The British Press; or, Morning Literary Advertiser.
London, England, 1819-05-26 00:00:00

?lean In riltiloe that reryllre* • I rorsiffoior,lsoi in such
n manner as. While it arcomment:ted the Rusk, did not trip-
oli. she cireolaeion of the currency. As to the hurry or she
repayments li the Rank Us bunion, tartly months most
elapse before they ahnvtil have to pay, except under a pro.
'feting prier. As to the operation of the exchanges, the
Rank hail that in their own hands, as they could, to • ers.
fain ',tarot, retaliate the market price of gillel—eindeed It
was a phenomenon in this country to have any thing
like a permanent rate of 'swimmers against R. The Bank
may start sweat etive ile:ficulties, but the House wax
hosissil to net steadily, sod not be arrested in its pr gees
In the npplirations of the principles sanctinued by the Com.
niittee. tVliers the tamer arose let the House interfere, and
not twfore.---f floor.).—Bs taking the tat February of the uext
as the commenceniesit of the operation of the measure,
It was clear that No All'l'6llll calamity was likely to arrest its
prorress; but if it did arise, Parliament would then be as.
acrultted to act as circumstances should require in the
event of any sudden revulsion.—(ffenr was high lime,
however, that the system should mad be suffered telremale
bw, and that a permanent basis should he Axed fur the
return or rash payments.—(lleac, hear.)—The measure now
proposed had the sinzttl it advantage of nailing, except in
11, c•sce of three itielivielnals, the entire opinions of the
Members of the Committers of both Houses of Parliament,
comprising personages who widely differed upon general
The plan had. therefore,n powerful recommendations
to the consideration of the House. In ronclusion, he be-
lieved the ailoptiiiii of the original Resolutions woold im-
perceptibly reinstate the cuttutry in its ancient situation re-
siperlisitz inetallie currency, and would d'art all the arti-
ficial dillienities which were now speculatively interposed
to prevent the adoption of that aboteso lie and saltdary ar-
ranizeiteent.
•Ir. sct: leerzed to Piplain, in a few words. the nature
or the Re oho ions he hail proposed in 11. e shape ants Amend-
ment. Stir Right Hon. &officinal, Itle Chaccellot of the
INelier:ner) hail stated tkat he (Nlr• Ellice) was one of a De-
pilation who had waited.npon him last year, to orTe the
danger of an imnoeiliaw repayment of the silrances
to the Batik. He shoe-Il have added, that he was
one of thee.• who differed upon 'di:, imine, and who urged
she imiwlliry of flying from one extreme In another. It
was Smut against she principle of this hasty alteration that
he protested, and no the former occasion, a:I he required was,
that Slur Government should stale fairly when they meant to
repay the. Rank sod to avoid precipitancy. He then refloat-.
minket the Rai& to discount at four pet cent.; his whole
object was to reader the Bank independent of Government.
Itis opinions had ever been consistent upon this point, end
he hail always deprecated • speedy repayment by the Mo.
rernment in the !lank, after an over-issue. He also disliked
the admission kr, Act of Parliament of • depreciation in the
paper issue, whnia had orient from accidental circontratutera,
rind had nothing in it of a permanent character..-se(lfintr.)-
11e had no •lali to fetter the Bank in the ma.
nagement of their capital—all be wanted was, that
They plumb] redeeni their promise of paying in specie,
and then let tlieso apply their capital as they pleased.
The prevent system was a severe experiment of taxation,
and he trusted no either attempt would be made to indict
additional hardens upon the country until the stole of the
currency ails fully revised and adjusted. He had no objec-
tion to withdraw Isis ainenduieut fur the purpose 'l%km/hog
the crest psinciple of the resumption of cash payments,
which all had in view, adopted with more effect for tbe cons.
try by an unanimity of decision..—(f/ear, hear.)
•1 'oil C.,ssrhea [Anti explained.
lord, Mttrom proceeded to address the Committee, but
the rry sr " Qmorlion," was so loud, that his Lordship de.
skied.
Mr. fits:lSe was equally unable to obtain • bearing,
whew-. •
Mr. VV. PRIM amid, that in this stale of the Rouse he
sunlit 'nave an adjournment, for the purpose of getting
full hearing fur this important question.
Mr. CASSINO implored the Committee, if they valued
the oleo after of toe measure now in progress, to give a fair
heroism to all 31embers nit this °cession. One great advan-
tage of unanimity would lee lust if any succeufut attempt
a ere masl4 to clamour down the opinions of those who may
he *opposed to differ from tbens.—(floor, hear )
Mr. littler, after making some alinsions to his interview
accompanied by his Hon. Friend (Mr. Ellice), with the First
Lord of the Treasury, observed, that respecting the general
question, he could not give his consent to the fourth and
fifth Resolutions.
Mr. D'Etausu expressed his concurrence in the original
Resoluf , fur the sake of tonanimity, though he wished the
Bank had been left unfettered, from a conviction that that
Corporation would have done their duty. Had the amend-
ment hero persevered it, it should have had his support.
%lath respect to the exchanges, they should, in his opinion,
be left to the fair regnlstions of trade, and nut by any our.
lictilar plait of the purchase of bullion. He was the more '
reedy to accede to the Resolutions, as the Noble Lord had
expressed his willsogneas to inert any future evil, if it arose,
by parliamentary interpusitionr-(//ear)
Mr. Peer. congratulated the Committee on the probeltle
unanimity which ass likely to attend this question. He
trusted that Ibis would dispel that unfounded panic which
now prevailed out of doom. He Hien proposed • verbal
somendinent in the 7th Resolution, for the purpose of malt-
log it ronsident with the 4th Restitution". The vetted
amendment was adopted.
On flee question being put upon the original Resolutions,
Mr. Caters was nuelerstood to hare called fur • division.
The House was 'loess ordered to be cleared for a division,
but before strangers quitted the gallery—
Mr. CANNIVIG rose, and in eloquent speech enforced' the
necessity of unaisiovoily nu this occasion, to wasquilltse the
pnblic mind, and chew the public that Parliament were de.
'ermined to revert to the sucieut standard of metallic cur-
nosey with the least possib!e delay.--(trio of " Agreed.")
Mr. Como, who had previously intimated his intention
to take the sense of the Committee on the Resolutions, sow
commuted to withdraw kis opposition.
Mr. NIAIIMING looped, that his concurrence this night
would nut he considered as binding upon him to any future
Course in the further consideration of the Ball.
Mr. CAN:kirk; said, that osaiknolotedly the details were open
to fatale cousideratioa. But he begged the decision of this
night to he taken as the toll determiaatiou of the House on
the priiiripk of reverting to the aucieet standard of a
orretallse currency, and as nothing less than that imporlaut
and met-rosary admissioit —( War.)
Ro•raitutisous were then agreed to, sod the Report
oss'ered lit lee received immortals.
Mr. RICHARIS MARTIN pearefird his motion until
Thursday respecting the euoduct of Baron M'Clelland.
Mr. STUART WORTLiV postponed his motion respecting
the !theep.W endow Duties nisei, Thursday week.
The other (haters sir the Day were then disposed of, and
the (louse adjourned sums After On s OTLOCIL.