The British Press; or, Morning Literary Advertiser.
London, England, 1821-04-14 00:00:00


(For Anita awlAlkeallimese Betatiposes, mial;;;I;)
THE BRITISH PRESS.

LONDON,
SATURDAY, Aram 14, ISO.

The Bank Cash Payments Bill wits read • third
time last night in the House of Commons, and
ordered to be sent to the House of Lords. Upon
this Bill we have hitherto abstained feat offering
any remarks, becaose we have been for some time
doubtful whether it ought to be considered as •
measure of general policy, affecting the fiscal and
commercial arrangements of • great empire, and
framed upon an extensive view of our foreign rela-
tions and domestic interests, or whether it is to be
treated as a matter or police, adopted for the better
prevention of the crime of forgery, and to super-
sede the necessity of devising any scheme for im-
proving the engraved dies of the Bank of England
notes. The immediate operation of the Bill, at all
events, is to relieve the Bank of England from
every resin:list upon the payment of its notes in
cash, and therefore clown at length the system
that has been so long and so fatally known under
the Dame of the " Bank Restriction," but it does
not entitle the public to insist upon obtaiiiing gold
for notes, the agency of the measure being still re-
posed upon the discretion of the Bank Directors.
This circumstance gives another character to the
Bill, totally distinct from either of the former, for
the avowed purpose of this provision is to relieve
the Bank from the inconvenience of keeping in its
coffers the large hoards of coined gold which the
Directors have collected within the last two years,
and which must necessarily continue to increase, to
the great embarrassment, as we are told, of the
Bank, the bullion market, and the trade that is
Reversed by bullion, unless permission be afforded
to the Bauk to send forth such quantities of it
into the world as to the discretion of the Directors
might seem meet.
With respect to the present Bill generally. we
are disposed rather to approve than censure it,
but our approval should have been unequivocal
and absolute if the Bill, instead of leaving the
issues of gold discretionary with the Bank, had
altogether abrogated Mr. Miss.'s Act, and restored
the currency to the state it was in previous to Mr.
Pmt.'s first measure of restriction. We under-
stand that the present Bill meets with the Wiest
ocrocurrense of the Bank Directors. This arises
from the circumstance of their having been en-
abled, by the reduction of the paper currency
throughout the kingdom, not of their own notes
alone, but of those issued by country bankers, to
purchase large quantities of bullion at a price
lower than that of the market. Paper has in fact
been for the last twelve months at a premium. be-
cause from the restrictions upon the Bank. the
gold coin was not let into circulation to compete
with the paper, which was the only other medium
of currency. The ordinary price of gold, as quoted
in the market. has remained for the same time
steadily at the Mint price, which by en obvious
' effect prevented gold from bring thrown into cir-
culation by private individuals. These circuits-
stances, therefore, of the accumulation of specie
iu the Batik, and of the market price of gold being
equal to that of the Mint, thus combined, prove
satisfactorily that the time has at length arrived
when, without the possibility of danger or inconve-
aieuce to the country, the currency might be at ,
*Ace restored to in enteral state; and the Directon
.r the Batik be relieved from the serious public
reepontibility that this Bill now imposes upon
them. We must confess that, considering the Bill
in the light of a measure of public polity, framed
with the views to which we have already alluded,
we are veribusly apprehensive that from its indeci-
sive character it is calculated to do more of harm
than of good, and are of opinion that it would be
better for the country to await the regular progress
of Mr. Pest.'s Act. unless the measure of cash
payments were made at once complete in all it.
pmts.
There is, however, one consideration involved in
the discussion of this Bill, which is no less honour.
able to the Directors of the Bank of England than
it is important to the interests of humanity. The Di-
reetors of the Bank, fearing that the plans suggested
to the Cnintnission for reistleiiiii the crime of for-
gery more difficult, would not be attended with the
desired effect, have approved of this Bill as the
only means in their power of meeting the wishes of
the public; and they have resolved to withhold the
future issues of one-pound notes. and substitute
sovereigns for them. unless, as Mr. PIAUI stated
in the Heine of Commons, ou Thuriday night. the
necessities of the country bankers might reader a
partial issue of one-pound notes at any future time
expedieut. This consideration, we doubt not,
eaerened no small influence upon the decision of
the House of Commons on this Bill, and ought
to be all powerful in 'dining opposition, did it not
occur that the very same advantage would ensue
from a. Bill restoring effectually and completely the
metallic currency of the realm. But we fear that
even humanity will have no cause to applaud this
Ad/- e; for should the effect of it be the mine
as that of iusoßr iseasurei not very dissimilar in

paieCiple, was 40016134. d lo be carried hale
effect a few years since, under the discretion *film
Banks and which uselessly exhausted a eery large
quantity of gold min to the amount, if we recollect
rightly, of 0,500,000% Paitiament *ill be once more
required to interfere. and to preserve the coffersof
the Bank frets being exhausted by the discretionary
issues*, site Dinette's; 110 that the period will be in-
definitely &Peered at which a metal li ccurreney might
be perwutneotly and indefeasibly established, and
the country be relieved from witnessiug scenes at
which humanity shudders.
This argument of the CRANCELLoIt of the Ea-
cutlet's& in favour of this Bill. drawn from some
supposed necessity of preventing the influx of gold
into the Bank, which was attended, in his mind,
with various evils to the Bank, to the public, and
even to foreign nations, by deranging their mone-
tary system. seems to us not to have been founded
in sound reason. We have already remarked, that
from very obvious causes the paper currency of the
country has been raised *atonality in value, and
that gold has been proportionably diminished.
Paper has been at a premium, gold at a diteount.
This being the state of our market, gold, of course.
rapidly poured into this country, as it did also
into Ireland with 'still greater rapidity for some
time, in consequence of the operation of similar
causes. If the Bank felt the pressure of this in-
convenience, nothing was easier, or more in the coo•
trol of the Directors themselves, than the remedy :
they had only to do that for which the country
at one moment would have felt deeply grateful, to
them, increased their own issues until they re•
duced their notes to an equality in value with gold,
and they would have no longer to complain of the
inconvenient influx of the precious metals. We
would wish moat anxiously to impress upon the
Directors that they ought to be prepared to meet
the effects of this difference in the values of gold
and paper, when they come to supply with gold the
deficiencies is the paper currency. When gold
once finds its way into the circulation, its first
effect will be to correct all 'sifting anomalies;
the Directors, therefore, must not be astouished
if they find the demand foe gold in the firm in-
mince greater than they .perhaps now expect;
they will be disappointed if they think to supply
the want of the one-pound notes by a quantity of
gold exactly equal to the amount of note* which
are to be withdrawn front circulation. The plivW*ll
currency or the country is not sufficient for rem:
Denting the necessary operations of exchange end
commerce, and the imago 4.1 pfspioqg
thousand vasiosta mode" riga:rad brilibillidal‘t
stances of a highly wealthy and industriims society.
Sboald gold, therefore, be thrown into circulation,
enough will be required not only to gratify curio.
city, and the love which some people still enter+
fain of hoarding gold, but also to satisfy every de-
ficiency, and meet the necessities of society. No.
thing can be more injurious in any country to the
efficieocy of its currency than the circumstance of
its being composed of different species, for the
tightest variance in their relative values will de•
range the whole system, and reduce the country
to the extreme inconvenience of frequently wanting
the means of carrying on its domestic commerce.
Should any embarrassment arise from the operation
of the present measure, the effect most to be appre-
hended is, that the evil will be attributed to the
principle of cash paymeata in the abstract, instead
of being ascribed Ao a particular measure, and
that a willingness will thence be generated to
perpetuate the old paper system. The failure of
the former half-measure a few years since caused a
delay in the retorts to cash payments, which was
attended by the very worst consequences. We
sincerely hope that the present attempt will prom
more successful.

• 1.

Thole was a report yesterday in dm City that
Lima had been taken by Coerieral AIM MARTIN
and Lord COCURANB, after a severe engagement,
but it could not be traced to any authentic soon,.
'Elie event is not rely probable the previnuir ac-
counts having stated that these Comminders did
not meditate an attack capon that•cepital, but ex-
pected, by their prevent*, dr gives pribpoaderunce
to the party within it favourable as the canoe of
independence.

The Paris Papers of Teesday last hare ankle&
At the dote of the lest ercormls Ne
Turin, and Genoa, the public traequitlity wee"ott.
disturbed in theseseverel cities, recently the struts
•.r so great sgitition. The prestedt Piioeri ewe-
- esenicate no new evenly,- but they gist- mane parti-
culars which tend to explain or supply the detects
of previous details. The Milan Grimm osisteins
the Austrian official account of the pregreis of
• Baron Futtisour's army, from the 21st of Horeb to
its entrance into the city. of Naples: This article,
with General CA ea.scosi's accused eribe defection
of his corps, which, with unparalleled beardeuraed
perfiily, fired upon its officers, NA pootkolloy
himself, is given in our retracts.
On Friday week the Earl of Klarona met with
a very serious soMdenie while burning with his foe.
hounds. Hie Lordship's coffer-bone is beebenl
bat we have the pleasure to say,. thee the• bode
having been shook instusidistil wet lie is In a fair
'eye( recOveri.—(Ditiski Pi er4

[From " Blackwood's Edasearsk Magaidas.l
SONNET.
Calm Is thy silver bosom, lovely Clyde !
At i►ia sweet hoar of ev'aing, wheal thegldie
Of teddy masa, kissing t►ee, dulls throw
A c►ain of lustrous rubies o'er thy tide,
Claanuieg the balmy zephyr. as they glide
O■ silky wings ethereal, so slow
As If they slept in flying. Even so
Wert thew, sweet stream, ere on thy verdant skit
Agee the abodes of wen; and whew the rage
Of time shall desolate the busy sane,.
Haply is some far distant future age
Oa such an eve 4 traveller stay lea■
Atild thy roirous domes, chile on hie page,
He writes wit► treliblutg head, Here men ►ave
Ikea. - X. T.
SONNET.
,it TO ROBINSON CRUSON.
Frieod of ray childhood ! many a weary day
rh Haat past sines fret I listeu'd to thy tale,
Sinai int I saw thee base before the gale
r To she wbld .►ore, or mark'J thy deviate wiry
Oa you far Isle. How oft when &Ding grey
Cane darkhng down upon the peaceful vile,
Soothing all murmurs save the 'hamlet's wail,
How oft with thee I've cheesed the hours away!
t' How have I joy'd *ben thou a smile didst wear,
-Vs Iw garnishiwg t►y habitation wild;
And moored to marl upon thy cheek the tear
Shed for lby (tired% from whom t►ou oast laird.
Easily thew my youthful heist (veld hear
Part or in joy or wo•—• simple child. X. Y.

s

PARISIAN FASHIONS. .

The season b Ise umfsroorable fur the promenade, we
toast seek the fashions it the spectacle; there we hare re-
Ma►ked several robes of Ba►eges, ►igh ia the neck, fuming a
.beef before sad behind. The opening of these robes is bid
in the plaits of the back.
Long w►ite glares and short sleeves a►e very genets'.
The small silk bootees are moth in fashion ; Within' t►e
sloping band across the leaf, there ore two others at the dis-
tance of three fingers. These sloping bawds are its a *Preen-
ties lime, and are pleated is the tattiest@ like an English
pato with bright roses.
The snore we approach the i.e moron, the more handker-
chiefs sod ►lsck veils saultiply.
The new ribbons are of taffeta, very brawl sod watered.
Sow hove Ikea stripes lengthways; others oily two.—
IlMala Stripe, We clouded. mew flowers are coatis%
1w ~Mfsw They are of the nmeierome fatally of the
sod iris. The. Idea see are
sad lilac are two roles'
Wire' NW ghee.

- •

PASHIONARLR PARTIES.
The M•rials sled Marebiesess of Liesdows estertaiord
Mr. sad Lady Eliribetb Campbell, Mr. and Mrs. Abereom-
by, Mr. aid Mrs. Ord, Mr. Crsesies, amid a melees party,
alt diese► yesterday, at Lasadows-bourse, Berkeley-sqsare.
Dowager Lady Asticy bas itt•eed acrd• of ignited's for
a rest ow the 3d May, at hot Imam is thareelloh-opmee.
Tka Earl of Liameriek will give • greed melertaiewiest
•arrow to a distieguisbed party, at his boam in //ambled-
street, Cavendish-square.
The Earl and Countess of Arras estertalseel • select party
of faskiesiables yesterday evening, at their boom is Dover-
street.
Captain WWI Mrs. Cost will have • large dimmer party on
ske ligth lastest, at their horse i■ Great Geerge.street,
Westmiester.
Lady Compton gave a splendid root yesterday evening, at
kir bourse in Lower Grosvenor-street, which was bath er
reeressly mid feasiataably &needed.
Hon. Mrs Lionel Dealer estertal•ed a large party ef
distinguished fashionable. yesterday camas& at her bums
is Geo►ge-street, HaestAreemplare.

PASIIIONARLS ,SIOESAIRNTS.
The Dote sod Meeks of Itieholood ere shortly (=peeled
. .

is tows frost their seat, Miersks; Seismic.
The Margate sad Manilas 's, of Lasadown will leave
town seat week for Brighton, fbr the holidays.
The Marvels of Elites- fraiarrived at Orightno, froan his
Pest, Derltigh, Liocelashire.
The Earl asd Gumtree WaMcEntee left Theresa' del,
Berkeley.equme, yesterday, for their seal at Twiabedlliallk,
Lord dbingdita arrived yesterday at his hems la Dares-
street, from his seat in Oxfordshire.
Lady Jonei left her houte is South AsfellefiAltay.
day, for her seal, Wortiiing Howe, sear Ilmisigilholge,
Lavd.Rivers has left tows for his seat neat xtratomilia
The Earl of Abergasesuy has left isurs..,fiag bkb lest
&Op Comic, Sussex.
Her. Juba Somers Cocks, Id P. left town pisfritti
his Mat, the Priory, Ryegate, literrey. :1
Tile Murelflosesir of Salisbury and Lady Mg.
ley leave tars to• mom. for Hatield, for the .
.Detraettites from Pow•oles Hotel, Si. James's-stress utiJniss
Waddisgtos„ Ea* sad soa, for Hurts; George Firapar, Esq.
for ditto ; Charles Campbell, Esq. for ditto.
Arrivals at Lon g's Hotel, Dover-dreet :--Sir Joie Girard,
Bart. from Cheheuham ; Robert Ovine, EA, finis Madtai.
• Animism Hodgson's Hotel, Dommuereet r—Lifon. Mr. slid
Mrs. Hare and family, from their mg is Ireland; Thaw
Fairfax, Ea+ from his mat is Yet kaltire ; Bartlett, Salt
and -- Boyd, Esq. from a tour.
The Hon. Miss Madrid' arrived yesterday at the Pribie
Dm Coburg Hotel, Charles•dreet, .Gresvesur-aqsare,
Bath.
IN iorett ~ rt i-, •
.gL
limed Middleton has left tows fan* east Built Yolk.
shire.
„p..
Sir W. Rowley, Bart. left lowa , pm
Tesdrisg Hall, SuffOlk. PP 1
Departures (ram Read's Hotel, Lower GrsibiliiiMMlMlPt.
W. N. I.larrinc Ertg. foe Chelleahaas valifillagisurs, Llmp
fir lie maapapiek Hill,
• Ireilmeop the Princess Auonwra and Prince.
Howl wait'

Elll .01i, ABNLOUIt Lanosirsounta, left
for Kinr. end returned in the evening;
The Duchess of KUT dined avian with. her,
•Royal Brother, Prince LnoroLin,yestilinity. Theist
*two present to meet her Royal Higlioolo-
-4 The Duke of Sweies, the Earl sad Consilllilt of Iledge-;
'aleph the Dotragorilerellielleeg ODeevoefilokilte Dewey"
Lady De Clifurd, the Earl of Liuderdele, Lord log Lab
I,i)aieneoon, Earl of Cimarron, de.. ,
litoiatAGE 15.,1110111.114.1-40,111,00 Au*
-10 this day laid to the hy I sithr nutters
Weis'. After the c:ereowny they ioteed to
'rive tow, for bet ILodyolop's setup Ufigogilaill•


•
POETRY.