The Sun.
London, England, 1826-05-27 00:00:00

House of Lords in the Bill relating to the letting out the Bonded

was not before the House, and it was impossible that any judg-
ment could be formed Of its merits. He requested the House to
suspend that judgment until they had an opportunity of reading
the report, and said that he had never sat in a Committee more
determined to do its duty according to the evidence laid before it.
The Right Hon. Gentleman had said that the adoption of the
Report was A departure from the principles and the declarations
of the Government, asserted in the early part of the Session.
That he denied.. And he would ask the Right Hon. Gentleman
when any declaration had been made by the Government which
said that the measure to come into operation in this country, in
1829, should be extended to Scotland ? This incon-
sistencyt eyi year'
and contempt of principle so loudly complained of
by the Right Honourable Gentleman would be neither more
nor less than a return to the system which existed up
to the year 1797. From the year 1777, the issuing of
notes below the sum of 51. was prohibited by law ; and
for a century before that there had been practically no small
notes in circulation in this country. But during the whole of
that period, concurrently with our own metallic circulation,
Scotland had small notes, and nothing else. Up to this Session
of Parliament, no one had ever proposed that the system of
banking in Scotland should be done away. In 1810 a Committee
was appointed, at the instance of Mr. Horner, to inquire into
the expediency of a resumption of cash payments. That Com-
mittee sat for many mouths, examined evidence, and made an
able Report, the conclusion of which was, that in two years there
should be a resumption of Cash Payments. But the Report
never suggested that the same measure should be extended to
Scotland. The Committee of 1819 in the same manner made
a Report, in which they recommended the same measure, but
without extending it to Scotland. This Committee took evi-
dence of the existence of the Scotch small notes, but did not
think it necessary for their principle to interfere. Here, then,
were the facts of time practice of a century, and of two Com-
!Masse; sitting upon the subject of the Currency, and not
deeming it necessary to interfere. Then let him ask the Right
lion. Gentleman upon what public declaration of the Govern-
ment it appeared that they hail, at any time, made up their minds
to such an interference. He would repeat that, his impression
was in favour of extending our own system to Scotland, hut as
there bad been no inquiry upon the subject in reference to Scot-
land, his feeling was, that they should not proceed until they had
inquired. The Right Hon. Secretary then contended that the
letter of Lord Liverpool did not bear the construction put upon
it by the Right Hon. Gentleman. To him it appeared to prove
a directly contrary opinion, and that his Lordship had never
made any such declaration as that attributed to him in the
Right Hon. Gentleman's speech. He had said that Lord Liver-
pool Ought to have made up his miud and supported the mea-
sure without inquiry. But this had not always been the con-
duct of the Right Honourable Gentleman. When in 1818, Lord
Liverpool, through the then Chancellor of the Exchequer, Mr.
Van.sittart, came down to the House with a proposition for re-
quiring additional security front Country Bankers, the Right
Honourable Gentleman turned round end said that Mr. Pitt
himself in the zenith of his power would not have dared to
bring in such a Bill .without previous inquiry. But now, when
Loyd Liverpool, following the advice of the Right Honourable
Gentleman, had proceeded by inquiry, then he turned round
and said, " Bring down your measures and lay them upon the
table, that I may know what it is 1 am called upon to sup-
port." The Committee had been fairly constituted, and other
Members he had readily added to it, upon the recommendation
of those who complained that the interest of the Bankers of
Scotland would not be properly represented. The feeling of
Scotland was universally in favour of the existing system, but
that be confessed he should have disregarded, if upon examina-
tion he bad found that the general interests of the country
called for u change. But what were the facts ? First, the sys-
tem had existed in the best times of the English currency,
without inconvenience. Then, he was asked by the people
of Scotland, " Why will you disturb us, and make us adopt
your system when we have not felt from our own the incon-
veniences of which you have complained ?" He had the
greatest respect for the English country bankers as a class,
and thought they had done much service to the country.—
But he could not shut his eyes to the fact, that individuals had
abused the present system in a degree for which the affairs of
Scotland afforded no parallel. This was proved by the returns,
which showed that since the year 1816 there had been only one
failure of a Scotch Bank, while in the same period in England
there hail been 158. The Report provided that the introduction
of Scotch paper money into this country should he prevented
by the passing a law which rendered it penal. If this law should
fail in its effects, then the question of assimilating the systems
would be necessarily reconsidered. It appeared upon their evi-
dence that if the one pound paper circulation were prohibited, the
Scotch Banks would be obliged to give up their Branch Banks in
the Highlands, to the great inconveuience of the population.—
There was one important peculiarity in the case of Scotland to
which he could not shut his eyes—he meant the amount of circu-
lation. In 1819, the circulation of England was about forty mil-
lions of Batik of England and Country Bank Paper ; of this
23 or 24 millions consisted of small notes. During the debates
of the present Session, the amount of small paper had been calcu-
lated at about six or seven millions. When he compared this with
the amount of small paper circulation in Scotland, he saw that a
law to prohibit it altogether might produce consequences, the ex-
tent of which amid not be foreseen. The total amount of the
Scotch circulation was about 8,300,0001. and of that upwards of
2,000,0001. was in paper money below the value of 51. He must
city, that whatever might have been his impression at first, when
he heard these facts he was afraid to destroy so large a portion of
the circulation of that country, until a further trial had been
made of its compatibility with our own system. The conclusion,
therefore, to which lie came was this :—he was not enamoured of
the Scotch system, but under such circumstances he thought it
prudent to give it another trial. The respect which he enter-
tained fur the opinion of the Right Hon. Gentleman opposite (Mr.
Tierney) made him sorry that the report met his disapproval but
either us Chairman of the Committee, or as a Minister, he could
assert, that to no act of duty which he had been called upon to
perform, did he look back ivith greater satisfaction.
Mr. ABERCROMBY said, _that he went into the Committee
with the opinion that one system for England and another ibr
Scotland was an absurdity. The objection he now had to make
to this report wee, that every one of its positions went to confirm
that opinion, except its conclusion. No one heel ever ventured to
assert, either before the Committee or in that House, that the
cash credits in Scotland would be destroyed by the destruction of
the one-pound notes, He thought the measure recommended by
the report was most unfair and unjust, as giving an undue ad-
vantage to the Scotch Weaker, ,which those of England did not
postmen, and still more unfair and unjust to the principles which
the Government had protonic& The Right lion. Gentleman had
said that only one bank bad failed in Scotland, and that no cala-
mities had fallen upon that country front the present system. But
the Right Hou. Gentleman' forgot to state the difference in the
law which gave the Scotch banks so much greater security. This
very circumstance required that there should be it power of con-
trol exercised over the issues of those banks, because by au over
issue they had the power of inflicting the greater hardships upon the
poor man by ;naming the price of the necessary articles of life,
than if by a sudden failure he lost his one-pound note altogether.
The law to prevent the introbetion of the Scotch notes in Eng-
land would he the most odious and detestable law ever made. They
took an imaginary border, which, so help him God, be had often
passed without knowing it; and if a note legally issued on the
one side were carried on the other without any immoral intention,
the party was to be exposed to penalty of the law. Unless the
Committee had come to a more decided opinion, they ought not to
have made such a report. An argument was put into the hands
of practical men, when they said that their principles were un-
answerable, hut yet unsuited to the circumstances of the country.
The real question was, whether Ministers should retrace their steps
with regard to England, or whether they should put the currency
of Scotland and of this country on the same footing.
Mr. J. P. GRANT thought that the difference between the
currency of both countries did no injustice to England. For
England—whether prudently or imprudently, be would not un-
dertake to say—was only to be put into its original situation its
regarded a metallic situation. But the case was very different
with Scotland ; fur in the latter country, during the last eentury
its present system had preVitilecl, and in so long a period only two
hanks had failed, with a kis to the country not exceeding 341,0001.
Indeed all writers on political economy, from Adam Smith down-
wards; invariably attributed the prosperity of Scotland to its
banking system.
Captain Gordon, Sir M. Ridley, Mr. Hudson Gurney, Mr.
Robertson, Mi. T. Wilson, Mr. Alder Man lieygate, Mr. Ellice,
Cripps, and Mr. Maxwell, severally spoke.
Mr. 111JSKISSON then moved--"'That the Report be brought
tip and printed," whichin the affirmative. After which,
passed
Sir M. W. RIDLEY moved the following Resolution :--
" That the House think. it advieeable to plalge itself to institute
en inquiry heat Seeaion iiito how far the interests of Hoglund and
Scotland may be affected by different systems of currency,
ascertain if any and what swans could he taken to assimilate the
currency of both sountriiia." and to
The motion having peen put to the vote by the Smits:at, ass
negatived without a division.

CORN LAWS.
Mr. HUSKISSON brought up the Amodmepts wade by the

Corn.
On a question by Sir Jour; Want-mum,
The SPEAKER said that all the clause's of the Bill, as passed
by this House, had been returned unaltered, with the exception
of the clause which had been considered by their Lordships as un-
intelligible--that clause had, however, been amended and made
intelligible, and another chime letd been added to the Bill.
The amendments were then read and agreed to.
ARMY HALF.PAY.
Mr. HUME said he was sorry, at this late hour of the night,
to detain the House, but he considered it very important that this
subject 'should he submitted to their consideration. He thought
the system of admitting Half-pay Officers to sell their commis-
sions, extremely objectionable, as the expellee entailed upon the
public, was by that means made perpetual. The Hon. Gentle-
man then alluded to a return which stated the number of pro-
motions which had taken place sines the year 1817 to the pre-
sent time, and concluded by moving " That an humble Address
be presented to his Majesty; praying that he may be graciously
pleased to employ in his Army, as vacancies should occur, such
persons as are now on half-pay, who are qualified to serve his
Majesty, as well as with intent to remove the nation from the
burthen at present imposed on them, as to reward those who have
served in the late war."
Lord PALMERSTON, at this late hour of the night, could
not enter into all the topics the Hon. Gentleman had alluded toe
but if the Hon. Gentleman had thought no diminution had taken
place in the sixpences of the army, he was greatly mistaken. The
Gentlemen on the other side of the House were apt to talk of the
unconstitutional state of a standing army, and the danger which
might arise from it, but the only mode by which that could be
guarded against, was to have the army composed of persons im-
mediately connected with the state of the country, and to havthe
e
no persons in the army
Who were at all at variance with
constitution of the country. It had been said on other occa-
sions, that merit was passed over for the purpose of pro-
moting those who had nothing to recommend them but mere
interest. The fact was, that a junior officer was never allowed
to purchase over n superior milers the superior was unable
or unwilling to make the purchase, and then there could be
no principle of justice which coald operate as a refusal to the
junior officers being allowed to purchase. He (Lord Palmerston)
thought it would be a very anjust thing if every vacancy was filled
up by half-pay Officers, and all the Officers cummanding the vari-
ous serving regiments excluded from promotion till every half-pay
Officer was provided for. If the plan suggested by the Hon.
Member was adopted, men would he holding situations in the
Army totally unfit for service in consequence of age, infirmities,
or family incumbrances. Regiments would have Ensigns of forty
or fifty years old, with their wives and ten or twelve children fol-
lowing the camp, and he would ask the Hon. Member what sort
of au appearance such an army would make.
Mr. HUME having said a few words in reply, the Motion was
negatived without a division.
The Report of the Select Committee on Emigration was brought
up and laid on the table; after which the House adjourned at
One o'Clock to Wednesday next.

STATE PAPER.

GREAT BRITAIN AND SWEDEN.

CONVENTION of COMMERCE and NAVIGATION betwois
his MAJZSTY and the King of Swenzie and Noawax,toge-
ther with an Additional Article thereanto annexed. Signed at

London, March 18, 1826.
Article 1. The several stipulations contained in the declaration.
exchanged between the Plenipotentiaries of his Majesty the King
of the United Kingdom of Great Britain and Ireland and his Ma-
jesty the King of Sweden and Norway, on the 24th of April and
16th day of Jely, 1821, shall continue in force between the high
contrasting parties, respectively, for the term of the present con-
vention, and shall be equally binding upon the said papers, their
officers and subjects, except as far as the same may be hereinafter
varied, as if the saute had been inserted, word for word, in this
Convention.
2. British vessels entering or departing from the Ports of the
Kingdoms of Sweden and Norway, and Swedish and Norwegian
vessels entering or departing, from the ports of the United King-
dom of Great Britain and Ireland, shall not be subject to any
other or higher ship duties or charges, than are or shall be levied
on national „vessels entering or departing from such ports, re-
spectively.
3. All goods, wares, and merchandise, whether the produc-
tion of the kingdoms of Sweden um! Norway, or of any other
country, which may be legally imported frem any of the ports of
the said kingdoms into the 'United Kingdom of Great Britain and
Ireland, in British vessels, shall, in like maauer, be permitted to
be so imported directly in Swedish or Norwegian vessels : and all
goods, wares, and merchandise, whether the production of any
of the dominions of his Britannic Majesty, or of any other COND.
try, which may be legally exported front the ports of the United
Kingdom, in British vessels, shall, in like manner, be permitted
to be exported from the said ports in Swedish or Norwegian ves-
sels. An exact reciprocity shall be observed in the ports of Swe-
den and Norway, so that all goods, wares, and merchandise,
whether the production of the United Kingdom, or of any other
country, which may be legally imported from the ports of the
'United Kingdom into the port* of Sweden and Norway, in Swot-
dish or Norwegian verbal*, shall, 'in like manner, be permitted to
be so imported from the ports of the United Kingdom in British
vessels ; and all goods, wares, and merchandise, whether the pro-
duction of any of the dominions of his Swedish Majesty, or of any
other country, which may be legally exported front the ports of
Sweden or Norway, in Swedish or Norwegian vessels, shall, in
like manner, be permitted to be exported from the said ports in
British vessels.
4. All goods, wares, and merchandise, which can legally be
imported into the ports of either country directly from the other,
shall, upon such importation, be admitted at the same rate of
duty, whether imported in vessels of the one or the other country ;
and all goods, warm, and merchandise, which can be legally ex-
ported from the ports of either country, shall, upon such exporta-
tion, be liable to the same duties, and be
.entitled to the tonne
bounties, drawbacks, and allowances, whether exported in vessels
of the one or the other.country.
b. No priority or preference shall be gnien,- directly or indi-
rectly, by the Government of either country, or by any com-
pany, corporation, or agent, acting in its behalf or under its
authority, to the purchase of any article of the growth, pro-
duce, or manufacture of either country, imported into the
other, on account of, or in reference to, the character of the
vessel in which such article was imported ; it being the true
intent and meaning of the High Contracting Parties, that no
distinction or difference whatever shall be made in this respect.
6. From and after ahe date of the present Convention, British
ships shall be allowed to proceed direct from any port of his Bri-
tannic Majesty's dominions, to any colony of his Majesty the King
of Sweden and .Norway not in Europe, and to import into such
colony any good., the growth, produce, or manufacture of the
United Kingdom, or of any of the British dominions, not being
such goods as arc prohibited to be imported into such colony, or
as are admitted only from the dominions of his Majesty the King
of Sweden and Norway ; and such British. ships, and such goods
so imported in them, shall be liable, in such colony of his Ma-
jesty the King of Sweden and Norway, to no higher or other
charger; than would be there payable on Swedish or Norwegian
ships importing the like sorts of goods, or payable on the like goods,
the growth, produce, or manufacture of any foreign country, al-
lowed to be imported into the said colony in Swedish or Norwe-
gian ships. And from and after the same date, Swedish and Nor-
wegian vowels shall be allowed to proceed direct front any ports of
the dominions of his Majesty the King of Sweden and Norway,
to any colony of the United Kingdom of Great Britain and
Ireland (other than those in the possession of the East India
Company), and to import into such colony any goods, the
growth, produce, or manufacture of the kingdoms of Sweden and
Norway, or of any of their dominions, not being, such goods as
are prohibited to be imported into such colony, or .as are admitted
only from the dominions of his Britannic Majesty; and such
Swedish and Norwegian easels, and such goods so imported in
them, shall be liable, in such colony of the United Kingdom of
Great Britain and Ireland (other than those in the possession of
the East India Company), to no other or higher charges than
would be:there payable on British vessels importing the like sorts
of goods, or payable ot, the like goods, the growth, produce, or
manufacture of any foreign country, . allowed to be imported into
the said colony in British shipto
7.
Front and after the date of the present Convention, British
ships shall be allowed to export from any colony of his Majesty
the King of Sweden and Norway, not in Europe, say goods not
prohibited to
be exporttel from such colony ; and such British
rl'UldliabbeiNin
sshuiephs,colontlys,4toch nguudosso
other orez plotirgteb higher icn •bStrhgeearn'thiahiali nl
pay-
able by, and shall be entitled to, the carne drawbacks as would be
there allowable on Swedish or Norwegian ships importing such
goods. And the like liberty and privileges of exportation gnat
be reciprocally granted in the British Colonies, (other than those
in the possession of the East India Company), to Swedish and
Norwegian ships, and to goods exported in them.
8. In respect to the commerce to be carried on in vessels of
Sweden or Norway with the British Domioions in the East In-
dies, or now held by the Bat rods. comp arty in virtue of their