There seems to be a very general impression that the
Bank Directors have driven too good a bargain with Lord ALTHORP for the renewal of their Charter. Many persons, however, are reconciled to the terms of it, by their anxiety to keep matters quiet, and to prevent as much as possible all change in the value of money. This, it is supposed, will result from renewing the Bank Charter according to the proposal of Government. But upon a closer examination of the subject, it appears, that in point of fact the power of the Bank over the circulating medium of the country will be materially augmented, and that the change will be greater than our Optimists of the City are now dreaming of. We are glad to find, therefore, that Colonel TORRENS will move in the House of Commons on Monday, that the Charter of the Bank be renewed, without alteration for one year. Should this not be acceded to, we trust that some attempt will be made to reduce the number of years for which the new Charter is to be granted, to not more than five. We shall be able, before the expiration of that period, to ascertain how the experiment works. At present, the best-informed persons appear to be much in the dark on that point.
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