The British Press; or, Morning Literary Advertiser.
London, England, 1826-02-14 00:00:00

SILK TRADE.

Mr. P. MOORE presented a petit'oa from the weavers and
manufacturers of Coventry, against the introduction of French
silk.
COMMITTEE OF' SUPPLY.
On Mr. HERMES moving the order of the day to bring up
the Report of the Committee of Supply,
Mr. SIARERLY rose, and said he took this opportunity of,
telling the Right flonourable Gentlemen (the Chancellor of the
Exchequer) thut it was his intention, in the Committee of Ways
and Means, to call the attention of the House to the subject of,
Exchequer Bills, and the connexion tied subsisted between the
Bank and Government. He mentioned his intentions then, im
order, in the first place, to give fair mtierl; and secondly,. that the
Right Honourable Gentleman might tie an early day far die.
emotion.
Wednesday next, we believe. was thew fixed on.
The Report was then read, in which it was resolved that the
following sums be raised ; viz.— -
Per payment of Exchequer Bilk dra So • . waxen°
Public Works and New Churches . - • Mal
For supplies of Service in the years 1823.24-25 . 3,00,1/00
The Report was laid on the table.
BANK CHARTER AND PROMISSORY NOTE ACT.
' On the motion that the House should resolve itself into a Com-
mittee, to resume the discussion of this question,
Sir JOHN WROTTESLEY rose, and begged leave to state
the reasons which compelled him to take the sense of the House
-en this motion. Objections had been mute to this course on
Friday last, when the House were still unacquainted with the plans
Of Government; but how much better founded would those ob-
jections appear now, when these plans were developed. All who
had beard the proposed measures of Ministers disapproved of them;
they were dangerous as a future provision, and fratlght with eft-
eumstances of present aggravation. This he believed to be the
general feeling, and called for the support of all who acknove
ledged it. That House was wont to listen with peculiar indul-
gence to those whoSe interests were involved in the discussion, but
none were so sure of experiencing from it a kind and patient hear-
ing as those who Wee to vindicate their honour and Integrity.
(Heir, hear.) On these grounds he solicited the indulgence of
the House. But with whatever kindness he might be listened
to, he still felt himself inadequate to the task he had undertaken—
* task so difficult that nothing could hivecompellecl him to assume
itbut an imperative sense of duty. He needed not to remind
the House that the subject of debate was or the greatest int-
penance, both from its intrinsic merits and the striking diversity
of opinions it gave rise to, relative to commercial eMbarrass.
Menu. He would begin by remarking on the merit which Mi-
nisters assumed to themselves for making the recent diatresses a
prominent part of his Majesty's Speech. Ile thought that • very
dubious merit. If Mintotera had stated their beset that the corn.
menial distress was of a temporary and transient nature, the
hopes of a natural remedy might in Some measure have cleared up
the general despondency, and the present melancholy state of
things might have passed away, but, instead of that they
announced die public misfortune and increased the gloom.
Much mischief was done by this authorised statement of Ministers.
To this must be added, that cruel letter (hear, hear), a letter so un-
worthy of its authors in style as well as feeling, that he was die-
posed to doubt the source from which it came; he thought it Might
be'the production of sonic clerk, but it was ascribed to Ministers,
and they unfortunately never conirsdicted the rumour. The first
remarkable thing in this letter was the accusation levelled against
country bankers, as eider* and abetter,' of rash speculations ; this
charge was so far from beihg true; that it was the peculiar business
of country bankers to watch the ceinduct of their customers, to want
them against haaardoue speculations, and if not attended to, to
withdraw their credit. This, therefore, was a most cruel and un-
founded assertion, not recommended even to the most superfid4l
observer by any colouring of plausibility. The history of the late
speculations would easily explain this; they commenced end mt.
tended principally in those districts where local notes had no cited;
lotion ; they began among the cotton dealers in Liverpool and
Manchester; they next manifested themselves in the Stock Ex-
change in Loudon. But how could country bank note. affect:4l
this How could they generate or nourish a rage for speculitiogetf
far beyond the limits of their circulation? The belief, therefor*. be
the culpability of country banks during the late 'peculation* Into
at variance with facts. But Ministers said they had warned ylke
country of the danger of speculating. Could they tell what
their warnings, or when they were uttered ? He would briefly.
the House what share Government had in discouraging this
The spirit of speculatloo began to make its appearance at the
end of 1024. At the commencement of the next Session of Par-
liament a legislative measure to prevent bubbling was tinder cos-
sideration, but wise discountenanced by the majority of Ministers.
After the South Sea bubble, the Government of the cohntry had
enacted a law, and wisely he thought which rendered wild specu-
lation almost impossible. The provisions of this statute were red.
dered effectual by a decision of Lord Ellenborough ; but last year
the Lord Chancellor held forth a different opinion, so as to nullify
the beneficial intentions of the statute. What then was more
- circumstances ' Govern.
- of