The National Register.
London, England, 1816-05-05 00:00:00

WEDNEIDAY, MAY 1.

Sc•cr:il imAitions were premente.d against the Leather Tax;
MAO from Ili, Land•om tiers in respect to agrienitttral ili+tre,s;
and front time County of Cssear against the Insolvent Debtons'
Act.

Mr. I..sm es.Tos stated his intention to brio:: the subject of
Lotteries before the consitleratian of Parliament.

Mr. C. WaNtolt Submitted a motion to the !louse. whether
the appointment of Sir T. Thompson to the Treasurership of
Greenwich Hospital vacated his seat in Parliament.—Mr.
Bankes moved the previous question; which was carried on a
divisicui, d.; against 17.

BANK RESTRICTION.
Mr. Hoiden moved for a Select Committee to he appointed,
to inquire into the necessity of renewing the Bill fur chnkinsiug
the • .strictions on the cash payments by the Bank of Engiead.
The Hon.Gentlassaii observed, that the understanding come to,
in respect to the Bank of England, was. that on the restoration
of peace, cash payments should. immedi itelv be resumed. In-
stead of:this, the Mt. Hon. Gentleman had desired the renewal
`of the Bill fur two years ; fists giving a doubt of his sincerity
with respect to the pledge held out previous to the terminatiou
of the war. It was now, for the first time in a period of peace,
proposed to continue the restriction for two years. It could
not be denied, that a great redoction had taken place during the
last year in the circulation of paper. This had in a grrivt mea-
sure arisen from the agricultural distress, the reduction ofeumary
banks, and country bank paper; besides which, it also appear-
ed, from the papers before the House, that a reduction had
taken place in the circulation of Bank of England paper. These,
he contended, were circumstances favourable to a return of
cash payments. The inconvenience which had occurred from
a continuance of the restrictions dining a time of war had beers
great ; but what would be the effects of continuing them in time
of peace, .and destroyissrobe standard for appreciating the va-
lue of money ? The inconvenience would amount to the greatest
evil to the agriculturist, who was ruined by athictuation of price
and value, which must always be the resolt of a paper circula-
tion. Gold had now fallen to uear the Mint price. There was
no importation of corn—no exchanges against us ; and therefore
no time more favourable for the proposition could ever in his
opinion exist. As to the best mode of resuming these payments,
1w would suggest that the Bank should pay their different de-
scriptions of notes In cash at different times ; for instance, that
after the Ist of January next, the Bank should pay all notes of
one pound in cash ; six mouths after, their two-pound notes ;
and at a period of six months after, five-pound notes, and so on.
One other subject he bad to advert to, and that was the state of
the silver coinage ; but unless the standard value of the circu-
lating medium was rendered stationary, it would be iu vain to
issue any new silver coinage. The Hon. Gentleman observed,
it would be idle fur the House to attempt to deceive itself—if
the measure now proposed were not carried, cash payments
would never be resumed. He would, therefore, now move for
"a Committee to enquire into the expediency of resuming cash-
payments by the Bank, and the best mode of doing so.
Mr. VANSIrr4RT could not agree, that an extension of re•
striation now would be extension for ever. It wordii.be neces-
sary that the !tank should have time to prepare for the resump-
tion of their cash.payments; and that they should, previous to
commencing cash-payments generally, make such issues aerials
as might in some degree satisfy the desire of the public kw gold.
Asiother precaution would also be necessary; namely, to extend
for some time protection to the Batik of Eugland notes in the
payment* of Goverffinevot. With respect to tilt:argument which
had been advanced- by the lion. Gentleman, that the price of
the Articles of life bad been raised by the increase of paper cir-
culation, in his opinion, the contrary was the fact, and that the •
rise of price had increased the circulation. It was the decrease
of price which had decreased the circulation of country bank
paper. The Rt. Hon. Gentleman then contended, that the
price of corn did not, as haul been contended, operate to affect
the price of gold ;since at one period of last winter, when cern
was falling in value, gold was rising in price. With respect to
extending the period oleic restriction for two years, he consi-
dered it would be better to propose two years with some degree
of certainty, than one year with no certa;tity.; especially as the
Bullion Committee had named two years after a peace, as the
earliest probable time at which such a measure could be safely
adopted. Upon those grosuids he opposed the appointment of
a Committee.

Mr. Msystma declared it to be the most anxious wish of the
Bank Directors to be enabled to return to, cash-parlor nts ; yet
they were friendly to this Bill, became they could nut give any
security for resuming them in less than two yearg.
The House then divided—For the motion 73—Against it 146
Majority against the motion 73—Adjourned till Friday.

FRIDAY, MAY 3.
Mr. BitovanAftuasid, he understood that in March, MaY•
and August, of the last year, circular letters were sent round
to the'Sursetors of Taxes, directing them to send complete
copies of the returns of every person to the Assessed and Pro-
perty Taxes to the Board of Taxes. What was the object of
this order lie could not say ; but he had since been informed,
that another circular wail sent, on the 19th of April last, nem! a
month after the tax had died by a decision of that House, re-
quiring anothor, similar full and ample return. This could
answer no other purpose than to. expose the private affairs of
individuals. Ilse Hon. Gnu. then moved for copies of all cir-
culars written by the Board of Taxes in March, May, and
August, 1815 ; and in April lOU, to the Surveyors oh. Taxes
in the different districts.

Mr. VANUTTAUT liail no objection to the motion ; the Hon.
Gent. must be aware that these returns were necessary to re-
gulate the business of the Office.
Mr. Bitola:H.4.X could not consider thou necessary, !Wept
ti• a record to be kept in the Tax-office, open to all the ks
in that oilive, of what was the property of every onto in the
kingdom in the year Ishii. Impressed with that ()pluton, he
should on ao early day 'uoatit a 'notion to thi itoie.e, the pur-
port of which wsuld be, that all these impels &tmid be destroy-
ed as etb ettially and as speed ly as possitde.—lhe motion wait •
boa agreed to.

ADDRESS TO THE PRINCE REGENT.
Lord C tsTLICREAGit gave notice. that he should an Thurs-
day mole a vougritulatory Address. to the Prince Warta on
the marriage of his daughter. •
Mt. U.IV v Nor; thought should have been movt,i iwtahler.
THE CAll. LISI'.
•Lord C IVTLEIMAGH tl;e at;.!: • e P n fes
'in:o lorther eon. leratitn the Re:..‘rt I
Nat:e j.,rd cu... red ittifi x va. •s • , • c. it... •I .eg-
gotetitbelorinatinauf ry.:Le • 1 1 ••,

MAC 1.

not go to ollgnie.ot the revenue of the Civil List, but to relieve
It from sonic Of th charges vviiick it at rresent bears for the
Public Service ; and these it is i.roposcil to carry to the Con-
solidated Fond. 'llie total charge for the litture Civil List his
Lordship estimated at 1,139,1951. This includes the Windsor
Establishment, the 041.00a1. fur the Pritoy Purse. and the addi-
tional 10,0901. granted to her Majesty in consequence of the
inilisposilieu, when Mr. Perceval forum' the present
arrangement. This 170.0001. 'lodated, the estimates would
he reduced to 1,1'0.1,0001.; and of this the sum of 109.0001.
only is appropriated to the public splendour and dialiestie en-
. joyments of the Crown. The Noble Lord concluded with
moving tin leave to bring in a Lill for the better regulation of
the Civil List. _

Mr. Tieusev did not tils.jr.t to the bringing in of the ;
•stot pledging himself to support it, IT he should, upon a com-
pete understanding of its contents, find it necessary to op-
pose' it.
Leave was given to hring in the fill.

'the Bank liestrictlon Act went through a Committee. Seve-
ral suggestions Mere advanced, respecting the best means of
expressing the opinion of Parliament, on the necessity of the,
liank resuming cash payments at the expiration of the two
veutstfor whi:h WI will be enacted. Mr. Itunkes propos-.
for that purpose, the insertion of the words " no longer"
in the preamble. The words 1` uo longer"'pioduced a loud
shout. 'Die Committee divided on the Amendment, and it,
was lost by a majority of 11.3:1 to T. Mr. Horner then brought
In an enacting clause. compelling the Bank Direetors to adopt
preparatory steps, enabling them to resume cash payments as.
soon after the passing of the present Act as seemed in their
judgment practicable and safe. The Chancellor of the Esche.
quer opposed this clause, as implying a cenAurc on the flank,
and hieing tanueeessary and on Irt division it was negative dby
II majority of ISt to 51. The Bill then, as introduced by the
Chancellor of the Excheipter. passed the Committee, and the
Report gas tottered to be brought up on Munduy *ext.