Star. — London, England, 1826-02-11 00:00:00

:•,.'f„ - ' " 4, ' 61 .,,'WF- i A • ' - 7-. . - .41..,•• . ; t...'i. . . , / 4 6. 7,1; 16 . :.:',"... . ... .:‘ . 1; .. ft.-... ~ 9 . • si, , t,-. 4 1 ,i1 t;. ~......,...- -- h - t , /w - . .... • , • . • f l i •"..ti - trrit•Lksg i ve / .. .•• • • .. .. "- • • -:. • -.....*.i..1 -:i . . a : ..:4: . ..•.....7 •. ' -- - - ----- r - -.4'....., : "77. . -.'" r " - ---- 03 . . . - fl . c • Ji.- • . . ... r . - • -,, p S . t .' •: - ..- ii" - N.... 4 4r4 4. . at . 7 4 . , . . .. . •,-- 44" .. WZ/ 41..0 • ..., 1 4 r „, . . . •• _ . . SATUR DAY, FEBRUARY 11, 1526. • NUMBER 12,174.] PRICE SEVEN PENCt: OXFORD ELECTION. PARLIAME TA RY PROCEEDINGS. -op House. He might ha v e been wrong in supposing it indispensable that the question must be considered in a Cornmittee upon the Acts; but he could not have conceived there was the smallest te .son to suppose that anybody was prepared to say that by a previous objection they would stop the consideration of any great public measure, so pressing as that he was about to introduce to the House. The crortae taken by posed of paper convertible into coin, from some a .use or other these fluctuations still took place. Supposing the cause to be a succession of unfavourable seasons, at they had been sometimes k sown to prove--;-supposing the supply of the soil of other cruintries to he unavail- able, either from an impediment raised by the laws,nr from any other circumstances—sappo , ing this to create a gradual, tendency in agiicultoral produce to rise in value—and the case had happened over and over again —what remold be the consequence?— The new and: improved interests thus derived . by the class of persons so benefitred, led them to an extended employment of capital in the iurther cultivation of the sil, and that undoubtedly led to an increased produce. Rut tfe consequence was, that the high profits derived from the supyrior quality of the hest lands, offered a tiIHE CONIMJ I.Lrge for conducting Mr. EST -11 Collars ELECTION, meets daily at the Thatched. Reuse 'Lyon, St. James's street, at Ten o'Clock. THOMAS GREENE, Chairman. HOUSE OF LORDS, PrimaAar 10. This morning the hearing of Appeals was resumed, for the first time this Session, by Lord Girton's, who was assisted by Lord ltsorsoet.a; and Earls Gear end STANHOP; and Lord &waxes, were present as the Appellate Peers. Lord GIFFORD informed the House that his Majesty bad been graciously pleased to grant a pension of 1000/. per annum to Henry Cowper, Esq. late Clerk Assistant of Parliament, and to order that measures be immediately taken to secure the same to that Gentleman. EAST INDIA HOUSE, February 10, 1826. r 1 1 11 E COURT of DIRECT'ORS of tie ITED CWIMAY of MERCHANTS of ENGLAND, trading I. 1k EAST I.VDIES, do hereby give Notice, the Noble Lord, however; would have that effect, if generally adopted. If the Noble Lord thought that 'A convenient mode of dealing with such a que,tifm, he was sorry to differ with him, but he held w very differ ent opinion upon the matter. If such preliminary ob jections were taken, every great measure would b. cropped in !inane, and before its merits coul , l be a•ce►- rained. lielthe Chancellor of the Etchequer) thought that he had chosen the most convenient mode, bee use he might be asked pies riot's, and have to give explauations, after statement of the measure ; and if he were compelled to make it in the Heine, and nut in Com mittee, their forms would preclude him from the possibility of ad dressing Wittman' more tl.au mice to the question. lie therefore hoped the Muse would pot adopt the objection advanced by the Noble Loa. Tbat the COURT will be ready to receive Proposals in writing, ou or_before WIIIINEADAT, the ISth of March next, from the Owners of good, sound, and suhstantial SHIPS of the burthen of from FOUR HUNDRED to EIGHT HUNDRED TONS B...gistered Aleasutement, specifying the rate of Freight at which te.y may be willing to let such Ships for our V.lyage, to and f:otn Bei gal. Mr. Hose read a Patent appointing William Courtenay, Esq. Clerk Assistant of Parli.soient. Mr. COURTESAY was then formally Introduced and took his seat at the table, after having been briefly coogratalved by the Earls of SUATTIMBURT and 141JDZIIDALI. The Earl of SHAFTESBURY presented a Petition from the Lord Mayor, Aldermen, and Common Councilor the City of Lon don, against the continuance of Negro Slavery. Laid on the table. The Earl of CARNARVON presented a Petition from the Stainers, Dyers, and Glovers of the Town of Yeovil, in the County of Somerset, against the importation of. foreign Gloves, Laid on the table. The Earl of LAUDERDALE expressed his intention of moving, on a future evening, for certain Returns relative to the numb‘r of Country Banks from 1790 till 1793, and thit pf Bank ruptcies in the months of March. April, Allay, and June, 1793, distinguishing those of Banters. Though the Noble fLiver pool) was not present. there was a question which he should put, as he thought that it might be in the power of a Noble Lord opposite to answer it. - A notice had been given to the Stamp Office In England nbt to stansp any more notes for Private Bankers. Now a separate Scamp Office had been established in Scotland, he wished to know whetlarr a similar notice had been transmitted to it? Mr. BARING said, that if the question were one fen which any other time would do as well, then the objection of the Noble Lord might he worthy of consideration It must be re• membered that they were going into one of the most important subjects that could occupy the attention of the Lirialature, and cer tainly with the least possible information. It WAS therefore ne cessary, that they should first hear , the lionoutable Gentleman's intentions expounded, for at present, he believed, no one knew what they were. Lord BEXLEY said, that though the subject was lint exactly within his department, it had come to his knowledge that nu notice of the kind alluded to had been served on the Stamp Office for Scotland. At present it was the kntentinto of his Noble Friend to apply his measure only to English circulation.—Adjourned. The Order of the Day having been read, Th.. CHANCELLOR of the EXCHEQUER moved that the Bank Charter and Promissory Note Acts, be referred to the said Committee. That the COURT will also be ready to receive Proposals, ip writing, on or before the said Waonxsoar, the 15th of March test, from the Owner or Owners of good, sound, and substantial COPPER BOTTOMED SHIPS, of the Burthen of from Fi VE HUNDRED to SIX HUNDRED TONS, Registered Mea surement, specifying the rate of Freight at which they may be willies to int' such Ships, fur one voyage to Chiaa, and from China to Quebec, in North America, at which Port they are to be dis charged front the Company's service. . That the COURT will also be ready to receive Proposals, In writing, on or Wore the said Wasocanae, the Is:h 'larch next, from the Owner or Owners of good, sound, substantial, COPPER BOTTOMED SHIPS, of the, burthen of from FIVE HUN DRED to SIX HUNDRED TONS Registered Measurement, specifying the rate of Freight at which they may be willing to let such Ships for one Voyage to Chine, and front China to Halifax, in Nova Scotia, at which Port they will be discharged front the Company's service. The 'renders, with the words " Ship Tender " on the cover, to be severally seakd up, and left with the. Secretary, at this House, at or before Twilve o'Cluek at Noon, on the said Wen. xusar, the 15th of March, beyond which hour the Coint will not receive any Tender. JOSEPH DANT. Secretary. The Particulan of the Terms and Conditions upon which the Skips will be respectively employed, may be had, upon application at the Office of the Clerk to the Committee of Shipping, at this Muse, on or after WirsonssuAr next, the I Sth instant. IMPgRIAL OAS LIGHT AND COKE COMPANY. AT a very numerous HALF YEARLY GENERAL MEETING of this COMPANY, held pursuant to Act of Parliament, at the London Tavern, this 9th day of February, 1826 ; R. E. WILLIAMS, Fag. Governor, in the Chair. After a Report presented by the Board of Directors of the pro ceedings and protpecis of the Company, and a Report from the Auditors, whereby it appeared that the constantly increasing susoutces of the Company had supplied funds to make a Half Yearly Dii Wend ; at the rate of Ss Pound.; pet Cent. per Annuni; after approrriatin one-eighth to the Contingent Fund, and would, then leave spepa,iderabie surplus at the disposal of thtr Company; the Court prisceeiled to approve such Reports, Ite:electcd as Directors, Dosset. Atiaste, S. B. M. Ba surrr, Esq.ll. P. T. P. Fortes, Esq. ankl J. smrni, Esq. and as Auditor, Est/lazes Ftasus, lisq. who had vacated their Olfizes by *fans ortime; and voted unaniinou.ly a Dividend at the rate of Six per Cent. per on the Monies prid on each Share; and unanimously vso—'fhat this Assembly, much gratified by the pros u:rous situation of the affairs of this Company, in these times of general depression, cannot hut attribute these satisfactbry results' to the z-Nd, perseverance, and wisdom, with which their affairs have beer. conducted, and request the Governor, Deputy Governor, Directors, and Auditors of the Company, to accept Weir respectful and cordial tha'tks. Itssoorao--That the thanks of this Assembly be presented to the Governor, tor his conduct in the Chair this day. By Order, BA RTHOLOM EW AMY HEW, Assist. Secretary. TIM BANKERS—AND THE PANIC. • This day is published, price Half-a-crown, GOLDEN RULES for BANKERS, with Observa• ' %ions on the ressarr PAPSC, and the destruction of COll - AL CREDIT; and Animadvenions on the LASOUASIZ and Comm= of blimareas. By Sir RICHARD PHILLIPS. Printed for Wilson, Royal Eichange ; and Knight and Lacy, Paternoeter.row. N.ll, Mothers and others who want this Pamphlet lot distri bution, tu.sy have fourteen to the dozen. WINDOW BLINDS OF WIRE GAUZE. THEY a& seen through from within, but Persons outside cannot see into the room : Venetian er other Blind Frames can have Gauze put in them, and the Mahogany newly polished : if had the full height of the window, they prevent the injurious effects ut the Sun on Furniture; they are used in e , rriaees, painted any colour. Also various other Articles of Wovi. Wlrs. Au Advertisument from this House is inserted in this Ana the ether principal Papers, every Saturday. Patent Fine Wire Work Manufactory, 370, Oxford -street, near the Pantheon, and at 19, Magee& AN ADDRESS TO THE NATIVES AND INHABP TANTS OF NORTH AND SOUTH WALES. Y T 0 N, STOCK-BROKER and LOT ITRY .1 . 4/ OFFICE KESPER, at bis Old and Lucky Oise, a, Corn hill, begs leave to inform his Countrymen (he being a native of the Principality, and the only one in the above Profession), that the Last Drawing but Two is fixed for ST. DAVID'S DAY, Ise or I..acm neat t be anticipates, it being the LAST that will ever be Drawn on that Day. his Countrymen will come forward and sup• port him with all their might. The inducements are great—these being Si: Prises of illto,ooo, besides 1/110MOOS other Prizes, and no Blanks, to be desisted on the above Day ; therefore no time should be lust, as the opportunity of gaining above Half a Million of Money in One Day, may never happen again. CHILBLAINS, RHEUMATISM, SPRAINS,&c. BILTLER'S CAJEPUT OPODELDOC.—Cajeput I, which is the basis of this Opodeldoc, has been long esteemed on the Continent, as a Remedy for Chronic Rheumatism, PaJsy, Stiffness and Enlargement thy Joints, Sprains, Bruises, and Deafness; and the experience of 1...te years, in lingland,proves that it merits the high character use's of it by the most eminent in the profession, in those obstinate onuplaints. Being combined in the form of Opodeldoc, it is ren t stied inure penetrating, and conacqueutly much more eficacinsisas au external application. Rubbed upon the skin, by means of flannej, or the warm band, it allays morbid irritation 01 nerves, invigorates the absorbents, and accelerates the circulation. Enid in Bottles, at ls. lid. and Is. 9d. by Butlers, Chemists, 4, ebeapilidc, mixt of St. Paul's; and b 4, Sackville.strect, Dublin ; &cur and Cu. 136, New Bond -street, and =O, Regent-street; and by the principal Medicine Veadets ihruughout the United King d gym. *burn also niay be bad, Butler's Chilblain Cerate, an cx r~i inn for Chilblains when 'broken ; used also in Scalds, ILA &C. ir.,- lk careful to aak for Butler's Cajeput Opodeldoc. HOUSE OF COMMONS. The SPEAIta took the Chair at the usual hour. Mr. BYN G presented a Petition from the Inhabitants of Staines, praying the Abolitipn of Slavery.—Read, and laid on the table. • Mr. PASCOE GREN FELL presented a Petition from the town and neighbourhood of Peuryn, in Cornwall, to the same effect. Read, ani ordered to be printed. Mr. Sheriff CILOWDEIL presented a Petition from the Lord Mayor, Aldermen, and Common Council, praying for the Aboli tion oSlavery. Mr. Alderman WOOD said, that the Petitioners prayed for the abolition of Slavery in the Colonies, and that they would very willingly bear theft 'hate of any expense necessary to indemnify in dividuals who might sustain a loss thereby. Ordered to be printed. Alderman WOOD pre-clued a Petition from certain &diem and Workmen, prying that the House would not allow the Im portation of foreign Silks, especially as they were then labouring , under very great distress.—Read, and laid on the table. Mr. PEAJRSII presented a Petition from two individuals, Silk Throwaters, of the Town of Devises, praying against the Importa tion of foreign Silks.—Read, and laid on the table. Sir T. LETH BRIDGE presented a Petition from the Glovers of the town of Yeovil, in Somersetshire, against the Importation of foreign gloves.—Read and laid on the table. Sir •11. PARNELL presented a Petition from several Ship- Owners of the port of Dublin, complaining of the desertion from the merchant service, and praying the House to repress such dealer tion.—Read, and Lid on the table. Air. BRIGHT moved, that the Report of the Commission ap pointed in 1793, upon the subject of the commercial distresses at that period be reprinted.—Ordered. Ifs had also another motion, which.. perhaps, required notice; but if the lion. Secretary to the Treasury did not deem it ne cessary, he would proceed. The Hon. Gentleman then moved for the amount of fischequer Bills issued under that Commission (1793); also the number of persons who had appliettfor assistarce, apd the amount of losses, if any, sustained.—Ordered. Alr. MA BERLY moved for various Accounts relative to the amount of Unredeemed funded debt of the United Kingdom, from the year 1819 to 11128, Inclusive.--Ordered. Mr. BRIGHT moved for leave to bring In a Bill to facilitate arrangements between Debtor and Creditor, by means of Trustees. He wished the Bill to be printed, and hoped.thatit would receive the attention of the commercial part of the House. Mr. SPRING RICE moved for a Return of the names of every parish in Ireland, where compositions bad been effected under the Tythe Act, stating whether made with the consent of the Clergyman, or the aay Itnpropriator.—Ordered. COMMITTIC OP SUPPL.Y• The CHANCELLOR of the EXCHKQUEE rose and said. that it woula be more convenient to the flirtheranee of the general business of the House if they first went into a Committee of Supply before going to the principal question of the night. He should then submit a motion to the Grintonittee, that so much should be granted to his Majesty for paying et outstanding Lx chequer 13+W. This course would raise 'no question upon the subject of M.:chequer Bills, as the discussion of that would after wards naturally occur to the Committee of Way. and Means. He was sure the House would feel with him, that unless some'such vote were come to early in the Session, there could be no proceed ing with any measures of publiefiniutce. He_should, therefore, take the liberty of moving, that the House melee' Welt into a Com mittee of Supply. Lord FOLK ESTONE wisbedfirst to ask the Right Honours.* Gentleman whether his motion related to the measure respecting the Banks? The CHANCELLOR of the EXCHEQUER—CertaInIy not. The question for going into a Committee was then pot. • Mr. BARIEG asked whether the modals In the Committee would have anything to do with the subject of the Banks ? The CHANCEL LOX et the BICH EQUEB.--Nothlng on., earth to do with it. .The House then went Into Connalttee, and three resolutions for granting tains on account were agreed to. The Moose resumed,' the resolutions were reported, and the Committee ordered to sit again on Monday. BANK ACT& The CHANCELLOR of the EXCHEQUER moved the Order of the Day for going into a Committee of the Whole House upou 'the Bank Charter and Promissory Notes Asc. lord FOLK ESTONEwialted to suit whether spas that question the Right Hon. Gentleman meant to propose his measure, or after the House bad gone into Committee? The CHANCELLOR of the EXCHEQUER.---inihe Com mittee. ------- Lord FOLKESTONE then said, that the Right Hoe. Gentleman had stolen an unfair march upon the House. In the debate which wok place on the List day of the Session, the Right Hon. Gentleman gave notice of a motion for this day upon the subj-cc of the Bank Acts. But on Monday the Right Hog- Gentleman came facedown no the House and made It an Order of the Day for the House going into a Committee upon it. Now this was, in his opinion, a vary objectionable mode of proceeding; beteg*, it sup posed the House to be in possession of facts, whereas they were quite in a state of Ignorance. He for one was not prepared to go into the Coalmine!. It the Chmcellor of the Eacbequer would state his measure upon the question for going into Committee, be was ready to withdraw ; but if not, he hoped , the House would weigh well the step they were taking, before they admitted there were grimeds for a Committee. The CHANCELLOR of the EXCHEQUER said, the Noble Lord accused him of hbving stolen a march upon the House—an accusation which he did not feel that he had justly intu. red, AS he had done n►►thtng in consistent w►th the uniform practice. his notice, as it first stood, was incorrect, owing to his wo►ds having been u.ibunderstood; and be subsequently took-ruea sureb for putting himself right. It was perfectly tree that he did nut alter the notice on a subbequent day, bet he did not feel that in doing so tie was doing any thing inconsistent w►th the unitorm practice of the. Upon the quettlon ilsat the Seeker do now leave tke Chair, Lord FOLKE.S'IONE explained, and said he would not persist In his opposition, against the feelings of the House. hIr.CA LCRA FT sal& that he,aor as he should think, assault any Mensbei consider binned pledged to anything by the step new takes by the House. The Sagalea having left the Chair, he House went Into Com mittee, Mr. Mumma presiding. The CHANCELLOR of the EXCHEQUER then said he was well aware of the objections that would be made, as well to the principle as to the details.of the measure which his duty required that he should lay before the House. He should, however, proceed to ditcharge his duty fairly and fearlessly ; and in doing so_he should have to ask the. House for their Patience, and their indulgent attention. But before be proceeded to explain the views of his Majesty's Go. vetnmentoind the grounds upon which they - concvived that the disttesses and alarms of the country required eleae :miters to be treated of, he should offer some re alistic upon a course which had been taken—not there, but cis ot: er quarters, in reference psi he conduct of Go vernment. He meant the objection which hadteeii. raised against outerpectations of relief: It was said that it would have been mote prudent If they' • had altogether ahstaiced from stating to Palliainein what their intentidas were until the . ) , were ready to bring theft measures forward. Now .he entreated the House to consider the situation in Which they should have been placed.;—and,. what *Attar test thousand times mote importance—the situation in which the country would have been placed by such a proceeding 0.. their part. lithe? had taken that course, it was impossible that the subject-could have been alluded to in the Roy el Speech. But if they had been silent upon such a subject he should be glad to know where would have been the silenc e inother quarters? WAS it possible, wit-h such a state of public feeling, with so many interests involved in distress and panic, that the Address would have been moved half an hour before the Givernment was called on, in such a manner as it could not resist, to state its measures for removing or alleviating the evil ? . He would say that they should have disgraced themselves by such a silence, because it must have been im possible that they bad not fi amed something in their own minds as to the measures best calculated to meet the exigency of the case. The country would have been justly incensed at such a delay, and the effect would have been that all classes would have been kept in a state of feverish agitation winds must h ive created greater distress and suffering than even that which had resulted from the present agitated state of the public mind; it would have increased all the evils ill a degree for which he should never desire to make himself re sponsible. Therefore, whatever might have been done by Government, or whatever measures it would have :been best for them to undertake—silence, in any case, was inconsistent with the situation of the country, and this' objection to their conduct was entirely with out 'grounds. And new, in order that the House might be enabled to judge-..firstly, whether anything ought to be done; and secondly, whether what the Ministers proposed was the fittest thing. It was evsen tial that they should satisfy their minds in the first in stance, that they could discover the true causes of the evil. Because if they did not, they would only be legis Laing in the dark, and doing infinitely greater mischief than good. And here he 'would observe, that let the measures they had to propose be ever so rigbt and good in principle, they did not desire to lead the court, 'try to consider them as an infallible remedy for the existing distresses. He wished not to do that, became he knew be should baly be leading the country into a 'delusion. But he would also lay down this proposi tion as incontrovertible :—they could not flatter them. selves, as Legislators, with' the hope of ever devising a ineasuie of perfect and infallible relief against the com mon fluctuations of trade, prices, and commercial coat-. dance. The supposition was contrary to the franie of all human society—but particularly to a state of society like that which had obtained in this country. All history lOW us, that wherever society bad existed, such floetaii dons had been almost of periodical occurrence. 'ln all countries, and above all, in those where refinement and civilisation Were Most advanced, whatever might be the nature of their-curtei4ey, whether theenetically and pectic ,Ily metallic, er partly meta lic•and partly corn temptation io inc•ease the cultivation of the soil beyond what could be eventuallyprofitabl • to the producer. This for a time increa s ed the means of the agricultural class, sad they employed their increased means in an increased Consumption, M hick likewie extended the means of ether br undies of the'community, and an increased ge hrveral tendency to speculate was the comequence. Then ,came the natural tendencyto over-speculation and an al teration in the seasons brought down the prices to their level. Alarm grew up. and confidence between man and man was lessened or destroyed. Those who had spent or tucked up their capital in the cultivation of the soil were unable to meet the demands upoti them, and their ruin was the consequence. The money' which had been advanced upon the lands, was not available to the ether classes who had so employed it, and that fluctua tion arose which created the sort of distress we had now to suffer in a more extraordinary . degree than was often known. But if this could happen in i coun try where the circulation was wholly Metallic,how much more so in one where it was partly cornitosed of paper? Because it-was well known that the effect of a paper cur rency would be to facilitate the rise of prices in the first instance, and precipitate their downfal when it 9ceurred. Bet if this evil—since in its result it was so on account of the distress which it produced anyngst all on whom it operated—was thus proitmed in such countries, he thought it was greatly aggravated, though not caused (he always wished to make that distinction) in this country by the nature of its paper circulation. He thought so, because where the paper circulation was not confined to a large denomidation of notes, it ap peared to him that the existence of the smaller species of circulation musts aggravate the situation . of the par ties from whom they issued.—They were told, indeed, that Country Bankers did not wish' for the continuance of this kind of circulation. One Hon. Member, engaged, he believed, in that business, stated that the one pound 'notes were a postive nuisance, and that Bankers wi s hed Ito get rid of them. Those Gentlemen appeared. cer tainly,- impressed with• the daticolts of getting rid of therm but they :said that every esrablishment was sompelkd to issue them in , order to keep up their cir ciulation, as long as they were aontitted into circulation at all: Now the efsct of this competition was, a ten dency to increase the general. circulation beyond the proper point, and then, by affecting -the exchanges, to drive the gold out of the c • nn ry, aid prevent the par ties themselves from b iug able to pay 'in g• Id, that . witch by the very terms ex, ressed upon tl , eir paper they were bound so to pay. laiano.her point of view this Wai. an evil, because it prevented the roil operation sir that measure of 1819, which had ant with, he thought, the tin 'monts support of tire House, and a general con ..curt erice.of favourable opinion throughout the country, And that measure provided for the entire refurival of . *this species of circulation. This, then, was nil a new prOposiiion. It only u cm to the restoration of things as they were before. He declared to Goo it was not now the political economists who were Oiling down, but th:•se oppoied to them we e the iiinov,kors. Yet what he h •d t i ropose was represented as a mie.ure that would spread general confusion and distress, drive all confidence out of the country, and preterit every man from gaining accommodation in any of his com ma r.:ial dealings. He apprehended that a inetal.ic cur rency would lather increase than destroy such confi dence, and afford mo e security to all the transactions of business? And when all these dangers and alarms were held up against the change, let them look at the effect of the present system. Who were those..mongst whom the ,male notes generally circulated? They %coo the poorer ctas,es; .pe sir s h.ving nothing but their in dustry to subsist upon, and to. provide them with sup port in times of sickness or disease. One of these per sons may have acquired by careful and industrious habits,three or four of these 1/.notes.Why to be deprived of this was hear (-Ist eakirrg ; rt was his all, and no bing could save hint firms ruin and misery.lt he had been pos sessed of sovereigns they would have been something for him to cling to in the hour of need, and a vast quarrity or human suffering would be prevented by such a change.' The B irks, too, would be strengthened in their security if relieved from the danger of supplying the circul.tioa used by the poor man. But if they lett lairn with these mars, err his hands—let disttust or al ism be created by whatever cause they may—he, being the first to suffer—he it was who spread the panic to the holders of five and ten and twenty pound notes. When they saw the poor man running to save his money, they naturally began to say, there must be something rotten in the Bank, and accordiugly went and drew out their larger sums ; and thus the panic was spread to a class not otherwise so liable to feel it, and in whom it became a serious injury and loss to the parties. Therefore. he thought that the taking away the power to issue small notes altogether would be a benefit to the Bankers themselves, as well as the poorer classes. Am I, said the Right Hon. Gentleman, proposing in this respect any principle either danrous or new ? .Am I going to destroy that which Parliament has said to be an es-ential part of OUT currency,•or that may be necessary fur the' purpese of our own commerce ? Quite the contrary ; I em only about to uphold the principles solemnly pledged by Parliament, and to place our currency on a more .steady basis. Sixty or seventy years ago them eat no prohibitiiry law, but in 1773, after the reirirmation of the coin, a prohibitoVy law WAS found to be absolutely necessary. . In . 1777; 'a still further prohibition was tound necessary—the Parlia ment not bell; swisi:d with the event to which it was 4; it t tied but tw6 years 'before. They considered the