The British Press; or, Morning Literary Advertiser.
London, England, 1819-06-30 00:00:00

SCOTCH CHURCHES BILL

On the motion of the CHA NCILLOR of the Ex.
CIIEQV Lft, the Report of the Scotch Churches B►ll
was taken into further consideration.
After • desultory conversation between Lo►d A.
Hamiltoii, the Chancellor of Exchequer, Mr.
I lume Lord Dittoing, Mr. Maxwell, Mr. Barham,
Air. Wilson, and Mr. Primrose. chiefly on a
suggestion of Mr. Maxwell, that the stipend to be
granted to the clergy appointed to officiate in the
ew churches should not exceed 350/. per annum,
...inch he gave notice that he would take the sense
01 the House on the third reading. the Report was
4i4reed to, sod the Bill ordered to be reed the third
time to-morrow.

SINKING FUND LOAN BILL.
On the [minim of the CHANCELLOR of the
EXCHEQUER. the House went into • Committee on
the Atom Bill.
Mr. W. SMITH expressed his spiwobation of the
niensure, which, he observed, was precisely
sr-
miler to that which he hnd prapo•eri three years
oYo—viheu he expressed his opinion, that either a

Bill of thi, kind .ho'?il he rettortod to, or Parris-

neat would be obliged to reduce the interest or the
. .

lotions! debt.

The CHANCELLOR of the EXCHERVER said, he
had always protested against reducing the Wettest
of the debt, because it would he • gross violation
of the public faith, which hail been pledged to the
public creditor. The present Rill was, however, a
perfectly fair one-roind wins 'mired, contemplated
by the Act of 1746. He viewed this measure
with peculiar gratification, became it wound up
and terminated the loan system. The sum which
would be wanted, for the service of the next
year would be exceedingly small—and the cootie-
quence would be, that those 'peculations which
edified such changes in the money market would
he removed. fit the course of the emoting year it
would be only iteceveary to borrow 4 or 5,000,0001.
beyond the sum taken flow the sinking fund—
and even ifcgt, perhaps, would he so materially
reduced as to prevent a loan from being made in
the public market.—(lleur.l —lt was feared that
the restricted means which would he left in the
'mods of the Commissioners foe the reduction of the
notional debt, for the purchase of stock, would have a
prejudicial effectin the money market. But, whe-
ther stock ass taken out with one hood, and re-
placed with the usher. or neither bike', out nor re-
placed, could, in his d, make but little dif-
keence. The price of stock, like that of every
*thee article, must depend on the supple and de-
mand—end, when the supply was perfectly known,
by doing away public loans,. the demand would
become steady, and must hove a progressive
and beneficial effect on the prices. With respect
to the 3 per cents., in a Inch the bidding% took
place, and which governed the price of the market,
he wished the House to look to their moots*, when
the luau system wits closed, as compared with what
it was some time ago. Ou the sth of January,
181 S, when the price war above 80, the total
amount of three per cent. consols existing in
private hands, or held by corporations, was
372,000,0001. capital stock—and, on the sth of
July. WO, when the whole amount of the
present loon was paid in, it was computed
that the twat mount of 3 per cent. consols would
be 368,000,0001. So that the total amount of
capital of that stock would be reduced in the sum
of 4,000.000/. nopeiilistooding the great extent of
two loans. On the sth of January, 1018, the
total amount of three per cents. reduced was
135,000,000 L—in July, 18-20, it would be
133,000,000 L—being a reduction of c 2,000,000/.
Thus there would be a diminution of 2.000,000/.
3 per cent. reduced, and 4,000,0001. or 3 per rent. i
console, on comparing the stuck in July, 1820,
with its amount ut this time—and the system of
public loans would also wholly cease. They had
therefore great reason to hope for a progressive im-
provement in the funds ; not that sort of improve-
ment which chewed itself by starts—but that gra-
dual, slow, and constant improvement, which in-
dicated the healthy state of the circulation.--.
Suppose, next year, the same sum to be taken
from the sinking fund, a larger fund would still
remain for the liquidation of the debt—twenty
thousand pounds per day would then be appli.
cable to the purchase or stock.—(Hear, hear.)—
in addition to this there was another resource of a
most happy kind, and by no means an inconsider-
able one. by which the funds would be supported.
He meant the coostaiit influx of money from the
saving backs.—(!fear, hefir.)—The amount of
money paid io on account of the saving banks was,
on an average, 20,000!. per week—and the suits
which had already accumulated in the hands of the
Commissioners (which formed no part of the sinking
fund, but which had the same effect as a sinking
fund, since it was kept apart, and was nut sent into
the market), already amounted to about 3,500,0001.
—Meer.)
Mr. W. SMITH said. if any person were ran•
genie enough to imagine, that with such a reduced
sinking fund the debt could be so far diminished
as to enable this country to enter into it war speedily,
that individual viewed the matter in a light dif-
ferent from that in which he saw it. if, however,
the reduction of that fund rendered it mote diffi-
cult fur Great Britain to plunge into war than she
WWI wont to do, its diminution was pel hapS a sub-
ject of congratulation. He heard, with pleasure,
the statement of the Right Honourable Gentleman,
relative to the success of the saving bank *Totem,
because it sliewed that there was a returning spirit
of morality amongst the people which ought to be
cherished and encouinged, as the surest means of
securing motional wealth and natiottel safety.
Mr. RICARDO said, the Right lion. Gentleman,
while he stated to the House the amount of 3 per
cent, stock that had be-it reduced in the year. kept
totally out of eight the amount of the 3.1 per
cent. that had been created in the same period.
which, in fairness, he ought not to have done. As
to the saving hanks, lie participated in the plea-
sure which his Honourable Friend felt at the state-
uncut of the Chancellor of the Exchequer, and
approved very much of those institutions, which. he
conceived were likely to operate beneficially for the
' poor man. by enabling im to secure soy savings
lie could lay by. He did not, however, agree in
the propriety of vesting the sums derived from the
saving batiks, in the three per cents. because they
produced an interest below what might be realised
by the purchase of Exchequer bill.. and be
was sure the Legislature wialied to favour the
poor mall as much as possible. He regretted
that the Right Honourable Gentleman, when
he touched upon the sinking fund, had not made
a permanent arrasigement--such an arrangement
as would pot an end altogether to the delu-
sion which the country had so long laboured under.
He believed. that, fur the last two or three year.,
there had been no sinking fund whatever—and it
would have been better if the Right Hon. Gen-
tleman had conic down and avowed a fact which was
known to every body. He feared, however. that the
Hight Htal.Gruilealin intended, if possible, to keep
up the delusion. It would be more satisfactory to the
country and to the House, if they were plainly told
that the sinking fund only amounted to 5,000.0001.
instead of deceiving them with a nominal sicking
fined which had no exiatencr.
The Cu a acer.t.cia of the EXCIIVIVER said. that,
or the 47,000,0001. of 31 per cents. that had been
created, 7.000,0002. had already bees' provided for,
leaving a capital of Y 0,000,000/. As to a general
measure, wail respect to the *inking fund. he did
not think they had yet arrived at the time,

TH E Bit SFL PitES S.

LONDON,
WEDNESDAY, ACNE 30, 1819.

The flank of Ireland Cash Payments Bill was
last night considered in a Committee of the House
of Lords, and an amendment proposed by the Mar-
quis of LANSDOWN was adopted, whereby it is sr-
ranged that the Banks of England and of Ireland
shall pay their notes in bars of gold at the
same rates and at the same periods, sod shall
eventually resume payments in coin at the some
time. In all previous Acts relating to cash pay-
tnents by the Banks of England and of Ireland,
the restriction was meant to be coutinued ou the
Bank of Ireland for u period of six months after
it had ceased with respect to the Bank of Eugland,
on the presumption that this length of time was
requisite for the former, by way of notice. It is
now, however, considered that the present plan
operates as a system of notices, mid that whatever
advantage the Batik of Ireland may derive in point
of preparation, from the additional period of six
months, as allowed in former Acts, such a provi-
sion would, in the present instance, be atteuded with
the serious inconvenience of miring gold to bear
different prices at the same time in the two countries.
The new Insolvent Debtors' Bill was read a
second time in the House of Lords. Some com-
plaints were made by Noble Lords of the want
of respect Which seemed to have been mani-
fested towards the Upper House by the other
House of Parliament, in wet having transmitted
so important a measure as this is for their
Lordships' consideration at an earlier period
of the Session. The Lade of the House a Lords
is at present loaded with Oleo of parchment, to
which it would be quite impossible fur their Lord-
ships to !my proper attention previous to the dote
lof the Session. The consequence of so inconvenient
an uccutualation of business, end of the rapidity with
which it must be disposed of, most be extremely

ii.piriotts to die country. it CIO 10. nt,viatril In
(WWle solely• by Ministers causing Bilis, not con.
fleeted with pecuniary matters, to
soriginate in the
House of Lords in teed of in the Iloustof Coo.
mons. Indeed vie Mink it would be advisahte
all measures relating to matt4rs •stilitly legal or
judicial should originate in the Upper House.

• The Houle or Commons met yesterday at two
and examined witnebpes upon the Gram-
pound Election.

On the motion of Mr. VYNN, the Attorney
nod Steliejtor.Criii.tia were ordered to move the
Court of King's Bench to pronounce Judgment
upon Sir Maris.seli Lopes. and the other persons
convicted of bribery et the bind Election.

Sir W. DE CRF.SPIGNY gave notice of x mou
Can for Fliday stem. to consider of Mr. Owen's
Plan fo► ameliorating the condition of the Poor.

• In the course •of a series. of observations which
the CHANCELLOR of the EXCHEQUER made on the
financial state of the country, last night, the Right
Hem. Gentleman informed the House, that a sum
of .20,0001. the produce of Saving Banks, was
laid out every week in the purclisee of stock, mr►d
that a sum of 3,500,000/. flowing from The same
source, had alreadyaccumulated iu the :►ands of the

Paris Papers of Saturday last have arrived at our
Office. Accounts from Madrid, of the 14th, at.-
tiounce a new change in the Spanish- Ministry.
The Prime Minister, the Marquis CASA•Iauio,
received in the night of the Nth, an order from
the KING, enjoining him to quit Madrid before
seven o'clock in the morning, and to proceed,
with ■ll his family, to a village in Old Castile,
which was performed immediately. The name of
his successor is not mentioned. but Don MANUEL.
GONSALEZ SALMON is charged provisionally with
the duties of his office. Dolt FRANCIS EGNIA,the
Minister of War, is also dismissed from his .eraploy-
ment. avowedly on account of his ill health, but this
sloes not prevent him from holding the situation of
Captain-General of the Kingdom, and of the Cost
of Grenada. The duties of the War Department are
provisionally confided to Lieut.-General Don JOSE
MARIA ALOS, who is also to perform those of the
Ministry of the Marine. The dismissal e the
Prime Minister of Spain. in the present instance,
is marked by the same duplicity on the part of his
Sovereign, as was shewn on the dismissal of his
predecessor. The Marquis t!....ASA-Illttio trans-
acted business with FERDINAND a few tours
previous to his receiving the order of banishment,
and perceived nothing in the deptritinent of the
KING, to excite any suspicion in his mind of having
lost his Master's confidence. The Counsellor of
Wes, HEREDIA. has been exiled to Almeria. It
is thought that Don ON is, who has lately been Mi-
ulster in the United States, will be made Prune
Minister.

Si►rce the return of FERDI NAN D to Spain, about
five years Since, there have been Sweaty five changes
of Ministers in the five departments, v►z. s►x ►n the
Finances, six in the department of Justice, three
in the Marine, five in the %Vat, and six in the
department of Foreign Affairs.
The French Five per Cents. are 68 f. 75 c.—
Bank Stock 1,517 f. 50 c.

Yesterday Viscount CASTLEREAGH had a long
audience of the PRINCE REGENT at Carlton
House.
Accounts from the Cape of Good Hope to the
17th of April, state that information had reached
Cape Town, that a detachment of troops, joined
by a number of the inhabitants, who had been sent
to suppress the Caffrees, had succeeded in driving
them back. The corn districts were in a great mea-
sure cleared of the savages, and the country-people
were returning to their homes, where they considered
themselves secure from any further attacks, at least
for some time to come.
Letters limn Cadiz, it is said, state that the
Cadiz Committee, rendered suspicious by the bad
bargain fur ships, lately made with Russia, insisted
ni on stripping the British transports lately taken
up for South America before they proceeded to sea,
and that the Captains having refused to submit,
the transports have been discharged.
A regular packet has been at length established
between Plymouth and St. Maio ; she is expected
from the latter port daily. The intercourse be-
tween Plymouth and France has much increased,
and of course is now likely to he much greater.
On Friday two troops of the 7th Dragoon
Guards arrived in Gloucester from Bristol, where
they are succeeded by the 16ib Lancers from Ire.
land. On Saturday they proceeded on their route
fur Nottingham, where they relieve the 4th Dm.
goons.
The 4th, or Queen's Own Dragoons, arrived at
Waterford on Thursday and Friday last from their
various detached quarters, stretching across from
Cork to Limerick, and were embarked on board
vessels which had been iu 'shit% at the Parade,
sad which, upon receiving The troops, imulediately
hauled off, dropped down the river, sod proceeded
to rea, with a fair wind, for Biddefoed.
At Ilcheiter is a large house, by some called
the Castle, and by others the Rookery. This
building, I g being let is stories, as distinct tette-
meats, each entered by as open stone staircase,
affords dwellings to • number of families, and the
occupier of each teneseut is entitled to • vote at
the election of Members for that borough. The
numerous inhabitants of this building having, st
the last election, been guilty of voting according
la '

deprived
of
the

rllr//■

to the dictates of their conscience (winch is " the
very head and front of their offending"), are to be
deprived of the free elijoyment of the ligbt end sir
of that God who ammo the sue melting alike upon
the rich and 11111041 the peer, by the erection of
•
well about thew feet Chic* cod Mires fits high,
within a few feet of their doom end windows,
which well is now being built, and is already
breast high l--(Glareerter Journal./