The Statesman.
London, England, 1812-03-18 00:00:00

memare.
Mr. 0.,11)/INSTONE opoosed the motion, brit
was of opinion that the-840k were not the Maier.
of the Minister, bet that the Neter lees the Master of
the Dusk; and that the blame ley net with the Bank,
but with Parliament, which bad brought them Into,
their present sitar ion. He it quite ueces.
guy that the assets of the liblittlithe ascertain-
ed, that it might b• me what'
tomato*reount of their i
disposable foods weld,as collipird debt die ,
to them from Goverionseot. It would then appear,
that theybeid at this moment notlesstnan 7,50010001. i
la Exchequer Pinta ; sad it was for all men who had
property to look now to the solvency of the Govern•
smut, rather than to that of the Beak. He was coil-
winced that the Bank, if left to the exercise of their
own discretioo, would bare tried the experiment of
lessening their isaues.last year; but they were pressed
by Government, which had become embarrassed, by
the deficiencies of the late Mr. deldsmid.
Mr. MARRYATT observed, that the Hon. the
Deputy-Governor of the Back bad given an extra*.
dinary reason against the motion—that It was not
agreeable to the Bank. Re believed that the course
we were now treading was most dangerous. One
step lei to another, and' brought still nearer to an
extremity. The Ilonosrable Director was now wil-
ling to approve of this additional step, aithoegh I
only last Session he bad objections to it. Before the
suspension of payments In specie, the interior regu-
lations of the cuucerns of the Bank was materially
different. They never; precious to that nufortuoate
era, kept any discount account with other Bankers;
he beliewell there was now scarcely one with whom
(hey did not tarry on these transactions. So coin-
Plettreeolotiooilied was*, whole system of bank-
ing, t What vas formerly deemed a remarkable
sweet fit to be regls‘erk.d in chronological tabtes, its
was the case with the insolvency of FordyconneCo.
was became no longer _extraordinary. Within the
last eleven years there had been minietilares
among London Bankers? and he would un eto I
chew that every one of these insolvent houses :had I
kept a discouot account with the Bank of England.t
lie knew, Indeed, that the Governors and Directors '
were bound by an oath, bet it was an oath which I
related only to their duties as members of a corpo-
rate body.
Mr. BARING admitted that the system at present
pursued by Government, that of borrowing from
year to Year without reptintent, must, If continued,
lead to ultimate &Analog ; yet he trusted that
some fortunate change of circumstances would ec- i
co to avert the. thowatenikg evil. The truth WAS,
that the Baok had it not in their power to pay .their i
delpt, tank haring snicker isuhioh in their posses- 1
Meu, and it was useless to endeavour to make them I
attempt impoosibilitiess As, however, the _object of 1
this Motion of subMquent prolseedings to be founded
upon it, wade bete dholrbk the means of Govern.' I
meet to protiecate the imports* contest in which we
wag MVO, Itud at It would teed to excite distrust 1
in the amesstry of the solvency of the Bank, he
could net Sink_ his empilleit.
Mr. 111/1111110 • shottir opposed the Motion. I
Einl.
Mr. ASSACUJO to tali the attention
et the Remo to the ion made by au Rom
Bank Direoor (Mr. Burl ' lie acknowledged alt
Parsirraloor•ki the jest is Agni would be attended
with thp sdilamito pla if the country, and yet be
contendekoet medfkilivering In it would be equal•
ly de veld provent mimes vi-
LET 'As mar. ,rely, whoa- audit
sumlAt
of 10 web Involved themselves in sea
evident - ' *mos mmeseable that sore
taquill =Milo There was no guarantee
'hat *0 - En gilkedeloald not either increase
their ihit or Magni* the small apaantity of bullion
resat indmir boob. When to time circuits-
starmatiras.subjolued, the declaration of the Deputy
Governor of the Bank of 11141apd, that every tarsej
of land in the country was pled for the poymeat 1
of their notes, be thought there wield be no halts.'
lion Is appointing the Committee.
Mr. MANNING explained, that he hod skid 001
his own hied as well as that of every other prOpeledyt
was answerable in a due proportion for the pireed
of the Exchequer Mils, which was a public debts'
the nation.
Mr. BARING explained.
Mr. TIERNEY, in reply, insisted that the issue
of Bank-uotes had been greatly augmented since the
year 1797, and as Exchequer Bills were secured by
the notes, the landed property of the country was
pnt In jeopmrdy at the will of the Directors of the
Rank of ngland. He begged to know if the other
side of 'the liaise would consent to the production of
an Accuunt bit* n lug the quantity of Exchequer Bills
puntased by the Beek of England from Govern.
milt itt the public market, which had been hitherto
withheld I
Mr. PERCElrdirdasied that the 'aided property
ores imutalry was at all Asked bylExchequer Bits,
width only ofoktotal ti 'between 44., and 44 mil-
lions.
.Aser $ Jew yards from Mr. Tiertsei 'the gees- '
~ ?
deo waiimarptived without a division. ,
14r. T. ' -thee moved for " Ad Aecoent it'
all Milus dleided by the Rank of Englaref from the'
3th of Jamem747-IR, and 6th of havary 1812, dis-
titico& per."
.IirdANNiNG sod Mr. BARING opposed
ehe satiation- dergrested thatureh a disclosure ce-'
be attended lA* nopeNic benefit.
Mr. HARBAM and Mr. GRENTko-
it. The amount of besuasinee the yeas 17‘
per cent. On the mo:_el.
Mr: M AR/O%IW
charter - Bent-
spietli

1-

31