The Statesman.
London, England, 1819-05-12 00:00:00

" Your Committee would here clove their R. p it,
if they did not think it necessary shortly to advert
to the eirceletion of Country Ranks. The soles of
all Shove establishments ate eschangeohle for the tooter
of the Rank of England. As • part of the cermet,.
therefore, loy roost he effected by tiny decteetion in
eale•to which Blob of Eggland notes are now liable ;
sod, conorleently, will be alike secured from such
dectuation, by soy arrangement which will effectual-
ly plate and maintain the latter upon • par with •
metallic standard of valor. Although from this lie*
of the subject, your Committee are led to the con-
desk., that there Lim be *titian/4 in the eaters of
the eirculatioo of Country banks, which can tow
en obstacle to the grades' resumptive of Cash Pay-
ments upon the plan which year Committee have
seggested, they have made it their endeavour to as-
certain the probable amount of diet &Weibull et
different periods; though they bate to regret that
they base not been able to obtain as precise and fell
information as might be desired.

There are not sufficient data from which to weer•
loin the amount of r •otry behk notes at any one
titre in cireulation. Yost Committee called (or ac-
counts from the Stamp-Ace, of the timber of pro-
missory notes stamped iu such successive cleaner,
from the your IMO; end es these accounts show the
number of soles stamped in each of the Llama into
which they lA* divided, according to their several
denorniitations, If the nominal value of each is as.
seined, for the sake of calculation, to be the highest
which such note could bear accord* to the stamp
offited, the total amount stamped in each year would
be as follows :-
1114 L10.Y56,41 I
IRIS 11.24.9611
1111 t, 7.tt59.921
1311 pis
351 s

" If then notes on an average circulate for three
years, the highest aggregate assoont to shads they cats
Irate leached, 11629,432,8701.
" Yost Committee are led to conclude, from the
information of Mr. Lloyd, that the whirl.* aannent of
notes stamped, which still remain in such a state as
to be circulated, can ha" been at ante in Cie-
cotillion. Belays, r a banker may hove 50,000 notes
lying by hint ; his having paid the dots, end having
the Dotes ready, by so wens prom tit .t they sr- so
circulation. Sometimes there may be • very rge
amount locked op by him, at other limos rho., way
be almost all its circulation. In time of tastes, be
takes care to hate them as moth at home as plokihito ;
is time of prosperit♦ and general cunustenee, he has
so hesitation in haying them ow satisfactory security.'
'6 Mr. Lloyd impressed an Opinion, that the isi.ue
of paper by the country banks might be from 4u to
50 millions ; bat your Committee are rattier led to
infer, from the general tenser of the infortneann be-
fore them, that the amount of thh branch of the paper
circulation, throughout Great Britian, has Deter ea.
ceeded from 620 to 625 millions.

" Whatever may have been:the amnunt, it appears
undoubtedly to have ten liable to peal Iluclutitiona,
as may indeed be inferred from the account of the
clamps before alluded to, bet with mere certainty
from 'tenants famished by theatre* chartered baulks
of Scotland, representing the proportions which the
quarterly averages hear to each other, of the respec-
tive circulation of each bank at three corresponding
periods ; the welts by which the circulation of these
banks is tires shown, establish the degre► of the pen-
pnitionate variations in each respectively ; but it is to
be observed that those scales, being cm:wooed ■pose
different data, afford no means of comparing with
on. another the actual amount of their respective
issues.

Lag thinner, Third Qoar. La•s Qom.
1516. WS.
British Lion, Cimpaay
haat of Scotland....
Royal dank.... 7S! 987 1,131
As a very large part of the currency of Scotland
is furnished by those hints, it mast be inferred from
the preceding scales, that whatever was the unmet at
the close of 1813, net less than one.third had been
withdrawn frogs circulation its 1816, since whichl
period an equal amount has been re.inued.
" A nucleation, corresponding with this in point,
of time, and at least, equal is degree. appeals to have
taken place in the paper inset, by the country banks
in England. The number of these establishments
licensed in 1814, was 930; in 1817, was 753.
i‘ Mr. Lloyd stated, that the circulasiu of the
country banks was at its highest in 1St:: and 1814,
bat was considerably reduced in 1816, and the be.
ginning of 1817 ; and being asked as to the ■mount
outstandiog at the latter Oiled, when compared
with the former, he answered, L can hardly say ;
should think it was reduced nearly one.lllll.'
" Your Committee were tarnished by Mr.
Stuckey, with the following mile of the cite/dollen
of a considerable coootry beak, for the last fear
years:—

Martb ISIS - 10
1817
- 1818 - 18
- /11111 -17 e
Aod lwalwr iorometlea ow 110 e maw subject will %Plowed is
lie ...Weiler d Mr. John Smith. a Member of the UMW, Mr.
Bomael Gurne), and Mr. lillebria.
- - -

•
" Mutterer may ►ate bore the &amities] in the
amount of the circulation of country b..siks in 1816
and 1817, it was net in any degree caused bye di
minutia' of the issees of the Dank of Lighted. The
circulation of coestry paper is liable to be effected
by went of confidence, generally brouglit on by ex-
tensive failures in some of those establishments, Red
the remelt of which is, that other country banks,
I however solvent,perticipete more or less in the gene.
tel discredit, end are obliged to restrict their issues,
from a trgard to their owiseecerity. In the opinion of
Mr. Took., A like ofect is sometimes produced,
and in a much greater degree, from the discredit of
their customers, to whom they ere in the habit of sd•
renting money ; most of their Customers being holders
of articles nhich are liable to be affected by a g I
depiession of price.'
" Although there may ►e reason to infer frot♦s the
opinion of the witnesses most conversant with the
management of country beaks, end to whose evidence
poor Committee he terve to refer, that a reduction
in the amount of the notes issued by the task of
Eliglatid would speedily and *** rily be followed
by a proportionate reflection of the country batik
piper ; still, it most be 'divines that, Independently
of that cause, the latter is ha le to • saddest and
Mel), iutoutenirtit contravioo, mmiPf such circuits-