Star. — London, England, 1828-06-17 00:00:00

. ' ____.---------- ----------- newel of the Charterathe exports from tbie country to giggled by a great number of the native tt oder', the In4ja Amoupted ..,,0001 .and!. is 1886 they MOSS distinguished by their wealth and ability. These aniouoted to :4,811,0 0 0 1 . Ln 1814 weoexpOtted only persons were, in common with the English settlers, er- 215,0%) yar4ciflplain potions, and in 1826 we exported same article. Then' attain with gaged in giving employment to the skill and enterprise 46,000,000 kerdrf the of the manufactures of this country ; and he thought respect CO dyed non% in 1814, we ell:rotted 600,000 that-as they were engaged in th e same pursuits, yield yards, and in 1826 thequantity exported was 10.000,000; ing to this country the same advantages, they possessed, yards. lie understood also, that an immense quantity from being altogether unrepresented in that House, an of cotton twist and yarn was likely to be exported this additional claim upon its attention and consideration— year, and that a great quaritity had been exported last (Hear). The Petitioners stated, that great facilities have year. He did not tinoersiand bow the Right Nos. been lately afforded to those engaged in the commerce Gentleman (Mr. Huskisson) could reconcile the tegula. of India ; both with the mother country and with lo- tions wh ch had been made during the last ten years, feigners; and they express a confidence that the same ohile he s he had had that been a Minister aid of t h e d Crolnto wn. withlon► the system will be still pursued ; and th at whatever changes prinripe night ln. the t may take place, the Legislature will still be di-posed to list ot disahilities,, under which the British in India la. consider freedom of intercourse the rule, and restriction. !soured be would not go, but it was utterly impossible the exception—illear)—an exception, too, only to be for any country 0) &wish or improve while they were allowed on some e xam- -an and peculiar principle of persevered in. He denied that the present was not a fit political or commercial policy. It was the more necessary tome for discussing the question, and maintained that it that there should be no doubt upon this point , as many. infght.to be brought forward at every opportunity. He of those things whith were feared mst at the time ot regretted the prejudices that existed among the Court the.alteration of the Chatter, have noteme to pass. It of Directors, and was convinced that it was discussion. they looked to the stave of the trade with India at the alone, if any thing, would remove Clem. The riches time of the relinquishment of a part of that Charte, of India were unbounded, but the. miserable moo d opo. and its.coudition at the p resent moment, they would lizing system of the East India Company dePrive.tbis, find that the direct Intercou rse between our possess,ons country of the benefits which it would derite item a in she East and the Mother Country, had been more liberal and wise system. It was a sad refiection,ohat thee doubled, while new branches of trade were opened, while Englishmen were permitted to go to every, part and the demand for many articles of our manufacture of the world, they were excluded from.lndia, If such, increased ;• and this, too, in spite : of predictions to the regulations, affecting Englishmen in their commerciali conttary of many high practical authorities, the most transactions, eai,ted in Sprin, or in any other.countrY, conversant with the trade of the East and the West, as they did io Indio, that House would night a!ter night. acquainted oitholie habits and feelings of its p eo p le. In and very 'properly. ring with complaints. If the Right the lame in inner it was stated by those same high autho- HMI. lientlemau did not bring the subject beim e the ritie.,,that the oreatest evils mwt arise front giving any House in the course of the Session, he hoped that some per erso s4on. to Bs itish capitalist , to introduce that capital !moo* STELL Aveltdil.. . .. with .Eurfipean isnot ovenierit• into the agricu:ture or , A said, that as the time for discussing the marnstactutes if the inhabit int , of Br i t ish India. --cplestiol •Ali. to whether In di a could be helper governed He, believed an opinion wds making way that B:iish thati horn had not yet arrived, he.sbould not then en. capital might he most beneficially employed in Ihitish ter upon ft. He rose to rescue himself and ,his assn. India.. He knew that its employment tended very much ciates in, the East- India Difectery from the unfounded t o norrease.the bond of union between the people and charge w.hich,o44.lseen made against them by the Hon. the-Aritish Authorities , and that it was of great import Member for Aberdeen. The Hon. Member had charged once in its effect upon the national character. He was them .with prejudice, Ind he denied the justness of the haply tt:s say' that the people of. this country had not accusation. Tn. y nod governed lidia according to been,•slow•tio call the energies of the inhabitants of the laws prescribed by Parlianicnt. That system might. India. into exertion. Already the natives were in many not meet the views of the Hon. Member, and although cases thought competent- to sit up on j uries, and they he should not then go into. the genetal question , . stilt hen the were rapidly acquiring a knowledge of t he En g lish lan- w proper time arrived he should be leady lo guage, and an acquaintance with its laws, so as to put discuss the subj reed-that .the present opportuoity . themselves in a condition to be raised t o a hi g her rank Mr. BARING ,ag in the scale of political and social life. This subject was not a fit one for enteriugupon the general question, was one of the utmost importance. The new channels which was one of vast importance. Undoubtedly the which were.opening to the trade and commerce of India question of colonization was, in reality the greatest tianon d heohould agree very .much with a n d by the rising State of New So uth Wales, and b y the upon it States of South America, now , in twit . infancy, rendered observed by the East /ndia Company, or tee by,Par., it doubly importont that India should engage their tit- liament. If Wi l l Wen to be looked at h e r s eld tot rnost.attention, and that they should be prepared, when dittributing the. populationof this country , such .a view the opportunity presented itself , : to afford renewed and of the subject would be e-entirely new. The Direcyors augmerted encouragements and facilities to the • corn- of the East India Company bad certainly governed ink augmented metcial prosperity of that vast portion' of our Colonial close exclusive mannish but they had only acted in acs possessions. , := 1: .s. . . . . . . . cordance with the law and usage. When the Charter Mr. W. WILITMORE.did not ag ree with the Right expired. that would' be .the proper time for discos . . Honourable.Gentlemanin thinking that that was not a sin g the g eneral, question; but be_ could not .helpi proper time for the discussion of the question.. Be had. thinking that hit, Honourable Friend (Mr. Whitmore) over and over again advanced the same opinions as his had argued it upon the an,. t narrowest adopt grou ed nds possible., Right Honourable Friend .had just delivete d r as to the: grounds .far narrower thhose .by the Salt impolity. of the present restrictions upon the intercourse India Company. it was tar from being a Mereslnefor with. India. • The Right Honourable • Gentleman bad tinn of commerce. He ceit iitily looked. open the siii Om freedom of •intetcourie should be the rule, prehension of the West India proprietots witbrespeet midi andowitrictionihoule be the exception; he went futtber, to the effects of a reduction of the du t y oe Eat ladle andisaid, there ohould be. no exception. But bes i d es the sugar as unnecessary ;, but he also th ou g ht that the ex. regalia otrestrictions, there should. be an alteration in pectations of the East India merchants with iespect t.) tbeßsoreernmest of India, which should give freedom the advantages they would defive from such a measure, to likitislocapital. His Right Honourable Friend had as very much overrated. In the i.resent state of the justlyatated, that when latitude had been granted, new country, its best interest required that the greatest pos. brabehes. .44 .commerce had been successfully intro- !Able ore should he taken not to create dissension and chowdo and he , (Mr. Whitmore)' begged lease to call the misunderstanding .between tblise . great and important attexotioo, of.the &louse to one,patticular instaoice. In colonies; and he thought that oothing could be more 1816 little or noindigo was produced in India, and what injurious, or should be more studiously avoided, than was produced was of a veryinferim quality. Since that any irritating discussion with respect to those interests. Ise hal f however, British capital had beenemployed in MA WARlSURTONssupootted t h e v i e w to Ice p b y its production, sind.now e insteatrof it being of en inferior his Honourable Friends 011.Whitmore and Mr. Homey, quality, is exceeded inoralase 1.94 per cent. that brought They one told that the possession of Colonies was de. from anyother eartiofothe world, and the quantity im.. sireble, as securing to ta e Mother Country a sure corn , poi-tedium this country had increased ?O fold. Indeed inerce; but robed belitoked to the . regulations of the sticls'was the quantity and the value of the indigo now ion India Company, he found them more . severe than broegbt fromindia, that it was principally used in all those of our bitterest enemies. He could indeed coin. markets. Some of the disqualificaiions which existed POre 'them with nothing but. the Marto and Berlin De with respect to British subjects in India were most ar,, crees. Nor was the Goverriment of lodiato be looked bittary. Without going through them all, he !night, at alone.; that et,Ceylon also required ,ottektion. lie= perhaps .be : alloired to allode to 004 1 wh i ch wa s o f pal, Came the, Government possessed the monopoly of cin• culler hardship. When ,any persoot returned .to thin 8/11100, the natives were prevented:from growing it. . country hone India , be was obliged to produce a cetti.. ;.i Mr. THANT said, that if the House would look fully State fronothe authorities is In*O, stating that he had Imo the subject, it would find that all the testtictioos conducted hiMself to their satisfaclion. before'llo:CoOld 'itnftosed upop -Eoropeons in India were upon political: eistaiiphoorebare to Rim, to.ludia. 860 a re.saietkes and not upon commercial grounds—(Hear, hear). The. wasswast improper, especially when it was remembered Directors of the : East India Company had no interest that the parties were rieal traders. He did trust that; apart from the geheral interest of England and of India. in future the pirectOrof the East India Company dud Mrs E.,GAtANT.eaid,that if the MOIL' Member for., 1. the Board of icontrOrd.would take a wiser . and more Bridgenorth had sidhered 40 theiprinciple that novas now liberal teeree s thaollft : hitherto donee and he could inosonveoient to discossobi , question, there would have not } . e l expressing ; es hisepipion that they had acted been no cause tq ceopplaino, but not, content. with %thi rsted wit I,treatim poird . kailoOfing..a regOlation so cotutarl. latiag that. 114,11a5IN4eleril other queatiups totally ; ells-, to 1 4 bejtcptite4-4og amhat t which be had alluded, kinct horn the Petition, and Valis followed by ritnre than when the um/ willi so near at which they must seek for one Gentleman, vim: rilit, satisfied with going Jiver ass a reheratoof , t e'Chatlter. whole grounds .of E l be:Government of India, went•to all 4.•41',U.A eigilaiorksorneshing, that. Ita,d fallen , other Govern locate where therehad ,been,monooniffo-r. li t from i lsigtin a 0 eiptir s discusskp., _He had .a,coPir of: The present Petition.wat one o, tbe most caution* and: the American (the-United States) tariAi .for ohe present temperate _documents ever presenteck too Rattlielfleati year. . Upon plain caloricloths., which the Americans and called on the•lloubu to determine whetherit, was suppmed to cost 184. per scope, yard s ,there Was a duty 'necessary to Maintain soictly,dse , prohibition of later, of 914gOser ceot, , The real sort of t thg t crittpn,sp estimat ed„ course by . Europeans with the. interior 01:ithe gouge by the Americans, was Sd. the Agent eard,„ so thot try prehibitions which were. um, prescribed-• by• thesis otos a dory - on it • 0gi.44.,perr,ce05.,., 0e.,4,10;.. • 404. the svmstonness -of -that ,liarlia Coinntny, but .hy the; thatfrioth while .they adinittetabootews,moterial fuses wisctrun of _Parliament; iihrt the Veut:unees..l i stilherl Anificot, oq,p,sretorem dpay,;l3i(*.tit4,lset,cept., b e in g espreslest• a deep implosion s As •t% The „ continuance) the solpf tettpa os ,thoseogiosnortoonl4,64,9.pf I nd i 4 , -of the commerctal festir s irtions,.ibeingounnitcessaty.os.:l and; sgypt, *ad; the countries ;Post , tasuarishli so our - He would milt observeolthat,as to the intercourae.witb on ores intOorted,-Me ' trossochbot. the duties. itie, inkelors- the -,prohibitioo. ON/wan .. right 94 wroo2 , on. r „..,,,.,„w,st ~,,.,„,,,,..,. qtypeitt,,so, : iip he hark-beers sanctioned...lop...all throbraoches of the Legia ma , s u ipos ,... I f th i los io, 6o 4 f ooi, 1 .1 4 : 0,,,git, tons, .nod bee appeaied,.to .the Mouse. whether Hon.l was.eaceionged.4..wouldriggesaly iocrease the demand ,Oentlemen, in-stonsideting• an Aat of .V.,rbarnenti: acted 1 entrioyfisiet- • ••• -' -000, .:,:., fairly : byintrodueing every, woe likely, to cause isroae, in India for our staple ce Mit UUPgiely,TLe.4PLOkignigthilr:ViPillkftl'oati.le*sd *4“hif it Owe' kir ;ot just., to, Abe part* Mr: vocittOAT,Of Ittittl4.lofts,tilltAlkatirrg4l444#' 11/3"1.14e4 4941/40"111PeolttOrlarth the tawny Of tho_ andirogYmod that they r ltotikeeloisoronssPft ciarkl.9pP.WittsEß-liHrrYa_enstli poluical.questioes fa au oritatiug Manner) and violated by every regulotion,madeeineetaberenowal, es,Wiseiber: their- haNia,mere pot lull enough ,ot .nett. , of the Charter,. The ,storW r On E 44. 10;13-P040M 18 16 061 0 ) . ..froetearlei'witboati also resorting to the quesi. aught to be ,like.ohat,qoijipjlar articks procluCestiOAO. `0,90:41* vow rms.? ~li shoo Aso ,thoughe it right lo Westfledstee. WOula. the House . ..believe that. wndoWeat,, Went intercousse .with tbeinterior. of Win wire .op. present.lßetition, tbey i might he righta' Indinsogae ossidionly. a duty el 271. the ton, Eill4Lnalial `ed.. to . ihe „o n i on . t hat it was ionteo4 the greet Nit.and mosr.iruperr sugar paid 371. the too? o While West India cocoa paid but it they Clough' voith,..hice, obey oonoko a l l , o , w t .*. a duty of 's6t. per ton, East India cocoa pitid BH. per ton. Wed. India spirits- paid a duty of 8,.• 6d. per , tant subjects, andworttly.iel,thediigheat s considesonien. gallonoandlEast !oldie. spirits wete not adolitttd• under He was anxious tbat thoomotionstioulaboAnterea j ot , • a dirty of 48seihe gallon.- West - .lndia. wool paid no. but wished it tohe done caotietealyaheiegaosions not thingebet these was a- duty- on East. India wool of 6i only tot the inteiettoot portiasoliemowtiose wo o " perbeotto eToie colvoqbeitte of such a system was to, or others 7 -the inhitbitanta of soie l tloissio E m pi tt o He n . crat*Pthedadosaryof India and of. England.. At-the dostan. The Honourable Gentleman went es to say', periodotithtermewolatf the Charter, the Courtqf Direr. that. it 'would be better to same the discussion of theseo torslialkult eeded. in making the House -Wine that subjects until a period Waived:lM othes renewal of .041 t h e eamobeecu wish Jadia could net be increased ; but Charter, when he woaldiheenitlitsatisfaction of knowing. let the Reuse look at t.e facts. Its the year of the re- that, as far as be might be 'concerned, be would ennui the tinult of his judgment sincerely as tostimas.otaff, ~. be done. The s question, as had been observed, sas•nce, commercial, but depended vrostothestgritundv. Thd in. wrests of milliens of subjects ve , ere to, he considesed *, commer cial points, but more on OW 01 gtorrads.R and that could not be doubted.after*hathad hen: aleati by several of tle very intelligent persons who had been eiamined at the bar of the House. Most of those were f o r the prevention of intercourse ; and Sir Thomas Monte, a mongst them, had admitted that if the quei-.1 tion were to be considered as one simply commercial, no doubt unlimited intercourse Would increase thel exports from Europe. From political missives, which he, however, balanced in his mind, he, was o pposed toy the principles sought to be laid down, .and it was oo dangers.ot a political kind that the propriety-of prey vention on facility of intercourse altogether ~clea pended. if permission were to be granted at stone period or another, it must be supposed that- .a Creole population would arise—not of course equal in. number to the natives—and the problem to be solved was, how to adjust the mutual. intereoairst . bp. tween the two races so. that the inferior of the two Amid not suffer. It was never intended that there should be an equality between them , an d the nese caste - would have rights . superior. He would notsay that t h e nary could not be affected by law, but healidiae owe would he .s •pr ivileped • class, more especially *beta it Was recollected that Europeans, wherever settled, never even mixed with any ether, race .svituns ' pioadtKing the evils he stated, as. throughout. die,g)o4..there , never was a perfect combination heave* their and any other race, whether African or,Asiaiic.. lie consiakted. that there was a great difficulty in considering the ques-„ tion, and thought there could be uo benefit in its agi=l cation at pi rtent.' .- . Mr. P. COURTENAY concurred with. the Hon.! Gentleman who bad Ott sat. downohat all I.helestric tions alluded to were referable to politial grounds, en which both the Government .and the Parliament had joined.. Every measure which .had taken place since 1813 was more in favour than against . the permisihre system. He would not, however; then' ge farthet„.as in the Orders of the Day which the House hat(to pi through, there was one for the progress of a 111E45 . 11t . e designed to carry into effect one of the Objects pf the petition which had been presented. The petition was then brought up and read. In moving that It tie on the liable. Mr. HUSKISSON said be was not anxious. to .prot long the present debate; but he was never. more sot , prised than at hearing from the Honourable Gentleman (Mr. Hume) that he (Mr. Huskisson) had- formed pan of a Government which had stood still for the last ten years. He would, on the tontrary, say, that ever since the charter had been renewed, every thing in the ;rosier of Government had been dont to give facilities for trading with India, but he would not their* detain the House by detailing the number of ships, or the various Other change, which had taken- place. air. Barnum and bir. HU= esplatoed. • Mr. WI WI ANI thought that it would be patter if Houourahle Members, instead of making statements, would move for papers, which would prove what had really been the conduct of parties who were- accused ; and as to the power of granting licenses, it was .well known that if the India Company acted without cause, the Board of Coottoul had a superintending power, and could always, give redfess. With respect to the order: !alluded to respecting the certificates of good conduct ) to be brought home, the Court of Directors had atlury to `perform; and it was-known that persons were-often sent home.for misconduct, whetelote it was-deemed the 'easiest mode .of proving that. such had not been the oamson for the return of any-individual, that he should have a voucher to that effect. . After a few words -in explanation from Mr. W. Wein:oar, the Pedthm.Wai•ordered re be printed. , Mi. HUSK - MON presented ayetition from merchants con nected with Cabala, praying the repeat of the 51st Geo. 111. and a consolidetrea - of the provinces of Upper and Lower Canada. ' After afew. wordirfrom Mr. Itosousum, the Petition was laid on the table, and ordered to be referred to the Committee. Lord NA'LLETORT presented a petition front Lestwithiel, praying for 'tiii 'abolition of slaveiy, and the equalization of the silatietsbn irsigar....;.Read and ordered to be printed. - - ' .• :Mt. 41. CAN agave notice, that on this day fortnight lir wbuld swage that alli.the,cbildren of negro slaves born after the year lag -should be. adored free. • • BANK 1001‘Eis (SCoIfLAND AND MU/IND) 1311. t. ; ..The CHANCELLOR of 'the EXCHEQUER moved Atli tbe &deed- the Day for the House resolving into-a Committer eta this Mill be read. • • s . . ' On the question that the Seeasse do leave the c,lair,.. _ Mi. ft UM E said, th at .on a former eccaoso be, bud been anxious to object to the farther progress ed this . :M 11, as be w r as convinced it. would have •a' deficit). 6We:id of a bene fi cial, tendency. .The' ion 4 delierit,.. however, on the subject bad preveAterl'.hini;but he tumult now shortly sate not abe tiopse:hut.objictiona, to the Bill., The objector fbal. Billyrxto rostra Scotch banknotes from circulating in Eii uil. ~ e bad ob jected to putting an end to the small notes, in 1.826, and .he had seen nothing .since which Ought toinduce him to change the opinion he then entertained. " Did ;he Righillen.Gentleanan mean to make any difference in principle between a paper circulation of IL and a paper toculation of 51.? If so, he thotighttlie, KigfitHou.. Gentleman wrong in principle, because bethought that there was as anuch ;hare of losing'bro ird: note as by a 11. note. He would ...so contend that 'llia mks mais; the wood principles which ought to regulate ;Ike cam isole)... Those s.)W thought, that curreocy.Ought of, ssett to. be,of any value, might prefer thet.h..ihotild ,be mune wide rather than in another—tia . ,gold for iestaece, bacauue it had an intrinsic:value. Brut if ,Adam Sinith's wineiple were to be allowed—that the,ettroneyeta r sof ,per value, but that it was. merely a means ofosnamefce,, and t re Right Bon. Gentleman bad , admitterfahat prim-;1 ciple—then he would contend that the turnip,' old be a: economical as possible, ln proportion as.iltectu-; relic,. . war expensive, in this ptoportion was the country impoverished, and lin therefore contended that the medium of exchange ought to be the cheapest pot-, bible. With regard to a guinea and paper, a guineai WAS tiot necessary for the internal operations of the, country, but only for the external .operations. If, there fore, they mixed the two, they ought to have as tms,c,h p i per as possible, and as much gold as might be neces, soy for tiansacatoos abroad. It this view were correct, Is put it, to Owl:lease whether it were rieba,to reduce the paper turtency ?.. it the object of, tint silt !imp ',remit panic, it, would not ,lie. found tik3fiaWerti 10 panics which had- taken. place ,were pot atptibutable to an excess of. met. cutrency, but to the great,and itpa, portant thaws' Atm: porunserce, and to the stiddeo demand ffae Stildtto enterer our exchanges, If it were, ilitended, to ept,„baokingon a secure footing s let security ha dr in•M4P4 of,taankers, and let no persons without ca pitol be allowettto ;Oma:Hwy, But the ,fight Hen. Gent,. bad lett the bookers mi,the wire footing, and auffered a l ,osiem to contioueierbich,was pregnant with panic and t a s k _The true foundaticp,for the security of a. pepe: clicaletioe : lays, not . . ill ,the denumitoitiou -of the, note* 10014.110 t itt 0014 ton-convertibility cf,those notes,i of whatever denomination, into gold., What ,Ilie cowrie try wanted Was, simply a good, seaserpt igniting. 'lb* difference 41ptie.betwern an ilicempetept ayaiem atul,a. guarded and secure on-, was more Wan enough to ac- vitt for all those evils and mischiefs which it was n,v, sought to charge upon the scheme of paper circulatiois generally. The history of the United States of America imbed s singular illustration of the truth of this mi n . cipfe. Iti that country the banking system was different 'in,different provinces. In the state of Massachusetts, for in tance, the law was,, that every bank. o!9uid•Publidt an account of all its transactions, the amount of its es► sets of every description, and the ,extent of its itsuse on a giyooday in the year. Besides this security, niy.. hank 4 het refused to give bullion for its paper i n wv .. one •in wee, was deptived of Its charter or right 'tre. issue notes by' that single refusel. Js Massach usetts .. , Dius were issued in abundance, of is ittee . 1 1 T o le f p 4 dollar; and yet such was theforceof these regoye, • tions, that during the whole period of the War with thi s . country, not a single bank in the province bad'failed........ (Hear). On the other hand, in the state of Kentucky; where the system of banking was pretty neatly the sem i as is England—that was to say, where any 'Man open e d a bank, and issued notes, who could get people to take them—the consequences ensued which might naturally be, expected from such an arrangement; bankruptci e s and panics were almost as common as among ourselves; and the paper Was often as low as at from 15 to eo es . 'rent. discount. In France, 'agent, where the banking efEitirs of the country were seen and tolderstorre by eV ry b dye( alarms were comparatively, if not entirely unknown. The effect of nny, Bill whieh.was totemi c or rest ain the ciicul tion or-limpet in Scotland, iii oss i.ecessarily;b& to produce erects the most detrimental' t, it ,it kiiigdom. At present there was twenty millio ns Of cap W . lkiffied 'its ' the different banking 'homes 'by different indivilnali, the greater out of white cos , Listed of Small deposits of from SOL to 301. each, f or which ibesi °sealers :received interest. Here was all t h e , benefit of the saving bank system secured to the indue triune:lld the Use of twenty millions of money to t h e public.. ilf the money $o invested were not placed la the bay.bs, .wh..t would be. the .result? It wo u id h e hoarded in small sums by the proprietor.; these lair leould . lose the benefit arising from lending ft, and thy •countre at large the enormous advantage of its employment and distribution. And this result emu beitneeitable netts any' emttaction of the paper system in Scotland; for it was 'selectee well known that it the bankers erased to issue theirnOtes, they could no longer allpar. the'soine rate of fifties' to their depositing c o s. tomera. la epticlosios‘bedesited so have it recollected, that he was oo thick.andethin advocate of a paper sys. semi. ,Nso man could be more .etrungly. hostile than be leis .to arty, eiyatiptona of a paper coteimcy not readily , Sind practitalirconvertible into. gold i• and he Ivey believed our own Suspension Act of 1797 to have one of the most pernicious measures ever inflicted upon the country. But because he believed that it wags a paper system founded upon a safe and legnialeil • basis thaethe country Wanted, and not a Meassie winch should still farther restrict a currency already very no. ter Lilly too far diminisbed'and scanty, be should've.* the going into a Committee, and should move that the mouon be further considered that day three mouths. • Lord HOWICK, in seconding the amendment, said, • That I'o3llol'ld not trouble the House by going into the geoeral question of Scotch or English paper currency. Heves content so oppose the present iliiesinsply upos the around of the excessive mischief aod.inconveninte which it must produce in the North, when the,•same money which was current on one side of a given lure would now be forbidden to be received on the other. The effect:of snob a law could only be, that it would be violated whenever:nen': interests were concerned in ' setting it at defiance; and then a system of inform ing would grow up—men would cake a Scotch note from their employer one day, end inforin against him for paying it torten) perhaps the next. • He held in his hand a letter from Cumberlarid, destribing in the li strongest terms the bindiance which the Measurebefore the House, was calculated to glee `to every descriptioe Of trade upon the Border; anderhea kitiet tolisidered I thet the effect would be to render' the i r e* mass of the - §aottish eurreociansfailable in all the traneltetionid i our northern Market., he was not Without hope that tie Right Hon..Gent.oppotite would consent to abandoniw .. • hir. AlderniaoTHOMPSON believed that the Night" , Honourable Chancellor ,of the Exchequer, in looking ' i it the question g enerally , had ezeinated the small note currency of the. kingdom far 'ton low. :The Right Hod. Gentleman put the whole amount under two millions !Ands halt. . But there. were 668 bankers in England; inere.thau 500 were issuers of U. notes; and supposing 'each to have only 10,e001. out in such notes (which was a i very moderate. vacillation) here was 40 amount made out, without going any • farther , of 5,000,060/. Then the effect of the policy now pumice must necessarily be to witbdraw.this whole. suet front the circulation of the country; and certniply he did out believe that 4 such .a course could fail. to,be attended with considerable mischief. The amount of our circulating medium was already too small for the purposes ofcom merce.: In' .the year 1795, the circulation had been-- gold, andyl.bl4nk. peafpeErngalabnotil about 7,000,0001., a m0i h0u1 .p_ 45, 000 .0 6014 about 52,060,0001. The amount of the public ;het time had been 16,000,004. so that it took thr ee years taxes to call. in . the whole circulation o f the country ? But how was the fact now? The amount It t ° a g s etbe es a r t of the currency wa5.'65;000,0001. and the annual amount of the taxes exceeded 60,000,0001. so that the whole currency of the country must be paid and received as taxes in the course of a singk s ecatity rear. For himself, he was unable to s ee an y might pat ;altos well bare derived by a well regulated paper ,ystens; and he regretted that the Committee pt.( p:esd by the Hon. Member for Carlisle (Sir J. Graham), had not been granted, in which the possibility cf devising such a system might have been discussed. He agreed that the system of paper issues ought to be a guarded one. It might, perhaps, be well if some restrictions were imposed as to the number of banks putting forth paper; as, for instance, that no new bank should i future be allowed to constitute itself for s uch a pur pose n ! without the consent and permission of the Board of Trade. As the case stood, however , h e was convinced that the country needed a more extended scale of cur rency than gold, of itself, could afford. Th e distresses o f ,1321, 1822, and 1826, had only proceede d from a COn traction in the circulation, and be fully expected that tie measures now pending would be attended with A ' . mauler efikct. ' i Mr. H. GURNEY said, that the Bill before the ' House certainly granted one very valuable boon to Scotland. For it he read its provisions rightle, T h eo amounted to this—that if any Englishman in any war t came into possession of a Scotch U. note , he must inet F. 201. penalty .to get the value of it. T he words of th e l ipill..were precisely against " negot iatin g or trans fe r ring so that a man in such a case would have choice but to go to Edinburgh to r eceive.h v person. All he apprehended that th e Ho u se could po v. e t . i s notern )0, do would be, to prevent Scotch bankers from ha . e ing agents in London to p a y thei r uotes, so that paper, *to be converted into motiey,.. must absolute, 112 yi• t e •ent across the Border. It n c r cecould be intended 0 1 , 1 i j • i , i i i . 1 I` l it ; 1 V . , vl I 1 1 1 • It 1 • imp* oyes ral h• Mr be di usk Irotid ay, wad 1:od. algae ;feu 101 1 to 1 rffec ICED like troll