Star. — London, England, 1826-02-24 00:00:00

'~.~~ 's:' ~r ~~. • rod whMer Welt be thought motel/hi o f ir.it wits evident they * nit pair al capital since what was _ eteest 9 *it galn • Y. .ther. No had so much ..._ of capital _accrued from the excess of our *is ge,nertilly imagined, -The prices. of. t' gal of Our vat i ons manufactures had no hanietl and supported ,by, speculation ; whole time that the advanced prices were ee were selling the - manufeciured goods tions at prices proportionably high. He was not *skin relief for bUbble speculations, norfor those who held bah at long aates ; he asked it for men who were io possession ofginet q..arititiei of valuable goo ds,"and who were never. theless, froin-the peculiar situation of affairs, in a condi.' tion of the greatest anxiety and suffering. Since he had last menti..ned the subject other failures had taken place. He might mention that of Goldscbmidt and Cotilpiny, as affording a striking illustration orthe; advantages which might arise from the measure he hatj recommended. That house had recently stood in the rank of commercial credit. So confident had it been in its own resources, that one of the partners, only lest year, having been. in America, and induced by the low rate of interest in this country, had invested' 50,0001. in the Stock of the United States. - This stock the house now held. They had established a house at Leeds, which received goods of manufacturers for future sale upon commission, allowing them to draw for a proportion of the value; in this way they hod ectepted to the amount of +5,0001. These bills, to the amount of 511,0001. had become due, -and- been paid. The whole di the goods still remained in their pos session, and, lathe present situation of *airs, hegreatly doubted, if a sale "were forced, whether they would produce sufficient to pay the remaining 12,0006 still to become due. The distress was increased by every fresh failure. When the anticipated failure of Gold schmich's house was communicated to Paris and Am sterdam the greatest sensation was produced at both, those places, where the best informed men expected that great mischief would be produced if the event should really take place, and expressed their hopes thet it might not recoil upon ourselves. The reports respecting one particular house of grest eminence, which were afloat yesterday. had the effect of knocking down the funds two per cent. and all foreign secu rities three or four per cent. The reasons why Go vernment refused to interfere were the danger of the precedent, and their objection to increase the number of Exchequer Bills. It was sufficiently evident, how ever, that three times as great an amount of Exchequer Bills might be afloat without inconvenience at a period of returning credit, as it a moment of despondency like the present. The request of the great . body of Eaglidi merchants was met by saying that some of them h id beet; speculating; and as it was impossible to discriminate, relief should be withheld from all. This he thought a hard sentence from a Government the resources r 1 ihich depended so much upon commerce. He should regret to leave the bench on which he had been so long accustomed to sit, but he feared be should henceforth be compelled to ,oecapy neutral ground—for if he removed quite to the opposite. side of di: House, he ,mi g ht there be looked %ion, as little better than a spy in the camp. Much had been said of the duty of the Bank to now late it. issues with reference to the state of the Foreign Etcheagei, upon the supposition that the state of the Exchanges indicated a laeourable or unfavourable ; balance of trade. Now the actual balance of trade was, not, in his opinion, so easily detected. In former times. indeed, is hen our chief. intercourse both of buying ands selling was with the Continent of Europe, the state of the Ecchanges , might indicate the balance of trade with some degree of accuracy; but now that we m olt. our supplies from the Continent, and export prin cipally to South America and India, the same express and immediate coincidence could not be supposed to exist. There could be no safer rule for the Bank than to attend to the wants and applications of the commer cial world. If the Directors of the Bank were to be bound at every moment by the state of Exchanges, good bye to the commercial prosperity of the country. Oile of the expressions they now most frequently heard was, that of bringing things into a wholesome state. — But if in their efforts to bring things into what was called n wholesome state, they 'effected the ruin of. twenty bankers, and spread still more widely the con sternation and distress already so generally prevalent. it might then appear that it would have been wiser to let them alone. The, compliments which Ministers are in the habit of paying to country bankers—to those of m the a be yet semi—will not counteract the effect of their measures, which tended' directly to discredit them in the **fon i f the world, and which.at the present moment of ahem wee an unnecessary aggravation] of existing evils. 'lliis was not a proper period for spews. l.stive changes. At this crisis of distress, the questions of Permanent policy, the Usury Laws, the Corn Laws, andthat important question which, was presently to be diseeste4, might, be thought, be advantageously post. posed. To suppose ilia: the discussion of tbe,principles of free trade, or of the Core LaTs,..which diseussioes, prove's/ed. them from knots ing on what footing they stood, cutAd lead it the present moment to a whole. some state sir chinas, was Word to Make a lanteniable confusion of wholesions and unwimilesome. He insist 6e indulged in two words mete. One tor himself ; be must take least to say, that in - mime ee sareaseemip *ls sun ject. be was • mot advocadni his own cause; to ehe,perasealteot on rtter of indifference whether the re lief was agonifator not. be he could not be indiffen Brent to the wishes asdlimeresti Of his tonsil ems, nor to the dimness he law nomad Chit. His other word wasime of eonselation to Ministers mid the • most y.• There *ever was a period be believed when the country wont alsoooded in wealth. at was as that was wanted. 4sidioisters perdsted ie. remain to adopt say measures tor its , ' risteratim, be was opmpened tis present a Patitiaat from the 3ger. • Alin etas City of Leaden, praying the Reese te take the pm. On ease eft temesereid stars fete Its serious amelderatiam - He massld,, alum& Padden bad been read, give modem of his huentiest • maw* as Tuesday mat for a Select Cemmittee m Wyk' lots she state of eentseertiai Marys. The cliapitzu.oß of the EXCHEQUER said, l that the Hon. Member for the City (Mr. Wilson) had no occasion to aqticipate any severe animadversions on the se stance of the petition which be had introduced. or ow l the mode which he had adopted for the purpose.. He did, hoe ever 1 think-that the Hon. Member was mistaken in some part i culars, thos;h he gave him credit for feel ing for the distresses of bus country. That was his duty., He (the Chancellor of the Exam:Leer) did not. howeiter. permit his feelings to ideates his conduct is the pre,. sent occasion, as be might thereby cause great injustice. He had been asked the other night. was Rot the policy which bid been adopted of a Cstal residency ? and he hidlieen taunted with the pertinacity °lbis adherence a 4 . 3' . 04 Ippl! sy stem . lie knew indeed that there svaattaat' cause for . 40p . levet ; but he was also e.svare that it . was the first step in which the difficulty of the proceed ing lay in mattereof this kind. He was to-night charged it was ev . tdent that-it had - acted on a principle _ to the position of the Hon. Member. The- locking up on £50,000 in the stocks of America partook of the cha racter, and *minion of the commission establishment at Leeds. The danger to bf feared was, if the Government ditextend the relief sought for in the present instance,th at there would never be a check on wild schemes and specu lations. If becould persuade himself that this would be the last ocenrrence of the kind it would make a great difference. But he much feared that compliance would only kon6rm and render inevitable the practices which bad proved so detrimental. The Hon. Member had said that no man would go to the Bank, which has the' the power of lending money - on stock, on accoott of the risk of exposure;. and yet the present mode had been pointed out, wbich seemed a mote objectionable one. But why oho dd the Government be reproved? Because it did not like to lend money for purposes which it did not approve. In the discussions which oc curred some years ago, on matters of trade and com merce, it was objected that it was hot competent for the H awk to lend money on goods. This objection was' remotted. But if people do not choose to tate advaas tag**of the facility thus afforded, why should the Go. eminent be expected to perform the functions of the Bank? He would pass by the Usury and Corn Laws. He had, however, heard with dismay that the Bank of England was not to adjust its discounts by the state of the currency and of the exchanges; but if that were the case, all that had been done by Parliament to store the wholesome currency of the country was in vain. He bad spoken, he was aware, with more than his usual warmth; he had spoken with less self-posses slot), than was customary with him : and if in the earflap seas of his argument, he bad made any omission as to any MAW if importiece, or Nthere were any defects In the manner to width he bad mated his views, he hoped the House would not ascribe k to any want of sympathy on his part.-(ehears)--te the distress,' which he admitted to prevail, and to the remedy of which he was enema to direct the best powers of his eale4.(ebeers)-941ded and mated by the talents of those by wheat he wee easreenian, and who were equally anxious for the attaimeat of the same —(Hear, hear, bear).—He hoped that he bad sullied the Mereber for the City (Ur. T. Wilson), sod that he bad promiais the He the im pelj oy of adeptly the preposition which bad been matte-Ohs BlOt LW. Gentleman then sat down amidst con tinued cheering from an pans*, the Hoese). bk. T. • W I LSON captained. Mr. BARING could assure the Right Honourable Gentleman (the Chancellor , of the Exchequer) that it wit' by no means necessary for him to declare that the extent of the present great and alarming distresses of the country had produced in his' breast the strongest feeliags of sympathy for the sufferers. He firmly ise• lieved that the Right lion. Gentleman did feel strongly _upon the subject, but still be must say that the whole. 0 his speech brought the clearest conviction to his (Sir.- Baring s) mind that be was not sensible of the depths of the mischief likely to accrue from the refusal Pf his Mb. jesty's Ministers to seMde to the measure.'. He hoped therefore that the House would not be carried away by the evident good faith which character iced every ow fence of the speech of the Bight Hon. Genii/Man.- he .mathapis cof . the City of London had been charged wt imprudence, and with embarking in visionary spatula , luaus, but the charge was not capable of proof ; the feet seas, that three-fburdis of the speculations which had canted the distresses of the country were got up in the Inns of Court by some petty attorney or agent, and not by commercial men. As many of those speculations Originated in tho west end as in the east—as many in St.4arnes's-street as upon the Royal Exchange, although all might have ultimately made their appearance at the 'litter place. It was therefore unfair to lay the blame iatirely at the doors - of the merchants. A Noble Lord in the other House of Parliament had held hiniself and his colleagues in the Ministry clear of all censure in con sequence of the state of the country, because he had given a warning of what would be "the result of those veculatinns; but he (Mr. Wiring) felt bound to say, that if Ministers did not take measures to relieve that distress they would be responsible for consequences hereafter.— If all the cases of distress in which the country had , ever implicated were put together they would amount, en masse, to the degree of the embarrassing and intricate evils which at present pervAde the country, and which have not been a little aggravated by the mea sures of his Majesty's Ministers. The pre ant case was peculiar itself—it arose, not from want of properly or riches in the country, but from the cessation of commercial intercourse—from the abstraction of a car' enlacing medium—and from a general want of confi• deuce. Government paper, however , still maintained its credit, and under such circumstances Ministers shouid issue Exchequer Bills, which, after all, were but the signs of wealth, upon merchandise, which was solid pro perty. There never existed a period in which such'a measure could be so beneficially or usefully adcyted as at that moment. He was willing to admit that if Government were frequently to interfere in the manner in which ti,ey were at present called upon, such inter femme could not fail to be most pernicious to its effect; but in a case like that which now pressedtself upon• their attention, they were as strenuously bound to interfere as they were at other times justified in .refrain. ing from making such interference a matter of common. practice. He wished to offer one observation, to show that it world be bitter to extend relief to the commer cial interests of the country by means of an issue of Exchequer Bills, than by encouraging the Bank of Eng. land to advance money upon merchandise. . Nothing could be more contrary to principle, in his opinion.' than it would be for the Bank to lend money upon merchandise. They might have the power of doing so, according to their charter; but if they were to act upon that power in accordance with the wishes of Ministers, the result would be that they would be ap raled to every two or three months for sinsilar advances. The interference of Perhaps:a was the.best mode of, procedure under the circumstances.; first, because Of its formality, and secondly, because the notoriety at tending such a measure would be a sufficient guarantee . against its being used upoa -improper ace:mons. He weold contend to the last that there neves existed an occasion in which Ministers were so imperiously called u to secede to the . prayer 'of the Petitioners, 'by the aystens *hick had been upon a foeirartr • Oceania successfully resorted to—whieb at that time, Operated like a charm, and which would of itself bi nfficient to remedy most of the evils of the country. /a censlaslea he could net help laying that his Haaswable Prised appeared thrown On men, and bodies of men, whose situation . society precluded the possibility of their exercising so considerable an influence as that which had been inti dieted. With respect to the application of those Ei chequer Bills, he did not conceive that any objection could be held to the measure. Before he sat down, be begged to say, that the country was at present menaced by changes, on which he did not wish to dwell, because thrground was dilica:e and dangerous; but he hoped theGovemment would remember that hungry men had no law, and e4legh it had been urged thatais (mesa! famine, Govestontent 'woe Isilaselleed to suffer the exigencies of the land to Idle net Mon Sillnprejodice of their own interests; yet suety minors of ilossamosnasin to be grounded on the broad foundation...4llb lie 'silky, and it was with reference to dais principle that di these gnensures ought to be directed--( Hear, hear). Mr. PEARSE said, that there . was abetter measure than that proposed, and whiih the Bank would be more willing to enter into, as being totally free from the ob jections which lay against the present. The law of the Hank Charter permitted the Hank to lend money en goods; and if these goods 'bald not be redeemed, the goods might be sold-.-but , this was not recommended as a general' practice, and was Intleed rather a mere permission time anantherity granted. The meatus which the Bask bad now la non,. would produce doable the seal erne of the one Mr. BRIGHT thought that the good effect which had been produced by the issue of Exchequer Bills on the former occasion (in the year 1799), ough to influence the House on the present occasion. He conceived the measure called for by the Honourable Member for London was one best calculated to relieve the existing j distress, and to prevent its immediaie recurrence or in crease. He thought it was extraordinary that Minis ters, not contented with bringing resources forward, J. which had increased tke pressure instead of alleviating it, now refused to listen to the recommendation of those whe were perfectly well informed on this subject, on which the Government had proved themselves completely ignorant. Mr. H. SUMNER differed from his Right Honour , able Friend in the opinion which he had formed on this subject. It was very true, as the Right Hon. Gentleman (the Chancellor of the Exchequer) had urged on a former night, that such it grant would be nothing more than granting a bonus for speculation. But it should be recollected that the speculators, the persons who had caused the mischief, were swept away, and the persons who were now suffering were the victims, rather than the entourages., of that speculation. He was inclined, tierefote, to thlok'shat the Gaetano's( ought to acquiesce In the "pumices. . Sir J. MAJOITIANKS said, the distress in Gies goW.was bees - ming to be almost as pressing as in the metropolis ; and. although there Might be a depaiture feom*principle in granting what was prayed, yet he ,dm& there were some circumstances which warranted depar torn front all'principles—(Hear, hear). He joined In the intreaty ,that his Majesty's Minister& would consent to the prayer of the Pedtioners—(kfear). _ - ; • . Mr. hIANNING iiminded die HO, SO thitiOlf ye ar 1795, the msment it.was known that at the s %site of Ibis M*.sq's Gomel... mein this' House . thought fit to-exert itself to reLleire the Orion j Orioles theu.,presaiting; those dii; tresses subsided - (heer),assaidence wasettaartd, andti at `belt of the sum of five millions granted by the House to, be• ad v a geed lb Exchequer Bills to the public', ihere was' ronly 2,T.Q0,0001. of it lent, and although applications tO the extent of 1,90%0001. more were acceded to, yet the m. , ney was never advanced, because the parties found relief from all hands the moment confidence had re turned (hear.) . He was, not desiroui of *throwing any' particular blame on Ministers for the course they had I formerly pursued ; but in speaking of the causes of the jdistresses of the country, he must declare both publicly land privately, that it was his opinion many of the ills arose front the measures that had been adopted from a . ,desire of reducing taxation. The reduction of the 5 per cents. to 4 per cents. and the reduction of the rate of interest on Exchequer Bills (flw), were measures, in his j judgment, too hastily adopted. The consequence that followed was, that every. man vested his money in fo reign securities, in order to obtain a higher rate of re turn. In *stating that a great deal of money had been 'vested in foreign loans, he was willing to allow that a considerable sum of money returned* to this country in .the shape of profit. But still, when he heard Ministers attribute all the evils that had taken place to specula tion, he was anxious that the House should. not be de luded by such representations. The country was now . arrived at a state which made it imperative that some decisive measure should be adopted for its relief.— Mischief had extended to every merchant, and the state of the country called loudly upon the Government to administer relief. He entreated his Majesty's Ministers -to consider whether the course recommended by the Committee of 181 1, in which the Noble Lord (Binning), the Member for Rochester, was Chairman, was not proper to be followed in the present crisis ; and whe. 1 ther, if adopted, there was not the same probability of the affairs of the country beingequally well wound up. He exhorted them to reflect how inconvenient it mast be for the - Directors of the Rank of England to be obliged to turn out of their regular course to meet the exigencies of the times. It was, he assured the House, from no want or desire of citing good on the part of the Directors that they &It anxious to refer these mea sures to his Majesty's Government for their serious re- consideration, but from a conviction that the measure, in order to be effective, shou'd be one on the part of Government alone. The Honourable Member con cluded, by implering Ministers to consider before they pronounced a final decision. . (Wsen the Heetierebh Geatiessea an dew', the cry et« Mr. c ai ssmis, sir. Carsairse became, test sad pintail Mr. &reetary CANNING.—I agree, sir, so far with the Honourable Bank Director.who preceded me, and A rgued so strongly on the subject of precedent,. that it is not by any means desirable to prolong the discussion open the present occasion; bat I cannot suffer the, speeches of the Honourable Bank Director (Mr. Mann ing), and of the Honourable Gentleman, the Member for &tstol(Mr. Bright), who spoke before him, couched as those speeches were, in a tone of mingled authority and admonition, to be pissed by without some statement from a Member of that Goverment whose condect they profess to direct. And first, I would say, Sir, that the charke oloich has been sir frequently thrown out against not only in the present discussion, but upon severaltuber occauoos—tbe imputation of any in- millsibilitrio those distresses which on every side, I grieve 1 to say, meet our eyes, is one which, of all others, whether l aw in ctiminstion or recrimination & ought not to have been Made. • if say, gict,..it is.adl ergurneit-that ttinini bf hide pressed. unless time orbs use it Me prepared td _ Majesty's Ministers are is fully contiked 6 propriety and expediency of the remedy propbsed 4 they art painfully sensible of the evils to which shalt remedy is to be -applied. Then, and then only, Hods Gentlemen could say that, ought I, mid those. Witil whom I act, to be charged with that peculiar integrals lity ? For myself and colleegues, • - disdahrter sonnet the imputation--(Hear)o-I• impute-to nta man an titten' sibility to the distresses which so unhappilyaurvound as : But I entreat those who litter to me, to consider what must be the cares, and pains, and anxieties of *meld whom, from the nature of their _Act, theoufferersoor# properly turn for assiaance or redress; and•if,in wadi; Lion to those feelings they give them credit few sympathies as men and fellow-subjects, I ask; if those' who happen to be so situated can possibly 144 atti, warn of feeling for the miseries they wituw-s, or be igno rant of the sever•ty of the evils which they are called upon to relieve? Sir, I ssy the state of my , Righ t Honourable Friend is a most • afflictinrone; but, while she question is not whether those evils elk; or whe ther those distresses are real, but whether the rem;' dies which some Honourable Gentlemen would apply to them be safe, fitting and isacticahle, I say, that if my Right Honourable Fiiend cannot cut sent to apply those remedies without d i ng o violence :to his judgment, it is his bounden duty, and the equal boottden Iduty of those who support him, to give a determined resistance to any measure which would be thus thrust •upon them contrary to their conviction. Let any man, Sir, consider hew easy it woulitave been for myitight Hen. Friend to have yielded to the general cry.- If popularity was the object of that Right - Honourable Gentleman, how easy. to have obtained it. If he had sought for an opportunity of deserting the firm and un yielding principles which he had declared his Majesty's Government were determined to maintain, could any circa mcsonces have-been mote favourable to such a pur pose? If he had been disposed to abandon that principle which he conceived was most likely to give an unchang ing security to the credit, the commerce, :and the re sources of the country, br might have become, with out the slightest apparent dereliction of his duty, and upon pretexts honourable to hunsaoity, rine of the most popular Chancellors of the Exchequer who ever filled the situation; but he would in thus sacrificing to popularity, have deserted a ditty which h's conscien tious conviction bound him inviolably to fulfil. As an individual Member of Parliament, called upon only to discharge the ordinary responsibilities of his situation, be might, perhaps, with the same conviction, have yielded to the urgent necessities of the case, and .aban ! dotted what •be conceived to be the strict line of his duty, when assailed by the strongest 'sense of misery, supported with all the eloquence of distress; and he [ might so have yielded without any reflection arm the justice or propriety of that course which the circum stances of their situation - had forced him to 444t,' I say, Sir, that 'if his judgment it not convinced of the thorough propriety of the coarse which has been re commended, it is his duty to waive every other consideration —to perseview in his deterniin titan, and leave to the Parliament of the country us adopt such measures as to them mey seem expedient, and to place the execution of those measores in whatever hands they may conceive most at to execute them. : In our opinion, there is but one re medy for the distress; ploialystadopeolo but one, and that is the exeicistoot •the power vested by Charter in the- Bank to make advances open the smithy of property or merehaisdise to these who may require them. The Bank Directors, however, say. as ind ed the Honourable Member who spoke lost - reminded us, that the power is in an imperfect degree—that it is to t sufficient for security—and that, in short, it is not an imperative, but only a permissive power. And yet, Eir e the Bank of England—l hope the Honourable Director will admit that—lends money on mortgages, on gold and silver, and makes advances upon Bills of Etehange, and other like securities. Will it then be said, that the power of lending on all these, is not a powder rich extends to other commodities capable of sale?' whiptir• the Act of William and Mary expressly mentions Mer chandise as one of those things upon which the Bank was required to make advances whets it obtained its Charter? and there remains not a shade* of doubt upon my mind, that the power to metre advances upon that kind of security is no more a power exclusively per missive than the power to lead money upon the security of bullion—(Hear). The words of the. Act are—" Pro- Bided always that nothing herein contained be counted I to hinder the Corporation of the Bank of Eogland from dealing in Bills of Exchange, or in coined _gold , and •silver, or in bullion, or merchandise, which may have been really bona fide deposited with them as a secu eky for advances." Can it then be denied for a mo ment, that the power here mentioned is not as-much an imperative as a permissive power ?—(Hear). I say it Lis. I say, as far as the sense of the Legislature can be gathered from the words of this Act, that the power is precisely the same as that upon which the Bank makes its issues upon any other description of property, and that the making advances upon merchandise is as much in the discretion and power of the Directors, as upon mortgages or upon bullion. Uadoubtedly, it is in the power of the Directors of that Company to say they will not. and they have said they will not;-- they have refused to make advances upon those depo sits which may be offered to them, and called • to-night upon his. Majesty's Ministers to supply that assistance to the country which they refuse, upon grounds, of which it may be said, stet pro ration whisks, but which I contend, they have full power to grant, if it is required. We have considered it our duty tto deny the assistance claimed from us; and it will rentaia now to be determined what means are left to Meet the exi gencies of our situation. It had been said, not only by the Hon. Bank Director, but by almost every one who has taken a part in the debate, that the applicatiosi on this occasion is supported by a swim of precedents, commencing with the year IrdS. I say, Sir, that, independent of the question, and whether we are right or wrong in out refusual, the granting of this assistance lof Exchequer Bills would be altogether a new measure, and that, as far as regards the precedent of 1708, -it is only applicable at all in the existence of the distress.— But, Sir, I would draw a distinction ; not only between our present situation and the time of 1795, but between it and all the ethers, and it is this, that we were called upon to make advances to the distressed is slime of war and during the existence of the Bask' Ilestvietion Act; and until we are placed in the samelituation, we must not be told that, is a mate of warouid eider a Bank Restriction Act, we are , to follow a precise precedent in yielding to the call by throldentber for the City of London on the present occasion. But, Sir, ao MAR seems to confider the strange condition in ... • - •====almill by the Honousable Member for the City (Mr. ,"e. ••( , T - . tw y mert. .. . ' fkikfd. ilia& •ha ?via .• ti Ili = hilly pease tof thain . ii p ' 46 . lll =ffr 6 Ond k i!I fttit • '),s . - Alfilithfilk MmMs could not hoi. il'aut° 'u ll gaZ . ,.,,A 7 ./ . ! 41 * . P il ishiatoUthairtearthir -1 r. 11 ., %- ' i:71711' say thsillis i lost by one wan Ore telasfillite . 'wow • minis .-- • ilt q Illic• !AXON BMl.Ta . itimesont hisitionviCtle;libathe Proce - , . uch destruptiou ibis wrong objection toCompli .. . . cation s : , 464.eampaures vshich,4onl sea adopted byldij'es they art our i m p orts , as ‘ the iestiecetzeheltser Bills !Me; that it Siould best, . ....:1. 6 • 71 1 mIreiPeCt 10 11. mites badeby exciting Mame tiude4l. remedy is te r the . prmnite . -a bonus to_ortravagance, fbribe Honourable Meaouor m om, wte the promotion of th w hom e distreas at present exist- ePtlem l eh act • doubt been en- had told them Of the . eittraVigatht speculations,:airof jag. 'With respect to the observations which bad been but during the the great distress which ensued. But if one gained *hat made on the late speculations, it was perfectly true that litY ? For rere maintained, the other lost the disease must soon effect its own Cure. this evil had been carried to a dreadful extent, but it the imputat i s to foreign na- With respect to the case of the house •of Goldscbmidt e appeared to him that much. Of the blame had bees sibility toth . ..........w.. it was evident that-it had acted on a principle adverse thrown On men. and bodies of inen■ whose situation in But I entre• a ' '• f ~~~`