The British Press; or, Morning Literary Advertiser.
London, England, 1822-02-27 00:00:00

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disc, for be gates& beeelit of the emoley. M which •
the stockholder most be ready to be*, ea to as ire,.
sistible uecessity. That brought his to the view which
he roe of Ms appilaflei of the surplus of the la.
011111 to the formatesn of a eisking feed. He was reedy
te admit, with the Noble curt, that while be thought the
eplaios of Dr. Hamilton arithmetically correct, yet he bed
set side dee allowance for tire effect ot ti loge sem of
seam throws ism the market ie raising the feeds. But he
moat say, that It appeared to him to be the krommt driest..
la /oppose that whilithe principle of the Sallies feed wee
arsertessed, the beeping op of the eseensts issebies7, by
whieh it was savaged, meld so for impale es the seder-
of the stockholder, a Min p. canary alive to his
ewe Interests, as to lodes. his to believe that theifte Chancel.
be of the F.:chequer, by takieg money fres quarter
had pieties It le soother, was passing an mperaries
elicit seeded in say way .to his .defeelen" se elfordal
him the smalls* premien. le the very year wises
the reselling.* was eased foe the enmities of this
filed of 11,000,9001. ant of the espies et 1M revenue,
so arch earyles existed; air bad say sue* surplus beim
failed ep a the pests year. Aad bed • the prima of
ask Moe at all closed by the abseme such p feed I
Ha foetid is the teetrery. the prise of Seek mesiderably
higher rise that period dila Stem sod the facility of rew
ing mosey is the market mach increased,. Seceassteme which
rainwear it occurred was ettribetabk wet to say optimism of
the mulct's feed, but to the redeeed rota .f profit es Client.
. whirl) threw a rests queasily of Made( or see
mployed
capital ism Om .rweral gimlet. How prepeetereas wee it
that the Welding flied which whims it sasessed to 17,0011,5001.
roved se protective is say of time superstitious Aran
which won shrew, seed it tee Me overmeinosals et Ihe
Chaseher of the Ifseheireq Ms assoret Mat 14 lembed
the .}drive somber osoooolol. is. I. Sid twit'
.e a widen eareeded from all 'siker videlhass ti
the seesaws. sod Meie llty of the Ho esi-
gisal (arsons! Tle Mobleiteri bed left IMINIOIIied
the limns of the sleet to which relied lbw mention
maid be oferded by the °mistime ot disideliat that
Its cwasmoroce of the operatses will be, theepot Merl of
eta yeas, whoa by eedisery cakelatiee Me, me
11.4 itself is ties me of a weeost a debt of
ii will have reined sheet 80,111/401404 sod in lotemS tits
assent id ',IMAM • yes, het milk a Megerensees of
uses to pay Oise is idle. IN opposition Us Me Plabla Ikerl,
he did comehis Mat rebut from doeIIiAMINIA. drams is
the mesa sedition of the tureatey, would be proientim
as ea sere Meets! egad Men the appliestiee ofo sm.
piss ef reweave to that seseeet is the way of • sishisg food
tithe re/miles of the debt.
Lad Kiest said he would preface the few obser.
nib's, be bad to address to their Lordships ea this
ocaisims, with recalling to their Lordships reeollec.
Pon a speech from the Noble Earl in 1811, C 0.,,
eliding with a Revolution, which was @dallied by
Parliament, by which it wile declared, that • genies
in gold was not more than equal in value to a one
pound Rank of England note and a shilling. In
perfect consistency with the principle which go-
verned his cooduet on that occ.ision, he (Lord
King) thought the Noble Earl should have
rescinded his speech of that evening by moving,
" That it wss the opinion of that House that sass.
lion did not in soy manner affect the distress of the
(*entry; that the best means of relieving that dis-
tress was to reduce the interest of the debt; and
that the best way of effecting that reduction was to
apply the surplus income of five millions to the
purposes of a siukiug fond."—(Loughter.)-14
those Resolutioos would have been embodied the
whole sum sod substance of the speech of the
Noble Eirl. Front the pamphlets of the minis.
terial wiitera, and the articles iu ministerial sews-
papers, sad other productions of ministerial run.
nen, the leading article in the ministerial creed
appeared to be, that the taxation was in no do.
Knee the cause of evils which the country was
bufferiug; and un inference in support of dist arti.
- - - - - - -

el* had been drawn by the Noble Earl from the
distress which he acid was prevailing in other coon.
tries also. He (Lord King) believed that in many
other cirantries besides this distress might prevail
to a. greater or less extent in proportion to the
became imposed on them. The Noble Earl had
taken special cure in his allusion to exclude all
emotion of the eastern countries,, where he be.
limed the quantity of suffering at present would
be head to be the greatest ; the state of those
coma/tee would have proved too much for the ar-
gement of the Noble Earl, for they were suffering
frog, the mine cause to which this country owed its
depremioa—tbe rapacity of their Governments.
If be naderstood the course of the argument, it was
this: taxation was not a cane, of the distrees, be-
calm it caused high prices—low prices were now
the cause of the distress; therefore taxation was
not a cause of the distress.—(Laughter.)—Bat he
(Lord King) maintained that taxation was the cause,
on the shewing of the Noble Earl himself, for it was
theatimulur whicb gave rise to the extension of the
celtieatiou which the Noble Earl said had mainly
led to the distress. But if the argument of the
Noble Earl were correct, that the quantity of poor
land in cultivation was the cause of the depression,
how did it happen that the old lauds, even thole
which bad beeo longest ;n eultivation. could not now
be tilled at • prat ? He (Lord King) contended
that it could only be owing to the increase of the
excise duties in the last twenty years, particularly
upon felt, leather, soap, and candles, which by
immoderately increasing the prices of those arti-
cles, arid indirectly of every other article also, to
the eonburner, had swelled the charges to which
the farmer was subject to an inordinate aniount.....
The Noble Earl said that the only relief the coon.
try bad to expect must come from the reduction of
the interest of the debt, sod that that was to be
• ifeeted by the application of the surplus of the
revenue over the expenditure in the way of u sink-
ing food. These were the 'sine topics which had
been preached to the country for the last six year.,
enlivened oreepooally with a few more rainier.
thorry absurdities, goer as that of a superabundant
population, olocb had been held up ao the princi-
pal cause shoot four years ago, and which led to
the expenditure of large soma of the public money
lit a period of its greatest exhaustion, in the grans.
',rotation to other cocoon,* of a great quantity
of valuable labour, and useful immure, since
which the evil had gout on tucressing, sod led
to the .discovery of • cause diametrically op-
posed to the former in its nature, vit. an Ogee,.
site production. The trot cause, iluietifer. of the
'll *as manifest ; they had extracted too witch
from the laborious and productive classes, to give
to the idle - - clove rinks ; whereby so
was taken from those
remainecliwas not sufficient
the cost of its produe.
said, " The culusatiou
she poorer lands out of
capital Irons those lauds."
absurdities of the Of"!
-I. They were told to
Providence for Lahti; but

tt ticiit the individuals, hi &old wish to know,
who told them that ? They were the seine men
who for the last twenty years had been comiteract•
iag the operations of Nature and Providence—who
by imposing an overwhelming harden of taxistinti
ois the country, had frustrated the ordinances of.
Nature, and aggravated the evils of a b4rl cliiiisie
and inclement seasons. Tho Noble Eail boasted
of a reduction in the expenditure of 4,600,0004 for
this year, as compared with the last, and 'or:bided
the difference between the present establishments
and the scale of 1794, to the increase of the half-
"pay; lint it had been thewn in another place by a
Noble Friend of his, that, allowing even for that
increase, 6,600,0001. might be saved by reducing
the establishment, to the scale of 1792 ; a aunt
which added to tl a 5,000,0004 of surplus revenue,
he really thought capable of affording a solid and
sabstantial relief to the country front the deirres.ion
ander, which it now laboured. But he believed
the real object of applying that surplus to the pur-
poses of a nuking fund, iiistead of availing them-
selves of it to reduce the burdens of the country,
was to show to foreign powers that the Gossroomeut
of this country had a fund of 5,000,0004 at it.
disposal for any purpose for which it might please
to use it. There was bat one objection to the pro-
posed advance of 4,000,0004 to parishes by was
et relief. *Web Cu, that it writ impracticable;
sod it abet case, according to the statement of the
Noble Earl, it would be applied to jobbing in the
Nadu

lir4,IILLENBOROUGH mold sot ~sr with the
NAM illeopaia is titiskise that she reduction of OA/00,000f.
el NM wield have the effect whleh he ascribed to it ; for it
spplied is • bessts ea ears, it would sot effect • riser the
prism beyoad Ilse assess& of Os. coo every ye•rter of wheat,
•••asibiels she Noble Marquis could hardly thl■t capable of
prosiness( .ese east of s•bataotial relief to the farmer.
It appeored to hint that the present was a ease of
peculiar difficulty and distress. It was not con-
fined me►ely to the consuming the capital of the
farmer. but tended to destroy all the agricultural
interests. It also effected the habits and notions of
the tamers, sod made them dissatisfied with the
Parliommet so long established. lie had veutured
to make these few observations, agreeing with the
Noble Lord who had moved for the papers in the
views be had taken, namely, that nothing could
more firmly support public credit, than the mien-
tenanee of a sinking fond. And he thought that
the attention of the Government and of their Lord-
ship* should be directed, not to soy prospective
good that might arise, bet that their inquiries
should be directed to discover the best uterus of
affording immediate relief.
The Doke of BUCILINGRAN said, that the die-
, maitre of the Right hail produced at least the r ffect
of eliciting the statesman-like views of the Noble
Marquis (L•nsdownl. But another Noble Lerd
(King) had plunged into the depths of politiell
economy, and extracted some observations remark.
able at least for their novelty and singularity ; for
he had discovered that, amongst the other things
his Majesty's Miuisters were guilty of, they had ale
tared the seasons and canoed a bad climate. But
mold the House forget that the some difficultiee
which now pressed so beayily on the agricultural
intermit. had affected some time ago the corn-
-maw* knaves? And the Room should never
forget the causes to *lnch they were ascribed, and
the weedier proposed. Could they ever forget
that the weight of taxation was considered the sole
cause, sad the removal of taxation the sole remedy ?
That commerce hod revived must be a subject of
satisfaction to every man who valued his country.
Thank God, the commerce of this country was ■t
present in a state of unexampled prosperity.
Every tradesman was now employed at the highest
wage* that were paid at the highest times: and the
House would recnlleot that it was not many months
singe the some clamour was raised that existed at
present, o•ttely, that trade never could revive
without the reduction of tax■tion. There would
be always found people to raise that clamour who
wished to excite discontent; but the country
meet see that time had effected that which
these remedies could not. And what were the
canoes that produced the present greet &strive?
One of the first was certainly the great im-
provements introduced into the cultivation of the
land, which created a superabundant produce ;
and yet they found the very men who had been
foremost in introducing the improved system,
cootie* forward at public meetings and attributing
all the distress to excessive taxation. Another great
cause was the present condition of the poor laws.
Something must be done to bring back the condi-
tion of the poor to their former situation, and not
to allow them to remain auuuitauts upon public
bounty. He hoped au Honourable and Learned
Gentleman in another plaice (Mr. Scarlet) would
not abandon that question which he had un-
dertaken with so much ability ; for although he was
not premed to my that that plan would remedy
all the evils, yet he thought it approached nearer
to the object than any plan he hod heard of. and
he hoped it would be completed by the talents of
that Learned Gentlemen. But it could not be
aimed that sericulture alone suffered by mintier',
it must surely weigh equally upon all classes; and
how did is happen that it depressed agriculture
mid allowed commerce to fiourtsh ? it hod been
said all excisable articles, such us ash, leather,
Ice. But lie had taken considerable pains to ascer-
tain the effect produced upon the farmer by taxa-
tion, and that he bad door principally upon the in-
formation of practical hard-working farmers, end
the items were token front their own books. Now
when en assertion was mode upon one aide, and de-
vied upon the other, he hoped he should be cr-
ewed for entering into some details, f►om which •
he hoped to prove that nixstiun had nothing
whatever to do with the distress. He would take
• farm of 400 acres, half arable sod half pasture ;
he would suppose sixty-six acres of wheat.
producing 198 quartets, at the value of 3/. per
quarter. amounting to 5941 ; he would sup-
pose • family of • wife and torte children, and fouu
servants; and the texts, direct and indirect, ern,
leather, tea, soap, &r. etc. would amosint to but
one end • half per cent. upon the value ul his pro-
duce ; and ■ny Noble Lord could, upon making
the 'slue inquiries, arrive at the same results. From
this statement. then, it must appear that all the
clamour raised abort taxation way fallacious. As
• for the remedies to be applied, it would be fur Par-
liament to prevent the agriculturist. front sinking
: pa much as was in their power, by esideavintringiu
Ming owls die pries of caseeoptl•. to the price of palace.

~~

•
Brit Id be alerted**, eel** Ilse landlord. Edlow. '
ed • of the capiteliats when the mousfactortug
interest• were distressed. He sh.oild have fraud It IfeCINS.
sae lo go more into detail, had it sot been for the very deer
and comprehensive atropine's' of his N.llloe Friend (laid Li-
verpool). But he hoped their Leirdellip would ere that after
the country had gone to the extent she had gorse, and after
all the sacrificed she had trade, they should 111 perfaim their
drily if they now stopped short when they were within sight
of the goal.
lard DACRE rigid, that if the opinions he had formed,
after very aerator consideration, were enirerl, they sound
lead to more metiers conaequeuer. than use that had beets
alicded to. It appeared to hind that every Noble Lord who
had yet spoke upon the euirject bad treated the que.tiou as
if the farmer had reason to expect ha increase hf mite; fur
the disteess originated to so actidestsl glut. That Sher,
was • glut upon the Coat eent et present no one mold do-
try, and coursed prioripally by the unn-importatioewr mow
into this country. But he could ant avoid feeling Me his..
prime at the Noble Earl's (Liverpool's) speech. for iis the
commencement of hi. able and I uminons statement', he slats
ed the population had consldertarty lurreamed, mud noiwith.
wending the 'distress was ottiultioried by superabondsnee of '
practise*. Mate 1801, the popolatiolt of this errantry had M-
I
creased four militias, but he triold sot admit that there Ltd ,
been an hems, of prudnctiou tat ideouste to the Increase of
popiiiition. Many enchain.* fled' heen made, but IMO had
'she effect of thiamine arable land into psolure, which might
eery well account for the low jeers of cull-, but not cif ann.
fiettingsslde the coastsoevariitielsil and fluctuation. is pricer,
the natural price must always depend 'a; oo the quaolity
the 6re...titling medium. Hr Was not soar, there was icy.
great differenre between the eirtvlatloo In 1791 and the
prescrit. It was not Mar powllo ascertain the quantity
of country bask notes in Cbneindon) bat rhere was 00 reason
to snootier it was greater than i• 1791. To state the
rrestion fairly, they should ascrotairs the power of the
eirculatioe medium by 'finding both. Ile quantity owl veleo
city. la his opinion there was no iii.,.. to say there hod
-been a soperattendsot supply, aw at begot sods as was hot
IBM by the berate* of popw,l•ll.. , Bad It would be 'alp
deceiving the country to hold gait ,hopes that the petters
would be isteireesed ; arid, todemi, she believed the present
was not far under the natural prat Parliament hod reje.t-
-•41 the propreitiou of his mochlatuented f lend (Mr.
Horner). toad adopted the p [oriole that a pound sots and
a 'billow were equivalent to a guinea, and upon the
return to each payments they fluid the country loaded
with au lorreased taxation of tidily millions Mime 1791.
Far be It from him to recommend another alteration In the
currency; on the contrary, be thought they should meet the
duacslty, but at the same time by all meas. to 'cities!' the
distresses of the sgrieulturies. The sgeirultural aid marl,
factoring intermits were materiallydiff: rent. The 'wagerer...-
tone could, iu ease of a glut, diminish the supply, Is order to
used the demand. Not so with the serieulturist. Mee wen
the sosellioe of the agriculturist, and he sees bound by law ti
support the population to wit eeeee r extent it might increase..
It would he no answer to the poor man that be could giro
him no assistance, for the produce of the soil would not re
pay boo. He was bound to rwitiurae the supply, and no ad.
; mime of capital would avail him as in the ease of the ma.
Mifecturee From this view of the east, be was bound to
say that he considered the present pike of agricultural
produce • cared one, and that there was ao realm
for bolding out a hope to the farmer that it would
be increased. But the distress should be alleviated
by lessening the expense of production. He never beard
that taxation produced low prices. Taxation. it was trot,
might other' so heavily upon an individual se to drive hint
prematurely Into market, but that could never effect the
prices generally. He thought the Huy* sod the toiletry ito
&bled to his Noble Fried (the Marquis of Lsintolown) for
his very able and statesors• like view of the question. It
maimed se impression upon the House, and be had no
doubt would upon the country, that would sot soon be for.
gotten. On the whole, be was persuaded the oily mitigation
of distress would be to diminish taxation, and thereby de.
crease the expenditure of production.
The Duke of BUCKINGHAM explaieed.
Lord HARROWBV theta addressed the House, but is a
tone oreesiosally eu low, era to be understood below the
bar. He exoressed his surprise at the statement of the Noble
Lord (Dame) that there had bees no superabundance. But
It had bees very well ascertained that the crops of
1819, 29, aid 21, far exceeded the go in this coon.
try. Besides which the House could not forget the isa.
moose importation of corn from Ireland, which reduced
the prices considerably in England. He r. juiced in the
discussion which bad taken plate tonight, because it would
serve to dissipate that deloMera that so geuerally pre- '
veiled, and which had been 'so properly treated by the I
Noble Duke (Backiaglism),,, namely, that the premed
agricultural disown was to be sitribeted to Issas's/a."
He freely admitted that as individual sight be distress-
ed by the (saturable demand of the tax-gatlierer,but it must
be recollected that there were other demolish' more imperious.
The Noble lard Mee proceeded to state the various cause@
that contributed to create the distress, amongst which (as we
ooderstood him) must be cossidered the resumption of
cash payments, which diminished materially the circulating
medium. The country circulation had bees gradual': de-
messing: la 1116, it was 19;000.000f.; is 1817, it was
10,000,0001.• in 1819, it wars 10,600,0001. ; its IMO.
it was 11,t00,0001.; and in the last year it was
11,000;0001. A considerable reduction bad also takes
place in the issue, of the Bank of England, and that most
moss or kos lead to create • distress. Besides, it must be
remembered that the farmers, in many iestastes, brought
the distress upon throirolves by their improvident mode
of liviog la the day of prosperity. The Noble .Lord seat
addressed himself to the subject of the sinking food, and
compared the state of despnudeace In which the country was
placed before the esteleliebnient of Mr. Pitt's sinking fund
with the present time; end in conclusion he observed, that
although that .inking trod had occasionally been broken is
upon, yet if it were destroyed altogether it would do more
injury to public credit than any measure that ever was
attempted.
'Lord R 26,2041.2 said, one cause of the distress
of the agricultuial ititeetst undoubtedly was, the
great importation of cora:from Ireland. The corn
trade at Bristol was in consequence now running in
entirely different channels from what it formerly
dud; the farmer Could no. longer sell at the markets
near to that city, but Was obliged to send his corn
Putty miles by land carriage before he arrived at the
canal which tooveyed it tie the London market; so
that if he got the same price in the London market
which he could have procured nearer home, Ins pro..
fits were materially diminished be the long carriage.
He did not think the present low prices of farm
produce were so mach to be attributed to the
abundance of the supply se to the distress of the
farmer, which compelled 'him at all events to force
a sale. He thought that, on the whole, great part
of the dt.tress stoat from temporary cause., which
from their nature must soon cease, and when they
did the former would be brought on a keel with
every other interest in the country.
The motion was then agreed to, and the House
adjourned at ELLTEN o'CLocu.

to the idle and unprodueti
large a quantity of produce
„gel/. who rei.rd it, that what rail
te
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j.,,,r.eutuTitherateN them foi
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pn 4
a 40.-
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ma
I ias luitiv.boss—dnve wavy cap
wow, Tlwar erre the glorious a
maw 'il.aul of political economy.
I air kut• to Nome and to Pros'
• .
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