The National Register.
London, England, 1811-05-12 00:00:00

REGISTER.

ci ease hi the price of bullion. The scarcity, however, which
was felt in 1800 and in 1801 ceased in 1802, and the pressure
which it had caused ceased also, or at least was diminished in a
very considerable degree. He would now call the attention of
the Cemunittee to the Eleventh Resolution of his Right Hon.
Fi the average price of wheat in the year 1798, was
505. 3d. ; in 1799, 675. 5d.; in 1800, 113 s. 7d.; in 1801, 118 s. 3d.;
.and in 1802, 675. sd. That the exchange with Hanibureli was
in January 1795, 325.; January 1799, 375. 7d.; January 1800,
• 325.; and January 1801, 295. Bd.; being in the whole a fall of 22
.per cent. In January 1802, 325. 2d.; and December 1802, 345."
Now, from the history of those Five years, and the manner in
which the exchanges recovered when the scarcity which had led
to the pressure of them had ceased, he thought with an extraor-
dinary foreign expenditure for the last few years, occasioned by
the war in Spain, and expences incurred in the Baltic, the effect
produced on the exchanges might reasonably be ascribed to
causes similar to those from which the evil was known to an e
before. The Committee did condescend to admit that the se
causes might in some measure contribute to the effect produced ;
but though they could not deny this; they would not allow
them their due weight. The resumption of cash payments w: s
impossible. Gold could not be procured ; and if it could, the
tank would immediately he drained of it, without any i..dvan-
tage to the public; and that proposed as a remedy would but
aggravate the evil. Under these circumstances, however, the
rot ioanl Resolution proposed by the Committee was t; do away
the Bank restrictions which, acting singly, had produced no
sensible effect, in order to get out of the difficulty ' • while those
causes which were known to have given birth to it before, were
to he disregarded, though they had been felt for three y ears, and
were still increasing in force. If ,tich a measure were unhape
pily adopted, it might restore the balance of exchange, but it
would destroy the foundation of the country, and render it im-
possible to continue that contest which all were agreed ought
not now to be relinquished. From what had been heard in the
course of the debate, it was clearer than ever that that recom-
mended by the Committee was not practicable; and if it were
practicable, it would be most ruinous. Having stated, not all
he could have wished to have said, but that which appeared to
him of greatest importance, he now came to this conclusion :
that the measure proposed was a measure which, if adopted,
would be adopted without proof of its necessity or expediency,
against the evidence on which it was founded, and contrary to
the examples of former times; and they, in adopting it, would
disgrace themselves for ever by becoming the voluntary instru.
nients of their country's ruin.--(Hear, hear, hear
• Mr. CAN NING thought the Committee had been hardly treat.
ed, yet by no means wished to speak against, or even " disre-
commendatorily" of the Bank Company. After, however, an
attentive and serious investigation of the question, he felt him-
self obliged to come to the unwilling, the reluctant conclusion,
thatthe paper currency had come to a depreciation ; to counter-
act the further fall of which, should be the, first object of the
House...-Adjourned at four o'clock.

THURSDAY, STAY P. '
LONDON 'THEATRE BILL.
Mr. Met:Elsa moiled the second reading or this Bill.
Mr. WHITBREAD said there was a probability of Drury;latie
Theatre being rebuilt, and hoped the Hon. Gentleman w'oul4
postpone his motion. .
After a few: words from Mr. DROWN ind Mi. W. POLE,._
"Vit.. PET ERMDO RE' nrived that the ieeond reacting shoed tie
~
pottpondin that dal three:mcmths: ' .
General TAR Lrtori. expressed a hope that the House would
".!de •'thc ,osltiOn, * • '.

accede to _tie Itt'apt .
Mr. Mitt:l4s)77i: said ;that the greatett• incanvenfente' vile
expertenenctby t ie town, ft rtire want of another Theatre
Mr. MOREIs spoke against the second-reading.
Mr. SHERIDAN addressed the Hattie it sant length.
- After which; and a few ‘V'ttvations from Mr, DENT, Mr.
C. SON r:0411,;, anti Gentoil rettirpc, tbe Huuse divided, when
314peared.•;•Vbf the.Amendmeirt; 80; Vtinstit, ;
majo-
rity for the Amendment 57, • • • •-•
Mr. BAKER fiiiiiretreirttriftiritirrttpon- die Canterbury Hare
.brairt Etil b waturead a Second tithe.'
' The lunkeeper's,ll4ll-was read a second time and passed.
. . A.. petition. Xv.a3 prcornted-frani henry Lernoti, late Clerk of
the Citecque. at Sheerness; but.dismissed by Lord St. Vincent,
for not havinevigilatitly superintended his clerks who had.made
false musters and returns.. It otaterl'tke-hardstip§ on the peti-
tioner; whu had himself been guilty of no-crimer; but that of oat
,being ablet Under *the old regniations, sUfliciently to controul
those under -him: Mr: R. W4lO and Mr. CROKE& spoke
against the meritsof the petition, whit& wa ordered to lay on
the table.
111(4.0 it Axe rr.r.on of the ExciteQtntrobtaiaed leave to bring
to a. Oil' to empower the Lords-. or the l'reasury to exonerate
tkofic distillers from sugar torn certain antics on Wa6b irriposad