Monday, February 6, 1826.

The following Papers were laid on the table of the House:—

COPIES of COMMUNICATION between the First Lord of the Treasury and the Chancellor of the Exchequer, and the Governor and Deputy Governor of the Bank of England, relating to an alteration in the Exclusive privileges enjoyed by the Bank of England.

No. I. Fife House, Jan. 13.

Gentlemen.—We have the honour of transmitting to you herewith a Paper, containing our views upon the present state of the Banking System of this country, with our suggestions thereupon, which we request you will lay before the Court of Directors of the Bank of England for their consideration. We have the honour to be, gentlemen, &c.

(Signed) Liverpool.

FREDERICK JOHN ROBINSON.

The Governor and Deputy-Governor of the Bank of England.

The panic in the money-market having subsided, and the pecuniary transactions of the country having reverted to their accustomed course, it becomes important to lose no time in considering whether any measures can be adopted to prevent the recurrence in future, of such evils as we have recently experienced.

However much the recent distress may have been aggravated, in the judgment of some, by incidental circumstances and particular measures, there can be no doubt that the principal source of it is to be found in the rash spirit of speculation which has pervaded the country for some time, supported, fostered, and encouraged by the country banks.

The remedy, therefore, for this evil in future, must be found in an improvement in the circulation of country paper; and the first measure which has suggested itself, to most of those who have considered the subject, is a recurrence to gold circulation throughout the country, as well as in the metropolis and its neighbourhood, by a repeal of the act which permits country banks to issue one and two pound notes until the year 1833; and by the immediate enactment of a prohibition of any such issues at the expiration of two or three years from the present period.

It appears to us to be quite clear, that such a measure would be productive of much good; that it would operate as some check upon the spirit of speculation, and upon the issues of country banks; and whilst, on the one hand, it would diminish the pressure upon the Bank and the metropolis, incident to an unfavourable state of the exchanges, by spreading it over a wider surface; on the other hand, it would cause such pressure to be earlier felt, and thereby ensure an earlier and more general adoption of precautionary measures necessary for counteracting the inconveniences incident to an export of the precious metals. But though a recurrence to a gold circulation in the country, for the reasons already stated, might be productive of some good, it would by no means go to the root of the evil.

We have abundant proof of the truth of this position, in the events which took place in the spring of 1793, when a convulsion occurred in the money transactions and circulation of the country more extensive than that which we have recently experienced. At that period nearly a hundred country banks were obliged to stop payment, and Parliament was induced to grant an issue of Exchequer-bills to relieve the distress. Yet, in the year 1793, there were no one or two pound notes in circulation in England, either by country banks or by the Bank of England.

We have a further proof of the truth of what has been advanced, in the experience of Scotland, which has escaped all the convulsions which have occurred in the money-market of England for the last thirty-five years, though Scotland during the whole of that time has had a circulation of one-pound notes; and the small pecuniary transactions of that part of the United Kingdom have been carried on exclusively by the means of such notes.

The issue of small notes, though it be an aggravation, cannot therefore be the sole or even the main cause of the evil in England.

The failures which have occurred in England, unaccompanied as they have been by the same occurrences in Scotland, tend to prove that there must have been an unsolid and delusive system of banking in one part of Great Britain, and a solid and substantial one in the other.

It would be entirely at variance with our deliberate opinion, not to do full justice to the Bank of England, as the great centre of circulation and commercial credit.

We believe that much of the prosperity of the country for the last century is to be ascribed to the general wisdom, justice, and fairness of the dealings of the Bank; and we further think, that during a great part of that time, it may have been, in itself and by itself, fully equal to all the important duties and operations confided to it. But the progress of the country during the last thirty or forty years, in every branch of industry, in agriculture, manufactures, commerce, and navigation, has been so rapid and extensive, as to make it no reflection upon the Bank of England to say, that the instrument, which, by itself, was fully adequate to former transactions, is no longer sufficient without new aids to meet the demands of the present times.

We have to a considerable degree, the proof of this position, in the very establishment of so many country banks.

Within the memory of many living, and even of some of those now engaged in public affairs, there were no country banks, except in a few of the great commercial towns.

The money transactions of the country were carried on by supplies of coin and Bank notes from London.

The extent of the business of the country, and the improvement made from time to time in the mode of conducting our increased commercial transactions, founded on pecuniary credit, rendered such a system no longer adequate, and country banks must have arisen, as in fact they did arise, from the increased wealth and new wants of the country.

The matter of regret is, not that country banks have been suffered to exist, but that they have been suffered so long to exist without control or limitation, or without the adoption of provisions calculated to counteract the evils resulting from their improvidence or excess.

It would be vain to suppose, that we could now, by any act of the legislature, extinguish the existing country banks, even if it were desirable; but it may be within our power, gradually at least, to establish a sound system of banking throughout the country; and if such a system can be formed, there can be little doubt that it would ultimately extinguish and absorb all that is objectionable and dangerous in the present banking establishments.

There appear to be two modes of attaining this object:

First, That the Bank of England should establish branches of its own body in different parts of the country.

Secondly, That the Bank of England should give up its exclusive privilege as to the number of partners engaged in banking, except within a certain distance from the metropolis.

It has always appeared to us, that it would have been very desirable that the Bank should have tried the first of these plans—that of establishing branch banks, upon a limited scale. But we are not insensible to the difficulties which would have attended such an experiment, and we are quite satisfied that it would be impossible for the Bank, under present circumstances, to carry into execution such a system, to the extent necessary for providing for the wants of the country.

There remains, therefore, only the other plan —the surrender by the Bank of their exclusive privilege, as to the number of partners, beyond a certain distance from the metropolis.

The effect of such a measure would be, the gradual establishment of extensive and respectable banks in different parts of the country; some perhaps with charters from the Crown, under certain qualifications, and some without.

Here we have again the advantage of the experience of Scotland.

In England there are said to be between 800 and 900 country banks; and it is no exaggeration to suppose that a great proportion of them have not been conducted with a due attention to those precautions which are necessary for the safety of all banking establishments, even where their property is most ample. When such banks stop, their creditors may ultimately be paid the whole of their demands, but the delay and shock to credit may, in the mean time, involve them in the same difficulty, and is always attended with the greatest injury and suffering in the district where such stoppages occur. If this be the case where the solidity of the bank is unquestionable, what must it be when (as too often happens) they rest on no solid foundation.

In Scotland there are not more than thirty banks; and these banks have stood firm amidst all the convulsions in the money-market in England, and amidst all the distresses to which the manufacturing and agricultural interests in Scotland, as well as in England, have occasionally been subject.

Banks of this description must necessarily be conducted upon the general understood and approved principles of banking.

Individuals are, from the nature of the institutions, precluded from speculating in the manner in which persons engaged in country, and even in London banks, speculate in England.

If the concerns of the country could be carried on without any other bank than the Bank of England, there might be some reason for not interfering with their exclusive privilege; but the effect of the law at present is, to permit every description of banking, except that which is solid and secure.

Let the Bank of England reflect on the dangers to which it has been recently subject, and let its directors and proprietors then say, whether, for their own interests, such an improvement as is suggested in the banking system is not desirable, and even necessary.

The Bank of England may perhaps propose, as they did upon a former occasion, the extension of the term of their exclusive privilege, as to the metropolis and its neighbourhood, beyond the year 1833, as the price of this concession.

It would be very much to be regretted that they should require any such condition.

It is clear that in point of security they would gain by the concession proposed to them, inasmuch as their own safety is now necessarily endangered by all such convulsions in the country circulation as we have lately and formerly witnessed.

In point of profit, would they lose any thing by it, for which they are entitled to demand compensation.

It is notorious, that at the present time their notes circulate in no part of England beyond the metropolis and its neighbourhood, except in Lancashire; and perhaps for that district some special provision might be made.

But as it is the interest, so it has been and ever will be the endeavour, of the country bankers to keep the Bank of England notes out of circulation in those parts of the kingdom where their own circulation prevails. In this they must always be successful, whilst public credit continues in its ordinary state, and the exchanges not unfavourable to this country. The consequences are, that in such times the Bank of England becomes in a manner the sole depository for gold; and in times of an opposite tendency, the sole resort for obtaining it; that at one period their legitimate profit is curtailed by an accumulation of treasure beyond what would be required by a due attention to their own private safety as a banking establishment; and at another period they are exposed to demands which endanger that safety, and baffle all the ordinary calculations of foresight and prudence.

If, then, the Bank of England has no country circulation, except in the county above named, the only question for them to consider is, whether, on the ground of profit, as well as security to themselves, the existing country circulation shall or shall not be improved.

With respect to the extension of the term of their exclusive privileges in the metropolis and its neighbourhood, it is obvious, from what passed before, that parliament will never agree to it.

Such privileges are out of fashion; and what expectation can the Bank, under present circumstances, entertain that theirs will be renewed? But there is no reason why the Bank of England should look at this consequence with dismay. They will remain a chartered corporation for carrying on the business of banking. In that character they will, we trust, always continue to be the sole bankers of the state, and with these advantages, so long as they conduct their affairs wisely and prudently, they always must be the great centre of banking and circulation.

Theirs is the only establishment at which the dividend due to the public creditor can by law be paid.

It is to be hoped, therefore, that the Bank will make no difficulty in giving up their exclusive privileges, in respect to the number of partners engaged in banking, as to any district——miles from the metropolis.

Should the Bank be disposed to consent to a measure of this nature in time to enable the government to announce such a concession at the opening of parliament, it would afford great facilities to the arrangement which they may have to propose for ensuring the stability of private credit, in which the support of public credit and the maintenance of public prosperity are so materially and closely involved.

No. II.—At a Court of Directors at the Bank, January 20:

This court having taken into consideration the important paper received from the first lord of the Treasury and the chancellor of the Exchequer, have resolved—

That however essentially they may differ on certain views and sentiments therein laid down and expressed, it is not for the court at I the present moment to offer any opinions of their own, the paper appearing to be intended as declaratory of the grounds on which his majesty's ministers have come to the determination to require the Bank to give up its exclusive privilege as to the number of partners engaged in banking, except within a certain distance from the metropolis.

It cannot, however, be considered inconsistent with this forbearance, to state the apprehensions of the court of Directors, that confidence is not so fully restored as lord Liverpool and the chancellor of the Exchequer seem to imagine.

Though the panic has subsided, credit, both public and private, remains in a very uncertain and anxious state.

That the country circulation is in many parts extremely defective, cannot be controverted; and the Bank would very reluctantly oppose itself to any measures tending to ameliorate it, but would be glad to promote that object, either by fresh exertions on their part, should such be found practicable, or by any reasonable sacrifice.

Under the uncertainty in which the court of Directors find themselves with respect to the details of the plans of government, and the effect which they may have on the interests of the Bank, this court cannot feel themselves justified in recommending to their proprietors to give up the privilege which they now enjoy, sanctioned and confirmed as it is by the solemn acts of the legislature.

No. III.—The first lord of the Treasury and the chancellor of the Exchequer have duly considered the answer of the Bank of the 20lh inst.

They cannot but regret that the court of Directors should have declined to recommend to the court of Proprietors the consideration of the paper delivered by the first lord of the Treasury and the chancellor of the Exchequer to the governor and deputy governor of the Bank on the 13th instant.

The statement contained in that paper appears to the first lord of the Treasury and chancellor of the Exchequer so full and explicit on all the points to which it relates, that they have nothing further to add, although they would hive been, as they still are, ready to answer, as far as possible, any specific questions which might be put, for the purpose of "removing the uncertainty in which the court of Directors state themselves to be with respect to the details of the plan suggested in that paper."

After all, the simple question for the Bank to consider is, whether they are willing to relinquish their exclusive privilege as to the number of partners engaged in banking at a certain distance from the metropolis?

The first lord of the Treasury and the chancellor of the Exchequer are satisfied that the profits of the Bank would in no degree be affected by their consenting to such a proposal.

Convinced of this, and that its adoption by the Bank is as important to their own security as to that of the public, it does not appear that the Bank can be equitably entitled to claim any compensation for the surrender of this privilege of their charter.

Against any proposition for such compensation the first lord of the Treasury and chancellor of the Exchequer formally protest; but if the Bank should be of opinion that this concession should be accompanied with other conditions, and that it ought not to be made without them, it is for the Bank to bring forward such conditions.

Fife-house, Jan. 23.

No. IV.—At a Court of Directors at the Bank, January 26;

The governor laid before the court the following minute of the committee of Treasury, viz.—

Committee of Treasury, Jan. 25.

The committee of Treasury having taken into consideration the paper received from the first lord of the Treasury and the chancellor of the Exchequer, dated January 23, 1826, and finding that his majesty's ministers persevere in their desire to propose to restrict immediately the exclusive privilege of the Bank, as to the number of partners engaged in banking, to a certain distance from the metropolis, and also continue to be of opinion, that parliament would not consent to renew the privilege at the expiration of the period of their present charter; finding, also, that the proposal by the Bank, of establishing branch banks, is deemed by his majesty's ministers inadequate to the wants of the country, are of opinion, that it would be desirable for this corporation to propose, as a basis, the act of the 6th Geo. IV. c. 42, which states the conditions on which the Bank of Ireland relinquished its exclusive privilege; this corporation waving the question of a prolongation of time, although the committee cannot agree in the opinion of the first lord of the Treasury and the chancellor of the Exchequer, that they are not making a considerable sacrifice, adverting especially to the Bank of Ireland remaining in possession of that privilege five years longer than the Bank of England.

The act above alluded to contains the following clauses, sections 4 and 18. [See the annexed paper, marked A.]

(A)—"Provided always, and be it further enacted, that nothing in this act contained shall extend, or be construed to extend, to enable or authorize any such society or copartnership, either by any member or members thereof, or by their agent, or any other person on behalf of such society or copartnership, to pay, issue, or re-issue, at Dublin, or within 50 miles thereof, any bill or note of such society or copartnership, which shall be payable to

bearer on demand, or any Bank post-bill, nor to draw upon any partner or agent who may be resident in Dublin, or within 50 miles thereof, any bill of exchange which shall be payable on demand, or which shall be for less amount than 50 l., nor to borrow, owe, or take up in England, or in Dublin, or within 50 miles thereof, any sum or sums of money, or any promissory note, or bill of any such society or copartnership, payable on demand, or at any less time than six months from the borrowing thereof, or to make or issue any bill or bills of exchange, or promissory note or notes of such society or copartnership, contrary to the provisions of the said recited acts of the 21st and 22nd years of king George the 3rd, or of the 1st and 2nd of his present majesty, save as provided by this act in that behalf.

"And be it further enacted, that execution upon any judgment in any action obtained against any public officer, for the time being, of any such society or copartnership, whether as plaintiff or defendant, may be issued against any member or members, for the time being, of such society or copartnership, and that in case any such execution against any member or members, for the time being, of such society or copartnership, shall be ineffectual for obtaining payment and satisfaction of the amount of such judgment, it shall be lawful for the party or parties so having obtained judgment against such public officer for the time being, to issue execution against any person or persons who was or were a member or members of such society or copartnership, at the time when the contract or contracts, or engagement or engagements, on which such judgment may have been obtained, was or were entered into. Provided always, that no such execution as last mentioned shall be issued without leave first granted on motion in open court, by the court in which such judgment shall have been obtained, and which motion shall be made on notice to the person or persons sought to be charged; nor after the expiration of three years next after any such person or persons shall have ceased to be a member or members of such society or copartnership."

Resolved,—That the foregoing recommendation of the committee of Treasury be agreed to; and that the governor and deputy governor be requested to lay it before the first lord of the Treasury and the chancellor of the Exchequer.

No. V.—The first lord of the Treasury and the chancellor of the Exchequer have taken into consideration the paper delivered to them by the governor and deputy governor of the Bank, on the 27th instant.

They think it right to lose no time in expressing their concurrence in the proposition which has been sanctioned by the court of Directors, as to the exclusive privilege of the Bank of England, and are willing to agree that the two clauses inserted in the Irish act last year, and referred to in the paper communi cated by the governor and deputy governor on the 27th instant, shall be inserted in the bill, which will be necessary to give effect to the new arrangement.

The first lord of the Treasury and the Chancellor of the Exchequer cannot conclude without adverting to that part of the paper of the Bank which respects branches of the Bank of England. In their paper of the 13th of January, the first lord of the Treasury and the chancellor of the Exchequer have stated the reasons why they are of opinion that, under all the present circumstances, the establishment of branches of the Bank of England would not of itself be sufficient to meet all the exigencies of the country; but they are so far from wishing to discourage the establishment of such branches, that they are decidedly of opinion, that the formation of them, under proper regulations, would be highly advantageous both to the Bank and to the community.

Fife-house, January 28th.

No. VI.—At a general Court of the Governor and Company of the Bank of England, Friday, February 3rd:

Resolved,—That this court do consent to the terms proposed to the Bank, in the papers now read, and do request the court of Directors to carry the arrangement into effect.

The following Treaty was laid on the table by the Chancellor of the Exchequer:—

TREATY of AMITY, COMMERCE, and NAVIGATION, between his Majesty and the State of Colombia, together with an additional article thereunto annexed, Signed at Bogota, April 18,1825.

In the name of the Most Holy Trinity—Extensive commercial intercourse having been established for a series of years between the dominions of his Britannic majesty, and the several provinces or countries of America, which (now united) constitute the State of Colombia, it seems good for the security as well as encouragement of such commercial intercourse-and, for the maintenance of good understanding between his said Britannic majesty and the said state, that the relations now subsisting between them should be regularly acknowledged and confirmed by the signature of a treaty of amity, commerce, and navigation. For this purpose they have named their respective plenipotentiaries, that is to say,—His Majesty the King of the United Kingdom of Great Britain and Ireland, John Potter Hamilton, esq.; and Patrick Campbell, esq.;—and the Vice-president, charged with the executive power of the State of Colombia, Pedro Gual, secretary of state in the department for foreign affairs, and general Pedro Briceno Mendez;—r who, after having communicated to each other their respective full powers, found to be in due and proper form, have agreed upon and concluded the following articles:—

Art. 1.—There shall be perpetual, firm, and sincere amity between the dominions and subjects of his majesty the king of the United Kingdom of Great Britain and Ireland, his heirs, and successors, and the State and people of Colombia.

Art. 2.—There shall be, between all the territories of his Britannic majesty in Europe, and the territories of Colombia, a reciprocal freedom of commerce. The subjects and citizens of the two countries, respectively, shall have liberty freely and securely to come, with their ships and cargoes, to all such places ports, and rivers, in the territories aforesaid, to which other foreigners are or may be permitted to come, to enter into the same, and to remain and reside in any part of the said territories, respectively; also to hire and occupy houses and warehouses for the purposes of their commerce; and, generally, the merchants and traders of each nation, respectively, shall enjoy the most complete protection and security for their commerce; subject always to the laws and statutes of the two countries, respectively.

Art. 3.—His majesty the king of the United Kingdom of Great Britain and Ireland engages further that the citizens of Colombia shall have the like liberty of commerce and navigation stipulated for in the preceding article, in all his dominions situated out of Europe, to the full extent in which the same is permitted at present, or shall be permitted hereafter, to any other nation.

Art. 4.—No higher or other duties shall be imposed on the importation into the territories of his Britannic majesty, of any articles of the growth, produce, or manufacture of Colombia, —and no higher or other duties shall be imposed on the importation into the territories of Colombia, of any articles of the growth, produce, or manufacture of his Britannic majesty's dominions, than are or shall be payable on the like articles, being the growth, produce, or manufacture of any other foreign country; nor shall any other or higher duties or charges be imposed in the territories or dominions of either of the contracting parties, on the exportation of any articles to the territories or dominions of the other, than such as are or may be payable on the exportation of the like articles to any other foreign country; nor shall any prohibition be imposed upon the exportation or importation of any articles the growth, produce, or manufacture of his Britannic majesty's dominions, or of the said territories of Colombia, to or from the said dominions of his Britannic majesty, or to or from the said territories of Colombia, which shall not equally extend to all other nations.

Art. 5.—No higher or other duties or charges on account of tonnage, light, or harbour dues, pilotage, salvage in case of damage or shipwreck, or any other local charges, shall be im- posed, in any of the ports of Colombia, on British vessels, than those payable in the same ports by Colombian vessels; nor in the ports of his Britannic majesty's territories, on Colombian vessels, than shall be payable in the same ports on British vessels.

Art. 6.—The same duties shall be paid on the importation into the territories of Colombia of any article the growth, produce, or manufacture of his Britannic majesty's dominions, whether such importation shall be in Colombian or in British vessels; and the same duties shall be paid on the importation into the dominions of his Britannic majesty of any article of the growth, produce, or manufacture of Colombia, whether such importation shall be in British or Colombian vessels. The same duties shall be paid, and the same drawbacks and bounties allowed, on the exportation to Colombia of any articles of the growth, produce, or manufacture of his Britannic majesty's dominions, whether such exportation shall be in Colombian or in British vessels; and the same duties shall be paid, and the same bounties and drawbacks allowed, on the exportation of any articles the growth, produce, or manufacture of Colombia to his Britannic majesty's dominions, whether such exportation shall be in British or Colombian vessels.

Art. 7.—In order to avoid any misunderstanding with respect to the regulations which may respectively constitute a British or a Colombian vessel, it is hereby agreed, that all vessels built in the dominions of his Britannic majesty, and owned by British subjects, or by any of them, and whereof the master and three-fourths of the mariners, at least, are British subjects, excepting where the laws provide for any extreme cases, shall be considered as British vessels; and that all vessels built in the territories of Colombia, and owned by the citizens thereof, or any of them, and whereof the master and three fourths of the mariners, at least, are Colombian citizens, excepting where the laws provide for any extreme cases, shall be considered as Colombian vessels.

Art. 8.—All merchants, commanders of ships, and others, the subjects of his Britannic majesty, or citizens of the state of Colombia, shall have full liberty, in all the territories of both powers, respectively, to manage their own affairs themselves, or to commit them to the management of whomsoever they please, as broker, factor, agent, or interpreter; nor shall they be obliged to employ any other persons for those purposes, nor to pay them any salary or remuneration unless they shall choose to employ them; and absolute freedom shall be allowed, in all cases, to the buyer and seller, to bargain and fix the price of any goods, wares, or merchandise imported into, or exported from, the territories of either of the contracting parties, as they shall see good.

Art. 9.—In whatever relates to the lading, and unlading of ships, the safety of merchandize, goods, and effects, the succession to personal estates, and the disposal of personal property of every sort and denomination, by sale, donation, exchange, or testament, or in any other manner whatsoever, as also the administration of justice, the subjects and citizens of the two contracting parties shall enjoy, in their respective dominions and territories, the same privileges, liberties, and rights, as the most favoured nation, and shall not be charged, in any of these respects, with any higher imposts or duties than those which are paid, or may be paid, by the native subjects or citizens of the power in whose dominions or territories they may be resident.

They shall be exempted from all compulsory military service whatsoever, whether by sea or land, and from all forced loans, or military exactions and requisitions; neither shall they be compelled to pay any ordinary taxes, under any pretext whatsoever, greater than those that are paid by the subjects or citizens of one or other power.

Art. 10.—It shall be free for each of the two contracting parties to appoint consuls for the protection of trade, to reside in the dominions and territories of the other party; but before any consul shall act as such, he shall, in the usual form, be approved and admitted by the government to which he is sent; and either of the contracting parties may except from the residence of consuls, such particular places as either of them may judge fit to be so excepted.

Art. 11.—For the better security of commerce between the subjects of his Britannic majesty and the citizens of Colombia, it is agreed, that if at any time any interruption of friendly commercial intercourse, or any rupture should unfortunately take place between the two contracting parties, the subjects or citizens of either of the two contracting parties, residing in the dominions of the other, shall have the privilege of remaining and continuing their trade therein, without any manner of interruption, so long as they behave peaceably, and commit no offence against the laws; and their effects and property, whether intrusted to individuals or to the state, shall not be liable to seizure or sequestration, or to any other demands than those which may be made upon the like effects or property belonging to the native inhabitants of the state in which such subjects or citizens may reside.

Art. 12.—The subjects of his Britannic majesty residing in the territories of the state of Colombia shall enjoy the most perfect and entire security of conscience, without being annoyed, prevented, or disturbed on account of their religious belief. Neither shall they be annoyed, molested, or disturbed in the proper exercise of their religion, provided that this take place in private houses, and with the decorum due to divine worship, with due respect to the laws, usages, and customs of the country. Liberty shall also be granted to bury the subjects of his Britannic majesty, who may die in the said territories of Colombia, in convenient and adequate places, to be appointed and es- tablished by themselves for that purpose, with the knowleege of the local authorities. Nor shall the funerals or sepulchres of the dead be disturbed in any wise, nor upon any account. In the like manner the citizens of Colombia shall enjoy within all the dominions of his Britannic majesty, a perfect and unrestrained liberty of conscience, and of exercising their religion publicly or privately, within their own dwelling houses, or in the chapels and places of worship appointed for that purpose, agreeably to the system of toleration established in the dominions of his said majesty.

Art. 13,—The government of Colombia engages to co-operate with his Britannic majesty for the total abolition of the slave trade, and to prohibit all persons inhabiting within the territories of Colombia, in the most effectual manner, from taking any share in such trade.

Art. 14.—And forasmuch as it would be convenient and useful, for the purpose of facilitating the mutual good understanding between the two contracting parties, and for avoiding all difficulties henceforward, that other articles should be proposed and added to the present treaty, which articles, both from a want of due time for their consideration, as well as from the pressure of circumstances, cannot at present be drawn up with the required perfection, it has been and is agreed, on the part of both powers, that they will, with the least possible delay, come forward to treat and agree upon such articles as may be wanting to this treaty, and deemed mutually beneficial; and which articles, when they shall be agreed upon, and shall be duly ratified, shall form part of the present treaty of amity, commerce, and navigation.

Art. 15.—The present treaty shall be ratified by his majesty the king of the united kingdom of Great Britain and Ireland, and by the president or vice-president charged with the executive power of the state of Colombia, with the consent and approbation of the Congress of the said state; and the ratifications shall be exchanged at London within the space of six months, or sooner if possible.

In witness whereof, the respective plenipotentiaries have signed the same, and have affixed thereto the seals of their arms. Done in the city of Bogota, the 18th day of April, in the year of our Lord 1825.

(L. S.) JOHN POTTER HAMILTON.

(L. S.) PATRICK CAMPBELL.

(L. S.) PEDRO GAUL.

(L. S.) PEDRO BRICENO MENDEZ.

Additional Article.—Whereas, in the present state of Colombian shipping, it would not be possible for Colombia to take advantage of the reciprocity established by the articles, 5, 6, and 7, of the treaty signed this day, if that part should be carried into immediate effect which stipulates that in order to be considered as a Colombian ship, a ship shall actually have been built in Colombia, it is agreed that, for the space of seven years, to be reckoned from

the date of the ratification of this treaty, any ships, where so ever built, being bona fide the property of any of the citizens of Colombia, and whereof the master and three fourths of the mariners, at least, are also Colombian citizens, excepting where the laws provide for any extreme cases, shall be considered as Colombian ships:—His majesty, the king of the United Kingdom of Great Britain and Ireland, reserving to himself the right at the end of the said term of seven years, to claim the principle of reciprocal restriction, stipulated for in Article 7, above referred to, if the interests of British navigation shall be found to be prejudiced by the present exception to that reciprocity, in favour of Colombian shipping.

The present additional article shall have the same force and validity as if it were inserted, word for word in the treaty signed this day. It shall be ratified, and the ratifications shall be exchanged at the same time.

In witness whereof, the respective Plenipotentiaries have signed the same, and have affixed thereto the seals of their arms. Done in the city of Bogota, the 18th day of April, in the year of our Lord 1825.

(L. S.) JOHN POTTER HAMILTON.

(L. S.) PATRICK CAMPBELL.

(L. S.) PEDRO GUAL.

(L. S.) PEDRO BRICENO MENDEZ.

Declaration by His Majesty's principal Secretary of State for Foreign Affairs, on the Exchange of Ratifications.

The undersigned, His Majesty's principal Secretary of State for Foreign Affairs, at the moment of exchanging with Senor Manuel Jose Hurtado, Plenipotentiary of the State of Colombia, the ratifications of the treaty of amity, commerce, and navigation, signed at Bogota, on the 18th of April, 1825, by John Potter Hamilton, esq., and Patrick Campbell, esq., on the part of his majesty, and Senor Pedro Gual, and general Pedro Briceno Mendez, on the part of the State of Colombia, has been commanded by his majesty, in order to avoid any misunderstanding which might possibly arise in the execution of that part of the seventh article of the said treaty, wherein it is defined what ships shall be considered as entitled to the privileges of British and Colombian ships to declare to Senor Hurtado, that, in addition to the qualifications therein expressed, such other ships will likewise be entitled to be considered as British ships, which shall have been captured from an enemy by his majesty's ships of war, or by subjects of his majesty furnished with letters of marque by the lords commissioners of the Admiralty, and regularly condemned in one of his majesty's Prize Courts as a lawful prize, or which shall have been condemned in any competent court, for the breach of the laws made for the prevention of the slave trade; and that, in the same manner, ships captured from the enemy by the ships of Colombia, and condemned under similar circumstances, will likewise be entitled to be considered as Colombian ships. GEORGE CANNING.

London, Nov. 7, 1825.

Senor Manuel Jose Hurtado, &c. &c. &c.

Act of Acceptance of the above Declaration, by the Colombian Plenipotentiary.

The undersigned, Plenipotentiary of the State of Colombia, having received from his Britannic majesty's principal Secretary of State for Foreign Affairs, a declaration, stating, "That in order to avoid any misunderstanding which might possibly arise in the execution of that part of the seventh a: tide of the treaty between his Britannic majesty and the State of Colombia, signed at Bogota, on the 18th of April, 1825, wherein it is defined what ships shall be considered as entitled to the privileges of British and Colombian ships, in addition to the qualifications therein expressed, such other ships will likewise be entitled to be considered as British ships, which shall have been captured from an enemy by his Britannic majesty's ships of war, or by subjects of his said majesty furnished with letters of marque by the lords commissioners of the Admiralty, and regularly condemned in one of his said majesty's Prize Courts as a lawful prize, or which shall have been condemned in any competent court, for the breach of the laws made for the prevention of the slave trade: and that, in the same manner, ships captured from the enemy by the ships of Colombia, and condemned under similar circumstances, will likewise be entitled to be considered as Colombian ships."

The undersigned, in virtue of the full powers with which he is invested, hereby accepts and adopts the said declaration, in the name and on the behalf of his government.

MANUEL JOSE HURTADO.

London, Nov. 7, 1825.

The Right Hon. George Canning, &c. &c. &c.

The following Convention was laid on the table:—

CONVENTION OF COMMERCE between His Majesty and the free Hanseatic Republics of Lubeck, Bremen, and Hamburgh, signed at London, Sept. 29, 1825.

His Majesty the King of the United Kingdom of Great Britain and Ireland on the one part, and the Senate of the free Hanseatic city of Lubeck, the Senate of the free Hanseatic city of Bremen, and the Senate of the free Hanseatic city of Hamburgh (each State for itself separately) on the other part, being equally desirous of affording every facility and encouragemant to their subjects and citizens engaged in commercial intercourse with each other, and being of opinion that nothing will more contribute to the attainment of this desirable object than a reciprocal abrogation of all discriminating and countervailing duties levied upon the ships of the high contracting parties, or upon the cargoes of such ships, in the ports of either, have appointed their plenipotentiaries to conclude a convention for that purpose, that is to say:—

His Majesty the King of Great Britain and Ireland, the Right Hon. George Canning, a Member of His Majesty's Most Hon. Privy Council, a Member of Parliament, and His said Majesty's principal Secretary of State for Foreign Affairs; and the Right Hon. William Huskisson, a Member of His said Majesty's Most Hon. Privy Council, a Member of Parliament, President of the Committee of Privy Council for Affairs of Trade and Foreign Plantations, and Treasurer of His said Majesty's Navy:—

And the Senate of the free Hanseatic city of Lubeck, the Senate of the free Hanseatic city of Bremen, and the Senate of the Free Hanseatic city of Hamburgh, James Colquhoun, Esq. their Agent and Consul-General in Great Britain: —

Who, after having communicated to each other their respective full powers, found to be in due and proper form, have agreed upon and concluded the following articles:

Art. 1. From and after the date hereof, British vessels entering or departing from the ports of the Free Hanseatic Republics of Lubeck, Bremen, or Hamburgh, and Lubeck, Bremen or Hamburgh vessels entering or departing from the ports of the United Kingdom of Great Britain and Ireland, shall not be subject to any other or higher ship duties or charges than are or shall be levied on national vessels entering or departing from such ports respectively.

Art. 2.—AH goods, wares, and merchandise, whether the production of the territories of the free Hanseatic republics of Lubeck, Bremen, or Hamburgh, or of any other country, which may be legally imported from any of the ports of the said republics into the United Kingdom of Great Britain and Ireland in British vessels, shall, in like manner, be permitted to be imported in Lubeck, Bremen, or Hamburgh vessels: and all goods, wares, and merchandise, whether the production of any of the dominions of his Britannic majesty, or of any other country, which may be legally exported from the ports of the United Kingdom in British vessels, shall, in like manner, be permitted to be exported from the said ports in Lubeck, Bremen, or Hamburgh vessels. And all goods, wares, and merchandise, which may be legally imported into or exported from the ports of Lubeck, Bremen, or Hamburgh, in national vessels, shall, in like manner, be permitted to be imported into or exported from the ports of Lubeck, Bremen, or Hamburgh, in British vessels.

Art. 3.—All goods, wares, and merchandise, which can be legally imported into the ports of the United Kingdom directly from the ports of Lubeck, Bremen, or Hamburgh, or either of them, shall be admitted at the same rate of duty, whether imported in British vessels, or in vessels belonging to either of the said republics:—and all goods, wares, and merchandise, which can be legally exported from the United Kingdom, shall be entitled to the same bounties, drawbacks, and allowances, whether exported in British or Hanseatic vessels. And the like reciprocity shall be observed, in the ports of the said republics, in respect to all goods, wares, and merchandise which can be legally imported into or exported from any or either of the said ports, in vessels belonging to the United Kingdom.

Art. 4.—No priority or preference shall be given, directly or indirectly, by any or either of the contracting parties, nor by any company, corporation, or agent, acting on their behalf, or under their authority, in the purchase of any article, the growth, produce, or manufacture of their states, respectively, imported into the other, on account of or in reference to the character of the vessel in which such article was imported; it being the true intent and meaning of the high contracting parties, that no distinction or difference whatever shall be made in this respect.

Art. 5.—In consideration of the limited extent of the territories belonging to the republics of Lubeck, Bremen, and Hamburgh, and the intimate connexion of trade and navigation subsisting between these republics, it is hereby stipulated and agreed, that any vessels which have been built in any or either of the ports of the said republics, and which shall be owned exclusively by a citizen or citizens of any or either of them, and of which the master shall also be a citizen of either of them, and provided three fourths of the crew shall be subjects or citizens of any or either of the said republics, or of any or either of the states comprised in the Germanic Confederation, as described and enumerated in the 53rd and 56th articles of the general treaty of Congress, signed at Vienna on the 9th of June, 1815, such vessel, so built, owned, and navigated, shall, for all the purposes of this convention, be taken to be and considered as a vessel belonging to Lubeck, Bremen, or Hamburgh.

Art. 6.—Any vessel, together with her cargo, belonging to either of the three free Hanseatic republics of Lubeck, Bremen, or Hamburgh, and coming from either of the said ports to the United Kingdom, shall, for all the purposes of this convention, be deemed to come from the country to which such vessel belongs; and any British vessel and her cargo trading to the ports of Lubeck, Bremen, or Hamburgh, directly or in succession, shall, for the like purposes, be on the footing of a Hanseatic vessel and her cargo making the same voyage.

Art. 7.—It is further mutually agreed, that no higher or other duties shall be levied, in any or either of the states of the high contracting parties, upon any personal property of the subjects and citizens of each, respectively, on the removal of the same from the dominions or territory of such states (either upon inheritance of such property or otherwise), than are or shall be payable, in each state, upon the like property, when removed by a subject or citizen of such state, respectively.

Art. 8.—The high contracting parties reserve to enter upon additional stipulations for the purpose of facilitating and extending, even beyond what is comprehended in the convention of this date, the commercial relations of their respective subjects and dominions, citizens, and territories, upon the principle either of reciprocal or equivalent advantages, as the case may be; and in the event of any article or articles being concluded between the said high contracting parties, for giving effect to such stipulations, it is hereby agreed that the article or articles which may hereafter be so concluded, shall be considered as forming part of the present convention.

Art. 9.—The present convention shall be in force for the term of ten years from the date hereof; and further, until the end of twelve months after the king of the united kingdom of Great Britain and Ireland, on the one part, or the governments of the free Hanseatic republics of Lubeck, Bremen, or Hamburgh, or either of them, on the other part, shall have given notice of their intention to terminate the same; each of the said high contracting parties reserving to itself the right of giving such notice to the other, at the end of the said term of ten years: and it is hereby agreed between them, that at the expiration of twelve months after such notice shall have been received by either of the parties from the other, this convention, and all the provisions thereof, shall altogether cease and determine, as far as regards the states giving and receiving such notice; it being always understood and agreed, that if one or more of the Hanseatic republics aforesaid shall, at the expiration of ten years from the date hereof, give or receive notice of the proposed termination of this convention, such convention shall nevertheless remain in full force and operation, as far as regards the remaining Hanseatic republics or republic which may not have given or received such notice.

Art. 10.—The present convention shall be ratified, and the ratifications shall be exchanged at London within one month from the date hereof, or sooner if possible.

In witness whereof the respective plenipotentiaries have signed the same, and have affixed thereto the seals of their arms. Done at London the 29th day of September, in the year of our Lord 1825.

(L.S.) GEORGE CANNING.

(L.S.) W. HUSKISSON.

(L.S.) JAMES COLQUHOUN.

The following Convention was laid on the table:—

CONVENTION OF COMMERCE between his Majesty and the Most Christian King, together with two Additional Articles thereunto annexed. Signed at London, January 26th, 1826.

In the name of the Most Holy Trinity.—His Majesty the King of the United Kingdom of Great Britain and Ireland on the one part, and His Majesty the King of France and Navarre on the other part, being equally animated by the desire of facilitating the commercial intercourse between their respective subjects, and being persuaded that nothing can more contribute to the fulfilment of their mutual wishes in this respect, than to simplify and equalize the regulations which are now in force relative to the navigation of both kingdoms, by the reciprocal abrogation of all discriminating duties levied upon the vessels of either of the two nations in the ports of the other, whether under the head of duties of tonnage, harbours, lighthouse, pilotage, and others of the same description; or in the shape of increased duties upon goods on account of their being imported or exported in other than national vessels; have named as their plenipotentiaries to conclude a convention for this purpose—that is to say:—

His Majesty the King of the United Kingdom of Great Britain and Ireland, the Right Hon. George Canning, a Member of his said Majesty's Most Honourable Privy Council, a Member of Parliament, and his said Majesty's principal Secretary of State for Foreign Affairs, and the Right Hon. William Huskisson, a Member of His said Majesty's Most Honourable Privy Council, a Member of Parliament, President of the Committee of Privy Council for Affairs of Trade and Foreign Plantations, and Treasurer of His said Majesty's Navy:

And His Majesty the King of France and Navarre, the Prince Jules, Count de Polignac, a Peer of France, Marechal de-Camp of His Most Christian Majesty's Forces, Knight of the Royal and Military Order of St. Louis, Officer of the Royal Order of the Legion of Honour, Grand Cross of the Order of St. Maurice of Sardinia, Aide-de-Camp of His Most Christian Majesty, and his Ambassador at the Court of His Britannic Majesty:

Who, after having communicated to each other their respective full powers, found to be in due and proper form, have agreed upon and concluded the following articles:—

Art. 1.—From and after the fifth of April of the present year, French vessels, coming from or departing for the ports of France, or, if in ballast, coming from or departing for any place, shall not be subject, in the ports of the United Kingdom, either on entering into or departing from the same, to any higher duties of tonnage, harbour, light-house, pilotage, quarantine, or other similar or corresponding duties, of whatever nature, or under whatever denomination, than those to which British vessels, in respect of the same voyages, are or may be subject, on entering into or departing from such ports; and, reciprocally, from and after the same period, British vessels coming from or departing for the ports of the United Kingdom, or if in ballast, coming from or departing for any place, shall not be subject, in the ports of France, either on entering into or departing from the same, to any higher duties of tonnage, harbour, light-house, pilotage, quarantine, or other similar or corresponding duties, of whatever nature, or under whatever denominations, than those to which French vessels, in respect to the same voyages, are or may be subject on entering into or departing from such ports; whether such duties are collected separately, or are consolidated in one and the same duty; his most Christian Majesty reserving to himself to regulate the amount of such duty or duties in France, according to the rate at which they are or may be established in the United Kingdom: at the same time, with the view of diminishing the burdens imposed upon the navigation of the two countries, his most Christian Majesty will always be disposed to reduce the amount of the said burdens in France, in proportion to any reduction which may hereafter be made of those now levied in the ports of the United Kingdom.

Art. 2.—Goods, wares, and merchandise, which can or may be legally imported into the ports of the United Kingdom from the ports of France, if so imported in French vessels, shall be subject to no higher duties than if imported in British vessels, and, reciprocally, goods, wares, and merchandise, which can or may be legally imported into the ports of France, from the ports of the United Kingdom, if so imported in British vessels, shall be subject to no higher duties than if imported in French vessels. The produce of Asia, Africa, and America, not being allowed to be imported from the said countries nor from any other, in French vessels, nor from France in French, British, or any other vessels, into the ports of the United Kingdom, for home consumption, but only for warehousing and re-exportation, his most Christian Majesty reserves to himself to direct that, in like manner, the produce of Asia, Africa, and America, shall not be imported from the said countries, nor from any other, in British vessels, nor from the United Kingdom in British, French, or any other vessels, into the ports of France, for the consumption of that kingdom, but only for warehousing and re-exportation.

With regard to the productions of the countries of Europe, it is understood between the high contracting parties, that such productions shall not be imported in British ships into France for the consumption of that kingdom, unless such ships shall have been laden therewith in some port of the United Kingdom; and that his Britannic Majesty may adopt, if he shall think fit, some corresponding restrictive measure, with regard to the productions of the countries of Europe imported into the ports of the United Kingdom in French vessels: the high contracting parties reserving, however, to themselves the power of making, by mutual consent, such relaxations in the strict execution of the present article as they may think useful to the respective interests of the two countries, upon the principle of mutual concessions, affording each to the other reciprocal or equivalent advantages.

Art. 3.—All goods, wares, and merchandise, which can or may be legally exported from the ports of either of the two countries, shall, on their export, pay the same duties of export, action, whether the exportation of such goods, wares, and merchandise, be made in British or in French vessels, provided the said vessels proceed, respectively, direct from the ports of the one country to those of the other. And all the said goods, wares, and merchandise, so exported in British or French vessels, shall be reciprocally entitled to the same bounties, drawbacks, and other allowances of the same nature, which are granted by the regulations of each country respectively.

Art. 4.—It is mutually agreed between the high contracting parties, that in the intercourse of navigation between their two countries, the vessels of any third power shall, in no case, obtain more favourable conditions than those stipulated in the present convention in favour of British and French vessels.

Art. 5.—The fishing-boats of either of the two countries, which may be forced by stress of weather to seek shelter in the ports or on the coast of the other country, shall not be subject to any duties or port charges of any description whatsoever; provided the said boats, when so driven in by stress of weather, shall not discharge or receive on board any cargo, or portion of cargo, in the ports or on the parts of the coast where they shall have sought shelter.

Art. 6.—It is agreed that the provisions of the present convention between the high contracting parties shall be reciprocally extended and in force, in all the possessions subject to their respective dominion in Europe.

Art. 7.—The present convention shall be in force for the term of ten years, from the 5th of April of the present year; and further, until the end of twelve months after either of the high contracting parties shall have given notice to the other of its intention to terminate its operation; each of the high contracting parties reserving to itself the right of giving such notice to the other, at the end of the said term of ten years: and it is agreed between them, that, at the end of the twelve months' extension agreed to on both sides, this convention, and all the stipulations thereof, shall altogether cease and determine.

Art. 8.—The present convention shall be ratified, and the ratifications shall be exchanged in London, within the space of one month, or sooner if possible.

In witness whereof the respective plenipotentiaries have signed the same, and have affixed thereto the seals of their arms. Done at Loudon, the twenty-sixth day of January, in the year of our Lord, 1826.

(L. S.) GEORGE CANNING.

(L. S.) WILLIAM HUSKISSON.

(L. S.) LE PRINCE DE POLIGNAC.

Art. 1.—From and after the first of October present year, French vessels shall be allowed to sail from any port whatever of the countries under the dominion of his most Christian Majesty, to all the colonies of the United Kingdom (except those possessed by the East India Company), and to import into the said colonies all kinds of merchandise (being productions the growth or manufacture of France, or of any country under the dominion of France), with the exception of such as are prohibited to be imported into the said colonies, or are permitted to be imported only from countries under the British dominion; and the said French vessels, as well as the merchandise imported in the same, shall not be subject, in the colonies of the United Kingdom, to other or higher duties than those to which British vessels may be subject, on importing the same merchandise from any foreign country, or which are imposed upon the merchandise itself.

The same facilities shall be granted, reciprocally, in the colonies of France, with regard to the importation, in British vessels, of all kinds of merchandise (being productions the growth and manufacture of the United Kingdom, or of any country under the British dominion), with the exception of such as are prohibited to be imported into the said colonies, or are permitted to be imported only from countries under the dominion of France. And whereas all goods, the produce of any foreign country, may now be imported into the colonies of the United Kingdom, in the ships of that country, with the exception of a limited list of specified articles, which can only be imported into the said colonies in British ships, his majesty the king of the United Kingdom reserves to himself the power of adding to the said list of excepted articles any other, the produce of the French dominions, the addition whereof may appear to his majesty to be necessary for placing the commerce and navigation to be permitted to the subjects of each of the high contracting parties with the colonies of the other, upon a footing of fair reciprocity.

Art. 2.—From and after the same period, French vessels shall be allowed to export from all the colonies of the United Kingdom (except those possessed by the East India Company) all kinds of merchandise, which are not prohibited to be exported from such colonies in vessels other than those of Great Britain; and the said vessels, as well as the merchandise exported in the same, shall not be subject to other or higher duties than those to which British vessels may be subject, on exporting the said merchandise, or which are imposed upon the merchandise itself; and they shall be entitled to the same bounties, drawbacks, and other allowances of the same nature, to which British vessels would be entitled, on such exportation.

The same facilities and privileges shall be granted, reciprocally, in all the colonies of France, for the exportation, in British vessels, of all kinds of merchandise, which are not prohibited to be exported from such colonies in vessels other than those of France.

These two additional articles shall have the same force and validity as if they were inserted, word for word, in the convention signed this day. They shall be ratified, and the ratification shall be exchanged at the same time.

In witness whereof the respective plenipotentiaries have signed the same, and have affixed thereto the seals of their arms. Done at London, the 26th of January, in the year of our Lord 1826.

(L. S.) GEORGE CANNING.

(L. S.) WILLIAM HUSKISSON.

(L. S.) LE PRINCE DE POLIGNAC.