The Sun.
London, England, 1823-04-29 00:00:00

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T i7E SD AY, APRIL 29, 1823

PARLiAMENT,

HOUSE OF LORDS, Amu, 28.
The Earl of 'GOSFORD presented petitions from several
places hrthe County'of Sitifolk, against the Insolvent Debtors'
Act.--Laid on the table.-
The Marquis of BUTS preened a petition from' the Uni-
tarians of Neath, in the. County of Glamorgan, praying for
some alteration hi the Marriage Act.—Laid on the table.
Sir JAMES GRAHAM, .1.11%. 111.ACKRURNE, and others,
brought up from the Commons several Road Bills, which were
read a first time.
Earl BATHURST presented a petition from certain Indi-
viduals in the neighbonrhood of Cirencester, praying for Pro-
tecting Duties.—Laid.on the table.

LINEN TRADE.
The Marquis of LANSDOWN presented a petition 'front
the Manufacturers concerned in the Linen Trade, in the West
Down District, praying; that the Bill now in progress to repeal
Transit Duties, might not pass into a law.—Laid on the table.

CATHOLICS.

The Marquis of LANSDOWN held a petitipn nume-
rously signed. by. Protestants, Clergymen of the Viocese of
York, praying, that if it were not deemed expedieintlVrepeal
all the Statutes which inflicted disabilities on the Boman Ca-
tholics, their Lordships should at least take them into consi-
deration, and repeal those which they should find might with
safety be abolished. lie repeated,- that the petition was not
only numerously, but most respectably signed. The petition
was then read and laid on the table. ;.
On the motion of Lord CarzrittiOE, a message was or-
dered to be sent to the Commons, to reVtest a copy of the Ile:.
port of their Committee on the ame Laws.

BA NK NOTES.
I Lord KING wished to know whether any thing hail been
done, or was doing by the Bank of England, to improve its
notes in such a manner as to prevent forgeries. Great pains
had been taken in the North of England, to attain that object,
whilst nothing seemed to have been done by the Bank of
England.
The Earl of LIVERPOOL reminded the Noble Lord, that
several years ago, a Commission had been formed to inquire
whether any, or what means could be found to render Bank
note forgeries more difficult, if not impracticable. The Bank
had shewn itself disposed to go to any expense. It had listened
to every suggestion, and consulted every authority, and after
long and unremitting labours, the object was thought to hasp
been attained. A note was produced, which it was conceive
would be effectual, but it had.no sooner been finished, than in
94 hours after, another Artist had. presented an exact copy.—
Unless it wero.possible m substitute a. very great improvement
now that the one and twtypound.notes were out of circulation,
the five pound and other notes of the Bank were as difficult to
imitate as any others.
Lord KING contended that compare I with the notes of the
North of England and of Scotland, those of the Bank were a
most bungling performtnce. They could be copyed by any
one, whist it would at least require a most skilful artist to imi-
tate the former.
ARMY AND NAVY PENSIONS.
The Earl of LIVERPOOL, having moved for the thifd read-
ing of the army and navy pensions Bill,
Lord KING observed, that the Noble Earl must have con-
sidered that Bill very perfect, since he had suffered it to reach
its last stage without saying a vont about the subject. He
(Lord K.) looked upon it as a most foolish measure, under
every point of view. What could be more foolish than to make
a bargani of that kind for five years with the Bank, at a time
when the funds were low, and his Majesty's Ministers knew
that they must rise, as soon as they should reveal their inten-
tion of „remaining neutral in the contest between France and
Spain. Even had the negociations terminated in war, such an
arrangement-with the Bank would have pre-occupied its re,
sources and prevented itirom being able to give his Majesty's
Government the aid which might have been required. But
foolish as it was, they had not even done justice to their own
OA. For since, according to them, it increased the revenue
Of 'the country, they ought to have pushed it much farther.—
,What they had omitted to do, he would now endeavour m Whereas,"totoper-
nu, and should move that after the word the
following be insertuti t " and as the present generation and
posterity may derive great bene.fit from thin measure, and the
establishment of a sinking fund, counterbalanced by loans, be
it enacted,---That the Lords Commissioners of the 'Treasury
may have power, in order to incrwse the revenue, to raise from
the Bank any sum not exceeding- ten millions a-year, for the
time of an hundred years, to be repaid by a deferred Stock."__
(Laughter.)
The amendment having been put and negatived,
Lord BEXLEY defended the Bill.. It might he unfair to
throw any burden upon posterity, if we had not borne one of
so much weight ourselves. But if, whilst we relieved the pre-
sent generation of two millions and an half of taxes, we placed
something on the shoulders of posterity, we also begneathed to
her a peace procured by our ascendancy in arms and councils,
compensatewhieh, he e trfuosrtedh
e,r
cwhontrighel s last long enough to repay her, and
The Noble Lord then contended.
that the bargain had been concluded on the mostfavouratile
terms possible. •
Lord ELLENBOROUGH could notheip believing that the
Bank had completely overreached the Noble Lord in the ar-
rangement which had been concluded. That Noble Lord, in
one part of his speech, had hoped that the peace gained by our .
ascendancy in arms and councils would be of long duration, but
in another he had seemed to doubt its subsistinr, two years
longer. The House accustomed to, hear contradictory state-
ments from the Treasury Bench, but this was a more complete
contradiction than he had ever heard.
The Earl of LIVERPOOL said, that as to the question of
war, a country should not be rash or hasty in embarking in it;
but that when it lied once embarked, it ought to follow up its
resolution with decisive measures. With respect to the present
arrangement with the, Bank, the terms were the same as those
offered last year, and the account had been taken, not from the
price of the day, as the stock was closed at the tune, but from
an antecedent price. Ile thought it would be found that in
time of peace four per cent. was a pretty fair average of interest
for money.
The Marquis of LANSDOWN contended that the present
case was one of those in which a bargain could not possibly be
beneficial to both parties. llnlesa 3linisters therefore could
show that they had over-reached the Bank, and made it agree
to an arrangement productive of loss to itself, the loss must
necessarily be on the side of the country. For it wits clear,
that any profits which the Bank might derive from the arrange-
ment, must have been enjoyed by the country if die bargain
had not been concluded. !hit the chief objection to the mea-
sure was, that coupled with the Sinking Fund, it did with one
hand, what was undone with the other, and occasioned loss to
the public in both operations.
The Bill was then read a third time and passed.
The Revenue Departments Consolidation Bill went through
a Committee and was reported.--Adjourned.