BANKING SYSTEM. (Hansard, 4 June 1832)

§ Mr. Littleton
said, that he rose to present a Petition of considerable importance, and one to which he requested the attention of the House. It was the petition of the Committee of Country Bankers, now sitting in London, and its object was, that they should be heard before the Secret Committee now sitting up-stairs upon the banking system, in order to afford information with respect to their interests. The petitioners considered that their interests had been greatly injured in the year 1826, and they grounded their present prayer on the promise made them by the late Government, that they should be fully heard whenever the question of banking was again taken into consideration. He did not know why he had been selected to present this petition, unless upon account of his having opposed the course pursued by Government in 1826, when the country bankers had been visited with punishment for that which had been more the fault of the Bank of England than of the country bankers. If the noble Lord (the Chancellor of the Exchequer) were in the House, he would ask him, whether the Government would 381 not allow these parties to be heard, and he should consider it an act of injustice if they were not.

Mr. Hume
had no hesitation in supporting the prayer of this petition, and in stating, that this was not merely the case of the banking interest, but that of the country at large. He had also opposed the course pursued by Government in 1826, and he was quite sure, that the House had materially altered its opinion since then. The country bankers had been exceedingly ill-treated, and all the faults of the Bank of England visited upon them. He trusted now, that the Committee would do its duty firmly, and that duty would not be done if they did not put an end to all monopoly.

Mr. Paget
entirely concurred in the sentiments which had just been uttered upon this subject. He believed, that the country bankers only wished an equalization of the law, and that the burthen should be placed on the right backs. They had been very severely dealt with, and ruin brought upon many by the course which had been pursued in 1826. Out of 100 banks that had then stopped payment, there were only seven that had not paid full 20s. in the pound. He was an enemy to the extension of paper credit, but he trusted the claims of the country bankers would receive full consideration.