The Sun.
London, England, 1818-02-04 00:00:00

FINANCE.

I Lord CASTLEREAGH said, he had no objection
to bring on his motion immediately, if it met
. with the approbation of the House. He thought
the House wotdd see the, importance of loing no
time in reviving the Committee oil the Income
and Expenditure of the country. Wha,ever dif-
ference of opinion might exist on the subject of
any particular measure between the Gefolemen on
the• opposite side of the House and him, he be-
lieved it would be admitte-d. on all hands, that
.no Committee had ever performed its duty with
more fidelity and activity. He Might, perhaps, be
allowed to infer, from the few questions of, im-
portance that had been raised on the i.uggestions
which they thought fit to offer, that their reports
had .been snett as the 'loose. autl the Country had
'desired
,und expected from them ; but, at all evengs,
there could he bit( one opinion as to the extei,t
of, the..ingniuy whickt they had made, and as to
importunee. They had taken a view of all the
[Mises of emolument held tinder Government,
and particularly of those who had bevn
though not always properly, Sinecure Oflicei.—
.They had inquired into the Army, NaVy, and
,Ordnance fAtituates.k. and ►bough "they had lot
considered that the House imposed (Ton them the
'task of saying s hat should be the amount of each
establishment proper to be retained, they hod al-

• • ti.
r 6, (Iv,: the Else inforMation, at'`.,r •
panted this with •many obser.vations,
brod.,ht lbe Subject within cltir limits than ber,'
tOfore, and witich would he found very 101:
When it shotiid be discuSSed'in that Ho''''e'
the test plaeo they had • t aken a general vit'u. rf
the ex stench( tire and incOme a the e.ootry,
itr
order Ito squat e. t item whir each other, and
shew what they Were likely to be hereafter,' at'
.c
they had the ineiit of havitig presented the 1-10,0-,c
with a very clear view of thi.most complicateti (~r
all subjects. TheY Were 4til: proceeding °l°
labours, tool would have,accomplisbed more.
they had done, . biit for the rising of the 11"5e;
briefly stated what had been done.by
Comuott ee, it was i;oW for him to 'peak Of "ht'i
h d had been one by Crovernm ent •consequen" t
the teporta of that Committee. On the nrese",,
oecasion it was not, his jutention to go into
rninttle details,. but should the Committee
re-appointed, it would be the duty,
verriment: to . state to tlietit. what bad beCI
done pursuant to their recOmmendation, Ito
why Some things bad not been done. 1%
won(1 say more, that when they bef"rl
the House he was confident it would. be seen tl'a
Miniiters had been anxious to give early ,effect
is
the reports of the ComMittee. The grounds
which, in.eertain special cases, they had not acre(
0
on them would he laid before the Commi:tee.svh,
would, then have an opportunity of re•-c Onside
the cases seferred.to. At the time- he
the first formation ot this Committee, be liatf
stated that he was Hot sanguine enough to exPIL'"
",
it could termioate its lahloirs in im r
e yea. '"'
was of opinion they Might he required for a ss`:
and possibly :or a third. After a vc"r
such magnitude and extended dnration,as tital
have just closed, he had thought it.likely
much time might be requited to satisfy the 11°.'5:
erbat was the extent .4 the revenue alt'l expe°l-'1
titre to lie calculated upon in a time of Peace, 3/1.,
what the measures necessary to be Rthiptol,
only to keep from running back, but to seeul
the means tOr effecting an iatportant reduction (I
the national debt. When he had spoken thus, ''l;
Hon. Gentiman (the Member for Braintier)
objected to the protracted inquiry, which the L":-
guage he had refer' ed to seemed to that 11'n"
Gentleman to announce. He, objected to the (lc
lay which be expected would follow from the 31rf
pointtnent of a Committee, whose labours n'i^d•
not close forr three years, as if be had apprebe" t
that nothing would be done in the mean time. v-
,
~
thought it had been shewn by the Reports of I"
CoMmittee, and by the measures of the Go veTnnit"T'
that this fear was
.not well-founded, but he ".'l9
anxious that it should be seen what flirt ber could bit;
done within tire period of which he had spoken.
would be trespassing on the time of the House to 'r
oi into
stlioen samely?:jc
l h
c) se,tt h
ofi sotig
statements ennet:esosri
rat
last e preyticealt
year'
y
when moving for the .aproiottnent trt this tet2ii
roittee„ The 'subject which it had been appoint°,
to investigate, having by its labours hecu.litoogh;
within a narrower compass than it had been fotni4
in before,, the House might flow expect its attesti
tion to be directed to the details ra'her r!'.
the ontlinc. On the improved state of Ireland lie
spoke spoke with much satisfaction. The manner Ito
which that country had itml4
~0, the ).ati:
season ot calamity withn„, .triv ilro..fsi„,l
for the relief of the poor, ‘71,,...4 trlt!al
pleasure and surprise. The spirit of ebe'",?;
Solid benevolence displayed on the part of I"-
higher orders had drawn the bonds of r"
cial attachment closer than ever tocy had
fore been drawn in that country. lie bored
la:
an early day the attention of the House
Ty
directed to the increased or dirninished exVo'
lure of the last year, when it might- be disclose'
with the advantage not only of the former Ile.
ports of the Committee, but. with that of a
plententary Report. lie concluded by
the re•appoietment of the Committee of last
.
to inquire into the expenditure and income or
country for the years ending January 5, 1617,
January 5, ISIS, and so tar as the same can
made out, to make an estimate of the income
expenditure -ot the country.for the year 00i°'
January 5, 1819, and also to point out what f""
Cher reductions can be made without detriment to

the public interest.
While the list of the Members of the Comma'
tee was being read over,
Mr. BANKES remarked that one Right il()".
Gentleman (Mr. Tierney) had not been named tirs.,
the committee last year (on account of ill heal'!"
who Was capable of affording the most itnportan
services where matters of finance were tiod&
consideration. As the former cause for his ou:
settee no longer existed, he hoped ,to see 0).6
Right Hon. Gentleman in the Committee this

year.
Mr. TWICEY said,, if on any particular occit•
sion he could afford the Committee any inforto3'

tion, he should be happy to give them every flsi-
sistance in his power ; but though' he was
recOvered from his late indisposition, he 'feared 11
he gave his attendance to the Committee in the
c
morning, be should be • uniqual. to the duty 01-
the evening, and should therefore feel obliged :g,
the I-louse would excuse him. Ile wished it td
be understood that on no other -account did be
wish to decline b.ing on the Committee.
Lord CASTLEREAGH Irctithititil the House thiA
constitutionthe Of the Committee was not 5(101 -1
as tOpreVeut ally Meinher being' called to assist
its deliberations. Much benefit bad been derived
from the cotti;e pursued in the last- session, (6'4
of inviting Mittibers in uliicial situ3tions to givti
such information as it might be in their power P°
:Ilford, and as this had been found the most CO'
venient way of conducting the inquiry, be had 110'
doubt that the Committee,. when re-appointi
would be glad to derive assistance from Gruele'.
men, who were not .members of the same Co.,To'.

,tnittee.
Air. BANK ES aought the calippon a pae.ui,f: e f
fieer different front (bat of a private Memb, t 0
tie house. The former might be called t`'
attend this Cominittve, but he hardly knew I.o`c
.
a person holding no oftke, and not being ono or.
its INletr.bers, could be present,at its sitting bGt
an idle peison. theretore could wish Ih"(
the trAnie of the light Honourable Gentlero'"
should be added to the Committee, or dint; the
Committee should.have ti power of int:tea-11,1 14
-numbers front to time. Such a power he thutil't

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..d.; to !heir uttriihr; 'Members tVitri vtiorrid be
.uf e'uderirig'fir., portant stryiees
„1,1 FTR e SP,EAK uirtd if the Right Iron. Gen,'
e,:n4:ll;kv,i:b..,';(4to I.)i es's. his' siiggestiOn on. the
n oton'?• •
dOhlig•ao,, and the
proposed WRS.pttand agreed.to;
khe toMmitiee reappointed.
Mr
• DROPPEI) OnDERS.-
G
' •
,„ • RENPRLL Was titlCltit to bring forward
-”ltnion'res.peetio.the Bank-note's now in circula-
tion, when g
~l
tie.PEAKER retninded the ilitaitse that he had
ft little time before s„,r,,eled exi*tiiencY Of
diVosing of the dropped orders. Ile had collected
that
lt was !he duty of the Elouse to do so. It
Might - -
e a questi,.m micolvr auy Of then) should
"bt in neeeGd With that -evening, hat he consi-
dered it ,to be his" duty to read over time list.
Mr. c. vt7
'v. YNNIE wished to know if a Stem-
v:ho had a question which stood for the day,
17'1 the right of ptiority it be ello'se assert it
s"ch illember chose to waive his right, the
w'roPped order
might be taken up ;.
t the right
as with nun whose motion stood tor the day,
t i
l'e Might claim priority over all the dropped
I,lle "'.I)P,PittRR liad very little doubt of the cot.-
of the Hon. Gentleman who had iu,t ad-
I'tf":ied and wouldmot rely (Ilion ally opinion
tLs °wit in opposition to hint. m'nly e'l
41etdleet what the Ilt;use thought tvoilid be Ino,:t
i rtits nwo convenience; Peihapi, in the first
I,e ought to call on the floe. Gewleman
‘:„")-e stood next .fur t day, to say what
‘,(hst• 11,,, was dispsed to. take.
GRef4p,,,Ll,, wished to do nothing in
Ititil3,l' to the House, 'but in the present. instancr
was only a Tiestiol of ptiority, and he was
to give way till the dropped orders had beet,
.lit of, or to proceed immediately otter
b'e few observations with which be intended to
irf4ce his motion.
t Jlr• Pit it..LtPs wished to know wren the Noble
t 'lt opposite would name the tilne tor moving to
the Papers concerning the internal state ot
le country to a Committee ?
titcd CASTLEREAGH said, he should fix the day
itlure the Iloote ;kujourned ?

BANK RESTRICTION.
he lionse seeming disposed to postpone the
• topped Orders,
'GRgIVFELL brought forward Ids motion.
eJethinded the House of the intimation which
; R'Yh''"l'recently eceiVed front the Chiineellor ut
I.,.:xehequer on the subject of the Batik 'Re:-
ir-etmn Act. This intimation had not surprised
Ile had never douliedbat, on some grounds
nt,ke, the cont:nuition of the Bank Restric-
t," Act Would be projtitsed by the Right Hon.
ii,ehn.tlettian in the course of the present Session.
\i'lzs he had more than once stared to be his coo-
and he had constantly expected that some
five them
would be laid bolo of by Government to
front keeping their promise—that pro-
last
se which they had so olten made within the
hat, three years. The 'promises of Ministers
`)"'n acetone:doled by the solen4l az.stir-
-14,e1i of the Bank that they were not only
V "tad willing
" to pay in specie t.then the Bank
attic
they •qtt Act should cease to operate, but that
tiva) "ctle most anxious and impatient I .r the ar-
ty ti the time. When they shoold be permitted
suet
veer
[louse to resume their c Paynients., If
i
ttl t eh' their wishes (and sin h they h hat, _vets at-
nf 01° Ile
by Mr 11,irmati), might not toe Directors
tti!ait' Bank come to that House, am-vat to them
It— tt Ministers, and call for the repeal of the
tienst'iclion Act ? As a Member of the Corpora-
-4." he Shoi,ld most heartily join in such an ap-
titoclalion. Let them come then to Parliament,
.thPetition to he relieved from that situation in
tl ,„ iet
'hey had been placed in 1797. However
ildelit have profited by it, they Might plead
ba." it had made (keit an object of suspicion to the
ti°4• Titer was, however, no prospect of such
4„ a e
fat PPneation being' made ; for stoppittg payment
r,l`7enty..one -years, which would have involved
":71 "11€ c Cot4tpany or concern in insolvency and
14'1, 'had proved to the Bank Company a source
cr,`PoWer, and prosperity. bow-
ev
they did not consider the Act undur which
!ph was done was passed to benefit them—
-00)cl' accused Government of .having passen for
Thi(2l it'"rposes'eontiected with ,:their own interests.
be had licard from several, and, in
from one friend of his who was in
"nce,
. ,taking a part, as he believed, in 'those
',octal operations which were to make it ueces-
. 'Pr to contirme the Bank Restriction Act in force.
Front) others of the Bank Corporation he had
tieavd said over and over again, that the restric-
t" was not intended for their advantag
th e, but
Pl4Osed to Parliament merely because it suited
e
convenience of Ministers. It would be curious
4tni not useless, though he would not do it now,
to truce the different grounds, and various al.-
latnents, by which this measure had been detemled.
,1311 the several occasions of its re-enactment.
Strf-
',tee n to say,the measure had now hecn enacted eight
tilnes. He would-take the Mier! yto express a hope,
, • before the Chancellor of the Exchequer again
Proposed its renewal, be would at least subject
the affairs of the Bank to an inquiry similar to
that .of 1797. .He slightly touched on the argu-
'bents formerly urged in. support of the measure,
hone of which 'were, in his opinion, so futile, so
flhnsy, he had almost said so insulting, to the 11'1-
41-standing 'of the House, as those which had
been addressed to it for the same purpose on the
present occasion. Were they now to be told,
'that because France, A ustiia, and to. those he
had heard Prussia ad.led, wanted loans, and be-
Cause .certain great
_houses, Rothschild's and
others in this capital, were desirous of assist-
ing them, that to enable them to ' do this,
the 'evil of which Etigland had so long com-
Itlained during the war was to be con-
•tinued in titne,of peace ? Did not ci
the —omit:el-
:lot. of the Exchequer know that the renewal of
'the Bank Restriction Act would give increased
facility to the transactions of which he had just
'spoken ) He could do nothing that would favour
7thent more ; and he (Mr. Grentell) would take
upon himself to say, that if the Bank were to re-
,s!tme its payments in'eash, not a shilling of Bii-
tish. capital would go out oUthis country to furni,li
the loans now about to be raised. Why then, under

these.elrcumstances, he would contend that the
tneastrre about to be brought. forward, tt ent
fact, to give a bonuty on the transactions in. (Ines-
tion. lie did not mean to say that :he trade in
motley ought
.ttOt to he open, like any other trade,
nor did he contend that British subjects ought
to. be prohibited from placing their money, if
they were disposed to do so, in foreign funds ; he
would have the money trade perfectly free, but
child it he maintained that it was so, while ;the
Batik Restriction Act was continued in tome
maiutaincd that it must not, and if of two
things he could only have one—if he must decide
between cash payments anti foreign loans, he
would say he preferred
,the former,..and tvas con-
tent to do without the htter. HC Would oppose
foreign loans solongfis ttie Bank delayed the re-
smiiption of cash payments, lu the arguments
used its oppositinn to him, and in
,support of the
Bank'Restriction Ac(, the elect was mistaken tor
the cause. So long as a country had apairer cur-
rency not convertible at pleasure into the rrtcions
Metals,, soi!ing would this state of things bring
the exchanges against it, and vice Versa. Ile ar-
pied ar sortie length on the exteut of the evil of
which .he complained, and on the importance of
promptly:seekin: the remedy, as he was certain
the sooner tVe returned to a metallic currency
the better would it he fOr the country; and the
longer the present state of things continued, the
more dienciiit wotda it he to return at last., Such
-was the view which he took of the stikilect. If it
were a wrong one, he was in error wittt all the
great statesmen
.and distinguished writers who had
given it their attention, from the time of Mr.
Locke down to Dr. Adam Smith, and down to
the late Earl of Liveipool. tic concluded by mov-
ing for an account of the total weekly amount of
Bank Notes and Batik Post 13i1k in circulation,
from theilst of January. 1817, to Feb. 3, 1818,
ilistingoishing the number of Bank Notes under
the valve of 51., and the total amount of the
whole.

The CHANCELLOR Of the EXCHFQUER said, as
iviien the measure which 'had been referred to
came before the Uon.e there woold be frutlicient
opportunities for going info the subject, he
should decVne entering into it non,. lie should
'offer !It') oprioSition to the present motion.
' The motion was then aureed to ; Hi were otliPr
Resolut:ons moved by Mr. GRENFELL, which
carted for a great variety of pipers dmi accounts
connected with the subject.