The National Register. — London, England, 1819-02-08 00:00:00

?VB. 3 Pima the mod in et Lord PALMINStOR. the sum of oi e million was voted, oa account, for the laud forces at I,„, ts alit' inroad, excepting the East Indies, for the current year. Mr. CaLcoarr wished to know how it liappeued, that money voted by PArti infti t, for a certain period, came to be ap plied idler that period and expired. Mr. VsmsITTART observed, to.ii the observation of the Hits. Oeotirmou applied to tbli whole of the hCr v ice of the year, The money "rut not toted prnwertively, but retro. ;peetively ; Slit if any reivi lined, it 'night he aqi,lie , l to the purpose fur which it had 'peen voted, after the time bid eapirail, 'fhe sum of 24,9111,0001. was theta quoted fur the Exchet;ner Wits outstanding stud anproridod tar by the Acts of the last year. Mr. GbeNTELL wished to call the attention of the House to the traiisnctioos between the Public and the Bank. The sank Arrived advantages to the 14111111111 Of GOMM. anott,,ity from the balances in their heath: arid, gin particular, they derived a profit of 120,0001. from the . Irmo of three millious to iitiveriameut, though Oink losti was ouly a part of Dime mil hoot of the public money io their hands. irlr.Vsnarr. taws' said, (bat the transactions between the ill ink and the Pituile would soon undergo s strict iiivestign_ two. A new arrangement was its contemplation, by which the pribito would have the benefit of the balances in the hands if the Sauk. What he had stated nn a funnier e•c.iili;, meeting ilsit rciiitylueut Of the money due to the Bank, was, that, out of eight suillions, five bad beets repaid, and the re rosinitig three were secured 'limit the revenue of the ',resent 'ea r, lie bad been always wilting to take np the subject of the transactioi s ',Omta tiovertimarit a n d the Bauk, and the Wink was willing to lend 1 cordial eip-uperatiou. ;qr. Moons thought. that thr public money shoold be kept in the public Wtelteqimr, and not in the coffers of the San k; and hoped, that at length Ministers were about to learn ere weal. WILD ANIMALS. Mr.Lairsoh observed, that It had been said of him that it 110 fief) a iellow feeling that he adtocatsd the Call ie of the fits motors, The fart was, that his attention hail been called to the s ubject by the cireinustance of a man having hero for PlOlllll% tame ferret*. The Twelve Judger had derided that he way halite to nit ponisliment, as they were wi:d beasts. Bat the ferret was a moat usettil animal. especially as it was the maint enemy of the rat.— loud Laugh.—lle wialtvtl to protect all tame animals, even rats! theni,elvcs, could they Ire tamed and made to decoy °that' ot their species into their toils. The Han. Gentleman moved tar leave to bring M a Bill, on the 22d of February, fur tlee protection of wild ani mals recloiiiied. The Gallery was cleared, but no division *auk place; aid the autumn, as we uuderstitod, was lost. TUESDAY. The Sr;•Aireit stated, that he bad reeeived Iwo Petitions, moplainiag dam UilChit Election fur lite comity of Galway. Petitions were then tit eseirted from Reittliii2, Kochester, and Bristol, consplaiiiing of nodose elections. 'filo two first were oides.ll to he tal,eii into colipideration on the 11th, and the lait on the trlth or Much. Several other Eittetion Petition., were elllO divosect of. CASH-PAYMENTS. Mr. TILIt Kiri( rose, and stated_his object to be, to move fur the appointment of a•Coinnsittee to inquire into the effect produced by the suspension of Cash-payments on the us change with foreign countries, and on the cis eulating me dium. It was nrideistoodthot Ministers intruded to continue toe Restriction Act to March, It 120; and the question was one ot the most important that had been aeitived since the ranro'ittion, and was becoming a (epic equally popular with talteisal Sofres. or Parliamentary Reform; aid he was disposed to think the Petitions on the subject had been tiro toted in (hemline mainter. The only reason that he could sue tut iiequiry being opposed, was, beanies it came from his Sde ot ate House, and that he was the mover aril. He ad mitted that the .paiueiplea laid down in the Report of the 4.....mint.ttre formed his.creed. The question had be come d ti: tent from what it bad been berme, as •it was no longer time of inc.. abstract reasoning, brit whether the cir. , mlattou could be restored to its former state.Mtich alarm had aad lit en telt ou the subject : and it had beta said, that should tomtit' be resumed, the country would be ruined Such a doctrine had caused is him no surprise, after Vie long twin &&&& *nee ot the Restriction Act. It was sane :Mated uy men of considerable influence in the country ; and, tour,, the truth, by u passel 101 l body; who attempted to con trout both the Bank the In Many of them were men of the fairest character ; but the tail was fainted by others Of it very different description; men of no capital. who had uevr-traded themselves, and, on that account, tvislted to keep the circulation as full as po•silik., and whose Pain %VOA be inevitable open the Celaril of it metallic cur. Tetley. But it was extraordinary in& ell that Clielaildithuuld tot have the same citeulating medium st ith all Europe be'- dr. It ine Chancellor of the Emlieltier was not an MAIM' Clint in the hands of those Olen, lie :• 01 at lenid lent than r.ieeti.ai aanstanee. No system of 'insure had beim (stir blibtleli Miler Ike peace, nor Ind any attempt hems made to : - rot lb. y from its &Menhirs. The object of she omwelrbr or the Et/cheque" was to make if believed that the tictiow and the emptualiture would he equalized.; and the :ale was, that he paid tttl so much debt with alit Sinking l'And, and added as teach to it by the issue of Eschequei Bills.—. lea'!—la the years ISIS and 1517. the toll 3 unt of Inv p0p. , 1 ro et:inflation had been extremely low, and the ( halicei;or or the Exchequer, with an air of triumph. seemed to ha..• dou b t about payinr of: the Four or Five per heat•. taut ion after the Bank of England ands he Country batiks L their circulation, and that leas the reef cause ul lila. triumph. If the situation of the country e not teo:keil .It at ell; .and what would be tue consequence . ss ar 6brewl; mill Would to Heaven he euulsi prevail upon 010 opensite side tocomient ! lf, after GYP, Or el Itost Pon, yroo• of peace, we were still to proceed with tilts pave' acetrro .t.lll-.411 enquity, let any Gentletnaolaybis baud numb his brad, miss! consider bow &radio! wound he the rouse- goon, es, it a Wile, or even ant iiiinJuietit, were In niter. , rue t Whri resumcrvuad We hat paper; whot inestis of sti pporting •ourset•es, but by one piece Of puller piled Anion another Toe R.g,it Hon. Gentle-mail would :Los, no doubt, .` is the menus entenee ? roam to regret Ihat tlsc re senile .• oneinehted , ? Mal 1 has e been able by she ware of to reduce the rate of isiterest i" 11.' (Air. , would indeed rejoice if he (Amid p•r.olade hisiesei; that Mob...bed low Gale tit holes v4i ponrerdr d from sound m6:l wholesome rouse ; but it, on Ille rO• I 554 • tu aan eXtlllV44ifili enussiau o f ooreei, it Was Alert Luise> and dentition to hold 0 , 114 noeen that never Clinks Lc realised. The low tore of inteteet an the emit& y Irma the excessive tarns ul p.. psi, rind had It d Lt. • wave. .▪ .a.l fluctuittious in the fund:, tn the gicwt t ial a " "' al a THE NATIONAL REGISTER. certain race of men. In 1817 the 3 per Cents. bull been 133, and in the emu se of eight months they had risen to 34. He himself should he sorry that the 5 per cents. should be paid of by a forced paper circulation. He should call it a (rand upon these who had place.' their money in that (nod. The pie-tent system could 11101 gut en; though lie had on doubt that many were of the opinion that there was no need of re- Pliing to Cash payments at all. The ohs ions course was, Ihe appoinfnent of a Committee, n Melt would tarnish ma. t: rills tar the consideration of the House. Ile saw to rem sssss ag4.uht the return to Cash Payment*, a* the <vitiation related to the currency of the country. The foreign loAus amounted only to 12 million* at the beginning, which were to his paid in dine tumults ; wnich stun had been afterwards reduced to lY millions ; the time eveet4ed to 27 mouths ; so that the SII.II to he sent out the country was cid) , 330,0091. per tnonth. Atli, that by private individuate. When the Bank I egatt to take steps to pay in specie, the Storks had fallen, and those fluctuations had been productive oS" gain to twilit' men ; while, on the other hand, the lo+er. lmd t,een those who relied on the declarattoto. of the Gove.siment. The present Chancellor of the Exrlieqtter called for more unlimited con • Silence than Mr. Pitt bad reef* illoiie it, the plenitude of his power. He (Mr. Tierney) hail offered to excliamge motions and pluoa with hint (A loud laugh) hot the Bight Honourable Guiltier/Mil Max out to he moved. 'llse Right Honourable Licitilimueu had pposeui all enquiry, till it had been rearm mended to Min by the Do ectors of the Batik. He had no doubt that the Stank was prepared to pay in specie ; butt in theattutiun or' the Chancellor of the Exchequer, there was a sweeping clause us to other matters, that might mean any thing or every thing. Hr himself only wooled distinct an I owe is to dart ent paints. If the House could stand by litin, the Right His .oni Ault Gentleman would give way, as lie had done on a forme' occasion. After the opposition he hid given to the inutioa of Itia Hum Friend (Mr. G11.111'0), lie had now agreed to all that had been demanded. The case of the In come 'f ax moist be fresh in the recollection of the House, and tha case would be the sante upon the present occasion, sleitild lie (Mr. T.) hate the suppui t of the House, which lie tilatight lie bad a right to claim, as all his predictions had played to be right, and those of the Chancellor (tithe Exchequer to he erroneous. He could not believe that the House would re ject his motion, out of compliment ta the Chancellor of the Excheriner, whose oltject was to skew his strength in the nom Pailianient • ' and a better opportunity could nut possibly be afforded to new Members, of testifying their devotion to the Minister. —The question was, as to the ap pointment of a Committee. There was no ground for se erecy as to the general question, and, with respect to th• affairs of the Bank, he should nut object to a Secret Coin nisttee, so desirous was lie to come to a grand iiiidtrStaaLliag with the Right Honourable Chancellor of the Exchequer. The Right tlonoteabie Gentleman emu-foiled hie soeecit by anoslug—" Thai a Committee he appointed to enquire into the efleets produced on the excliauges in foreign commies, and the state of the circulating muclium, by Ili. Restriction on Cash Payments ; and to report whether any and Nt bat reasons exist far continuing it beyond the petiod now fixed I by law for its termication." Mr. VANSIiT.tRT expressed his surprise at the coorse which the Right lion. Gentleman had taken, who hail flist given a notice of a motion on the state of the Finances. 'this, however, he had entirely abandoned on his (Mr. V.) giving notice on the present subject : but even here, as it would appear, from no other reason than for opposition, the Right Ilanumaule Gentleman bad proposed a motion less in extent than his. 'lite Right Hon. Gentleman had accused Minis:ers of doing nothing ' P , towards reducing taxation, or the burden of the punlic d ebt. In contradiction of this cisertion, he would show, that in three ycaus from the termination of the war, tiie people had beets teleased from a burden amonntiog to at teas' 14,Mm,0001. of taxation : and Ciere bad also beets paid oil Irma 15 to t 0 millions of unfunded debt. He chal lenged the Right Hon.Gentleinan to contradict this statement if Ise could, from whseb it appeared that Inoue had been done in these three years, than its any other period of peace since the Revolution. On the present occasion, Isis object as writ as that of the Right Hen. Gentleman, was enquiry ; and, as both bad the same object in view, he trusted they should not differ inateriaily u to the mode. lie had cc. tainly conic down to the House on the first day of t;,i! Sessnsii, and given notice of his intention to propose a silost prolongation of the Restrictions vii Cask payments, and hid nut then mentioned any enquiry ; and be hat refrained from doing so, thinking that the enquiry would have been better delayed till nest Session of i'arliament t by which time the confession into which the financial systems. net only of this country, but of every Government ou the Continent, was thrown *mild have Subsided, and the enquiry beets gone into with more advan tage; sod he should, smiler that permutes. have proposed a coatinuation oldie Restrictions till March 1801 but eirenin. stances had arisen which induced him to think, wills the Right Hon. Gentleman, that raqiiiry was necessary, and he would gn further. The Right Hon. Gentleman only pro posed to enquire into the 'Weil which the Restrictions on Cash payalielill liAll on the Exchauge. Now be, by Isis proposition, proposed to go foram , . and enquire into the state of the Bass of England. The Milt and pi oniinent liar, of the rnquisy, us it struck him, was an etiqiiiiy into 'lse Bank, and the preparations they had made towards the resmaption of Cash Payments, and several other collateral circumstances. These 111111111 J all he embraced by his motion, withal the Right Han. Gentleman's in stion would exclude them. The Right Hon. (ientleosin insist be awa e, how ever. of the danger of R public disemsstre of all the concerns of the Bank. His motion would as Mil that inconvenience. lie should most fur the appuintinent of • Committee to s tiqnite into the state 01 the Bank, relative to all matters esciketed wdls the resumption of Casts Payment; into the expediency of now resuming suchpaymen ts and that the .sid Committee should report to the Hoase the result of melt • asp.iries is far its they could without itijnry to the concerns of the Bank. '1 Isis *Mild be Isis 111(111011, uul nouldoss he concei v ed, Igo further than the .Right Nomial- Gentleman's. Wilts respect 10 the exiciesion of ' the Itemricsions, if such should be deemed expedient, is would be desiratile that the resumpl ion of P.O Illitllls SllOlll l l lie so liked as that it should sake place at a pet Mil at which Pailiament was *Mine. The Committi e would bassi tnnels to iuto they would enquire into the state of she exchanges, the state of the foreign loans, and many over swivels; some of which it neiglit he improper to make 1.0 ;;; it • ; but II would rest wills Biel; 1111 l not :re 10 stisettlisibAle is, it ws %Shea 11.14111 wish as.rty be 'Tutted to the Reuse, and what 004 W, eu4si•letilly wills the politic insist eat, to be withheld. The Bigot Isou.tiruUrmlalacourluJrd It) an altattitlAtetil, uuat.aU the Nut& in the original motion, spur these, " That Li 0114 ..oillei be apro.alleti," 11110014 Ite Ira otst, and the (f)r: 0 ". ins me his, rico empiiie into ' the State. of the Bald. of England, the Exchange, and olber inattrre cunuected with theßeimeiptionur 14.) qIIS, and the expediency of takii:g off the Restrictions; mud to eport the result of itesl enquiries, as fer as the same CU11.4 be re ported consistently with public interest; shit th-ir observations thereon." Mr. F. Lewis, like every ether Member in the House, bad listened with admiration to the excellent speech of His Right • Hon. Friend; but all his ariconseots, however convincing, had in all instant been overthrown by one sentence altered by the Chancellor of the Exchequer: that sentence was an ae. knowledgmeut that the Babk VIM not yet prepared to resolute their Cwili.payments, and an entreaty that parliament would appoint a committee to investigate their affairs, and to assbe mem. Before he could conent to this call on the part of the-. Hoek, be mast see the Bank make some attempt on their part. This they might do by reducing, to a certain extent, their paper circulation. and sce what they were able to do. He would say to them, us „limiter is repress tited to have said to the waggoner, who called Oa hint to assist its getting his waggon out of a slough, Set your shoulders to the wheel, and exert your own strength ; and then. it you call upon me., 1 will kelp you." The Hun. Gentlemait sltoncly teprobated the present system of fictitious capital and riches, winch led individuals into epecnlations that ended in theirritia. lie implored the /loose to return, as fact as possible, to the good old E11,g11611 Claittlat of payment with cash, which, he said, alone would save the country. Lord CASTLEREAGH could hot but consider the preempt question as lying in a very narrow compass, since all fiat ties were now agreed on going ism the great, important, and ex tensive enquiry: though he must say, that he had agreed in itivition with b a Right Hon. Fiend, that the Restrictions on Cash-payinents might, dot obvious reasons, have been con thalami fora shout period, without further enquiry. With respect to the Bank, he was in jostles bound lousy, that they had acted as hunottrable ores cud good amens. The Direct ors had stated that they were prepared to resume Cash-pay mews at the time appointed, if they might be allowed to con duct the affairs of the Bank only with a view to the interest of the Beak, and to slant their tars to all the wants and sup linications of the Public. They said, we (the Bark) ran take cert• of ourselves, if you Call take care of the public, which we caunoi under take to do. This honourable declaration, es the pal t of the Batik, had sliewn the necessity of a further continuation of the Restrictions ; and now an initniry was about to take place, prematurely, as lie eousidered ; an infor mation issuer satiefactory to the public would have been ob tained by delaying the enquiry till nest Session. Thu questien was, vs littler, by a premature opening of tke Bank, and re sumption of Cash-payments, commerce should be ruined, mid tee commercial world thrown into chaos and confusion. The - Noble Lord then pioeredi d to contend, that the resumption of Cash-payments, in the present state of the exchanges, would entail on our maeufacturers a 10S4 of at least 7 and a 1141: - per teat. and tern the Bank into an recharge for liruktrs, and Jebheis; as our maisulactureis would have to complete with geld at 31. Ds. 6d. per ounce, instead, as was now the ease, having to complete with it at 41. 4s. ; and nut a bale of goods would go out of this country but with that lose upon it. He defended the Bank limit the odium which had been tltrowu upon it, of excessive profits. The Ralik of Eng. land ne.de no greater pro is on the suspen.iiiii of Caslispils ra cti ls than other hankers did, in proporiloll to toe automat of th en . capital- He lied never witnessed any interested motive w hick had operated on the Directors of the Batik to refrain e roa , c a shing) meuts whenever the stale of the exchanges was such as would admit of their resuming studs payments iu a . manner beneficial to the public. Fur the reasons he had stated, lie wall of opinion Cast - payments cuald not at pi mut be streamed. m AB ,or,e, entered at considerable length into a se view of the. Feuded and Unfounded Debt of lbe country ; the la tti r of which, he contended, bad been allowed to increase far beyond what it °tight to have done. He contended, that memo was necessary; the dust 5 17. 11 7 . 0 1 ,, e u s in r i :I t s ici s e n i c i e i l ett C w as o ll U P li d i :l ire to fund oar Unfunded Debt, the next to reduce our taxation, stud to reeeme Cask pay thews at once, and not partially, and then the exchanges would soon return to their original state. He was aware it might be said, taxation could out be reduced. He was fear tat it could not be done; but Ire was persuaded, by an ex change of taxes, lour millions might be gained. He would propose to repe.sl the vexations Assessed 'Taxes, which bar 'betted tile tradesman and middling el , and sorroundid their helmets with TaX.gatilttel S, Spies, and Informers, sad etihstilute for them a Property Tax-- Hear, 'mall—lle - pected this cry 1 but he worthd again repeat, repeal the LS 1113Sfed feso., %%Inch peoduced about 6 millions ut Yr.:talons taxes, and substitute, not an IaCOMP, but a Pioperty Tax, which should he paid by the rich, the miser, and the ab sentee, which would produce at least lb millions. Mr. CANNING thaught the lime for discussitig the propriety of ',stoning Cools Payments had not yet arrived. That question would arise on the Report of the Commit ter, cod for that period lie would reserve himself. He was out of those who load always considered the suspension of Cash Pa j menm as a departure trout 1110 Constiottion of the country ; and was, with those who sat near hint, anxious to &emit, as 5000 as possible to the old constitutional mode ; aid even as lase des the month of October last, his Majesty's Gavel 'orient con fidently anticipated the resumption of CostePayincuts at the appointed than. They hewevel, found it would be impossibie alit it was contemplated to ropme a continsation till 11120, with a fill deterininistion, however, Not to propose any nuttier pi mongol itoi of the perisol,if stir It should be found necessary, without the fullest previous enquiry. It Ittilk state of titiuga the Right Hun. (iente:man gave his notice, and sults e iptcut tt , that siotice the Bank made such a einumnineation to the Chancellor of the Lueliequer, as determined him now to propose an enquiry. Tilts COaltbStlairatioll, rind tun the notice of the Right Hon. Gent.. had dere' mined his Prlejr ivy a Government to change its course. He reserved to hintself any farther iltiguiswait until smile infotatatioti el mild be laid &Mute the House, cud then lie would toter iota► it with all possitile mildness. Mr. MASSING said, th:o was a great stational question, with edit, IS the Bank had limiting to de. In the coos •e of a very abort time throe had been a reduction its the issue at Batik motet. of 114, less than Ilirce tuiu duns. Mi. (ittaxechhcolitentled, that the amontot of Rank notes its circulation dosing the first half year of INS woe ;peeler item fur the same primal ill atly year airier 1797. Mu. Aldermau Hes CATS:thought a liontaituti of our issues might elect a cat het in the foreign exehatiees ; and h e praised the Directors of ihr Bowls for the mudetetsite cluck they had estried their r%lraurdulary pushers, so tines ',Weill.). thrust upon them In 1797. H was rejoiced that a ..... iitee was to be appointed, by which Ma cud woolJ be pot so the doubt and uncertainty a hich pievatilest through out the Comm) on this great oubjeci. OW tree remrthedrt . of Pie Para municry, rr ae rth I I t•