PP/GC/LE/90 Letter from Sir G.C.Lewis to Henry John Temple, third Viscount Palmerston, on the appointment of commissioners for and the aims of the Sewage Commission, government finances and the appointment of commissions to investigate banking matters, 21 December [1856]
Letter from Sir George Cornewall Lewis, second Baronet, [Chancellor of the Exchequer], probably to Henry John Temple, third Viscount Palmerston: Portman and Ker Seymer have consented to serve on the Sewage Commission. The other commissioners are persons approved by Palmerston with an additional person recommended by W.Cowper. Stradrooke is not amongst their number. Murchison is too busy and has declined, but Brand and Way have consented. Lewis has returned the warrant so that it be sent for the Queen's signature. He has also sent a memorandum explaining the objectives of the commission. "The words of the commission stand thus: `To enquire into the most effectual means of distributing the sewage of towns and of applying it to beneficial and profitable uses.' The principal, if not the only beneficial and profitable use is the fertilization of land." The objective seems to be described in this formula. If the wording had been the fertilization of land and to other beneficial uses, questions might have been raised as to these other uses. Lewis sees from the previous day's TIMES that they are not hopeful of having any of the previous year's income tax remitted. The government has borrowed one million pounds in Exchequer bills from the Bank of England this quarter; "this will complete the use to be made of a borrowing power of four millions". The aim is to have a good balance to pay the January dividends. There is a good article in the BANKERS MAGAZINE for the current month which apparently represents feeling in the City. It recommends a parliamentary enquiry not only into the bank act of 1844, but into the law relating to joint stock banks. "Sadler's case and the royal British swindle have created a strong feeling and I expect that we shall be pressed for enquiry into the latter subject." There will be problems with either having two banking committees at the same time or in referring both subjects to the same committee. A possible solution is for the Commons to have a committee on the bank act of 1844 and the Lords a committee on joint stock banks. Lewis will consult Granville on this plan. Overstone would be a useful man on such a committee. 21 Dec [1856]
Two papers
All images are copyright. Please contact Archives@soton.ac.uk if you wish to reproduce this material
Edward Berkeley Portman, first Baron Portman, later first Viscount Portman
Ker Seymer
William Cowper
Victoria, Queen of England
Sadler case
Great Britain; government; finance
Facebook Twitter Stumbleupon Delicious Digg RSS