The Sun. — London, England, 1822-03-09 00:00:00

~ii~d 5 " ~4 ,1,4,1' judz. His could cot,- )r. r / f ~, f r I,LV NUMBER 9216.1 /,0 / y - OFFICE OF ORDNANCE, Marc 46, 1822. "p i HE PRINCIPAL OFFICERS of his M JESTY'S ORDNANCE do hereby give Notice, that they will Sell by PUBLIC AUCTION, at the Tower, on Monday, the 11th, and . Tuesday, the 12th March, in stant, Eleven o'Clock in the Forenoon precisely, sundry Lots of NEW and OLD STORES; consisting, of Artificers' Tools and Spikes, Tarpaulins, Canvas, and Tents, Blocks, Sadlery Articles, Horse and Mule Shoes and Nails, Copper and other Metals, Tarred' and White Rope and Junk; The whole of which may be viewed upon applicatiOn at the principal Storekeeper's Office in the Tower, and at the Poyal Arsenal, Woolwich, until the Day of Sale: where printed ,Lists of the Lots will be delivered to those Per 401u who may apply for the same. By Order of the Board, R. H. CREW, Secretary. N.H. Tie Article of Cast Iron, advertised before, teas in • - scrtedin.the Advertisement by Mistake. DEPTFORD VICTUALLING-YARD, Feb. 22, 1822. T HESE are to give Notice, That on Tharsday, - the 14e4 of next lilonth"(.llarch), at Ten o'Clock in the Forenoon, will he exposed to PUBLIC SALE, at His 11Iajesty's Victualling Yard, at Deptford, sundry Lots of the following Unserviceable Stores, now lying in the said Yard, viz.:— Bread, Bread Dust, Flour, Flour Sweepings, Raisins, Rice, Pease, Pease Screenings, Oatmeal and Sweepings, Bakehouse Sweepings, Preserved Meats, Bags and Rags, Sacks; Beef, Pork, Suet., Sugar, Butter, Cheese, ',eager, Butt, Pun cheon, Hogshead, Barrel, Half-Hogshead, Kilderkin, Small Cask, Irish Barrel, Wine Pipe, c 1 Rum Puncheon Staves, Old Timber, Iron, &c. &c. and Boards Ends. 4 Deposit of 251. per cent. is to be made upon the amount of each Let at the time of Sale, and the remainder of the pur chase-money to be paid before:the Stores are removed, for which parpose a period offourteen working days will be allowed from the day of Sale the Buyers particularly observing 'hat not leis than one half of the quantity is to he taken away within the first seven days, and the remainder in the seven following days, otherwise the Deposit Money wall be foiftited, and the Provisions or Stores remain the property of the Crown as no extension of time will, on any account , be granted. The Provisions and Stores may be viewed during the work ing hours of the' Yard, on the three days immediately preced ing the day of Sale. Catalogues may be had on application at the said Yard. ; IMPROVEMENTS IN SAIL-CLOTH. FIIE PROPRIETORS .of the ANTI_ MILDEW PROCESS have to announce the follow ing additional Testimonial : Messrs. BROWEL T . and Co. _Feb. 14, 1822. I have the satisfaction tniinform you I hare had afore-top: mast's stay-sail made of unbleached canvas, prepared by yon, on board the Latona, from London to Shields, during the last four months, in which I experienced very heavy gales of 'wind, the sail being wet and dry, and often confined in the net, and has no appearance of Mildew. JAM ES• PATERSON. , This is to certify, that the above sail was made by us of Broweil and Co.'s prepared,canva., and that we have this day examined it, and it has no appearance of Mildew. WALKER and HENWOOD, Feb. 14, 1822. S a il-Makers, Limehouse Hole. the Process is equally applicable to the whitest and dearest as well as to the brownest and cheapest Canvas. It does not. in the least diminish the strength, but improves the colour and softness of texture in all. It is effected in a few days, for Five Shillings per Bolt, and is returned, when sent to them, to all parts of the town without expense, the same breadth and length as when received. A red Crown and B, or the w•rela Anti-Mildew," are,marked in various places to spew that the Bolt has undergone Browell and Co.'s Process.— Sail-Cloth of various qualities, which have undergone the Process, may be had at the following houses, viz. Messrs. . - Chalmers and Guthrie, 9, Idol-lane ; George Brown, 53, 33road-street,.. Ratcliff; Peter Walker and Co. 310, and liewens, 276, Wapping; and Walker and Henwood, Lime house Hole. To Sail in a fe‘ , . Days, direct For VAN DIEMEN'S LAND and"NEW SOUTH .WA LES', THE line fast-sailing new-coppered SHIP WILLIAM SHAND, A. I, ALEX ANDEK KENN; Commander, Burden 284 Tons, lying in the London Dock. Has ex cellent accommodations for Cabin and Steer- age I'assengers. Fur which or for Freight, apply to BUCKLES, BAG STER and BUCHANAN, 33, Mark-lane. PUBLICATIONS. !In the Press, and speedily will be published, By JAMES CAWTHORN, Cocksourtstreet, ITINERARY of PROVENCE and the RHONE, accompanied by Etchings. By JOHN HUGHES, Esq. A.M. of Oriel College, Oxford. • 'nisiDay was Published, With a.beautiful Frontispiece, price 6s. the 4th Edition of "'FETTERS on the IMPORTANCE, DUTY, JILA and ADVANTAGES of EARLY RISING, addressed to Heads of Families, the Man of Business, the Lover of Na . - ture, the Student, and the Christian. Printed for Taylor and Hessey, 93, Fleetstreet. " We cannot afford any more space for remarks on this lit tle interesting and useful Volume; hut we should fail in our duty to the public, if we did not recommend every parent to make it one of the lecture-hooks of his little family •, and if he happen to have no time for the perusal of it himself, as his day is at present laid out, we can assure him that it will am ply reward the effort, if he rises two hours earlier on the first morning after he has procured the book, to study and digest its contents."—British Review, March 1822. This Day were published, in Octavo, Volumes Thirteenth and Fourteenth, price 11. I s. or on Royal paper, 11. Bs. in boards, of THE WORKS of the late Right Honourable EDMUND BURKE, containing Speeches in West minster Hall on the Impeachment of Warren Hastings, Esq. ; together with the Report from the Committee to Inspect the Lords' Journals, and au Appendix. To which is prefixed, an Introduction addressed to Lord Viscount Milton, By the Bishop of ROCHESTER. Printed for F. C. and J. Rivington, No. 3, Waterloo place, Pall-mall; and No. 62, St. Paul's Church-yard. To Sail this Month, direct FOR .CALCUTTA, THE remarkably fine new SHIP LOTUS, A. 1, I. R. F. DOVETON, Corn wander, Burthen 600 Tons. Lying in the F"-- •Vt City Canal. Has excellent accown;odations for Passengers, and carries a Surgeon. For Freight or Passage, apply to Messrs. BAZETT, FAR QUHAR, CRAWFORD. and Co., No. 71, Old Broad l street; or to BUCKLES, BAGSTER, and BUCHANAN, 33, Mark lane. Of whom- may be had, The Twelve First Volumes, in Octavo, price 51. 14s. in . Loards. Vols. 9, mid 10 may be bad separately, price 11. Is: to complete sets. Also, Vols. 11, and 12, at the same price. *** Two more Volumes, whiCh are now in preparation, will complete the Works. The LIFE and LETTERS are also preparing for publi cation. RIVINGTON'S ANNUAL REGISTER. COmmencing with his Present Majesty's Reign. Phis Day was published, In One very large Volume, Octavo. price 18s. in boards, THE ANNUAL REGISTER ; or, a View of the History, Politics, ands Literature, for the Year 1820. Including a Sketch of the Character of his late Majesty. Printed for F. C. and .T. Rivington, 62, St. Paul's Church yard, and 3, Waterloo- place, Pall Mall. *** The Arrangement of the Miscellaneous Part of this Volume differs in some decree from that of former Volumes.' The Extracts from Books have been abridged, and a new De- Partaient introduced, entitled " Literary and Philosophical Miscellany ;" consisting principally of Facts connected with the History of Science and Letters for the Year. A List of Books and Pamphlets,. published in 1820, classed under the different Heads, is also added. A Regular Trader.—TO Sail next Month, - For BOMBAY, \ . With leave to call at Madeira, i ...P— ss „ .. THE well-known, fast-sailing, cop \s,---Wz pered SHIP BOMBAY MERCHANT, A. 1, _ .., b kprik ,\. \ JOHN CLARKS . ON, Commander, Borthen ... ...4 .. , a , 432 tons, lying in the City Canal. Has ex cellent Accommodations for Passengers, and carries a Surgeon For Freight or Passage apply to the Commander, at No. 3, ropthall-Imildings ; to 'Messrs. BAZETT, FARQUHAR, CRAUFORD, and .Co. No. 71, Old 13road-street ; or to BUCKLES, BAGSTER, and BUCHANAN, 33, Mark Lane. NEXT THURSDAY. MARTIN and Co. 8 , Cornhill, and 120, Ox f ford•street, respectfully acquaint the Public, the NEXT DAY of DRAWING will be THURSDAY, the Pith of This Month Qlarch) ; when the FiT9t Drawn Prize will re ceive 20,000. STATE OF THE WHEEL. 4 .. of ..A:206000 7 .. of .. 500 6 of .. 300 Tickets and Shares, warn MARTIN and Co.; who Sold, L 40,000.. for ious Rh- man de- tins s of it of were and very Lines .......•••• ( All7=~. short Esq.,. Dela- SIM. it 3 ~ of .472,000 4 .. of .. 1,000 32 .. of .. 200, &c. pied Undrawn, are Selling; by' in Shares, 100. 261, a Prize of Is catered out at the Custom-House, and will follow the . Hooghly. with all dispatch, direct FOR VALPARAISO, r" , 1 / 4‘.. THE fine fast-sailing new-coppered BRIG ZEALOUS, A. I. FRANCIS REED, A L ,... Commander. Burthen 198 ions, lying in i....:lii‘. the London Dock. Has good accommoda ,a. lions for Passengers. For Freight. or Papage, apply to Messrs. JOSEPH MAII , B.Y.AT and SON, LiiivrencePountney-lane ; or to BUCKLES, BAGSTER, and BUCHANAN, 33, Mark-lan., . -.-... . PARLIA_MENT. DOUSE OF LORDS, FnIDAv, MARCH 8. Mr. WOODFORD, from the Treasury, present ed an Estimate of the amount of all Taxes re pealed and imposed since the termination of the late war, and of their annual produce,--Laid on the,table. The Transfer in Aids' Bill, the Exchequer Bills' Bill, and the Sugar and Tobacco Duties Bill, were read a third time, and passed. IMITATION COFFEE. The Marquis of LANSDOWNE rose to move for some accounts which he would not press upon the House, if they were objected to by the Noble Earl opposite, as he had given no notice of his motion. It was for returns of the prosecutions .instituted by the Board of Excise against per sons who sold Breakfast Powder, and other sub stances, which had been considered as interfer-. ing with the sale of coffee. He was not ac quainted with all the particulars of the case, but he knew that the sale of every article of food which was sound and good, was under the protection of the law, and the Commissioners of Excise would be abusing the powers with which they were intrusted, if they stretched their ope rations to article which were not prohibited. If roasted wheat were brought into use as cheap and wholesome food for the poor, instead of being an evil which Parliament should wish to remedy, it ought to be considered an advantage which it would be wise to promote. A great constitutional -principle was besides involved in the matter. For if the Commissioners of Excise took upon themselves to prohibit the use of ar ticles which the law did not reach, the enacting power of that House and of Parliament was, de facto, transferred into their hands. He conclud ed by moving for copies of certain instructions given by the Cgmmissioners of Excise to their officers respecting the seizure of roasted wheat and other substances sold under the name of " breakfast powders," or any other name, and of the prosecutions instituted thereon.—Ordered. IRELAND. The Earl of LIVERPOOL, in moving the third reading of the Irish Seizure of Arms Indemnity Bill, said, that Act, authorising the seizure of arms in Ireland, had expired during the re cess, last August, and that in consequence of circumstances which were notorious to all, it had been found indispensable to act upon its provi sions as if they were still in force. The present Bill was therefore necessarily brought in to in demnify those who had so acted. Lord HOLLAND wished to call the attention of the House to the nature of the measures now passing. Their object was nothing less than this—to disarm the whole people of Ireland. Thay were repugnant to the idea of a free Con stitution and to the laws of the country: In giv ing, as he supposed they would give, their con sent to these measures, their Lordships must feel that they bad neglected to place Ireland in that state in which she could enjoy that Constitution which the Union had entitled her to expect.— lie did not mean to oppose the present Bill, but he could not withhold the observations which he had made, as he was desirous that the country should see that Parliament had not passed such measures without being aware of their nature. The Bill was then read a third time and 'passed, as well as the Irish Arms and Gun powder Importation Bill. The LORD CHANCELLOR regretted to' state, that he had received a note fronia Noble Earl ~:, ,ti , I.t ,.l l4ositfri , A •,...-' *7 e- -- "' e: , t _ -- ' - -- -- --t-- s' , '4 e t"C „ -,,..,0, 4 ..... ---._- 1 ..1 ft ' q.,,.. ' r ... ~. - 11.11„ 0 , ---' 0 ' 4, '--:. - - 14: '' Zl', :a . i , et ~. .ic , tFit 'A 4 1 _.., , ~,irr,i,,,_ • '§',..\. 0 . ki . ' fr a • ~ .4' A,. i A il esi't'' / LAG- k_ -, I ~ %., SATURDAY, MARCH 9, 1822. (the Earl of Blesinton), who had given notice of a motion for the Registration of Deeds in Ire land, informing him that indisposition . made it impossible for him to attend. The Attornies and Solicitors' Act Amendment kill was - read a second time.—Adjourned till Monday. HOUSE OF COMMONS. MISCELLANEOUS. Lord STANLEY presented a petition from the Owners and Occupiers of Land, in the Hundred of Moulderness, in the county of Lancaster, complaining of Agric4itural Distress. — Referred to the Agricultural Committee. Mr. DAVENPORT presvited aTctition from Macclpsfield, complaining of itinerant Hawkers and Pedlars being allowed to go about to fairs, thereby injuring regular traders and dealas.— Ordered to be printed.. Mr. KENNEDY brought in a Bill for regulating Juries in criminal causes in.Scorland.—Read a-first.time, and ordered for a second reading on Friday next. Mr. P. LEWIS gave notice, that on Wednesday next, he should move for leave to bring in a Bill to amend the:laws, rela tive to Turnpike Roads.. EDINBURGH POLICE BILL Mr. ABERCROMBIE presented a petition, signed by 5,000 inhabitants of the City of Edinburgh. against the Bills before tile House, for regulating the Police 'of that city.— Arnongvt . these were the names of individuals known tq all per sons, as belonging to men of the highest respectability, educa tion, and talent ; and these were in unison with the great body of the inhabitants. He had had•the honour of proposing another Bill upon the same subject, which met with the uni versal support of those whom it concerned, while the Bill brought in by the Learned Lord opposite met with general execration. Mr. W. DUNDAS only wished that the two measures should be compared, and that the House should sitspend its judgment until they were duly examined by a. Com mittee. • The petition was laid on the table. Mr. ABERCROMBIE presented a similax petition from the Company of Merchants of the City of Edinburgh. ' Sir J. NEWPORT said, that the subject deserved the at tention of the House. _ _ Mr. DUNDAS•said, that the allegations contained in the petition were merely assertions, and that the Right Hon. Ba ronet seemed to think that enough to call upon the House to act, without further examination. _ . . Sir R. FERGUSSON said, that the contents of the petition was not merely assertion for one chief officer of police had al ready been convicted of fraud. ...Mr. HUME spoke againgt the Bill in support of the Peti tion. The Right Hon. Gentleman had called those who op posed his system, Gentlemen Radicals : for his own part, he would rather be a Gentleman Radical than a Gentleman Col.- ruptionist. The LORD ADVOCATE said, that from the manner in which Hon. Members opposite had diScussed the question, it would appear that the Bill in question had for its object the management of the public funds. Its only object was the im portant one of giving to the city of Edinburgh an efficient Po lice. For the last ten years the Police had been maintained in a state which was not surpassed by any other in the kingdom. Daring that time no crimes had remained undetected, and yet no severities of domestic interruption had been resorted to.— With regard to the , Officer alluded' to, the charges had been twice investigated, and as often had he been'acquitted. He had made these observations to put the House in 'possession of the facts of the case. . Lord A. HAMILTON wished the House to examine the Bills in question narrowly, and not suffer the interests of a whole city to be overborne by a junto of self-elected Magis trates. The Officer who had been alluded to had confessed that he signed false accounts, and he would ask die House whether this Was not milversation of office ?, Mr. ABERCROMBIE explained. Mr. S. WORTLEY said, he thought it desirable that some agreement should take place between the two parties. Mr. KENNEDY supported the Petition. The Petition was ordered to lie on the table. A Messige from the Lords announced that their Lordships had agreed to the Importation of Arms in Ireland Bill, and. se veral others. Mr. KENNEDY presented another Petition a. nainst the above Bill, from the Inhabitant Householders of the eight southern district of the City of Edinburgh. Also a similar Petition from Clerks of Advocates in the same City.—Refer red to the Committee upon the Bill. Sir R. FERGUSSON presented a Petition to the same effect from about forty Advocate§ of the Scottish Bar.—Referred to the Committee. _ _ . Also a similar Petition from the incorporated trades of Tai.. lors in the same city.—Referred to the. Committee. Mr. BARRETT presented a similar Petition from another of the incorporated trades o? the same city. Referred to the Committee. ....... Lord A. HAMILTON addressed a few observations across the table to the Lord Advocate,which, together with the answer of the Learned Lord, were inaudible in the gallery. The sub ject was understood to be, a complaint that tne Lord Advocate had brought in a Bill not corresponding to the notice which he had given of it. Mr. S. RICE said, that in an early, part of the Session he had given notice of a motion for the repeal of the Window Tax. But as an Hon. Member on the other side of the House had taken up the subject, he should be happy to leave it to come from such a quarter. If any assistance which he could render to the Hon. Gentleman would be acceptable, he should render it with great pleasure. In order to clear the subject as much as possible, he should now move for returns of all taxes repeal ed in England within the last ten years,- and for corresponding returns for Ireland. Also for a return of the amount of Malt Duties collected in Ireland within the last ten years, together with an account of duties collected upon retail of Spirits Li censes.—Agreed to. Mr. LENNARD gave notice of a motion, which was not audible in the gallery. He wished also to ask the Right Hon. Gentleman opposite when the House were likely to be in pos session of the printed evidence taken before the Commissioners for inquiry into the state of llchester Gaol. Mr. PEEL observed, that if the Right Hon. Gentleman ad dressed himself to him, he was not the person to give him the information he required. The evidence had been ordered by the lictise to be printed, and the Clerk would best inform the Honourable Member how far that order had been carried into execution. BANK OF IRELAND. Mr. MABERLY said, that as an important operation was about to be effected, in reducing the rate of interest upon a portion of the debt, from five to four per cent., he withed to move for certain returns to shew the amount of remuneration allowed to the Bank of Ireland for the management of the pub lic debt. After some observations, in which the Hon. Member contrasted the allowances made to the Banks`of England and Ireland, he was understood to infer that the latter was re munerated at the rate of 20001. for every million, while to the farmer only 3401. was allowed. He moved for the " Return of Accounts shewing the total amount of debt due to the Bank of Ireland, funded or unfunded, the time when contracted, the rate of interest thereupon, and the variations in the rate of in terest, with the dates When such variations took place, and what is the rate of interest now paid." Mr. GURNEY made an observation, which was inaudible in the Galleryi Mr. GRENFELL said, that from what he understood, so far from the Bank of Ireland receiving 20001. per million, they actually received nothing at all. He stated this on the autho rity of accounts which were returned`to the House after being moved for by him in a former year. His motion was dated the sth of May, 1818, and was for an account of the amount of all sums paid and payable to the Bank of Ireland for the ma nagement of the public debt. The return was, that no such sums were charged, or were payable to the Bank of Ireland. Sir J. NEWPORT stated that at the renewal of the charter of the Bank of Ireland in 1808; the Bank lent to the public one million at an interest of five per cent., and upon those con ditions engaged to manage the public debt gratis. If the con duct of the two Banks were to be put in competition, all the cir cumstances attending these transactions ought to be placed in view. He never considered at the time this arrangement was made, that it was an adequate remuneration to the Bank. Mr. PIERSE began by expressing the high respect which he entertained towards the Bank of Ireland. - He could not but remark upon the repeated attacks upon the •Bank of Eng land Directors, whichhad been carried on by an Hon. Mem ber, who spoke last but one, in a manner which he must say was highly unbecoming, as applied to . individuals of their character. Ile now wished to make it appear, that -they.. were overcharging the country for the management of tlig public debt, whilst the Bank of Ireland. w a s doin g it for nothing. This was nothing more than-an evasion of • terms; for if the terms granted to the Bank' of -Ireland were coasidered, they would be found to make a difference between the allow ances to the two Banks, equal to that stated by the Honour able Member for Abingdon. .It mattered not whether.a spe cific equivalent was thte remuneration, or an inerca.sed rate of interest; the value was the -same. If the same conditions had been larante, to the Bank of England as to the -Bank of Ireland, instead of a remuneration of 3001. or 3401., it would also have been receiving at the rate of 200tH. per million. It ought to be recollected that the Bank of England had advanced four minions at three per cent., while the Bank -of Ireland Made their terms when they advanced the million in question. He was surprised that these confident assertions should come from a quarter where there _ could be no excuse for them upon the ground of ignorance. If any Hon. Member had made them who-had not paid much attention to the subject, he should not have been,surprised. If, for instance, the Hon. Member for Aberdeen, who was in. the constant habit of making takes, and who made so strange a mistatement regarding the Bank the other night, had said these things, he should have.un derstood it quite well but he could not conceive how they could come from the Hon. Member for Penryn, who devoted so- much of his life to the subject. He had felt it necessary' to make these observations, not for his own interest—( Hear, bear !)—becauSe he had barely his qualifications as a Director in Bank Stock. • He never, during the 35 years that he had been a Director, had changed his stock out of 'motives - of Hea ia hear !) —From 'this 'circumstance himself, as well as other Hon. Directors, had lost many thousands. Whe ther the Hon. Member for Partarlington thought the'Directors -had abilities to manage' their concerns or not, was a matter of little care to him : he knew that he would much r a ther t a k e th e opinion of a number of Bank Proprietors than that of- our mo dern philosophers.—(Hear, hear !)---He thought that if th e new political economists bad constituted the majority of the Bank Directors, its.transactions would not have been attended with the success which had resulted from them. The business - .of the Bank was not to be conducted by theories and specula tions.—(Hear, hear, hear!)--Ile would say—and he thought he should be borne out in it by the House, that the Bank Di rectors had pursued a line of coriduct at all times strictly ho nourable.--(Hear, hear.!)—He would say more ;—during the late long and arduous war, the Bank of England supported the credit of this, as well as of .other countries, through all the • storms which threatened them. Ile was informed that upon the Continent the Bank of England was never spoken of but in the highest. terms of admiration for its good faith in ho nourably fulfilling all its:engagements. • Mr. RICARDO gave every credit to the Bank Directors for their personal exertions ; but he thought that the Bank Re striction Act of 1797 might, by proper Management, have been made beneficial to the country. The injudicious issue of paper had 'caused the national calamities ; and . the - subsequent inju fi - dicious purchase.of gold had been attended with much incon.: venience.• He really thought the Bank Directors had not - known what they had been about ; but' at the present watanot a motion inviting - the discussion of the subject, he would merely state his wish that a proper opportunity would be afforded for an in quirY, • the result of winch he • bad no doubt would • prove the correctness of what he had stated. . . Mr. H. GURNEY spoke. a few words, which could not be heard; after which-Mr, ManEar.EY.shortly explained. • Mr. IIIONCK could not agree with his Honourable Friend (Mr. Ricardo), in his belief that the Bank Directors had not known what they had been about.' They had, rained vesry con siderably by,the Bank Restriction Act, and had, during the war, increased their issues from Bto 30,000,0001. Their paper had depreciated transactions, and with respect to com modity had fallen, he believed, not less than 50 per ccnt.t— Government were now paying in full a loan borrowed in a de preciated and almost worthless paper currency. The Bank Stock had increased from 120 to 280 per cent. independent of large bonuses .Which its -Proprietors had, received ; and, alto gether, it was his opinion that no other Company in the uni verse had made such extensive profits as the Bank. Mr. T. WILSON begged to remind the Hon. Gentleman opposite' that the excess of paper he had mentioned had in creased the price of corn, and consequently the amount of rents.. It was not to be supposed that all the profits of the war had' fallen to the lot of Bank Proprietors. Mr. MANNING said, that the Bank had been prepared to resume its paymentS in cash during the war, but that such a resumption was considered as injurious to public policy. Mr. GRENFELL - , Sliding that he had been personally al luded to, could not forbear offering a few observations to the House. He was perfectly aware of the fact alluded to by the Hon. Director (Mr. Pierce), but he thought one improvident bargain did not excuse another. He begged to disclaim all personal feelings .towards the Directors of the Bank ; but to him- it was.. clear that the .plan alluded 'to - bad occasioned im mense profits to' that Establishment. He had, as a proprietor hiniself, participated in those profits. From the year 1797 their ostensible profit had been not less than 7 per cent. Their property had ' inereased 30 millions .in value since the war Of 1790, and the stock of himself and, of every proprietor had been proportionably ' benefitted by that increase.. Of this fact he challenged .a denial. Those connected with the bank were in variably talking of 'the . public services rendered by the bank during the, war. • It was true they were alviays ready to ad vance money-to -the Government ; but so 'great was the amount of the profits they 'derived during the restriction upon cash pay ments, that it seas perfectly , idle to talk of their having rendered a service to any one but themselves. The lion. Member (Mr. M.) had talked' of their readiness to pay in cash ; but in their memorable report, - professing their readiness, they had taken care to "hint 'at the prudence of the restriction. He (Mr. (171 t) had always voted against the continuance of the Bank Re- Striction•Act, but had never found a Bank -Director in that House to vote,with him.' He repeated that, in his opinion, it was a inoCkery to say that they had been desirous to ray in cash during the war, or to talk of their services to the Conn try: . . The Motion was then put and agreed to. Mr. SYKES gave notice, that on Monday next he should move fof leave to bring in a Bill to repeal the duty on Tallow Candles. Mi. BERNAL begged to ask the Noble Marquis whether he was yet enabled to give the House any information respect ing the Russian Tariff? The Marquis of LONDONDERRY said, he was not ; the last official intelligence he.. had received on that subject came down no later than the 30th ofJanuary. - Sir J. NEWPORT moved for a Return of the Imports and Exhorts, and of the Irish Shipping employed about the same, during the years 1820 and 1821.—Ordered. N. NAVY FIVE PER CENTS BILL. Mr. LUSIIINGTON moved the Order of the Day for the further consideration of the Report of the Navy Five per Cents, which being accordingly read, Mr. LUSHINGTON then moved that the Bill be recom mitted. Mr. TIERNEY said, he could see no reason why they should not then proceed with the Report. He had some ob servations to make on the subject, and was then willing to pro ceed. • LUSHINGTON said he felt unwilling, to lake the business on himself, in the absence of the Chancellor of the Exchequer ; but if it was the pleasure of the House, he would go on. . sir. TIERNEY said that he had some suggestions to offer on the claUses of the Bill, which could not be so well dis cussed in a Committee. Ile was very sorry to give' any in terruption to the progress of the business, but a sense of duty compelled him to trouble the House with a statement of his reasons for objecting to some clauses in the Bill. He regretted that the Right Ho.? the Chancellor of the Exche quer was not in the House. There was one objection to the Bill, which was started by an Hon. and Learned Gentleman, and which had not certainly occurred to himself before. That objection was , with respect to the power which the Par liament had, by the Act of 1797, over the Five per- Cents in the way of reducing the interest, or paying them off, until 55,000,0001. of the National Debt had been redeemed.— That objection did not occur to himself ; but he eonfewei that, since it was starred; the more he considered it s the more doubt and difficulty he felt in coming to any decision on it. The Act of 1797 had filde provision for different kinds of stock. It provided for some in the Three per cents, some in ,the Four per Cents, and fur some in the Five per Cents. By that Act the 3 and 4 per Cents might be at any time re deemed, but the five per Cents were not to be paid' off until 55,000,0001. of the National Debt had been first redeemed and paid off'. He was not able to give any opinion on th4t point himself, but he would suggest it to the consideration of the House, ,by whom it ought to be noticed, and not passed PRICE SEVENPENCt. by sub •silentio. In considering the enactments . of that Bill, he was well aware it would be contended, in reply to that ob. jection, that .E much larger stun had been redeemed and paid off since that- period. He was aware that the Sums redeemed by the Cdinmissioners for redeeming the National Debt would be said to be paid off'; • but the surer standing in the 'names of the Commissioners 'mild not be said to be paid off.. they were paid off, they world be at the disposal of : Parliiinent. But the Debt redeemed by the Com Missioners. was not; he ap prehended, at the disposal of Parliament, within the spirit and Meaning of the Act of 1797, Th e wor d s " paid- OW .struck him the more, because he could not call the stock redeerhed by the Commissioners " paid. off." He admitted that he had no distinct knowledge of that objection, but he was of Opinion that the House ought to explain it. But the plan proposed for pay. , •ing off the holders of that stock was objectionable on different grounds. In Sir. Pelham's time, wnoin the'Right HOn. th e Chancellor of the Exch e q uer professed to imitate, the holders of the stock which he wished to r e d uce h a d th e c h o i ce o f b e i ng paid off accordlng to the aereemmt originally made a t th e creating of that stock. Th e Right Hon. Gentleman then. went into a history of that transaction, and contended that no holder was then paid off but according to the terms of the original agreement. He himself would give no opinion upon tLe e prin ciple of the plan, for he had none to g i ve . H e did not w i s h any observations he could niake to excite any false hopes tin Jog', the country, but .he thought the House should consider it. But it was absurd to compare the present plan with-the plan of-Mr. Pelham. He had adverted to the .history of that trans action, and he found nothing more dis Similar. -It was sug gested in the King's Speech to his Parliament that they should be watchful to improve any opportunity of putting the National Debt into a method of being reduced, with a strict • regard . to public . faith and private, property. • 'the Ad dress of the House was, of course, a re-echo of the . King's Speech. Mr. Pelham soon after brought in his Bill, which held out no threat, no compulsion, but even invited the hold ers to a choice of taking their money .or the new 'stock at the reduced interest. He proposed that those who were holders of the 4 per Cent. should, if they thought proper to assent to the plan, have 4 per Cent. for one year; which was 1750, and should have 3 i l per Cent for seven years after— namely, to 1757, their stock to be irredeemable during that pe riod ; but they were to have only 3 per Cent. from 1757 out. Mr. Pelham made the proposal to the holders to that effect, without compulsion or threat ; • and by giving_ seven years until he should come to the reduced rate of interest, Mr. Pelham meant to let down the holders as easily as possible from the high rate of interest, which was very. different from the plan pro-. posed by the Right Hon. Gentlethan. He, however, - did not mean to say that the Right Hon. Gentleman was doing any thing illegal. All persons purchasing in the . 5 per Cents. should have known that that stock was liable t.) redemption ; but, not. withstanding that, he could not hut regret the situation in which they were placed, in respect to the short period which was to be given them to make a choice. - Mr.. Pelham gave three months to the holders of the 4 per Cents. in.hiS time, to consider whether they would assent to his proposal or not. A t the end of that period, a large proportion of the holders came in and assented, but the large companies (the South Sea Corn. parry and the East India Company) still held out. To those Hr. Pelham said that it - was not right they should have the same advantages as those who declared their 'assent in time.— He accordingly refused them the same time which he gave the other holders, and he allowed _them but five years' notice of being paid off. But the Chancellor of the Exchequer; acting in a very different manner, gave notice, that if the holders did not signify their dissent within Di days, he would considek them to have assented. The Right Hon. Gentleman told them that they might dissent if they would, within-that time, but; if they were not within that time, they were to be taken to have assented— .(Hear hear); which certainly app ea red to him a very s t ra ng e method of proceeding. lie (Mr. Tierney) was as anxious as any man for reducing the interest of the debt,.if it would lead to a diminution of the burdens of the country. He had the same interest in reducing the interest of the Public Debt as any other; but he thought that they should act With justice in bringing about that event. The Right • Honourable Gentle. man the Chanceirear of the Exchequer proposed "frat " every holder must give -a direct answer on or before the 16th of the present month ;". and he adds, " if you don't say 4 No,' within that tine, you are to be considered to say ' Aye.' " (Hear, hear, and a laugh.)--But there was another clause in the Bill, with regard to Ireland, more etraordiiii.ry than the clause he. was commenting on. The clause. stated that per. sons possessed of debentities there might :be at liberty to convert them into 5 per Cent. Annuities; and if they did not within the time limited signify their dissent, ' they were pre sumed to take the 4 per Cents. Such a case no one ever heard. A man who held only a debenture, and no. snick at all, would have his debenture cancelled, and 'be obliged to take the re duced interest. But the strongest objection, and the most seri ous grievance which all Telt, was the new mode o compelling the assent of the holders. Some Gentlemen- - in that House were in, the habit of complimenting the Chancellor. of the Ex chequer en his dexterity. If any praise was due to the Right lion. Gentlernai4 certainly it wes not on the score of financial arrangements or money transactions.. • Bait iii twelve days those who - dissented were required to give their answer.. Some per. sons were so ready and se' convers a nt i n non e transactions, that they would reqUire very little • tithe - to make up their minds. • But the greater part of the holders of tha,Lstock could not so readily come to a determination. A poor person, who had an annuity of 1001 , or 2001,; or 2501., was, to lose one. fifth of that sum before he could determine Wheilier it would be more advisable to assent or dis Sent. Ile ivoirid endeavour to show sufficient reason for granting more. time, always as. sliming, on the part- of that Horse, - - that "the . f. meant to act fairly, and that it was not intended to take any onQby surprise; for, if that was not intended, time enough migbybe afforded. Who could. say what would be the result of the reported die. ferences between the Coon of Petersbrirgh and the Ottoman Porte ? Ile would' call-their attention to 014 part of his Ma jesty's Speech which adverted to his interferetcein those dif. ferences, and his hopes that . he could bring then to an amica ble adjustment. In the very first paragraph, of 11;s. Majesty's Speech he addressed his Parliament thus " I have the satisfaction of informing you that f continue to receive from Foreign Powers the 'strongest assurances of their friendly dispositions towards this country. " It is impossible for me - not to feel deeply interested in any event that may have a tendency to disturb .the peace of Europe. My .endeavours have therefore been directed, in conjunction with my Allies, to . ..the. settlement of the differ ences which have unfortunately . arisen between the Court of St. Petersburgh and the -Ottoman Porte ; and I have reason to entertain hopes that . these diffcrenceS will be satisfactorily adjusted." Thus it was clear there were some differences, and that there wes a negotiation on foot for the adjUstment of those differences. All knew what effect that' eircumStantehad on the funds. In the midst of that negotiation two months should be granted in order to know the. result of these negotiations. Ile meant no. thing disrespectful to, any person, but unless time were given, the thing seemed no better than swintiling. If no injury could result from-the delay, he could not conceive the cause of hurry. ing the Bill.. It could,not.be denied also, that the operation of the Sinking rand had no inthience on the stocks. But the mode of operation by that tines not yet known. When the Noble Lord (Londonderry) was asked what he meant by the pre. sent Sinking Fund,- the Noble Lord replied he would answer when that Bill was Passed.—(llear, hear !)—Did the Noble Marquis mean to adhere to the 'Resolution of the house in 1819, to hold a Sinking Fund ,of 5,000,0001. accumulating at compound interest ?' But if' he did'hot, then ,bc had no Sinking Fund. They talked Of . ,.Fiyin,; , ; off the dissentients, and that in a measure very different from - Mr. Pelhain's plan; They were to be paid off numerically, and in aonanner to be left open for the consideration of Parliament. If the holder. dissented, he would have a mark at his back ; he would; perhaps, have his 1001. on the day following, or would be - paid as Parliament would settle after. At all. events the dissentients would be numbered, and would be marked for the indignation and wrath of the Right lion. the Chancellor of the Exchequer. He (Mr. Tierney) argued the question on the broad principle; he was not going into the details of the Bill. :Ththoughthe had made on a case to the satisfaction of the House for granting more time. Some decision should be come to between Russia and the Otto. man Empire. Besides that, the high rate of interest was tiS be paid until July. ' That was a material point. No saving would be gained to the public. All the holders were:to have the five per cent. interest until July. Nothing cMild be gained to the public by hurrying the Bill then, and :unless N)inisters had some feelin that something would Nippen to after the value of the stock, they need not refuse to give time. It could not be at present a matter - of surprise that persons would be desirous of waiting the event of the pending negnciations be. tween. Russia and Turkey. He could enlarge on those points, put he feared he occupied the attention of the House too long. 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