The National Register. — London, England, 1819-05-31 00:00:00

inptrial JiarliaiiiCi:t• 110 USE OF 1.01111:i. MONDAY. MAY 21. Lori Auccs..sterr rise o mice the third re.alin; of the Bill for regulating Chimney S sinters. and *hued the pro:isions which had boca adopted in pursuance of the recontroradution of the Cotuinittee of list year. No master wits to employ any boy to ',too ilineys under ten years of sac. It trppeareil fiom the evidence. that great hardship was infbete ! on boys. hp obliging them to walk the greet. crjin , ..; •• Sweep." at an eat.y hour in the morning. The Bill theretore provided. that no 'muter should salter his apprentice to call the streets. The practice of employ ing femal: ciiittlren was abolished, and no master wits allowed to keep inure than four apprentices. The Noble Lord tun!, the Bill had tile approbation of the principal persons in the trade. and it woad have the etnet of removing a stigma. which h.i.l perhaps been joitly attached to the don. practice of sweeping Ciiinne)s. The Loan Cu.aucs:l.Lon eNtsidertal the Bill to defective that t would be best to oppose the tiii.d reading. It was not suet) it as the Lekfialature could adopt. t/ae of the elau.es enacted. that if any person. following the trade of a chiinneraweeper. 'Holly required any bClrant to go down a flute, until after the same shall be cooled by throwing dots n water. he shall be subject so trial for ntisdemeanour• tut 1 punislittl with fine or intp-ison ment. This clause• iu the opinion of the Lord Chancellor. would prevent person; putting out tire under the fear of a prosecution. flue w!:olc of the Bill was objectionable. After anne conversation, in which the Bill was °Hosed by the Esel of Laaderilale, and supported by the Alarquis of loussdowne the Bill was thrown out—The 'louse adjourned. TEEM:MY, MAY 23. End . flaws brought in it Bill to abrogate the oaths which Pro.tstams arc rortired to take against their belief of the doe of r•ansubst:imation. The Noble Esti dtcribed the Bid k) be one to extend relief to a numerous class of his Alsjesty's slbjects. wham conscirnce :night be affected by the above oath. It was not to relate to opinions respecting spiritual and temporal tprernsey. lie concluded his observations upon the measure by pith; notice, that he should move the si.cond raiding this tjay tiwuught.—Adjourned. WEDNESDAY, 711 V '26. The Honduras Bill did the Marriage Act Amendment Bill were brought tip from tile Commons. and read the first time. Col.o.lllna CLEitatV.—The Earl of Hann°WHY brought in w Rill to enable the Archbishop of Cametbu:y and the iiisliop . of tondon to ordain Clergymen for the colonies , . upon ptoduettig pro l ier certificate; of their qiialific;titin, their intenttoa to go to tOme place for which they are ordained, and also to reside three. A conversation aroee some time ago upon the cpvation of Color vial legi dation. relative to the Negro Population in the West Indies, and it was , :tatel that difficulty was felt in procuring a s •tfficictit ntonhcr of protoit.:. t Ministtri to reside in the Colo aies. 'that diffimlty vsa,t attributed to the want of power on the part of the Bishop of London to ordain for the Colonies, and to Jo,gure the residJace of Clergymen who went out to offiziate. The 13111 intraltwed to the House was framed to make the necessary rcgalatiOns on the subject ; and after the Noble Earl had staled LLe IMlWisioll4 to Ju Ilou.e, it was road time lust the House adjutu ri;;d. "gauttsuAY,m‘Y 27. Two Priitimat were pr,seme.t again t the Imminent Deb twa' Art, a n d idler the 11,114 on tle.: Lillie had been forwarkJ. t►e Haut toijourned. to Moult) 34: 'unig t MOUSE OF COMMONS. MON DAY, MAY 24. The Rep ►(Tn. on taking the Chair, stated to the House, that he h.d received a letter from the Marquis of Camden, ecknow— led..ring etc receipt of the Resolutions of that House, touchinghis I sirashin's public spirited conduct itt resigning his profits of the Teller4bip or Cie Exchcquer. The Speaker read the letter, sct forth hie I.orils!op's grateful feeling, that his resigns tion of t profits fan office graciously conferred, in ctins(Nuence of his fathsr's i, had hezn to kindly acknos letlgt.sl by Por -I:antent, &e.—alear, hens.) _ . . 'taxa REroer s.--fir. PErt. having moved the order of the say, that the Howe resolve it:elf into a Commiute on the Hank Report+, rate to bring forward his proposed series of Resolutions, a ; teed to almost unanimously in tile select t7otumittee. That Committee had neglecter' ell party co:adder:Mons; they exerted themselves oevhisively for toe public good; and he trusted that tile Hattie W:141il he guitl.sl by similar feelings. As to the Reso lutions, they were tic Committees but the sentiments with which they would be supported were his own, and he was answeraVe for them : lie however must state, that since lie went i..notlw C ommittee his opinion had undergone a material change lie now agreed in the principle of Mr. 'turner, and declared that the support of any contrary principle would defer the resumption of Cash Payments to an indefinite pvr.otl. Ile would ask the llotire, could it be nutintained in argument that the Country coals! prse,..d as it had done for the last 72 yams ? Tile question was, were they ever to reutra to is metallic standard ? I lad not al! writers malt - veined that there was no security for any country without icy metallic standard; had not the example of all coon. tries shown the truth of such pontion ? Hut what had heed the srevni since 1797 ? They die not lessen the Ettinger by hiding it from theith,elvt s ; every foreign Jew saw through the fallacy.— (lleo.) 1112 of notes roodted from the purchase of gohl ; the distxmath,g of mercantile bills; or on Government securities. l'hc great proportion mnv was on Government securiti:i, some of which had noprovision made fur them. llow then could it be said that the :issues were committal:de by mercantile proceedings; et wore the issues ocrasiimed by sae!' events. The issues were etesttive ; ant the greatest proof of that Ewe was the value of e a In 11416 the prospects w. re imagined to be tlattavinh; but sit 11317. languor, the resuit of excitation, followed. The CAUC was. execwive i , otle{ producing ruinous entcrprizcs. And simi lar causes moult always produce like etilets. Purchases became nadusive and the demand; slid not equal the supplies; and these dethoged all Cie reiitlanans of soezety.—The labourers were atkritd beyontt id:Kr:pine); at oac time there was a great de mand ior labour—at rthis...cr, le..our. lartroished. This was ti,e rostilt t fan they:re:Wale pater; milky the principles of nature, nr oast wise Mitt:la:ion; of man, Vier,. was nothing of counter to i tai: in the face; were City to root.-- oiyinesa, tl tip ithlt Stat... period? If they poet t':c ins thiption of ca-'1 payments—if they tint not alio-. the V....A wou'l hot have them judge of the. tvii• real t mum such v.:pow:nicht Irani what th e ) frd . ...cad L tie r.:..tattptiot. at cash had her: store only been postponed fur a s!:utt period. They had ;7niic tlivough the circle of expedients; they mast .• scree up their courage to the seeking place:" the taped:lnc of the last few days slivw,ll ed..; (h. ar c totist, to do .ihy pod. anew that they "TIC 1104 in e•lrnes:..-t lit ar,lnwro—littty esp. di: tat; might ha ee I : tulupced ; much as had already had rem: oil hi, or a lima tinia of the Hank note nnny... Troy rt• decgivrl ut.wisc. nod were no: thought OC The Comauthe hamd that gold we. abuse the omit price—it was four pounds wit shilling per ounce ; that tile 1 3 ink wa in w canoe to the Governmi nt, Mudd adi ins e could i.l; :vitt they hat po,tpuned t;), n .uugmon of Ca•it V . 11) rl: 4v, 1411 . 2cr than Irut h. en !WM I , lsly to th, a5p..,7..: 01 t;. Cusasuitte. The plan of tt.maiog l'a.sh Payments rot b \v ‘I THE NATIONAL REGISTER. was known—he need not repeat it.—(Near 1 ) —To cccomplish this plan the re-payment or advances from the Bank was required ; but the re-payment of the 10,000,000/. were not required to be done iinineeliately. kitit gradually. It was also desirable that there should be a change of the nature of the intercourie b... tween the Government and the Hank..—illear h—and front anxiety to relieve the Ihink from burdens and e.:res far the public., he called on the [louse, by a greet effort to restore that currency and system which would put an end to such severe carat.-- (Hear, hear !>—l le then went on to deny that such re-payments of the Government advances would narrow the issues ; lie denied that such 'wilt would nece. , sarily follow; he was not sure th at they ;night not foetidly extend their hones. The plan to be prepared with bars had been unfairly represented ; and he asked whether the piles of gold had risen or fallen ? Ideal gold aim tnandel more of any oit given artiele ? It was fallacy to say that taxation had ad vatited fie price of gold. He concluded reading the series of tevlutioas as those which he was in►tructed to move:-- •"l'hat it is expedient to continue the Restriction on Payments in Cash by the Built of England, beyond the tune to which it is at present limited by law. •"f oat it is expedient that a dc:inite period should be fixed for the termination of the Restriction oa Cash Payments; and that pteparatory measures should be taken. with a view to facilitate and ensure, on the arrival of that reriotl, the payment of the Promissory Notd of the Bank of Lngiand in the legal coin of the realm. - - That in order to rive to the Rank a erecter contmul over the issues of their totes than they at present posse-it provision ought to be matte fur the grialuAl repayment to the Bank of the smut of Ten alillione bring pert of the sum due to the Bank. on account of advance wale by them for the public service, and on account of the purchase of Exchequer Rills under the authority of Acts of the Legibleture. 66 That it is expedient to provide, by law, that front the let February, Iwo. the Rank shall be liable to deliver, on demand. Girl I of standard fineness, having been assayed and stamped at his Majesty's Albite a quantity of not less than Go ounces, being required in exchange for melt 1.0 amount of Notes of the Bank a: shag be equal to the value of GULL so required, at the rate of 41. 15. perounce. " That flout the lit October, 1820. the Bank shall be Bettie to deliver, on demand. Gold of standard fineness. assayed and stamped as before mentioned, a qttaritity of not /me than 60 ounces being required in exchange fur smelt an amount of Notes as shall be equal to the value of the Gold so required, at the rate of 51. 19s. 611. lar ounce. " That from the eg May, tett. the Bank shall be liable to deliver. on demaud. Gold of 'undo:it fineness, sewed and stamped as before mentioned. a quantity of not less than sixty ounces being required in exchange our such an amount of Notes, es shall be (lea] in value to the Golds° required, at the rate of 51. 17s. WO per ounce. " That the Bieekanty, at any period :between the Ist February, 1820, and the Ist May, libel. undertake to deliver Gold of nanii ard fineness, assayed and stamped as before mentioned, at any rate between the sums of 41. Is. per ounce. and :;!. 17e. I it:el. per ounce ; but that such intermediate Fate having been once fixed I by the Wink. diet rate dull not be subsequently me:eased. " That from the tst May. ise:s. the Bank shall pay its Notes, ' on demand. in the legal min of me realm. That it is expedient to repeal the laws prohibiting the melt ing and the exportation of the coin of the realm." The do ee first Resolutions were agreed to neon. con. and on the fourth being put., Mr. ELLICE rose to propoise, an amendment. Though it might appear preeumptous in bin to chain the attention of the house, after the very able speeen of the Right Hon. Gentleman who had just sit down ; vet he could assure them, that he roe with no presuraptous feelings, but he thought it thus to himself to state his objections to the proposed resolution ; when he did so, he did it front no hostility to the general principles of the report. He would first propose, that the Government should be cont• peeled to pay the Bank the advances specified in the third resole tem of the 10,000,000/. His reason for this wet. that the Right lion. Gent. (the Cheneellor of the Exchequer) had already Weil in fulfilling his engagements to the Bank. In the last year a payment of 9.000,0011!. was promised to the Rank by monthly in stalments of 1.(100000/. ; but it ap e eAred that iu May only 500.0001. or 60040 E. wire paid, that tanking was paid in June. noshing in July, and that in August, it-eiead of laying, he went to borrow money from them at a loser rate of lIMITeSt. The Bank was, therefore. almost justified by the conduct of govern ment to diem. The first resolution he would propose as his amendment. was leaving out the words After " that ' in the fourth reselution, to substitute the following; •• it is expedient to order by law, that the sum of 9,000,000t - tit' the bank advances to go. ve:nment be repaid, by monthly instalments of 500,000/. beenn ning with the 10th of June, and that no intermission take place till the whole be repaid." Having thus explaiaed the nature And object of his Host amendment, be would now proceed to state the other resolutions which he proposed as amendments of the Right Hon Gentleman's revolutions. The next was,—" That. in the opinion of this home. Cie Bank ought not to advance any money I to Government on Exchequer Bills, or Treasury Bills, beyond the present stun advanced by them, ur beyond the sum that shall ' remain due m the Bina aft the 10.000,000/. are reduced, with out the authority of Parlienunt." The oh'ioet of his next revo• lution was to put it in the option of the Bank to pay in the legal coin, or in gold. tit the Mint prim. The rmolution was, " That the Bank have it in its option to pay after the Ist of May, its 2 either in leeal coin. or in gold, at el. tee. 10 d. per ounce." Ile had one other amendment to propose, which was. " That after the Pit of May. 1811, the Bank pay us notes in dm Ice! coin of the realm." With the last resolution moved by the Right Hon. Gent. no person could find fault, all were agreed as to the expe diency of repealing the laws against the nicking and exportation of min. He begged pardon of the House for having occupied so much of their true. (Hear.) But from the course of conduct adopted by the Right lion. Cletheellor of the Exchequer, he felt himself bound to say so notch re pectiog the degree of cvntitleace to be placed in Government on this omit, ion. Mr. BROC•DEN read the 401 of the original resolutions. and tile resolution propoeel as an client:intim. add put the question. 'air. 1. P. GRAN r said I.e Al 3 CU1111t11:4,1 that tit e proposed snot sures world not be (,r nt,lity. Mr. W. Port: went i •to el lung detail of the Mint Regulations as affecting the titte,:iou of Is melitifie currency. _ _ . _ . Mr. 'ft Nt:;" N.kidi he had heard v.it:i the utmost satisfaction the Speech of the light lion. '.siitl-na.n who had proposed to the House the Remlutims which thy were that evening called upon to tit. as. lie could as.ute Min, (Mr. reel), dud if a com pliment from N4ll humble an individtid as Lints.]: could gi% c him any gratification, he wouuld gladly offer it ; but hi truth he was afraid to do so, led would he thoih;lit to be paying a compli• meld to Ca: piitic.idcs which himself and many of the friends around Lim It. I a 0n..4,in4 for a long scri:s of years. It was , of silicae pieasure to him it hear those max •• I so long inen eon:ending avowed a; max ims .it , tiy it. t• it house, especOilly us such aniplejuatice 1, 4 ,1 1,, Inc(a to ti... 11 by the flight. lion. Gentleman who now. for the ;hid duce, adoptd hiem. Ile had to return him Isis sincere thaniat tar this smicz, and above all. lie had to return Lim for the nisi and eloquent complimmt which lie had paid to the mccnory am , mu dear and lamented friend cf his. lie should Lie retinxed sua graulLation f . ..nu the events of ~~~~~~ MAY 31. the preseet evening, had that Mend (Mr. limner) been alive to alines. the establishment of thou, principles which he (Mr. Homer) had been the first to propose to the attention of Parlia ment. Tito eloquence with whielt he had explained. and the in• yenuity with which he had defended than. had always attraeted the ailinitaiion of the House. but it was reserved to a Liter period azknowlalge that they were no 1.4.14 true then they were Inge- Mous. 'here was another instance, to which it was sesrcely necessary for hint to refer. where a 'intik,: run of ju.tice hail been done to a man. whose loss was lamented and regretted by every individu :I whom he had the honour of addressing—he meant Sir Samuel Hominy ; the plans which that illustrious character had propo•ed Mr the amendment of the criminal law, though ridi culed and *ejecta' as wild and impracticable theories during his lifetime, had been adopted since his death, and taken into the moat serieits oonsideration which Pelham:nu could give them.— (Hear). The Right lion. Gent. had just done justice to one of these ilietingui.heil characters; and he 'meted that it would not be long before the House would do justice to the other. (Loud cries of hear.) lle should not have risen, at lancet this period of the dehete, had he not been personally allotted to as the only member of the Committee who had declined giving his arsent to this plan ; this was not exactly the feet. although he was the only percon who had effecueilly expressed that difference of opinion.— Ile (Mr. T.) much lamented that he could not concur in the pro• position that had been submitted to the !louse; no man was more anxious than himself for a resumption of cash payit. Mats ; no man had perhaps shown less lenity to the Bank due:eters, but justice uoglit to be done to all parties. He would state plainly and without reserve los reasons foe preferring the amendment of his lion. friend, and foe recommending it to the house for adoption. Ail were agreed, at least he hoped that all or nearly all were agreed. that the sooner the ancient standard of value was restored the better. There might be a few indeed who maintained that the Bank restriction could be continued w ithout inconvenience; such a view of the subject he entirely abjured: he disclaimed all community of interaa and feeling with them, and although he disagreed with the right honourable gentleman who had intro duced the subject, he perhaps even more widely differed (ruin the monstrous doctrines; that had been broached on the other side. lie war well convinced that there was no security fur the empieo but in a recurrence to a utetallie citraney, and the only dispute could be, whether the method of re.toring it now proweed, was such as ought to meet with the approbation of discreet men. The plan of the right honourable gentleman, or rather of the commit tee, lay in a narrow contras. It was, that the Bank, in Feb. next should pay at the altered standard of 41. is. all dernenda upon them to the extent of GO ounces of laid; teat in October they should pay them in gold at the rate of We. tid.; and by the Ist of May. 1820, revert to the old Almt standard of 31. 17s. but it did not stop here ; for the plan was to con tinue fur two years fro:u that date, during which the Rank was to pay its notes in bullion at the Mint-price. The drift of the whole was, that in 4 years from the present date. that is, in the ninth year of peace, the country shall have a prospect, though a distant one, of enjoying once more the blessing of a metallic cur. rency. The country was much indebted to his hononreble friend (Mr. Ricardo) for employing his mind, so well endowed upon all subjects, upon this : but he was by no meant convinced that the plan he had suggested ought to be adopted. The house, how. ever, would bear in mind that the project of the committee was not his plan : it was a all of a totally different deeeription, for it deferred all payments in bullion for two years, and did not at last give the country a specie currency until the lapse of two years more. It was true that wine sort of stepping-stone to Mr. Ricaxdo's plan (for it was idle to conceal the name) might be prudent ; but he could not without alarm and abhorrence ae an attempt thus made to, introduce for no less than 18 mouth ;. a standard of value unknown to the usages of this kingdom: it was in fact raising the price of god because the price of paper was lowered. As to the opinion of the Bank, was it unfair to suppose that the Bank directors might be converted ? He did not coutend that the whole of thoie gentle men were all warranted in entertaining the strange and wild notions they had promulgated ; but practically how did the mat ter stand ? The Committee maintained as an abstract principle, and as statesmen and philosophers, that the i..stte of paper governed the price of gold; but the directors not pretending to be judge. of political economy merely replied, that there would be a run upon them, and they must call in their piper for the purpose of protecting themselves. The issue then was between statesmen and philosophers, acting upon solid principles of poli tical economy. and Bank directors who considered only their own peculiar convenience and private interests. The argument on the other side amounted to this, and nothing else—tlat the Bank of England wa. no longer to be trusted, because it is evident, from some expressions used by the Directors, that they will not take the proper and necessary measurm for paying their own notes.— But the Chancellor of the Exchequer stated in the (louse with the utmost triumph. that the Bank were paying gold, and that 3 spmie currency was actually cominenced. Tins was the same Chancellor of the Exchequer who taw declared, that the Bank was nut to be trusted.--Illearn 11'as it not then most extraor dinary, that no security was to be taken from the Chancellor of the Exchequer, while the right honourable gentleman Mr..f extorting the most peremptory securities front the Bank in short. the shepherd was to be put into the stocks while the wale as to be allowed to prey upon the fiock.—(llear and laugutern He (Mr. Tierney, could not figure to himself any thing more tuts chieviouv then for the government to hold up the Bank as tin • worthy of public confidence. As lone as there sa. a Bank it was our interest to maintain its charters ; upon that depended the estitnuthin in which tie public would hold the currency; and a more extmonlinaey recipe fur government was never beard of titan this—that because some new light hail broken in open those hitherto *. iii middle and utter darkness." the strictest securities were to be nonsuided, and the unrest rigour displayed. It the directors deservedly forfeited confidence. away with them ; hut it was mu.t unfair that ministers should insist that the machinery of Threadnealle-street should work as easily its ever, mid e bold the very oil from which it derived its facility. (liter, dear.) His firm reuvietion was, that utter what had pa-.aid, it the 10,0oomord. were paid, the Bank would be ready in two years ur sooner to resume ca•lipayitacnt...--t (fear.)—Was it not a ote ierial object at a time like this, when Mere was so much ;darn . and so much cause for it, to do every tiling which could tee. quillize men's minds? Oh but. says C.o. Chancellor of tb r Ese!.equer—H Who cares for alarm % llviy ulna me. anti tl , will be right." He should ILT0311114.11(1 the 11114'3 t 1 ~,,,,,, I iii. honourable Ahind. as most likely to conciliate the pul , mind, and to alley dime alarms which had sprung out if the bail management of the Chancellor of the Exchequer.— Ile should therefore rropose, either that the ufnentlithi t be adopted, or that the House should adjourn the furrier consideration of this momentous question.—(Continued cheering. The Cli ANC E 1.1.011 of the Excittattnea 'eat. that he event not give a eiletit rate on this Of ['UMW]; but it might be imputed to him that he gave merely a sulk:: approbation to the plan p,e -p0.5.11 ; on the contrary. he beg r ad to express his most coma assent to the plan, thinking as sae rii.h that it was most admirably calculuted to ensure that nine eeetreble object, the resumption of cash payments. Ile lied always been Of opinion that it was highly important that Vie r attictione thoolil be removed whenever tee coo: menial and nolit:eal telanJfis of the etiolate , realered such a imesure teife and Time ri;,lit km. geutl.uutn Trern. , 7) ref•rr••l to th. • hme •of Nlr. Hai if• • • em. to opposition to the l pan now proposed: but a careful perueal of KIN` .. "•- 170 P 1 Tr (Iv It be , at.