Star. — London, England, 1811-05-09 00:00:00

such a state, as to hear some of the doetrineikleat )tad been advanced by the antagonists of the Report, yet be wculd abstain from all theoretical comments and confine himself to a statement of several facts which it might be important for the House to consider. By tome it was contended, that the present system, if not ab solutely justifiable, ought to be persevered in, because it afforded us the best means of opposing the enemy. What ! were there no means of successfully opposing the enemy but by a currency not founded on true principles ? By others the recurrence to what was also allowed by them to be the true principle of circulation was objected to, on the ground that our great foreign expenditure, the extent of our taxation, and the state of our trade, would not permit it. Let the Committee consider the situation of Hamburgh. Was the trade of Hamburgh good ? Was she free from taxation ? Was she not suffering the most se vere and oppressive enactments, by which her com merce was nearly annihilated.? But under all these circumstances of distress Hamburgh had disdained the cowardice of resorting to a fictitious currency ; and the consequence was, her exchanges were most favourable. What was the state of Holland ? Was not ter commerce destroyed ? Was she not taxed to the very lips ? Was she not exposed to all the seve rities of a military despotism? Yet Holland had also disdained the cowardice, which having committed, this country was called epon to continue—she had disdained resorting to a fictitious currency, and con sequently the exchanges of Holland were favourable. So with regard to Paris. Were the French finances flourishing ? Was the trade of France extensive ? Was her taxation light ? No ; but having preserved a real currency, her exchanges were in a good state. It had been said that the exchanges of Great Britain with Sweden were favourable to this country. This was a fallacious assertion—for on enquiry he found, that the exchanges of Sweden with H imburgh were SO per cant. more in favour of Hamburgh, than the exchanges of Sweden with Great Britain were in fa vour of the latter. But the dep:eciation of our cur rency had been denied. He would again appeal to facts. It had been usual to send over specie to Guern sey to pay our troops there. Each guinea had re cently been paid to the soldiers at the rate of 255. One regiment, however, refused to receive them at that rate, and there the matter rested. Again, a per son who inherited from a distant relation the sum of a thousand guineas, was lately paid in specie. He went to invest the money in the funds—and on asking the price of S per cents. was told 64a. On inquiring, however, at what rate he could obtain the stock if he paid real money for it ? he was told, after some con deration, that he might have it for cash at 60 ; and at that price he actually purchased it. Let Parlia ment be cautious not to allow the proper moment of interference on this most important subject to escape. At present the water was fordable, soon it would be a mighty and impassable sea. A considerable portion of our currency was at present unprotected by law.— A great number of dollars had lately been issued, and was still issuing. These would shortly afford the op portunity of extending the practice which had already in some degree, obtained of making two prices. Par liament would then be compelled to take some mea sures for the security of the personal liberty of the subject. As had been ably stated by an Honourable and Learned Friend of his last night, although the tender of Bank notes for a debt was a security against a mettle process, it would cot prevent an execution. As soon, therefore, as this practice of making two prices should be confirmed and extended, creditors would enforce their legal demand of payments in coin or bullion, and Parliament would then be driven to the necessity either of making Bank notes a legal ten der, or of adopting the proposition of his Honourable ' and Learned Friend, under circumstances of encreasea embarrassment and difficulty. The CHANCELLOR of the EXCHEQUER would consider it an iuercusable omission if he ne glected the opportunity which now offered to address! the House on the very important subject new under discussion, and which was provided by the jarring sentiments delivered by two Honourable Memaers," who, nevertheless, had argued on the same side of ' the question. One had contended that it was im possible to adopt a measure which it was the opini , n of the other could alone save the country from ruin. For his part, he conceived it was quite nugatory to consider the subject but with a reference to the pre sent state of the country, and he must dissent from the Ifonourable Gentleman who had expressed an opinion that the abstract question of deprecia tion was alum to be adverted to. He had no incli nation at this stage of the debate to go into detailed statements, in which persons who had preceded him had made it unnecessary ; it would suffice to refute more generally the arguments of the Gentlemen op positie—One of their opinions was, that the excess of paper had produced a depreciation for which there WAS no remedy but a removal of the restriction ; but of the existence of this depreciation, which they had assumed :is a fact, they had not offered the smallest preof. What they had substituted for proaf was ne such thing, but tobe explained by circumstances fo reign to the question. It was necessary to imbibe a clear idea of what they denominated excess, before a step could be taken in the argument. That assuredly was not excess which was necessary to the trade and revenue of the country. He would go further, and observe, that it could not be called excess of currency when that currency had increased in a certain• ratio to the increase of the mercantile and other concerns it was destined to manage. It had been necessary, in con cquence of the drainage of our money by our fo- i reign relations, to increase our currency by resorting to paper, without which there would have been a de ficiency which would have subjected the country to great inconveniency. The question then was, whe ther with such a drainage as that he had alluded to, we should or should not have recourse to suck a means as would sustain our commerce, agriculture, and other sources of national prosperity, which, without it, must sustain a partial failure. No unprejudiced per sn would hesitate in deciding in the affirmative.-- • The excess then which had been complained of as calamitous, so far from being so, was the prop by which we had been sustained in the difficulties which had pressed upon us. War, •it had been contended, begot poverty, and poverty peace • other wars might have done so, and if the present had not, (and who would contend that it had), the difference was attri- 1 butable to the excess which had been so much abus ed. It was as much a question to decide this night, whether we should witbdzaw or not from the war we . . Rim were sttceetsfuliy waging for our existeeee ? And should we pause for a moment to consider whether, in order to produce a favourable state of our exchanges, we should desert the cause of our country and of the civilized world: There was a possibility, indeed, that we could recover our balances ; nay, there was a cer. taint) , that we could, it the country survived the at tempt to do so; but could we indulge a thought of t the risk ? Were not the stake and the advantage in. commensufable quantities ? The Gentleman who had spoke last had desired us to look to the courage which had been exerted by Hamburgh and others of the Continental States, in facing the evils of their cur-, rency, and the rich reward they had reaped in the pre servation of their exchanges and balances; they had reaped a rich reward indeed—they were beneath the dominion of Bonaparte 1 Oh, happy Hamburg!) ! happy Holland ! They had preserved their exchan ges. Yet, notwithstanding the manifold evils which had been stated as the result of our pusillanimous conduct, with respect to our exchanges, he would not, i he would confess, exchange our situation for that prosperous state which had been obtained by the prowess of Hamburgh—(Loud cries of Hear, hear.) Having endeavoured to throw some light on the term Excess, which had given birth to so much sophistry, he would now say a few words with regard to another favourite term, viz. Depreciation ; and, in the first place he would observe, that there had been much pains taken by the Gentlemen opposite, of late, to confound coin with bullion, though In the early stages of the discussion coin alone had been compared with paper ; that now being found Insufficient, bullion was had recourse to ; so that their premises all set ting out with one, they very logically drew their conclusions by the aid of the other. But, he would maintain, that in the present state of otter Coinage I.aws, coin was specifically different from bullion.— He would not agitate the question, whether those laws were founded in wisdom or otherwise ? it suf. ficed for his argument, that they existed. If bullion circulated in this country, whether stamped or not, then indeed it might be identified with coin but not so according to the preient system. As the affair stood, he would contend that a comparison was not to be instituted between Bullion and paper. Much had been said as to a standard, and gold and silver it had been argued constituted that standard. This position, in its more simple form, he could hot ac quiesce in; the standard was gold and silver certainly , I but gold and silver bearing a certain relative value to each other as established by Law. An Honour able Gentleman (Mr. Homer), speaking of the Bank of Paris, had a&nitted, that very considerable in. convenience had resulted from their contraction at one period of their issues to a certain amount, but at the same time had stipulated, that no conclusion un favourable to his theory should be deduced from his admission. I will grant you this, said he, or much more of the same nature that might seem partially to affect my theory, but the principle must remain un touched. He did not wish in the least to insinuate any thing to the disadvantage of the Honourable a. ttlerrian's feelings; from the little he knew of him he was sure he would he one of the last persons in the world to regard with an eye of indifference the sufferings of his fellow-creatures ; bnt there were sea sons when studious men like him withdrew as it were frcm all concern with the human character, but in asmuch as it embraced the philosopher, the econo mist, or something of a similar nature. But he would ask if the Bank of Paris had created much dis tress by a contraction even of its slender issues ? What extent of calamity might not be expected from the revulsion which a similar measure, adopted by the B ink of England, would he likely to produce ? What would be the state of the country under such an operation ? The Right Honourable Gentleman then conten ded, at considerable length, that to adopt the proposition of Mr. Horner, would be to aggra v ate the calamities under which the country labour eci, engaged in warfare as she was. Without Bank issues, such as had taken place, ae could not carry lot the contest against France; and if the balance of trade" were restored, it would be at the expeßze of our political consideration.— What the Committee had recommended was not only dangerous but ruinous —( Hear, hear.)—He had not noticed all that he had been desirous of alluding to, but he gave it as the full conviction of his mind that the Report of the Committee was contrary to the evi dence that had been laid before them. They had not adduced proofs to support the conclusions they had drawn ; and in conclusion he gave it as his firm opinion, that if the Resolutions of Mr. Horner were adopted by the House, they would be the voluntary instruments of the ruin of their country !—(Loud cheering marked the confusion of the Chancellor of Me Exchequer': Speech. Mr. CANNING thought the Committee who had presented the Report of their labours to the House, had been hardly dealt with. The Members of that Committee had not sought the task that had been im posed upon them ; but they had been .appointect by the House to examine the Bullion. They had done that, and they had done it, too,in a manner honourable to themselves and advantageous to the country. They deserved the thanks of the House,• and the applauses of the nation. He was glad that this subject, which I was of vital consequence to the country, had been dis cussedin that House—from the discussion much good would ensue: But the subject was before them, and they must dispose of it. The Right, Honourable Gentleman then went on to express his approbation of the original propositions (Mr. Homer's), with the exception of the last. He supported his opinion with' elaborate and ingenious arguments drawn from the valuable body of evidence contained in the Bullion Report. He concluded with expressing his determi nation to support all the Resolutions proposed by Mr. Horner,except the last; and instead of that, he wished the two last of the counter-Resolutions proposed by Mr. Vansittart, to be inserted at the conclusion of Mr. Horner's. The CHANCELLOR of the EXCHEQUER explained. Mr. BARING, Mr. HUSKISSON, and Mr. VANSITTART, mutually explained. The question was then loudly called for, and post. poned to this day.—Adjourned at Five o'clock. PRICE OF STOCKS THIS DAY AT ONR creLocs. , Cone. money 64-1 65—for aemennt s S per-Cent. Reduced 6414 4 per Cent. 71+-5 per Cent. Na nq. Exchaq. Is. db. to supresie—ies6 Ufa Taps. „ THE EVENING STAR. LONDON: THURSDAY, MAY g. A Merchant veihel, the John and Sarah ketch, has arrived at Plymouth from Lisbon, which place she lett on the 30th ultimo. The . Captain reports, that on that day an express had reached Lisbon, stating that Almeida had surrendered—the garrison priso ners of war; and that Badajoz was closely invested, and expected to fall every hour. Trade at Lisbon was uncommonly dull. The vessel which brought the above intelligence took out a cargo of wines and brandy, but was obliged to return with it to England. By a vessel which has arrived in 46 days from the Brazils, we learn that trade had revived there in some measure, in consequence of new communications hav ing been opened with the interior. The market was still overstocked, however, with British goods. Hides and tallow were at low prices, and so very plentiful, that the store-houses were filled with a quantity suf ficient for three years consufroption. Our naval force at the Brazils was employed in cruizing along-shore, with the exception of the Fou nROYANT, (Admiral DE COURCY'S flag ship,) which continued stationary at the seat of GBvernment. By letters from Paris to the 4th, and from the French coast of two days later d ste, it appears that the mischiefs of the Continental System are rapidly increasing. A number of fresh failures have taken place since the preceding accounts ; and fears are ex pressed, that before the conclusion of the present month, many of the principal commercial houses in the French capital, and the chief trading towns, will be under the necessity of suspending their payments. Amongst the recent failures, the house of Cabana and Co. of Bayonne, is mentioned. The letters from the French coast state the very general persuasion, that the Peninsula would be eva cuated in the course of this year. The apprehension of a rupture with Russia, and of an insurrection in the north of Germany, on account of the total annihi lation of its trade, were mentioned as the ostensible reason& for withdrawing the' French troops ; but the real causes were conjectured to be the hopelessness of success, and the incompetency of the French Govern ment to make greater efforts than those which had already failed. It was expected that some commercial regulations favourable to the United States would shortly be an nounced in the French ports. The accommodation 'which was allowed to the Eng lish prisoners in France, of occasionally corresponding with their friends in this country through the port of Morlaix, has been suspended, in consequence of its having been discovered, that many of the letters allu ded to political affairs. We are unable to furnish our Readers with any' , further intelligence respecting the hostilities which have broken out between France and Prussia. In the mean time, a vas iety of reports received from the Continent, through the medium of private letters, still tend to confirm the idea of a war being on the eve of bursting forth in the North of Germany. It appears certain that the French General RAPPE has received orders to form a cordon in Prussia, and to occupy all the ports of the Baltic between Memel and tiantzic. The expedition of Sir JAMES SAUNAS= has given an alarm to the French Despot, anti it may be his object to annihilate the King of PRUSSIA before the more im portant enemy shall take the field against him. C ULINCelat r had passeahrough Memel on his re turn to France ; and at Petersburgh the merchants had taken advantageof his absence, and were extremely im portunate with the Emperor that the independence of trade might be maintained, and that the Continental system, which had ruined the neighbouring tingdoms, should not be adopted in Russia. It was also said yes terday, that in Sweden, leave was given to import and export colonial produce freely. A kind of manifesto, however, has been industri ously circulated throughout Sweden, with a view to conirince the people of the mischiefs likely to ensue to their own manufactures, from their continuing to hold any commercial intercourse with Great Bri tain s this does not look like any relaxation of the spi rit of hostility threatened by Sweden against this country. A regular series of Gazettes from Buenos Ayres have been received. They contain various Proclama tions of no interest. The new Viceroy, ELI°, had ar rived at Monte Video, and announced his arrival to the Government of Buenos Ayres, calling upon them to pay obedience to the mother country, and to the au thority vested in him. To this Address the Junta re plied in very petulant terms ; requesting the new Vice roy to abstain from insulting them in future. Moan°, who had been sent to England on board the Fame, died on his passage. The Americans still continue to enforce their Non- Intercourse measures against vessels from this cnantry. The Magdalen, SKITCHLtY, from Liverpool, arrived off New-York t he 28th of March, and was ordered to stand to sea for seven days, to give oßportunity to apply Sit Washington 143 r leave to enter, she having sailed from Liverpool after the 2d February. Yebterday a Court of Directors was held at the East India House, when Caprzin Enviians, of the Lord forbes, one of the last ships of ti , e season, took leave previous to departing for Bengal. .The Court ♦oted 41000 - towards the relief of the Portuguese ii furl *dimmed at its o'clock till to marrow. • - • . ..„,. titt A iit4V. •f The very large fleet with reiti - nrcementi for the armies of General GRA HA st, Lord Wattisr.i•oNi and Sir JOAN STISMAST, are sti d. tarn sd ac Poitstmutb by adverse Winds. •Most of the light:ttansports which 'rave !atoll , re. turned from Lisbon, are ordered to be got reaily again! with all possible dispatch, to return with addi tional large reinforcements tun the Peninsula. The Heroes of Barrosa who have an Iv•d with their wounds in this country are--Colonels HEPAUittil and SEABRIODT, COLiabiTT, CAMERON, and BCC TIA:K, of the Guards ; Lieutenant Castrant., of the 95th regiment; Lietileuairs Hcarsaasoa ancl , Tavt.ott, of the 9th regiment. We are sorry, and so will ali our military readers be, to hear that the gallant Col. Busts, cf the 20th Portuguese regiment, ads diej of his wounds. The skill and kind attention of SirJA Si ec FULLOWCS to all the sick and wounded Officers of both services, are mentioned in terms of the. warmest gratitude lir all. COURT-MARTIAL AT CHELSEA COLLEGE. The Court yesterday pt•ocecded in the investigation of the charge exhibited by Captain BLUM against Lieutenant-Coloht Jon NSTOM The dispatch sent by- Lieutenant-Colonel Joni. STONE to Lord CASILERNAGH, explanatory of he mo tives which clristrained him to resort to the arrest of Captain DUCH, WAS read, together with a vativty of documents connected with that extraordinary measttre, the propriety or impropriety of which the present trial , will establish. For the reasons assigned in our yesterday's paper, however, we refrain crom entering into a detail of any of the interesting facts which have transpired. The examination of Captain &ion, for the prose cution, was brought to a conclusion about two o'clock ; after which the JUDGE ADVOCATE declared to Lieute nant-Colonel JoHNrTONE, that he was then at I:berty to proceed in the cross-examination of that °Neer. Lieutenant-Colonel JouN.troNs, after a short cr a. versation with his Counsel, Mr. AsotPnos, prayed permission of the Court to reserve his cross-examina tion of Captain BLIGH until to-morrow, in order that he might have time to prepare himself more fully for that purpose.—To this the Court unanimously ted ; and the Amos Arivocm a remarked, -that in a case of such public importance, every possible facility would be afforded towards a full anti candid iniesti gation.—The Court then adjourned to this day. NAVAL INTELLIGENCE. PLYMOUTH, MAY 7. The American, captured by the SHANNON and AUAtON hi gates, and sent in here yesterday, proves tube the Andrew, Co n 4 from Bayonne fur New-York, with wine and brandy; fire Sewn/40N WAS obliged to fire into her, as she would not brim to, and unfortunately a shut from one of tlit large guns took off the thighs of a Scotchmati, who almost itnmethstely died—hie • name is not yet known. Tisi , notortuuste man was taken by the French about twe months since, In a brig horn Newfound land. and put into prison, front whence he made his escape and got on board the Andrew, where he was concealed by the master and crew among the cargo. The ship was searched by the Fri-ash en discovering that he lied broken prison, but helves so well hid they could not find hint t A shot also from the Saari non wounded slightly one of the American siemen. POR f SMOOTH, MAY O. Arrived his Msjesty's .ship i , with several outward• bound, from 11,. rorris.—Passed by, the HIND cutter, for the West Indies.—Sailed the CoLossos, for Plymouth; and tll4l ACHATZII, on a cruise —Whni S. • - - - DEAL, MAY 8. Arrived the BADOLIt sloop of war, front the Northwartlowv Wind S.W. SHEERNESS, MAY s. A convoy for the D'ltle will Rail on the 13th Inst. and ode kW Heligolani on the iTh.—Arrived th e A merman ' hi p Ed uem d , Captain Lauri', with Pine timber for the Dock-yard, trout Geor gia, America.—Sailed the KANGAROO man of war to the West. ward, DC/ENDER lugger to the Northward, and the Ecuo sloop of war to the . Downs.—Arrived the Aoutt.ox frieate from the Westesatd, and sailed up to Chatham.—Wind S.W. HARWICH, MAY I. Arrived the Beaufoy packet and Freeliog by-boot, frOns Hell. Boland. LEITH, MAX i. Arrived in the Roads yesterday moruing,the Coraoxestditip of war, ITOIII a cruize ; and the GALLANT 1n -brig, &Jai Cra m/fly. The Comet smack, from Loudon to Leith, arrivtd in Brundsiand Roads last night. During her last cruise the boats of the CHIROM, along with those of the C, .to and lii.azt sloops,made anunsuceessful attempt to cut out somevestels front a port on the coast of Norway ; in which the Master and o Quar ter-Master of the Cherokee, and two men belonging to the Clio, were killed. The Blue's !outsell was taken, with 14 men and officers. Several of her men were killed, but the exact nunlike we have not yet learnt We are sorry to announce the death .r R. CUM BERLAND, Esq. the Author. He was in the 85th year of his age. His most popular Play was Dit rert Indian, and after a loiTg interdal, his Wheel of *Huns • was rendered hardly less popular by the acting of Mr. KEMBLE. Mr. CUMBERLAND was universally ad mitted to be a profound scholar, as well as an able writer in various departments of literature, and a poet of no inferior class. He abounded in anei d rtes, which he related in a terse, elegant, and pleasing manner; and he might altogether be considered as a distinguished ornament of British literature. He was the son of Dr. CUMBERLAND, Bishop of Kilmore, by the youngest daughter of the celebrated Dr. BENTLIa. We havialso to record another loss which litera ture has sustained in the death of W. BOSCAWRN. Eq. one of the Commissioners of the Victualing Office ; whose poetical works were highly appreciated. DEATH BY DUELLING.A. dad Was fought en Tuesday morning, at day break, in a field about a mile and a half from Totteridge, betwixt unknown parties who had alighted from post chaises, at the. King's Arms Public house, near the spot. In . an hour after one of the gentlemen was brought in mor. tally wounded in the abdomen, and he died in four hours after. A Jury was held, and it was proved by some husbandmen that a duel had taken place, but the parties wtre strangers. A verdict of wilful murder' was returnod. The body was owned after the Inquest, and the deceased turned out to be a Mr. ILuttitsoN, a your. ., min abotat 22 years of age. • The Friends of the Royal Laneasterian system of Education. will be much giatnied with the interes ting aetails of its success, about to be laid before the 1 public General Meeting, to b. held at one o'clock on . Saturday, at the Freeni4son's Tavern.. The Report intended to he bro . 'lglu forward is of a nature grand and striking in its details, and exhibiting a train cf strong facts and benevolent success. that will sterol be likely to find a parallel in the annals of Benevo. , lence. Several personages of distinction, and some of :the Royal Family ; are expected to be. prese nt.