The British Press; or, Morning Literary Advertiser. — London, England, 1818-05-02 00:00:00

• 'curio. awl beim* is . eessek Unite with the revealable aware or the torsos ea which the couture might be arcsaisaredated with tlw weary wanted for the public aervire.l.. - figssw.j—•But if all throe prespeets. geed wed bed. were to be bet. lasted open a pupa. 61%18660k teat eistvertibie Into ea•k, whet would be the leetetiee predated eye« sassy tese's stied in t h at Heave? 411 !sell ;Wed foetid e' T - 11 st heirstiM esiolliet else coati be intetosild whets the Hem Viet celled epos in the reerher thsemehasiest el a meloOotte *le; tows and setistectury in its twills, tome r. a system Vievisich alt passible apology er defeats turd be oared. evert the• esteem* singer in which the Inisutry had thew bees pleats! by Milt eafersiVn ess4 "tehialleers citeriMancits P Ikeda then the hedtate s tsetse vele Wooed te resistance. when the qautios helm It wee, whither the restriction of casts permentsee ads pert of the Book eltuuld be le the yew tale, ea the twig obd in the tnemer inurstilted by the Right lieu.Gostionan ? Ne &gibe the eve s wesid look to that idkist Obereeter fora statement at kart of seme_gratend• whores be • might hope to incisor the Hem* to. makes° great a sioilles to his news and Hid anyone's bees hinted at s • 144,; hod not tlip t eight Hen. Gendeems two yews ago stated i 5 war thtie Uterded-bY the Beek to muse teak pia; meth eed the* loathing hod then come S. bid Nellnetedgeit imincelies to thiolt the Bank mold be triage er iodise/into redeem its pledge! Bet:; new. Ilmethi after this lopes of dim,. the Heses, tmersidlied se •er Marge .the dorm% if thie t'al.W omens* en the gamed% • stated is tilt ai b i :ref the 111. that it'wei in oesitssi thitestiesel large feeeign . bans Mild be smiler led, end theta vest ameba of orbit Ir t isglioligter went eat travelling es the Cott/tient-1 bemire( which mere it would sate. bell fellow ate comesseenee. that should nob rep. liertehe mooed. to goat drain st specie frets this briar! would be the Malt, mod that it had born will advioelde to counter the reiteiction as to cosh riots: As ti the danger of itireign Naas,. the • . erthis esentry had teen such of We. that Mr mach hood year would be jest es 'Millet* in that specials ef Fruitless speculation as asset*; bet meanly the nes-voideet and carious gel* y teaorlehted ef. 'might be altogether threwn least of the calceledtiat as t bad, by the toub. Moe, this Right Hos. Guttman. ablest seat leeilitioteety mod unkindly for his pasitiou, reamed leNnee.-/A Right Ho. amok Goodman - ehould recollect that hi Ott roideeivier. Mt. Pitt, bed ea disdeisted to alibit to the Mouse. when the Bill was aeignselly messes& At gisends epee which the tirigistal Geier - IS Co m% hod been limed. and referred the , erbjeet at a Caustaitlee, to sepses how far it wouldbe upedliest he ceo(inue its °retains. Our Chia. cellar 'el Ihi Eitcbequer MIN the Wiste buldlYs that he Wired it to tie esgetritist, intd; of came. the , Reese ittight le believe es ho.. It wee MI to cesseider die deform also of our *item. time wow from that at the brovideetiela of the Bank reseektien by Mr. Mt The okra of the met. went of tlw Bank reettidieu!WereOnseseested in the 'traiable of the Bill, sell stated, this unnierons stifessodeti end ezmeoated statements 'sod re plier/tun* bin efiesiated. Pe.peetinj the pro.. peek Sr appreachlarg fauvist., Meares, and insert*. cotatutioM melt • sifters bed boom expedient; whims me dew wee mittio 'Awoke Sebeidiee to pay—ne greet armies to breepreited abroad, er at bee diiterbenee;* aceosseed by dried of foreign iuvasioni at ulteinioe—but. Woad 'el UN theta appalling tiremi stankes. it the . Chiseller .f the Iticheqi.r, that 1s his View of • tkr geodes, were substituted, the House ' *Mild an the arguments' new Nigger ed fee the eeseirsenee of the restriction. He. fee use. drill elijiretie the Chancellor of the Eacheq eery as rio literated wham ; his whole et. magemeat, if it mild be celled nth; was bonus ed on his ewer statement, and he woo Pledged to support whet he celled a lean, or subscription. or twenty other' as appropriate names. busisee it •was not possible to Bud one word which mid describe it. It we. of era consequence that this premedbag was demoduated a breech of faith wits the public . cro In tale. the year alter Iberia*. a Bill was isttredsad te Mead this Bill fee two years longer, espreoly for the perms et siting thee to the Bank Directive to renew cash prom* *host ha. curving any public ieceovenieuee f : Nei it was remerkeble dot en this- ocetrion 'the very same preamble. is the self tame words, and the very may eters, had bees prefixed to the ill s whilst all the preemies. including the fai•lis lewd sad the absessee travellers, were left fsegL)—The Beek Direetees should have here ceasehrd, es parties le the whole mumetion ; they bed lot siesta admitted they woe ready I. pv is cash. This was thi elect of the Right Jim - GE& thee-n wick the Beek' Detectors. If they bed bee clashhig n asked.. had they bete esioulted - eo tbe subject if the feveigi liens ? he should say. they • hod eat. Bee as for as could be discovered fibs the tensor these taciturn gentry, they were ready'te mit they were competent to room orb on the eh of July. He was glad to see P rige Geist. (Mr. Baring) in the Hesse, who no doubt could give muse important iefettraticas on this sqb. jeer, se no doubt be bad beau ceittihed out thi subject of the &Mir Maas. oe else he never would have agreed to them. But belveld set help think ing the Bank Directors were all the time laughing at the Right Hen. Gentleman ; and it Rudd be the more itetraordie•iy, if. under oak circumstances, the House should vete ler that Right Hen Gentle atan's proposition. He was disposed to suspect. the only obstacle to the payment io cash would be at Met found is the act or the Legistature solely. With respect to thelereign loans.it had bees argued by the Right asn. Gentleman that certain mei► chants having resolved to lend large sums of money to the Irmo* Goverment, and gold had risen in prim in trusespesee, it became necessary to extend the previsions for seeming the precious metals in the (sentry. Though he should endeavour to ab stain freer abstruse points, he must advert to one preposition es of greet/Importance; he meant leash. if it were disppted that an ileac of piper currency did not allot the price of gold ?—( Hear. Iteoi) — How far then might the Moused issues of the Beuk affect the excess of gold beyond the Mint price, ought to be a queetion of mature consideration. Plotwithsteoding all that bad been Mid, the Book 4 . mid _ 11101111, and this of itself mien be a anificient emit to the English stock-holder to avail himself of the visa of 'his stack to purchase advitiotagemisty in ► titiffreack. funds. Bet when was this system of :petting off the payment in cash to mid ? Perhaps rivitlyar then would be other foreign loans—what "eerily would there be then for our resomptioa of %esehjatveaeots t He could not help adverting to f llbedifierenee of sue wile& of 'sheltie money 'n o d Wit if the Government of Frame; In this coon. *at billowed the money, and the Pailianieut itticsitrtile, for the Walla. Is France, the Minister obtained fora the Legislature a Posits 'comber wf vorell i ,eV lied placed at his &petal, es it went, Itp,gerpetisal ammity of 60,0001. it year, mid he eras permitted to avail himself of the must fettaliable opportunity to get the money when he liked the aspect of the minify market. If this a t were fairly and conscientiously fol .he should prefer it to our own. It wits • remarkable tesalt, that. 'its far as the stocks could be takes as evidence sir die want of a trapper circus Wale every thing iu France was its a prosperous state, whilst they were considered in a state of 'IMP trees distress; whereas in England. where all had their minds fall of uothiug but our inesperity, there was a general isiundatimi of paper and the stocks falling. The amount of the luau for the ser vice of France was thirty millions altogether. Of all this what might be supposed to be the probable amount of whet might be sent out of this ettontry ? Large sums, no doubt, would be sent am of tunny antistries its Europe, to induce a coolidelice in the French feud*. From what bad escaped from the Duke de Richelieti the French Finance Minister It was not improbable a claiusaut the French foods might obtain payment in French stick. Thus a Prussian or R i sqtish ctsituasst might ob. fain a resusburrentent us stock, averaging the I per cents. as win their custom. at 78. By this mode it was possible to lowest in the. French' foods. and yet this.couutry be a glister every way. Might ,uot else the greater part of 'these loans be remitted in goods, bearing a profit to Goverunieut and the mercantile interest at the same time ? But should the 101.110 wren p ell in gold abroad. would it sot Morn in the ordinary chainiels it trade io a short time. except, indeed, as the Right Hotiourehk Gentleman seemed to think. there 411$ something in our soil, shores, or climate. hostile to that torte!, which made it always williug to elude our grasp ? Bat the time was come when the veil would be taken away, and the true itsopedinieut besliewn to our resuming °oh pay ments. Indeed, most persous saw through the thin device already. He would ask, once for all. war it better that England should lose her character for good faith; or that the. Batik should give up some part of its enormous profits.—(Hear.)—Tliat Com pany had now 10 millions Of looney iu their coffers. The profit upon its bei.sg hoarded up, did tot ex aced a million perhaps, and the Bank had received not less than Of millions front the profits on its trans actions with the public. These, certainly, were abstruse points, and nut to be understood except by colas dispassionate inquiry, rod he had. there. fore. always thought theta unlit subjects for a po pular assetubly, constituted like that Muse. He hoped sollicieut had already hven submitted to the House to indite it to go into au inquiry of a more grave and appropriate stature. If the result should prove to be the resumption of cosh payments, mach good would be done ; if the c•nlvale he was pomaded the House and public would derive such a knowledge of the transactions of the Bank with the public—such au insight into the bade and finances of the country. as would prove of the utmost national advantage. He • did not mean to contend that the Batik would ressese its cash payments. be only hoped to receive SOON satisfactory information ou the subject, and ascertain whether the restriction should err tune for a longer or shorter period. If the noose did not agree to this proposition, he would WI them his mind—and that was, that the Bank never would resume them at ail—(11 00 0- 2 •4 1 the same Bill would be introduced every soceessitim year, as a matter of manse; iu which *pinion he wits the more confirmed. from what the Right Hoseurable Gentleman had stated once I. his Ms* lamented Friend Mr. Horner, in left; ethatiirben he wished the propoiedrestrictioo to %we' •to be reduced to one, received front the Hon. Goolliemoa this memorable answer F the Bill states that our reautuptiop of cash :pay. Silts is to take place its two years. it looks like wisest; but it it states the resumption its one year, Diris wi l l believe us.' Nov let the Howe be ware. for they were called upon to sanction that which it had beau said from high authority uobody would ever believe, namely. that the resumption • would take place in one.—(Hear, end lerghter.)— He would isk, what inure favourable opportunity cold wear for this desirable renovation than the mot ? Might there not be still larger foreign next year. or the fullowitig years. to be provid ed for ? He felt also the great impropriety of that vicinities in all the late financial areaugemeisis, so that welting was ever known till the last hour. Hence we were on the Ist of May called on to vote for a continuation of the restriction which was to expire on the sth of July. He depre cated the horror mid slam which appeared to seize some persona' minds on atentioaing the reautuption of cash payments as likely to occur. Some had said how should they ever be able to get their rents paid, or maiutaio themselves in their rook in life? The 'change mast cause sooner or later. If it did not cause now, it would never come. It was the darling object of, the Right Hon. Gentleman to prop up ) 'entail, this system of gambliug on the vital in. terests of thounaties, and keep op the circulation of a paper currency, es on A &trended tha.success of all his liemseiel can seal?mKtlwliutipns. crilti thite*ltifieg nstidianigivas et an ru linger. :conveiti . tto nu i ttitery .Pet egain hit* so. - The Rank Direc thought they had fAiad out a medium of Au totimers% between the true sterling currenty. dependent oe property, end the false or eubsti. one, cud imagined they never could make step as long ea.they.eashed good - Wit of fiNtreluguts, cud gave the same uonuttel value for in paper. When this Was objected l4p. by on the Opposition side of the Iloilo, unless were checked. these Oeutleinen tried out, We met have experienced aug ill effects or diffi• goodl in our affairs arisnig eat of it." There was a reason why. it wee replied : the check has been operating all along, for when you had issued too greet a proportion of your Own paper money, it occasioned,' yowling', and was brought into the Bank cud returned on your hands." Thus these wise heads could not itnagine how it was, but that so it was, like that lion. Gentlemen, who,. when the difference between prose and verse had been obligingly explained to him, expressed great , aotonisheeeist at hie haring beau for so many y ears bilking in prose, and never hewing knows the fact before.-.(Laughigl.).--The paper currency in Or ciliation in the hall•Sper endiuji thee lithof January, lef7, exceeded that is the seine quarter • in 1816, 200.0001. whilst them was a corresponding issue of country bank paper. For obvious rowans, might not these increasing issues &cement. in a great degree, for the flourishing mite of the financial sr raiigettients of the Right Hon. Gentleatati? The Sauk. however, recollecting that the best part of valour was discretion, would, Ito doubt, pocket the profits, whatever might be the rawer. —(/fear.)— ' But he should slow that the Right Hon. Gentle man had violated even his own criterion of the pro per estimate of the currencies. He had laid it down, that the eirceistion should bear a just pro- Welton to the trade, - eapenditure. and revenue of a country. - Thus. on the comparison of the years ending on the Sth of Joniary. 1816 and 1817— . its 1816. the revenue amounted to 57,000.0901. the budget to 25,000,000/. -end the exports to 02.000,800/.; whilst. in 1817. the revenue amount ed only to 47,000,0001. the budget to 82,000,000/. and the exports to 73,000,000/. if, therefore, there were deducted Irons the excess of the exports mod imports, the decrease of the revenue, it would be fair to infer there would be required a less siren letiwa by 7,200,00011. in the litter year. The neat step would be to compare this statement with the Bank notes its circulation in the correspondolg years—in 181 G, they amounted to 26.500.0(0/. . its 1817, to 88,500.00 a making an increase of 2,000,0001.. although affairs were represented in so promising a star. This should also be coupled with ass Mortised issue of country bank mites its 1817. anuionting to 21.000,000/. whilst that of 1816 was confessedly low. Thus .thsowitig into circulatiou some edditional millions of various descriptions of Batik paper, whilst the neces sity for it had to all appearances dituipislied.— On the subject of coZuba s :k. the Bill relative to which had been • b y the Hight Hon. Gentleman. all he *meld isay was this, that the measure was most enjoin/liable—for lo could tint conceive any justifitation of that policy 'which went to prevent a man's exercising his credit in Ibis own way. The Government had a perfect sight, for reasons of state, to say that 60 , Inan should issue ernes pf 1/. and id.; but they h ad no right to ray. that, when there was tag ;sower to issue. ou the control and romousibility of the individuals. they .l should interpose end cell fur a double securityei- It was said that the public sustained dreadful losses from the failure of country banks—that 200 out of 700 of thesis had holed; but be the loss thus aii•ing what it may. it ought not to be calculated as a total low. fur in many instances large available sums re. maimed fur the indemnification of the public. As to the licenses, it was notorious that any man Ida wanted one could get it. end iu massy instant.. the seine establishment NO several, fur the parpOse of taking up and circulatiug their notes in various le. cal directions. But his Wahl objection was to the principle of this Country Banks Bill, for it wept to recognise a li. and 2/. paper circulation, without reference to the vital question. _whether the Bank was to pay its specie or tiot.....(iiessr, hear, henry— Then, as to the circulation of Government paper, there again he had his objections. As to the first point, the issue of these small sutra, the Chancel hoe of the Exchequer has assumed that the i•tite of the country will not admit of the substitutiou of a metallic curreucy iu the place of these notes. Now how does it happen that iu France the whole circle. halms is kept up in metallic currency ? It might, peeliaps s be necrology to adopt a different course in this Country; but all lie asked war, that this deci- Msw be attained after due iuvestigation be- Imo Cesansittee.-i-f ileee.)—Then. as to the so -BeBd point. the Goveritineigt securitiee--the small ,camostry beaker was to have a stamp, it was to be ,mtele to all intents and purposes Government paper. whether it was issued at Exeter or at Dominic-street. The result must inevitably be, thaa-illeGlorernalesst will take into their own hands dieintl. of country paper—for they will natinslly soy. " Why should we take tine trouble End prim' to put profit, such as it may. le, in the hands of country bankers, white we hove the means of keep. ing it, by a similar system, is our pockets ?"-.. Hear. fiestri)—(Here the ('lltastellor of the It,. chequer shook his Aead,)—The Right Hon. Geo. tleman shakes his brad, hut he had two wa3s of shaking it—one was when he thought he could si. lessee 1111 . oppottent by shaking it, and imother when he deepened of being able marry a tryout ite sues sure..-f bmgkier.)--lt war in vain to declaiin iu that House about the danger of loans and country banks. The only way of really getting at the question was by going into • Committee; there. and there alone. the whole subject could meet with due cud effective consideratiosi. by the opplicetiou of iutelligetit and minds. fairly select= ed. As matters stood, there was a great rod well founded alarm at the financial state of the country. He would nut go su far as to sag. that all the dan gers which were stated by some persons would immediately arise if the Bank Hestnction Act were to continue—but he would my, that the dais• gers were iticialculable, if the Hank did not. by a steady and snidest reduction of their taper issue, I pave the way fur a speedy resnintitioli of cosi. ',ay aneum, - A Committee could rec ##### niestd surdsen fore& this necessity,, oe well as poit t t out the most effirfacious means of scarrying the errungerneat into effect, aid making the ihoek lees than it otherwise must be if matters were permitted to go on iu their regular course. On the project which had 'ken nietitionetl, of reducing the 5 per eerily. to the 51, alt he wattle' say was this, that it would li e unfair and disgraceful to the conlitty, in as much as it would he creating, by artificial melon, a tinaueital-chauge which could net beLr the ligh t.— (%he Chancellor of the. Exehequer soil, it. j--- The 'Light Honourable Gentleman may smile, but no other person in the House does at this notable expedient.—(Hear, heir.!—Nothing on., more porno' mid unequal tl the preltininaiy step to carry this point. WUhia six mouths the 3 t ier cents. were raised from 9:5 to 30 per cent. The gainer by this was. of course, the large 4:eon:dist ; for the great body of the holsters could not touch this profit—many of thew, fur instance, held as trustees for a certain period, and could nut, by belling out on the spur of the moment, avail themselves of this rise.; and they may be going on under the idea of having, ten years better, can increase of capital, though in the interim, per haps, the bubble may burst.—(Hear.)—lit vain would the Right Honourable Gentlem:lll say, that this system diffused wealth through the country, that it enabled roads to be built, mid opened a facility for the landholder to burrow money when ever he pleased. All this was very fine—but unless the Right Hun. Gentleman meant to Pay that the day of payment was never to come. this was the situation in which the burrower toast ultimately stand, namely, that he would have to pay at the rate of 15t for every la lie was in this manner enabled to raise. —(Hear.)—The whole system was contrary to the wholesome view which every English merchant took of the management of his own istrairs--it was contrary to the bound prin ciple on wlath every agriculturalist acted—it was contrary to the fair dealing of every Englislossaii— it was a system which he must abjure, unless it were clearly laid down to him that he had tin other alternative.—(lleur.)—For the Bank Restriction Act they had uiliforinly beard the plea of nev e* . sits let that stecersity hr clearly and on fair grounds established in the Committee. said rhea there would be Mt end to the case. The great evil of all was, that the character of the country was at stake—( Hear.)—Look to Europe. Did nut every other country take a close assist decisive view of it s finances after the pressure and vicissitudes of the war ? and was. Englatid to be the only country in the world which was to take no step to review or regu late her fitwneirl bystesst ?-otHeur.)—Tliis subject struck him so forcibly, that be could not reit ant I iiiii saying, if, after. three years of peace, the House agreed to the Right Hon. Gentlennot's !imputatio n , they ought to be prepared to agree to any thing.— He spoke with less restraisit en this question. be cause it could not be construed into one of private orof interested feeling—it touched the general honocr and credit sit the country, and not the interest of any particular notivithiel in that Hutise—it might in deed excite a smile ou the face of the Right Ilan. Gentleutan, but he trusted it could excite entliiiig but serious refle.ctlun in the mind of :vary other man in the coutory.—(Hear, hear. hear.)-- If the House meant to encourage gambling of all kinds, mid the usual Otictuating and uncertain vis cissituder in the public funds, then they ought to pass this Bill ; if, on the conteary, they meant to perform their duty to the public, they would, ii the first iustance, call for a Committer. It was their duty now, in a ewe of peace (for such was the rest less state of man), to prepare for a time of war ; and on this point he would moat explicitly declare, s tleit if war found this country with r debt twirl iii Misti est, and cash pupation unreasoned, there was an end on that hour mid on that day to the British empire. —( Loud cries af flea:!)—The misgit tope was that the Madequate steps now taken wrist to pro. yoke, if not to eucourege din hour, and to slew that the country oar afraid to meet it.—(//eor.)—But the Noble Lord opposite (Lord Castlereagh) was, on a former occasion, very profuse in Isis high-flown statensetals of the situation of this cuuntry as com pared with env other its Europe. England, he said, was the I and flowing with milk and honey, where every numceuld sit down under his own vine, and Frauce was humbled and overpowered. But let the House look at the contrast furnished by the state 'of the two countries; France, degraded France, met her financial difficulties manfully, she reduced them, and arranged measures for the ultimate liquidation of the demands matte upon her ; while in Englaud the Chancellor of the Exchequer was driven to the neenwity of borrowing 3,000,000/. to the way of loan, and at the same time calling for as further restriction of the Bank cash payments, and doing so on the ground that foreign loans, Ingo. elated in port on English capital, rendered such a course necessary. On this part of the subject, lie would only say, that it Rea melancholy to see the existence of such a state of things encouraged English capitalist,. to.place a full .conlialesice in the foods of Foreign States—to teed their unwary to France, where no disguise or shuffling iu the Coeds took place—where. its fact, two and two made four. If, twenty years ago, such a course of events had been foretold, the Chancellor of the Exchequer (though not the best authority in the world) would have ridiculed the notion that after the termination of such a war. and after three years tierce. such a thing could exist in this country, in the teeth of every mercantile policy, as an unrestricted issue of ffiper money, not eonveroble to metallic currency. .Theappoisitmetit of the Committee to consider this subject might possibly rescue that character of the country from the odium that this course of policy must necessarily entail upon it ; at all events. the Committee could do no possible harm—they were not to inquire into the internal 'Stirs of the Bank, for if such had been his intention, he would have moved fur a Secret Committee. His only intention was. that they should consider the public demi'. mauves which, at this time, prevented the Bonk from resuming cosh payments ; and consider the most early penod of reverting to an interchasige of lamer for metallic currency, under such' wholesome regulations as would make the renewal of cash pay. meats advisable to the public. The next duty for the Committee would he to examine the price of gold, and also the subject or the foreign looms, and what proportion of them were to be remitted in mo ney and 'goods.. A great part of the A us- stock. Irian loan was remitted in goods, under the di rection of Mr. Bowyer. All lie asked was, that the House should pause until such a Committee had examined the qurstioti, and reported their opinions thereon. Previous to putting the motion, aid, which lie meant to conclude, lie begged to thank the [louse for the patient hearing they had hear.)—He coi.cluded by moving for the appointment of a Committee to take into consideration the circumstances con 'levied with the Bank Restriction Act, and to devise such measures as would appear advisable for the resumption of cash payments; and also to e "der the regulation mid circulation of the IL and el. notes. The CHANCELLOR of the Excimattka rose tp stare his reasons for dissentine from the motion. Ha isr.s glad to find that the 114 lit Hon. Gentleman noel rather put his case on broad and general prin ciple:, than on arithmetical calculatimis, applicable to precise and defined circumstances.-1 Ile also felt satisfaction that since the Ri g h t H ots . Geist. had given notice of his noel ion, he 1184 actual knowledge of those transuctimis which were iir viously but matters of conjecture ire his tinted. The first object of the Committee for which the Right Hon. Gentleman sought, would he to quire into the probable effect of the foreign !Galla tin the price of gold in this country, and how far the excess in the price of gold was attributable to the exceas hi the paper issues. The labours of such , a Committee would be, indeed, as inexplicable sue the result was likely to be utisatisfactoiy, steel rusher creative than getting rid of donbis..- 11;eare, hear, front the Opposition Benches.) — • Bullion Committee came to a conclusion—brit ingenious us their inquiry was, it led to no practi cal result. The Right Hon. Gentleman had iltoolll{. ✓l, that because there war an excess of paper (luring the last half year, there bail hero au aggie gate excess of expense. He also took the amount of the revenue and expenditure, as they ineveared iu the public accounts already furnished—/ Hear, from the Opposition Benches)—but lie omitted to include in his calculation the internal and produc tive trade of the country.—(Hear, hear, hear.) —The foreign trade of the country had witoits the last year increased five or six 'nothing was more remarkable than the sinfir tunitte depression of trade in )816, and the at tire and effective revival of et in the following sear. The issites of country batiks had ceitaiiiiy increased last year; hut the increase wait not owing to any artificial measure, but to the revival of gel:coal tirade, and the conrequent stir in the money 111711hict. The Right Hon. Gentlsanan had truly said, that a large treasure was accumulated in the Bet.k ; for what purpose rantld it be accumulated but to prepare for the it somption of cash iney 'sterna ?—:rod in what insulter C0111(1 they have iiro cured this treasure but by !tie issue of th, it tones in the lornt of payment for the meeasaly por t:hese+ ? 'Fite assumption, therefore, that the 1.1 ;4 4 price of gold was caused by an over issue- of paper, was most certainly untenable in the niaoher iu which the R.glet Hon. Gentleman attempted tis enforce Isis position. ll'bere teas ceriaMly mule plausibility in the allusion made to the 0 per caw. difference between the value of the oIJ and new silver coimige, but his argument relative re the price of gokl entirely tailed hint. •It trams then Notorious that some other cause must I- *ought fur, and the fact of the foreign loot' mid the military °meiotic oil the Colitmee, throw some fight on the subject. 1n Juor, the isior. of Bunk paper was 23,600,0001. aiot price of gold was 5/. 10%. per (moue. lu 181 u. the Bank iticties were 260J0,0001. that iv tardily 3,000,000% more than at the piecedisig period, loot yet the price of gold, so fur front rising its propor tion to the excess of paper, was 41. (i.e. per ounce. In the year 1817, a loan hull brew tiegg— ciated in France, to the amount of 8,000,000/. steeling, or 12,000,000/. or stock . . Their weir now required to lie raised, two emus of i6,000,0a0 of fr. reales. and 40,000,000 of fr. ►sues, br►idrs another UM, which would make a total of 30,000,0001. ctvrling, or 45,000,0001. o 1 There was NISO a Prubsiati loath A. to the portion likciy to be remitted in the calculation of French contribution, he could only speak from ru mour : lie knew nothing on that sui t ject which could justify him making it the ground vi calculal Illearfrom Mr. Tierney.)—Wheo the Hause saw such a state of things, and recollected that at a far, u►er period the Directo►s of the Bank said that . . second Austrian loan of 3 or 4,000,0001. would be fatal to the Bankoind induc e d Mr. Pitt to admit the propriety of their remonstrance, and recommend au attempt to negociate the loan in Spain-- Mr. TIERNEY What else did he say and was not the course pursued at the time dictated oo the spur of the occasion, and under the pressure of the busty alarm which prevailed, and ‘4301t , 11t any proper consideration of the tivaticial elute of the country ?" • The CHANCELLOR of the EXCHEQUER restomm ed, and maid, that if a loan not exeLetling fir caused such serious apprelielism:.* that period, what ought not be the caution 10 he observed on an occasion of•qua t loan to be negotiated amounted to 30,00ii,r, .t !. sterling ? When the authority of . P , tt quoted, the House would'elo well to r:t w ther they would adhere to the course lan! down : the uniform supporters of th ststesi.iirti's o-:,. elides. Or at 011 C• adopt the tuasirt.s those 'f. uniformly vilified his stliele cower of procecl ing.—filear, hear, from th,. Oppdsiiic , ! Bemhec —The night Hon. Gent. had t nay beer so. cemmful in pointing out the rivt, of the Bill ; there was cert .1 I:y d mistake is if - but it wits his intention to rectify it in the Comm tee, as it conveyed an unfounded reflection ' • Bank ; for this species of negligence he lie was culpable in allowing the preaml!'i former Act to be verbally copied for ti li wig true that Mr. Pitt had referred the .tEdro, the flank• to a Committee, !• it he 11%4 dome :4 , nlr der alarming and unforeseen circumstaucesonni twt iu such a case as the present. The proposed guts. Inns was, to consider' what inconvenience would he sustained by a resumption of cash vaporish? toll's* lie would reply by putting another quesititio, alnit isicouweilieuce would arise from in...lunging for ac other year this resumption ?—(A lough.)—'l lie Committee, if appointed, could take no i t,- ppective course ; fur how could they (drew the events of the running year' As to the fortigo ' - ""*":11 was well kisses to ' he is pommies of a rester pea and is 1 forties of sold and silver thee over it tot buss b .,. tutus MIL . 111.4sliat=isteitets rid soil ewer so w a poir 4 =t .. *,.,„4..as all hi. On: . 4ltir et" ad. All cr pees* lift* - sir. t end ; wool. tiosbject expartatseet.t ett- I cash. ii aye 4 gold above the Mint price glee M. . it tors th sight: be oesevisiset, flaw ii•dieptosbie weseces, rouges that a leer proportion of this excess did rot wee . depens frees furrows loans. It would beta subject of alarms tuted te die eieetury it the useediessts should fewl disputed &false ow yorshave oe • haw osavent its the French nuncio Pandas The operative of a haw or of a disposition then es fitehoso in the French feuds, !reale be needy some e if silt altogether AS sum Tits object of the it were Chsarellat of the Ihicheqsir hed,'is he had told never the floisee. been elho•ell by hie Ism arossgetsents culty ii is raising the stoat owl dissisiehisige the site or io• it owl r Pri rr I I lq u Wag , co lle t bu t t edg e , tho ug the ii , sir Mark f Brent 1 in CO(s serv es vediu 4 for, gh