Star. — London, England, 1811-07-09 00:00:00

1 perfectly wild, that prohibited the enactment of ex e s t facto lAws, a principle he had often heard avowed m that House, but from which an assent to the law now pr.posed would molt undoubtedly constitute an aberation The Noble Lords would come at once and take out ,if the pocket of his Noble Friend, and from his children yet unborn, full 17 per cent. on their entire income ; he wished particularly to advert to a statement which had been made with respect to Ireland. namely, that there had been from time intl. memorial a money price and a paper price established in that country. This w.ts altogether untrue. In the year 1797, the Bank of Ireland paid in gold, and he would ask how it was possible that two prices could exist when every applicant could immediately convert his paper into gold If the circumstances 'in which Ireland was placed were clnly considered, the pro posed law was titter for that part of the United King. dom to which it was not designed to extend it, than for England and Scotland, where it was to be en forced. He considered it highly improper in the Mi. nisters of the Crown and their adherents, who had paid: little attention to this momentous subject, to endeavour to run down and injure, in the public opinion, those who had made it the study of a great part of th,fir liv4s. He himself had devoted to it the most se. rious attention, and, as coming within the range of the animadversions he bad alluded to, felt himself much aggrieved. He did not c , insider himself as ' using too strong language. when he affirmed that the depreciated paper which their assertions were em ployed to uphold, was in all respects analogous to Lase coin, and the fact was, that the Bank now act's ally employed a coin of reduced value in paying their fractions. He was, moreover, supported in this opi. nien by several very able w r iters, from one of the oldest of which he should quote an apposite passage. The Noble Lord then read a passage to the follow. in Am, from a work published in the year 1629, en titled Lsse Mercatoria.—" Base money maketh every thing dear. Those who issue it may by degrees be come Masters of all the commodities of the realm, and it swalloweth the good coin with a voracity simi lar to that of Pharaoh's lean kine, recorded in the itcriptures." Formerly. continued the Noble Lord, it was the gold of England by which the Continent was to be rescued from the grasp of our enemy ; but now it seems the paper of England is the potent engine by which Bonaparte is to be made to descend from his usurped elevation. From these dreams the country must at length awaken; and the time was not very f Ir distant when, if the Bank did not confine their is sues within more narrow limits than they now seemed disposed to do, Parliameat must of necessity interfere ' *to compel them. It was wonderful t hear the Noble Lords contending that there were not two prices in the count-y—they had been gradually introducing ever since the Bank restriction ; and he would men tion one instance in which the Noble Lords, though they were not aware of it, yet suffered by it in an article of daily consumption—that article was fish, Which, before it was brought to their tables, had been paid for in gt.l4. The fishmonger, who would cer tainly throw the expense of the transaction on the consumer, was forced to purchase it with that metal from the Dutch boats which came into the Thames, and to whose owners English Bank notes would be of very small value. He was ashamed to be reduced to the necessity of this mode of illustration; hot if the persons entrusted with the Governmznt of the Consitry could have it knocked into their beads in no other way, they must, if possible, be practically convinced of the vast mischief they were doing to the country. Lord MORTON contended that there was no depreciation of English Bank pa per with respectto Scot land, for he was acquainted with a line of road to the latter country, on which English and Scotch notes were received constantly at the same value, which Could not be, if such a depreciation existed. Lold LAUDERDALE .contended that the cause of this partial. appearance of parity between the two currencies, was the competition between the publi cans on the road in question ; for it was not rea sonable to suppose, that person's who endeavoured constantly to attract customers by every possible Assi duity, and even by heavy pecuniary losses, would think of calling in question the value of the currency in which they were paid. Scotch Bank notes had a • quality superior even to gold itself. The Earl of LIVERPOOL was certain his Noble Friend would be thought by every unprejudiced per son eminently qualified to judge of the subject. He would not tax the Noble Lord with ignorance, but on the contrary, would willingly allow him all the know ledge and research he claimed, but whatever might be their extent he would nevertheless contend that they did not surpass those of his Noble Friend. As to the Bill now under the consideration of the House, he conceived that it was no more than a measure ! of justice towards a great proportion of the people of the country. The national creditor was obliged to receive his notes at par, there was certainly no ; reason why he should have more favour than an other, but neither was there any why he should not be placed on an equal footing with proprietors of every other denomination. He should not be obliged to take notes at par and pay them with a loss. With respect to the supposed depreciation of our currency, he thought it must be quite evident to every person who duly considered the subject, that it did not exist as relevant to the articles of life, the rise on ! which, in all those instances where there was a rise, i was fairly assignable to other causes which were suf. eiently obvious; but the fact was, that on the greatest number, and the most essential articles of home con ',umption, there had been no rise, and on many of . them there had been a reduction. The ruin of no country could be traced to a paper circulation fairly managed ; it was the abuse of such a currency that rroduced the evil, when its tendency to excess was not duly restrained ; but in England paper was by no i means excessive. His Lordship then observed, that in 1797, the Bank said that they were ready to pay in cash, provided it was the opinion of Parliament that they should do so. At that time all the ex changes were in our favour—we had no subsidies to provide—there were no Continental alliances—the Bank were then ready to make cash payments, but Parliament did not think that such a measure was expedient. If they were to retrace their steps, as had been urged, he would inquire, where was the profu sion ? If there were any expenditure that might be saved without endangering the safety of the country, let them knave what it was ; if there were any ex pence for which the country had not its price, let it be particularized and curtailed in future ; but be Would not lutist these giddy hits made at ttte expendil ture,and that circumstance conf oun d e d wi t h th e causel which imperldusly called for a bill similar to the one before the House. The eapences of the war were great he admitted, but they were not greater than the line of policy adopted by his Majesty's Govern ment required. That policy might be wrong, and the expences unnecessary and wanton, but he wished that those things should not be confounded with the points on which the present discussion turned. Ad mitting that the present war could be made purely a defensive one on our part, still it would be a question with him, in the present state of the world, whether even then it would be politic to remove the Bank Re strictions? This he would maintain, that so long as they thought proper to continue their present foreign relations, so long would it be impossible to compel the Bank to resume cash payments. If they were re solved on bringing about the latter object, they must begin by reducing their expenditure, and by, in fact, altering all the features of their foreign relations ; by 1 5 curtailin their operations in every part of Europe. To cu the immense expenditure or 4 , profusion" would' to alter all the features of the war. In 1797 the Government had had to choose between evils ; in fact, the times in which they live had been of so eventful and of so extraordinary a nature, that the Government for the time being, had rarely had any other alternative than to nuke a choice of evils. It was his firm opinion that it would be unwise and im politic in the extreme to adopt a different policy of -carrying on the war than was at present acted on ; and it was equally as unwise and impolitic to substi tute new dangers for those which they knew how to bear. They had to apply a practical remedy to an existing evil ; they were not called upon to prepare a remedy for an evil which they knew not how to calculate. Earl G REV protested against the proposed mea sure, as fraught with general calamity. The Noble Lord who had just spoken talked of the faith due to the national creditor. That faith no one would wish more strictly to observe than himself : but what would the national creditor gain by the present Bill ? Would it give to Bank notes an increased value ? Would nut its only effect be to place landholders in the same distressing situation ? For his part (notwithstanding what had fallen from the Noble and Learned Lord cri the Woolsack) he never would believe, until it should be declared by the Twelve Judges, that the payment by a tenant into a Court, of Bank notes, would shelter him from a distress, when the law dis . tinctly declared that it should be paid in good and lawful money of the realm." Satisfied as he was, that the reverse was the case, he put it to the House to consider what would be the situation of the unfor. tuna:e tenant, after the passing of the Bill. From that period it would be illegal and impracticable for him to purchase guineas, and yet with guineas alone would his landlord be paid. Could any thing be conceived more likely to create the greatest calami ties ? It was to incur all the evils of making Bank notes a legal tender, without securing any of the advantages which might result from such a step. The present measure would have the effect, not of stopping, but of aggravating and increasing the evil. The law was to be limited in its operation to Great Britain; and was not to extend to Ireland. Why was this" Had it never been heard that the rent of lands in that part of the kingdom had been de manded in gold? Was it not known that this was common in the North of Ireland ? If this was an evil, how came it that a remedy was mare neces sary here than there ? Why were the people in Ire land to be more exposed to such demands than the landlords in England ? To this he believed no bet ter answer could be gives than that furnished by the old story of a person who was accused of cm elty in putting lobsters into cold water, and then boiling them to death. The reason given to justify this practice was, to they are used to it ;" and this he conceived, was all that could be said for thus neglecting the people of Ireland. He was astonished to hear the Noble Lord opposite contend that Bank paper was not depreciated, and thought the arguments he had urged were far from proving what they were intended to prove; and the arguments he had made use of to shew that the Orders in Council had done good, were only to be derived from the present distress of the country. The only remedy which could be supplied to the evils complained of, and those which would follow the adoption of the measure proposed, and those mea sures to which it must lead, was a returnto payment, in specie. He reminded their Lordships of the as signats of France ; and then adverting to the affairs of the Peninsula, declared that though he had con curred in the Vote of Thanks to Lord Wellington, as he had really done more than he (Lord Grey) ex• petted he would be able to do, yet still it was his firm opinion if we made ourselves principals in the war, and attempted to contend with the whole military power of France on the continent, the consequences would be most ruinous to this country. He was surprised at the statement which had been made of the prosperous-state of our affairs, and regarded it as a delusion, which, . if given into, would render it im possible for us to' survive and overcome our present difficulties. If the bill before :he House were carried, it would go to make the Bank-note a legal tender, and that must lead to its farther depreciation. He was anxious to give the supporters of the measure a timely warning before they proceeded too far, as he WAS confident no victory would gratify our enemy so much, or so strongly prove the complete success of his endeavours to injure this country, as the passing of an Act subversive of the ancient rights of the Con stitution. Lord LAUDERDALE thought it would be un becoming to pass the Bill, under all the circumstances of the case, without having first the opinions of the Judges. He would therefore move as an amendment, that after the word ot That," these words should be inserted " summoning the Judges to attend that House to-morrow." Lord GRENVILLE spoke in favour of the amend ment, as after what had fallen from the Noble and Learned Lords in the course of debate, their opinions were necessary to explain the Bill. The LORD CHANCELLOR, in explanation, re peated that the law of the country would remain the same after the passing of the Act as at present in cases of execution, save that the landlord who took a note must take it for the sum specified in it, and when distraining must submit to have such note so offered to him. After a few observations from Lords Grenville and Lauderdale; the Aininalitini vnii negatived without a division. The question was next put on the third reading of the Bill: On this a diviiiiM toot place, *hen the numbers were— Cantons . . . 43 Non-Contenta . . . 16 Majority . 1.-41 Th e Bill was then read A thu d and Passed ; the Houk adjourned at half.pasXrvo this Morning. 1 THE EVENING STAR. LONDON. TUESDAY, JULY 9. PRICE OF STOCK'S THIS DAY AT ONE O'CLOCK. 3 per Cons. for money and account 621 ex. die. 3 per C. Reduced 624f—Havy 5 per Cent. 94i ex. die. 4 per Cent. 781 79-omnium Exchequer Bells (3d.) par to Ss. prem.—Ditto (aid.) be. prt. We noticed yesterday the arrival of the ZEALOUS, of 74 guns, from Lisbon. It now appears, that al though last from that place, she is from the Medi terranean, having been put under quarantine at the Motherbank. She left Lisbon on the 10th, and of course has brought no news. By another conveyance accounts have been re ceived to the 21st June, four days later than our pre vious information. No engagement had taken place up to the 19th or 20th June. Indeed it is pretty ge nerally believed now that Lord WELLINGTON will not hazard an engagement with the Guadiana in his rear, but on the approach of the enemy towards Albuera he will abandon the blockade of Badajos, and retreat across that river. General Deourr's division, which had joined Souvr on the 12th, consisted of from 4 to 5000 men. We have received Valencia Papers to the 26th of May, from which the following are extracts : " CUENCA, MAY 17. " A general movement of troops has taken place in the direc tion of Madrid. Three regiments of infantry, stationed on the Ebro, have been marched thither, and some battalions forming the garitson of Calatayud, have received orders to pursue the same route. The enemy must be hardly pressed for men in with drawing their troops, for in this part of the country it is with extreme difficulty they can preserve subordination, even in the towns they occupy, and nut at all in the sourrounding country, as the Patriots are in such situations, every where in arms.— Persons lately arrived from Navarre, mention the probability of the return of Joseeu ; but the common opinion is, that Bes steas will be appointed Viceroy of the Kingdom. " ARGAND)., MAY 13. " The capital is completely emptied of troops excepting the civic guards, which have the charge of the Royal Palace. The people are iu a must disorderly state, and obedience cannot be procured, so that Madrid must be abandoned by the French if! the garrison be not restored. The Governor is in the utmost distress, an most of the Court have proceeded as fast as they could to France, with the determination either to obtain rein forcements or never to return without them. The French suf fer extremely throughout the provinces of Arragon, Navarre, and even of Biscay, where there are but 7000 men. bon Arts PRE! PFROQUI, with a body of 1500 troops, maintains a very rrong frontier in the mountains, and several expeditions have lost about 2,000 men. The Junta of Guadalaxara have removed their sittings under the very nose of the authorities of Jos x PH. " BENAVARRE, MAY 10. " Tiiree new opponents of the French have risen up in the persons of Priests, who have collected each about 100 fol. lower-,and they are performing wonders. The people think they are commanded by PROVIDENCL to extirpate the French in th:e province, and wherever they appear, success attends them.— They act in concert, and many hundreds of the enemy bay perished by their valour. In the beginning of this month an attempt was made to convoy a large quantity of supplies Into Barcelona, but they were interrupted by these Guerrillas, and 70 prisoners were taken, who were !immediately slaughtered.—' 1 Another success attended their arms near Sarragessa under the like circumstances. a:;t1 the french, who had been guilty of great barbaritie., expiated their offence, in the same manner." EXTRACT OF A LETTER FROM CADIZ, JUNE 15. id General GRAHAM has sent the 47th Regiment and a detachment Artillerymen to the relief of Tarragona. " A Spanish corps, under Besituts, which had ad vanced into the Scrrania de Ronda from San Roque, in order to alarm the rear of the French army before this place, destroyed, on the 1 2d of June, a detach ment of five hundred French, between Moron and Nlontellena. In consequence of the successes of Gen. FREYRE at Übeda, the French have been obliged to evacuate Jaen, wLich they had been fortifying, in order to se cure the passes of the Sierra Morena. 44 It is reported that Grenada has been evacuated, and that General FREYRE had surrounded a corps of 2000 French at Dlezma." The Report of the QUEEN'S Council was signed by all the Members on Saturday ; and it is expected to be laid before Parliament this day, pursuant to the Regency Act of the 51st of the King. We talder. stand it to state, that they had strictly examined all the Physicians attendant upon the KING'S person, who declared it to be their unanimous opinion—e , That his MAJESTY was not in a state of mind competent at that time to resume the functions of the Regal Authority; that his bodily health, however, had not declined, and therefore that some of the physicians saw no reason to alter their former opinion, that his MAJISTY would ultimately recover." The accounts from Windsor last night were, that the KING had passed a worse night on Sunday than he had done for a considerable time. There was a repetition of the performance of the Comedy of The Country Girl, at Covent Garden Theatre, yesterday evening, when the house was as crowded as it usually is in the winter season, although , the warmth of the weather is not precisely congenial with the interests of the Drama. BRZAD.—This day there being no Court of Alder men, the Lord Mayor, after inspecting the Returns, ordered k to continue at present prices. • _ _ _.•••••••••.•11.111•Mag ~""~~'IN~'INr'ELZIGBNCIB:' • • innitliAlikiri . . : • •- '. *. alsuSalt, Jes.v h. Duke of Grafton'. Nintrod, 7st. beat Mi. Andieit'sif.sanibii Sit. 10lb. Ab. M. 1000.-7 to 4 agar Nimrod. The July Stakes, a Subscription of 50g4. each, SOgs. forfeit, for' 2-yr-old colts, Sst. Sib. and Allies, So. 41b. Two-yr-old C. IA Stawell's e. by Sancho, riot of Gipsy, by Trumpatcir 1 Sir J. Shelley 's c. by Johnny, out of a sister to Eleetton fi IA Stawell's sister to Sir David - I Sir C. Bunbury's b. e. by Sokcerei, out of Gohanna mare . 4 Mr. Wilson's f. by Alexander the Great, our o f W4ard'is din' S 6 to 4 apt Sancho-4 to 1 apt Sir C Bunburyli b. d, 5 to 2 apt Mr. Villson'S f. • . . Sweepstakes of !Mts. each. Two-yilold C. Mr. Andrew's Discoinn, 9n. - .. i Sir J. Sbelley's Muckbird, 7st. Slb. .. Mr. Wilson's Oporto, Est. Sib. - - sto 1 agst Discount-6 to 4 apt Moekbird—S to 4 apt Ofiettii: £5O for 3-yr.olds, carrying Sit. 911 b. 4.yr olds, Sat.S.yr-Oldo, sin. alb. 6-yr-olds Sat. 12!b. and aged, 9,t. D.I. IA Darlington's b c. by iir Peter, 4 yrs old I Duke of Grafton's be. c. Nimrod, S yrs old - .. * Fir F. Evelyn's b. e. Cassander, 4 yrs old - i 7to 4 apt IA Darlington'. b e.--S to 4 apt Nimrod. NIV4L lIVTRLLIGENCR. FALMOUTH, JULY 7. Arrived the RAPID hooncr from a Croix& PLYMOUTH, JULY 7. The GLEANER ketch sailed last night, with a Go vernment Messenger, chug-d with d:sp4tches for Lisbon and Corunna. The SPARTAN ivizate sailed last night for Portsmruth, to join the am-risen stria dron under Sir J. C. YnaKE And the PIIE SA \;l' Sloop of war, on a cruize. Arrived the Eliza and Jane tender, from Dublin, with impressed men for the Navy. PORTSMOUTH, JULY s. Arrived the Mums, AMERICA, and Spy, from the Downs; FAWN, HOPE, and SPatcwror, from .4 CI ZEALOUS from the Mediterranean, last from Lisbon, and is put under quarantine.--Wind W. DOVER, JULY 8. Arrived the ARMADA from off Flushing. LEITH, JULY 6. Sailed yesterday, the SNAKB sloop of war, for, Sheerness, to be refitted.—Remain in the Roads,l Adamant flag-ship, and Alarm lugger. FROM LLOYD'S L IST. The Mountaineers, Dow, from London to Honduras, was sent Into Portsmouth, on Saturday, by the Whiting off Dungeness having carried away her (the Whiting's) main mast, and tore and . • - nuzen top masts. The Hotspur frigate and Abundance store ship arrived.at Ports mouth, on Saturday, front the Mesliterraneau, with a fl-rt of transports; among them are the following :—The Airly Castle, —; the Mary, Mackee; the Mervina, Evans; the fintannia, —; Mary, liarly; the Perseverance, —; the Amphitrite, Levy; the Swift, Lego; Lo:d Nelson,—; and Jupiter, —, The Fame is arrived at Plymouth. 'The Ann, Le Page, from the Leeward Wands to Guernsey, was taken the 2d instant, by two luggar privateers, after a chic, of four hours. The SALDANHA frigate sailed from the Cove of Cork on Saturday last, on a cruise. The Warley East Indiaman, blund to China, was all well 15th of May, in lat. 38. long. 14. 30. in corn ploy with the fleet which sailed' from Portsmou..l Bth of April. The Gumorono transport is fitting out at Dept ford, and victualling, preparatory to conveying th female convicts under sentence of transportation i. the prison of Newgate, to New South Wales. • We arc sorry to announce the loss of his Majesty's gun-brig Film, Lieutenant JOHN Lrrms Comman d der, in Cancalle Bay, at four o'clock on the mf.rningi of the 28th ult. The FIRM was, with the boats of hii Majesty's ship Fvt.t.A, going in to attack two French gun-brigs which they had chased close in with the shore the evening before. Lieutenant LITTLE, find, ing the water shoal, wore round for the purnose standing out, when she unfortunately grounded on bank, and all efForts to save her being ineffectual, the was set fire to by her gallant commander and he crew, in the face of the enemy, and we are glad state, that not a man was hurt on this occasion,. Lieutenant LITTLE, with his officers and crew, wert brought to Jersey in the Fylla. They did not savi a single article of clothes. The Persevetance, Captain EDGAR, of New Ycrk has arrived at Dublin, with letters and papers to tft 30th ult. The Americans still continue to extol th bravery and prowess of Commodore Ro`GERS in hi affair with the LITTLE BELT. Captain EDGAR, of th Perseverance has'formally authorised the Editor of Dublin Paper to make the following statement in hi name:—" That Commodore ROGERS, of the Amer can frigate President, had solemnly declared to !Inv (Captain Emma) that the LITLE BELT fired the firs shot into the Republican frigate, and that ult tint he received the British fire did he make any hostil attack." We have only to observe, th tt Cartai BINGHAM'S account and the evidence of his officers in direct contradiction to this statement. LAUNCH or THE BARI-MM.—Yesterday this resting scene, so much blended with its national i portance, excited the most lively curiosity of all ran i of people who flocked to view the addition of ancthl ship to Britain's bulwark. The road leading Blackwell was literally covered with carriage coaches, tax carts, &c. and groupes of pedestrians ing to the yard of Messrs. WIGRAM and Co. the vessel lay on the stocks The river lik..v.ise pt sented its share of boats filled with company, *hie according •Nitlt the serenity of the weather, firmedi most spl endid spectacle. The temporary set erected l by the proprietors of the yard for the acco modation of the Lords of the Admiralty, the No lity, &c. the vessels in the dock-yards, tat the gulf logs contiguons, and along the shores, were cool pletely occupied with spectators, among whom we a very prominent display of female beauty at fashion. The ships hoisted their respective flap and the band belonging to the Tower Hamlets litia gratified the company with several national a . At a quarter past three, a discharge of cannon ga. a signal for the workmen to remove the sopporte and in less than a minute afterwards, this vessel m jestically glided into the bosom of the Thames, amic the reiterated acclamations of the people on sho which was returned by those on board. The bun was allowed to have been one of the most splen, ever witnessed, and the utmost regularity prevaik without one accident. The ceremony of christeni was performed by Lord ELLIOTT, and she is sago* to be the largest 7+ gun ship in the Navy.