Star. — London, England, 1829-05-27 00:00:00

• . - because it added to the load of debt which. in con• for in every branch of our manufactures and productive great potion of the Session of Padiamenthad prevented sequence, accumulated to a much greater amount ; industry was there last year an increase beyond the him from doing it before; and he now rose to redeem and he• thought it would be easy to prove that average of-the three preceding years; notwithstanding the pledge he had given. There was no one, be a ould the c was no reason in the measure, which was the eisoinious ;modem of some of those years. Under not hesitate to say, either in the House or out of it. one of great injurice. as could be shown by a re- these eircuntstaafes, therefore, we moat look to some• oho sympathis- d mote with the working classes than ference to the public credit. which was in a tree' thing else than:the alteration of the currency for the himself, and under that feeling he should suggest degree contracted by means of that capricious curs distress of the country. The Noble Earl has referred to the great propriety of laying on a small protecting tei!cy—first, in regard to the difference between the the years which have preceded the year 1815 (years of tax on all foreign wool 'nought into the country.— Mint and the market price; and secondly, from the enormous export, during which any man might obtain By that means Parliament would in some measure be deficiency of that precious metal itself. By a super- any amount of money he might want for his speculations enabled to lighten those taxes which more immediately addition to the circulation the standard itself was de- on his seedmple engagement. because at that time bore upon the poor. When he (the Duke of Rich remitted ; and thus the real depreciation amounted to there ex banks which. by accommodating him, mond) brought forward the present question on former two depreciations added together. He would show by ensured the circulation of their notes) and to evidence occasions. the Noble Duke at the head of the Adminis- ' contrasting the amount of the National Debt be.. of wealth which could not by any possibility sedate.-- oration had said that he saw no objection to aCommitter fore • this depreciation took place. with the debt Now, those persons . having enjoyed that species of being appointed. but no telief could be afforded ; he -banging over the State, consequently upon it, how wealth and facility of obtaining money they had no right contended that such a statement could not now be injueioes the measure had been to the general interests to enjoy, have DO right to come down to this House now maintained, and the fallacy of it could easily be proved, of the country. In 1800. when the currency was and ask that the same state of things shall be restored.in and indeed had been proved, by the Noble Duke on the not depreciated, the debt of Great Britain and Ire. order that they shall continue to receive those facilities. other side of the House (alluding to the Doke of NOe. land was 303 000,000—between that period, h ow . To that state of things, of which they require the return, folk), and others. He was convinced that all the griev ever, and 1819. it rose so considerably that at that much of the distress of the country is attributable, and antes complained of could be traced to the great ins time it amounted to sos.ono,oom—and allowing the not to the measure referred to by the Noble Earl. portation of foreign a 00l without any tax, or at least bus amount which was wiped off by the Sinking Fund. the But in addition to that cause the population of the a nominal one. From documents which he held in his proportion still remained as six to four. From 1800 country has since increased, and with it the powers hand, that fact was established beyond doubt. One large stock was bought up with paper money, and he of production have increased to a degree almost in• woolstapler in Sussex writes. and bays that the best conceivable, so much indeed that, from the improve- English wool that can b e g rown is almost unrnarket thought that the purchasers of paper money were not entitled to be repaid in a different currency. At ments in, and the general use of, machinery, more able, from the excessively low price of (memo wool. that time he should think it was not much supposed work can be produced now in one year than used That was the whole truth, and the opinion of the whole that in the space of less than twenty years the national formerly to be done in five years—more, indeed, trade—at least the honest past of it. The Noble Duke debt would have so vastly increased. He felt that there can be produced in one year than can be taken off concluded by observing. that all lie wanted was, that was cause to lament the decision which the Government our hands ix too. Notwithstanding the great increase the protection of Government A uld be extended to the came to in 1819; and considering that all parties were that has taken place in the commerce of the country, English wool grower in the same degree that it was to at the time full of the contest growing out of the bullion and of the world, the fact is, that, owing to one of every other species of manufactures. ' report. he certainly thought that they were not inn state the alternations of demand and stagnation w hi c h The following Resolutions were then read by the . manufacturers are subject to, those engaged i n tem do el take into consideration the subject with that serious h Clerk, and the statement annexed (retested to its the at present suffer under distress. As a reme d y tor t h at nets which its importance required. It was upon thepetition) laid on their Lordship: table. that we .. pounds he had stated that he originally opposed the distress the Noble Earl has recommen d e d That it appears fmm the evidence laid before the Select Com. Bill, which he considered to be an unjust as it was an im- should revert to the system under which the circulation velum of the Howse. appointed to take Into consideration the ware po li t i c one: an d i l was t h at b e l oo k e d u p on es t h e great of one pound Bank notes was allowed. Now, with of the British Wool trade, that since the year 1814, there has primary source of all the distress existing in the country, regard to those one pound Bank notes, I beg leave to been a taut. the pekes of Sout h-down wool of erne-half, added to recall to the recollection of your Lordships the pro- a tki lT i r g li ra de r w r ia a. dm ' hi a more or In " degree' of all weal of But I,e could not agree with the petitioners that the present low prices or the morbid state of the country ceedings which took 'place ii Parliament respecting ii Taw dd , A ation les befallen the occupiers of sheep farms was attributable solely to this cause. Them was another them. In the year 1826, Parliament having found the over and above that which has occurred, nearly equal in extent,' great cause to which he would attribute those evils— facility with which that species of currency could be, simultaneous with the alteration of the currency in 1119, and simest and was, created and forced into circulation—having tangoes with a general nominal redaction in price of all produce, it was, that during the rime we were engaged in war, had evidence of the evils that had arisen—having and all snicks at " amerce at titer P erinti. the amount of gas& and cattle which had been ex ported from hence exceeded any thing that .could be learnt the number •of bankruptcies that had taken That It appears from the 612646 evidence , that very large men through , nt the country in consequence of w i thout h of light lends cannot advantageously be continued in cultivation, imagined, and the revenue on that occasion expended p lace me► a price for the wool grown upon them u may enabk the speculations which the facilities to obtain cash amounted to so vast a sum as rendered it necessary to the farmer to make the breeding or feeding of sheep a constituent impose the most burthensome taxes open the nation.w hichthe smell note •system afforded—Parliament, I and principal (mime' his agricultural economy ; that the result of What was the effect of that state of things upon the lab passed a law prohibiting the circulation of such suck lands being thrown out of cultivation, would not only deprive country ? To produce incalculable distress. The p e . notes after the expiration of three years from that texileopocuelabtioantinofdtillenerdaingiogrilessr:mialli of tbe tbe mtans of ip their ot. own period. The noble Earl says that measure occasioned would enhaace to the ebonies classes the price of en! primary' titioners, under the pressure of that distress, called for - relisf of an alternative nature; that was, should their the bankruptcy of great numbers of country bankers. ankle of food, and at the same time to a considerable eaten pe e r hi m h e 1 thts island. mare than it es at present, in dependence upon foreign Lordships not be able to relieve them by an alteration Now, I beg the Noble Lord's pardon for telling em a n .m. tries for subsisteme. of the turreocy, to relieve them by a redaction of taxa- is mistaken . The banks broke before the meeting of Parliament. The fact. therefore, is, that the failure of, that die time The Noble I.- rd opposite had stated that taxes to frarms ront the protected amt evi in lees a great amount had been remitted since the closed the the banks occuioned the parliamentary meamie , and ne - rsa t it oc ap ci a i r er's M a ke : die ' from the overwhelming competition of foreign countrie s (no t degree late war. At one time the amount of the reduction was not the parliamentary measure the breaking of she the dominions of Great Britain), than the generality of proprietors stated at 18,000,0001 . at That measure, passed in 1826, was to have at another it was carried so highof integrate, produce, and are thus escluued tram the general Me effect three years afterwards, is now in operation, and or moderate protection by duty, adopted and pranisel in modern as 24,000,0001. but it had been asserted in a very of gold is the current coin of the realm. I can assure times by die Legislature of Great Britain, in respect to her cam able.pamphier, which he held in his hand (consisting medal policy. your Lordships, in answer to the allegation that Gs Th a t whilst three letters addressed to the Noble Duke opposite) , it appears by this evidence that the price of South t h at t h e amount o f taxat i on was atresent , i n h ie ., the distress of the country has arisen out of Down wool is reduced at this time to one,lialf of the rate it bore higher than in the year 1815. the last year of the war, the diminution of our currency. that there are at this In the year 1793, it is siotorious that tke various State burtheo t s, of Gird the time ot the greatest denteCiailoli of the cm. moment oi in circulation mesovereignsand Bank of Eng. aannwiwn"' aini 4 annul taxation itavv , *id" he s a me period, more than trebled upon the agricultural kiterens. . rency. That asseition the writer thus proved—The lend notes of lute amount than at any previms period amount of the revenue in the year 1815, including the that can be mentioned. I therefore beg to know in what of tea k That t ender aga r :nuance be of the present t d r ep oi ressioa s to in t t h be peke 001. popes ry and all the war taxes, was 68.000,0001. and a it is the al:eged want of sufficient currency can be found? growers or Engl and to be obliged to submit to these increallwher fiacti..n. The .mount in 1828 was 52,000,000 e a nd a These is more of circulating medium than ever there diens et the State, aggravated as they have been by the necessity *as. le it because men cannot find credit now who traction. Thei. Lot dships would perhaps dedueefrom that inspened upon the country by the Act of 1819. of paying in a me are not entitled to it? Such a state of things as that talk currency of fell and starling vides the interest ot an enormous difference th it taxation had been reduced b} 16.000 0005. debt contracted in • cur eacy of gre.tly depreciated paper. but they would he meta ken—for.if the amounts received under which they enjoyed such facilities is not what 44 ought to exist, much less be restored, in any country. ?bath Is therefore highly mordent that Parliament take into at the two periods were mra,ured by the value of the its serious consideration the distressed condition of the woolgrowen cut rency of the present year, what would be the result? . 11ttne who are worthy of credit have it, and I will of eels make with a view to their teller That the whole amount o f taxes. the properly tax in- say, ought to have it—those who are not entitled Earl HAREWOOD was of opinion, that English wool would eluded. received io the year 1815 was only 51,000,0001. to it have it not, because the facility of obtaining it im dePeeetated hi valor if Foreign wool woo huPoted without a has been destroyed by this alteration, there being no datybeing charged. By the present course. however, a ready and a fr action, and that in 182 h the amount had been person dealing in one pound bank notes now who would market g was always kept open for those ankles manufactured iii raised, not diminished , to 52,000 , 0001. and a fraction— from English wool, which would not be the case, be was an increase, in fact. of the butthens of Om people to the assist them in their speculations. This was the car-e satisfied, it the system were altered. amount of 932,0001. The merchants, manufacturers, of the distress of 1825—this the evil which Parliament, The Duke of NORFOLK thought the gelidity of English wed its Act of 1826, sought to remedy, and did in and tradesmen of Bit minden, complained of the by bad of late become noi so good as formerly. The quantity bad in fect remedy, and I hope it will persevere in 'afore- f air e to a metal* degree. sod be thought that there wasp mi dis. rest of that town, pointing out what they conceived . to be the causes of the condition into which they bad jug its provisions. Tile Noble Earl says, and says muu D ir hu t iw riee to n3 th ea s urecearrre a cm :r e a f iAla s . g. Til grievances la y been brought, and representing the means which, in truly, that nothina is more desirable than that Go- L ee d s l4Ll vernment should be able to carry on its transactions former gave way t o— their present existing distress: Though the Noble Lord altantinT andWamuscarrs presaged themselves; the their opinion. would be calculated to relieve them from by a paper cogency founded on a metaliic currency. Lord WHARNCLIFFIL, who said that it could not be denied could not. in presenting the petition, bind himself to Such, in fact. is the very species of tourney we din English wool had deteriorated to a great extent • Me wool have at present, and, from what has already oc- grower* add ' x° ll support the whole of the statements it contained, yet ntry could net but cornice that to be the fact ; tinted, we are juitified in the expectation that by its a t nd whilst, therefore, they coultnet prt t id as uce d wool guilelessly One • there were statements and truths in it which well de means the transactions of the country will be carried 11:t prod uce h " Le lia ill :gam" to tlasribrilliboers in sewed attention; and which, if their Lordships meant to expe ct t h at they should to discharge their duty to the public, they would well on as they ought to be conducted. without any of those hive the POW precedes afforded. He did net object in g en e r a l ruinous speculations, consider between this and the next Session.—The pais the indulgence in which has terms to the resolutions of the Noble Date; be certainly did ob. jet, however, to the Imposing of any new duty upon foreign wool brought the country to its present state of suffering tion was then read and laid on the table. imported into England. The Duke of WELLINGTON rose, and spoke to In speaking of the commercial and trading distress of Lord MA LII ESBURY supported the petition. the following effect :- 1 am very thankful to the nohle the country the Noble Lord has omitted one of the l ar d causes of that distress. I mean the immense ma ..ELLEN e BO rs l RO d t e l43 o7 ll could aware Noble the distrsse that ni t d rds that kis Earl for the intimation that he did not expect that I g reatest osmaasgsc should follow him through the various details into loss of capital which this country has sustained within the wool growers or the country. The growers of earaddlowo the last eight or ten 'eats by limns to foreign States wool in particular were great sufferers, but he was satisfied, sod which he entered respecting the statements contained in the petition now before your Lordships. and I am and Governments, neither principal or interest of which of so t were Ids Majesty's Ministers, that any attempt to raise the price Lordships. ignw eal quite sure that your Lordships do not expect nor desire has since been, or ever will be paid—(Heal). The for art icl eset cotton roolaliagofact ou a tsili would y sng tle i tefor at he w e that I should a.) follow the noble Earl through the die- Noble Earl has not. I say, advei ted to the inconvenience case, and not to detached ports of it, be was convinced that the cussion of such estions topics on the mete presentation which that loss of capital Must have occasioned in all reason meigned by the Noble Duke was not the cause of the pre. of a petition to this House. Fot such a discussion it is Parts of the country ; he has not adverted to the loss "" 411 " rms ° 'rd would in emu l tmlee lima allaa their Lardshi r s do pass to the Order tithe Moose. impossible that I could be prepared, as it would be which the manufacturing interests in particular have in Earls DILLA WARR and SALISBURY opposed the petition. necessary for me in the course of it to refer to docu - that wa y incurred in the decreased ex p orts of o p t mane- The Duke of RICH MOND replied. meats which, without a previous knowledge.of them factures; consequently, even in the cases where re urns A divison then took place— being requited, I could riot have at hand; but the noble of any portion of that capital have been made in the Contents . . . 35 Locd.,has referred to suhj-cts of so much interest— shape of remittances to pay the interest, the N dee Lord Nom-Contents . . . . is su' jests id so much importance to the country — that I has nut referred to the tact that that very act of payment Majority against the Resolution . —53 hope your Lordships will allow me to advert to them prevented the party from requiring any export. 'fhe d m . Several private Bille were then forwarded la their resectlvo at same length. The Noble Lord, in referring to she tress which has fallen not met ely upon the manutectuting sta g" , aDd their LDl ' dald P a ni i °urried ma aua aria " 1111111 crate disuess under which the country has laboured, has ad• but upon, indeed, ail the great interests of the country HOUSE OF COMMONS. I vetted to various remedies for that distress, none of may, incident., be tooted in some degree to those who The number or blegabeng oc ony)sufficient to constitute a sitting which. however, does he himself recommend, except vested their capitals in ouch s chemes as I have alluded not being present at Feu o' k, the lime accordingly did um one—an alteration of the state of our currency. The to, and is ho in doing so lost them entirely. The Noble Sig ibis till y . --es.— Noble Lord admits, however, that it is impossible Lord called my attention and that of his Majesty's Go mm to revert to the state of things which existed in Vet nment to the petition now before your Lordships. De T i l i te a festrlng arethe Docunieata read and referred to by the 1819,yet condemns the measure recommended by the and the v.rious topics which he discussed, adding, that A * o rg aa. la w his Speech Committee appointed in that year. I was one of those he ousted they would receive our consideration. The the last Right Y u "1"18 elbtdigaidimg Ilamur ttr alls peri o d Ex henad daring who sat on that Committee, and which recommended Noble Earl may rest assured that his recommendation Penny Duty was real, lesalP Wea w Imported fro m S I . in that year the resumption of cash payments ; and will not be neglected, that the whole subject shall be P a d" w i le* that Duty wa• reload to One PsnnY• in defence of that Committee I must say th .t the carefully considered, and that, if he can suggest any Tears beginning the nth of Jamey, when the Ditty on Foreign Noble Earl is much mistaken it he imagines that thing which would tend in the slightest degree to amen Wool was Sepeoce. that Committee did not calmly, dispassionately, and hot ate the distress ol the country. his Majesty's servants . Woolleos Total impartially. deliberate and decide upon the evidence will not withhold their advice for its adoption, nor hesi- Pieces. Vales. 1 Yards. Vales. V at ae.• declared produced before it, and with the utmost anxiety to do tote to come down to Parliament with a measure le . lu Valle. aMIN , lIMEN 11 justice between the public and the public creditor. The commending tbat it be carried into effect. last 1591/9 1 S 7 6321713 603162 131740 6463924 Noble Lord is also mistaken in supposing that the whole Lord KING (Assented, that the existing Corn Law s 18111 17052411 56064 8432/1 711673 160507 14814173 • tit greater proportion of the debt he related to was con- which the Noble Duke supported, would ;move is check ! M .., 16959 " 4857277 $1353 646511 1299711 5634471 a, acted io a depreciated currency; but. even if it had upon the intentions of the Nobie Duke to give th e -- 1—.2°1 " .... ' 1 733 6211566 133327 6041411 been. good faith to the public creditor requires that it people cheap provisions. 66116909 2146901030225305159,917 560551 21629479 shall be paid in the currency cf the country. The fact is, The Earl of CAHN ARVON replied. however. that the state of th e alteration of the currency WOOL TBADB. Years when the Daty on Foreign Wool was reduced to On e P enn y : L has not that effect upon the country which the Noble Lord The Duke of RICHMOND rose, and said that be ' supposes. The restoration of a metallic. currency has held in hi, hand a petition from the I woo -growers of the Pieces. I Value. Yards. Value. 1 W at Tina nothing to do with the distress which now unhappily county of Gloucester. In consequence of numerous Valet. I Value. I . crisis, and whic h I shall proceed to prove. Notwith- petitions having been presented to their Lordships both , standing the tepeal.sinee the war, of takes to the amount bons Scotland and England, complaining of the great 111214 '17419115 4 7 1 1126 1617746 nail 717938 143303 6194921 of 27.000 , 0001. (a heftier nominal or not I shall not • grievances which existed in the wool trade of the cough- tau t 53066 7 doer: 64 404235 121375 4992909 SOW ttlecnse) , the plain fact is, that, at this moment, the tip (and he owed it in justice to the petitioners to say th a t 1898 11119146 439361 540735 1745257 5177861 611211453 517534 143053 5063975 revenue produces more than it did in real currency in the vomplaints sere but too well founded). he had given • given the time of war. This I take to be a proof of the increased notice that h e should brio* the question before their 7029664 117362641 90144 573166 11519674 prosperity of the tenuity; but it is not the only proof, Lordships' notice. The important business, however, t Year of speculation. - From the above statement ft 'pipes's! That during the Poor Years. 1821, 1822, 1125, tend y e a,. 1824, when the duty on Foreign Wool was aspenee, Au di ti e tta ßri t l d isb urin W g o tte le F n ou s eqmil r Years. "l l727•lll26,iiirt,anl 411341"134 I8:4 When the duty on Foreign Wool was One Penny. the British Woollies exported were 96 .023.43 Bring a decrease In the period of the Penny Duty of 4391" yards, ur nearly Fourteen per Cent. And that during-she Four Years, MS. 1826, 1827, Piece% and 1828, the number of Pieces *sported were ..• And in 1021, 1882, 1923, and 1924 ... ..• 6A54 7 1 ; Being an Increase in the period of the Penny Duty of 17304 Pisces, or rather more than Two and a Half per Cent. Average Report of British Woollen Manufactures, competed by the Heal and Delared Value, during the Period of Four V ein of the Sixpenny Duty's existence, as compared with the Av ail 4 of those Four Years wince that Duty has been reduced: Average of Four Tears, comprising 1821, 1822, 1923. sod 1824 ••• 137,362 is Ditto, 1823, 1886, 1827, and 1828 ••• 4379,91" 19 0 Whisking an Annual Decrease on the latter „ ar17,450 j • period of ... Auregate Number of Pounds of Sheep and !Amin' Wool (gr e w in each of the same period, of the Nu:going %tag.: INV ...... 34,115 lbs. I 1555 1115! . 34.1tOll 11116 lea 11114 1g.v1r4.545 134,740 154,740 Showing as Increase during the period Dirk. last 2.0.84054‘ Four Year. of or about 1,368 per Cent. Aggregate quantities of Woollro and Worded Yarn (im Yarn of Wool orWorsted mixed with other material.) g apm - 7 1 in each of. the .ame periods : 1821 ...... 17 678 lbs. I 1813 ...... 76,961165, 1822 ..... 31,078 1826 18'23 1324 Showing au Increase during tie 1.41 Four Years of 813,411 i lba or about 935 per cent. Aggregate number of Pieces of Clotho of adl Sorts Eipanyij each of the sante periods : '.825 1143,954 i 900.343 1621 ...... 375,151 lba. ISSN 1543 1834 1 ••• •• • 3 $ 4 0.1 1 11S• I IMO I alg7 ...... 370,1130 1 ...... 534,001 i 1,537,7431 1,417,41111 1,417,418 140,3251 I Showing • Decrease in the period of the last Four Tsetse 140,3251 livers, or about Nine per Cent. Aggregate quantity of Wool Intperted in each period of Few Years of the last Eight : 1921 16.632,025 tbs. I 11125 43.795,211 1922 1523 1524 77,640,744 119 117,719 77,640,744 Increase of Wool impacted spasm ente ric, of the lair Four Years of the last 41,47 um Nett,' as compared with the Ant Four Years of the mew period ... Average number of Pounds of Foreign Wool imported in each Year of the last Four Years of the last Eight, and of the Ant Ermar of the sane period Average per Year, fug 18111. Is2ll. ICU, and 1824... 19.41006 1813, 1816, 1827, and 1988... 29,779,4271 Foreign Wool imported in the Year coding Stb of Jarmary, 1629 30,141,1191 English Sheep and Lambe Wool extorted in the Year eliding Sth of January, 1829 1,669,181 Proportion Feeeiga Weal imported, eighteen ' pounds and • fraction, to cony one pound of Rap lish Wool 'sported. English Wool 'spewed (including Woollen and Worsted Yarn. and Yarn of Wool or Worsted mixed with Giber hlaterials), to the Year iodise stb of January, 11129 .. ... 9,106,110 Proportion of Foreign Wool imported, fourteen pound. a fr.e dun (one-third), to every one pound a &gbh Wool and Woollee, and Wormed Yarn exported. THE EVENING STAR. LUN I/UN. -.IMP ..- WEDNESDAY. MAY 27, 1819 PRICE OF STOCKS AT FOUR O'CLUCIL Boob Stock Sit 101 India Stock 230 3 per Camas& 671 / India Ono& 53 4 3 per Ct. Cats. Silj 6* Old Annuities . 3/ per Cent. ISIS, 96/ I .11000 Ricbcq. 814566 7 11 3/ perC.eut. Red. 96/ / 1500 lktte 66 7 5 I per Q. New. 1031 I. 1 .11011,444 A'Suu Ditto SS 7 1 titer Cent. 11116, 104 31 Consourcial Script 31 3 Advertised Loos sti.o.llll 6.16 Cooook for Acet 571 1 1 PORRION FUNDS. TWO tYC1.444:1L Brazilian lkis.s pO. 57/ 91 1 Porte'. Bds./ip C. DoAaxslll 71 61 71 1 91 Do. A«. 461 6 • Seiner Ayres 11.15.41 p C. SS Pram Bd.. 11152,140.1051 4 • '010011440 Ikl..4lporCt. Russ. Eds.lllsl, S p Q. as* Do. ileads.lll64, Do. Acct. 961 Do. Apt. 16 Spanssit 844 5 p 0.91 BRITISH AND FOREIGN SHARES, TWu O'CLOCK. soma& PAID. 100 100 4 31 10 35 1 So 471 40 194 so 10 As plo Melina Ditto Sobociiption Bear Ahab S! • 71 SI IS 1 1 4i 10 Ditto Natkoal British bass United ►lealeaa neitlia Gas The speech of the Duke of WILLLINOTON, last night, on the public distress, must prove highly useful to the country at large. It has been exceedingly well-timed; it exhibits the true causes of the existing depressine; and, above all, it bolds out the promise of a deliberaie . consideration of the present state of the country, • ith a ' view to alleviate the distresses which prevail. Theft have been many remedies offered by mummy politicians fur the relief of the people; each politician haviag his favourite theme; the principal of these being an tare. stricted trade in corn—a total change in the currency —a sweeping reduction of taxes—an adjustment or cmninutation of tithes—an altered state of the poor taws—emigration, and numberless others. Very likely, the present state of either, or of all of these, is capable of alterations for the better; but to none of them are the occasional and temporary distractions of the mamas& taring community mix ascribed.We beg to draw partici. lsr attention to those passages of the Duke of Woo umorou's speech, in reply to one delivered by the Earl of CA RNA avow, on presenting the petition of the Merchants and Manufacturers of Birmingham. He said, that be• fore the year 1215, any one might obtain money for ay rind of speculation, however wild or extravagant ; lea conrequendy,speculation aas carried to an estreme that well nigh destroyed the country. The grasping spirit- - the impulse given to ruinous speculation—his Grace apprehended, was the real came, or at least, the Ore pal cause, of the present distress of the country. fis• sides, let it be considered bow much the population d We Kum not si the m long jest. place rural 01" tl bean well F added wish t but *i itbelf e froth* to cn queltie tub c in thee cussioi serviai wicke t Copy ti reseed which move, The 'i•ed Dr the roope, aim Man )irit a