Star. — London, England, 1811-03-11 00:00:00

rills OF COMMERCIAL C 11211171 they are also felt in a considerable degree in 'some other branches of trade; hot they have the satisfac tion of stating, that from the evidence of a very ex tensive and experienced merchant, it does not appear that they are felt in the woollen trade, to such an ex tent as would at all jotify a call upon Parliament for any extraordinary relief. - That your Committee are warranted in stating, that there appeared a general concurrence of opinion amongst thost of the witnesses who were examined, as to the expediency of affording Parliamentary re lief in the manner in which it was afforded by the issue of Exchequer Bills in the year 1793, although there was some difference as to the extent of benefit which might beexpected to be derived from such re. lief. And your Committee state it to be their deCded opinion, that although there are many circumstances at the present time affecting the stade of trade and *commercial credit, which make a great difference be tween the present period and that of the year 1793 ; ' yet the distress is of such .a nature and extent, as to make such Parliamentary relief highly expedient and necessary ; and that at promises to be productive of extensive and important benefit ; that although in many caws such aid may not be capable of effectu ally relieving the persons to whom it may be applied, from great losses arising from the state of. car- 1 cumstances ; yet by affording them time gradually i to contract their operations, to call in their means, to withhold from immediate sale articles which at pre. tent can fetch only most ruinous prices, arid to -keep .up the employment of their mach'nery and their work men, though upon a very reduced and limited scale r it will divide and spread the pressure of this distress over a larger space of time, and enable them to meet it, with consequences less ruinous to. themselves, and [ ‘leas destructive to the interests of the community. That yogi. Contusive, refer to the manner in which relief was afforded in the year 1793, and have found that the provisions of that measure which as appears by the report of the Commissioners appointed on that occasion, was attended with the happiest effects, and the most complete success, are embodied in the Act 33 Gee. 111. cap. 29, and the Committee are_of opi. nion, that similar provisicns should be adopted with regard to the relief at present proposed ; that the amount of Exchequer Bills to be issued should not be less,nor would the Committee recommend that it should be more, than £6,000,000; and that considering the probable date of the returns of trade from South Ame rica, a greater interval should be given for re-pay ment than was allowed in 1793, the Committee being of opinion, that the tim: for the payment of the first quarter's instalment should not be earlier than the mid dle of January next, and that the remainder of the sum advanced should be required to be repaid by three equal payments, from three months to three months, so that the whole should be discharged in nine months from the payment of such first instalment. speet of those goodi, as those sent 111 South Alwerlca ; that site ' considerable house in London connected with this trade, which stepped or made apause within the last two or three weeks, had REPORT FROM THE SELECT CONIWITTZIe. sent a great quantity to Cadiz ; and they Informed the witness that the t s h n e ib la is st andaccoturbsa nett d nt w b a . % that the goods would all be The Select Committee appointed to enquire intowh ich heir creditors means : h . the State of Commercial Credit, and who were direc- be able to make a handsome dividend to they should ted to report the same as it should appear to them, bills having gone back on the Manufacturers, they are ' depressed together with their observations thereon, from time in the mean time. " That there had _be t ona great fall in the price of the manufao. t o time, to the House , met , and examined a v ar i ety care; that wits: . n he tGlasgow, there were some articles of ma of witnesses ; and ha ve a g reed u p on the followin g nufactu re which had lef t perhaps 40 or 50 per cent; but he un- Report ; derstands from communications since that, the fall is greater, be- Your Committee directed its attention to three cause the distress is become more genet al. " With respect to the failures which hadhappeted, there are points ; —The extent of the dif fi culties and embarrassments which several houses which will probably pay very large dividends ; and First indeed there are several of the houses in Glasgow that he alludes are at present experienced by the trading part of the community. -a-The causes to which the same should be ascribed; to, which stopped payment , have undertaken to pay their credi - Secondtors in tannin a certain time ; one who had more than £200,000 and, Third —The expediency, with a view to the pre se nt a n d future awls out, has undertaken to pay hi! creditors in 3,4, 8, 12, and interests of the Merchants and Manufacturers, and of the public, le months, and probably he will do it ; but in the mean time, the •f any assistance being afforded by Parliament. • manufacturers cannot command a shilling of this money ; that the Ifailure of those houses, before he left Glasgow, had amounted to Your Committee found, that memorials had been I from one to two millions ; one house (the same to which the wit- Majesty's Treasury, presented to his towards the hat-i ne , alluded before) has failed since that time for sesl9,ooo,they ter end of the last and the beginning of the present hav " e undertaken to pes yf a in full. year, stating the great embarra s sm ents and distress .'fiat the failur o the export houses certainly arose from their having eerie greatly beyend their capital, having exported w hich were felt amongst the Manufacturers i n the ro .d uses were toaf nargort tbewatierueuxt captal b and some tentiutheund even erstoo bad large understood many capital,ofthose Cotton Trade in Glasgow and Paisley and their vi cinity, and praying for public assistance ; that the but being disappointtd in the markets, it was found that they same were confirmed by the representation of a meet- could not make their returns so quickly as their bills became due; frig held in the City of London, on the 12th of Fe- there are houses of that descriptiun in Liverpool, and sotae in Glasgow." bruary, which sent a deputation to wait upon the B • Being asked, as to the amount of failures on the Chancellor of the Exchequer, with a Copy of the ' present occasion, as compared with those in 1793 ? he Resolutions adopted at that meeting. These Resold- said, . The proportion of failures will be always some bons your Committee have inserted in the Append , ping ix '- • • . , mg i n proportion to th e extent of the trade, (which to this Report. • has increased wonderfully sincel793) ; and of course Your Committee found, by the evidence of the wit.: if, the failures how are to a - mach tarter among has tresses which they' ex:mined, that those statements 'X •• , . , - they were at that period.' and representations were founded on fact. • I . Ya ur Committee haring given this full extract from It appeared to your Committitte, that the principal -r me evidence Of Mr. Garden, have to state, that it wai part of the distress which was complained of, had i n • g e n e r al , onfirmed by the evidence of Messrs. I..and arisen out of great and extensive speculations, which : R. Mackerrell, and Mr. Henry Fulton, muslin manu comnienced upon the opening of the South American . f ac turetx at P a isley; and that evidence in a bream de markets in the Brazils and elsewhere, to the adven- •b - cures of British Merchants. I gree s tosi m il a r import was given to the Committee Robert Peel. With by Sir regard to the state of the Mr. GARDEN ' the Chairman of the Chamber of ' manu f acturers i n L a ncashire, he stated, that the price Commerce and Manufacture at Glasgow, said— , of goods had fallen 40, 5 0 , and in some instances 60 •• That in Glasgow and the neighbourhood the distress began i a m o ng the manufacturing body of the people, and it has pressed per cent. ; that the greatest manufacturers had been wore severely upon them hitherto than on any other class: that ' obliged to reduce the quantity of their work by one it began about the month of Octob e r or beginning of November I third, others one-half, and others again had been ob bat. The cause of it appeared to him to be this :—that a set of I lilted to discharge their workmen altogether ;and that merchants in London, Liverpool, and Glasgow , conceiving teat • . 1 .., 5 . ..", the markets of South America would consume a vast quantity of even ‘""'e which were contioued in employment, ear manufactures, entered lute a project of very extensive exports * were continued at a very . reduced rate of wages, to those countries and to the West-India Islands, chiefly intended amounting to not more than one-half of their ordinary for the Spanish Colonies; these expeditions not meeting a ready . payment—that under these circumstances, great dis market, those exporters have not been able to pay the manufac turers, when thetas became due • these bills were therefore re- tress was felt amongst the workmen; and though the re tu rned upon the manufacturers, Which created a great deal of di.- had not been any failures among the more consider trim : many of those houses that were the original causes et the able and best established houses of manufacture in evil are gone to bankruptcy king ago; but they have created t hi s ' Lancashire, yet that great distress and embarrassment evil upon the manufacturers of whom they purchase(' the goods: must already be felt by many, and that some Parlia that the manufacturers have their property locked up in bank-' rapt.' mutes; that part of it will be lost, no doubt, but yet that , mentary assistance would be of most essential advan in the course of 9, 19, or li months, a considerable part of the Cage. Your Committee think it right to referto the re capital will return to the manufacturers; but while they are de- turns of the export of the Cotton Manufactures in the prived of it, they go on with the greatest difficulty—many of the f o ll owi • ng years, to spew the state and progress of the weaker have been broken down: that the manufacturers of goons : '' who have capitals still feel great distress from this cause, and it jeade in th is article of manufacture, u p to the p eriod Is that class of people that it would be desirable to relieve, be. I when this distress began to be so strongly felt. The cause a httle aid from Government would enable them to go on I official value of cotton manufactures exported from with their business, though , on a lintitan Beak; but still they ! G reat as Britain, in the year ending sth January, 1808; would be enabled to retain a certain proportion of their work- . people or labourers ; al s o; whreas, if they get no kind of relief, they • was X9 ; 846,589 ; in the year ending sth January,. must be broken down s and the labourers with their families j 19f19, 111,885,805 ; in the year ending 6th January, must be left without means of subsistence ; that this distress still 1810.'418,616,783 ; and imthe duce quarters ending I presses very heavily upon them, the export merchants no: being ..10th October, 1810, £12,761,196. • able to pay the manufacturers for the, goods they have taken: I„, . that in the course of trade great quantities of goods tram Stet- r •It appeared - to youreormnittee, that there had been Paistey: Land were sold by agents in London ; those agents gave a tempo- ,no want of a disposition on'the'part of the Bank's in Resolved, sears, accommodation to the manufacturer, but nothing more, q j ...eotliltd to give their accommodation ; that they had That this Meeting is strongly impressed with a sense of when the merchants could not pay those bills which the y .11114 liberallyapplied it far wpossible; but th at . as as as Oven for peck, the bills went. ack upon the manufacturers . . .; was nnfacturing bodies °revery p art of this kingdom are se' " That there is this chain of connection between the =nurse. is impossi . hi e they could continue their aid, as vta : and which threaten the most destructiv toting body and the upper classes of merchants, the Banks in I they had their capital already locked up in an im- merchant, and to every class of manufaosuerercznanser orb ee Scotland having discounted or advanced money upon those bills I , mouse number of Bills, the payment of which was dent on them. of the merchants fur the manufacturers ; those bills having gone 1 a u s pandaft. • That this distress, which in the origin was co' back, the ninufacturers are not able to take them up; the apt- I ', I I our Committee also found, that great digress was attributable to the imprudently extensive specular' tc's of the Banks are therefore taken up also , and they are not able to give the regular accommodation which had been used t felt in a quarter which was' much connected with this disoausts to those new markets in South Amen entiy been opened, has, in the opinion of thin to do to their customers. In this situation of things, too, a want I trade, n a naely, amongst the Importers of Produce e • a certain degree occasioned by circumstances r of confidence arises in the banks themselves, when they see peo- from the foreign West India bland*, and from South and far more extensive influence and ; such. pie breaking down around them. they become timid and afraid A • mertca. will, upon enquiry, be found to justify an ey of transacting any business ; a want of confide nce on the p art of ''' That reat parts of the returns for the manufactures the assistance of llyiament, under tin the banks naturally creates distress among the u pp er classes of g Merchants, who are thus deprived of the usual accim odation or !which were exported to those parts of the world, came Cmum isle'nen of h i s *sty's Trea" That the system of warehousing ger means of negotiation ; that therefore persons who are possessed ' h om e in sugars and coffee ; which not being entitled band property have not the same means of obtaining c redit ' out payment of duty) having been t of to sale is the home market, there were no immediate don by the construction of the V that they usually have had, and very far from it—this want of confidence In the banks makes them distrustful of every body, means of realizing their value. warehouses, and of similar rote sad the merchants have felt great inconvenience in consequence. These representations of the distress experienced in Pend* "team, the events w 'lle witness said, he understands that some of the banks at Glas- the trade of the cotton manufacturer and exporter, and two years have tended to mar sow and in that neighbourhood do little business, they will rather from the want of market for f • °reign colonial produce, Spanish the trade not only of the Pee settlements in So accumulate their capital, and wait the result of the present situa- . were also confirmed by respectable merchants and era - quered Colonies of Gus , ton of things ; this want of confidence creates general distress among very respectable merchants , dens in London ; who also stated, that the embarrass- countries under the din have been anxious to s• " 'Diet the intercourse of credit &menthe Merchants them- mints were felt in other branches of trade, not connect- taws and of the Bono selveawas much broken down by means of these circumstances, , ed with foreign commerce or colonial produce. from these 'insulter even where the Merchants are solvent. It also appeared to your Committee, that one cause in a short 'pace or " That there is considerable injury to the Manufacturer, from being obliged to stop his work ; his machinery g ets our of order, which might be considered as connected with and as in amount beyor bin workmen get dispersed through the country, and h e cannot at present aggravating the existing distress, was the . power, wealth tributed to pr collect them again, but at considerable trouble and expense; and I extent to which the system of warehousing the goods tae enemy S when It is understood that his business is stopped, he loses his i o f custom, and when he begins again, it is almost the same as begin- 1 f ore i gners as well as native merchants, for exports - exportatio: cling a new business ;It it therefore extremely important that the I Lion, had been carried. On this point, the Committee mription• Manufacturer should go on , though on a limited scale. I refer to the evidence of Mr. Cock, Commercial and are bee' " That in his opinion the demand would, in a great measure I Public Agent for the Corporation of Liverpool,and and ° i n ~, came round to them again ; that the home trade and some other General Agent to the h mere ants of the town, who in. ho' markets are still open to them ; that he has always seen in his experience of thirty years, that a glut in a market is followed by formed the Committee, that , a brisk demand ; for no person will supply the markets or adven- " Since the opening of the West India and London Docks, Lure at all when they are overstocked ; hence the market becomes Great Britain has, under the provisions of theWarehoming Acts, exhausted and of course a very good demand arises afterwards. become a free port, into which foreign goods of almost every de- The markets of South America and the West India islands are scription may be brought and safely deposited, and from whence overstocked at present, but they will naturally come round, and they may be exported again without payment of Importation du the home trade always takes off a certain quantity, so that be had I ties. This country possessing peculiar advantages for foreign to doubt in six or twelve months this increased demand will do commerce, the consequeoce of such facility to introduce goods more than take off what is on hand now, or what will be mans - from all parts of the world has been , that the merchants of other factured in the mean time, which will be a very limited quantity countries, whether neutrals, enemies or alliel, have been eager to irked. avail themselves of every opportunity of sending their goods hither. " That if there was no particular glut in the market, from the From Spain (for instance) such goods as have not been imported time of shipping the goods, till the payment could be commanded on British account, the Spanish merchants have been anxious to is this country, be should conceive would be twelve or fifteen send here for safety and for sale—the same remark applies to • months ;it may in some instances be sooner, but, generally spealt. Portugal ;in fact we arc now the exporters of Portugal wines to ise, he should conceive about that time. In some instances Per that country—while importations from Europe, not the result of ;TAMS have been mach quicker, perhaps by the return of the I a demand for therm have thus been occasioned, the markets of same ship ; and he mentioned that there have even beets instances South America, both Portuguese and Spanish, have been thrown of ships returning within four or five months. open to us, and the greatet part of the immense productions of . " The usual date of bills given by the merchant to the manta those places (tram which formerly we received but little property , factitrer is six or nine months, but in some cases it may be es direct except bullion) now comes to All the warehouses, and for a toiled to twelve months; in cases where the goods are sold by an time to exhaust the capitals of the merchants of this country.— aecnt in London, that agent interposes his credit, and gives as Our conquests also have had tie same tendency ;in addition to the accommodation to the manufacturer sooner, if he requires it, produce of the old British Colonies, we now receive that of Mar- . It appears by th Report of the Com • • for nil:stoners file issue of Exchequer tinique, Guadaleupe St. Crux, St. '1 homaes, &c. ; the greatest Bills in 1793, to assist com taking his chance of payment from the merchant. " That the distresses were immediately and in the Heat instance . part of the p- educe of St: Domingo also now camel here. From mercial men, that the whole number of applications mcasinned by the want of payment for those that that were Ten- ' Europe, the importations from places from which the British Sag for loans was 332, and the amount of the e sumsgnt ap4 dud; but at the same •ime the w ant of a market is certainly a is excluded, have been immense — these causes co-operating at a plied for, 5e3,855,624—0f th 0 38 - . ese - wereae part of the cause. Tim markets of South America having been period when the situation of the United States has prevented their : and the amount lent for a time overstocked, there is no great demand at present ; and ; ships from introducing into Europe that large proportion - of West was on personal securitY iii 2 015 even though there wore a demand in the present situation of i Indian and South American productions of whirls they would have , . ,000, on deposit of goods - A'187,200, tistal things, with the want of confidence and the want of credit, it been the carriers, the effects have been more sensibly felt by our d 12,202,200. The whule sum was repaid a conside _ world be difficult for this manufacturers to know to wheat to sell I merchants.' rable part before it became due, and the remainder with safety ; that is chick occasioned by the want of payment Your Committee, upon the whole. think themselves regularly at the stated. periods. for the goods &old 1 that will in some measure come round la . • • er will . Justified in stating, that the r embarrassments and dis- Government on Satnrd • • the mule of twelve months, and then the manufacturay came to the resolutions:lC tresses at present experienced are of an extensive nos-1 have his own capital again. Igranting licences g enerall y for exportation without t seyerely felt amon st " That teem has been a very considerable supply of this sort lure ; and though they are mos g any restrictions whatever, except that h 'll •• t eywi not be of manufactures sett to the peninsula, which was in a great mesa the manufacturers and merchants in those trades allowed to vessels bI . • e onging to the porta of Hantlittrgh, sure with a view to Omit being sent to the Spanish colonies p-a • . which !'lave hcen wore particularly specified, yet that, D recaen , F rance , an d h er d epen d en cies. - that the same failure of Raiment Demised in some degree, la re - . „- ~ . - - ... A .'._ i ;- '4.- y .. COURT OP US lON. * , - • -,..- _ MIST DIVISION) :WaitVARY tie MOOT T. ocettanx. ' 2 " 'There were three` iffeleet . actions in this case under the consideration of the Court. The . nott wits an action at the instance of William. Stunt, Esq. of Wimpsoo, against Dame Mary,'Lises, Elizabeth Glendonwyn, otherwise Gordon, and Sir James,Gordon of Letter fourie, Bart. her husband, and news, to obtain imfils ment of a minute of sale entered into, between Mr. Scott, and the deceased William Glendonwyn, Esq. • of Parton. The recond was an action of reducticn of that minute at Lady Gordon's instance, &c. against . . Mr. Scott ; and the third was an action of removing at Mr. Scott's instance against Lady Gordon, Joe. After a good deal of procedure had taken place before Lord Armadale as Ordinary, his Lordship allowed the parties a proof ; after which a state of the process was 'prepared, on which a heating in presence was ap pointed by the Court. On advising the cause, Lord Wooneouszete said, I think it unnecessary to consume much of your Lordships time in a cause of !: ;s nature, where I have found no difficulty in coming to suck a conclusion as satisfies my own mind with respect to its merits. There are here se veral conjoined actions, but the action of reduction in effect comprehends the whole t and the question comes simply to this, Whether the pursuers, Lady •Gordon and her husband, have shewn sufficient rea sons for setting aside the transaction between the de gender Mr. Scott, and his father-in-law Mr. Glen• donwyn, for the purchase and sale of the family estates to that Gentleman ? Various grounds of dial lenge are set forth in the summons :—There is the challenge on the head of deathbed ; the allegation that the deed was executed while the granter was la bouring under the disease of which he died, while his faculties were impaired and weakened, and while he wee thus easily subject to be influenced by the artful and interested designs and persuasions, which, it is alleged, were employed by the defender, to induce him toenake an alteration in the destination of his estates, which he had formerly intended to descend without division to his oldest daughter, in order. to maintain the succession of a series of heirs of the Ca tholic religion to the estates of this ancient Catholic family; in short. a charge of constructive fraud and circumvention, by which it is said, that a most undue .advantage was taken of this gentleman, in his weak state of body and mind, to make him disinherit his, eldest daughter, and transfer his estate at a very ina dequate value to the defender, a man who, with re. gard to kis country, was a stranger ; a man of a dif ferent religious persuasion, and for whom he could have no :ration' favour or preference, to induce him to such an act, if undue means had not been used, while his mind was thus weakened by infirmity and disease. These, no doubt, are relevant grounds of challenge, and the question is simply whether they APPINDIX. have been made good by the pursuer ? Here lam at London, February 12, 1811. no loss to say, that iu my opinion she has failed in At a Meeting of Merchants and others convened for :he par. every one of them. The granter of this deed, Mr. pose of taking into consideration the difficulties and distress to Glendonwyn, was the unlimited'fiat of his estates ; he which the mercantile and manufacturing bodies of this country . possessed the Unrestrained power of destining them Its are exposed ; and the best remedy that, under the circumstances can be applied; present, Sir J. SHAW, Bart. JAMES MARTAT, any way he pleased. He appears to have been from Esq. Jean TVNNO, JIRRIAIAH HARMAN, THOMSON BONAIt, J. i nature a man of good understanding, of abilities even J. ANIMA/I'llW, Esq. I. STANITORTR, J. INGLI4 ' THOMAS ' beyond the common, and of an acute and vigorous Rata, Wizzusa Poarza, and the Deputies from Glasgow sod .. . mind.- He seems to have entertained the .intention Paisley I Resolved, and purpose of selling his estates for a considerable . length of time ; to have well revolved in his mind; That this Meeting is strongly impressed with a semi of the very great difficulties and distress to which the mercantile and to have formed estimates and calculations of the value manufacturing bodies of - every part of this kingdom are subjected,_, of his estates, with a most uncommon degree of acute and which threaten the most destructive consequences to the I IIeSS and precision ; tohave weighed every circumstance merchant, and to every class of manufacturers, and others depen- regarding the mode of Making the transference; to dent on them. That this distress, which In the origin was considered to be h i re suggested the most effectual methods for secure attributable to the imprudently extensive speculations of some in- ar carrying it into execution ; and to have at length dividuals to those new markets in South America, which had re • Most deliberately executed it, while his.mind and in eently been opened, has, in the opinion of this Meeting, been in I culties were perfectly sound and entire. He continu a certain degree occasioned by circumstances of a different nature, ! ed, after executing this deed, to administer his affairs, and far more extensive influence; and such, as this Meeting trust ! will, span enquiry, be found to justify an expectation of relief from 1 and to at:end as usual Loth to his own business, and the assistance of Parliament, under the sanction of the Lords even to the business of the public, in attenjing road • Conunissionen of his Majesty's Treasury. I meetings, and so on, where he shewed his usual abi- That i the system of warehousing goods for es-exportation (with- • lity and soundness of understanding ; in short, there out payment of duty) havihg been brought into complete opera- 1 is not a syinptom of imbecility to be seen to the last Hon by the construction of the West-India and London Dock bouts pf his life—when he was suddenly attacked by warehouses, and of , similar receptacles for merchandize in tho . _, s , principal outports, the events which have occurred during the lut snat encase, which is often known to be preceded by two years have tended to make Great Britain the emporium of : no symptom of weakness, no decay of mind, or even the trade not only of the Peninsula, but also of the Brazils, of the . bodily disease , but to come at once upon a person en (vane& settlements in South America, St. Domingo, the con- rently _ s • .....- s . the soundest health of lsody and quered Colonies of Guadaioupe, Martinique, kc. but even of Jursbil aPP.a , countries under the direct influence of the enemy, whose traders ~ inii4 . Neither is there any thing in the nature of have been anxious to avail themselves of the protection of British the transaction itself which involves a suspicion of )sws and of the honour of British merchants. And thus it has, ' weakness on the one part, or of influence or circum from these simultaneous and co-operating causes, happened, that .....g ssn on the othei. What were Mr. Glendonwyn's In a short 'pace of time, goods have been brought to this country, i ''"'""" I do not feel myself bound to in amount beyond all precedent and all calculation.—That the i motives f ar thi s sale, power, wealth, and high character of the nation ,bave In fact con. i inquire ; but the transaction, considered as a pecuni tributed to produce a most alarming evil. And the measures off i ary bargain, seems to have been a' rational one—to t,Le enemy having been especially directed to the preventing the i have been we ll weighed and deliberated ; and the exportation of the immense quantities of merchandise of all d••• i "'. seriptions thus accumulated, the consequences are, that the competent to judge. was a full are become a bur:hen, and the advances to the owners on account goo d s price, so f ar as lam and adequate value. There is not a shadow of pretence sad the payment of freight and insurance, have become grievou s , , 1 for the plea of lesion here—all is equal and fair upon In such a degree as to threaten the most solid and respectable the principles of a commercial bargain. What then homes with all the evils of insolvency. That it has been the effect of this combination of circumstances remains as a ground ef challenge in a case of this to produce a general distrust and want of confidence, whereby ; kind ? I will not take notice of the attempts that have the evil has been incalculably aggravated, and is daily extending ; ' been made at challenging the date of this deed—thb "so that, unless some immediate and effectual remedy be provided attempt to prove an alibi in one of the instiumentary the consequences will, la the opinion of this meeting, certainly witnesses, or any of the other objections that have prove of a fatal description to the trade and manufactures of this Leen stated by the Counsel in arguing the cause.— city, and the kingdom at large, and every interest dependant upon them. That this Meetlsg therefore consider it as incumbent on them, Tee Counsel themselves did not seem to lay much stress or conseeuence upon them. The main ground tet submit these deeply-interesting matters to the consideration of challenge was the constructive fraud, and this, as of the Lords Commissioners of his Majesty's Treasury; humbly I have already said, I think they have completely soliciting that relief may be afforded by a loan of Exchequer Bills, failed in making good.—l am therefore of opinion as was done in a similar case of commercial difficulty (but of a much less alarming extent) in the year 1791, for such period, and for sustaining the defences anti assoilainginthe reduc- . with such regulations, as under all the circumstances herein set tion , and for decerning in the declarator of implement. forth shall appear to be just and expedient. Lord ARMADALE.—When this cause came before That Messrs. Thomas Reid, J. J. Asgerstein, John Tonne, me as Ordinary, I considered it very important indeed John Inglis, and the Deputies from Glasgow and Paisley, be re- to both parties. The magnitude of the averments on quested to wait on the Chancellor of the Exchequer, with a Copy of these Resolutions. the part se t Lady Gordon, and the shape which these averments assumed by the very specific condescen dence given on het part, left no doubt on my mind that a proof was necessary, and that proof having been led, I appointed a state of the process to be made up Gip your Lordships' conaideistion, as the speediest way of bringing this question tO an issue. Having now .. considered the state of the process- e -tecurring as I do to the strong allee . ,-ations of the pursuer in the reduc. • Iron when the. eau.: was before me ; and comparing these allegations with the proof; and The full and sea & ' pie pleadings Which I have /maid 'at the Bar ; I cola' Lthat Illitm at aloss to conceive upon what ground dy Gorden ever expected success. Your Lord , ihi s ps have see; tile stature of thi elver /gm . ; thif dais' . transaction centludedlay a forktal minute of sale of a - fuze estate, by an abtolute'pmprietor, Os his son-in law—a connection which rie.t the highest approbation •c •• I .