The National Register.
London, England, 1812-03-22 00:00:00

THE NATIONAL REGISTER.

rplexinecircumsteoces in the Courts of Law, he had deemed :it ex-
pecheat to frame the present amendment, which he here notified, for
the future acceptance of the House.
Lord Foeteroe E declared his astonishment at the amendment pro-
posed by the Right Hon. Gentleman. The measure, at the close of
last Session, had been passed its tehurry, to accommodate particular
and pressing circumstances, without having undergone any exp%ss
investigation, and now the Right Hon. Gentleman called again Upon
Aletnbers to agree to its- renewal, without any examination whatever,
which the House had expressed the utmost uneasiness about when the
measure passed so rapidly through their hands during the Session before;
and would they consent then, tinder these circumstances, to a measure
which at once constituted Bank-notes a legal tender His Lordship con-
cluded by opposieg the motion.
Mr. Ti ERN Itir rose, not in opposition to the present measure, which
he would refrain from, though he was conscious it was the most im-
portant Bill for the nation at large ever produced •before the House of
Commons; nor was he at present prepared to say that in any future
state of the Bill, he would trouble the House with his opinions. In
truth, the whole had been thoroughly searched by the Committee ap-
pointed for that purpose, whose excellent Report was never surpassed,
and by the ample discussions throughout the progress of the Bill be-
fore tee whole House, all of which showed nothing was to be gained
by making any opposition to the measure except obloquy, and reite-
reed exclamations from Ministers, that Gentlemen were endeavour-
ing to cast down the currency of the realm and create inextricable
confusion throughout the whole operations of British commerce.
Those persons who had set themselves in opposition to the Bill, de-
claret that Ministers were proceeding from a had measure to a worse ;
and really the Right Hon. Gentleman's (Mr. Perccval) assertions showed
that he was not standing now on a " rock " (Hear, hear ! ) How the
present Aniendelent would fall short sf a legal tender he could not
conceive; it went so far, in Lis opinion, as to make all contracts,
of whatever kind, where the tenant chose to resist, payable by
Benk-notes, were the case carried to a Court of Law. Eut the Right 1
flute Gentleman (Mr. Perccval) must contemplate, amidst his own
good sense, the evils of the policy, and feel pain while be proposes
such a measure. 'Else Right Hon. Gentleman might gaze oil the Bank
of England, bin he dared not meddle with it, because, from being
his servant, It was becon:e his master. He knew well, that the finance
entietly depended upon the Batik alone, and the House would never re•
-
quire the last mastery over their servants, unless they caused the Direc-
turs to attend them, and showed them by evident demonstration how
Parliament was their masters. Was it not a direct fraud commit! ed
upon a man to cause him to accept of paper instead of gold frcm a Cor-
poration like-the Bank of England, which none knew to be solvent ?
; Hear, hear !)—lt was worse than the assignats of France, which
were payahle upon the national deinesne. If the Parliament was really
resolved- to adopt the Bank of England as their master, commerce might
mourn her death blow.—(//car, hear ) It empowered the Bank to issue
haineinis quantities of paper,_ according to directorial pleasure, and
against which there remained no power to secure it within proper
limits. The Bank, as a Corporate Body, possessed a most insatiable
thirst for gain, and bed *conducted themselves accordingly. Let them
produce the accounts of the enormous profits accruing to them since the
restrictions were first put upon them, for the House to examine the pro-
digious gains. 3y tit acts of some person the country had been induced
to believe, that on the uninterrupted progress of Bank issue depended
the prosperity of the country ; such had been the representations, and
the nation at large believed fondly in the assertions. It, was easy for
the Chancellor of the Exchequer to raise a cry against all those who op-
posed
his measures, and no doubt Ike plumed himself upon his future
success in the present motion ; hut let him take all the 'responsibility
teem himself: he was a stout man, and glorying in his might, regarded
neither minority nor majority.—/Hear, hear ! )—Let him therefore
consider, along with his darling Bank ore,kilisigt how he may carry on
his gigantic system, and preserve the !laded": or his own part he had
eattred his solemn protest against the measure, and his conviction was,
that should it be eoutinued, the prosperity of ee country would be for
ever blasted, and all hope ruined.
. ,Mr. Precevee said, the Right • Hon. Gentleman had totally •mista-
k el one of the Minister's sources of delight, when•he declared his belief
ill the utter indifference exhibited by the strong man, the Chancellor of
the Exchequer, whether he shouts,' ha; pen to be in a minority or ma-
j"rma-
jorityThe Right Hon. Gentleman appeared terrifie.d for the public
opinion, but !sae entered his protest against the measure, even while he
was declaring that he was aware of its popularity ; he allowed the mea-
sure, which he condemned, as one capable of endangering the public
credit to proceed, without any opposition, declaring 'his unwillingness
even
to enter the lists of controversy again. Really. (for he was willing
to quiet the Hon. Gentleman's mind) he felt pain in proposing the •
Present measure, but not from any consciousness of its evil tendency ; I
Be
was fully assured of its necessity, but not from the thoughts of the
Bank having gained the ascendency over him as the-Hon.Gent. had ima-
Riled- When he examined the assertions of the Hon. Gent. himself, he
was almost led tte believe that no man was capable of framing three
sentences, and stringing them together, more strongly calculated to
an
shake tile Bank than those which the Hon, • Gentleman had empleyed,
d at a moment too *hen be Was eapressing the utmost unwillingness
to utter
SentenCe against them. Had the Bank evinced any desire, or

demonstrated any inclination to take advantage of the situation of the
country, then there would have been room to wield such language;
but the issues of the Bank, so tar from increasing, were really.lower
than at the moment when the Bill was framed towards the close at lest
Session. On the whole, therefore, he returned thanks -to the Hon.
Gentleman for his courteous and magnanimous resolution of abstaining
from all future opposition to the Minister's measures—it was an avowal
of pacific intentions worthy of the Hon. Gentleman.
Mr. TIERNEY, in explanation, observed, that the Right Hon. Gen-
tit man was very much mistaken if he supposed, that because-he did not
mean to give any further opposition to this measure, he should notvp-
pose him upon other questions, for he never saw any gentleman whom
he was more disposed to oppose upon all occasions.
The House then divided, when there appeared—For bringing in the
Bill, 73; Against it, 26—Majority for the Bill, 47..
Mr. TIERNEY then moved, that a Secret Committee be appointed to
examine into the outstanding demands against the Bank of England, and
the nature of the. Funds to discharge the same; also to inquire into the
operation of the Order in Council of the 27th of February, 1797, and to
report their opinion thereon.
After some observations from several Members this motion was nega-
tived without a di%ision.

Mr. TIERNEY likewise moved for an account of all sums divided by
the Bank of England on their capital, from Jan. 5, to Jan. 5, L 1312,
which was also negatived.---Adjourned.

WEDNESDAY, MARCH 18.
The Charitable Donation bill was read a second time, and com-
mitted for Friday.
Mr. WulTinteAn presented a petition from several thousands of the
manufacturers of Yorkshire, stating the hardships under which they
were at present labouring ; and stating their conviction that the hard-
ships resulted from the war, and the present system of representation
in Pm-li:inumt, and praying for a Reform in Parlimeat. The petition
xvrts br,tn;ht u", rt ad. zinc' ordered to lie on the table.
Mr. lL d for an account of th.s different sums raised for
the Public Service e..ch year, sines the year 1790, distinguishing each
year's amount, and „he sum raised each war by taxes, and by loans.—
Granted. TIL! fio7l. Gentlemen said, he was of opinion, that, on a
very short notice, the Bank would be able to pay, even In specie, all
demands whidi could be made tipoa it.
Mr. MAURICE Fl ZGERA LD moved for an Ae:•ount of the number
of gallons of Irish-made Spirits on which duty had been paid in Ireland,
and thir amount of said duties, which was agreed to.—Adjourned.