HC Deb 18 July 1834 vol 25 cc192-4

The Attorney General moved the second reading of the Trading Companies Bill.

Mr. Patrick M. Stewart

expressed a hope that the Bill, which involved a most important principle, would be postponed, for at that late hour, many hon. Members had gone away under the impression that it would not be proceeded with.

Mr. O'Connell

concurred in thinking, that the Bill ought to be postponed.

The Attorney General

could not accede to the request of the hon. Members, but must call on the House for a decision on the Bill.

Mr. Patrick M. Stewart

said, that while he assented to the principle of the first clause of the Bill he must protest against the last clause, both in principle and detail. It retained an exclusive right of banking to the Governor and Company of the Bank of England, and to this he must object, after the question had been discussed no less than three times in this House. The whole aim of the Bill was contained in the latter clause.

The Attorney General

looked for the support of his hon. friend on the second reading, as he approved of the principle of the Bill, but objected to the proviso: but, in fact, this proviso decided nothing, but merely saved what might be declared to be the existing privileges of the Bank of England.

Mr. Aglionby

thought the objections to the proviso were groundless, and he should support it in the Committee.

Mr. Tooke

objected to the proviso, as introduced with an insidious aim; but he should not oppose the second reading.

Lord Sandon

wished the hon. and learned member for Edinburgh to explain the objects of the Bill before he consented to the second reading.

The Attorney General

observed, that he had not neglected to follow this plan when he moved for leave to bring in the Bill, and it was simply to enable Corporations to sue and be sued by one of their officers.

Mr. Thomas Attwood

objected altogether to Joint-stock Companies for pur- poses to which individual industry was competent. He hoped the hon. and learned Member would pause, and postpone this Bill till next Session, when the sense of the country on the question might be understood.

The Bill was read a second time.