The Sun.
London, England, 1847-12-15 00:00:00

minently before the Committee. So with respect to
this Committee, he was quite sure there would be no
indisposition to examine witnesses cr receive deputations
from any class who were anxious to be represented, and
he thought it would be much better to rely upon the ma-
chinery of evidence than to make the Committee practi-
cally inoperative by uselessly augmentingits number. Al-
though every class might not be directly represented
every shade of opinion was, and he had no doubt Henn
Members who composed the Committee would take care
to see that their views and opinions were properly
investigated. First, he had placed upon the Committee
three members of the present Cabinet, whose especial
duty it was to attend to the financial department of the
Government, and yet the Noble Lord, the Member for
L) nn, proposed that one of these should be struck out.
Again he had placed three members of the late Govern-
ment on the Committee, namely, Sir Robert Peel, Sir
James Graham, and Mr. Goulburn, who were also
members of the Committee of 1840, and these names could
not possibly be objected to. Next on the list were the
names of Lord G.Bentinck, Mr. Disraeli, and Mr. Herries,
and he confessed he did not think any body could find
fault with these selections, for here they had represented
the Government present,the Government past, and the
Government in future.—(Hear, hear, and laughter.)
The Right Honourable Gentleman then proceeded to
show that his other selections had been made from
Members who had represented every shade of opinion,
from those who were for and against the Bill of 1844--
from those who were for a mixed standard of Talus--
from those who were for the re-issue of one-pound notes
—from those who were for free trade in bullion—front
those who were connected with manufacture and trade--
and from those who were connected with D3oll'
Scotch, and Irish banking establishments. In fact, ne
said it was hardly possible to have selected a Committee
that could present a greater variety of opinie°
than the one ho now proposed to nominate.
The Hon. Gentleman then read the names of those
Members who were in favour, and those who were
against the Bill of 1844. Six of the gentlemen norai.
nated had not given their opinion. As the list stood,
seven Members were favourable to the views of the Noble
Lord (Lord George Bentinck), five were pledged to the,
Bill, and fourteen against it.—(Hear.) This showen
that he wished to have the mercantile community fairly
represented on the Committee—that he did not wish to
have it packed.—(Hear, hear.) It would be useless
to the public if gentlemen of such experience as hlr'
Hume and Mr. Herries declined to serve. The expert'
mace they had had fitted them for such an inveetigatioln
He should have no objection to see Mr. Hume in that
Committee; but he thought -Mr. Herries the better Men
ber, because he fairly represented the opinions of the
mercantile world respecting Scotch banks of issue. They,
had, however, a fair claim to be on that Committee; and
he trusted one of them would serve. He should resist
any alteration in the Committee, except the substitution
of another Hon. Member in the place of Mr. Hume. }le
considered, that in nominating the Committee as he bad
done, he had selected those Members who would do the
public essential serviee.—(Hear, hear.)
Mr. DRUMMOND did not think that they would
derive any relief from the report of the Committee It;
question.—(Hear, hear.) What did the House .want?
Did it wish to get rid of the dull and uninteresting
debates by shutting up those Members who spoke ups
the question in a small committee-room up stairs
(Laughter.) That was not the proper way to legislate.
—(Hear.) They should first understand the A BC,ef
their inquiry, and not enter, as it appeared to him toe/
would, into a mass of uncertain investigation. Unless
the Committee were unanimous in the principles of their
investigation their labours would prove abortive. The
present was a day of expansion. The old foot-rule viola
no doubt be declared insufficient to m easure the number am',
length of railways to be made, and our trade being ne
longer confined to home, these persons might say that
they should use expansive vessels, and convey their
commodities in expansive ships.—(Laughter.) What
they wanted was a measure of fixed value,
which he
contended they pessessed, because gold, in its didifferentparts, was stamped of a certain value, and -was received
in commercial transactions at the specified value. Se,
measure which they could enact would prevent periodical
crises. When the funds were low, and over-trading
prevalent, commercial crises would almost inevitably
f'ol low.
Mr. OSBORNE replied to the question of the
Honourable Member. What did the House want ?
The House was about to enact a scene, ,
his opinion, from Much Ado about IVothin9.
The whole burden of that Right Hon. Baronet's speech
(Sir R. Peel) was this—that after the Committ"a
which had been appointed it was unnecessary to ap-
point another. He said fifteen thousand questions were
asked in these former Committees, and what more did
they want? But, if any one came to look-at them,
would find that the replies of Mr. Jones Loyd were
mote like essays, and might be published as such sepa"
rately, than as replies to terse and definite queriee.—
se
(Laughter.) Now, it appeared to him that the House
were going to shelve the question.—(Hear, -bear.) • The
commercial classes, instead of obtaining any immediate
remedy, would have their prayers put off, and the
Committee would no doubt report in about
two years, when their labours would be valueless.
—(Hear, hear.) He regretted now that he had
voted with the Right Hon. Baronet (Sir Robert Peel)--.
he was so taken away with his able speecli,"that he
could have followed him anywhere.—(Laughter.) But
the next morning—(Laughter)—when he looked at his
views with calm deliberation, he regretted that he had
not followed the Noble Lord (Lord George Bentinck)
into the lobby, because he believed that he should have
adopted the proper course. He considered that they
should have a Committee composed of independent
Members—of those who had not expressed anrsenti-
ments on the question of currency. They• should have
those who had not read any currency pamphlets, he'
cause they might depend upon it that their time
would be occupied in currency controversies.—(Hear-)
He should prefer Mr. Reynolds (Dublin) to Mr. Hume,
though he entertained great respect for the ability of
the latter lion. Gentleman. He said this because the
Hon. Gentleman had told him that the labours of the
Committee would be futile, for it was rnerell
shelving the question—(Hear, hear)—from the Howie'
He should support the name of Mr. Reynolds, if they
went to a division.
Mr. NEWDEGATE supported the names proposed by
his Hon. Friend (Lord G. Bentinck). He did go bed.
cause they would obtain men practically acquainted
with the working of the measure complained of ; they
would have practical men, and not mere theorists- fir'
Muntz, Mr. Reynolds, and Mr. Brown were largely
engaged in home and colonial trade, and were
therefore fit gentlemen to constitute the lartne.
gral portion of such a tribunal as the one
,Frd,
posed. The exclusive use of gold as their stallun"„f
almost to the exclusion of silver, was the great cans errs
the commercial depression. Let the Committee rep°
upon this point. He told the Government thet,.
though they might stop the discussion of the matter in
the House by the appointment of a Committee, tbel
would not stifle extensive discussion out of doors.
Lord G. BENTINCIC rose to draw back the atten:
tion of the House to the real matter of the debate,
He would confine himself to the names he had proposedid
and though their might be several additions he shot
,in
not again address them. He assured the Honourald
Members, the exclusion of whose names in.
had proposed, that he did so without
„t,
tending to cast upon them any personal disrespect'
The limitation of the Committee to 26 reduced biol „
the invidious necessity of proposing their exchistn".
,
He had proposed the names of several gentleman iii
order to render the Committee more likely to w 7
ti
greater good than as originally proposed." Be propo
.e"
Mr. Ilastie in the room of Mr. Labouchere, because le_
thought that ho would better represent a certain section
of the commercial community. The same might be sell,.
by him with respect to the others. He thought that
as the Noble Lord (Lord J. Russell)
was pledged to the
measure, and as Sir W. Clay had written a book en the
question, it would be better to have the City of London
represented by Mr. Pattison.—(Hear, hear.) From the
way in which the Right Hotmaßaronet (Sir R. Peel)
supported the Government in fact it might
almost be said that he was the Government—it seemed
as if he had dictated the letter sent by the Government
to the Bank.—(llear, hear.) The House wished, 11°
doubt, to see new blood in a Committee of this kind:"
(Hear.) It was because he did not think that the gen;
tlemen proposed were likely to come to an unprejudiced
opinion that he proposed substitutes for some of theni:
—(Cheers.) Let the House recollect that it was n°;
until houses had failed for 15,000,0001. that
the Government consented to suspend the Act.
Those whom he proposed were independent
t].
men, and likely to come to an unprejudiced opitti,ehn
He thought that Mr. Brown would better represent 1-r
sentiments of Liverpool than Mr. Cardwell. The formes
gentleman, in a recent deputation on the subject of coos'
mercial distress, did the ornamental work, whilst ;7t
latter performed the most laborious and arduous part 0`
,ii
and was, in his opinion, a gentleman who would more fir,'
represent the sentiments of the cotton lords than t°
lion. and Learned Gentleman.—(Hear.) Let them ~."
collect that Mr. Brown differed with him ; in feet be
t
had proposed but one gentleman who acted in cottrast
;
with him. Then, with respect to Scotland, the 'g
Honourable Gentleman said he had named
(Mr. li. Drummond), and he did not object to him. The
,el
Chancellor'of the Exchequer had said that he hadconstul.
all sorts of persons on the subject, and all they requested
of him was, to give them the light of his countenan.
Honourable Gentleman the Member for Perths.
The means of staying the panic had been adopte9,re
consequence of the representations of the bankers of. tt,.
City of London, and he thought that it was but !ago!
that one of the Hon. Members connected with tb
City of London should be placed on the Committee'
li
With respect to the appointment of the on. Member
for Oxford (Mr. Henle} ) in the room of Mr. Ricardo,
he thought that change ought to be made. The Hon'
Member for Stoke-upon-Trent (Mr. Ricardo) was a
consider
that by profession, and he did not
that that profession was one which could be considered
as connected with the commercial institutions of the
country ; that he also possessed, by almost hereditary
right, very strong opinions upon the subject of the
rency. In the room of Mr. Ricardo he proposed' ,
therefore, to insert the name of Mr. Henley, who au

opposed the Bank Charter Act.
(LEFT SITTING

DIED.
On the Bth inst., at Kinmel-park, St. Asaph, the Right
lion. Frances Margaret Baroness Gardner.
On the 30th ult., in St. John's-wood.road, Sebastian Nob'
Esq., aged 69.
On the 2d inst., in Manor-street, Clapham, Mrs. 11011
Fry, aged 68.
On the 6th inst., at Paris, Mn.s Marsh, widow of Tho Mas
Coxhead, Marsh, sq.

London: Printed and Published by MURDO Y017.1‘3e, 11,fr
No. 112, Strand, Printer, at The Sun Office, No.
Strand, in the Precinct of the Savoy, in the ceautY
Middlesex, Wednesday, December 15, 1847.