§ Order for Second Reading read.
§ THE CHANCELLOR OF THE EXCHEQUER, in moving that the Bill be now read a second time, said, that it was for the purpose of meeting the case of certain banks in the Colonies which had hitherto existed under charters granted by the Crown. It had been thought better, now that the system of issuing Charters had become quite obsolete, to put these banks under a general Act similar to that by which Companies were regulated in this country—namely, the Companies Act. Power was given to the banks to increase their capital, and other alterations, subject to the conditions which were provided in the Act. There was a provision that nothing authorized any of the banks to make any issue of notes other than they at present possessed, except by the sanction of the Governors of the Colonies in which they were situate.
§ Motion made, and Question proposed, "That the Bill be now read a second time."—(Mr. Chancellor of the Exchequer.)
§ MR. COURTNEYdid not wish to object to the Bill; but he trusted that the right hon. Gentleman the Chancellor of the Exchequer would allow two or three days to elapse before they went into Committee upon it, for it seemed to him that it required a great deal of consideration.
§ Motion agreed to.
§ Bill read a second time, and committed for Thursday.