The Sun.
London, England, 1822-06-13 00:00:00

:vests. It had been clearly shewn that the evils which afflicted
this country arose from the alteration in the currency. His Hon
Friend had clone his duty in bringing the question of a total re-
peal of the Bill of 1819 before -the House, and he contended
that it was no einewes to that motion to say that his Majesty's
Ministers had' made up. their minds on that subject. Per-
haps they were wrong in the decision they had now come
to. That House' was not to be told that because they had
clone a thing they would abide by it. If they had stood
More in awe of ohat House, or if the House had exercised a
mete scratinieiog vigilance over their actions, they never
woo* hese done it. He did not care about stating his senti-
naenta in favour of any specific proposition for relief. He was
eatisfiCd simply- to contend for inquiry. lie did not mean to
say thee the Bank was again co have the power of issuing its
notes at tie own pleasure. He did not blame the Bank Three- i
tore—lie had no doubt they were honourable men. Their first
duty was to take care of themselves, but. that might be against
the interest of the public It would be more proper that Govern-
ment should take into its own hands the issue of notes, and nei-
ther to withdraw nor issue beyond a certain point. But it was
too important a 'trust for any set of men apart from the Govern-
ment to posse" 'with the power of playing fast and loose with
the property of every, person in the country. He believed the
couuiry could not go on in its present state. His Majesty's
4overninent had by, their acts placed it in its present situation,
ecaci if the Noble Marquis could not devise something to relieve
le—if he was unable to see hls.way out of the labyrinth he had
gat them into, he ought to give up his place. They were not to
elk under their burdens because it, was difficult to find a
mode of relievieg them. It was the duty of Honourable Mem-
bers net to go to the country without having adopted every pos-
sible mode to- alleviate its -situation ; and he hoped the House
would force. his Majesty's Ministers to go into an inquiry,
in the expectation of finding some road out of their diffi-
c-ultios. Befele he sat down, therefore, he must allude to
whet he thought a very unfair exaggeration of his Honour-
eble Friend's argument. H'e alluded to the efforts which had
•heen made to prove that his Hoh. -Friend had argued for corn
tieing the standard of the currency. Such e mode, of answering
Air argument was uncandid at least, and certainly reflected on
any one but his Hon. Friend. .
Mr. HUSKISSON appealed to all who had heard him, whe-
ther he had represented the Hon. Member for Essex to say that
corn-was-to be the inriency-; but he maintained that he advo-
ceted corn bethEe•elve, standard. All the Hon. Baronet's argu-
ment also relatielo what he'had said of the tune of King
William, was a misrepresentation. What he had said was,
-that the pressure'arose froth similar causes in both instances.
Sir F. BIJ RD ETT explained.
Mr. ATTWCOD rose, 'butt delivered himself in so low a
tone of voice, that we are unable to give a consecutive report of
hie speech. He began by observing, that the ground of the
motion before the House appeared to have been completely
overlooked by some of those who had opposed it. In his view
ohs, the question proposed for the decision of the House, was
that the whole distress of the country had its origin in the
measures of his Majesty's Government. It was, that the Bill
.of 1819, for the restoration of the standard of currency, was
as monstrous in its injustice as it was extreme in the ruin
it caused • and that at that hour it was in the midst of its pro-
gress of destruction and injastice ; and the object of the motion
before the House was to proceed to an investigation of the
.consequences involved in the operation of that Bill for the pur-
pose of addressing the Throne. In this state of the case it
must be repugnant from the feelings of every one, to hear the
tone of presumptuous confidence in which an appeal was made
to the public faith upon this question, by those who had twice
violated that public faith.—(Hear !)--That violating of public
faith was the extreme and violent alteration.of the standard
of value of the currency which had been made, and when the
object of the motion was
.to restore and protect public faith—to
stand betwixt it and its violators, it was too much to have
public principle Tot forward in opposition to it. This measure
had ruined the fortunes of millions, in unjustly sacrificing the
security of property to maintaining unbroken contracts made
in a depreciated currency ; and he maintained it was the duty
of that Houseeo de what every Government ought to do, viz.—
to secure the.. rierformance of contracts in the same money in
which they had been entered into. He begged the House to
consider the :circumstances of the country, and what ground
there was for investigation ; and then look at the preposterous
amendment which had been proposed, pledging the House to
an useless support of a measure so disastrous. At this time
we were in the midst of a long and profound peace. The
population of the country was most numerous, and pos-
sessing the mast active and unrivalled qualities which were
looked upon as the source of national wealth. There was a
large capital,, godelie land of the country was never more high-
lyecultivated. He was quite convinced that although money,
was an estimate of wealth, yet that wealth was not an abun-
dance of money alone. Now, in this state of things,wearing so,
promising an aspect, the evil which afflicted the country was,
that they were obliged to perform existing contracts, formed
upon low money prices, in a state of high money prices. The
money of this country had been estimated in commodities that
gave a false estimate between one man and another. This mea-
sure of 1819 gave the property of one man to another—of the
debtor to the creditor—of the tenant to the landlord—and of the
landlord to him who held incumbrances on'hie land.---( Hear !)
—Would that House, therefore, consent to leave the public
indhstry of the country so burdened by the public and the
private creditoe They had adopted what they called the
ancient standard of value in contradiction to the modern.—
They had, however, brought about a fall in prices, because
they had haderecurrence to every unheard of speculation rather
than encounter the. question fairly and acknowledge the con-
sequences of the Act. The two great evils, as stated by the
.honourable` Member for Portarlington in 1820 were, a too
.redundant The
and low wages. Now it was over cul-
tivation. The Hon. Gentleman then went into some statements
to shew that the tiluctuations in corn and nreneee were nearly
equal. The Committee of 1813 declared that for a century
preceding 1795 the average price of corn was 495. 9d. a quarter.
The fluctuation in the metallic currency for 50 years preceding
was from 35'to 58e., and in corn from 70s. to 110 s. and 120 s.
Thus the flinkuations in each were nearly the same. The price
of the great staple articles of the country, iron, cotton, and
woe!, would be found on calculation to have fallen about 45
per cent., being exactly, ehe average of the fall in grain. Dur-
ing the succeeleive years from May 1818 to May in the present
year, the prier of, corn had fallen in the-proportion of 314 to
J. If 1001. had been laid out in corn in 1818, a loss would
twee been sustained of 551. If the same amount had been
embarked -in the purchase of those articles the same loss would
have followedewith the exception of 51. The cause of this
must be that those commodities had increased in quantity, or
that money!cohtractdd ; and he believed it would be admitted
that it was the:diminution in money that must be looked to.—
fhe 'lon. Gentleman here entered into a statement, inaudible
in the Gallery, to prove that the reduction of the circulating
Medium had been to the extent of one-fourth or one-fifth, and
that the fall in prices had been equivalent to that reduction.
The reduction of the notes in circulation from 19,000,0001 to
1000,0001. took away 5,000,0001., which 5;000,0001. had pre-
viously sustained the interests of commerce and agriculture,
and this at once accounted for the existing distress. He com-
plained of the-mistification which had been practised in keep-
ing this out of the view of the Agricultural Committee, while
ev.Vy sort of account of wine, of snuff, of spirits, and tobacco,
which had nothing to do with the subject, had been industriously
prepared to lay before them. He traced the measures which
lied been adopted to effect a return to cash payments. In the
first instance the Bank were allowed to try the- experiment of
paying their small notes in cash. The Government soon be-
came alarmed for the consequence of this measure, and the
standard of the war was restored. With it the war prices re-
turned, but .the prospelity consequent on this .change had
scarcely beeh ileatizeif when it was again given up, and a return
to cash paynrOnte, elect ded upon. The Hon. Gentlenian as
proceeding to icliew the injurious' effects which resulted from
this decision; but the' noise. that prevailed in' the House made
ineny of hikieibirlis inaudible in the gallery. '•
Mr. WESTERN spoke-to, order; and appealed :to the House
if it were possible fora debate, on a subject so important, or
indeed on any subject, to be fairly conducted; if the noise
which had prevailed; in the House should continue. •
ICILATWOOD resumed ; the effect of the measure in ques-
tion had increased every debt in the country. It had declared,
that for every 891. owed; 1001. should be paid. It increased
- the public debt in like :proportion, and when calamities like
these were the consequences of a former measure, were they to
suffer any considerations for personal feelings to prevent them
• from attempting to retrace their steps. The act of 1819 was
the cause of the present calamitous situation of the country.
It was a measure of the most enormous iniquity that had
ever been heerd of in 'the history of mankind. •( A laugh.)
Tie repeated it; the . measure was one of enormous iniquity.—
Dar and obscure . in its operation it wounded all classes,
while 'they were unable to see whence the blow came.—
That House would abdicate its duty if it refused to inquire into
the means viltich might exist forilimmishing the evil, which was
so severely folt, and for raising the- country from its present 1
melancholy and 'distracted state. Ile proceeded to shew what
bad been the state of the manufacturers since the Bill passed.
He then referred to the, tirinitituary meetings which had taken
.place in Liianpll,}itp, ,and.the.:miserable state to which the ma-
nufacturers had been brought. The Hon. Gentleman said, his
Rill gave utlw.onterlsonAort to the labourers. Be would main.
tain that Tiky,hadehgeo. eeducedeto the lowest state in which
men could 4sst„,arutthe evil had not been confined to Lanca-
shire, but 34- extended to York, to Northumberland, to Dur-
ham, and other poets! The distresses in Ireland, which had
been put unaePelie consideration of Parliament in the last Ses-
sion, he netiee4a arid, ascribed. to the sanieecause, and he in-
quired whatoneweee had teems adopted other than those of
,coercion, to remoyeehene-? , After, the effetts,athe measure in
;guidon had been so fully developed, he hoped it would be re-

garded as one that ought to be retained. In his opinion it was
the duty of the House to proceed to the reversal of opinions
formerly expressed, which had proved so fatally erroneous ;
but at all events he was certain that it was their duty to inquire
into the subject. lie believed that by so doing it was in their
power at once to put a stop to the calamity, to calm the agita-
tion which had prevailed, and to open a new career of prospc-

rity to the country.
Mr. PEEL said, if favoured with the attention of the House;
he would not enter into abstruse reasoning on the subject before
them, but go at once to the proposition of the Hon. Member for
Essex. Unless that Gentleman had a strong ground to pro-
ceed upon, he (Mr. Peel) mustprotest against his motion in the
separate sources to which he adverted. It was now on the 12th
of June that the House were called upon to adopt the most ex-
tensive duties. The motion had no distinct object ; and from
the reasoning of ail who had spoken, he had not the least idea
what the intended matter was until the speech of the Hon.
Member for Westminster, and different gentlemen had subse-
quently spoken ; each, however, differing from the other. The
Hun. Member for Shaftesbury would not touch the Bill of
1819, but the last Hon. Member let out the secret, namely
to establish a new standard of currency, and lower the
value of the coin to fourteen shillings in place of twenty. Here
then the House were railed on to pause before they acqui-
esced in sudh a measure. He (Mr. Peel) asked what was the
state of every interest in the community to he, in the interval
between the appointment of the proposed Committee and the
conclusion of their Labours?—(hear, hear !) -Would such a
delay have any tendency to calm the mind of the country, or
establish the ancient land-mark which designated the prosperity
of the country ? On the contrary, he thought it would injure
every class of society, if the House could for a moment enter-
tain the propositiOn that the standard of our currency was to be
lowered from twenty to fourteen shillings. If the House voted
such a change to-night, what would the consequence be to-
morrow ? What would be the conduct of every man of sense
in the country ? Why, that he would possess,himself of every
guinea he could lay hold of, and every security which could
profit his interest, during such an interval.—(Hear, hear !)
What speculations must not occur if this mode of proceeding
were adopted ? If perhaps every mercantile arrangement might
not be deranged by it, what would be the result? Every private
contract would be inquired into—and for what period ? For a
month, or year? No; but for the years which elapsed since
the House solemnly pledged itself to a return to cash pay-
ments. In 1814 both Houses of Parliament declared that
the Bank of England should resume cash payments as
soon as circumstances would allow them. In 1816, Mr.
Homer said that he would not agree to the preamble of the Bill
then brought in for the continued restriction, unless a distinct
pledge were held out of a, return to cash payments at the speediest
opportunity, without, however, producing any public inconve-
nience. But still he (Mr. H.) contended for a fixed time. Since
then, the country, accommodating itself to the new state of
things, had determined on carrying the resumption of cash pay-
ments into effect. Many contracts were since that time partially
discharged, and it was only now, after a period of seven or eight
years, that the Hon. Baronet (Sir F. Burdett) declared the ob-
ject f the proposed measure to be a reduction of the standard of
value from 20s. to 14s. How was it possible to accomplish that
change ? How could individuals be dealt with who having pur-
chased at the rate of 70 for 100 ; how could they be now told
that they were only to receive their capital or interest at a de-
preciated value ? What answer could be made to the individual
who said, " I put in my money when the Bank Restriction Act
existed ; but still I relied on the credit of Parliament to repay
me in the ancient standard, if Parliament recurred to it—and
I now put, in my. claim to .that amount ?"—(Hear, hear !)
How deal with the annuitants for the last seven or eight years ?
How deal with those who advanced their money in the full con-
fidence that they should derive all the advantages of a restoration
to a legitimate currency ? If the House of Commons now pro-
, ceeded on a different principle, there would be at once an end
to every thing like public faith. But beside all this, how could
private contracts now be re-adjusted ? Every contract not .so
adjusted must be inquired into, if the Hon. Member's motion
were agreed to ; and What then ? Why, though these matters
might not be insuperable objections to the motion of the
Honourable Member for Essex (Mr. Western), still they were
strong and powerful reasons why it should not be acceded to.
If he (Mr. Peel) could believe the country to be in that state
as mentioned by the Hon. Member (Mr. Western) ; if it were
apparent that the different classes of the country would be ruined
unless it were adopted—if it were proved that the beggary and
sloth of the lower classes were the result of the Act of 1819—
if all that'were correct—if the Ilon. Member's prophecy were
likely to be fulfilled, he (Mr. Peel) must of necessity acquiesce
in the proposition of the Hon. Member (Mr. Western).—But
his (Mr. Peel's) attempt would now be to deny these allegations,
to deny the danger of the Act of 1819—(and never concealing
the present distress, and his regret at its existence), still to
contend that the' predictions of the Hon. Member were not
justifiable, and that the return to a metallic currency was not
fraught with that ruin so confidently applied to it. The lion.
Member fqr Essex referred to the increase of Poor-rates, and he
(Mr. Peel) would gladly take those indications of prosperity
and distress alluded to by that Min. Member. If he (Mr.
Peel) saw any clisproportioned increase of poor-rates now to
that of former times of peace, he should agree with. the Hon.
Member for Essex. The years 1817 and 1818 were more par-
ticularly referred to by that Gentleman ; but then those
two years bore no comparison with the years 1820 and 1821.
Out of 52 counties in 1821, there was only an increase of
poor_rates in two, Huntingdon and Northumberland ; in all
the other counties they were less than in 1817 or 1818. In Wales
he found that there was reduction in six counties ; in one of 10
per cent., in the second of 6 per cent., in a third of 9 per cent. and
in three others of at least 10 per cent. If therefore any inference
was to be drawn from the operation of 'the Act of 1819 on the
poor-rates, it could never support the inference drawn from it,
that it produced so far an unfavourable result. The next indi-
cation or the evils reSuhing from the Act of 1819, was stated to be
the increase of crime. If crime had increased iu consequence of
that measure, it would no doubt be a very serious something,but
it would not go to prove the every thing asserted by the Hon.
Member for Essex. That Hon. Member referred to three
periods before 1316, and three periods since, and said that in-
crease of crime was only to be referred, to the measure of 1819.
It so happened, however, that two of those periods were during
war, and the other during peace. During the time of peace
there was always an increase of crime ; and it by no means fol-
lowed, because. of the coincidence of such a measure as that of
1919, with a time of peace, that therefore such a measure pro-
duced the increase of crime. He did not deny the increase of
crime since the peace; but he was prepared to shew that in all
intervals of peace crime had multiplied beyond that at which
it stood in a state of war. From 1749 to 1755, five years of
peace, the number of persona committed for capital offences
was 428. From 1756 to 1762, years of war, the number was only
173. In the years 1769, 1761, and 1762, years of war, the
number was 61. In 1763, 1764, and 1765, years of peace, the
number was exactly the same; durini subsequent years of war,
the number was 176; and in 1784, lios, and 1786, the number
increased to 545. In the following four years the number ave-
raged 271. So that from all this it would appear the increase
of crime was referable to a certain dislocation of society, rather
than to any partial measure coincident with a year of peace.—
(Hear, hear !)—lle now came perhaps to the more important
view of the measure of 1819, namely, as to whether it affected
the morality of the country. lie held in his hand a return of
the commitments in 27 counties during the last Assizes of 1821
and 1822, 'and in only fonr did he find an increase of crime—
In 1821 the committals were - 2021
1822 - s - - -, 1607
Shewing a decrease of - - - --414
Now he asked, how far the Bill of 1819 could possibly affect
the morality of the country? The state of the Revenue was
next referred to, and he should briefly advert to the sixty dif-
ferent heads under which it was collected, to shew that despite
the evils prognosticated of the Act of 1819, it had not tended to
lessen its amount; out of the sixty heads, there was only a di-
minution in four, and in all the rest a considerable increase
during 1821-2. During these years, there was no unusual,
rigour in the mode eof collection, and hence he inferred,
that as to former years, there now being an increase, the
measure of 1819 was a benefit, and not an evil to the
country. To prove there was no universal rigour in the
collection of the Excise, he begged leave to state the number
of Excise prosecutions for the last ten years.
In 1817 they were 461 In 1820 they were 229
1818 - 377 I 1821 - - 186
1819 -- - 220
So that in fact, in 1821, there were not half the number 01
prosecutions as in the year 1817. There were besides no addi-
tional prosecutions as to the collection of assessed taxes—not
half the sum was generally expended in Excise prosecutions as
in former years, and these things evidently shewed the revenue
not to be in that dilapidated state in which the lion. Member for
Essex had reported it to be. He (Mr. Peel) now came to the
most difficult part of the subject—the state of the labouring
classes. With all the pains and care which might be expended
on this subject, the improvement to be obtained could be but
imperfect, and no doubt himself like other men might be de-
ceived. But he could assure the House the great value which
he attached to the change of the currency was particularly with
regard to that body. In' fact, the great-collie of the return to
a metallic currency, was to-rescue the-country from the dangers
which might accrue to the labouring manufacturers if that mea-
sure were not carried into effect. The Honourable 'Member
(Mr. Atwood)--referred the House to the distress which per-
vaded Manchesterewhen- the measure of 1819 was resolved upon
_but it should not be forgotten that his measure (as it was
called) was riot.passed until the month of July in that year.—
(Hear, hear, hear !.),—Let it also , he .recolleeted that the paper
standard (for so that Honourable.M.exnber called it) .flourished
in 1812 ; and what was then. he state of. the manufarriares in.
Yorkshire, in Bolton, Lends, Glasgow, aye, and ,even that very

Manchester to which the Honourable Member alluded, as
being so materially affected by the act of 1819 ? He had
made great exertion to discover the effects of the Bill on the
manufacturing towns, and the communications which he had
received had been as follows :—" At Bolton the whole of the
population is in full employ and well provided for; at Roch-
dale the workmen were never better off.—(Hear !)--At Man-
chester the profits of the manufacturer are smaller than they
have been in former periods, but, in consequence of the im-
provement in the currency rendering their risk less, their pro-
fits, though smaller, are more secure. At Leeds there is more
cloth manufactured than there has been for years ; at Glasgow
the profits of the manufactures are low, but the work regular,
and the comforts of the weavers greater than they have been
for some years ; at Huddersfield the profits low, but good
workmen in full employ," &c. That was the result of
the inquiries which he had made. He presented it to the
House as he had received it. It admitted that the profits
of the manufacturer were low, but he would ask, was
it possible that their manufacture would be carried on if
the profits, such as they were, were not, found to be suffi-
cient ? He would therefore utterly deny that the Bill in
question had effected the ruin of the manufacturing classes. He
was anxious, before the House came to the resolution of support-
ing the motion of the Hon. Member, before they ran the risk of
unsettling the standard of the currency, of introducing a state
of uncertainty and perplexity, and of removing from the Bank
every check, that they should be certain that the distress now
complained of by the agriculturists was owing to the resumption
of cash payments, and that it could only be removed by repeal-
ing the Bill which had authorized that resumption. That the
resumption of cash payments had tended in some degree to in-
crease that distress, he was not prepared to deny ; but let them
see whether the same state of things did not exist in countries
where the same causes had not operated, and if such should be
found to be the case, then he hoped that the House would doubt
whether the particular measure complained of had been the cause
of the agricultural distress. In the first place, to revert to
the reduction in the price of agricultural produce : let the
House look to a country which during the whole war had
never varied from a metallic currency, and let them see whe-
ther a fall in prices had not taken place. Let them take Am-
sterdam, for instance, where during the whole war the cur-
rency had never been altered. If they compared the years
1817, 1818, with the year 1822, they would find that the
price of Polish wheat had fallen from 222 to 132 slivers per
quarter. In oats and all other articles of agricultural produce,
the reduction had been equally great. The same remark might
he made on the Low Countries. If Hon. Members would look
back to the petition recently presented to the Chamber of Depu-
ties at the Hague, they would almost imagine drat they were
reading a petition from English agriculturists. Thus in these
countries the same effects had resulted, and yet the same cause,
viz. the alteration of the currency, had not operated. In addition
to the reference which he had already made, he would call the
attention of the House to the evidence of Mr. Jacob before the
Agricultural Committee. Tie stated that in Brunswick and
Saxony the land was in many instances mortgaged ; and that
in Holland, the Netherlands, and France, nothing but com-
plaint was to be heard from the farmer. Yet in none of those
countries had the same cause operated to which some Hon.
Members were disposed to attribute the distress in this eountry.
He had admitted,however, that the resumption of cash payments
had in seine measure increased the distress, and it might have ope-
rated in two ways—first by the variation which it might have
introduced ; and, secondly, by increasing the value of the metal
itself. The operation of the first cause might be easily ascer-
tained by a reference to the course of the exchange ; but the
amount of the second cause no man could determine. To some
degree of fluctuation every metallic currency was subject, and
he thought that to determine the standard by a reference to any
thing but the value of the metals themselves, would be ineffi-
cient and ruinous. It was on those grounds, therefore, that he
had determined-te vote against the motion of the Pion. Mover,
and lie trusted that the House would give him credit for having
redeemed the pledge of brevity with which he had set out.
The question had been generally discussed throughout the
country, and hopes, he believed, had been entertained that it
would be reconsidered. Whilst such an expectation continued,
it could only produce a great derangement in mercantile trans-
actions, and he thought, therefore, that the House could not do
better than to re-affirm the principles on which it had acted in
• 1816 and 1819, and to declare now, in 1822, that it would not
consent to any alteration in the standard value of the country._
(Hear, hear !)
Mr. BROUGHAM rose to give his support to the motion
of. his Hon. Friend. He wished to have a fixed standard, but
lower than it stood at that time. Since 1797, Parliament had
been tampering with the currency, and by a fatal policy had
overturned the standard. The House ought to retrace their
steps, and return to the state of the currency in 1797, when the
depreciation first took place. Mr. Brougham followed Mr. Se-
cretary Peel through some of his detail;, and contended, that
neither the revenue nor the trade of the country were in a state
of prosperity. The increase of the excise was a bad symptom
of the welfare of the country. The agriculturists had no re-
medy but to throw their lands out of cultivation ; and notwith-
standing the apparent low price of provisions, every article
grown by the agriculturist would rise, and the manufacturer
ultimately be the sufferer. Mr. Brougham eulogised the speech
of the Hon. Member (Mr. Atwood), who delivered one of the
most able and learned statements he had ever heard in that
House. Unfortunately many Members came down not to hear
the arguments, or to discuss the subject, but to vote away the
question. They were indifferent upon a question, to which the
whole country was looking with breathless expectation."—
He strongly supported the proposed inquiry.
The Marquis of LONDONDERRY said, he should confine
himself to the statement of a few general principles. The
Hon. Member for Essex had proposed to go into inquiry, not
with a view of asking what' remedy might be necessary, but
whether the standard of the country could be altered. The
object of the Hon. Member, who had certainly stated his
view with candour, was nothing less than the alteration of
the standard, and if that were so, his Right Hon. Friend was
right in proving that no alteration ought to be made. It was
supposed the lion. Member for Essex had turned his mind
to this subject long since' and. it was remarkable that the Hon.
Member did not bring itforward earlier in the Session. If the
Hon. Gentleman's plan were adopted,'no man would be able to
tell on what his past and future contracts were to rest. Upon
propositions like that before the House, it was the duty of
every Member to streak out. The Noble Marquis could not
foresee the extent to which propositions to Parliament were to
be carried. At a recent County Meeting, they found an indi-
vidual going among them, to recommend a Petition praying
Parliament to reduce the delit and interest. This was a specimen
of modern extravagant propositions, and certainly it was not
the time for Parliament to interfere with the standard. Par-
liament had never altered the standard. Every contract has
been made with reference to the standard, and it really wa.
too much to say Parliament had ever departed from its
As the standard of the country then stood no inconve-
nience could arise, but if they altered it, all the objects
of industry would be interrupted, and general confusion
ensue in all public dealings. If the motion were agreed
to, all parties would be in the worst confusion until the ultimate
decision of the Legislature should be known. The return to
the standard had, however, begun before the measure of his
Right Hon. Friend ; and that measure, therefore, might be con-
sidered ratheaas declaratory than alterative of the standard.—
But, at all events, a moment's sanction of the motion would
place the very safety of the State in peril. He trusted, there-
fore, that the House without the slightest hesitation would re-
ject the motion of the Hon. Member, and adopt the amend-
ment of his Right Hon. Friend. The Noble Marquis was
loudly and generally cheered on his conclusion.
Mr. WESTERN then briefly replied. lie would not, he
said, have brought forward this motion had he not been con-
scientiously satisfied of its necessity. It was the state of his
health which had prevented his bringing it forward earlier in
the Session. • •
Strangers were then ordered to withdraw ; and the House di-
vided, when there appeared—
For the ;Notion - - 30
For the Amendment - - 194
Majority against the Motion —164
Adjourned at a Quarter past THREE this Morning.
seesemeneeseaiseesesemeaseess

SPANISH MAlN.—lntelligence from the Spanish
Mail up to the 20th of April is not without
interest. The Royalists are becoming more
feeble ; their levies consist of poor and raw troops,
their best European soldiers having been cut off
by the climate and war. MORALES has appeared
opposite Maracaibo with about 3,000 men, one
half of which were undisciplined. In consequence
of this movement, Gen. CLEMENTI, the Patriot
Chief, declared the city under martial law, and
measures were adopted to resist the Royalists.
The Patriot force in Maracaibo is represented
to consist of three battalions of infantry, a bri-
gade of artillery, and 200 cavalry, under the
command of Colonel de los HELOS ; 500 infantry
had arrived from- Rio de la Bache. Colonel
PENANZO was hourly expected with a force of
2000 infantry and 200 cavalry. It was generally
believed, from all the'dispositions made, and the
reinforcement of troops which had arrived, that
the retreat of MORALES would be cut off.

THE SUN.

SOLEM QUIS DICERE EALSUM AUDEAT

LONDON,
THURSDAY, JUNE 13, 1822.

We received this morning the Paris Papers of
Monday. They contain the Address of the Peers
to the KING, which is simply an echo of his
MAJESTY'S Speech at the opening of the Session :
but the following answer of the KING, in reply
to the Address, communicates the important fact
that no interruption of the general tranquillity is
to be apprehended from Turkey and Russia :

" I am deeply touched by the sentiments which the Chamber
of Peers expresses towards me ; I feel the warmest satisfaction
at its eagerness in answering the call which I made upon it, and
at the unanimous good understanding which bas prevailed in its
deliberations ; it is by this co-operation that we shall succeed in
stifling the efforts of malevoleace, efforts which will be always

ineffectual. It is with sincere pleasure that I announce to the
Chamber that, since the day of the opening
,:,of the Session, 1
have received advices which announce to me that the peace Will
not be interrupted in the East; I feel a lively satisfaction in in-
forming you of this."

There are some articles hi: these papers tend'
ig to strengthen the belief in they Continuance

of peace: but at Vienna fresh ,reports of war

were circulated on the 29th df May, 1$ hich
caused a slight depression of the funds. Letters
from that capital, dated the 3011 r, are of a pacific
character, but allude to the maintenance of
peace between Russia and Turkey in indecisive
terms ; for, notwithstanding the promises of the
REIS-EFFENDI, the principalities of Moldavia and
Wallachia are not yet evacuated.

An article from Constantinople, dated May_ 149.
and inserted in the Journal des &bats, states that
" the soldiers of the Ottoman navy have made an
insurrection against lIELEB EFFENDI, the SuLTAN
favourite, who was charged with liaVing advised
the adoption of pacific measures; That favourite

was however fortunate enough to save his life'
but the particulars of the affair are not known.
His principal offence consisted in having cowl-
',
selled the evacuation of Wallachia and Moldavia•
—A letterof the Ist ult. from Smyrna says that the
French Consul, Mr. DIGEON, who had been sent
by the Capitan Pacha to treat with the Grey ks

intrenched in the mountains of Seio, had stic'
ceeded in his mission, and had returned bring-
ing with him in chains the Simians and other
principal authors of the insurrection, to deliver
them up to the Pacha, who had made that the
condition of his proffered pardon.. The Pacha 113
said to have expressed his gratitude in the roost
flattering terms, and to have presented Mr•
DIGEON with a beautiful horse, as a reward for
the service which he had done hire. He had al-
ready ordered the Catholics made captive to be

set at liberty.
The intelligence from Spain, has been chiefif
anticipated by our previous accounts from Madrid
direct. It is stated that the KING and noYat
Family were to return to Madrid on the 6th of
this month, and that the seditious in the dis-
turbed districts continue to be , routed at everl
point. There is a report that 300 disbanded
Swiss are among the insurgents in the North.
PARIS, JUNE 10.—FREI•ICII FUNDS.—Five per Cent'''.
'opened at 92f. 20 c. ; highest at 92f. 30 c. ; closed at 92f 15 c'
Bank Stock, 1630 f. 1635 f on London : 1 month,
25f. 35 c. ; 3 ditto, 25f. 15 c.—(Coors Authentique,
10. E

Jamaica Papers arrived this morning to the
2lst April. They are void of interest, except
the Columbian General's Proclamation for the
strict blockade of Puerto Cabello, allowing 30
days' notice to all neutral vessels, of which he
has given intimation to our Naval Commander at
Jamaica.

The American sloop of war llornB€ has car
tured, off Cuba, in company with a Spanish
Guineaman, a slave ship with 300 slaves on board'

The latest intelligence from Valparaiso and
Lima, dated in March, place the'cbaracter n9a
conduct of SAN MARTIN in a new and degrading

point of view. It appears that he is a very ara-.
bitious and artful man, and is chiefly zealous t°.
promote the liberation of the country. for his On
advantage. Under the appearance of Protector,
he assumes a kind of monarchical authority'
Ile has secured the military in his late'
rest, and he endeavoured by insidious 01 ealis
ra
!A
to get possession of the fleet, but A-7
COCIIRANE was aware of his intentions ill
time, and put to sea. If the military should re-
main under the influence of SAN MARTI:4Ithe.
people will gain .nothing by the revolution bilt
an'arnbitious despot ; but as the spirit of libertf.
is abroad, it is expected that the soldiery
soon .he animated by the common zeal for lib
viith
and then SAN MARTIN will be dismissed
if hO,
contempt, or suffer the fate of CHRISTOPIIg
Self
does not escape from popular vengeance by
prof
destructione—Thus we have too many ° t
that they who profess to be enemies of trll/11"/
and advocates for the People, are aspiring
magogues, who aim only at the elevation
er,
themselves, and in order to secure their pt".se
would probably be more severe in the exert'
of authority than the Governments they altelliPt
to overthrow.

A KING'S LETTER, we understand, is to
De
issued to the Archbishops for making a c°llecc;
n°°
tion in all Churches in aid of the distress%
Irish ; a proof of Royal benignity which ca
of
but give a new stimulus to the universal spirit °
the,
charity and benevolence so honourable to
community at large.

The immense majority by which Mr.11,6°15.:.
SON'S Amendment on the motion of Mr.WksiO'
was last night carried in the Honse of C0m!116135'
has, we hope, finally terminated all atteniPts t°
rescind Mr. PEEL'S Bill, on the ireund that t: