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“ for the present quarter; it was "able mode of commerce. The “ also one of the Quarterly Geo's present age, however, was an “neral Courts appointed by the " age of test and inquiry, and “ Charter.

even the Bank, great and pow“ The Chairman announced to

“ erful as it was, could not hope

It had “ the Meeting, that the Court of “ to escape that test. “ Directors had come to a deter

fallen to his lot, some time since, “ mination that four per cent. was

" to oppose the advances made by a proper

dividend to the Pro- " the Bank on Stock, and he had prietors of Bank Stock, np to the

“ done so because he thought it a “ 10th of October next.

very imprudent measure for the ting the question, that that di

“ Bank to make advances on the “ vidend should be adopted,

security of the debt of the coun

try. But he has been still more “ Mr. Gundry begged leave to

“strongly opposed to the system say a few words, before the “ of advancing money on mort“ Resolution was carried into ef

gages, and be did so from prin“ fect. . It would be within the “ recollection of several Gentle by their charter to deal in tlie

ciple, for as they were forbidden men present, he had no doubt,“ land of the country, he had con" that at a previous General

" sidered that they ought not to “ Meeting he had proposed cer- take advantage of what he could “ tain questions to the Chairman; “ not but hold to be an evasion, to “it was his wish to ask similar - enable them to deal in these “ones on the present occasion; " lands-not that he had any ob" and his motive for asking them "jection to the security which

was, not that he thought the mortgage offered, but that he “ Bank Proprietors were ill-used, « could not go along with the prinor did not receive as much as

ciple on which it was done. they ought to do, but because “ There was one other circum" he felt how highly necessary it "stance on which he also had a

that the public should not word 10 say, and that was the “ be kept in the dark with respect“ reduction of their rate of dis" 10 the notions of so important a

“count, from 5 to 1 per cent. " machine of the country, as the “ He had ever opposed such a “ Bank of England. It was true, "proceeding, and he now opposed " that machine was in fact a.

" it more than ever, from a conCompany of men, who were

“viction that it had given rise to trading for their own advantage, so that system of speculation which “ but it was just as true that, ow- “ bad taken so large ir portion of

ing to the immensity of its opera" capita! ont of the country, which “ations, and the power it absorb

stalement was proved by the ec!, much of the public welfaré

self-evident fact, that the Bank “ depended on its motions, and offering such facilities in diso tlierefore it was incumbent cí

counting bills, could not leave å "the Company generally to re- " sufficient incitement for other " lieve any public anxiety that " capitalists to keep their nonry

might exini," he far as w 1 Hileli viib li fair atid honourable in the lastnil alleka


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quer Bills.

“tions, which appeared to him to being about 400,0001. less than “ be of vital importance, and he " at that time twelvemonth. (Hear, “ trusted that when he submitted " hear!] “ them to the Chairman, that Hon. “ Mr. Gundry's next question Gentleman would not feel any " was

-what decrease or increase “ hesitation in giving them a " has there been in the sale of “ straight forward reply.

"Exchequer Bills during the last « The Chairman trusted that's six months ? “every Proprietor would bear

The Chairman : Very little “ bim out when he asserted, that

" either way.


opinion the “ to the questions that had former-" public is very much deceived “ ly been asked him he has given in their idea of what is done by " Clearand candid replies. (Hear!! the Bank in the way of Exche“ To do so he deemned but right " in the situation that he held, and

" Mr. Gundry: The gist of my “ on the present occasion he had " only to say, that he was cer

“ question was to ascertain whe“tainly disposed to give any in

“ther any large sale has lately “ formation that might be required

“ taken place ? " of him, and that would be con- ~ The Chairman : The whole “sistent with the duty he owed to “ amount that has been sold by " the Proprietors. [Hear, hear!)" the Bank is but 670,0001., and “Mr. Gundry was glad at being

s nearly three months were occus "80 encouraged in the questions

“ pied in selling that amount [hear, " that he was about to propose.

hear!] “ The first one that he would ask “ Mr. Gundry: My next

was, what amount of bank-notes “ question is-What advance has " there was at present in circula- " there been on mortgages ? « tion?

“ The Chairman: The mort" A Proprietor submitted that "gages do not exceed 1,400,0001. “ it might be as well if the Ho. « nourable Proprietor were to vance has there been, Sir, on

" Mr. Gundry: And what adpropose

the whole of the ques- « stock ? " tions at once, by which means " the Court would be able to per

“ The Chairman: I believe, or ceive how far it was his intel

" the last time that I was asked

" that question, I stated that the - The Chairman did not seem

" advance amounted to between 5 " to think that that was necessary. « find that I was incorrect, having

" and 600,0001. In this I now « Ile was perfectly ready for any considerably exaggerated the

question, merely reserving for • himself the discretionary power « only 480,0001., and it has since

amount. It was at that period " of answering or not, as might

66 increased a little, but not seem to “ With respect to the frst question, “ lie had to state, in reply, that

" Mr. Gundry: My last ques“the present bank-rote circula- “ tion, Sir, is, what has principally " tion amounted to 18, 00,0001. occasioned the large alteratio s

" tion to go.

him most proper. so much.

" that have taken place in the" ensuing, was then put from the money market? [Laughter.]

« Chair and carried unanimously: " The Chairman: I must really “ Notice was given by the Se

beg the Honourable Proprietor “ cretary that the warrants would " to apply elsewhere for an an

“ be ready to be paid on Tuesday, " swer!. I can assure the Conrt “ the Ilth October, " that the Governors have most

“On the question of adjourn. “ indefatigibly gone through the

ment, task imposed upon them by their “ office, without attending either to “Mr. Gundry begged to allude "good or ill report. [Hear, hear!]" to a plan that he had formerly " Mr. Gundry: Am I then, Sir,

suggestell, for the prevention of o to understand that you profess

" fraud on the Bank. On the for

mer occasion he was afraid that ignorance of the cause?

“ he had not been thoroughly un“ The Chairman: Not in the " derstood; for the saying of shut" least, Sir. Ali I did was to exo- ting the stable after the losse “ nerate the Bank Directors. 1" was gone, was applied to the " set out by saying that you must" scheme. His plan simply was, "apply elsewhere.

" that in the case of a payment "A Proprietor, begged to add

being made by a power of atanother question to those already

“ torney, the party granting the “ answered. There had formerly his property had been parted

power should be informed that “ been a custom in the Bank of

“ with. He knew that some held " advancing upon Stock; but

“ this to be a nugatory idea, be66 since last June twelvemonth it had been discontinued : be

cause the party could not be in

“ formed till after the disposal of " should be glad to know whether " that leaving off were to be per- to the former saying, he thought

“ bis property; but, to come back manent, or only temporary?

so that if there were ten horses in “ The Chairman said, that the the stable, it were just as well

only distinct answer that he “ to save nine, though one might “ could give to that question was,

“ have been stolen. If his plan “ that the Bank Directors acted" had been in operation, it would

on all occasions as they deemed “ have been impossible for Mr. " most advisable. The advance “Fauntleroy, or any other person,

certainly was not rescinded,“ to have carried their frauds to though: at present it was sus- “ such an extraordinary extent. pended. The Directors, how

“The Chairman remarked, that ever, had entered into no en

“ the expense of the plan, pro"gagement on that head, but left “itat present in suspense, leaving

posed would be very great, and

" That it would be for the most part " it to circumstances whether it " should be revived or done away ..

“ ineffectual, as it was not always * with.

possible to send a conimunica

" tion to the place where the party * The question of 4 per cent." concerned might be living. In "dividend up to the 10th October "answer to a question from ano

“ther Proprietor, he stated that must go elsewhere to ask the o there were plans for the preven-cause of the “late large altera6. tion of fraud under the consi« deration of the Court of Direct- tions in the money market,” Mrs.

· ors; but there was a great deal | Grundy ... ... I beg pardon, 6. of difference between receiving Mr. Gundry said, “ Am I to un“a plan and approving it. None “yet had been adopted, though derstand, then, Sir, that you pro• ihe Directors were still anxiously less ignorance of the cause !"

on the watch for some system - Not in the least, Sir," replied " that might be feasible.

the chairman; and then I again “ The question of adjournment "was then carried unanimously, exclaimed, “ What will Mrs. “ and the Court adjourned, after Grundy say to that?” Faith, sitting only a quarter of an hour." | neither Mrs. Grundy nor Mr.

The name of Gundry is so Gundry said a word after that, , much like that of Grundy (the Uexcept that Mr. Gundry began to and the R having only to change talk about“ neugatory ideas," places in the former, to make it and other such deep matters, of precisely the same as the latter); which I am not presumptuous and Mrs. Grundy, in the play, enough to pretend to have any having been so fully brought into knowledge.

But now, having my mind by the questions put by looked at all these questions which Mr. Gundry, that, when I came were put to the chairman, who, to the chairman's answer to Mr. by the by, appears to be a very Gundry's last question, I ex- discreet and clever man, after claimed, (though all alone,) in a looking at all these questions, voice that you might have heard does not every one perceive that at Mr. Butterworth's over the way,

the only questions which could “ What will Mrs. Grundly say to have thrown any light upon the prethat?"

sent state of the pecuniary affairs Reading on, I found that Mr. of the country, and which could, Gundry, like his great female with any thing like propriety, prototype, appeared to be quite have been put to the chairman, nonplussed, that is to say, in the sere not put at all, and appear language of the Hampshire fel- not even to have been thought of by lors, furr'd up; that is to say, this great orator and political could to get on. lie made, hewoonottigt, Mr. Gundry ? erer, a slight attempt for, the Hihat people wait in know are cliniran baving told him that he lucis i noiely, how much

gold there was in the bank a are best acquainted with his moyear ago; how much gold there tives; they know his foibles ; they is in the bank now ; in what pro- despise his vanity in thinking portion (if it be less than it was) himself their superior in point of has it been taken away each spirit and talent; and they, acmonth during that period? Acordingly, rejoice at his expoplain answer to these questions, sure; and this is particularly apor to these propositions put in the plicable to the babbling orators shape of questions, would have of the city. saved Mr. Gundry two things; Bidding now an affectionate, first, the trouble of asking what and I dare say an eternal adieu had occasioned the late large alto Mr. Gundry, unless I should, terations in the money market; by some strange chance, have and, second, the not very plea- him again called to my mind, by sant necessity of standing gaping his near name-sake of Covent to be laughed at; for, though the Garden, whom, after all, I cannot chairman would, to a certainty, help thinking must be his relanot have answered these ques- tion; with this slender proviso, tions, to as great a certainty he bidding him now an eternal adieu, would not have been without some I come with far other feelings to little uneasiness, and the assem- those stubborn, those persevering, blage, though not all of them So- those pertinacious devils the lomons, would not have been dis- Scotch feelosofers, whom, mind, posed to laugh at the folly of Mr. stout and stubborn as they are, I Gundry so heartily as they did mean to bend down, to hack up, upon this occasion, and in which and to trample under my feet belaugh they have been as heartily fore I have done with them. joined by the public, Mr. Gun- These feelosofers are now in a dry's friends not excepted; for, great quandary. They see the Mr. Gundry should be told, if he danger with which the Scotch do not already know it, that a system of paper-money is meman's friends, though, in such naced. They have been cock-acases, they look serious to his whoop for two years past; they face, are mightily prone to lang! have been crying up the prohehind his bach. Iwleed, they, sperity of paper-money; they in general, lungli Boldest für, have beeil setting forth the yart they are hsflnd the curinio ; they benefits o! ll cheap currency :

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