To The Proprietors Of Ban...
The Times, 1824-03-01T00:00:00

baOtcs antd (Uenticincn.-Nothing but a spirit ot' perseverance in anl lhonest and just cause coult irnlduce me to address You again, ,after the repeated endeavours I have il vain mladie tO exCtte your at- testi(r; to thlc ilustice done to you by those whom vou have cx- pre'lI appointed to act as stewards, in the Management of' that trade ot' which yvou are the co-partners, andl ot' whicii, therefore, vtu aire surely entitled frons tim:ze to tnme to receive an account of its state, its condition. its loss or its profit. But th;ough to give an jaccount of a stewardship is a luty enjoined by divine authority, not the lettst reLzird is paid to this mornl obligation bv vour steward,s wilo notonly ntglect to produccror y-oursaiisfiaction at-y-account. but i shen called upon for it(as they-have repeatedly been of late), unblttsh- ily in opcr Court t:urn a deaf ceLr to this call, and treat thoee who make it with indlifference at least, if not corntcmot. But this un- ust,S ins tosolent dcotiance of *your ciaimils, (supported as they are bv the svtrtt of' the charter, hy tw o arts of Parliament and one bv-law. by the exampic of thc sco6ite banks and by tthat of France) nnust vge' was' in t trm,tuert, if Yoe had but the proper spirit to resent jusucei co t-t from those w'honm you have actually placed it thlcir , stuation, and who possess no poaser but what you have given, and of course ran take fronm them. This they know, but tltis thev do not ieel; bcause, anionur other instanres of anataly and indifference ! wfiicIt you havc shown, you have tpaid no attention vhatever to the mode ot appointing the Directors of the Bank to their offices, btt have sttf"ered then in tfa;ct to appoint tltc:nselves. Even if a vacancy liappens it the cotur'e of the year. it is not fillecd tp till the annual election conics round. ot'u are kindly saved the trouble or gratifi. cation, call it wrhich you please, of that cotirteotis, that humble soli- citl.tion, w,hich takes place ir, another great trading company, when a M-ector's seat becemes vacant. o- even lot;g before it is sn. These are general obscrvation, affccting youi as Rank proprietors; but I proceed tostatc to you a parniculatr ma;ter, to which I request Your attention. VoU all know, ard m.any of you I fear tLave cattse to lament. tilat at the haltvyearly v Court held bi Marcht, 18'13. thc livideiid for the prv ;:cdine hali .Year wa^ls redu)(ced fromi . to .1 per cent. . bu t t-o those wl:o wcrc not present at that Court, it mntv not Ie known (ter hIiman in intaaiionl could sc.arcc sulpp.e S\lCil a t:lSC) th:.2 this dii)lli;lttion of income was Nuimilvai,r,ouniccd hv u)e (;overtior, without thelcast ex. plantion of wv.hat hadl occasioned it. or anuy exprcssiotwof regect for the disappointmient necesiarily resulting trnoti it, to those poor wi. doiws, spiosters, and orphtans, who! were thus leprived of1' fifth-part o` their ittcomttt. To cortect this evil as far as was in toy poner, I moved for an increaseot' this dividetind frottm 4 to ; per cunt., ant, supportcd by eight otlmcr Proprietors, demetanded a ballot, which took place il a few davs; and though, for want of energy in the general body of Proprictors, it was not succebst'f,e yet our minority of 160 was respectable, and evidently showed that there were a numitber of independent Proprietors, who had sense and spirit enough to comie forvard in sstpport of their rights. At the Court held in Septem.ber, 18'23, a sitlnilar reduced dividend being proposed, I moved for an in- crease. anid demanded a bhllot ; but k unluckily happened, that though there were in the Court eight other Proprietors who vere 1ssirotusof jointn nic in the detnand. they were not quick enough in offering their assistance; and when they came forward and I in- formed the Governor of it, lie told tue " thcCourt was closed." Had the 14th by-lawv, which reqttires the secretary to rcad au account of the proceedings tif every (;eneral otourt, beforc the Court is adljourned, been cotmplied with, the ballot woutd not have been lost- From any opinion I can iform on the subjcet, I apprehend, lIadies and Gen- tlemen, that at the Court to be held in the costrse of this month a liminution rather titan an increase of dividend will be proposed; but if it is uander 5 per cent.. I shall certainly move for that amount, and flatter tnyseif I shall find a suffiLCent nutmber of Proprictsrs to secure a ballot; and should tthe ballot take place. it is devoutly to be wvished that Proprietors may even come from a distance in support of their rights. English women as well as English men will do themselves credit by supporting the natiottal character, and showing the Direc- tors by their votes, that thley will no longer submit to tyranny and oppression.' Every Proprietor of Bank stock is requested to consi- der and re-consuler t[ie followin4 pa."age frotii the late M Ir. Allar- dvce's Treaifsc on Batnk Ahir.rs :-" Having considered yous arti- se.e of co-partnership, viz, your cltarter, your bv-laws, and the acts of Parliament which relate to the Bank, I entered into partner. sitip with yost, under a conviction that I should, twice a-year, see a statC of oir aflairs, not that I should twice a-year receive tmy propor- tion of thc net profits. If you do not show me a generai state of our debts and credits-if you de not give me ani account of the in- come 3nd expenditttre of the last half-vear, and also give me my share of the prolits of the last half-year, 'I do not think you do me justice." I am, Ladies andGentlemen, you- most obedient humble servant, 4 NATRANXIBI GUNDRY, 'Richrmond, Ptnrcwh 1, ToS24. TO THE PROPRIETORS (1F R 5ANK STOC.K