The British Press; or, Morning Literary Advertiser. — London, England, 1815-03-03 00:00:00

~s~-;••,,~~ lately occupied their attent!on. the knew there were !tenni ti:, mitint a in that House, who were friendly to the, expres siert of public feeling, on the que,tions of peace and war, • ar, a earicty of others, tinnily important—and yet those %ery pertons would out permit the people to deliver their sentiments on this subject, which mainly affected them, Withunt stigmatism.. the expression of (heir opinion, as Mere clamour. He * lilted to h. ar the opinions am' tretiti. *tents of the people on all subjects —( (tear, Ator.)-e. lie teas pleated to see them vent their clamours in petitions to th it Moamar--' (le sr, hear)—.'inter that the Call m. of their di• content might he removed, or that t h e impropriety of their emophaints iinght be pointed out On the slib . ;ect of the price of bees I, Ann* all others, their sentiments, he conceived, ought lu he attended to. No mail representing a great Pity, as he did, could he ignorant of the general wants and necessities of the poor—and those want.. a n d necessities most be evidently inerenerd by any measure which tended to *ohmic, the price of bread. The feelings of the people were, therefore, perfectly natural—and be could may with great confidence, that their selitiments were now precisely the seine as those they manifested last year. The people of li.istol, in the Petition he flint had the honour to premmt, ' , hewed that their ideas ~n the 311hil'et remaiiied unchanged -sod. he was sore, if time were •Ilifsrld by the House, the .riiiri• ..('the entire population of the country would curiohointe his me , Mr risers stated, that he had received a letter from the Ilfa)or of Bristol, relative to the Petition then befor e the Mum. The Mayor informed him, that it mas nut only anal nuincronsly lint must respectably sive d—and that it ' sp... . . undivided sense of the people of that eitt. Ile was 111.1• • t •ii 1,..4 4.1.• Li:ought forward, and thus: who supporter! the measure, bad lint .1 e ithieet in view, the he. Befit of the c aaaaaa inanity iii general.—(lferve,hcfr )--Ile in:- Lived the interest of no particular party we t s Ptieriapted to be inward by this measure—hot that the Hsprewntntivea attar Country consulted the interests of their Constituents aw molt as their own--(Neer, Arm( )- —Fur lio , own part, lie was inclined to favour tire measure ; and, in rot log ogainst it, as be had hitherto (11111 C, he spoke ratlwr the seutoitents of his constituent.. Ilion his own ; and th;s, perhaps, was the only question on a hirh lie won't' run wild to sacrifice his opinion to the sentiments of others.— (lleur, hear.) The Petition was laid on the table. 11.nrel 1111:rOX presented a P. titian *gaitd any 'alteration in the Corn Laws, sigma' by 15,000 persons, inhabitants of Sheldel.l. Laid on the table. Sir JAMS MUM presented a Petition from the Ward of Cripple vie, praying that on alteration .bald lee made in the existing Laws, respecting Corn, until a sistlicieut time bad dared to enable the House to judge of the ((Fret which ileatl would have on the commercial, trading, acid antvieultural interests of the country. The II oirahle B tr. .:I e 1 said, he was instructed to state, that the iiillabitonts . of this d'art were duly sunitunned to consider this rine.- , Coo. The meeting took place in the parish church, and r was ntter.!..l by a greater number of inhabitants that was ever ;mono to have been assembled there, un oily °erasion, in the memory of man. The 'meting au.: conelsteted in the most regahor i.iaaner, and the unanimous sense of the pro. pl., was exper.sed against any iitterfereme vtillt the present Corn Lows. ; ,, ;:i previous attempt was made to procure the ' Si:nature of names—lint the moment the IN titbit, was I. n * r or sizi l at ',cry, persons fume ere ry part of the Ward affixed their mimes to It. There was no ,listinetion of party, of re. I li gine., or of per ifession, attended to. All the inhabitants of the IV:er.l united in prayinl the !louse to alietain from • mak ng the proposes' alterations The P.M:O i was laid ion the table. Mr. if e.t.t.istt prenentad a Petition, siznerl by his, per. MIN intwhitaiits of the parish of St. Luke, Middlesex, ' against any alteration in the Corn Laas.—Laid tin the table. . General Woe presented a Petition from certain inleehi tatita of Stamford, inlaying a 'seinen of the Corn lam...— Laid on the table. INMA-BUILT SHIPPING. Lori I.►ter.LLEl prise nted a Petition Iron the Ship, builthri of MD and Whitby, in York...bile, playilin tlmt ladia-bni It ships in ay,nut be permitted to antis the poet,: a this eountry--Laid tin the INSOLVENT IDESTI/RS, !kir. LOCK !TART prearntill a Petition front the May. r, Mari awn, and Corporation of the City of Oxford, pi ayiii,l for the repeal of the• Insolvent Wawa' Act.—Laid on the table. PROPERTY TAX A Prtitino was prevented from Nurttuimptoo spins! the renewal of the above Tax. PORT OF LONOON. Sir J u.xn bronxitt up the Iteaolutioui of thr Committee appolge.,l to examine the Act of the 42J of hie M•Cu,t . e, for the lit moot of the Puri of Usoluu. The kraohl aiouß wire 4,..•.•erd to—and Stave was giveu to bi giu a pill to amend the said At. COUNTY R ITE BILL. Mr POLE CAREW Our( i * L• le,twe to bring in nan fur amrndhig the Act of the IYth of G u. II fur filo more easy ro!lecting, and tering County it a t, ▪ Mr. SISAW LT Crete, slr.Cavertionsrr, and Mr. Pare ▪ laiL each a few words.—after which leave was veal to • iii the Hill Mr. P. CAREW tlturlly after intr.ithired it. It tr:ui read the first, and ordered to :,e read the Lecwid time on naday and to be Iliugwood, front the parish of gt 31ary-laltornie, prt • loaded an account of the expenses of Peeing mid Lighting Bite said Parish, fur the last year. ALIEN ACT. (Ur. 11. iloatieraole rose to call the attention of the Ilouw, fur one mieneint, to a statement, winch, though it did not ntlect himself, materially affected the credit of the office to which he belowg ed. It would Ire recollected, that the Dom Mem ber fur Bedford (Nlr. Whitbread) had on the pre ceding evening, adverted to a case, which, he said. came within his own knowledge No," said Mr. Whitbread.) lf, then, it did not conie within Ins own knowledge, be ought to have taken care to inform himself fully on tine subieet, lwfore he had allnsiled to it. Ihe circumstance on which he touched, related to the c Ina of the Secretary of Sunlit for the Wane Department—and the lion. Gentleman (Mr. Whitbread)• put is pointed qui-- tioa to him, with reference to it. The ease adverted to by the lion. Gentleman was that a enr.,,R:. Portuguese, who was said to have been sent out of this country, and, as lie had exwesseel it. Si s'sipped ' to the Britrils"—(" No,"frum .3lr Whisbre ed / because the Portuguese Ambassador l:ere, the Chevalier De Souza, would not sign lini license. Ile confessed, at the moment the statement was m a d e , Ins mJiJ J WU MIS. that no such thing had ever ra-corrcd. Ile then observed, that he had never heard of such a transaetion, and that the name of . the individual was quite new to him ; but that it night have occurred during u temporary alawnee from his office. This day, however, Inc made in quiries on the subject-4w asked his Noble Bela ton (Viscount Sidmouth) wlwther he recallocted any thing of the affoir—arid Witi ann3weretl, that no ends case had ever occurred while he was in the de partment. aial Aunt Ire knew nothing about it. He (19r. H. Addington) then searched the books of the 'llepailment, from ;he period his Noble Relation Si. became connected with it, and the result was, that too such case was to be found, no such name was Inelilinlted, as that to which the Hon. Nlemlier hurl drawn his otsaduen.—(ll€4,r, heur.)—Th, n om • w a t er ~ko tle,i t ed to k i ..,,w whether any rule lexisted, in the office of the t bone Department, for Ivrtveating Portuguese subjects., (for lie seemed to confine haanself to Oscan) Irian feilti4sitiiig iii• this c:;statry, ink-s trey le d'a wises sisal I.y the Pm-. th . ' ttegnese Minister at this Court. It now could it!. form the Hon. Gentleman, that no such rule either does, or ever did exist.—( Hear, hear.) Mr. Witurntatesen said, be hail riot made the statement alluded to, as one that he contd youth for, from his awn knowledge. He then held in In' hand, the representation which induced him to notice the subject —and, at the time he referred to it, lot expressed his hope, that the Right Hon. Gentleman would he able to give it a full C011till• diction. In adverting to it he might have made a mistake in the date, and Ie was sorry the Right Hon. Gentleman had not examined the books a lit• tle farther back than he had deemed it necessary to go. He had not made any charge against the re lation of the Right Honourable Gentleman, bet he had reprobated the way in which the Alien Act had been executed-- , and he had spetinrally stated, that the Noble Lord was not in the office during the whole time that the Act had been iu force. The rule, he understood, formerly *as, that no Portuguese subject should be allowed to remain in Great Bri tain, eivitlmut a license from the Portuguese Ambas sador and the cirmonstances of the case, us repre sented to him, were these :—The Chevalier Conejo, formerly Charge if' .4flitirer to the Court of Stock holm, came to tins country...lint having made him self obnoxious to tht: Chevalier tle Sousa, the latter re:tried to sign a license for him, and he was si-nt oat of this country, with a Messetiget from Mr. Prder's office, in the most summary way. He (11r. ‘Vhithread) diet not assert that he was shipped from hence to the Brazils. From this country he was seta to Litilion—and, of his Own accord, he allow ads proceede Ito the Brazils. lie there laid his ease at the toot of the throne, and received a pension, and various honorary rewank.—(ilear, hear.)—This statement was not now disproved, and he hoped the Right Hon. Gentlenmo wonid push his inquiries a little file-Bier, and state whether he meld find any trace 01. . Mr. 11. ADDINGTON said, he understood the cir. ennistance to hove been noticed, as if it lead hap pened while the present Secretary of State for the 'Lowe Department was in office. If it were other wise, why should the question be put to hint ? How could he be expected to answer h question, of which he could not he sulyte.ed to know any thing ? Under these vircusnstanees i he thought, in common, he believed, with every Gentleman in the !louse, thud" the einit 4 e whip i was made referred to the conduct of his Neble Relation. Alr.*WititukEsu said, he hoped, as the Right Hon. Gentleman wet now set right on the subject, he would make a more extended inquiry. With respect to the igaorance of the ltigl.t lion. Gentle man, on the e:ISe alluded to, he (.lr. 11'llitliread) conceived that lie paid him a compliiiient in asking for on explanation of what had occurred, before he belonged to the Dome Department ; because he supposed that he was perfectly acquainted with the atitecedent proceedings of hie office, and could at once call to his mind the circumstance he had stated. Mr. H. ADDINfiTO/4.—." Who was iu the office, when the occurrence took place?" Mr. WIIITDREAD--" Mr. Ilvder." EASt INDIES._ Mr. W. linEwr. wished' to call the attention of the !louse to certain proceediugs, of the highest importance ' that had 'vividly taken place in India. It appeared, from a late Calndia Gazette, that an officer of rank was tried, by Court. Martial, for having extorted money from the natives, for his own purposes ; and, in his defence, he admitted the fact, but state d that it was a customary proceeding. The Court-Martial, however, in opposition to the evidence, and to the petition of the accuser, ac quitted him. The circumstance afterwards came under the cognizance of the Court of Directors; who expressed their unequivocal displeasure at his conduct—and observed, that, but fur certain dr cumstanres, they *mild have caused his name to be erased from • the list of the India Army.— They also declared, that if any case, of a similar kind, occurred in future, it would be so dealt with; and, if the Court Martial did not inflict all adequate punishment, they would cause the tlclimment to be suspended, unesent to Europe, by the Hist opontuoity. - The I lodourable Mem ber then is out the necessity which existed for giving due protection to the natives of India— awl was litoce(xling to • tadvert, with severity, on the conduct of those who, in the person of the offi cer alluded to, tolerated a dangerous abuse of au thority—when he was called to order hy— The SrEAKER, who said, that the Honourable Member's proper course would be, to give notice of a motion on the subject—as the !louse could not Ise converted into u place fur mete general couversit- Mr. WALLACE stated that the subject to which the Honourable Cent!ennui referred, bad been very seriously examined. Every means had been adopted, to prevent the natives from sufferiug any oppression--mid he was sure the result of the steps which hind been taken, would be found perfectly satisfactory. MIMMOK;IL FINANCES OF IRELAND. Sir J. NvvrponT travenoti!:r that he would, on on Tuesday tte'nuight, call the attention of the I louse to the !state of the finances of Ireland, with reference to the charges which were to he made on them. - On that day he hoped there o nub! be a fill attendance of Menilperti, as he would introduce a subject, which had been too long neglected. In order to .chew the. Muse the magnitude of the sums that had been taken from the revenue. by the existing stamp regulations, lie should more—,... " Th.tt there 'be laid before the tionse an at-could of all vim's moury paid to the Collet turn of Cseisc aad Cu. tom. Int Irelitud, fur Stamps, daring lot )easy hut past.' —Ordered. WINDOW TAX 1.11;.1 Sit LTON stutCd, thatl; was desired by a uonsidemble menthe, or his constituents, to ask of the Chauct.lcr of the Exchequer n question, rela tive to the proposed extent of the new . Window Doty, This questi )))) &inhumed two points. One of them referred to the manufacturing counties— those, he meant, where cotton factorit, were erected ; which required a greater number of windows, than was necessary for Ihe mere petrpose of lighting the The other ec hoed to those large !thugs, rolled cloth-halls, a leiclt were so numerous in the %Vest Riding of You kshire. The a indows of these establishments were not formerly chargeable—aid his Lordship wished to know, alietlier the Right Hoer. Gent:emits, natfaitt INOW to extend the new duty to them and to the factories? • Tile CUANcELLog of the EXCUEQUER said, ._...... k._~, with respect to the charge on the windows of facto ries, it was his intention, when the consideration of the Resolutions was resumed, to propose a modili• Cation of the tax, by which the ch=ime on those .buildi nt v: would be diniinished. As to the build- lugs which were made use of as cloth-markets, and which were termed cloth-halls, he had never hereto fore taken them into his cousiaeration. It Wll3 a subject worthy of inquiry - hut he did not know on what principle they could be excluded from the operation of the tax. As, however, they came un der circumstances of a more peculiar nature titan other !Adding% it would be proper to lookinto the subject, berth! any decision took place. Lord LAscELLes said, that the building's, termed cloth-halls, which acre to he met with in Leeds, flalifax, and Huddersfield, were of very great extent. The miniulucturer exhibited his cloth in them for sale, puyitg a certain sum for a stand, for that ptirpose. If he did mint sell his ! ,. t oods, on one marbet day, they remained in the hall until the next—and in no other way were those build in; % used as warehouses. They were, iu fact, rather markets than warehou s es. The CHANCELLOR of the Ext.:tallyEtt auid, it wag probahle, front the tenure by which they were held, and the profits arising from them, that the proprietors would be enabled to pay the tax. He would, however, be happy to receive any in formation on the subject. BANK RESTRICTION. _ _ _ _ Lnrd A. 11 __ATITI . ..T - o.;;;vsTelit — r - tik;i;nrpose or sub- witting to the House, a motion, orarly couiwuted with the snbjett of the Bunk Restrictions. About a fortnight' ago b the Ri Gent. (Mr. Van sitter!) gave nonce of his inteution to move for the renewal of the Bank Restriction Bill. He (Lord A. Hamilton) left himself (Idled upon, iu come.- quence, to declare his intention of submitting to the (louse, a motion for the appointineut of a Com mittee to inquire into the situation of the Bank, which, ha couceiverl, ought to precede the decision of the Legislature on the measure alluded to. This qnestioa appeared to hint to be one of the very first importimce. It involved a variety of interesting con 7 sideratioms—even the question of the torn Laws was interwoven with it. The Bank Restriction Act was now on the eve of expiring—and therefore, it was highly oes•essitry for the I louse now to decide, if they sale:boned. the renewal of this measure, to what period they would permit it to extend. Al though he wus very far from approving of the queue tity of paper now in circulation—and should be sorry to see any addition made to it—yet lie was not about to argne, that it would be proper to reject the measure, at the present moment. The motion, therefore, which he should propose, would not call on the House, directly or indirectly, to suffer the restrictions to expire. He conceived, however, that Parliument should have some information before it, prior to their agreeing to a continuaisce of the measure—although the Right Honourable Gene ' tleman opposite always seemed to think that it ought to In, acceded to, us a mere matter of comm.. What he wished to know, was, whe ther the Book were or were nut hi it state of difficulty, as to the mea n s of procuring specie whether they did or did not desire a continuance of those restrictions ?....whether or slut they posseirsed the utetlui Of resuming emit' payments they were or were not taking steps to resume moose payments ?---and, in short, u general inquiry into every branch of the subject. It would be pro ver that the House should look to the immense iacrease of the huller issued by the- Bauk of Eng , laud. At the time the Restrictions were first Un posed, iu 1797, the Baulz•notes in circulation amounted to between 8 uait 10,000,000/.—the last return from the Bank of the amount of their.out smutting mites, stated it to be 31,000,0001. Surely no gentleman could contemplate the progression. from 8 or 10 to 31,000,0001. without pertviving the effect it Most have on every commodity to the cont try. it must he obvious to the (louse, that in rou st-limier pf this power to issue Bank notes—a power to which there was no limit—very little, if any standard of value remained in the country. Such a power as this, too, must evidetiey he viewed as a mighty engine, by which the best in terests of the country might be destroyed. At the stone time, he was very far front thinking, that those who now wielded it, would attempt to abuse it—or to convert it to any improper purpose. Still, however, it was a power which ought to he looked at with a jealous eye—and Which, as soon us pos sible, ought to he withdrawn. The answer to this objection generally was, that die solvency of the Bank could not be doubted. Neither he, nor any other Gentleman, he believed, entertained a doubt on the subject—but still he was of opinion that the public should he clearly informed on the subject. Our of the first points lie would like to be in formed on was, the nature of the connection be tween Government and the Bank or England. This connection, previous to the introduction of the Bank Restriction Bill, was always it subject of jealous scrutiny. This very Session, a circumstance of great delicacy had occurred, which related to .this connection. Ile alluded to the continuance of a loan of 3,000,000/. from the Bank, for a certain pe riod, without interest. Was he to regard the prompt acquiescence of the Bunk to the proposition of the Chancellor of the Exchequer, as a sort of bonus for the continuance of the loan ? When lie consi dered all the circumstances of the case, it appeared to him that smile little feeling of this kind was ob servable iu the trausoction. If, however, this were the tact, that consideration lie conceived was by uo means equal to the benefit 4ibtatined. The next point which be tihoidd subunit to the House was one of considerable difficulty. Still, however, lie con ceives!, Minrioation might Ire afforded on it. He al luded to the enormous profits derived from the Book. The capital ofthe Bank was 11,600,000/. lu the Year of the restrictions, and for some years prior, the divi dend was seven per cent. The interest fluctuated, since the year 1797 but, it was notorious, that, since that period, the bonuses given were so large, as, with the interest, to amount to 110 less than 561 per cent, on the capital of the Batik. The bonuses *done, amounting to 7,000,0001. sterling. So strongly was he nuprestird with thiri part of the subject, that, two years ago, he submitted a motion to till. Home, for the purpose of limiting the pro 'fits of the Bank, by which a fund m i g ht h ave b e en raised to enable them, at very little notice, to re !some their cash payments. But, how f u r the Bunk were liable, at any expense, or at what expense, to • reinstate the currency of the country, it was fur the noose to judge. It was said, that the paper . or the Bank was not forced into circulation ism; ,turne than in any other country: But how could thisis sertion be maintained, when Batik paper laid, in fact, become it legal tender? • It was rite only re source a creditor bad, whether lie was a landlord or a Bank annuitant. Auothei point of thquily, and our of very great importsoce, was, whether the Bank felt themselves boom, iii good faith to the public, to replace their tokens, to their full no mival amount, in sterling coin? The whole cur rency of the country, boto metal and paper, was in the hands of the Bank ; and be bhottlil be happy to know, whether they inteialed to replace, at Huy. or ut wlutt risk, the accustomed pub.ic stamlard of %aloe in the country ? This was . nut au evil that would cure itself. It would not recede of its own accord—but it would, every day, while suffered to exist, more and more affect all the other con cerns of the country. They were, for instance, at present debating, whether an article of first rate importance should lie sold at one price, or at another;- ,amt it was evident, that this question must be mainly affected by the state of the cur rency of the country. lf, therefore, they did, not examine the question at the present period, they would be obliged to do it, when the etil was still farther extended—when it had affected a greater variety of interests. And, in the same proportion as its magnitude increased, in the saute proportion would the difficulty of considering it be enlarged. Another point of importance was, the propriety of the Directors of the Bank giving their opinions, ut what price, and under what circumstances, they would make an attempt to restore the metallic cur rency. The price of gold, very recently, was F. per °mice, by the heist returns it had risen to 41. Now, as long as the Bank were per mitted to abstain from cash payments, and as long as it was in their power to fix the mint price of gold, which they now possessed, they had, to all intents mid imposes, unless the House examin ed their affitirs, the power of continuing the reitrictioes as long us they thought fit, lie meant to say nothiog against the persons utthe head of the Bank ; but lie thought it fair to argue, from the general priociples of human nature, that they tai ;ht be. inclined to pursue their own interest—and he had certainly shewn, that it was completely in their power to continue the restrictions for any time they pleased. This subject was of the utniotit ctooe mitice, as it respected the finances of the country. yiur the charge for Exchequer Bills was up wards of two millions sterling.—Beforeake Bank Restriction took place, Exchequer Bills were converted into gold—und for that convenience it was fair that a charge should be made.— But what was an Exchequer Bill 110 W con. vetted ? A Bank note—one piece of paper for another; and yet for this the public were to pay :4000,1)00/. auimalle. They were doomed to ex pend , 2,000,000/. yearly—for what ? Why to effect a forced circulation of Government paper. This was a state of things which it became the house to inquire into, and to remedy, if possild.. lie did think it would hetinjost to say, that they should hare no Firther profits till they made g ood the niv,. eurreuty of the country. If such a uwastm.• bore hard upon individuals. who hail nut dcr.t...st theose extensive benefits liom their stock which he hod describe.!, compensation might he afforded to theme. Ilis Lordship concluded by moving— " That a Commmitterhe appointed, to examine and state the total amount of outstandinz demands atTailit. , the Rank of England—and the funds they possess to meet thetstone. To inquire into, and gate their opinion on, the etfects pro. duced on the commercial interests of 11w country, by the several Bank Restriction Arts passed since the sear 170. And to report their opiuiou, bow far, and under what lb.. Intuitions, it would be expedient to coutinue the same." The CuAttect.Loh of the EXCHEQUER said, the proposition of the Noble Lord weut into a variety of curious circumstances of political eco nomy, which, if they could be follovred up, with out injury to the public service, might he of great advantage. But, at the present time, he did not .think they could be safely entered into. It would be a summary answer to the Noble Lord's motiou to state, that he was about to submit tri the House a proposition, which would coutine the Bank Re striction to a definite period. It would be his object, after the preient maim' was disposed of, to state a limited period for the termination of the Bank Restrictions, in the sanguine hope, under the circumstances he should state, tluit no farther extension, after the prescribed time had elapsed, would be necessary.—( Hear, hear.)—He was sure, in the view his Majesty's Government had taken, that, if they did not think it ne cessary, for iessous of State, to continue the mea sure, the Batik would be ready to proceed in that course, which tin exigencies of the country hail occa sioned them to abundon. If they did not, the cir cumstance would not rest with the . Batilt, but with the Government of the country—atid with them, indeed, it ought now to rest. It was nut the Bank that originally wished t 9 suspend the poyment in cash—circus-lances of a public nature obliged the Government to call on them to adopt that measure. lie had tio objection then to state, that the period at winch it was his intention the Bank Restrictions should cease, was the sth of July,l 1816. At the eic- Oration of these sixteen montlisi, ie thought there was good ground to hope, that there would he lIQ further occasion for renewing this measure. He had fixed the period for commencing cash pay aortas, as near li t e close of the next Sessie2i of Parliameot as possible, in order that the suoject might come before the House in the fullest and moist intelligible shape. As the whole of the Noble Lord's arguments were founded on a supposition, that the Bank Restrictions would be continued to all indefinite period, he thUnght it lordly ne cessary to enter at length upon a refutation of them ; yet he should consider it en ill compliment to the Noble Lord, if he passed them over without close examination. The questions which the Noble Lord had suggested should be submitted to the Com mittee, were, first, whether the Bank etas iu a colt ; dition to resume cash payments, and whether they were taking steps to prepare for that event ; next, as to the a metiou between the Bank and the Govern ment ; thirdly, us to the profits of the Bank ; fourthly, e s to the circulation of silver tacos; and, fifthly and lastly, as to the state of exchanges, and the price at which the Bank wns purchasing gedd for renewing their cash payments. Ile thonght, even taking the Noble Lord's own view of the subject, that no measure.cottld be wore calculated to de- '_ Ti 14 / feat the resumption of cash payments, than t h e very inquiries which be wished to be made ; far, if f` t 4 once the iAllormation which these impiiries would d. ;live were published, it would place the Bank at the mercy of every speculator in bullion in the country. With respect to the first question, as to whether the Batik was in a coudition to resume its cash t payments, and the amount of bullion in hand? hr could only say, that the iuvestigutiau of these circumstances would be attended with the worst possilme consequetwes.—(Jir. 11:hiibread here said fl`r across the table, " Hare a 4ccret Cominitice.)— Esen if a Secret Committee were appointed, it tt mild be extremely inconvenient to diselose these • anattens.—(Cries of Hear, from the (lpposiliois Benches.)—W hen a Committee of Seeresv was upp ted on a fusilier occasion, their procejdnigs were made public; but in what manner, or by • v:lioai they had been so revealed, lie knew not. It was sufficient to say that much Miasma:wiener itad resulted both the disclosure; mail in a questioa of s uch delicacy, any public discussion must he considered as extremely dangerous. ln the ex ionisation of Snell a subject, it would, of course, become necessary to call before the Committee the iwrsons Who were employed by the Bauk in the purchase of bullion; and heuce a risk would be mit of exposing the private transactions of that burly, mud thereby platoug them in the hands of the speculators, who were always ou the alert iq matters of that kind. The Nobly Lord would rc,' collect also, that, besides the Bunk, the . Govern must were great purchasers of bulliou fps the public service ; and they also would feel iniativc- • nience from the inquiry contempt...hal, as the tie ceasiary consequence would be Mu enormous eh. huncenient of the price of gold. lie would sub mit these observations to the judguirsit of arty Caen flown, of practical experience, and he was satis fied that his conclusions would be pruitoumetl in every respect correct.—The second branch of the Noble Lord's proposed inquiry was, as to the aLl educes made by the Bank to Gees:Fitment. it had been insinuated that these allowances were given, in the first instance, us au inducement to extend the restrictions; if so the food for restric tion was very limited, for the ',erica' of its filial ter 11l ill ation would very soon arrive, lie could as sure the Noble Lord, however, that these advances bad iu no respect trenched upon the capital of the Batik, nor would they ut any period interfere with the resumption oleitott payments. The third ants jectof mvestigation which the Noble Lord proposed was, as to the profits of the Bank. If the Noble Lord was able to chew the introductiou of the re-: strictiou had added to the profit* of the Bauk, he should 61'1 this a lair sulyieet of inquiry. lie denied the fact ; but whether they had or not must ever remain in doubt, as it was impossible to as certain what would have been the event of thingst which had never existed. What the profits of the Bank would have been if those restrictions had out taken place, no one could tell. But, as he before stated, the restriction was a matter of State lnky, and had no more to do with the profits of the than it had with the profits of any disinterested.in dividuul. The House would recollect, that at the time the Bauk itestrictums were first is:acts:ea, the public securities ware at a eery Low t.b444,W ; the 3 per cent. Consols being down at 411.. dud 47 per cent., and all other securities were depres.sed in the same degree. Those, therefhre, who %%vie iu pus.. aeariou of large capitals, made cumulous profits ; and as had been stated by an Hon. and lamented Member, whose abilities were known to,ali, wimhe Ins death was univc4sally deplored,—(/Jour, hear) 4, - -(Mr. Henry Thornton)—at that blue It fit of eighteen per ceut. was made on .t.luveru went securities. That being the ease, it was obvious that the Bank, which was time greatest of all the dealers in public set:tunics, must baio made profits to an enormous extent, indepeiident of any change in currency whatever. At that time, the Bank had divided u indium in one Geniis, but they were never able afterwards to wake so large bonus. Front hence it was fairly to be deduced, that their profits were not wholly to be ascribed to the restriction.—(Hear.)—The Noble Lord next wished it to be ascertained to what expense the Bunk would be put in resuming their cash pay at du, amiss, il t wi ti ii;d e eful i eed i glet: ta de Committeed the t , they w is er w e a j s e a w q i u n e o s i it had oy owre tihiue o w hich This he knew, 4 the Committee once entered is to inquay of the price of bullion, the comequetice roer be ainte , ilut t s i s its pa t edev i : w ilate n t e eio i li v vl o so u ttil l .lo d du b itda e ke l e o n a tolu : i s eu d 7 t u o iliii, l l l i l u l, tiiri a tei u le6 l but knavery and fraud would be the result. Lord A. Hasett.rott said, he had no Isiah that /^ , the Committee should inquire iuto tise:e minute rs, circumstances. The CHANCELT.Ott of the Excnrouta said, if the Noble Lord wished to retract any part of his ar guments, there certainly could he no 01j4,c11044 to such a proceedimr. The last head of n.quiry t o . which the Noble Lord adverted, was the wive' . rency. His Lordship had proposed to inquire, whether the Bank would be ready at a frame po riod to replace their tokens with the regular silvte currency of the country ? Ile appiehended the Bank would ut all times be ready to diseltirge their tokens with the standard coin of the country ; but lie did not imagine they were bound to connne them,' selves to silver coin alone, conceiving that paymelits in gold would answer every purpose. From tinge payments he was sure there was no wish to shrink, With respect to the silver currency itself, this was a question winch must be referied to the period when payments in gsild were resuMed. IWing now answered the main heads of the Noble 1.41 a lA'S a and conceiving that those arguments w r e e T i e n it eu ul t i 9 ded on the supposition that the cash pdy melds were to be postponed to an indefinite pt-nod, he trusted he had convinced Min of the absence of allnecessity for the Committee for which be lam moved. The principal evil which had been com plained of, was the difficulty of • fixing a statidaid 'value. This was isubject which had alreaily bet". so much discussed, that he did not consider it ne cessary to enter upon it than. Whatever Mem, venienee was experienced on that •score, - however, would vanish in proportion as the vieue of bulimn was diminished. The Noble Lord had alluded to the 'mintier of Bank notes -which were iu Circu lation, and to thein:reafie which had taken pl ace h i their issue. In 1811, the circulation of notes -.4 uintiunted to 24 millions and a half, and the Joe-