The British Press; or, Morning Literary Advertiser. — London, England, 1826-02-11 00:00:00

et-G_ No. 7,229. Parr Ecet, Wine Gin Raw Spirits Vinegar 111 sots* es Sugars 1 Ta Cooom perver Candles Printed Calico Haw*urines Foniirn arm* Ram • Omen - Coppers Stills Llkespre a quantity of beef: factored Tobacco, Seisms, and Sn Sunni .% of the Spirits, Tea. utensils to be sew at the Wet February I4:11, to the 20th. fec raoroiega of Sale. from 10 till 12 had it Gd. each. Levis Dohois, Esq. MN. Potter, by Mr. Brut. ton . I ft Ey the Righ t Rev. the Liam ? of Chester. Mn. John Jones Cony. heart - 3 3 'lr. T. B. flnpgood I I 3lessrs. Lewis and Alston , V By alessrs. flamnitrsley and co. Junes Ev-ina, Esq. 3 1 . 1 ilia D. Davis - I 0 U. U. N. G 0 lir Moire. llopkinann ard Co. The Hon. and key. I.)eßn of Leighlin, grateful for British aid extended to tn 4 Psrishioners in their 1 'lister,' 10 0 1 by 31egori. Coutt• and en. i Lord Barh am . 3 0 behaeriptions are received by t Wro. Itsle, Esq. Treasurer, and CONTRACT rot, BIRCH BROOMS. NAVY.OFPICE, Feb. 9, 1826. THE p . rineimil Officers asut Commissioners his afa fay s Nervy do ktrcby ere Notice, that on Tll URS DA Y. &Id of `latch neat. at One o'Cloe.k, they will be reade tn treat with oat h Persona as mew be willing to Contract for supplying kis Ncsoty's Dock YardsBIRCH at JleptioßßOOMS.rd and W ooLwkb with poems of the Brooms, and a form of the Tender may be wen at 0 Office. No Tender will be received atter one o'clock on the day o f treaty, not illy noticed, unless the party or an agent for him attends. Ern, Tender must be accompanied by a letter addressed to the Navy w ar d, a nd signed by a req'unsible person, engaging to be ton•e bound, with the person tri.dering, in the sum of 2001. tor the Lee perform met of the Contract. OFFICR, LONDON, Jammary F. IBM TO BE SOLI) DT AUCTION. - BY o.olttr of the Iloowerahle the Commissioners of his :11.7;esty's Excise iirrrrtme, in a aracioue Itoont. at the Beebe Office. Old Brewtatteet, on TIASDA Y 21st, WED NESDAY 229. THURSDAY 23d, and FRIDAY 24th of Fe bruary, 1826. at one o'elack each day, the following Goods in Leta, Leaf to various purchasers . bead Pewter bon Casks, as,l various Uten sil.. and British and Foreign Manu a!: Coffee, and Tobacco, and the rehouse,thd Broad-street, from om 10 iill 2 o'clock. *neon the o'clock, where Catalogues may be EAST INDIA HOUSE, Feb. 11.1,18•36. TR Mart of Directors of the United Company of Afuldieopres of lisitiewil vesting to the East ladies do hod. Om Notice, That the Court will he ready to receive Proposals in writing, on re before WrDWIStieT, the 11th of March next, from the Owners of gond sound and substantial SHIPS, of the burden of ftom Poor Hundred to Eight Hundred Tons registered Measurement. speci fying the Rate of Freight at which the, may be willing to let such Mips fee One Voyage to and from Bengal. That the Court will also be ready to receive Proposals in writing, on or before the said 'Wr, latliDaY, the 13th of March next. from the Owner or Owners of good sound and eabotantial COPPER BOTTOMED SHIPS, of the bonito of from Five Hundred to Six Hundred Tont registered Measurement. specifying the Rate of Freight at which they may be willing to let such Ships foe floes Voyage to China, and from China to Quebec, in North America, at which Port they are to be discharged from the Ooenpsny'a service. 'Pita the Court will also be ready to receive Proposals In writing, OR Of before the said WZONZSDAT, the 15th of March neat, from the (loner or Owners of (good sound substantial COPPER BOTTOMED SHIPS, of the burden of from Five Hundred to Six Hundred Tone registered Measurement. specifying the Rate of Freight at which they may be willing to let sucltShips, for One Voyage to China, and from Chins to Halifax. in Nova Scotia, at which Port they will be discharged from the Company's service. The Tenders, with the words, •• Ship Tender, on the corer, to be severally sealed up. and left with the Secretary, at this House, at or before Twelve o'clock at Noon, on the said M'inttasnav, the 13th of Much, beyond which hour the Court will not receive any Tender. JOSEPH DART, See. The particulan of the terms, and conditions upon which the ships will be respectively employed. may be had upon application at the Office of the Clerk to the Committee of Shipping, at this House. on or atter Wednesday neat, the 11th instant. ST. GEORGE'S HOSPITAL. FEB. 9, 1826. HOrSE STEWARD IVANTED.—He must ,be a single Man, without Children. between 30 and SO years of age. The highest testimonials uto character and capability will be en quired. Salary 50 Guineas per annum, and Roanl and Lodg. i ing n the House. Persons desirous of the situation must make personal application to the Weekly Board, between the hours of :welts 11101 Two, the nest awl two following Weigasday. The delta may be learnt by itsguiry of the Seaetary, tx Ss lleepttal. By order. JOSEPH GUNNING. &crew,. IFA)RGB BUCK'S BANKRUPTCY.—The Cre ki dittoes of GEORU 1E BUCK, of Regint-street, near /I snorer square, in the County of Middlesex, Tailor, Dealer, and Chapman' who intend proving their Debts at the Meeting appointed for the Itlth imtant, at the Court of Commissioners, are requested to fur ntsh us as early as possible with the particulars of their Demands and the nature of the Securities they hold (if any), with the name of the Partner who intends to prove, in order that the Depositions may be prepared previous to such meeting BLIALKLOW and JONES, Solicitors to the Commission. Frith. vet, Sohn-square, Feb. 10, 1826. `SOCIETY FOR THE ENCOURAGEMENT OF ARTS, MANUFACTURES, AND COMMERCE_ "ADELras.Yr.s. 9, 11326: The Members of this Institution are respectfully informed, that an EXTRAORDINARY GENERAL MEETING of this Society will be held on WEDNESDAY Evening Next, the 15:11 instant, for the despatch of business. The Chtir to be taken at Seven o'clock. S By ceder, ARTHUR AIKIN, Secretary. IMPERIAL GAS LIGHT AND COKE COM PANY. At a very numerous Half-yearly General Assembly of this Company, moluant to Act of Parliament, held at the London Tavern his 9th day of February. 1526, ROWLAND EDWARD . WILLIA3IS, Esq., Governor, in the Chair, After • Report relented by the Board of Directors of the pro ceedings and prmprets of the Company, and • Report from the Addison, whereby it appeared that the constantly increasing re source. of the Company had supplied Funds to make a Ilalf-yearly Dividend. at th e ra t e o f N. per cent. per annum, after appropri sting one.eighth to the Contingency Fund, and would then leave a considei able surplus at the disposal of the Company, tht Court proceeded to approve such Reports, re-elected as DIMICTOIIIt, Daniel Adams, Esq. T. F. Power, Esq., and C , . B. U. Barrett. Esq., M.P. i John S.nith, Esq. And av Arnyrnit—Ltienrecr Fernie, }:sq. who had vamed their offices by efflux of time, and voted unani mously a dividend at the rate of - six per cent. per annum on monies paid on each Share. _ . . __._ .. And unanimously Resolved—That this Assembly, much grati. Red by the prosperous situation of the affairs of this Company, in these times of general depression, cannot but attribute these testis. factory results to the zeal, perseverance, and wisdom with which the affairs have been conducted ; and request the Governor, Deputy.flosernor, Directors, and Auditors of the Company to wept their respectful and cordial thanks. Resolved—That the thanks of this Assembly be presented to the liovernor for his conduct in the Chair this day. By order, D. MAYHEW. Assistant.Seeretary. S l'l I'ALFIELDS.—DISTRESS o f t h e SILK WEAVERS. Feb. 10, 18 At • MEETING o f t h e COMMITTEE h e ld this day in 26. the Vsevy-room, Spitaltields, Right Rev. Lord Bishop of CIIESTER in the Chair; notAted. That owing to the very many applicants for relief, which sp to this day have reached the number of 8.781 eases, and, averaging four to a family, amount to 15,124 persons, the demands at their funds have been so great that the Com mittee are under the necessity of stating, that unless the Fund Commit at their disposal be promptly and considerably wigmented, the Committee will be compelled not only to refuse all fresh ap pleatlows, but todiacontinue affording further relief to the distress. sag oases that have been already submitted to their consideration. Amount already advertised £7,614 14s. s. f. e. 6 0 I By Messrs. Snow and Co. Wm. Collins, Esq. 2 0 kohert Parnther, Esq. 1 0 By Messrs. Freed. and CO. Wm. T. Freed, Esq. 10 0 Eaton, Esq. 1 By Messrs. Goslings and Co. M. 11.. A. H. - 2 2 IJ. C. Reeve, Es?. 8 0 H.nry T. Curtis, Esq. 2 0 C. Itirington, Esq. 2 0 i By Messrs. Hoare. The Rev. James Distal. 8 0 Hugh Leycester, Esq. 10 0 Sir M. Cholmeley, Dart. 0 0 S. R. Fydell, Esq. 10 0 T. W. N. 0 10 - C. H. Pilgrim, Esq. 5 5 ißy Messrs. Puget and Co. C. P. - 0 10 the Right Hon. this Lord Mayor. by an the Bankers. K .----- 4,444 0 ib lt , t ,x,A b ......_., 1m xtisL4i- ,„.,.. • . LONDON, SATURDAY, FEBRUARY 11, 1826. SALE BY AUCTION. Faablonable Stnek of Unhnlstery and Cabinet Furniture, large Olasaes, Brussels, Kidderminster, and other Carpets, aitd Cabinet Pianofortes. By Mr. JOSEPH M'A LEE R. On the Pree'!ges, 27. Soho-equate, on 210NIMIC NEXT and Three following Days, at 12, without reserve. TIIR remaining Part of the valuable STOCK in TRADE of John Day* Upholder, declining the retail bu smen cut sceotint of ill health ; comprising an unusually choice assemblage of Household Furniture, embracing every item adapted to the drawing room, boudoir; library, timing room, and breakfast parlour, fashiontble in design, made of the finest seasoned mate. rials, in zebra, Araboyna, rosewood. Coromandel. and other choice woods, and tinished-in the beat manner. The Chamber Furniture, which is excellent, includes nurnemus four-poat, canopy, sofa, and cottage bedaterds, with chines, moreen, and dameak hangings, in the nnmcdia•r taste. with goose feather bale. mattress.., and bed ding; noshogrny Main and winged wardrohes, secretatres, book- MIL, cheats of drawers, chiflimiers end toilet-standa, cheral anti other 'lessee, fire-aercens, Brussels, Turkey, and Kidderminster carpets and hearth rugs, two capital upright pianofortes, Scc. May be viewed, and catalogues had on the premises, and of the auctioneer, 112, Regentleadrarit. This day. peat Oro. th. Rd. rHE FCIURTII VOLUME of Mr. ROSE'S Trans -Ibeim of THE ORLANDO FURIOSO. Printed for John Murray, Albentaile-atteet. This day, Rvo. CONSIDERATIONS of the STA'rE of the CUR RENCY. Ey THOMAS TOOKE. f:tq. F.R.S. • Printed for John Murray, Albeinaric.atreet. Tbiedeg, 9N. 111. A new Edition, corrected. wriiretlowni enlarged, of PRACtICAL AND INTERNAL EVIDENCE against rATIMLICIS3I, with occasional Strictures on :Ur. Butler's "Book of the Roman Catholic Church;" in Six Letters, &trimmed to the " impartial" among the Homan Catholics of Great Britain and Ireland. By the Bev. JOSEPH BLANCO WHITE. Panted for Jnlin Murray. Albemarle-street. ON THE CURRENCY QUESTION. Printed for John Murray, Albemarle-street. QUESTION concerning the DEPRECIATION or the CI RRENCY 'Mal and examined. Bvo ss. By the night honourable IV 11.L1A31 II USKISSON, 31. P. kr. &c. CONSIDERATMNS on the STATE of the CURRENCY. By Thomas Tooke, Eli. F.R.S,' livo. Gs. flf. THOUGHTS And PETAL - IA on the Rum and LOW PRICES of tic last Thirty Year*. By Thotnas Tooke, Esq. F.K.S. ,o. I 5• The PENCIPLF,S of PtiLITICAL ECONOMY CON SIDERED. 'fill n View to their Practical Application. By the Rev. V. R. Malthus, I.R.S. Bro. 18s. V. The MEASURE of VALUE stated and illustrated, with an an Application of it to the alterations in the Value of the English Currency since 1791. By the Rev. T. R. Ala!thus, F.R.S. thw. 3e. 6d. VI. OBSERVATIONS on the EFFECTS produced by the EX PENDITURE of GOVERNMENT during the RESTRIC TIONS of CASH PAYMENTS. By William Blake, Esq. F. R.S. 8.0. 3.. 6d. VII. On the PRINCIPLES of POLITICAL ECON'OSI Y and TAXATION. By the lase David Ricardo, M.P. Bvo. 12.. VIII. PLAN for the ESTABLIiiIMENT of a NATIONAL BANK. By ihe mune Author. &to. Is. PROPOSALS for an ECONOMICAL and SECURE CUR RENCY, with OBSERVATIONS on the PROFITS of the BANK of ENGLAND, as they regard the Public anti the Pro prietors of Bank Stock. By the same Author. Bvu. 4s. Gd. X. The HIGH PRICE of BULLION & Proof of the Depreciation of Bank Notes. By the same Author. Bvo, XI. REPLY to Mr. BOSANQIIET'S PRACTICAL OBSER VATIONS on the REPORT of the BULLION CO:11.111.T -TILL . By the saute Author. Bro. 43. XI I. An ESSAY on the INFLIfOiCE of the LOW PRICES of CORN on the PROFITS of the STOCK. By the same Author. Svo. 38. XIII. On PROTECTION to AGRICULTURE. By the acne Author. Bro. 3s. XI V. On the APPLICATION of the SINKING FUND towards any LOA Nti raked for the Public Service. By Pascoe Grentill, ➢I.P. Bro. 21. 6d. XV. The INFLUENCE of INTEREST and PREJUDICE upon PROCEEDINGS in PARLIAMENT stated and illus trated by what has been done in Matters relative to Education-- Religion—the Poor—the Corn Laws—Joint Stock Companies—the Bank of England and Banking Companies—and Taxes. By Alexander Mundell, Esq. Bvo. In 4 few days, /No. FREE TRADE; or, an Inquiry into the Expediency of the present Corn Laws, the relations of our Foreign and Colonial Trade, the advantages of our Navigation System, the propriety of preventing Combinations among Workmen, and the Circumstances which occasion a derangement of the Currency. Comprising a general Investigation of the Alterations lately adopted, and still further meditated, in the Commercial Policy of the Country. By Alex. 111• Donnell, Esq.. PARLIAMENTARY INTELLIGENCE. HOUSE OF LORDS, }RTDAY, fts.lo. MR. COWPER. Lord GIFFORD said graciously pleased to confirm the grant of a pension of two thousand pounds per an. nut to Henry Cowper, Esq. late Clerk-Assistant to Parliament, and immediate measures should be taken to secure the same to him. lIR. COURTENAY. The Reading Clerk read a patent, appointing William Courte nay, Esq. the successor to Mr. Cowper. Mr. Courtenay was then introduced, and alter taking his seat was congratulated by Lords Shit tesbury and Lauderdale upon his appointment. SLAVERY. The Earl of SllAFTESBirißlpiesented a petition from the Lord Mayor, Aldermen, and Common Council of the City of Lon don, against the continuance of slur .4wery. GLOVE AND SILK TRADE. The Earl of CARNA RYON presented a petition from certain Inhabitants of the town of Yeovil, in Somersetshire, against the Importation of Foreign Gloves and Silks. CURRENCY. The Earl of LAUDERDALE moved for certain papers con nected with the bankruptcies, and the issues of Bank-notes ' and his Lordship wished to know whether the late n o tic e i ssue d by the Chancellor of the Exchequer and the First Lord of the Treasury, to prevent the further issue of stamps for small notes, was extended to Scotland. _ _ Lord BEXLEY' said the notice was not intended to be extended to Dublin or Edinburgh, but should be confined to English cir. cula ion. Tbc House adjourned to Monday. HOUSE OF COMMONS, Amer, FEB. 10. LIVERPOOL AND MANCHESTER RAILWAY. General OASCOYNE moved the second reading of this Bill. ABOLITION OF NEORO SLAVERY. Mr. Sheriff Crowder presented the petition of the City of London, praying for the abolition of slavery . in the Colonies. Mr. Alderman WOOD, in moving the reading of this petition, expressed his entire coneurt-enee in the sentiments of the petitioners. He was ashamed to find that that House had been so remiss in pressing this measure because it had met with resivance from an other rafter. If com pe nsation or indemnity were sought for by the owners of West India property, he was sure that the petitioners were willing to subscribe, provided they might rescue from thraldom $OO,OOO fellow creatures. He hoped therefore that no time would be lost this Session to extinguish a system which was corftrary to the spirit of British law, and an injury to the national character._ Ordered to be {Mined. Mr. OKENFLIA. presented a petition from the borough of Penrityn to the same effect. SILK MANUFACTURERS. M►. Alderman WOOD presented apetition. signed by the nrti. kers and workmen in the employ of Messrs. Cooper and Co., silk manufacturers, Coggleshall, Essex, against the introduction of Frenelisilks. Itlr. PEA RSE premed the petition of some silk throwsters in the town of I) , :vizes to the same effect. Sir T. LETHBRIDOE prevented a petition from the glove ma. ruticturers of Yeovil, Somersetshire, against the introduction of French gloves. DESERTION OF SEAMEN. Sir H. PARNELL presented a petition from the merchants and shipbuilders of the city of London, praying that the Legislature would take measures to prevent the desertion of seamen. LAW OF DEBTOR ANL) CREDITOR. Mr. BRIGHT moved for leave to bring in a Hill to facilitate arrangements between debtor and creditor, by means of :1113t deeds. —Leave given. NATIONAL DEBT. Mr. MAIIERLY moved for Aecnunp of Annuities. Exchequer Bills, Atc. ; showing the total amount of unredeemed debt, with the interne from the 111th January, 1819, to the 4th January, 1826.-- Ordered. _ Mr. DIMWIT moved for a Return of the Amount of Exchequer Btils issued since 1793, under a Commission for the Relief of Cont. mercial Distress, with the number of persons who applied for relief, and the amount of loss incurred. COMMITTEE OF SUPPLY. The CHANCELLOR of the EXCHEQUER mid, that pre vioui to entering upt the more important busbies, of the eveniryi he should make a motion for the House to go into a Committee or Supply, for the purpose of granting a sum to his Majesty towards paying off the Exchequer bills outstanding, which would not give rise to any question as to the mode in which those Exchequer hills had been disposed of, and therefore could not lead to any discussion so as to protract the debate on the other subject that formed the order of the day ; nor would any resolution that might now be pained, pledge any gentleman to any approval of the appropriation of those bills, while it would undoubtedly be a great coovenience to the public service. He should therefore move the order of the day for the House to go into a Committee of Supply. Loud FOLKSTONE wished to know, before the question Was put, whether the Committee now moved for was to have submitted to it any propositions relating to the Bank and Promissory Note Acts? The CHANCELLOR of the EXCHEQUER—CertainIy not; that will be a distinct Committee. The !louse then resolved itself into a Committee of Supply. Mr. A. DARIN° (as we uodmstood him) said, that tame doubts were impressed upon his mind, when this Committee was moved for, whether these Exchequer hills had not something . 10 do with _ the subsequent Comm' • wished to know shethrr to- The CHANT Geutieman that . aubeequent trieamans Haim. The CHANCT the stun ut 3,000,, the Exchequer years 1826, . rem . aioing unpaid and unprorided for: Also that the sum of 271,650/. should be granted for discharging certain Exchequer Bills issued by his Majesty for carrying on the public works at the fisheries and other public work,: And likewise that the sum of 3,500.0(101. in Exchequer Bills be granted to supply the like amount that were granted in the years 18:3, 1824, and 1825, and now outstanding. The Resolutions were severally agreed to, the House resumed, and the Report of the Committee was ordered to oe (nought up on Monday next. BANK CHARTER AND PROMISSORY NOTE ACTS. The C lIA NCEI,LOR of the EXCHEQUER then moved the Order of the Day for the House to resolve keel( into a Commiuott on the Bank Charter and Promissory Notes Acts. Lord FOI.KSTONE wished to ask the Right Hon. Gentleman (the Chancellor of the Exchequer) whether it was intended to gis into the Committee, and then te have the propused measures of his Majesty's Government fully ectered upon ; or whether it was not the Right Rem. Gentleman's intention first to state to the House the reasons which had led him and his colleagues to determine upon the adoption of that course which the Right Hon. Gentleman pur posed to bring forward to-night, in order that the House might know what it was they had to deliberate upon ? This was a ques tion of some importance, and worthy of mature Consideration, be fore the House should go Into a Committee upon it. The CHANCELLOR of the EXCHEQUER replied that it was certainly his intention to consider the question in a Committee. Lord FOLKSTONE made some observations in reply, but to a tone of voice very indistinctly audible in the gallery. We under stood his Lordship to object to the House going into a Committee, and to say that on the first day of the Session the Chancellor of the Exchequer gave notice that he should bring forward some pro. positions upon the subject about to be discussed ; and sonic nights subsequent, in consequence of the notice being very inexplicit, the Right Hon. Gentleman more fully explained his intentions, aid stated that his motion related to the Bank and Promissory Note Acts, which motion remained for this day. On Monday, the Right Hon. Gentleman came down to the House, and moved that those Acts referred to in the Notice should be read ; they were accord ingly read, and it was ordered that the House should go into a Committee upon them this day. The objection he therefore made to the House going into that Committee will not merely technical, but one of some importance; because, by the /louse going into a Committee it would be an admission on their part that they were In possession of facts sufficient to enable them to determine on the propriety of reconsidering these Bank aed Promissory Note Acts. Ile, for one, was far Nom being prepared, and he thought the Rouse was not prepared to go into that Committee. It' the Right lion. Gentleman would introduce a motion to the House, in the course of which he might explain the measures that were contem plated by his Majesty's Government on the subject of those Acts, then his object would be obviated. But If the House went into a Committee before they obtained such information, he thought they world be pledging themselves to the necessity of considering that Acts, without having any thing before them to convince them that the necessity existed. This was one of the result+ that arose from that absurd practice of the House pledging themselves on the first day of Session to some unexplained measure, before they knew what they were doing. Every year the same thing occurred. At the opening of the Session the House were called upon to assent to some such resolution, upon the assurance that by doing so they were not pledging themselves to anything that might be dd. mud) , proposed. When this notice for a Committee was given, it was protested against by several Honourable Gentlemen, and by himself, because he should not be considered as having pledged himself to any doctrine introduced into that notice. This was not a technical nor a frivolous objection, but one deser ring the serious consideration of the House ; because, by going into this Cocn mittee, they so far admitted that there was not only good grounds for doing so, but they were also supposed to sanction what was to be proposed in that Committee. The CIIANCELLOR of the EXCHEQUER did not conceive that, by adopting the course which he had taken, he had been doing anything but what was entirely consistent with the practice of the House in matters of this kind. With regard to the notice which he had given, as soon as he observed the words of it were misunder stood, he explained to the House what it was his intention to do. It was perfectly true that on a subsequent day (and lie did not feel that he was doing anything to be complained of) he moved that the House should on Friday go into a Committee on the Bank Aet, and also the Act relating to the issuing of promissory notes. He apprehended, though he might be wrong in supposing it, that it was not indispensably necessary that the subject should be explained fully to the House previously to going into a Committee ; he did not believe that it was absolutely necessary that such a course should be taken. In appointing the order of the day for a Com mittee, he had not the smallest idea or the least reason to suppose that anybody was prepared to say that they would subsequently pro. pose to atop the measure t but the course which the Noble Lord pro posed would have that effect. It would be impossible for any Hon. .Member, ever hereafter, to have any subject fairly discussed with such an objection in /imi n e. It did not, however, appear to him that the Noble Lord was right in his objection, but that the course he (the Chancellor of the Exchequer) bad followed was not only regular, but the beat that could be pursued on so urgent an occasion. (Hear, hear.) Ile would beg the Noble Lord to recollect that he (the Chancellor of the Exchequer) might upon a question of such importance be called upon to answer any objection that might arise, or explain any misconceptions, or whether any fur., then measures were contemplated, in the course of the debate; but If he were compelled by the forms-of the House to make his statement in the House before going into a. Committee, he wig precluded from answering any questions or giving any explanations that might be required of him: therefore he could not be blamed for the course he watt pursuing. (Hear, hear.) Mr. A. BARING raid that it appeared to him the Awe& then of his Noble Friend (Lord Folkstone), was that the Right Honourable Gentleman (the Chancellor of the Exchequer) wee going into a Committee, in order that he might propose to than sonic measure on a subject which was of greater Importance to the welfare of this country than, perhaps, was ever submitted that House, and that they were called spots to do so without eel sufficient information or grounds for so acting, but go the contrary, upon the most unsatisfactory and insufficient grounds,. If it were the most trifling subject it could not be proceeded in with a greater degree of levity. It was his opinion that the Committee could not fairly enter upon a discussion of the subject without first having the fullest explanation of the objects contemplated by the Right Honourable Gentleman but as he was sensible that the subject was one so urgent and so pressing, he hoped his Noble Friend would withdraw his objection from going into the Committee. If after all it should appear to the Committee that they were not in a state to proceed upon the question for want of fuller information, it would be corn. petent for his Noble Friend to move that the House should re sume, and that the Committee should have leave to sit again. (Hear, hear.) Inadequate as they might be to discuss the subject, vet he thought the case was so pressing, and that It was so cape. client to hear what the Chancellor of the Exchequer had to propose, that he trusted his Noble Friend would accede to the motion for going into a Committee. Lord FOLKSTONE said that the objection he had stated was only this, that the House should be made acquainted with the sub. ject upon which they were to deliberate, before they were called upon to discuss it. Ile would not, however, persist in his opposition to the Committee, and should therefore withdraw his motion. Mr. CA !CRAFT made an observation, which we undenitobd to be, that he should not consider himself at all pledged to anything that might be proposed in the Committee, by acceding to the mo tion of the Chancellor of the Exchequer for the more convenient purpose of bearing what it was his Majesty's Ministers h a d t o pro pose; at the same time protesting against any alterations in those Acts, until he had heard and considered the propositions that were to be curate. The CHANCELLOR of the EXCHEQUER then rose, and spoke to the following effect :—" If, Sir, I did not think that I was acting in the discharge of a great public trust. however unworthily, and however unfortunately I may be called upon in do so, I err. tainly should feel perhaps a degree of reluctance and embarrassment in entering upoa the subject upon which I ant about to propose certain propositions for the adoption of this Committee. lam well aware of the nature of the objections which may he made, either In principle or in ahape, to the measures wl.irh I am about to submit to your consideration. lam well aware, Sir. notwkhatanding the different impreitalon which was produced upon my mind at rho commencement of the Measion ; still I am well aware that these pro. positions will have to encounter considerable opponition, and I am slim fully aware of the n.tture of that opposition by which they will be met. I can even collect what is the natures,'" those feelings by which the public may he induced to press these objections, and, from the observations which have been made by scree ft Honourable Gentlemen in the coarse of the dieetossintis that have already taken place on the subject during the present Session. I am not unpre pared to meet no tonsil opposition to the principles and to the grounds upon which I purpose to rest these propositions which I feel it my duty to make. I shall, however, proceed to the illachsrgo of that duty at least with a good conscience; and I hope I may venture to ask the Committee to extend towards me a fill, a fair, and a patient hearing (Hear, heal: because the subject is such that I fear I cannot compress what I have to say upon it within those limits to which the (louse may wish Gentlemen to confine themselvest upon ordinary occasion*. (Hear, hear.) I must therefore entreat that the patience and indolgenee of the Committee may he afforded me, not that I have the least disposition to deprecate any expression of the feelings and opinions on the part of any Hon. Gemleman who may be inimical to the measures I am about to so the, but because I think that the importance of the subject in a t if the individual whose duty it is to bring it under the consideration of the Committee may not be allowed to presume to bring It on with that reception, it is impossible for him to deal with it in that way which it deserves. But before I proceed to state the views which his Majesty's Government entertain as to the grounda of those measures which the best interests, if not the safety andsalvation.of the country requires most positively to be adopted, liberty to make a few observations upon one pull. which has been most forcibly urged, -not in jass -• out of floors, against the *pure that ham ISO . _ widch k have been mote prudent on our parts, and more con. .n usage, if, in the earlier part of the Session, we had al abstained from expressing any opinion on the subject. and thereby have avoided that strong excitement which exists in the country. I ahall request those persons who make that objection to consider for a moment the situation in which we should have been at this moment placed, not only as regarded ourselves as his Ma jesty's Ministers, but, what is of infinitely more importance, as would have affected the country at large, had we followed that course. But although we might have beet) silent, and might have abstained from making any allusion whatever in the Speech from the Throne either to the distresses of the country or to those causes to which we attributed those distres , m, and to the measures which, as it seemed to tta, were the proper remedy for them; yet if we had not taken the course which we ditl, Root the fullest conviction of its propriety, I should have been glad to know where would have been the silence in the other parts of this House? Is it possible to Co meive that ypon a subject so deeply affecting the feelings and interests, and pressing upon the consideration of all classes of the community, we could have been suffered to have passed on In the usual course, which on ordinary occasions is pur sued, without being immediately called upon to state distinctly to the House whether we meant to do any thing, and if any thing what that something was ? I say it would have been the first ob. servation from all sides of the House within an hour alter his Ma jetty's speech had been delivered, that by our silence as to the' great and all-important subject of the distresses of the country, we had blinked the question. had degraded ourselves, had lowered his Majesty's Government in the eyes of the people, by suffering ruin to spread among them without any exertions on our parts to • render them the least assistance, or to effect the least remedy. Good Gnd ! Sir, what answer could have been made to this? Had we declared that we had no views nor intentions, had we nqt declared that we had views aml intentions, we should have done nothing to diminish the alarm which prevailed. Mad we neglected to declare ours Ives, we should have aggravated the state of feverish agitation which already existed, and have produced much greater evils than any which could arise from the discussion of the question. In short, considering the then existing cinumatances, it was alt. aolutely impossible for his Majesty's Miuisters to have pursued any other course than that which they have taken. I have said, thus much, with an intention to clear us front any blame which may be cast on us for a premature or unnecessary agitation of the question, and I titink I have proved that such a charge would be Altogether unfounded. Now, Sir, the House will be enabled to come to the consideration, fiat, whether any thine, of any descrip don, ought to be done under the present circumstances; and, , , secondly, whether the thing we propose is the fit thing to he done. Before coming to this consideration, however, it will be Oft for us to satisfy our minds as to the cause of the evil. (Hear.) And when we apply a remedy, wnmust take care not to delude ourselves, and delude the country into a belief, that we can by legislating apply any complete and effectual remedy to that which in in fact beyond our power. It is an utter delusion to think that any legislative enactments can prevent fluctuations. What legislative measure ran be applied to the fluctuations of prices, of wade s sod of confidence ? Theme fluctuations are consequences of principles wbich operate more or less upon all societies, but which necessarily operate with peculiar force in a society constituted jike ours, teem ing as it is with activity and enterprise. In short, periodical flue tuations, Sir, cart never be prevented by legislative enactments. I understand how this argument may be turned against myself. It may be said, if the origin of those evils is beyond the control of Parliament, is it not better to leave things in their present state than to legislate upon what may be improper assumptions. Cer tainly, in all countries where commerce and civilization have made progress, whatever may be the nature of the currency, whether it be purely metallic, or partly metallic and partly paper, convertible into coin, these species of fluctuations exist. Suppose a succession of unfavourable seasons prevailed, or suppose the supplies ordi narily derivable from the produce of the soil of other countries en tirely fail, or are diminished by national laws, or any other impedi. ments--suppose this failure or diminution to continue for a series of years, a thing quite within the reach of probability, and the con sequence necestowily is, that those who grow the produce of the soil derive a greater profit from that pursuit. This tends to i. the quantities of capital applied to the cultivation of the soil. old this again tends to augment the price. The increase of the value of produce grown upon the superior land' regulates the price of the inferior lands, and tends to place those in the hands of persons who are engaged in the prosecution of agricultural enterprise, and who thereupon extend their speculations. Agricultural capitalists ob taining a great return for their money, and living much at their ease by the successful application of capital, has the effect of ex tending speculation, not only in that particular branch, but also in all other branches of business. Thus arises the natural tendency to spectnntion, and to over-speculation. (Cheers.) But if it hap pen in any year that a bad season occurs, or that any unexpected revolution takes place in the price of agricultural produce, It is seen how suddenly the price of that produce becomes depressed, and what difficulty is found in obtaining any profit on the capital applied to the cultivation of tine soil. This prevents persons engaged in agricultural speculations from keeping their engagements, which necessarily affects those who depended on them for the fulfilment of those engagements, and whose confi dence was founded on their apparent prosperity before the depres sion. Those are fluctuations which may occur in any country, but of such fluctuations in this country we have had more than an ordinary share. But if such fluctuations happen in a country where the currency is metallic, it is still more likely to happen in a country where there is a metallic mod paper currency convertible into coin. Where there is a circulation of this kind, there is al ways a facility to accelerate the rise et[ prices and to precipitate their downfall. A eountry so situated is at all times open to the chance of this species of fluctuation. If that evil, for such it must be considered on account of the distress which it produces, and the serious results that arise from it—if that evil, I repeat, Sir, is eon. sequential from the constitution of our society, and the ruined nature of the currency, it appears to me likely to be infinitely ag gravated, though not caused—l make that distinction—by the state of the circulation which exists in this country. It appears that whenever the circulation is not confined to the larger denomination of notes, whenever difficulties arise from an over-issue or from any other cause, the existence of this species of small notes actually endangers the security of those very bodies from whom that circulation issues, and not only of those but of other bodies. It is true we are told that the bankers did not con sider the circulation of small notes was of any importance to them. One Honourable Member said that the bankers considered them a nuisance, and would be glad to get rid of them. He dwelt very ferclbly indeed on the difficulty of getting rid of them, but he dis tinctly expressed his conviction that they were an evil, and that there was not the smallest profit derivalde from such a species of circulation. He thoteht no country bankers could curry on busi ness without them. From the necessary effect of competition, he said they must follow the example of others, and issue small notes if they intended to issue paper at all. But to extend the argument beyond this point, there are others to which it is likely to reach. This issue of small notes is what drisea gold out of the country, and renders it so dif fi cult for the Bank of England and other banks to pay their Wines in gold, which they were bound to do by the very terms of their paper issues. (in the discussion of the regulation of 1819, which was one of the most important measures ever intro duced to the attention of this House, and a measure which was universally approved of through the country as well as in this House, it was asked how many years longer we were to remain dependent on a paper currency, or how we could meet Cumin dangers if we were not ready to alter that currency ? The force of those questions was indisputable ; but the issue of one pound notes is calculated to counteract the winciple then contended for. This was no new theory ; it was not an idea which had just sprung up; it should not be considered an innovation, for the establishment of a metallic currency is running more than a restoration to that state in which this country had flourished for ages. Let me not be told that this is a new principle, or that we area new set of political economists, who want to °veiny% every thing and pull down a house about our own cars. I mount to God, Sir, such a change is more applicable to those who oppose us, for they forget that the system we desire is nothing more than that under which we had so long lived , that the present system is nothi ng n but • departure from the sound principle, a d e p arture too wh i ch a w l as wa n y e s y t e li r sl j ik u e‘ sti bec tied au e o xce n p o t oannethkows where the ure , or more pro _ plea of necessity, a p l ea w hi c h I perly, the abuse of it may end. The removal of small notes from circulation would be the best security front the country bankers. There it no measure between driving all their notes out of drank. timi and getting reasonable activity for their !set es. Good solid hoifiestan have no objection to such a security. No men can sty that it will be prejudicial to the currency to get 'aunty for these issues. And it is well to consider who they are that first occasion as well as feel the difficulties. where difficulties arise. They sow the very poorest classes of society ; persons living on their !thou, and having nothing but what is earned by their oats skill and in. dustry. Those perselns with great difficulty contrive to seem, three or four one pound notes. and if deprived of those what becomes them ? Their situation is really heart-breaking. having lost that little something which they retied upon. and had laid up and clung to as a relief to their distress. As long no the lower classes are left in possession of nothing but this species of paper, when any circumstances arise in the country front over-issue Of from any other estate, to produce a panic, they are sure to be the firm who feel tnat panic. (Hew, hear.) And that who begins the run, which is always contagious! Why, this poor man. He sees his neighbour going to get a sovereign for his one-pound note, and good Ood ! whet should prevent him from going ? Then the puss P4.7411Jf of 51, and 101. notes, though he may sot have began the nen. say* to himself, " There may he something roue., " and it h possible for hint to resin following the example vet him, especially SA the run upon the bank placed his property in jeopardy. In abort, the absence of the one-pound notes a the hat possible seems fit) , !!) the bankers and to the country. They may lose the peed( gained on this description of hone. hut 1 don't thick that fur MS mere take of the pmfit they would wish to continue such &erases. I am confident it is a consideration of little coneerigience to the solid, seethe, establiehmenta and there are many of them, with abundant means to pay all their engagements, and offering as good security to their customers as it is possible for any met to eta. But thearestablishments, secure as they are, are likely to be eased Yet by their own issue!, but by the issues of houses of a shlftweet description. There are an immense number of establishments, the namea of which are hardly known. they are so insignificant. and • yet they issue considerable quantities of this kind of paper. These books Issue tom great extent. end when their notes are remised they have neither gold.eser theorem of other banks to pay eat& The security of the solid and reeptesobie honk . - 'isgetenno vegetal the remedy lam proposing. Again I ask, am I proposing any. thing news anything which Parliament and the country Oar, sac heard of before ? Quite the contrary. Laws were in force prohibit► ing the issue of small notes. If I go back 50 or lig years three was no law prohibiting such an lame. The lint law was in 1775„ not long after the reformation of the currency. which took piece, as well as I recollect, in 1773. A law was passed in 1776, respecting the issue of nets\ under twenty shillings. In 1777, Parliament deemed notes under 51. a great evil, and not at all necessary to the circulation, or beneficial to trade. A temperate Act was then passed for the prohibition of this species of circulation: Cut Act was continued from year to year until 1787, when it was made per. petual. This is the model set us by those from whose practice some deprecate any departure, and whom others conceive ahuald no( be followed in anything. The circulation of small notes in those times was not considered advantageous hut prejudicial. What the Bank Restriction Act petted in 1797, unless the prohibitory lams bad been suspended, It would hate completely restricted the Sigma of the Bank. In 1819, when the subject was discussed. Parliament end the whole country deemed it of essential Import. ante that cash payments should be returned. The subject was then referred to a committee, consisting of persons differing widely on general politics and even upon she practical application of the prin. ciples which govern the currency, butt there was no differeoce IS to the policy then recommended. And where its the report of that committee do we find the expression of an opinion that Ilia citesla. tion of small notes was desirable ? Do that committee recommeost that the suspension of the law prohibiting the issue of small notes should be made perpetual ? Quite the opposite, tor that committee appeared to deem it of great importance that there should be a cas eation of the issue of small mites in two years after the resumption of cash payments, that is in the year 1825. So that Parliament never dreamt of the possibility of allowing the issue of small notes to continue for a series of years after the Bank was compelled to pay in cash. I ever did regret anti shall always regret the step taken by whirls the circulation of small notes was extended for a greatee length of time. I did not fill the situation which I have now the honour to do, at that time, but I always understood that in the oninmunicatione which then took place with the bankers, for the purpose of impressing upon them the necestky of making a depts. sit, although they objected to making a deposit they stated that the issue of if. and 21. notes was a matter of indifference. They ' used the same language that was used by the Hon. Member toe Staffordshire, that they did not with to issue small notes. How ever, the suspension of the Prohibitory Act was continued till 1833; so that what I am now proposing is not a new principle, but a pro onset to bring into earlier operation a system of law enacted so far back as 1819. Will any one then persevere in arguing that the co ' culation of. small notes is material to the well-being of the coun try ? I understand there ate permits so prepared to argue, end that one Hon. Member mated that no land owner could get his rent paid if small notes were prohibited. The Hon. Gent. must go farther than the innovators; he must come down to the House and propose not to let the suspension law expire, but to revive it. As a land owner I can arum that lion. Gent. that he and I both find It more difficult to get rests, and would suffer greater evils , from the firm of the system with which he seems so enamoured. But though only a few will be disposed to carry the argument to so great a length as the Hon. Oast. (Mr. One don) it may be said that the prohibition was not indispensably necessary, and that no alteration should be made in the law on account of the difficulty of proceeding. It may be said that the proposed measure would cramp the currency, lowa prices, I produce embarrassments, and such fatal consequences; but those apprehensions appear to me quite visionary. l'he proceedings in 1819 afford some experience on these points. It beanie at that time indispensably necessary for the Bank r-f England to take legal measures to meet the law, and pay their notes on de mend. The only mode of efleesing this was to contract their issues, to bring the exchange', right, and to lower the price of gold. Betides, they were to keep in the country the supplies which they procured. Since 1819 there was coined at the :Mint no leas a stun in sovereigus than 25,236,000/. 1 will state to the flouse in what proportions the importation took place, by which so large a supple of gold was procured. A very large impartation took place in the three years succeeding the passing of the Act. In 1820 the gold imported amounted only to 9-19.1M101. In 1821 the importation was 9,622,0001., and in the year 11122 it amounted to 5,336,0061. It the three years succeeding 1819 the Bank was employed in importing gold, and also in getting down the exchange. The price of gold was reduced, and 13 millions were coined. Ido not say that there was no difficulty (luring the period when the Bank was effecting this. The years 1819, 1820. and 1821, were certainly years of dis tress, but iii the year 1822 an alteration had taken place which every one must recollect. The state of things was not worse because of the great efforts which the Bank of England made ; on the contrary, things were much mended. The paper circulation was greatly diminished. In 1820 the average circulation was 23,875,00 W.; in 1821 21,757.00111.; and in 11k22, when whatever degree of pressure remained was in a flinch less degree than in the preceding years, the average circulation was 18 millions. It is true the paper diminished as the gold was imported, but after the sub stitution of gold prices did not go down. There was nothing of terror or dismay; in fact, every thing was in a state of progressive advancement, and this is a clear proof' to my mind that the danger is not so formidable from substituting gold for one and two pound notes ; I think experience proves that gold may be eubstauted without fear of occas ion i ng an y ser i ous pr es sure. It would be well to consider what is the actual circulation of gold at this moment. for we must not suppose we are to proceed on the same principles, nor expect the same effects, as in 1819. when gold was imported an such large quantities, and when cash payments were so long sus pended. Ido not estimate the present cireulatiog at less than 17 millions, There was coined at the :Mint since 1819, 25,238.0001. There was exported during the same period, of British gold coin, 7 266,0001, ; of that a very large proportion probably returned• There are no returns kept at the Custom-house, so that it is impos aible for me to state accurately, but a very large proportims cer tainly found its way back ; since last year, probably one million found its way back. not in ingots, but in coin of the realm. Ttte total loss then is about six millions, which leaves 19 millions in circulation. Of this perhaps some part is gone into the pockets of individuals, or for the paytnent of 'speculations in a certain trade. which I have felt a great desire to put dawn, and in which, though I have been honourably supported in this house, I must confess I have met with sotne severe rebuffs. 1 need scarcely say 1 allude to' the smuggling trade. There are 17 millions then in circulation, and the exchange is now favourable, and is likely to continue so. The truth is, therefore, that it is profitable to ihmort gold into this country at present, sod there appears to be a larger baste upon which to begin the system in contemplation. What the House has to look to is the amount of paper which has been in circulation during the last three years, that being the time from which I think it necessary to take the average, and from the average upon thus yeses, to form an estimate of the quantity of gold which will be ee eatery to fill the vacuum which the withdrawal of small notes must of course occasion in the circulation of the country. The House must be aware of the difficulty of ascertaining the precise amount of country bank paper in circulation, but still an approxi. mate guess might be made near enough to enable it to term a judgment upon the subject. The number of notes staniptd in each year affords a tolerable criterion by which to form an esti mate. lam now speaking, not of the general paper circulation of the country, hut of the smaller description of it, comprising one and two potted notes issued by country bankers. These issues amounted in the year ending January the 6th, 18•21, to 1.M13.0U0‘. In the year ending the Stli of January, 11e22, they increased to the amount of 2,214,0001. that being the year in which the Bank of k:nglartil began to withdraw their small notes from circulation. la the near ending the sth of January, 1823, the issues amounted to 1,1168.0001. ; and in January, 1814. to ).969.00411. In the year ending January 5, 1625, they increased again to 2,501.0001. I*- thee if the amount of small notes stamped during the last Yale were to be taken as the estimate of the circulation of small notes during the same period, it would be much overrated. The better way would be, to take the average of the total A rllo4ll . lt sta p in os r o t t l during the last three yews, which was somewhere about 2.3lt_t . . and three times that average would give the quantity ()renal! notes, i t t h cwrilitibideranOecale.nuf necessary i t c o b ,sluhp supply watt Al though I have stated a large sum with respect to the guan -1 believe. that tidy of notes in circulation in the year 1825. Do each portion is !now in acwal circulation (hair, hear, hear), because In the course of last July a question anise in that House u a res cirta l s z o a n bo a llt gtoordropoz. t Committee' relating to the Bank Act, arid he *label and sahmti°7l•ol ter that were the ease ? I will take the ; ;CELLOR of the EXC H EQUIIR assured the Hon. cuter objection at ague pato Mali noshing i!ss in* Howe, but by F , mares that were about hr .-4,ltees der' lan, by his lasetme ; I me ;CIIT,I,OR of the EXCHEQUER then moved tbet that It would ha 00,01161. should be grouted to his Mojesty, to pay of Ihitwlit with "mil • Billsfoc the years 1824 and 1026, now remaining to!tlerabstoirt ~.ai/1111 i. Price 7d. ra. ... 1 /