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

twelve months, so that it wnuld be quite impossible to carry the
pleasure into effect. Some nelsons most undoubtedly sustain in.
jury, but the injury should be only meettured according to the in.
convenience which should thereby be sustained by the public.—
After what had been stated in this House, relative to putting a
stop to the circulation of one and two pound notes, lie thought that
the manure of refusing to stamp these notes could create a panic
only arm nest the barkers.
Mr. CA ',CRAFT said that he had heard from gond audio.
rity that the refusal to stamp these notes had the effect of decreasing
the value of paper money. It should be remembered that the
bankers paid for a license to issue those notes, and that those
ceases v. ere in full force until the 10th °them October, and this by
authority of an Act of Parliament. Yet his lion. Friend (Mr.
Ellice) overlooked all this as if it was nothing. The Chancellor
of the Exchequer had very properly treated the subject with greater
serionsmeee. It was a gla-ing violation of the law, and lie hoped
that some more eonsti.utional proceeding would in future he adopted
than to act upon the hint of a projected Bill as if it had actually
passed the (louse. With regard to the depreciation of the value
of paper money in consequence of the measure alluded to, he had
his Information front one of the moat eminent bankers in the
country.
Mr. ELLICE explained. if great Injustice had been done to
any int,ividuals. however great the hardship, it should be recollected
that the case was (tee of extreme difficulty. If the Chancellor of
the Exchequer had not taken the step he but taken the country
bankers would have very quickly supplied themselves with as many
stamps as would have Issued them for a considerable time, anti of
course the measures in contemplation must thereby be rendered in a
great measure nugatory.
Mr. CURZON said that the conduct of his Majesty's Ministers
in preventing the distribution of stamps was a measure which
deserved the severest reprobation. The course which Ministers
Punned in that instance was must extraordinary and unaccountable,
for by taking upon themselves to contract by those means the cir-
culation of mall notes, they anticipated the conduct of Parliament,
and made themselves parties to a line of policy which might be
afterwards found to be at variance with the decision of the House
upon those measures which engrossed so much of their attention.
Reference had been made to what ha t fallen from his lion. Friend.
(Mr. Calash) on a late discussion. Did his Majesty's Ministers
wish to strengthen themselves by referring to observations which
had fallen from Members on his side of the House ? If such was
their inclination. they would be disappointed in the present in-
stance; he (Mr. Calcraft) did not attribute the commercial (WS.
cultic* which prevailed entirely to die country bankers. He
said that Ministers had stretched their authority, and had,
by interfering with the distribution of stamps, adopted a plan
injurious to the country. when, by introducing a abort
they might have obviated much difficulty; indeed he himself
thought the inconvenience which country bunkers experienced from
the conduct of Ministers was very obvious. A country banker, en-
tirely ignorant of the determination and views of Government, sends
his note, to London to be stamped, and in the expectation of obtain.
ing them back again in the regular course of business, enters into
engagements which, in consequence of the intervention of3l inietere,
he is unable to meet. This tnust of course expose him to great in-
convenience. In the years 1821 and 1822 great agricultural die.
tress prevailed ; the present conduct of 3linisters was calculated to
produce the same result. On former occasions it had been the po-
licy of 31inisters to increase the circulating medium ; but now it
appeared the wisest method to decrease it. This discrepancy he
would not attempt to account for, and he feared those who advo-
cated and supported throe measures would be equally eta hem to
reconcile such opposite extremes. He hoped, however, that they
s mild pause before they plunged any further into a course of pro-
ceedings which he was mitre would be ruinous to the country.
Mr. ROBERTSON said that he did not by any means advo-
cate or approve of the present banking system, and he was persuaded
that much distress grew out of it. He was confident of the effect
the measures of Government would have out of doors—he could
not be ignorant of it ; and though they had eaten much commercial
distress, he was convinced they had not yet witnessed the worst.
If Ministers persevered in the measures they had begun, he felt as.
sured they would be opposed by the people in every step they took
in such an inauspicious course.
Mr. MONK approved of the conduct of Ministers in contracting
the circulation of small notes. He could not be brought to think
that the people would be opposed to those measure*, when lie knew
that in the Northern counties depots were formed for the reception
of those notes to be afterwards returned to the hankers. The issue
of those note"; might be contracted without any inconvenience, by
withdrawing them from circulation by degrees. Ile would con-
clude by moving, t- that there be laid before the House an
account of all promissory.ncees issued by the Banks since the 3th
April last "—Agreed to.
Mr. HUSKISSON moved for lave to bring ins Bill, on Mon.
day next, to carry into effect the treaties lately made with the South
American States.—. Agreed to.
The House, between seven and eight o'clock, adjourned to to
(this day).