The Sun. — London, England, 1813-04-01 00:00:00

relative to 01'0 hiiit'itry at Velltit; He thA.he had litard-:l',i iwattov , imputed > 44ll :" o ,rionent na -had Caused the mutiny at Yellore : this coupled with a public order issued tithe, had gainel a degree of Weight which other,vise %rout(' not have ied to it In an.kver toquestioris put the Counnitteo. i . he sta ted, the. Alis 'ho liaiLheen lit Bent* 17 years dis ihles and religious trictsi bad caused NA , ithdrew. • IThipTos; rbported progress, and ob !. to sit again to-morrow: ItoIUNTON moved that accounts of the '` k o f f India, fromlbe years 1802-3 to the tonnage and freight of ships en the' privileged' trade from 1793-4 'to ml of the tonnage of ships engaged in trade from 1804 to 1807, inclusive, be 'he .fiouse,—Ordered. gave notice of a motion for Thursday Ir an Address to the Prince hegent on employing Russian troops. in Spain. ' N EI', after a long conversation with llor of the Exchequer, postp9ned his !ctieg the Sinking• Fund, which stood to 'Frid a y, on which day he stated it :entionto take the sense of the House 'tion which he had it in forward. cuntempla- EN proposed to postpone the Com . - Weymouth Voters' Bill to Monday. R thought if it were so postponed, to he made peremptory for. that it was pending, three seats in that kept- Vacant. After a short cow/Cr 'as fix e d for to-mamy. Ti•Asr INDIA COMPANY. , Ise having - resolved itself a illll )t ; into Cote- blcEi.Loa of the EXCHEQUER - rose to qt. for the repayment of sums advaueed lie service by die East India Company. 'e the Committee would see, that at a lalportant to the East India Company 'eat, it was very desirable that the ac we en Government and the Company tttled its nearly a s possible, that there l ° complaints on either side, of ba wl outstanding accounts. The Coin- Av aucid sums to so considerable an !at it was almost alarming to reflect Oven advanced for military purposes, concurrence of Parliament. The eve r woahl feel the importance of hav a 111 Indi a , an d h e t h ought they ec' a~vat~ced e with hint, that it was very desirable I I should now' he repaid. In fiTy,nses wer e not to b e expected, as ,iit'lfrn.ow waved on the snores of Asia, " of k f: jiVa .acid the Mauritius had • emmi tici . ll menace, us before, and I%6 Ped th 14 uo longer necessary. It tog th e time to come,. the . as that %% pa r t of the on ) night be ,hater , - er the first instance to 0 :of ti le , funei - ) would be the e orougbt by the East India Cum 's` the country. The island of Java, la te, vas not likely to he a burthen to . .? I ' , its rev enue being equal to its expen 'ls was not the case with the _Maud _es_timated balance due to the C0m .7),294,000/. it was his intention to -,0 00,0001. should, us in former years, °I) aecoont, lie accordingly moved a 1000,0001. to enable the King to make ' 4 'de to the East India Company towards Ilt'hitms advanced by' them for the ser country: to a qiiest:on by Mr. Baring!, the of the EXCHEQUER stated, that , to the chims of the C om p an y t o they put iii other claim r: which he did is duty at present to Imiil4 before the , e, however, admitted, there wa:i no lTerence between the Country and the trTLE wished to know what were It.in,:las thi-Company LLOlt of the ItixcuEctuen stated ! le gri:Ntter pm arise on a ccount o f t h e tl)e. expedition aiyllost Java anti ihe 4 ' ll (k, were ordered by the Go it limbo.. There were other demands `emnat, consisting of large fiItITIS car• otiot froni time to time, by Committees ' I •C, of which the. Company complained. th;it k might be necessary to .I;.,nlent for further aid, on account of I),y. if they were dilappointed of sealit u sotsztx Wished to know in what way ere to be given, whether by a grant O y enabling the Company to burrow ? " o L Loa of the EXCITEQ,UER said, it /temptation to give them the permisOon t,ent to'borrow money on their own , :re- Inecessary, to support their credit by ite e of the public. 4 " , in Was agrted to, and the Report guniittee ordered to be brought up to- lINIITTEE OF WAYS AND NIPAM, "" then regorved i tse lf i nto a Committee ;141'4:4348. L(W ~,,t., L — cEL II Lna.of the EXCER said, that ,'"servations ' , Vitli whirl ) he should troit 'ol)lntittee related to a transaction that Mate that rnotnin„, , ; A propos4tion had 47 Governuient to . a considerable body 1 4 ftold a certain amount of Excite. t,'l'" ll : vi dui th e measure should receive of P ar li ament. It Was proposed to ,tt,iien, th at „,,der the authority o f 1341 twelve million s of vittstanding Ex sheuld he immediateiy fancied in , ii ttlt -qt srs that in which they had. N.,lt'lii,'ortoly funded ; namely, the fiVe lit vY Annuities. Isor every 1001. c) . soh.ierihers .to receive II 5d 10s. . . Aninlic •b I . Its. There appviired every 4. . to-ve, t hat notwithst an d ing t h e * hid, tie r t c .- the subscrili-rs would en j oy tiat t ," l ll . " ( "I must (Ab er oecnOuns of e yet that it would 'be gene- -144. tithi aceetittaile, rate of interest the Public would Bare tá pay on this .115/. 10s. would be,s/. 15s. 6d,, which added to the. Sinking Fund 11. 3.t. Id. would. make a tottil charge of 61. 188. 7d. for every 100/. of Exchequer Bills funded. On comparing this charge with tit:: charge whiCh would have 'been incurred had the fundhil , been agreed upon to take place the 3 per '' 'Cenfs, at the' present prices of the two' Stdeks, .it would appear that the total charge would be nearly equal. If therefore. it Was an advantage (and it certainly Was so) to crcnte 5 I per Cent. instead of 3 per Cent. Stack, that ad vantage bad been obtained lvithout any addi tional charge to the Public. It waa true that last year in the first instance only 108/: Sc. in the Navy Five per Cents. had been 'offered for every 1001. of ExChequer Bilis ; but the mea sure succeeded only partially—less than half the amount required was funded—and it was lint until a considerable addition was made to the pre mium that the whole sum, amounting. to above twelve millions, was subscribed for. That, how ever, which he had mentioned was only a part of the proposition which had been made, In addi-: tint) to the proposal for funding twelve millions of Exchequer Bills, it had been deemed advisable by Government to give an option. to such of the holders of Excheteier Bills as might think fit to subscribe on additional sum of 50 per cent. in money, for which they should receive debentures... It appeared desirable to vary as much as possible, the nature and securities of this description, and to multiply them from year to year as occasion might require, in Order to suit the different elassei by whom they might he held. It was thought ad visable, therefore, to propose, for this additional subscription, a security between that of the public fends and that of a floating security (such as Exchequer Bills), transferable from hand to" hand. For this purpose it had been proposed to issue debentures, bearing en interest of 5 per Cent. capable of being funded at a certain pe riod, at a fixed rate of stock, transferable by en dorsement alone, and thus possessing a character of greater solidity than that species of security which was transferable from band to hand, acid which was therefore subject to deterioration by loss or robbery. It was proposed that the interest on each of the debeatures should be plyable in April and October, and that it should' be at the option of the holders to have them paid either in money or in stock on the Silt April, 1815, or si.h of April afterwards during the war, or &Way on the sth of April twelve months after, the ratification of a treaty of peace. If stock were accepted, it 'should be exchang , ..:l for these d.ebenterea, at the following rate.,, erery 109/. , debenture, 1001. in the 5 per cent. Nevy Annuities, 1201. in the 4 per cents, or 'l5O/. in The 3 per tents ; the funding in any of those stocks at those rates britiging an equal charge the public. By this measure an advantage would .be gained by 'the publi of obtaining st• i,atever .sum of Money might • be subscribed, at a rate of total charge of Ns. per cent. , less than would be. created by the funding of Exchetpier Hilts, and the loan Which it would be necessary to contract would he very mach contractiminobjeet under the present cir cuiristances df the l*;liestimportatice. 'White - We public deri‘ed this benefit, the hold , .:rs of the de be n to res. would enjoy the advantages which he laid already enumerated, of having at a fixed period an option of stock or money, and in the mean while of pots' ,sitig a security as readily transferable and yet more stable in its nature than Exchequer Bills. He was aware it might be said that in granting , an option to the holdera of debentures to take stock or Money, they would of cOurse take that which at the period would be most against the Public. But on a fair consideration of the sub ject, he thought that this and other disadvantages -would be 'fully compensated by the advantages Which the Public would derive Eton, the pi tn.— In the first place, if the stock . were preferred, there was no reason to suppose that at the period contemplated the funding would be more disadvantageous to the Public than at the present moment. He bad. already stated his in tention to propose a grant to the Commissioners for the reduction of the National Debt of one per cent. op all Exchequer Bills outstanding. He also proposed• en additioi of one per cent. on the debentures as Sinking. Fund, that they might ue redeemed at the same Reriod. He was not sure that be had explained the nature of these secu rities sufficiently to Gentlemen who were not so conversant with such matters, as thoie witl whom he had conversed it) the Morning, but he had given au outline of their character, and he should he happy to afford any further information re spec dog th em .that might be required. The H alumni; of the charge that would he brought on the Public, if the whole should he. accepted, would be 300,0001. consisting of .five per cent'. interest, and, one per cent. Sinking Fund.----He would now proceed, .in conformity to his no tice, to submit to 'the consideration of the Com mittee, the taxes which would he necessary in or , der to make that provision for the. Sinking Fund which was involved in the Bill in pogress through the House, provided it passed into a laW. If, on the other hand, Parliament iould not think it ad visable to give the 1301 their sanction, at least lie would not be liable to proacli for having ne- • glected to provide supplies which might be appli cable to defray the charge. and Sinking Fund of . Exchequer Bills outstanding. Reverting to the financial occurrences of 1802, he observed, that, although the. Noble Lord then at the head of the, Treasury (Lord Sitimouth) did not provide t Sink ing Fend :'or suth funded in that year, yet the taxes ini e •sed to defray the interest and charges of that sum had exceeded by four or five millions the estimate. This ex7eas of produce which went to the Consolidated Fund, ‘be (Mr. Varisittart) aught have been justified in applying to the ser vices of• the current year; butt it was so import . ant to maintain the Consolidated Fund, that it peat* to him to be very inexpedient to take such a step, amid to be far better, however inconveni ent in other iespecta, to add to the existing taxa tion. jr ,addition to the 870,000/, which in the deeelopement of his financial plan he had shown to hue necessary to supply the drain on the Sinking Fund the Committee would recollect, that in providing the supplies for the last year, there was one proposit:on—the Auction Duty---which he htid calculated at 1el.),0001. and which having iifiridetiOdi it bettitiie nthiesiary *for leitti to step; ply. the eoeseenent, deficiency in the Consolidated -Field. The total Nam, therefore, that.it leeeatne necessary to raise by permanent taxes, .Was near-, ly a minim' of intently, viz. 870,000 i, to be' applied , to the Sinking Fund, and 100,0001; the defi e'ieticy occasioned by the abaudonment lteit year of the Auction Doty. For the purpose el preeid ing the lest naeationed sum, it was his Intention to propose to the. Committee, an additional duty. on tobacco equal to that imposed 'on' it last year, which duty - he would esti:mite. .at 100,0001. although probably it voithl pt.:niece more. Lie was not aware that this new tax would occasitra any material, inconeenienee; or at least he was persuaded that it would occasion as little ineonvenieoce that could be. de vised.. With ,regard to the greatey sim of eight: hundred and sevent thoesan ds, the" 4;m:ilea tax that be meant to. propose to meet it, was an in creeee of the .Custom duties. He thought this would be infinitely preferable to any atigmenta, tion of the assessed taxes, or of, the stanap. duties, which had lately been .so. ranch in-, creased. As the most Convenient . mode, he proposed to rnsise the sum of Bor 900,0001. by a general increase of those ditties, with cer tain exceptions. These exceptions were the du ties on tea, sugar, wine, raw silk, and cotton wool. On the other • articles which 'mid custom duties he proposed an increase of 25 per cent. No, such genera l augmentation bad, occurred since 1804, and only one partial and small, increase its 1803. Under the existiu cirentustaeces this in crease would be emeparatively little felt. For the country had, until recently, been so excluded from foreign retitle, that, until lately, all foreign m tides had come to our markets, what with the difficulty of transmission, the charge of freights, exc. under an augmentation of expense, greatly exceeding the proposed rate of duty. Many cir euntstances had, however; recently combined to render those articles at the present moment cheap er to the consumer, even with the increaeed tax, , theta they Were last year without it. He would estimate the =emit of this increase of the Gus- . tom dutiei, at Item 554 to 900,0001. In addi tion to this augmentation of the Custom duties, he Meant to propose a slight augmentation of the Ekeise in a particular branch of it. He proposed that this should take piece oo French wines—an article of mere lUxury, entirely confined tre the higher orders, mid if checked in the importetion, or wholly shut Out, be should consider it to he a nationel advatitage.---Ou French wines, he pro posed to lay `an additional excise duty of, 13d. a bottle, which would be about 18d. to the con sumer ; a tax that could not be considered very burdensome to the country. The predi"iee lie esti mated at 30,000/. ; no very important sam e and one indeed which it would hardly he worthewhile 'so to raise, were pot the subject itscif one so pro per for taxation, that even were it likely to pro duce less, or were. the consumption to be so di minished as to lessen the existing predece ef the duty upon it, he Should still feel it to he his doty to wake his present propoeiti6e. The estimated • produce, therefore, of the permanent taxes-would he, 850,000/. • (O thtegenceal increase in the consolidated ditties of cast ems, 100,0001. from the duty on tobacco, and 30,000/. from the duty on French wince, making in the whole a sum somewhat sheet of a million, to answer two ob jects—to the supple- of the Sinking Fluid, mid to make good the defalcation occasioned by the re linquishment last year of the Auction Dety. And here he would observe, . that although he had thought prover thus to replace the proposed Atte .tion Duty, he hed by no moire lost, sight of it. He did nut think it would be satisfactory to take in for the purpose of contributing to the imme diate supply hut he nevemd to himself the li ber•ty of proposing means to prevent fraud, end to regulate tln deny, it he should thereaftertind it necessere to do so. Those which he mention ed were. permanent taxes. ;I-le should next pro-, pose to lay some further taxes under the heed of -ear taxes, for the general purpose o!. g the Le.p plies for the yen; and for -the part'cular.ohject of providing for the one per cent. Sinl.± Fund. .;t1 Exchequer Bills ontseenling cin the ;id; of Janu ary of eaf h rear, to Le granted to the Comm:i sioners for reduction of the National These war teaest to thee, under the hen? of-imnorts and exports. list that he e shou d rOpese would he a gee inerease of duty on the importation of all . -:S and me:chandise the inantifenture of the French .Empire, anti at all countries depenee e. on France. It 't erne that trade licenses to France and her depeudencies were not now granite(' by .Goeerelietet, but ;twits obvi ous that ciremnstanees •t reader it politic to, renew theta ; and Ave undoubted right to , retaliate on the enemy all the oppression in which he had persevered luguinst , our 'counnerce. .proposed to double the war duty on such articles. Those war. duties were at present equal to one, third of the consolidated duties. fle proposed to add tO them to the amount of the other two-' thirds, tints making the whole of the duties in war double the duties in .peace on French goods . It was extremely difficult to. estimate the probable produce of This increase: If he tank' the average of the' last. three years, he would_say that it might amount to 200,000/. Bome articles were is prohibited, of others, the difficulty of importation was great; but by taking the various articles, and allowing one as it were to insure the other, he was confident the produce would not fall short of that which he had just stated. With respect to the exports, the trade about to open, would; in all probabilit y -, be so great, that no material ineon e venie»ee could,'in hi s o pi n ; on , ar i se front adding a half per .cent. to the proem export dutiee. In peace, such a proposition would be not so at the present moment. lie calculated that it might produce about 150,000/. ; and on this breech of increased revenue he thought he might coefideptly rely. Cllr. Baring here, reverting to the increased import derlet, asked the Right Hoe. Gentleman to what countries they were to be ap plieahle ?), Certainly the increased import duties. would he an goads coining from all countries de pendent, On France.. It would give hint ereat pleasure to see those ditties lessened by the di minution of the wither of those 'countries.— Wear hear !)----They were not to attach to the export of any country in amity with his Majesty ; ande.he declaration of that amity would' itutuedi- b t)i 4 . id , ( itihj o ,,,g l Y e n tell hi r:10,, ,the'attitttl t It a • oro gge ' to I I s itlgli,i that 6 r° "Ps 114 , 1, poi ation ' i ethog ~,,t -, c ersol . that tint % volt 11 ,S l allsibilit 0 ii'f t o " ii . 4 taelted 000, •111 b the ii,rh it. t in i i ies 111,6111 i s , l,, n ' 'P g Bibb neo j4nr(b!iii 3 , 1 - H is roiratt, lir, o s ejo i h,,,, edi lAxmi, n yilisn' : li r, „'''ve to 0 (4 iket., R. 'No 4401: 4567ng truck .ectoV 'of ti, ~„ ch . ,in th e . tee oelt '. r l , and t diet t" W 4 o :ate ti , „, the 'or li t el i"'e the 30 [1 ibit !'poi 'Aw gn , I v bitt , ' 4 t ) qht f, i , a r r :co•ii 'kl )ull eY of c t i . ' I ERNE , i r,t3P . 1 / 4t :"atleell ur hula ' l / 4 14 re t ,, e so fh , ; . ,114 tray, t , ct 4.1 16410 to :6e tt t i,;"' totem 0, 1 r t c ,,, thoposit to et't : i t Cl ! l rIllg f, CO ° 1 hitt t ,' l tt'itE , th IP A 'l„ t 4 ,1 the t rti '' tilt ori v:.' k y oF 0 (11 Y , q etilligi )1 1. Of 1 107 jte 41 1 1 . e g h o t, „i iiti on !e t , lit odd 'l c ' l t w as 1 P r f t ,l '1....e II 1 ury . 'Kl ee 0 otto e le 1 0 ' 1 ' , ri ao c f Sltn/ 00, ) ,,,, ' b s ) t ,l'e „ ,1 4 4 NC I 1111 019 . 200 S t ahl t htil / 4 ', .4t1,,,t,.: Plibli e 0 10 1 :' '?Iitl f 1", 111 , 1 e ti irio ° .:i , I I the ..nci drip, rtY 71' . 2441 y,i'v'eltt prq , '44 0 1 uctiv e 0, it. dh e ' i i .1... , mkt` I , t . 'ltl i 0 .1 . ..1; mk t , - e rit, , si lifi o it 4 4, Clue „, 'ht.. .1 ~„1 i •er . i ll 4 -Vti rd, be. ilith i s , th at v iiid fi).l„ "ul ti e I li "'t the e ol toL , Elise -le , it e hi, (M r. i lurk ' yel l :) 5 1' ', I ,* l 4hi . ' l n i: . 10' 3 it . "gree f it 4444 v 0 00 1 : 714., 't) a Olt, ' h ost a ,• l ; ell e) iclit i r i th e , e . flat elie( inveti'4l)tt it be ' .4 e . , a t- i llt i yttli i ;hi t i t e u t ,''; l iolv r tent _ -Di . hi c h '. l4 vi)! " ( At. it 411 ' 4' Y out• t, '''''" ' of p i ,j4 ligninst ~ 0.5,10 t e . ,to slat 0 ' l' . bt lii - umti•) , . 0 . k . , - li i'lii • 00 I Ti, ' ' ,tl4 'N. e es sil t ) ' Yt ° .) .e th, • ••.. 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V) - ~ 1 3, i h11)y, `i viv Ll'. l . • ' io s‘t 46 M 1 i Po, 1 tilO *l , ' kid '' So l „se?, it it 7 were p ly , , or by rig i ' Vk _`lave, t il ( iCO o f 4 . . ;t i Ifi, 1 1 t , l 'NC 0:: , i Iffhtillten I t. il4 l . tt'iii tittletit lil ti • 0 1 :• h,R 1 14 • i t 111 ;it . l e It'lie "Ilitee 1 , -,,,t , . if tA,,,. ,1", - 1 11 4 (.., .""(1; ,;jO-410 rNiiv'(ititni 41°1‘' 'r h tom \ I f ''' T Iv' 110 1 Ivor '4 4 4 0 ~ ~ tht t c atm $ 6t, ItA11 ( i t+h,s 1 / 4 ,, 14,, , t hit :, ' t„kdotrit , C 4), .. t i t : Itt ; : / '1 1 1 1 A jo t ~ an • ) be . e t iiiii' t t ief l 4 .., A t . l ' 4 lle t !' p d i llt ... 1, 1 11 t iv ,.. ..orl itl Etly t t e , r , i ° l l4 ll ttle nt ti t Ki er . t Of ' :.14t kip 1 4) r', d i Vip L il t s, 0: 1 ? P Itit"'" r ill tt " I 's , (l, ' N' , , . 4 ,4 4 ti, th t , 1 , - I. 44 't) , itt - Pt t ,k 4 l il s .1 1 ., i , t q r a - ,k 4 'llk ' r 1 i t w' g `f li.. ~ 44, , If glak tt ter 0- 1 r ir ateiy cause the •lessatinri of thcise duties. The, only other additional duty on export , %% hi h meant to propos . e was; a duty at a ne..ny a on the ex porta; ion of foreign hie!: w 0 ,14 operate very adraotageously on' our ielther factnres in foreign mail:els. The next tax .he should mention went on somewhat different prin ciples; it was a tax on American • cotton wool.--- The Connn vee must be aware of the intended American blockade. This %you'll have the cilect of depriing-Otir . countrymen, concerned- in the cottontrade. of the raw material, of their manu-• flOttirc.;, ?;ii far 'as depended on America. There was every reason to believe, that if the impor, tation. of cotton wool were encolvaged, an ample ,Snpply, could be °litanies( Item other parts of the world, and from our • own possessions. This, however,. it was obvious, could only depend on ,such encouragement being give!, as would se cure the merchant engaged in such a specu htion, from losS, after fetching 'the commodity five or six. thousand miles. When the-American embargo cook place, . se•me years ago, enedurage anent leas given to the importation of Indian cot ton. 'Before the ships could return, thrAtnericatz ports were open again.. The cotton front India arrived too late, and the speculation was most ruinon3 toithose who imported it. If those who bemid ht disposed to engage i n p rocur i ng i t were left to tk similar fate, we could hardly expe:t our manufecturers .would be. well ,se;plied. At pro - there was.enough , of the Sea Island or Geor gian wool, to. keep on with for a considerable time. Ttiere was every t eason to sappos& our stock- in hand would.be found sufficient to cony on our ins nufactures without interruption, if sufficient end. immediate encouragement were given to.export it from India.. It might be, by the time .this could !)e done, we should agaiwbe on 'terms of amity with America. To.pi.: i - ect the merehtu.ts who might engage 'to procure it from Judie, he shOuld pose a duty of three belfpeoce per poond on staid.-- mean cotton %yob'. 'I ills, he :lolight, tvould .be not a prObibitory, lint a, protecting ditty. On American cotton wool imported is foretear.ships, a larger.flitty would be. necessary. ,He:should pro pose sixpence per lb.- To this. proposition, he thought only one objection could. be made, that raising the price of the raw materials, it yrouid necessarily' raise the price the manufactured article to the consumer. The advance, he thought would be such a trifling fraction, that it :would hardly be felt : and the general opening of Lae trade would cause a much greater advance than this cold(' occasion. With respect to America, competition in cotton inanufactnres was out of the question, and we could not tear competition with France.----No competition, in fact, could exist in this respect, betweena country lvhich imposed a tax . of ss. per lb. and one in .which . .the'duty on the same article • was not more than nine-pence, per lb. and in ordi nary cases did not exceed lour pence. At present. we might be saidto hold the monr:poty of Europe in our hand. We bught not to abuse such advantage, but we ought to take every precaution 'that might ensure us the full benefit we were entitled to derive. from standing in such a si• tuation. Circumstanced us we vare, that tnea. , rinse might now be prndent, , which, 'trt a.icatiter time, would be dangerous. He thought Cio vernMent ought to have poyers entrusted to Omit, which might enable them to take advutitage of, any events that might occur from day to (ley.: He would therefore propose that the Knike `in Council should be ableto order the suspeosion or' reduction of any war Outies tvhich might be imposed, in the event of any Power affected by. them friendly to England. Ile de clined at present going into any estimate of what he expected the war duties to produce. Ile wishes theurto strengthen the war .taxes, and it was his hope this would be effected by the means he hail suggested, without pressing very severely on the .people, cnneladed by mov ing his first Resolution for fnniting the Exchequer .• Mr. BARING allowed that the Right Hon. Cis:u.. Oman had .latle rkTy ample prOvision for the purpose* iltende ; and though he (Mr. Bsi!tig) itiki not now make any observations on Oe. t 9:, aicial par. of the statement laid before the Committee, he could not suffer thd proposed 1114tiStlit` of laying a duty on the importation of cotton frt Auterica to pass unnoticed, con ceiving it to be a subject at the very livt mFtt porttelte.The Comtnime must be aware, that if Au:erice . cotton came at all to .I . llis cowl -I.y, it tS ust come in nr.:ctral bottoms,. old therefore that the whole ground-work of giv-. ing enctm :g . ment to British shipping was no gatory. The Committee should pause before they. sanctioned a step witch, if it prove t l to be a false one, would endanger the industry of •sO many thousands, and a,papital of so many millions. If it ended in establishing a competition to any extent, the misehiet would be irretrievulle 'because, though the Rt. Hon. Gent. spvltc of su . ,pcnding. power to be vested in his .Majesty in Council, it tuust prove wholly insufficient as a retllo ly 'afte the evil had Occurred. The fact was that. India did' not produce the cotton they want ed; and it was well known that. the. Sea Island cotton was selling at. twenty pence per pound, while the best East 41(4 cotton did not 14Litig more than half that 'price. The Gentleman next contended that it would he intpo,,sihle to keep the Americancotton nut of the market by bloektid. ins the Americams pol'ts,, as the improOng Stitt of Europe would give a neutral character to the countries ' along . the Baltic 5 . and tire ctltttiti would fititl its witty thrtnogh . Georgia, Florida , „ the Mississippi, and by the in! and , navigation, down to St: Augustine—from whence it %%quiltl be of the '.hale navy of Great exported, fit spite Britain. Besides, it might be exported, in the frst instance, to the ports of Portugal, and the 3Uanufacturers would have to pay the increased ex; pence of the circuitous navigation to this country. The hollow policy of attempting to fort e a „rowel which was not natural to a country had been successivel y demonstrated by the orders sent fin cotton to the L..st Indies at a former period, which,_ when it arrived could not be male use by orders , sent for rice, which, when it arrived, found us all in plenty—lnd by orders tor hemp, when we citaTrrelled-with Kass. Sir'lt. PLELE strongly deprecated the proposed measure. Mr. Pitt thonght it desirable to encourage the imiiortation of the raw Ineiterial how all Tuts