The British Press; or, Morning Literary Advertiser.
London, England, 1822-03-09 00:00:00

, .
peeks at diet kept aloof, S 1 refes.d to Itobecriall *Ott
or the', capital.
" dhow the middle of March the Commems ermined the
proper Wirers to lay Infuse them ais acemmit of she sums
whkh bad been sebeeribed, sad il+rse were takes halo mess-
dentate. by a Conesnittat of she Whale Howse. it was thee
that Mr. Pelham, asTbasseellor of (Kende:veer, Aimed,
that besides the debts flue to the three great Complies I.
their corporate capacity, all the rest, rerrrillt fir per
resume iateresi, 'Mita • subscribed, turps about eight i.e
else aslitein, the pepprietoes of clutch had toefested the fa.
rune designed Ilium by Parliimeot : bet SS wittoy of these
bad bees .tried by hit coessmillo4, who perhaps were
mere intent on distressing the Goverouneot that. solicitous,
to sees* the* Melee, Ind is Massy were forebrain., residing
heisted see, who hod ant lime to take proper Arlie, sod
give the aereessiy iosriiietioes ; sad as these could met pm.
sibly be distimtubbed from such as refused to subscribe
from mete obstimery or dissfeesion, is might be thought
Mel to take she most rigorous scimintsge of the forfeiters
they had Mewed. With respect to the proprietors of the
sleek or capital belongi•g to the three Ig.itel CeilitribieN Ms
asserted, that meal of theta would estimate, have subscribed
their properties within the time buried, bet were mreemas ity
ricliteed by the majority ois the both..; sod as it was
equally impossible to know them who were &cellist the
gent', • on she ballot, he thrieght that souse eredersess was
dee eves to she omit-weer, of those three Campaniles: his
opinion, therefore, was, that they sod the sesicibmplyieg an.
weinutie oboold be indulged wish further slow a osseplete
their siebeaription; bet, in tordet to preserve Ws soibertly
of Perkasie's, aid the regret due to that august aseemisly,
they might sot' to he prattled tviils such adessisorees
scrag a, were stioyed so the kinsitilliate she at lest cheer.
fully etimplied with the proposals offered by the legislature.
Fee these Felten= be proposed. That alibough the ton} of
eebieribiog should be protracted till the nth day of *lib
the eacouregemeat of 31. lea. per neaten per submit eheraid
sot he coutimeed le the vetoed imiceribtes Wage/ awn till
the bib day of Derenther, is she year 1755 Ihe proposal
brims approves', • Bill was based fur that porpore. se well
as for 'simonise( such ausisnike as sbooM pot be fah-
scribed, which passed through both Noires, sod was amt.
ed tato a law, after havin received en cidltionsl elecane,em-
powerieg the East lithe Company, ft ease they rhombi eels.
scribe ill their stork Immix ma inkrest of doer per oath.,
to borrow, with the coolest of she Treasury, soy as., sot
'selective four ministate two heintred thousand park after
the a I roses of isteuest hefure proposed to he' yOl4 by
the public, sod oleo million more at three per mesas per
Millen. They were also vested with a power to raise smog
by bomb, as formerly; yet au as the whole, Melodies; the
ammities, iboeld sot owed what shey were by tamer Act.
ellepollieted to borrow. The objtenoos to the execoiloo of
this project, which ire many were Metaled team snomaislite,
eatirely vsoirlied before the fertile*, penevesastee, sod
rialtos of the Minster ; who had secured, bung 'be mo.
sled men of the ammo, the promise of such slims as would
have beet. trodiciens to pey of the capital beloogteg to
those erosio.re who meths reface is accept the totem, rhos
reilatvd. The second saliveriptioo bad she desired et et.
The these great Conionsiee arioieseett, sod their .sample
was tattooed by the ether rierepilies amatikauts; the sp.
penal harden was eisatfu.t•hly lightened. mod IM
blend .coneselorabiy tocreased, *island pruderies she Most
perpleiity sw disterimace le the leltllllloBeltililhi a eiscem.
of*, that tepid eat rail le sisal* its seastratioa trod levy
of MI Clonieadoim."
.Slocernerent had decided vedjoiseli betweesitilineg
advantage of the furadholder and giving him too
moch.• 11e could out se4 .whet there wee to.
require tints fur decision, except speculatioos on
eioeunisnerices, whith •eneld sliver be'
limi'rd were they allowed for consideration,
Mr. Ettics objected to the precipitesity girths,
measure, which must be a leas to the public if th 4
teveuat' Were thriving, anti the interest at Illesrep
wile likely to be lowered. He thought the plaul
much leas candid and palatable than Mr. Peihemist
while it was far lees advantageous to the orb-
lic. It would be eight years before Om *grit*
sire a million by it. Gentlemen might 'dash, Ins
as.ertion ; but if they obsessed, the debt *could be
increased seven millions, de are per cent. ott the
whole stock. Ile strongly insisted on the Oeceasiiir
of Aelayitig The time allowed to express Asyut on
the Bill.
Mr. GBINIELL, except in the point 'of time,
most cordially epproved of the messes*.
Mr. Ttsamtit, in explanation, said he did"not
object to• the principle of she measure; but he had
P:eombuted she mode of currying it into ellbet,
sloe to which he was not prepared to assent.
1111 i, igertissom said, there could be no doubt
with respect to the questiou of the right of the
Sete to pay off the five per cruts. His Right
llonormible Friend had most properly referred to
the Act Of the 37ih of George 111. for hie mu.
thorny on thut bear!, which enacted that Gov-
ernment should not redeem the ire per cents.
until 25,000,0001. of the national debt should
hiore been paid off. Thete might. he admitted,
be vitriol), conattuciions put upon that clause but
on'e's the moat estenordioary consteOction that 11.
had ever heard of were contended for, he thought
it would be (flood that she condition there laid duets
had been fully complied with. If it were con.
tended that by the clause to which he had refert4
it were assist that the amount of the capital of she
whole debt should first he reduced below .h..t it
their was, ceitaiiily it had not been fulfilled ;
but the Honourable Member for Coventry him.
self had said, that lie aid not think so repute.
terous a meaning could have beep annexed to the
condition. It liad beets argued, that paying off
with one hand. while they were borrowing wilts tl e
other, did not constitute such • reduction of the
debt es was contemplated by the Act;..heceuse,
chile they continued to borrow, they feet added
to the debt. lie was not prepared to admit the
curiettnesii of that argumen4 but (le 'atrial be
bound by_the fact, and it appeared that the public
bed pail off more than 25,000,000. u( debt since
that period, without borrowing, or any other mese
sure which added to the capital. That they bad
been 'rambled to do by the Land Tax 11edensistioe
Bill. Us less persons were prepared to contend that
the five per tehis, were not to he reduced.before
the whole of the debt had been reduced 25.000.000/.
below its mount in • 5791; or that any operation
by which • portion of she debt to that .01001st was
paid off, did not btiog theta within the principle
of the Act to which he had referred, he could
not core-rive how it could be argued that the
condition laud not been fulfilled to the utmoe.
The Honourable Member for Coventry (Mr. El.
lice). in the ci tore of his objections respecting •
the merle and time of paying off the dissent.
tient holder,. apprised to hint to have housed-
' ed a very ettreordluary proposition. He had said,
that by this plan, at the end of sweep years,
they would only have gained 1,000,0011. If they
looked only al the present amount of the capital
of the debt, lie admitted that no more would be'
gained ). but if they looked to slit reduction of the
elierge upon the public for the interest a the debt—.•
if they looked to the fact of the seduction of
1,300,000 f. of annual burden on the people, me see
could efibe debt, thst proposition would optimism. be
wholly sufriandtd. • Aud if a slaking fund of 44

di

=