§ MR. ALDERMAN SALOMONSsaid, he would beg to ask Mr. Chancellor of the Exchequer if the proposed Penny Stamp on Brokers' Contract Notes will apply to all transactions in the Public Funds, and will it therefore legalize all such transactions?
§ MR. LAINGsaid, it was intended to make the Penny Stamp applicable to time bargains, and to repeal the Act of George II., which he had no hesitation in saying was a relic of an obsolete system, and, if enforced, would be most prejudicial in its effect. It was now a dead letter, except to cast an unmerited stigma on a respectable body of men, and to arm dishonest persons with the means of repudiating inconvenient contracts.