The Sun.
London, England, 1811-07-16 00:00:00

riiiith ski.kti'ci; ItA.i,iTif4i4i

Fretielt assighats of forrner days, did ROnnuritile
Geridenten recoil:el; that if a Frenehman hel too
many of those ass:gnats, he did not know What rah
do with thee, Cele:. on the other hand; the whole
cif the pdper is.ded,hy the Bink of England re-
verted to the Biclicyder four time/ in they ear
The French assignats were a forced ciretili. hey
were issued to supply the defi:leney in the revenue.
Wee that the case with the paper issued by the Bank
of Ettgl it'd ? The B:uik Director. die net force;
they telly' fed the circulation. 'They !lever issued
paper hut. in exchange for good bilis, Or Govern.'
meet security. in his opinion, the Bank had acted
meet cotrectly and- judiciously 1 but even when its
ally instance the issues had been at all eicessive, the
evil corrected itself.' A proof of this occurred dur-
ing the ciimmeeviel failures of last }!ear, to relieve
winch the Beek increaud their tiesees twee lea.
lions but in 'the course of two otehree months;
tamely from D:cember to February; she retiefebis.
the afforded, it returned .to its regular limit. The
issues of the Bink were paid for by those Who
eeived them. The Bank did not throw their
per at- people's heads, or stint it desen their pee.
keis. Eveiy one who -received it un security paid
6 per cent. for the accommodation ; and no macs,
would pay 5 per cent. lot that which was' not a di-
sirable acquisition. Fur his part, he should be test
happy as any one to set the country again in pos.,
tessien of a mixed circulative e Of gold and paper.,
But, when hies recollected that in Me, the. Leeiee•
letter: thought fit to enact the beak llvsitiction
Bille..wlien he .found that for twelve years after
that enactment,. the, exchanges with foreign cottn.
tries were in favour of:Great Britain, and that if
any inconvehiences were felt horn the Supposed
depreciation of paper, they were at least not conk.
plained Ot--when lie observed that. it was only
during the tWo last years, in consequence of the'
injury which ,otir 'trade had suffered, that the
b dance of payments with foreign countries, and
ultimately the exchanges became • against us—and
then, when •he heard Gentlemen declaring -that
Beek paper was depreciated in co:m*4%9*Lnc of the'
restriction on cash p Intents at the .13. ink, advise
hat that rest rittion should beinunediaielyabolished,
l+e confessed himself wholly at a loss to conceive
the grounds on which a declaration, and sorb advice
were founded. As to returning at the present Wu•
meat to a mixed circulation of gold and paper, it
ass impossible. It would he impossible fur the
Bank, either from the stock of gold which teey
(ight already have .111 their cotters, or ft (eel that
which it' would be in their power to procure Ingle
the Continent, to tllaialaiD such. a circulation. It
was sant, that tetre was plenty ol gold in •4uropeeee
but as this couniey had- no free ceinutercial inter
course with the Continent of Eeroee,. how teas that
gold to be procured )eWhaecoulci be given for it ?
We could not bey gold with geld—that would be
owless. could not buy gold with lutes, tor
notes Wet*. for • domestic circulation alone.—The
principal art ides of trade in wbich this count! y &tilt
were cloth, coffee, and sugar. - Bet whither could
we send these articles To what.'port on tie Cote.
tinent could e hey be a.signeeti tvery, body knee,
the dirticciiiee under whioteout.. trade laboured; and
the itneossibility ..olicoietigning ,;to theleCutititeint
such aeltunitity of goodeee Britielt iiianufacture, oe
of art tries at /heist, producet-ae mould pros ire at
return a large quantity of gold. Hue not an lierte
Friend of his, woo was- weleversed in these matters,
said, that if he -were required to procere teensetlas
Coo tinent Jere thousand pounds- worth of egeld, he
should
.not ktieva: how to set abont.it? • What .was
to be done? 'Why the uoutittymuot coutinue to
couteht•wikb that species of circulation Mitts vehicle
it had already been tonteot for t it-years, and by the
aid of which its internal prosperity at last htelbeets
protnoted in aneuoexempled 'degree. It was .oft
lei. principle, and-with this. feeling that the bullion
discussion terminated.. But a new question , had
arisen. A Noble Lord .(et whom he by no inentis
intended•to speak distespeceully) had cle.lired that
he must have gold twin leis tenitniesin pa}rnept of
their .ientse and- this he had deelgred at a period
when there weshh.gold. in Atte ceeintry, and i.vhttt
19r tourtennyeareall the internal tniusacrions of the
country had been satisfactorily coated on by a, paper
currency ! The Noble Lord's teases hail been gr.,itited
sn.ce the patting of Itle lihet - Restriction Bill. tie
would ask any man who heard blur, .and who lied
greeted a lease since the entice:Meat ut that rucasure,
whether-he tad ever expected ilio tent under Such a
lease, to be paidereanyethiligebec paper Certaiirly
net. Hot what was to be done 1 Mtfity the teattnity
of the country must be piotected. They must be
defended from the liaoility ot 'hating their goods
taken out of their hottiesebeetithe they did neeptiy
that which they could . nutegetto jay .wrth. Arid
were landlordseo be allowedeu distrain tete if
their weenie -did not pay in gold, what 4ould ,t hey
procure tly such distreiteing taut palter' ? la this state
titlheotinwgisio.' tiimetutteititielVd"; caliilitclkoefhPO4dfelistii:lrlseentit'
41:410,was petstunted, that -lte never should
regret the vote-whit') it waseeis intent-leo to giveeet
tilts present occasionee He wtis never inure, ea tidied
Witt;-any tote which he had gisitteiii hits hte, thee
with thee which he had telt it his dray to give en:
the bullion question., altlieugh in talit';‘,lS 1111 lie pre.
Reatitlientsl were itThlirect,oppesi.
titan ;to rthose [tatty of his-Hon. FitcirdS.- He
begged those Hon. Friends to consider what', might
be the effect oVietivingttlit wirole tennittry're pre.it
.liritainett the itate.tit iiiticertritrity in whist<h they at
present stood: 4b.tivrioil.fo,e ;:indlord could ex,-
trai:t guinettie troutetsts- tetiatit, what uotild fie do
with theist 1' he 'must -either melt .than. cir . Xport
theme He meet send, them either to the ct;ueible
or to the chaett, Tir-Home" had tweet, indeed, that
the Irish terteket would be open. Teat might be.
-Bet evenitetem cast: lea ciel ten thitile that an he.
glieh Goithleteen weeld be well employed iti
Aracting gold trorn•hia tenants at a kit to them of

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