The British Press; or, Morning Literary Advertiser.
London, England, 1818-02-14 00:00:00

of annual Parliaments, and an extensiou of the
eleetive franchise.
There Petitions were ordered to be laid on the
table.
EXCHP.QUER BILLS BILL.
Mr. BROODZII brought op the Hapset of the
Exchequer Bitle Bill.
Mr. Titular—" I wish to put a question to
the Right Hon. Geotlensaw opposite, no the subject
of his financial erningeraeutv. I understand that
the Right Hon. Gentleman only wants Exchequer
Bills to the ainnunt of sg,noo,ooob for the present
year. and he has told us that he will only want
someromouL of these before Easter. Now, what
became of the 6.000.0001. Batik Loan, which be-
came due early in April—wits it to be paid out of
the 30.01)0,000/., or in what tithe. mintier? The
Right Hose, Gentleman has said. it will be paid
early in Anvil, and I ask, is it under cover of the
3a.000.0001. ?
• The Cita PciLtoa of the EXCHEQUEII.-84 There
is in, qoestion that the sum for which I have called
will be sufficient to cover all demands in one entire
stun ; hot I upprelwnd that the payments will not
ha required in this compound mass, but will be
gradually paid vi ire money, to the mutual cOti-
vensence of the parties."
Mr. Tummy ••••4 Will the Batik Loan be petit
wp to, athlete the moment when the present bargain
with the Hank 'zither ?"
The CHAWCIIILLOII of the Excareguatt" No
part of the Houk Loses of 6,00C,000% will be due
until the Soh April, and then the payinents will
• cootwarreare'
• Mr. Ttenuor—de Will the payments be diode
In one form tor smother on that day ?" •
The Cusaon.Loa of the Excistoura—.“ P*.
hips not in woe sum. The payment will then
commence, and he madteceordisig to the mutual
-convenience of the parties."
Mr. TIEIVIET-•-'• What is meant by commenc-
ing this isayinent, and going on with it to the me-
lon, convenience of the parties ? Here there can be
only covivenienco, and that is, that the pieties to
whom the money is due should receive it. But this
sort of &Aliening knocks in the held whet the Right
Hon. Gentlentms previously told us. lie slid on a
farmer rciglit that the 6,000,0001. oartgsiti with the
Batik was to be paid oft in money. Nov he said
this was not to he the case—that the paphesits
•woeild only commence on the sth April. How
Sliest was the Bank to resume its cash payments,
.which the public had an absolute right to. expect
from it, if this Loan were not paid off ?—(ther.)—
Now the Act rotatively specified that it should be
paid off on the 3th April, but the Right (Ism. Gent.
has ath!eil what Ilse trainers of the Act never thought
of, that the payments are to be made at inutile' con-
venience. It toted to he • matter of jealousy to tube
care that the Supply and Ways and Means should
tally in winount ; hut now quite u different course
was athipird. If this 6,000,000 t. be a part of the
J 0,000.000/. voted, why Imetpune the twyment of
it ?—if it be not. why vote it now? How it has
been voted, and is ion to be paid, I cannot coin.
prebend ; indeed nobody can comprehend what the
Right Ilan. Gent. has been driving ut.--(hear.)—
It win. lottutie to have been opposed to the Lute
Air I' tit, and to have differed with I in his
tininicial statements, but yet lie condescended to
• tell what they were—we could at least -see what
lie turned at, but the case is quite different new,
(flear.)—For. out a bonnet night, I then:gist. the
Hight Gentleman had liven sufficiently ex-
plicit, and that any hotly with the simple goals&
cation of linowilig the English language. tacit
,ve understood him to say, he meant to pay oil a
particular limn of money. I will not wow refer to
what the Hight [ion. Gentleman said—he was
;titer' bewildered, or he bewildered his lieurers.—
•,' and a laugh.J—lle was either very (taut-
tuilJte in his stateuteitt, or we in understanding it."

1.-111 w
The CHANCELLOR of the EXCHEQUER said, that
he nod:wood the question put to I all a former
slight was, aliether it was almost to ply mt. the
Fink Loan in money ?—( Ikar,ji one .11r. Tierney)
—to which lie had answered in the affirmative, but
lie never rail the payment would be stride on ■
particular day. As to the actual re-payment, all
he ineasit to convey was, that it would he made in
due time, and most certainly so as not to interfere
wiili the resumption of cash payments on the part
of the Bank.
Mr. TIERNILT—" The Rii,rlet Hon. Gentleman
has stated the cpstutiow pot to him truly. I asked
I • wheilier the Batik Loan of 6,000,000/. would
be paid it, cash when due ? I held at tlw time the
Act of Parliament in my hand, by which it was
specifically made payable rob the Sth April. He
answered, Yes, and hi money.' I was so stupid
mid dull as to suppose that payment on such an oc.
flexion foram to pay the sum due at the time speci-
lied. Fool as I was, such
was my apprehension!
tmt I now find I was quite wrong."—(!/ear, and
husghier.)
Mr. Stuart—" Is it intended to pay this Loan
hefore the resumption of cash payments by the
Bank ?"
The CHANCELLOR of the EXCHF.QUER—" It
will he tei:md mu su.lt sums as shall be required by

the Bank:"
Mr. Gutarsta.—'o I thought the payment of
this Loan was to t:ske place in cash on the sth of
April. Now the Right Hon. Gentleman says it
is to take place whets requi►ed. By the Act of
1816, in the Loans with the Bank, it was optional
with the Government to delay the payment for
Ilitre main object in rising
war, I,awever, to r Xprelli a hope, that in raising
smolt, by Eschequrr Bills, Government would, as
.nurlt a• p s.itnlr, adhere to the systems or 21.1. per
die* bills, at 3 per cent.—these bore a premium of
11 per cent, Ls thlt the advantage to the public in
this simile of raising money would he fur the snot
wanted e•lual to 2 or 300,0006, or on the ulterio►
ammont sor 600,000/. Besides, this would have a
tendency to keep clown the rate of interest, which
w„,i1,1 lie highly ativitstagrous to the country. A
tow state of ►nterest would be a powerful stimulus
to ogricultstral mod mercantile industry, and pro-
doctive of the most heneticial results. Gentlemen
of the landed interest would then have a fair oppor-
icnity of improving their estates (end in this inb-
'UM ellirlit 01e politic always (aarticipated), instead
ul' bring !sliced in the diffivultirs they were in this
respect at the dove of the war. Those who trusted
to the foreign fonds had certainly a higher rule of
interest—the French funds were 8, and ours 31.