The Statesman.
London, England, 1818-04-24 00:00:00

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rIiATEgMAN: •

4001,11111 Y BANiCiILY.

Yesterday • itOnterotts Meeting of Cowin*
Bankers toot place at the George and Yellers Ta.
vern, Grabill, for the purpose of liking late toil-
sideration the Bill pending its Partientent, reqeirieg
them to make deposits is the Public Fends, or other
Government securities.
Sir W. ELrosto was called to the Chair. Be ob.
served, that the Meeting bad been called open a sub-
ject deeply affecting their interests, and stated that a
great number of letters had bees received from
Coentry Bankers who were enable to attend, et-
pressing their approbation of the object on obi&
they bad been semmoned. Raving briefly mead**.
ed that object, Sr W. Elford said the Meeting "Wad
be happy to bear the sentiments of any Gentleman,
and to receive any proposition declaratory of the
view entertained of the Bill in Parliament, by Mote
most seriously to be affected by the passing of that
11111 into a l.sw.
Mr. JAMES, of the house of Calton and Jame., of
Bitoritighasn, said he objected not only in the details,
but to the principle of the Bill. He objected to She
measure, as en unconstitutional interference with the
free trade of the country, and tending to deceive,
.irririer the presence ref offering a security to the P.S.
lie. The state of public and private credit rendered
it wholly annecrsaary ; and if there were grounds for
poahlisie a check, it should be made by the esthetes.
tial nvasl of cash payments, sod not attempted by
,a plan which must strike every 'one acquainted with
tho sus jibe', as detrimental to the interests of indivi.
duals, at the same time that it presented no petal.
Irility art being otherwise than a serious national evil.
The Public were the Nest judges of the responsibility
of the Country Bankers, and the option lay with
them to take their notes in psyment. The principle
emended to notes above the value of 11.; and the
transition from the piper of Country Bankers to
Government paper might be expected to be very short
indeed. Haring stated that the invitation held out its
the outset to the Country Bankers by the Chancellor
of the Exchequer, relative to this measure, was
coopted with suspicion and distrust, and tending to
abate the ronidence of the Public, Mr. James pro-
posed a Resolution, expressive of the light in which
the Meeting regarded the Bill in Parliament, namely,
as an attempt to injure free trade, injurious to the
`Country Bankers iu particular, and to the Public in
general.

The Resolution was carried unanimously.
A desultory conversstion took piece upon a se-
cond Resotutios, proposed by Mr. JAMES, in which
the expedient of the Chancellor of the Exchequer
was described as " uncalled for, and of no public
advantage."—From this conversation, it appeared
that these eaistei a very strong feeling against the
Bill in every respect—e feeling which spurned at
all comploosiso. Amongst the grounds of objection,
it was stated, that supposing the issue of a Country
Bauker to be 20,0001. in one pound notes, the first
thin; to be dime, according to the newly-devised
Pportn, would be to procure the notes, and got
them stomped •in the usesl way, which would take
5001. at the least : then supposing the deposit to be
merle in the 3 per Cent. Stock, the Bankers must
purchase 40,0001. wock In the 3 per Cents., which,
at go, the present price, would take a capital of
32,0001. money : he most then transfer the 40,0001.
stock to the Commissioners for the Redaction of the
National Debt, whs would then stamp the 20,000 one
pound notes, to testify to the world that they were
provided for by investment in Government stock,
and for which a charge of SOL would be made.—
Tbe notes would continue to be payable at the bank-
ineshouies in the country, or at the Bankers in
town, where another capital must be provided to
ply to them whets presented; thus a double capital
should be employed, otherwise the credit of the
Banker, as well as the 5001. paid for the stamps, and
the 501. paid on the transfer, would be all sank t
for, should the notes be presented for payment, and
then for want of another capital be assigned over
to the Commissioners, and paid by them, they would
be cancelled, and the Commissioners would sell
stock at the price of the day to replace the Um so
paid.
It was likewise oiled, that if, through any in-
foreseen causer, a wat should be In contemplation, or
the credit of the country lessened, the 3 per Ceuta.
would probably-be at dO, 1111 the !Moister supplied
might happen to hi the ease; or why should be re-
quire 2001. stock to be deposited to pity 1001 in
mosey ; the emotes:leek* of such a fill is the stock
would be a loss to the Banker of ene-fourth, or
180001. of the 32,0001. capital advanced to percbase
the stock in the first instance.

• The alternative of mating the deposit in Etches
quer Bills presented 'soother prospect to the Coon-
try Bankers very little more Cheering; for supposinf
the Exchequer Bills paid about 3 per. Cent., then the
first thing would be to purchase the Oaten and stamp.
'sin the first case, which would take 5001.; then to
purchase 20,0001. Exchequer Bills, the premium on
which would be about 2001., to which the 501. re-
quired to be paid on the deposit should be added,
making together 7501. to commence the issue of Oily
20,000 one.pooud notes. Then the 20,0001. Esche-
goer Bills were to be lodged with the Commissioners,
who would mark the 20,000 one-pound notes, to
denote that such a lodgment was made. By this
mod, the Banker would receive 3 per cent. only for
his capital thus advanced, and at the same time be
obliged to provide another capital for the payment of.
his notes in town or country, or both; or bh subject
Got only to the loss of his credit, hat also to the cer-
tain loss of the 5001. paid for the stamps, as well as
the 2001. premium on the Exchequer Bills, and the
501. paid on the deposit, and very probably a more
serious loss on these 3 per cent. Exchequer Bills; for
if the least appearance of a war should take piece,
these 3 per cent. Exchequer Bills would tety likely
be at 30s. per cent. discount, which would make a
total loss on the Exchequer Bills of 50s. per cent.
amounting to 5001., besides the 5001. paid for the
stamps, and the 501. paid on the deposit.
One of the Bankers, in answer to the obletratine
of another expressing his disapprobatioa of the words
which implied a censure spots the intention of the
measure in Parliament, said that the Resolutios only
expressed the feelings of the Country Bankers, sod
not of the Public. ile continued, the Country
Bankers did not call upon the Public to rate their
paper. It was quite optional with Waif and they

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more not hound to keep it longer Aso they pleaserie
?he feet, he believed, wet, their *it an underslindini
between the Bank of England add the Chancellor a
the Bseltequer ; and that Gentlelitill probably es=
petted farther secommodatlod. ,}eerie the apeiker
..Gn istertupted by several ih she robm )
TheCtea MICA IV depredated oh,- !Ishii rattily to cause
dislathfaction any whets, sod sugiititod that the Bel
Solution Obeid be ditested dr Opt, thing likely to
iii* tot cavil.
Mr. Petit', et Wells; geld that the °pintos of
Piety Gentletemb intrested should he ease. . its be=
dosed the Bill is Naiads's. was ?minded upon she
Injuries skiving frost iceldesual failures bf Country
Bankers sod he misfit', thought tbet a great
.boa
Reit *field take to the Psidies If Some security'
tool. be devised. In tisdkijoinit denternalkailin
had hod brims thd subject, ihe stools declared 11.4
the plan proposed was au iseptectitable one; that it
could het ue tairied held siren( without iOjorine dial
privileges. of Englishmen.—(daslowee.)--tif it did
appear ea etpedient measure, wit' fief* not biatilak
restrictions imposed upon biker Udders ? *Were not
the London BaukOrit end others Ilshlb to the sate
misfortune, the apprehension of which was said to
form one of,the great.grounds foi this ; and was
it beams* that misfottene had otcorred in the coon=
try, the mass of respectable Coantry Baukitri &Weld
be interdicted? Government might as well ask,
every Beaker and trader in England to give security.
(Applause.)—Were not the notel of the CQunfrt
Bankers peypble on demand, and should s liaerec.
ence be given to ewe class of creditors to the gres
injury of the rest? This was not the usual plan of
conducting Wash trade. It was in the very teeth
of every principle of commerce, and would be found
a complete counteraction of the object of the Chaos;
teller of the Escbeqeer, who bad himself tontissi.
plated a fall in stock to 50. llow then could 4
Country Banker be called upon to lock up his capi.
iii I. a commodity that might be depreciated BO pet
,cwt.(4oasise.)—With respect to the Circulatioat.
et true-pound cotes, it was well kith% n that no ton.
siderable profit was derivable to the Country Bankert
from that circulation. The principle on which lib
bad joined in it was for the accommodation of the
Public in his ne:ghbourhood, oho complained et tb
*eternise circulation of forged *notes of the Bank of
England, by which they suffered greatly, end wished.
es the only moans of reutedying that evil, thilt note*
of a similar amount should be issoed, by which thor
w 00.1 not be sobjected to lessee se 111h10111 and goo
ndyittg. It was indeed very problematical 'whettet.
or not the slightest profit arose from small notes*
considering the terraces attending the formationt
and the deposit necessary lo be left in the bands of
the London Bankers; and if this measure was car.
rigid into a law, it would cause a total discontittuancht
of the circulation of small notes, by all who bed
any regard for their credit..-leaving that brand'
open to desperate adventurerad—Vitpithree.)
Si. Joan, NORTLOCK agreed ib these: obso;rtetiesteo.
end stated that the Strongest alepition trig Ifoplied to
the Bill brought into Parliamest.

The words objected to in Ike' R•sotatien wet.
omitted, sod it was then canted eninimously.
It was aeggeited that • Deputation should wait
upon the Chancellor of the Eschogeer upon the sob+
ject, end it *assisted, that that Dintlemon had post•
pooed the further progress of the Bill. After a very
long conversation upon the proper mode of applying
to the Chancellor of the Exchequers . Resolution was
agreed to that the Chairmen should write letters to
Lord Liverpool aod the Chancellor of the &chequer*
soliciting that they would appoints tidy for an inteto
flew with a Deputation upon the subject, stud contain•
lug the Resolutions to which the Meeting had comm.
Previously to the passing of Ibis Resolution, Mr.
flown, who was one of those wise called the Meet.
log together, stated, that he had freqeent converse+
Lions with Lord Orton!, Lotd Compton, and seve►al
other Noblemen and Gentlemen, who completely
entered Into the views expressed 1 r the Meeting, and
had declared their determination to support the cep..
Owlets in Parliament. It was also mentioned tbac
the Chancellor of the Exchequer bad intimated that
he wished to have a communication with some Otis*
Country Bankers, In order to bear hoes them any,
objections they might have to the Bill.

NAVAL INTELLIGIINCE.
qtr. t3.—Came down from the River
and railed, the Caledonia, Tone, for St. Jobe's;
and Marianna, Allen, for the t ootb Seri.—. Ibentsin,
the Severn frigate ; and the kgith; Mitchell; free
Cot k.
Porrntoutst, Aram t3.—Passed down Chenneli
the Orwell, Lech ; Perseverance, Templer ; anti
Sovereign, for India..,Arrieed the Dotterell,
from Chatham; for St. Helena and the Cope.--aSoile4
the Locy Davidson, Campbell, for the West WWI
Isis, Turnbull; for Demerara ; and the Lord Ned.
icy, Richardson, for Quebec.
Cowan, Aran. 23.—Sailed the Prince Kotnsolk
Hifi, with troops NMI Albany Barracks, fur the Wed
ladies.

RA avitcti, A raq. W.—Arrived the Emily packet,
with Mails, ikc.' from Holland ; Castlereagh packet,
with ditto, froth Ceallevee; Diligent, Atkinson,
from London to Harlengeo, leaky,-aod carried away
ber boom.-;-Pat beck the Lady Nepeen packet, with
&c. for Holland.: - • -
&mains, APlLlL.23.—'the Dorothea and Trent,
bound to the North Pole, hone put back to the Little
Note this morning; the former with two anchors
broken t the Isabella, Capt. Sit .1. Host, has also
since arrivoil,,and the Alexander is at sachet jut
below the Nom

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Immlmila

Cons Etrv,axcs, APRIL 24,:—Wnsal trade 16411,T. is
rebseirous of 9.. it, b. fro., Moaday's priesa.•.-/Me Waft
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Inferior qusMriss ars MI
alteration.

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