The British Press; or, Morning Literary Advertiser.
London, England, 1821-02-09 00:00:00

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Committees en agaiestilime and .commerce. If he
had to attend Ou the former he would endows
emu to point set bow InatCh injury &encashes*
sustained from these restrictions which were
so indiscreetly sought by agriculturists. The
cisme* of owners and occupiers of land had interests
quite distinct from- each other. The latter 110
contrived to limeade the former that their interests
were the same. and had gained much assistance
from owners of land in that House accordingly ;
which assistance he took it for granted they would
net have if the UM Gentlemen who furnished it
thoroughly understood their own Interco.
Alderman HIY.ATI inejeted that the distress
was not confined to agriculture. The principle of
the Huu, Member for Purtarlington had been car-
ried to a high pinch in America. and the distress
was commensurate. The real cause of our die-
tresses ought to he scorched hrtn. He ridiculed
the vacillations of opinion and the ponderous
hours ef the Ilullion Com • tee, which had
preceded Mr. l'eel's Bill. He considered the
Report of the Committee to be a fuses of patch-
work mid technical jargon, which nirir-tenths
of the people could never understand. The
Bill was the result of the Report, and the
effect of the whole s depreciation in the prices of
I ommoditim, which would have made it more res.
'tumble to have entitled the Bill " Au Act to M-
erriam the National Debt, and all fixed salines red
Maximo owe-third." Rod the House known the
effects produced subsequently by that Bill, it
would have paused before it gave the country over
to stuck-jobbers, contractors, and money-brokers,
whom Providence, not in its mercy, had seemed
to -have prepared for our destruction. Fixed
incomes had augmented in value, and inge-
nuity and labour had depreciated corretpoudingly.
The only resource for remedy was in retrenchment.
Bat the few taxes which might be so taken off would
mead little. One mode of relief would be to attack
the public creditor. But what then ? During a
protracted debate, which the mesaure would de-
mand, the public creditors would escape with their
property from the plunder, deposit their money in
foreign trade or funds, and leave the country with-
out capital. All mortgages and private debts must
be equally reduced; there would be no money left
to conduct manufacturer, and commerce and iiirius-
try fur • lung period of time must aloud still. An-
tither remedy was to repeal the Act of 1818; but
that would look so unwise, after the pains taken to
bilog about the miming of the Act, that it was
not to be thought of. The only remedy was
patience—our sufferings would pass over—the
bellows of trade tirould send back the precious
snebils; in the mean lime it might be advise.
bee to make a fair sad full revision of the dif-
forester caused in the value of office salaries, and
fixed incomes paid by Governmeut ; not
"that the
high offices of State were too well µmid, he was
astonished when he considered how cheaply they
were served. They had raised the value of prices
mud depressed that of commodities 23 per cent.' by
adopting the theory which had been recommesided..
The same thing adopted in the United States of
America had produced a geriend depression in cam-
moolitiesof 40 per oast. They had gone beyond
their purpose. Instead of raising the value of the
• per" Omer to-terty of silver, they had pentad
Um paper beyond it, and the pressure of distress
was so much the greater on the more numerous
classes. These opinions he ventured to offer to the
House, after having bestowed deep attention and
observation on the subject, and having read almost
.all the books which had been written thereon.
On the motion for printing the Petition,—
Mr. Beale° contended, io reply to his Hoc.
Friend (Mr. Ricardo). as to the depreciation.or
commodities, the *fall was not front 4/. Is. Of
3/. 17s. 10d. only. The difference was so great eel
to make 60s. the present price of corn, equal to.
the 80s. the price at the time of. posting the Corn
Bill. The Hon. Member contended ilett the
precistiois was from 25 to 33 per cent. on nearly! .
all commodities—that the difference iu the value •f;
IL now and during the war, was between 01/4.'
fourth and our-third. He attached no value
to the mere variation of the price of hut.
lion, which depended on the supply of that
particular commodity. The precious metals were
the common medium of circulation through-
out Europe. The prices of them depended on
the importations from South America. Any great
addition or diminution of paper money produced
a similar effect iu the country whereit was operated.,
,as
_the increase or diminution in the amount
..f those importations did mu Europe. The banking
-"stem lied done this all over Europe. But when
the Legislature made paper a legal tender in Great
the principle was pushed to such an ("teat
as to give an extraordinary depreciation to money.
iteteroing from this state of things to a fitted urea ,
tante circulation, we had not only to fall from the
prices of paper to gold, but from gold to cutuniodi-
tiea, which, gradually tunst fnllow the augmentation
or diminution of the circulating medium. The
effect of this on manufactures and commerce he
(mould not exactly determine, but it. was equal to a
defalcation in the value of commoditino of from
une-fourth to one-third.

After Goose further remarks by the lion. Gentle-
luau, Mr. lttesaao, Mr. ATWOOD, sod Mr.
Herz, the l'etition was ordered to be:jointed.
Severst of the other Orders of the bey were
.• . .
pot 'putted.
The Lt.ttgitufle Bill west through a Committee.
Report to be received to-morrow.
Alljostrattl ■t ast.P-PAIIT ELEVEN O'CLOCK.

• The Marquis ut Loa DuRDRRRY is recovering fest
fleas his lute Glues..—(Cork lutelligencer.)
HAZARD And Co. respectfully inform the
Public, diet, by a new arrangenient,.oti VOLNNO
7INICS Day (next Wetteesday),the nuclease, of a whole •
Ticket CIO only lose eighterit shallop, • Sixteenth two
1.1,1625,_ siker Shares properties, asd yet have a
Cheese for all the Cannel Phu, that easy be draws
on that day; uid the Public will please to recialitti, that
Thine Pews of 2,000 i. Console esart Hors he dravls • If Ike
Zikets sad Nharts ars reieriord with the above small loos,
aqua Ay NI or iff.r. 204 qf hemmer —The Wheel is redo,.
nod cialisiiss, besides &she, Prises in Cietwola sad Shetwii
a,,♦ii4Aliases awn •riaWuß by
Ibiza ft Dana CO. at astir OA seal } oeintial• Ores, ttsiyal
Elchsvge Galt 26, Curtail!!; and 324, dahseaLatraiet ; and
their Avant le the Country, who saki. the last
o Mo. 1,443, a Priae.r toosot, .eie is ',neat
hellsetea Fear Prises .r akeihn. ,•041 &Wes • ?Ages a
20,0001.

1410, MTALL4NRANr.
=Hy OP CHANCERY, istlEttlJelliiiiih,
tinnisowr, hsau.Aav S. - •
Ttie LARD CIIIANCSLLOIL Case isle Court at halerst
deism o'clock.
IR VMS MATT= OF Till. ILECTIOE OF TIME FRIP.
SIDERT MASTER OP QUltttles
BSI Do It.
The Lo) CILIONCELLOR observed, that he would lit mt
Tuesday seat, the day after Term, for the tutrpore of by*
hut the Atioroey.Gessoral, on the pars or 'he Crowe, 11 thie
ease If Counsel would attend bim.
The Court was occupied the remainder of the day until
two o'clock, in bearialy motions of sto tittered except to the
parties cemented, at !Slating', him Lordship roes.

COURT OF KING'S BENCH, %Vannmasa.

B,IBIWASY 8.
Mr. Justice BAYLCY sat at Nisi Prins fora short
lime in the morning, ■ud dispored of • few uode-
fended causes.
LIBEL ON THE QUEEN.
At the sitting of the Court, Mr. PARK moved
to enlarge till twit Term the rule which his
Learned Friend. Mr. Brougham. had obtained a few
days ago, for a criminal information against the
Rev. Mr. Blecow. He incised this for the purpose
of tiling alfidavi.s, for which there would trot be
time in the present Term.
Mr. Justice BAYLEY—" Does the party live at
LiveiPool
Mr. PARK" Yes, my Lord. and the alleged
libel was published there."— Rule enlarged.
THE KING is. SIR FRANCIS BURDETT.

TIIIIIUDAT,