The Sun.
London, England, 1819-05-25 00:00:00

Atered the relative prices of Luilion in the malkef .
teas impossible that any such effeei as what WAS
-stilted could be produeed by -importing silver from
France, for the importer could not convert it into
coin or make any wirer use of it. Mien the silver
coin of the country was deteriorated so much As
30 per cent., he never heard of such a thing as
people coining, Eugli.!lt money in France, and
:lp.inging it into this country. The tery principle
on which the silver coinage was now regu•
i-itcd had been rerwunieniled by, that gre4t
- authority Adam Smith. The present new coin
had Mb W bet-11 in opera inn for Once years, and
lie never brand the slightest complaint against it
Ott the (101.11rarv, be new that it gave universal
s;4tisfaclion. When this cunt was pioposed
the other
.1 louse, a Noble the e Lander-
slu:e) he meow the o!d merchant, exclaimed
u;.:aitist the plok.ct, said it would ruin and bring
universal wrrtc;,edness over the country. He
al%o s tit! that would .he attended with im-
mense expense, am!, that when u shnithi be is-
sued, not a shilling of it could remain in the
Note the tact teas, that this coinage
.4)•( no more than 50.0,0001. that it went int.

. ,
c:.tct,lxtirlt ip_abotit n hwilight ; t.hat nut a single
1.91,,er of an old, shilling Or six!ience lost what
ha,; to his poise,ion ; th.tt necv
s xi:. races were given to exchange, and that
th-se new sh i1.i:1;4,+ and Sixpences were stid in
the con..tey, regard to the copper' coinage,
the flnernations in its valoe atiscted nobody, he-
cans, the .entler of it Was limited. Ahoot a mil-
-I;',,tl` or +fiat ez,ill now in cieenlaron, and no
,onylaitit was ev,r made lespeeting the state of

it. On t-he whole, he coltendeti that the prettetit
spitytty t)t atitl copper colitSge Was the least
~hj, iunable that could be adopted.--(tiear,
lir.r

ir. TIERNIzy and Mr. 111 A KING rose at the
'same time. There %vas a pretty Ii) It f.ir the
(;culieti4;iir 10)110 V61.1011$ 11,41t5, of the House,

lint he cave way.
Tit:nseY could hardly say that he was quite
disintetested party on this crest ion, if it was re-
collected that he now heard from the Other aisle
of the tine ;e. those very principles advocated for'
-which lie anti his friends near him had Si, long
Contended. ► Nor could it be thought that it was
possible for him, to remain indifferent when he
beard the tribute of respect paid to the memory of
' one recto had always been most dear to hint. It
etas a great gratification to him that he had lived
at least, to see the day when those doett hies were
ed,,p:ed which, when first delhered with all the
powerful eloquence of the late Mt. Mutter,
bad been described by the Gentlemen on the
other side of the Mouse as nitre visionary, spe-
enlations. The same thing had happened with
respect to the opinions of Sir Samuel Romilly.
What had been treated, when proceeding from that must dis-
tinguished man, as wild theories, were now adopted by those
Tery persons who had so long opposed them. te thauked
the Right Hon. Ge tleman for the justire which he had this
night rendered to the memory of one of those eminent men,
and he was sure that hereafter equal justice would be done
ter the merits of the other. The subject on which the House
was now called upon to deliberate was certainly one of great •
• importance; but so far as he could observe, there seemed to
Ire a pretty general disposition, on both sides of the House
to concur in the plan of the Right Honourable Gentleman
(Mr. Peel). Whether or no the consent of the Gentlemen
On the other side was reluctant or ,ot, he could not himself
sac; hut xellictant or hot, they seemed inclined to sohmit to
that plan. For himself, he certainly should not now have
troubled the House, if it were not that he had been alluded
to by the Rt. Hon. Gent a, the only Member a the Committee
who r. 41 diffeted front the rest as to tire Iles(nlutions which
lad beet' agreed to. He was sorry, however, that he
could not entirely agree to the plan which the, Right Eloinour-
able Gent letnao proposed to the House under the sanction of
the Committee. No man could he more anxious than
self fcr the speedy resumption of cash payments—no man
could be sapposed to hove less favour for the Bank Directows.
But justice must, he done to all; and.he felt it his duty to
state a by he should vo'e for the antendtuent moved by his
Honourable Friend (Mr. Ellice), rather than for the motion li
of the 'Right Bon. Gentleman. All were agreed as to the
importance of earlyan return to a metallic currency.—
The plait which the Right Honourable Gentleman pro-.
pesed was easily explained.. It was, that in February nex‘
t;os shall pay all demands in sums nut less than 6ta
huliion at the price of 41. Is. per ounce—that
to, ei rho Ist November, MO, this price should be reduced
to :A. lug; girl.—front Ist May-, Itf3l, deritands to half the
aerobia first'entattioned bullion at the rate of 31. 17s. lOid.
and finally, that the notice of oneeyear for a complete re-
samption,of cash payments, to be given bey the Parlia.:
went to the Bank, should not be given before ttie Ist of
May, 16-2 i. The effect. of this- plan was to drive. off the period
of cash payments for four years from this time, which would
make it :he ninth year of peace before the poeitte of England
would he put in possession of a metallic currency: The Right
Gentleman used this phrase in speaking of'his plan, that •
the. Committee were •ttaking security against possible.
danger." This- was a good expressimi. A secarity agaiost
possible danger was just the very thing which he wanted.
"file Right Hem. Gentleman however agreed that the stand-
ard should only he altered for a limited time. But the great
fCc,ltity to which' he would -look was, "that when Cash Pay-
is were resumed, -it would ctn. off • the retreat of those
who might be disposed to draw .back. The Hon. Nleuther
thought that Iliteplan now proposed was dangerous, because
it tended to withdraw the confidence of the public front the
]fink. What is a pound Sterling now worth ? The Bank is
no longer to he trusted, and therefore the currency of
the country is greatly depreciated, and the, pound Sterling
of a very doubtful value. But the opinions entertained
of the Bank by the Chancellor of the Exchequer were the opi-
nions of Mr. Horner, as expressed in his propositions sub--
witted to the 'louse in the year 1310. The Rank Directors
-Were treated very cavalierly by the Chancellor of the Ex-
-ehecpier. The former say we know nothing of political eco-
nomy; but, it a run is made against us, we must take care
of our paper.—(llear, bear, bear!)—lt is somewhat ex-
traordinary that you should demand security front the
and trot front Government, who were the chief cul-
prits, because the Bank 'were tinder the control of the
Right Honourable Gentleman (the Chancellor of the Ex-
cheetrer) and his worthy colleague's.--(Hear, hear, hear!)
—Without security from Government, as well as the Bank,
you were in a manner pitting the shepherd in the stocks,
AA letting louse the wolves.—(Hear, )tear, heat !)—No-
tiring was so mischievous as to say to the Bank Directors
' -s-tt We cannot trust you, and therefore the. public must
repose nn confidence in you !" Let such language hr used
against artv pins ate banking house, and ruin must inevitably
follow. Ify .holding out to- all the world, that the Bank
is
itot to he trusted, public credit is deeply injured. But he
(Mr. Tierney) had an interest In the Bank, and therefore
thought it incumbent upon !tire to support the Bank against
the attacks of Ministers. Should the Bank complain of• the
non-payments of the• advances to Government, the latter
wool(' tutor rotund shortly on the Bank, and say, the public most
- no longer trust you. While Government and the Bank conti-
nued to depend upon each other,' the public security would be
inconvenienced, if not endangered. He (Mr. Tierney) dis-
liked the plan, and he found many Gentlemen of whose lie-
neoration and judgment he had a better opinion than his
own, also expressl their disapprobatiOn of it. But there
was an additional authority which seemed to corroborate
bus opinions, namely, that of the Public ; fur the Cou-
sds, which ought to have beets at this time ,up to 86,
were down this day to 65. He drew ft comparison be-
tween the poor man and the rich, by supposing that the
latter, fur his 1001. wanted gold, and the former, fur his
101. wanted also gold. They both might tell. time I.3,mdi
Directors; " We do not like yonr Paper; we do not even like
your silver; give us gold, even if it btebut fur the purpose of
it"cYi!nr in our, garden." But you could not make tnen do
that which they had not the means of doing. In the height
of their alarms, th; Direetors had been refused an audience
of the Chancellor of the Exchequer. They were driven from
inoot to dour by tine Ministers, and had performed a kind of
,reelaucholy -qearantine !—(Hear, hear, hear !)---The alarm

We received this n►orning the Paris Papers of
Saturday list. The Chamber of Deputies on Fri-
day were again occupied in discussing the articles
of the projet respecting the financial accounts,
a further adjournment' of which look place till
Saturday. The KING, it is said, is expected to
go out the beginning of next mouth. It is again
positively asserted, that the 25th of August is
fixed on for the Coronation. Prince LeopoLo
Saxa-Costoutto arrived at Pat is OH Friday„
Orders have been sent, it is said, by the Austrian
Government to litsprock, to assemble the States of
the Tyrol. The accounts -from Tunis continue to
metrion the dreadful ravages of the plagt,: Tunis%
had lost more than half its population, and the
greater part of the villages in the interior were
deserted. It is reported that 15 000 AribS were
about to march upon Tunis, to take advantage of
fte weakness caused by this dreadful calamity.

Ft~ t 3 PRR CKICTS.

- - - -- - - •
Friday —66 f. 83a.
DEFektith.D STOCK.
Of the 49(1-March, 1817, B5 f. 15 c:.
¶2,itiSk;pli. ' 1817, r.:l f. tric.
' _eini Match, thug, .,31 f. 15c.
9-2,l,:t•pt. 1416, s
4it.l Marc:141619,