The Sun.
London, England, 1803-02-12 00:00:00

. 40.-1;!
Ait *filch was then passed, the IVliittas
crd sitd -tctibe 'assembled t w ice in each Year,to. lit
exet*iscri for 14.,, days! each `time, or once,for 28
dayi. This system #as fou4d 'perfeßly: well cal.
4:Plated to answer, die purpose which it was
intended, and during the American War, the,
'Militia were found ready and fit for service.,---
After
.the.conelusion of .rile .American War,. when
the country was eXhaustt%i byso long and expensive
a contest, for two or 'three ylars the Militia Were
'suffered to remain wichout aily new arrarigemenr,
anti in kit (.1 of t,tate of uncertainty;; they, Were
not even callednut to exercise. It was then thought
necessary to reeorv,ider, the subjeEt, and to make
some ;dr ci ,t,in but its e.con(liny was then ari ob.-
' j,;.:Ct'pecOlizaly to l desired, the following altera.
'lion was tncn proposed. The whole of the Mili-
tia, atn;')Uri t log to '3 f;tieio men, were not to be
,called-Out every-year,' but.imly two.:thirds-of them,
the other ridid neither •receiviti:! pay nor cloathing.
In this situation the suijeCt rewained till the break-
ing oth of the late War. When other , alterations
took place upon the restoration cif Peace, 'Ministers
tb,Aught it. right to .}silt it upon,,a good footing, and
to unite the laws into One system, in order that they
might bet-Imre clearanddktinn; the Militia was then
augmented ,t 040,000 men ; and it was ordered that
they should be: exereised puce in the.course of each
year. But as this Bill incurred a considerable`ex-
pence beyond that which was incurred before, it wfas,
thought if they were, exercised for twenty.one day&
re, li y'fear, it wdulti be sufficient,' and that a coml..
der,lhle s:iving would be effeCted by suChli reduc,
lion of the time. It had, however, been thought
.:ince, by pesSoni the best enable&to form a judg.
'Pent upon the subjeCti: that. in points of this kind,
economy ought not solely to be looked to, and that
it would he necessary to exercise the-Militia for:
twenty-eight days. kle should therefore propose to
bring in it Bilk() make an alteration to that effect, and
he was happy to state, that it would not be attended
with any considerable expellee, in consequence of
the ei-onomical arrangements which had been intro.
duced. Ihe expence under; the present plan was
about 200,0001. a.year. The additional expellee
'whdich woßld be incurred'
.by the adoption of the
alteration he now proposed, ',would riot exceed
18,0001. :_year. He concluded with moving fur
leave to bring in a Bill to increase the period for
which the Militia were to be called out to exer.
ci,fy from :21 ro each 'ear.
Leave was given to bring, in the Bill.
BANK 1;.!!,,'[. r crioN PI LI
The 'CItAiN cait on of the EkciiF.o R moved
the Order of the Day for going into a Committee
on the Bill.
The ArTOR (;ENP,R4L rose to move it
as an instruction to the Comtriittee; that &fey should
hqve power to alter the Bill in one particular.—L
Some difficulties had arien in the Courts of Justiceupon'the ;clause hi the TM:Mei-Bill, respaling ten.
ders being.rnade in Bank i' oter, on account of the
i 'tender ; I
impossi,Lity:o.
Notes,: of it d(!ht iii t::1 there was a fraction of a
pound ; the ami:odwent he meant to propose was,
that-where a applied to lie discharged upon,
common bail, he should make an affidavit of .his
havitig tent-let/A the ainuunt cif the debt.—',lhe
Lion was agreed to. .
The Howe then resolved itself into'a Comitit
'li. P. ALEXA'NHieIt in the Chair. '
The CII4NCELLOR of thee EXCREQUER
Said, there Was in the Bill a clause to enable Par-
liament to repeal Or alter it doling- the present Ses.
he nosy proposed to fill up the blank
six weeksnkwithre.
gard to its duration, with these words, "
after the catiltnencement of the next Session of Par.
!lament."

. A r. BANKES said, he rose to suggest the pro.
pricty of proposing a shorter dtiration for the Bill,
and in doing so, he begged not to be understood as
entertaining an opinion that the Bank Otight now to
resume its cash payments, nor did he mean to say
that the, Right Hon. gentleman's Motion might not,
tipori investigation, be pettedly proper; but the
ground of his complaint was, that there had not. been
sufficient ground laid befote the House to. enable
them to decide upOn the question. He confessed
that he was in a state of uncertainty upon that sub.
fed,, and-,tiohe suppmed •were.other Members who
had not better barons of informaticin than
In it 'subjed of 'so serious a nature as that Which
thcy were now discussing, the -House Otight. to
p,miQ before they. placed the Bank in such an
unnatural situation, without having the leaSt,'evi.
dt:nee that .could be olitained:."upon the subje!t.
In calling for inquiry and information he was not
asking tor, any thing new, and singtilar ; because,
when the measure Was first proposed, it was sub-
mitred to the previou-s.consideration of a Commitee.
It was not thought that the secrecy of the afEtirs'of
the Bank ought to, prevent them being hid before:
the Haase. But that was not all: in the same year,
when the measure of the Restridion was continued,
another inquiry tuck place, and another report was
Made to the House. These inquities were'attended
with the twist beneficia)•ea.eets with regard to the
public 4redit .of the country. Ile knew that the
'Reports. to, which lie liad alluded had, given great
satisfaction to the people of this country, with re-
gard to the situation of the Bank and its )olitli4y ;
and had prevnted that alarm, which would ether-
ivise hare been excited under such circumstances.
After the kestridion
,had been. laid on, the events
of the War, the alarm ut invasion and other cir.
,cutristances rendered it obvioiti that theßcstriaion
cdt*d. not be taken ofF during the War; and there-
fOri as long,as that lasted, it 'never was contended
that any fresh
,matter ought to be laid before the
Bottse. But it was expedesl, chat on Elie restoration
of Peace the'payments in Ca'SA',St'the.eßank would be
resumed, and that things would go on in their Usual
channel. 6.t the conclusion of PeaCt 110WeVer; tht
course ofd wakunfavourable to thiscountry,
and there were some other circumstances- which
rendered it at. that moment unadvisdhle> to take
off the Restridian ;, and undoubtedly if the cash_
payments bad then been resumed, the country
would in a great degree have been drained of its
Specie. No "objetilion WEI therefore rnade to ;be
last Bill for
_renewtng the Rest: it-lion. We were.
noes, however, come io a time ws:en the ct,uise of
Exelynge'was Ito lot'tger unfavotirable to tliii,Coun.
try, acid the kionst 'bad lit;tril with pie:v;(lre di
flauering stei,ienient had been made by the

r!.kit'At,retit.Lok of the ExCITEQUEtc of the. state of
r -our Commerce. -anti Finances. ,-Coulkitjoe-,said,
''that under suCh*iteurnritattees there was ariy danger
of money going rant of. the'COuntry if the Restric-
tion were taken off ? not say Orat,Parlitn.
::Inent ought to dire& the Bank immediately to re.
:stone its payments in cash ; hut he contended that
_there ought to. be an inquiry, and some information,
laid before the House; before they continued the Re.
strilion for so long a period. There had been but
two reasons assigned fin the present measure, 'the'
one was, that the Course of Exchange was not
favotir of thii Country ; and the :other that there
was a great nurnber of 'Oman' Notes. in ciretdation,
.:both of the, Bank of England, and of Country
Banks:. With respel to the Course of Exchange
he had already offered some observations to the
flousi. With regard to the quantity of small
Notes in circulations, he begged to ask, whether
that objection would 'not always 'continue until •
the Restridion was taken off, because ,until
cash was. put into circulation, its place must be
supplied by paper. During the time that the Re_
stridion had subsisted, the Exchange had been some_. tithes favoUrible and sometimes tinfavoOrAble to this
Country. Blithe begged the Committee to consi-
der what sort of a precedent they would give to
future-times, if they were to say that upon 'such,.
grounds as these the Cash Payments of the Bank,
were to be suspended, without inquiry or investi.;
gation. He confessed that it was with great plea-
sure that he heard his Right Elan. Friend say, that
he felt great reluttance in bringing on Ibis mea-
sure, beeause it was only by reverting to Our old
made that a solid system could be established, to
which this Country, coulddook lot-prosperity. In,
the course of the, former discussion upon this sob-!.
jest, something, but very little, was said about'
political considerations.;—but -the inquiry whiCh rte
Wished to institute would not tend to discover any
circumstances of that kind which it would not be
proper to commonicate 'to the House. If hrs.
Right Honourable Friend were to stare, that
there were . circumstances of. a political nature
which, in his opinion, tendered this •measure neces-
sary, he should have perfect confidence in that de.
claration, and would certainly acoeiesce in the mea-
sure. Another objedion that had'been stated; was,
that the appointMent of a Committee would create
alarm, but, he confessed, he. 'could not see .tbardic
,appointmtrit of a Committee to it',Ou:re into the sob_:
left, could possibly. create any alarm. :fie really;
believed that the Baok' heyer stot:)(1 higher iti point.
.of credit, than it did when the Rcport, to which he
-alluded, was made, because it convinced the People
of the solidity and wealth piffle Wok. , He had no.
doubt but that • the Gentlemen entrusted with, the:
diredion of the 4ank, had discharged the trust re-:
posed in them; with the greatest ability and pre...
piety, hut the. Country had a, tight to know how
'the fa& was; they had a right to know whether,
exertions had been made to place the Bank in a;
situation to resuthe its payments whenever .Parlia-,
merit , 'should, think it /right to' take off the
w striation. Ile as the more anxious upon this
subject, because it' was obvious chat what theyi.
.were now doing, would form a precedent for
future times, because it was obvious that het
after, in times' of, trouble and danger, caLlt
payments, at the Paolo would be St.E'ip.,:ntred, thew.
fore' it was very important that shey should
not afford a precedent of takiog, such an important
step'Without due deliberation. and information fur
if such a measure as this once beeame a matter of
iodifferenee, and was resorted to without the most
convincing. grounds, the credit of, the COuntry would
be lost. : There were other dangers that might to
suit feiith the adOption of a measure of this kind, of
which though he had no apprehension at present,
yet it was right to be goarded .agaiost •In future.
If the Government and the 13ank were to agree to.
gerher, to keep up the Restriction longvr than was
necessary, a fictitious Capital might be: cteated to
an almost unlimitediextent, which would-undoubted.
ly endanger, if not destroY the Public Credit, He.
begged to be understood. that he was stating this
merely as 'a possible case in Suitire times; because he
had not the slightest idea that to y' of HIS Majesty's
ptesent,Ministers,.or the Gentlemen entrusted with
the direction of the affairs of the Hank, svoukl bepar-
ties in an affair Of this kind but he must again repeat,
that !what they were now doing, would he quoted
sty a precedent in future' times; • and therelnre they
ought to proceed in the most guarded'and cautious
manner,: With respect to the inquiry which he
Wished to liave inStitlated, be • confessed he should
nat'be sorry. if' it was iodide Upon very enlarged
scale, and embraced not merely the subjed.in.ques-
tion, but, the ~State of our Trade. kit Was aware
that such 'an inquiry could not be instituted upon the
Pres:Olt, oPcaSton, because. there wits not sufficient
time for ir. He therefore should !mitre, 'that the
Bill now proposed should continn;: .to the first of
May, instead of the time which had been suggested
by his Right Hon. Ftiend. In the mean time an
inquiry might be instituted, evetiopon the enlarged
scale which he had StigpstO, ;There was 'one ob.
nervation made in a former debate, ta which he bad
forgotten. to allude', and. that Was, that there was
no inquiry instituted when the Bank. Charter was
renewed ; but he really saw no connection between
the two aubjeets... The 'renewal of 'the Bank Chat..
ter was a mere
.ruOrKy: barpin beviveen the Govern_
merit and the Bank, and was itt no degree similarlo
the present measure; and therefOre what was done
upon thatoccasion, could not be cited as a prece-
dent Mitt': He concluded with 106V/iv—to insert
the words,
.“ the pt. of May," instead of r'six
weeks after the Cettittherieement tai the next Sessibb Of
Parliament,"
The CI-14NcELLoR eftbe:gx CliEeueß sug.
seited that 'it would be better tut his Hon. ,rriend
to move his. amendment upon the ..report.
Mr. PR/NSEP saiti, he, thought it his duty 'as -a
Member. of that litiuse to give Itis'support to the
proposed Continuance of a measure from whence the
Rreatest;advantages had ;Arisen. At the time the
estriction first took place, it was considered ai
severe stroke to commerce,.; but increased pros-
perity had been derived frotn an event `which every
man at the moment of its happening deploretio
(The Henottrable 11ifember to ai proceeding to Elis-
eo:is the stibjed at some !Cog; 11, who he
was reminda by Mr. Ato E X a that the
only (itic6tion. wits as to time.) He was of opi.

nion, he said, that no time should be -linlite4
for the discontinnance of the liestrietione 'Mont
advantages had accrued from the Restridion, whilst
no,evil had arisen out of it. He thought that the
Restridion did.not aired the Course of Exchange,
neither did the Export of Bullion. The Hon.G.
tleman TlYir..Betrxes) had not, he conceived, made
a..sufficient-distindion •betweete Geis) --and Bullion.
With respect to the consequences said to result ream
the Restridion, what differe'race Was there between
a Bank' Note andleGuinea as tcrthe articles of every
description which it would. purchase ? lie coeceiv.
ed*that a great number-of advantages • had aritsa
from the Restridion, - and therefore he should sue•
port ir.
Mr. BURROUGHS observed, that we ,were
rifled in lboking forward to an, increased Expotti•
tion, and a coesequent influx 'of' Bullion, u'llith
would of coarse, render the Cotihe of Exelmasge
more favourable to Ibis Country. • -
!he CHANCELLO R.of lift EXCHEQUER said,
he understood his HOA.- Friend (Mr. Beres) 10
ask, if there did not exist greet doubtse-whethet
or nu there might be sufficient grounds for the pro.
po,ed continuance of the Reece:Akin F3.10.0000'
that ;he ground he 'had laid down, when he P0.1,,*
sed the continuation of the Restriction wasiu",/
sufficient ; but his Han. 'Friend ...seemed to tld"K
otherwise, and that the House ought not to continue
the Restridion for so long a period es had (leen pi"'
posed. His Eon. Frieedhad referred to the proceed-
ings which took'place, when the Rest t idion %tea first
proposed.. It was not necessary now to bring to the
recollection eiGentreinen With were Members ofth:
House at the period. alluded to, when; the circume
stances took 'place. IfisMejeSty's GoVernmeat at
that .perioti thought ir necessary to restrid/1
tlie,at'el
fro. m making payments Cash. This .measure
eourse produceed a strong sensation. What was the
proceeding of the Right lion. Gentleman then atth6
head of the Government ? :That' Right Hon. Cc'
trenian •ionSideredair necessary that the Country
should beaeortejsweleleee an invite. for Chet Peirrse
°Jentitlse;stWami;eney of the Bank to iulfil all its engage:
'ti'elisattio vin'atshltithethereßstallntkofwatislaatblieliCilotii7ll.s"
Was there a q
charge all its engagements ? If there was any d 0";
upon the subjedee confessed
li that his Hon:Friend ba"
a right to make that doubt an argument for inquiry*
The .Ad restraining the Bank from Making cashmenuwas renewed at the end of the Session to tellict
he had alluded, When a second inquiry took 1)1.aq;
tahat was tlit.ehie.cerrti.a.odsobjed of that inquiry'
To seti,fy the,anxietyof the Public as to the sittl3*
tion of the Banks which:the result of that inquiry
e
Wes completely calculated to effsel. What were
the prdceedings in the succeedingSassitto ? The 14'
striEtion was renewed, not merely for three, or four
months, but until six months after the
of Peace : the House. then adeptee Leaeuttt
for three years' without any inquire :—the
perle.dly saiiAed• 'of the sufiisieeey,
Bank ,to make good its engagements, did tee ;elm
any inquiry necessary. What were the prea-e`l'T
'hf the Hettete on this subject in the last Sesii("l'
fie then stated to, the douse, that the Cent'', of
Exchange was aufavourable to this Country, nit I'l7'
if the Bank ryas fereed to resume its Fay ments to
Caslesehe etmsequenee must be that an inerense,a
quetaityast? Specie would be seer out eltee_Otiatie
try. -nee same objection was then stated as thee
now urged by his lionhurable Ft iend. lie' stated
at that period,.
that however it. might be
wish to take off the Reoiridithi, yet there shout", e'
be nine given, that we Might see how a eatietY
eomtrieteial circumstances might he adjusted, a?.'`
until every thing got Into its proptr tteels, t'.lnice
the ,Restridion teas discontinued. Tile Cuutee
Exchange had hirmed'otme of the arguments ul hi
flart'eFtind, Who had seici that he' t the Cuesact'''
Loa. of the EXCHEQUER.) bad Stinedjilat the i;Xr
dienge was at par ; he did not -state thats-e but ho
Lad observed, that the. Exchange 4ei'veen
Country and Hainhurgh waieaeper, but that it Os
not so with, Amsk•rdem. He ndmitteet, therefOO'
thatour Specie would. not b- exported to '143°4
burgh ; but he doubted whether it . might to‘
be exported to 'ArneterdSue, Th,y were not,
however, to
.consider the': exportation of V 6,4
(le _ee the only. etre& of diiroorinuing tiro i
Reste k atAher,cohireenenc.a
would
.result, which, ieser vca serious COast;
uptiolen''.sl3tah e l ‘td)tet:lntClynd B.watillkics;
would he . made
far the payment ;of their
,paper, which •tvould
course create an increased' derhand for specie tipeo
the Bank of Englan3. from those in order to
eneble there to discharge their eeglkilieer!`2- .
Imsdiroposed to limit the kestriSiioa
to .the ist of Ma-y, in order that, an iequifY .n 4 1!t
take Pleee in the mean time. Hie (the CHANCFLTA%
Ot)iti:'tlLl"Slellitif)t:l:4)"Ce't*ll.V:l24).StltndikreitSal'idVtr:Pria:t:odilgilatlifto')Cfr.natinlSryll:9l•C'4(:lrliCit:lPgfiLilSattianifi:;°:ll.
that might arise favourable to the discontinuance/
theeßeStriai,;,,, becanse there a chaise in t!
•13i1111 which Parliament might avail theinseive' Q.;
any oppertnuity of that nature; . but thinking at t
- .
that there was. little probability of their.igj he
enabled to gratify their ti ishes in that teSpeti,
looked forward to the commencement of the n'o7l •
Seesion for iliac gratification.* To fix the }rented •
suggested by his Hon. Friend,' would tend to excelec
a.delusive expedetioa that, the Bank would re" 7
its payments in specie at that period ; but ellen
poApgthenat* Was en pizrelhAe Bullion, which 011,
must do at a great disadvantage, still twouldloi•
give, them a temporary advatattee, as time whole be
iCtow;adiurtiedtina.tai-Testwiisrnhiriede'dtoiair:itlYit L?nuifir'
of Exchange steady and stable in favour of tLo.
Coentry, because if the Restriction was taken Of t?
soon, it was highly probable that it must be sing%
afterwards renetved. His- Hon. Friend lint}
. ai' for inquiry •on the ground w It lie ('-e
CU 4NC k? it of 'Clic &cell EQXT a) restee the es.
yosed Itettriaion, he saw Ito reesons for inquiry,
v"viticcd as he.vvas ei 'the eufficiency of the Ilan%
he thought the Public were -net ,equally conelnc et
be would not only not rely npbtehis, trivet convtcti"'''
but lie would be the first to propo ; i 'd. hadec tequiry : the c nu"
etery hoe ever was the ease,
C
. ; lli
AN4. k L LUX 01: the ee• e'ssseees
had stated that okettiens 'ouget riot to guider
UOLlit4 0.1 the contrary, opinions must guide