The British Press; or, Morning Literary Advertiser.
London, England, 1819-02-03 00:00:00

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unable to restme cash payments, mid therefore re•
.quired the aid of the Legit,lattire—they send no
such thing—what they said was thus—that they were
ready, so far as cotiternei: their own affairs, or the
',liven* interests of the flank, to pay in specie; but
they could not promise to give the timid ussirtinire
for public affairs in the event of the Act 'being stir-
' feted to expire ou the sth July. They did cer-
tainly express Sill opinion, that there w.is a very pro'.
brbrlity of the foreign exchanges settling iii r steady
course, in the course of the col relit p-ar, by
which they wiieild be eisabled taut Holy to make
their iboiuet4 in bpi vie, lint slut to I the I. er%-
sitry quantity of to keep up di,
circulation of the comiti-i-. The Hon. 6 !..tie'il
who spoke last had lAA is great stress tau tv!,:it int
described to be the pledylrs givro by .dr.rini per.
sins its that [louse, for the resumption of cash pay.
tarots at is given period. These were but the iipi-
Mons of individuals, formed liotti the hest view
they could take at the time of the qtie,tiou ; but
surely there upinimis could not lie vtippiised Wu&
hog ad agaillbt the puhhe interests to a ..thyrtitirot
view. tits Right [lon. Friend °lily looked at the
subject with a due reg.itil to the public interests,
the public safety, suit the nitmoial credit—it was
important that the Legislature should bike a 111 d•
lure view of the subject, and not legislate loosely
upon a question of such eminent.—(/hear, hear.)—
They had all agreed upon a comptelleissive inquiry:
why fritter away that by dividing its parts,
mid submitting to tau t7iiitimitteer, one of whom
could not act without ht reference to the other. He

could assure the ROA Hon. Gentleman opposite,
diet he did not desire a of opinions on a sies-
tiun like this; ou the comniry, lie was tno4 anxious
to grasp at any point of agreement diet could be
found between the two motion,. Upon the neces-
sity of an inquiry there was only one opinion ; then
the only question was as to making it by a COM.
tnittee of Secresy ; and he thought that. in point of
delicacy towards the Batik, no other course but
that of secrecy was proper in this inquiry, so far
as their affairs were investigated by Porliament,
and investigated too, it should be considered, by
au act of violence, or at least of strung endue.
rity on the part of the Legislature—an act which,
in fact, could only be justified by public safety.
It would be, he thought, a misfortune, if the sub-
ject were taken op in parts, and information theu
sent forth in detail, accompanied by loose facts
and loose inferences. The Committee of Secrecy
would take the mauler up as a whole, and after
deliberate inquiry, record a safe end steady opinion
upon all the bearings of the question. It may he
raid that they had agreed upon the necessity of a
Committee of Secrecy. The next question then was,
how this Committee should be appointed?—(Hear,
hear, from the Opposition Benches)—Titen cone
the old attack upon the ballot, winds was always
made whets there was not another leg to stand
on—it was a last resource, an expiring effort,
to make the ballot the ground of complaint. A
similar attack was made in the fist year of the last
Parliament, and to the refutation it then met with
he must refer those who had not heard the speech
which, on the tetcasiots to which he alluded, fell
from the Honourable Member for Bramber (Mr.
Wilberforce). The s.ime attempt had also received
tut appropriate answer front Isis Right Honourable
Friend (Mr. Huskisson) on a former occasion. He
hoped, however, that notwithstanding the renewal
of the old story about ballot or no ballot, they
would, after going into the Committee, under-
stand each other better, and really view the busi-
ness before them with coolness and temperance.
He would defy the Right Honourable Gentleman
to produce soy instance its the Committees by bal-
lot where unanimity slid not its a great degree pre-
vail, and where even the Honourable Gentlemen
who sat on the Opposition benches, were not found
generally concurring in the measures proposed in
such Committees by their political opponents. But
he particularly hoped that the Rt. Hon. Gentleman
would devote more uttention in the Committee (if
one were now adopted) than he had dune en a
former occasion, when lie deserted at mute the mo-
ment he could not carry his own point. Ile trusted
he would not repeat that course, and turn tail on
the next occasion when his services were required.
This was, he readily admitted, a question of the
greatest importance, not only to the Bank (fur the
Bank was only, in this case, the represetentive of
the public interests), but to die social interests of
the empire; nay, of the world at large. The
Bank was only as a fly on the wheel, when com-
pared with the momentous interests which grew out
of the question. It was, therefore, iticumbent upe
on the Legislature to approach the subject with
calmness, and avoid a false step which may entail a
large suns of misery upon society.—(Heur.)--It
was a confusion of terms to say, that the circulat-
ing paper medium of this country was a forced
currency ; it in no settee bore any resemblance to such
a deuuteitiation. He denied the fact, that this was
the only country in which the creditor of the State
could not demand his debt in specie ; on the con-
trary he knew no country in such a state as this re-
specting its cut rency— (I !ear, hear, from the Op-
position lienchesj—tie meant in so fair and solvent
u state. lie Liew, indeed, that the Bask of Fence
paid in cash; but then the system of currency upon
the Continent was by HO means similar to that
adopted here, and the cases bore en resemblance to
each other. He was reedy to admit that the sb-
setice of a metallic currency deranged the system
of iiitunce which ought to he upheld its this country,
but in the attempt in reinstate it upon its proper
footing, lie could not consent to destroy the repro-
ductive energies of the country. The poor num
was entitled to the most considerate protection, but
the benefit he wrothd derive from a inimeory
cliwitmess of subsiste..ce, would be soon outees4 tied
by the speedy loos of r topl:iyment which tomy
low. It was said that the Batik had acted inju-
diciously in a partial resumption of cash payments
lie denied, tior at the time there was every
prospect of a settled comse of foreign exchange,
though micurnstuncee afterwards affected it,, amid
the Batik took the pi oper course in taking steps to
gradually fill the market with specie, and prevent
thist transition and convulsion which might tither.
I wise attend a stiddemesumptnits of rash py meets—
(Bear, hear.)—See what would be the result in
the present state of things if the Beek were to
issue a new cumage. There was I:0W H
of 7 per ceet. between the price of gold in the m ir-
ks" and in the Mint ; the itionient therefore, ehde
this difference subsisted,shut
CV:1!/16,.:ode