The British Press; or, Morning Literary Advertiser.
London, England, 1819-05-25 00:00:00

As to the plan by which this alteration was lu be carried
into effect, the Bank Directors were the last who
ought to complain of il, fur it gave them the op-
portunity of filling Ike whole rummy with wiper, and
kreping out the bullion if they pleased, by iirwt keep-
ing up the value of their- Bank mutes SO as to make them,
far convenience-sake, snore acceptable to the public. The
. .

priipoord pie., he repeated, would raise the valise of the cur.
reney three per cent. Who were most interested in rah,-
hog the value sof 'honey ? Why, he would say the Bank
were—and here was an opportunity in which they could
really promote their own interests. He certainly was
not di■pesed to agree with that Resolution which
made the payment of the (hoversonseut to the Rauk
obligatory. He saw little reason for the Legislature to in-
wefts e peremptorily in this moonier. The deli, iii this re-
spect merely respected the propriety of the advaocrs betimeis
the debtor sod creditor, mid the prudence and expediency
of the arrangements between the parties should he left to
he settled by the Direttoes and their consfithenis.—'ffenv)
He denied that the rule of interest iw n 44444 cy could he
affected by this :Lange. He fully concurred in the npuiiona
of Dr. Adam Smith and others, that the rat' of lutenist obi'
not depend son the amount of money issued, but lIU the profits
to be made on the employment iif stock He ci 'handy wished
to restrain the redundant issues of the Bank according to the
present system. But the proposed plan ihal not mallet the
Rank in their paper issues until 1829. All lie was afraid
of a as, That they would he too rapid in their reduction.
Now, an different a view dill he lake of the conduct to In
Vlll.lll'll by the Rank from that lie feared taken by the Us.
rectors, that if their stuck of bullion were only four millions,
sud were he a Director, be should be hold enough to recom-
mend their selling out : Aril, because such a sale would re-
*duce the 21111111111 i of their moles its circulation ; and
laigauie the sending the toillion into the market, would
operate to the irdonction of the foreign exchanges. and he
would nut buy until the price was sf. I?, ISt The Ho.
nourable Member here ro capitulated Ilia tot o 000 ons on the
theory of excliangeas, and said, he had no reason whatever to
&psi t from the opinion he hod laud down in his writings.
He exprrssra himself quite ashinishrol at the alarm which
prevailed on Slut spiritism out of doors %'hat! was the
coedit moil stability of the Rank to hr shaken by a reduction
of a million and a half in the chrreney of the country on the
space of the whole four years ? It was to him unuccumotable,
rind lie cold °lily attribute it to the ilooliscieet language of
the Ralik Directors, who had, by their Remonstrance to his
Majesty's (' ioneut sounded the claim throughout the
country. The House had not, as was unnecresarily asked,
withrawn their confidence from the stability or probity of
the Houk- !nit ilio y had wilhdrawu their coodideme from
the Dui-clots, as to the best 111e1114 for resuming cash pay.
menus, from the ignorance of this priuciplow upon whio h they
menu, to bring about their measures. They loa.l had ample
means to resume rs.:ll payments, wad they overlookrol them.
Let lam nut lie told by llw Hun. theretor (Mr. Manning)
that the Bank made those advances to Diovernmeut for the
purpose of serving the public. They looked on these train-
actions to their own interests, and not to those of the
public; with the latter, as they had been properly sold,
they had unsling to do, fur Nrillllol.ll, sac alms.: ciiiiipetent
to superintend them—(Near)—lt SePlilell they lola a mil-
lion of ssichicy here and a moll um there to ■ceumns..Jsle

the politics. nos accounted for the undistributed ptutiu
perhaps which it wa■ thought were to their coffers. It
seemed Nlinistees had bail a great influence upon 'hem ;
he rather thought it was the Batik Directinis who lead
a propensity to become Monsters.—(A hirph.)—The
proposed plan would, be was store, succeed; snit IR
few weeks the present alaru respecting it would lie as us.
terry forgotten ■s if It haul never existed, and those who
'lased the unicry would be astouished at their own wreaker's.
The lion. Member then, with great force of arsuuseat, coo-
tended that silver coin could never drive gold out of the
field. Mlle Batik bad site power of limiting the issue, it
had the power of regulating the value of that issue. Sup-
pose, however, that Gneisse Nlinta would throw is. a silver
coinage, the effect of which would be to resister the silver
coinage be►e—still be would contend, as this ruin was
a limited legal us oder,. its value would he depressed without
rite gold eons being affected by st. He was ready to argue
this point at auy time, though it did not come regularly
within the prevent question, either with the Hoes. and
Learned Gettilentan (Mr. J. P. Grant), or even wills the
Noble---he begged pardon, " the Old Merchant" (allitding,
we 'oppose, tu a Noble Earl, who published some letters its
one of the public prints under that signature). The Hon.
Member theft re-asserted sever .1 of his opinions respecting
the certain result which must follow the adoption of she plan
proposed by stir Committer, and sat down amid loud cheers.
Mr. Alderman 111 Excare VIM' at two o'clock, and was
about to deliver Isis sent 1111.111., when Stir impatience of Hie
House for an adjournment of the debate was loudly malls-
tested, and
Lord CA,ITLIFSMAGII rose and prnp•.ard the adjournment
until this slay, abets Ise trusted that this. motion, by taking
precedence of all where, might be brought to a termination
at their next sitting.
The CHAIRMAIS then reported progress, mid oldaioed ,
leave to sit again this dm _ - _

he. tither Orden of the Day we►e then di.pestd of, ■nd
the House adjourtieJ soon after Two o'CLock.