§ The EARL of EGLINTONrose to put a question to the noble Marquess opposite, regarding the intentions of Her Majesty's Government with respect to the Scotland and Ireland Joint Stock Banks Bill. He earnestly hoped that it was not the intention of the Government to proceed with such a measure at the present period of the Session. The measure, it was well known, was extremely obnoxious to the people of Scotland. It probably was also known to many 338 noble Lords that a deputation from Scotland waited upon Sir R. Peel for the purpose of inducing him to forego his intentions with respect to this measure. Sir R. Peel promised to reconsider the subject, and promised likewise that some delay should take place; it therefore might be hoped that the present Government would not proceed with the Bill. He hoped that a new Ministry, which, in Scotland at least, had met with no factious opposition, would, as a favour and as an act of grace, postpone such a measure till the next Session of Parliament. There was nothing of which the Scotch were so jealous as any interference with their system of banking. If the Bill passed now, he believed that there was not a bank in Scotland which could avail itself of the advantages which the measure held out. The Bill also appeared to him objectionable on the ground of its tendency to centralization, which, though high in favour with Sir R. Peel, was very differently viewed by the people of Scotland.
§ The MARQUESS of LANSDOWNEwas afraid that he could not give the noble Earl any assurance that the Bill would not be proceeded with. He should inform himself as to the progress that the Bill had made elsewhere; but, as far as he could see, there was nothing on the face of the proceedings which seemed to render postponement necessary. The proposed measure, as every one knew, was perfectly familiar to the public, and therefore no well-founded complaint could be urged against its being proceeded with at the present period of the Session. The matter had already been brought under the notice of the Chancellor of the Exchequer; and, upon the whole, his opinion was that the advantages likely to accrue from the measure would greatly preponderate over the disadvantages.
LORD KINNAIRDobserved, that from the known opposition manifested against the Bill, the parties who objected—indeed all parties—expected that further communication would have been given before the measure had been further proceeded with. He might also say, as another reason why the further progress of the measure should be stayed, that through information afforded by the public papers, persons in Scotland interested in banking affairs had been told that the Bill would be left over until the next Session. He did not see, therefore, that it would be fair to continue further progress, particularly when the very 339 late period of the Session was considered. No doubt the chartered banks of Scotland approved of the Bill, and would be rejoiced, could they see it made the law of the land, because it afforded them a monopoly. He knew the people of Scotland were against this Bill, and he knew also that a general feeling existed in Scotland that farther progress would not be made. On these grounds it would not be fair to enter into any discussion upon the Bill.
§ EARL GREYthought it would be better to postpone the discussion of the Bill till the second reading; and if the Bill was proceeded with, it should pass with as little delay as possible. He proposed, therefore, to make it an Order of the Day that the Bill should be read a second and third time on Thursday, when he thought he should be able to state reasons for passing the Bill of which his noble Friend was not aware.
§ Bill read 1a.
§ House adjourned.