The Statesman.
London, England, 1819-06-18 00:00:00

BRITISH B.INKING SYSTE.IL

TA. uni i esperienc• of all the Banks which
e'rilt, or have elistvd in Estop., evinces the ruinous
ron4.irrisets which have Invariably re.ulred from
0-n iuiug either 111. Government or print..
rtuala to tapper with the eminency ; while, by show.
ioz that the paper of She ilia...rent continental Go.
serryracnts constantly fell in valve as its (pawky was
increased, and row lo vats, es its quantity was di.
noinisherl, it affords a practical proof of she truth of
the theory otich teaches, that by sufficiently limiting
oh. qnsesity of paper money, its escharigeable 'elan
may be raised to any coreivabla patent. Thus lb.
sra,p paper money of the Empress Catharine, of
Russla, issued by heel. carry ou the war commenced
against the Turks in 1708, bore a false above its
'laminal par with silver, owing to the moderation of
the G • sent lo Its issue, and the mutation that
it should be received intend of specie in all the Go.
v-rnment translating; whilst the paper money of Don.
enark, owing to eternise loses. gradually boranur
s r iirprociated, that 1800 crown. in paper, fit 1813,
sure offered for one croon of 'doer!!!
Like the Yank of Venice, which had Its origin in
the year 1171, when the Veer/dans virri. hard pressed
by war, the Bonk of England owed irs origin and
its privilege, to the distress., of Government. It
was founded in 1684. Tho nriginal capital was only
1,200,0001., wriartgoged to Govornmont for an an-
nual interest of 100.0001. In a year nr two after.
wards its capital oat Increased to 1,400,0001. In
1700, the Bank obtained from Parliament ea &Isar.
once, that dogleg the continuance of Its Charter no
similar Charter should be granted to any Banking
Company established In England; end In 1108 it
*as enacted, that sot mono than ids persons should be
capable of entering Into any enrciation or
partnership for this peke*, of carrying on the trade
of hankers. This most Impolitic regulation has not
been repealed. The capital of the Bank of England
now amounts to 11,686,8001 lent In Government at
an interest of 3 per cent. and payable at the espies.
don of the Charter. The 1.13,,k-notes in circulation
an the 210 h of August, 1818, notooverell to
28.087.11051 , end ow Feb. 1 I. 1819, In 23,028,82(n.
In 1790, the Bank bed gold coin and bullion in its
coffers of the valor. of 5,619,0001.; bat on the MA
of Fehrsary, 1797. Ilse epoch of the Itystrirtinn,
the supply was fettered so low as 1,272.08/01. Wr do
not know that an account lons been parlished of the
amount of cash and bullion to the Bank at any sub-
sequent period.
The following is a brief view of a few leading
paints of difference betrayers oar present titivation
and that io •hick we were when the Restsiction took
Jas. 1707. J... 1519.
Ational Net Remise. ..... t111.771.m.. ‘19.519.1r9
lasereit of Pub* Debt ..... 11.844.407.. 49:068,11;
Sinking nod
Osionnwthe Votribequer Sills 13.Y111.MU 43.6,3,011
Itufewiled fhb( : ...... 5,416.1181.. 1,577,143

asihi;ncii..--(7;psiis. iate i;, --- ---- ----
- ------
17.517.9110.. NAM)
Bank of England... ... ..
Caloorft
1mp0rt..... .11.111JJUO.. 56.1R0.6t1l
firralatiog Gold (*sin
Beak at England Nolen 11.1111.430 15.1,56850
C ussery limits le Now WIC— la heam.i6Ll

" The spirit of enmity which had been wickedly,
for the mil posoposee of artful men, fostered here
against Ike "'reach, and perhaps in France seminal
us, and which was carried to seth a length as to to.
;erste the shocking eznression, natural eoemies,'
had caused en iovderote feeling of vulgar hostility
bottom, too nations, which, in all that make MO
estimable above the bros.', wire advanced far beyond
the other nations of Europe. This was a great step
towards making the tremolo popular, and to this,
and to other causes often noticed, was Wig added,
one which was certain of petitioning the most power.
fal *Beet in a country where, privy. above all
others, wealth is the most valued, and the must ef.
festive in prodeeing distinction, and fn course the
most sought after by means the least scrupulous. I
allude to the sudden increase of wealth, caused in.
directly by taxation increasing the valise of comon.
dities, and in many instances by a direct taxation. I
base space sal, to hint at this, and jest to observe
that this apparent national increase, and frequent
real individual Juries., of wealth, was far greater
than is generally 'apposed; it was the lant's of
Aliatlin end more than it; for it was often an indi.
sided reality altheegh a general fallacy; it 'Mend.
ed from the shop of the Weiler of salt and pros-
cenia§ to the warehouses of the rivets of the 'merchants
of Ti re, from the rob t Wanton of the earth,
to the roost opulent of the proprietors of the soil.—
I have rehl nothing of the numerous body that Red
no fization, nor of that extended line of corporate
loyalty reaching from Carlisle to Penzance in al.
lenience to the Minister of the day. Then it cannot
mite wonder that the war should obtain a consider.
atie portion of popularity. I have not a doubt that
if, during the continuance of the war, soy man in
Carlisle, In this very city, where the impolic; and
orlelmlnesa of the war is almost universally admitted
and its deplorable effects so deeply felt and lament-
ed, had declined to Illuminate his windows, on the
information of the Landoll Gazcile that the English
had killed 10,000 Frenchmen, and that the Forsch
had kilted 5000 Englishmen (chat a glorious sob.
ject for rejoicing 'ten if the accuracy of Gazettes
could he r!epended on), end instead thereof, had