to the banker. A few years since a London banker was compelled to lose several thousand pounds in consequence of having paid a bill accepted by an insurance company, the forged endorsements actually existing on the bill at the time it was accepted by the company, whose agent was the defrauder. 2. Forged cheques and acceptances. The recent conviction of a gang of forgers, who had successfully for many years carried on their practices, revealed that these men had organised a scheme of a most perfect character, and were able to reproduce signatures so perfect in their imitation of the originals that it became impossible to detect the fraud until after it had been successfully perpetrated. "In a case in which this bank was defrauded by a series of forged cheques uttered by the clerk of a customer, the execution of the forgeries was so good that the customer himself did not, on the first examination of his paid cheques, detect them all. "2. The proposed bill is unjust, as it will not only relieve, 1st, the customer of the bank from his fair share of responsibility and risk of loss arising from the dishonesty of his own, or the public servants of the post-office service, but, 2nd, will also relieve from the like responsibility and risks persons with whom the banker, as drawee of a cheque, has no connection; it is far from being an improbable occurrence that a cheque shall be issued uncrossed, be crossed with and Co.' by a subsequent holder, and after passing through several hands be the subject of a collusive fraud on the banker. "3. It will tend to generate on the part of the holders of crossed cheques a want of care and caution in guarding these documents. The following circumstance occurring recently with one of our customers, confirms this conviction :-This house is in the habit of sending through the post cheques payable to order,' and in the mistaken belief that the bank was liable for the forgery of endorsements on these documents, admitted that they took no trouble, by requiring an acknowledgment or otherwise, of ascertaining that their remittances had reached the persons for whom they were intended; a draft was lost, and on calling at the bank to stop the payment of it, they were incidentally informed that the bank was not liable on the payment of a draft to order,' purporting to be endorsed by the payee, should such endorsement prove to be forged, upon which, in alarm, they immediately stopped the payment of several drafts they had issued payable to order,' but of which they had received no acknowledg ment. "4. The examination of the crossing on cheques at the Clearinghouse will be very difficult, and frequently quite impracticable. The greatest delivery of cheques for payment through the Clearing-house takes place between half-past three and four o'clock, and after the latter hour no more are received; three-quarters of an hour on ordinary days, and one hour on stock settling days, are allowed for the banker to examine signatures and accounts, and make his entries before payment or return of such cheques as are unpaid; and it is not an unfrequent occurrence for one banker to have to pay from 2,000 to 3,000 cheques on a settling day, and a proportionate number on ordinary occasions-an examination of the crossings, which must be made within the Clearinghouse, and before any entry or other examination is made, becomes impossible within the allotted term. "We do not complain of those risks incident to a business in which large sums of money are constantly entrusted to the control of numerous clerks, in whose integrity and carefulness great confidence must necessarily be reposed, but we do complain that an attempt should be made to relieve merchants and traders from the necessity of exer cising even ordinary vigilance in guarding their cheques, and to throw upon the bankers any loss that may result from frauds against which they cannot protect themselves, and which may in many cases be prevented by the holder of a draft using that care which on every ground of equity and fairness he is bound to do. "On these grounds I venture to express the hope that this bill will not be allowed to pass into law, and respectfully submit that the law as it at present stands affords every legitimate protection to the holders of drafts. "WM. McKEWAN, General Manager. "London and County Bank, 21, Lombard-street, "June 18, 1858." BANKERS' SATURDAY HALF-HOLIDAY. THE Governor of the Bank of England has addressed the following communication to Mr. Lilwall on the subject of the memorial lately presented to the corporation : : "SIR-I beg to acknowledge the receipt of your letter of the 15th June, containing a memorial addressed to the governor and directors, suggesting the closing of the doors of the Bank of England at two o'clock on Satur days, accompanied by a list of persons in trade favourable to the practice of early closing, and I have, in compliance with your request, laid the same before the Court. I have, in reply, to inform you that the Bank of England, though at all times disposed to assist in promoting the wishes of the public where they are generally and decidedly expressed, is not in the habit of itself taking the initiative in such movements. The Court, there fore, do not deem it advisable, under the present circumstances, to adopt the suggestion proposed. 66 'I remain, Sir, your obedient servant, "John Lilwall, Esq., Hon. Sec., "Early Closing Association." THE BANK OF FRANCE. THE Moniteur publishes the following monthly debtor and creditor account of the Bank of France, made up to Thursday, June 10 : - 229,057,915 12 Cash in the branch banks 281,330.239 0 Commercial bills overdue 203,407 22 Do. discounted, but not due 161,763,628 21 Ditto in the branch banks 187,704,055 Advanced on deposit of bullion Do. by the branch banks Do. by the branch banks ment of June 30, 1848... 0 1,387,100 0 1,754,100 0 24,480,000 0 9,016,700 0 49,746,342 06 17,055,350 271,500 116,300 0 50,000,000 0 12,980,750 14 52,188,103 58 8,253,575 0 4,000,000 0 6,027,364 0 1,733,849 86 7,029,764 80 F. 1,106,100,043 99 Certified by the Governor of the Bank of France, DE GERMINY. The above return shows another extraordinary augmentation of the stock of bullion. The increase in the previous month was £2,400,000, and it is now £2,710,000, bringing the total up to £20,400,000, or more than double the amouut held at the beginning of the year. The French 3 per cents., however, are nearly a half per cent. below the point at which they stood on the 1st of January. The present return indicates a continuance of distrust, which causes all business operations to be restricted as much as possible since the discounts have experienced a further falling off of £1,210,000, making a total reduction of £3,400,000 in the past quarter. The notes in circulation have decreased £280,000, the deposits of the public have increased £492.000, and those of the Treasury £655,000. Under the head of advances on stocks there is a diminution of £96,000, and in those on railways £468,000. TRADE OF THE UNITED KINGDOM. THE Board of Trade returns for the month of April were issued on the 26th May. They showed still a considerable falling off in the declared value of our exportations, but of much less extent than was presented during each of the three preceding months of the present year, the average on those occasions having been £1,772,401, while the reduction now is only £534,411. As compared with the same month of 40 VOL. XVIII. 1856 there is an increase of £26,507. Owing to the Eastern demand, the shipments of cotton goods show an augmentation of £327,067. The chief items on the unfavourable side are iron and steel, the orders for America and the colonies being still small. Silk and woollen goods likewise continue to show a decrease. On the whole, however, the return must be considered to furnish some signs of a tendency to revival in most departments of trade. The annexed table exhibits the exact increase or decrease under the several heads : DECLARED VALUE OF EXPORTATIONS. With regard to imported commodities, the arrivals of wheat and flour have again been large, but those of other kinds of grain again show & great reduction. In all other articles of food and luxury, except tobacco and fruits, the quantities taken into use at length exhibit a falling off, but not more than proportionate with the decline in our exports. Subjoined are the quantities of provisions, &c., imported and taken for home consumption : The following are the comparative imports and exports of raw material, showing a decline in each case, except in hemp and cotton : |