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

stridion upon the Bank. The Noble Lord seers_
eta to forget 'the „occurrences of '1793, ~hers tkie
state.ofpaper currencitiand private credit svits sot%
as to call for Legislative interference, and which:in.
that instance, by well-timed, firovisions and assist-
ance, had been successfully aamtnistered. -He was
convinced that excessive issues of paper were to be
attributed to far
:other causes than those contended
for by the Noble Lord. 'rimy were in 'a great
gree-Certain symptotias ',Of the wealth, the commer-
cial,and agricultural. prosperity of shlgiontry,,
.Aggeandizenients of these kinds hatiobviolsly great ~
land desirable advantages, but it was retrain that
'they s,vereattended • st;ith no small share -of disadvart,.
tagei : among these were to be regarded those which
proceeded from imaginary wealth, and the effeas of
a'widely.extentied system of credit. He -waa not,
aware, however, that the
.circulation of private
paper had of late been increased. But considerations
;of that sort, generally worked their own cure. Over-
.strainedcommercial speculations, produced bankrupt.
cies, which irrthepoints of view in question, were
to a certain
.degree Proddlive 'of salittirj effetts":7
In this view of the titiestion, and indeed' upon the .
general principle urged' by the Noble Lord hiinself, •
it Was better to leave 'such things to take their oivn'
course. With reopen- to the propoiition of 'the i
Noble Lord in the way offtemcdy, he considered it
as very qtteitionable. • TrOceedings of that kind,
even: the proposal of •theoi, were not in many,poiros
of view merely harmless. By the mention of them
expectations- may be raised which it may be lounci
impossible to satisfy.' By their adoption, such Con-
sequences might possibly ensue, as would ;tot beT
merely useless, for such things rarely left the. sub..
jea as they thund it : they Were often attended with
injurious effects; such Il .proposition therefore re-
quired to be considered.with tho. utmost caution and
' deliberation, and in addition to what ht had Nog_
! Bested was the contingency of 'frequent, and to
many cases unwarrantable applications to. the Le.
gislature, an the
.part* of Mercantile Houses or
Trading ,CorPorattuns, whose circumstances may
be on the wane, and which should be considered
as no trivial'ground of objediori. These were the
points which principally struck:him on a view of
the Noble Lord's .propositions. Many of the topics,
however, which had been adverted to, were cer-
tainly in the serious consideration of Ministers---
But with resped to the Bill before the House, it
was a measure-of acknoWledged necessity—it hid
been produdive of much benefit, and never proved
to have invOlved injurious Consttincnca: he should,
therefore move their Lordships to give a third read-'
ing to the Bill.
Lord KING delivered his sentiments on the sub..
• jeft in some detail. He SuppOrted much of% the at..
gitmeici Tir the NOble Lord wh6.• opened- -the-riticus-
sidn—agreed with him as to his observations upon
the accumulation of Specie by individuals, whichlie
described as the exercise of a right of pr party on
their part. 'He entered irito some calculations drawn
from, certain Documents, which had been presented
tp the other House of Parliament, to prove that . the..
issues of Bank Paper had considerably increased of
late, and 'endeavoured' to' eoablisla the injurious
tendency of such increased issue, by the increased
price of Silver Bullion. Ile adverted to thesieplo.
table state of the Silver Coin in Ireland, where, he
understood, scarcely a good shilling weds to--his Mat
tre •Will proceeding to animadvert tin the state
of theeirculation, &c. in Ireland, when the' Noble
Lord• stopped himself, and„ said he should take the
regular opportunity, which the consideration' of the
Bank of . Ireland Restridion Bill would afford, .of
delivering his sentiments on those heads.
The Duke of NORFOLK said a few words,. and
principally •respecling the influence which' he coif.:
ceived such a powerful Monied Corporation as the
'Bank might have in determining His Majesty's Mi.
nisters to accede to the continuation of such a rhea.
sure as the present. ,Against such an influence His
Grace conceived it would he the duty of the Legis.
lature to interpose and defend Government.
Lord 1-IAWKESBURY, in explanation, rose to
declare,on the part of Ministers, that it was by no
means at the instance of the Bank that thit measure
in question had-been continued, but that it proceed•
ed solely from His Majesty's Government,. who
anted on their:pwn views of the question, and
.who
deemed the measure to be expedient-and necessary
under all the,circumstances of the case.

Tb. Marquis of SLIGO made a few observatjon3
with a view to corred a point or t"tvo in the state.
menu of the Noble Lord (KING) with respeet war-
tainpratlicca in Ireland.

, Lord G REIVraiE spoke shortly in explanation,
and observed, he deemed it as unnecessary to attempt
to prove that the issue of private paper had increased
to an alarming' degree, as it sviis to prove that the
,Sun shone at noon.day ; and that the issue of Bank
paper had considerably increased, had been just.tio.
cumentally proved ,by the Noble Lard near him
(Km)). flicLoiciship also spoke in explanation of
certain points in his speech which he considered as
kving been, mliappreheaded by the Noble Secretary
of State. .

Lord 1-lAwxssius.v said a few words in further
explanation,
After which the question was put, the Bill read
a third time and passed, and a message sent to ac.
quaint the Commons therewith.
,Their Lordships' then disposed of some routine
business, and adjourned till to.morrow„