The Statesman. — London, England, 1823-06-13 00:00:00

• --_ r* . an amendment to the proposition of the Member for Palm Tim distress cif the country weer, and setmnas little likely to abate, thr oases 'Whitely for HOD. Members themselves.: The Member for Por treated the milli 'listire 'which the count lightly I he (Loot Polbstune) only hope, that ey were sot considered *slight matters hy the Government. Nmalusist the lietwontabtedlitnibriforPorfirigelon was sightin contending that the cost of production would eventually regulate the price of corn in Ilse country, 0%. the cost of produce regulated the price in every other article of trade ; but this remimerating price could only bebop(' for out-of an Accommodation of the supply to the demand, and the farmer was burdened with lease' and contracts. lie had lands prepared, and crops omit anti be could not therefore suddenly decrease the supply which he had been screamed to furnish. Fof the in . crease of prices pit at the present moment, that . hati *tothing to do with the main question. The rise, such ask was, arose out of temporary moan. Two osillintle end a half of think notes had been issued within tho last, two months: this might have had some effect. The specula; tiona as to a war had operated. Then the last hart-Whim lag been very early, and the harvest of the preeentyesr pre saging to be late, there was a considerable diminution la the supplies sent to market As to meat, "gain, there was a Oontriderable diminution of supply. arising out of the ir creased consumption which had taken place during the low prices. The proposal which he meant to submit Si to amendment upon his llon.Friend's (Mr. Western's) modes. was, that the committee should inquire as to the practicabi lity of an equitable adjustment of contracts. He knew that the opponents of this prop4Aition treated it as a propo sal for spoliation and robbery; but how an equitable ar rangement—that was to say, a just one--could be unjust, he really did not onderstsad. it was cont• nded that his proposal led the way to !evolution : he said that the rejec tion of it led the way to revolution. in fact the revolution of property—a revolution far more calamitous than any re volution of Government—the revolution of property had al ready brguu In the country. He said that a revolution of property was a greater calamity then a revolution of govern ment; but the one, as we stood, would'involve the other. The existing system went to cat up the hereditary aristocra cy of the eouptry. The nobility would be among the most esosiderable, as they were already among the first of the suf ferers; and the house of peers, changed to a house of paupers, would hut ill rake its part In government and legislation. The Noble Lord then proceeded to comment at some length upon the admirable speech which had been delivered the even ing brfore by the Marquess of Titchfield. That address had shown Is much depth of research as brilliancy of talent— Much .peculation had been made upon the probable effect of a war in regard to the financial system. The fact was. that we were unable to go to war: the country felt that: the nations of Europe felt it as strongly at the country ; and the consequence was..and so it must continue, that the Go vernment were driven, in no light derter, to compromise in foreign ilego:lrit , ons. To prove that he sod his Honour lib:, Friends, who thought as he dirt, were not proposing any V.ing now arrantahle or unjust, ate would trouble the House for their atten'icn for a few Instances which he had e •llected in which their principle had been acknowledged and acted upon. lie first quoted an .rid Scotch Act of Parliament. id which, after various proeisions for securing the currency from fluctuation, a rinds* was introducer?, which enforced the necessity upon eoltable grounds of adjusting all bonds and contract; to the new standard upon that and every other considerable e'tfation effected in the currency by the go vernment of 'lre country. Another Instance of the same Principle t,e'..4 acted upon was to be found in the corn missioeAstifeh was appointed to France to settle the rela ri'.:ery of debtors and creditors, after the confusion Intro duced into the money transactions of that country by mesas of acsignats. This was a measure, the House would observe, which affected the people of France In all the de partments. The commission did sit; and to give an ex ample of the minuteness and efficacy of their labours, be foam! that in one department Dieresis' a difference made in a debt of 100 limns (the terms being adjusted accord ing the particular period of time) upon consideration of a term of 4 years and a half and five days of 3 soul and a half. He thought that there could be no further argument upon the alleged difficulty of effecting an ad justment after this example, especially if he were to add the consideration that this Government bad deprived the people of their only proper remedy—the recurrence to two prices. Another instance which be quoted, was the settlement of individual claims ander the Act of 19th Charles 11 after the great fire in 1666, by which Act a commission was erected, consisting of the Judges of the Courts, for the equitable adjnstment of payments. — There were 436 acres covered with the ruins of 13,200 houses, and the labours of the commission lasted six years. In like manner Cars::r reported in his Commt . taries,and his account was confirmed by his historian Sue tonius, that during his wars with Pompey, there fell wit such a scnrcity of money in Italy, that debtors were actually incapable of aett'ilg with their creditors. A • Commission ir as then established, and the result of their labours was a decree for the payment of one-fourth of the original contract; and that measure has the approval of another historian, Henry Bankes, Esq. of Corfe-castle, who thought it was an equitable and prover adjustment. After various - other arguments to prove the necessity of affording sortie and essential relief to agriculture. be concluded by moving as sn Amendment to the origi nal motion, the folios ing addition, " and also to consi der further of sonic remedy for the consequences of such alteration in the currency, and among other things the practicability of establishing an equitable mode to.adjust contracts. Mr. PEEL declined any prefatory remarks upon a sub. ject so fully sad frequently discussed. lie considered this e most improper time to introduce the motion. The trans actions of the country had been conducted now for two years uponthe faith of two distinct decisions of the House,against entertaining the motion. He would consider the question under this view bid the general interests of the country require the H-use to go Into a revision of the currency, and have any persons suffered so injuriously and unequally as to make an equitable adjustment of contracts necessary? Distinguishing for a while between mercantile and agrleut tural interests, could any man doubt that with respect to the commerce and manufactures of the country, all the lament. able pred'ctions which had been pronounced in that House had felled? While they were the wonder and admiration of Europe, they were too apt to f 11 into despondency—they were, with respect to-die nation, too great-hypochondriacs. He would beseech the House only to look at the manufac turing and commercial interests, and say whether they did not present the most satisfactory indications of prosperity. He knew that it would be easy fel- some gentlemen to state, that in particular parts of the country with which they were connected, 101130 distress was still felt ; but he would coin pare the general state of those interests at the present pe- Dad with that which bad prevailed at other times since ISI7, when the causes which were acid to have been produced by the Art of 1819 could not have existed. He knew that the agricultural and other interests had been affected by the cninge of the currency, but he denied that the Act of 1819 was this cause.--(Hear.) He would prove that the same evils had been pointed out before the sdoptiun of that mea sure. For this purpose he must take the liberty of referring to a very able speech of the Hon. sod Learned Member for Winchelsea (Mr. Brougham), which was a valuable record of the then condition of the manufacturing interests. He hoped the House would not consider It unimportant to the - argument, that the change of the currency had affected that great mass of the community upon whose labours the, prosperity of the country In no small degree depended. If, he should seek to show that they enjoyed greater comforts now than at any former period—if he couldprove.to the sa tisfaction of the House that this elan of the people en joyed in peace the honest fruits of their industry, be thought he might fairly urge that as ireason why the House should not tamper with the currency. The Hon. hit/saber for Witichelsea, at theend of a speech delivered is that House on the 13th of March, 1317. on the sub ' ject of the trade and manufactures, had proposed Resolu tions. one of which was, " That the trade and manufac tures of the country are reduced toe state of such unex. ampLd difficulty as demands the actions attention of this _ „from. -- 'et towing passage:—" Trade - and land are lialtataclito other, and mnst wax and wane together : so that it shall never he well with land but trade moist feel it, nor ill with trade but land most fall." Fallowing the course which the Hon. and Learned Gentleman had pursued on the occasion to which he alluded, he (Mr. Peel) shaulfi proceed to show the contrasted prosperity which the manufacturing classes at present enjoyed, and to convince the House. as be , hoped, that better prospects , most arise from that improvement to the agricaltural intend. Ha had, early in the present year, addressed letters to those local and municipal authorities which Mere best caleelnted to furnish the information he want ed, inquiring of them minute perieulars respecting the thannfacterieg interests in their particular districts. He should apply the result of those inquiries to the points Urged by the Hon. and Learned Gentleman; because he thought that would be a fairer course than to mention them arbitrarily, and as might best suit the purposes of his own argument. He would begin, therefore, with the clothing district, in which that Honourable and Learned Gentlemen had said that in 'lBl6, from the calculations which bad been furnished to him, there were only 757 men in full. an! 1,439 in partial work, while 1,164 were entirely idle. The account which lie (Mr. Peet) bad received from Huddersfield was that the the prevent time the working classes were better employ ed than they had ever been ; that the wages of spinners was 255. per week, those of weavers from Ws. in 21.5. per week; that the people were in petfect tranquillity. and that the number of buildings had increased. The pears' rates, which had been 10s. in the pound from 1815 to 1821, fell in the latter year to t3s.4d. and in 1822 were reduced to 6s. Bd. Sheffield, though not a p Art of the clothing manufacture, was so important a place, that lie might be armed to mention it here. The poets' rates in that town had amounted, in 1820, to 36,0001. ; in 1821, te 35,0001.; in 1822, to 19,5001. ; and it was estimated, that in the current year, it would be only 13,0001. The buildings had been going on in a state of satisfactory in crease, and tenants were procured for the new houses without difficulty. Could there be a greater proof of the advantage which must result t o riculturists ? The number of consumers bring increased, ag the relief to the growers was certain. When the last census was taken, at which period the Bank restriction was in operation, there were 1,600 houses untenanted In this town—in the last year there et as not ore. At Halifax, the labouring classes were generally well off ; the poor rites bad been reduced, and a large 'acreage had been made in the num ber of houses, which were let at from 71. to Si. per an. num. So much for the clothing towns. He would next proceed to Birmingham, which presented a fair symptom of the condition of the iron trade in general. In 1817, out of a population of 34,000 souls, 27,000 received paro chial relief. One third of them was out of employment, the others only at half work, and the poor rates amount- . ed to between 30,0001. and 60,0001. In answer to the inquiries which he (Mr. Peel) had wade, lie learned that the working classes were now well employed, that there was uo complaint, no dis loyalty, and that in the town of Birmingham 425 houses had been built in the year 1822. The poor -rate which, from 1817 to 1820 had been 52,0001., in 1821 was only 47,0001. and in 1822 only 20,0001. hav ing been reduced considerably More than half in the last two years. Were these, then, not proofs that the work. ing classes were in a condition of comparative prosperity? He came then to Manchester,of which the lion.andLearn edGent.h ad in his speech drawn a most melancholy picture; bat he regretted toss y not more melancholy than true. Ittihad taken the pains to calculate the ge rate of wages of of 1,000 men for a week. Daring the restricted currency it appeared froth that calculation that in 1802 they amounted to 13s. 2,i. per week; in 1812, to 6s. 4d.; in 1616, to Si. ; and in 1811, the melancholy and alarm ing period at which he spoke, to 4s 31d. He might well have asked how it was possible for these people to support exkence,and naturally paused at receiving for an swer, " that these miserable beings could barely purchase with, their hard and scanty earnings half a pound of oat. meal daily..which, mixed with a little salt and water, constituted.thrir whole food." Such was then the con dition of the cotton trade. Now it was carried to a greater extent than had ever before been known ; the ;misfits- of the masters it was true, are not large; hat all class's were comfort able. The buildings bad increased, the country was tranquil, the wages of one spinners now amounted to 30e. per week—be was sure the House would feel interested in these details, homely as they were, and he did not fear exciting a smile on such an occasion (hear, beat); —those of the coarse spinners from 20s. to 28s ,those of weavers to Isis., and those of silk weavers to 16s. The poor rates in 1820 bad been 23,0001, and in the three-cleaners of she year IS S 2 they bad only amounted to 15,0001. In Bolton, which contained 36 townships, the population had increased by 8,600 persons, and 850 new buildings had been erected. Here he closed all he had Welty upon the manufacturing interests; but lie would ask whether any stronger proof could be given than was contained in the details which he bail troubled the House, that fur the advantage of their interests, at least, there was no necessity for revising the cur rency? Ile would ask, not attributing to the Bill of 1819; the merit of having caused this improvement, whether it would not be unreasonable awl rash to make any alteration in it ? He now approached the subject of the agricultural interests. He admitted that they la injured tinder a grievers depression; but the question now was, whether this had been caused by the restora tion of a metallic currency, and whether a revision or equitable adjultusent of all contracts could remedy or relieve it? Referring to another speech of the honour able Member for IVinchelsea in 1816,and to a speech of the Hon. Member for Essex (Mr. Western) in the. same year, both of which had been, as they deserved to be, printed In the shape of pamphlets, it was there stated gist the agricultural interests were then depressed at least as mach as they are now. The Hon. Gentleman proceeded to argue, that according to the showing of those hon. anniverp, by the speeches referred to, the causes of the agricultural distress were in no way connected with the *currency, bat proceeded from the long war and the un natural Impulse which had been given to speculations in land. The change of the currency had had no other effect upon the agricultural interests than to arrest that alarming depression which it was then suffering. He was satisfied that no cjiange in the currency could pro allies any effees upon the aaricnltnral interest which would be worth the risk which must attend such a mea sure. He would suppose that the standard had been fixed as the rale Lord (holkestone) would have it. at 41. Is., Instead of 31. 165., would that have d o ne a n y good ? e. Hear, hear," from the Opposition.) That could only have operated to the effect of about 3 per cent.. and the complaint was, that the agricultural interest had snffer ed a depression of 50 per cent. (Hear, hear.) He mast suppose the honourable gentlemen opposite meant by their cheers to concur with him; if so, he would ask whether it was worth white, for three per cent. to alter the standard? He then addressed himself to the only point remaining—dist of the question, whether It *as for the interests of England that all the con- WSW should be diiturbed? He professed the same opinion sew es he bed done in 1819, and thought the addition to the rburdens which the measure of that year ha.; occasioned was amply compensated by the stlventages whith had resulted from it. The noble marquess (of Titchfield) asked why any objection should be made to an equitable adjustases— eonslitatiy Noble I borrowed! worth s.. Lodll g o t_ It is worth 90e." The Noble Lard seenteihi forget that it bad been many times at other sod higher valves, and even above a. (" Hear," we belies from Mr. Westeen.) Ile [ wished to know whether the Hon. gentleman agreed with I him, that it wu impossible to fit the Mint price of gold. so it would be absurd to attempt to effect en adjustment. It appeared, thee, by the showing of his adversary, that the depression had been caused. not by the bill of 1819, bet by the contraction of the curreaey and other elkettofike pewee. Why then ell the contracts since that period taut be set aside, and placed upon the same footing as those Mace 1810. These the Noble Lord (Folkston.) said, were few ; but bow could he reconcile this with the opinion of his noble friend (the Marquess of Titehfield), who said, that daring the last two years there had been a ij rest revolution in pro. I pert} , ? These argu meats must pair of together. or like opposite umbers in an equation. must destroy each other. The Honourable Member for Essex, who last ye a I proposed only to attack the contracts since 1816, now re commended the adjustment of every contract since 1790-- Let him consider how Use changes in the currency which had happened since that period must affect the mosey contracts of varloui individoals. It would not be fair that the settled contracts should cot be adjusted as well as those which remained. because that would be withholding from the man who had faithfully performed his engagements, a relief which was extended to him who had failed in them ; and how was it possible that tbe public could have any Mare faith in the decisions of the House ? The Noble L,rd (Lord Folkes tone) hod stated one instance only of ruin which had befallen a gentleman who had purchased land, but he had not stated what pert of hit friend's loss was to be ettributed to impro vident speeulation, and what part to the change otcurreney If improvident speculations were to be the subject of equitable - adjustment, why should the Noble Lord limit abet adjustment to speculators in land? Why not extend It equally to every commodity? which assuredly would else enough employment to any committee. The Noble Lord (the Marquess of Titchfleid) had stated that we were in such a state that we were unable to go to war ; hut what, he would ask, would the equitable adjustment on a change of the standard do towards furnishing the mesas of prosecut ing a war with success? The Right Hon. Gentleman then adverted to a passage in Mr. Western's pamphlet, which glanced at an increased issue of paper as beneficial, but he (Mr. Peel) world never be one to vote for any tampering with the currency. From the improvement which had taken place in our commerce, he augured well , for agriculture; and because he did not see the possibility of adjusting the one ten thousandth part of the contracts en - teed into since 1793 ; from the reasons which he had heard and understood, • sod from these which had not been explained, he should de cidedly vote against the proposed inquiry. Mr. H. G. BENNET ridiculed the argument against inquiry drawn from the period of the Session to which we hail arrived, particularly when it was recollected that Parliament had.been kept sitting the whole year, on owe occasion, to give countenance to perjury and fraud, and to give effect to the efforts of malice and treachery ; and could it be thought that the House would be leas willing to extend the usual time of its sitting i fit were necessary to do an act of justice ? He contended, that from the coincidence in several instances, (which he adduced) of high prices of commodities with a large issue of paper, and low prices when the issue of paper was diminished, that the whole of the evils which we had sustained were ascribable to the immure of 1819. The Right Hon. Gent. hai quoted the poor rate of two or three places ; it would have been well if he bad given the amount of the whole kingdom. In 1812, it appeared that we paid in a depreciated paper currency 6,636,009/. I a the year end lug March last, we paid in a metallic currency 6,300,000/. so that estimating the rates of 1812 by the standard of what they would now command of the necessaries of life in metallic currency, they could only be said to amount to 3,300,0001.; and it thence appeared we were twice as poor, twice as distressed as we were in 1812. He attri bnted great part of the misery in helm ! last year toilet; tnalions in the currency, and contended the inquiry was fitting, if it were only to show to posterity the necessity for the injustice which we commi:ted, and the impossibi lity of Will a remedy for it. Mr HUSKISSON apologised for troubling the House on a subject which he had so frequently, discussed ; but the manner in which be had been called upon by some Hon. members, compelled biro to say a few words. The feeling with which be came down to the house was, an expecta tion that the bun. member for Esse:, following the exam ple of the Hon. Baronet (Sir T. Lethbridge), and yield ing to the reasons which bad swayed him, would have withdrawn his motion, particularly as, in addition to the reasons which induced the Hon. Baronet to come to that determination, there was this circumstance in the case of the Hon. Member for Essex—that since he first agitated this question another year bad elapsed, under which the country had had this condemned currency ; and it was agreed on all hands that the longer it existed, the greater was the difficulty of any change. The Hon. Gentleman (Mr. Bennet) had himself acknowledged that the inquiry was desperate as to any practical relief. The Noble Lord (the Marquess of Titchfield) bad stated, as a neces sity for inquiry, that the aristocracy woald be rained, torn from their paternal estates, and reduced to seek a I miserable existence in a foreign land—that, certainly, was a highly coloured picture. Another ground of in quiry was, that so long as the present state of the omen ey existed, ire were so crippled, that we were unable to go to war. If he (Mr. Huskisson) were persuaded that there was the slightest foundation for the fears of the no ble lord, the evils were of so grave a nature, he should seek a remedy at whatever risk. Another topic was, the universal distress of all classes in the country • as proof of which the hon. gentleman (Mr. Bennet) adduced the Otte of the poor rates. If the Hon. flentleman's state sent was correct, it would not surprise him (31r. II.) that the poor rates had increased with our increasing re• potation, and in consequenr^ of the growth of abuse is the system which was bat too liable to be abused, Mr. HUSKISSON concluded with opposing the MO. iioll, and was followed by Mr. MoNcx, and afterwards' by Mr. ATTWOOD, who high supported it; but our limits oblige us to postpone the remainder of the speech of Mr. HUSKISSON, and the whole of those of Mr. ATTWOOD till another day. Mr. WESTERN waved hie right to reply, and the House immediately divided, whew there appeared:— For the Motion 21 ; Against it 96 ; Majority 69. The other Orders of the Day were then disposed of, and, at a Quarter to Three o'clock the House adjourned. • We rejoice to learn that the British Ladies will Hot be wanting in exertions in the cause of Spain ; and that a sub scription la contemplated to originate from some of the most distinguished for rank and fashion. This example will doubtless be followed throughout the kingdom, and the fair sex will show, as they have alwa y s done, that in a noble and worthy cause, they are not to bo unrivalled by the Lords of the Creation. CHARITY CHlLDZlN.—Yesterday, the Charity Chil dren of the Metropolis, toils male and female, to the amount of 10,000, went to St. Paul's, according to an nual custom, where the usual ceremonies took place. The Sermon was preached by the Bishop 9f Calcutta, and the Psalms were sung in line style. The Duke and Duchess of Gloucester, Princess SoFbia of Gloucester, and many' of the Nobility and Gentry were present. The Royal Horse Guards Blue, are ender orders to hold themselves in readiness to repair to Ireland. They will leave Knightsbridge barracks on the 2.lth instant, for Windsor, to relieve the first regiment of Life Guards, there os duty, when the latter regitnent will re taro to their old quarters, Knightsbridge barracks. PRICK OF STOCKS TAIIS OAY AT ONE O'CLOCK, Bank Stock 2181219 I India Stock 2 per Ct. Red ' SO} I Ditto Bonds... 325. 40s.pia. 11p.C‘Cons { Es.Bill ' 2d. ( 19, 2ls —spin: Ile per Cent 022 I 10001. I par Cents.. .. - . New Fours ----lasiTs 21: 2141 pa. Lone Ann 20 7-161 I Lottery Tickets ..... 12/.Ss: lmp. Imp. 3 per Ct. Vte *tateontan. FRIDAY EVENING, JUNE 13, ltY23. CASH PAYMENTS. As we mentioned yesterday, Mr. WESPTIS brought for; ward his motion for :Committee " to take into consider- " ation the changes of the currency since 1793, to the present time; and the consequent effect upon the ne . " ney, income, and industry of the country; the amount " of the public debt and taxes, with reference to their " money value; and the effect which such changes have " wrought upon all money contracts between hulls'. " duals." Such a stupendous inquiry was never before proposed ; and, however necessary, if it could be accomplished, becomes an abortion from its utter impracticaldlity. The lift of no man in existence would be long enough to get through this en quiry, with a view to any practical result; and all the sufferers would have passed off to their final account, he. fore any measure would be adopted for their relief. The veils resulting from a return to cash payments mart Is &wee. This is inevitably the case. There is no fund or of which to reimburse the sufferers ; nor any means of compelling those who have profitted by the measure, to refund their gains. The thousands already rained, and the greater number who stand on the brink of ruin. by the resumption of cash payments, must bear their fate with what fortitude they may. A return to a paper currency would neither prevent the ruin of the latter, nor restore the former to their rank in society. The mischief is absolutely done ; and there is no remedy that can be applied. Mr. Canning's metaphor, which was inappli cable to the Chancery system, applies here. He asked, alluding to the confessed mischief produced by the esta blishment of the Vice-Chancellor's Court, if a mar, whose leg was broken by a fall from a window, ought to bp'throwp back again, in the hope of mending it. By 'removing the Vice Chancellor's Court, you (au remove the mischief, and prevent any further evil; though what bas been done may not be in all cases within the s of remedy. This would be making the beat of the acci dent. It would be mending the leg, ..nd taking care that no more limbs were broken, and that nothing was sat, red to retard the cure. But to resume paper currency to keep op a wor•ta.ration, while the price of provisions are at a peace rate, would indeed be to throw the broken-limbed man back again into the window, at the risk of breaking. his neck ; or, at any rate, of predating a fever which would destroy him. It is the policy of the managers of the English system, to keep messing the pressure of the stale-engine from one class to another. Mr. Ricardo thinks they did not see the mischief about to be produced by the proposed return to a metal currency; and that it w•as from neglect and oversight that they adopted Mr. Peel's Bill, without taking those precautionary measures which Mr. Ricardo recommended. But that gentleman mist ikes them far more than they mistook the nature of a rit ten to cash payments. There are some ill-tone. toted bodies upon which the unequal direction of the sustaining powers, will occasion large wens to rise ott those parts which draw mare thus their share of the nutriment which shoal' be common to the whole. Al the close of the war, this max was on the shoteders of the agricultural class. They bad made the largest profits the war, except the Placemea and Pensioners. ■nd a few Stock-jobbers. They had t ecuraeiated among . "' them a great mass of wealth, of which the indications were mach too apparent to escape the eyes of the Pensioners and Placemen. The old farmers drank port and sherry et the market tables. The young ones kept hunters, and sporting dogs. The female portion of their families, learnt Music, played et Cards, and were subscribers to Circulating Libra ries. There was nothing wrong in all this. Wealth. pro duced leisure ; and the leisure was devoted to amusement. — This is the werel course of society ; and those who re proach the farmers for having abandoned the coarse of life of their forefathers, might as well reproach them with proving their system of husbandry. But though there was nothing wrong In this, there was something dangerous.— In Turkey, the Greeks and Jewish merchants ere very fearful of the supposition that they are wealthy, lest some satrap of the State should seize upon their posses sions. In England, the power to do this is not quite et so summary • nature as in the East; but it is equally dangerous to permit a Minister to discover where the wealth lies; forks has as certiin,though a more tardy means of getting it into his po ion. In short, it was seen that the farmers were rich—they had also professed themselves very toys"; and bad done the State some service," against the Re_ The point at issue was, as no other point could bear further pressing, whether the interest of the debt, the taxation, and the'-salaries of public functionaries should be reduced,—or whether an attempt should b e made to throw die unliminished weight of all there opus the landed interest ;, thus relieving the other classes fur a period, and enable them to accumulate a little, to be 0., timately taken (rein thew again; when the bard grill of the system had squeezed the land until it could hear so more. The latter alternative was adopted, and the expe riment has answered; or, in the Parliamentary phrase, it has " worked well :" 'fbeta,...:s have beer prid thus years longer—and only a few thousands of farmers lave been ruined—anti a few . ilundreds of landlor.ls h3ve gobe withoat rent. These are trifling matters. One of oar Senators very coolly reanirked, that " things would hers " come round, and that althoogb the *wall farmers •' most be ruined, it would be all the better for the large " ones." This was a patriotic member ; and if patriot' care so little for small farmers, what can be expected from Ministers. In the mean time, the taxes were, is fact repealed, to the odic chases o Society, by the re diction In the price of provisions. They were e rul ing themselves to be ready for a future squeeze; sad veli ... . . / V THE STA ' z - •.. ~ --- . - - - - •- -- .. . Honenrible ati e tii * ~ et , i t ve to, t h e H of . al _ .. tr er r i t,was la itself so h ' jest. He (h r. hIAII-8. i , Pantry was no 1 4 4 41 erotgb pie • • pOlbssincltesaf the mile- 'Peel sip stalp * ly because he co .es impossible ARR. her. ARK. DL N. e. that it * „" 7 ealFete4bi '. Oat tlleditstresesi anskrwlitell raeatis oCitcelliaplielling such as oblate. FASO coold Tell I.... Dublin 0 I. .Holland 0 Nora to exert 'Aspired. and asked ho*. if inch Wai the condition who were the creditors and who the debtors. when the in- I....Waterford.... .t.) I....Hsrobro 0 Portarlingto . .._......—. • afaotariag claims, was it possible that tbe Mildest, were mists/Ply eta oghig t•• Bal." said the o. •• •G ill Jorsay ••• • 1 0 . •• • France u itry labour , ea tnrarinteresii could prosper? The Honourable Noble Lord...* I borrowed mousy when the poood-aote was li• •• • Lisbon .....Oottenbern... : I t o°. ...Flanders u 41 that they and Leeerned tlentlentan quoted on this sub)eet„,fronx Mg. wrth oplY HO.. gni tailed upon to pay it back when . . . . it s worth 90s."'Flee Noble Lard seemed to format that it FMCS OF STOCKS TAMS DAY AT ONE O'CLOCK: 1~~ i . ^ -- 11 1 ~~