The British Press; or, Morning Literary Advertiser.
London, England, 1819-06-16 00:00:00

SILVER COIN.

The Earl of I.Aune.ani Le muse, in pursuance of
hiv antler, to move that doe torri d:tutu i,f the
Judges In require in their Loud:hues' liouise„ to
ini.wer two epicsuions relating to' cirtsin Acts of
l'aeliatovNt sad Prorlaututiolis for regulating uni
ascertaining the value of the silver toils of the
realin: Previous, however, to entering into a con-
isideraiiat of the motives that induced him to sub.
ntit this proposition to the House, he thu.n4itt it
necessa-v that the Clerk at the table should read
certain Acts relating In the coins of the realm,
which the Noble Ent specified.
The Acts being, entered as read—
The Noble Earl proceeded. This course he
thought it right to pursue in consequence or what
hail passed in their House and elsewhere on this
suluject, and to ascertain by reference to the hest
authority. that of the Judges of the hind, what
was the real import and effect or the laws that
were enacted respecting silver coin as a legal len-
der. An immitssion bud heel' generally entertain-
ed that the silver coinage or the country 'suing de-
preciated _!.5 per cent. between die Act of 1774 and
that of 1797, was, notwithstanding, a legal tender
by tale, and an :argument %tail foamiest on this its
favour of the present Most regulations, because
that although r differei,ce of 91 per crab. had token
place between the 'ethyl of the gold and silver coin,
the silver did not expel the gold from circulation.
He however wus distinetly of opinion, that the
sin-
err C So depreciated %%:14 out • legal tender by
tale to any e stela above '25/., and if their Lordships
would accede to the motion with %%W', it was his its-
trutiou to conclude, thee would have NO opperriuni,y
of exam 99999 1;4 how the law really stood in this respect,
and if it appeased that the Legislature did lint
make solver a legal tender by tale above 25f. there
was au end of the argument. It mattered nothing
in his view of the subject. whether 'Elver circulated
la its depreciated mute at its nominal value, unless
this value was ascertained by law—fur there was
11w %lama diailsuetmaaaa between a legal circulation
and one by soft ranee. This might lie rxenaphlied
by a circuilist.,nce with which their Lordships were
probably familiar. At a gaming table counters
cure cog:Phonily circulated at •nottlival value of
tool. rod they were readily received at this value.
f outs the assurance that the holder of them could
imuuelliately obtain loot for them butt suppose a
law were enacted, decheing these counters to he of
the actual valise of lON. would their Lordships
expect ta see gold and silver ever sifter at the same
table with them ? The Clouse wear aware, that in
the reign of his present Majesty. not less than
63,000,000 h of gold 'coin were issued; yet the
Noble Lord opposite (Lord Liverpool) stated, Mine
days since, that 110 i suture *ban thirty millions were.
at any one time. in circulation. How then were
the remaining 33 millions driven front the contitry ?
Was it influenced la to respect by the operation of
the miser curtericy ? lie remembered. in 1800.
proclamation was ',snail, in which complaints were
inutile of the eft-cis of the silver currency on the
gold coin of the realm. It was dierrfore inaterial
for the flimsy to obtain the opinion of the Judges
as to the legality of silver coin as a tender by tale.
and to obtain the information. lie meant to propose
the following queens,' ;
" Was the silver coils of the canitSry, diminished
1:11 per cent., a legal tender by tele tuus soy thing
under

angler 251. between the years 1774 slid 1797
This was iris first qillition. awl .he t4o'ught it .
right to stateirhy, in hie opinion. Silver koin was pot
a legal tender, according to theterns or the question.
The first law' that lune materially on this point
mai the Act of the gth and Indio(' Witham. This
law was rnected lususetliskly after the old silver
coinage ryas called in. awl a new coin issuer,, and in
teat tt was expressly declared. that litres coin sliuuhl
not be a leo ,trade► i►y tale. If it WM .e.ustattied a
greater loss th+n•what 'might be 'ex pected,froin
minable wear• and that rt tendered to a greater
amount Thud 111 Sf. it slioahl he taikn by weight at
ss. 2(1. per ounce. The neat statute .rrlating to