The British Press; or, Morning Literary Advertiser.
London, England, 1826-02-10 00:00:00

THE BRITISH PRESS.

prevent irresponsible speculation in such concerns that should be
merchant bankers. He thought that the objections taken to the
circulation of small notes were without ground, futile, and,
to contract the issue of those notes inefficient to produce the results
anticipated from such a measure. If the issue of small notes had
such a bad tendency, he would inquire why the issue of large notes
would not have a similar effect. If the issue of the former was pro.
duetive of distress (so justly and so loudly complained of ). He
could not imagine by what analogy of reasoning it could be con-
cluded that the issue of large notes could not be attended with the
least Injury. Whatever might be the cause of the present coin.
mercial distress, lie was quite sure it could not be attributed to the
issue of small notes. If he wanted any arguments he had been
furnished *ith them by the Noble Lord opposite. He stated that
• return to cash payments would not be sufficient to remove
all the difficulties that had arisen. It would at least be pro.
ductive °teems good, but for his part he thought they should strike
at the root of the evil. lie knew that the arguments of the Noble
Lord would have more weight with the Hotta, than any he could
offer to their consideration. It was notwithstanding extraordinary,
that in the year 1793, when much commercial embarrassment pre.
vailed,and when • violent convulsion took place in the money trans.
actions of the country, when a want of confidence in the stability of
banks was in every respect as great as was the case a short time
since, and when not leas than one hundred country banks stopped
payment, the Government issued exchequer bilis to meet the eel-
gentles of those bankers, and to cure ttte commercial evils of the
country. In that case cub payments were not thought the best re-
medy for the distress, which was quite as general and alarming as
the present. In Scotland the circulation of small notes was not
found to produce such evil. That country IN 11.1 exclusively exempted
from the distress which had visited the commercial interests of this
country, and that exemption was greatly attributable to the ex.
tenslve circulation of small notes, which was encouraged in that
country. Ile would never consent to any measures which would
contract the issue of those notes. From the effect of these issues in
Scotland he had every confidence In the benefit to be expected from
continuing their circulation In this country. That country had
been for thirty-five years free from any prominent commercial diffi.
culties. He would listen to the lessons of practical experience in
preference to any theories, however specious, and he confessed he
looked with much diffidence at this measure which came out of
the hands of those who were deeply interested in its success. He
did not know upon what grounds they could surmise that the circu-
lation of one and two pound notes was the cause of the present
difficulties. At various peritals such difficulties had taken place.
When the South Sea scheme was in full operation, he would ask,
was there no convulsion—was there no difficulty experienced by
men of business, and yet no one or two pound notes were then in
circulation, and very few country banks were then established.
The currency in 17112 and 1793 was changed without pro-
ducing arty dangerous consequences. Immediately after the war
the Bank gave notice of their intention to return to stash pay-
ments ; but this was far from giving stability to the commercial
interests of the country there were numerous failures. The issues of
the Bank of England were at that time contracted; to remedy the
distress that prevailed, it was not thought advisable to revert to
cash payments, but to extend the circulation of the paper currency.
After the shock which the commerce of the country had experienced
in all its branches, no danger of too great enterprise was to be ap-
prehended; there was now no very buoyant spirit of speculation.
and no far of ovvr.tracfing could be reasonably entertained. He
meld not in any view of the case justify the measure which was
proposed fat adoption; he thought, that instead of contracting
their lames they should extend them. The evil was not that there
was a deficiency of gold in circulation, but that there was no elect'.
tion at all. We were told that care should be taken that the in.
tercet of money shoold not be too great in an imperfect stare of so-
ciety and where commerce has made but little progress, the inter.
rest of money is proportionably high, but when commerce flourishes
the interest then becomes low. Should they now, with the enor-
mous burden of the national debt pressing upon them, return to
cash payments, they would entail much distress upon the country.
At present they could not revert to cash payments without increas.
Mg the value of gold. (llear.) Before twelve months had elapsed
they would discover the consequences to he most injurious and per-
nicious, if this measure is carried into effect. they met next
year they might consider themselves very fortunate indeed, If the
Government of the country could tell them that the taxes had been
sufficient to defray the expenses of the year. (flew.) In addition
to the motion which had been made by his Noble Friend, he would
move that " a return should be made of the number of notes issued
since the year 1790." Ile wished to obtain all the information pus.
s!ble on this subject, and his chief object was to have as enlarged a
view of the subject as he could collect from every source that was
open to him, and to place the whole question before the House. lie
thought that contracting the fumes of pneer currency would be very
detrimental to the agricultural interests. it was the paper currency
that fostered agricultural prosperity. By the returns he now
moved for it would appear how far the principles laid down in sup-
port of this measure would be strengthened by the experience of the
years 1793, 1795, and 1796, when much commercial distress pre-
vailed. He was confident that the country could not bear a return
to cash payments.
The Marquis of LANSDOWN explained. Ile said that he
would not press his motions on the House, if any opposition was
offered to them on the
_part of Ministers or the Bank.
The Earl of LIVERPOOL said that he had no objection what-
ever to assent to the motions of the Noble Marquis, and he would
undertake to say that no opposition would be offered on the part of
the Bank.—The motions were then agreed to.
The Earl of LIVERPOOL gave notice that he would bring in
• Bill for the renewal of the Bank Charter on 3londay next, which
would be then read a first time ; and that the House would be
summoned for Friday sennight.
The House then adjourned to to-morrow.

MOUSE OF COMMONS, Tu U RBDAT, Frs. 9.

There were laid on the table the Account of Allowances and
Compensations granted to Officers of the East India Company ;
Returns of the number and value of country bank notes in circula-
tion during last year; and Copies of the Communications which
passed between the First Lord of the Tritium, the Chancellor of
the Exchequer, and the Governor and Company of the Bank of
England.
LIVE RPOOL AND MANCHESTER RAILWAY.
General GASCOYNE presented the Report of the Committee
on the petition for a Liverpool and Alanchester Railway.—Leave
given to bring in a Bill.
General GASCOYNE presented a petition for buildings French
Church in LiretpooL
The Rill for Improving and lighting Liverpool was read •
second time.

BIRMINGHAM AND LIVERPOOL CANAL.
Lord CLlVEiresented a petition for making a navigable Canal
between Birmingham and Liverpool.
Mr. S. IVOR LEY, on presenting a private Bill, made some
'interim on Committees. We understood him to say, that It was
the duty of Committees to examine whether the standing orders of
the House were complied with, but not to investigate the facts
which involved the merits of the petition t and the lion. Member
concluded with moving, that a Committee be appointed, whose
duty it should be to inquire in what circumstances the standing
orders of the House might be dispensed with, and to report the
satne.—Agreed to.
NEW CORN EXCHANGE.

—„ .... .....
The Bill for erecting a new Corn Exchange in Mark-lane was
read a second time.
ABOLITION OF NEGRO SLAVERY.
-

Sir C. presented apiTtiCi;nftomti7eu;;rn of New-
port, praying fur the abolition of slavery in our West Indian
Colonies.

Mr. WINDHAM presented s petition from New ;;.rum, to the
same diet.

IMPORTATION OF FRENCH SILKS.
Slr C. DUNDAS presented a petition from a town in Berkshire,
against the importation of French Silks.
, MUTINY AT BARRACKPORE.—COUNTRY BANKS.
Mr. HUME begged leave to postpone his motion relative to the
Mutiny at Rarrackpore, which was fixed for the 23t1 February, to
Thursday, 21st March. There was another measure which he
would lay before the House, which, from its general interest and
importance, would meet, he was sure, with universal acquiescence.
He would move for a Return of all the light-houses in the hands
of individuals held by lease, or grant from the Crown, together with
names, rents, and periods of tenure, distinguishing those which
were regulated by Act of Parliament, and 'gating the amount of
tonnage duty levied on shipping by the proprietors of those light-
houses. The lion. Oentletnan, while on his legs, would also move
for a return of all the Banks in England established, or carrying
on business, since the month ofJanuary, 1818, which had since
failed, stating the places in which they were established, the names
land number of the partner., and the amount of debt claimed in
each instance. Ile was sure no objection could be made to a pro.
position which had for its object merely to show to what extent the
public had suffered. This measure seemed st necessary prelimi.
nary to the discussion which was shortly about to take place. The
loss which the community had sustained in the late distresses could
not properly become an element in the calculation of new immures
until the actual amount of that loss were previously asce•tained.
Mr. OR EN FELL approved of the Hon. Gentleman's motion,
and wished to know whether he had any objection to include Scot-
land
in its terms. He (Mr. Grenfell) believed that the returns
from that country would surprise the House, by exhibiting the great
comparative stability of its banking establishments.
Mr. HUME had no objection to accede to the suggestion of the
Hon. Gentleman, and to include Scotland in the terms of his
motion.

Mr. MABERI.Y rose, in ordn to ask the Hon. Gentleman who
brought forward this motion, how, or were, he Imagined that Get-
vernment could find the documents he wished. It was not coulee.
tent for the House to enter into the investigation of private con-
cerns, that house had no cognizance of debts ; and would it not be
a most dangerous precedent, if they were to proceed, at the insti-
gation of any .Member to ransack and expose the private affairs of
obnoxious individuals. Ile hoped the Right Hon. Gentleman op.
polite would not concede anything to a proposition equally dan-
gerous and informal. No one could be more anxious than himself
to improve the commercial system of the country, or to check the
evil arising from unlimited credit ; but he was decidedly adverse to
any measures that pressed upon the unfortunate, lead to unneces.
sary exposures, and deviated so far from the ordinaty course.
Mr. J. SMITH observed that It ought not Ito be forgotten, that
however severe such a measure might appear to individuals it had
for its object the interest of society, and on that account he would
lend the motion his aid, as far as it went. He was sure it could do
no harm, but would furnish valuable materials to the future deli.
()nation' of the House. There was another subject on which he
wished to make a remark to the Right Honourable Gentleman (the
Chancellor of the Exchequer). It was only that morning that lie
read the correspondence which lately taok place between the First

(14morTeleyonfotrhoef Tgeas üßrayn, k t4htc
wool surprised to find the finvernment uniformly avowed and 'neut.
e
cated the opinion that the country hanks had all encouraged and
England Chancellor,
a nodf inth e
that E
t-ich
trel rea fuieorn. cle andnce t Ihi ee
fostered that miachievous spirit of unbounded speculation, to which
Ministers ascribed all the subsequent commercial embarrassment.
This declaration was equally dangerous and untenable. It was a
censure levelled at many persons, end wanting any proof to support
it. Did the Right Honourable Gentleman suppose that all the
country bankers of the kingdom were devoid of prudence, honour,
and integrity? He was sure of the contrary. Ile knew many of
that body who were men of eminent abilities, and superior to any
imputation. He wondered bow the Right Honourable Gentleman
could have wandered into so wide and sweeping an assertion, and
what evidence he could adduce to laupport it. He was therefore
glad that an opportunity was now presented to the Right Honour-
able Gentlemen of explaining himself, and of retracting the asper-
sion so inconsiderately cast abroad, or at least of stating his reasons
for directing the public odium on the whole body of country
bankers.
The CHANCELLOR of the EXCHEQUER had no objection
to the motion of the lion. Gentleman (Dlr. Hume), and hoped that
it might be rendered effectual without containing anything to offend
those who were jealous of inquiry. Such a motion could not con-
vey any imputation on those who had nut failed, and as to the rest,
he was sure the Hon. Gentleman would consent to alter the words
of his motion so as to consult the feelings of the parties whom it
affected. He conceived that the place might be omitted ; and per-
haps some other circumstances, which mtght prove prejudicial to
individuals, without materially serving the public object of the 611.
Lion. With respect to his correspondence witliplie Bank, he bad no
objection to satisfy all who felt concerned at the language he had
employed; and he assured the lion. Gentleman, that reline he con.
demned the general practices of the: country banks, be did not in.
tend to convey any personal imputation. He believed, if the lion.
Gentleman would recal to his memory what lie had said a few
evenings before, with respect to the means resorted to by country
banks to increase the circulation of their paper, he might easily
conjecture, to what practices of the country banks, he (the Chan-
cello,. of the Exchequer) objected, practices, which however objec-
tionable, appeared absolutely requisite to carry on their business.
He objected to the system of country banks, not to the persons en-
gaged in them, and that system he must continue to denounce,
whatever respect he might entertain for the individuals connected
with it. Ile intended no reflection on their honour or integrity,
nor did he mean to upbraid them in a peculiar degry;e, as authors
or promotors of die late pernicious speculations. But yet specula.
non was inseparable from the business of a banker ; every one who
gives credit exposes himself to a risk, and is necessarily to some' de.
gees a speculator. Ile meant them to censure a system that
carried with it so bad a tendency, and exposed us to all the dangers
of uncircumseribed credit, but all personal imputations were far
from his mind, he should be ashamed of himself, if he had uttered
them and assurred the House all condemnatory expressions he
had used were to be applied solely to the banking system.
Mr. CA lAIR A F'f was most happy to hear the explanation of the
Right Hon. Gentleman, but at the same time, when he heard him
deplore so seriously the rash spirit of speculation, he could not con.
ceive how the bankers, whom the Right Hon. Gentleman con-
sidered as the most important accessories to it, if not its authors,
could stand so high in his esteem. But, however plausible the
Right lion. Gentleman's opinions might be, he (Sir. Calends!)
denied the fact on which it rested for support. How could the
House suppose that the appetite of speculation was fed by the
country banks. Could they have supplied the 17 millions celled
forth by the recent speculations, the renter part of which had
been paid in town. Every one knew, that as soon as the paper of
country banks appeared in town it must be cashed, or the batik at
which it is offered is dishonoured. It was therefore impossible
that the recent speculations should have been aided to any
extent by the country banks, although, some of them' perhaps
might have pushed their spreulatious too far ; nor was there much
to be apprehended( tom the imprudence of bankers. There is hardly
a neighbourhood in England where there are not two or three banks.
Their own interest obliged them to seek good security, but if they
lent or discounted with too little circumspection, their rashness
could not escape the vigilant eye of the public, who in the multi-
tude of banks could easily transfer their accounts where they bad
reliance. Thus the ills of flocculation could not be traced to the
couittry banks, nor yet did he mean to say that the bankers were
incapable of any thing that was wrong. Ile did not believe that
they were all honest or riptide men, but he thought they were as
little liable to imputation as any other description of men. With
respect to the terms of the motion, the Hon. Gentleman observed
that the return of names and places could not materially hurt those
whose names and residences had already appeared in the Cavite.
He concluded with lamenting that the Right Hon. Gentleman
should himself contribute so much to the evils of paper credit by
the quantity of his accommodation paper which he kept in the,
market. The Exchequer Bills issued by the Right Hon. Gentle-
man wrought more mischief than the paper currency of country
banks, and these bills were issued now by the Right Hon. Gentle.
man, while he flattered himself with the delusive idea that the
commercial distress was now completely blown over.
Sir J. WROTTESLEY wished to say a few words in 'indica.
tlon of country bankers. He considered this discussion as in some
measure an anticipation. The motion of the Chancellor of the Ex-
chequer to-morrow would allow an ampler opportunity for all par.
dry to explain. lie would at present only say that he considered
the country bankers rather as th.. victims than as the authors of the
speculative mania.
Mr. R. H. GURNEY was inaudible for sometime in the gallery.
As soon as we could hear the Honourable Gentleman, we under-
stood him to say that the Scotch Banks, which had been so much
commended in that House, bad lent as much assistance to epeeist'.
tion as those of England. lie contended that the proposed mea-
sure of his Majesty's Ministers would go to cause an increase of
bankruptcy, not among the bankers, but among the dealers.
Bankers were compelled to administer to the exigencies of the
times ; they were then required to curtail their issues, and thereby
increase the difficulty under which the country laboured. It was
allowed on all hands, that In the year 1812 there was a deprecia-
tion of 35 per cent. which had remained a dead weight on the
country ever since. Sometimes this depreciation had been felt on
currency, and sometimes on assets measured in currency, and he
(Mr. Gurney) contende a that unless something was done to alleviate
the evil, the affairs of the country would be stuck fast, so that
nothing could move them. It was impossible, and, indeed, the fact
was admitted on all hands that it was impossible, but that there
must be a paper circulation In some shape or other, or the trade of
the country would be ruined ; that fact was sufficiently proved by
the state of the smithy In the years 1816, 1821, and 1822 ; and yet
the state of affairs then was nothing in comparison with what it was
at this moment. The depreciation of 35 per cent, must be pro.
Tided for in some shape mother, or it would take effect in a fall of
prices, whether of those of commerce or agricultucre, he (Mr. Gur-
ney) would not take upon himself to say.
Mr. ROBERTSON rose in order to make a few observations, in
consequence of what had fallen from the Honourable 51ember (Mr.
Gurney) in respect to Scotch Banks. He (Mr. Robertson) denied
that the Scotch Banks afforded so great a field for speculation as
those of England. The advantage to banks arose from the assist-
ance they were enabled to afford to commerce, and therefore that
Resistance might be fairly said to be lent to the country. The
Scotch Banks had been the means of raising Scotland to that state
of prosperity which she now enjoyed. If his Majesty's Ministers
withdrew one and twopound notes from circulation, they would
aggravate the evil tenfold, and therefore it was that he called on
his Majesty's Ministers to pause in creating further evil; it was
folly to pursue such conduct, and then to come down to that House
for the purpose of adopting measures for relief. The difficulty all
arose from the commercial system pursued by his Majesty's Go.
vemment. The landed interest, according to the valuation of Mr.
Colquhoun, possessed property to the amount of forty millionthwhile
that of commerce and manutactures was three hundred and thirty
millions. He (11r. Robertson) thought the landed interest con-
sidered themselves secure ; he would advise them, however, not to
be too sanguine; it was useless to carry on discussions in that
House, when not a man stood up to stop the exigency which
existed' out of doors; every body was calling for a delay in
the carrying further, at present, the extension of laws respecting
commerce, while In that house nothing was done to stay the evil in
question.
Mr. TIERNEY begged to ask the Right Honourable Gentle.
man (the Chancellor of the Exchequer) at what period it was that
the Bank of England had offered to establish branch banks ?
The CHANCELLOR of the EXCHEQUER said there was
Ito specific preposition to that effect; the only occasion on which
there was a specific reference to it was when it was mentioned in
the paper, signed by Lord Liverpool anti himself, where it was
mentioned as one of the modes likely to afford relief, but there was
no specific proposition to that effect.
Mr. TIERNEY, after referring to thz documents, said that it
certainly was stated by the Bank that there was a proposition made
by them to his Majesty's Minister*, to the effect he hadstated, from
the denial of the Right Honourable Gentleman ; he (Mr. Tierney)
must therefore consider that the statement on the part of the Bank
was erroneous.

The CHANCELLOR of the EXCHEQUER said that the
Bank did not come with any such proposition.
Mr. HUME contended that the evil of the money system arose
from the Bank dealing in that commodity in which alone the Sore-
reign ought to deal. His (Mr. Humes) allegation was that the'
people had suffered much by the failure of the Bankers that the
House ought not to teary class of the people subject to such
misfortune ; and therefoiM was in order to 311 ow the real state of
their affairs that he had submitted the present motion to the House.
The CHANCELLOR of the EXCHEQUER wished to offer
an observation in explanation of what he had said on a former occa-
sion. He had understood the Honourable Gentleman opposite (Mr.
Calcnift) to have stated, In reference to what had &lien from him
(the Chancellor of the Exchequer) on Thursday last, that he had
thrown the whole blame of the late calamities on the country banks,
but how the Hon. Gentleman (Mr. Calmat) could so have under-
stood him he could not tell, for if he at at all recollected what he had
said on that occasion, it was that it was not possible to charge the
distress upon the country beaks, or upon any particular class of
persons: he (the Chancellor of the Exchequer)had represented them
as arising out of special necessity, incident to all commercial com-
munities.

Mr. LCRAFT said that he was perfectly ready to admit the
explanation given by the Rtght Honourable Gentleman, and assured
him there was no person in that House to whom he was more wil.
ling to concede ; he multi only say in his own justification that the
Hight Hon. Gentleman had been so understood by others as well as
himself.

The motion was then agree 4 to.
NAVY ESTII4I::.TES.
Sir GEORGE CLERK Lrought up the Navy Estimates, which
were ordered to be printed.
SILK TRADE.
Sir THOMAS LETHBRIDGE presented a petition from car-
.
•

tsin silk manufacturers of the county of Somerset, against the ire.
portation of French silks.
On the motion that it should be brought up,
Mr. ROBERTSON contended that if some steps were not take,'
to stay the proceedings about to be adopted by his Majesty's Mi.
Miters, this most important trade, which had been gradually in.
cressing for so many years, would be totally destmyed. The pro.
tecting duty of thirty per cent. would have no avail, for if Presets
silks were admitted, whatever prices were asked for them would be
given in this country, because it mut lihtte told fashi,r, „,.
brought them into the market. This It Imo that a0..;1
the advantages gained by our for, father; to So 111—,w: as,
line between restriction and Carspetitym could net be dr. su
• protection aewas proposed to bemire-W. 1' we: ovp Nip
with such a debt upon their aboolders they cold0)114.!.
nation without any, upon the principlesid free usde.
The petition was brought up, and ordered lo be printi.l.
MR. RENNIE:We CASE.
Mr. DENISON moved that s merage he pteszz:e
lairds, requesting the attentisoce of Lord lUsldletoo
dance on behalf of Mr. Kenrs:k.

• k

1 11Tei:;1i:All.:Rrosetoo;:1M, end said the Rom Mcr,. . . • Denison) was premature in ids metion. se it "odd i''• IJC . ,
.
to anticipate what evidence would be occulted** die dcl :., r, . '
Motion withdrawn. ' • '"
SILK IRADE.
Mr. BARING said that he had to present a *Oen -7.. ,ea
persons employed in the *ire trade. In the bowie& of Tele V
against the Introduction of foreign silks. This was quest,,, .- .:
would be brought before the House fn many shapek and e,. ~. ....
tions, and was one in which not nee ereusend but nee e ld
thousand of wretched individeal. were eesee.reed. Ile i •-!:
ring) was sorry to find that his Rite.• '.I ..,7 ...rtr.,:c Fr vet tee nee
sident of the Board of Trade was absent; he had hoped thee,
would have been present on the occasion of these petitions being
presented. There was only one way in which the question could be
set at rest, and that was by trying whether the House would or
would not support his Majesty's Ministers in the step they project.
ed by the alteration of the law it respect of this trade. It was its.
possible, in the present state of things, for the manufactorers to
give employment to their workmen, until they knew what their
fate was to be. Whether their opposition was right or wrong, be
(Mr. Baring) would not say, but their opinion was, that If French
goods were brought In, they had not a chance of selling a siesta
yard of English manufacture. lie would not now move for a Com.
mittee to inquire into this subject, because of the delay, and thus
was another reason why he would not, because, it they were able to
make out their case to the plainest undemanding, tie lose of the
Bill was evident. His Honourable Friend (Mr. Calcraft) had said
that the Stamp Office had refused to stamp country bankers totes;
he (Mr. Baring) was anxious to get rid of small notes. but thought
this to have been an unwarrantable proceeding, and ought not to
have been adopted without coming down to that House. In the
same manlier a law was passed that a protecting duty of 7s. lid. a
pound should attach to, hrown silk, at which time the ihrowsters end
if that law passed the manufacturers would be sacrificed. It wee
however, mused, and lately his Majesty's 141thisters bail taken
upon themselves to make a reduction of two or three shillings s
pound in this protecting duty, as if the laws of the country woe
entirely at the disposal of his Majesty's Alini.ters. They bad
sent down an Order in Council to take five shillings instead of
seven shillings and sixpence ; that was a very strong measure, and
nothing but the greatest urgency could justify it. The Howe
must be aware that at this time of great difficulty, as to this or
that trade, it was impossible loran, man to koow what he was to do.
Ile (Mr. Baring) wished to prep on his Majesty's Ministers tse
early consideration of this question of the silk trade. but be
should be surprised to hear from his Hon. Friend, the President
of the Board of Trade, that it was possible for it to abide the cop.
petition to which it would be subjected, lie had to mace one
more observation on the petition, and that he felt to be necessary
in consequence of what had fallen from an lion. Baronet ten
Thomas Lethbridge) on a former occasion, when presenting a
petition to the House, as to the feelings of the manufaceirets beteg
favourable to the Corn Laws, and he (Mr. tiering) had been par.
titularly directed to notice the point, that these ten thousand per.
sons distinctly say, that the principles of free trade cannot exist in
this country unless generally extended.
Mr. HUSKISSON begged to Apologize fee his absence, and as.
tutted his lion. Friend (31r. Baring) of his anxiety to have the fel.
lest ineuiry into this subject. The fast was, he had been engaged
up to the last moment on public business of great importance, and
though tie tendered this as an explanation, he knew it was note
justification pf his absence front the House. With respect to the
observation that his Majesty's Al inisters had sent down an order to
reduce the duty on thrown silks from seven shillings and sixpence
to five shillings a pound; the fact was, that directions had bun
given to take five shillings, and a bond for the remaining two and
sixpence. His Majesty's 31inisters never thought of doing so irre.
gular an act as interfering in the way described ; and it must be
perfectly known to the Hon. .31eniber. that it was quite a usual
course to take a bond for part of duties, lie (3lr. Huskisson)
would not go into further discussion now. Ilia lion. Friend (Mr.
Baring) had said a great deal of the deranged state of the counny
as to its manufacturing interests. No one could deny the position ;
and if his Hon. Friend (Mr. Baring) would give notice of emitter,
then he would meet him on the subject of the silk trade, or sty
other in which an alteration was proposed. There was nothing
that he (Mr. Huskisson) had more at heart than to have a full and
complete examination into these subjects by the House, in order
to ascertain, and consider cveiy objection that could he urged oa
the subject.
Mr. DAVENPORT implored his Majesty's 'Ministers to pause
' in respect ro the extension of the laws in regard to the silk ends.
He (Mr Hammon) had said two years ago what would happen,
and it had happened, SW what was the consequence ? Thousand, of
ladividu3ls were obliged to be supported by voluntary subscrip.
thins; and this in a trade which had been growing up fur years,
and spreading itself over the country.
Sir T. LEl'll BRIDGE was quite agreed as to the importance
of the object of the petition before the House ; and his object in
rising now was to explain what he bad said on a former occasion.
It was not on presenting a petition, es stated by the Hon. Member,
but on the question of bringing up the Report on the Addnu.
Ile (Sir T. Lethbridge) had said on that occasion, that the body of
the manufacturers possessed a more chaste view on the subject of
' theaeorn question, then they did when it was before the Homes.
He had it from several silk manufacturers of the metropolis, as well
as others with whom he had had communication, that the people
did not complain of present prices, but of the destruction of tbeir
trade. He was quite prepared to justify the observations be hid
made, and never could have intended to say that the manufacturers
' in the silk trade, or others, would not complain if out of employ.
because it was evident that any price was dear when such was the
ease. lie (Sir T. Lethbridge) contended, that if his Majesty's Mi.
' nisters were determined on extending the principles of free trade,
the obvious anti more honourable course would have been teepee)
the whole, and to have begun with the Corn Laws. (Hear, heir.)
Under such circumstances, he (Sir 'f. Lethbridge), for one, would
have approved of a free trade in corn. But the fact was, that
while the national debt remained, so long would it be impassible
to give a free trade in corn. He was prepared to say, that when the
question of the alteration in the law respecting the silk trade should
be brought to a discussion, and should it receive the countenance
of his elajesty's Government, he should oppose it.
Air. ELLICE rose, but front the noise in the gallery we caught
his first observations but very indistinctly. We understood him,
however, to say, that the Right lion. Gentleman (Mr. Iluskisson)
might find himself called upon, in consequence of the system of
free trade, which he had adopted to find the means of supporting 3
starving population. At all events, some decisive measure must be
taken, for nothing could he so pernicious as leaving the minds et
persons out of doors in a state of uncertainty, upon a subject so
Important. lie did not mean to say that there was anything like
Indecision in the intentions of the Right Hon. Gentleman, but
there was a strong feeling entertained upon the subject by the great
mass of the people which called for some Parliamentary decision
upon that which affected them so nearly. It was his intention 10
present various petitions, similar to that which had just been pre.
Rented to the House, on Monday next, and then to give notice ors
motion to refer the consideration of them all to a select committee.
to examine and report thereon to the House. Re thought the Bill
of het session! regarding the importation of foreign silk had bean
of great benefit, because since 'then additional light had been
thrown upon the subject, which, but for that Bill, never would
have been elicited. Front the information which bad been received
within the last fourteen dart, he was morally satisfied that the
system of free trade could not be carried into execution at present.
Indeed it could not, lie repeated, be catried at present into eift.ct,
without first reducing the price of corn, or else ruining the trae.e
altogether. ‘Vhether he could rebuild that trade utter its destruc-
tion was a question which was perhaps worth the Right Hon.
Gentleman's consideration. On Monday next, as he had already
stated. he would present those petitions, and whether time Right
Hun. Gentleman would then state what might be his intentions,
or whether he would then produce his own Bill, was immaterial, but
it was of the greatest importance that Parliament should come to
some immediate decision upon the subject.
Mr. BAKING explained. The Right Hen. ClegAirsse err
site (Mr. Huskisson) hail epokee as If hie( Mr. B.) bedimriediu ..0
the measures relative to the silk tiode which had ben l.t
the course of the last session. The fact, Ititewcrti, wee, digs tim.
Dill, if it was pernicious, ought not to be laid shogetbet M tr...
door of the Right Hose Gentleman ; ter very few ateemuse La '
ever passed that House which ball met with arch
Lion within its wally.. (Hear.) Ile uielied its leklepeneed eft`
heated Hon. Gentleman, which he laed there won be lim dith
r e:plebe
culty in answering. Ile had le and Inv, s gendenian was trate::
through the great nations of Europe who trade %hit this tour
for the purpose of collecting' information mete the subject of •
Corn Laws, and he now wished to be intormed whotber that ice
tleman had made any teport of the rattle of his impious e
Mr. HUSK ISSON observed that lie believed he Itas net W.
taken in stating that he had the cordial support of his Hon. Frk-
(Mr. B.) in carrying through the House the usea....ure regiedleg -.;..
silk trade. In reply to the quatlon cf his Ilan. Erlead, be bad .
difficulty in stating that a gentleman had been tient abeeadlo •'e
Information respeeting the state of the sewn tuck. Maul
turned recently, and had put into his (Mr. 1L1...0 halide a fee e
ameitaing of 130 tolio pages, to which was added a very volnednte
appendix. lie was sure that the LIM. Member, theviure, wt '.l'
not charge him with anything like renstainess, is not having
therto devoted to them the attendee white tau native of id_ t
jet demanded. He was quite reedy, if tequtred, to s.ste T
was the nature of the instructious given to the gerr..tmart alh
preparedillioewweaysernosttteof as labours.
a tnet theret statewuthneothiangit in the report
wllheit.tc°•hhououuledghht not to be laid before the House. (Deur.)
1 The petition was then brought up, and ordered to be printed.
HANK OF ENGLANI).
Mr. ORENFELL said he was about to wove foe reunite as rir.
Hailing of certain papers from the Bank of England, similar 10