The Statesman.
London, England, 1815-06-14 00:00:00

MOUSE OF COMMONS.

The City of London Courts of Justice Bill was read a third
time. nod pii-sed.
Papers were presented from the flank of England, pursuant
in the Order of the House, and on the motion of Mr. GRLN-
FELL, ordered to be printed.
The Dia, Casio's& Bill was read a second lime.
Mr. R. SMITH gave notice of st motion for Friday next,
relative t‘s oar possessioa of the island of Banco.
Mr. PEELE ni.ored that the Irish Master of the Rolls Bill
should he read a se. oad time on Thursday.
Mr. Y. BLAKE entered into a defence of the object of the
Bill.
• Mr. HORNER re-stated his firmer opinion, that the dis-
posal of any ollice within the patronage iif the Master of the
Rolls in Iselaod for pecuniarr comideratian. was a gross trea-
',amble misdemeanour, without, however, meaning to impute
such an offence to soe present Master.
Mr. PONSON BY and Mr. PELLE said a few words.
The Irish Spirit and Paper Regulation Bills were severally
rend a Seemed limes and ordered to be committed to-morrow.
On this.mi,tian of Mr. FITZGERALD, the House resolved
Itself into a Coatiolttre um the Irish Distillation Acts, In which
a Retolation was agreed to, and a Bill ordered to be brought
in hectirdingly.
Appie..tiee Laws Amendment Bill was read a secoad
time, isai tottered to be printed.
CROK ER 'sowed for leave to bring in a Bill to enable
the Crown to acqitire ground requisite for signal stations.
Ur. i.Y Inclined to think such a Bill at the present
quite tioneessary.
Sir E. BRYDGES moved that the Pauper Removal Bill he
recommitted.
the Committee, after some discuss's', Mr. F. LEWIS
rooted that the Chairman do quit the Chair, which was
carried.
BANK OF ENGLAND.

Mr. GRENFELL, in rising, declared that it was
tot his wish now, nor never had it been his wish, to
disturb any contracts subsisting between the public
and the Bank of England. Neverthelesi, he felt it
incumbent upon him, and even due from iim to the
House, in consequence of the papers granted upon
Ids motion, not to let the present Session pass away,
without endeavouring to lay before them a combined
view of the situation of the Bank to the public. He
felt it his duty to do this, not with a hope of his Re-
solutions being immediately agreed to, but with a
view of enabling the House to make improvements in
the system, in the course of the next Session. The
mode of doing this which appeared to him the best,
was to submit to them certain Resolntions respecting
the facts, which appeared in the papers that had been
granted. He should, however, preface those Resolu-
tions by some few observations. lie should first de-
clare, that neither in the origin nor the progress of
what he thought it his duty to the House, had he
ever been actuated by any unfriendly feeling to the
Directors of the Batik, nor by any wish to abridge
the fair and legitimate profits of the Bank of Eng-
land. As to the Directot a, he felt the greatest re-
;peel for theta individually; end, as for the Bank of
England, he was as sensible as any other matt of the
great advantages that the public had often derived
from the Bank. The more, however, that be con.
sidered the subject, the more he was convinced that
all those advantages might and ought to be obtained,
without calling upon the country for such great sa•
edifices in return. So far, however, from throwing
any censure upon the Bank, if any censure were due,
it was rather upon his Right lion. Friend (the Chan-
cellor of the Exchequer), and all thi.se who had held
that situation for the last SO years, that he would be
inclined to cast, it.. They bad afforded to the Bank
too great facilities for their demands; and when
those facilities were held out, it was not to he sup. I
posed that the Direcxers would be hack ward in avail.
ing themselves of them. He should divide his oh.
servatious into two leading branches. The first,
with respect to the deposits at the Bank ; and the
second, as to the charges made by them for the ma-
nagement of the public debt. In the first place, as
to the deposits, it appeared by the very able and lu-
minous Repott of the Committee of Public Espendi-
tore, that the balances in their bands as deposits
amounted in 1107 to 11 millions. When he stated
some short time back, that be did not believe the de•
posits were less now than they were at that time, he ,
was told that this was in exaggerated statement, for

*bat they had materially diminished since that time.
It, however, appeared now from the accounts pre-
sented, that in the year 1814, an far from a diminu-
tion, the deposits had increased to 11,966,0001. He
believed that it would not be denied that those de-
posits were at least as great a source of profit to the
Bank of England as they would be to private bank-
ers. He believed that they would be, must be in
fact, a greater cause of profit to them ; as private
bankers most always keep by them a certain portion
...- of unproductive capital, when deposits were left in
their hands. The Bank of England, however, was
not bound to keep any unproductive capital to meet
their demands ; they had only to be provided with
pen, ink, and paper, and then they were prepared for
"fly demand. Now there occurred to him two modes
I ,which justice might be done both to the public and
to the Bank. If it could be ascertained what was a
reasonable deposit to leave in the hands of the Bank,
merely as a compensation for their taking the trouble
of being bankers to the public, he saw no objection
to their being obliged to lend the remainder to the
country without interest. If the deposit of a mi/lion
its their hands was conceived sufficient (and he was
sere that any private bankers would conceive it
2hondaatty sufficient), then, he conceived that out of
the 11 millions deposited in their hands, 10 should
be lent to the country without interest. There was
smother mode which was very customary with private
bankers in Landon who corresponded with country
bankers. A certain deposit was left in their hoods
as a compensation for the trouble of doing the busi-
ness, and after that they kept a regular account, and
;mid interest on all balances exceeding that sum. A•
average deposit of 11 millions in the Bank of Eng.
laud was, however, giving that Corporation a profit
of between 5 and 600,0001. a-year, merely for the
trouble of acting as hankers to the public. Tho barn
statement of sucb a sum must et once convince every

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