HC Deb 29 July 1845 vol 82 cc1194-5

On the Motion for going into Committee upon the Joint Stock Banks (Scotland and Ireland) Bill,

Mr. Bouverie

objected to the measure, because it was to have a retrospective effect, and would counteract that Act of the Legislature which had been passed at an earlier period of the Session upon the subject, upon the faith of which engagements had been entered into which would be seriously affected by this Bill, if it was permitted to pass into a law. He should, therefore, move that it be committed this day three months.

The Chancellor of the Exchequer

said, that he did not think the hon. Member was borne out in his statement by the facts of the case. He merely wished the House to go, pro formâ, into Committee now, for the purpose of postponing the arguments upon it until Friday next, when it would be re-committed, and when the extent of the objections to the measure could be satisfactorily known. There was to be a meeting of Scotch bankers to-morrow on the subject.

Mr. P. M. Stewart

protested against the principle of pressing forward this Bill, because the Scotch bankers were said to be favourable to it. They would, of course, be glad that this measure should pass; because it would have the effect of increasing their monopoly, and preventing new banks being established. This was a question which ought to be decided by the mercantile interests of Scotland, who were directly opposed to it. He merely asked the right hon. Gentleman to delay this Bill until they could fairly take the opinion of the people of Scotland upon its merits.

The House went into Committee.

Clauses were agreed to.

The House resumed. Report to be received.

The House then adjourned till five o'clock.