The Sun.
London, England, 1826-03-01 00:00:00

HOUSE OF COMMONS.

jows-soN brought up certain Paper% frr,ni the Offiiv
oftnt Nocrotitry lrelnol—Ordetcd to he printed.
B lirat'NuNirte l'lN'rotSitt(l;(ry)flit‘ittNghntup au account or
is Sentlanill and certain papers relative
to the prwer cotreney.
CA it. A TIC (0311118SION.
IV It; 8.A.11 moved litr leave to bring in a Bill 10 eon-
:lulu the powers of th,c. Carnitte Com-Mission ; to enable them

AS ESE BILL.
Mr. CORBYNDALL brought up report on the Dallas Estate
Bill—L-Ordered re be committed.
BRIM ON DSEY CH URCH.
Mr. U. SUMNER 'mired for Imo to bring in a 13111 td
build a ToYeer in the Church of Bermondsey.
RAMSGATE THEATRE.
Sir . KNATCH BULL brought tip a report on the
gate E
Theatre Bill.---Ordered to be committed.
LEO3IINSTER CA NA 1, COM PA NT.
TitEMA YNE brought tip a report on the Leominster
Canal Bill, to enlarge the powers of the Proprietors, and to en-
able them to raise money to pay their debtsi and to carry the
objects athe Company into effect. —Head a second time.
CORN LAWS.
Mr, 110 f/DSIVORTii presented a petition, signed by 500
persons resident in Tcwkeebdry, praying for the repeal of the
Cern Laws.
4.l'ir JOHN POl,l4E',:ii Rescinda siitiilar petition, signed by
100 persdns, inhabitant:4l"f the town of Datlington.
eetitions item presented by Mr. h. Heel!, from the
teirinewners or the county of Leicester; by Lord Milton, front
flan tnshaw ; by Mr. Lindsey, t'rein the congregation of
Quakers residing at Forfar; by Mr. flume, front Calton and
Glaligow ; by Mr, Blackburn, ftottt the Silk Weavers of
Jlalesworth ; by Mr. Curteia, from Bexley.

A1101:1T.ION OF sLAYErw.
Lord PAI.3IERSTON said, he held a petition in his hands
from the. Chancellor, Masters, and &hoists of the Univer-'
sity of rimbridge, against the. continuance of Negro Slavery
in the IVest lndies. The petitioners felt .grateful to his
Majesty's Ministers And the House for what they had already'
done .to ameliorate the condition of those unhappy men.
They considered any laws which would oppress any portion
of the htnnan species, whatever might be the it country or com.;
plcxion, contrary to British law and the Christian religion:
They admired the principles and feelings which originated the
resolutions which were.. entered into by that House in the year
1:123, and were anxious to see those resolutions carried into
effect. He was sure that the petition would meet that attention
front the House which the character. and opinions of the peti.l
tioners entitled them to hope for. It was gratifying to see the
University of Cambridge' come .forward on such an 0cca5i0n......:
He felt great satisfaction in presenting such a petition (in the
sentiments of which he entirely concucreti) from that meat of
learning at which the future legislators of the country were to
be educated, and which now , declared its opinion that ncgrd
slivery Was inconsistent with the law of England. From that
University the teachers of religion would come forth to incul=
cate and to prove that slavery was equally incompatible with
the principles of religion. The petition then before the Howse
guaranteed those results. No man would be so wild as to ad-
vocate their immediate and sudden emancipation; but he
thought nu injury could possibly billow from dry gradual ame-
Ilnration of their condition, which was the object which the
petitioners then prayed for. Opposition had been made to
tlie benevolent views of the country with regard to the negroes
by the colonists and if so humble an individual as himself
could give them any thing resembling advice, he would tell
them that such opposition would he fruitless; that no opposti-
titer 'hey could make would prevent that measure of philso-
thropy from being carried into complete • effect ; it' they per:
sdvered in that opposition they would draw down upon.them.i
salves the execration of the country, a consequence which no
body of men, however numerous or powerful, could witness
with indiKrence. His Lonlship then presented the petition 4
signed by the chancellor, masters, and scholars of the Univer.;
City of Cambridge, praying for the gradual abolition ofsluveryr
Similar petitions were presented by Sir W. Ingilby, from
Dodington, Bodycote, Lemon, and Brig; by Mr. Dickenson,
from Glastonbury ; by Mr. Hugthde, from Atherston, in War.:
wickshire; by Mr. :Hondas, from the Merchants' Company of
Leith, and the Company of Tailors of Edinburgh; by Sir C.
Blare!, from Pontefract; by Sir John Pollen from South
Shields ; by Sir C. liurrel, from Shoreham ; by Mr. Sykes,
from lihnsworth ; by Lord Milton, from Hammerton, Hod.:
derstield, Saddleworth, the 'Mayor, Corporation, and Inhabi-
tants of Doncaster, Keithey, Hobworth, Hickenshaw, Kilder.;
son, Oasenly, Bontsey, Ileckniondwike, tiornersal, nothbury4
and Ilertisyn, all. shunted in Yorkshire; by Air. Wells, from
the Ilonseholders Aral Inhabitants u 1 Maidstone ;by Mr. Deni.. ton, from Them VS bit Vint jby Sir Warieraler, front' thel"..
Provost and Inhabitants of nuttaftw4,ll rapt. ifortiOns
from parvis; by Mr. Ohre 1"rom Neweastio.uoon-Tyrier by
Mr. relnian, tiortt -Whitehureh ; tilso frill,' the DiSsimers of
Newport, in the Isle of Wight; then Whirtiogintiri, from Cary low, from St. Ives, Cornwall ; and from Width:on Abbey, by
31r. Brougham.

" YRIENDIX SOCIETIES.
Mr. GOSSEI7 presented a petition from Ain George Cilen4
nie, in favour of Friendly Societies.
111 r• VICKINSt EN presented a petition (as we tindeftitood); praying Vol, a Committee to inquire into the present state oe
County narri.

SIERRA LEONE.
Mr. DICKINSON (we believe) moved for n return of tho
quautity ofgoods imported into this country from the colony of
Sierra Leone, t'rom the bth January, 11J23, to the bth Jautturyl
MIL-Ordered.

LEATHER TRADE.
Sir ROBERT SHAW presented a petition from the Lea.
aver Manufacturers of Dublin, praying for a diminution of the
Duty on Leather.
RECOVERY OF' SMALIi purrs.
Mr. LEGII KECK presented a petition from several persons
in the Hundred of Sparking, praying the interference of the
House for the more easy recovery of Small Debts.
CASE OF AI R. I'l NT.
/ Mr. L. rxerc, on presenting a petit am from this gentlomsn,
entered into the merits of his case at some. length ; btu from
,the low tone of voice in which the lion. Member spoke, hilt
observations were Mandible in the gallery. We nntlerStootthint
to say that as the law relative to perjury now stood, any inch,
vitlual Was open to the machinations of any wicked man, who
for his own interest was willing to sacrifice his conscience. He
hoped td see a Bill in the hands of the A ttorney-lletteral, which
would provide liar the injury that often resulted from an huh./
victual being arrested for debt upon the single affidavit of a cre,
ditor. If the subject was taken up by Government, he should
feel happy ; but if not, he would feel it his duty to bring it be,
fore the consideratiou of the House, and it was from the prettens
state of the law that the petitioner bad sustained considerable
loss, and now prayed the relief afthe House.—The petition was
laid on the table, and ordered to be printed.
r PA PER •CI 1i it ENCV OF' SCOTLAND.
Sir 0. WA RA ENDE;It presented a. petition from•Hedding.i
•• • ton, against any alteration in the paper currency of Scotism',
BANK OF IRELAND.
Mr. S. RICE moved for a return of all thank notes isstted b
the Bunk of Ireland from the year.lB2s to the year 11126, with
a copy of the pecise words of all romissor ntlies laStfel dor. ing that }what,r distinguishing those issued itt Dublin andi those
issued elsewhere.

AFRICAN COLONIES. • Mr. HIT.IIR moved for A return of the number of Euro+
peons- sent out to Africa, and the number of deaths which
took place there since we took possession of the Monies on that
continent.

~rrlE CANAIJItS.
Mr. HUME pr,ave notice that be would mo've fore return of
the vxpences incurred by Government in the 11144%1th/ince of
the two Cnnadtts.

TOBACCO AND SNUFF.
SirJOHN NEWPORT presented a petition from the Mae
notacturent o TobaCco and Stuttrin Dublin, praying for a re+ peal attic duty un those commodities.
LILA S P BUMS PICTURES.
'll 31r. BROUGH A3l presented :t petition thin a Capt. Wins
Hardman, praying that the /louse would pass a law for the
ponislintent of persons publishing blasphemous. pletures.—l.44
tiered to be printed. Also front William Catnpunt and others,
to the same etrect.--Ordered to lie on the table,

DUT V ON COALS IN llt
31r. 814 I lirN Lf )w., presented a petition front the eitambet
of l's►tm:u rtw in
tiolti printedmale. _(kcicretl lti:sstit.ying,for a repe..l n.) dutyti on

JURY LAIC' IN SCOTLAND.
The IA ADVOCATE morvtl for lesve rri bring in aDin for netrur regulation and enrolment of juries in Sett,
/and..--LertVi:
• ' THE TENT"' iitY,S4,I,I(S.

4,l,Ntion to the Nnoto the Secretary at War, relative
a -I,l,iect cotisidgrattl, itoportance.--(The lion. 11,arone't s., lelW3 tone pi that thttre watt a genew c,„
.7 0
4, :„.,1„ c,„(.'“)._The 11,m. Baronet then pr0.:e.,3411 (as we un4

derstbOd) to inquire whether the attention of his Royal High-
Wig thaCommander-in-Chief had been called to a very extra-
WrdinarY statement, relative to the treatment experienced by a
wadies in Exeter, and which, if true, would demand an imme-
diate inquiry.
Mr. YELL replied, that his Noble Friend was not in the
House.; but int he happened to be in possession of some infor-
mation on the subject, lie would communicate it to the House.
He had inquired. from Sir H. Taylor, Secretary to his Royal
Highness the - Commander-in-Chief, whether the attention of
that illustrious portion had been called to the subject ; and he
was intbrmed,, that on his Royal highness being made ac-
quainted wait the statement, directed an immediate inquiry;
anti he had every reason to believe that the statement in all its
parts wt's greatly exaggerated, and in midiy particulars wholly
unfounded. hut at all events, an immediate inquiry had been '
set on foot.
Sir HUSSEY VMAN:said, that the statement was, •to a
great extent, exaggerated. An ofFer- Was made to the officer
concerned, that the columne.of a.newsnaper would be open to
Lis refutation of the statement; but he very properly replied,
that lie did not think it worth his while to reply to any thing
that might appear in a newspisper, but would assist the mvesti-
gation which the Commantler-in.Chief had directed. The
Lieut.-Colonel was accordingly. sent down to Exeter, and an
inquiry would be immediately instituted. li:flowing well the
prejudice which in the last year had been created against that
regiment most unjustly, he was disposed to think the statement
.watt greatly exaggerated ; and that, in fact, the whole story had
.taken its rise in that unjust prejudice towards a regiment which.
deserved as well us any in the service. lie verily believed, that
so far from their being any foundation fur blame against the
Commanding Officer, whose character wits involved in the
stmement the transaction arose entirely front the strong inch-
nation which he and many other officers felt to avoid corporal
punishment, and which induced them to resort to severe drills
and other punishments as substitutes.
CtllMJl.lttt IAL DISTRESS.

Mr. T. WILSON rose, in the first instance, to make an in-
qui • 'ry relative to the nature of an arrangement which he Wan-
alerstood had taken place between his Alajesty's Ministers and
t!At Bank, the answer to which might perhaps render it mine-
•eessary that he should persevere irs-his motion. lie begged to
..know now from the Right lion. Gentleman what the nature of
that agreethent or convention was ? • • -
ThetaANCELLOR of the F.XCHEQUER said that such
-had been On Me, and in consequence of what the lion. Gentle-
man (Mr. Wilson) had intimated, as to his intention of elm-
ironing his motion, it' became necessary to 'state •to the House
.that his Majesty's (imminent had caused a communication to
be made to the Bank, requiring to know how far, and to what
extent that body might be disposed to give relief in the present
state of depression that uttuched to commerce anti manufactures,
and whether it Was their intention to advance money on goods.
He was able to state that an answer had been received from the
Bank, in which they expressed their willingness to acquiesce in
the measures submitted for their determination, and that they
were then considering the best means of giving effect to the de-
termination to which they had come.
Mr. T. WILSON said that he should, after what had fallen
front the Right Hon. Gentleman the Chancellor of the Excite-
. quer, say a few words. Ile believed the fact was, if his Infos.-
mation was correct, that the Bank of England led consented
to the advance of 3 million ; at least he believed there was no
-objection on their part to do so. He also understood that it was
the intention of his Majesty's Government to institute some
measure to secure the Bank from loss, • and also to give them
.• every facility its carrying. the proposed measures into effect:—
The lion. Gentleman maul, that although he did not consider
the proposed measure the best that could have been come to,
yet, as the advance of 3 millions of money would be calculated
to relieve commerce from the depressed state in which it at pre.
sent was, and also to inspire confidence and stability in the
minds of the people, he would not *Hafer as to the manner in
which the relief so desirable to be given should be afforded.—
..De must say that every individual was most essentially obliged
to the Bank for their conduct In the present state of pressure
and distress; and he could only add, that he koped the pro-
posed relief would be extended not to the merchants of London
. alone, but to all °tint parts of the country.—(Hear, hear!)
The CHANCELLOR of the EXCHEQUER said, before
the question was disposed of, he wished to repeat what he had
before stated, that the• Bank of Englund hod under their consi-
deration the best means to be adopted for giving the required
relief. • It was the intention of the Bank to carry into effect an
, advance of three millions; not that they felt themselves bound
at present to any specific system of advance, except that of
limitation, three millions being the amount to which they bud
determined to adhere. it certainly was true as stated by the
lion. Member (Mr. Wilson) that Government had an Intention
~of submitting it proposition to Parliament to enable them to
pay off a certain proportion of the advance so made by the Bank
of England. His night lion. Friend, the President of the;
Board of Trade, also intended to submit a proposition to the
House, in order to accelerate the measure in contemplation as
regarded the low of ,merchant and factor.—alear, hear o—it
was only at a •very late hour that lie was informed of what were
the intentions of the ]lank on the subject, and therefore he
-could nut give tact information :to the House which he should
have been otherwise disposed to do. As the whole case was
now before the House, he trusted the lion. Gentleman (Mr.
:Wilson) would not persevere in his notice of motion.
PEA USE stated the great anxiety on the part of the
flunk to do all in their power to carry into effect the relief re-
quired by the distresses of the country, and he felt convinced
tog the knowledge of the intention of the Bank would do snore
good, by inspiring confidence among merchants and manufac-
turers, than the advance of .any•sum of money would do, in-
-deed he felt assured that a very moderate issue would bo
required.
far. ELLICE begged to be informed, either by the Right
Gentleman the Chancellor of the Exchequer or the Hon.
Bank Director (Mr. Fearer:), whether the relief was to be ex.
tended to the roanufacturing towns, and whether personal seen-
'44, as well as the deposit of goods, would be tulip.
.The CHANCELLOR of the EXCHEQUER said, that as
to the precise mode in which the advance wits to be 'wide, or
,whether on individual security or not, be was nut informed.
...Bohai was necessary certainly to a great extent in London,
but in the country distress might exist, and did exist, and
with that view the relief would be extended 1.1) the manufac-
turing to • us.
Air. 'TIERNEY wished to know whether it was Intended in
the repayment by his Majesty's Government of the advance to
be made by the Bank, that it was to be done by way of Bill.
The CHANCELLOR of the EXCHEQUER said, that his
Najesty'a Government were not to bear the Bank harmless, but
-.Government would essist in relieving the Bank by an Issue of
Government. socuritiein •

Mr. TIERNEY wished to know whether he was to under.
stand that a Bill was to be brought in.
The (;MA NCE mon, of the EXCHEQUER said, that ho
had not stated a Bill was necessary to establish a commission,
but that it was to enable Government to relieve the Bank from
a proportion of the advance, and by relieving the Bank also in
a further degree by the Acceleration of the measure regarding
the merchant and 'actor.

Mr.TIERNEY was for some time inaudible in the gal-
lery ; as soon as we could catch the tenor of his observations
we understood hint to nay, that the proposed measure would do
some good, but not a general good—the good that was re- •
Attired to be done was a restoration of confidence. The con-
of Ida Majesty's Ministers in the line they now pur-
sued was don of doing something or nothing,- for icwas im-
possible to come at u contillision upon the subject.. One fact
appeared clear,'which was certainly very flattering to the Bank,
that they were to be put in the gala when nobody else could be
found to occupy it. And why Was it so ? Because a Noble
Lord (Lord Liverpool) had determined that the country
should be aucritieed in order that he should be enabled to keep
.word, when he. said that no Exchequer bills -should he
,issued. lie (Air. Tierney')' could not suppose a case to arise
Where the interference of the Legislature was necessary, if the
one then before the House was not of that nature. lie did not
know how it happened that when that grand panacea for all
the distresses that afflicted the'catintry came on, that it was in
some Irregular way. Even now, when he was speaking, there
was no question before the house, and he could not but wish
that the Right Hon. Gentleman (the Chancellor of the Ex.
chequer) would do hint the obligation' to bring forward the
measure in such a shape that he ought state his objections, of
which he bad many, to the measure under consideration in a
regular manner..
.the CHANCELLOR of the EXCHEQUER said he was
not very sensible of the obligation conferred upon him by the
Right. Hon. Gentleman, winch was to give him an opportunity
of combating his (the Chancellor of the Exchequer's) proposi.
dons. All he could say was, that he was very ready to take
any course as to time to meet the Right lion. Gentleman fair ‘e
upon the point, if he would britu forward u specific motion on
the subject. %Viten the alteration of the law of merchant and
factor n'ai discussed, perhaps that occasion would afford the
Right Hon. Gentleman an opportunity of expressing his views,
bot lie could not think that he had been so wanting in opportu.
aides for the expression of his opinion as he had stated. At
any rate he must not trust to lam (the Chancellor of the Ex.
chequer) to bring it forward, but do it himself, and then he
should be quite ready w meet him. -
Mr. MANNING was understood to say diet it would be
MUM agreeable to the merchants and manufacturers if a Corm
mission were to ,it.
Sir F. BURDE'II` said that the conduct of his Majesty's
Government had been any thing hut that which would inspire
confidence. It appeared to be a subject on which strong shades
.ef opposition existed, and on which Parliament could not come
40 a conclusion without the fullest information, and therefore he
regretted that the lion. Member fbr the City of London (Mr.
Wilson) intended to withdraw his motion, because he should

have preferred that the relief should have been given direct, and
he could not but express his sorrow that it should be done in
any other way, and that only because one of his Majesty's Mi-
nisters had said that he would not adopt those measures which,
on former occasions, had been so beneficial to the country. Why
they should choose to adopt such a course as was now pursued,
when there was so obvious and easy a way of proceeding, it was
not easy to imagine. The House were called upon to'give an
immedi ite remedy without having any knowledge of the details
on which it was called upon to decide, and he could not see why
the House should not have the advantage of reflection and
thought on a subject of such importance. The Hon. Baronet
said he would as shortly as possible state the observations he had
to make, because some better occasion might offer on which to
state them more at large. He did not concur with any lion.
Gent. in thinking that it was possible for the country to return
to a metallic currency with the line of policy pursued by his
Majesty's Ai iniaters—they could not pay the debt. In the state
of public distress under which the country laboured, hie Ma-
jesty's Ministers ought to have brought before the House a re.
duction of all the establishments—as that had not been done it
ought constitutionally to be demanded of them, for public opi-
nion in and out of the House was in favour of a reduction of ex-
pences. It was not treating the country fairly, it was not treat-
ing the country in the manner in which it we+ entitled to he
treated from the sacrifices it had made on all great and trying
occasions. The measure taking place at all was the only sug-
gestion in which he could- perfectly concur; but he must say
that it was quite astonishing that his Majesty's Alinisters,
seeing the panic that had occurred, did not at once come for-
ward and submit a measure to Parliament for relief; and it
was not more extraordinary that they should now turn round
and do that indirectly which they had in the first instance re.
fused to do under any circumstances whatever. The issue of
Exchequer Bills, or sonic such Government security, would
have been the best means of affording relief, and he was war.
ranted in that assertion because it had been often tried. The
question surely was, whether the country should continue to be
distressed, or whether relief should he aflbrdcd by the issue of
Exchequer Rills. It was the opinion of all practical men, from
first to last, that an immediate issue of Exchequer Bills would
be the best means of affinaling relief.
Mr. BROUG ILA NI rose to express his regret that the mo-
tion Was to be withdrawn, and he entirely concurred with his
Hon.'Friend's near him hi opinion that if the Measure ofrelief
watt to be afforded, ft ought to be, done tkrousit his Majesty's
Government, .and not in the menner proposed, which must
doubtless haye.been greatly to the surprise of the Bank
Mr. Secretary CANNING said that he 'did -not rise to pm.
• long the discussion, but lie must say that the opposition made
was not a common one, when there was no question before the
House on which they could come to an issue; but when the
opportunity did arrive, he should not be backward in meeting
the Right lion. Gentleman's arguments and observations. In
the first place, the proposed measure was not the same as that
of the issue of Exchequer bills, nor was it connected with it;
and in the second, the question of issuing Exchequer bills did
not rest *upon prophecy, or upon the ground mentioned that
night by Hon. Gentlemen on that (the Opposition) side of the
!louse. The propriety of issuing or not issuing Exchequer
hills had been examined and considered by, his Majesty's Go-
vernment, and it was their opinion, as resulting from that con-
sideration, that it was not their duty to give relief. lie should
be fully prepared to justify the conduct of bus Majesty's Alini-
sters from any thing contained in the arguments which had
been advanced ; and if' the Right Hon. Gentleman (Mr. Tier-
ney) was so anxious to express his sentiments, a motion would
be shortly before the House which would enable him so to do.
- Mr. TIERNEY staid he would avail himself of' the oppor.
tunity. Discussion was all he wanted.—Here the matter
dropped.
EXCHEQUER BILLS IN MD OF PUBLICWORKS.
Mr. EL DICE rose to make his promised motion, and ex-
pressed his satisfaction to learn, front what had fallen from his
Right Hon. Friend (Mr. Tierney) that it would give him an
opportunity of addressing the !louse. The lion. Gentleman
said, he could not bat think that if his Majesty's Ministers
had come down- to die !louse, and after the delivery of the
Speech from the Throne, stated their intention of furnishing
Exchequer bills, they would have restored public credit and
public confidence, and have given the greatest facility to the
measures which they intended to promote. Having stated so
much on that subject, he would proceed to state the grounds
on which be intended to move for the papers of which he had
given notice. It would be- in the recollection of the House
'that two Bills had passed the Legislature empowering a grant
of Exchequer bills for public works, and for the relief and em-
ployment of the poor. The amount of Exchequer bills issued
to those Commissioners under those Acts of Parliament
was three millions. All the issues mulct these Acts were
made by tire Commissioners, and he found, on referring to
the documents on the table, dint the Commissioners pad
advanced money, not only in relief of distress, but also
in furtherance of mercantile pursuits. They advanced
money to support the working nif mines, in aid of fisheries, and
even to maintain the credit of a great hank in the North, on the
pretence that it wits intimately connected with the mining and
manufacturing interests of that .part of the country. Now he
thought that the relief of such embarrassment as we at present
experienced would be as legitimate an application of our funds
as any of those advances to merchants to which the Commis-.
sinners had given their assent. It was for this reason he had
made his motion. Some meanshad been taken, it appeared,
by Government to relieve the general distress, which would be
hereafter brought tOrward. Ile would not, therefore, make any
remarks upon it, but he thought that the House ought to be
put in possession of the conduct of the Commissioners, and their
management of the funds committed to their charge. Some
securities had been given to them when they made advances,
which might solve by way of precedent for the future. lle
would theretbre conclude by moving for " an account, in de-
tail, of :di advances and issues of Exchequer Bills by the
Commissioners for Public Works and the Relief and Employ.
mt nt of the Poor ; stating the times when such advances were
made, and the amount of interest paid thereon, together with
the names of the parties and nature of their securities ; of all
repaymentit on account ot' the same, and the balances now due;
of the amount of Exchequer Bills accruing, unapplied, and at
the present disposal of the Commissioners.'
'The CHANCELLOR of the EXCHEQUER would say
but few words; he had no objection whatever to the motion
of the I-lon. Gentleman so far as regards the general tenor, nor
to any part of it except that which called for tine names of the
parties who applied to the Commissioners for advances, and the
nature of' the security which they offered. This clause he con.
sidered liable to great objections, and he believe.! the House
would feel at once the reason of his dislike. He doubted even
whether the Commissioners ought to specify these particulars,
if called upon to do So ; neither were these details indispensably
necessary to the object qt' the motion. lie hoped, therefore,
that the Hon. Gentlenian would consent to omit it, as being
mare likely to hurt the feelings of individuals than to promote
the public interest.
Mr. HUME did not believe there was or could be any ob-
jection to time terms of the motion, nor that the Commissioners
would feel any repugnance to make these disclosures. Ile had
himself formerly moved tor an account of public money granted
in a similar manner and for similar purposes, and that ac-
count, specifying the name of the parties and the aunts they ob-
tained, was then lying on the table ; nor could he conceive how
individuals, when the public advantage was cantemplated, had
any right to complain of the disclosure of their names.
111 r. ELLICE said his object in requiring the names of the
parties was merely CO nee whether thus 'funds had been well ap.
plied, for since time money was intended for public purposes it
ollowed that .whoever held it was to be considered the trustee
of tine public.' lie
,did not wish to have the names of parties
any farther titan was necessary to prove the proper application
of the fonds. _ _ _ •

bit.; trusted he should not be thought Irregular,
if he now made, a few remarks, which' he bail intended to offer
upon the motion of the lion. 31ember for the City of L0nd0n.....
But in consequence of that motion going off in a manner to him
wholly unexpected,lie had lost the opportunity. He now un-
der Stood that some arrangemcnt had been made by the Bank for
the relief of the distress, and he supposed that explanations bad
been given which he had not had the advantage of hearing.—
There appeared to be only one point on which they nil agreed—
which was, that the country was in Et most deplorable state.—
The fact indeed was certain, that never before had it been in.
vnlved in such deep and general distress. Ile hoped that it
would be the. only object of all parties to strive to alleviate that
distress. Ile had thought that an issue of Exchequer Bills
would have done more good than any other measure that could
be resorted to, as it would have shewn to the country that Par-
liament did not partake of the foolish and absurd panic which
prevailed throughout the country, anti was the principal cause
of the distress. He agreed to the abstract proposition that the
interference of Government was a thing to be avoided ; but
however broadly that proposition was laid down, it was still
one to be qualified according to circumstances, and the practical
question was, whether there was not in the present circum-
stances of the country enough to justify a departure from it.—
A distinction was attempted to be drawn between the circum-
stances of the year 1793 and those of the present day, on the
ground that the distress of that period grew out of political
atfitirs, and not out of overtrading like the present. But who
Was it, be sivv.ild be glad to know, that led the way
to this
overtrading :,t) much as the Right Honourable Gentleman oppo-
site and the Bank. The language employed last year was ghat
of undoubting confidence in the firm and solid anti increas-
ing Prosperity, and he. thought it rather bard that Ministers
should now turn round and say to the parties suffering dis-
treas, that they were intitled to no assistance whatever, simply
because they had-placed reliance on his opinion ; and were
Government then blameless respecting the increased issues of
the Bank ? Who was it that drew the Bank into the bargain re-
specting the dead weight? Who was it that obtained such large

advances upon Exchequer Bills ? And if Ministers had not
suggested to the Bank the lending of money upon mortgage,
could it be . denied that at least they had warmly applauded
that measure ? It appeared ter him therefore that Government
had led the way to all the distress. Let him call the attention
of the House to the situation of the holders of 4 per Cent.
Stock. He had lost one-eighth of his income for ever; he had
,lost besides 14 or 15 per cent. of his capital, and that in the
glow of an artificial prosperity which was not to last nine
months. It was true he had the opportunity of rejecting Rie offer;
but put it in the case of trustees of children, and Aerie. An
injury had been done to them quite out of the reach of Exche-
quer Bills, or of any other kind of relief. If the merchants
were now to be told that they ought to have foreseen the present
situation of affairs, he would tell the Right Hon. Gentlemen that
he had not foreseen it himself; or if he had foreseen it, how
could he vindicate his conduct to the holders of Four per
Cents. There had never been an occasion when relief was more
necessary, and never one when the restoration of confidence was
so easy or so valuable. There was nothing but the absence of
confidence to prolong the distress—no external pressure, no ex.
ternal commations. The evil consisted entirely in panic,
and people would not be persuaded that there were no good
grounds for panic, unless by the interference of Parliament.—
When the 3 per cents. had been the other day at 96, and were
now reduced 20 per cent. was not that tact alone sufficient to
occasion panic.' The fact had been that we had been giddy,
front the eminence to which we had been forced. As to the
proposed measure, he slid not find that any body advised or
recommended it. The case was like that of a person applying
for assistance to a friend, which friend said, " can do nothing
for you, but there is a good-natured gentleman in this neigh.
hourhood, and I will give you a letter of recommendation to
him." Such bad been exactly the conduct of Ministers. After
they had received application upon application, they betook
themselves to reading, for the first time, the Bank Charter,
and then they found out that the Bank had the power of lend-
ing money upon goods. The Bank Directors were not, how.
ever, very eager to exercise this power. They thought it rather
a permissive power than one intended to be acted upon. The
Bank had been perfectly right to get all the powers in their
charter they could, and had shewn great discretion in avoiding
as long as possible the exercise of this power. If the possession
of this 'power by their Charter wits enough to justify the exer-
cise, why then he could chew that they might properly buy and
sell land, as an express power to that effect was contained in
their Charter. The Right Honourable Gentleman then con-
tended that Commissioners appointed by an Act of Puha-
mew would have administered relief more beneficially than
it could be administered by the Bank. The latter had no power
to administer stn oath, and could not investigate therefore so
well the trite grounds of any application. They might, for
any thing they could know, be administering to speculations
by the advances they could make. The Right Hon. Gentle-
man then contrasted the powers which might be given to a
Parlitimentsry Commission, with those in the possession of the
Bank. Whet, he asked, become of the two millions al-
ready issued for the purchase of Exchequer bills. They had
disappeared—without having done any good. This was suffi-
dent to prove that it was not want of money that occasioned
the distress. Why was any ,ereater advantage to be expected
from the issue of the three millions upon goods now spoken of t
The object was to restore confidence, and to draw out the
money which was hoarded and locked up. This was not likely
to be clone by Ministers staving off' the difficulties from them-
selves to the Bank. He asserted the advantages of the meas.
sure adopted in 1793, and as a matter of speculation, but of
history. What would Ministers have done if the Bank
had refused ? • Would they have sent back the Gentlemen
to Manchester and Liverpool to diffuse black despair through.
out die country ? If the measure produced any good, the
whole credit would he due to the Bank of England.—
What would Ministers say to their favourite argument of en-
couraging speculation now ?—that they had opened the gates
of the Bank. What an extravagant power it placed In the
hands of the Bank. When they came to have their dinner re-
newed, what claims they would have acquired, upon the grati-
tude of Mercantile-Men in that House ? The distress was rather
encrensing than diminishing at the present moment, notwith-
standing all the Bank had already done. Nothing in fact had been
interposed to prevent destruction but the conduct of the Bank.
They had done every thing—the Government nothing. They
had opened the floodsgates of their issues —in December, and
then as soon as Parliament met, the Ministers said, out with
two millions more. But alt had not Inspired confidence, and he
feared it would not be inspired by the present measure. There
must be plenty of money. It was prude, and the consequent
general disposition to hoard gold that they wanted to purist of,
and with a view to that object the measure was nisre milk and
water. Ile wits persuaded that the good sense of the country
was with hint, and two millions of Exchequer Bills would have
been preferred to these three millions of Bank notes. The
Bank Directors even did not expect touch good from it. It'
combined all bud things. There was the interference which
Ministers affected to deprecate, and there was moreover a new
tie to the already too doee connection between Government and
the Bank. He did not affect any particular veneration for Mr.
Pitt, but he was unquemtionnbly a man of large and compre-
hensive view.; on a subject of this nature he was, without
doubt, a high authority. Upon this occasion, he was a Pittite.
He again urged the danger of the advances of the Bank finding
their way to the wrong men, and being abused for the purposee
of speculation. The conduct of Government was, ill some de-
gree, the cause of the present distress. The 11. and 2/. Bank
Note Bill, although he warmly approved of it, had prolonged
and aggravated the digress'. It must be heart-rending to a
man, separated from bankruptcy by a very narrow line, to be
told that any assistance would be withheld, because it was con-
trary to principle. But where, he ;should be glad to know,
was the difference, in point of principle, between an issue of
bank notes and an issue of Exchequer Bills ? There was a
great many good and worthy men now in jeopardy, and' fir
God's sake do not let the Chancellor of the Exchequer have to
reproach himself with having stood aloof' when he might have
saved them.
The CHANCELLOR of the EXCHEQUER said, that if
any reconsideration of the subject had in the slightest degree
altered the view lie had at first taken of it, there was no con.
sideration which would induce him to adhere to his original
positions. lint the more he heard, the more strongly was lie
convinced of the soundness of the policy adopted by Ministers.
—The Right Hon. Gentleman had stated his case with perfect
fairness and without the least grain of asperity. He had
nothing to complain of in that respect; on the contrary, fie felt
that the Right Hon. Gentleman was entitled to his thanks. The
Right lion. Gentleman had said that the language of Ministers
had inspired a fallacious confidence, and had thereby contributed
to the growth of the speculative excesses which were the
main causes of the evil, and that it was their duty, there-
fore, to provide a remedy. It might be their duty to pro.
vide a remedy; but did it therefore follow that it was
their duty to provide any particular remedy, unless it
could be clearly shewn that the particular remedy was
better than what they actually proposed ? Ministers had been
charged with reducing the rate of interest artificially, in order
to facilitate certain great financial operations. But if they
referred to the timer; as which particular acts were done, it
would appear that there was no foundation for that charge. The
reduction of the 5 per Cent& took place prior to any of the
transactions to which the extensions of the currency had been
ascribed. The Finance Committee of 1017 had looked forward
to the reduction of the interest of the-6 and 4 per Cent. Stocks,
its likely to produce a great relief to the country. And when
the price of the Government Securities admitted, to the measure,
it would have been utterly unpardonable m have neglected dee
opportunity of saving an annual charge of 1,400,0001. The
Small Note Act, and the Half-pay and Pension Act, both
took place subsequently. There had been nu collusion be.
tween Government and the Banks; if there had, it would have
been a direct fraud upon the public creditor. As a proof of the
determinetion of Ministers to avoid any thing like fraud, be
would remind the House of what took place in the commence-
ment of 11124, when he had announced his intention of reducing
the interest of the 4 pei Cents. fie had been advised in that
House to reduce the rate of interest upon Exchequer Bills. To
this advice lie had refused to listen, upon the express ground
that any act of Government at that calculated to reduce
the general rate of interest would have been a scandalous fraud.
This, he thought, afforded a practical proof that Government
bed not been disposed artificially to lower the rate of' interest,
to eflbet that which the natural course of events would not enable
them to accomplish. The night Hon. Gentleman had referred
to the precedent of 1793, and had talked of it as an established
practice. If it was to be the established practice, it would
make Government the bankers and the pawnbrokers to the
whole community; it would teach men to depend, not upon
their own prudence, not upon their own resources or those
of their Mende, but upon the assistance of Government. Tile
and those of' the present
blteitgwhetelnl on
the elciastioufotla7l9l3o,wed for the great difference
day. In the year 1792, the Government thought and proclaim,
ed that the country was in a state of more secure peace than it
had ever before been. The war which broke out in the year
1793, had taken every body by surprise, and Mr. Burke
amongst the rest, and was attended by eircumstences which
"Alvtleioiutgah proeperity to which the nation
character totallyheigt unlike that of any former war.--
precipitate and increase it.
appeared to have reached in 1792, might probably have been
followed by some degree of revulsion ; yet it was evident
broke
ea
otuvatrinofusou3c,h:
ma
unsattigirreeatal character as that which
year 1621,
Again, he would contend that time distress of' the
although in its intensity, and mode of action it might bear some
resemblance to that winch was now felt, yet it was produced by
very different causes. It did not arise then from general
' overtrading, but from eeeeteaging in one particular branch.
By the anti-commercial decrees of Buonaparte, and the seta.
bating measures adopted by this country, our commercial

dealings with the Continent had been entirely suspended, and
at this very period the markets of South America were first
opened to British enterprize. It walk hardly possible in this
concurrence of circumstances,.that our merchants should not
avail themselves in an excessive measure of the new opening
which South America presented to them. The circumstances
of the present case were totally different from either of the
formeik If they adopted the same mealteire, they would be fol-
lowing mitsbad example and setting another. It would be to
go on in a vicious circle, at the risk of being at length strangled
in its folds. The landed interest at the period of agricultural
distress had claims as strong as the commercial and manufac-
turing interest at this moment, and that interest had not been
less urgent in its applications. Ireland again, in a period of
calamity might, it had been thought, have been much relieved
by an advance of 1,000,000/. for the draining of bogs and
the cultivation of flax. Then in 1823 the West India interest
applied for assistance, and indeed the nature of its distress
was identical with that of the present crisis. It arose from
want of confidence, and it was confidently alleged that the votes
of that House had contributed to produce It. They had been
urged in the name of humanity and of patriotism, to interfere to
avert the impending misery by which that important interest was
then threatened. The language then held to the planters was,
that the interference of Government might indeed afford them
temporary andimmedinte relief; but it would only be leading ,
them on into further embarrassments. What would have been
the effect of listening to these successive applications but to
transform the Government into the general banker and pawn-
broker of the country. No man, not even the Right lion.
Gentleman himself, thought the interference of Government a
good thing per se. It was the everlasting plea of necessity.
A plea the most dangerous—and if they did not shut their ears
against it, he did not know what might he the consequence. Sup-
pose they had lent 4,000,000/. to the landed interest, 1,000,0001.
to Ireland, to drain bogs and cultivate flax, 5,000,0001., which
was the amount applied for to the West ndia Planters, hey
would now have had to contend against not only the precedents
of 1703 and 1811, but the added precedents of 1022, 23, and
24. How, in the faCe of these multiplied precedents, could
the present application have been refused? And if granted,
in what situation would Government new be
.placed ? It
would now be an advance upon loan to different iuterests, no
less than 16,000,000/., and it would, besides, have surrendered
out of its hands all power of refusal for the future. The Right
Hon. Gentleman had said that they were now doing the same
thing only in a worse way. He must contend that it was a very
different thing. The Government not possessing the power,
must have procured a law to give themselves that power. The
Bank already possessed it. He would ask then, if the very
absence of that power on the part of Government, was not an
indication that the exercise of it had not been considered a
function which could properly or safely be committed to its
hands ? lie would ask, on the other hand, if the existence
of that power in the Bank of England, was not, at least,
a primary indication that they might exercise it without any
great danger or inconvenience. The distinction appeared as
cleat to his mind as it was obscure to the mind of the Right
lion. Gentleman. But in point of fact, would the Bank have
had nothing to do with these Exchequer Bills ? How was it
in 17;13? They went into the Bank and were cashed, and the
seine course would now be followed. It would therefore he
placing the Bank in a very awkward situation. It would not
be safe to talk about five millions and expect' to issue only one
million. The Bank would have to find money for a quantity
of Exchequer Bills, to the issuing of which it had been no party.
—But suppose the Bank to refuse. The effect of the refusal
would be to throw them upon the market and depress the price.
Now what would be the effect of this upon the revenue ? The
first application for an issue of Exchequer Bills had been made
in December lust when they were at a discount in the market
of 85 per cent. Now it must be recollected that the discount
in the market constitutes an inducement—a premium for pay.
in them into the Exchequer on account of duties, and at
whatever amount they are paid in, to that amount the avail.
able revenue falls short. The Bank might thus at last be
compelled to advance to Government in consequence of their
issue. When he said compelled, he meant that sort of moral
compulsion, arising out of time danger of suffering the machine
of Government to stand still. It was plain from what he had
said that no relief could be given, without the Bank being more
or less directly a party. Then with regard .to secresy, he con-
feesed himself unable to discover any' ground for this objection.
A man in the possession of solid property could surely not suffer
in his credit by his wish to obtain proceeds from it. Somebody
had talked about an oath to secretly having been taken by the
Commissioners. lie could safely. assert that there had never
been such a thing. Then it was said that it would be disagree.
able to apply to Directors, they being themselves mercantile
men. His answer to this was, that in 1793 the Commission of
Sixteen bed been composed, with the exception of two, entirely
of Merchants of the City of London, and that it had included no
less than three Bunk Directors. Why it should be supposed
that the same Gentlemen were to be communicative as Bank
Directors, but as close as wax when Commissioners, he could
not make out. The argument about secrecy be could not con-
sider of any validity. The Right Hon. Gentleman thought they
were still more bound to give relief, because their measures of
this Session had produced the evil.—This was an extraordinary
statement ; in December last, Ministers had been applied to
for aim advance of Exchequer Bills, when they were at 85
discount. He thought it was an extraordinary time. But
it was surprising after this to hear any Gentleman ascribe
the distress to the measures of time Session. However, relief
was not refused. Government had chosen from two different
modes of relief that which it thought least objectionable.—
The measure now proposed, called upon the Bank to execute a
function to which by law that body was competent. They had
never thought that they were to stand still with their arms
folded, and refute to do any thing. They had adopted what be
must consider the most simple, easy, and natural course. The
Right Hon. Gentleman had complained that Ministers had not
used any language of a cheering nature. 11'hy if they had
affected to treat lightly, or to undervalue the difficulties, he
was convinced diet they would have drawn upon themselves a
more severe attack, and indeed they would have deserved it.
He concurred, however, entirely in the confidence which the
Right Honourable Gentleman had expressed in the energy and
strength of the country. He felt convinced, that the springs of
prosperity still reteined all their pristine vigour. Though some
of time branches might have been struck, the tree of our pros-
perity would still shoot out its vigorous roots in the fertile soil
in which it was placed, and spreadingrabreei new branches,
quickly resume its former beauty and grandeur.
Mr. BARING contended, that an issue of Exchequer bills
would have been time best mode of relief. Ile complained of
the delay which had taken place. If ever there had been a
case of which the adage, " Us dat ui cito dot," was uppll.
cable, diet case was the present. Till his Honourable Friend,
the Member for the City of London, bad assumed his im.
posing position under the gallery, nothing had been done.—
lie could not help thinking Mr. Pitt a great authority upon
such a subject as the present, even though, us they had been
told the other evening, his genius was in it state of eclipse. Ile
censured strongly time measures respecting the small notes, on
account of their effect to contract the currency, and give a further
shock to credit. They did not get rid of a bad example by sub.
%tinning the flank in the place of the Government. The Hon.
Gentleman compared the existing difficulties with those of 1811,
and contended that the case was stronger now in favour of an
issue of Exchequer Bills than on that former occasion. Exche-
quer Bills would have been to large dealers what the usual cur.
rency was to the small ones, and the Right Hon. Gentleman was
therefore in error when he eupposed that they would generally
find their way to the blank in order to raise money. The repug-
nance of Government to interfere had aggravated the calamity.
Ile had no apprehension about the ability of thellank to advance
three millions ; be khew they were well able to do it. In the
present state of time foreign exchanges they might make an un-
limited use of their capital. 'they had been forced into a corner
by the Goveroment, and although they assented to its proposal
with manifest reluctance, he was fully sensible of their power to
comply. With respect to die Bank, he had for sonic time the
honour of a seat as a Bank Directpr, and he then looked into
the Charter pretty often. But ho never was aware that it gave
Bank
in cases
rt
alaestt;ist:
owfda
Ice();
them the power of lending money upon goods. And he would
now say, that no man could read it with fairness and candour.
er intended to bestow such a power. It was
Itiadnt
evidently the sole object of the clause in question, to provide,
ds g
should bedaelplomwiettcal toi useltlimteheiml a nitfl snooft there-
deemed. Tide was the only interpretation the Bank Solicitor
would put upon the clause. But if the Government forced the
Bank to adopt the principle of so advancing their capital,
the moment they did that, they destroyed the security of the
banking system. If the Chancellor of the Exchequer wished
to establish sound principle and sound precedent, so far would
he be from doing that by inducing the Bank to lend money
upon goods, that he would be inflicting the greatest injury
upon the sound principles of banking. But, however, Rome-
thing was necessary to be done in the way of relief, and this was
better than nothing ; and though it came late, and must now
do less good than it would have done at an earlier period, he
trusted that much benefit would be derived from it by the com.
menial world. Ile thought the commercial body had great
right to complain of the manner in which they had been held
at arms-length by the Government, and treated as if they were
unworthy of attention. One part of the plan mentioned by the
Right lion. Chancellor of the Exchequer, was to admit the
operation of the new law of merchant and factor in 2 or 3 months.
When this law was passed, time Lord Chancellor, with the care
which he usually bestowed upon any departure from establish-
ed laws, said that he desired to give public notice that the per-
sons to whom goods were consigned would be enabled to pawn
them by this measure, and therefore the time at which it was
to come into operation was fixed for next October. That was at
least an honest determination to give warning to foreign mer-
chants of the situation in which they would be placed by the

new law. But he could not say that it was equally honest' now"
to come forward, after that warning had been giver4lo Aorta
the time. He thought, therefore, that the Government would'
have acted with a better grace towards those merchants if they
had not approximated the time at which this law was tolake
effect, nearer than the period originally fixed. Respecting the
subject of secresy in applications for relief, he thought the re-
port of the Commissioners of 1793 proved how desirable it was
considered to be at that time. The Hon. Member then read a
passage from the Report, which stated that all the communica-
tions with merchants upon the subject of advances were de-
stroyed. He contended that a Bank Director was the last man
to whom a merchant would like to make his difficulties known.
This proved that a Commission would have best met the nature
of the case, and not only have been more acceptable to the
commercial world, but more adequate to the restoration of ge,
neml confidence. He thought that his Majesty's Ministers had
most ungraciously retarded the application of any, relief at all,
and that it would consequently be very much diminishedln its
effect now that it was to be applied.
Lord ALTHORPE confessed that the question did not op
pear to him to be one which ought to be much affected by cone
siderations of precedent. He thought that the universal and
deep distress of so many classes ought to be a claim for relief
paramount to any such considerations whatever. He agreed'
with the Government in their general measure for establishing
the currency upon a sound footing, but they ought to have re-
lieved the i mediate distress at once, when they proposed to
provide a remedy to prevent its recurrence. Whatever might
be the intention of the words of the Bank Charter, it was evie
dent that the measure proposed by the Government was an un-
usual, and an untried one, and that they had preferred it to
another which had been proved to be good in its operation. •
Mr. T. WILSON did not wish to have said any thing fare
ther upon this subject; but after what had fallen from the itight
Honourable Chancellor of the Exchequer; and the Right 140:
nourable Secretary fbr Foreign Affairs, he was desirous of
offering a few words in justice to himself, to chew that he had,
not proceeded upon light grounds to express his disapprobation
of the measures of Government. Every one had a right to
choose between extremes, and to adopt either of the two mea-
sures which had been proposed to the' House. But Fie thoeght
if the least popular one was preferred, it was due to the nation
to state the grounds Upon which that preference was given w it.
An idea had been held out that thiS measure would give satis-
faction to the public, and that to apply to the Bank for accome
modetion upon goods was no more objectionable than to ask it
upon bills of exchittige. It • had also' been held out in another
place, that the accommodation now sought would only be wanted
for two or three months. 'He did not think that Onyintin, Pos-
sessing practical information, would be bold enough to venture
upon such an opinion. In a case of general national distress
like the present, relief would come with infinitely better effect
from the Government than from any private individuals filling
the office of Bank Directors. There was one ground taken by
the Right Hon. Secretary for Foreign Affairs, of whichhe
world not go the length of saving, as another lion. Memo
ets.
had (lone, that it was unconstitutional, or absolutely
ful to Parliament. But when the Right lion. Gentleman, in
a case of great national calamity, attached no value to the opi-
nions of those who, from sufferings and experience, were enti-
tled to attention, and said that if the sentiments of Parliament
and of the country were unanimous in favour of a measure In
which his opinion did not concur, they might take the power
out of his hands me seek those who would carry it into eifecstefei
he thought it was at least taking too high a ground. lie coe
not help thinking that the trading communities of the country,
disresp,
the shipping interest, the agricultural interest, the Inaeuf
hiring interest, and all to whom the present distress extended,
had been treated with a neglect and levity which they had not
deserved at the hands of the Government.
(heMr. AT WOOD said, that if the House would considerthe manner in 'which the case had been brought before
vernment, they must see that the whole body of the commie
and manufaCturing interests of the country was in a s
which if not relieved, must be entirely destructive to corcV.
cial credit. And what was asked of the Government?
that they should grant the applicants a boon, but only the
means of circulating•the wealth they had in their po session .e 7
The channels of commercial circulation were choked up, gr.
the currency was to set that
they only, called upon the Government to open them. aee,":
Right Honourable Secretary had said that the measure aM
was confident that question would never be 'set at rest as
long as they, attempted to maintain the ancient standard 01
value in conjunction with the enormous weight of debt anu
taxes under which the country was now endeavouring
to
question at rest for ever. De
stagger on. The Right Honourable Gentleman had thougba
proper to disclaim any servile adulation of Mr. Pitt, and s",
that he would never follow him in consenting to a restriction 01
, Cash Payments. But what was the value of the Bight 10°'
Gentleman's assertion that there should be no more bank
striction Acts? When the collie-a of the Bank were empty'
restriction came as a matter of course, and could be stayed b/ 2s
"
the Rilgoohkt lion.
00t
man. • But Mr. Pitt and Mr. Burke were only to be woroldl'r
as great luminaefes, when their acts coincided with the viewl'e
onlyilentotiettnheang:
they were to be considered in eclipse. He wished the I°7
would when but
this that
in
measure
ren otntlhige;ictsien.;
feet, but also at the price they were pitying for it. lie we': atlas
fident of being able to prove inconteetibly dint the pa nic 'n f
commercial world had been produced by the forced hones °
paper by the Bank.
Mr. W. WH ITMORE had no hesitation in saying, that In
dot
his opinion the measures of his Majesty's Ministers were the
best that could be adopted under all the circumstances of
case. It was his most decided cnnviction, that this measure
waa
for granting relief through the means of the Bank, wag
much better than the issuing of Exchequer Billet tirs.
it would increase the circulation, and give a generadus ha
proved facility to mercantile transactions. Exchequer l _es
believed would be more beneficial to individuals, but the eip:e
vances of money by the Bank would he the best meastlree!oe
that ts 1
affording general relief to the country. It had been said a
which were
vernment were not warranted in opposing measures wa.
strongly urged by Parliament and the country at large, mew
though they were not convinced of the propriety of sue
mires. Now although lie thought the opinione of that Sweet
and of the people at large ought always to be considered worth
respect and attention, yet when Ministers had adoPted a del
of measures which they believed to be right and goo' , sup.
were bound to stake their reputations and their places in der
porting them.—(Cheers.)—He intreated the House to cosintho
every thing that fell from the lion. Member who aat °„, one
same bench with him (Mr. Attwood) as emanating rains
Au-
paticular theory, of which that lion. Member was not t ead to
thor, but the principal promoter, and which would only lebseke
national bankruptcy—(Hear I)—it would lead to nationalliouse
ruptcy, and national bankruptcy alone—(Cheers)---If the the
were prepared to abandon all their pledges, and to forfeit
,d.
honour and credit of the country; then let them adopt tau of
trines of the lion. Member. If ever that unfortunate
l'etrahlet
circumstances arose which rendered such a calamity
he would say, let them meet it honourably and oPea'Y ' ad at
ini
would not consent to be a party to any course win" )1' upon
such an object by crooked and secret means. lie called us
the House not to be induced to abandon his Majesty's Ministoto
in the measures they had so laudably commenced. ne %%bey
state openly that they had his confidence, and be thouglitee, s
deserved the confidence of the count fie said this
decided conviction of the beneficial nature of their ineaststee'
9
He had no connection with the Government, and it v/14 say
tremely improbable that he 'ever should have; but be eve't, ea
that in his opinion the country never had an Administrat'°,,, of
calculated to develope its best resources—to lead to rot ui: sell
the power which it formerly possessed, and to carry it t°,- the
greater and more glorious extent—and to benefit, not on, tore
interests of this country, but of the whole world. Ile
withdraw
cautioned the House against being induced hastily to 19t"td him
that support and confidence by which the Government int
therto been able to carry their measures into effect.-
Mr. ATTWOOD explained.
unttl
Mr. P. MOORE said, that all the wants of the lie at.;
were comprised in one word, and that was confidence. • _of
tributed all the distress of the country to the transachonteho
the Stock Exchange. Then the question was—what eerehele
to do with the Stock Exchange ?—( Laughter.) r_tei
something of their proceedings in that Pandemonium--f
arneels m t,
laugh)—and his Honourable Friends around hint knewr
of them as he did.—(Great laughter.)—Their p
find a d°.
were regularly transacted, and he knew where to
mestic broker at a moment's notice. (Laughter.) being
elected their members, and if any one went there, nee
eir.":„.°
a 'member, he was pushed, and thumped, and kicl:lro
strio
(Continued laughing.)—The Gentlemen of this Panel ea
transac.
attempted to over-rule the Government and all the eeeas
tions of private life. His Majesty's Ministers had the
to put them down, and the Lord Mayor and Alderntea_ .:bo
the power to put them down. Well, then, what lear,eweols
done ? Why he would tell them. Make him Lord
their
Alta.).- •
and he would put them down at once.---(Loud laue
ieing thett
, would not consider that the Government would be aso.
at p
duty, if they did not stop the gambling schemes of thtints
monium, as Sir Richard Birnie did those of the establos •
hi Pall-mall. with re'
Mr. ELLICE explained as to certain observations ,test
AnY
gard to the expediency of issuing Exchequer bills. won hO
increase in the circulation of Bank parer, he said, !e_.ooolo
sure to bring back the crisis. lie had loped that a wnTiopeet
disagreement would have taken place between COY!' 11$11R
and the Bank; but he was now sorry to find that tn:tiieely
became the instruments of a half measure, which was /be OW
to prove so beneficial as the other plan proposed for t
tion of Government.
The Motion was then put and agreed to.
PROMISSORY NOTES BILL., Svcs tl4l
The CHANCELLOR of' the EXCHEQUER P"