The British Press; or, Morning Literary Advertiser.
London, England, 1819-01-30 00:00:00

WECT3IINCTER lIVSTMGS.

Oa the motion of Alf. BRIJ PIETT, the Honss re-
solved itself iota a Committee on the Westinioster
Ilustiog. WI, and the Report was ordered to be
rev rived on Monday nest.
COM), TT rEE OP SUPPLY —STATE OF THE
SILVER CURRENCY.
The (7itsxeritt.ol of the ExcMcQuaa moved,
this' the Order of the Day be reed for the House
vino iiito re Committee of Supply. He made this
'notion for the purpose of pompouir.g 11w Commit-
ter until Iloitelay pry.
Mr. CRES TSLL said, that on Wednesday evening
lie had called the attention of the !louse to a subject
al great importauer relative to the Silver Currenry
if the country. He had then stated, that the
standard price of silver ill, at the jot-sent moment,
5 7141. per ounce, being lid. iii the ounce above
what ss fixed by the Mint regulations—null, at the
time these regulations were made, in the year be-
fore last, silver ass from four to five per rent. above
tile psier then quoted. NOW it must be evident to
very Gentleman* who understands the subject, that,
as soon as the standard pike of silver shall arrive at
which will afford a temptation of profit,
either by melting or exporting. from that moment the
country would experience a gradual rlimi:rpearatice
of the silver currency lately circulated, in the tame
stay, mill owing to the same cause, to which the dis-
appearance of the gold coin may be attributed.
Oil Thursday morning he went into the City fur the
purpose of ascertaining with full precision the state
• of the bullion market, :tool lie asceitained from the
Hoot aceurate sources that the market price of
bilVcr, tint of dollars, but of the silver such as was
used iu the Mint coinage, was 51. I'd. (not ss. 71d )
pre ounce. The prawn! weight of silver was then
at the rate of 675. The coutitry was at present '
placsil in this situation, that 66 Allot shillings were
1.1 be looked ninon as equal to 674. according to the
market price of silver. That was precisely the
situations of the present silver coittage ; a • that
ibrongli di...estrum of the Cliatii•ellor of the Fische.
quiet. errsuits were. ridiculous!; called upon to sal':
,sat Vie. were equal to 675. At the 'busted mar-
ket price a molter had only to put 665. of the Mint
iiito bit cultl6le, in a sharp lite, as the welters
t. ruled it, mid out rime, aft. r the process, re lump
f .olvrr winch. when 1•Ikeil !till) the market, pro.
..•tl in a 111.11it1.1 Of II slulhug ober the
I
I. 1, rt !WV (slue.. Tilr tilt regulation price had!
',rally met his appr..bAion, hist slot so the sr.
toohate suspension of the Bank paymetits in specie:
The R, lit lion. Cientleniati (the Chancellor of the
Exchequer) had said on a former bight thit this
•ate of the silver curreory was not I.kely to be
.f long duration. tie (11 r. Cretileli) had 110
'ulb in the Right Honourable Gentletuali's
.spectations ; he could not countenance his hopes
nor his prophecies, connected with the resumption
rif creek payments. Every heady rementhered the
Hight prophecy before the
Committee—that Bank cash payments
mild soul, be resumed, and that in f.ct the public
11-Ida Mork note in the same estimation they slid
guiriea. But before the tusk was dry which
its Resolution was transcribed I his paper to
the intoned. of the Ilmise.—iii the niaiket, where'
tie II: glut Hots propliecics ceived

little attention, that Book note for 20s. which
was in inch estimation, that recording to the Right
lion. Gentleman's declaration, a person had only
to add a shilling to it and receive a guinea in ex-
eh:sage—to that very Rink note was obliged to he
added lour or five shillings before one man could
get a gonna in exchange for it. The Right lion.
Gentleinais may say that it was illegal to melt the
coin of the realm—no doubt it was ; but yet no-
thing was more absurd and sidiculnies than this
law, which prevented any min from melting down
the coin or bullion Pis lie pleased. This law was
lint only impolitic, but founded upon the grossest
and every writer store the days of Locke
had so described it, and maintained that the coin
ill hi he either exportable or meltable, at the
option of the holder. Ile called this law absurd.
because experience ',hewed it to he impracticable,
and that no Act would prevent the exportation or
the melting whenever it was the interest of the
bolder to do either. Ile thought it right to call
the attention of the House to this subject, for if
the market price of silver continued at the present
rate, the country would levee its silver coin joist MS
it lost its gold, lie saw then nothing for the coons
try but to take from the Chancellor of the Ex-
chtquer, after hit' paper pound, a paper shilling.
Mr. 11'. W. Put.E. was glad to find that he had
mistaken the first observation of the Ilmiourable
Gentleman, and that he meant to east no attuned-
verstosi upon the system of the coinage. Ile cons
ctirred to the Honourable Gentlenieses listrovish-
meta and regret, that the market price should he
675. which was certainly a shilling over the Mint
regulation prier. When the great question former-
ly came before the (louse, the principle adopted
was, to make one of the precious metals (gold) the
standard value, and the other (silver) a sort of con-
venient medium, es counters fur change, to serve
the general business of society. Every step was
taken at the time to protein the two metals from
clashing with each other. The Honourable Gen.
!lemon had concurred in all these measures, and had
even recommended it higher rate of iwigtiorage than
that adopted at the Allot. losteud of six per cent.
he had recommended ten.
Mr. GRESTELI. raid, lie had no recollection of
the pirticuler admission alluded to—but it had no-
thing to do with the point which he was at present
endeavouring to impress upon the House.
Mr. W. W. Pose resumed, and said that no
previous regulation or anticipated measure mold
prevent such an occurrence as that to which the I-In.
mumble Gentleman at present alluded. It was in
vain to fix any limit to regulate the market price—
if even the seignorage was 10 per cent. the market
price might becon,e at a particular period I I. Be-
sides, the silver coin was (oily a legal tender to the
amount of 40a. anti it could not be well worth any
person's while. fur the shilling iii the pound weight,
to go about collecting, and then take the trouble of
melting. He fully concurred in the opinion th it
the lows restricting the export of the coin of the
realm were had—they were indeed worse than
futile. The laws as they now stood operated only
as au incentive to crime. This subject lied been
under the consideration of his Majesty'r Govern-
ment ; hut when it was considered that the laws
complained of were its existence since the time of
Qiieen Elizabeth, there was a dffficulty in at
once repealing them. He had no doubt that the
present high price of silver was inertly temporary.
lie attributed it chiefly to the demand in the market
for dollars, which though two-pence per ounce
worse than the silver standard of the Mint, were yet
worth two-pence more per ounce in the market.
The dollars being thus removed from the market,
the price, of course, operated upon every other sort
of holism. If, however, this evil should be found
to subsist for any time, and to assume any thing
like a perm:went appearance, it might become ex-
'militia to reconsider the rate of seiguorage.
Hitherto the relative prices of gold lied silver
bon went cm in their regular order, without clashing
with each other its the market—they bore precisely
the expected relative proportion to each oilier. The
question of the coinage of the country was the
most difficult of any other on which to obtain any
thing like accurate information. Ile had spoken
to able speculative men, and to commercial men of
every dercriptiou, and no two of them ever agreed
itp tile same principle. Ile had no doubt that
the only course open would be to give the (little
'inflect a full and calm consideration before an
extrusive and well-appointed Committee.
Mr. WILSON (Member for the Citj) said, lie
was aware that there was a considerable demean] fur
some time for Spanish silver. Ile was of opi-
nion that the present system of Mint reculatfuns
was a gond one, so far as it went—subject, of
course, to such reservations as the Legislature might
see it prudent still to adopt. The lion. Member
made a variety of other observations, hot audible
in the gallery.
Lord A. 11Alltr.ToN said, that Some regulations
were necessary for the purpose of preservirg the
silver noun of the realm. lie would ask the Right
Hon. Gentleman (Mr. Pole), was it possible to se-
cure that currency spinet the Meas.* recierring ef-
fects of a paper circulation ? lie hugged that
Right upon. Gentleman to revert
tithe
prowl when
paper was so much depieciated, th.t twenty-live
drillings of it were only equivalent to M guinea.
If that state of things were to return. how would
it be possible, lie would ask. to keep the silver
coin in the country ? If the House weer to look
for istfiniples of confusion and incousistency, they
could not light upon stronger MR'S thin those fur.
lushed by the opinions, at different tunes, of the
Right I /on. Gentleman and his colleagues. on the
prisent momentous subject. An instance of the
perplexity and contradiction in the (tight Host.
Gentleman's ideas, appeared its the late mile ut
sovereigns. Did the Right !Inn. Geniltriniti, at
the time of the issue, expect them to rename' hi the
country? If he did not, he was certain!) guilty
of a gross violation ut. his duty, in exposing Kaki
coin to exportation ; and it' he did, how miserably
had he been deceived ! But all the facts awl rea-
sonings on the subject incontestably established the
conclusion, that there was one evil—a paper cur-
rency; situ one reined}'—a return loutish plasmas's.
Mr. TtunN EV said, that the Right lion. I len-
tlemati had totally mistaken the otneet of los Hun.
Friend (Mr. (irenfell). Ills I..riraill wish:ll
to chew that the market price of solver lied risen
above that established by the lliot regulation, and
• that in consequence thieve was a danger of all our
silver coin being carried out of the country. Its

reply to that, the Right Iron. Gentleman had
made a variety of statements and remarks no way
contradicting his Ilan. Friend's assertion, and
hearing no relation whatever to she subject.—/9
laugh.)—The Right lion. G •sitlemon expreitied„
as the only source of convailation fur the country,
lila hope, that the great drainage of the silver cur.
rency, which he nilinitted, would not continue. "I•he
Right lion. Gentleman boasted ot• having studied
the subject deeply ; of having given it every con.
.ideratimi of which his mind had been critable ;
but concluded with declaring that all reflection
and investigation, could find sin renirdy but the
appointment of a Committee of that flouse.—(A
laugh./—The Right Hon. Gentleman said, he had
read all the pamphlets that had ever been written
on the subject ; he would advise him to read another
lough/—which it appeared he had not seen, and
which had come into his own hands only that morn.
ing. He could assure the Night lion. Gentleman
it would reward his pains. It was a letter to the
Right Hon. Robert Peel, from one of hi• consti-
tuents, a Member of the University of Oxford. lie
was very happy to see the Right Hon. Gentleman in
his place; but lie would have been more happy had
he seen him in it more frequently last year—because
then, perhaps, he would have expressed that opi-
nion earlier which he always entertained, and which
he hail just b►fore given, when he .aid, that the
only remedy for the evils attending the state of mar
currency was a Committee of the House, where
eve►y Gentleman might come to the consideration
of the question with whatever intellect„ it' he recul.
leeted aright, that God had bestowed oil him,.
lint it appeared that the Right Ilan. Gentleman
had heen in a woful minority—for that Com iii i i tee
whiuli he deemed indispensable, all his colleagues
had frequently denied to be neeesaary.—(l.augh-
ler.'

Mr. W. W. Po LE observes', that, by the alteration
of • single word, the Right lion. Gentleman had
totally ni•tatetl all that had fallen from him. He
had said, that he was Ant of opinion that a Com-
mittee wog the only mode of getting nu• of the dif-
ficulties referred to; but the Right Hon. flentle-
man had made him say, that he hail always been of
that opiutmt. The Right llon. Gentleman had thus
•ncceeded in putting him in a ridtculons light—lA
laud laugh.)-11e had for many years admired that
talent of ridicule which the Right Hon. Gentleman
had so easy at command, and he bad frequently ad-
mired the use of it, when the Right Hon. Gentle-
man had nothing else to direct against his adversa-
ries, and was in want of solid arguments. He would
venture to say, that if ever the subject at present
in debate came snore regularly before the House.
lsu faculty would be more powerfully exerted by
the Right Him. Gentleman dials that of ridicule—
(A lasegh.)—But much us he admired that talent
of the light Hon. Gentlmam, he was sorry the
first shaft of it had been aimed against himself.—
(A laugh/—lie should, however. endeavour to
ward it oti as well as he could. The Right lion.
Gentleman hail accused him of misunderstandiog
his Honourable Friend, and of fl,ea king foreign to
the subject. He did not know what other reply he
could have given to a truism, namely, that silver
was selling at 51. 7d. an ounce. Whenever a ques-
tion should arise, concerning the department to
which he was attached, lie should make it a rule,
unmoved by the opinion of ally Hon. Gentleman,
to state whatever information occurred st the time,
and to offer the best advice to the House lee might
be capable of giving. Ile was obliged to the
Right lion. Gentleman for a bit of advice, and
he should follow it. He kid spoken of wl.at he
had read, not to make a useless !made of learn-
ing, but to spew that lie had taken what pains he
could, and he was not ashamed to confess it, to
procure light and instruction on what struck him
us a very difficult subject. Rut he had been tins-
(putted when made to say lie had read every p:nnph-
let on the subject. lie hoped the matter would
be fully and deliberately discussed and investigated
by a Committee of that House, chosen by ballot.
-(4 laugh)—ill which every Gentleman may pro-
pose the person whom he thinks heat qualified to
examine and decide on so extensive a question.
I lis object in stating what he had at first. was merely
to give the best information he could.
Mr. Ott:sirs:Lt. hoped that as the Home hail in-
dulged the (tight Hon. Gentleman with an long a
reply, they would grant him a hew words in expla-
nation. His object iu what he had said was, to
slew the danger of the country's losing :ill its silver
currency, and to ascribe that operation to the coon-
nuance 1.1 the Bank Restriction Act.
After a few words from the CitasicELt.oa of the
EIi:IIi:QUER, the motion was then agreed to.

CUTLERY TRADE.
Mr. S'lt ART WonTLEY mantra leave to bring,
in • Bill to regulate the Cutlery Trade iu Euglaiid.
—Leave given.
COALS.
Mr. CunwEN moretl r hat there be laid be-
fore the [louse an Accuuut of all Coals corned
coastwise ut Ettiglaied and Svotlsiol, aad expoited
to other countr►es within the two last years."—Ur-
dered.

COUNTRY BANKS.
Sir M. WHITE ltaur.hv a►krd the Right lion.
Gentle-nom uppionte (the Chancellor of the Exche-
quer) whether he had any intention of renewing this
the mra►nres he had in entiteitiplatiosi dur-
ing the last, relative t.s the irgulatiou of Country
Banks?
The CHANCRI.Loa or the EIGHEQUES ►eplied,
that lie considered the siihjeet of Country Banks
and their i►sue a very proper one for the considera-
tion am Committee of that [louse.
EXCHEQUER BILLS, GUINEAS, ice.

Mr. Gaut+ Ft.i.t. 111111/Yli •••••
" That there be laid before the House an Account of
all Exchequer hills outstanding and ',ripens/ideal for on the
bilk of January, April, Jul), and October, of the tau last
years."—Ordered.
2. " For as Account of all Guineas, Half-gnineas. and
fieven-shilling Pieces, issued by the hank from the Ist of
Jauuary, ISM, till the latest lime the Account cam he mate
up; specifying the aerostat tinder each head, and low aggre.
gate value."
Mr. MANNING made some oluervations. tend-
ing (as well as or could undeistatid him) to sl.ew
a two tun, difficulty in waking up the account, alter
which it was ordered.

ea' Prisoners in the Xing 's Bench, Maralsabsen4 atati Flee
Prisons."—Agreed to.
Mr. MANniNO mnved—
a Thni there he 1,01 before the *ono., an arenant of
the Namher of Prranns prosecuted by order of the Officers
of the Mint, for counterfeiting the gold coil, of the realist,
from the 10th of April, 10111, tv the 21111, of January, 1819."
—Ordcrid.

CLIMBING BOYS.
Mr. BENNETT moved—
" That an !imble Mare", he presented In hi• Royal
flighne.* the Prince Regent, preying his Royal Highness
to be greening's pleased to order to he laid before the House,
e Copy of the Report of the Commissioners of the Board of
Works, appointed to inquire how far the use of Climbing
Boy nu& he superseded by the applicstiot► of machinery
to the cleansing of Chimnies."—Agreed to.
The flume then adjnurned.

FOREIGN INTELLIGRNGE.