The British Press; or, Morning Literary Advertiser. — London, England, 1819-05-26 00:00:00

LaneaFter, auclionftrs, to Fun val. r, Junt 14, 16,and J ily 6, at ow-, at the Georxe lun, Palr-stiett, Liverpool Itto; nen Melon. Plitt and 6ewlet, Lisetpatl; ■od Pl. arc. blot - Work and Butter, king'. Bench 114:k, Temple, ) itos.hon. Matthew P• nny, of Slsepton ♦l.,llct, Somerset, curs factor, atm...o4r. June 3, nt ten, 10, and July 6, at elven, at t'.e Cenree Lot, Sin ptun Mall t, Someriet Attorney., M. ♦la.k 11, Allepton Mallet; and 3lrsara.liing and I...kin, t Ito. square, 1....ndu0. J•nlr‘ Ile i genA Mum, lair of Lan• r vet', rorr, to uurrnd r, June 8,9, and July 6, at two, I • the Whole Bear lien, Maische4ter. Attorneys, Mr. Gil.. I •n, A-htue•nnder-Liar; and Mr. Battye, (la:merry lane, 1 • ,4,n. /il , Mayors ontl !ivory Moto, of Clrpster6.l.l, Dub', t .1.1 Lomas Tindall, lot (*hush r tl, 1)11. horn, lint roantsfactorrrs, to aorrroo. r, Juts. 10, at !IX, I I, and July 6, a/ ries , us, at t h e Augrl Chestrrfi• th•rhy. At torn. Messrs. lames sod ellikhuns, tutu 1.1 rood, i n. plc, I motion; •nd Mr. Tlaoinac, I•lostrrfirl.l J .me s 11'illinitil. Materkester, lasocssitc, crocer, to astrcatler, Juoe 14, 15, end July 6, at ricscit, at the Dui Tarcrts, asisstate, Manchester. Alto, so)s, Mr. 11.1itin }nod. Mut stirs t, 31.tatclicster; sot/ Prikin, and potty liolhorts court, Gras's lon, !motion. nrirley, late of %forlorns, I. , totio.le.', mer e low, to barrens!. r, Jane 10, at twelve, 11, and July li, at t.o, at the iVister Hear lon, 31 oteliest.s. 4.llington and Grecory, 11..ilforsl.row, London; ailJ J Morris, Sinitsg-Itard. us, Nl.soclo sh r. . - Joins Cute Airy, Liaerrm.l, I,anra , ler, merchant, to "frena!", June 15, 10, and July 0, at one, al the George Lot, liale street, Liverpool. Atiurni 5., 11r. J. riiiiimry, .u 1 f Cecile strut, Liverpool ; a n d A1e..,. 'taco. and John, Temple, Loudon. (Dit idends,Ceelificales, A e. fa owe meet.) IMPE.RIAL PARLIAMENT. 110VSE OF LORDS, TVeSDAY, MAT 25. ACCMINTS. Emil, from Ike Chttoto r of loodito, bri,liztit up an Account "few nropl and expeudilutr of /vph.in I 1.. r Ilk• 11,4 year, mud •crest other Aottooll Acton:its —Lod 011 the table. ERASE'S RELIF.F The Moo., voolve.l iforlf into a Coma ittrc to eon-iitcr pr ct, 11.3 f .r ihe irk. f of Meows. Chi, bookers. of M 4• clauoi.oe crelblors of Ihr !SAO) of Itec Coo static. u cre n, nt r..nrid+•rnitle Irttelb •Ruud lite 41 .1 it, Oh b .t.l 44: lire List Ityli4 Cum pmay. I'll E 1)(1;"' URI N E OF TRANsUBSTANTIATioN Ertl ;NI. nig rctiUrsted tlwt the Counsel nen ithshaw, begged leave to submit to the I lou•e IL. purpose of sepraling the Acts of tlir V 3,11 Ni!.. 3.):h of Charles the Second, requiring permit- p.eviou. to ailnits,iod into places or ollieet, S. take end subscribe certain declsrations against of d e, ....e of T..c:suboxiitiatioo, and the itiVU4l:4. 1,011 of 1.11 do. Ile coul.l not anticipate any ob. j ctio.i to at least the li•st reading stud printing of 1::is MIL and from the sentiments expressed d ue . peg t'oe Lite discussion on the claims of the Qom so Carliolies t V.. 11 ht those who most opposed those eta. ils, Le eiit•-riaiiied very sanguine hopes that the isirasurt wool.' eventually asset their Lordships' fur• .t concurrence. The measure was nut framed uitli the iistenti 111 l of removing any of the exists ing I. 140 which Were supposed to form the seen. ,lies of the Protestant ascendancy—neither was oLi ci mote to relieve Kunsan Catholics than Protestants, from taking these dram. sa.iic.s. The adoption of it would he it. coats'. I .,ii w w pl s th e priseciples univer s ally recognised Oil this iheali.re. No) brelltily Could hr supposed to t.. 1.1111 to the Established Church from casting • t tip') t ilia the mere religious doctrines of another ► c., hating Iso relation to political of civil princi- I s To relieve the Rooms Catholics from a isiagma, at. insuli which no nom could imagine were tatrii•ll, %JP slit sole object of the Hill, and to such &, 1.. b it sso obrctims could be urged. If h• ts ... to the first reading and print ill the Hill, it was then his intention to more use •rr..1611 rEstllllllg 011 Finlay fortnight. _ 1 h.. %sal, thou mot • first note t and the tmel• *tit trnirred to be summoned fur the act...trud , aa d i t r• CIICRCIIEN IN SCOTLAND. Earl Or I.ALGrfDALL inqseireil whether it was in- I• a itl *Ulf:nil • proposstia• Ilan Sessioa lu Parhauncui, I .lsut Wiliam: of Churches is' ticuiland. 111L%11.1.1 r h p__c_, LAI such • Mea.i•re Li ioEMI- I - ft. nr I.ALDLRDALE said. that be, f.r ose r rhuul,l 0; . 1461 , 4 •131:11 • piuposithsu; list be care molter, that if At 1:111 Gar sLn* plumose contained • clialpie, 'sublime the I , .tr on of she Earh.tiurr and the Coramaiastiouera sassed ID I.tr to drays f...ais she Treasury say 111111111 that they may to apppliell in the say of stipearla, mad tu IN.& I t sin 14P1 . 14 Le certainly shisslrl übjert to it. 11:RIIENCY OF TUE COVNTRY. Ih.. t LAUDLIRDALS also gave mime, that u■ the VIII .L w o rt cwceuiral fur their lordships, after the ens,. he shush' move that the Lords be annurnsued, • t hot the .1411K,s lie required to stleuJ , fur She purpose of I btaroiva hum the latter answers to Iwo questions which he vimuhl pus to them, relative to the currency afire country. •he tie: quest ite bh4341141 'MUM"e was, whether, seine. yet MI u. Ilse pe.►iag of the Act in 1774, she silver coin of I!tt• re aim, 4.4 1 . 1.41.41111 20 per cent. Willis war out a 10.14) t• 1141 hr sseoud question 11121., whether, by the Act of Alt MI stir King, aud the subsequent proclamation, gold sod sliver was the legal =ensure of value iu this country? The suss tory to these qUIIIIIUMS by the Judges uotilJ lead, he Li balitsril, to the must important consequences with I to the 4 urreney. The Noble Exel Shen consulted with the Clerks at the tobb, sud f, 'ally fixed Wrdiresilsy, the Oili of June, as the iay for is hi. la the Linda and Judgt s should be summoned.— Irrixicd lies:oat:44ly. COTTON FACTORIES. Ike tut rf Retinas intimated, dot be should not op- II" s , cued reading of the Cotton Factories Regulation but until rtserre Isisnself fur tuseillser otcaswo to take ts.* of the House oo ttsst steensiuo. CHASE'S REUEF BILL. Cutlass I *ere atria ralltd h the Hoe to be /eraser heard tbs• rms.. llie question fur their Lordships' consider v •iusi • 'Kilo, Messrs. Chase should be permitted to ay ). a. tllnr Cummisoiutieti to prove their debts This on the g Joliet the elainsauts had lent Huy to the Nabob after the passing of an Act of the 1. dna time • sprtssly forbidding all persons to lend money 14 the IN Aire l'filiCtil without the consent of the G o ve r n or of ludta. asel that no such (1/11R11/1 ors gi►en its the precut rue. .11 it ♦l.,ius a as supported un the ground, that the Act a l y e C.iu•h Legislature had not been promulgated hs I , idis b the Government of that counts y until after the lan h..., tusipletrit . • ( .0. II I It svie.g .puken on either sidr,.thry rilhdrew, and .1 aa. it,rd a scrouil tune. 9... dna adjourned. 110USL (IF COMMONS, 'EULSDAY, 51.ty 25, lie. Scutt p.eseuleil pap. tl.fren the Chamber of Loudon, euulai..tueg at C. 11111.4 of the uueleistied theultuda iu that place. IVA IER WORKX. ON flee eusion of Mr. M. A. TA ‘Loa, the Report of the Myst JL ittltrs.a a.rl Grand Junction Wore w w k s silt s ," then Lao f. •Iwi tons:titration. S,ssi ChYata *CR brought u,i, far ILt. pochrout of Axing u maximum fur the price of 'Au, the furnishing or 1 .;,.e L. ) , I, 11. r Vestrier, and rdlirr regulatiunc—The H,ll *%. thou warred to be read the third lime tn-morrow. _ . The Nanette 14ate Bill went thriiiqh a Commitlee.— Report 10-morrow. Tile Ilarrow Read Ba li aas read Cie third lime, and pas.ed. Ou Ihe motion of Mr. Nano. the Noll Small Wits Bill was read the third lime,aoJ p .sird. INSOLVENT DEBUOKS' ACT. M ► . 3 fIAW lA/Plitt presented n Petition Rum the Tills*. hitanis of the Town of Heading, "p lus. thy toonouloce of the lunolveut Debtors' Act Si► J. IN•WWPORT presented • Petition from the Ininhi. tants of Dabble, paying Ow the House would In rise doe Acts for therelief of losultrettl Thee Prtitiun• carte kid on tlk table. REVisIoN (►F Tlll CRIMINAL CoDE Mr. iTusteu• presented • Petition from a considerable nniuher of Isilirhstaste of thr County of Essex. loused by artery Illuzis.r4lea and iier4ont of the first is praying that Ilse Moose sunlit revise the Osmanli' Cole, and nut continue the en.ictmeni of the l'unislim. tit of Death ow such light grounds as at pre;:ent ois rant. DELIVERY. The Don. (Hera ..•r po.tinizo.:l 1;14 ntol;qn which stood for Thursday Next, foe II more luiptrul (; 101 e, until after the loolidaya. The fest t/111 . 11 day WAR Thuisilay, the 10th June, fur chick day lie fixed his Indian. Lord FaitixaToN presented • l'esitioa from the Inlitbi• tants of the Irmo of Dobleford, praying Cu, a brn.•r "'lie of collecting %mall Debts, and Ilio4ll for a nonlifir 'lino of the llosolveut Debtors' Act.--Ltdd on the table, and ordered to Le prettied. LAND-TAX 1111.1. Mr. linonor.n bonsoglit up Ihr Vi p ort of t'ie Committee O• the laved-Tex Commissiono %%hob wet tinkled to be nod She third lime on the n,i J 1111 E. SALT LAW% Mr. WM LAcr !wrought •p the Hill foe altering the Ex i.e Regulations upon Silt. It war read a lest time, and ill &r -id tor toe read • serolool time Ibis day furtisight, and Ito be printtd. MARQUIS OF CAMDEN'S BILL Mr BROGIDI3I brooght op the Report on the Merqnis of (%on:Iro'. TrUnship Bill; which was received and agreed to, and the till (wilt red to be read the third time iv-morrow. SEAMEN'S WAGES RECOVERY BILL (hi the motion of Cord EIBRINGTON, the Howe went into • Committee on the Neasoco'r Wages Recovery Bill—The Report was received, awl the Bill ordered to be printed, and Mimi into further consideration on the 3d of June. BC IrIION ASSAYED. _ Mr I.cenixictord inestined itccounis of the Bullion as. Bayed since on the 'We. HONDURAS MURDERS 1111.1.. n tiro wtotiero ('‘' Mr. Courdntx, ibe lloadur3s Nlar dere Bill W 35 read the third nuu•, and passed. lITATUINSTEIt GAS PILL. nn die 'tuition of Sir JAssr.s GRAHAM, the AVesuniuster Gas Hill misread • second time. CHURCHES IN tiCOTLAND RILL. (hi the motion of Mr. 1.11:111/IINGTON, the Church:/ in Scotland Dill was frail a attend turn, and ordered to be erwarsitted lu-morrow. IMPORTS AND EXPORTC TO AND FROM BUENOS AYRES. On the teolirra of Cal. - Ottvtitii, actuante were ordered of the vales of all Imports nod Eapurie frees Great Ordain 10 11$111101 Ayft% dist the value of each year. GLASS DUTIES. W. RIDLIM iuqui.cd when it wllll the intention or the Hun. Geolleuesio opposite, to brio' i■ his Dill fur the regulative of the Glass Dottier? Lanmtlferroa said, he meant to submit a mit I week ON that sutj•rt, for the regulation of the mode of taking the duties im the Act, which would expire 111 . 7 a July. Ilia motion would affect ller ergol diens now its (wee, with out altering the principle she duties. BARNSTAPLE ELECTION. 'M. mopes trout the LOS requested for their Lordships * copy of the tvideure tna the Elmastspk Election, whirls vas ordered to be delteerid. MILITARY OCCUPATION OF PARGA. Sir C NUNCK wttlted to Loner from the Noble Lord np. petite, aliellaer lie eosslJ to-morrow have poet-editor., for his tnuliva which UMW for tu•ut g ht, ro4uwe to Varga. If he lost this (La) he most pot it off until fortiii i :lo. Ile was iliirifore anxious fur precttlttme, if slut to-day, ut least to-toorioo I.nril CAnLEREAGtt replica, that tLit rvciiiiiff it WAN im possible to t sart upon the subjetl, but lie had tiu tilikeloot its settle to any ni rantemen I fur to morrow. Aber a few surds (turn Mr. TILIta CY, the inoti.ot was postponed ■util tout wow. ARRANGEMENT or PUBLIC BUSINESS. The SPIEACCIL suoisted, that as private luNnas was now so marl; disposed uf, the !Nese might Later upois public buviutes al au earlier boor. It soul,' be s great cow eesiescc to comment it insusediatel) after fuur (Ileac, !car.) ADJOURNED DEBATE ON THE AFFAIRS OF THE BANK. Ou the mai of Lord CASTI.SKE4CIII, the !louse resolved itself itilo • Coutinitter on the Rt purls uu the Resumptiou of Cad' Payments by the Bank. In the (7ummittre the CHAIRMAN slated the clut.tiou and tire umeudrueui, as moved yes. terdmv. Mi. Alderman RevnATII, in rising to deliver his sentiments upon tins question, said be did out think it to be out which could receive any additional elucida tion hum the chosins of wit or the graces of oratory— these, he thought, were, upon a question of ilium kind, rather calculated to bewilder thou instruct. The question was one of pnactical importance, and on which practical men were mint co mm en t t o give that information the f.tature of the subject re gaited. There otos uo luau in the country who more deeply lamented thou he did the original nr. cessity or the Restriction Act. It was the anise. (pence of the state of the war in which the country had beets then engaged, and were it not for that measure, it would have been impossible at the time to Lave carried on the war a mouth longer. The effect of the measure was, that it placed the country exposed to a paper a:strawy, taut convestible into a metallic currency. This ',riper was the representative of other property too, mud chiefly of (iiiverionekt securities. IN sentiments on this subject had been until lately those cf Parliament on this subject. Ou the claaast examination which lie was capable of giving this subject, he was cuss vinced that no depreciation existed of the paper mo tley of the country, nor did be think the flurtua flout in the price of gold during the period which he had meationed, at tall proved what some Hon. Mem. bets thought they did. The whole question turned on that depreciation. The fluctuations alluded to arose, he contended, from other causes °err which the Bank had tau control. If the circulation of the country were excessive now, then Mike., Porliamelit might interfere ; but lie culitended the contrary via, the fact. The a hole annaarat of t!.e currency now did not exceed that of 1793. The national debt was then 240 millions—it was now t• 00 and when the great increase of trade were coo>olered, it was astonishing that stick a circulation was psiffi client fur the exigencies of the country. Hut tat t was, that the cuidiivancee of private Bankers in the muck of seirdiriz their nutty to the 114.. k Wive a great quickness to the revolving circulation of notes, without which it was difficult to suppose the peen niary busitress of the country could be conducted. In the calculation %%hid, the Right lion. Gen tleman oppoOte (Mr. Peel) had made between the Humana of paper and gold in circulation in the year 1792, and that in 1500 and 1509, he had left out a most immaterial part ; he had omitted to take any no tice at all of the circulation of the country batik., which formed so impurtarit a branch of the vireo of the country. The 11015. Mem ber tor Poriailisigton (Mr. Ricardo) had, its his oh servatious, mated the price of gold to Ire 3 per cent. above the value of paper, and stated that it became eirceoiary, through the reduction of the issue of paper, wining sip its value to the 3 per cent. which he asserted gold maintained. Now, it was very singular, with respect to this theory of the issue ol suites, regulating the price of gold, that in Novem ber, 1817, the Bank notes in circulation amounted to t 9,2144,000/. end the price of gold was 4/. O. Gd. lier ounce ; since that the amount of Batik notes in circulation had been reduced three million'', and yet gold bore a still higher !trice than it hail done before. What, he caked, was the state of the country in 1816?—what was the state of commerce and agriculture, and of public credit In that year could any man soy that it was easy to get his rents?—slid nut bankruptcy start the country in the face?—dad not general enitierrarements prevail .? Fie woof(' hail she time that a return might with &aro y br made to cash payments, but this wes not the time. Take the case in the best shape. Suppose gold was to fall, suppose every favourable circutiostauce, still see the consequeoces of the present measure; no sufficient time would be allowed to the Bank fur those preparations 50 necessary to meet au im portant change, and coming suddenly upon them it must produce great and considerable chatrers—an the witnesses who were examined before the Com mittee lied declared. lie would in !Particular read the answer of Mr. Thomas Raring to a question which he considered a material one. That witness said, he thought the reduction of paper must always produce inconvenience, and would tend to confine the trade of the country ; but the present time, miring to the general distreqi and the state of commercial embarrassments, was above all others the must urifavoirrable. Such was the evi dence of a Gentleman, above all others, perhaps, the most competent to form an opinion on the mea sure. Let them now consider how much the pub lic distress would be aggravated by any unfavour able circumstance, which it was now impossible to foresee, but which it was not impassible to occur. In carte of a bad harvest, fur nominee, the conse quence: of the measure, added to that calamity, would bring absolute ruin on the country. The . . country 'ila a debt of 1100,000,000/.—the people were taxed to a great extent—tlbe Mete of the commercial world was not settled. and at such • lime u measure is proposed to lessen the circulating medium. See how that measure will place the lower orders and the industrious. At the expense of the labourer it will confer a great benefit on persons having fixed incomes. The re ceivers of dividend. and public annuitants will be ... unit, but the community will surfer. Ile did nut thud: that the proceeding of Queen Elizabeth had any fair ftrefellet to the present; the situation of the country then was very different from what it is now. At the time of Elizabeth there was no na tional debt, and bat few were. The Batik had mule all issue of 7 millions of gold at the Mint price in Ilse, year 1817, but what would he the price of gold now if the Bank had not sent in so large a sum ? It was, in hi. opinion, fallacious to estimate gold at the price of 41. Is. per ounce, because, influenced by that issue. gold bore that price heretofore. From the evidence of Mr. Hart, it appears that the exchange sualket is capable of great operations, and there are individuals inter. ested in raising the price of gold and influencing the sate of eschew—what security load the public that these persons might tint be active in a proceed. jug to which their Interests would induce them ? what security had the House that there would nut be a run on the Bank in February I—who could ste that it would not be the interest of dealers in gold to make a run on the Mink ? and if so. • the Batik would have no protection but in Parlia ment. at a time whets it would be difficult to persuade Parliament to grant that protection. The crlannoty tt.at would follow would be truly painful to describe. The &holt of England should close its (louts —every merchant, sod isoatsufacturer. and agriculturalist would be obliged to reduce his rata. blishmeot. The eutorequence would be that the poor would be thrown out of employment. and the poor rates would be consequently increased. lie slow spoke the opioioos of turn who were ex tensive:y engaged in comineice mid agriculture. As to the es idence before the Committee, no doubt the Gentlemen examined were highly respectable, but there were no agricultuntlists and too country bankers examined; and would, he twked, the Par. hrmeut be guided in this measure, founded oil the evidence of one class, against the best interests of another? Let the Haute contrast the state of the country at the present moment with its appearance at the commencement of the present Session of Par. fitment. At that period, commerce had revived and credit flourished ; but 1110 W there was nothing but siagiartion anti distress throughout the country; Out miserable stale was not confined to London alone, but pervaded the entire of the enapire. If the !louse passed the present meusure, he was coo. winced that that distress would greatly increase-wthe alum, of the country would extend—it would nut Lie confined to the ignorant, but it woulJ be the utll-grounded alarm of the prudent. If nothing shall be dine to mitigate the measure, lie predicted that before Christmas nu landlord will be aisle to collect his rents, the state of the pro. pie will he wretched. and eurnmeice and agriculture will be in u state of general cutifiesion and decline, There was a considerable difference, he said. between the present time and the period of the Rank Restrict' . At the time of the he striction, gulil was the great ciiculating tioeilimii, but idler February next, gold will be scarce, :ind the circulation of paper will be considerable, and a considei able run will have the effect of *topping the 1:41.1: of England. The consequences to the country would be too calamitoots to mention. Anil nazi this what the country had to expect after the many struggles she hail made. and when she was harassed with a debt of tight hundred milliiins The chief evil complained of was, the power that the Bonk of England had over the circulation of the country, a power unprecedented awl excessive; hut would Ow prusent mea►ure tend to lessen that power ? llr, contended that it would tend to In- • crease it to a great degree. They would place for the present ten millions under the immediate con trol of the ILA:, whith would have the t-Ifect of pitting; the coo 11111 l ',Tied houses of the country nos der the caprice of that Corporation —they might re gulate olio discounts as they pleased—they might refuse those discounts as they pleaseil--iii u word, OM very measure would give the Kink such power as they never had before. The ametidinent pin posed goes to omit the 4th ;old atli Itesolott...s, 0011 its adVilillilge was this, that it gives one. trans Inure 10 the Batik of Loglamil soil the oriiwOrf baiikers to make their arraitgenients ; it gives one year more to the B ink of England to purchase gold, and to prevelit that cunfosi 111 l and em barrassment which is likely to fulloiv. Tile pro. limed measure was recommended for giviii.; tlie country security against the II mit. It was said that the Lank might not be soitere, and isoolil not retiirii to cash payments when the tone that woull 1 enable them to ilo so AlOlllll art Ire, Hut he thought 1 this biopic : oi l 441togolier grouliillesi. When the 1 l'ailiailient nod the Government had their eyes 1 piaci , il over I heisi—ei lien the Directors of the Bank ' stood iip In that Howe, and declered the wish of Ithe ilailk to velure to cash payments, he did not • see why they should be exposed to such suspicions. Why Hot give the Batik some porttoa of that con fidence which our ancestors reposed i:: them 1 If they were unworthy of that etedideuce, they were unworthy of carrying 011 the business of the Bank, and their charter should be repealed. The Batik were certainly not blameable fur the present state of things. Ilad the Guverinuent paid the Batik the amount of their debt, idle Bank would now be able to pay in guild. The present mo ment lie considered the most iojudicious to re• vert to that state, and he called on the Govern, meet to hesitate before they plated the country in that calamitous state that must inevitably follow— thousands will be ruined —many here nearly been ruined already by the mere coutetnithition of the mem-. e. It had been said that these persons were 1 speculators; that they over-traded. If they did, it was not to be forgotten that they were led onto dime speculations and over-trading by the conduct of the Government, and that they were nu* entitled to consideration and protection. Sir iii ally PAILWELG said he differed widely from the principles laid down in the speech of the last speaker. Many of his observations were founded on misappreheusion or • misrepresenta tion; the evil, he anticipated could only take place, if they could at all take place. 111 the event of the Batik being instantly required to recur to cash pay. meets. Fie (Sir Henry Purnell) did not think that we have had a legal standard sluice the year 1797 ; the legal standard was suspended in that year, and since that period the country have had no legal standard whatever. The Hon. Gentleman had said, that before the y ear 1821 circumstances might oc cur that would induce the House to depart glom the plait now proposed. Ile (Sir Henry Parnell) saw no reason whatever to suppose that the House, i after resisting so much, would he induced to depart from a fair standard, if that were once established. As to the suppose , ' inexpediency of a measure that would induce a depreciation of Bank paper, lie dd . - . fiord on this head widely from the Hon. :Member. i Ile (Sir Henry Parnell) thought it politic and wise that Parliament should make a stroll; declaration I now, if they did not they would leave the case pre cisely as they funnil it at the commencement of the present Session. If the amendments of his Hon. Friend were carried, they would leave theciisculating medium of the country at the discretlllll Of t he Batik. The 4th Resolution moved by the Right floe. Gentleman (lr. Peel) obliges the Bank to pay, after the Ist of February. 18 O, gold at the rate ' of 41. Is. pet ounce. Such a Resolution, lie thought, ' was absolutely necessary, for if the matter were to be left to the discretion of the Batik, when the period would arrive, lie had Ito Outdo but that they would so contrive to influence and , to regulate the price of gold and the course of exchange, that they would have ,;cite as good a case against a recurrelice to cash payments as they had at the commencement of the Session. The Resolution was a politic one; because it fixed a limil to the price of gold at 41. Is. au ounce, teal he would therefore support it in preference to the amendment. Having, he said. taken a part on a former occasion on this subject. when it was brought before Parliament by his late lamented friend, "Ir. Horner, it was to Into, and to those who acted with him, no small cause of triumph. that the principles laid down in the Report of Mr. Horner were now fully established, were iicquiesced in, and even warmly applauded by the very men who at the time oppow4l, and fur the moment defeated then. Ile indulged in this honest triumph—it was vatusble, not merely as it operated on the present it 11111 l eel, but it would tend to convince the country, that though men may be found in a minority they are not always in error, and it could not fail of bringi n g into practice (hi se sound principles of political economy which Ihave been so long resisted. Ile hailed, he said, the present proceeding as likely to lead to salutary con sequences, us it affected our general policy—and lie hoped to see the Statute Book cleared front many laws which, in a moral, political, aid Minutia! point of view. tend to injure the best interests of the CID.. Orr. The Hon. Gentleman who stroke just before I l i 11l , had complaiued of the Resolutions, as likely to injure public credit, ai:11 to depress nit:remade men. No doubt so decisive a measure would strongly operate; but how would it operate. and what ties it likely to affect? fictitious credit, and that over-trading +tem. that wild speculation which haul 1141 firm foundation; it would street those who indulged in those specolations. But there was 110 1111111 who felt for the real prosperity of the Collutry, that did out wish to see this nue:aural and itijurious state of things put All rod to. It was, lie conceived, a great mistake to say that the di tin ma tutu of currency would produce a scarcity of Insley—a scarcity of moiety pruceeds Isom other causes, bum the stateuf the markets, when the trader is out able to dispose oh his goods, and when disc is ate con tracted; and es to the quantity of discounts. lie (Sir 11. Purnell) dad out see that if gold were at the . Alia price, that therefore the Bank would Le in duced to reduce the issue of the quantity of paper. ll' the Baels liourstly and discreetly conduct unlit • affair3—if they watch the operations at trade —n they skilfully conduct their husines., as no doubt they will, nu material injury. in his opiturni, could result from the Resolutions—and certainly ilie anticipated were not at all likely to flow hunt that measure. The lino. Baronet next adverted to th e influence of the (Ism)? Laws on the affairs oleo',. merce, which lie considered most it - kits:ions. Th e ri) stem th 4 hail been hen tofore acted oil, and hiria led to this result, that it threw the whole re. ,gulation of the circulation of the country into th e ilidll4ll4 of a Company of Banker., to he divo•eil w at their discretion. fur their interest, or at (Inn e. This system was one, lie sail, full of roust evil eiiiiserpiencet. Ile wr;u gait that they haul now r•imie at length to a period more I.ke!y t o place the interests of the country on a mine selol foundation. lie applauded the Itesolutini.4 pro. loosed. Ile would he story to tee the amendment of his Hon. Frirrnl earned iu preferenc.! to those Itesolusions—if it were i arried lie would then for ever despair of smog the country return to u reel standard. He concluded by saying he would vi(. Tingly vale for the Resolution.. Mr. H. Gunn kr robe next, but the greater part of the lion. Gently man's speech was protioanced in 4 tout of waive sii very IOW as to render him altogether inaudible in the gallery. He spoke against the Re solutions, and said, that the Resolutions propopi d in 1797 had filled the country with great alarm— that alarm was occasioned by the then amount ut the debt, and from air apprehension that Goverus insist would not be able to pay the interest at the price of gold. The guineas had disappeared, and never would return. lie said that the issue al silver at 66.. the pound troy, had given universal satisfaction I and had the sove.eigns been i..ired at the mine tune at the valise of :As. each, the s:- Nation of the country would be now very different, sod they would not be exposed to the excessive ca. lainities which the adoption of the present plan Jury bring down upon their heads. That turas:ire, hs said, would operate on almost all classes of society with the greatest severity ; it would operate as property tax of 3 per cent..—sou the industrious trailer, on the agriculturist, and on the lower order, it would have this effect—whilst the stock holders, the severest toasters that ever rode on the shoulders of any country, would receive the full amount of their interest ut the time when the value of the circulating mediurn would be reduced toa greatly dimiuishrd standard. The issues of the Bank, he said, were 25 minimal, eu milimis of which were due by the Government, and the Governmt it now turns round on the Bank awl says, " We, the Government, will pay you these .20 millions in the note* %%loch we fabricated for our mutual accolumodatiov, b o g you must fluid bullion to meet the demands of the public." This he did not think was perlectly . fair, nor was it practicable; and let them put the question as they would, no matter in what point 01 view it was considered, it would amount to this.—the', at a time when they were burdened with an ahnost ia. definite extent of taxation, and with a diminution of their mewls. they sought to contract the circular. tion—a measure which must lead to obvious em. harrassinent. Instead of a proceeding so violent, he would suggest x lair and friendly composition, instead of attaining those cords which will best straining no longer. 31r. Meatus° explained. Lord Fouts/tan commenced by saying, that the country would feel rejoiced at the return, at length, to something like a certain standard—a measure au long wished, and so long contended far, he was glad to see about to be established.— The Noble Lord nest said, that part of the state. meta of the Right Hon. Gentleman who proposed the Resolutions was not perfectly fair. That Mght Hon. Gentleman had given great credit to Qatrir Elizabeth for having lowered the standard of public money. Nu doubt the measure was judicious, but Lord Liverpool's work, cited by the Right Hun. ' Gentleman. states that the measure of Queen Eli zabeth was touch iriferiur to the measure of her hro. thrr, Edward Vt. who had before her altered the atatidard of the realm, and reduced its hominid vire due. The mutant the measure was, that the want of a certain standard of value occasioned frays at fang and 11141 kits, wild the people were glad to crone to nil hard and settled principle, by which they might know the intrinsic worth of what they pus. iirretl, and thus be freed from those frequent ucc i- P 111011 i of quarrel. His objection to the presei.t plat was entirely abstracted from the principles on widen it was fouuded. He had always felt the truth and justice of the ground on which the Bullion Com mittee proceeded. His quarrel was not with those principles, but with the mode of proceeding whicii I the Cuususittee laid down as the most proper to ar rive ut the destined end—and he rather inclined to the scheme of his Hon. Friend (we believe Mr. F. lice), which was also founded on the principles promulgated by the Bullion Committee. His great objection was, that much inconvenience would Ile. eebratrily result from returning to the old standard. ...Before he proceeded to argue this, he would briefly advert to the principles on winch the Bonita, Committee founded their Report. NVhat had or cently occurred with respect to that Report ,hewn", iu the clearest point of i•iew, the great beiletit that was derived from extensive discussion. Ile had uu doubt, if the lloti. Alderman (Heygate) continued to tleuk on this subject, and exerted on it all the iii. Kemeny which lie appeared to possess, he would dually he led to change his opinion un particular points which he hid touched on in his speech, some of which he had. in fact. contradicted in the coupe of that speech. lie had argued, that the Bank had lowered the price of gold, by issuing a quid:- Lty of that metal. If he had contidered a little be would have found, that the price of gold depended greatly on the issue of Batik paper. When goal was set afloat, this issue was contracted, but if is were stir:reused, gold would rise—and thus the pro position would be established, which the Honour able Aldermen had denied throughout, that there was a depreciation of the paper currency. Ile re gretted, when the Right Hon. Gentleana. (Mr. Peel) was candidly expressing the change that had taker' plaice in lila sentiments, and 11:111111111: distress (a distress which lie sincerely believed Right Hors. Gentleman felt) which had alit end tllie country for the four last year*, because bath rrs IllqUiry as that which had takers plait, was out adopted, that he had riot eviller(' Rome de gree of roomed, for having contributed, us 11/110 1 as he could, by the votes he had given to I House, to prevent the investigation a auti• t l 1 7 . i • No tI4 'U th 14,