The British Press; or, Morning Literary Advertiser. — London, England, 1822-06-13 00:00:00

I I • the West Toth' interns►, then enntinue ibis exclusive pri 'Rev to them. The Hon. Graders's (Mr. CApersthess) teemed to have a very high opinion of bis Majesty's Govern ment, and he (Mr Ricardo) ni:ght entertain similar opinions as to their intentions; but, as he brfore observed, if We did not shut our eyes we could ant but sea doable Majesty's Goveninseet vas frequently obliged, in consequence of She clamour of coetenditig interests in the House of Comm ns, to adopt • course which they themselves did sot Ibiuk the owlet proper. An instance receutly occurred, where they • writhed lb •fotroduce a clause retpecling - the Ira& into the Bill of the Right Hota. the Presideut of the Board of Trade; which they meld not carry. What he wished to ore ernes House-of Ltimmost which would act for the general Were,' fermate.' of the importunity of particular climes. Me. TUCKER took • review of the whole of the in terest* which were affected (tweedy or collaterally bribe 420Weitare then before the Court. The first interval was that of the consumer. tle bad heard it estimated that triple, or grieved roliciruple the preireut quantity of sugar might be scoallutned Ir tine toiletry, if, instead ulpaying five-pence or Mestere 0 pentad. She consumer could have it at two-pence instfpenviy or three-peuce. It. effects on the British menu. hewer were also iseportaat. The Ilun.Gentlegmer (Mr. Forbes) had pointed out the extraordinary growth of the cotton trade, and it •as Impossible to say to what eldest that mighebe carried; bet the East Indian would say," Too most take my sugar in return ;" to which the &meter would be, "That is impossible, as we have give. the monopoly of "At safirle to another interest, and it would be madness so import your sugar loaded with • duty of 200 per cent." It would easily be men that on such a footing there could be 11, erode, slnee all trade ultimately resolved limit into • trade nf 'barter, and on ap other fousclatioo could it he per. sommetly supported —(Hear.)—What would be thought of* Meister who should propose a duty of 2001. per rem. on °Mon' roods emeirtrd He would be thought • madiumi; yet Mat was the case at the law at present stood. The *tercets of the British Indian capitalists were also injured by the restrictions throwing difficulties in the way, and pre venting she remittance of their property to this country. To dna India Company, who had interests as lord. of the sail In laths, the restriction was eminently injurious, as the dram, hy the exportation of bulltoo, mast teed to dirniaish their revenue. ludepesdently of all these considerations he conceived that the high price of sugar operated es a bounty 4)0 that detestable sad nefarious teethe, she Marc TraJor, 'which continued to exist with all its horrors. For himself he came forward to advocate the interests of the 'wive landowners, and other chines in ledia, mid be con rrrrr d with the Hon. Proprietor (Mr. Foebes) is how/ that all would act energetically its concert (not to crush any other Interest, but) to obtain an equality of rights fur them selves. Mr. LOWNDES protested *trolley against the doctrine of equality of rights. The word scinality had been the occasion of as incalculable deal of mischief in the world. He 'bought the claim of she East India Company to be admitted to the markets of this country, as it on. prior to point of time so that of the West Indian interest, should at least be on the sante footing as to dstirs. A PROPRI ETOR, whose name we could not learn, wished that the correepondence which they bad beard read should be printed and accompanied by a Report from their Executive Body, with their opinion as to the cousequeuces of the new Feistiest, Is which the Indian Empire was proposed to be placed as regarded commerce , and that growing tepors to which allusi on h a d b een made, and which at pre gem put the looms of Lancashire and Scotland In mottos. Mr. TRANT conceived that the Company bad • deep in terest is tlse quistion. The revenue of the ceded provinces Lad improved under the Company's government, but it would he difficult to maintain it at the height at which it now •tood, without every excourageoseutto develtspe the Meetly efirthe people. He believed the capacity of those provinces for growing sugar would only be bouudal by the wants of this country. A PROPRIETOR wished to know whether the Bill would not proceed through the House of Comment in the interval of delay which was proposed for their museitierisig it. The CHAIRMAN thought they would be perfectly safe in 'melting the time proposed. ' After a few further observations from Mr. FORBES, the queatien was put, and the Court adjourned to Wedue•day JAW, • .1 IMPERIAL- . P Rp#AIENZ. HOUSE OF LOA . lllotilipiaiNnt, Joan 11. Their Lordships met at tea &WWI. APPEALS. Appellant ; terty mut., Respondent. '"thin was as Appeal from the Coart of Session (Scotland). The Attorney-Gs/sera' was heard to reply.—Judgment pose putied. Lowe. Appellant; RANKIN, Respondent. This was au Appeal from the Court or Exchequer. The Judges attended at twelve o'clock aud delivered tbeir cow sivesurti—JwATAsent postponed. Acuw, Appellant ; 111‘11rdm. and Others, Respondents. This Wait as Appeal front the Court of Seasiou (Sequined). The Attorney-General was head for the Appellant.—Further !Jeering postponed. The Hot Christopher H. Hutchinson and other Mem bers of the Heave of Commons brought up the Bill fur the estsbliihing of Markets su the City of CAtht which was star) a first time. Mr. Trotidell, from the Office of the Cli;of Secretary for Ireland, presented the Report of the Cirtnrniasionets for Fisheries (Ireland) —Read and laud ou the table. Mr. Wailers, from the Court of Ring's Bench, presented • Rn•vn of Reversions granted according to the order of their Lotetstil pl. • Mv. Rote, from the Court of Common Pleas, presented • •imitsr Return f that Court. They wire laid on the table. The Cork Hosbuur Improvement Bill was read a second titre. The Warrant of Attorney pill was committed, sod re potted silliest any amendment. The Recogoizanee Bill was read a secood nom REGISTERING OF DEEDS (IRELAND). The Earl of 'BLESII toN moved, that the Bill for the better Registiatios of Deeds should be ee-colositted.—Or dered. The Noble Earl then move', tome Aratemlioests, which wore agreed to, and Ilse Report of the Commettee ordered to La received to wore°. Oa she matte's of the Emil of SHAFTESBURY, the Slif , riff* Depute (Scotl••d) Bill was road • third hat, after a eettoll Amrodoneat is it ou the •Ogge." oo Of She Elul of !Lauderdale, •ad seat to the Hoare of Ceatabatu. MARRIAGE ACT. Lord ELLENBOROUGH snowed, shot the Order of the Etowah°.kJ he read for their Lordships being summoned for the comusitlal of the Marrisge Art Aniendnient Bill, fur the poi poseur discharging it, and fflOeWing it for another day. 114 e did this at the request of the Noble and Learned Lord en the Woolsack, wins was anxious that the Bill thuitlil not he committed to the absence of the Noble Evrl at the head of the Treasury, who was prevented from attending in his plate by iadisposii - T►e Order tr/ she Day being read end diseharged— The Noble Earl moved that it should be renewed fur Tuesday °tel.—Ordered. TM .Manslaugter Peniehment Bill went through • Com- Maim% asd was reported without any Amendment. Adjourned. HOUSE OF COMMONS, WZDIMIDAY, Imes it. .M.N.MI. Sir T. WINNINGTON presenter! a Petition front errtais Hop Pisan r• w firrefordshure, praysnf fur the repeal of tie duties ou Hopr.—Ordereirl to be priotral. POOR LAWS. Mr. NOLAN postpooed, to the 27th ;aslant, his motion ►elative to the Pour 1A... FOREIGN SPIRITS. Mr. CURW EN N0..v.t1 That there be load before the House an account of she total number of gallons of voile importt 100 England (except Gum 'reload), hoar haunt) , I, 1814, to Janette) 1, 1822 ...Ordered. Dlr. GitLNFELL wished to how whether it was in. re. The order tk• day was Ono read fur ;mating tke de- bate oo the • STATE Or THE CURRENCY. Mr. G. BENNETT wished before he commenced to ban the Resolution of May 14, 1811, read, that th• Wass might be fairly is possession of all the circumsnotes. The Clerk read the Resolution of the Cosimittee, which purported that ft was their opinion that the promissory notes of the Hank of England were held is public intimation to be of equal ratite with the legal' con of the realm, and were gvnirally accepted as such la all annoy transactions among the people. _ . Another Remlotion of the one Committee was read, which staled it as their °pinyon, that the political and com mercial situaliou of the country was reason ettositJh to se. tonsil fur the state uf the exchanges at the time, Ilithoot re. ' ferriog to the h'gh price of bullion. Mr. G. RENNET!' then proceeded. He was anxious to explain the reasons of the vole ha Wad about to give. He had tang held the opinions which he still eatert•inerioa the sub ject before them. But he bad retaMed them withio his own mind, partly induced by their seemiag singularity, when compared with those of almost all the Members shout him, partly be he felt that be was nut old enough iu Farb.- wog to 'future to oppose himself to the almost untied sense of the House. The consequences, however, had bets far greater is importance than he bad ever Inaggiord. Measures had hero taken mach laid produced vast. calamities, and though he was not prepared to 'retrace his steps, iiiid outdo all which had been done, yet' be felt that inquiry iota the terrible causes of their distress liras yet desirable-, and that it would be uu less just them perhaps it was predicable to find out a proper remedy. Me had heard the Right lion. Geode iota lent night with pliessore describe the evils which sprang oat uf the first change in the carreitcy. - No one knew het. ter then that Right Hon: Grallemau bow to deitribe wit', troth and vigour the enurmities to winch that first measure of re st riction bad given birth. But veldt what temper could the Right Hon. Gentlemen coudoet such a discourse—with • what temper (-mid his friends on his left listen to loon, when it was conerderrd that it was their act and deed upon which be demented, that they were the masagiug Guveritoieut under • which the measure bed bent contrived soil put into its leatie ! ful opecatien hum fist to laste-that !bey were the piety who • had cheated the creditor at one time by lowering the standard, slid them had cheated the debtor at another by as violeollyrais. lag it— that au classed' persons in the state had escaped the evil of their conduct, Ar had passed entirely asheirt by them. He then proceeded to sheer what was the mato ef depredation to which the currency had (ellen at the time Miehterseaused the House to pan the Resolution which the Clerk Auk read. hi 1793, lad from that to 1797, the dollar was 4e. lid. iu • 1813 the same dollar was Is. The ounce of silver, which in 1707 was 5.. was in 1813 risen to Is. id.; the ounce of gold, which at the former perlo I was 31. 17ii. lojd. at the latter was 5/. 10s. 10lierii in 1793 wis 6e. 9el. the Winchester bushel, in 1813 it was 14s. 4d. On the ge of ten 'ea.,' ending 1793, it was 6s. 4.1.; of other ten years, eliding 1819, it was itt. Gil There was nu essential article among the con. yeah-sees of life whirls had not bees equally afficted by the depreciation. The Right Hon. Gentleman talked much of the danger of !peaking faith with the pub'ic creditor. No one was more anxious to preserve that faith unbroken. put it was Ismeuteble that G cot bad no sense of such a psinciple to, prevent them from cheating every creditor in the kingdom ia.1797 ; it was lamentable tbat,they hod no such principle to ',strobe them from 'cheating every debtor iii 1819. Wit besides three, there Was an inteimediate eel of robbery peepetrated by Lord htanhope's Bill • f 1811. The Suepenetuis Act before that poly affeded the public creditor. As to individual affairs it was not them at all applicable.— Lord Kiag, h og the necessity of cluing himself justice 11 against the. of hire property by the enor mops depie:cia. mos, gear null to • looker who was his agent, 'that in fis• tore be would "seed the (ululated of the old engagemeuts to be made good in bard coin, ureter the depreciation tope ac- counted for, so that he mialit receive the value which he had bargained ti tale. Geed nmeid then stepped forerahl, and eootrary to anything that ever was beard of interference itialte affeies of private min, passed a law to make the Batik paper a legal tender. This bad never been dope, "wen in Germany —on, seer yet with the assignam of France—nor the debased paper circulations of AlUitiel.• And now, forsooth, theGorernmeol would time forth and taunt the claim of the debtor, who prayed not to be compelled to pay more than his contract. Let Me Howse consider what was now the situation of every inth "ideal who had made money au engagement betwero 1803 and 1813 That was the situation of all those who had family engagements--elueeties or annuities to pay to childree, - oe "'Memento to widows? Why in every cage the charge was doohlrei. What then were they to say of a law which had doubled every debt and mortgage in the country—which heft an enormously cheated every public and private debtor its the country--which required that the funilholder Amid he paid twice the amount which he had advanced, suit by coos,- qornee added 3or 400 millions to the whole debt ? Pi.blic faith was grxid—let it he kept with the kingdom at large. He would vote for the inquiry, to see if It were possible that some balance might be struck and the couutry relieved from a claim of repayment beyond what it had ever received. it was said that the pasties had themselves to blame—that the depredation was full) korown to them at the time they en tered into their contrects. It might be known to some Mem bers to lOW House who were political econoeilsts—but how could the public have understood it when litre Was the vote of the House declaring that there was no depreciation - at all ! The freaks and varmint of Ministers on the octillion *crepes less remarkable. The Chancellor of the Exchequer risked Ins foi time on the resolution. The Noble Matelots Near him &atom, that gold hail risen, but paper had not declined. Lords Eldon and Liverpool spoke with equal confidence. It was true that the return of cash payments had beets frequently promised, but what confidence could say of the public have— what expectation of such a Measure •fter the 'quoted sub. terrines and postpo n ements? Certainly no one ever anti cipated the evil of the cash payments when they did come. The Right Hem Gent. had last night referred to the time of William, attd the Act brought in by Mr. Montague, whose abilities as a Statesmen no one would deity. But let the hazardous condition of the • State at that period he considered.' The demo tottered on the head of the w --flee bonds of Government were just then loosened by the toes of the Queen—the peace sad seen. my of Government Were put in peril by a detestable Tory Action, who bad newly brought on as much mischief to the miler) as their successors bad actually operated is the last 50 year.. But then what was the extent of Mr. Mon torte's wafture, and of the affairs to whit li it applied?— The whole curreocy celled is was five millions; the Whole expense of reissuing it IN a restored state was 2,400,0001. — The whole revenue d that period was about 5,500,0001. There was little or ho debt : 'when William died it only am iunted to four millions, the interest upon which was 200,0001. Now the debt was 800 millions, the annual lute. reel 31 millions, the total revenue 60 mi bons. The whole debt and eapeuditure extracted from the people betweeu 1688 and 1702, was little more than 70 milkiest,. Now to value these sums in torn was, as had ten e rounded by his liou. Friend the Member for Ease; the proper way of bringing the queatiou of expense to the test upon a long pea nod of years. There could be no better method devised for detecting the fluctuations of the currency. Ile then pro ceeded to compare the expenses of 1793 with 1813 and the present period by that measure. The taxes iu 1793 were 17 millions, out of which 8 millions went to pay the hem real of the debt and keep up the sinking fand. The total income of the country bail been taken Ly the Noble Lord at the bead of the Tiessury iu the exaggerated amoral of 250 millions. The toaea were auw 73 toirlion., intlailling poor and county rates, and all other charge., prices Vela( the same as in CM. Taxation, therefore, which was Ong in three then, was now one in six; and yet Gentli mew could be still surprised how it was that the country was suffering so gird distress. The plain reason was, that they were muse all their debts and incombrdices doubly. It Wad now a common orcurreuee for es-tetra to be yielded Bp, the old proprietors being perfectly beggared, sail the pro. pert) assigned entirely to the emitters. They beard of such things in every company. How should it be otherwise ? hire* were at ouo-balf, while the elchis ea t ie, in no minal dimwit, exactly the same as heroic. But oho I es old say how mo t h t h e pu bli c h ai l 10.4 by those varied' flurtastious ? Did auy mau suppose that the thirty.illie • Inil loos made by this Bank since the restriction, did nut come out uf this pillage of akr people ? lie did not iherefule • blatoe the Bauk ; they only made a tessoneble and piufitable -4110P'• : .111011111• •;..71; ; -~ ••:" • c„.f. tended to brag - 6rwera tlee Military Peosioi ill Ate evening' Mr. LUSHINGTON said; he presumed hie Right Hun. Friend would postpone it. ' GRAND JURY PRESENTMENT 4. Sir J. NEWPORT moved for mid °bullied leave to being in • Rill for the purpose of ' , piratic Gritted Jar !Wiest meets le Ireland. CORONERS IN IREI.AND. Mr. R. MARTIN moved for leave to bring in a Bill to reguliste the elite of Coroner in Inland. As it was not his intend...l to do more during the present Session than tetra dace the Bill, and have it circulated is lielaud,'lse could DOI solo-vale any opposition-. Sir IL SHAW seconded the motion. Leave was then grouted. REronm. Me COKE presented two Petition , from certain Owners and Occupier, of Land isilty Costal v of Norfolk. praying for a Reform in Parlitintent...-Ordered to be primed. Mr. F. BUXTON 'withdiew his motion, whirls stood for this evening. fur papers relating to the capture of the //evils' by Mr. Ogilvie. AGRICULTURAL DISTRESS. Lord A LTIIORP pencilled • Petition from certain Owners anilpecopiere of Land in the County of Northainp.. ton, preying some effectual relief to Agriculture. The Pee ra eumplidued that they had presented a requisitiou to the High Sheriff requesting him to call a county meeting, which he deelitted. He (Lord Althorp) was well acquainted writs the gentleman •ho was Sheriff of that county, and from his pi romal knowledge he cool.' any there was no man less likely than by was to be 'cleated by improper motives. But at the lame time he must oh that be did sot think lie hail exercised a wood discretion in refusing to comply with the requisition, because it had hien smiled by farmer* only. The Petworiers AMA that the prices of core rem now as low as in 1792, but they 'could not get • renionerst. iog mire, and the reason was that taxation was so south greater now then then. And they further meted that the present state of things could a arise had it not been fur the Meatus resorted to in order to obtain an inflisence in that Horse. They, therefore, prayed fur au adequate change in the tepresentation. • Mr. cmtrwitiGHT observed that after the temperate statement of his Noble Friend respecting the conduct of the High:Sheriff, it would be unnecessary fur him to make many obeervatione. As to the general principles the Petition coo. flirted, he waist opinion that the distresses arose from • just sod tircrosarp war, and that within the last twelve muotha 4,000,000/. if 'united been reduced, and he feared with very little advantage to the country. From that he was not in. diced to entertain much hopes of relief from reducing' taxes. With resprefto the Sheriff he most my, that if oily man was more free from party feeling than anothiir, it was that gentleman. The circumstances of the case were thee: Two reepertable ferment wailed upon him with a reqoisition sigsed 4400 farmers, requesting him to convrbe • meeting of the Nobility, Gtutry, and Cflogy of the county, and he stated that not loving the flame Of one gentlemanor any at the clergy irtgaed he the requisition, he could not emeriti to assemble the cutely; bat if • requisition properly signed were presented to him, he should instantly call a county meetieg. He thought it oeceataey to make that statement in vindication of the Sheriff, oho (be thought) bad acted prudently. Sir J. NEWPORT 'mid he was somewhat surprised at the statement of the Hon. Member who had just eat down.• He stated that the Petition did not contain the signsture of a single gentleman. The term gentlenian was a very vague expression. But it appeared very strange to him if a comity meeting could not be called iu consequence of • Requisition signed by 400 freeholders. He thought that those who had the power to retaria a member were eumpe. tent to call • meeting, and that It roold nut be considered presumption its them to apply to the Sheriff foe that purpose; sad he was sore tire Honourable Gentleman would not hare many is that House to support him when he said that the Sheriff was "warranted in refusing to comply with the re. sysisition of 400 freeholders. Mr. COKE said, that it was that Port and necessary war of which the Holt. Gruilesttan opposite (Mr. Cartwright) had spoken that plotted the country into all its distresses; bet the Boa. Merolor might choose his line of csmiluet, and the : Petitioners would choose theirs, and he hoped they would chew the Hon. Gentleman that they load (lie power-to din plate him from lire situation he then held. He pitied sin. • eerely the condition of the yeomanry of the country, bat he • mild not sympathize with the country geritlerneo, for they. had brought all the distress on themselves. The Chancellor of the Exchequer might repeat the lima he bad reade at the beginning of the Session, that the repeal of taxes would be a calamity to the country. Bet the reduction they bed obtained was prodUced by the Petitions of the people, and he booed that iu the !Mine of the seat Session Petitions to the same effect would be presented from every county; nay, ail had been done in Norfolk, from every bandied to the • kOeidom• 'lllr. CARTWRIGHT could not conceive why the Hon. Omelawian (Sir. Coke) shoirld travel out of his way to make a pewees& attack upon him. He could tell that Hon. Gen tleman, who was so fond of 'prelim( of his own independ core, that he was full as independent as him, and had always acted from as good mollies; •nd be would never fear to meet his constituents at any lime, Mr. LEYCESTER was of opinion that the Sheriff had taken an unwise course. He approved of the language of the Petitioners, for when they fell deeply they should speak boldly. The Petition was ordered to he printed. Mr. CURTEIS presented • Petition from certain Owners and'Oceupier• of Land iu the County of Sussex, coin plain isof of agnewitiral distress.—Ordered to be printed. TOBACCO DUTY. Lord BELGRADE presented a Petition from certain Ma. nufecturers of Tobacco in Chester, complaining of the di.• teemed and deplorable condition in which they were placed. They principally attributed that diets cm to smuggling, which was earned on so exteusively, that they could pm-charm tO baceo at a cheaper rate than they could produce it. He was persuaded that if the Chancellor of the Excli , upser would re ince 21. from the duty, it would tend in destroy smuggliug, and improve the revenge—(Hear, bear.) Mr. BRIGHT said, that this was a 'object well worthy the serious comideration of the House. He knew of several large capit•le that. had sustained considerable loss in Bros. in eoneequeriers of the extent to which smureling was carried. On the tweet of Ireland and or the coast of Hut. laud it was earned on must extensively. When his was is Holland tart year, there was a large retiel fitting sip by eM ' Moat e .pert artists, Is the best manlier, and With the meet daring crew, who were the terror of the place, for the pur pose', of 'singling. He did nut knew whether that morel • bad been seized, but if she was oat, she must, by this time, bare more than saved her expenses. Sir JOHN NEWPORT said, he had eyrie and again en. deavourrd to Impress upon the Worse the necessity of put ting an end to this practice. It could not be dune by any preventive system, however good. he only sure and of ee- - teal means wonld be to I the duties, which would pet down smuggling, sod increase the revenue. A les, nominal duty would produce a more certain , without airy devtructitot to public morals or public principles. Mr. LUSHINGTON said, that smuggling, so far from he. ing increased, had been on the decline; and from punitive knowledge be could speak, that in Ireland the revaroue aria, iug front tobacco had i bed within the last Ave months. Sir JOHN NEWPORT recommended the Hut Gentleman to look back to the last three years The CHANCELLOR of the EXCHEQUER gave some explanation, which could out be dtattuctly beard iu the gallery. The Petition was ordered In be printed. Mr C. DUN DAS presented a Petition from Berkshire, complaining of Agricultural distress.—Ordered to be printed The Committee es the Irish Police Bill was postponed till Friday, the list Insirost. Sir J. NEWPORT moved that the Bill fur allowing arena piing tenants in Ireland to teach r receipts fur Grand Jury Aaarssmeata in part payment of rrof, be read a "'cowl time this day three mouths, with a vino of carrying it VW the &sell/IL—Ordered. use albs deadfall power iotisdeii to them. But at the end ofthe period. flecylid takers such measiires to reduce the cur rency, as to doable Ike value of that profit which they had made. As to the complaints of those who affected to re present the agricultural interests, he thought that they deserveal their fate. He could scarcely be Perry to see thitse pers'aws Who had strutted the floor of the House, arrogating the character of the supporters of Mini.. tees through the wbule of their vicious career—he could scarcely GA for them if they were new to crawl out pau pers. They would only reap the just harvest of their owe measures. But it was peculiarly hard upon him (er. G. Bennett) sal his friends, together with their areettedlese, that after having oppos ed the course of policy for 50 years past—hitting stood with their might against•the isOniaice and extraveigunmt of the late wars—having day after day, and night after dight.fur succeeding years, dorm all in Birk power co put a check to the exorbitant prodigality of the ex petditure—it was really hard that they were at last to be utterly ruined sad unclose by being compelled to ply double the amount that bad ever been lent to the Government. The law, indeed, compelled Inm to this—but the moral law ought to save him. He bad opposed the last French war throughout, and yet to pay double the expente of it, lie WPM to he pillaged of his whole property.— The question far the House was—would they recensider the case with a proper stew to all the interests of the country? Would they agree to put a cheek to this cancer of eoaBsca tioio ? Was there no dam which could be raised to repress so destructive a flood ? He knew that Ministers would be sited with punishment by posterity, and be hail hopes that lee shoild live to see the consorts of the House fall on them. It was true that if the questiuu were now put— " Is execution done on Carder yet ?" the answer would be— " The These of Cawder livete—a prosperous Gentleman!" Shit he doebted not het execution would be done upon them. He meant moral execution, end not literal. lie would vote for the motion of his Henonreble Friend. The subject ought to be re-cousidered. He allowed that it might be impossible new to repeal the Bill of 1819; he could never agree to give the Bank that dangerous power of inundating the country with paper money, though he felt convinced that if they were to be phsteged into • new war, and the Noble Lord mid Rt. Hun. Geol. held their places, they would again recur to the measures which were pursued in the war of 1801. The Right Hues. Genticlllllll shook his head. Ulm were to earnest let trim s& a pledge to the Regulation of Amendment to bind those pre sent not to consent to a recurrence to that measure. He confessed himself at a loss what to resolve on—he kuew sot how they were in recede or advance. Their condition was De stiaitested that ithom mewed to he safety iu nothing which they could do. Au ioquiry is the Committee might lead them to a recaecl),. • _ Mi. /aldermen nEvtATE exculpated the Government from any share of the respinislbllity in the measure of 1819. They bad cautioned the House against adopting it. the principle upon which it had been urged by the Member for Purtarlingturi, namely, that it would only cause a vacua. from of 5 per cent. had entirely failed. No one could say how tar priers had fallen—they might have declined 40 per cent. He thought that there was within unsafe te voting for the Committee, es it did not pledge the House to go back to the Issues of paper money—• measure which he should deem only inferior in enisehlet to the Bill of 1819. Many 'actives bad been thrown out un that Bill, some of which were deserved, others were not. He did not know what mould esiely he recomsweaded. Lowering the cote was rel% jectionable. iThe reigaseieme, which had always beim a farm'. rile scheme with him, was perhaps the most eligible; it world give the public creditor the currency Osier ancestors, and the country was only pledged to that degree of restoratiun. Kethiseght it would he very objectionable to cut off the public creditor from the advantage which he now enjoyed, after causing him to lend his money at a time whet' lie had perhaps little chance ofgetttng it back, and when it was well known that they ware to recur .t some time or ether to a metallic currency. He thought that if the House could have foreseen the consequences of the measure of 1819, nut the Measlier fur Pottsrlingion, nor all the philosopher', hareem and political tconomists in the world, backed with all the ellervirece, wit, reason, sarcasm, and isweettve, would Yf Millat to tempt throe to adopt it. He lamented that for Cho bet forty years, the country had been given tip to the schemes of philueopliere said theorists, what were all props esiim free trade at a time when all other nations were lay ing un redeems. lie regretted the great increase of pam phlets of four ur or five hundred pages, with which Gentle men carried on the war of dispute. He quoted several ex tracts from the Bullion Report of 1810, and among them one Inn which the unhappy tura of thought is which Priuce Reseeles found himself when he supposed that he wee appointed to the command of the wind and rain, and imagined himself re "eversible fur all the effects of storms and tempests—while, ie fact, lie hail so more to do with their control than his neighs boors. Even so it was, in his opinion, wit t the Bank Direct_ lora ever ',lnce 1810. They had been blamed fur till the ef fects of the Bullion Report, and the measures cousequeet, while they lied been quite encoauected with the tufluenragqg comics. He concluded by supporting the motion. Mr. GURNEY lied always been opposed to the metalline of 1819, and' comic! have nn objection to 3/I inquiry, to order to see how far it was possible to redeem the country without breaking faith or going back to a debased e•ereuey. Hg thought the House ought to be very cautions how they ventured un the •mendment, after harmg so grossly stultified. themselves with the legislation of the Rt. Hoe. Gent on 18111. , He thought that imead of withdrawing the email notes of the Bank of England from circulation, while they lel 'hole of country bankers remain out, they should first of all hive compelled the country bankers to withdraw their small cotes, emit the gold coin had got freely iato circulation, and then have called in the Bank of &wised Dotes. He bad nut muck hope of any goad result from the inquiries of the Committee, hut as a choice of evils be preferred that to the amendment of the Right Hon. Gestleataer (Mr. Headsmen). Mr. LF.STER deprecated any attack on the dividend". and any alteration of Mr. Pet I's Bill. But as he had not beard •ny 'newer gives to the argument of big Hon. Friend (Mr. Straiten) as to the relent of the alteration in the cu cy, l which that alteration ought to lie the scale by which the redectiood of the salutes. pensions, and other public charges ought to be re gulated, he should thertfure vote for going into the Comsails tee, with a view to the asceristelug of the extent of that al teration. Mr. HAI.DIMA ND said, the Hon. Member for F.asex ap peased to him to have considered only one side of the ques tionjor he seemed to think that no relief could be given to 'splashier', wiles" a constant depreciation of the currency was permitted to go on. He thought most of the complaints egaiust the. Batik ern unfueeded. It had been said that the I rank bad acted unfairly in coutrecting its issuer; but the fart was, that the Bask issues were equal new to what they I verse in 1817. As long as the Bank continued to pay its notes is gold, whether it issued twenty, or ten, or only lee million@ in piper, was a question with •hich the House had uuthing to do, nor could the Bank be charged with unfair. ores to the public un account of the extent of its issues. Thuse issues mast always be emulated by the public wants, end their • or deficteuty could never upetaie in raising or lowering the value of the curl rimy above one-half per cent. Mr. RICARDO said, as to the effect of the purchases of gold by the Itself upon the currency tie could entertain uo doubt. The only 'faculty was to P4(4.01161 what was the difference in the pikes of commuditica that had been caused by the Hill of 1819, which difference would be the amount of the itscri-sire w the valise of the currency. He could not twee with the Hun. Member who spoke last, in the opinion that the Beak was to be acquitted of all blame fur the sage oar ie which It had peutreedrd to miry that measure into effect. The Kill of the Right Hun. Gest. (Mr. Peel) pro titled that the Bank should nut be obliged to pay its sutra in coin pistil 1823, up to that period it was only requited In pay la Wilms to certain quantities, sad at eta taus Geed prices; end it was impossible to believe that the supply of geld in the hands of the Bank would rot have Bien authored I. met all the demands that might have been made we it for that purpose. tie amended that if the Batik had nut piematistely augmented its purchases, mud hunted on Its ripetationo, the return to cash.payaseuts at the preeciibed pi nod might have been effeeted with perfect ease, mud this co en ir y would have been spared much of the premiere atheism ens of the measure as it Isild true, as had been stated, 0 , been as large attics the paean - . They had barn smelt smaller; bid instead of being coal l ed, as they h.d been, they ought' rasher to have bees wreath in gold to flow ioo rapidly into the country. As he proceeded, ot e speech r. ho argument, Nef l he ur i ld fl e : l co w if ea ° ,: n l l " a si t PI : en. pr oposed ae : hvi ct g u elp al Hon.t csr p they ro ht tested t i e j t d ii nge d the r r. ! rise Member • t ould nut tihhoe Basesnes r epe a l exchanges,th e r ( n l i d i Mem ber v o d r . ohn . d ir t6 . , f . h . the a : m t u r syß cau s e d e • uiry v r.. iew tot to w s io e . ch ur a i n b a e li c e . r , a r i , i n o r O y . he g e w u o i n u th t ld h a r sot but entire, woe the at the wrong end, and that they uhgbt to have made the country barkers stop their issues of one.pound notes before they called upon the Bask of England to atop their. A r w * p a us b Er ' e i n do ‘ a ninlbou monstrousi tl w d oee e d.bl.trihittiaote obliged without to a t P e i np ▪ t i t di d t :it ta Puu s shbo h ei w i we:sees:brier:at:di' demandd g t h h it i d k 1 3 1 vc e e e o li al fue t I , l. t o bn ib e w: 3 :e B : : : a c i k : t s . Wight enlarge them, so as to reduce the vslee of the one poundtim s 'totes of the Bank of England. Could any thing be mane tut n o ' of the Y House, il"" t ? o bleiembucd bad the h • n i te r ; ' To e I b is i' b e u hj a er " be therefore felt it necessary to offer a few oliservatious in explanation of Isis peisousl opinions. An Hoe. Aldermau (Beygate) had that evetnaig dit as his (.Me. lt.'s) doc trine, that the alteration in the cm reecy produced by the that of nils l u B n l9 der i M i d j ia n g ot arese e from S sim P L Id i de lle pre w c h io o t lt ioti o .. l He world put a plait case in explanatiiiii. Suppose that se had only s metallic circulation, suit that the whole of the coiu bad bees clipped 10 per cent. Would that be a deprecia. lion of the rein, or would It not ? Hr thought it mutt be - allowed that it would. Nun, it was quite possible while the coat was is such a state of depreciation, that, from many of these circumstsnces which had heeu stat..l by the Honourable Member fur Ewe, gold might rise in price, or, in idler words, increase its value, sod that in sort. au . atria as ilot the sovereign which bad been clipped Its per cent. should cad un drEithei4t e i r ;l:l e n y a t o s e a f r i ° l e l i v : l u t u l e e i e n t e p h y r a i:ce b s o u l f e t gild i e l i l t d s was l e s r w i t t h h:e .i l e t ' : d i de He :o a f: it was the index of the value of the cerseory. He had said that if the difference between the mice of gold slid the value of the currency were only five per cent, itw n oo r o t t r i ;a ly stai es odn eee sagt:autgitirdey to raise the currency five per cent. order to raise it tie bpear ; and that the tU o o f n eo ly en e ss ffc it l iti o e f s five such a ore cent would still maintain was right. These were, eadonlitedly, many causes that might operate on the price of gold ; sad that be had at no time denied. What he *shim there. sited of the introduction of the Rill of 1419 was, that after else adoption of that liable to no more nor pester variations than it experienced before the Batik Suspension, or Ober in other countries, ex cept the S per cents which had been added to raise the standard to a par with the price of gold. It had never heon his meatsiug that there were not other venation of the currency that affected the price of gold, just as the prices of commodities themselves were acted I by tbe greater or less expense of their production, the ilffer ence of wraiono, and other causes. Woe it possible to deny that the distuirbed stale of the South American provinces for some time past may have impeded the iupply of gold to the European States? Would it he seppome. that he had either overlooked, or refuted to Omit that, and other MOWS And yet he had been chargesl saying, that after the adoption of the Bill of . 1010, gold would never again be liable to variation. The Niirt- Member then proceeded to read some calumets from a pamphlet which be bad publiahed fn the subject iu 1819, to shrive that et the lime that he was recommending the adoption of that manure; he had admitted the liability of gold to variatiou. Thia Meet extract seated, that "the variation to tibias gold and silver were liable was much greater than was generally supposed, and that, therefore, dory did not ferns an good a standard of value as might be desired; hat that, whik More metals continued to loins the standard, the currency ought to be made conformal'' , to them." The Drat extract" re comineuded to the Batik to pieced with caution is the redaction of its issues, and no, to buy up hellion;' addiae, that if he bed the mateigetuent of its strode hr would rather ' proceed boldly to sell " The plan, t licrefore, •hich belled ad. worsted hail nut been acted oar ; avid be had been made respon sible for that which hail been put ..execution. return to the general epseetioe, it did I/01 •I/I/E/11, to hove been at all frilly argued us shay premium. The !tank of &misted was a row. pally of merchants, uniloubtt illy of the first rank fur prutniy arid respectability of character, but understanding solids' at all of the fair and trite principles of currency, aid they had had the manageraint of this imminent proceeding, of regu lating the circulation, with s view to the resioratiun of rash. payments. The tummy under their inanagemeut bad been perpetually vacillatiag; it was never fixed, but varied back. wards and forwards. 1u 1813, the value of the one pound Bank note was 141. and no more, hut in 1819, and eves fir four years before ' the Bank hod by its operatives brought the currency bock to within 5 per cent. ot its nominal vaae. The irregular menagemest of the CU! refill proved the ne cessity of removing to some Axed siandard or other. if the price of gold had been much higher than the paper, if the difference had Bern as great as iu 1813, lee @humid have said that the most edvaullyttpus way would have brew to lkit the currency at 14.. Mit II having herr, brought within fire per cent. of its. ogiginal valise, they might have fixed it at that; heft as they gut so far back, it appeared 'then to be the wisest coarse, and be thought so still, to CO the whole Way, and restore the formrr standard ; and atter the efforts that had been already made, after what the country had already unstained in the .11(1,411 , 00r to atlases .that object, be thought it ought again to he altered. The Bank, if it had understood the maitre and prinriples of currency, aught have kept it at par. by regulating its stuck. Quantity reeritatee valve, sod the B oak had it in its power. to regulate the quantity of the circulative whe. thee in piper or in gold. While the ,lint was open for old t t wr o h o r ru f l o M rd : ce l i : P u ri t akeco u v p en were i t o a t h hl p e u h a e t e , p u i e a t C r li I l k p r o t t e i e rb e et; I c q u i on u ii i n t o r e e o i ds pu t i ig ; h i ßm rij o vvjfeeurbprlaitgrrblie;:; but a t i t ha t s i i k ii t till e value its Iwo scntielena in gold. It h it equally in its power to have kept bullion op to the Clint price, mud the 'orgies exchanges nearly at par. If he rightly enderatood the moseying of the Hon. Member for Essex (Mr. Western), re spect Mg the adoption of corn as the stmadard of valise, it way that as, on an average of year.', it was Imlde to less vans hnioond e tit to an v a ° r l y h t c h r e tausrd commoditie s, orii h e aue cu a ' s " f ' r . " a d s :h 1 e a e l :i re : e l: a t i b oe l e 7i r rie P e " u m f e eor ute u tsailldenc;oftr" a ra c c e t i a , u m e number concerned, o t c adhere ioien t r o t sal s. That a s :a p art:: o u r i r d n ded involveu t allhe ievalueaiborys:otorhni:tehhaneevierent which sudden alterations weir so likely to create. For, whenever the period arrived rat which the avenge was In be taken, the effect of that •reeige nozht lie a rid. or fall of len or Afters per cont. on all trohlraclo is the rover of one day. Ihe Honourable Member had gusted lock: and Adam Smith, to phew that corn was less variable iu value on an average of ten ye am than gold. Tro that poeitiou, Locke, Adam Smith, and the Hosonrable ip( M :r.r e iec tn imie, si b t e i:p r in:r: l i r od ; o n a s s o F, e to i ,frf ern y soil ;:eirenstezirresin)eti,yegtbusytviewh:hlyileice,hea therefore,o tb r me c ya s inetit f ::o, d iceim 'f: those prices was isvariable, is which case it was a more fixed standard than the core or it was variable, is which case it was impossible for them to any how far the tent itself 'night or might not have eir,,it with it. For his own port, he should be inclined to ronsidir corn a wore measure of pfi pnlnus Mtral,le. IM~Mece obliged, for the rat* PIP of their ewe mt ioii, to grow cone MI land of feriae piality, and consequently at a venter espenor of te e pital mot labour. im peter therefore to eumpeloale the grower, aired coati-queenly the value of each corn most he higher; and the same quaintly of curt, would pay for 81 °"' commodities than it woold before. the population hot so • minis iftereaseil. Here, therefore, • ors nee cause of a va riation is the valor of cora—athe "woods of topelatinn, which raised it in price. But it was also liable to venality* from every improvemeitt in aviculture, whether by a Pae' r ferable mud cheesier mode of unser, oe by the toleration Osat the mot.* of the Bask kiwi ui ' see " se " . " 1 " jo'orriemoaruu"rereolitrrofnotmuucrhut‘„e7;wto"'ee7tatlYitte7ttthe co" l e l I : of labour, all which tesoleal to 'educe tl.e ;pyre. 1 1.5 e Ing of the 8111 " the, were lu 1617 ' Menabrr satJ iliere •fte many tanks wbich orrard " - - aM de i lei ! , , 1