The Sun.
London, England, 1812-06-27 00:00:00

EXCHEQUER BILLS.

- -
The Rouse went into a Committee On the Com-
luereial Exchequer Bills Act.
4, The CHANCELLOR of the EXCHEQUEit observed,
"lat When the measure Was originally brought
'tinder the consideration of. the House, great
;10ubts had existed whether the payments would
fq realised by the time specified. Notwithstand-
,ling the delay which, had taken place,
,he was hap-
-15 to inforni the Committee, that' about one-half
of the-Loan had been discharged. But representa-
ti6Os.had been made to him, thatit would be ne-
ce3sry to give the Commercial Body relief, by
there
the time for the remaining payments.
."ere was sufficient evidence before him to sa-
tlsfy the Government, that the Manufacturers bad
tll extraordinary stock of goods upon hand, and
h lit therefore it was desirable to afford them as.-
:.Istance, in order that they might not be enabled
;13 get rid of their stock, and discharge their oh-
Pgations to the Public. • He should' proliose, to
extend the time for making their payments six
months longer: At present the Committee were
haware, that in July another instalment would be
ue.,i and that in October the hitt payment would
p"e. Of 1,500,000/. betiveen 6 and 700,0001.
ad been paid. The sum remaining due, it was
itir"Po,sed to tlivide.into three, instead of two pay-
.. He therefore moved fOr leave 'to bring in
8 "1f ts
or extending tlie.time for the payments of a
"1..61- 1,500,0001. advanced by way of Loan, &c.
„
'Ir:" Alderman tomaE- stated, as one of the
it.(3lrlniissioners, that all possible means had been
'l,!e? to investigate the circumstances attendin
c delay in making good the payments; arid the'
s „ "eoey of the sureties for the monies thus ad-
i;i"d, and he found, that owing to the situation
eh trade,. no blame was to lie imputed to
:tilt Mer-.
ants aoliManufaciiircrs. '
favour
JAMES GRAHAM made a few observations in
of the motion.
- WHITBREAD thought that as his Hon.
bad stated that all due care had been taken

-P''''

to investigate the cireumstanzes of the borrowers,
and no blame was ascribable to them for the non-
payment of their instahnent:s, time should be.
given. Ile hoped, however, the Right Hon.
Gentleman (Mr. Vansittart) would state to the
Committee who the persons were, that now were
under the necessity of applying for assistance,
what security had been given, and what mea-
sures taken for obtaining re-payment of the sums
advanced.

The CHANCELLOR of the EXCHEQUER replied,
that there was every reason to suppose, that
though the instalments could not be repaid in
July, those Who received assistance might be
enabled to make good their payments in January.
Thedpening of the American Trade would . give
them an opportunity of getting rid of:their stock
on hand. With respect to the sureties, 6Ovpro-.
meat; under all the circumstances, had' not
thought it right to call on them for payment of
their bonds, conceiving that it would be more
advisable to afford the principals a little more in-
dulgence.

Mr. WHITBREAD wished to know whether the
Right Hon. Gentleman meant that the persons
who were relieved were principally engaged in
the American trade, because, if so, certainly
that circumstance afforded fresh ground - for in-
dulgence ; if not, the hope which was entertained
of the benefits to trade, generally from the re-
vocation of the Orders in Council, was hut a,
slender one. If the defaulters were engaged in
any other trade than the American trade, the re-
vocation of, the Orders in Council would not
open an immediate market for them, so as to
etrable them te pay in Januaiy what they could.
not pay in July.
_ _ _

Tile CHANCELLOR Of the EXCHEQUER had to
inform the Honourable Gentleman and the Coin-
mittee, that very considerable sums had been ad-
vanced to the American traders. Certainly not
the 'whole, Vitt a great part of the sum agreed to
be issued.

Mr. 'WHITBREAD allied, if lie was to understand
that the monies were principally advanced to the
American merchants, and therefore that the in-
dulgence now claimed was not to be considered in
a general point of view ?
The CHANCELLOR Of the EXCHEQUER replied,
that the indulgence, had been granted at the direc-
tion of the Commissioners; that in some instances
all the money advanced had been paid—in others
only some of the instalments.

Sir. LOCKHART wished to know whether the
whole of the Loan of 1805 had been repaid ?
The CHANCELLOR of the EXCHEQUER replied.
in the affirmative, with the exception of about
10,0001.

The Resolution was agreed to; the Report re-
ceived, and leave was given to bring in the Bill.
The Distillery Amendment Bill, and the Starch
Bill, were postponed till Monday.
• The Report of the Publicans Bill was post-
poned till Tuesday. •
The Muriatic. Acid Bill was read-a second time,
lard committed for to-morrow.