v

Nos; Sir, I admit that Banking is are to the country, under prudent management, with even a greater issue than the 200 per cent granted by cu. Bill on its paid up on _esI. , vulmrilw arisbunl bsnot more than one-I d 0 ill -Illbvlbti C ‘tat.-— the Shareholders being legally liable fo the remaining two-thirds. .

There ids .dihrenoc.l conceive. b°l'°°II the per-mzrsdon to issue three times the amount of the paid up Capital. with such a proviso, than it,—for in the one, the Country has a legal guarantee for security ; in the other. peg-niissron is given to issue 200 per amt beyond an? legal liability. _

t does not meet the dillculty, by saying for every and we issue, security is given that amount; or value is received for all the amount of over issue ; or that lionclltgnien have the mana meat of the Bank. The Bill 3 not male them ‘able over the amount of 8106* fltbvvfibed for, so that liability ceases at the amount

too

of the subscri d s . the other_hand, like all

n U 1

‘I

k

A Private Bank, on other mmmercial trsnsactionl. ll bind “P00 the rinciples, of the party concerned being liable in for every pound issued. find “E011 the real or so posed wealth and honor of t e Con- dubtcrh 0 such Bank. They have the privilege of extending their operations to any amount,

cviding there be no statute to the contrary. Biit if the men he ofa reckless.Ip°°|Ill-¢iV0 ch!- racter, they may entail ruin u in hundreds. This, I resume, is the reason w y the Legisla- tures o difllirent Countries where Banking is carried on, have interfered. and in some to such an extent that it is impossible for the Country to In‘ u is. And I venture to allirm that there is not a Country in the world, where permission is granted for any Joint Stodc Bank to issue 200 per amt over its subscribed and paid up capital, _

[conceive the error to have arisen from the fact of this being the first Bill of the kind intro- duced here, and following too closely the acts of other Countries, without duly considering all the cirmisistances cf the case.

I am no Lawyer, nor Legislator, in the general acceptation of the term; nor do I conceive it at all necessary that I should be, in order to be able to lay the basis of a Bill which should give to the shareholders of the Bank am lc remu- noration'.hnd at the some time, legs security to the Count:-y.—And is can be eliicted by the Ollcwri method : let the Capital Stock be, H , £30,003; the Bank to commence operation on one-third of the amount is deposited in II ulh; then to have the privilege of issuing pa to tee times that amount, (so r e present Bill provides.) But the Country can- not hil to perceive that upon every call made uponrthoistock-holders for further instalment, and further issue to take place thereon in the proportion of three to one, that the security

cases in a corresponding ratio, under the pre-

sent Bill.

But instead of calls for a second instalment to enable the Directors to extend their opera- tions, let the books he opened and a further amount of stock be disposed of,-—say, £30,000 more ; lot, as before. one-third of that amount be paid, and so on to the limited amount £100,- 000. By this method, the Bank does a profitable business. and the country has a legal guarantee asochurity for every pound issue .

r, if you would rather, let the capital stock beginning be £100,000, and allow the privilege to couimuice operations on 10 per cent being

id u , and permission to issue r to three

‘mes t at amount; and on the Directors seeing it rpcticable to extend their operations, let a csllbe made for a further instalment of 10 per- cent hnd so on, as the nature of the case may require ;—but afno tiuss to issue paper yond thug times the amount of paid 14 Capital; and at no time, under the sent C iarter, should the issue exceed £100, , the amount of sub- scribed Ca ital. '

Shouldt e Corporation at any time deem it ex ient to extend their operations beyond £1 ‘ n pllcation can be made to the Legislatulre the extension of the Charter. By this means the operations of e Bank can The extended as far as its most ardent sppportors -could desire. But, in any case, the Ba should ‘be liable to quarterly inspection by the Govern-

ment.

Upon these principles only (except that adopted by the United States, that of being bound"to take Government securities to the amount of the Capital Stock) can Banks be

usidcr sa .

Under the present Bill, our paper would be at a heavy discount out of the Colony,as soon as it is known.

Those are reasons why I would call attention to the matter just now, that we may not e deprivtd any longer of the full benefit of such an institution.

Much more might be said: but enough, I prcsnmc,csn be drawn from the above to satisfy any thinking mind that however desirable it may be to have a ‘Bank established among us, that in’ordcr In credit and respectability, its basis should be more secure than the present Bill providh. -

Yours, &c., &c. urn-on.

Oharllittetown, April 24th, 1854.

‘ _ ,_ 'l'o_ correspondents.

" Au Emigrunl."—We do not exactly concur with him in his notions of allowing the board to grow, nor do we think that be has -adduced any new light upon the mutter. Those things are more matters of fashion orlsdividhullhstol‘ is all countries; and those who have has bus'hy boards -sud‘ mustschles will, most .|iks|y, cdltivdtd them; while those to whom nsluro

.'huo not boon so liberal, ‘will prefer to {keep “their

china new reaped." Our business is more with the inside of the heads of our readers than the outside. We thank “ A Subscrlbsr," for coming forward in our cornea no... the attack efthe .s.1mr.'m. w. have long since made up our minds, never to notice any obsoflstibhh respecting ourselves that may ems- auie from that quarter". whatever course we may think tit It pudouowvbun our friends are the subjects

of their illiborsl snimudvorsions. It is to as msttor '

of little consequence who is‘ the editor. " Warsnd, the Wandering Ilicraucé" us correspondent calls him, or any ctltor, their pr would be more inju- rloustliau their abuse. "" ‘- H I ~ u , N W‘ ' ' Iunnsry ct’, t AdVO'C'IDIOItI. .. ....=.-.-..--v....*~:.L.':-.-.'. Vl0Wo I o of High Shcrifi for uson's C035‘ s t ‘ ia‘ phcs of the kids. DNIII. wb milled to accept elm CH1. ' l‘ 5- 31°-||-mil-o Luuinousnu is Council has 5'' PIHN‘ *9 ‘P “fir lost ‘Naodossld 0300 nflsuuiurs Island.

*-.-:.i.°:.r lsllt ;,:m.mc

O -5

cube Agost lulldilt Island for . asthss hosu ofioislly Introduced us such

V “ll 319000}: Q tenant Governor. who was

pleased to osagrsislsio in on hls sppolsunssi.

HASZARD'S GAZETTE. APRIL 26.

Iutnal Improvement Association.

On Friday evening non, 28th inst . the Rev. James R. Nurruwuy will deliver a lecture on " The War in the East-- the bslligsrsnts. and the probable issue." Loeturo to commence precisely at 8 o'clock.

Passong

In the Mail Bosl—W. H. Pope, Esq., Mr. William

Brown, sud Captain Ford, from England; Mr. J. R. Wall, from Boston.

Died. On the 1th inst., Mrs. Chrisly McLeod, the belo- ved wife of Mr. Murdoch Mseleod, shipbuildsr. Grand River, Township 55. I Ier end was poses.

roofless; Positive and Unrcsorved Sale.

Drugs! Groceries! Surgical Instruments!

BY JAMES MORRIS, be sold by Auction on Friday next 28th Inst. at It o'clock at the Subscriber's Sale corn, Queen Street, a large assortment of Dr , Medical Instruments, Groceries, Combs, Brushes. Toilet Bottles. Dressing Cases, &c., &c. 'I‘he whole of the above Iscin to close Consignments, will be sold without the out reserve. Chiirloltetown. April 25th, 1854. Cottage, Field and Furniture, BY AUCTION. 0 BE SOLD. by AUCTION. on Mownnv, the lat tin of MAY next. on the premiacs,s neat little CO AGE. nnd FIELD about four acres. the property of Mr. William Sampson. on the Prince- town Rood, adjoining Crsbbs. about eight miles from Town. Freehold Propcrt ,) immediately-:Ts8l'rer, all his llcussbold FURNl’l‘UltE and EFI-‘E ; Bed-

Service. Glass, Earthenware. and Kitchen Utensils, with various other urlicles. Terms at the time of Sale. JAMES N. HARRIS. Auctioneer. Charlottetown. April I2. I854.

Spring Park Distillery, R Sale or to be Let, the Premises ccccu iod by Mr. Archibald \Vliite, near S rlng Par , con- sisting of a House and Distillery. or further partl-

culsrs npply to Mr. Thomas Bro dsriclr or to

ARC IBALD WHITE.

0 SERVAN'I‘S.—Wsnted, 2 good plain Cooks, and s Hcusemaid. Enquire at Gun. 1‘. “AI- 1.AII>’I Bookstore.

F‘OR SALE—GnovIui. Isr.Ann, situated in Richmond Bay. about one-fourth of a mile from Princatown.

This Island contains about 80 acres, and us a fish- infiislslion is unequalled in this Islsnd.—-having a su cisnt depth of water on one side for vessels of large burthen. and being entirely free from drift sand.

n indisputable Title will be given; and for further rticulsrs, apply to War. FOIIGAN, Esq.. Char-

April 22. 1854.

FNGLISH PAPER HANGINGS.—4000 pieces J of the above. comprising an assortment of I00 dillhrcnt patterns, from 9d. to 7s. per piece-—for sale at the store of the Subscriber.

DANIEL DAVIES.

Isl-6w Iiew

3 3 S 1 :

(Iiew. tf)

Charlottetown, April 24.

Freehold Ilann for Sale.

HE Subscriber ofl'ers for sale a freehold fsrrn

at Dog River, there is a new House and Burn

on thcfremises, a fresh water spring running through the mi dle, and s Creek on the back side of the farm the farm is about} mile below Dog River Bridge,

and is half clear. DONALD LIVINGSTON. Lot SI, Dog River April Zlst, I854.

New York, 25th Icy, 1853.

To whom it may Concern, HIS is to certify that Mr. Siusuui. S-roar, jun., is authorised by us to collect all Moneys duo us, settle our outstanding Accounts, make sales, a point Agents for the sale of . . arsaparilla. throughout the British Provinces, and

the C » NOSTRAND 8t BACH. Sole Proprietors and lllunufiicturers of Dr. S. P 'l‘ownscnd's Sarsapsrills.

-a

I B H-

From the authority granted to me by Messrs. NOITIAND dz Bhcii, solo proprietors of Dr. S. P. 'l‘ovvsend’s Snrsuparillu, I appoint W. R. ATSON‘, Esq.. solo and general Agent for the above Medicine for the Island of Prince Edward.

SAMUEL STORY, Jun.

April 2Ist, I854. Isl~Iw

NOTICE. HE ANNUAL GENERAL MEETING oftho Charlottetown Gas Light Company, will be held in the Tsmporsncc Hall, on Tuusnhr, the Id May, in II o'clock. Ioroucou.

By order of the Board, ROBERT RENNIE, Sec’y. April Illlh, I854. 8i A Hooded W for Sale. A-T Mr. RICHARD I ARTZ’S will be foln a very comfortable and OODE

WAGGON for Sale. Price £40 at .l,hrsc months, approved note.

on C rlottelewn, April 20th, I854.

SALT BEEF. FEW BARRELS of the above for Sale. GEORGE BEER, Jun. CIIIIOIIIIOWII. April 18, I804. Snlll

GRAND DIVISION. OTICE is harsh given. that the next Quarterly Session of the trend Division, 5. ofT.. of this Island, will be holden in the Temperance Hull. Charlottetown. nu 'l‘iruusnsv, the §7lh day of April instant, st 4 p. in. By order, I‘. DESBRISAY. G. S. April Isl, I854.

£20 REWARD.

o and took Ibsrofroui ll Ilsms, and two bags ol'0uts. Whoever will give each iafcnnnlion as will load to the conviction of the Otfondsr, or Olfondors will be paid the sold Reward.

_ BENJAMIN WRIGHT. Belmont Mills, April I7, I800.

'A rusty Hatchet loll behind by the robbers,

w exhibited at the Market House on Market

days with the view of slfording s clue to the detection ofdio or v » -

cnbcnsz. CLOOKSI -. GOOD vsrloty tbr_Sule. from Sixteen to Fifty

Shillings. February I4. II“. GIORGF. SEER. Jun.

' cm

R SALE.

HAT vslusblo plot of GROUND at the head of

Prince Street. formorl y the oils of the Baptist Chutpel. froutiug I00 foot on Euslou Street. and I04 on ppor Prince Street. It is one ufthu mo_ut desir- able situatiousin the suburbs for a gentleman's rosi- dcnco. or is capable of being divided into three good building Lots. For Terms. to. apt to

Ill. II. POPE.

Juno 8.

be Sold.

BY PRIVATE SALE. the following VALUABLE REAL ESTATE of the late Hon. Colonel A.

LAII, situate in Charlottetown. and its vicinity, via:

TOWN LO Hos. 51, 58. 59, 60 and CI . in the Fourth Hundred of Lots in Charlottetown contuini nosroly two Across of Land, fronting on Rcchfo Square, tastefully laid out with ornamental, fruit trees. and Garden ;lt contains also the Family Resi- dooco. out houses of the deceased. of the most com- modicus description.

Towiv Lo-rs Nos. 3, 4, 5 sndtl, in the Third Hundred of Lots in Csrklottotown aforesaid. and Ono-twentieth part of Town Lots Nos. 67, 68 and 09, in the Second hundred of Lots in Charlottetown. ud- joining the uoper of Daniel Hodson, Esq. . in lots to soil purc seru.

Town Lore Nos. 8, 4, and 5. in the Fifth hudrud of Lotsiri Charlottetown, aforesaid, in lots to uni

urc ssrs. P Town L01‘ No. 64. in the Fourth hundred of Lots in Charlottetown, adjoining the residence of the Chlcl Justice. .

Cosnsoiv Lo-rs. I2 and IS. in the Common of, and is close proximity to Charlottetown. connining Twenty-four Acres. in lots to suit purchasers. ‘

Part of Common Lot No. 18, in the Common of Charlottetown. and which forms the Western side of the approach from Town to Government House, in loss to suit purc sets. '

Pas-runs‘. Lor No. 554. in the Royalty of Chur- loltetowu, containing Twelve Aer

Ar.so—PEW No. 81, in the South Aisle of St. Paul's Church, Charlottetown.

For further particulars, apply to W. I-‘onorus Esq. Banister at Law. Charlottetown; st Piclo to J. Hessuxr-on Lassa, tho Actin Executor and one of the Trustees nsrned in the ill of the Isle Colonel A. no. '

Charlottetown, 28th October, I858.

LONDON HOUR. New Fall Goods, for 1853-

UST RECEIVED utlho LONDON H0 USE.

ex Sir Alexander and Helen. flom England, as

extensive supply of BRITISH GOODS. suitable for the season, comprising in DRY GOODS:

Silks. Sstius. plain and figured; Moira Anliqus Dresses, Plastics in every shade. French Marines. Silk Vslvets. black and colored; Orleans and Coburghs, Dress materials of every kind, Clcukirigs in great variety, Robes in the latest fashion. Prints good and

and Luce for

variet , Ribbons uds. Fancy 'I‘rimmin', DreosyBultoris, Ladies’ winter Bcnnots,Do.drass and other Cups, Dc. Csp Fronts and Bordon, Artificial Flowers. Gloves_snd Hosiery. Ladies‘ and Children's Boots and Shoes, Carpet Slippers, Leather Sli poss- Borlin Wools _and Patterns, Penelope Canvass. sbn.

ens, non s, Clothin . Oil floor Cloth, sll widths; Cloth

worstpu‘Tsbls|§o‘yers, ('lI‘abls Liuou. Twilled S i . sits u may c.. Cloths. undressed‘ Oghicslic Cotlcns; Buuvcr, Pilot. superfine and fancy Cloths, Docslrins in variety, Worsted Cord. new article; Hunting Cord. Molsakins, Black and coloud Cotton Vslvsts. Blsnkcts,ull prices; Domestic Sheets, Flsnnols and Sor s; Corded, quilted and hair Poul- cosis. Children's ruses, F r and stsir Carpeting. Crumb Cloths, Stair Dsrnssk, Rubber Coau. Boom. Shoes and Leggings, Stationery: Pei1'umsry,Hairoils, Toilet Soaps, Chamois Skins, r etticost Card, ling Bags, Ladies‘ Furs, Linings, French Csmlnig Handkerchiefs. Hassocks. Silk Handkerchiefs. Fancy Neck Ties, Table Mano. Cotton and muslin Handker- chiefs, Bonnet Shapes. Csp Shapes and Crowns. Gents’ Mufllers, Hearth Rugs, Sackssnd Sucking.

GR OCERIES:

Souchong and Congou Tea, Coffee. Homeopathic Chocolate, Crushed and moist Sugar, Baking Powder Table Salt, Ground and whole Rice, Split Peas, Mustard, Preserved Citron, cheap; Pudding Spices. Spices of all kinds, Glenlield and olsad Starch, Fig and button Blue, Washing Powder. Albert night lights, Soups, Candles. ‘

Anso. a Large and General Assortment of Hard- wsre. the whole having been selected by the Subscri- her in person, and purchased direct from the manu- factories, he can Wllh confidence, recommend them to the public as good and cheap, at the establishment o . HASZARD.

Opposite the Catholic Chapel. Great George Street. Charlottetown, Nov. 14th, I858.

FALL GOODS.

UST IMPORTED, and for sale by the Sub- scriber, at his NEW STORE, next door to his residence in Grallon Street, s choice select of

American and other Goods, I

cou rating of—— SUGAR, in hogsliesds, barrels and by retell, Loaf. crushed and refined e. .

Superior Hyson and Souchcng TEAS, ln chests. hulf chests. and b retail :

COFFEE, RIC . PILOT BREAD. ii barrels and by retail '

GItACl(ERS,CI-IEESE, Vinegar Mustard, 9...

r, Ginger, Table Salt, Soda. Sslerstus, Soap, Ehndlos, Starch, Blue, Burning Fluid, Mstcliu, Tobacco, Cigars, Rosin, Blsc|rmg,dsc. ‘

Fresh Musculul RAISINS. CONFEC'I‘IONARY,, Nuts. Lemon and Ginger Sfirup ,

PRINTED C0'I'I'ONS, t% and Unbleached do. ; Bd-ticks. dtc. Cases of TS slid SHOES ' Ladies’ sad Goutlomorrs India Rubber Ilcots and 8 cos,’ ‘I '

Indlsn Rubber Coats and Oil Suits ; Bufliilo Robes‘ of superior quallty;lIsts and Caps;Couon-wick sud Lamp-wicks ; laid I.smps—palcuI and com ' in variety; CHAIRS, with csilo lasts a stlzitto, in great variety ofpsttorn ' Look‘

I ' rsss

- h V _ licphosds sad by retail; Codlsh Oil, in bcrols and by retail. - Also-an at of 'CURRIEBS' TOOLS; Psih, Tuba. In none or single ‘; Clothes Pins, Broaus, r 0- ‘ l .» Orr Huw-American and Island’ uiunufseturod SOLE LEATIIER, Nests’ Lasllier. CIlfSklos, ail I-lunsss Losrhor. ‘ . ‘ 2 W. B. DAWKJN. Chrleuosswa. November I4. FOR SALE. ' ACRES of land on Tcwsshfi No. II having s that of lo Chains on: Iloctoguo

vor. , 800 Acres on Lot No. I, embracing the West Point of Ihulshud. ' ' _

I00 Ac ,onTuwnshlp‘No.00. I « .2 '~ ruim'i.'uu«. II! p the Royalty of George- mu .‘_ , . ,

Tm Isis 4th Lots in

.s._.

rsvol- u,

' mstcrisl '

THE COLONIAL LII’! ASSURANCE COMPANY.

Govanrsou—u'ua umssr IOIQIAILI 1-isu EARL of ELGIN and KINCARDINB, Governor General of Canada.

Hlsn Osncu—-II St. Andrus Squars. Edin

burgh. Board of Jlanagsnent to Halifax for Nous Sestia and Prices Eduard Isla Hon. M. II. Alrnon. Bunker. Hon. William A. Black. Banker.

Lewis Bliss. Esq.

Charles Twining. ., Bsrrlstor. John Bsyley Bland. .

Hon. Alcxsndor Keith, orchaut. James Stewart, ., Solicitor.

A out 65 Secsolusy—Istthew H. Richcy, Solicitor‘ ho following gentlemen have been a pointed OE cars of the Coliipan in Prince Edwsr Island, and will be prepared to urnish information as to the prin- ciples and practice of the Company and the rates of

ursuco. . Churlottotown—Modiul Advisgr—H. A. Johnston, M. D. Agont—-E. L. L disrd. Goorgetown—Modics Advisor—David Ksyo,M. D. A snt—Willism Sanderson. St. Issuer's-—-Medical Advisor—Jcsoph Boll, M D. AgonI—Thomas Hunt. MATTHEW H. RICHEY.

Oliarlottctovgr Mutual Insurance

ompan , Incorporated b Act of P israent in 1840. THIS COMPA Y ofers the best guarantee in case of loss, and accepts Risks at a saving of full 50 per cent, to the assured. ho presunt reliable Cu ital cxceds .£"°°- P"- sons hss' pony in Charlottetown. or ?'l¢l9“Yv should lose no time in spplyi to the Secretary o.‘ lhll Company for Policies or In emotion. §Ono of Philips’ Fire Aunihilators has been purchased by the Company, for the benefit of persons insured in this Olico. In case F ire, the use crir °" 5' °,P.l'6''fi°;.lll|||°‘IillOl)'. by applying at the

Secretary

W. HEARD. President

HENRY PALMER.

Sec'y and 'I‘ressurer.1" Secretary's Ofics, Kent Street, August 5th, 1358. 3

The National Loan Fund Life Assurance Society of London. CAPITAL £500,000 Starling. Empowered by Act

of Parliament, 2d Victoria. A Saving Bank for

tho Widow and the Orphan. AT. HEATH HAVILAND,jr.

I I’ P ' Ed rd I l .

E 05“. Qllflflsesnqllfllfi.Iénl'l=:r|otlll:iwn.. and ..“P"""’9";J°°3: .____

Equitable Fire Iusuranb;.Cdmph- n of ondon

Incorporated by Act of Parliament.

OARD OF DIRECTORS for P. E. Island.- Hon. _T. H. Haciland. Hon. Charles Hun- Icy. Francis Lougioorth, Esq., Robert Hutchinson,

lq-. Thomas Dawson, Esq. . Detsc isks taken at low Premiums. N. charge for Policies. Forms of Application, and 3- other informaiion, may be obtained from the Sub scriber, sitho Oflicc of G. W.Deblois Esq. Charlotte

town. _ II. J. CUNDALL. Apfll 70!. 1854. Agent for P. E. I.

ALLIANCE LIIIB AND FIRE INSURANCE COM- PJIJVY. LONDON. IITAILIIIII ur AC!‘ or rAur.iAsn'.rs'r. Capital £5,000,000 Stsrlin . CHARLES YODNG, Agent for P. E. Island.

Books! New Books! UST OPENED at G. '1‘. HASZARD'S Book , a Iago supply of NEW BOOKS OJVER I’. among _whioh will be found rd‘ Literature of thodsy—-

roasunss. Chulmer's, Posthumous Works. Purler Libraries, Illustrated Book Case. Noaadar’s Church History.

" Memorials of Christian Life. " Life of ' , Kittc's Pictorial Life of our Saviour, Bsrno’s Notes in 1! vols Iimc, and 2 vols 4to, Cyclopedia of Religious Denominations. written by lnulnburl of tho diferont Denominations,

Farm for Sale or to Let.

HE Subscriber oioru for Sale or to Let, by Pri- vate Contrsct. that valuable Luusshold srm known by the name of the Red Hbuu,silustod in the thriving Settlement of Bay Fortuno,'I‘ownship No. 58; it contains 857} acres of Land, about 60 acres of which are slosrod; there isu good u ring of water on it, about 50 yards from the road. arm of Lease (unex ired) 862 years; rant about Sgd per scro,purto tho urchase money may remain as Sscur’ on 1 arm; immediate possession