The British Press; or, Morning Literary Advertiser.
London, England, 1826-02-03 00:00:00

4/4,-

THE. BRIT,

PRESS.

foe the div•asie. it would he mind:wed merely to prevent the re: ment ;if they had been vendee-tee. It eh 't le cal rturt prudence
currence of difficulties sinless to those suffered at present. • Thee,.i they would not have had the present tlidiculty to flog with,
.were two other point; to which he wetter!' to advert. His Majesty's Ile (31r. Crime') did not believe that 5.-c .issuing isseing of-one-pound
apiece stated that the. produce of the Revenue in the int ea* has mites had the &tumour effect described. As to the country
follyeuotified the expectations entertalacel at the commencement a. hulks, he was .satieeee that they had auded much to the
it. These words were below what the facts justified, for the moat .1 prosesetity of the country by the assistance they hail afforded,
sanguine expectations were answered. There was an exoesmof arid was certain thin it any alteration took place, without auffi-
Ghe,o9ol. so that the calculation which be (the Chancellor of the cient time being allowed, great danger was to be apprehended,.
Exchequer) mole in reference to proposed reductions was corn. These banks lied lent money to a large extent ;
sit did not follow,
pletely verified. Rush was the excess notwithstanding the retitle. however, that it was advanced but cm security ; sad the question ,
non in the duty on wines and other reticles. Had it not been tor was, whether the suddenly..miling in those semen:re would be
the alterations in this respect that had been adopted, the difference possible; for, from what had lately happened, it would appear I
in favour of the past 'ear would have been much greater. In there wan considerable difficulty in turning parchment into gold..
regard to the other topics, he felt gratified at the manner in which If the thing was allowed to go on slowly all would be right, but if
the Hon. Gentleman opposite had expensed himself concerning the the contrary was to be the case, then in many instances, from the
conduct which had been pursued. He was not afraid to thank the reason he had stated, they [Mein not be enabled to pay In some
lion. Gentleman, nor was he dint:titled hem doing tie by the taunts instillers perhaps ten abillinsa in the pound. He (Mr. Cripps)
of another lion. Gentleman, who had charged him with here had thought it necessary to say thus much, because no one hail
supported by Gentlemen on the oppatite side of the Home. He satd a word in favour of a body of persons who had given great
was not unwilling to avail himself of this honest approbation. relief in times of partial distress, anti had added much to the pro.
because the proceedings on which it was founded was not the act of Menem of the country.
a sect or party.. All persons whose opinions were unbiassed (and Mr. 3IABERLY was willing to give the Bank of England
if he was not himself an intinfatehe connected with it he would add. credit fur the energy and resolutioreit had lately ehown, but that
all the wisest men) concurred in the policy of the measure. they had erred in lending their money on mortgage. The recent
(Hear, hear.) distress had not been occasioned by circumstances occurring in the
Mr. ELLICE said that with respect to the Bank of Scotland commercial world alone, but from the conduct of his Majesty's
he would caution the House to collect information from the United Government in issuing certain promissory rotes in the shape.
States of America. where banks had been established in every of Exchequer Bills, no less a sum than 303000.00 UL of Exchequer
town, and the greatest facility was experienced in obtaining din. bills being in the market, and if the Bank had not gone into the
counts. But when a run took place the banks broke, and the mi. Exchequer bill market, the distress would have been ten times more
sexy endured throughout tile country was severe in proportion to then it had been. The dividends, but for this measure on the yart
the facility which had previously bees afforded. He did not oppose of the Bank, due in October and January could not have been
the principle of the measure, but he thought that great caution Paid, and he challenged the Right Hon. Gentleman (Mr. Canning)
should be exercised when te was intended to increase the paper to say, hut that the recovery of credit was due to the Bank of Eng.
circulation. In Lancashire the bask. were well conducted, lend. Indeed, it was impossible to speak ton highly of theme they
and the best results succeeded. He hoped that if charter-banks be had averted the evil brought upon the country by his Majesty's
considered valuable, they will be so regulated an to cause no injury. Ministers, who having brought the course of exchange against
The difference between the market and the mint price of gold was England, the Bank came in and accommodated them by taking
not, in his opinion, the test of value which had been alleged. There Exchequer bills : had they not done so the dividend; Could not have
was a serious omission in the Speech of his Majesty, of which he been paid, the Government would have been in the situation of the
wished to take notice. While he allowed the propene! of the prin. country banks, and a national bankruptcy would have been the
ciple of free trade, he thought in consistency that it should be ap. consequence, lie (Mr. Alaberly) had no tight to call on the Hon,
plied to the Corn Laws. This wee a question with whisk the Gentleman opposite, (31r.Peame) he had no right to appeal to bins
House ought to grapple. It was strange when the principle was as a Bank Director; but he trusted that if he did speak on this
I considered applicable to all trades, that the only one which was subject he would speak out plainly anti fearlessly, and hoped be
excepted from it was that which, as regarding she support of life, would say something as to the circumstance of putting the country
ought to be considered the fist to come uedee its influence. It banks out of the market.
seems as if Ministers were afraid of trying its applicaticn in this Mr. PEARSE next addressed the House. but in so low a tone
particular, for it appeared to him that whatever argument could be as scarcely to be audible in the gallery. lie was understood to
@deuced in favour of the application of this principle to the article say, that the Ism difficulties arose front the conduct of the country
of silk would operate equally in regard to corn. Aft materials banks. That the money lent on mortgage by the Bank of England
should be procured ns cheap in this as in any other country. • But , took place at a time of great agricultural distress ; only 1,2(10,0001.
• though the Right Hon. Gentleman had promised thatthese matters had been advanced on that head at the period in question. No
should be taken into consideration, the people were still calling out further advance had taken place, nor WWI it intended such should
few cheap bread, be the case, and four per cent. only was charged on those Nemec-
Mr. HUME considered that the Speech was very little satisfac. tintlL The Hon. Member for Knareeborough had some general
tory.. He did not think that the Right Hon. Gentleman had been objection as to the power of assistance with which the Bank
successful in carrying the consideration of the house back to former was vested, but the House wools! have in its recollection the able
periods. Without meaning to approve or condemn the plan which report of Mr. Homer in respect to those power.. lie (Mr.Pesnie)
was in contemplation, he thought that hi; Majesty's Ministers has been forty years a Director of the Bank, and never during that
I acted the part of incendiaries who first set fire to a house and at'. period hut known them actuated by improper motives, always cote.
terwards assist to extinguish the fame.. lie wished it were pos. ceiving that their own interests would be best served by supporting
sable to trace the proceedings of the Bank of England to the year the general welfare of tho country. (Hear.) The Hon. Gentleman
17i1. the experience would then prove the truth of the similitude. compleined of the tone in which the Chancellor of the Exchequer
He did not approve of the condition which shut out from the ope. hatl spoken of the voluntary concession made by the Hank of its
ration of the proposed measure time circumference of fisemiles round privileges, with relation to the institution of quint-stock banking
the metropolis, in which district the necessity existed as much as companies.
'in those places beyond that distance. It &comet require any great Mr. Secretary CANNING then rose and goldenrod the Speaker.
prescience to tell that the present expedient would not answer the to the following effect •.—Although, Sir, lam not desirous of pro.
purpose. He had formerly proposed that there should be a regular
riddence of all the evils incidental to this subject; but did his Ala. meeting the debate which has unexpectedly arisen, yet there are
jetty's Speech hold out any hopes of such a nature? Let the House some misconceptions regarding the topics of my Right lion.
look to the expenditure of the year 1e93. and though the country Friend's speech which I wish to set right ; and in order that I may
has been at peace for the last ten years, yet the ircumbrancee are do so, lam anxious to state my understanding of the observatims
groom than at that period. Instead of paying lour millions and a
half, as at that time, the country was now incunibered with a sum he addressed to the Mouse. I refer particularly to the speech Of
of from nine to ten millions, with every prospect of increase. ark. the Hon.:Member for Midhurst (Mr. John Smith), and that which
ing from the notional debt. The whole evil was to be traced to the was delivered by the Hon. Gentleman (Mr. Pelage) who spoke
extravagance with which the public money was dissipated. " Eany i • wire as:. In the latter particularly there ere sentiments imputed to
come, easy go." It was incredible how readily the nation is gulled
by every statement that is submitted to it. 01. that deerription was my Right Hon. Friend which I should have thought it impossible lie
the Report of the Committee of Finance in 1317. This entintry could have been supposed capable of entertaining. The lion. Gen.
should not enter into competition with the despots of the Continent tleinan (Mr. J. Smith) opposite seems to apprehend that a plan is in
in the keeping up otesuch large establishments. TM* was a great
cause of the distress which has been experienced in England. In agitation to erect joint.stock banking companies, which will swat.
the year Rile, the taxes were 62,303,0001. ; in 1818, 63,200,000 e, low tip all the existing establishments. Now the proposition of my
and so on progressively to the last year after ten yearn of peace. Right Hon. Friend is merely to take off. with the consent of the
Time country should look to the example of economy lately given Bunk Directory, a few years sooner than it would otherwise neces.
by one of the Germanic states, otherwise the nation would be lon by
expending so many millions in imitating the frippery of LouieN I% . sarily expire, the prohibition which, by the common consent
While the people are starving hie Majesty's guards are attuned of all who have spoken this erenirg, renders weakness, instead of
with gold lace; but the Right lion. Gentleman has cumbers to strength, the inherent quality of all country banks. It requires no
back him in his proceedings, and he will not, therefore, be deterred
from proceeding, by the distress which le the result. What reason agency of my Right Honourable Friend to brim; this evil, if
then is there to expect amendment ? Scarcely one subject in the it be one, upon us, for the law has already decided that it shalt
Speech from the throne ought to be there. Every pretence has take place in 1833, namely, tied after that period there shall
been made use of to increase menthol), until it has at last arrived at no longer exist the privilege now possessed by the Bank of Eng-
its present dreadful state. Inmead of keeping_up large military
establishments to bold the people in awe, theTrovemment should I arid, melting it impossible for more than site partners to below to
apply itself to make them happy. and should reduce the expendi. a banking establishment ; that privilege necessarily ceasing with
sore •to 'berate of 17113, at Mr. lett's time. If proper steps were the expiration of the Bank Charter, of course joint.stock
taken this could be effected, and yet the people were overloaded
with taxes. Don Government have to keep the Colonies ? Look ‘.__companies may then be instituted to any extent for the purpose of
to Irelend, if that country can be called a colony. There 30.010 umking• But untie!, what circumstances, let me ask, will the evil'
troops are wanted to keep the people in coercion, and for the tee. if it must be so termed, come upon us, should the law remain on.
orseity of this force Ministers must blame themselves. (Hem) altered ? In the first place, we should observe that the privilege of
Ireland is like a camp, from the numerous divisions of troops scat- the Bank of England, by which country banks are prevented from
• tared on her surface, yet it waxed not be difficult to make that
nation happy. The Celonies in the Wert Indies, from the mtg. spreading themselves on a wider basis, will continue to exist
thananagetnent attending them, are worse than useless, for they till the year 1333. On the other hand, the country banks will
tag more money then time starving people of England are able to continue to possess the unlimited power of issuing small
afford. But they are thus allowed to draw the resources of this
. Maury, in order to provide situations for the minions belonging to notes for precisely the game period. if the termination of
some powerful families. If they looked to the East, the prospect the privilege of the Bank of England be fraught with mischief
was not improved. In his !Majesty's speech of last year, it was at present, how much greater mischief may not be expected to
Mated that the Burmese war was requisite, and that there was every result from it, if it be allowed to operate on the unrestrained
probability of a successful issue. But that was not the fact. If
Wee colntry wouldallow the four or five millions of debt to go on issue of country notes ? My Right Honourable Friend has two
manually, as had been done for the last years, It would ulti- objects in view—first to accelerate the period of removing the pro-
mutely find itself liable for the payment. Ills Majesty's Speech states hibition which entails weakness on the country banki; and second.
that continued success attended the British, arms there; but without
ly. by limiting the issues, to make the new power operate with less
meaning to disparage the army, for ohne bravery no person felt a
higher opinion thee -himself; he could not perceive that this was suddenness and greater security. Whether the consequence of with.
the case. Wherever the British troops have hail an opportunity, drawing this privilege will be to create entirely new banks, or whether
they always proved their yenta,. At present, however, the praise it will cause the ancient respectable establishments to widen dm eir
is negative, for they are left to forieh lit an unwholesome country, ,
which the natives have laid waste. They cannot light against enc. foundations '(leat), I know not. T lie Hon. Gentleman (Mr. J.
mica who are not to be seen. Bat the Ministers are to be blamed Sinith)assumee, without any reason I think, that the new institutions.
who sent out an incompetent person to preside, against the wish of will altogether supersede those now in existence. I cannot conceive
every man of sense. The Court of Directors have no confidence in ' whv when the power shall be given, it shied.] not operate in what
bad Amherst. What excuse, then, have his Mnjesty's Ministers •
for keeping him in India ? Those who support Lord Amherst in the appears to me to be the Petered mode, by adding a seventh or
business are highly responsible. Between the Board of Directors eighth, or perhaps tenth partner. to the existing esteblishments,
and the Board of Control the matter was likely to produce most in. This seeme to me more likely than it should lead to the iaStitUtiOn
jurious effects. The lion. Gentleman, in conclusion. called upon his
Majesty's Ministers to reduce the public establishments—tit reduce of a new set of corporations to rival and extinguish those that we ,
emotion—a 'eduction of ten millions of taxes might eatilly he made, already possess. Surety every miming establishment will be able
aid he was sure that were it made time Government would be carried by an accession of strength or consolidation of interests, to prevent
on better, anti with more advfmtege to the public than now was the
ease. The Sinking Fund also should be abolished—it was a mere the evils which are, as it appears to me, so groundlessly appre-
blind—it had beets formed for the purpose of redeeming taxation, heeded. At to my Right Hon. Friend being disposeiliao press any
bat in point of fact hart had quite the contrary effect. itienure hastily Upon 'the house, anti take it unawares, nothing fell
Mr. TIIO3IAS lr ILSON next addressee the !louse, but from from him that could fairly be construed to indicate soy such in.
oho mem that prevailed we could not distincly hear the Honour.-
able Gentleman, we understood him to object to the extension of temion. If he diet not dwell on the details of his plan with all the
the laws regulating the silk trade. which he describes( as (littering minuteness that was expected, it was because time subject has been
from ash others to which such principle might be applied, and con- so often before Parliament, or at least so long before the public,
Matted by observing that essential relief tim all climes" meld not be that it Was only necessary to refer to it generally to bring' it to the
given unless some alteration was made in the Corn Laws.
Air. J. S3IITII said that the Right lion. Gentleman opposite mines of lionowrable Gentlemen who are acqueinted witle it. An.
(Mr. Canning) was fully aware of the panic and aiarm which had other consideration I may mention is, that if kris be an evil it is one
existed, and if the causes that led to them were not now fully ex- which time Bank of England may new create any day in the week,
amined, the statement of the Right lion. Secretary, he feared,
fur that body has the
was calculated to extend it. lie (Mr. Smith) would take upon him-
.sl power of creating branch banks. If, then , It
be necessary to establish a more solid system of banking, time altett.
to prove that the issuing of one.pound notes had the effect in
[ many instances of depriving the artisan and labourer of their fair native is either that the Bank of England shall establish branches
remuneration, and created misery which could not be known but in the country, or that Parliament shall give means and opportu.
by those residing in the districts in which they were circulated. . t
nay to others to establish bank; for themselves. If these measure+
He much feared that these Government institutions, these joint.
mock companies, would have the effect of destroying the credit of be necessarily ruinous to the existing establishments, which I deny,
many country banks, and of diminishing that of others, and that that ruin is equally inevitable whether the Bank of England be the
the silence of the Right Hon. Gentleman as to the time at which agent of the new institutions, or we take advantage of the dispose.
these companies were to commence their operations, whether in
tion of the Bank to withdraw its exclusive privilege, and permit
one, two, or three menthe, would have the effect of creating the
rental alarm, and he feared producloa return of that panic, from new establishments to rice, and, en we are told, absorb those that
the effect of which the country wan but now recovering. lie (Mr. already exist. If the Bank of England establish branch banks,
Smith) considered that the institution of these joint-stock cram.
the
ponies would be against honour and principle. The Right Hon.
probability of a dangeroug collision would not perhaps be much di.
Gentleman must be aware how much they might operate to the minished ; but there are objections to that course which are Cana
Injury of many respectable establishments that had gone on ter liar to almost every Member of the House. In this situation
More than one hundred years. The Hon. Member then stated hie
11109 t decided objection to the issuing of one-pound notes, and we have our choice to adopt one of three thing.: either the Bank
, metered the House that his own interests should never induce him of England must exercise the . privilege it has of establishing
Ito supportany measure which should have 10r its object the bring. branchbanks, which would be equally fatal, if competition, con-
ing them into circulation. lie begged to draw the attention of this fidence, and. capital, can be so to the existing eetublishments ;
fact to the notice of the Right Honours le Gentleman, .vie.
that the issuing of one-pound notes would have the effect of or • •
driving (as had been the case in Scotland, every piece of gold out , blish.
mi right Hon. Friend's elan must be adopted to tikeadvantaest
of the voluntary surrender of the open ground for new este
of the kingdom. He hoped the !tight Hen. Gentleman would meets, which would be neither so fortnidebls as rivals as the
distinctly state when the formation of these banks ;was to take branches of the Bank of England would be, nee. possess that us.
place, and that they would not be allowed to enter into corn. lily of repulsion which would belong to them ; or, thinlly, w.
petition with the existing establishments without sufficient no-
tice. There was one subject in his Majesty's Speech to which must remain as we are. having a clear view of all the mischief that
he would take the liberty of alluding, which 'wee that which results from our present insecure and insufficient system of bank.
related to the measures rug) ested lest Session for the Mi.
the last ought not to be resorted
ing. Besides these, we have no alternative, and the House, I are the condition el Ireland. The Hon. Geatimnan said
-that a more excellent Committee than that which mi last year
and the year before, had never been funned, to eitamine into to. Of the two remaining choices, it seems perfectly clear that the
sure, will unanimously agreesthat
,e,,,,,..,,,the' sate this Ireland,,,, anda. he, h°ePedeselehat rthei,!,_sehtb°u",weehld he latter plan for incorporating new partners in the old emu would bp
Session ' 11"'" - '''-'' e' "'the"' would tint be likely to prove most effectual, while it would offer the least shuck,.
mead to the bettom. The Right Hon. Gentlemaa the *ere- •
J. Ireland, but he knew nothing of the chartered school., Le impossible to discuss this subject without adverting to the praises,
they of State for the Home Department had beer a met While the existing estehlighteente, and save them most completely. It 4
mimed have no opportunity of ketosis,: ' the barbarity and in. justly, and I was glad to observe, not niggardly bestowed on the
pence which the Report brought to hem and whieb A was
eesilele to get as but by a l',4lmoonfttwe of the Heine. theconduct of the Bank of England. But nothing, I think, has le,
saidence was extremely logy, acrd the Ihmort extremely short : and Hated more honour on that Corporation than the grace with which
Of,Mr. Smith) was theretore anxious for •ilto remppolatment they have consented to strip themselves of thin part of their priri.
this Committee, in order chat they might state something more,
as well as penmen in their inquiry. leges. (Hear, hear.) It is idle to say that this privilege is odious,
, . Air. CRIPPS awned the House that, in mows ta country or that it is a monopoly. It in an inherent privilege, of which by
.biltket theta had been, to his knowledge, great mismanage. o law they are in complete possession, and froth *hints not thy 'oax

nipotenac of'Panliatnent can
view of human nature, end' 11. possession, Oat
with ingfarence the voluntary surrender of woe/twilit. which,
eves: aeamtere ornanten% they wottld naturally be not reedit/ dis-
posed- te pert with, seppoting if did not possess solid utilitt, It is
thee dccurrence, and deserves PO etch:Are panegyric. Hears tele
tlicy may keep it, if they please, beesuse they Wee II ; the
law. has given it to them, and no man can extort Sr from
them. Thee may keep it, in order to make a bargain with
the public for some other consideration. They easy keep it,
in order to prevent the rivalry expected from country banks in
that part of England of which the circulation is now in their ex-
clusive Possession. They may keep it without as-igniug any rea-
l/0 at all. It is clear they have yielded it to some pnblie town ;
if unwillingly. so much more laudable the act ; if willingly, they
have shown that the iaterest of the public is their first object,
and afterward, their own interests, as involved with it. • For
whatever reason, it is certain that they have now contented
patrioticaliy to grant 'Ott at a former reeled they tinbfalcably
refiteed. They have yielded, and having date so, advantage is
intended to be taken oftoe concession by my Right kissable
. not ungenerously or unkindly, or in the spirit of tri.
urrerienphd
srit spoliation over the Bank of England, as the Rig* Ho-
tsourable (Slr. Pearse) seemed t. suppcse. (No. no. (rota Mr'
Parse.) I really understood the Honourable Gentleman to repre-
sent my Right Honourable Friend as having spoken of potting an
end to the privilege of the Bank in an unOind way. On the con-
trary the utmost justice has been done by every body to the manner
in which the Bank of England has conducted this discussion, as
well as to the decision to which that discutsion has led. An Honour-
able Gentleman (Mr. Robertson) who spoke early in the debate,
among the variety of renutrOs be made, gave utterance to one which
.1 should be sorry to pass by wholly unanswered. Ile thinks that
Ministers are greatly culpable ear no: discouraging that wild
*pith Of speculation which has so much contributed to .preesew
the present crisis of distress. lie supposes that the Alinistets are
wanting to their duty, because, when the schemes of lost reit, were
brought forward in Pat i anent, they did not attend in their places
and give a vigorous and detailed opposition to every one of fhert.
It is; In my opinion, a conver.ient anti seemly reason that those
who attend to the public business should abstain from taking any
part In the discussion and consideration of private tocasures. Such
has been the rule I have adopted for myself. I never gave a vote
is any private bill, and I have found it the safer and more advi.
sabierule. If, on any one occasion, I hid reconciled it td my
sense of duty to do otherwise, that instance might have grown
into a practice, and would have given rise to suspicions ocjust and
unfounded, yet not more so than the charge which 1 am refuting.
But there was no neglect on the part of his Majesty's Ministers in
giving timely waming to those who embirked in these cite:prises,
that under no circumstances could they look to the Keeg's
Government for tenet: At an early period of the late hoer
In the public mind, the parties concerned dial notice given to them
that if they got into difficulties by their extravagant speculations
no aid could be administered to them. I may historically allude to
what passed in 'heather House of Parliament, where—not Is flying
a vote for or against any particular measure, but as head of the
Demeter, my Noble Friend (the Earl of Liverpool) speaking as
the organ of that department of the State and of the whole Govern-
mint, early in the month of Illarch, r.et fire weeks after the com-
mencement of the Session, and before ore Bill of this nature bad
period—expressly, sod in the clearest and strongest terms, warned
Aimee who were running wildly into these speculation., that though
It was the essence of this free country that no legislative let should
be imposed on the current of individual industry or speculation, they
were entering into undertakings entirely on their own responsibility
and risk, and that it was the fixed determination of Government not
to give any I'atliamentary aid to relieve them from any difficulties
Into which they might be picoged by their adventures. As far as
the voice of Government was heard, it was undoubtedly heard intel-
ligibly though the cottntry, and the more clearly and intelligibly
because the declaration did not grow out of the opposition to any
particular measure, but was fastened as it were accidentally oh
some in which Government took no part, and given out fully' foe
general information, and not treasured up for such a crisis be the
present, which it was intended to prevent. Unforttutately, that
warning was disregarded and difficulties hove arises, but it Is hard
that Government should be charged with riot hewing given duo
warning to those who are now suffering from their impepdence. We
were well aware that this topic is that on which men's mitt& arc
most intent, and that in the tirst instance it would fix and ocia2py
the attention of Parliament. There has been, I contend, no ele
liciency in indicating the feelings of Government-with regard to it.
If the part of the Speech relative to this subject be measured eve:
by proportion, it will be found to occupy by far the greatett
part of it. The rest is thrown into the shade by mcnnor..
ing this first at the outset, and afterwards at the conciusior.
It was felt that all men would desire to see how it was treated,
and it appeared to us the most manly and proper cours.
to treat it as the most important and urgent topic that Par.
hutment can have under its consideration. (Hear, hear.) It
were to venture further at this moment, I should be carried into a
wide field of debate. The Hon. Gentleman (Mr. Hume) on I:'
opposite benches lad in his observations left untouched no too.
that had ever been discussed during the late war or the present.
pence. (A laugh.)
Mr. HUME intimated across the House that he had not referred
at all to the late war.
Mr. CANNING continued. Well then, Sir, if the lion. Geeo
tleman has omitted any topics, he has the advantage of being able
to recur to them when opportunity serves ; and as I have no doubt
he will find occasions tunable for their introduction, he can reserve
them till the happy time arrives. (A laugh.) I hope he will not
conside? ii disrespectful if for this reason I pass over the rest Met
speech without remark. 1 cannot however avoid noticing the pee
culiar style in which the Hon. Gentleman criticised the .ICitigns
Speech of this and the preceding year. Ile said of the alpeech of
'sat year that it was contrary to truth ; that of this year he de-
scribed as inconsistent with tict. (A laugh.) I confers Ido r.ot
understand the Mee distinction between these propositions, bet
perhaps the knowledge of logic he has acquired in the diatinguithett
University of which he is Lord Rector may have enabled him to
draw a line of discrimination. (A. laugh.) I certainly do noosee
the ditierenOe Myself, bat in his own way I may retort the moo-
sigma upon him. For example, the lion. Gentleman saysohat
since the peace there has been no reduction of taxation. That aster.
tion, I would sal, is contrary to truth. There has been a redtc-
Oen of twenty-seven millions. (Hear, hear.) But he say's tin.:
though since the peace there has been no reduction cf taxation.
during the last five years the reduction has been still less than the
preceding five year'', that is to my, lees than nothing. ( Laughter.
Now dint assertion, I would certainly sa)., is inconsistent
with feet. (Much laughter.) I take these passages an, spiel! -
mens of the Honourable Gentleman's speech, and only ad.
vert to them now briefly, as they will probably fay Iht.
ground for moo, future debates, daring which I shall have .an
opportunity of setting the lion. Gentleman right in his legornenta
as I have now in his facts. (A laugh.) There was one quest/ma
put by the lion. and Learned Gentleman (Mr. Brougham), to
which I must reply. He asked whether a certain treaty betweeti
this country and Brazil, which has been published in the. pipets,
has co has not been ratitied. I entirely agree with him-as. to
the character of rile stipulation to which he referrtd. Th'cr,
were however oilier stipulations which it was equally impos-
sible to adopt. The treaty was negotiated without izstrattiotis„
anti contrary to the views of his Majesty's Notornrnent as to %Pt:::
was fit to be done on the occasion, But thpith the treaty v"in,
negotiated without instructions, if It had beeirof an itocaceptioto
able stature it would have been ratified. 'However. it has not hect
.rat;eed ; it will not be ratified. (Hear, heal.) With regard'to
antery important question to which allusion has been made, tlo
revision of the laws affecting the trade in core, it has been
felt, under all the circumstances oe the timee.ibat this "mild
not be a convenient Session to have the saaect brought
ward by his Majesty'a Government. The Right ilosioueside
Gentleman, we• believe, added another sentence. but bens she
lowness of the tone in which he spoke we eould not catch Its
purport. • •
Mr. CAIAIIi AFT could not cafecide with those who aseriiesi lie
Jame calamities to the failure of country batiks. Althoayli 30 of desert o •
litight have failed—and hoer could they he secured from tee gemmal
convulsion?—yet a large majotity of there remained with eni missile('
Lon-
don it
banks
imßiubeiwishrdo intitpmismetot
egtionnjabiehn.atasoabihreety
Puf
wilhitilwrispotehieloloando;
condone ofthek of England. the HoorroreitteM4 krotaswil_
ling mellow them their eneed of - die 'Wieldier mid libeentev
with whisk. egry essmod kit M
ratelebiest rengs.l bitwairoor.
*O4 es the false oprineipies petiole Aiwa pm- •
to 'thee dm*, WNW -
taisialsoll'o=ZlFadossseir
b•stirdowe thassiatf bouthowoonklmo
ossa***Blisielmormalwerito whidi
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the ist,i,r,,:iple of possesbion, to treat

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