The British Press; or, Morning Literary Advertiser.
London, England, 1826-02-15 00:00:00

NORWICH GAS LIGHT RILL._

111 r. S. ONl•gftno;itifoiletiveio to light the
town of Norwich with gam.—Leave granted.

ABOLITION pr SLAVERY.

Mr. HURST Piese niedePetiiiOn from the inhabitants, traders,
and burgesses of the borough of Horsham, in Sussex, praying the
abolition of slavery in the %Vest India colonies. He said that the
petition which he had the honour to present from the borough of
Horsham was signed by 600 persons, individually and collectively
respectable. He was confident that the sentiments of men who sym-
pathised in the miseries and ttegradationef any portion of the human
species would meet with consideration Rom that !louse ; the pelt-
tioners wene Impressed with similar conv:ctions, and in the prayer
of their petition expressed their gratitude to the House for what it
had already done to ameliorate the condition of the unhappy negro.
Much had been done, bat more remains to do. The spirit and
genius of this country was decidedly adsetse to the existence of
slavery in any shape, however modified. The tone of moderation
in which the petitioners urged the prayer of their petition upon the
consideration of the House he thought entitled them to respect and
attention ; they sympathised in the distresses of the West India
slang, but they did not allow any expression of intemperance to.
disc race a cause which enlisted in its defence the best feelings of
humanity; their object was to raise their fellow.creatures from
bondaga and degradation to the condition and rank of cirinns. Until
the mark of slavery was entirely removed from those unhappy men,
their situation was to be deplored ; the petitioners sought for an
entire and complete abolition of that system which oppressed the
slaves in our colonies, convinced that It was the best and most
effectual mode of securing their happiness and utility.
Similar petitions were presented by Mr. Rice Trevor, from Sr.
Cattnarthenshire; by Lord Althorp, from Threckstone and
Banbury; by Mr. Sykes, from Driffield and Bowden, Yorkshire;
by Colonel Wildman, from Colchester; and by Mr. Tremayne,
from the Mayor and Burgesses of Falmouth.
BANK OF IRELAND.

Sir HENRY PARNELL gave notice of a motion for Thurs.
day. relative to the Privileges of the Bank of Ireland.
______PAPER CURRENCY.

Mr. ISLACKBURNE iririe;;cll;iiiition from Chorley,Lanca-
shire, against the circulation of one-pound notes.
ELECTION LAWS.

Lord JOHN RUSSELL gave notice of R motion for Thursday,
the 2d of March, for leave to bring in a Bill for the better preven.
tion of bribery and corruption in the election of Members of Par.
lia-nent.

PORT OF.NEWPORT.
Sir C. 1110 ROAN brought is a Rill to improve the harbour of''
Newport.
Read a fiat time.
___ _ _ _

SILK TRADE.

Mr. DAVENPORT presented a petition from the town of
Congleton, in Cheshire, ngainst the introduction of French silks.
Mr. ELLICE presented a petition, signed by the riband weavers
of Coventry, complaining of distress arising from want of employ.
ment; and representing the difficulties of the trade and future
misery they had to apprehend from the competition of French
manufacturers. The lion. Gentleman observed that, however
harsh and disagreeable these representations might be to Mi-
nisters, it would be difficult to controvert them. The manufacturers
of Coventry, he had been Informed, had represented to Government
their fears of the distressful consequences likely to result from
our new commercial arrangements, and stating that if these were
persevered In, they would find it necessary to &miss their work.
men. The reply they received was, that Government did not
apprehend any important changes from the new regulations, nor
did they expect that the quantity of French silk imported would
exceed that which was now introduced, notwithstanding all the
vigilance employed to prevent smuggling. This was the ground
on which Ministers went, that the quantity of French silks legally
imported will never exceed what is now smuggled into the country.
To this issue then he (Mr. Ellice) was willing to bring tile
question : either the petitioners were right in their clew of this
measure, or else the perseverance of Government was justified by
the facts they alleged. Ile therefore felt it his duty to move for the
appointment of a select Committee to inquire Into all the facts of
the silk trade, and to report the same. before the (louse should adopt
this measure. He thought it fair to follow this course, in order that
the question might be thoroughly discusssed, and Clint the premises
assumed by illinisters might, if true, be satisfactorily proved. Ile
would therefore give notice that he would move on Wednesday,
22d inst. for a Select Committee on the Silk Trace.
Mr. HUSKISSON was unwilling to discuss' this question at
present. It was a question of too great amplitude and importance to
be cursorily treated t but lie would be happy to enter into it on the
day fixed by the lion. Member, and would then offer to the House
a complete exposition of his view.
Sir THOMAS LETH BRIDGE said he should have been
better pleased if the Right lion. Gentleman had given some hope
of a select committee. One of the heaviest complaints made by
those who took a sincere interest in the question before the House,
was the want of satisfactory reasons and explanations on the part
of Government. It was, therefore, to be lamented that the Right
lion. Gentleman was not more explicit in declaring his intentions.
Mr. lIERRIES rose merely to say that he had received that
morning some communications tar Government from a deputation li
of the silk manufacturers residing in Coventry.
BANK ACT.

Mr. GORDON presented a petition from Cirencester, in Glou-
cestershire, deprecating the enforcement of the intended measures
relative to the currency. The Hon. Member said that no petition
had ever been presented to that I louse with more respect ible signa-
tures. It was signed by men of eicry rank and profession, who all
concurred in their dislike to the intended measure; what the peti-
tioners prayed was that Ministers would do nothing at all. By their
ill-timed and injudicious interference they prolonged the general
distress, and retarded that perfect tranquillization which would
otlierwise have naturally taken place. After the discussion of the
preceding night he was aware it would now be useless to agitate
the question any farther, and Ministers were more likely to prove
inflexible than ever ; indeed, if such measures were expedient at
all, they could not be put in operation too soon ; but lie believed
that they were uncalled for, and likely to prove mischievous, and
hoped it was not yet too late for Ministers to retract.
Mr. BENNET said that this question was agitated at a pecu-
liarly unfortunate time ; the sole and single object that ought to
have been kept in view was the establishment of a sound and se-
cure currency ; and this end, he thought, might have been at-
tained by obliging the country bankers to give security to the
amount of their issues ; but whatever might be the intrinsic merit
of the new regulation, it was not introduced at the proper moment,
and he regretted to find it had been carried by a large majority.
Sir T. LETHIIIt IDO E said he considered the question of cur-
rency settled on a wise basis. As far as the agricultural interest
was concerned, lie wad mire none of those mischiefs would arise
which had been predicted. It had been said, that prices would
fall, he did not believe they would, but even if they were to fall.
the argument would be a bad one. The agricultural body had
nothing to apprehend, while the lower class might expect a solid
benefit; they would have a substat.tial return for their labour.
Neither did he apprehend any difficulties from a deficiency of cur-
rency; on the contrary, he believed there was sufficient for all
purr-mete. Besides those considerations, it would be w ise to attend
to a possible contingency alluded to last night—he meant, the sus-
pension of cash payments In any crisis of public calamity—as for
instance, in a war. As this event was possible, however distant,
it was better to be provided for it ; and this he considered a strong
argument in favour of the new arrangements, which, lie sincerely
believed, would redound to the interest of the whole nation, and
particularly of the agricultural body.
Sir J. BRIDGES considered Government entitled to gratitude
for the decision and alacrity with which it opposed itself to a most
pernicious system, fur no system could be more productive of mis-
chief and distress than a system of paper currency. iVhat could
lie more afflicting than to see a poor man hawking about a pound
note, and selling it, perhaps, for live shillings to procure subsist-
ence for his family ? And however inconvenient the time, Minis-
ters, he thought, were entitled to greater credit fot bringing for-
ward their measare as soon as posimbis.

NAVIGATION ACT.
Mr. lII:MUSSON said it was his design to he very brief. He
had before laid on the table of the House some Treatietentered into
between this country and the Republics of South America. In
these treistiat there was a ;limitation, that ships not built in those
countries should yet be considered as national shipping. By our
Navigation Laws It was enacted that ships trwthig to thin country
should have the
.privileges only of the nation to which they actually
belonged, and not of any third nation, in thecommerce of which
they were engaged. But when the South American colonies passed
from the state ofciftnies to that offree and indspendent states, they
found themselves deprival by their former circumstances, of the
means of that tale to which they might be entitled in their new
condition. It would be useless to enforce towards them those pro.
visions of our laws, When they had as yet no ships of their os n.
He therefore recommended such a moderate:sod equitable arrange-
ment in favour of those countries, as would enable them to reap all
the commercial benefits Cf their treaties, by permitting them to
claim the privileges of national shipping for ships not built by
themselves, This was the tole object of his motion, to moderate,
with respect to the States of Colombia and Buenos Ayres. theri-
gour of our navigation laws, which enact that no ship shall enjoy
the privileges established by treaty with any nation, unless it ac-
tually belongs to, and the owner be, a subject of that nation. This
commercial arrangement he did, not mean to extend to any other
State, and he hoped the House would not view the proposition whit
any suspicion or alarm ; he would therefore move the order of tl.e
day for a Committee of the whole House to take into consideration
a Bill to give eirc.ct to treaties of Commerce with Countries in Arne,
rice not at present provided with national merchant shipping.
Mr. ROBERTSON said that this motion was a sufficient Ulna-
tration of the system in which the Right. Hon. Gentleman drab
away the interests of the country. The Right Hon. Gentleman
displayed a total wantof those feeling which until lately had always
actuated our Government, and which had nourished and preserved
our national greatness. What indnced Onvertiment to grant this
favour to a young republic, in order that she might gain a coin-
mercial advantage over this country, overburdened as it is, and op.
pronged with taxation ? Why allow them to buy ships in North
America, to the prejudice of our ship-builders, and then permit
these vessels to usurp our carrying trade. The State of Colombia
affected to he liberal in admitting strangers among them on an equal
footing ; but in courting citizens to fill their country they con.
stilted only their own advantage; hut Ministers sought no equi-
valent in sacrificing the interests of the country ; they give up our
carrying trade gratuitously. lie would thenforegive a strenuous
resistance to all such measures.

Air. HI ATHCOTE begged tonal( the Right lion. Gentleman
whether the new commercial-arrangements were accompanied by an
increase, or diminution in the number of British seamen. it was
said there was a general increase of Prcign shipping, particularly
from the 'Northern Powers, entering our ports. The increase of
trade was but an unstable and fallacious advantage, if attended
with a decrease of British Bailors. The national strength was the
basis of national wed th, which would ?icon di.‘appear if it were not
for its alliance with the former. He hyped therefore that the
Right II onourable Gentleman Would give him, if possible, the in-
formation he sought.

Mr. HUSKISSON replied that the principle of our Navigat.on
Laws remained the same a. formerly ; that the shipping of a third
party would not be entitled to the privileges conceded by inter-
national treaties. With respect to the number of !seamen. it was
not wonderful in time of peace their dbinhers thnuld be diminished.
But there was no relaxation of the law, nor decline in one trade ;
and if our shipping increased, it could not be conceived how the
number of seamen could be diminished. It was still necessary that
the master and three-fourths of the crew should be British
subject..
Mr. HEATHCOTE said that the number of our seamen had
decreased from 112,000 to 108,000—a decrease sufficiently alarming.
Mr. HUME rose, in consequence of the remarks made on the
navy, to ask the Right Hon. Gentleman whether he intended to re-
deem the pledge he had formerly given to the House and country.
When he (Mt. Hume) voted with 31mistera for the Reciprocity Acts.
it sax on the condition that all the taxes on ship-building should.
be tedneed the drat opportunity. If these taxes were not taken off',
the inevitable consequence would be the total loss of our mercantile
navy—the source and cradle of our wealth and strength. It was
extraordinary that when Government maintained no less than 500
ships, yet they never considered how they were to be stocked with
seamen. Ile wished then to know whether the Right lion. Gen-
tleman would redeem his pledge and reduce those taxes.
Col. FERGUSON said that the business of ship-buildiag was
declining in this country: the number or vessels built in New
„Brunswick and Canada was so great, that they could not get hands
to bring them over. The cheapness of labour and lightness of
taxation gave those countries great advantages over us.
The House having gone into a Committee,
Mr. HUSKISSON said that the States of Colombia and Buenos
Ayres had no shipping until very lately. A heavy charge had been
brought against Government tnr making a stipulation, a itinnit
which the countries catering into the treaty could have no com-
merce at all.

Mr. DENMAN rose merely to express his hope that the Right
Honourable Gentleman did not mean to detain the Douse. lie
(Mr. Denman) had given notice that he would on this day resume
the examinations in Mr. Kenrick's case. The witnesses were then
in atoendance, and delay might prove to them a considerable incon-
venience.

• Mr. HUSKISSON declared it was not his intention to detain
the House. lie never supposed that a question su simple could
hare provoked so moth discussion.
Mr. 111TME said that though he did not wish to Cause any un-
necessary delay, he thought his question deserved an answer. It
appeared from the [torments in the hands of the Honourable Gen-
tleman (Mr. lietitlicole) that tonnage of foreign shipping entering
our ports was in 1822, 469,000; 11123, 582,000; 1624, 7.19,000;
and last year
i upwards of a million, and this was all the conse-
quence ofinjudicious taxes on ship-timber, &c.
Mr. ROBERTSON was of, opinion that the principles of free
trade were incomplete, and that we could not compete with other
nations while loaded with. taxes. The decline of our foreign trade
was in a great measure concealed by our increased connection with
Ireland, but its decline Ira.: inevitable, since the measures of Go.
vernment struck at the root of mercantile success.

The Resolution then passed and the House resumed.
AIR.. KENAIt:K.

Mr. DENMAN said it was his duty now to proceed with that
charge which he bad commenced last Session. His intention had
been to move for a Committee of the whole House to hear the tea.
ininations; the witnesses were in attendance. But he had beard with
some stoprke that the Gentleman who was the subject of the in.
vestigation was unprepared to attend and answer by Counsel. As
for himself, he (Mr. Denman) was willing to attend, from day to
day, in discharge of what he considered a ditty devolved on him. It
was therefore for the House to determine whether they would pro.
ceed now, or defer the examination ; lie would be happy to adept
any arrangement which would snit the convenience of all parties.
Mr. DENISON rose to explain the cause of Mr. Kenrick
being unprepared ; that gentleman had supposed that the point to
be preliminarily settled was, whether the House would entertain the
charge at all. He now humbly submitted that the House would
examine the witnesses, and defer any further proceedings till
Thursday. when Mr. Kenrick would have seen the evidence, and
be prepared with Counsel.
Mr. PEEL had no objection to that arrangement, but thought
that the sooner the ramie was settled the better.
Mr. H. GURNEY deplored the circumstances which could in.
du;e the House to waste night after night in hearing stories of a
Surrey Justice and a ram's fleece, when topics of the greatest pub-
lic importance pressed for consideration.
Mr. CA LCRAFT thought it would not be consistent with sub-
stantial justice to proceed when the party was not present ; if a
little delay were material, he hoped the House would not refuse it.
Mr. BOURNE did not see the necessity of the proposed pro.
ceeding. Ile thought it best to adopt the ordinary course. It
was anomalous to proceed with the examination of witnesses on
one day. and to defer the cross.examination to a subsequent one.
He considered it better that the cross-examination should imme.
diately
Mr. W. LAMB said that the charge adduced against Mr. Ken.
rick was of such a character that he did not well see the propriety
of its introduction into this House. The best plan, in his opinion,
would be to dismiss the case altogether, and to allow it to go to the
Courts of Law, which were more calculated for its discussion. This
would be the best plan, end he could not conceive why it had not
been pursued. Was that House to be occupied with discussions
similar to the present ? If so, they would have but little time to
transact any other business. Ile did not think that it made any
difference in the case that Mr. Kenrick was a Surrey Magistrate,
because the offence with which he was charged did not really belong
to hip in the capacity of a Magistrate, but of a private individual.
Was the House of Commons to institute inquiries into matters
that ought to be shut:within a domestic circle ? On such a suppo-
sition every poor man might bring his private grievances before
that House for redress, under the pretence that he was too poor to
institute legal proceedings. He did not like that mode which re-
quired a judicial sentiment to be pronounced by a popular assem-
bly. If it were alleged that the case of Mr. Smith, of Demerara,
forn.ished a precedent for adoption, lie would beg leave to state that
there did not exist the parity which was contended for. In that
instance the House was called upon to interfere, and Parliament
had to endure a 'hocking recital which could not be heard in the
Courts of Law. 'That was the most dangerous motion that was j
ever brought into Parliament. It went to such a length as to make
that crime a niurder which was only a misdemeanor. The Hon.
Gentleman, on these grounds, which he discussed at some length.
was averse to entertain the present charge in any shape or at say
time.
3lr. BROUGHAM did not think that his Hon. Friend (Mr.
Lamb) would expect hini to follow in all its bearings the speech
which had just been delivered. Ile merely rose to refer to the case
which had been instanced as having occurred at Demerara. The
lion. Gentleman should recollect that the House had peered no
judgment on that question. But as to the evidence, it had been
said that such evidence as had been adduced on that occasion would
tint he istlini•sible In the Courts below. The fact, however, was that
all the proceedings which had been institutes! here, were founded on
the course adopted in the Courts wherein the matter originated.
Mr. Secretary PEEL. was doubtful whether, when the present
charge came before the House for the first time, it should be enter-
tained. Bat under the circumstances which had occurred since it
originated there, he could not avoki seceding to the tootiogi.

F. Lord JOIIN RrSSELL thought that the neeeSsiry which et 4
Elated for bringing this matter before the consideration of the House
arose from a principle that formed port of the law of the land. lie
alluded to the removal of Jodges farm their stations, which was to
he determined by the King's discretion. (Hear. hear.) It there-
fore followed, when a person holding such an offeial strudtion ati lie
had adverted to committed en act derogatory from the respectability
of his office. that it was due to the character of the couture to have
it investigated in that House. There was a difference eb be oh-
' served in the effect which proceedings in that House produced in
regard to such personages. In the Court., of law who• wile looked
for was compensation to the aggrieved party merely. title in this
House they lost the conaideration of' the individual in the preserva-
tion of respect forthe national character. If ?thought that the out -
feet was one of importance. end suited to the House. He should
therefore. under an Illspression of these sentiments. wish that the
hearing of the 'evidence was postponed until Thursday. In the
, mean time he would move that the charge be read.
The charge was then read r it consisted of a series of sceuentions
1 relieving those mnsactinne or
engaged enriek. the consideration of
which Parliament had been gagduring sonic part of the last
Session. Then the charge was concluded,
II Mr. DENkIAN rose, and said that before he entered the 110313
he had not entertained a notion that it was the intention of kny Ho-
-1 nourable Gentleman to oppose the mode of proceeding *Mai he had
ft in contemplation to pursue. But as he had occasion, by what
transpired on the subject since he entered the House, to doubt the
Ammer of his former supposition, he was desirous to ascertain the
matter before he proceeded any f ,rther with the motion. 'He was
not aware whether it was regular, in his present sitnation, to request
such inform-don. But if there was no deviation from propriety in.,
asking the question, he woe anxious to know if such an intehtioa as
he had alluded to did influence any Hon. Gentleman. Tht reason.
he wished for the information WAR that he should not be ;Occluded
from speaking on the points which might be raised. He did not
wish that Ms' I should be sealed in such an emergency. If it
could be doubted by any Hno. Gentleman that it was tie duty of
Parliament to inquire into and investigate the conduct of Juilco,
he was ready at that very moment to snoport the affirmative of the
question. It was entirely in accordance with the law of the land.
(Hear, hear.) If any Hon. Ciendernan dissented from this opinion,
he would state the law. He had no hesitation in saying (hat the
House acted correctly, when, during the last Sessions, it pledged
itself to the investigation of this business, and he misted' that it
would not forget its duty by abandoning the measure in its present
state. He would once more, if not irregular, solicit the information
which he had plready asked. The Hon. and Learned Genflerra-a
having waited fora short time for an answer, begged leave to move.
" That nn Thursday next this House resolve itself into a entrain.
tee of the whole House, to bear evidence on the charge against Mr.
Kenrick."

Mr. DENISON having made some suggestion, which Was in.
audible in the gallery.
Mr. DENMAN said he would alter the d2y from Thursday to
Friday nett.
Mr. Secretary PEE!, asked whether it was Intended by the Ho.
nourable and !earned (lentleman (Mr. Denman) to submit the
whole of this evidence on that day.
Mr. DENSIAN ousted that be meant to nrntluee the doeumente
which had come berme the House during the last Session. There
would be additional evidence also introduzed.

. .
Mr. W. IVY NN wished that the whole latsiness should be gone
into at once. as he could not perceive any necessity for prolonging
the proceedings.
Mr. DENISON (as we understood him) begged to move "That
a ftlessage be sent to the house of Lards, to procure the widened
of Lord 3liddleton."

CURRBNCY.
The Report on the Cnrreney was brought up by Mr. Mergelens
and the question thin it he received filletng been pot,
Mr. CALCRAT f wished to lay a few words en the subject of'
last nigh:'s debate. He audred the Helm that It was bis Wish to
be one of the majority on that °cession, if he could have been in.
duced to agree with the lion. Gentlemen who composed it. But
he was sorry that after all the best consideration which !levies able
to devote to the subject, he could not agree with his lion. Friends
who formed part of it. At the same time, however, that' he ex-
pressed, himself thus, he did not mean to be understood teethe aS-
vocate of arirpeiticular species of currency. It was his wish indeed.
to restore the country to a metallic currency, but he would not act
with precipitancy in promotion of touch a desire. Ile thought that
the progress shoold be gradual, and great care should be taken
that the poor were not sacrificed in theoretical esperimeree. A me-
tallic currency would occasion confidence, no dou a, for it was clear
that sovereigns could not he protected. But in an endeavour to
procure a metallic currency, he would never consent to throW who's
classes of persons out of ensproyment, as would be the effect of the
relent measure. He did not approve of that mode of legislation
wiffch ruched forward without any sure knowledge of circumstances_
He wished to pause until a Committee had been appointed to in-
quire into the causes Which had produced the mischief, as with suit
inforinction the proper remedy could be mote easily understood.
, But in the present rapidity of legislation it was to be imprehended
that much detriment would ensue, instead of the proposed relief.
When he contemplated the measure under consideration, he couLt
hardly persuade itinnetf of the identity of this Government and.
Parliament with those of 1822. A comparison of the two petites
a ould exhibit a strange inconsidency of conduct. When in the
year MIS it was prop:furl to continue the smell note system to
1832. the project was faeouribly received by that House, that of
the many Members who composed it only six could be found to
associate against the Fill ; anti yet the cause then assigned for im
introduction was, that the country might be brought to a safe eon.
dition. The short time which elapsed since that year (1612) had
indeed caused a wonderful revulsion in the mind of that House
but such a fluctuation of opinion did not promise very Satisfactory
results from the measure. There was another topic connected with
this subject to whist' he wished to direct attention. as it involved •
very unfair mode of treatment which had been adopted towards •
meritorious class of the community. No man alleges that the en-
culation of the country notes was the principal cause of. the distress
which had been expetienced; but still, when the distress appeares„
many persona did not scruple to turn round on those lank...-4
(whose very business it was to issue notes) and say that the gra:. d
remedy was to be found in the suppression of their issues. Thar
was very different Tiom the sentiment which prevailed in the yc • -
182.2, when the Bill of which he had spoken was introduced. It
was mentioned last night that entire manufactories were reduced to
desperate alternatives from want of a gold and silver circulation
to pay the workmen. This was a dreadful state of things. It
should also be recollected that although the paper currency et
allowed to go on for three years, that a prejudice is melted against
it in the intervel, and people are disinclined to take it. He teas
much gratified that during the last night's discussion nothine had
been said to hart the feelings of the country bankers. He d d nut
mein to deny that the country banks had not contributed in a .tro
measure to the distress; bnt he felt surprised that it was not tout
oat to be the fault of the system, and not of particular siren n.
st.ances. With as much propriety might those who m,060
such an objection find fault with trade in its various departftent$rt
for was there not a spirit of gambling and of speculation prevaleat
throughout the commercial community ? But it should not be
tn-
tarretl from the shuns to which they were now liable, that trait,
or banking establishments were intrinsically bad. lee much re-
gretted to say that 3lembers of that Hoots *ere concerned in those
speculations, and he hoped that they would account for their con-
duct in this respect before the close of the Session. In the mean
time he would beg leave to ask these Hon. Gentlemen whether
those bubbles had not caused a more grievous effect on society than
would have been produced by forty bankruptcies ? It would, how-
ever, be useless to discuss the merits of the measure further, as
gentlemen seemed (however unaccountably) to have settled their
minds on its passing. The division did indeed surprise him ex.
eeedingly, for he could perceive that the sentiments' of several
Honourable Gentlemen were favourable to Ms view of the
matter, though they continued to vote strongly on the oppeeite
side. He hoped the proceedirgs of lut night would turn
out better than he augured. He wished for an inquiry, as he
attributed the distress to Government, to the Bank of England,
and something to the country banks. Ile should have ?commend.
eel some suspension of the measure, to know how things were to be
settled. The mode now adopted was similar to the conduct of a
man who proceeded to rebuild his dil ,pidated house without pre-
stinted), removing the rubbish. The Right Hon. Secretary for the
Home Department had said ••• now or never ;" he, however. denied
that '• now" was the time, on account of the distress, though he
would not say " never," because he wished for the metallic cur-
rency. The Ministerial reason for hurry, however, is that the
country banks are nor now so capable of making an opposition.
Why would not three months postponement be granted by those
who extended the system to 1813 ? The country bankers were guise
inclined to get out of the small note system, but they were unwil.
ling that the time chosen for the purpose should be when the pre-
judice wee in existence. But let Honourable Gentlemen von
agairst conviction as they pleased. He thought that the country
bankers had nothing to apprehend from the proposed joint.etock
companies. After the panic shall have passed away, this will be
experienced. They do not suit the temper of the country. 110
hoped " • Gov..- ` would relieve •' Bank • - thraldom,
and 1.

. ,
hoped that Government would relieve the Bank from it; thrildoni,
and allow it to extend its benefits to the country. It was. as his
Honourable Friend (Mr. Baring) had said, almost completely
choked up, instead of having the ability of supplying the country
with gold. He had no doubt that when there was a wellfounded
demand for gold, or any other thing, the supply would follow.
Mr. H. GURNEY observed that a great difficulty rusted in
many counties to maks any payment at all. The Chancellor of
the Exchequer's statement that the country note circulation
amounted to six millions, was fallacious. There was in fait no
possibility of supplying the want of the metallic currency. It was
his idea that the Bank of England notes should be substitutell for
the country bank notes. lelitig that this proceeding. was VOW.
he should take occasion to move an amendment, the object oft!thlitia
wee, that the words in the resolution, regarding the cessation the
circulation of Bank of England one and two pound notes, ld
be omitted. To the want of silver were to be ascribed an lisitorrlo
experienced. The country should be flagged with eilve'r
Mr. E. ELLICE whaled. as be had voted lewi sighg.,...ii fa.
your of the measure. to mate his reasons. His the
statement of the various evils derived from the Glaser ~
V"the Bill of 1818 was in agitatioot he ".• " a
Nreidatwe
diibliott, because he could NM I "M. Pinola is . hem
Is his wishes to return to • ift.lemuiC . has .
he desired to know, hod Woo elm conappowd
. ,
_____....iiiiiilllllllllllllllllllllll

From the Resolutione which had been adopted by the (louse,
relative to the necessity of a return to a metallie currency
at the close of the war ? In every` single instance iu
which they had departed from the principles contained in
these Resolutions, whatever temporary convenience might
have been thereby gained, mischief had been occasioned, be-
cause every such instance had placed them farther from the ob-
ject which it was their purpose eventually to attain and he feared
if the measure now before the House were to be postponed for an-
other year, it might as well be giver up to despair and abandoned
tot ever. dtt three several periods the country had been deluged
with a paper circulation. In 1813 and 1814 an immense quantity
was afloat, in consequence of the then circumstances of the country.
In 1817 and 1818 the country had also been in a similar state, in
consequence ot the scheme proposed by a Noble Lord, now in the
other House. by which every nom was to be a guinea the richer. In
1824 and 1828, the third period to which he referred, there was also
a large paper circulation in consequence of the re-issue of one and
two pound notes. Ile would contend that the year 1816 was the
proper time to have returned uneemetallic currency, because in that
year there had been a great inildittbf gold into the country. In eon.
sequence of the vast export trade which st that time was carried on.
He might be told, in reply, to ;look at the exports of last
• year, sod then say if the preset' year was not as fa-
vourable as 1816. He would rtply at once in the negative,
fur however great might have been the exports of last
year, they were not paid for—a large portion of what should have
been returned in lieu of thaw exports had been lost in foreign loans;
and it should also he remembered that there was a thud failure of
remittances from South America for the goods sent thither. It was
011 very well in argument to deal largely to general principles end
to talk of great ',tactical men of business, but basing listened to
the theories and plans of those who pasted for mss of information,
and having himself paid great attention to the subject, be yet at lost
telt convinced that the Haulm was celled to legislate upon a
subject upon which it was certainly in a great measure ignorant.
Kull he would contend that that oat no reason why they should go
an with a paper currency. 'rimy should, 114 soon as possible, re-
turn to payments in an honest standard, and if. upon a future day,
they should be unable to meet their engagements in a metallic
currency, it would not then be too late to apply a remedy by a tem.
posary issue of paper. Such was his view of the subject, and upon
these grounds it was that he gave his support to the measure under
kits c,olisideneihn. In every instatice where a paper currency had
been resorted to to relieve the distress of the country at any parti-
cular period, although that might have been effected, yet the
ultimate object in view was removed farther from their grasp.
There watt no doubt but that country bank Dotes had a great sheer
In producing the late preaaures by increasing the circulation beyond
its natural extent, but it was impassible to calculate or compare
the relative share which they had in doing so with that of the
issues of the Bank of England. With regard to the situation of the
Bank of England. he thought it was not so much to blame for
hating increased its issues, fee he was aware that its channels had
been more elngted than people were generally aware of. They held
exchequer bills to the amount of 700,8002. which they could not
Nell, unless they had other than Government seatrity, without con-
aiderahle loos. They had also issued lamely upon private paper
during the recent struggles, and they had been also compelled to
advance largely upon mortgage. (An Honourable Member here
observed." not by compulsion.") lie had bean told by a friend of
hie, a Gireetor, that to speak plainly it amounted to compulsion.
It was not a measure resulting from their thee will, but one which
had Keen premed upon them by Goveentnent ; neither had they any
wish to purchase the dead weight. He did not therefore blame the
Bank fir the over-ism, which they had in a great measure been
compelled to make, beearte he felt that they were in a difficult shut'.
atiun. and between contending parties had a difictilr card to play.
When the Bill of 1819 had passed the House. the Bank professed
its ability to return to rash payments, if Government would par
bask ten millions out of the nineteen millions, in which sum the
letter was indebted to the former; yet now both were in the
same relative potation, and it wan said that cash payments could
mot now he resorted to, when the debt due at the present
period was lean by one million than at the time to which
lie had alluded. The reduction of the interest upon the
motley lent to the Government, and the increase of country bank
paper citculation had been the great cause of over-trading
throughout the nation. When money was thus reduced in value,
the immediate consequence was that nothing could be heard of
but Austrian loans. and Buenos Ayres loans, and Chili loans,
until the money. which ought to be in circulation, was exported
from the country, which was conscoaently thrown into those diffi-
culties from which all persons were now so •naissie to have it ex-
tricated. The Member for Northampton attributed the absence of
the gold to the hubbies which had so recently been afloat, but he
could assure the Hon. 31ember that very little gold went out of
the kingdom. In the prosecution of those rchenies it might have
changed hands in large quantities, but very little bat, left the
country. At all events he was convinced that Parliament would
not do its duty to the country if it did not take the state of the
currency ipto Its immediate consideration. What would be the re.
suit if a war should break out while the circulation of the country
was in its present deranged state? The Hon. Member for Aber.
deen (31r. Hume) had said that the country could not go to war
older its present difficulties. He thought the proposition of the
Honourable Member absurd, soil contrary to the evidence which
was affewderl even by the history of our own times. Had not
toe French gene to war while in a state of actual bankruptcy I
lie (Mr. Hume, supposed the country to be so poor as to
invite an attack; but did he ask himself the question as to
whom this money was owing? Was it not to ourselvew ?
A war might certainly, under the present circumstances, be pro-
ductive of great inconvenience, but he believed, notwithstanding.
that the country would still remain entire. The great object in
view at the present moment was, to prevent a recurrence of the
recent calamities, and if they did not proceed to legislate then, they
woeld rind the subject, every time they approached it, surrounded
te:th greater difficulties. He had recently moved for some returns
of pupegs, which would prove that the vacuum in the country cir-
culation had been already in a great measure supplied by gold.
The papers to which he alluded were those containing an account
cat the quantity of gold sent into the country during the late panic.
He was of opinion that no extension of the banking system would
unse from the concession ot its chartered rights so liberally sc.
cooled by the Risk ; for as there was no limitation of the liability
of the partners to the extent of the capital embarked. he thooght
e,,it le . men of fortune would risk their properties in banking
MAW -tents, which might at a blow swallow up their whole
estates. Ile now came to another system of banking, upon which
he wished to offer some observations, and he could not avoid inst.
mg his belief', that if any inquiry had been instituted up stairs
into the poseeedinp of the banks in Scotland, the mismanagement
there would be found to be much worse than in the conduct of thaw
in England. The history of the proceedings of these banks was
shortly as follows t—aVhen the hinds were low, they bought with
the stems which had been deposited with them, and if a sudden
rise took place they sold out, and cleared large profits by this
species of good management: They had not the same means of
making use of their deposits as in London, and therefore they could
ot.ly place their money in the fund.. or else lend it upon bills of
two years' date. If a period of difficulty occurs, arid if they are
called upon for tl:ese deposits. they will nut sellout of the funds at
a lam, and they cannot get cash for their bills and the consequence
bee been, that the commercial tnirsactions of Scotland stood still foe
want of a currency, as was the case at the present period. Ile hail
always doubted the propriety of collecting large menses of
wealth into one focus, as would be the case if joint-stock banks
were established ; and as regarded the currency lie had a still
rester objection to it. With respect to the measure before the
House, be was of opinion that they must decide at once upon
going on under the present system, or else put an immediate end to
it. No time was more proper than the present to grapple with the
difficulties by which the subject was surrounded. It had been
observed that the Rank of England Notes might be made to put
down all others, but what greater security could the country hare
that the Hank of England could pay in )lold, than that the corn-
try bankers could do so ? Th.ir secunty might be better as regarded
payment, but not as regarded payment in cash. Country hankers
might give security, but they could not give security to pay in
gold, and therefore all such eerurities must be held to Re ins.
aponsible, vicious, and unavailing. Why was not the measure, he
would ask, applied to Scotland? The principle as regarded both
countries was the same, and one million and a half of coin would
be stiffiaent to supply the circulation of that country. He wished
the House to consider the difficulty of continuing the present sys-
tem in Scotland, after haring abolished the paper currency of Eng.
land. If they did so, the consequence would inevitably be, that
the Scotch paper would banish the gold from the northern counties
rat England. Still he thought that it was not advisable to tallow
at: pre-cm metsure in jeopially, by attempting to include in it the
cirealetion ol Scotland, which might, perhaps, raise further omen.
anion to its progress. lie would next call the attention dl the
House to the principles of free trade, which it seemed to be the in-
tention ot hie Majesty's Ministers to persevere in. He was at a loss
to conceive how they could do se, while the circulation of,
the country was in such a fluctuating state. As the currency In.
creased the prices of all the necessaries of life increased with it,
and upon a sudden contraction of the circulating medium, down
a mid go the prices; but another consequence would be that a
number of people would be thrown out of employment. While
thus state of the currency existed it was impossible to carry into
effect the principle, of free trade. He was aware that !Ministers
had much upon their hands ; amongst other important matters
was the silk wade. This trade was peculiarly affected by the prin.
ciolts of free trade—principles which it was nonsense to totems?' to
carry into execution until the people of this country could eat
bread at the same price as the inhabitants of other European coon-
tr.es. Until that period arrived he felt convinced tint iilinisteri
could rot carry those principles into execution without or-
canoeing an extent of distress which he was certain they hail
not the smallest idea of. He would next Ray a word or mons
to the operation of the currency upon the price of provisions.
During a period of three hundred yeses prier to 1797, at Which
time the Bank restriction Act took piece, the prices of provisions
in this country and other European nations were nearly upon a
par, and if it was possible to bring the currency back to its former
potation (lie did not know whet effect a very' pros,ptirtAte state of
things 'night occasion, but) he thought the prices of provisions
in England could not vary in any very material degree from
the price they sold at in other countries. He was of opi-
nion that the landlords ought to be contented with moderate
pries ; for if it should happen that the Corn laws should come
IMIO operation, he was cerwan that no persons would he so anxious
to tepeel them as the landholder themselves. The very arrum.
motive ado* coming into operation would amount pro tanks to,
the repeal of those laws. This was one reason why he should vote
fern the Trammell before the (louse. It was rather singular that
altar eleven yests t 4 race, during which no event transpired
winch could disturb the tranquillity of the coming, that suddenly
the funds should fall from 98 to 74 per cent., and thus while the
foots of other nations were unaffected. Such a rate of things, it

not pet a atop to, must have the effect of sapping the very roots
of public credit, although eventually it must be apparent that no
Government whatever had such a portion of honesty, integrity, and
firmness, to give Its funds character and weight as England.
All other nations had been bankrupt, end would be so again. in
his opinion, unless. indeed, this country lent them money. The
' Hon. Member concluded by declaring that be would give his ut-
most support to the motion,
Air. T. WILSON then rose, but owing to a noise in the. House
we lost the first sentence. Ile sant that the object of his thing was
not to answer the lion. Member who had just sat down, nor to op-
pose
the measure before the Mouse; but to state that what he had t
said on the previous night had been in the course of the slay con.
finned, by the fall which had taken place In the funds, rind the
failures whir h lid been talked ores likely to take place, and which,
if true, would be distressing to an extent beyond what could be
imagiced. Ile would therefore take the liberty of asking the Right
Hon. Gentleman (the Chancellor of the Exchequer) if in perse-
vering in the measure before the Howie, his Majesty's Ministers
were prepared to say 'timber any measures were in contemplation
for the relief or the mercantile distresses of the kingdom. It should
be mmembeted that the mercantile bodies, however wild and vision.
wry might have been their schemes and their si eculatione, had yet
been led to embark in them by the low rate to which the value of
money had been reduteed by the measures of Government; and it i
shou.d also be borne in mind that they had a right to dispose of
their own property as it hest pleased themselves. Ile believed that
Ministers under these circumstances would hardly turn round upon i
the traders of a country which was purely coniniercial, and tell I
them that they were fools and blockheads not to have foreneen the ;
impending evil, and husbanded their resources to meet it. lie i
came then to the House on the behalf of the merchants of the City
of London, and of other ports In the Kingdom, claiming relief at
the hands of the Government. He had always been proud of sup-
porting his 31ajessty's Ministers, because be thought they were
good pilots, and weathered many storms; but lie much feared that
the vessel in which they were now about to embark must be inevit-
ably loot. The cotton merchants had been particularly un 's rt mate,
they had bought goods at 12d. per lb., which were nowmnly worth
6d., because a market was not to be found for the quan hies upon
hand. In the year 1791 Government lied • precedent for acceding
to the wishn of the merchants of the present day. At that time
Government had authorised the advance of fifty per cent. upoh the
security of the gouda, and a similar indulgence was sought in the
present instance—an advance upon DO qnestionable security, but
upon solid property. To this request he trusted the Eight Hon.
Gentleman would give a reply.
The CHANCELLOR of the EXCHEQUER then rose and
said that the lion. Member had put a question to him, which ass i
of such serious importance. that he was anxious to give an imme- 1
diate answer to it. It was to him a matter of regret that his lion.
Friend, who had contributed his share in conjunction with those
w!.o had supported those measure which it was now said were the
Causes of the recent distressed state of the country, should
have attributed to him as a reproach, that he had not weathered
them through the storm ; but surely in their eyes lie
ought at all events to stand vindicated, for they had approved
of those very tneasures when originally brought forward for
the approbation of the House. For his own part. hr had
learned something from experience, and he was convinced that
the present stale of things was not to be attributed to those general
principles noon which those measures were founded. The Hon.
Member alludes! to the course which had been adopted in the
year 1793. Upon that omission, the mercantile interest., of the
country being in a state of extreme embarrassment, Government
had appointed two Commissioners for the purpose of advancing
exchequer bills upon goods within a certain portion of their value.
Government, he fel,, had on the present occasion a painful
duty to perform. However anxious they might be to afford
instantaneous relief to the persons involved, yet they were
bound to look forward, and consider. not only the immediate
effect, but the ultimate consequences of doing so and the
future evils which might result from such a measure. The Go.
vernment might, perhaps, he charged with a want of sensibility,
and even with a want of knowledge and understanding, in not
paying immediate attention to the representations which had been
made to them upon the subject on which the lion. Member had
applied for information; but it was the bounden duty of his 31a.
jeety's !Ministers, while examining the representations as to the
actual distress existing, also to examine if it was proper to give
immediate ease by any particular proposition, and to bind up their
corporal agencies to resist such proposition. if they should deem an
opposite course more beneficial than disadvantageous. He could
not bring himself to a compliance with the proposition. The lion.
Member had referred to the year 1793; and other cases also might
have been adduced, in which the House had granted a species of
relief under circumstances peculiarly distressing. in 1793 the na-
ture of the distress then existing was exceedingly different from
that of the present period ; the main circumstances that produced
those difficulties were the state of the external politics and internal
dissensions of the country, or at least those difficulties which
amuse from the apprehension of internal dangers from invasion.
These were cases which had something peculiar in their character.
and would not afford a precedent for advances of that description in
other cases ; but the very nature of this ease was the circumstance
of ovettreding, which led people to the purchase of goodt at enor-
mous!y high prices, which could not by possibility, according to
the Hon. Gentleman's own argument, be realized. If they were
to follow such a course upon this particular instance, he did not
know what case could occur in which they should not be called
upon to make smiler advances by a parity of reasoning ; and then
he should like to know by what process of legislation there would
be any hope that fluctuations of this kind might sot be constantly
recurring, because any man might be tempted by the hope gain to
speculate rashly, args log to himself, that although he might be
dealing only in waste paper, yet he knew that he had that resource in
the feelings and practice of Government, and in the prece cents of
Pailiament. which would indemnify him. This was no individual
or personal application—it had nothing to do with any particular
ircividuals ; hut he was bound to say, that he thought a cont.
pliance with the proposition of the Hon. Gentleman would lead to
consequences more severe, more injurious, and more prejudicial to
this country, and undoubtedly beyond the advantage of any
temporary ease that could vanish from it. He was, therefore.
bound to say that his Majesty's Government could not
acquiesce in that proposition. If any temporary relief could be
afforded by the issue of notes, which might through the ordinary
channels reach those who were distressed in consequence of the
Pressure in the money market , by the absorption of the interest on
Exchequer bills, that would be another question. He did not
profess or pretend, indeed it would be nonsense to pretend to effect
great objects by small means, that this would render any very great
relief; but andoubtestly he did believe that some means of aseistance
would be given if the Bank felt disposed to adopt it. I ram Government
would in this instance teed it to be its duty, in the course of the
present Parliament, to provide for the repayment of the advances by
Exchequer bills, He did not see in what other way the Government
could at all afford assistance to the commercial interests. He was
sensible of the support which his Majesty's !Ministers received
from the lion. Member, and he regretted the possibility of his
withdrawing his confidence from them. He should regret the loss
of the lion. 3lember'a confidence; but if it were only to be pur-
chased by an acquiescence in the measure proposed by him, bereaved
it would be bringing a more serious mischief upon the country than
they would be justified in incurring.
Mr. 'l'. WILSON explained. His confidence in his Majesty's
Ministers was in general unimpaired; he had intended his observa-
tion to apply only to the present measure.
Mr. BOBER TSON ascribed the present state of the country to
the madness of speculation, which, during the last Session of Par-
liament, had been encouraged by his Majesty's Ministers refusing
to listen to entreaties of a numerous portion of the Members of that
House to interfere and prevent those Bills for establishing the
various Joint-stock schemes passing into laws. It was by the re-
peal of the Bubble Act, and the silence of his Majesty's Ministers,
that those ruinous speculations had inundated the country. As
the Government had refused to prevent these evils, they were now
doubly called upon to give assistance to the country by some jun-
mediate pecuniary advances in the ',time of Exchequer hills. He
was now free to confess that this would be but a partial relief, if
confined to the commercial body, and would afford but little aid to
the manufacturing class, which was the next in importance. This
country had been a commercial as well as a manufacturing one;
but from the laws which had brought the commercial body into an
unfair competition with foreign countries, profits could no longer
be realised, and our merchants were now merely nominally such,
being in fact nothing more than agents, who, flow the itnpossi.
bility of disposing of their voile. were Incapable of rendering any
assistance to the manufacture ; and the consequence was, that the
latter were daily discharging their men, whose distresses were
rapidly becoming worse and worse. By the issue of some Ex-
chequer bills at this moment the Government would be able to
arrest this calamity in its progress. Should the present distresses
be allowed to continue, the whole evil would eventually fall upon
the landed interest, by an extraordinary stiminutkm of demand for
amid' enf necessary consumpticn. He hadno heeitation in asserting,
that if his Majesty's Government did not come forward to assist in
restoring the confidence in the coun try the landed interest would be In
a worse state than in the year 1816, and that before the expiration
of this year the landlord would find it impossible to obtain a single
shilling in the way of rent. The hunger the evil was permitted to
go on, the greater would be the difficulty to extricate the country
from thai gulf into which it had been plunged. Timere was not at
this moment sufficient capital in the country to revive its wonted
state of prosperity; therefore the advance of some exchequer bills
would be a most seasonable relief. He was an advocate for cash
circulation, but it was the moment that had been chosen to pro-
mote it that had induced him to oppose the measure. Ile would
encourage the circulation of the country as much as possible, that
the manufacturers might get relief, issuing exchequer hills and
encouraging the circulation of money for a time would stlect the
moat essential benefi.s to the country. lie was not one of those who
thought that if the House did not adopt time measure at present, it
would not be able ever to do it. After the depression that existed
was ova, then would it be time to enter upon cash circulation. lie
called upon his Majesty's Ministers to reflect upon the consequences
that would follow the precipitate adoption of this measure. Ile
did not hesitate in dtelaring that in his opinion the peace of this
country would become endangered by the perseverance iii the course
which his 3lajesty's Ministers seemed now determined to psmsue.
Sir HENRY PARNEGG, while expressing his approbation
of the measure proposed by the Chancellor of the Exchequer, could
not refrain declaring that the House wotuld, in his opinion, be
ssurering themselves to adopt a great delusion, if they thought this
measure alone would efii:et what his Majesty's Ministers thought
it was capable of dolo Looking at the effect which the Bank of
England had produced In the country by the extensive influence it
possessed over the state of the circulatiog medium, it appeared to
hint utterly isiipossilife that Mere could be a complete system of bank-
ing ests;ulished until that great power whichwas poasessed by the
Bank tit England was got rid of, eimecially those exclusive privi.
1 hg e. it enjoyed.. It was ;medalled,. striking that in the eouese of