T H E NEWSPAPER. 



with respect to those banks which have been issuing Bank of Eng- 

 land notes; and announced that the Bank of England was pre- 

 pared to enter into negotiations with other banks for arrange 

 raents under which its notes should be circulated by them. H* 

 bad been taxed with leaving his argument imperfect by an omi> 

 tion to show in what way his plan would let in the operation of the 

 foreign exchanges upon the home issues. Now, he considered 

 that when he destroyed the tendency to unlimited issue from 

 unrestrained competition, he removed the obstacle to the 

 natural and due operation of the exchanges. There had been th ret 

 great cases in which the currency had been endangered by the 

 refusal of the country banks to contract their issues with re- 

 ference to the foreign exchanges. These cases occurred in 

 1825, in 1834, and in 1838. At each of these periods the bullion 

 In the Bank was diminished to a very large extent ; and yet. In 

 the face of that fact, the country banks, at each of these samt* 

 periods, very largely increased their circulation, simply because 

 there were then high prices by which speculation was stimu- 

 lated. The consequence had been an alarmingly long list o: 

 failures among the private banks: in the one year, 1840, there 

 had failed no fewer than 24, of which 17 had paid no dividend. 

 It was easy to say that people need not take country notes ; but 

 the poor could not help it. He then gave a series of instances 

 of unjustifiable issues by private bankers, terminating in their 

 own ruin and that of multitudes of confiding poor. He had be 

 lieved that there was a general persuasion of the necessity for 

 putting an end to such a state of things. He was anxious to put 

 an end to it safely; to encourage arrangements between the 

 country banks and the Bank of England, and to discourage the 

 existing system of coining credit into currency. It had been 

 pressed upon him, that legitimate accommodation to the agri- 

 cultural and other interests would be precluded by this altera- 

 tion ; but no country bank could issue notes even now in the 

 district within 6s miles round London, and yet that district suf- 

 fered no inconvenience from want of legitimate accommodation. 

 It was no just argument to say that the Bank had not always 

 acted upon sound principles ; the management of the Bank was 

 now conducted upon more enlightened views than formerly, 

 and its directors were not to be judged by what they had been 

 compelled to do under the irregular action of the present system 

 of country banks.— Mr. C. Woqn followed at considerable length 

 in support of the proposal ; Sir \V. Clay, Mr. 3, Wortlkv, Mr. 

 P. M. Stewart, Mr. M. Gorb, Mr. F. Baring, and other Mem- 

 bers also speke in its favour.— Mr. Plumptrk, as a private 

 country banker, thought that hard measure had been dealt out 

 by the limitation of the future provincial issues to the average 

 of the last two years.— Mr. Muktz thought that Sir R. Pkkl was 

 going the right way to prove whether he were right or wrong 

 in his monetary principle*, and if his plan were successful, then, 

 of course, those who differed with him must submit to the de- 

 monstration of their error. But he doubted the possibility oi 

 restricting our currency, with a corn-law which made provisions 

 fifty per cent, higher in this country than on the Continent.— 

 After a few words from Mr. Gisbokxk, Mr. C. Bullkr, Lord 

 Worslkv, and Mr. Darbv, the resolutions were agreed to 

 unanimously.— Sir R. Pwl announced that the Bill to be founded 

 on these resolutions would be introduced before the recess, and 

 stated that with respect to the introduction of the new regula- 

 tions, he apprehended that there would be no objection on the 

 part of the Bank of England, to have them take effect as soon 

 as the necessary arrangements could be made ; and that in an- 

 ticipation of the consent of Parliament, the Bank was now 

 making arrangements for the separation of the two departments. 

 Tuesday.— Several petitions were presented, and notices ol 

 motion given for future days. Among the former were a large 

 number against the Dissenters' Chapel Bill.— Several Railway 

 Bills were advanced a stage.— Mr. Borthwick rose to move for 

 a committee to inquire into the operation of the Anatomy Act, 

 and into the allegations contained in a petition of Mr. Roberts, 

 presented on the 25th March last. He was proceeding to state 

 the defects of the existing Act, when the House was counted out. 

 Wedne§dmy.— After numerous petitions had been presented, 

 Mr. Warburtov brought up the report of the Medical Po<»i 

 Relief Committee, which was ordered to be printed.— On the 

 motion of Sir G. Clerk, leave was given to bring in a Bill to 

 carry into effect the existing treaties for the suppression of the 

 •lave trade.— The Forestalling and Regrating Prevention Bill 

 was read a second time.— The report of the resolutions on the 

 Banking was received, and a Bill founded on them ordered to be 

 brought in.— The Smoke Prohibition Bill was read a second time. 

 Thursday.— Several Railway Bills were advanced, and notices 

 of motions postponed.— The Customs Duties Bill was read a 

 third time, and passed.— Sir R. Pkkl fixed Thursday, the 7th 

 June, for the Dissenters' Chapels Bill.— Mr. W. O.Staxlev sub- 

 mitted a motion for a committee to inquire into the management 

 of the Friar's (Bangor) Free-school, and other endowed free- 

 schools in the diocese of Bangor and St. Asaph's.— Sir J. Gra- 

 ham stated that the Lord Chancellor was prepared to introduce 

 into the other House, within a fortnight, a Bill on the subject, 

 and, moreover, that it was the intention of Her Majesty's 

 Government to press it on in Parliament. It would provide a 

 remedy for the wrongs complained of, having reference to the 

 intentions of the testators, and being cheap and of a judicial 

 character.— The motion was withdrawn. -Mr. Hums brought 

 forward his motion for an address to Her Majesty to give cirec- 

 tions that, whenever Her Majesty shall grant the honour of the 

 peerage or baronetcy, or knighthood, or order, for eminent 

 public services, no fees shall be charged thereon.— The Chan 

 cbllor of the Exchequer objected to the motion, because the 

 Crown had no power in the matter, as the fees received in these 

 cases were sanctioned by law, and could not be taken away 

 without an Act of Parliament.— The motion was negatived 

 without a division.— Mr. Curistib was proceeding with his 

 motion respecting the Universities of Oxford and Cambridge 

 when the House was counted out. 



Friday.— Admiral Bowles took the oaths and his seat for the 

 borough of Launceston.— The South Eastern Railway Bill and 

 the Sheffield United Gas Bill were read a third time and passed. 

 —Mr. W. F. Macke.vzik moved that the committee on the 

 Croydon and Epsom Railway Bill have leave to report on or 

 before the 3d day of June next.— The committees on several 

 other railway Bills were also allowed further time for making 

 tneir reports.— The third reading of the Southampton Improve- 

 ment Bill was postponed until tne 3d of June.— A great number 

 of petitions In favour of and against the Dissenters 9 Chapels 

 J"u, and on other subjects, were presented.— Mr. Fkrravd 

 presentcdapetitionfroman individual named Lundy, residing 

 m,n f ^° m ? ainingof the hon - Member for Montrose, chair- 

 Swnae^ Committee, refusing to pay him his 



SnWwL.H a . lteiuUn f *»* witness.-Mr. Hume said he cer- 

 W to h^^t rm ; n - ofth ^ co ^mittee alluded to, and he ordered 

 mWedhT^JiT K thC Wltuess to ^ndons but when he 

 toouiry ™ £ h? ^ir-' aDy *"«tons. If mother similar 

 wSness -Dr Bow^.l re M mt °' he Would not wish for •«* * 



w shed to £u Sti I* ' BS a member * the committee, he 

 wis&ed to add that a more unimportant witness never attended 



before a committee. He positively refused to InsweV an v 



JE!? l 2?lL7 Mr - D . AR ? V iaid - amid ^ ™<* laughter hat 

 thought this was the first time the hon. Membe ^fnr \TnV.tLL! 



had ever « been done.»-The petition «Sen^ 



the table.-Sir G. Clkrk brought in the Bank of Fnl^nS 



Charter Bill, which wa» read a fi£t time.-Th^ 



when the second reading was to be moved ?— The ChantkiTor 



of the Exchkqlbr said he would appoint it for the 'first' dav 



after the Whitsun holidays, and then name a day on which the 



discussion would take place.— Mr. C. Bkrkki.bv inquired by 



whose authority the gaming-booths at Epsom Races had been 



put down? Was it bv the local magistrates, the Commissioners 



of the Metropolitan Police, or by the authority of the Home 



Office?— Sir J. Graham said, it was by his authority that 



the gaming-booths atJSpsom Races were abolished - t he had 



aused gaming-houses in London to be prosecuted, and he 

 thought that gambling stalls at races in the vicinity of the 

 metropolis should be also abolished. The local magistrates had 

 nothing to do with the question. He was quite willing to take 



he responsibility on himself.— In answer to aquestion;by Mr. M. 

 Mn-NKS, the Earl of Lincoln' said that the refusal of the Woods 

 and Forests to allow the Greenwich pensioners to dine in 

 Trafalgar-square to-day, arose from unavoidable circumstances 

 There was no objection to the proposition, but in the present 

 condition of the works it was deemed advisable to postpone it 

 for the present.— Mr. Labolxheek asked whether it was in 

 tended, if Manchester paid the expense of the Bill for constitut- 

 ing Manchester an inland town for bonding warehouses, 

 whether it was contemplated to extend similar privileges to 

 other towns ? The Chancellor of the Exchequer said, the 

 Government, from the peculiar situation of Manchester, had 

 consented to a Bill for erecting bouded warehouses in that 

 town— the town naying the expenses. It was an experiment, 

 and not intended at present to apply to other towns. — Sir R. 

 Pkkl moved that the House, at its rising, adjourn until Thurs- 

 day next, which was agreed to.— Mr. Christie complained 

 that the House should have been counted out the other even- 

 ing, when he was about to bring forward a motion relating to 

 education in the Universities of Oxford and Cambridge.— Sir R. 

 Pkkl said it was no fault of his. He was surprised when he 

 returned from taking refieshment to find the House up.— Mr. 

 Christie said he wished to give notice that he should renew 

 his motion on the 13th of June, ml if then prevented 

 from calling the attention of the House to the subject, he 

 should most certainly renew it next session.— Sir R. Pkkl gave 

 notice that on Friday, May 31, he should move the further con- 

 sideration of the Ecclesiastical Courts Bill. On Monday, the 

 3d of June, the sugar duties would be brought forward. On 

 Tuesday, the 6th of June, he should move the second reading 

 of the Dissenters' Chapels Bill; and on Friday he should bring 

 the Bill for dividing parishes in Scotland under the considera- 

 tion of the House. — Mr. Villiers gave notice, that if he should 

 not be able to bring forward his motion for a Repeal of the 

 Corn-laws on Tuesday, the 18th of June, he should do so on 

 the first day possible afterwards, viz., on reading the order for 

 going into Committee of Supply. — In answer to questions by 

 Mr. Hume, Lord Stavi.kt said Sir Charles Metcalfe, the 

 present Governor of Canada, was anxious, as far as possible, to 

 pursue the same line of policy as that adopted by his predecessor 

 (Lord Sydenham), and no time would be lost in the formation 

 of an administration in that country. The House then went 

 into a Committee of Ways and Means. (Left sitting.) 



CITY. 



Money Market f Friday.— Consols for the account 

 closed at 99f. Red. Three per Cents. 98$. Three- 

 and-half per Cents. 102f. Bank Stock, 191. Exchequer 

 Bills, 72 to 74, premium. 



BANKRUPTCY ANNULLED.— W. Read and E. Paob, of Ipswich, 



Suffolk, ship-builders. 



GAZETTE OF THE WEEK—BANKRUPTS— J. Coofbh, Stoney- 

 lane, wheelwright — William Lickjtold, late of Marrow, but now of 

 Hazlemere, Surrey, victualler — W. C. BirrniKM, of Sewardstone, Essex, 

 silk-throwster— Jamrs Snrilino, 63, Blackman-street, t eating-house- 

 keeper— I. Aldkn, Oxford, butcher — P. R. Morrison, late of Liverpool, but 

 now of Hammersmith, merchant — T. Carliwb, of Shrewsbury, builder— D. 

 P4RKKJI, of Lancashire, hop-merchant— William Grav, of Sheffield, 

 wine-merchant — L. L. Halls, of Taunton, tea-dealer — J. Ward, of West 

 Hromwii'h, coach-maker — W. Flbtchbk, of CinderhiJI, maltster — E- Riley, 

 of Strattord upon-A von, grocer — M. Lewis, of Derby, bonnet-manufacturer* 

 — B. Wkbb, High-street, cheesemonger — J. W. Martin, Newmarket, drug- 

 gist— J. M- Pikb, Great Bath-street, Cold Bath-square, victualler — J. C. 

 Joiimon and W. Chapman, Manchester, manufacturing chemists— J. Fitt, 

 Lomedon, Worcestershire, innkeeper. 



SCOTCH SEQUESTRATIONS.- J. M'Coll, of Glasgow, provision- 

 merchant— A. Wilson, of Edinburgh, cattle-dealer— R. W, Hums, of Leith, 

 JAuce-mnnufaeturer— C. M. Bannsrman and Co., Glasgow, merchants— K. 

 Park, East Kilbride, Lanarkshire, innkeeper— A. M'Grkgor, Glasgow, 

 baker— W. Kino, Glasgow, victualler. 



^Metropolis anlr its Fief lifts* 



British and Foreign Anti-Slavery Society. — The fifth 

 Annual Meeting of the Anti-Slavery Society was held on 

 Friday in Exeter Hall. Lord Brougham had been 

 announced as the chairman, but on the previous day his 

 Lordship wrote a letter to the committee stating that he 

 could not attend in consequence of the defective consti- 

 tution of the judicial committee of the PrivyCouncil, which 

 rendered his presence at that committee necessary, to 

 prevent public inconvenience and detriment to parties. 

 Mr. S. Gurney was therefore called upon to preside. 

 Mr. Scoble read the report of the committee, which was 

 of great length. The Bishop of Norwich moved, and 

 the Rev. J. Kennedy of Aberdeen seconded the adoption 

 of the report. Mr. G. Thompson then moved an 

 amendment, for the purpose of preventing the future 

 committee fro m interfering, through the mediumof Govern- 

 ment, in favour of the differential duties proposed to be 

 adopted between slave and free-grown produce. Mr. Anstey, 

 of Devizes, seconded the amendment ; but after a pledge 

 had been given on the part of the committee that they 

 would revise the laws relating to fiscal regulations, Mr. 

 Thompson consented to withdraw it Mr. O'Connell, 

 Sir G. Stephen, Mr. Buxton, Mr. Bright, M.P., and 

 other gentlemen then addressed the meeting, and after a 

 somewhat angry discussion, Mr. Thompson said that he 

 had not been fairly treated, and he would therefore again 

 move the amendment. The Chairman then put Mr. 

 rnompson s amendment to the meeting. A show of 

 hands was taken, and the chairman declared the amend- 

 ment to be carried. This announcement was received 

 with loud cheers. Several resolutions, in connexion 

 with the ordinary business of the Society, were put and 

 earned unanimously. Mr. O'Connell was loudly cheered 

 on his arrival in the room,' and during the progress of 

 his speech. r ° 



The West India Interests.-On Tuesday, a general 

 meeting of planters, merchants, and others interested in 

 the British West India colonies, took place at Willis's 

 Rooms, " to consider the propriety of petitioning the 

 legislature against any alteration in the duties on sugar, 

 coffee, and cocoa, which should not embrace a reduction 

 of the duties on sitmlar produce from the British pos- 

 sessions. Viscount Combermere presided, and observed 

 that the meeting had been convened in consequence of 

 the determination of Government to make such an altera- 

 tion of the duties on sugar, &c, as would, unless a 

 strenuous effort were made on the part of the West 

 India proprietary to resist it, involve the whole of them 

 in utter rum. A variety of representations had been 

 made to her Majesty s ministers upon the subject, but 

 without success, and the only course now open to them 



was an aPPeaTtTThTl^aTu^^^ . 



was intended to propose, were as m Id as under all rh • 

 cumstances they could be expected to be and«U"? r ; 

 forcibly the injuries which had been inflicVdl^^ 

 India body of proprietors since the abolition of sU ve ? 

 All they now sought for was protection, and thev had 

 right to demand that if the duties on the sugar of forei * 

 colonial produce were to be reduced, that the duties 

 British colonial sugar should be reduced also I n th* 

 course of the discussion on the different resolutions th 

 Earl of Hare wood said, that he possessed an estate i! 

 Jamaica, upon which his grandfather had exnende.1 ZLz 

 11,000/. to 12,000/. in hard cash, and which had generall, 

 yielded no return. Indeed, since slavery had|been abi 

 hshed, he had felt it necessary to lay the land in fallow 

 and give up entirely the cultivation of the estate. Prior to 

 the abolition of slavery there were 400 slaves on that 

 | estate, but now there was not a quarter of thatnomber of 

 labourers.— Sir E. Hyde East contended that if the pro- 

 ject of ministers were carried, it would not only destro? 

 the West India colonies, but tend greatly to depreciate 

 our commercial and state navy. — Lord Saltoun said that 

 he could not shut his eyes to the fact that great injur? 

 would result to the British colonies if the proposition of 

 the Government were carried out. It was not only the 

 West India proprietary body that had to be looked to • 

 they must bear in mind the vast amount of money' 

 wholly arising from West India property, upon which 

 widows and fatherless children were solely dependent^. 

 Mr. Carington repudiated the idea that the colonies 

 themselves had established slavery, and declared that 

 although his property by its abolition had dwindled from 

 thousands to hundreds, he would sooner that it dwindled 

 to nothing than return to that most inhuman and debas- 

 ing system. If the present Government were determined 

 to carry out certain dogmas of political economy, such 

 as cheap sugar, &c, for the mere sake of popularity 

 here, they had no right to do so at the expense of the 

 British colonists. — Mr. Mackinnon, M.P., said that the 

 British Government had given the colonists 1 7 millions 

 by way of compensation, when it was proved, in 1832, 

 that the value of their property was 140 millions, there- 

 fore to say the former sum was compensation was absurd. 

 He contended that the ministry had no right to earn 

 popularity at home by taking money out of the pockets 

 of the West India colonists. The duty and freight of 

 sugar of West India produce did not amount to less than 

 335. per cwt, and add to that 21s. for the cost of produc- 

 tion, it amounted to nearly 60*. Now, we could 

 purchase Manilla sugar for 17*. per cwt. in bond, and add- 

 ing a duty of 34*., made 51*. — thus underselling the 

 West India proprietor by 8*. or 9*. per cwt. in the market. 

 If the Government were really desirous of giving the 

 public cheap sugar, why did they not reduce the duty oa 

 West India grown sugar to 20*., and keep foreign sugar 

 at 34*.— Sir Alex. Grant adverted to the loss the planter* 

 had suffered from the term of apprenticeship having been 

 abridged. Abolition of slavery reduced the annual im- 

 portation from the West India islands and British Guy- 

 ana from between 4,000,000 and 5,000,000 cwt. of sugar 

 annually, to 3,520,676 cwt. ; and in 1841, when the 

 apprenticeship was abolished, the importation fell t» 

 2,148,218 cwt. The loss upon this, including the 8 out 

 of the 12 years, apprenticeship, which the colonists ha* 

 lost, amounted to upwards of 14,000,000/. sterling. He 

 therefore denounced the present attempt still further to 

 take money out of their pockets. Lord St. Vincent, 

 Lord Reay, Sir W. Codrington, Sir A. Leith Hay, Sir R* 

 Dallas, Mr. Stewart, M.P., Sir J. R. Reid, Mr. P. M. 

 Stewart, M.P., Mr. J. A. Smith, M.P., and other gen- 

 tlemen addressed the meeting, and the resolutions, 15 ia 

 number, were agreed to, as was also a petition to tne 

 legislature founded on them. 



East India Company.— On. Wednesday evening, the 

 East India Director entertained at dinner in the 

 London Tavern, Sir H. Hardinge, the new Governor 

 General of India, the Cabinet Ministers, and about w» 

 noblemen and gentlemen connected with Government, 

 or with India. Mr. Sheppard, chairman of tne 

 Directors, presided, and after the usual loyal toast*, 

 proposed the health of Sir H. Hardinge, stating that, 

 without any previous communication between ' 



Her Majesty's Ministers and the Court of D,rcct ° o r * 

 named him for that purpose without any concer 

 communication — his name having simultaneously ^ 

 curred to Her Majesty's Ministers and the tour 

 Directors as the fittest person for that office. * l ^ 

 Hardinge, in returning thanks, observed that, le 



achievements of the Indian army be ever so 



brilliant 



otmcvcuicius ui uic luuiau aiuijr wo c»w. — , i 



let their successes be ever so dazzling — he truste . ^ 

 their triumphs would always be directed towards o 

 ing and securing that which was the legitimate co ^ 

 quence of war, a lasting, a long, and a durable P^J^ 

 peace calculated to confer advantage on the coun "J* ^ 

 ameliorate the condition of the people, to improve 

 education, to give them all the advantages that wer 

 culated to secure the happiness and prosperity o 

 country. To those objects he should be always uesir 

 to turn his attention; he hoped that a peace, wni 

 would be beneficial to the country, would be the succe ® hi| 

 of war ; and great as was the distance between 

 country and India, if there was any consideration wn _^ 

 more than another could induce him to apply to his 0" 

 with diligence and ardour, it was the hope that by secur |j£ 

 those advantages to India he might be able to lay 

 foundation for the lasting peace and happiness 

 prosperity of the people of India. The Duke of ™ euli g r 

 ton returned thanks for the Army, and Sir R. ree 

 her Majesty's Ministers. Both expressed their cor 

 approbation of the Court of Directors in their seiecu 



