The Statesman.
London, England, 1823-02-19 00:00:00

1,• pot the linnershle Gentleman in mind that the ba-
lances had been twice reduced since the renewal of the
tharter. Soon after the renewal the Bank had agreed
to allow three millions oat of th., twelve, and in Ibl9 a
I.ill had been brought in to reduce the balance other six
soilliont. It thus appeared that since the renewal of
the Charter this sacred subject of balances, which the
llnnoorable Gentleman had considered as closed by the
I'lisrter, ha.' since then been reduced nine millions, or
three fourths dB, amount. It had been argued, too, that
the cam of 7.1 or 8.1. in the pound was but a small sum ;
. but it should he recollected this was charged on a rave-
. tine of sixty millions, and brought about 270,0001. a
year to the Bank. He would submit to the House whe.
;her this was or was not disproportionate to the service
hich the Bank rendered ? He hoped that the Right
Jonourible Gentleman would not object to the appoint-
meat of a Select Committee, and he (Mr. Grenfell)
would pledge himself to submit a plan by which the
business would be as well done, and 200,0001. a year
saved to the public. Yee, that sum could and ought to
be saved to the public. He hoy.sl the Right Hon. Gen-
tleman would consider it. If a Committee were appointed
and he should move for one, be would pledge himself to
what be had proposed.
Mr. BARING and Mr. RICARDO said a few words
in explanation.
Mr. MABERLY contended, that though the Bark
only received nominally three per cent. in the fifteen
• millions they bad lent to Government, yet it really re-
cries 41 six per cent., because other fifteen millions in
paper, which Cost the Bank nothing, was put into circn-
fatten in the payment of the Exchequer Bills at the
some rate of interest. With regard to the balances, the
Chancellor of the Exchequer ought to ascertain whether
.the charter was binding for the whole time of the re-
newal. There were many of opinion that it was not for
,the whole, end therefore be would recommend the Com-
mittee.

Mr. HUME rose to throw out a hint of the probability
there wasof Government making a profit of a million and a
altby becoming theirown bankers. With the m anagemen t
of a revenue of 60,000,0001. and an issue of 20 or 30
pillions of paper, which they would have the means of
issuing, he was confident they would effect a saving to
the amount of 4 millions. He hoped this view of the
apseetion would be that taken by the Honoutable Gentle-
man who at prevent held the situation of Chancellor of
the Exchequer, should he fortunately survive the present
Charter of the Bank Ca laugh]; he meant, if he SUrtiveil
it in his official capacity ' he trusted that he would, and
would assure him that if he survived it also, and ha I a
seat in the house, he would support the plan.
The motion was then pot and agreeed to.
Mr. JOHN MARTIN expressed a wish to he informed
whether it was intrn !ed tolay before the house an Acconnt
•of the Unclalmed Dividends? No such return had been
Made for the last eight years.
'she CHANCELLOR of the EXCHEQUER. advert-
ing*to tl e very short period he held his present official
appolntetelt, co ild n,ot take upon himself to give at that
moment any positive sinner to the question of the Ho-
noutable r.
Mr. J. MARTIN intimated his intention to make a
subsequent motion on the subject.
Mr. MANNING said, he could inform the Honour-
able Member that the sithject bad been under the camel-
'stet 'don of the Bank Directors for some time, and that
an order had been issued to prepare such account.
Mr. GRENFELL, io reference to the legal opinions
that bad been given to the claims of the Bank, as to the
rate of management of the debt, could not admit that
These opinion, were decisive of the question. It was
ttne that the Lord Chief Baron of Scotland. Sir S.
Shepherd, when Attorney General, and then Solicitor
denerdl (Sir R. Gifford) were of opinion that the ques-
tion could not Auw be laid open. On that point be
should eentnre to say, that the opinion of no legal man
was infallible. Besides, in estimating the value of such
opinion, much must depend on thelvay in which the,
question was put to those learned Gentlemen. He de.
;tied that the case was put in the manner that it ought ;
and that if it had been so put, the result as to tilt it an-
swer would have been different. It was his impression
that the Act of !SOS did not close the question, but that
'it rental red open to such future revision as the interests
of the public should r, quire.
Mr. MANNING believed that Parliament would be
slow to undervalue the opinion °hoes an enlightened law.
yer as the present Lord Chief Baron of Scotland, or of
his Majesty's present Attornrv.General. At all events,
the case was not drawn up by the Directors of the Bank,
•nor with their privity • they, therefore, could not be
considered responsible it; but he must think that,
'after such legal opinions had been given and acted upon,
the house would out feel jus•ilied in making any altera-
tion. With respect to the 4,000/. per annum fur House
r%petters, he begged to re-call to the recollection of his
Honourable Friend (Mr. Gretifell,) that on a former
• c•tsittii that qitestion had been set at rest by the produe-
ti•tn of a document laid on the table of that house, and by
which it appeared that to that sum the Bank wes as
nwt, entitled as to any other part of its property. The
mutions were then agreed to.
Lord A. HAMILTON stated bit intention to revive a
notice of the 31st of July last, relative to the Magistracy
cf Scotland.