The British Press; or, Morning Literary Advertiser.
London, England, 1821-03-20 00:00:00

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the people eiilingehey, had been done on a for-
mer
OCCINSWOv b measure very similar to this.
He did not doubt but thin there were a greet many
persons who would lend their assintabot to this Is.
beer, though'he believed that they would be 'di.-
appointed.
Lord Carri.anuaan recommended dotty by way
of conciliation; but he was of opinion that there
we. nothing in the alterations Of in ly kin of the
whicktould lam requirefraiiiirealdbff Via

Mouse to araderstond it. lie beglted 'l,lOll lit,troy
that Thursday would Ist a ddy too samistilglesavie
on that day there would be a drturinirineae bald,
mad the , might not be able to make a -fisums Me
kiwi" thst dila was au asopwrlianientery eNnollen.
shosogh is wus &subject not altogether telbe'dlltre-;
gesdeals Air tea delay till Monday, that Was quite 1
eft et the question. A few verbal alterations in at-
BNC bOtild not require a whole week to prepare fis
the discussion of them.
Mr. Tiling BY said, that some of his Honourable
Friends whom be had conversed with, whit iniendlirr
to he present at the drawing-roomy had assured
him•tbat•they would be.down at the MUM by font
o'clock, having discharged their bissiutsa in another
Oster. ,
Or. PBII.I.IIIORE explained.
Mr. W. IVYNIt thought 'het Thursday would
be the most propel day for the recounnitatent. He
controverted the assumption of the Right Honour-
able. Gentleman opposite (Nlr. Peel) that the oath
of supremacy had remained the same for three cen-
turies. It had, in fact. been altered on several oc-
ca.sM.s within that Irtfloll.
Sir %V; SCOrr hoped that the recommitment
wonld'he postputitil till Friday.
Mr. CAOlllll‘ said, that having given notice of •
clause fur enabling his Majesty to provide for the.
Catholic Clergy. he thought that he sildhld best
codstilt thespitit of that notice by refusing to in.
valet the }Utile hi delete ou this formal stage of tire
Bill, and to repeat his notice for the proposition on'
the tecommitaterit. lie hirl, however. prepare&

_ . .
tbeeksses, wluch,lie wished the Houseto alto* hini.
to have printed, that they might be better Under-
stood on the occurrence of hi. motion. The sub-
ject was au important that he conceived that he
should commit a dereliction of daty if he treglacted•
to bring it forward.
Mr. Com/mai did not think it right to engraft
garb • prilinsilion with the Bill, lest liariug the
character of • money Bill th-relry imported to it,
and being subject to dnicoinson in aitortstr Ogee,
a here any elterstion of it mu.t be in that curie fatal
to it, the Bill should in consequence be lost. It
was not conskent with the frieudahip which the
Hun. Gentlernau professed fo the measure to pee.
sist in his design.
Mr. CRosca hopel the Hon. Gentleminywould
not press hint into a dt.cussion, from which he had,
in re.pect to the convenience of the House, abstain-
ed. He bettered that he should be able to air"
the best grounds of justification for what betted' to
propos*. It was nothing but • recognition of a
general principle which he *ought, and not to en-
graft a money clause on the Bill. He was con-.
rinced that the Bill would be incomplete except it
conveyed not only privileges to the laity, but pro.
vision to the clergy.
Mr. CotinTEaraT and Mr. CROTAEK explained.
Mr. DaLY 'toped the .Hoe. Gentleman would
not ;tabula.* the Bill with the clauses proposed.
The SPEAKER left the Chair.
The House went into Committee, the clauses
were brought op, the House resumed, the Report
was brought up, and the Bill, after a few word.
from Mr. PLuttumr and Mr. GOELBORII, was
ordered to be recommitted on Friday, and in the
mean lime to he printed. _

Mr. CROKE* then repeated his former notice for
Filch,.
Sir Geoeat HILL Gloved, that the Pe.ition of
Nicbaid Hayes, presented by Mr. Hume oil Friday
lam, be printed. If the Honourable Member had
read the Petition on presenting it, he would
scarcely have ►ufered it to be laid on the table
before he had first informed the House of its con-
tents.
Sir J. NEWPORT said, that the Clergyman in
question had received the se rrrr st marks of repro-
bation from the Head of the Catholic Church, sod
the Honourable Baronet could not draw born that
Petition any inference that could he at all useful to
the discussion of the Bill to remove the Kornai' Ca-
tholic disabilities. He would oppose the motion.
Mr. HUME said that it mattered not with the
House on what terms the Petitioner stood with the
superiors of Ina own church. He hoped the print-
ing of the Petition would not he objected The
P-titioner was said to be a person of great talents,
and as to his Petition, he (11r. Hum) hail no de-
sire to ohaeuie the contents of it front the view of
the House.

The /notion was ed to.
Lord A. HANlutum wished to know, if by mov-
ing for details of a two of 46,0001. contained in
the papers on the table, as 11► r smount of the ex-
penses in the proceedings against her Majesty. lie
could get exact information of the whole amount
of the expenses for and ligainst her Majesty, toge-
ther with an account of the exact amount of ail the
expenses of the Milan C mission.; or if not, if,
on his moving for detailed heron'''a of the ex prows
altoketlier, there would be ally übjactudi to pro-
ducing them /
The CH•NC111.1.011 of the EXcHEQUER
thlt details of the 40.000/. would not furnish the
exAct expense of the Alibis' Commissioit, which he
thought it would be ser)• difficult to furnish. lie
bad uu objt ction ou his own pert to furnish details
qf the expenses on both aides, of the accounts for
and against her Mirjerty, but he thought that it
would not be solvisible to produce them. Her
Majesty had desired that she taught not I.realled un
to explain the iii ails of ail the items in one part of
Ilse account. But he bail no objection to furnish
details of all the accounts arrangtd under general
11(11(15.

Lord CASTIARKAGIIi PLIId, list all the accounts
had been subjected to the same audio.
Dr. LUIUINOTUN said that there were, as was
natural to conceive, disbursements on both rides
winch it might trot be proper to submit to public
inspection. Her 'Wariest) would be unfairly dealt
►rtth by a comparison of toe accounts iu the manner
nine propos4d, because her prosecutors were at no
expense for a great part of their commuidest iiiii s,
which COMM IllroUvh the channels of Government,
while site was obliged to hire special. n►tasengets ea

P

every occasion. Heitodetitood sled Mob
of the expenses fur the • pionretifion pate
the secret 'es vice snouif • sh4utth he held
whether or no that fund wits applieilde
purposes.
Lord A. HAMILTON then goys notice
Wednesday se'nuigbt he would. move for
of those espeboes.under maven& heeds;
BANK CASH PAYMENT&
The CHAIICaLLiii of *die Excueetnta rose to
bring forward his 'prciaised measure to enable the
Bank to resume MAI payments at en
thou • that prescribed by the existing how. He
took. a review of the general system •of
tion Acts since their deft adoOiob, down to
the regulations of M. Pieta Bill, in 1819.
one pert of which ptenfentied the Bank Mint
noising cola 'in paymiat for notes until May,
1829, when the Bank weal* be held responsible to
fhe demands of those obi abauld claim cash in
payment for notes above Si. His intention was tar
enable the Bank to pay invest, in the monthof May
seat, Po that the return' to cash paymetts,.
which wet to be entire and absolute in May,
1843; Wight be entered upon immediately, and
rendered more gradual by this previous introduc-
tion of some oortion of metallic money into all the
provinces. For this reason he proposed to give the
Rank the power of doing that in the coining month
6Nllay, which would be required of them in May
18ge.ying far their twitea in hard 'coin. His
schema was not to prevent the circulation of 11.
notes, or to diminish it immediately, but to
deliver the Bank from the restrictions which
prevented it from making payments before 1823.
What he principally wished to chew was, that the
restriction+, had been carried as far as it was desire-.
ble.—(Hear, hear.)—There was one circumstance
to which he prayed particular attention. It' the in-
quiries of the Committee, that had so long and so
arduously investigated the means of preventing for-
gery, loul produced • favourable tesult, and that
we were now in possession of a note it would he im-
possible to imitate, be then should not feel disposed
to make any alterratinn iti the plan of 1819. But
he was•puiufrilly obliged to confer, that they had
come to a very unfavourable conclusion. The
tatittost. they could hope for was. that after
some considerable time a note might be form-
ed that would defy imitation ; and the House
must feel the necessity of Inking some steps to
prevent the commission of a crime of such an emir-
mans nature, and one increasing to such an alarm-
ing extent, and to endeavour, if possible, to ren-
der the currency less liable to imitation. He cer-
tainly did hope that one-pound notes would shortly
be issued, extremely difficult, if not altogether im-
possible te• imitate—and that circumstance, he
trusted, would eventually lead to an improvement
in all the others. This, lie trusted, combined with
issuing a eersain portion of pounds in specie, would
tend cmaiderubly to remove an evil they must all.
deplore, and be ausioue to remove. He thought
he hail stated enough to induce the Committee to
adopt the measure he meant to lorispose. Them
was one circunistence more he wished to mention—
he meant the payment of Government to :he Bank.
Last year the instalment* had been regularly paid,
and be the sth of April next the whole would be
cleared eft: and, he would venture to say, with less
restriction on the currency, sod much less incon-
venience to the public, obeli he or any one elle had
anticipated. It ine;ht be ore yto mention an-
other object he had re, view —to make 'piper a 40
tender; but he did nut conceive that-she advan-
tages or accommodation derived from it so great as
to induce them to depart from that system which
the Parliament had with great deliberation adopted.
He (DMA to adopt a a wilier regulation with re-
spect to the Bank of Ireland, for it was of import-
ance that the Bank of Ireland should be put oil the
wine footing in this respect with the Bank of Eng.
land. He should, therehire, make two nionotis In;
the issue cash by the respective Banks one for.
Eugland, the oilier for Ireland. H. concluded by
mosing for leave to bring in a Bill founded on the
two motions.
Mr. °Altura said he agreed with the Right
Ili n. Gentleman, that the system operated toler-
ably well ; but there were polite observatious that
had lintels from him, on which he wished to re-
mark. He ;Anted that the Mink, by paying as part
in specie, would to • (-retail' extent relieve the
conuity torn forgery. He could not conceive how
this would be the case, for he thought that as
long as there were aiiV of tliese toes in cur-
culatton, it would sifted the forger an oppor-
tunity of commiiiiig she crime. He was anxious
to call the attention of the House to this great
ques ; and he was the more desirous of rising
early to Klee them ua opportunity of dispersing of
his proposition, *lnch, he hail no doub., they
would do, as he hail the Right Hoe,. Gentleman
opposite fur an opponent. He wished them to con-
sider the importance of the step they were about to
take, as it might be hereafter impossible to recon-
sider it. He was not in the House when the pre-
vious Bill had passed, but both the Committees
Inestralons hiss, the honour of having his opinion on
the question. He was therefore now desi retain
of statisg his opiiiiona fairly &it'd as clearly as
he centlii, without either party us private feeling,
nod to declare what he thought was most conno-
tive to the interests of the country. Ile should wish
then to hear, in the first instance, front some Gen-
tleman, what was the real cause of all the distresses
ol the count! V • NVe hear clamours from all outs of
the country, i'dittions to that (louse, reinunstrosices
on site stilkrioga of the people, anti Irons none mule
than that most impottant of all our liratiches of
revenue, oa which our happiness and independence
as a nation depend, the avowal! utal
/tear, /hear.)—lt is litilV lise years sister the itt ace,
we are be)ond the reach of the consequences of an
immediate and midden tiat.suluts from war to peace.
It is ..listird to speek pf user-production or outlet-
-I,lo;luction. Tnat Is all trae.h.—(lierer, Meer.)-1n
e eery COMAE)", and 110 OM COMA Ey, HOMO! tire nut-
ters thus hove missals regtilated themselves mita the
pleocett only niimal then. to lock for
their soluti 11l *no tl,e ',norm state of tlitogs, in the
progressive increase of the value of money, and,
under such (ii CUlllitathert, lin 01 her Cowl ry S Vet'
attempted sun li a poinlul up-hill return to meth
pyinen.s. That bring the case then, it was Isis-
possible wit to see that this great peculiarity ac-
counts for that still greater peculturtry, the prerent
state of the country. It was not his intention to
trouble the !brittle with any long detail of the

ouch

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1.1M,r14 •

*lwo of btu misery. It rsi§site sieritillittt airing
shalt ;lout and 'tedious war its olych nevem en-
pod, instead of spending . oar incnitkei we
were speeding our capitid; sAd the effects of
such • system must appear quite obvious. We
:...Ismisysibet if we eirrlv.lttek a state of things-UV
sq . country town, the effect must be immedi-
ifety seen. If • number of Gentltinen in the
-•wighboorboad farm-a reidatian"eriffiebitiiietheif.
anal is abet tow*, immediate 'bur tensporsry
*Mortice must be the courelueace. Bat die 'dig:
tresses of the Country, have exi•tesl now so, limit, thin
• it is impossibte hot to look to vomsteitinglojOu'd Ole
M•stis.in hie opinion was osling'ltralaelSreeitiliti of
the iuriOici.. Many Ge36tlmWiti dike;
rola opinions bet that sublkt, Waskis
H‘Siti. Friend, the Member (or Puriarlingto• (Mr.
Ricardo), whose opittious Ind justly so attach weight
with the Hone. The operstion'Or th a depreciation
wits' untratueil. It aPPettreid to him' the
mistilte' &Gentlemen made. was this, they thought
there Mal Cougicterable difficulty is the payment of
specie. lie never thought the difficulty great. In
loukiug to the effect of' the depreeiStiola, the Cursi'
'tinter said, the difference betleen the price of
gold, was only six per mot. and their arguineut
was, that we are now so Near it that a very little
efluit will bring us to it. But they seemed to
forget that the operation of money wai going'
on, and that to take the real depreciation of the"
currency at what it was at that period, we.
in tact Hot understandisig the real state of
things iu the 'country. In the brat place, there
was a great depreciation in the value of gold and
silver, amid that was to be lidded to the altered vs.
toe before we could escertain the amount of the'
depreciation. Gentlemen conversant with affeirri•
of Ulla sort must are that depreciation is considera-
bly increased by the facilities of credit. When you
make one million do the service DC two, it operates
to increase the currency to that. extent. Any Grii-.
Ileum, acquainted with the of of country banks
must know, that ',llene man is able to get at • bank
100/. at any time he pleases, he is in just the
sante condition as if he had the money in his pocket.
And the former haring this facility of credit, must
depreciate the currency. It must, therefore, appear
that it is nut the mete difference betweea paper and
gold thud causes this depreciation; but even this
circumstance had a material iiiflueuce. lie would
not fatigue the Committee by a very long detail,
but he held in his hand a calculation, by which it
appeared in 1815, at 3 per ceiit. It varied consi-
densbly et different times, lle found that the first
operation of the Ittstrit non Act did nut take effect
until 1800. It began to affect moderately until
1806 ; but from that period, the moment the
gold was gone, then came the depreciatime Now
if you endeuvour to find out proofs, and look at
commodities, you will find them affected more
than the precious metal.. If the same priociple
were applicable to all the commodities, it is ito-
possible not to see ftorn whence arises this gene-
rid depreciation. tie had given souse consideratiou
to the subject, and it was a strange coincidence,
that from the period he mentioned a parfait'
• alteration had taken place in the price of column":
dities. lie would begin with corn. From the yes[.
1785 to 1798, the average price of wheat was shout •,
55 or 56 alullinga ; that is, the price, es near vs
possible, of the present day. In the subsequent
years it ran up to 85 or go shillings. From 1798•
to 1820, that was the general average. But the
moment y.:u alter the currency, doon comes the
price of wilest, and 50 shillings, which was at that
time a good remunerating price, is now such as he
can hardly live on. And why is this ? Because the
value of money has found its level, when all his
other expense', his private debts (end few men
are now without debts) remained stationary. The"
rent of his farms. End the expenses attendant on,
them, remained fixed, when the actual value of the.
farm was considerably reduced. la any observe.
tint' lie nude he did not mean to cast out even •.
doubt on keeping the public faith ; but he would
coittesiel, tlist the return to cash payment should
be limited to the utmost extent that their good
faith would allow them. From what he had stated
there could be no doubt the public creditor would
be beiirtited by that alteration, for 100 guineas
would then go us far as 120. Upon the whole, be
would say, that wondering the inconveniences ow
one side um well as on the other, it must be consi-
dered an act of njustice. %Ye are come to that
situation now when the industry of the country
C:1111101 well Support idle •iinuitaiita. To • certain
extent 100 may gto with such a opts in, but beyond
that it Is ituptissible. It was quite Clear that no-
thing was a greater injustice in a country than
temperisig with the standard of value. But the
difficulty of lowering the value of money was much
gteatrr than the opposite, although of the two modes
of cheating it is far the most limiest, because it
only cheats the drones, who contribute nothing to
the burdens of the Stele. lie spoke of the thing
now, not as ■ matter of honesty, but as a question
of 'entreat. But there was another circumstance
that tended in a great degree to increase all our ex-
penses. Throe were about all men certain feelings
which it was impossible to divest one's self of, end if
a mutt in provid:ng for his family proposea to give his
daughter 10,0001. or 5.0001. at some distant period,
he never takes Into consideratioe the value of money
now, end that a much smaller sum at the present
day was equal to the 10,0001. he proposed to give
same years before. The sante way, if you were
travelling, and offer &coachman half-a-crown, and
tell him it is full iis much as direr shillings some
time buck, he will he sure to tell you. " You're •
(I—d shabby fellow." There was the subject of
tithes, and although the greatest liberality had
beret exercised by the clergy, evil that two-
thirds of their tithes are tint collected, yet if you
tell the parson that things are .o altered now, that
is equal to 2/. you will hardly find him disposed
to reduce them. All thew things Phew the
impossibility of sußorting such a sja•ein, nod
rilto though he should be tttmccev.rttl, the di-cus-
mon on the question Roust be itelul, lor it would
elicit the eyes of the [louse and the country to
their peel situation, aid lie Hinted that he should
sneered in getting the Committee up stairs to re-
consider the question. Ili was difficult to deter-
mine what degree of depreciation should deter.
mine a fixed standard. ‘Ve were not'
back to F.tizabeth or the Pleutegenits. lie would
recommend the depreciation for the last ten
years to be taken as a standard, and fix it there.
There might be some individuals who would suffer,

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but they would not run the least risk of doing la-
justice to the great majority. He stated these things
for the purpose of impressing the Committee with
the sense he entertained of the difficulty of • return.
tie should be sorry, however, to have the vote of
air Ventlfilitlviiiiisiel of redtiFirig
the standard. Of the system known by the name
of the Ricardo system, 41 HMIs Friend_would ex.
entre—him for usinrhlli-ntiffe",- he 'entirety; • con-
curred; indeed he'• heard any Practical
mini object to it. For'by compelling the Am*
to pay the large sates in bullion, it would
preventithe depreciation of the currency. What-
ever arbranteg!
lyoz give to the Bank pit ilia
give to the country. B this means there never,
cos t&be a fun 'au lirsqt ta:anz cousideralsie
extent. ' You tree aud'yetisave
the wear mud teat of thescoio, which is an enormous
expeose ; and you save the intermediate waste of
the coin, and always preserve it in a proper state.
This system has beta already tried at Hisenbar"gli,
and carried into effect; so that it is no, ex.
pensive experiment, and as yet he had heard uo
objection to it except ogle, which indeed was a
formidable one, the case of forgery. Undoubt.
edly men of great merit mid talent had been occu-
pied with it, hut hitherto nothing had been pro-
duced. The Commission, he thought, seemed
to have looked to something perfect, which per-
haps was not attainable, When they might have re-
corn Mended eorneibing which would have been
.difficult of italtiiii4liod that might easily have
• been done, refit use ifisposisible to. conceive aier
thing more cletnif thmethe.execution of the present
note. In other countries, where a paper circulation
was established, bal.:eke:re care had been taken to
hive a finely executed 'note, little or no forgery took
place. No doubt there was a rest deal of ingenuity
in crime, as well as in every oilier thing I's this
country; yet in America, where the circulation
of paper was very great, but where care had beers
taken to hsve a handsome note, hut little forgery
has taken place. In France there was but one.
period at which forgeries took place, and that,was.
(luring the period the Allied Sovereigns were ins
Paris (lot did not mean to attribute it to any
followers of theirs)—(d laugh)—but resit was,
that previously to their entry the Hunk of France,
us a measure of precaution, had thought proper to
destroy their plates, and were obliged to have a
provisional plate made of rather inferior workmen-
ship, to be useil before the proper One could be
got ready, and in the interim notes were forged of
that inferior plate. It ought to be observed that
the smallest bank note in circulation in France was
of the value of 40/. sterling. On the whole he en.
tertained a firm conviction that something might be
done to render forgery more difficult thari at pre-
sent. But supposing that lie was mistaken in that,
could there not be something in the shape of •
token that would at least he something better than
the present system I A gold token might be made
for the purpose of circulation, levying • seignorsge
on it as on the silver coin at present. That would
be an' impoitant object in relaxing the tension in
the: present system of currency. The nest ob-
ject to which he begged to call the otteution
of the Committee was, having a double cur-
rency of gold and silver. The first othetvation
he had . to make upon that wag, that it could
Front
be 'established with good faith. 1774
down to 1790, silver was not a legal tender by
tale for more than 451. though it might be ten-
dered by weight for any sum ; so that it appeared
before we tampered with our currency, gold and
silver were both legal tenders. It so happened that
gold was paid; because, in fact, it arna a cheaper
metal than silver, but hall there beearsay *lteration
in the price oTailveir,;4lonieverse woe fif lose• been
the case, and payrnentii would hare beet; made in
silver; and such indeed was the case, an alteration
had taken place in the price, and silver began to
be rem to the Mint, when, in 1797, au Order in
Council was issued which put a stop to silver being
considered as a legal tender in this country. At
the present price of silver it might, consistently
with good faith, be restored to the position which
it formerly held. A great deal might be.ssid in
favour of a silver currency in preference to gold,
bearing in view the object of having, as cheap a
pound sterling as could be had. Having a per-
fect standard (though he (lid not undervalue it)
ors au object of but secondary consideration,
compared with getting as cheap a pound ster-
ling as possible. If silver were cheaper, silver he
would prefer. An objection had been urged
that if there were two metals in circulstion,
one would be constantly sending the other to
the melting pot; but that was not found to
be the case in France ; for a long space of time one
per million was the whole of the differeuce.between
the two metals there, and that of course was too
small to have soy effect. So far Flom thinking a
currency of two metals imperfect, he thought it
more perfect than a circulation of one metal only.—
A single metal was liable be acted upon by csusea
varying its value as a commodity in the market. Now,
if there were a power to pay in either metal, if gold
were acted upon, the Batik would send silver to the
Mint, and vice versa. It was also perfectly evident
that the Bank having the power to lay their hands
upon either gold or silver in the market of the Conti-
nent, they would be less ex posed tothe manoeuvres of
jobbers and speculators than if they had only one
metal to resort to. Quitting the view of a per-
fect standard, there would he found by prettical
men no sort of difficulty in a circulation of that
sort. But a perfect standard was not the olijctc
now, it was a cuscombry to which too much tc:l-
- had been petit, end he sus clearly of opi-
nion, that for a great commercial country like
England, who had dealings with the country from
...bleb the precious metals came, the two metals
were the best sort of currency. Thinking as lie
did that the matter was not settled m the hist
rummer as it stood at present, he was for sennii.g
it to a Committee tip stairs, in whic!i the echo r
subjert might be guile into. At tee same time
he must candidly orknowledge that those who
considered the subject was placed at prisent as it
should be, coul,l not do better than vote for tl e
nit-assure now proposed. The Hon. Member coil-
chided by moving the following Resolution :
•• Resolved, That it is the opinion of this Committee, that
it is expedient to reconsider the provisions of the Act a
59 Geo. 11. cap. 49, with a •iew to alleviate the pressure
which results from the strict execution of that Act upon the
yahoos branches of public industry!'
Mr. Ittc•anci said, that much of the Hon. Wu-
bees reasouitigs applied as objections to the pre-

A A.'• •

toes Metals
tralllealle WWI' • Vessitteil 144..4 1/11.1k4 siteowrai
11,,,,,jeirralaties of. uses, the pewee or /terrier', their Asper
at jet wick gwl4 •504 Why". ll 1011? H. !messy spiny ,
WAsept a sew istaterlard, qind the emettintr,tbes
before . Bosse was Sbehiterffirt • siumild golbaelt and An
a stasterd aesordlog us a detiiiietatedevirrcpci; joe realer.
ibretsisiarl the elreeleitirt is h existed psis, 4/.1792.
A Ttobittleylie of hie, 43 Illensir'(or New Saran', proposed
to ex sir graisdardat *As pence of ,golf,lllo.per oz. ,
hot as Ito sidlateget was pi orritl ;dory totems 3 and d. per ,
oest.) mid As Stills revolate to attain a seed eurreqe
would mist lifiotti tor to trifling, pat be was As ladle '
to vaster the retitier yet the teaser standard ,• Ist bed
proposition tibia fhiNe friend been acceded to, sold
Hemostatic Member_ for Tastes have bees stilled '
it ? Ought hi mac.sitiiirdiag. to his argssiUses
sight, U.S.* required them to p bark rw AO
a es son before, wits the mask rote of lew was
only ille.? • Vress tele to 11116, the whole oisibler-of,
the desisissio• saver mosseded I par gent. sod tbellow•
Masher for . Tsetse see porlously recasseesieed—is'i
the Ceiossillao to "wheal', set to any one Ouse yeses, batt-
le • pried beyond 'SS whes the ersessey was Sao euts•-'
• .manias. ',be Hs. Seerobee had slime bits (MO
Moro stbeseist, bet ilisagerbei called est is Nat roddlisol
.
amen Illa greatest lbeariel• tbeirtael“•• Via Illiali*
Vrlead bad pe•pana4, nape onto abancie%pd his owe *pi.
sion•diblipbad .
.•414. • vortelyriel epos of Vow
lAN '' . ism 0 010000,641 gt irkwo WM*.
igi
he 6. **Atom) koowdy, moo ibpdr4bbllgalilares '
he Sea said he shoo prefer es standard, sod that of gold.
Bela( Sand the Moses fir SS peeftrioarkise said that front
the niachiatery which bad /Mere anllaiallt iliaeriea, it was so-
bable the seltisof the'ssises wowed*, vs mesh facilitated,
that a peal fall sight prbbahly take place in the valise of
silver. He esseived that was deager thee was sot -waist=
cry, and Ames be this advised there Amid be hot so
stiutdard,alsd that of gold. -Ma Hes. Fried (211 r. Illseisill
had stools of the advantage of a Axed essoisty, had be
(31e.ffitenerlo) admitted the shammy of it; yet Ms NW
sourabfe: Nicoll sapid sew SUS gold .as a sludord,
and yet pater passes to be swede is silver fur a gives ps
✓ied, say,fur 10 years., aid thee *dist it to the gold; so that
it diming Hs peripd silver hod Idles to 3s. ed per unneas
he would Still retain it as the stasdard till the ton years
were expired, aid then he would raise ikagsin to Ars. 2d. per
Ounce. This would 'make • more variable standard slum any
other subject whiila could be' suggested. Is his Hun. 1
Friend'. orbit's, there less but one reale for the *distresit '
respecting which they had au many Petition. on their
table, aid that cease was the euireaty; hot it appear-
ed to his (Mr. Ricardo) that there sight possibly be i
many oilier sews of the low price of raw produce besides
that oat ; the le& price of pais might arise from abundant
hareeets,„ imposeemessts is agriceltere, or from she vast int-
' palletise marls fret Isetand. According to the statements
of
his HMS. Feismil,ahe shade of the alteration in the cur-
tees, hied been le, per cent.; but be had stated that gold
bad alleted in value—that was an ossomptioa. 11 bad
varied with respect to silver, and he assumed the whole of
She, varjetion was a rise la .410 n price of gold., He (Mr.,
Ricardo) believed, that whet": the relative value of two
articles, e °spared with each OAS, raritil, it woinid be
a difeeiitt matter fur his iftilsoraible Friend to prove
which had risen. He had said gold had risen, and he (Me.
Ricardo) sight equally assert that layer bad risen.—
BS, admittiog the statement of his Hoe. !rimed to be cor-
rect, the whole alteration was only ten per cent.—Trying
the price of silver, by the exchange with other countries, for
example with France in 1819, and now, be believed, Mitt
Roo. Fo kind woold ied it a difficult matter to sake out a
difference of Softest. He gave up a great deal wheu be
albrired to his Hoe. Friesd that the whole of the alteration
was a rise is gold; mod thowgh he had elated the fall of eum•
ssedititii as tee pet sent. yet a reference to the prices of eons-
'iodide. in foreign assi•tries• would hate ale.° that they
had fallen there also. His Hos. Friend bad talked of the'
greet advantage the slookholder was deriving frost receiving
his dirldiand in MI madepusialed earreesey ; but his eilnallelle
am* to lbelsobed to SAS the depreciation of snooty took .
place. Its 1701, okh • debt of ahem 400,000,00 pf, he thine L,
received his divided is gold at 31. 17a. 101 d. per oat, sad
afterwards, whoa gold rose to 41. 41. sd. and up to 41. 15s.
an °mace, be was paid io a depreciated curresey. It was
rather too such, sow that be was &sails reeeivirg Lis dividend
in a josterscersy, to, tarn upon bins as if be was rookie"'
ionediente pro's, whew be (Mr. Ricardo) would .eoutend that
he
was up waists time a very great loser. He doubted whe-
tter, there bad Asses say eapendttnne of capital, as his Hu..
Friend manned, he thought the striags of individuals
had sore thaw etrustralsehreced the extrevagsat expendi.
lure of the Guirerommet, and that the country was richer
is capital at the mad alias war these ever. His Hon. Fries)
had askew of esseasy in thesis of money, but be could
not coercive what that had to do with the (pestles before
the. House. His Hos. Friend had asked, whether we wished
to have a purer ',Misdeed share the rem of the world ? He
would reply, if oilier enuntries bad a bad . system, that was
so venoms why we should sot have the best in our power to
obtain, .and he thought that there was uotbiug in such
• desire to justify his linnonrable Friend in calling it
" eoxeumbry." In a national poiut of view, altering
the value of money was. of se more coostonetiee than
altering the foot measure. It wield eerteinly be an in-
jury to individuals, but, in a national poise of view it could
be of so couseapamice. Even taking the issatswee ors satioal
lobe, if the payer" of tales. paid more, the receivers of taxes
Lad more to take; and perhaps that, instead of n national
injury, might hen national beseftt, acid would be sepposing
the stockholder was mere saving than the biadholdee. His
Illos Friend hod talked of the advantage of lowering the
slue of the turnery. The orpiment, if good for any thiug,
should be espied further thau it bad Imes. We might
go ou by that iageriious toys hod of increasing the prompt.-
idly of the country, kill the anvereigu would be only worth
a shilling. Gold token" would be allowed with great risk,
if they contained much kw gold Haan there was iu coin, as
111 that par rot
.sight be inundated with imitaltuois front
formes °cowries, sod at last Stacy would Duly pass fur the
gold that we, io them, He differed hum his Hon. Friend
on the subject of the double standard; he decidedly pr-
imed e standard of one metal. If may thing could prevail
on him to approve • gold token, it must be one from
whence nulling pus was deducted theta the seig.
tiorage or ramose of coinage: if they ware made ex.
changeable for book notes, that would pra wean the latter
from ale prcriating, soil would certainly be • great improve-
ment in our encrency. Ile treated at chimerical the
notion that the Bask could be injured by the operations of
',peculators or jobbers, whilst they possessed the power of
raising the vtilee of their paper. As to forgery, he dial not
fee that paying half in gold nod half in paper could
present ii. He Haunch& the only security from forgery was
si return to specie payments. The Right Hon. Gentleman
(Mr. Valiaittart) bad spoken of this measure mi lending so
pederast "lee too greet accumulation of coin in the coffers of
she Bank ; but the fact was, they had very little coin there,
nlthosorh they hail, Mr believed,' greet deal of bullion. 11'1th
seepect to the Non amusaut of bank mutes in eirculathin, ha
conceived that the Vault had of. late kept, the eircatiatioik
'below its level. The Bauk had not followed their own eels
as to diecoonting, they hail nut discouitted so many bit's,
be they bid issued their paper in other ways-.
in loans to Govrrnmead, and is, the pisrcbare of bullion.?
He believed it was out strictly regular to allude to it, but
he could not help saying thus he should be glad to see the
usury laws repealed. The present time was ptrtictlarly
favourable for the measure, as the rate of interest was below
b per cent. If he might olivine the Bank, they would, in.
stead of, dialbesting at ibe ievariable rate of i per cast.
alteribe rate. of Ostereel accor.liog tam Abe chasips in the
mallard During the war 'boat merchants who could die,
'lnns, at lhe ask, raised gooney •t .5 is., cent. whilst those'
who 'ten not au farrioneed mid 7 per cent, fur it. That woe
the came in the nee, bat as present j,,, would be wise of the
limik lo lower the rate of interest to 4 per ceuL the Huss
Member concluded by apologising far baring liken tip as/
inneiritil the lime rif she Committee.
Mr. PEARCE rose, tor Com Ilse setae in the gallery, spa
the 10. Mee in which the Hum Member spoke, we timid
tolled 0.4 little of his midyears He, d the Ilank trues
auy, reset of seal in the bringing forward aq Mapre.a.f.4 note;
he shanghai it a little extraordivary that after passing two
Bills preparatory to resuming cash payments, those very
persona ethe had promoted Iberia should uow taste round

vile. or thew