mr. Greville's Gunter.
20 1 „ Sir S. Spry's Subduer-
-2
25 to 1 ~ The Duke of Richmond'ssTl t.
Currier.
25 to 1 tl Mr. Brooks' Ajax—t.
25 to 1 Lord G. Bentinck's Croton Oil.
The betting was too slack to require any comment.
ST. LEGER. 4 to 1 agst Mr. Salvin's The Cure.
Bto 1 Mr. J. Day's Ugly Buck—t.
9 to 1 ~ Lord Stanley's lihuriel—t.
10 to 1
to 1 ~ The Duke of Richmond's Red Deer—t.
33 to 1
33 „ Mr. H. Robinson's Morpeth—t.
„ Lord G. betted'Betincks Devil to Pay—t.
We quote the prices last at New Nothing
was done yesterday.

DERBY, 1845.
31 to 1 agst Mr. Delme's Alarm—t.
40 to 1 „ Lord Exeter's Golden Fleece—t.
40 to 1 „ Mr. —'s Columbus.

THE LATE OAKS.
The following notice was stuck up yesterday in the
subscription-room at Hyde-park-corner :
" Messrs. Tattersall are 3esired to state, that Mr.
Lichtwald's mare, Miss Julia, who ran in the Oaks this
!ar, has been examined by a veterinary surgeon, by de-
Ilre of Mr. Forth, has pronounced her to be a four years
old this ear.
Juney 27, 1844."

MANCESTER, FRIDAY.
toolalle attendance was H
so limited that the subscription-
and was not required. We did not hear three bets laid,
fill up by giving the prices accepted during the
Liverhln Public and private upon the candidates for the
to..tunr°°l ; but strange alterations may be expected
vtl.°Wwhen the weights will be on the tables.
25 t LIVERPOOL CUP.
° 1 on the field.
to
dagstt Parthian, by Jereed, out of Cyprian, 4
3c7rB 01—
,„ to I • ~ Pagan, by Maley Moloch, 6 yrs old—t.
1,4 to
, Yardley, by Sir Isaac. 4 yrs old—t.
46 , Eboracum, by St. Nicholas, 5 yrs old—t.
"" Best to 1 of Three, by I 4
nheritor, 3 yrs old—t.
What, by Jereed, yrs old—t.
bag GOODWOOD CUP.
to 1 agst The Squire, by The Saddler, 6 yrs old,
Bat
_off.
ORLANDO V. RUNNING REIN.
0.,-,44ist offer on Tuesday was 50 to 25 on the letter

me
h„ ST. LEGER.
nte folio-ye not heard one bet this week. At Newcastle
4 to Vng Prices were booked :
6 to 1 agst The Cure, by Physician, out of Morsel.
tom. The Princess, by Slane, dam by Phan-
IV°. 131 Ithuriel, by Touchstone, out of Verbena.
att:Aornsby has sold Revoke to
u be put to the stud at Northampton.

itti:erclekford, whose abilities as a calculator of odds were
ooqualled, used to say, that five to four were the greatest
td;l that the very best cause, pleaded by the very best
%ate, ought to induce any man to bet in its favour.