Star. — London, England, 1819-05-22 00:00:00

The ESA zi t ial Rondabay tha .✓1 t the 11311 C 4011unr. 181.1, .lintriletsbabl Clerk. Whim 'hest , had I E O 7 "Ipr he - oc er eeded in addressing . cheow n eed mach of these . midi. titshe must enter Into the questinit on the Noble Earl who spOilt.' tlat,l and on 3points w hich it was more difficult toverniditiiicatattloii Aar as sembly.. At the samotirneheauituteditheie s c dohips that if be failed or Twos egoositat on . t6it o bj e ct, these defects must be imputed merely to ' o n infirmity; for • there *at no labour nor pains v hi c h he had spared—nothing, in Short, within his which he had sot :lone to gain information, sit to enable himself to - cone to a right conclusion al the subject. He could not but differ from the Noble Lord on many points. When the Noble Lord „tA i t was necessary to have a fixed standard of curacy , it was what every man must admit. and it as s only what he (Lord Lauderdale) and _several Soble Lords near him, had been constantly saying { O O last twelve years. But on former occasions lo on ewould be allowed to say that Bank paper had ,Kr decreased in value. Now, however, things were happily changed, and he must congratulate him "land their Lordships and the Public, on his hay * such a convert as the Noble Lord;-1 Hee? ' hear.) Janice all immediate converts, the Noble Lo rd was 0 zealous thst he wished to have an immediate re cognition of the' depreciation by Parliament. This el , in fact what the Noble Lord wished for, because ling the Bank-notes payable at £4ls. was acknow. isiging the depreciation. The rate of exchange and 'rice of gold would always be found to keep and he maintained, that the high price of sold o be entirely attributed to the Mint reg damns. e wa, positive proof that the deprecia 'on of • r arose from the regulations which had been ,:ed with respect to the silver coinage. It was f,,r any man to doubt that, font for the respecting the gold coin, the exchanges ld has ' been favourable. If a hundred of our I .oreteigns were taken to Paris, they would sell r2 l.) ti lUS. Taking then the exchange at the very ,z state in which it had been since the month of :h, 16:7, which was SS-80, then those hundred reigns would produce £lOB 10s. so that in silver uoulslfetch much more than their value as gold This, however, proved the favourable rate of exchange. He contended, that the only criterion hich the depreciation of paper had in general estimated never existed ; and on this ground it that he moved these Resolutions, in which he ced that he thought the Bank Would have very difficulty in resuming Cash Payments if the plan Jibe proposed was adopted. The principal nu why be p.oposed these Resolutions, was to point the present state of the currency of the Country, the effect of the Mint regulations. In his opi i, if the regulations whida he proposed were opted, there would not be a all upon the Bank a single Guinea in Gold. No one with. whom he conversed on the subject, and to wham be bad amunicated his Resolutions, had differed from him ith respect to them ; but he had found a vat dif ference of opinion as to the plan of the Ne Lard. certainly appeared to him that the :.• ince now threatening the country was the plan of Noble Lord, and the Mint regulations. He had udeed heard this plan commended as providing a :heap circulating medium. Instead of that, it would 'doing a most unfair thing to the Traders and Ma. iufacturers of this country. It proceeded on the idea that a great part of the capital of the country would carried into France in exchange forgold. This notion arose from a mistake as to what was said by Dr. Adam Smith, on the subject of productive and nmoductive capital. In that part of his work, Jr. Adam Smith delivered many absurd opinions. But he said, among other things, that if we sent gold abroad to purchase the produce of foreign countries, it would be an advantage to us.-- But there were only two ways In which it appeared that the Ci 5,000,000 of gold which Mr. Ricardo said was necessary, could be procured, and these-were, other in exchange for s, for by purchasing bul- Lon at a high price. arc ' ttg on Mr. Ricardo's plan, of providing £1.5,000,000 of gold, that amount of the capital of the country would be abstracted, in stead of being beneficially employed in thet-ornmerce and manufactures of the country. It was impossible to get gold advantageously from foreign countries, *ere it was procured by labour, withdut sending out in exchange some part of the produce of the la bour of this country. But his chief objections to the plan of the Noble Lord are from his not wishing to deprive the manufacturing interest of the benefit of I.:4100,0001. of capital. On the Noble Lord's prin ciple he might just as well propose a sumptuary law to prohibit the use of plate. With respect to the prac ticability of the Noble Lord's plan, he entertained very considerable doubts. It was novel in itself, and would produce many new effects. It would be found, that as soon as the Bank Price of gold would rise u. Noble Lord concluded with merit, the Resolutions which Lord RlNG,Though the Noble Lord opposite, \ some hardship and inconvenience, cadet all the circumstances expedient to accede to seeded to examine the n. fore the House, and said, issue of Bank paper miy' engaged in mercantile o ?erate injuriously with lair. defined incomes. NI e7el to the mercantile them to injudicious •!(ied in their ruin. .-. ,e Bank could pay in b fold• f:ice of go ld to the to mid not sanction he felt disposed to approve tat might be less objectionable. !:ernelv that the new issue(: long before, as ing down the eschani portin,l the Resolution: Earl of LAUD A. Persons whose petitions 'Here as is stile as any set of moo i:•tteln of exterdgl A rper currency. Lcrd REDZS E was sure *et it would be a about twenty e variety of eirctssi,..—.. WaPPialad'eut• ftwns sterling bad ' ried out of &smeary durin g actuasilY bean ggir2 language had bee n h e ld oua Utah:l:lnc jeans A? At ton which they did not deserve , gai becaitse — he n w ic a p s i sre He e ted el highly Public..they d mt ap h° roved rah ol lY the trustee sproject ioforrhathve. ing a Mint R egu la t i on , because he thought it neces sary to have a fi xe d stan d ar d o f co i n i n the c ountry. Lord GRENVLLLE mat urgently called upon the House to attend t o the pressure of the times. In proportion to the danger, we oug ht to prep are ourselves to resist that ruin which threatened all our social institutions. We ought most seriously to con sider,taessmtrator prtoelleotnagtiteheehemea sure;l- worhethsvheerthwere, shou l di mfnylowed, the Bank would be enabled y ever to fix a po sitive period for the Resumption of Cash Payments? By the most intelligent evidence, we find that the fa cilities which have been so much praised have led to the embarrassments which have menaced the best in terests of this country. All those facilities have been I ultimately highly disadvantageous to the Public, and (have operated the calamities which have been wit =med. An excess of the issue of Paper has been calamitous and destructive to our Trade and Com merce. At first, there were pleasant and prosperous gales; but storms soon succeeded, and the devasta tion which followed had been anticipated by many meet of political penetration. But such had been the uniform depreciation of Paper, that it soon found its level, and the delusion of the system became evident. His Lordship admitted, that for a certain time the liberal issues of Paper produced the flattering gales which served to recover the country for a time fro& its difficulties ; but, like all paper credit, its instability became obvious, by the midden coavuldon which it gave to society. In proof of this, we have only to look to the lamentable list of Bankruptcies from the year 1790. It produced such an effect, that it shook all public and private credit, and rendered all contracts suspicious and unstable. This operation involved the country in a ten-fold excess. Another serious conse quence arose from an excessive issue of Country Pa per ; and as that was not authorised by Parliament, the effects were in tinny instances fatal and most la entable. It did not regard Trade or Commerce tioli, but pervaded the very foundation of society, by Waiving in ruin whole families, reducing them to beggary and prison ; this was the effect of excess of Country Pam the projectors of which thought themselves warranted by their superiors of the Bank of England. The delusive system in both cases, arising from similar causes, produced similar effects. But the whole depended upon a proper standard of 'value ; for nothing that is not of value can be a standard in any country, no more than weight Inn be of value without a proper standard. In ilie present state of affairs, a proper standard would bs desirable ; and in every well regulated country heels an • 61....4 rnaviza _to 61 tht Man- 1 " which would protect property twos e ca depreciation of innovators—(+lzer, hear).— g i g first settled the fineness of the metal, you 'have only to fix the standa rd wei g ht, by which the value is to be regulated. His Lordship then entered into a detailed account of the ancient weights and measures, particularizing the various denominations, and distinguishing the standard value between gold and silver at the periods mentioned. He would not, hi said, go beyond the time of Edward the Sixth, when he entered into an analysis of the current coin, and their values, then in use. But when Govern ment at that time found that they had encroached upon the valuation of property as far as to reduce its circulating worth, they thought they had a rigit to make a further depreciation, according to their exi gencies. If you look back to the time of Edward the Sixth, you will find that the pound sterling at one time was not worth more than six shillings. This arose from the doubts which people entertained of the stability of Government, all expecting an imme diate Revolution. From all those deductions we ought to ascertain, whether or not, from the enor mity and seriousness of the change, we are not ra pidly approaching to the most calamitous period, when no man can reckon up on his property with any degree of certainty. He did not wish public or pri vate property to be left at the caprice of any set of men, however respectable their characters might be. Any depreciation of property by the means now al luded to must be considered as the grossest violation of law. To ado,pt some regulation by which a proper standard might be fixed, would be very desirable. It must'also be very desirable to their Lordships, who by their individual property were also deeply inte vested. That, he conceived, to be the real question of to-night. No man could have heard that Paper read which had been produced to their Lordships this 1 -.. without expressing his utmost astonishment. was now imperatively called upon to own rights. The Noble Lord knew no . them (the Bank Directors) as individuals, . public body—the Bank Directors—and • such he had no hesitation in saying, that it incumbent upon their Lordships to maintain their tity, and their proper authority in the State. the The k Directors by their conduct had pr odaced fatal coneequences to commerce, sada general d e preciation of property. The Noble Lord saw the - - of bringing the currency of the country proper standard. The Bank . Directors have pleased to point out by what means they endeavour to produce this event. Therefore inent, if driven to the alternative, must provide consequences ; and as thew property of has been depreciate d, there can be no upon their their professions. Their . • . to recollect, that they have no similar misconduct, consequently si . rro g should the . many years . that Parliament unity without have arisen k no intention but in a co atinsinal buil iiit imam which reposed in them, We may ae CORduct., are was ght have resat Cash ason he knew trot, they means by which that event was pre. rho, year 1817, they commenced partially Cask Payments, but took that opportunity of Pour illtiotth at once an injudicious excess of both paper and gold. He did not think it would require a re dection of the circulation below 25 millions to bring the pound note at par with gold. But of this he was convinced, that whatever reduction might be neces sary it must be made, and the Bank-note must be brought to par. Neither did he think it could pro duce any inconverient pressure on the country, be cause it would occasion a change rather than a d;mi notion of the currency. The alteration, he believed, would not amount to more than three per cent. and that was the extent to which the pressure on the public could by possibility be carried—(Hear, hear.) He would even have no objection to fix the end of the present year, as the utmost length of time which the Restriction should be allowed to last. Ana what could be thought of those who, being bound to re sume Cash Payments at a particular time, had in creased their issues in such a manner, that they must go through a new process of reduction before a re turn to Metallic Payments could take place? But the time was come when the connexion between the Government and the Bank should be dissolved— (Meer, hear, hear.) That connexion stood in the way of the public good. If the Bank were asked why they did not obey the directions of Parliament? their answer was,, that the measures of Government pre vented them. If, on the other hand, Government were desired to enforce the execution of the engage ments of the Bank, the reply was, that before any step of that kind could be taken, the advances which they had made to the Public must be repaid: hence Parliament and the Country were placed entirely under the contropl of the Bank. Such a system must cease, if Ministers wished to restore order to the Pub lic Finances, and security to the Government. It Was incompatible, and contrary to the principle on which all Banks were instituted, that they should be wholly independent of the Government—(Hear.) — All 'Banks that had fallen, had fallen in consequence of their connexions with Government—(Hear, hear.) It was on these grounds that be thought the re-pay ment of the balances due to the, Bank necessary as a preparation for the Resumption of Cash-payments.-- He also urged it, as a first step towards dissolving the confederacy between Government and the Bank. He was aware that some difficulties might exist in making provision for the repayment of those balances, and for that reason gave his consent. to the prolonga tion of the time at which Cash-payments should be resumed, on receiving a pledge to insure the adop tion of measures tending to effect their return. He contended that paying in bullion was no new experi ment. The principle b y which the Hamburgh Bank was governed was that of making all its payments in silver bullion. He concluded by giving his total and unqualified approbation to the present plan. The Marquis of LANSDOWNE wished the pre sent plan to go forth to the public with every kind of support and authority, as he was convinced that onlz.statatiet.by cr.Notrir wouja, = l r a te able to return to Cash Permian He dos bated the idea of making Silver the standard of value. There were two kinds of Paper Currency. The one convertible it will into gold, assisted enterprise, and diffused capital to quarters where it would not other wise have extended. The other, resting on no me tallic basis, only served to encourage imprudent spe culations and commercial operations, supported by a fictitious capital. It was therefore always full of peril, and frequently terminating in ruin. He then supported the prolongation of the Restrictions on Cash Payments, lest the sudden contraction of the issues of the Bank should be productive of inconve nience and distress to the country. In voting for the Resolutions of the Noble Earl, he hoped he should not be understood to pledge himself to approve of the present plan as a permanent system. As a safe mode to lead to Cash Payments, however, a mode which would remain under the eye and within the controul of the public, he gave it his cordial support. The Earl of LAUDERDALE having replied, the Amendment was put and negatived without a divi sion. The original Resolutions were then put and agreed to.--Adjourned at Half-past Two o'Clock. HOUSE OF COMMONS. Mr. Jamison, from the Office of the Chief Secretary of Ire- , land, presented a Paper containing a List of the Prosecutions for Excise Duties.—Ordered to lie on the table. Mr. SHAW presented a Petition from the Merchants Tra des% end Bankers of the City of Dublin. praying that a ilridge may be built over the Menai Straits.—Read, and ordered to lie on the table. The Bill for appointing Trustees for the Royal Exchange of Dublin was read a third time and passed. Lord WM. BENTINCK brought in a Bill for Amending the Navigation of the River Ouse, near Penman, ilcc.—Read a first time, and ordered for a second reading. A Bill was introduced for bettelLighting and Paving certain %m arts, Streets, &c. in Westminster.—Read a first ti me, and for a second reading. Mr. LUSHINGTON moved, that the House, at its rising, should adjourn till Monday next.—Ordered. Mr. JOSEPH WALKER presented a Petition from Cog- Vika , Era; Praying that there may be no Alteration in the nuodiit Conveyancing.—Read, and ordered to Ile on the table. GASOOYNE presented a Petition from certain In of against the Bill for Licensing .Mabouses. I =rastd o to lie on the table. Wle. M. A. TAYLOR moved that the consideration of the •filiisselised Itteetton be postponed from Tuesday next till Thurs .* eennight, oa the ground that the Solicitor rime of the par ansesuld not find one of the witnesses, to serve the Speaker', order upon him to attend that House. He offered to verify Mit by examining the Solicitor for the Petitioners; but after some convtrution, the Ballot on the Cameltbrd Elections 'Wm Axed for Thorwity week. The Marriage Mt Amendment Bill was read a dinlaine and passed. Sir JOHN NEWPORT postponed the consideratimi'd the Irish Clerks of the Peace 13111 till Monday. Lord RISRINGTON postponed the Committee on the Sea mast Wears Recovery Bill till Tuesday mit. • GKARITABIA IbiSTITUTIONS. Lord CASTLEREAGH rose to move for leave to bring in a Bill to regulate the Charitable Instituti ons is Eaglaod for the Education of the Poor. This Bill _ . delayed partly on account of his wish t o information on the subject before the account of the Hon. Members • a part ia this measure , intention to have discussed the motion for bringing Honourable Members therefore he propoood to reading. :rl. • Mr. BROUGHAM thanked the Noble lA, . 11 for his courtesy to him on account of his ill-health. 1 /e therefore seconded the motion, as it was intended extend the power of the Commissioners; but he was afraid it was not meant to i go far enough. Mr. M. A. TAYLOR wished to know Aether it was intended to extend the powers of the Commis sioners to Charities where there were Visitors? Lord CASTLEREAGH said,.he could not answer that without going into a debate op she whole question. Mr. M. A. TAYLOR had onifitsked a plain ques tion, and he hoped the Noble Lord would not refuse co answer it. Mr. BROUGHAM hoped his Honourable Friend Would not press his question. - Leave was then given to bring ih the Bill. rUELICANS' LICENCE BILL. Mr. SEI4:NETT moved the second reading of the Publicans' Licensing Bill. Mr. CARTER opposed it, because it contained a clause obliging the Magistrates to give their reasons for the ref - Lisa' of Licences in writing, which would subject them to prosecutions. Unless, therefore, this clause was withdrawn, he should move that the Bill be read a second time that day six months. Mr. CUR WEN hoped his Honourable f r iend would withdraw this clause rather than endanger the loss of the whole Bill. Mr. DAVENPORT thought that the Bill cast a slur on the conduct of the Magistrates. Mr. G. LAMB could not agree in that opinion; but he thought it would be casting a slur on them to suppose that they did any thing for which they could be unwilling to assign a reason. The only objection they could have to give reasons must be, that of Sir John Falstaff, namely, that they did not like to give 'seasons «on compulsion " He implored the Magis trates not to refuse inquiry into their conduct, which, he would take upon himself to say, would incur upon them neither disgrace nor expense , but would re dound to their own honour. ___Mr. S. WORTLEY said, this Bill would produce great difficulty, and very heavy expenses on the coen nes, for the third penalty was to be enforced by a Jury, and who was to pay the expenses of the suit ? The illacing the public-house licences under the power of the County Magistrates, had produced much good ; and .there was no necessity for taking this power from the Magistrates. Mr. H. SUMNER agreed with the Hon. Gentle man who spoke last. Many reasons occurred to him to justify his refusal of licences, which, he declared, he could not put upon paper. General GASCOYNE thought the Hon. Member might except all Chartered Rights, and only include the Cities of London, Westminster, and Carlisle, Mr. D. GILBERT thOught this would be a. very destructive measure, because it would then be impos sible to refuse a Licence to a house.where disorderly persons were suffered to meet. He hoped no Magis trate would take away a Licence without a reason; but it might be impossible for him to assign a reason. Sir R. - WILSON could not conceive how any one who bad a public duty to perform, could be ashamed• to assign a reason for it. But as this clause seemed so o bjectsonable, he hoped his Honourable rind would withdraw it.; and, by-and-bye, the Magistrates 7 ......,....a.4 ro it. • r Mr,. BATiltMBY.fiet .. r . tl 4l‘agistrales might -harts ' very good reasons for using a Liceace, but -ass. such as would be su ffi cient in a Court:if Law, • Mr. Alderman WOOD would be gamy to have this Bill lost : for in the City they had adopted a measure very like the principle of the Bill, by hearing the de , .flmce of the parties, and telling the reason Ter:s;ops ping their Licences. He was sure, therefore, that this Bill would be acceded to by the City of London. Mr. BENNETT denied that there was any impted Union or degradation to be cast:on the Country Mee &orates, by subjecting them te: s usitti resistrds ) - Or • 1 57 giving an appeal from theirdecittems to the fitters' ter • Sessions. It was the first tittle he had ever heard' that it was a degradation to have an appeal fronton Court of Law to another. Many arbitrary acts were done by the Magistrates, beckse they could net , be. called on for a reason in denying the eontitsuanee lof Licenses. When men can he deprived• of. their property at the will of Magistrates, it was. high time to know why they did so—Viesr, hear.) There was, besides, no law to warrant such proceidinget it was entirely an arbitrary and illegal assumptlon of power. Lord Mansfield had said, that if thezMagis.r. traces had any objection to a Publican they ought to give it ; for though they had a discretionary power, yet they must not be permitted to exercise it to this . destruction of the property of others. His Bill was intended to check the practice of Publicans of.o tanning false charactees from paupers and others, in order to obtain Licenses l• and to check various other abuses.' He was, however,.•verf willing to give up the clause requiring reasons from the Magistrates, rather than lose the Bill altogether; but this would only extend to Country Magistrates, end not to those of Cities and Boroogh Towns. He therefore hoped 'the House would suffer she Bill to go to a Commit , tee, that it might be seen of what nature the Bill was. General GASCOYNE repeated, that the clause I should be confined to the Cities of London and 'Westrninsters,:...—The Bill was then read a second dos, and ordered to be contained on Friday next. POOR RATIOS. The Report of the Poor Rates. Misapplication Bill I was bought up, the Amendments agreed to, and the I Bill ordered to be read a third time on Tuesday next. • • BANKRUPT ACT AMENDMENT BILL. 1 The House then went into a Committee on this Bill. Mi.J.smrrH, on the clause abolishing the punish. c th o at nce e a v l ery ing t ot h , er e r k p ne m w pe t r h ty at ) or i s n a g enhot w s i e th ourrenve d re m p th duenri ß isn a h n gm k , e n:a nt pi s dt: had been of no effect. After some observations from the ATTORNIY-GE• MEAL, Mr. Serjeallt COPLEY, Mr. COURTENAY, Mr. OssIANEY, Alderman WOOD, Mr. D. Go Legal', Al derman WAITHMAN, Mr. GRANT, and Mr. R. MAP. 'To, the Bill went through the Committee, and was re p or ted. 'The Report was ordered to be taken into further consideration on Wednesday next ; as was the Repcir of the Bankrupt Regulation Bill. LORD JUSTICE GENERAL OP SCOTLAND. M. D. GILBERT, in moving that the House iit ould go into a Committee on the Lord Justicetie. fl oral of Scotland's Bill, said, that this was one of she offices recommended to be abolished by the irts pence Committee of last year. Last year a Bill was to be brought iu to continue the emoluments of the . . . i anAtaiberssivikabe moviaqiiii.s.wmaktthitaNimemoir•l „mod 0 14 .40 7 = relgeoll moue, ussencl•kirkittnn ibe soak • slaiierAiitter **ACM:SWANN'', illnilliiktipmg . : c c !cted , by' tite: lime, be greed eoisi girl usimik A tiiei l jot. At t ./pill* jag kg/104, 1 14ra :t,heßauk , weight h !st, had Wirt reek t , beg oenebbeett • aviseaseCeebeettheS i!101 1 1110 OM& gelheentllt •Ihit, foe what reason essjhg their lensiehissil give recur: nasyniebts samosa fttOkifte44ll43ll *fleeted the very means by which sir •indatten . ot; toniidering introelnie. cella into the %iodation oirtheAomOnit looted. In the, year 1817, they cc he questio4 Witlrealtettsisoir atid . Withouf it - there could 'be no Tetwn to PilyiPenkei Co* Payments, but took that 0 1 1 ... cniiikw iiiit_ 1 inrai itast irdh:rat. T•t.--- —a -i___ _e - - . ik began to purchase gold, the to-night. tic 4 in exact proportion. The which had I s i ll with moving, as an end- night, withot which he had before r d. Parliament 1 igh the measure pro 'd ty maintain its • site, would be atten with thing about t tconvenience, still he u ht, but as api .ances of the ease, it w_ be against such it. The Noble Lord th pro- was incumbe merits of the proposi ' be- dignity, and iaid, that though an enlarged Bank Direct night be convenient to Firms most fatal ci transactions, still that it would depreciation th regard to these who had ter- necessity of Nor was it alwaysadvan s back to a pr e classes, for it frog in. not been plc :ious speculations, which will endeav ru ral It was absurd to sup that •P•arliament, 1 gold, till the" , bad u the for the cons Mint,. regulations ; and , gh the country plas i i this as. a permanent yet pendence II prove of it as preparatory ape oug ht also bjectionable. He regrett air g.:;anst sine w silver coinage had not been fortunes, sit it would have operated in beep which for r iges. He concluded with is p• man thiak ,ns of Lord Harrowby. the county DERDALB contended thas the w hich hays ions he presentea that meting/ He had nc y sec of men could be, so Abe Bank ; bn would be or conduct, consequenuy warn.... _ e Bank experience th at iedalyease had ;hien delayed partly on a :ars has been manifested. Does any have every information 041 1 lrlia meat will ditcher its duty :How" al* ,Partly on • account aut contains the osaatfaid evi i1141 41 4th , who tozok so active from the excel:o4f paperivanialo4 ;lost yaw. k was also his irate ion of casting refiectileos ape* Ithe.psimiple of the Dill on case of such -vast iipponswaki lttea, Si* lOW of the el to avoid the osseoliaos of boat./fros.**Weatosavand t r which tie Sete Eirames. *mad it-cat the woad readll va la mini din t he pr pee: as to Thre raper iJaF'e circa ill: 42 !" , Z Na:tt mere they %, coin. tie ex wh beta was tl wed Lie c which sau N. out th ad d ion, adopt I.;:sr a Dail c tolnn with feren! It co Ince he ndee :heal 5e d nufa that bee aotit Dr. imp Dr. But got eon ilea eltl La of the ste an to a 1, ei ti tt 1 or b • • ;1' 1 , \ I I; tit • i I i l . • r ) • i 0 . r I. I i 1: ! i I i '? 1 i I I I lt i 1 „ • i i il • I ' I $3 $ , 0 . , • .ft . , . . . i .. 1 1 1 - • If ' 1 .• :1 L 0 1 • • I 1 .• I I 111 , 1 1 i f % $ i l i • • • 4 $ "4 ' 1 •• 0 1 , ill. r . i.... • :01 -