Star. — London, England, 1822-06-13 00:00:00

0 f or , ir Ole motion-should be tarr;ect lt 'would ix pro ductive of raicchievous effects. In 181 S, when gold had attained the highest price, the depreciation of the B a nk -note had not exceeded 29 per cent. and not 42, es had been stated by the Member for Essex. His gm. Friend (Mr. Gurney) had opposed the motion o f the Right Hon. Gentleman, because it went to alter the standard, and in the same breath he said he I vJtll.l vote with the Member for Essex,whose motion wort to alter the standard. Mr. PE ARSE vindicated the conduct of the Bank a gainst the remarks of the Member for Portarlingtists4 The Bank had been quite passive in all the import !ion , o f gold, and bid merely availed itself 44 the port:mons made by the merchants. Up to the To r 1610 there was enough of gold to keep it at the e iJ price. In 1813, when great importations of corn h a d been made, and the war had been carried on on evre enlarged scale, the price rose, and so conti eled for four years. If the Member for Portarling va was a Member of the Bullion Committee—(Mr. EICARDO, across the table, “ I was not, - )—then he culd not see why it was necessary for the Hon. Mem ber to hare entered into an elaborate defence of his conduct. The rise in the price of gold had only ifocted our transactions abroad. Sir FRANCIS BURDETT applied to the Member fe: Essex what had been said of an ancient Patriot, Vincet amor Patriz !" The Member for Portarlington had not, as appeared to ::in:, treated the Member for Essex with his usual liberality. The Member for Essex had rendered a r... - at service to the Public by his motion. The 'Mem ber 'br Pcrtarlington had not denied the existence of distress, but as t'aat distress had not existed at iit::er periods when the price of corn had been equally 1:1v, it was clear that there must be some other cause for the distress. if the whole income of the country cr.? 600 millions, and one-third were withdrawn, with the remaining 400 millions, the People seetid be called on to pay the same taxes and to bear same burdens. All the expenses of the Govern ment, all the contracts between man and man, were made during the continuance of the high prices, and c:3n the supposition of their permanence. The s:lndard of value had been altered in 1797, and that tit .•:eciated standard had been made a legal tender. That was the origin of all the subsequent calamities the country. The state of things in the time (.. King ‘Villiam was totally different from the >eat'day. The Government of that day never :nade the depreciated currency a legal tender, but ptmiled those who tendered it. They did quite the re.erse of the Government of the present day ; for, t;:eligh they could not allow the clipped money to rats in circulation, they received it in payment of taxes at the Treasury. The standard of currency had been twice altered—in 1797 and 1819. The celebrated Locke, who lived in the time of King William, had strenuously contended against any al teration of the standard. The Member for Portar lington was of opinion, that the El note should have been, in 1813, fixed at Lis. It was the very thing proposed to be done by the Member for Essex ; that the standard should be regulated by a reference to the price of commodities. In the time of William all the contracts were made in the legal money of realm. The Ministers of the present day thought only of their own temporary convenience ; per saading the Bank to act against their own interests, and sanctioning their conduct by the votes of the Howe. As to the motion before the House, he ap prehended no evil effects from the discussion. Ought Parliament to be allowed to separate without taking some steps on this most important subject? The favourite solution for the distresses of the country had been, the transition from a state of war to that of peace; and that solution had long been admitted by a confiding House of Commons. But that solu tion could no longer go down, and then the distress vas ascribed to the excessive importation of foreign cora. Hence sprung the Corn Bill ; but still, the prices and the distress continued. Then Lord Liverpool imputed the whole to a superabundant produce; but the Agricultural Committee proved, that there had been only average crops. He was for a free trade, as at the time the importation of corn into the country had been the largest, the price at home had been the greatest. By excluding foreign corn, 1,200,000 industrious persons had been thrown on their parishes. The real cause had not been assigned, and was to be found in the state of the currency. The doubts as to the proper remedy were reasons for adopting the motion of his Hon. Friend. No company of merchants ought to have been en trusted with such powers as had been confided to the Bank of England, as their it terest and that of the Peblic must come into competition. If the Noble Lord could not see his way through the difficulties of our situation, he ought to throw up his office. He could not believe that the manufacturing part of the community could be flourishing while the agricul tural were so distressed. The reasoning of his Hon. Friend appeared to him to be cogent, and his facts to be conclusive, and he should support the motion. Mr. HUSKISSON explained, and defended the accuracy of his reference to the coinage in the time of King William. Mr. ATTWOOD said, that the Right Hon. Gen tleman who proposed the Amendment seemed to have mistaken the question. He was astonished at the appeal to public faith from a quarter where it had been twice violated. It was the duty of the Howe to guarantee contracts in the spirit in which they had been executed—(Hear, hear). The Amend ment of the Right Hon. Gentleman tended to commit the House to a continuance of that system that had already been so ruinous. The low money rate at which commodities were exchanged was one great cause of the distress, especially as that had followed so very high prices. That state of things would leave the national industry so heavily burthened to public and private creditors, as to render it very doubtful if it could support itself. Instead of meeting the sub ject fairly, the most wild and extravagant theories had been broached. In some cases the people had been exported, in order to abandon the land, as it had been asserted that there was too much land in cultivation. Did the Right Hon. Gentleman know that his =a line would change all the existing prices of commo dities ? In that case the measure would not have passed without much discussion. That measure he must always regard as most ruinous. The fluctua tions in the paper and the metallic standard had been nearly the same. The restoration of a metallic stand ard had proved a-covert mode of.increasing all debts • --"71r1517"111,"1""T '7 r . . ..• . • .# • ti t 4 ' • kik' and all salaries. In the thi ee staple articles of itoti, : time Lot Pirtiattlent to tnterfete *itii the stanciarciAA cotton, and wool, a similar depression had taken place Parliament bad never altered the standard. Every as in the price of corn. The Hon. Member proceeded contract had been made with reference to the to trace the a nd it really was too 'much to s ay Par. progress of the Bank circulation, contend- standard, ing, that the reduction of the quantity of circulating liament had ever departed from b.f.—(Near, beer):. medium caused by t he ca lli ng -i n o f t h e Bank-paper As the standaid o f t he countr y t he n stood , incon had operated most forcibly to cause the fall of prices. venience could arise; but if they altered it, all the ob- The reduction of five millions out of nineteen had jects of industry would be interrupted, and general applied particularly to agricultural produce; and the confusion ensue in all public dealings. If the motion withdrawing such a portion of the capital circulating were agreqed to, all parties would be in the worst con for agricultural produce, was sufficient to depress the fusion until the ultimate decision of the Legislature value of the commodity which it had previously been should be known. The return to the standard had, employed to purchase. The effect of the whole sys- however,.begun before the measure of his Right Ho tem had been, that for every £6O lent £lOO should nourable Friend, and . that measure, therefore, might be paid ; and it had made the debtor equally liable be considered rather as declaratory than alterative of to be imprisoned for the £4O he never had, as for the the standard. But at all events, a moment's sanction £6O he had received. It had increased the National of the motion would place the very safety of the State IDebt and the National Taxation in the same propor- in peril. He trusted, therefore, that the House, with.. tion. He considered it to be a measure of the darkest out the slightest hesitation, would reject the motion iniquity—(Near, hear). It was one ofmystery, as of the Honourable Member, and adopt the amend all iniquitous measures were. It was a measure which meet of his Right Honourable Friend —(Cheers). had spread ruin from the metropolis to the village— Mr. WESTERN then briefly replied. He would from the palace to the cottage ; which had destroyed not, he said, have brought forward this motion had the prosperity and the industry of this distracted he not been conscientiously satisfied of its necessity. country—(Near, hear). And the House ought in- It was the state of his health which had prevented stantly to set about to retrace its steps, and to restore his bringing .rh tedjMotion. at i o t a forwa r d tyagQ uan against tr earlier in the Session. to the country those blessings of which the Bill of The House divided, when there appeared 1819 had deprived it. The effects of this measure F were obvious immediately after its passing. The For the Amendment 194 i bla Manchester Meeting originated in it, and most of the Adjourned the e r M pa o s t t i°n Three this morning. disorders which followed on account of the reduc tion of prices. He concluded by calling on the House ' EAST INDIA-HOUSE. to go to this inquiry, otherwise on their heads would rest all the blame for past errors, and all responsibi lity for future consequences. Mr. Secretary PEEL considered there were many insurmountable objections to the motion of the Mem ber for Essex ; one was, the late period of the Session at which this great question was brought forward ; next would come the different opinions given by those Gentlemen who had spoken. The Member for West minster had, indeed, spoken Out ; he had said, the object of the Member for Essex was, in fact, to esta blish a new standard—that standard to be 14 instead of IlOs. What, be would ask, would be the state of the country whilst such a question was pending ? Would it, as the Hen. Gentleman who spoke last re presented, tranquillize the country Would it not, rather, 'introduce runs and coafusicin into every part of the country ?—The Right Hon. Gentleman then proceeded to defencrthe Bill of 1819, and to shew the ruinous effects which would iestilt from its abandonment, or from any attempt to interfere with existing contracts. He was ready to acknowledge, that a case might arise, in which it would be inctim• bent on us to retrace our steps. If he could credit the assertion of the Member fur Essex, that the measure had been destructive of the interests of the country ; that it had introduced universal ruin, beggary, want, and misery, into the country, he would be as ready as any one to urge its repeal ; but whilst he acknowledged the distresses which pervaded some parts of the country, yet he must contend, that the Bill of 1819 had kept those distresses down, and greatly aided the country in obtaining its present state of prosperity. The lion. Gentleman had called the country distracted and ruined, but he contended that instead of being ruined, the country had been gradu ally improving, and crime had been diminishing daily; to prove this the Hon. Secretary took a review of the progressive decrease of crime in the last four years, that seas since the passing of the Bill of 1819. The state of the revenue also, and the reduction of law expenses on that head, proved that there was neither a dilapidated revenue nor a deterioration of money in the country. The Right Hon. Gentleman then proceeded to read letters from Rochdale, Man chester, and other places, to shew the improved state of our manufactures. Though the profits of the manufacturers were small, yet trade was brisk ; and though the wages of the workmen were low, yet they were in constant employ, and their comforts greater than at any former time. As to the question itself, he would declare his opinion that, to unsettle the currency - in the manner proposed by the Member for Essex, for opening the existing contracts from time to time, as the value of the precious metals fluctuated, would be most dangerous ; he would rather'at once consent to open to the country again an unlimited paper currency. He was, however, prepared to support the measure of 1819, and would, therefore,' oppose the motion, and support the amendment. Mr. BROUGHAM was decidedly opposed to a paper currency. Still he thought the House owed inquiry to the country. One would suppose, tobear the Gentlemen on the other side of the House, that no tampering with the currency had ever existed.— But, on the contrary, the conduct of the House had been nothing else ever since the transaction of the year 1797. The Right lion. Secretary of State had acknowledged that a case might exist in which it would be necessary to depart from the present sys tem. That necessity, he should think, existed, if lie could credit that the country was in that distressed state which the Member for Essex described; but he believed the fact was the contrary. Now he (Mr. Brougham) was, though most reluctant to do so, obliged to take a less cheering view of circumstances; he did believe the country was in the distressed state described, and therefore he should vote for the ori ginal motion. The Marquis of LONDONDERRY said he should confine himself to the statement of a few general prin ciples. The Hon. Member for Essex had proposed to go into inquiry, not with a view of asking what remedy might be necessary, but v hether the standard of the country could be altered. The object of the Hon. Member, who had certainly stated his view with candour, was nothing less than the alteration of the standard, and if that were so, his Right Hon. Friend was right in proving that no alteration ought to be made. It was supposed the Hon. Member for Essex had turned his mind to this subject' long since, and it wag remarkable that the I-lon. Member did not bring it forward earlier in the Session. If the Hon. Gentleman's plan was adopted, no man would be able to tell on what his past and future contracts were to rest. Upon propositions like that before the House, it was the duty of every Member to speak out. The Noble Marquis could not foresee the ex tent to which propositions to Parliament were to be carried. At a recent County Meeting, they found an individual going among them to iecommend a Petition praying Parliament to reduce the debt and interest. This was a specimen of modern extra vagant propositions, and certainly it was not the Yesterday, a Special General Court of Proprietors of East India Stock was held at the Company's House, in Leadenhall-street, for the purpose of considering of a Bill now before Parliament, for consolidating the several laws relative to the private trade to India ; and also to consider of the propriety of permitting ships of less than three hundred and fifty tons burden to participate in that trade. The CHAIRMAN (James Pattison. Esq.) having opened the business of the day, the Clerk, at his de sire, read a copy of the Bill. The CHAIRMAN proceeded to state, that the Court of Directors. had been in correspondence with the Board of Controul on the subject of tl4 said Bill, which correspondence should now be laid before them. The letters which had passed between Mr. COUR TENAY, the Secretary to the Board of Controul, and the Court of Directors, were then read. In the Di- rectors' letters they insisted on the equity of giving to East India built ships the same advantage, with re spect to registry, as British ships enjoyed; and they also insisted on the propriety of taking off the duty which was at present levied on East India sugar, as an equivalent for the privileges which the Company would be obliged to give up under the Bill. Each of these propositions was rejected by Ministers. The CIIAIRNIAN said, he had hoped the important business which they had this day met to consider would have been in stich a state as to have enabled them to enter on the general merits of what had been proposed by Government; circumstances, however, had occurred, which give him some reason to be lieve that the Bill would receive certain modifications, which rendered it inexpedient to come to any deci sion at present. He, therefore, proposed that the Court should adjourn until Wednesday next, and that in the meantime the papers should be left open for the information of the Proprietors. C. Fosses, Esq. M.P. viewed the question as one of the utmost importance, and called on those who had the interest of India at heart, to lose no time in coming forward in support of that interest. Ile con tended strenuously that East India built ships should be admitted to the same advantages that were en joyed by British built ships, and that the oppressive duty on East India sugar should be removed. He did not object to granting relief to any body of people who stand in need of it, but he could not consent that one interest should be relieved at the expense of ano ther. He regretted that the East India Company was not sufficiently represented in the House of Com mons. He should like to see their interest in that quarter strengthened by the introduction of their Directors to seats in that House; and he, for one, would not be unwilling to assist in defraying the ex pense that might accrue in effecting that object. He pledged himself to attend in his place in the House of Commons, day and night, to watch the progress of the Bill, and to prevent its being smuggled through its different stages. Mr. CARRUTIIERS denied, in strong terms, that there was any truth in the assertion of the last speaker, that his Majesty's Ministers harboured the intention of sup porting one class of people at the expense of another. Mr. D. ROBINSON pointed out the immense benefit which this country would derive from the cultivation of trade and commerce with the South American States. He also touched on the propriety of form ing commercial relations with Cochin, Siam, Ton quin, and the Birmah Empire. dr. S. Dixox thought the discussion ought to be adjourned till Wednesday next. He suggested to the Court of Directors the necessity of having the cor respondence printed. D. RICARDO, Esq. M.P. spoke in favour of the most free and unrestricted trade. Mr. TUCKER pointed out the benefits which would result to the Company. and to the Public in general, if the duty levied on East India sugar, for the pur pose of protecting the produce of the West Indies, were removed. lie argued, that the duty now laid on East India sugar, did, in effect, operate as a tax on the exportation of British manufactures. The na tives of India would willingly purchase our cotton goods; but as they could only pay in produce, and as that produce, especially sugar, was so highly taxed, the manufacturer could not take it in return, and thus the native was prevented from buying, and the British manufacturer from selling. Mr. LOWNDES said, the claim of the East India Company had priority over that of the West India planter. The former could date their origin from the time of Queen Elizabeth, the latter only from the Protectorate of Oliver Cromwell. Mr. MACAULAY was of opinion that,whatever relief or compensation might be necessary for the %Vest India planter, in his present situation, ought not to be given to him at the expense of the population of India. Yet such was the effect which the duty on East India sugar produced. After a few words from Mr. TRANT and Mr. A. ROBINSON, the question of adjournment to Wednes day next, was put and carried. dna of the works of art, whether of painting stlaptirre; with which it abounds, all tend to place this isle ois a scale of grandeur far surpassing anytldnt of the sort which bar elver bey fore been submitted to public instiection, under similar ellectfin.l stances, in this or any other country. The Gentleman selected for conducting this eXtraordinary sale is Mr. Roams, of Warwick-House, Regent-street, whoa 'eels'& brity as an auctioneer, as well u whose taste and discrhninatiod, peculiarly fits him for such an important task, and whole pro‘ bity, we may add, fully entitles him to the confidence of his .ns ployers and the Public. We say the Public, because we kw'w from experience, and every daps observation confirms the fact, that it but too frequently happens, where a sale of property ap pears to be genuine, that it is in truth made up from the stocks of different contributors, and thus persons are deceived into the purchase of articles which, if they had known the sources froni whence they came, it would be their interest to reject. In the sale of whits, we have heard of the grossest deception! practised in this way. At the sale at Wanstead, we have been assured that not a single lot will be put up which is not the pro• perty of Mr. WF.I.T,ESLer, and that everything will be conducted in the fairest and most candid manner, and all will be sold without reserve. Preparatory to the sale, which, it has been announced, will occupy a space of no less than two and thirty days, a daily view of the premises, and of the property to be sold, has been pert milted. This view commenced on Wednesday, the 29d ult. and was continued till last Saturday. During the whole of this pea riod, the approach to the park, from an early hour in the morn. ing to a late hour in the evening, presented a continued sue. cession of visitors, many of them persons of the highest rank and distinction; arid, on some occasions, such was the crowd, not. withstanding the great extent and numerous apartments of the edifice, that some of the rooms presented rather the appear ance of an elegant festival than of an ordinary sale by auction. Monday se'imight, among other distinguished individuals wild were present, were her Royal Highness the Princess AUGUSTA and the Duchess of GLoucesrart, who were attended by Lady MART Doman. Ind Lady THTNNI. Their Royal Highnesses were received by Mr. BzwrtAm, who has the care and superin tendence of the property, and were by him accompanied into every room which contained any objects deserving particular observation. Mr. BeRTRAM afterwards conducted their Royal Highnesses to a private apartment,where a small but elegant collation, including fruits of the most costly description,which the garden of the house afforded,was prepared for their refreshment. Next day a spectacle of a most affecting nature was witnessed. Among the thousands who thronged to the house, and who, in their visits,were actuated by various motives, and many of whom, no doubt, had visited the manison under circurnstarces of a far different character, one groupe attracted particular notice : it consisted of two Ladies and a Gentleman. One of the Ladies had, from her remarks,evidently had the pleasure of Mrs. Loan WELLESLEY'S acquaintance in more prosperous days ; and, on entering the drawing-room, which, at the time, was crowded by a mixed assembly, so agonizing were her reflections on comparing the present with former occurrences under the same roof, that she could no longer sustain herself; and, after uttering an agonizing shriek, she was borne senseless into the air. On recovering, she instantly got into her carriage, and was driven from the Park. Indeed, expressions of commi seration and regret were heard front almost all who were not drawn to the spot by feelings of interest. On Thursday the Prince and Princess of Dessta ex, Count Moi.zez, the Danish Minister, and suite, and the Marchioness of Loenosnzase,were among the visitors. In order to preserve regularity in the admission of stran gers, none were admitted who were not provided' with tickets or Catalogues, each of the parts of which will admit a single person during the continuation of the sale. The shortness of the distance of Wanstead front town, the beautiful scenery by which it is surrounded, independent of all other attractions, seemed_to have rendered an excursion thither, at this season, particularly desirable, and thus thousands were induced to remain in the neighbourhood during the whole day ; and after they had quitted the house they were seen gipseying in the Park and surrounding Forest, enjoying those rural pleasures to which the extremely propitious state of the weather invited them. The sale commenced on Monday, and such an assemblage of rank and fashion never, perhaps, before graced an auctioneer's levee as attended Mr. Roves on that occasion ; indeed, Wan stead house is now one of the most attractive and most fashion able places of resort for the Nobility and Gentry of the British metropolis ; and those who feel pleasure in viewing the works of art and taste wiil find the most ample gratification in a visit to this noble mansion, where the property still remains on view, every day, until the commencement of the sale, at eleven o'clock. A publican in Birmingham was last week lined £lOO, for boiling grains of Paradise in his wort, in the process of brewing his ale. General Gaosvmwa's horse, Marcellus, was the winner of the Tent Stakes at Ascot, on Tuesday se'onight, and the General has since transmitted £lOO to the Irish Relief Committee, super scribed—" Afarce ilus,frons the Plains of Ascot." CRICKET. The Grand Cricket Match at Lord's Ground, between two select elevens, with Sparks and Ashby, was decided on Tues day in favour of Mr. Nicol. NICOLL. • 147 Ist Inns I.AI-267 2d Inns Mr. Nicoll won by 150 runs. BOXING. Yesterday was a grand day with the Fancy, and the road to Moulsey was at an early hour thronged with passengers. The leading fight, however, between Oliver and Abbott, was off, the backer of the latter forfeiting ten guineas.—The first fight writ between Acton and Ward.—Seconds Josh. Hudson and Tom Jones for the latter, and Spring anaales for Acton. Round 1. Ward placed a left-handed blow on the jaw, and got away; then returned, and made another blow tell. Acton followed, but Ward drew the first claret. Acton then planted a smart blow on the kidnies ; some good ruffianing followed, and at the close of a rally Acton piped. Ward placed left-handed blows alternately on the mouth and right eye, which bled, and after fighting eight minutes, Acton was thrown in a close. 2. The 'vases was taken off each of them. Acton received over his guard, but threw Ward, and fell on him. 3. Both piping. Ward thrice planted his left-handed nnbbers. Acton hit short, and was thrown heavily. 3tol on Ward. 4. After a mutual exchange of blows, they closed ; both awk. ward at weaving. Acton made some heavy hits on the kidnies over Ward's shoulder, but Ward threw him. 5. Acton was nohbed on the tip of the nose with the left hand; the blood flew, and both fell in a struggle. This round decided the fight. 6. Ward's left-handers were at first parried, but he put in three blows, and Acton fell. He could not come again, and Ward was declared the victor, in 19 minutes, without a scratch. Neither of the men were so go od as was expected, Acton hitting short and Ward not giving body weight to his blows. The second fight was between Burke and Young Gas, and terminated in favour of the former, from Gas being severely lamed by a cross-buttocker against the stakes in the 9th round. Gas knocked down his opponent by a dreadful blow on the head in the 6th round, but it was 2 to 1 on Burke when the Re• cident happened. A third fight, which lasted 22 minutes, for a subscription purse, raised on the spot, took place between Scroggins and Cooper, the Gypsey. Scroggy nuclei bustle during the first 15 minutes; but, as in the tight between Jem Belcher and the Chicken, so here, we had but the form of the man—his arm had lost its power. In the end, Cooper measured his head, and his right hand followed his left till Set oggy could come no more—Sic transit gioria Nnluii / ELEGANT GLASSES, FURNITURE, BCC.—The No bility and Gentry are invited to inspect the Ware- rooms of Cooren and Son, 93, Itishopsgate-street Within, where is exhibited an assortment of new and second-hand plate Glasses, admirably suited to every description of drawing or dining-rooms. In the fur niture department is comprised every new and els• gant article of upholstery, cabinet, and chairgwork, the prices of which are reduced to such a scale of economy as to attract and ensure the patronage of I rank and fashion. • WARD. Ist Tuns 2d luns G 2 6;-11/ A tl '"" Millgle . . , • . tJr. -•. . • , . . . • 4, . . . . • • . .r.. 1a5i....„. , ;. . frAidtg)l6 WUSE, - t•SgEL - --s. The bnittYntieenient of tie anle . bf atiethia or the "moreillieii 1 and costly effects of Wit. Toiler Peal lAwo WeLtitter, Est. at VVanstead Rouse; hal, **hit, the last month, excited i degree . 6 Of curiosity scarcely ever paralleled on any Similar occasion: The " princely splendour of the mansion itself— . -theluilel , b and Match- - les' elegance of its fbrnfture-the Variety and far-timed beauty I of itti Internal deenratiatl4omblned with the admirable taco.