The British Press; or, Morning Literary Advertiser. — London, England, 1826-02-25 00:00:00

' geed by Mr. Thornton. He (Mr. Moore) knew Samuel Thornton well. (Laughter.) He did notmeantotaistanyinipu ytion a t M r . Thornton. but he meant to say the , the petition in in Inn but was good for nothing now • we had geliseititijnlZasimdg% ew stet; of things, which required new ' remedies sew co unsels. The city which he hed the honour to represent waa eenporte d by the silk trade, tied felt sensibly all the miseries re . g rom its decline. The inhabitants of ovent wished to be swung from the increasing poor-rates. A s chem e of relief hail b et a toruterly brought forward by him, but the House could not grant it ; t h e o bj ec t of which was, to bind together by an and's eoluble tie the employer and the employed. It was important to the avian: at large that the people s hould be employed ; they oetenathlus st cured from insurrections and disorderly meetings; the Manchester riots avoid never have occurred if the people had fo u nd emnloyment. The tranquillization of the people was the first thing Government ought to look to, for the people woe the bans of t he Gcr.promest. Ile was :awry that . ini etersdid not promptly refuse the au ", of hi s lion. Friend, and preclude the necessity of it. ei ther by stopentling the measure of 1 1 ;21 or by repealing It i , otte h et Thee talked notch of navigation, extended commerce, tied free trade. Rut of these he would say—perish them all, but ...note (Laughter.) It wet no longer advantageous their capital ; but if they with. "enthesetlkthm-an'...iii an . tiren to employ i sfrew their cal. what would become of the aell,ooo who de pended ria it toe e ntpinintolt The city of Coventry , would be left nothing but a starving anon , yet the people were the support of the Church and State. 3111 i. for the sake of stile speculation and the pag eantr of foreign silk, we inflicted misery on so many thousands. lie was sum Government would have the honour to go Into a °gamines to consult for the happiness of the p eople. lie had no wish to withdraw his support from his Majesty 's (to. moment ; but with regard to the benefits which they expected to derive then this measure. he would say, " perish all such paltry considerations; and as for smuggler., hang them an tilt a., you can get hold of them." ((treat laughter.) Ile hoped and trusted, therefore. that the Right Honourable (leatleman would yield to the petition of his honourable friend, which was virtuous, honourable, and full of integrity. Mr. KGERTON ohserved, that the silk trade bedtime toe eon. siderabk height under the system of exclusion, and there was great danger, therefore, to be apprehended from this measure. It would inevitably throw great number/lout of employ, and plunge them is the deepest distress. Ile therefore requested that Ministers would sure thou to go into a cotnrilittee. when the manufacturers might have an opportunity of supporting their statements, and making a case. If they could not do so satisfactorily, he would no looter advocate their intercom; nor support their claims. Mr. PALMER declared the earnest anxiety with which he at. wiled to the discussion* of this question. both because some of his coristitunts were engaged in the silk trade, and because at a public meeting °lmams connected with the trade which took plate a short tiara ago, ,te promised the II no. Member forf:oventry to support his treasure if he did not hear something to the contrary. But last eight he had listened to the arguments against the committee. He had heard the speech of the Right Honourable Gentleman, and the rely objection he could raise to that speech was , that it tilled him with self.reproach, since his memory was not sufficiently capacious to retain every word of it. If the appointment of a committee were meant as a remedy for the present distress, he for one would vote for it ; but if the only effect of it were to be the holding out of lingering and delusive hopes (and this he believed to be the case), he certainly could not yield it his concurrence. lit. Secretary CANNI-NO rose and addressed the House to the following effect:—" Sir, in answer to the appeal which has been made to me by the lion. Member for Coventry (Mr. Ellice). I do think it my duty, before this debate comes to a close, to state fittly, but as shortly as the occasion requires, the opinion which I entertain on this question. On the one hand, lam assured the House will feel that I cannot be disposed to enter largely into a palsied which has been already disposed of by my Right Hon. Friend (Mr. Huskisson), so much to the satisfaction of the House and of the country; to the encouragement of those who were before prepared to take the same view of the matter, and to the convic tion of others who came into this House either adverse to, or undecided upon, the policy of my Right Hon. Friend. I say. Sir, on the one hood, that after that speech I cannot have the bad taste to obtrude myself unnecessarily on the House by again launching into this vast subject. But, on the other hand, I feel I should not do my duty to the House, to the country, or to my Right lion. Friend, if, leaving to him the weight of the debate, I did not claim fur myself a share of the responsibility : it is for that pupae, Sir, I rise to address you. Having witnessed for the last six months, I may say even for a longer period, but parti cularly for the last six months, a diligent and systematic attack spoil the public character of my Right lion. Friend ; and know. ing that the hopes that were cherished on this subject were that these attacks might be fatal to his fame, and subversive of the an. ticipetted establishment of those sound principles he advanced, I am assured that the issue of it will be not more a triumph to him than advantageous to the public in the final establishment of a salami system. I agree, Sir, entirely with the lion. Gentleman behind me (Mr. Polmer), who haul spoken for the first time in a mum that evinced the ability with which he would fill his station hereafter—l agree with him, that if a shadow cf probability could be shown that by going Into the proposed Committee we should be able to do anything effectually to soothe the feelings or relieve the distresses of those on whose behalf the Cont. Thiuee is required ; if even it were a neutral measure and no ill consequer.ces would ensue by granting the indulgence, I should feel the greatest pain in refusing to go into that Committee. But, Sir, as I am sure that there is no prac.ical good that could result out of such a measure; that it would only be mischievous to the country, without being beneficial or consolatory to those who seek I am satisfied that it would be to practice delusion on the petitioners at the expense of the interests of the country if we were to bold out the hope or expectation of our swerving from our plaque ; or even create a doubt that we were determined to per. severe in the course which we had deliberately chosen. NVithout going into detail the question is simply this—would prohibition Protect the silk trade of this country (hear, hear) more completely and effectually than it an be protected by a moderate duty ? I sill not go through the arguments by which the negative of that proposition is proved. Bat it is an established ground that pro !Abider would fail entirely of its object as to its affording protec tion to the manufacturer, while it would be introducing again that meet pernicious principle, and throw into the system that evil which we hare had so much trouble in expelling ; it would be to spread the venom of a noxious weed over the whole soil of' the mattuticturing population. (Cheers.) I must, therefore, mist the motion of the Honourable Gentleman for a Committee, which would be melee; to the persons interested, and pre. indicial in the highest degree to the country. If the object of, the Honourable Member be obtained it will be prejudicial to all interests; for by going into a Committee you suspend unneces sarily the measures proposed by my Right Hon. Friend, and there. fore I hope the House will not consent to throw any doubt upon the subject by a measure which will postpone the attainment of that object upon which it appears we are almost all cordially agreed. hut even that Is not the subject upon which I feel myself called or. by the appeal of the Honourable Gentleman (Mr. Ellice) as sell as by a gem of public duty, to express my sentiments Sir, it cannot be doubted that this motion, though not by the Ilanoutz'le Gentlemen who brought it forward, and who did so, I an rorviaced, with perfect sincerity of heart, and with &view altogether confined to its particular object ; not by him, Sir, but by others. this motion was intended to be a covert attack upon those prin. ciples of commercial policy which have been brought forward by my Right lion. Friend with more matured deliberation, and with more concert of opinion than perhaps ever marked the reception of any measure of public policy ; and which all those the most capable of fanning a judgment have concurred in advising to be adopted as the settled policy of the country. The Hon. and Learned Gentle. man who sec on d e d t h e motion now before the House (Mr. John l ( 'alium) has manifested a new spirit, and, departing from those aloal profession a l topics in which he is is the habit of indulging, h disported himself in matte?* evidently new to him, and with which he toyed with all the confidence of a novice. For the sake of making an impression on this House, the lion. and Learned Gentleman did not disdain to adopt the vulgar topics of ribald in /mire and low abuse, by which my Right Hon. Friend ha, been "shied by publications too contemptible to be noticed ; (Cheers.) ond hod made allusions to his talents, with an endeavour to hold hitsup as an object of public odium, because with a toil, an Indus. P.Y. and an Intellect rarely combined, and never surp assed in the . mridee* of his country, h e h as g i ven hi s days and nights to the Perfection of our commercial policy. (Cheers.) But my Right 11°n • Friend knows how to sustain an attack of that kind ; which tce`ts no other refutation than that give n t o i t by hi s own s p eec h ; I . e Reuse knows h ow to neat an attack so unjust, and if my It droved vlettlonf.rourrt theiend wanted any other eulogy, than that ' which is to consciousness of his own integrity, he would htd it in the imbecility of the attempt that has been made to lower h im in public opinion. But the lion. nod Learned Gentleman, Ilb tlellaing the strongest vituperation, was so mild, that even whe elwaht.— ,of the malig nit y o f t h e d evil he said, Peram m .• mean nothing • Laughter.) He talked of the devil in a strain, as if he a ge ar.x.cus Lot to offend the p a t ron sa i nt o f t h e town w hi ch .m. d , m . le it any other than p umme l to attribute to him 14 1 ; ion r , ncdy g or malignity ; to personify i n hi m abstract epecu. wad to ally to abstract speculation all hardness of heart, 114 ev "Yilling that is odious (Heat.) But these attacks ad im. putations are as vulgar as they are unjust. Why is it to be supposed that the application of philosophical principles, of a refined philo sophy to the affairs of common life—why is it to be supposed that that implies an obduracy of feeling? You must deal with the af f airs of men according to settled principles—you moat do so with these ahstract principles as they are imparted anti made up with those aflhirs. But the doctrine by which his Right Hon. Friend is met, what is it but the same doctrine by which the life of Turgot was assailed? It is the same doctrine and 'spirit which at tacked Galileo; It is the doctrine and spirit which has at all times been employed to roll hark the title of civilization ; it le the doc trine and spirit at all times employed by those whine minds were incapable of reaching the heights from which the views of human life can be taken with advantage; it is the doctrine and spirit which affords a miserable revenge to them who cannot comprehend greatness, whi:h imposes on them the sense of their own inferior ity. (Cheers.) I am not to learn that there is a faction in this country, small in this country certainly. (Cries of no, no.) lam not speaking of political factions, I talk of philosophical cabals, who think that all advance of improvement, and all progress in political knowledge, is a retrogradation to jacobinlam. (Hear, hear, hear.) But cannot the concurring and increased knowledge he. mowed by experience be applied to the affairs of mankind, without those who apply them being liable to the charge of risking the safety of society? The duty of a British Statesman is marked as much in the internal concerns as by the external rela tions of this country. ( hear, hear.) If, on the one hand, he has to keep up the dignity of the nation with foreign states, by keep. ing that middle course which reconciles power with liberty, so, in the internal affairs of the country it is his duty to take care that. in not running after any wild theory, he should reject any applica tion of sound knowledge. It is his duty to press into the service of the state with diligence even principles whole excess is dangerous, but whose spirit is conservatory. If we, from prejudice, pride, or narrowness of spirit, 'brink back from improvement because It is innovation, we may live to rue it, and a time may come when we may have resisted it a little too long, and may be obliged to submit to innovation although it may not be improvement. (Hear. hear, hear.) ksay it is this that my Right lion. Friend seeks to avoid; and although I will share his responsibility, I will not claim to partake of his merit for haviug taken this course. It is in this spirit that he has conceived his plans, and it is in this spirit that he has entreats: this House to legislate ; and from that legislation I anticipate increasing prosperity. But there are other attacks made upon us. Ve have abandoned, forsooth, the min. plea of Mr. Pitt, and have adopted those of our antagonists. But, Sir, are people who titter these charges so utterly, so crassidly ignorant of history as to conceive that a liberal commercial policy is the principle, and formed part of the creed of Whiggism ? God forbid that I should withhold due praise from those who are opposed to us in the more vulgar divisions of party, and who have suspended their divisions to concur with us in doing good to their country, Looking back to the proposition, it is directly untrue. As tar as Toryism is connected with this question, it will be seen that when_ ever a Whig Administration and a Tory Administration have had to do with foreign politics, the Tory is to be preferred for his libe ral System. The only attempts at a connexion with France are those of the treaties of Utrecht, and that of the year 1784. The treaty of Utrecht was proposed by a Tory Administration, and re. jected by the Whigs, and on the ground of national opinion. In 1786 who proposed the commercial treaty with France ? Mr. Pitt. Who impugned it * Mr. Fox. Ido not mention this for the purpose of blame, but only to show that when people were determined to find a stick to beat a dog with, how little care was taken in the selection of it. I speak not of it with a view to censure, but I speak of it to show how very rashly these topics of blame are adopted, and how utterly false is the ground upon which is supposed to be erected the superstructure of the charge that we have retreated from the principles of oar great master, and are going into the enemy's camp. No man who has observed the I signs of the times for the last three months, but must have seen that an evident retrogradation in the policy of the country was contemplated--I mean that headlong tendency in some persons to renew the Bank restrictions. Here again we are departers from the policy of Mr. Pitt, because we will note pursue the course which that eminent man had adopted under different circumstances, and because we are determined not to be led into examples misquoted and misunderstood by those who urge them upon us, and which no wise man will adopt again. But it is quite singular how disposed persons are to admire and quote in any great character those actions which are rather the exceptions than the rule. If I admired anything less in Mr. Pitt than another it is the measure of that restriction alt. Bat there is that sort of per- Ilene worship, like that of the barbarous nations who see the sun In its meridian of splendour with indifference, but when in its eclipse they come forward with their cymbals and festivity to adore him. So ere there those who admire Mr. Pitt only in the momentary obscurations when he ceased to shine, but never regard him in the splendour of his power. But, Sir, I admire him lot the glorious I light he has thrown around the political character of his country, for the good he has spread over the empire, but I do not feel myself bound to follow in the defective paths of his Career, or to go with those who tread in the only tracks in which, by acci dent or the slippetineas of the time, he may have trodden awry. (Loud cheers.) If I have said enough to satisfy the Mouse that with my whole soul 1; adopt my Right Honour. able Friend's system of policy, and with my whole strength I will endeavour to maintain it, I have succeeded in the purpose for which I rose, and I will not detain the House on a subject of which, being master himself, he has made them as much master as I can pretend to; but I should be ashamed if 1 had not taken upon myself a share of the responsibility, leaving, however, to him the full and undi vided praise."—(The Right Honourable Gentleman sat down amid loud and long-continued cheers.) Lord ,I. RUSSELL rose, but was for some time inaudible in the gallery, In consequence of the noise occasioned by Members leaving their seats after the speech of Mr. Canning. He found that this debate had become one rather of the general policy of the country than of the particular application of the principle to the silk trade. He disagreed so completely with those opinions which had been brought forward in support of the motion Le fore the House, that, whatever might be his opinion as to the particular question to which the motion referred, he felt himself compelled, since the discussion had embraced the question of general policy, to vote against it, however much was the feeling which he entertained for the distresses and sufferings of the people in various manutictu ring districts : a feeling which, he was assured, was as strongly entertained on the part of his Majesty's Govem meat. At this moment he felt it his duty to declare that, in his opinion, there was nothing which the proper regard for the in terests of the nation would induce Ministers to do, which they would leave undone ; and that none, even of those who spoke most lousily of the distresses of the country, were really mare anxious on the subject than his Majesty's Minis• tens. (Hear, hear.) Upon these grounds then, and feeling that he could nut consent to go into the Committee proposed without shrinking in some degree from those, broad principles of general policy which the Government were about to introduce in the com mercial polity of the country, he eheuld fed himself compelled to vote against the motion. At the same time he could not sit down without expressing the deep sorrow he felt at the distresses of the country. He could not avoid observing that there never was a period wherein so great a change was effected in rte laws and gene ral system of the tenantry, with so little opposition and with so little inconvenience as had been accomplished by the present Administra tion; he was afraid, however, that the case of the silk trade was to be an exception to that rule. But undoubtedly the suffering that was prevailing, and likely to be extended in that branch of manu factures, was not to he attributed entirely to the law which was past two years ago (hear, hear), but to accidents which, could not be foreseen; and although' the evil might have been nggravated by the anticipated operation of that law, yet he was convinced that its retnedydel not consist in Government retracing char steps or alter ing their course. (Hear, hear.) Mr. ELLICH Me to reply, amid loud cries of " Queetion." ' He did not else for the purpose of answering the many urguments that had been urged against him, but to diselnim the grounds upon which other persons hail placed the motion which he had felt it his duty to bring forward. He did not bring forward this proposition with any view to repeal the principles which the Right lion. Gent. (Mr. Huskhson) had introduced on other matter,. lie never intended it to be with s yiew to an eternal prohibition of foreign silk ; his object was to obtain a reconsideration of the subject before the measure of Ina was finally carried into effect. He mought Ministers should gives little more time for reflection. Ho would not have asked for a Committee if he had not thought it would have been bendicial en the country. The operation of the pending law would not only aid the silk menu. facture, but every branch of manufacture in the king dom. He hoped, since the Committee was denied him, that the President of the Board of Trade would bring forth this details he meant to propose as to the silk-manufacture, without lons of time. He had learnt with satisfaction that it was the inten tion of Ministers to remove the duty on dying articles, and par. ocularly on the article of soap, which was one of the worst duties that existed, and cost more in its collection than any other. He hoped some better mode of collection would be adopted. The gallery was then cleared fur a division ; and the numbers For Mr. Ellice's motion 40 Apinstit_ - . - 222 Majority . • ..--182 rpon our re.admitaion to the gallery we found CALCRAFT upon his legs. The noise In the gallery I prevented us from hearing what fell from tho Hon. Gentleman tor some minutes. We then understood him to say that be had already given notice of a motion, the object of which was to give the country banks a concurrent privilege with that proposed to be given to the Bank of England. namely, baring their notei stamped until the 10th of October. He intended to bring forward this motion iu order to endeavour to induce Parliament to show acme conaideririon for that body of persons from which, in his opinion, the circulating medium of the country must stilfissue. By introducing the power given the Bank of England, the Chan. cellar of the Exchequer bad certainly improved the measure; but unless the same power was Fiven the country banks. he appre hended that a .stagnation might still take place, which would he most detrimental in its effects upon the country. No one disputed the danger attendant upon a Bank circulation of small ,notes—he had never heard two opinions on the subject; and when the Government withdrew that circulation, no doubt they hail done what was most beneficial to the country. If the Right lion. Cent. doubted that crying down the country banks was detrimental, he reed only attend to the communications from the country. The want of confidence in the banks which had stood the storm was mainly attributable to the measures of Government. He solemnly assured the House that these observations were not in accordance with the solicitations of the country bankers. The country banker, were anxious to get rid of this sort of circulation. and thought that a metallic currency would be better for them and for the poorer classes. His object. however, was to glee credit to those esteblishmentet but he felt couvinced that the measures of Government had tended to revive the panic. He had seen a letter on the laic evening, desiring a large quantity of specie to be re mitted, and adding that the measure of crying down the circulat ing medium had the effect of putting an end to the country bank ing business. lie did not know whether the Chanceller of the Exchequer would consent to his motion, or to any modification of it. He should much regret it' the Right Hon. Gentleman should not assent to it. At all events he persevered la his determination of taking the sense of the House upon the subject at the proper season. The Cof the EXCHEQUER observed that the Hon : Gent..(3lr. Calcrafra) object would be effected by substi tuting the huh October for the oth February io the Bill. 31r. CALCRAFT assented. Sir JOHN WROTTESLEI did not conceive that the issue of small notes would be of any advantage to the country bankers; but the great objection was the inconvenience which would arise to the country from the withdrawal of that circulation. Some persons were of opinion that the measure proposed could never be carried into effect, although the House had decided otherwise. lie wished to know what the Right Hon. Gent. (the Chancellor of the Ex. chequer) really intended as to the Bank notes. If he understand right the Bank of England was allowed to issue 100 millions, if the Directors pleased. The only condition was that the notes should bear date before the 10th October. Perhaps there was an under standing between the Bank and the Government upon this point; but Buchan understanding was not sufficient for the House nor the country. When the Bill left the House it would go into another place, and he implored those who should have the conduct of it in that other place nut to add insult to injury. and not make this Bill a stalking horse for abusing the country bankers, who were some of the most respectable men in the country. The CHANCELLOR of the EXCHEQUER said he under. stood it was the impression of an Hon. Gent. opposite that he should move for a recommitment of the Bill. What he had said to the Hon. Member for Aberdeen was, that lie would not squabble about recommitting the Bill. He had never said he would move that it should be recommitted. It was competent for Hon. !Item bees to propose clauses upon the bringing up of the report: but if any Gent. now moved the recommittal of the Bill, he should not oppose it. Mr. 111531 E then moved that the Bill should be recommitted, and the House accordingly resolved itself into a Committee. Mr. CA I,C RA I.l' said he understood that this Bill repealed the 17th of the late King, by which it rewired the 15th of the same reign, under which it was not lawful to draw a draught on a banker fora less sun than Si. The ATTORNEY.OENERAL said the objection-may be obviated by the omission of the word draught. The CHANCELLOR of the EXCHEQUER would feel great reluctance in introducing any amendment which would have the effect of producing a small note circulation under another name. A desultory conversation then occcured upon some verbal amend. ment proposed by Mr. Warre, in which the Chancellor of the Ex. chequer, Mr. Monck, and Mr. Calcraft took part. Sir J. WROTTESLEY repeated the inquiries he had before made as to the extent of the issue allowed the Bank. The CHANCELLOR of the EXCHEQUER said there was not the slightest ground fur the apprehension of the Hon. Baronet. The proposed permission to the Bank to issue small notes was in tended to meet any contingency, particularly any which may arise in carrying the proposed measure into effect in the early stages. It was only intended to meet a particular case, and he thought the clause by which the publication of the issue was secured sufficient to remove all reasonable apprehension. Mr. HUME thought there was such a mass of legislation affect. ed by what was now proposed, so much repealing and suspending, that he thought it would be much better it all former Acts were re pealed, and one substituted. This alteration may be effected, he thought, with little trouble. M. DENMAN said that in his opinion the Bill now before the House kept alive the 15th of Gee. 111 , under which any person drawing on a banker for less than td. was liable to a penalty of 201. and on default of payment to go to gaol. There certainly were great difficulties in the measure, and he thought the suggestion of the lion. Member for Aberdeen (Mr. Hume), that all preceding Acts should be swept away, worthy of serious consideration. The ATTORNEV-GENERAI. differed with the Learned Gentleman (Mr. Denman) as to the construction put by him on the 15:6 of the late King; but he admitted that there was such soinplexity in the various Acts on the subject, that after the Bill now before the House had passed, he thought it would be advisable to consider the subject, and see whether one Act might not be brought in consolidating the whole. Mr. 111311: was at a lots to know why the Consolidation Act could not be introduced now ? The Honourable and Learned Gentleman (the Attorney-General) could do it in three hours. (A laugh.) The necessity was argent. When the two Learned Gen tlemen differed in their constructions, how could an unlearned per_ sun like himself be supposed capable of judging of the fitness of the various enactments ? Mr. GIiNSIAN remarked that. by the Aet of the 15th George 111. promissory notes and drafts tor sums under 288. were declared illegal. and prohibited ; and such persona as might contravene this prohibition were subjected to certain penalties, which, by the Act of 17th tieo. 111. were extended to sums between 20s. and 51. The present Bill re-enacted the 17th of George, and of course it re. enacted all the penalties which had been incorporated into it from the Act of the lath. By this law therefore, a common draught or check on a banker was declare d illegal, rind subjected to these penalties, the Act of the 17th Geo. 111, which had been repealed by the 48th Geo. 111. being now re-enatted. 111 r. GALCHA FT hoped an inconvenience of this kind. which rendered it illegal for a person to draw a check on hie banker under 61. would be remedied. The CHANCEMA)R of the EXCHEQUER said he would look whether there was any truth in the observation previously to making the report ; and if the Act did really impose penalties on an innocent action he should be ready to adopt any words to secure the ordinary right of making draughts. Mr. DEN MAN observed that the House was not aware of the state of confusion in which the Act now stood. The Act of the 17th George 111, incorporated all the penalties of the loth, which had been repealed ; and all promissory notes under M. would now not only be void, but would subject the parties to very heavy penalties. The CHANCELLOR of the EXCHEQUER said a clotibt had naturally suggested itself whether the revival of the Aet of the 17th did not re-enact the penalties of that of the 15th ; but it woos evident that the clause (A) had been introduced for the purpose of imposing penalties, on the assumption that the penalties of the Act 15th George 111 had been repealed. This clause was a eulAtltu. don for the penalties incorporated in the Act of the 17th, and did therefore actually repeal them by implication. Mr. DENMAN said these were at least very strong considers. lions to induce a reconsideration of the Bill. Mr. IfU3lErepeaieciiii;Ziiisiiiin7Obierelufc that the differ. ence of opinion between the Learned Members of the House was so considerable that It was no wonder If he, who was unlearned, found a difficulty in comprehending the Act. It was desirable that the law should be exactly ascertained ; he proposed, therefore, that the three Arts should be condensed into one, and he was sure that the Bill in that case would be got through the House with half the trouble and in half the time. The CH ANC ELLOR of the EXCHEQUER said there was nothing to be condensed or consolidated. 'the Act of the 17th had been made perpetual by the 27th Geo. 111, which laid restrictions on notes under five pounds, and imposed certain penalties on the issue of such notes. In 1797 the Act of the 17th was suspended, and that suspension was continued so long as the bank restriction was continued. The operation of that Act had since been pro longed till 18.33, and the effect of the present Bill was merely to accelerate the removal of the suspension. It merely brought back the law of the 17th limo. 111, adding specific penalties which are not to be found in that Act. There was therefore nothing to con. mandate. There were not a great many laws, as bad been supposed. There wag Only that one. Mr. HUME insisted that it was better to ratiell them at once. These successive suspensions of Acts created perpetual tionflasion. Dlr. lIUSRISSON observed that several Ants had passed the House op a former occasion, which had been repeal ied n the same Session, for the purpose of consolidating them into a single law. Such a consolidation might therefore take place after the passing of the Bill. He agreed with the ea. Member for Aberdeen that such a consolidation was eat desirable. Dlr. DENMAN said, oo ng at the Act a doubt tug gested !teen' to him whether the Act of the 17th Geo. 111. were not still in existence, ineeeporating as it did the penalties of that of the 15th. Then these penalties ought to be repealed by some clause in the Act; and that was praise!, what his Hon. Friend the Member for Aberdeen had suggeoted. Let the old structure be entirely pulled down, and something new erected to ha place. Mr. Alderman WOOD said, that any person acquai nte d w i th the manner in which business was carried on in the Bank of Eng land would be aware that balances were frequently due uncles five pounds, and it would by this law be Impossible for any man e au to draw them out. lily. HUSKISSON observed, that it had been stated long be. fore that the provisions of the Act were not applicable to baalma• checks. Mr. J. SMITH said, if the DIII was passed in the conftdenee that these Acts would afterwards be repealed, he would venture to r say, froth his knowledge of human nature, that they *mild r.ever In repealed at all. Mr. MA DER IS rose to propose an amendment relative to the publishing of the accounts of notes issued. As a proof of the necessity of this measure, in the csse both of the tountry banks and the :tank of Enginnd, he stated that an increase of six millions in the aitioont of the circulation of the Bank of England had at one time taken place in seven days. Every mats must be aware, how ever Let:votary this increase might be in itself, tha it Was very necessary at the same time that it should be known. The Bank, it may be said, has a charter and he should be the last man to break in on chartered rights but the public has a right to know how the Bank comports itself in the exercise of the p:eroga. rive which it has bestowed upon it. The Bank might continue to issue a million every day as long as they pleased, if no such ac counts were required. Such Issues, would undoubtedly affect pro— perty in • very considerable degree. The property of the public would tittle be put up and down at the will of the Bank. Ile did not suppose that the Bank could act with such ah isstention ; and he supposed therefore that they could make no objection to the chase. If there were any such improper motive for the conduct of the Bank, the House would see the necessity of the amendment still more chatty. He would therefore propose thea in the clause which had just been read, after the words "such acccunta," there should be inserted the following addition : "And also an account of all the notes of the said fiovernco and Company Bank of England, actually in circulation on the last day of the preceding month inclusive." The CHANCELLOR of the EXCHEQUEIi, admitted that publication was absolutely necessary with regard to the one.pound notes, and that there ought to be a check on Ch's undue exercise of their power with respect to small notes, during the limited period which was assigned tut the duration of that power ; but there was not sufficient ground to impose upon them an obligation to give an account in this way of all their issues. When particular cases arose on which the House might think such inform:stied oesessary, it certainly had a right to do so; but it was usireasorlable to re. quire that the Bank should publish such accounts in the Gazette regularly every month. lord ALTHORP (as we understood him) observed that the Bank might make issues of small notes before the time sibervbeir power of witting small notes would cease, which would be autticient to depreciate the value of property to an Incalculable anent. If the amount of their issueswere published the House would have the means of guardirg against an undue excess. Mr. HUSK ISSON observed with respect hi the remark of the Noble boni, that all who took the same view of the subject with himself would agree that the amount of hank-notes in circulation W 341 no criterion to judgeof their excess. The fact stated by the Hon. Member tor Abingdon was the best proof of the truth of this observation. If we saw the circulation increased to the amount of six or seven millions in the course of a fortnight, and the exchanges still continuing f avoura bl e , we must necessar il y infer tie there is no connexion between the amount of the bank-notes in circulation and their effect on the exchanges. lie knew that this was a fa vourite observation with those who maintained the opposite doc trine • but no inference cou ld b e drawn from the accounts of the Bank, when not compared with the state of the exchanges. He was quite sure that the Bank would do their duty, having regard to the course of the exchange as the criterion by which they were to regulate their Issues. When they know that gold is teten from them in exchange for their small notes, in order to send it abroad, they must contract their circulation, because more gold would thus be drawn from them than would be consistent with the maintenance of their treasure. He protested against any such alteration in the Bill. Mr. CALCRA FT observed that there was a clause in the Bill which obliged the Bank to furnish an account of its issues as far as regards one and two pound notes; and if it was found netessary that it should publish accounts of such notes, it could not be foreign to the principles of the Bill to extend the measure to its other issues. It would be better to do so for the Bank itself. It would be a more delicate exercise of the power of Parliament than to bring in a Bill for the production of those accounts whenever an occasion 'night occur which might be supposed to render it neces sary. Having this information concerning the number of notes issued, and being at the same time aware of the state of exchange, it would be pay to judge whether the issues of the Bank had been excessive or not. ft is true that it is not the increase of six millions that constitutes an excess ; but these six millions might have been issued when the exchanges did not render it proper. The Bank had the power to issue them whether the exchanges were favourable or not. Under these considerations he would vote for the amendment if it were pressed to a division. The less mystery there was in the affairs of the Bank the better it would be for the Bank itself, and the better it would be for the public ; nor could the Bank now have any inducement to keep its proceedings secret at a period like this, when the negotiations of Government about the purchase of Exchequer bills had made all its dealings so familiar to us. He had now in his hands a paper from the House of Lords, relative to the interference of Go vernmen t a b out t h e pur chase Of Exchequer bills; and if the affairs of the Bank had now become so familiar to the public, it was for the benefit of all parties that there should be none of this mystery. Mr. PEA RSE observed that the publication of the amount of issues would only give rise to a thousand false conclusions and rea sonings on the subject. It was not for the sake of mystery that the Bank withheld the account of its issue,, for God knows there is now no mystery in its transactions. It was more convenient that it should do so, not to the Bank, but to the public. Mr. HUSK ISSON could not think what the amendment had to do with the Bill betbre the House; it would be a great incon venience to renew the 17th Geo. 111. Mr. HUME was surprised to hear the Right Ron. Gentlerrlan say the amendment had nothing to do with the Bill. The object was to obtain a return of all the circulation in the country, and he could not see why it should be refused. It was the practice in all parts of the world. There was no mystery respecting banking business in France, nor in America, and he could not see why the people of this country should not have the fullest information. For the purpose of giving time to introduce an entirely new measure as a substitute for acts of the subject of banking, he would move that the Committee do now report progress, and ask leave to again. Mr. AM lIERLY would ask what possible harm it would do to give the public information remeetingthe state of the circulation. Out of 24,000,0001. the Bank had Issued nearly 20,000,0001. The hank was making enormous profits by the public, and ought to give publicity to their proceedings. It should be recollected that the Bank had not used a proper discretion when exchange was against the country. One half per cent. would draw the specie of the country ; one quarter per cent. would pay freight, insurance, anti other expenses to Paris, and consequently when exchanges were against the country gold would go out of it. If the state of the circulation were known, every man would be on his guard, and take proper precautions. The Honourable Member said he would press his amendment to a division. Mr. PEAR;E - eX;gned. Alderman 'THOMPSON hoped the Honourable Member for Abingdon would not persevere in his moition. It would be inex pedient to compel the Bank at all times to publish the state of their circulation, although it might be useful that the public should sometimes know it.• Mr. HOISHOUSE thought the more was known of the affairs of the Bank the better, and he should wish to sec the clause ex tended to country bankers also. What wss to prevent the country bankers from failing with 51. notes as well as with smaller notes? They had no capital, and though he thought it unjust to inquire into the private concerns of other trades, the peculiar nature of country bankers, whose business was so connected with the welfare of the communiy, justified Parliament in requiring from them a return of their issues. --- Mr. GORDON could not agree with the Hon. Alderman in stating that it would net be prudent to inquire too closell into the affairs pt the banks. He hoped the Hon. Member for Abingdon would penierere in hie motion. Mr. MONCK was anxious to know the reel amount of the cur rency. It was desirable that the entire amount of the circulating medium should be known, The issues in 11117 amounted to 31,000,000/. He hoped the Hon. Member for "(Westminster would persevere In his attempt to get the amount of bank.notea issued by ' country bankers im well as be the Bank of England. The CHANCELI,OR of the EXCHEQUER could not avoid reminding the lion. Gentleman opposite that it was competent for them, at future stages of the Bill, to introduce those amendments. The present mode of proceeding was only causing delay, and be did hope they would not pervevere. Lord ALTHORF would add his request to that of the Chan cellor of the Exchequer, that the Bill might be allowed to pass the present stage ; on future occasions there would be abundant op portunities of introducing any amendments. Sir ROBERT WIL!.ON made a similar request. Mr. HUAIE said 'if the adjournment were refused he had still five clauses to tiropme. (A laugh.) He had one respecting depo sits. (Here the Hon. Member stated some of his inteoded amend-I merits.) His wish was to put banks upois a solid footing tlt was well known that some bankers had isstied tou,peet. who woe not possessed of 10,000/. The Bill betas the noose be psosidered good for nothing. There wee so mach ambiguity in the state of the law that it was quite unintelligible. Mr. HUSK ISSON was certain a the Hon. Member for Aber.' deen would consider the magnitude of the subjem lie would not embarrass their prueeedinge by the course which he had announced his intention of doing. It was contrary to all Parliamentary priori plea. All tile present Bill proposes is to prevent the issues of one and two pound notes. That was the simple proposal bethre the House, and he considered thmeotber topics quite irrelevant to it. He did no texpeel such a proceeding. Mr. HUME said that be bad giyeo notice of by intentions, and had not taket the house by surpruw. Alderman WOOD said hut Honourable Friend, dm Member for Aberdeen. had always shown a teadiness to yield when the point was only one of form, but the present was one of Oonsi derable magnitude. Mr. GORDON would recommend to his Honourable Friend, the Member for Aberdeen, to bring in five se to bills'. (A laugh.) Ile hoped his Honourable Friend would yield to the wishes of the House, his perrevetance would shiner no real pur. pone of business. At that late hour it was inconsiderate in Gen tlemen who had come late down to the Howie to ptolun g the di e . cession. Alderman WOOD insisted on the night et his Honourable Friend to persevere. Mr. HUME would take the sense of the Hoot. Strangers being ordered to withdraw, a division talk place, when there were for Mr. Hume's motion 11, and against It 66. When we were readmitted to the gallery. Mr. GORIXIIiI was addressing the House he said that the, conduct of the Hon. Member, (Mr. Hume) itu detaining the H ouse upon such unimportant matters was calculated to bring the pro. ceding. of the House into ridicule. Mr. F. PALLIER said that he entirely agreed with his !inn.' Friend (Mr. Haute) that that was not a proper time to press to-- THE BRITISH PRESS ward the measure before the House. It was well known that scarcely any hill went through the House which did not require- subsequent amendment, which was entirely Aunbulble to the , manner in which those hills were carried th roug h d ie House. They were pressed upon the House at a Ire hour, alien 'timbers were fatigued from a previous long debate, and quite unlit to atter in to their details. Mr. Alderman WOOD said that as Mr. Hume !Cad many clauses to propose, he thoughr he had every right RV opsbea this' Bill being gone further into at that late hour, which Would prevent proper Mutation to those clauses which were of greet leaperianne-,& The CHANCELLOR of the EXCHEQUER old that those , • clatisei were not belore the House; they knew nothiriLef them, • and as those observations related to clauses which were net yet pro posed, he thought it would be better to dispose of *Pt which was under consideration than to indulge in the discuselep of ex traneotia matter. Mr. Hf73lE pressed upon the House the impropriety of f pushing forward the Bill with such precipitation, ; in urging that point he disclaimed all unworthy and factious feelings; he woo lolluenard by a sense of duty—h is con d uct was cons i stent, an d that Condom wbich would precipitate ourasuree through the House oul mote calculated to bring it into contempt than his persevering to oppose 1 1 that precipitation ; he would, however, at all events, being forward his objections to the Bill in its pruent form. The CHANCELLOR of the EXCHEQUER said, that as the Hon. Member thought It his duty to persevere ire hi*opposi. tion to the Bill going through a Committee that night, he would not oppose an adjournment: he would, however, ask the Hon. Member to bring in a separate Bill, in which he ought embody his different clauses. The discussion was then adjourned to Monday next, in cease quence of which the Chancellor of the Exchequer postponed his financial statement to Muriday. 7th ,larch. BANK CHARTER. Mr. HERRIES moved that there be laid before the Howse an extract from the Batik Charter, relative to the power of the lh rectors to lend money on teerehindlse; and also a copy of the by law of the Bank concerning.the same. The House adjourned at Hoar-ewer ONE O'CLOCR till Mon day next. iT - EXICAN SIX PAR CENT. LOAN.—Notice A. hereby given. that in contomitv with the 4th Article of the Contract entered into between the Mexican Government and .Masan. Barclay, Betting, Richardson, and Co., ONE HUN. DRED AND EIGHTV.THREE CERTIFICATES of the above LOAN, amounting together to the sum of 27,000 f., as pre" particulars at foot, have been porehase.d with. the funds directed to be set apart from the proceeds or the present Loan far the purposes of formini,' a Sinking Fund. puisuara to the tenor of the General Ron_ ,c 1 and that such Certificates *ere CANCELLED a nd DEPOSITED in tha Bank of England, on the 21st day of Febru. ary, by the aforesaid Messrs. Barclay, Hefting, Richardson. and Co., in the presence of Vicente Itocafuerte„Esn. Charge d'Affairew from the 'Coned States of Mexico to Great Brimin,arld also in that of Mr. dbrahar9 Peell, Notary Public. CERTIFICATES CANCELLED. Letter 2509 1164 6344 7269 10383 14038 14086 1128 2781 6230 6576 7279 10441 14039 16076 1695 27106 62341 6591; 742 10141) 14040 14068 697 2797 621.1.1 6597 7:27 10520 14041 /1135 1698 2798 6248 6708 7338 10521 14042 14199 1780 2944 6327 6723 7626 10522 14049 14201 1781 3425 63211 f 3113 7627 10657 14060 1421)2 1782 3426 6329 631.6 7853 10658 14051 14203 1712 4162 63:91 7028 nu 10737 14052 14204 17e4 4363 6331 7029 8934 10738 14053 14205 1785 5944 6332 7187 10055 11724 14054 14220 1791 5912 6 3 33 7138 10056 11725 14055 14207 • 2058 5/88 8334 7139 10057 11726 14056 14208 2217 on 6335 7140 10058 11727 14057 14216 2218 5990 6336 7141 10059 117211 14058 14217 2219 5991 633: 7142 10060 11729 14:29 14218 2220 6925 Gus 7143 10125 11761 14060 14219 2234 61146 6339 7249 10126 11762 14061 15333 2242 6047 63.10 7265 30127 12699 14662 15400 2243 6217 9:41 7265 10148 13555 14063 15470 2244 6218 6342 7267 0150 13656 14064 2. 2 58 6219 6343 7268 19383 14037 14063 Being 174 Certificates of 150/. . £26,190 Letter IX 4286 3303 5729 6115 6129 6124 6168 6276 6392 Being 9 Certificate. or 1001. 0 £9OO Together 183 Certificates to 07 PRICES OF FOREIGN Draxtllen Iluncl4 64 5 Colamh!tn Bclxri Ditto Bonds ;let 4 , 35.11 5 6} Ditto Acct. 441 5} 6 Danish Bonds 52 DIM Ate?. 57 French Renter 5 Cent. 6Sf. 50c. Exchange 23f. Mk. Greek Bond. Ditto Bonds 08281 lel 18 Ditto Afet. ISt 17 STOCKS YESTERDAY. Mexicsn Bonds Ditto Bond. 1826; 381 # 9.1 9 Ditto Acct. 89 3 9 Peruvian Bondi 81 313 3 Portuguese Bonds Prnssian Boothia, # Pittu Bonds o 829) 68 I ayslsn 807141 ni t I it Ditto Acct. 78 76 Spanish Bonds vi I Ditto Bonds OM) 1 / 4 lANUE YESTERDAY. COURSE OF EXCH. Amsterdam C.F. 1219 Ditto at sight Rotterdam 2 U. 12 14 Antwerp Hamburgh ... .4 U 37 10 Altona 2e U. 87 11 Paris, $ days' sight ' 211 70 Ditto ' 2 U 25 95 Burdeauz . Berlin Frankfort on Maine £1.7. M 1261 Petereburgb, rble ' 3 Us. 9 0 Vienna, effective 8 ' 2 111. 10 25 Trieste do lO 25 Madrid .... .. Cadiz Bilboa 36 Barcelona 26 Seville ' . 20 (Abreast Legbona Genua..... . .... Vettlot i• • • • , Malta Naples Palermo per °LILO Lisboa Oporto Rio Janeiro . 46 Bahia 4l! 1100noto Area Dublin, 21 days' eight Cork ........ sizziox, rza oz. s. d. Portagal Dolt, In Zola U v v Foreign Gold, In ban a 17 New Doubloons I 0 V New Dollars I ♦ 11 Street, In ban, standard - YZICiftcTP in AI Ig I I EM YESTERDAY. Anglo-Mexican British Iron United Mexican Pitt° New Welsh Iron and Coal:., Shme. te/0. 100 40 12e dis . 100 30 12 dim . 40 20 11 paa • 4 . ) PR 26 20 V* 20 2 1 j dna IRAN ILAILWATII. Liverpool and Manchester .. NISCILLAWIOVII ?rlsh Manufactory Van Diemen's Land Agricultural 241 Protictor Aro .. pie Nrittglit Ptetoo. DRURY-LANE THEATRE. This Evening, SATURDAY, Feb. 20, will be perforsied the Romantic Drama of FAUST n. Tba principal Characters by Mein,. Wallack, fluky, J. Bimetal, sad littwiliiam ; alkses Stephens, I. Paton, and Povey. Altar %%hie!. Gymnastic Exercises by Il Diavolo Antonio, &c. To conclude with the Opera of Den ERtISCRUT2. Adolph, Mr. T. Cooke ; Caspar, Mr. Horn ; Bernhard, Mr. Bedf,:ril , Kilian, Mr. Eitrit daunt , Louie!, kr. 0. Smith. Linda, Miss Graadon Ross, Hiss Furey. On Monday, kfolvina ; and the Pantomime. COVENT- GARDIN -Th rli . This Evening, SATCHDAY, Feb. 26, MilitieptrfUffLlOd the Opera of ARTAXERXES. Artistries, Madame Veetris ; Artabanes, Mr. Phillips; Arbaces, Mr. SSW:MM. Mnodane, Alive Paton. A fter which the Farce of A ROLAND FOR AN OLIVER. Sir Makek Mime, Mr. Yawtett ; Alfred Highflyer, Mr. Jones, Mr. Rayner. Marla Darlington, Madams Vostxls. To conclude with the Comedy of CHARLES THE SECOND. Ring Chitties the Second, Mr. C. Kimble) Lord **cheater, Mr. Jones Captain Cupp. Mr. Fawcett. Mary, Miss Helme. The Ralston Passe enced publlehlog yesterday inorniag at bale poet six o'clock. LONDON, SATURDAY, FlEatmay IS, MC By the Etude that arrived last night, it appears that the Committee of Inquiry into the events of the 9.6t4 of Dec., at St. Petersburgh, is still actively engaged, but nothing has yet been officially published with respect to the result of its labours. Letters from Corfu mention that the Turkish troops who are besieging Missolonghi ate in want of provisions, because the bed weather had prevented arrivals. The Paris Morring Papers of the 22d are tned with debates in the Chamber of Deputies resiecting M. SsLassarty's proposition for bringing the editor of tbe Journal du Commerce to the bat, which has been adopted. and the offending party is to answer for his oonduct before the I)eputies on the Ist of March. The Constitutionnel ctates that the editor is to be assisted by an Advocate. [From the Etoile dated Thursday, Feb. 23.1 Pit rs , Fs a. V. AVe have in the Impartial Correspondent the following amount* from SC Petersburgh, of the Ist February The Committee of Inquiry into the events of theft!' December is actively engaged; but hitherto nothing official has been pub lished respecting the result of its labours. Nobody has yet be" condemned, but the numb er of arrests increase. All those who appear not to have been immediately intplitiayed In the conspiracy against the Government have been set at liberty, as has been done with 51. Somow. The day before yesterday M. Iluulatoff died, This is t'•• • - • 47f .