The National Register.
London, England, 1821-05-07 00:00:00

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138

ROA! TUESDAY NIGH TS GAZETTE.
WHITYIIAI.I„ APRIL 50.
The Ring has been pleased to grant mint the Bee. James
S:anicr Clarke, doctor of laws, and one of his Majesty's domestic
chat.lains. the place and dignity of a prebendary of his 'Majesty's
free chapel of St. George, in the caztle of Windsor, void by the
death of Dr. Frederick Dodsworth.

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"Ifr 4t*%- 84.

THE NATIONAL REGISTER

?imperial Maritaintitt.

HOUSE 01' LORDS.
TUESDAY, MAY I.
The (louse met this day after the holidays.
Lord HO LLAN I) presented a petition, signed by upwards
of '4'ooo persons, inhabitants of St. John's, Newfoundland,
complaining of a defective adminharation of the law in that
colony, The petition was then read nod laid on the table.
Lind HOLLAN I) presented a second petition from ano-
ther instoct in the Island of Newfoundland, having the
stone objert. 116 Lai dship observed, that the second peti-
tion he had preheated appeared defective, a ith respect to
the 'signatures, and he therefore withdrew it. The House
adjourned.

WEDNE-DAY, MAY 2.
On the motion of the Earl of LW LRPOOL, the third
reading of the Bank Cash Pas meats Bill was postponed to
Friday, in consequence of the uuavuidableinb►euce of u
noble lord.

On the motion of the Earl of Shaftesbury the house ad-
journed to Friday.

IrkIDAT, MAT 4.
Mr. Smith, from the Commissioners of Richmond Bridge,
presented an Account of the Receipts and Expenditure of that
concern.
M. Steward, from the Customs, presented an account of
English and Irish goods exhorted to Russia.
Mr. Walpole, from the 'treasury, presented an cacount of the
National Dein, made up 1816 to the present year.
Lord SIDNIOUTH laid on th..: table papers relative to goods
exported from the East Indies and China.
DAVY CASII PairsENTs.---The Earl of LIVERPOOL, in
moving the third reading of this Bill, said, he was induced to
state shortly the object of the measure. It would make no fur •
ther alteration in the law as it stood, than interrupting for one
year the arrangements which took place about two years since.
The lords were not aware that the previous arrangements referred
to several stages. First, when the Bank was prohibited from
paying cash payments; secondly, when the Bank was permitted
to pay under certain regulations ; and thirdly, when restrictions
should altogether cease. With respect to the former bills, the
Lank could have no power to issue specie before May, 1822, but
if this bill was adopted, he could state with pleasure that it was
the intention of the Bank to take measures for the immediate
resumption of cash payments, and to lay off first 11. notes. Such
was the state of the public markets, that great inconvenience
would arise from not giving to the bank the power of issuing
specie. It was a permissive bill, and could not tail to be ad-
vantageous to the public.
The Marquis of LA NSDOWN did not rise to oppose the bill,
but the importance of the subject made it impossible to avoid
saying a few words. The bill would produce an alteration in the
public securities. If the bank had the power of issuing gold,
and the circulation was restricted within proper limits, the public
would no doubt receive benefit. The bank had in its coffers
sufficient gold for the public service, and all difficulties on that
subject hail ceased during the last seven or eight months. The
Batik might with perfect safety return to cash payments. It was
as the noble earl stated, a permissive measure, and could not
interfere with the important question, whether a paper or me.
tallic currency was most convenient for the public. If it plainly
appeared that the provisions of die Bill would lessen forgeries,
Parliament would come to a decision at once • but the more he
considered the question, the more he was doubtful on that point.
The noble marquis (lid not oppose the passing of the bill.
The Earl of LAUDERDALE was not prepared to say the
Bill would be generally beneficial. It was doubtful whether a
paper currency was not the best circulating medium. Adverting
to the subject of economy, which seemed connected with this
question, the noble earl expressed a wish to see some permanent
practicable system established.
Lord KING said, he was persuaded Parliament might make a
sensible and useful reduction in the pubLc expenditure. If the
(louse of Commons would say it was expedient to reduce five
millions of taxes by affixing certain stipend, to certain offices,
the government would find all Moses office* so reduced, would
be willingly formed. He supported the bill so far as it did not
interfcte with the great question of an improved metalic cur-
reficy.
The Earl of LIVERPOOL in reply, said, when this bill
passed, the bank would call in its 11. noun, which would take
six or seven millions of gold. The public would then come to a
metallic currency, and if Parliament thought fit to return to
paper currency, much difficulty would arise. A noble earl had
expressed a doubt whether paper or metallic currency was most
economical. He (lord Liverpool was of opinion that paper cur-
rency was the mos: economical ; but they had to look at the in.
convenience. They had to look to forgeries. He was certain
that in critical times more evil would arise from paper than me-
tallic currency. Some allusions having been made to taxation as
the cause of public distress, the ncble earl was of opinion taxes
were not the cause of distress. As a proof he cited the :tate of
America, w'iere the public were distressed equal to this country,
although that Government had repealed all the taxes. In this
country not less than sixteen minims of taxes h.,d been paid off
since the peace, yet distress was greater than during war. W ith
respect to a Sinking Fund, his opinion was, that a surplus of
five millions was always necessary fur the welfare of the country.
Any attempt to reduce the standard would be a disgrace to the
nation. 'I lie noble lord's plan was neither more nor less than a
depreciation of the coin of the realm. if the country was in a
situation that it could not pay its debts, the honest and manly
way was to avow the fact, nut to depreciate the currency. With
respect to the amount of taxation, it was great, but why not con-
sider the immense charge, amounting to 15,300,0001. which the
country paid as half pay and pensions to the Military and Navy ?
That sum was a dead weight, incapable of being controuled or
reduced by any Government- Returning again to the object of
the bill, he said, if the noble lords were desirous of trying ex-
periments with the coinage, they could not tdo better than adopt
the measure then under consideration.

aisiNON

Earl DARNLEY expressed an opinion, that considerable re-
duction might be made in the great establishments of the country.
In the Ordnance alone much might be saved.
The Duke of WELLINGTON said, if the whole of the
Orddance Estimates were abolished, the reduction would not
amount to one third of the army estimates.
The Bill was then read a third time and passed.
Adjourned to Monday.

HOUSE OF COMMONS.
MONDAY, APRIL JO.
This house resumed its labours; the speaker took the
chair before four o'clock.
The Marquis of Londonderry took the oaths and his
seat, as member for Oiford.
A person from the Cole'. Secretary's, Ireland, presented
accounts from she Irish customs.
A new writ was ordered for Luggershal, in the room
of Lord i.;arliantittun, deceased.
Mr. P. MOOBE presented a petition front gun and
pbtul mainifeettners of Birmingham, praying that the
ummi.terr might be impeached.
A bill for lughting Barnstaple with gas was brought in,
and read a tint time.
A new writ was ordered for the county of Stirling, in
the room of Sir Chid les Eillsonolstune, deceased.
A petition was presented against the Ipswich gas light

A petition wu presented from the Edinburgh Union
Canal Company, respecting the existing acts, etc. Itetet-
red to a committee.
Mr. SMITH moved that the Right him. Geo. Canning
have leave of absence for ix weeks, on account of urgent
private business.—Ordered.
The Steam Engine hill was read a second time.