The National Register. — London, England, 1811-07-14 00:00:00

as did he even disapprove 'of that system, he should yet feel it his duty to support that 13i11. He looked upon it as a measure of justice to a great pot tion of the people of this comitry. The. No lo Lord then went into the question of depreciation. of our paper curcency, . He thought that it bad not . been fully made O :t. Earl GRaY began by adverting to the doubts that seemed to prevail respecting the nature and limits of the legal enforce nients of the provision of the Dill. The Noble and Learned Lord upon the Woolsack had not, in his mind, succeeded at all in removing those doubts. If the landholder could not distress his tenant after this Bill, were not the other ways of legal en- . forcement of rent open to the landlord to resort ? Did not the' Bill leave the landlord all the powers unimpaired be before had of enforcing his rent, save that of distress ? If a tenant be taken in execution for non-payment of rent, how does this Bill enable him to stay that execution ? If this measure be adopted, they could not possibly stop there. 7 Hear ! They must go and make batik notes a legal tender, and enforce them as sucha And how was a scheme of this sort , different from that of the French assignats? Was it not in both cases forcing a paper circulation ? But the most unaccountabe provision of the Bill was perhaps that which excluded its operation front flreland—( licur country where payments in specie are exacted by different land lords, particularly towards the North of Ireland, every day, and there, where the practice which that Biil was intended to put a • stop to was most frequent; to that country it was proposed that this Bill should not extend. In adverting to the question of depre ciation, he confessed that he was niore surprised at the mode in which the Noble Lord took to prove that there was no deprecia tion, than he was of the opinions of the Noble Lord upon that subject. The very cheapness of the ankles speci fi ed by the Noble Lord were proofs, rather of the mischievous effects of the Orders in Council, width had cut up our trade by the root, than of the paper currency not having degenerated. In concluuing, be bested leave to set the Noble Earl right, who had fallen into a mistake in supposing that he (Lord Grey) had retracted his opinions respecting the policy of the vtr to the Peninsula. What he had said was, that the successes had been expected; but even at the time lie acknowledged this, he begged to be dearly understood as not retracting or qualifying any of his opinions respecting the impolicy of successfully copuig with France single-handed, in the means of a great military establish ment. Lord Lotunettrinee rose to move as an amendment, that the judges do attend this HOuse to-morrow. Lord Gattivit.LE said, that from the doubts thrown out by the Learned Lord on the Woolsack, it was desirable to know the legal consequences following the enactmciit_of the present Bill. After'a Short conversation between Lords Eldon, Lauderdale, and Crenville, the Amendment was 'negatived et ithout a divi sion, and the House then divided on the original Question. For the third reading, 43 ; against it, 16—Majority The Bill was then read a third time and passed.—Adjourned. INA', REGISTER. 437 ed the Bank Restriction Act, and acted with Mr. Pitt pn that occasion, would now have given their sanction to a conduct which was likely to be productive of the very evil which they, at that period, so much dreaded, namely, a double price. Mr. Per ceval then went at length into the evil of Lord King's system, if adopted; andobserved, that the Legislature who had made it necessary for the public creditor to receive his interest in this paper, were bound in honour, to suppOrt its credit. lie trusted the odium which would attach to the conduct of Lord King would prevent others from followieg his example. He should regret extremely marking the bark note a legal tender; but should such a system be adopted, that must be the result. Some Gen tlemen had compared the issue of bank paper in this country' to the issue of assignats in France; but how was it like it ? the amount of bank paper in circulation, two years ago, was 25 millions; at present it was only about ee millions. In less tha four years the assignats issued in France amounted to one thou sand millions. So much for the resemblance of our bank paper to the assignats of France.—After a number of equally pertinent remarks, the Right noo. Gentleman concluded with moving `that the Bill be read a first time. Lord A.HAMILTON said, there was one remarkable principle that pervaded the speech of the Right Hon Gentleman, namely, that the interests of the awl: :Led the Government were ideeh fied, and that the peopie if they suppvrtcd rare must support both. To this he lied very strong objection, as applying t• , any h' of men, but particular te that which we so favoured, and which he considered as wholly unworthy ro be the depositaries of such a confidence. Upon these grounds, as well as upon many others, he should seize every opportunity of giving his must strenuous opposition to the Bill. isir. Wlil rBItEAD declared his satisfactioe at the opportunity which was of erded him, by the formal manner in which the Right Lion. Gent. (the Chancellor ot the Exchequer) had nitro ductal the measure in discussion to the consideration ot the House, or expressing his oeinion upon it. lie felt inclined to enveigh against the manner in winch the Right. Hum. Gent. had accused a person, meaning Lord Grenville, of having arr.igattei to him stir' the possession of all the stetesman-like ties and all the talent which was to be found In the country, amid of having ex pected that every one would bend their knees to his superier wisdom. lie (Mr. Whitbread) did not expect that this insinua tion would h ,ve coax from a Right Hon. Gent. who had him self bent his knee to that same Lord Grenville, whom he had most anxiously solicited to take the heloi of that government which was how so impotently and so improperly conducted-- (Hear, hear 1) A Noble Lord, under whose auspices he was most anxious to plate himself, and whose talon, he relied for relief from the dangers and difficulties with Willa\ he was sur rounded. With respect to the Bank restriction, non which he had already gine. ilia opinion, he N% firmly conviiiced, ti um re ports, he had himrd in tithe . pieces, as se ell as in that House, that if he was nut removed, ehe.most st rents and incalculable injuries would result to the country. The Right. Hon. Gent. from the system' which he followed, seemed in fact to convinct that Bank paper might be screwed up like the barometer, and called fire weather or whatevtr other name his own interests migh: require. (d laugh.) Deaf to atl experience, the Right Hon. Gent had taken the French National Aseenibly. anti Robespierre ter his - guide, and like them went <an step ley step towards the final ruin of the country: lie (Mr. Whitbread) called upon the Howie to recollect the aev'gfluis, astd the Com/onion-tapers, these did their duty for the tune, as did the bank mei-, i,l England; hut as it had been with the former so it would be with tl'e latter.. Like all violent pruvocatives, the momentary effects passed, the disorder wouid return with double violence; with 'the ing conviction that thesame miserable physician still remaintd to try new experiments,_ and by new and equally mis •r:%tile tape dirpts to lead the nation by.skiw but certain steps to destructio n . (Hear, flair !/-1 - le did not know what period the Right Hon. Gent. would fix for the stood reading of the Bill, but he thought it desirable that on that occasion the attendance of Members should be as numerous as possible. He should ask, whether it could now be said that Bank-paper had nut been depreciated, and if it was still assertedehat it was not, he would contend, that the measure now proposed, was not alone unnecessary, but dan gerous in the extreme. . The tenant would be set against the lindlord, told coin of every elenoinination would disappear from circulation, and notwithstai.ding all the nottrums of which his Majesty's Ministers tyd•to boast, it would be found impossible .to find any adequate cheek to the overwhelming current of destruction which would be the inevitable result of making bank notes a legal tender. Under these circumstances, he felt it his duty to give . as decided a negative to the Bill in the very first stage as ht would to the opening' of Pandora's flux, if that e vent • had i.ot long' since, un;sirtUnately for the world, taken place; 'and "no other lan felt aispusedehe would take t he sense a Mr. tOilUtt y and if no uthgr gesitlek nan felt dibixon:Livhe W0U14.1 WOW U I the House on the subject. j'IYANLY said, the question was, what lies brought the y into this ditlicuisy auswet.etihe Welt .141.0ti..Gent. FRIDAY, JULY 12. Lord STANHOPE laid before the House several Resolutions for the consideration of their Lordships, to regulate the entries made at the Bank, and to prevent the forgery of Bank notes. His Lordskip observed, that the Bill which he had recently brought in was merely to keep of the flies and insects, aTal wag only the commencement of a plan which would pruve of xuuch greeter advantage to the public. Adjourned to Dficindoy. HOUSE OF ( OMMONS. • TUESDAY, JULY 9. LORD S TANHOPE'S BILL. • Mr. PERCIVAL stated the great reluctance with which Mi nisters had adopted the recommended measure, particularly at the late period of the Session, and. explained at considerable length the causes which induc , d them to choose the course which, they bad pursued. In the first instance it had occurred to Ministers that Lind Ki g's example would n4,t be followed; but when afterwards it was found that he was supported and panegyrized by those who arrogated to themselves all those qua lities which demand admirati ti and distinction, it became an imperious duty to prevent as far r oisible the mischief to the public, which might otherwise ' or had any wish r ing right ; but h, consider him as conceive any_ act 1 country-4Hcai, for Parliament to tern which had hi stattggicts sod otbvrwise be the result. He had no right, to say, that Lord King did not feel himself act- ie (Mr. P.) ninst be allowed to say, he did not acting very commendably. Indeed be-could not of an Indiv idual more pregnant with peril to the r, Heart ).•0t One Where it was more necessary to interfere to coutiteract theftrvil. It was a sys- hitherto Seen adopted only by Jew pedlars and he did ;lot suppose that those wta hid support- ~~1