The British Press; or, Morning Literary Advertiser. — London, England, 1819-05-07 00:00:00

MOUSE Or COMMONS, THURSDAY, MAIV The Members to *erre on the Committees for tryinf Ilse rorrits of the Taunton and Coney Election Petitions, were tiles day batlotrt d for—the Gallery wail not opened, in cons s. (ponce, until a quarter before six o'clock. TAUNTON COM miTTEE. Mr try swarm' at the Hat with the reduced list of I.lnliers to seise 00 this Committee, vii Hon. A. Ellis, WS. I.rowntire, Esq. \V. Miles, Esq. FA* Wrhh, Esq. Sir G Cockburn. II Hamilton, Esq. Faixtioth, Esq. J. Alcminder, Esq. It,ght HMI %V. Bagwell, Him. W. Cosi. I: Proilleroo, Esq. W. Holmes, EA. S S a n Ut, Esq lion. IL G. Benutit. Edmund In, too, F.sq. }'Ott EY COMMITTEE. Mr. UT WIN after oldwerril ut the rrslurril lid of Mem bers to serve on the above Committee, sir Earl of Berlive, B. Gaskill, Esq. Right Hon. C. Grant, I.nraas Concaonon, Esq. t. Smith, P.aq. E S Cossprr, L-q. I'. W. Grant, Esq. J lonia, Esq. lion K. Cursan, lion. N. Frllowrs, T. W. Drake, Esq. W C Ilsornby. Esq. J. S. Copley, Esq. U. W. Talbot. Esq. LONDON CLERGY HILL A Pi t ition was premiled limo the rrich o f St I.awretwr. Vomitory, agaiust the London Cliagy lbs t dole. PARISH fI.ERICS' RILL. Mr. T. Weesos presented • Petition from the parish of Hackney, against the Parish clerks' Bill —Referred to Ibe Vo•nmittec on the said Bill GLASGOW WATER WORKS. Mr. FI%I.AN presented a Priiti.di from certain Inhabitants r.f G'ssgow. in favour of the Glasgow Water.Works.—Re.. acd to a Committee. DEE A U ITER. Mr. 1.031 E WELLZKIM was ordered to be discharged out of the custody of the SeljeJett al Arius, on palmed of his fees. POOR'S SETTLCII ENT 811.1.. Mr. CUTTS presented a reit' from the fultabitaitts of literslry, in the calmly of Gloucester, against the YAWS Sottleistent Bill. Mr. Rtutior.o presented • Petition of the like nature from Yarmouth. Mr. II Suivirß presented* similar Petition from the In lialn•mts of Christ Chinch, SUM,' Mr. It. B COOrnt presented a Petition to the 1131111 t I et, from the GilArlli•Wl of the Poor of the City of Gloucester. Lord G. SOMFActT pocseated a Million of the like de. implants front It lainn.gaitAire. Severalt) Ind on the WA, Sir F Ruanstr guire make that hr Koul t, lo morrow, pormot a i',ll.tioe from or indiviJud, conort, g, al; re of improiwr liestmcot from the Lath at the 2t.huiralt! SCOTCIi Colonel STEWART presented a Petition Sons the Burgh el New Galloway, pt a) mg that the House would cant adopt Cue vogertions of tissue prisons who called for an alter- Mu iu tlw constitution of thi Scottish Burghs, or who de manded a Reform in Parliament. It appeared to him, that the individuals also called for the burgh Worm had some s•tlses object is view, or this a mild have paid more attention In the Bill introduesd by time Lois) Advocate of Scutlawd. Mr. J. P. GRAVE denied that the prrsous also petitioned for a reform in the municipal regulations of the Scotch rarglis had any other object in contemplatiosi—and, lie be lt. veil, is general, they had must seditiously atteuiled to the iotroduced by the Lord Advocate. Ile would shortly present a Petition from l'aliolturgli, a hid. stewed that great sittention had hero paid to the Bill in that city—and the Petitioners, having considered it, declared that so far from ameliorating their situation, it made bad worse—and de prived them tern of the hope of redress. After a few woad., from Colonel STEWART, the Petition was reed end ordered to be minted. General FERGUSON pre tented a Petition from list Inha bitants of the Burgh of Danfermlioe, praying fur a reform in the burgh system of Scotland. It had been left for sigua tints but a frig hours, and was signed, is that time, by 1.54 persons. Three was part, however, of the Petition, wit cis he feared the House would not receive. It was an on a statement said to have been made by a Itemised Sleisiber (the Lord Advocate of Scotland), in the course of a former debate on this subject. The Peti. tunnels complained that the Learned Member haul spoken of those who wished fur burgh 1441111 in SCUilaild, as be log by no means a respectable class of the community. 'lbis assertion they totally denied—and expressed their sur mise that the Li artie.l Member could have made it. The House would decide whether this circumstance did or slid Lot render the Petition ineligible to be presented. The SPEAKER said, the Petitioners could have no regular Isnowledge of any oilseeds made in that House; a n d their alluding to, and commenting on, an expressiou said to have been used these, vitiated the Petition. laud CASTLVREAGII conceived that the mention of any speech made in that House, in a Petition, was irregular. He, at Ilse same time, defended the Lord Advocate of Scot laud Cum the imputation of having spoken disrespectfully of Roy class of people in Scotland. Nu suds circumstance was in his recollection. Sir J. MACKINTOSH wished to stale, before this Petition was disposed of, that he was called DU to present a very im post:sot Petition—a Petition of the same natsire—signed by 100 or SOO inhabitants of Edinburgh. The Petitioners had also alluded to reliant latiguage said to Isaac been made use of in that House, *loch they conceived to be deroga. tory to their character. A knowledge of the proceeding., of the House went abroad throughout list country—and, hs st was important that the sidsjoet should have the free-right sf petitioning, he holed the paragraph to ahsrh he refined would nut operate agsiu•l the Petition being received. The rror was, at t, lit an error of judgment. Of course, if the Speaker thought vtlieratse, he would cheerfully bow to his ai ectswit. The SPEAKER held that the Petition, ander the eircum- Maori's stated, would he inadmissible. Sir G. WARREN I: ER said, hr had listened very attentively to allot hid fellers (sons the Learned Lord, who had been salmis(' 10, and he did out recollect that any upward** had fallen fauns him that sarranteil the ibis miaow made by she Petitions-1 - A. The Petiti o n was then withdrawn. Mr. J. P GRANT said, be one to present a Petition from the Cropr.iration of Tailors of 41i, which I.e wonld he time fortunate than that hint bad just beret dis posed of. Its prayer was, fur a reform in the guwesisinetit of th e Scottish Ile worth, nut have presented it, in the absence of the Lear ned Lord, if he had not previoualy apprised him of his 1111C111.011 10 110 so.. .110. Pet..lOl.llTS. iR the outset, denied that, in petitioning the LegisWirer, Ilwy scree called on In make all 11V10.111 of the extent of their property, their peridirr rank iii society, or the p r e c ise oat iire of their politil,ll 01.011.0110—antlihry likewise I.ll.lllelllomilt was 141)011f11 to have been said by a Member of that House; lint they did not state where—toil this, he thought, distinguished their Petition from that which hail recently been before them. They complained that a Learned Member of tint Ilmise—and, in another place, a Scotch Member of dist House, had wish a view to their pejo dice, denominated those who called fora reform of the Scottish Burghs, " a body of radical reformers." He hoped their Petition would lie received—but, if it were deemed iirfurmal, nn recount of the allusion he hail men. tinted, it would be well for Gentlemen, when they were speaking warmly on any subject, to recollect that the pro ceedinga of the House, in some way or other, got abroad, and to reflect a little on the effect their sentiment• were likely to produce on the minds of those individuals wh• were Ike subject of observation. The Learned Gentleman the.. moved "'That the Petition be brought up." The STEAK'S" said, if his impression of that part of the Petition to which the Learned Gentleman had called their attention, were correct, it curd.' roil be rec. iced. Counting the two points together, in which a Learned Member and a Scotch Member were spokes. of, it was clear that the Peti tioners referred to a proceeding in that House. lord CASTLEREAGH concurred in Ibis opinion. He con ceived the Learned Member himself could scarcely enter tain a doubt on the subject The LORD ADVOCATE of SCO7I.AND, who bad just co. tiered the House, denied that he hail used the expressions, that had been ireptiterl to him. He had stated, that the Poiti 111 l era for a reform in the Scotch Burghs were not el titled, on account of their rank, character, or politely, to a greater degree of respect than those persons who w lin were anxious to prewar the existing system. Ile, at the time alluded to, said, and he repeated it 110 W, that the r ffeel of granting the request 'nark by those P. ti 'inners would be, to evertor,. the constitestion of the Scott Is florghs—ln alter it fortilarnesitally—to change altogether the system which •311 recognised •t ilw period of the Union with Semiarid Sir J NIACKINTOEfI briefly staled his riPnion, that the request of the Petitioners was a fair and hop at one. No unprejildiced man could deny that the system acted upon in riw Scotch Burghs called loudly for reform. Sir le Visits dissented entirely from an observation which hail been made by the Learned Gentleman who intro duced this Petition. He stated, that it behoved Members of Parliament, when delivering their opinions, to be cau tious of 11w effect which their remarks might have on the minds of individuals out of 'lowa. If every Member were to be controlled, in using what he deemed a fair expression, on account of the way in which it might be received abroad, there was nt mice an roil to all freedom of debate. Mr. J P.GRANT said a few words in reply, and then with drew the Petition. REPORT .1 Of the SECRET COMMITTEE on the AFFAIRS OF THE BANK. Mr. PEEL appeared at the bar with the Report of the Secret Committee appointed to inquire into the Affairs of the Bank of England. The Report having been brought up—on the question that it be now read— Mr. ELLIcE said, it would save the time of the House, us the Report was very volumt•rous, if the Right Hon. Gentleman would point out the ma terial patiwtges only, which might he read for the information of the House, and would answer every purpose. As the Report appeared to be extremely long, it would not, he conceived, be r•ouveuieut to go through it ult.—(llear, hear, niised wit/► cries of " Read !") Mr. PEEL said, that there were certainly some parts of the Report which were not necessary to be tend. It begins with a notice of the several laws priced since 1797, when the restriction was first impri.elf, on the subject of the affairs it the Bank of England. It was fur the /louse to consider, whether or not the whole of the Report should be read. If they pleased, the part lie bad just ad serted to might be omitted.—((Ties of• ' Read! read !")—lt might he desirable to state, that the first part cattle Report gave a general detail of the transaction* between the Government and the Batik, and of the nature of the transacti be tween those two bodies. Tots was extremely im i.ortunt— because the latter part of the Report re 'emit to the debt due to the. Bank, and stated an opinion that steps should be taken for its repay. nient as soon as possible. There were two other important points comprised in the Report : first, the opinion of the Committee as to the expediency ' of resuming cash payments uu the sth uf• July next—and secondly, their opinion with respect to the time when that description of payment might be resumed with safety. If it were the wish of the House that a part only should be read, the latter portion of the. Report was certainly the most intr. resting. Mr. J. P. GRANT said, it appeared to him that the history of the connexion between the Govern ment and the Bank was very material to a just un derstandiog of the subject, and he therefore hoped that part of the Report would not be omitted.— (" Read ! read I") Mr. MACERLY and Mr. IlusxissoN said each a few words—but the impatience of the House to hear the Report read was so strongly manifested, as to render them inaudible in the gallery. The Clerk then proceeded to read the material part of the Report (the prefatory matter being omitted), which was in substriiee as follows: s. Your Committee called for an account of the total outstanding demands on the Bank of Eng land, and of the funds iii the possession of the Bank to satisfy those demands—and they found, on in specting the documents, that the sum which the Batik was liable to lie called on to pay, was— (hi the 51b of January last To inert this the Bank• hail, in CNA, went securities, &e. Leaving a surplus of Etc!osier of a Treasury debt of 14,000,000/. pay. able oil the expiration of the Charter. This deco. meat affords clear and conclo.ive proof of the flourishing state of the affairs of the flank, and fully justifies the confidence which has beets re• posed in them by the public. The next point which your Committee itivestiotsd, respects Ilse amount of cash and bullion in she possession of the flank, at the present, and various other periods, suer 1797. Gre:..t tluctuattoi,s, on this point, were °turnable during the war—but, towaido the close of it, there was a consid e sahle i ncrease in th e amount of cash and bullion in the possession is she Bank. particularly from July, 1815, to Oc tober, 1117. Daring the interval between July, 1816, and January, 1817. the market 'nice of gold was 16s. bd. per oz.—and the furt.ign exchauges at Got period WEILIr.a.. f C1 ., 11:,1fy. The Bank, taking advatitoge of these circumstances, pro cured a great quantity of the precious metals, The Bank then nosed the price of gold to :;1. 184. 61. per 111/11ee. Mr. GOl6llll ll , in his evid• or e, stil t e d, that at the time there was no other purchaser but the Bank in the market—had there been others, they would have been supplied on the same term , . Beilig asked if he thought that the Bonk, by pro per management, might have continued to p u ichase at 3/. 160. 611., lie answered tied lie tlionelit they might, but it Was matter of opinion. In 1817. the Batik possessed a much larger amount of bullion and cash Olen was ever known since its esteblish meta. From concurring circumstances, the stock had been progressively ditnioiatiing since 18111. The diminution chiefly took piece m consequence of the engagement entered into by the Batik, to November, 1816, to pay cash for limes of a certain description issued between the Ist of 10. 1111;1fV, iBl2, and the Ist of Jatitiary, I 816 and a later engagement to pay cash for their itotee of every dertoiticietion issued before the ist of January, 1817. The total quantity of gold coils paid by the Batik, in coneripience -of these en gagements, for nines under 5/. appears, from ac comae before the House, to have been— From the Ist of Jemmy, 1817, to the 1-t of € Jsiiiiary, 1819, in guineas and half-guineas 1,596,526 And in sovereigns " Your Committee have ascertained, that sub sequent to the Ist of January last, there was a fur ther demand for gold, to the amount of 70,1)00/. so that the total sum issued since January, 1817, Las been 6,126.247/. Your Committee keg to state, that no doubt can be entertained that the coin was demanded, not for internal circulation, hut either ta derive a profit from the sale of but him in this f!,111111fy, or from expoltation. Your Committee are borne out in thi- statement, by a reference to the documents before the Muse. It atiprered, that, from the month of .suit, I. to the month of Jul 3, 1817, specie only to the amount of 38.020/. 101. was drawn from the Bank, although the Bank was at that time liable to ray in gold all the one and two-pouorl notes issued prior to Jittuary, 1816. In July, 1817, the foreign exchauges became unfavourable. They continued so eitice that period—and, as a profit was to be derived by the sale of the gold coin, the B ink was called on to pay cash for their notes. Mr. Alexander Bat mg thews to what purpose the g slit thus procured was applied. In France, it appears, there were carried In the mint, in sixteen months, after Jule,. 1817, 125,000,000 of francs in gold, or '25,000,000/. sterling—and in silver only 3,000,000 of francs. or this gold three fourths were supplied from this country, during the preterit year. Your Committee are satisfied that the Bank, in undertaking to pay their notes in cash. under such unfavourable circumstances, act ed from the best motives, thinking that it would enable them to complete their arrangements for a complete resumption of cash payments. It had,un fortunately, a contrary effect. When the last of the three notices given by the Bunk, fur the payment of certain notes, induced tiumeious applications fur cash, gold rose in price from 3/. 185. 61 per ounce, to 4/. Is.—and they hod not that control over their issues which would have enabled them to reduce the paper currency. In the half-year between July 18IG and January 1817, • considerable increase took place in the issue of Bank of England notes. The overage amount, for the hall-year, during the war, was 26,761,9141.—in the half year between July 1816 and January 1817, the amount was 29,210,0351. --having been, in the previous half year, -27,339,7301. On the sth of July, 1817, when the Batik dividends were payable, there were outstanding notes to the amount of 28,800,000/. — amid the amount, in the month of October follow ing, was 28,900,000/. The issue of sovereigns between July and January 1817, was 1,246,4221. So that, had those sovereigns remained in circu lation, there would have been an increase of the circulating medium to that amount. The whole amount of specie, issued up to that time, was 3,678,542/. " Your Committee cannot avoid saying, what. ever the policy, or however laudable the design of the Bank in making those partial issues of cash in payment for their notes, that it was exceedingly inconvenient, at a period when gold rose above the mint price. Under such circumstances, a contrac tion of their issues was the most advisable course— and unless they had such a control as would en able them to effect lust object, it was most inex pedient to undertake an extensive, though partial issue of ruin, which must necessarily subject them to a considerable loss. l'oder this impression, feel ing that partial assure from the Bank would post ponr the removal of the restrictions, without being of ally edvintege to the country, while it must en tad a loss on the Bank. your Committee recom mended, in their first Report, to the House, the immediate enactment of a law to suspend all cash payments by the Rink, till the whole subject was laid before them. 66 The next important point for the consideration of your Committee was, the amount of trine* of the Bank of Englund outstanding on Government eecuritiee—or the amount of debt due by t h e public to the Bank of Englund. The necessity of the payment of a part of tins debt. which was so ear nestly requested, and the weight and importance Of the reasons adduced on that point were so great, that your Committee deem it necessary to detail the origin of the advances or the Bank to the public, which had deprived the Beak or thst con control over their issue of notes, which was essential to the resumptiou of cash payment*. —ln the Appendix, there wits au account of the edvance. on Exchequer Lille to Government, from 1792 to the latest period at *loch it could be made up. The lust item was u emu of 1,820,000/. —but this could nor be cmuCilereri as any portion of the debt due by Grove rut to the Bank. it, arose from motley originally lodged in the Bank, fur the payment of certain public creditor*, which was not claimed, and was afterwards drawn the Bank, Hod applied to the service of the country by the Acts or 1791, 1808, suit 1815. It would be seen by the account. that a great 'WOIIOIII I III Or the advances from the Bank arose lions Exch.-411er bill* tamed, as distiisguishable horn those purchased. By an Act of ‘‘'illoott 111. the Bank were prevented from °peon% accounts wells corporations, nor could they loot motley WI crown 111114, Of 01111411/CC any SOW of muury by eel cel lusts, other than eti the L I, I ercdit of such supplitr as were kii.kl,4l tneirt. The winning rf money level by Wt. Ronk, cwt thin tircnrity, 11 - f , rn 17 77 19 ivyt, wo uld h e fortiori in the Appendix. In 1793 in Act waa passed, prareeting the (lot ct nor atttl Comissoy Of Ilse Bank from any printlowa tls it they were liable to for soakioo iolvaor on 1•: , ;(.11 , tim.r . 1,11; not ar. re pt e d I, F the Lords of the To-amity, :Aid made payable at the Bank. The motor,' uloch Holoreol the 'moan!, of ;hi, Bill lire detailed in the evidence of Mr. IFw.impart, at that Irene it Director of the Bank. Ile staird that it was the ru.tont of the Kink. time out of ntiml, ta pay the amount of throw Exchequer bilk, and lu .et them oft ;I:viin,t the rePiorelser accounts Its winds they beliroged. Throw iolvanees were permitted to too to it large soinuot, lout wit f fritter 111411 150,11(191. 11) , I0ON stigge.tril I het:lolveil to the Direr' orm of Ow 13 iii k in 1793, whether tin. , proceeding WA • WA H viii dirt of OP At•t Of WIIII.IIII snit' Alert—ind, In CMOS'. (1111P11C.., the Act of 179► t.is 1‘..1•4. ' l ' lt:lt A;•t allowed the It ink to make Ili x•lvatttr llf liliv or 100,000/. on Treasury or Exchequer lolls. iv an Act passed 1y alter the lii.t Restrictimi Act. this provision was retained. Boit, its the fid lowing Session, they were showed hi in ske 'Avineri on the duties tin melt, &c. during the continuance of the restriction. They were, however, prohi bited from advancing any flllll Iseyotsd the amount limited in the *eerie' Acts of Parliement—and the Exchequer bills to be purchased by them were not to exceed a limited amoisist. The two species of Exchequer hills e.-ere those issued on actual duties, awl on which the Beek ionic ass ad vence—distisionisheil from liw,e purchased, being P.:xclierier bills taketi by the Beek, when not sold to the public at it premium —premilim or discount not being demanded from the Bank. Au so count in the Appendix shows the million of Esc:it-quer hills issued since 1792 --the amount of edvanees to Government, deducting set fur un paid dividends—soul the i.sti , s t;f Ihshk Holes for each half year, from the year 1414. The advances of the Bank to the Government, in April last, appear to have been 19,43e,0001. The attention of your Committee was dien turned to the expediency of the Ila,:k'a limiting its issues, with is view to a gradual return to cast' payment'', and they received a promise from that body, that it e necessity of steel, a reduction should be perceived by them, they could a:a accoriliogly with respect to that branch of their issues which would admit of re duction, without great public iticameaieuce. The utterition of l'aultainaist was first called to the state of the Rank balances in the Report of the Com mittee of Finance, in 1807, by which it tipplers that they then amounted to 11,000,000 f. From 1807, till 1815. they annually averaged at the same sum. Since 1816 they have been more limited, and have not exceeded 7.000,0001. and they have undergone a further limitation, and au application to public purposes, by the Bill of the present Session, fur rendeting the growing produce of the year applicable to the service of the year.' On • r e v iew o f all the circumstances connected with these balances, it appears to your Committee, that in any measures which may he taken for the re sumption of payments in cash, the state of them should always be kept is view ; and from an examination of all the transactions between the Government and the Bank, it appears to your Committee, that a principal impediment to the re sumption of cash paynieut, by that body is the want experienced by it of at least ten millions of the money advanced by it to Govertiment, and they earnestly recoinintaid the re-payment s.f that suer as early as it can be affected, caasistently with a due regard to the fniancial situation of the country. The next bead of inquiry entered on by your Com mittee, was the expediency of otil•ging the Bank to pity its notes in specie lifter the fish July next, the period now fixed for the saute by law. In pursuing this inquiry, they ware naturally led to ass exaius nation of the slate of the issues in paper from the year 1797 to the present. llfere followed a state ment of the hulf•yearly issurs during the above iu lei-veg. The Bitik Directors stated to your Committee, that if payments ill cash were to be re sumed on the sth July next, they should feel them selves obliged to Inuit cmisitlerably that part of their issues which was within their own control. Much evidence was given before your Committee nit the inconvenietwe and danger likely to arise to the country from a audileti limitetion in the Bank issues. On this part of the subject, they cannot forbear quoting certain parts of the evidence, which will be found mare at large in the Appendix. The Report the,' produced extracts from the testimony of Mr. A. Baring, who had stated, that the only means of 'aerating the way for a restoration of is mold currency was be limiting the issues of paper, utid importing bullion; and that the quantity of bullion necessary could by no meats. be im ported within the period now prescribed by law. Mr. Haldeman stated, that, previous to a return ` to a metal circulation, the issues should be reel dotted three or tour ruilliuus ; that every possible; inconvenience to the public would result from a' sudden reduction in the .-sues, and recommended that the return should be gradual. The testimony , of Mr. Gladstone, a inerchant, and a member of the house, was then referred to. Your Committee. the Report proceeded to say, were decidedly sit* opinion that it wa. cutivettient to (tailbone the re.. atrietion beyond the sth Jaly next. " Your Committee then turned their attention to the time proper fur contieuing the restriction—the &termination of which would, in • great measure, delimit' on the quantity of gold in the country be fore the year 1797, whets payments in cash were suspended. Of that quantity it is extremely diffi cult to form an opinion. A communieation by the Bank, in March, rated it at thirty millionth but described it to lieve been all exported. Mr. A. Barn% says, it is dtfricult to form all opinion of the ntuuut of gold bullets winch ought to he in the country before uttetupting a lull resumption of payments to specie—probably it should not be less titan forty or fartyAive millions. Not that the whole of that should be coined and put in circulation, but without half that aum exist ing in gold coin the measure would scarcely be practicable. I should think that the enthe quer-a bly of bullinti necessary is not to be procured by the country within u shorter period than four or five years. Mr. Stuckey, a gentleman connected with u back in the country, stated it lied cost i n to much to remit gull to town in the year 1817—that ix the course of the same he took cue thousand guineas lonised to him 1,:.1;14(11 'hi foam, quested him not to leave it 11.1-rv • uo it would attended .rich inronveriitnee to 1111-m. Other Governments on tlie Continent, Report continued, are employril in the me...tor. necessary for restoring a metal cireultition—aml !Iv iml►orinlinn or buliio►► into Europe nl-•- structed for some yews by the disturtard Hoe o f South America ; hods wh►ch circumea:stva Dare their effect in impeding Ilw re.lorewn metal currency in this country. 1,44, , moving the restsictiona, the mark. 4 tr e. , tog dispensations was of long standing ; ;t since the time of Queen Anne. Their Lordships were aware, that svoidmice of livings may be ntt tained in two ways—either by resignntion, er by Resignation it WHO 11 IltleCel.billy for fill) to "(Plain, but by cession was understood, that avoid anreof a living which arose from bikiiig a second !w -hence incompatible with the first. In case of avoid once in either way, a right to present lapsed after six months to the Bishop of the Diocese, and if not filled op by him in six months, then to the Arch bishop ; ar.d in six months further, to the Crown. this [Lit then were—first, to give (linty to the Clergyman that on a second dispesi ration he might hold according to the terms of it —sod second, to prevent the right to present in inch rases from lapsing. The Bishops sod Arch bishops concurred in the Bill, nod lie also learned that the Crown would not object to its provision.. For these relsons, therefore, he should move dist . the Bill be read a first lime. The Bill was read a first time, and ordered to be read a second time on next. The Bishop of CHESTER presented a Petition from the Dean sod Clergy of Peterborough, a i r. Mist the Catholic Cl:mos.—Laid on the table. The [loose then adjourned. ! Alumld he reduced to the ... mint ioricr; I',• City of g ide, wool,' Ile sufficient to rost.ir 1; # „t to contioue their paynnuito if dp-y ig.d 4, . . • , .... issue gold at 31. 17s. 101.1., the minket ',tier re,,, w , i ;, nig at Ili present rate, anti the expurtati,in affording a profit, as it would, of five per rent. Ds rilliC II CIIII.. liderlll/le part oft he years 18 16 and i 8 It, the rani ti ; PXCIlllll , lr‘ /Vete in favour of thi. country. 1,, July of the latter year, they became uttfarour e l i k. abtl contit.teed so since. Some a the stitae%p«. rtantiord before the Committer imputrtl stir la•t Ii sogr to tlw importation of r iTB , tuhIII h; ii unproductive hervest of 1816, the neresstly making remittance. to absentees on the etmotitteut, and the effects of fireign loans. Other witnesses, reigniting the force of these causer, were yet of opi nion, that their tendency in future would be ‘,,u si . teracted by the Batik's limitiog its issues. " On the whole, your Committee see no rPniroit for continuing the restriction now by law tottres,d, in such a manner as to prevent the Bank rewrit ing gradually to payments in specie. " With respect to lite impediments a r i s i ng from the investment of British capital to foreign funds, Mr. (+sidemen was of opinion, that not above like millions were an employed. Mr. Holland said, these were oot ten millions placed in boieigis foods, nor above three in those of FriflitT. Your Com m .. tee think, that no considerable additional stun is likely to he so employed in future, and that any remaining tendency thereto would rrobably be di minished by a removal of the restrictions ou the Bank. When they reflect on the quantity of re portable commodities produced aud possessed by this country, they see no reason why she should not amass, in the course of a few years, a sufficient quantity of gold, to render the ea pertinent of paying in cash perfectly safe. I).ffi cultics will undoubtedly arise dining the time the plan is carrying into completion ; but they will, in the view of the Committee, he far outweighed by the permanent benefits resulting therefrom, in possessing a circulating medium not subject to the fluctuations unfortunately experienced fur is series of years, and a fixed unvarying measure rf the value of all commodities, as was the t nee previews to the passing of the Batik Restriction Act in t!,e year 1797. " Your Committee see nothing in the circum stances of the country to render it t xpedient to defer any longer the making preparations for a gra dual resumption of cash payments—and think that delay would increase the difficulties of it. " The Committee trust that they a ill not exceed the powers intrusted to them, if they stiggeet plan, the best they can devise, for a retort. to payments, though it may be attended with rary disadvantages. The plan which they barged leave to suggest was, thiit alter site Ist May, the Bank should be bound to deliver it. tetiirti t ir notes_ gohl bars, not in less quantities titan tin o e. at the rate (431. 17-. 100. per oz. ; that that merle of converting notes into cash should not be cost, +mued longer than 2, or at most 3 tear-, after which last petted the Bank should lie ti quind to pay universally in coin ; that ft otti the let February, 1820, till October of the seine year, the Batik should be liable to pay in gold Inns, in the woe wire dim si 41. Is. per oz.; and limn October Itsit) till May 1. 1841, to pay ur bars its the tame quantities, at 31. Ige. 6d. per us. The chief ii coiniutudetton of the plan proposed way. that the Bank would be thereby enabled to make genesis! I payments in coin much canter I:,.its they otherwise could. Their fist issuing of gold at the trinket price would prevent any run for the purpose of ex portation ; and the gradual idealism thus wade to a total resumption, would probebly overcome the alarm which might be felt in the country out a grist and sudden drain. [The Report then quoted evidence given by Mr. Baring, Mr. Hall, and others, sheaving the practicability and advantages of the plan.] " If the plan submitted were adopted by the House, it would be expedient to continue the Act of the present Session, prohibiting Use Batik from certain payments in gull. " The evidence received by the. Committee strongly proved that the regulatititis against the exportation of gold wets wholly tea theme', rod „had no other consequence that-t-, to encourage poppy and transgressioua of the law. " Your Committee have the sati•factriti of in- forming the House that they receivvd a continuos c.ation from the Bank of Ireland, stating, that they should he fully prepared to iestime payineuts iu cash six months after they should ha:e li:eti re sumed by the Bank of England—und the Governor of the same, who was examined In lose tour Com mittee, said, the Bank of Ireland would feel cu difficulty in carrying into effect the same relf,ula nuns as those laid dowu for the of England." The last part of the Repot t was devoted to tot examination of the state of country hanks, and the amount of their issues. The CovitLittee said, " they saw nothing in them to form obstacle to their gradually resuming payment of t it no:es iii cash; and that with respect to guarding the public from the incuov enittice and lola w iping front the insolvency of pucli estalifsionents, tloy were unable, without additional evidet.ve, to all r an opinion oil it." The Report was ordered to lie on the table, and be printed. Mr. Tit:awry asked the Chancellor of the I . N' chequer, whether he had any plan to hold out to the Illu•e for putting the finances of the country in., more intelligible and rational foundation than 11, lur a lung time rested ou ? The CkIANCELLOIL of the EMAIL:QUER I had no further exposition to give till the should he brought before the Holm. Mr. TIFIllit:1( then gay.! matte.., that he onti: ,l , on the lath instant, submit a mutn,u to the (hove on the slate of the nation. Mr. ruts. said, the Appendix to the Repro: was very voluminous, and could out, I.c stinvins,.