The British Press; or, Morning Literary Advertiser. — London, England, 1819-12-25 00:00:00

informant added, that the reason for im i ciuming it was. that the Member for Shrews bury (Mr. Bennett) had submitted a motion for • Cotritiaittee to go into an inquiry, partly political and rarity commercial, it was therefore refused ; bat that ;Ministers had pledged themselves to agree to a propovition for a Committee, if it were strip. I ,..d.•esf every thing political. Ili+ Friend very iir .porly replied, s' Theo, if it coiner from any Morister, I won't sign it.° Ile then called upon the Gentleman who, as he had stated, had sign ed it, and who was one of the wealthiest oleo in England, perhaps in Europe. He told him 1 1, 1'; Grenfelt) that it s.. " It mere milk mad water Perititor"—(ileor. 1 hear)—and that it 'hot been got up in the way such Petitions usually were. 011 iisquiriog from him further what motive Ire had in signing it, and what was ex pected from it, he had received so answer in writ ing!, which he should read with the permission of the !loose. It was to the following effect : " 1 dirtied the Petition In which you refer at the desire of a Gent Ii man with whom 1 haul considerable dealings, sod who urged me to co yesterday and sign it, uharrving that it ovoid be too We after too o'clock. 1 thought it ritlicti loqme-(A lnuok)—hot harmless, and did out hesitate to gra tify-the Gentleman who had made the request by putCnc lag gnaw is it. Bet on more fully tindersianiling since the iohject 0( it, 1 sin vet y soriy 1 hate done so, and if sorb a thing w est now pearliest:de, 1 should ihiuk it very desirable that My 00010. were withdrawn (ruin it, particularly if it is meaAt to have any influence on the mcasures adopted by Paritsioneur for the restimpliust or cash payments." (I ken) —This was the substatice.of what he had hexed ; and he pot it to the House, whether inch a Petition desetved to be considered as the Petition of slur Me it:bawl. of the City of London ?—[Here Mr. living observed, it was the Petition of those who s ;oiled it.)—lt was, Mr. Grenfell continued, so was . .Pty Petition ; but he asked, whether, but for these dibservat• ,it would not have gone forth to the politic as the Petition of the Merchants of Lontiott ? If the lion. Gentleman hail confined himself to vile cr Iwo suggestions, such us the removal of the re strictive laws against trade, or an extension of the trade with China, hr might have soi:robed that the petitioners really believed that the Petition might some benefit to trade, but in the latter part of his-opt...eh the murder came out—(A laugh ) from duo it plainly appeared, that the Petition was sent in fur the purpose, and for tin other purpose, than c 1 -subverting those arrangements which had been made between the country and the Bank of Dig- Iml for the resumption of cash payments. The cutrency was its °Nee I. He told his Hon. Friend that it proceeded from parties who felt themselves i rippled in their speculations by the measures of I t•t Session [Mr. Irving here intimateri that he koew some of the Petitioners]. He did not deny it. but lie hoped that notwithstanding lie might saute what was Ilia belief. Ile believed, then, I; at the Petition proceeded from persollll who, I.' ding themselves hampered and crippled by the preparations for payment iu cash, iii their trading To-ratio:tr, and having before overtraded, which ts species of gambling, and having been beaten on the question of the currency, now from interest anti vanity endeavoured to persuade the country to r v rt to what in his opinion half ruined it, and which, 11 restored, would utterly rum it. The names to it IstrZ. but few ; the table w is in no danger of being esetloaded with theist. He should sit down, me iteaiiiig that lie believed die whole object of the Petitioners was to destroy the financial arrange -I,;.aits for the return to a metallic currency. Nib IRVING defended the character and motives f the Petitioners. He said that the names sub sciilred to it were neither roan in number nor eati ng Ilion, but from their wealth and number entitled to the highest consideration of the House. He shvaild be as unwilling as coy man to disturb the plain title of the enuctmente for the restoration of a metallic currency. The subject, lie had hoped, was date too grave for ridicule. It was an expression of the opinion of a very important body in the commu ity—a body who gave the greatest impetus to the iodustry of the people, and who may be said to put lit operation the whole labour of the State. Such a body were undeserving of ridicule, when they came forward for the public good. ‘Whatever may Le toe ultimate fate of the prayer of the petitioners, I-e had dour his duty in laying it before the House, nod lie earnestly trusted his Majesty's Ministers woof(' not refuse inquiry into NO important • sub j rel.— (Hear, /tear.) Mr. JOHN Smicu said he would state some cir cumstances which were only known to himself re pealing the origin of this petition. It was with ex- Imam regret that lie heard the observattuns of his Hass. Friend ( Mr.Gresifell), and sure he was, that ig i onside of the fact only iuduced these ob ions, fur he knew his Hun. Friend too well to believe Itim capable of saying an unkind word of a single irsliridual—lie knew that he was utterly incapable hurting the feelings of any ant—he knew that .lar was the last matt i laving who would do it, and lie felt cotivinced that, after what he had now to say, Hon. Friend *alai express regret for the obser ....bona into which lie bad been hastily betrayed. its I ad now to inform his lion. Friend, and the klesetre„ that this petitioit originated with a Mitt of large fortune—a mass, than whom, if sister be one more than 'mother less likely to -enter iota speculations, he was that person, or who, if lie did enter into them, possessed more ditniile memos of meeting them out of Ins writ piepdrty. With such a person, then, did this Peti tion originate. As to the Noble Lord opposite Cardereagh), he was a perfect strauger to the circumstances in which this Petitiou utigi i sled. The Gentleuntti who first thought of it upon him (Mr. Smith) on Tuesday or Wed ,. daisday brat (lie believed the latter day), and then a p was thee Petition started. The Gentleman was d at. lie believed. a 'whitedl character either in or not of the iutererts of his Majesty's Ministers. Ile mated his IZIONDUI fur thinking such a Petition most .desirable, but in those rearons not woe word was said of the bollion question.—(Near, place, many circumglances respecting the mode of education adopted, would have - been found well entitled to observation. The Gentleman felt • strong impression, that, if an inquiry iuto the cause of the present state of distress were undertaken, some, at least, of the evils which afflicted the country may be mitigated. This was his impression, and not nosy political feeling whatever, either as to Ministers or the bullion question, for he was a man 'these situation could not be affected either by the one or the other. Fully according as he (Mr. Smith) did in the sentiments of the Gentleman to whom he alluded. it was quite apparent, that for the Petition to have any chance of bring efficacious, it must he pre pared and signed by as snarly persons as possible without delay. So pressing was the hurry between Wednesday and this day. that lie could assure his Hon. Friend, that the Hon. Member who present ed it to the House knew nothing about it uwsil yes terday. When the C;entletnan who first spoke about the Petition had drawn it up, in the plain and forcible manner in which it was expressed, the consideration then was by whom it should he pre sented to the House. Ile (Mr. Smith) first thought of the Member for Taunton (Mr. Baring), whose talents and authority on such subjects had so na tural a weight in that House.—(Heor, hear./ — But that Member was DM in town, or to be found at the moment. The next person thought of was his Hon. Friend (Mr. Ellice); but to make the matter short, the Petition was in the end handed to the lion. Gentleman opposite (Mr. Irving). Such was its history, snd no • his Hon. Friend must be satisfied its origin had nothing to do with the bul. lion question. With reference to the ',ergot's who signed it, his Hon. Friend, lie knew, could pot have read their names when lie made his remarks upon their act ; of he had read the names no man would have been more perfectly sensible that such observations could not, in the slightest degree. have had reference to a set of men of such c (((((( etercial rank and great respectability.—/ Hear.)—He (Mr. Smith), before lie set down, begged to express his aiixious hope that Ministers would seriously con eider the recommendation of the Petitioners. They had already passed their general measures for the peace of the country, and lie now earnestly sub mitted to them the consideration of this last propo. sition, as being one calculated to excite at least a ray of hope for the suffering and distressed people throughout the kingdom.—/ lieut.) Mr. RICARDO rose, and expressed the great ea tisfaetion lie felt at the application plow inside in behalf of so respectable a body as die Petitioners. But the inquiry, if adopted, to be effectual, must be a general one, and lie could hardly see how they could avoid reconsidering the subject of the Bullion Laws, and the effect which had arisen from them upon the price of bullion, since their enact ment. Various causes lie knew had been assigned for this fluctuation in the price of bullion, hut lie thought them all inadequate to account fur the dif ference. lie was happy in agreeing with his Hon. Friend in the opinion that au inquiry into the stale of the country ought no longer to be protracted. If the present opportunity were allowed him, be should like to explain some mistakes and misap prehensions which had gone abroad respecting the suggestions he threw out on a former night. It was said that he had proposed a plait for the li quidation of the initiould debt, which had tint the limit of originality. He was not aware, that, when he stated that plan, he had claimed for him self the merit of being its inventor ; he knew that, previous to his existence, there had been plaits of this, as well us of other descriptions, submitted for public consideration, with a view to the payment of the national debt. He thought that he might have been permitted, without claiming any originality for himself, to have adverted to the plans of others, wherever they appeared to him wise and 'billowy— aod to have expressed, with the modesty that be came him, his own opinion of them to the House. —(Cries of Hear,frout boils sides of the House ) No matt was mote aware that) he was of the value of the time of the House. or had a less disposit to press his own unimportant observations upon them ; but as an busiest man, so long as he was a Member, lie humbly felt he had a right to express his opinion upon a subject to which lie had devoted as much attention as :le was capable.—l flear.)— I ii looking at the financial state of the country, the first thing that struck him as entitled to primary consideration, was the inadequacy of the capital of the country, us it was now applied, to meet the public or national debt. Then came the cute. sideration of the cause of this upprreist de ficiency ; and how the difference happened now it' the menus of the cuuntry, as compared with former periods. Its reviewing this sub ject, he thought it u clear principle, that when profits were high in other countries, and com paratively low in this, there was a natural ten dency in the capital, where the low profit was, to remove itself to the country where its value was higher. This lie thought was a principle as clearly capable of demonstration as any problem in Euclid. He would then ask, whether the existing system of legislation was a wise our, respecting this state of capital—and whether the movements of the Le gislature bad not rather a tendency to aggravate thew to niotigate the evil. There were various instances in which lie thought their acts had hail this evil lelidessey. First, the Corn Bill, be was clearly of opipliuu, had aggravated the evil it was applied to remedy. That was his upitoopo, rod however it might be received. he was bound to state it.--(//ear, hear.)—lt aggravated the evil by its tendency to raise the price of en essential necessary of life—this increase of price necessarily raised the price if labour, and that, as a necessary conseqUelllT. ditisisiished the profit of the agricultu rist. The effect of this was then an increase of the evil. With respect to the national debt, his wont tuesidation of the plan fur its liquidatiun was pre mium ed chime-neat—it may be so, but neverthe- he think so ? Because he saw the state of things daily withdrawing capital from the coun try—the obvious effect of this was to absolve the capital so removed, from it liability to pay its proper share of the national debt. It not only, in this manner, absolved itself from its respon sibility, but it threw an additional burden pro Santo upon the capital not so withdrawn ; and slid not this aggravate the evil ? What appeared to him wise to be done in the present time was. that not a moment should be lost in taking am account of the capital, while yet it remained in a considerable and adequate portion in the country, and that the amount of capital so estimated, should he cl, to get rid of the debt. He would willingly bear whatever imputation of extravagance was cast upon this recommendation, but he dial not are any great or insuperable diffieulties, if once fairly and fully entered into, of its accomplishing the ultimate end, and giving relief to the country. It was a gigantic plan, he admitted—(Hear, hear/ —but I f he saw no better way of meeting the evil. The payment might he extended to four. five, or more years, it might he even done through the medium of a paper currency. issued for the specific mud piers ticulur purpose. Suppose a cheque were given to each of the public creditors, and that tins were pay. able for the taxer, uo great demand or variation would t hen affect the regular circulating, medium of the country. As to the free trade or protection, or alteration of protections, which a Cuintuittee upset the general question might hereafter recommend, it %as impossible to say any thing with preciaioo. They might discover the wis.lotn of getting rid of misty of the present shackles upon trade. But these changes could never be effected so as 10 beue. tit the people at large, by looking at the particular regulations affecting merely one, two, sir three traders ; it most be by the proper examination of the whole system, and by a slow, anal gradual, and deliberate alteration of that system, where its parts were faunal to require it, the alterations must be made by slow degrees, and upon deliberate consi deration and demonstration of their mcespity.— (Hear. heur.)—lie also thought the Committee should be empowered to see it oilier prohibitions than those generally metitioneal ought mitt to be re considered—for instance, the C Laws. Why should corn, more than wine, or cloth. or any other amcle, be subject to such regulations ? On the qoaestiou of the cut renry, perhaps, it Mild be as well to let the Bank go tin selling bullion Irma they were hound to pay at the Mint pace. This would be to break the fall, and go gradually anal without abruptness to the beneficial end. The only moditicetoon he should think wise to adapt, would he to permit the Bunk to go on pa• j itig in bid:ion, and not ill coin. Why was the expensive medium of coin to be adopted, while paper, under a proper system, might be devised to sneerer the sane end ; while the public might have * paper, secured at .1 regulated value, and convertible at will into metal lic properly. The Baok would then have the profit arising out of the interest of their paper, NO long as their real capital commanded its tit culation ; and the public. with the same security foor the real . value of the ctreulating medium. would be *raved the expense of coin. The Ilan. Nleuitier (.N r. Irving) had expressed his opinion that it would be destrable to adopt we- circidat meolitiniii. Tor this opinion he could tiot give his sesent —co oar from thinking it desirable to edam such a proposition, he would sly, that if carried lino effect, its operation would be to bring back the country from a elate or civilization to one of comparative barbarism. The ! greet object of a currency was, that at should be as invariable as possible. If there were but one cir culating medium, it would he of course open only to one variation. If there were two, there would be the liability of • double variation, and the option of selecting one of two legal tenders; so that there would be a double operation exposed to ',compound variation as well us tincerteinty. It was =parade to have any standard, whether of gold or silver, with out a varialion. IJs opinion was decidedly in favour of buying but one metal. The Committee @Louts! have his cordial support. It might lead to good, soul. as lie thought. to Ito possible tiojitry. Mr. EIN LAY Phileil, that he had made inquiries respecting this Petition, and had ascertained that its character was pretty much as had beets retire vented. It was signed, he admitted, by many ae speciable individuals. But it was equally clear it was without the signature of many respectable bankers awl merchains, who hid, he believed, pro nounced • pretty broad 01.1111911 0(1011 the but. lion question. The Petition, therefore, was without the authority of the general backers and merchants; it had not emenoited from a public meeting, and was only entitled to attention from its individual sig natures. With reference to its prayer to matitute an inquiry into the cause of the manufacturing and commercial diatresses, it sear obvious that vu. coin preliesasive a subject must embrace inbuieliae iuter eats. A more difficult inquiry could not possibly be undertaken. As to what Government could du in questions of cominerce, lie thought the princi ple clear, that as much freed 'should be allowed to trade as could possibly accord with the stability of a country. Ile did not believe that the present Government were indifferent to the that:rhea which prevailed. Ile had supported their late mea sures fur the peace and tranquillity of the country, because lie thought it was vt fur the interest of the working classes that their attention should be turned to domestic industry, and withdraws' from the delusions which so unfortunately possessed them. hear.)—No delusion could be more fatal to them than that which inculcated the Polly°. shier° of the Government to relieve them in every practicable manner. Nothing was easier than to state general principles of trade; but the great difficulty was in their practical upplicatimi to the fluctuating commercial relations of the country. He could not concur in some of the causes as signed for the ',rearm difficulties. In his optimism, the princtpel cause arose front over speculating, • of life in Germany, in other parts of Europe, and in America, in each of which places the want of demand was such as to rtbo ttttt 1 upon the people here, and cut up that foreign demand which was so essential to their intererts. Nq man could deny that the labouring classes mint he maintained out of one of three sources: first, out of their own Is- hour ; secondly, out of the a ssessments or con. trilitstions of others; thirdly, out of advances made to them by the State. The last of these would not surely be rec.immended. The second con tributed as much as possible, and the first was, at present, even inadequate. The dis tresses of the poor of Sz•ntlanil were greater than those here, because they hail not the benefit of the same assessments. The Hon. Gentleman them commented upon the plan of relief propounded in Lord Liverpool's letter to the Duke of Ha milton, of the portico's!, of which he approved. Reverting to the Committee of general inquiry. re- Collienentled by the Petition, he must say lie could not anticipate from it much practical good. It was to impose a mighty task. The Corn Laws must go into it ; the Poor haws most fullow—and, as if these were not enough. the Hon. Gentleman (Mr. Ricardo) must throw in a 400'1 dose of the bullion quest .—(4 /augh J—lle concluded by saying that he would cordially support any measure which would trail to practical g I. 31 result which he feared would not follow from so momentous ail in quiry as that propostil by the Petition.—(Hear.) Mr. GitEN FELL, iu explatiati -n, rope to dioclsim the slightest intention of personal disrespect to. wards any of the Gentlemen who hail sigued this Petition. If he hail said any thing having such a tendency, of which lie was not at all aware, he was extremely sorry for it. Usitil within the lost ten minutes he hail not teen the Petition, nor the very respectable names subscribed to it. The obseiva. 'lolls he had mole merely referred to the sudden manner in which the Petition had been got up, and tarried about for signatures. Mr. K. Duuchas said, that his Hon. Friend (Nlr. Finlay) need not have been under any appre hension that this Petition would have been ascribed to the general merchants and bankers of London, when on the face of it it only purported to be that of the very respectable persons who hod signed it, With respect to the Bills " for securing the peace and tranquillity of the country," it was surely not too much fur the country to expect, that after the Government had put down distiffectiou, they should turn their attention to an investigation of the causes which had led to both. No Bills could secure permanent tranquillity unless the distresses of the people were slut inquired into, and some means, if possible, devised to give effect to the industry of the people. The House would recollect that the pm 1813 was one great period of distress and dis aff-ction ; 1817 was another of increased distress and inereasiog disaffection ; 1819 brought with it still snore distress, and still increasing disaffection, to such an extent, indeed, that Ministers thought it right, for the public tranquillity, to enact such sots/tires as might be said to tear asunder the whole institutions of the country. He concluded lay cot** recommending tip me inquidmuld take price into the state of thiXgs which Wed to such result'. Mr. FIN LAY explained. BUOUGHAM rose and said, that he would not follow the preceding speakers into the large and comprehensive subjects to which their obser vations applied. Ile could not but lament that his Hots. Friend (%lr. Grenftll) should have given vent to su many observations, which had no pos. siole application to the persona who signed the Petition. How could his Honourable Friend have - said that eighty merchants of tare first re spectability in London were ass unti-bullion party ? %Volt it lair to throw this stigma upon them, and to say of sonic of the greatest merchants sod largest capitalists in Europe, that their object was to indulge in boundless speculatioits without capital ? Ile lamented that his lion. Friend should, in his too great zeal about the bullion and Batik question, have cast these impututions on men who cooliexion with the Bank or the bullion tpiesinni, as insinuated by his Honourable Friend, bill many of whom were, on the cows rein', the brat supporters of that question, some in Parliament, and one of whom hid actually been a Member of the Bullion Committee. A o the signatures was that of his worthy friend, Mr. Mdcaulry. as respectable as any man living, uocomiected with any angry pus , lines, who had the clearest and soundest views of that importaut question, whose name, as well as others, refuted the surmise dooms out against them. But %that would the House think, when to this very Pntitinm they would fit d the name of his Hon. 'Friend's own brother—one of the Gentlemen. of course, to whom these surmises applitl. The P e . titomers wanted to see if Parliament meant to in quire into the distresses of the country. But, alas I they ouiy saw them 1111/01 coercive laws, without at lelllpling 10 investigate the causes, or, at trait, some of the causes which were intimately connected with floe circumstances which bad led to the necessity of those laws. The Government could mot too soon look to this inquiry. While on the subject, he would say, that he had been asked if he meant to move fur an inquiry into the coin. mercial distresses of the country. The question, hr itila g ilit4l, was put from the accidents' circum stance of his having submitted a mutimi on the state of the nation two years ago. To this he would reply, that he bat' no such intention. And first, fur this reason, that the motion he made had no reference to party topics, nor the then existing discontents ; yet lie could not prevail upon Ministers to give it any other aietwer (lieu passing to the Orders of the Dity. He tould out, therefore, have any expectation Goo a *notion coin ing from his side of the [louse. Amid further, it was his opinion, that the only effectual inquiry which could be undertaken with any hope of success in the distresses present say. As to the bullion question, he tli,ugl it should be allowed to rest ; nothing could he more fatal than any opinion that P ar li a me n t meat t to retrace their netts on that subject : such a tic. tion would shake the confidence of the country. IVith reference to the trade laws, he agreed with his Hon. Friend (Mr. Ricardo). that they ought to be maturely and deliberately, considered, and those changes brought about be gradual loaf iina - flogs means. Ile wished his Hon. Fuel it had not restated his idea about the repayment of the n tionsl debt. He had the utmost revereoce fur Inc Hon. Friend. av the greatest oracle upon mat points of political economy, but on this he cool , l never thiok with him. The proposition hail n. , the merit of novelty ; it was one Ittsiolre , l yea: since it had beets proposed by Mr. Iltitcho , . and every year since, he supposed, it had found way from one speculator through another into (hr.. bureaus of successive Chancellors of the Exche quer. 'rite last time he saw it in pr'or, was to o pamphlet of the late Bishop of Llandatt's ; it was in the form of a speech intended to be spoken ri the other H00t.., and which was not the most fa vourable specimen of the abilities aorl learning of that most respectable personage. lle wished his Hon. Friend's motion 114,1 been only intended to b,..1 spoke's ; for, in his ()pillion. the effect of the pie,. would be neither more nor less than this, to throw the whole real and per, al property of the country for years into the hands of solicitor., cone. y. sneers, and tax-gatherers, and to augment in set t: all the evils which the plan was intended to ri. medy.—(Near, hear.)—lle concluded by eapre••• ing a strong hope that Government would lend t:• self to the proposed inquiry. Lord CA,TLIUAGH regretted that• on a subj. t t justly described to be so compreheals , ve as this, so many abstract and speculative views should hate been pressed upon the attention of Gov.-raiment is one accumulated shape. lle meant to say tiothin4 but what was respectful of the {tenons whir hart signed this Petition, and whose recommendatioc. of course. it only purported to In-. The time would, perhaps, hereafter come when it trunk' be more regular to enter upon many of the arguments that were urged in the ceurse of the evening ; but he wished now merely to state, that Goveristnent had not lost sight of the Important in terests which had been descanted up,,,, , and titiot Ministers were now, as he knew his It slit Ilui . Friend (the Chancellor of the Escliciioe.) hail ai. ways been, most ready to receive and cohsid; r any communications which were calculated to ameliorate the state of the cominercoil reheiohe of the country. It was most (I.lficult ui,uu the mere statement of abstract principles to do inure than ,re how far they could be applied to the general con.- , mrrce of the country ; they may be . 1.1 hileilliekt abstractedly very good, and yet inapplicab:e or in capable of practical effect front a variety of cause , . Nothing was therefore more diffienit than hasti ly to disturb large interests and large capitals embarked in commercial transactions; such at tempts, so far from realising good, would ouly augment distress and shake pulsiic confidence. If any practical view were submitted, it should have immediate attention. lie could not concur io the necessity of embiti king in a wide and general field of inquiry like that now suggested t.y the Petitioners on the mere statement ul existiii4 dis tress. If Parliament on such a ground, which at any time might be urged its one degree or another. adopted such a comprehensive inaiii,er of ham log the labours of a Cuntinitl er, their apphcatilli would be as interminably called for, as he leaned their labours would be gritted!, and, iii reality, im practicable towards meetirtg the distress.a that led to their formation. Th. Noble Lord added, that respecting the bullion question, whatever were his opinions at the time of its niscussio there was nothing lie should now .o touch dee precate as ally reference to it for the pur• pose of reconsideration. Parliament had des:idea upon it, and to their decision they were lumina t,• adhere—any other decision would be likely to shake the whole course through witch the burouess of the country was conductert.—(lleor.) Mr. ELLIce culecuried in the opinion that a tin) wide and comprehensive atcumulattuit of I ris.iirs• for the consideration of a Ciiiiinittee, ass nut to tend to the desirable result of practical adenoids , . Ile also agreed that an inquiry, such as that pro posed by this Petition, could only be elf, ctive when aided by the whole force of Gov.-rim:4W. Soups inquiry was doubtless necessary.— / Hear-, hear.) — He concluded by saying, that un!ess the slate of the country was fully considered, mid tel ef ed to the distressed, that lie was sure th y were .1 no great period front an alarming coin-. Mr. K. FIN LAY eXi.laiiitd. Mr. Alderman Wools seta, that there carte at least twelve names to the Pe:ition at A- rr o i a r e s who were favourable to measu.ra ri rhe. cdog bullion lineation. Ile knew intimately toasty of the Petitioners, and he could assert. HMI the sore object of the Petition was to prucuse au suc t uiry into the st.te of the commercial and massof.c.a i interests of the country. Mr. Aldertivin II6:YGATE said, that he tlechued putting his name to the Primate. lowlese be thought It was of tau gellefla a UMW! ; there were 11.4111C11 to that PCIIIIO4I as swop. ctiahlle as any that could be found in favour of the hoiburi (loca tion. He would beg tile nitro. ,f the whilst lie stated the real cause .l the public tin burriniailiient and distress—that suss revs proceed , if front their having within the last r • withdrawn no less than nine 111.11 a boos t..e circulation of the coutitty. Tiny inislit have c. ii sidered it necessary to 4141 so, but rv. ry one kie that such a reductitsis could nut Mote is..n .a the currency of the country w.tJwut psu.A4Ll great embarrassments ; by that ilitiallic chary hi .d, in fact. added little 111111 l4l tile ii•liois•l 'lt tat, and they had shaken the confilence and the tre.itt of the country. Ile hoped tit..t th y i,ad + sea • Jimit.ta i Ol t .a intended Its .top. Hr country understood buiii were near the ca d ,envy, the coritiJence tit ca nowt. sot sod Ilia- The real cause of the diminutiou of the curienry ; *eels of satiation, mud of : lie would agree with Glasgow, that taxation was - 11' lieu ass tolj•cliuil.. s.uri of the bullion question.—f ricer, peor.j— Dinillitell CMllicsivai—ii .., • c..... I.a. ro ••••.•;•••• ....,a.... .....,..n. ••• T he ,eaan, referred to t h e genera l d ec l ine vi t ra d e . leas h e li-Ist it, e n d still thought it a good one ; from an improvdent increase of importations, us midst of the complicated disaresses of the country, nearly arrived at Ow point of dimn,u Um 01 I.e said tite flearbflly that rotheMent should inquire , the pinticular p i.e of its reduction winch was well 86 otter inanufacturing. There was then no and the mixed and totiicate relations of EttioPe, arculJlion at which they intruded to .lup„ lie r ( ,i re ply i n to the cause of a stagnating' so injurious held OM by 6.,c et uute l it, lie thought unwire— want fur this increased stuck. He utterly denied could only be made by a person who had sonic was convinces' that if liar country waler,tuuJ I.aiii t o th e prosperity of the country. Ile alluded, it that opinion he hod invariably entertained. He that over ta x ati o n formed any p ar t or t h e ev il. i n fl uence with Government; nay inure, that it the Government that they were neor the es ds I' 'brit conversatiou„ .tni the failure of our motion lauieuied upou this poitit the state into which the British manufactures were not shut from foreign would require the Government Itself to bind the diminution of the curie:my, the cos.fiJe n ce ut . 04,...8 e „„ et e e ) f or au i nqu iry into the distresses of cumin,. hail fallen, but it 8 86 nut in idle sod un- I markets in consequence of any increase of price its t h e tammu f ac t orms d is t r i c t s , became it was el- ' availing I•nieutatiuna that they were to spend their through taxation in this country- They. on their owls constitutional responsibility. If they nufactures would fl our i s h. Tire read c.ube a the .l-Wcd4o hove hem m i xe d u p with poly topic.; mod time—they were tither called iss tea see how they the contrary, undersold the foreign market*. even did so, 'to be eventually successful, it public th.tresa was th e d im i nu ti nu o f t h e einiesie y ; • .fi f „ ma k er . (its W m , d e c res pig m y's., ou Mr. 'pre to get out of the difEctiltier of dab state.— where taxation was comparatively less. It war a would require the efforts of a wetly siroug and they might talk of th e t w ee t s o f t aai n un , mu d a () men *. plan). 0 „ account of the extreme and int- (Hear, hcars)—The wily wise, in the end ecouo- great mistake to say than the working climes efficient Governutent. ‘Vhether the . present Go- Parliamentary R e f u e l s, b u t l ie wo od „ gm/ un i t pruct i es id e t h eor i es o f the a uthor of it : tbongh Meal, de of getting out of the difficulty, was. were alone affected. Their !Must* wes by no vermuent were so or not, with a view effectually the Hon. Memb e r for Glasgow, that ' , tuit i on was c , i t a i m iy, b a d the inquiry into t h e latter takeu in his opinion, to pay off the debt..—Why did wrens worse thou that of others in the same walk to carry on their own measure., be would not at out the cause of thi s d 0m .... %11,e. „ .I,i, cs ,„ * . . . • , s , Nt ls •4. - C a ' 4 lll, ti ib I