The British Press; or, Morning Literary Advertiser.
London, England, 1822-05-14 00:00:00

true, merth expressed an Opinion that a Merge
remission of taxation was necessary ; but the
speech with whirl l the Mono-it Able Memhe, pre.•
f.ced it, weot to u reduction of to,ooomol.
Now lie did not think it would be (titlark lo Mow,'
that if any person bed a desire, instead of relieving,
to ruin the agriculture of the country outright, he
could not propose a metulicebtal means for so.
complishing that object, taws to the amount
mentioned were reduced, it firld be impossibfe
to amy the dividends, end at the same tirue to
pay the establishments that had been voted for the
public service.—(llesr, hear.)—The army and
navy. the former at least, hewing arms in their
hands, could help themselves • end he apprehend-
ed they would not he preventcl from getting their
pay, whatever might he the ewe with other breaches
of the public service. Rut he wished the House
to see liar a moment what would be the effect on
society 'of a remission of taxation to the amount
of 20,000,000 f. supposing it to be intended to
pay the fundholder but the half of his dividend.—
There eould be no doubt that if such a motion
were adopted, great starlit would be excited oolong
the fundhotders, particularly among foreigners, who.
it was well tuition, were very large holders of Bri-
tish stock. The proposal to curtail them of half
their income, would induce them to sell out et al-
most any price that they eould get, in order to with..
drew their property from sta insecure an investment,
in order to place it in the foreign fends. The same
would elm be the case with t‘ large proportion of the
English hoiden of sleek. There wee already a strong
disposition to sell English stock for the purpose of
making turndown!, in foreign feuds; end if any
idea of 'such a reduction as he had alluded to were
for a moment entertained, there could he sio doubt

that that disposition must be greatly increased.
The measequence would he that the exchanges
would be almost immediately from 40 to 30 per
cent. against this country, as was the cote with the
exchanges on Paris in Mt and 1793.—(Hear.)—
That would cause a demand of bullion so great
that in • month at farthest the Bank of England
would cam to pay in bullion.—(Hear.)—The pro-
perty of the Bank of England was a great part of
it at this moment in the hands of Government; it
formed a part of the public debt. He spoke iu
the hearing of the Chancellor of the Exchequer,
who could correct if he was wrong in his statement.
There was at least between 20 and 30,000,000/.
of that property locked sip in the public debt in
Exchequer bine, and the deficiency of the Como-
Striated Fond. Had the Bank of England a pre-
ferable claim to be paid in full over say other pub.
lie creditor ? Certainly not. The Bank then would
become insolvent ; it would not be able to pay tep
shillings in the pound—and would their notes pass
then, or ought they? Who would take them un-
der such circumstances on any account ?—(Hear.
hear.)—The same would be the case with the He
vale banks, and with the- large commercial houses.
If he stated any thing that was not fair and right,
he hoped some gentleutan would take the trouble
to refute him ; for he should derive great consols-
lion from the proof of hiri fears being ill-founded.
The consequence of the numerous failures which
lie had described would be a scarcity of trimiey ;
that would produce to prices—much lower than
at present.—(Hear.)—The lend would then become
productive only for the support of the paupers who
would press upon it.—(Hear, hear.)—These would
be the consequences of carrying such a motion
be that of the Honourable Member for York
(Mr. Wyri(l) to reduce 20,000,0001. or taxes,
and yet there hail been thirty-seven votes in favour
of that motion.—(Hear, heal—Amor% them were
two, those of the Hon. and Learned Member for
Winclielses (Mr. Brougham), and of the Right
Hon. Member for K borough (Mr. Tierue3),
who, he regretted. leg' . 'sow present. He par.
titularly regretted . * they gave.—(Hear,
hear.)—He hoe, Meth t be incapable of giving
borough
a vote contrary to what they thought the interest of
the country, and that they wire incapable of invad-
ing public credit.—(Hetr, beer.)—He knew they
had, in giving their votes fur a reduction of taxa-
tion, expressly disclaimed any tuition of pushing it
to so greet an extent ; but he could not but regret
their votes, because he thought the votes them-
selves would be remembered when the explanations
they hart joined with them were forgotten— (Hear.)
He was aware of the risk to which he exposed 111113.-
self in commou with oilier Members of that House,
of having his meaning perverted, slid his motives
misinterpreted.—((pear.)—He had no doubt that
he shonld be misrepresented. lie expected to be
told, that he was no member of the monied note.
rest, that he was regardless of the sufferings of
others, and cured not on whom the weight mud 1,
pressure of taxation fell, as long as the interest of
the class to which he belonged was kept up.—
(Herr, hear.)—He could riot, however, concur in
the justice of such a charge against the monied
interest ; he was not aware that they were chargeable
with more cruelty or selfishness dim others; and
he was much wronged if it was supposed that he was
not desirous that taxation should he reduced. He
had supported the repeal of the malt tux, slid them°.
lion to repeal the salt tax, because he thought that
they might be adeantageosily removed. He was a
friend to every reduction of tuxes short of that re-
mission which would lead to infamy and ruin.—
(Hear, brag—He did not mean to say that the
country, after such a vote, might not at a distant
period, us France had done, right itself, and ulti-
mately feel relieved. But his objection to the nio-
hen of the Hon. Member fur York was, that it
would lead to immediate ruin.—(Hear.)—There
were other ennsideretions which attached themselves
to this question. Was Otte 110 such thing as nr.
(tonal honour? Was there no such thing as national
morals, as the mend strength of a 'ration ? After
the splendid example which this country had given,
after the brilliant exertions we had made, end the
high character which the nation had justly attained
for its scrupulous maintenance of its honour, and
fidelity to its erigagements, was it nothing to seed-
lice its honour and credit, by violating its faith
with the public creditor? He, for one, cuittem-
pluted notional diatom,* with more than horror;
awl he hoped to close his eyes in death rather than
see that dry whet' any proposal to violate public
fuith should be seriously entertaiued, in order
that he toight avoid the coutempletiosi of the
miseries which be feared must ensue from such
• measure. It was • mistake to suppose that
is **ld seuvit the 'Octillion' interest. It would
Ilia that, as it would all the interests of the

1 '

the
I:::es:iiiitiii:Hue.4.l;adeisibliel"d;liwhasa:lngdi.eaPrite.-D'
111:111:
fel ay.Wiww°lle ire:
haelti el
le yr
se, waserni
te ;4theitehvlseeato:::-:146;e"116:1;•
eastiltei; •ii erOVliilbsolee all in one Melee ihr dee •
ceigMeheaest.
eisistin.cickntstiyu.
iellmeoliatt;ohidyeentbbetsbeisveewereior,itactoenetertyy,
Laliebtrilidimtlltee ivtareillateiluionnro.f and,
eisikirreace67.. Inehei 4%;
willsoit. testerielly affecting its 'Proper infertile.
Slasher Mk. ester.), however, had referred hi ,e.'-'
Hew elikftiflude to the Colonies, for nisi snit, the
Cape of tlfia. II etre for One, eta several 'others, csabwinekeiti.lky,babydwylichiaekkehhhelheated(aft.ent.::Ref.)itiweeswaassna:oistdbroboyfboreteed
of which he need not enter into particulars, and
suaseveselter-tertiett • aim might be done away.
If in answer he should be fold that the influence of :144.41", irt lienlialeea„Allaa si4lilsie ehehie alal•ther'i
the Crown would be weakened by such reductions, pwe,:."hy„erhe, wasre."l- can 7. tgeoalirialtil,r,l,l dale
seat, 1..
he would say that in the present situation of the Gray sad Mr. Bully aid ea *gift. Mr. Selly-asciliriby" Mr'
country, neither the Crown nor the Gseemment was the pekes higher. Mr. Gray gave Men at the Bi:este:ls'
in went of any such influence.-(Hear, hear.)- chime, which ,as against this mooing is mitteesetice of
And if the gentlemen opposite knew their own inte-
ftelt,siliMiteisearm:heriTe:adralsebefatn:urzedlf I:efit
welb7sib:acheße.)l2,6,,,f,
the
d"as 8,6*
reit, there were mean. by which they. might create therefore,phriacrthf"e to on.; e°l7aetiesl. h7:::::::6%`'
for themselves such an ingueuoe es would make
them invelnermble, and secure them the confidence
aboallasvero.,Ase•grittel:n:tooi'a:bitheefeyllaii.dakerebl44l‘.coezfilimoily
Itloeurs
and esteem of the people of England, which they
by the Noble Lord sad others, that she way so merle. the
sit present appeared in no degree to pOsseite.-.• (Hear,
hear.) effect of foreign mice. is the market of this coast,
Mr. D. Beoweg said. that he regretted that no- calculate upon tat aberage of the list la fir SO year:: l'hi",,..
thing more had heels obtained than the Resolutions lyhoptuitehwaltemeo(Mirs.eAch.) angsreetatrietasaathaers;
butee shouldth laitbegotte,.
years must be struck out of the account, oaks. they eye.,
of the Noble Lord, because he thought they were
not beiteficel to the agricultural interest of the to be misled io their legislation. Too Baltic prier fon
century, which was what he had most tit heart, that period had bees regulated by the price is Mak-last ;
Sir W. W. WYNN said. he would summit the and if the price were Ms. in Mark-lase„ the merchant is ilie
Resolutions of the Noble Lord, although they did Baltic would not sell lower than the Hared/Ise price, as.
not go so far as he could wish, donne the cost of transitive. To suppose, therefore, the
any calculation could be founded oe the Bettie prices. a.
Lord A LTHORIe rose to offer • few words upon wire "sew.a than le take the prices • the • -
what had fullest from the Honourable Member for York for the same period, sea apply. ILO tit: Use same ph"
tilidhund (Nlr. J. Smith), respecting the votes its pose. With respect t. the calcalatioe ref the prices is is;
support of a motion of the Honourable Member fur depreciated eureeDeY of this coaote•fr the otketwaiew a tie
York on a former evening. When a men gave a THhoetrosiHrableimMuse4meir4; rectum Eamexp was perfect*, omen.
vote in that House, he voted for the question as it she paper which he delivered in, in,widlidialltre btialh wig'
"I
was proposed, mod tint for the motives or reasons of which he had received the corrections of with so litirlie "Dm'
the mover. But his Honourable Friends, to plecessey from she Honourable Member for Egan. le tan
whom the Hon. Member had more particularly paper the prim of Ills. ed. shoold he read Its ; Plis ,book'
alluded, in explaining the grounds of their vole on he resSAILLIit weeeeS that heerz.,",: .I...sib 0* %bole
the occasion in question, expressly disclaimed the tacrti,,,7 ,„„. „lied .. e, legislate fu:',l2 I"
!4"141 laa i
notion of going to the extent of the speech of the We might by taxation and regulation preel4lent earn
Hon. Member for York. Aud on that ground he
(Lord A.) thought it extremely hard that they soil,,being hiCur°twwuheenzceypooteyuoniutcnornsohufaecdiehtuonalowntydhpeosi:nipeerhrti:ertheitet::tniliveina:
should be charged in their absence with any Mien-
lion of assailing public credit. The vote which market-over
ge could not agree in the satisfaction expressed by
they gave was merely fur the motion, that so immediate ma
extensive redectioa sof taxatioss was the moot effectual means
agrieulteral distrait.. the Right lion. Secretary at the fulness of the Ex•
of relieving the it.. He (Lord A.) shoolil
kismet/ have voted for the motion if it had been made at nay chequer, or the bettered condition of the lehouter,
other time. He opposed it solely because it was as interne. He thought that if we *Mitred to the stenderti es
Aiwa of the astiuereed debate. He Molested that neither his fixed by the Bill of 1819, we wese but in the cure_
mencement cf a great change, both commercial and
Hoe. aed Learned Friend (Mr.lbourbans) nor his Right Has.
political, ail armlet the effects of that change ac
aFtrienill
adod(Miwrit. Tabieemecuy)rgwesswrohiwchpbadresettbeet,
lb. lint
alizczasslel
417.saiit
without offering some observatiee. The Hoe. Member said had Ise means of protection, or of seeing how far we
their rote would In remembered when their speedos weft oheeld come out of it; but the agricsliaralisis
furrows • but she @Me observation surely woad/ hold Iwere safe so far es the present Corn Btll could wri-
the opera; of the Hoe. Member who made the wile& Sect them, and there he would entreat the Have
Mr. J.SMITH explained. Ho had expressly mmeielad to leave them till the great change was concluded.
the Moo. Members to whom head landed of sepeessise
the ekes of the Hoe. member fur York. but said h, was For in the midst of this state of things the 14011111
awry for the vote they had gives, M the tridental's' might should be cautious not to excite the fury of a st"rm,
not always accompany the reculkctiou of the vote. . which it would sot be easier to excite then difficult
Mr. CH A LON ER said, the Homerahle Member be Mid. to oppose. It was said that the currency eat me
bunt had himself 'petard the ehteratisse he had mile ie an established measure, the operation of which was
the course of his speech, of the facility with whit* a Mama
her ey that Hew, might be misrepresented a, to shad he finished; but he contended that the toentry woe
had amid. tie (Mr. C.) at by his Howounble Cidlsoesse now in the midst of the operations of that iniquiloi.s
(Mr. Wyvill) when he made the motion is question, **d em measure which was working io every shape of die,
membered-pee/eras well his baying said that he did not WWI gutted robbery from one end of the kingdom to
to propose that can all the amount of tio redskin* to ha . , .i.
ture toff -(Hear, hear, hear.)-Se far Item this
made I. wows% but dint ie his °pane Utile short of that
(I bee.
amouatcoalit rive imweil.ste lobelia the aren't ankh the iCI tinge uff cexbffieled. there use one part ca-
nnon,. Bat be did Dot wish the vole to be coupled with surely untoacbed, which it Ministers did continue
theism.. He (Mr. C.) had thought it proper to say thus ' lb dowered. it would exhibit an utter contempt of
much to iilefewire of hie Hun. Colleague in his abeaser. every print iple of justice-he meant the reduclieu
Mr. PHILLIPS said he had ruled fur she ""4.4 is 'PK' of all pensions-(Hear. hear, hear)-and waterier.
tioe,,bet had irripreraly stated in dotage°, that he cinoW oat _,_ ,
kelp reteeting soma any reduelioe of taxes which woad 1 Were suers.. be smear to continue to profit Sty it
?
affect the 'while emitter. With respect to the observatioa I who were patties to the Act of 1797 Win
Odle Hoe. Member fee Essex(Mr. Writes) cif the &mg. not so increase in the value of currency ea
prices quoted to .lee Committee aloft year being takelalea ; insicose of all Lases, pensions, sod mime, is
la the eurreuey of this coltoclithe Mon. Member would m• i the amount of the increase? This increase is the
collect that last year we had a metallic currency the same
as at pcapat..-(Hear.)-Hs thought the biol. re,00,11., I value of the currency was to the amouat of betwees
duties ~,,,,pre",e4, is the tepees/sloe of freesias highest 30 and 50 per cent. and if the Ministers did hot
peioes thaw it was probable mold be °Wised, or thew wee make a veductiori in salaries and pensions to that
cousialatit with the interests of the people of ibis aosmry, amount, they would leave en the character of the
and men of the agriculturists themselves. The whole collate, a vile stain. With regard to the present
tesksieletareimked oar mew laws was founded on the desire of high
Meaderes m it was calculated in so dupe to satisfy
the country, he earnestly implored of the House out
rents sad high mires, and was iherefure defective sad mu..
~The agriculturists complaised of one another,
that they bad sot paid sofecient attention to their owe to permit the Report to be brought up.
ittlemtol hat they (ergot that the present Cara Bill. of The Marquis of Loenoetieatte said, he hoped
which they sow complain es mach, wee their owe measure. the Hon. Member who had just sat down would
He thought it was one of the greatest artesian to sup-
ple* that the reeseepilee of red, priest, we, the put attribute it to want of respect if he forbore to
ems* of the loosest disines. Na mete flat em the 'follow him through a greet pert of his argument.
prices is Prance, and all over Europe, had bees felt either which did not naturally affect the present questiou.
„....lant the enigma).
_...../ drove eats set of Pease,, or also He had called upon the Ministers to seopend all
7 irlikienaeoPisiiir,,-„,----„ryarragets'isaare:rassiiroswitilexPerlitaie.weeda, measures until lie hadecoindveserltedidatillidearlidouosef :soluheis.
sii iiiiiviiiiiiii of gam* .„, impsee,„„ isrosgb„, Europe opinion respecting her
than that of Eaglsod. He had so doubt that price, might which, though lie had listened to the Hon. Meru.
be forced up much higher, if importance from Ireland was bet's speech with the utmost anxiety, he had oat
excluded. HO men those kip prices be retained f By uo been able to learn what that staadard way ; whether
visease . 111411611 at present took Inge quantities of amati. colt). paper, or the simple unit. He (Lord Lou-
fecturessed catmint produce to retara. If the imporiadoe - to enter his protest against She
deader')
of grails were stopped, the demand for those would cease.-
The wages of she maeufarturers here must be raised with the
price of peovimierie, end the rest of the manaketures would tianligeiiintielerisrpedneecdlamwaittlisonhiesfdtryhe
alifrginu.mGenetnitiermon
poutbz
be such as to render them unable to compete with heeled cal economy. When the Hon. Gentleman talked of
maiiefaciores. The workmen would theu he thrown out of
employ-ths want of trade would cause • aiminutios of the of those attempts to create persieus
ut one
demand for produce, and what would theu become of the agri.
!billet WS ? Gentlenieu deeeiveil theeteeives if they supclton ; for the Hone.
rosions coming down, it was iti truth nothing
posed instead of establishing coley
that manufactures and commerce were st present in high pro. was aware that the general scale of offices to d
*peony. They are only sow just recovering from that pressure pensions, so far from being increased sioce
seeder which agriculture is labouriag. They had fur a loaf
time been forted to see their prolia fallen of, their capita
y reduced.lrish es.
visitor; and it was oily by low wages, supported by else
neatly in the
law vetoes of provisions, that they were sow enabled to go reduced one half, and the Scotch
.from i.,_
tbhie elterotiou of the curpretn;cyo,owLeirset cbownsidbeei,:ea
ea. It pas moil that indirect taxation pressed harder on land mine propotien ; and the offices. on ter ti "--
Mae mataaufactum, sad reliance tektite duties io protect it. creased, were also considerably reduced-- "g We-
' Bat he believed if the details were loaned into, theleestritil tested his utter ' bl' ide
would be found to he the tart. He hal heard so proposition ionolln _
Ina 'my to form seq.'
abstract standard of value to which the a.
on this subject to which he could give his cordial assist, hot .ided ff the
Member would refer them
that of the Honourable Member for Portarlingtoe. He .
thought the whole of the proses. system bad, aid that the be business of the country was not to *tiled
ea longer it ht ori, the more the rouser, would suffer from still till the House understood the Hon. Member.
its effects, he nects, and t more would they appreciate the mood. He ii,,-,turd the and he hoped the pub.
g gloomy notiotus which the Hou.
ness of the principles on which the doctrines of the 11000111.
Member for Essex seemed to esiteitairi, because hit
able Member for Purtsrlintloar (Mr. Ricardo) were founded.
Mr. SYKES having ruled in favour of the motion of the
Horrourshie Member for York, that an immediate and large app
He
ercoe lisoicekievedd utpheto
pbryesethnet
reduction of taxation was the best eseaos of relieving the give no adequate protection. Now looking at it so a
sgriceliure of the canary, viedicated himself from doe
charge of sinning at a rrthictiors of the dividends. He be. areocruultteurwalouinl;
could lie grown abroad, the Committee had ie-
'freed them was no was is that HOUSC who harboured any protection as it respected the price et which corn
torus from our Course's in all the ports of Europe.
i.ka of that sort. With respect so the came of the distress,
be could nut think it arose from a superabeadsece of pro. and they proved, that spread as it was over all Eis.
dace, bat (rpm the state of the currency in which the pre• rope, in some parts without opportunity of 'coding
dace was brought to market.-(Hear.)-He thought with the it so distant markets, the greatest variety of prices
Hon. Means r for Gilmour' (Mr. Atwood), that the alters.
esis ,t edthoughthe Hon. Members " I Essex and
ties of the currency was the man tame of all the confosioe. '
His ewe knowledge sod reformat* led him to agree with
the Hors. Member who spoke lase, Hat she maaefacturisr the market at • state of depression was the price
and commercial interests were not mum douriebiag Ilse the against which protection was to be had. But
agricelocal interest. the Committee had looked to the general foe'
Ur. RICARDO said. the principles ow whirls his opleiees age price, te which the duty being added, and the
am the subjoin before the House were (waded had aleuady 1
heal an hilly explained, that he should mit then occupy the fair mercantile profit, making together 270. err
time el the Howe* epos that subject. He was, however as. quarter. the Committee were unshed, 1101 that it
toteltY *aldose to vindicate himself from the asinseamn:ime would prevent foreign cure coming it), but that it
of the Hue. Member for Ewa. Me had asisievelona the would
~.. pretreat it coming het foe a market. This
MM. Member to say that the prices efosee i• Hsahargb final measure. for rte.
iii nwimiusi. adr paper currency, pod be emeatoty did Minty is die present state of the corn market of
WI bee. takes is the calealatireas of the Committee, to all -1/1 "I to b° asbaidered as a 8
INA that, la sash% se, the Homeatable Member was le Europe, the duties now etc.-emery would be toebleb