ENGLISH EXTRACTS.

New Zealand Spectator and Cook's Strait Guardian, Volume I, Issue 2, 19 October 1844, Page 6

ENGLISH EXTRACTS.

[From the Sydney Morning Herald. We have received files of English papers to May 26th. The most important political news is the terms upon which it was intended to renew the Bank of England Charter, which were propounded by Sir R. Peel in the following resolutions, which were unanimously adopted by the House of Commons :—: — 1. That it is expedient to continue to the Bank of England, for a time to be limited, certain of the privileges now by law voted to that corporation, subject to such conditions as may be provided by any act to be passed for that purpose. 2. That it is expedient to provide by law that the Bank of England should henceforth be divided into two separate departments, one exclusively confined to the issue and circulation of notes, the other to the conduct of banking business. 3. That it is expedient to limit the amount of securities upon which it shall henceforth be lawful for the Bank of England to issue promissory notes payable to bearer on demand, and that such amount shall only be increased under certain conditions to be prescribed by law. 4. That it is expedient tp provide by law that a weekly publication should be made by the Bank of England of the state both the circulation and of the banking departments. 5. That it is expedient to repeal the law which subjects the notes of the Bank of England to the payment of the composition for stamp duty. 6. That in consideration of the privileges to be continued to the Bank of England, the rate of fixed annual payment to be made by the bank to the public shall be £180,000 per annum, and shall be defrayed by deducting the said sum from the sum now payable to the Bank, for the management of the public debt. 7. That in the event of any increase of the securities upon which it shall be lawful for the Bank of England to issue such promissory notes as^aforesaid, a further annual payment shall be made by the Bank of England to the public, over and above the said fixed payment of £180,000, equal in amount to the net orofit dprived from the promissory notes issued on such additional securities. 8. That it is expedient to provide by law the issue of promissory notes payable, to bearer on demand by any b.ink not now issuing such notes, or by any bank hereafter to be established in any part of the United Kingdom. 9. That it is expedient to provide by law that such banks in England and Wales as now issue promissory notes payable to bearer on demand shall continue to issue such notes, subject to such conditions and to such limitations as to the amount of issue as may be provided for by any act that may be passed for that purpose. 10. That it is expedient to provide by law for the weekly publication of the amount of promissory notes payable to bearer on demand, circulated by any bank authorised to issue such notes. 11. That it is expedient to make further provision, by law with regard to joint-stock banking companies. It was expected that the Judges would givev c their decision in the case of the Queen v. O'Connell on the 25th May. It was supposed that the new trial would be refused, except in the case of the Rev. Mr. Tierney, against whom the Crown would not proceed any further. If this should turn out to he correct, there would then be arguments in arrest of judgment. •< In Parliament, the Bank Charter Bill was. proceeding through the house of Commons without opposition ; as were the Bjlls making the alterations in the duties proposed by the Chancellor of the Exchequer. The abolition of the duty on foreign wool was opposed, on account both of the home and colonial grower, but without effect. On the 24th May, Mr. G. W. Hope moyed for and obtained leave to bring in a Bill to explain an Act passed in the sth and 6th year of her present Majesty, for the Government of New South Wales and Van Diemen's Land. Sir Thomas Freemantle had been appointed Secretary at War in succession to Sir Henry Hardinge, who was about proceeding overland to India. The foreign news was unimportant, except that a treaty for the annexation of Texas to the United States of America was signed on the 4th April; it was supposed, however; that the Senate would refuse to ratify it, . t _, Trade continued pretty brisk ; Consols closed on the 24th at 99| to f .

London Markets, — Sperm oil, £72 10s.; head matter, £78 ; black oil, on the 18th May, £28 to £29 ; seven tons whalebone sold at £198 to £200 per ton. New Zealand Timber.— Main, £21 per ton. Despatches were received at the Colonial Office from the Governor of New Zealand on on the 22nd April. Serious riots have taken place in Philadelphia, United States, the effects of a violent ill feeling existing between the Roman Catholics and the Protestants, on the subject of education, which ended in the destruction of two Roman Catholic Churches, a female seminary, 'and upwards one hundred houses being burnt, ten or twelve persons killed, and forty wounded.