The Sun.
London, England, 1803-12-14 00:00:00

the contingency' of ihdividual preservation .was •
to be at ended to—rWoulsi- it, in such a view,
he prudetit,'' for instance, in' the case of the
'Volunteer who should march out to, meet the In.
vaders of hit ,Country, to leaee
,the existence of
his wife and children dependant pdasibly upon the
. paper of a bark, the very couoting.hotrse of Which
may be .in thectottody of the Enemy's ,troops With
reaped to the mode of ohviating such an evil, if
evil it could be called, he knew but of two ways,
liothatirible in the contemplation, and fatal in their
effeCti : the first was by means of a riot, and the
second was by a mecies of Legislative interposition.
With regard to:the latter expedient, but two in..
stances which he knew of occurred in History : the
one was on the occasion of the famous Mississippi
Scheme, and the -other one of more recent date,
in the well.known affair of Assignats, in which
I it was attempted by Law •to fix the greatest
amount of Specie which individuals should
retain in their possession. The necessary and
immediate consequences of .such measures were,
to depreciate in a great Sand inconceivable degree
the value of the Paper currency which it was meant
•to raise and secure. That the evils he had alluded
to were in an alarming degree of existence, no man
could possibly doubt. He felt himself called upon;
so strongly did these considerations press open his
mind, to endeaviant to attract the attention, not only
of those who heard him, hut of those who did not
hear him, to the existing state of the Country in
those respells. It was neither wise, politic or.manly
to avert ineir eyes from the real stateof Public and
Private Credit, as well art of the Circulation of the
Country. On the contrary,. it was the bounden
duty of His Majesty's GoVernMerit and thetegisla.
sure to take these premises into their serious consi.
aeration, and to endeavour by every justifiable and
pradicable means to avert the evils which; to a ter.
' tam degree, were doubtless impending.: What he
had intended to propose, as leading to a remedy,
was the appointment' of a joint ComMittee of
both Houses of Parliament, or. a separate one
from each House, if such a mode._ should he pre.
ferred, for the purpose of taking the subjed -into
consideration, but, it now being so near the eve
of a Recess, such a motion on his part may be con.
sidered, in some points as injurious, and in others,
as inconsistent with the dignity and importance of
the subjetl, he was induced to decline it in the pre.
sent 'instance. He could not,' however, suffer the
occasion.to slip without earnestly pressing the mea.
Sure on the attention..of His Majesty's Ministers,
and expressing his hope, that such a proposition
would be carried into effect speedily after, the Re.
cess. He was Terfettly aware of, many difficulties
which such Committees would have to' encounter,
when he considered the peculiar, important, and
complicated nature of the sohjeft they had,to invest'.
gate : he spoke on these points with the greatest diffi-
dence and personal distrust, not being lat ely in the ha.
bits of investigating such topics---,perhaps the Com.
mitten might experience various difficulties, other
than those in his contemplation. Of those points
those who composed His Majesty's Government
were at present better qualified to judge---one -
great object of such investigations sliould be to en.
dcavour, as far as was safe ano pradicable, to restore
the Circulation of the Country to its ordinary and
salutary courieSuppose for occasional intervals
the restrietion was ;ken off the Bank, with a pro-
visionary poWer of immediately laying. it on should
occasion, or the exigency of the moment, require.
This objeCt, they would of course, endeavour. to'
attain gradually, and avoid as much as posiibie all
sudden .changes.—The GubjeCts of Enquiry would
be equally- extensive, various, and important
—the state of private credit, and :quantity of,
paper of that description, in circulation, would
necessarily' engage their atteotion, and means
he considered of securing the credit of .such houses
of stability and provable solvency, as may be
so circumstanced as to require it. These, among
other considerations, should engage the attention
of the 'Committees, and above all,. their endea.
yours should be direeted to avert the effefts of such
shocks, as public and private credit may be liable to
in the event of menaces of the Invasion being car.
tied into tan in a certain degree. After dwelling
at much length, and with great ability, on these
important considerations, his Lordship concluded,
that he should bring forward no motion it present
on the occasion, contenting' himself with having
earnestly called the attention of Ministers and the
House to the subjeft, anti again expressing his hope
that the earliest pra6ticable opportunity would be
taken for endeavouring ,to carry his suggestions into'
eifett.

Lard 11,411110ESBURY rose, and in consequence
of what had fallen from the Noble Lord' who had
just sat dawn, observed, that it was. unnecessary,
from the nature of the case, to take up th 4 time of
the House in following the Noble Lord at any
length. In the first instance, it was scarcely neces.
sary to say a word in justification of the measure
regularly under the consideration of their' Lord.
ships, as its necessity had been fully and candidly
'admitted by the Noble Lord. He agreed with him
in a great deal of what he had advanced, abstratted.
ly speaking, or considering the points theoretically,
he 'could offer little or no objedion io them. lie Was
perfrftly aware that measures such as that before the
House should be regarded' with a degree of jealousy,
or that the necessity which justified their adoption
should be eitherestablished, or rest upon,grounds of
adequate notoriety. He agreed with the Noble
Lord under the views Which he hail stated, in what
hail fallen from him respecting the principle of non.
interference, as laid down and admitted by the must
profound Statesmen, or the ablest writers who had
treated of the subjects alluded to. Butt at the'same
time, he must express his feeling of surprise at hear.
ing a great deal of what had been said, come from
one who had avowedly been the. Promoter and Ad.
vacate 'of Measures of Restridion, ' The general
subject was one which had attraded a considerable,
share of the consideration of His Majesty's Go..
vernment, but in sdying this, lie Inuit be understood
as, not in the least implicated in referentle to any
lenticular measure of the proceeding. There were
however some points advanced by the Noble Lard
respeeting2witich, he widely differed kora him. He
could ti'y nti means subscribe to the idea, that the
immense issues of Paper ivhleh had been so much
dwelt upon,' were its consequence ref she .