The British Press; or, Morning Literary Advertiser.
London, England, 1815-03-03 00:00:00

-ent period, the circulation had reached 31 ruiletaus.
The average, however, was about es millions and
a half: but notwithstanding this, it was gratifying
to phscrse the improvensent which had taken place
in the exclum4es with foreign countries ; for in
1811. the exchange at Haniburgh was but 2-1, while
from the recta accounts it appeared it had risen to
32.--(litar.)-11r would now state the grounds
Upson which lw conceived it inure than probable
that cash Iw}•ment• would be resumed in July 1816.
If the peace with Aonerieti had, been ratified at the
swine time with that ut Puris—if the foreign ex-
p:•nsw had then been concluded—if the urreers
which were due to foreign States had been paid—if
the keeping ty a large standing army on the COll-
- had out been necessary—and if we had out
had to trinispori a htrge army across the Atlantic—
the short period which had elapsed ►ince the e0:1••
elusion of the peace, he was satisfied, would have so
complettly restored theatilsirs of the country to their
original situatiim, that the Batik would, without
delay, have able to Kaoline their cash pay-
Illeldb•—(Heur4

Any Gentleman who compared the progressive
improvement ut the rate of exchange since 1814,
would at once lie aide to discover the truth of this
pmpoeition. In Januory, 1814, the exchange with
Ilaniburgh was at 88 ; before Os:toher it was at 31
In January, 1814, the Brice of gold in doriblooes,
was 5/. los. per ox. ; before the end of the year it
hail Cairo to 4/. 10s. per oz. Tlw price of silver in
the anus period bad fallen from tis. l Id. per ox.
to 5.. IA With these favourable prospects, he
thought he should not be presuming too teeth in
nati,•ipatiug such it favour:llde change by July,
1141(1, as would inhere a return to the old currency
of the country. Ile held as irecouut in his hand
which would show time enormous expenditure of
specie, oliicii within the last few years bad been
wade on the Continent by this country. In 1811,
the forehen payments were 15,182,00 UL in 1812,
18.533,000/. ; in 1613, '2.!,931,000/. mot iu 1814,
3ti,,n44,000/. In the face of such expenditures ire
thought it was not extruordinary that restrictions
ehouhl be placed on the cash payments of the Bank,
but now that they might be considered asin a great
utensure stopped, if no new cause occurred to resi-
der their comitemauce necessary, it was but natural
to suppose these sums would revert to their Old
; amid if this should be the ease, the, ! was
tio &mold that, by time period he hail fixed, the Bunk
would resume its payments in specie.
F ItANKLAND LKWIS contended, that time con.
elusions to which the Bullion Committee had come
hurl been fully verified by every circumstance which
had since occurred. When the resolutions of that
Com 11l ittee were submitted to the House, it was
vonteuded that the depreciation, which was asserted
to exist, arose only from temporary causes, and
would he removed with the return of peare. At
this moment the country was in mi state of pease,
there was no foreign expenditure, and yet the same
evils still existed. It was well known too, that
upon a comp arisou of the iniports and exports for
the lest twelve months, the exports were greater
than were ever before known in this country. Tile
t7•,-c,... evoorts naturally produced 3 favournble
effect on the exellausee. as far as this country was
concerned, but still we were without gold or silver.
lib remembered in 1795, when the Duke of York
was with the army on the Continent, that the ex-
penditures were infinitely greeter their or late years,
and yet no such depreciation of exchanges existed
ns hail been observable of late years. Another so.
letion hail been given for the large export of gold
and silver, by reference to the iunueuseirrtporta-
tiuus of corn at that period. Why corn should be
selected guy more than other coniniudities, as II
source of dhrburseinents in specie, lie knew not ; but
be certainly knew that similar large importutimis
had taken place at former periods, without being
productive of the same effect. In Fraud, gold
surd silver had never been scarce, nor had its price
sever risen in the market; and if the old hypothesis
was true, it should never have risen in this country.
There should, in fact, be nu ditieremim in thee; irrice
of gold and silver in EllrOpV. He felt nu inctimia-
tiou to inquire into the f Is of tire Bank, or when
they would he able to res cash payments, be-
cause he thought the !loner, fur their own rakes,
aright to look with confideuce upon their vane
power to do so. Ile did, however, consider that ilm-
quiry was necessary, in ureter that the ground of the
evils which existed might be useerteined, amid that
some measures might be adopted towards placing-
the country in a situation to revert to its old state
of currency —a circuinstauce winch, lie was sitiviied,
would never happen as lOW.' as the issues of Bank
Dotes amounted to fromn 2G to 31 millions. Torre
Was wine radical error winch wanted correctien ;
and until that correction had taker plaice, the gui-
nea would not plow fur tweutyoure shillings. fie
should vote in favour of the 1111 l Mita of the Noble
Lord.

Mr. Rose diffcred entirely with the Thor. Gel:-
&slum who had just sat down, as to the neetssity
of a Committee on this subject. In no instance,
since he had been in Parliament, did be hear a
s.:onunittee moved for upon so slight a ground as
iu the present instance. lie agreed that tke tiara:
was no party to the restrictions, and he knew that
they had no Unin:knurl of the intention to inllusse
them. mail the very morning on which they took
place. Aker the restrictions had beet, ittiptswil,
ma examination took place into the funds- of the
Bank, and they were found to exceed, try sixteen
rnilhous sterling, all &noon's uirms o.—After
this their solidity could not be doubted. The
market pi;ve of bullion at the present period was
41. 9a. and the Rank price ikas 3/. 17s. MI. The
louse would see, therefore, that ut present no illiVitth
tage would result from the issue of gold, as it would
be ho sl,oller in circulation than it would be melted
trial sold it, ingots. Ile was free to confers that
the average of die present issue of notes was *27 mil-
lions; and that the average before the re:Ai-it:lion.
pima* was 15 millions. The increase,
had only been 12 millions, while at the
were first stopped, the gold of the
calculated at 44 millions. It
the hest isiansgemetit, therefore, that
not gone fair beyond twelve millions.
said shut in France gold had been pleu-
til not increased in price: it should be
however, that that country had been
'loader, and that whenever a.coutribu-
landed from the town of an enemy, it
stipulation, that, if gold airs
the suua should be taken.. The laight.

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