The Statesman. — London, England, 1822-02-26 00:00:00

_ -; " ' 111111thialle. le AM* Apia!' tidti; — to Miry iligliebewalon of Lineage salliadow..Sf tinriplawwile 11 0 P1Pileffidecwellap N hothefinte Alia** Ile to MOAN/. pe i l i e lsrwippp • portion of this Nock on 'and they ,milli not hi ~Ye edible the plea Whowiehiwo bane. capital foiW .1 sod HO would he tiro dialseter of objaiddirile 4 1 Per Got. Ateeh• #l.• Patent% the plan • • for the careening of dissent Instead of assent. he thought' It'woiso cakoliated to Save ,rushee gow dm altsteiity. The proprietors of i pie e" Pic* were tory ntuntwoes—they aisoeittid .10041 1 09 penes. and short bO.IIIDO of these: Wilt holders of stock to the ass onne of 1.00091. or lessoodb Firma. To collect the sandman, of the hoiden s dp talus would he sent round to thins; they were bin prepared, and they would be ready lo a 1M lame who expressed thole dissent wan bi OA Nino the 3th of Jot} next, in each au Alarii,abent should hereof:or direct. should of dissentients render en applies*" to the stNeet necessary, an event that he ie see realised. However, that was a jice which on a sabsequeot occasion he empties. Mao whether it was likely deka meld. dm paid •en ese thy. The chap. altowed that Parliament lad power of direetieg the form of payment. for *eels purpose were to I. thretted In ✓ioners for the liquidatios of the National bad saw stated Mr. Pethaer'S plant where was departed from. and the reasons for that pine. The fund to be created weal able within a given time—seven years accomplish this object, be deemed to he s.. of the benefit resulting from a tiros adherence emaintaiaaaes of their public faith. It was of the advaotage resulting from the determinetio■ pressed bes:eforth to adhere to meats wade by Parßassein for the public credit and tire restocation of By the operation of this plan, sad by . . . ,f the ordinary taxes, with the 'seepdon tax the business of the country email be carried en, end their public credit sustained. He might be asked, Why be bad not recommended this plan in 1818, as at that period the fund was at a higher price. He consi dered himself bound to testy' his reasons for sot the. s propiaing the present plan. There were two reason* arising out of the efforts making to restore the car reacy of the country, and of the reduction of the charge if the debt. He did not consider that it would be fair and equitable to the parties. to pro pose the reduction of their stock at inch a dope; nor would there hare been the means of a guaranloo against suffering, perhaps cousiderabli to . Frost the high prices of 1818 the prices felt so coedited ably, that had sock plats been persevered in, it meet have been atteasied with lowa to the pantile ur to the public. Ile therefore felt ,That it woo)* %I an ii.jusiice to all parties, to promyte . uny such Cash Payments were restored: Justice aad policy were not then se much in favour oriht plan; Now great remedy of the possarasisa le4llll6*PairretaVllllll supplied, Ike felt that . 14 Vaa, 'Was AO' recammilli this measure. Thete,ftwOoly stet befe g opportunity for the r1*1041 14 ont. ha Mak a pla„aseria•gerkatte as the rawer. di t fralimastasen.' *ld be p l reimded . . fo they gad - appropriated a part of the Sinking Pea I further measures for upholding it had since boa adapted ; and those measures, together with the lie solution of the House agreed to on Therselainight, had placed him in so favourable a situatfoo, as to be enabled to submit his present plan to the boast. At that late hour be ehoeld not tresspsss on the indulgence of the house, to explain more minutely the particulars of the plan; ether occasions would occur for more minutely going into the detaile.- , .. He concluded with =owlet *Resolution. "That everY person possessing portions of the five per cent. mock sod who should not signify isle dissent; for every 401 W, should receive WM. of the f ,ur per cent. stoki that the dividends on such fore per rent. stock be 'pay able half yearly ; and that such newly-created stock be not liable .o be paid off before 1829. Mr. ELLICE, before he made soy remarks on what bad fallen from the Chancellor of the Exchequer, wished to ask one question, which m as, we believe, whether the plan bad been posisively determined open. The CHANCELLOR of the EXCHEQUER re plied, he was nut aware dent there would be any necessity (or altering the nab proposed by Hovers- anent. Mr. ELLICE again rote. He ob;etted to the scheme altogether. The Right Hon. Gentleman bad professed to follow the precedent given . in the instance of Mr. Pelham; bat Ur. Pelhatu's plan was distin guished for its openness, frankness, and fair dealing, while the present plan was only characterised by its crooked principle, by its trick and device. He wished .the Rightlflon. Gentleman bad been advised by some such person as Sir J. Barnard. Ho was sui• that such an adviser would not have recommended the re duction of one part of the debt, by changing. the stock of the holder, by placing him in a worse sitairiun thud that in which he stood before, or by compelling him to accept the terms offered, otherwise reducing bin, to a situation of considerable difficulty. The plan of learning's. 1.0 were the dissentient'', reduced the holders of the stock to such dithculty. If be (Mr. Ellis:o.J for instance, were amongst the dissentients, he should be asked, supposing he desired to sell his stork, how he stood on the list of the dissentient.. Thus being high or low on that list, as dissentients were to he paid off ac sag to the turn of having expressed dis sent, would affect ON sale tof his property. Hart Oil the difficulty arose O tt the Right Honourable tiled-, denten nut having followed that straight-forwaaiilath. which was pointed out by Mr.. Pelona'. MD. The Right Hun. Gentleman had bees obliged to admit that 7.114W,01101. would be added to the public bat :—but if Mr. Pelham's plea had been .followed, the stock would hays been gradually reduced from fr to 411 per cent. and then to 4 per cent. Stab a pins would have been gladly acceded tu t and I. sopfeet of ft there would not have been required asst ice( the Chancellor's loarishlag. statewide& Hot afar the Chancellor of the &limper die etwit al lueriy'S —Why would be allow ethyl tea dt}s' d 4 b ibs Aimentieota to expose their IlliftprOb4l4, .1 . --, T-rw*- _ .2,2;:_ 41Ib blllien of 1$11190i,000i: It;;14 1 to 1. iiii iNtir• bsbosborebspaPpwetillawdlistpltiod of ebo selleare? Atdinkfdatelkwas to be do east dq. /be tiepin tr ‘ ;14,1 1 6 41111* "Oa not 47 ikg 6.044Pe is the ,fr, itais it i p 4 i,doe of the . ',pop sr# 4 . which be "iitehl ' ' 'lttSers. 'flit' rpetly . isd . tbot soalitlenee, ' lidiepreperis at pfiland 'tvittt'io math baste. IN tostad tbOptab so* proposed * Ittairiedisio effeet, wsibl wilps a twettobooli• so !Woke credit. and would Prose higkly Injerione.. to indieWuals. It was sow doss thei. before the . ,pseetpur of Parliament, spasm's done to a Teri 41614.'46 extent had taken Place on the !tirellit seltaiKihiPill with the the to OOP dp the tan& ' Attsorts tf Maas bad been adopesil it totoopilalribie object; lied Jebel the isbjent pas en* 1 . ' t was part of the Noble Lord's sebemito AO% !leek emulation!' were upstream' ellyiejarkes, and the effect had been to " - ink aid ode f rel n faads, as well as ". were ntriCatinir. Nether those who ; in consequence Tito iiii4NCELLOR • of the ENCHEQUHR said they Weald still possess the power of transfertiog the stock. bat considered as stock to be pail utf , and soh * to ). payment in the order in which it stood un the list. 1 ' •411. MABIOILY then said that be teas ienpinion thaighe period proposed by the Right Hoooerable 4ileelteman would nut be sufficie* for the holders of 'this Stock to decide; that a considerable portion of it w*llt the hands of trustees; that the 30th of March email be the better tome ; that in 1749 three month* were allowed ; this the political sate of Europe should be considered ; and that the allowing such a shah time would induce the eantry Ib **pose they wore hurtled ism the mat** • • agreed as to the proposal, hot iihriglouk 14, the time However gnirkly application tlPsetle. Ole qecatiun *gist at use eittu e ,ditfacti ity.• Hi no dotiht of tyat • wish ivere,t.eansfetved i. Lqedi e r e t the iyarkek.44o 'of sake of *EOM itit 1 tad ica 44 4tal In. it. ' irdeitf deireft to explain hy . mblatledatilobllthallmledtto off the ttesninds of th+oelett amid Cara m this proposition. The eg loggias be suppose/1 films tn. lirl.pet:cest-494; - - to Mullin, will withhojk declaring it until the latest nitament---the 16th of Mirth. 1822, lest by declariog earlier, hit Might make • had fiargain. Perhapiit was in the eonteutp!atton of the Right Hernooratild Gentleman to raise by Exclftquer Bills the money with which he intended to pay the holders of five per cents. who might refuse to take foot per cent. in the new stock. He would think it a great advantage if the public were allowed to subscribe to the ave per cent. stock in lien of those who mkgbt dissent from the Right lion. Gentleman's measure. Mr. T. WILSON thought, that in reducing the five per cent. to four per cent., a great hardship was ant. posed on those who had small incomes. It placed them in a state which might subject them to many difficulties, because it would ulnae a considerable re duction in their means. It was boiling an iron cud over their heads. Those who held from 201. to 50f. a-year would still suffer a greater redo-ohm by putting them in the three per cents. It was his opinion that • longer period than seven years should be given for paying off the new stork. Mr. BRIGHT said it would be of more advantage to the country if the five per cent. was reduced to four and a half, than have an additional debt of 7,000,0001. upon the country He did not like that cerium should be obliged to signify their dissent, because he , thought it a beg leave In ask :he Right Honourable Gentleman upon what system the rules and regulations by which the trustees should be gni led, were to be conducted? l 9 r. BANKS wished to ask the Chancellor of the i Exchequer if the system of compound interest was :• go on as usual, or whether it was to undergo any Mot alteration ? • The CHANCELLOR of the EXCHEQUER rose to reply. He said he would fi-st answer the qnestion of the Hon. Member fur Curie Castle (Mr. Bank.;) the question of compound interest remained yet no decided, an ii must be a subject fur the futtarecoosider alien of Parliament. It would be necessary to intro duce in a tangible shape. and in such • lurm that it would meet with • fair rlisc.:•,•,ion. With regard to the question proposed by the Hon. Metuber for Bristol (Mr. Bright), as to the regulations to be adopted con cerning the trustees, he %stolid say that the same sys tem wolltinow be adopted which had been in 1749 when a Rill of Indemnification was ecarred for thew. The Hun. Member for Weymouth (Mr. W. Williams) shoed alone in doubting the competency of Parliament W interfere. It was not doubted in 1749, when a Bill was introduced for reducing 49 millions. The lion Member fur the City of Loudon (Mr.. Wilson) said titatlisaay tenons would su :er under the new system ; bkt Iso (the Chancellor of the Exchequer) thought, it theydid staffer, 0 proceeded from an anavoirlable coo. tioamicy ; however, he could not agree that any per sons would he tuaterially injured by his plats— they purchased, subject to contingencies, at a low price, and afterwards there was a considerable in -so they" , bad been a long time gainers. It was. imports*, to kits', the: if they' suffered a reduction: of IS per tile; there was as still greater redaction, of 13 pee dfik tic tbe prices :PI provisions and turces 7 , , I •vit !set .41. • , .did be seas to The perdu{ oboe, of gold lit present misery under 'dui. Should these 4 sol Of Capital out of , reconsider the It was dot b, , be served. The not beoetit the . and device. It without diecolty, • the distrait of a the. proposed ipanid persons; U tatted r to be iteldire of )bjeetiii lelt irk seven 11111110 ed Ife redeems ,200,000/. of *MO Ilse or—r• _.Add ..... • Z Is maw as the tboshareitailitlighlinibtXbash,wileh; mad the,ounilwr He ashwillise Right Hoe. Gentleasau..€ Parliament on inereue the Funded Debt? The pard" B did not expect sod pa In 10 it„liad caused thermal' part uf the ma. which . ‘ a . *as labalrlat,,. should lie* is hatted[ . elites the seCisoft - Or thus thealleirstw the; coy .' t eroald be nbligeed to 26th 0•4. Wo. . seho currency. d raerrised„the Immo , 90. the ankotry cools' it. • The apes subterflefeefd /teal cussing would I a the [ULM- nation. This ne no time for trick ai dial Debt. • 'th Wei a pl—..SlvAue "Sak , %..„,...isite plan that, with Ater* mash plea tad ',Mitotic' teeth. would relieve th r departing from geneses. penpi :. .. , old be redeem- Mr. Wlfefell hiP . thought the.propoi r t i o To be able to press bard a the ifty thousand pen he strung proof by tbilchk ie , tof the Exchequer tc lberente to the small saiestgroffitock. Another obje vas alseevideace that, libeitti df- redneisg, it added se, 'termination ex- the ament ot the National Debt, to ) the o ge- mould fittirq six years of tie 1,200,000 he support of country was to be annually relieved. f the currency. Mr. IdABOHLY wished to kouw who r the enactment should ,disseould be oireacuscribed I ion of the halt in dicier ilowdnnf treader, free. 'illo,lllalslitial se Meted the other way. it wet t. • He• einiurestlid by deeine r im.bie ttkorigiatil ieetlsa.. iplaitted. SST said the seism,* 4. die wits west to the lenient 'show-. the land osebt Woe loirneiteeletiti, nee from the legit' 11100111110 1 484- prisoners. The' W 4014441 had,' trot .interetinme ifseseilil tit the question teak W 4441104. rued by a elobs of pierlingos King's subjects aboitig leo 'effe.; dote, why JINN in+14.1.0 power of doing lietat Attie re. ing`the law 2 7'(ta>iaetp 'lO this. kiwi weee,almerveil was )8 to that alone the. *Helier woo at if a private leelemess'eerried. I. Other, bet by stgle9/44111111heh141 er was etoppediditeiglibNitk why he laid before theittellitath.! imposeible for, 1,18, *know Addressed to a Unpile" a Nal. welore he FIT too groolbilur tiie kris reply. fie told Ito Mt 11 1 11trien was eltogetber illegal lisloo of Sir S. Ranl . is wltiebi fullyagieed. . As is certain inelhi ,rei. the baths being deed in law,' steeply to hienalsorr et that beim& en sleight be coatained in a let toed • %Dere estraurdimary ergo if a prisoner wanted to got rid of ght knock his brains oat against sties was negativisk it wools! be td onjesespreesodiog that ever we. use. bt would thee appear that latree 'emigre in the kingdom— King, Unlit, and Commune and stet and Jadges. 'sided, when the flambee, were— qateetien. 168-eefier the motion, or ewe vivo out ktrrre. the CHANt ELLOR of the EX. set resolved itself into a Committee Siouities. An of the F.:CCM/QUELL he. • to the Committees The trial. tidiest nodes wising which had west panegyrics throughout tbe forded a signelptoof of the great t credit of the amotry, Ile alluded by lop, per cents. in eixtue of the lit. Pelham. la the row 1749. to redoes the fuer per elate. to • M than they were before that time. the debt at that time was fifty. fie mode adopted Was, that at a We of the fear per teats. were to for vivo' yeses; aid 3 per cyst. Th,4/ 1 1ffittiainteif -Oat day stated wengly reeiateel.,* oho Nowhere senente. drk Mishear Oast be etippoehise woad to /Oahe to the !kookier? weans* • t retoger. raTileit SIM blot opera ito moist to impels; w.. idgbly t would aff .rd a considerable re. lie first part of the 5 per rent.stoch toes to reduce woe that calkeihe • feed consisting of 25 minions, ted soon after the American war. Leh Flee per Cents: amounting to holders of which ware on the same to Navy i per Cents. There was stock, of a small amount ; it was raity Loan, which was created in part of the holchrgeof this stock, Womble sufferers. widowed -the deer the peace of Amiens I a sub el. sad the subscribers to the ban stuck to the amount of five nf.i. to propose that this stork 'ehou!si I three years after the Navy 5 per sum to be reduced summated to e Right Hoooneable hientleman that the House would cseteed that t to do was to enforce the holders at they ought nut to think of coma to accept any commutation for his t.t.- 4 kay.aereis offered he deemed ▪ favourable; and. u far as he ad Own g I satisfaction. He very few dissentients. He theight —te call for the dissent of those to consider those as approving who sent. Tie holders, be considered, 'acute. LI. Next, as to the period %%ed fur the expression of such dia. .Act, the Parliament allowed it that period would be too short bad added so considerably to the ish empire. To allow • period of iwriminately would keep those at unnectssary and painful suspense. to juhhing, and compel individuals ively to the operation of the funds ; nt would, in fact, give rise to much violence. lie therefore proposed 3f 5 per Cents, stock who resided lb lon, who were disposed to disused, it dissent on or btfore the 16th of qi e who resided in Knrope should tisae to announce such dissent; and' paid the limits of Europe should s trine fur each purpose. This lat thOught, would embrace every it was attended by some estrasr !es. Tu these terms ISO bad reason ly speaking, there was so °kiwis's. plan of giving 11115 i, of the 4 per as to he created, it was epee advau ye hits that amount is the present It lOU/. of the Five per Cent. Stock. Its. would be irredeemable for four erstion of the plan which Hovers- Ito the levelslore sof 5 per emit. be added public debt &host was en objection to the suggestion tate s 41 per Cent. Stock, because it iirefee. life)*lo4kitnitais element that bailees seed wu thattrytelengeOets of the the for dissent ing; but it wtadd be publicly knows, through the main* of hits astwepapees and oda* Aussie. eat *lent* *ea sa give every one dee etologh to wed* up his wind. Py the Bill of Mr. Pelhisqlstroldieed fu 1749), only tirstemniths were alloired fes.demdlariaff. which Web atidifg thiaily 'lmpossible for tits* wits were in la la. Ai ts.thothasellsa of hhe Mors. Mapabse fee - Portarliagtain (Mr: • Alearda). be ewe* see ..aer what. arrangements he would Inaba fir paying MeV *be timid dimmed entil after the optiosaday,4llll• then be would bring forward his phis. He did eat think it a greater hardship to call for the dissent duo *sent of the holders of 5 per Cents.—both were egaally dependent on costingtocies. The Hen. Mem. bet for Coventry said that, dace the Meeting of Par ham**. then wee a great rise is foreign stocks, sod diet a great Mt of mode] bad been sent oat of the crentrit . Byt.be mould tell the Hon. Gentleman that thererblei alight rise In those stocky and a great deal of looney seat abroad. **(OM Hi* Media: at Paeliansest, add betters any Whistles was !hew at the plan to be inteedeced; bet-oltees eircnametsseen arose frame cite illiferieded Ilarsor *Stitt wise altimiad; end the fear of eacroechtnent ha the Si ‘ltieg Piot' eatt 0 public ceedita.- .-. . --'-' 1 1 - - : Mr. CALUMAPT wished to ask the C eller 4.. - • 1 . 4 . i.c " ‘ the Ettcheetser if ifb, had a.power hi rmself be pay off thy isetelisents.ve it beabould apply tot the maseties of Parliament? • , The CHANCELLOR of the EXCHEQUER re plied. that it d to the authority of Parlia ment to pay them off in such manner as might here after seem nioatfitting to its wisdom. Mt. RICABOO winked to know at what time thee, who were sew holders of 5 per Cent. Stock, would be pain poesession of the 4 per Cent. Stock? The Itig'!t ffba: the Chancellor of the Each/Tier bad forgo:tea to answer the question which the lion. Member for Tewkesbury had pet to him, as to what was to be done in the event of one of two Trusters not agreeing to tne proposed transfer. The CHANCELLOR of the, EXCHEQUER said; with respect to the hitter proposition of the Has. Mena; her, that in ease of any such disagreeniedt betweel two Trustees, the elestion mast he referred to a Coati 0 of Law fur decision. As to the. secooditropesitios. rat 1 specting the time when die trembler eitm Stock should, ' ' take place. he'proposed that is should be dratted on the sth of 'Ally after the dividends 'wets med., or before that Iter t ea.shOsid. ;It litirstlit pielopi de-. sire it. • . . Mr. W. IP lLLlA3lS•obaerved that an , exiptieg Ash m of Parliament prohibited the Stook in meastire fru* ' being transferred till 23,1100,0001. of the Pedslic Debi ' wu liquidated. The CHANCELLOR of the EXCHEQUEIS o t served that the Mit. Member bail eatindjratisah4ipr ; stood the nariiaink of that:Ait, , 7 , After'a few emr4s from Mra j though/rm. the Chan cellor of time Exchequer. .Sr. mibely, Sir. W. S m ith; and Mr. T. leiita.n•, 0:1 the ressiations respeettog the demi* be•ellowed fur ummeitingAraesfere, the steers! re. solutions were agreed to, and the hot* 'having I'll• . siiiiid; thecitalrupta iiioirtid, piers*, and the Ito port was ordigiW* be remekied to-aeon's,. ~, ~, • mare aztwamitata..• ..:..,1 t _ i‘ • . . Mr..B . ROOPlLNitrouipbB dwaspeottatiby Col :e al twiErflips ihrwas - * -- Mr. HU3113 witted to know bows the Right Hoe. the Chancellor of the Exchequer, if it was his intends s to lay before the house en account of all pensions charged with a certain duty. The CHANCELLOR of the EXCHEQUER sail it was doubtful whether a general account would be jr . duces!, but he was now preparing one respecting the de partment to which he himself belonged. The Resolutions ware agreed to, and a Bill was or dered to be prepared. MALT TAX. The house went into a Committee on the Annual Malt Tax Act, and the Resolutions were agreed to, after a few words trom the CHANCELLOR of the EXCIIEQI*ER and Mr. S. RICE, In which the latter intimated his intention to propose, on a future day. the abolition of the Win dow Tax in Ireland, perceiving that the Tax on Malt operated with an unequal pressure on the population of that country. Thu Report. was ordered to be received to-morrow. SLATS TIIIDS. • Mr. W. SMITH, seeing & Noble Marquess in his plaeo; wished to give notice that he would, to-morrow, move for Copies of our Negotiations with Foreigh Powers for the Abolition of the Slave Trade. NEVI:NCB ANU EXPENDITURN Returns were ordered of the Revenue and Expend iture of the country from the sth of January. 1421, the sth of January, 182.2, inclusive, excluding the sums allowed for paying die interastof the loaded and Um funded Debt. Mr. LUSHILNGTON brought up various public docu ments, some of whidi were ordered to be printed. On the motion of Mr. °MILBURN, the Arius' Seizure Indemnity Bill in Ireland was read a second time, and ordered to be committed to-morrow: The other Orders of the Day were then disposed of, and the halite adjourned at 13 o'clock. By an official paper, exhibiting a comparative view of the state of population, in the Census of Enz., land. Wales, and Scotland, in the yews !Sill, IMI I, and 1821. it appears, in every county. there IA an in. crease within the last ten years; in the EngliAlt cowl ties it is at an average rate of I$ per cesium—in the Welsh, at 17 and one-fifth; and ip the Bcutch, at 15 and sirserentlis. The Echo corvette arived at Toulon on the 1 Itit instant, from Smyrna. At the • departure of this ices. • eel the best order cootitmed to retgs among the shi,m employed in ::tc Levant. They bore visited the differ. cot F.—rah) succession, and have earre,ised their (meat activity in affording protection to isorflag, which 1114 acquired so much respect that oar me rchant ships are much sought after by commercial wen; who have ship ments to make. In general there ie obverted, thratt4o. out the Levant, a sentiment' oT goud.iill sad cou.i deration for the French; and this favourable dispoAi. lion is certainly owing, in a great tnesisien., 16 the ae. tivity and energy of the Officer. who coubtiaud.the King's ships —( Mora! eve.) . " Thursday a man brwright his wife to. Mansfield Mark ae, to dispose of tq the highest biddebpootplaitiog tithe:Ws fair one was not a " votary at the shrine u( riet, but having agreed 'to take a parithse ! i4filta.' 4'4 . 4 resumed its cumin:44nd they vetursmillsameedeteviastesni to become candidates for " thc.1144 . 444mcpa.i4atate very great disappointment of seecra semis*, nexiau_ t r t 4ccolue purchasers, wits Withal'. Mile 'eftiwd, cart/N.4 Hi the occaaimstrlsoltiveti it tie, hi irsiliorierm lbrh )belt AUCTION r. t I saws.. a:4l " • • Ak t '4l . - :.~.~ H 1 ; • ' a~3d~L I I "~ e i .rl