The Statesman. — London, England, 1821-06-25 00:00:00

IMPERIAL PARLIAMENT. HOUSE Of LORDS.--SATuasmv, Joss !IL ?hit Amy the Lord Chancellor, Lord Melville, tad t*d Shaftesbury, as the Commissioners of Ma Majesty, OW the Royal Assent to sundry Public sod Private amoog which were the South flea Ballast Rill, ate Peer Relief Bill, the Rest India eisermtey's Prise Mosey Bill, the Irish Insolvent Debtor's Bill, the Now Loads' Cis• Company's Bill, &a 110L1311 OF COMMONS. -- - The SPEAKER took the Chair about twenty minutes poet two o'clock. The Heal Pees (Ireland) Bill, th r t &elfish Malt and Scottish Distilleries Drawbacks were severally read a third time, and passed. T & l; w irisonet Rescue gill and the Coastiag Trade Bill were eamusittell—Re pveto ea MOaday. The Legal Duties on Spirits. Bill, she Warehousing of Goods Hill, the Collectors of erm ined (Ireland) Bill, and Mohair &math* Bills, were nod a ecenod time, Mr. M. A. TAYLOR gave notice, that early nest Ses sion be would bring forward again his motion on tie *abject of 'deters in the Court of Chancery, and the Appellent Jurisdiction. - The Customs' Duties Bill was reported, and the Reso lutions agreed to, after a few words between the Chan teller of the Exchequer, Mr. Home, Mt. Ricardo, Mr. Malierly, and Mr. Trott, Upon the ptoptiety d putting the West sad Bast India Colonies on the same footing respecting the duties on cotton, so as to prevent either from Saving an undue advantage over the other. Qa the motion of Mr. HUME, accounts were ordered, fro* the year 1814 down to the present time, of the total expanse of the East India College at Haviesbory, toge ther with a Return of the Number of Writers sent out to the East ladies and China, and the expences of their education, he. After moving for these Returns, he said, that it was his intention to have submitted a proposition to the House this Session on the subject of educating in the native languages the persons destined to bold mili tary situations in India, but he must now defer it until the ensuing Session. In the interim, however, he be. l'•-ved from the proper view taken of the subject by the present Chairman and Deputy of the East India Com pane, that his motion would be rendered unnecessary. ,Corti BINNING entirely concurred in the pro priety of the Honourable hlember's view of this sub- Similar Arcouo•a were ordered respecting the Ca dets of the Addiscombe College. The Appropriation Bill was postponed until Friday ;text, and Mr. HUME gave notice to the Chancellor sff the Exchequer tl:At on that day the subject would be full♦ discussed. An•Acconnt was ordered of the names of all Mem bers who held Places ender the Crown. from the first Parliament of King William, down to the pre sent time, as far as such an account can he ascer tained. _ _ At a quarter past three o'clock, the Howse was sum moned in the usual form to the House of Lords, to bear the Royal Assent given, by Commission, to seve ral Public and Private Rills. Os the Speaker's return be named the several Rills to which the Royal Assent bad been so given (for %which see Lords' Report.) The House adjourned at fear o'clock. 4 GRICULTUR.4L REPORT. [Resumed /rout our testi The object of this Report is to examine the causes that bare combined to depress the peke of core, in seder to aseertaiu how far their effects can be reuse died. In pursuit of this the Committee adopt the fol lowing reasoning, assuming first, that among those causes most be reckoned " the general abundance and good quality of the last harvest, in all articles of grain and pulse, more particularly in Ireland, is which part of the United Kingdom the preceding harvest of 1919, was alto uncommonly productive. Several of the wit nesses examined have stated their belief that the prices of grain have further been depressed, in the present year, by the eery larte importations of foreign corn hick took place before the ports were closed in the month of February, 1819; but looking to the very Ligh prices, and to the constant and brisk demand which prevailed in onr markets so long as the ports continued open in 1917 and 1818, it may be inferred that the greatest part of those importations was neces sary, and was disposed of during those years, to supply the daily wants of our consumption, and that it is therefore only in a remote degree that the present prices can be inthrenead by the occurrences of that period.—lt can scarcely be rt.-emery for the Com mittee to remark, that the growth of wheat has been greatly extended a:id improved of late years, in all parts of the United Kingdom, but principally in Ire- WO since the year 1807. • • • • " Se far as the present depression in the markets of Agricultural produce is tbsoffect of abundance from oar own growth, the inconvenience arises (roma cause which no legislative provision can alleviate; so far as it is the result of the increased value of ear money, it is one not peculiar to the farmer, bat which bait been and still is experienced by away other classes of so ciety. That result, however, is the wore severely felt by the tenant. in consequence of its coincidence with stn overstocked market, especially if be he farm ing with a borrowed capital and under the engage ment of a lease ; and it has hitherto been further ag gravted hy the comparative shirtless with wbkb prices generally, and particularly the price of labour, aceommodats themselves to change In the value of money. From this circumstance, combined with other causes, the departure from our ancient standard, in proportion as it was prejudicial to all creditors of money and perons dependent on fired incomes, was a tenefit to the active capitals of the country ; and it cannot be denied that the restoration of that standard has, in its turn. been proportionally disadtantageout to many individuals belonging to the productive classes of the community, and especially to those who had engared in speculative ad% comes, either of farm ing or trade. That restoration must also he accompanied with ertiba rrrrr tuent to the land owner, in proportion as his estate is encumbered with mortgages or other fixed payments, assigned upon it, during the period when the lands and rerts were raised to an artificial %aloe, in referents to the impaired value of the money in which those encombrances were contracted. '• Front ti .e eessation of public loans, the probabi lity of large ac'ecoiniations of capital, and the con- I toast operation of such a Sinking- Fund, as in the pre .ograt state of our finances, mac henceforward, during the cionsalece of peace, be segnlarly appropriated td -. .1.1.• THE tits reduction of the public debt. your Committile trait that the rate of lamest of mosey may be es the reduced below the legal smarterwea, oats make those leennsbrances a lighter burthen upon the landed inter ests of the kingdom. It is so alleviation which former intervals of peace have prodoced, at periods in many respects less favourable to its attainment; and It is the present instance, the want of that Alleviation which is become more nrgist, your Committee venture to hope that. from the greater acenmalatioa of capital in the country, co-operating with the effects of a positive and steady reduction of the public debt, this salutary malt will also be more speedily brought about. They look forward to this mode of easing the iscombrances of the landlord with the more anxiety, as. amidst all the injury and injustice which an unsettled earrescy —an evil, they trust, never again to be incurred—has in succession cast upon the different ranks of society,' the share of that evil which has fallen upon the landed interest, is the only one whirls, without 'Wild ing greater injury and greater injustice, admits (now ' 1 that we are so far advanced in the system of a re stored currency) of no other relief. The dillienities, great as they nnfortnnately are, in which it has in volved the farming, the manufacturing, and trading interests of the country, must diminish is properties as contracts, prices, and labour, adjnit themselves Sr the present value of money. That this change is erne in progress, and has already taken place to a consi derable degree, is in evidence before your Committee. They are satisfied that it will continue until that ba-- lases is restored, which will afford to labour its due remuneration, and to capital its fair return. And although they deeply lament the derangement which the fluctuations of the last ten years, in the infer of the currency, have occasioned in all the transwilions of life, together with the individual loss and suffering unavoidably produced by the return to a fixed standard, they are satisfied this was the only course which it teas is the power of Parliament to adopt; as well to prevent the continuance of a derangement, leading, OS It must have led, to the aggravation of those losses and sufferings, as to manifest to the world the kfiexible determination of this country. rigidly to adhere to I that good faith of which the moral character of the people is the sure guardian; and which, with that character, has placed oar greatness and our power upon the foundation, hitherto nnshakee ami,lst all our vicissitudes, of public credit anti national honoree." The Committee then proceed to state, that " in the earlier and more remote stages of our agriculture similar alarms respecting the agricultural interests prevailed ; but they were only temporary, and the fears entertained were dissipated. by the natural coarse of seasons and events; and it often happens that these disorders are prolonged, if not aggravated, by toe much interference and regulation." The staple cow modifies of other countries have fallen in as great a proportion, if not greater, than the fall in the rift of grain in this country. That it is their oidoloo " the annual produce of corn, the growth of the United Kingdom is upon an swig* trop about equal to our present annual constitnpfton ; and that with such an average crop the present import prices, below which foreign corn is by law altogether excluded, are fully sufficient, more especially sine, the change is the value of our money, to secure to the British grower the complete monopoly of the home market."—se fro tection cannot be carried further than the escompoll, and this the British grower has enjoyed for the Fro thier of the two last harvests." After pursuing the course of argument on this point as stated in our last, the Report proceeds in the following terms:— " Your Committee cannot conclude the observed's' which they have found it their duty to submit to the House, without observing, that mast of the Petition referred to them, complain of the inadequate and imp rions operation of the present Corn Law, sod pray generally for protection, not fur grain only, but for all the productions of our Agriculture, equal to the protection gives to the manufactures of this country. Within this principle, the Petitioners appear to be friendly to an open trade ; but in the application of it, as expounded in some of the Petitions, and illustrated in the examination of some of the eitnesses, your Com ,tee cannot but apprehend that the duties wh hey contemplate, would be altogether pooh!. il i t hi " It cannot be necessary to enter into any statements to show, that, practically, this would be the regal:. in all but seasons of scarcity, of Axed duty of 40s. a quar ter upon wheat. Your Committee will merely repsqt what they have already stated. that when the trade in corn with the Continent gas open, subject to the scale of duties imposed by the Acts *11773, 1791. and 1904, and in force till 1815, there never was an importatioa of foreign corn to soy amount daring the short inter vats elms the high duties were deemadable ; and yet those duties at no part of the time exceeded 948.3 d. per quarter. To this fact they will only add, that what is proposed. - 1a oddities to the melon of the duty, namely, that it should be prow tient, " whatever may be the price," is a proposithati which your Committee are confident the Legislature could never entertain, nor any considerable potties of the community ever eountettance. " The suggestion with respect to duties equally joss bibitory on every other article the production of the ail of this country, all come under the saute priatiplev aid are open to the mare objection. 'The prif won* lit fact, go far to annihilate commercial klllem . comes altogether; and is moreover founded, as itialpe pears to your Committee. upon a mistaken statemdst,' as well as an erroneous view of what is deemed protec tion to our manufactures. In the first place, they feel the mote warranted in affirming. that the Bermest et the Petitioners rests in part epos a misconceptios of facts; as they observe. that one of the witnesses. in order to illustrate hi. ideas and the wishes of the Pe titioners, has furnished a table of the ditties payable on foreign manufactured articles, of which sevegal are sub ject to direct heavy duties of Excire in this country; and upon the importation duty, as fur instance upon the article of glass, is imposed in a great measure to countervail the duty upon that article manufac tured in this kingdom. " But the main grounds upon which the Committee are disposed to think that the House will look isitis some mistrust to the soundness of this principle. is. first, that it may be well doubted whether (with the exception of sills) any of our considerable manufactures derive benefit from this assumed protection in the au lets of this country ; for bow could the foreign moon factures of cotton, of woollen, of hardware, complete with oar own is thiscoantry, when it la itotorktes that we ens afford to undersell them in the pealeda of those /teat branches of oar masafaetoring indestry, even in their own markets, notwithstanding that cotton and wool are subject to a direct defy on leaportations, not drawn bark upon their export in a manufactured state, as well as to all the indirect taxation which affects capital in these branches, in common with that capital which is employed is raising the productions of the soil Secondly. that there exists this most essen tial difference between the effect of protection given to the manufaciurer (even if be did not enjoy from natural senses a preference in the home market), and the at• tempt at a similar protection and monopoly to the pro dace of the soil--that in all employment of capital, either in trade or manufactures. profits are limited by competition. If, for any length of time, or from any circumstances, profits are increased, in any particular branch, above the accustomed average, additional capital seeks employment in that branch, and profits are again speedily reduced to their former level. This would equally be the cue if the demand for that par ticular article were doubled ; and it may fur her fre quently happen, as we have whammed of tote years (is all goods, fur instance, wrought of iron or cotton), that owing to discoveries in mechenical and chemical science, and improvements in the manufacture, an im mense increase of consumption may be coomseettant with, and probsbly. in a great degree, the result of a great fall in price. " The same principle, it is true, applies to the capital and business of the farmer ; but with this important distinction; that the price of core, taken for any series of years, is necessarily regulated by the expense of production upon the lands which, at that price, make no return beyond the charge of raising it, together with the ordinary profit of the capital employed upon those land.. The cultivator of such lands for the time, is upon a footing with the merchant and the manufac turer; but if the demand for corn were doubled it would force into cultivation poorer lands, requiring a larger capital to raise the same quantity of produce; the price' 'elf that produce would determine the price of the while. or those poorer lands could not be maintained in culti vation ; for there cannot permanently be two rates of profit in the same occupation. It is sufficient for your Committee to point this ground of difference, and to leave it to the judgment of the House, in connection with the observations which they have already submitted in a former part of this Report. Another wish express ed by some of the Petitioners, and some of the wit nesses, is for the repeal of that clause in the last Act, which allows the warehousing in the United Kiegiss of foreign corn, when it cannot be taken out for Mae consumption. The grounds upon which this 'alteration of the law is suggested, for the relief of the British grower, are two fold.—lst. That the foreign corn ab sorbs the capitals of the dealers. which would otherwise be employed in speculating in corn of British growth; and, secondly, that it enables them to bold, in the ware houses of this country, a large stock of foreign wheat, the notoriety of which depresses the market., from the dread of its being poured in so soon as it is set free by the prices rising above $0 shillings. " The first objectios proceeds upon two amomptions, bulb of which appear to your Committee doubtful ; Ist, that the capitals of the dealers are absorbed in this fo reign speculation ; and 2diy, that if not so employed, they would speculate with them in British corn. Your Committee conceive that there is no fixed amount of capital assigned to this trade, and that it is governed by the saner principles which stimulate the application of capital in all other branches of foreign er domestic commerce. The value of all the foreign corn sow in this country. which cannot be sold for home consump tion till the price shall, for some weeks, have exceed ed 110 s. a ginner, is probably less than one 'Hilltop sterling. British corn, by the last retern, was about Us. per quarter. Can there be a doubt, if an im pression prevailed generally, that it would rise to 795. before the next harvest, that abundant capital would be found for speculation; and it is not the II ant of it, at this seeeseat. rather to be received as evidence of as apprehension that, in the event of another produc tive harvest, the present low prices would not be im proved ? Upon the second objection, your Committee have only to remark, that it Is unquestionably true. that the present actousulation of a great quantity of fo reign corn, the surplus of the two or three !ast har vats on the. Continent, would have a considerable in damn upon the price here. in the eveet of the ports being opened in coaseqeeute of a deficient harvest.— But the trusties is, whether that influence would net be needy, if not altogether. the same, under that con tingesey. If that 'cementation were altogether at the shipping ports of Holland. or other ports et the Con insult. instead of being divided between them and the warehouses of this tottery ? Should the prices here be Inetaatiag between 70s. and 808. some small diger. !Mee might pedlar' be pratinced by the knowledge of the OLNIUSSISIIINI in ewe own warehouses, stimulating the lkitish grower to bring his own corn to market, to letpdown the price When it was approaching to the impose rate, Is order to tint out the foreign supply. But in this emote, emirate Information must be to him an advantage. The time might also be a little varied at which a port of the fend.' mire. epee the ports being spelled, might find its way hither. Bet this differeace woad not be considerable, the ports of Flanders and Holland Wag as easvealeat for the Thames- ea most of our own ports from which teen is shipped for Leedom. " Having stated the grounds apes which your Com munes are of opinion that the expectations which have been enssetained of minima(' from the repeal of this clanse, are sot likely to be realised. they etnieeive that the views in which it was introduced of making this country a deposit of fovoige Gum which either NU Own occasional wants. Of those of other na tions might be supplied. are. independent of other ' considerations, too notch in naives with our general warehousing system. from which this minty/ derives such important commercial advaatages, to be abandoned without further proof of their prejudicial effects to our agriculture, than any which year Committee have been able to collect from the evidence. It is material to observe. also. that the warehousing of foreign corn In this country, has this great advantage, that it places , the supply of our wants. to the extent of the qnantity warehoused. out of the reach of foreign States, putting it out eft thek power, in a *ramie of scarcity. to ag gravate the pressure of those wants, either by prohl: TAT biting the expert of corn, or by imposing a 4eas v upon that export. The fact of npritids of Or !Pr...- drat thousand of quarters of wheat. having fki en re _ restly sent from the warehonses of this coontry to the Mediterranean, further shews that this facility of ce. posit is not a matter of indifference to the coointe lei and navigation of this country. An :Inpreisiiia pre. vails is many quarters that large quantitief of corn; imported since February, 1519. have rec'ently bee t , introduced into horse consumption. TMs teak ialy, have occurred by a fraadalent evasion of the hiw. : oi Ile existence of this practice to a great extent, pe r Onismittse have received many intimations. My pear, however, to rest upon vague rumours, which th e parties, when called upon, have not coon forward, o r set been able to substantiate, exempt in one instance; See particulars of which your Committee forbore / te l State, as it is understool that the persons coaceried the attempt are now under prosecution. Titer tit only observe, that the qn inti.y stated to have hew withdrawn was inconsiderable, sod that it app pi them, if further security be requisite against tit ti• - earrence of this fraud, that regulations fir that ptir: pose may easily be devised and introduced Into the Bill, now before the House, for better ascension', the average.." s o We are bow 4aite satisfltill as to the fefe sf the tip, of the &road Editinn of Tsi kiTYlPaliall4ll, Aftirj e d to The York Herald (Mee. oa Tharsday the lth lam. We are also eentristred. that the isfonaation rastalsed la the latter was sesbotaatially copied from Tag berrawass, where fr 4_lAm we rare lot. Wh e th e r th e Edit or i t The Homed "irotated the aid of sera htfernwithe we heow sot; **cell judge that he did from his para. color wish privately vrywoooett to a.. iltHile OF STOCKS TH Beak Block per Cent. Rs& 761 er Coat. Con. 3 per Coal. BM 4 per Cents. 94k &per Ct. 'Navy (shut) &per tist. Long Ann Imp. I per Coat. Irish Ana. DAY AT UNE lees Mock nitlolloods —s. 430. pi Boodo-lles Meet lloodblies OW Aso. iii Milsli . Is dia.*Lps Oasis for Mosey pe Ilia for Among la& Per ditto Coo. for Ant 7711 Lott. Tickets 211. 194. NIGH WATER •T Losssox-snioss tamonanw. Morning 54 m. aflor W.—Weals, SI 'Lifter 11. et, ktatcOntatt. "• TM, lIIIITIMI STATIIIIIIIIN" IS lIMCDRIPORATBD WITS " TIM STATICIWAS." LONDON: MONDAY Itrextxo, JUNE 25, IM2I. _..........-.. The Bombay Papers arrived to the middle of Jev. contain a list of the different troops embarked oaths New Expedition to the Persian tinlph, which are m follows, 117 of &Toffees troops, 1263; native troops, 1886: followers, 1611. The ships are all on the move, and some of them are below the riddle ground. It ie supposed they will sail for Muscat in the course of a few days. They will proceed seder the charge of H. C. Cruiser Vestal. The News from the Persian Golph is far from aati•- factory. Trade was dull, and the meat disorders at Bussorah indicated almost a total cessutisa at out [IRON TITE •ATAVIA COUUANT, JULY 184 By arrounts from Celebes bland, we an lallesmsd of every thing being tranquil in that quarter. ?be Rajah of lioni had not been at MacasFar, aid it is doolstfal, notwithstanding the difference between Mm and the British Government, which are not settled* yet, if he will art offensively against the Netherilai Government, of which he hat formerly been a falafel ally. His Majesty's corvette, the Galatea, was lest on the 2bth of May last, on the rocks of Carsel Bailie,. close to Banes; part of the stores Lave hem saved. An investigation is now being held of Ibis event. Paris pipers hays arrived to the 22d instant. The Chamber of Deputies is still engaged in J16(441111 the Budget. The articles with which they have rectally been occupied relate to the Military Estimates. Oa Wednesday, the Minister of War stated, that the army now amounted to 150,000 men, which number cmthl easily be doubled, if the country reqnired seri es augmentation of force. tieneral Edmond de hart], Duke of Dino, the Duke of Ceigay, Count de Kw. and Viscount de Rosana)°, have been appoistad by the King of Prance, to accompany the Duke the tirammeel , who is to come over as Ambassador Extraardflel, our Court, to attend the Coronation of his KeartlV" . The Dacbess Dowager of Orleans is not des& 0,101 been reported, hnt her situation becomes reify Joy gore alarming. The ex-eonyentleoalist QuillaWs lra " was banished as a regicide, died at Brous* a fee days ago. Daring the months of March A 0140 46 great quantity of snow fell on Monet St. Records sa the Ist of May It was IS feet deep. FROM. FeNDll.—Fire per Cents. b6l. 6k.; Beak. Actions. 1,587 f. 50r. The articles front Petersburgh and Vies," lebieb dime papers contain, are of considerable impotisser• Ateordiug to the former, a Russia. army of iOO, lO liet was to men Ilse Dwina in the first days of Jeer, sad listamp spo Its left bank, in the neighbeerheed of Witepsk. All the regituents of the guard had lea Petersburgh, the artillery was following, mad the Go vernment of Minsk had received orders to sake pre parations to accommodate eighty thousand area. The Emperor was not expected in his capital till the tOlh ultimo. The communications between the Coeds ei Vienna and Petersburgh are said to be usasesily fee quent, and their object is generally believed weaklier the propriety of assisting the Greeks agaiast lbw ssr h at haroni oppressor , ' ; it would not therefore be P a ri er g . i . ng eot i l i n . etchteedrweseianst adisP°llesgigitni°Dsio gra de b a y nt. os Satil l — the a reri t g w etn t ir t o i c en b fr h o a lai s t fur some CnitillaSetiellepT2rbleallieledy "111001fhb.ildi r Psr eci l l e l I 11 P _ NI .41 111 101 • 1 i i i I I 1 4 t 1 1 I 4 a