The Statesman. — London, England, 1815-03-03 00:00:00

s tone Meeting, nor had he desired any of his tenants t o attend : but if be had been there, he would have Ife:r4ml and prayed the Meeting, tin his knees, to hear the Noble Earl, though he was satisfied that no thing would have been said by that Noble Earl which could have convieced them. the Petition was then ordered to lay on the table. Adjourned. ITOU.4E OF COMMONS. Mr. POLE CAILEW obtained leave to bring in a Bill to amend the Aet respecting thrissalising of County Rates. It was brought op, and after a few words from Mr. SHAW LE- E% RE., was read a first time. Mr. BA itCLAYpresented a Petition from St. Olave's, South wark, agalmt alte ring the Corn Laws. lie observed that the people were so far from being indiferent to this measure, that if time were given, the table would be loaded with Pet': Mr. MELLISH presented a similar Petition from St. Luke's, Middlesex, signed by 580) persons, within the space of eighteen hours. Mr. HILEY ADDINGTON wished to say a word or two on a matter that affected the credit of the Office to which he was attached. Last night the Honourable Member for Bedford had stated a case as corning within his knowledge - ,—[No!]—However, had certainly stated it confidently, which involved a charge against the Secretary of State for the Home Department; and he put a pointed' question to him (Mr. H. A.) concerning a Portuguese, named Car. tile, who, it was asserted, bad been sent out of this country because he had no passport signed by the Am. bassador, M. Souza. His impression at the time *as, that no such case hid occurred. He had never ifeard'of it, and it was just possible it might have happened during some temporary absence of his from his official duties. lie bad enquired of his Noble Relation (Lord Sidmouth) if he had given any such ()crier; and the anew* was, that no such case had occurred, and that thet name was unknown to his Lordship. He had also looked ,through the office. hooks, and found nothing of it, from the time that Noble bird had held his present office. Another question was put by the Honourable Member, as to shme rule in the Home Department, by which no Portuguese was permitted to monde in thigatuntry, titi provided with passports signeetby the Ambassador: His answer to this was, that no such rule had existed or does exist. Mr. ‘V HITBREAD said, .he fetred the Right Hon. Gentleman had dot enquired far enough. II (Mr. W.) had the written paper to which he referred, mid he only desired to be set right. He had merely made a mistake in the date. It was necessary to re fute it, to refer to the °Mee books for some time previous to the Noble LottPs coming, to the office.— He did not state it as a charge against that Noble Lord, but against a rule in the office, if it rtioted.— He had alluded to thd partiiiiter case of q Portuguese Gentleman, who had been fortherly Charged'Affairds at Stockholm, bat had become obnoxious to the Mi- Aster Count Funchaj r Hewes informed, that he was. sent out of theemintif, feem Fhlmouth to Lisbon, by the packet, when Mr. Ryder was Secretary of State. Hd went to the Btzils from Lisbon, of his own accord, to state matted to the Prince Regdrit.— cossdect appeared satisfactory, and be was . ha. st!ndred'' with a petOon for hid services.--This was riot disproved, and he hoped the Honourable' Member would posh his enquiries a little further. Mr. 11. ADDINGTON observed, that the Ho tiourable Methher pressed his enquiry so peittted y upon him, that he had to conclude that he made a ch trige against the present Secretary of State. Mr. WIIIIIMIAD did not mean that : but if he pnt it so strongly, it web only a compliment to the assiduity and knonledge of the Right Hou. Gent. in his own department. EAST Mr. WiIiTSIIF.iiKEA'AWas reading some ex tract*froni a Calcutta Paper, when To SPEAKER reminded him that he was irregu lar, uhlesq he intended to make some motion. Mr. WALLACE said, he was confident that there was every desire to protect the inhabitants of India in the freedom of their religious worship. CORN. Sir JAMES SHAW presented a Petition from the Inhabitants of the Ward of Cripplegate Without.— Thiv Potiti (((( , he said, proceeded from a meeting 'tell in the parish church on Monday last, and upon the snhj,•ct a that meeting he begged to say, that it was mute numerously attended than any meeting of a siniil.r nature in the memory of man. At this meeting no party spirit was shown : all parties, all professions bad but one object, namely, to oppose by temperance, and yet with firmness, a measure which, in their opinion, would be injurious to the interests of the country at large. The Petition which we agreed to on this occasion, and which he now had the honour of presenting, in the short spare of three days was signed by 4000 persons— [Hear ; .and a most important feature in the Pe tition wit, that the individuals signing canna forward in the nloit irpototrneous manner; no invitations' . were nied—Pieuri] ; no person went round , to so. licit signetirrei ; it was announced that it was )yisc at the Committee.:room, and the inhabitents'came int the manner he had described, and the whole vitat , conducted to its conclusion iu the most orderly and temperate manner. The. Petition Mats received, and ordered to lay upon ' the table, Mr. PROfiIIEROR vresented another from Bris tol, ,signed by forty thbusand : more could have been had : but no time was to be lost. This Petition prayed that no alteration should be made until the. effects of peace on our commerce and manufactures.' should be ascertained. He thought that the Legisla. ture would chord ample time to the public, before they came to a determination on the subject. He wee sorry to acknowledge that he had been mistaken in this, from the misplaced confidence in the promoters of te measure. lie could hardly hare thought that those Gentlemen *could bore run a race with the Pe titioners. Respecting What , was said of discouraging popular clamour, he thought that, except in extreme eases, linguage of this sort rather unbecoming a', Representative of the people. Soso Would mon. va the people' to petition about peace and wit, and other affairs, hot not on this sebject. Ho woe als'ays degroos to known the public Opinion on lold portant subjects ; it should find its vent in that House, where it should al aeys meet with consider*. tiou and sympathy. On the price of bread, the peo ple spoke what they felt. Those who, like himself, had cantessed the inhabitants of a great city from the I THE STATESMAN. garret to the cellar, could not be ignorant . of the the Noble Lord thought it necessary to call' ilitPsitra' wartfith of iiitefac witich th e tOkolifriwltsilyw stibiOct ieotiiSit'OT the House was the SilverFokent. This like this. It had beiii said went- alloWed to bwahoot 3s. in thW-ribland below ,tic seutiMent was changed : halls* Could Alert that* 'Standard: value of sliver. He should be glid to such wee not the cast iu Blia t ill• 1 li'Wow 'from the Right honourable Gentleman whit- Mr. itAtur PAVES said, that in toting against ther the Bonk were prepared to replace them accord the proposed measure, he 1214 mot spen4t-histrwirmstiu , inttosttiW rent nine . ot tbet etentlitYdl-4t worlds • now- do so. Thr bad already re- Litman (Mr. Grenfell), and now repeated, th it i t dust be deferred to the period when the wlink ctn. rehey could be finally settled. The Iluciumna of the price ha& nothing to do with the circuhn i ,,, of the Bank. The circulation of the Bank hailp eat . ly increased, while the difference of value betwep, Bank piper and gold had greatly diminished. 1, July, 1811, the Batik notes in circolition^s— timents so much as he did those of his constituents.' opinion they ought to do , ley 1y Perhaps this was the only quettirmin.veftechleterettld etiortnous prate frotn the issue of these ever submit en opinion of his pwu to that of hieconu 'Tokens; and they were bound by every rule of jus stituents. Alen to replace them at their full - value. At all, Petition received. eVellte, this was not a state in which - they could re Lord MILTON preseafeil d similit'Petkion from 'Main long. This' pbint of 'Nicene Weenie now a Sheffield, signed by 18,000 persons. tritsBon as . to the price of the prinvary artible of tie Sir JOHN NEWPORT moved for an account of necessaries of life, which all Weald illostlebsi leo sums paid by Government in Ireland, on account of titinitely blended andconneeted with the currency of law expeuces during the' last seven yeari. the country ; for it could not be denied ' , that if the Agreed to. 'currency were at its full value, the prime! corn, vrtNtiovi TAX. instead of being at /30s. as it war no to be Lord MILTON said he was directed by his con. , fixed, would be at 621.; and in proportion as the stituents to put a questionve two to the Chancellor restrictions were continued, in the same proper of the Exchequer, respecting the Window Duty.— lion would the difficulties increase oh the other points, First, whether it Was to apply to factories, in which , viz. the price of all artielet of necessity. So long as (cotton manufactories particularly.) there was so the Bank should be allowed not to pay in specie, large a number of windows more then were wanted and to fix the amount of the value of gold at 41. or merely for light for ordinary purposes ? Secondly, any other sum, according to their will and pleasure, whether those large buildings called Cloth Halls it was evident' they held in• their own hands the were to be liable to the tax ? They had norhttheeto wens of keeping up the prices of every article of the been so, but it was feared that it was now intended . ; necessaries of life. There was another point also, to subject them to it. !which was worthy of observation. In the last year's. The CHANCELLOR. of the EXCHEQUER account, it appeared the country had paid for Et-. observed, that the subject would come on regularly chequer Bills upwards of 2,000,0001. Before the In the Course of the evening; but he had no difficulty I restrictions took place, Exchequer Bills were pay. lin answering them. He intended to propose a modi- ;.able on their own account at the rate of 34d. pee *cation respecting the factories, which would dimi- ;day, and they were a negociable article at that rate; Dish the charge. The present resolutions included they were now become, on the contrary, a mere the Cloth Halls, but, under the cireummetieesohat bank-note, and the public had paid 2,000,0001.• matter might be further enquired . hito-. I merely for exchanging one piece of paper-for another. Lord LASCEI.t A had received applications re-1 He did' not mean to say the Bank could help it; be spectitrg the Cloth Halls, which being large build- did not wish to cast any reflection on them ; but he ings, required great light : there were two at Leeds, thought the House ought to endeavour to remedy: the ' one at Bradford, elle' at. Ratifier, and one at Hud- evil as far as was in their power. It'wai in vain to.I j dersfield, almost covered with glass. They. were talk of the averages of corn, or any other articlfyl rather markets than warehouser, as odds womanly till the system of the currency was completely settled.: deposited in them *hen undisposed of, from one Some years ago he had proposed that the Bank market day to another. , should have no more profits till they had restored The CHANCELLOR; of the EXCHEQUER and made good the currency of the country; but ! hoped the Hon. Member would give him particular ! that was over-ruled, and the circumstances he had information the subjeeti • already mentioned had been the result of it. It was, BANK Itt.STRICTIOV. al 100, , in his view of the subject, a most important Lord ARCHIBALD HAMILTON: cell/Minced point, that the country was unquestionably in greater by apologisiog for bringing forward a WOO which difficulties in the moment of peace, than during the there were so many Members morn capable of treat- course of war; and he saw no way so likely to draw' ing than himself. There was no greet' qiiektion, it out of its present situation, as by instituting a fair whether of the corn trade or any thing Os/fin-which I enquiry into the situation of the'Bank, and the re this was not in some desired ittrtatred. The Right, lation in which it stood as to the various bearings. Non. Gentleman opposite had appeared" to Ma to I which the restrictions had oh the most essential late. - ' undervalue the importance of this eubjekt. As this rests of the country. He begged pardon for so Longo Act was just about to expire (on the 25th), his ob. ' a trespass on the House, and concluded by moving,' ject would be, an ehquiry whether a contineatiou " Thir a Committee' be appeihted to examine' into' of the restriction would be advisable " of net. vid! and to state Hie total amount of the issues of paper great importance originally attached toittifettialetre : made by the Bank;. whether they are in a condition' was well known, acid he could not help cohltestitig tb resume cash payments ; and whether they were' it with that apparent indifferencete prekinti wMt Itaking any steps to enable them to do so. Te• en seemed to look at its *continuntiee oft tnefeibittir quire into the connection between the Bank and the of course. The mode in which heiersivred it' teas, r Government : also into the profits made by the Whether the Bents dialer did net' deekettitaceelitiii I,Bank, and whether they were willing to replete the ance; whether the Bank had mitmr,ltill wlietiertkey , tokens they bad issued, according to the legal stand- I • roia, ..._ Aneervei to 34 millions and a half, and the exchange on V itt , 'under 18 At present,- the Noble Lord elated the amount in circulation to be 31 million iae s l ,but a thenor ivie4reyr bisliefeA" that it was about 28 millions-and a half— ,The exchange on Hamburgh, which was th en h er , 2 1, oral now above 32. He should now state his Nasal's itfor supposing that the practical resumption of k..s; 1 1paymente by the Bank would take- i iatistant period. • If the peace with America had takea ;place at the same time as the treaty of Paris was con. Iduded ; if we had not been under the ne cess i ty ef 'keeping an ariny on the Continent to support our :11. !lies ;)if welled not been obliged to send a fleet and army lacross the Atlantic; if our foreign expenditure hid sot necessarily been. so great in the present yea r , h e could have no reason to doubt, but that the exchanos would hive been settled so permanently in our favou r that the Bank would have been able to have resumed , cash payments within the time stated in the law,—;i x months after the conclusion of peace. Th e (1. changes had turned so much in favour of this countly, in spite of all these drewbacks, that he had every reason for supposing that such would have been the case, if it had hot been for the circumstances he had mentioned. In spite of all these circumstances, the exchange with• ifaMburgh, whlet, in January, 1814, ! was 28,in October was St 'Gold, in doubloons, wa s in Jan. at the rate of 51. Kis. ' whereas in Oct. it was but 41. 2s. Silver, which h ad been at 6s. 11d. the ounce, had fallen to ss. 6d. Ile-could-have hardly be. lieved that any extension of commerce would have produoed so great an effect upon the exchanges in ao short time. Since the examinations by the Bailie* Committee, the prices• of gold had become higher, and the exchanges more unfavourable than they were at that time. He should now statethe foreign mete ditnre of . the country for some years past. In 1811, it was 15,182,0001.; in 1812, it amounted to 18,533,0001.; in the yeti- 1813, it was 2 2,931,0001.; but in the year 1814, during which the country made its greatest exertion, and such an exertion as was) never before made by any country, our foreign ex. .peuditure was no less than 30,264,0001. If, then, this enormous foreign expenditure, made by the Country during the last year, could have been step. :ped immediately after the peace of Piri s , th ere cou ld ,have been bet little doubt, but that the exchanges w'ould hat* been so greatly and so permanently is our favour; that the Bank might have renamed its payments. An Honourable and lamented Friend of his (Mr. Thornton) had stated, that the opinion he gave on the Bullion question would be mach shaken, iireverhe am the exchanges recovering before tie resumed its payments. He had directly take .. Op that challenge, and stated, that it the exchanges did not recover after peace, uuless some very uousual circumstances should take place, his opiniou would be altered. He was now convinced that the Home, by a compultive view of the present rate of excite?s with the former, sad of the price of • beF .• got* Ileseesst6 gall lakinlieps to sheet the distontin Mice or tho rti. ' and of silver : also as to the purchase of gold," &c. mkt it formerly bore, would believe, that be was strictions ?—The higheit late return tits 31MIllioni. 1 The CHA NC El.f.tlit of the EXCHEQUER at- 'not too sanguine in expressiug his sincere hope tat l Let the House contemplate this progreisioneonderna..' lowed the Noble Lord had stated his propositions Ilse time would arrive at no very distant-period use Bider itt importance duly. If. cenhiquenee of the ; with great clearness and precision, and he should the cash payments might be resumed. • • extent of paper, there Was at present no'smindard' of . take occasion in the observations he had to bring Mr. ERA.NKLAND LEWIS sold, thaireeehte value, and no limit. to paper isintes. He v&seed this i forward on this subject; eo give his• reasons why he .'edly at the time the House th oug ht p ro p er to appoint as an evil likely to increase, and having a tendency • thought the p r esent motion was unnecessary. He I that Committee (which' was gederally called the Ret. only to promote the interests of the Bank.. 'the I begged leave to observe, that the retteictittits, When Ilion Committee) all those s y m pt oms did insist which t actual question of the solvency of he Bank could originally f r amed, were by no m eans a measur e o f a depreciation of the currency would have produced, not be brought to the test; without danger. Ode the Bank, but an act of the State, for which the land from which suah depreci a ti on m i g h t b e fairly hp great point was, tile conhection between the Go. Bank ought not to be held resp o nsible, but the Go. ! ferred. As to the exces s o f i ssues p ro d uc i ng demo vernment and the Bank, which had always bees a vernment only. It was u n que sti ona bly necessary 1 dation of the currency, the plate priuciple opee subject of jealehty. Circumstances• hekecorred' j that this question should be fully and fairly in- , which that supposition rested, was, that if the nun in the present Setsion to show' the importauce of this ; veStig,ated ; and he was desirous a time should be , ber of things to be bought and sold in: the- country point. He did not east blame on the Batt ; but It fixed at which the restrictions should cease. The ' remained the same, and the currency esti Wormed, was matter for eticisirv.. Was hit* regard the late ! period he had it in contemplation to propose to this a greater proportion of this carrencyelust fall to the prompt acquiescence of the Bank to the Ministers' effete would be the sth of July, 1816, that no fur- ' share of each thing. The relative value' of the retti proposal, as a price for the contiheance of the re. 1 titer measure should NI proposed, and that the fullest rency being thus lowered, it produced thesame pried strictions ?-11e thought, though the question i& ! view of the subject should come under the revision . Bud effects as a depreciatiew of the crier/may; The volved difficulties, that the Bank did not adopt pre. ;of the House. fa the period of the fist restriction, i preseut price of gold was within a shilling or twee* per principles respecting general circulationi The . they were all alarmed at the situation of the country; high is when the Bullion Committee' made their re , enormous profits or the Bank were nototioeht, and but the caution with which Parliament proceeded was , port. When be heard of the immense foreign ex. on this head their interest• was evident.. '-Theli ca. ; such, as to show, that nothing but the necessity of the penditure, he could not conceive how our keeping pital was 11,600,0001. When resteletfon ' was had' case could have prevailed on theni to adopt it. The. l an army of 38,000 men in Belgium could materially on, their dividend was 7 per cent.; but after 1707, ! Noble Lord proposed, by the Committee be had , affect the exchanges, in a year *hen it was stated large bonuses were distributed. Thtiagh this was moved for, first to enquire whether the Bank was now that our exports were Vastly greater than they hid matter of perfect notoriety, it seated to bare escaped in a state to make cash payments, and whether they ! been in any former year. Io the yele 1795, when particular remark. - The total amount of the bo. , had takeh any steps to enable them so to do? Si. ' the Duke of York was in Holland with a much larger noses since 1797 came to 561 per cent.'on the ca. ' condly, to enquire ihta the connexion between the 1 army, that circumstance did pot produce such ea pital, and amounted, besides those things of trldch Bank and the Government ? Thirdly, to enquire; unfavourable effect on 'our exchanges. Wet bed bend we hod not information, to 7,000,0001. In 1799 into the profits they had made, and whether they !of the large exportation of gold in order to pay for the dividend was 10 per cent. Besides* this, there were willing to replace the tokens by the standard of. foreign corn. He could, not conceive why corn as had been the Property Tax : tie whole amount mak. ' silver? His next point was as to the purchase o f 1 necessar il y to b e pa i d for in gold more than any other ing 7,600,0001. He did not censure the Bank for gold. With res p ec t t o th e two fi rs t , h e t h oug h t no ; article imported; but, at ! ail - etents, the quantity of making profit; he only regretted that their profits measure could be more adapted to defeat the purpose i corn imported in this country- last year was not more were made at • the public expence. Vitae benefits of the Noble Lord than the measure he proposed.— . than a third part of what had been trepotted in soma Aittrived . by the Bank were all at the effelite et the' Aso, the question of the profits of . the Bank; as he; former yetre. If We were to look at the circoladoo public. What he had stated respecting the dividends. considered the whole measure of the restrictions to be iof France, there never ilia • exiiiibilltercouriiipany and their amount, lie had taken from Accountk laid one of state policy, and not an act of the Bank, the' difference between the market and the Mint price of before the House. Some years ago hrhad' made a.. House had no right to call On the'Bank for an account ; golds As gold and silver had remained at the ante motion that the Batik should reinstate the Currency of profit& arising from a measure that was forced on ' price on the Continent, it was absurd to argue that of the country, and Ire weld(' be gladteseeceive in- them. H e th oug ht it was b a t f a i r t 6 as k, w h et h er t h e ; w h en gold was dear here, it was sent to cosetries formation, whethe r it was the intenti on Elf Govern- Bank would not have made large profits &the reetric-1 where it was cheap. lie certainly thought that the ment that they should• do se?—There wits another lions had not taken place. Every species of the funds Bank.had made a very moderate use of the great and .pnint,in which it was true lie had no fault to find with were much depreciated at thetime, and in the nature' unlimited powers they had of issuing their notes. As the Bank, and that related to 'their paper. ft had of evedts they could not fail to have made large pro- i far as their conduct was concerned, he had rather to been often said in the House that the porter of the fits from the ext ens i on o f th e i r ta pit a l, which was . thank th em f or t h e i r moderation, than to complaim Beek' wet net forced into circulation. Sear an is.. much larger then that of any other description o f 'of them. He had no p art i cu l ar w i sh to ce ll t h em t o mitten might We' beers entertained as ciptsisting is persons. With respect to the bonuses to which the; account for the profits they might have made. Nei the tenth before the restriction took place, but surely Noble Lord had alluded; be believed. the loyalty, ther did he at all wish to enquire into the state of tile easecoilld not be said of it since that! neat took ' loan was the largest benefit they h a d rece i ve d ; an d t h e i r a ff a i rs. ' rhe amount of the debt due to there place. Every body Was new well aware what It WAS that took place, and the dividend of a million which by the Government was well known and it was also it present a legal tender, and all pernt were they made among them on that occasion was paid, known that they did not divide equal to their profits. obliged to receive it in lima of the currency of the before the restrictions took place, so wet it could be He did, however, think the Right Hots. Gentleman country. And being 'speaking on thet head, he no matter for the future consideration of the House. rather too sanguine in his prophecy, that the Bank would ask, and should be glad to .be Jefermed, With respect to the purchase of gold, he thought it a would be in a condition to resume its payments in whether tee Batik looked.upoo-; hohnd subject fit only for a committee o f J ew -b ro k ers , an d J uly, 1816. to replace the currency of the 'lt — . the foot- . not aufficiently known to the Members of that House Mr. ROSE differed entirely with the Hon. Gentle. hag it was before the restrletieni ware aH l owed by to decide on it with confidence and security. The man who had just sat down, as to the necessity of a Parliament ?—TMs was certainly a most (*portant next point was , w h e th er th e H an k was p repare d to Committee en this subject: In no instance, since he question, and aright to be well understood' bribe replace the tokens at the standard weight. He had been in Parliament, did he hear a Contained House and the Public. The whole carretity of the thought they assuredly' Would. If they did not do it moved for upon so slight a country was at this moment in the heads o f the i n s il ver currency, t h ey Woul d do it itt gold: or, in instance. He agreed that the Bank was no ;Arty to Bank ; was subject to their' eontroul' alolia ; and it o th er W or d s , t h ey wou ld not attempt to replace it by the restrictions, and he knew that they had no loft' became rtecessary to' kunst when it woo likely the paper. With res p ec t t o th e s il ver curreocy, he had ground as in the present mation of the intention to impose them, until the circulating medium would again return ihto its old made some obs erva ti ons on it l as t n i g ht, in answer to very morning on which they took place. After the and legitimate channel I—Another p q i n t t o w hi c h some quest i ons put to h i m b y an Honourable Gen- restrictions had been imposed. au examin at i on took