Star.
London, England, 1830-02-09 00:00:00

The question of the currency had been touched upon by many
gentlemen who bad very different views respecting it. He was
not going to enter upon it at that time, but he must admit that the
withdrawing of the small note circulation, however much be con-
sidered it as a measure of sound policy, was still one which bad
been productive of much suffering. He had concurred in It on the
ground he had stated, for he believed that the continuance of that
currency would be productive of evils much worse than its removal
bad created; but that the removal had created more distress than
bad been anticipated, at the time, he could not deny. (Hear.)—
But he did not think that the evil was such as to create a main
ingredient in the present general distress. It was said, in answer
to the objections against the removal of the small notes, that
there was at present a greater money circulation in the country
than existed when the notes were issued. That might be
true ; but then it did not circulate into those minute channels
through which the notes passed, and by which much activity
Of business was kept in small towns. It was in those places
that the loss of the small note circulation pinched most severely.
He did not think that the distresses generally felt were the
effects of the removal of a paper circulation, nor did he think
those he had alluded to more particularly as the effects of the
withdrawal of that circulation in small towns were hopeless
of remedy without the recurrence to that system. The distress
of the manufacturers he admitted to a certain extent ; but, compar-
ed with the condition of other interests, they were in a state of pros-
perity. It was no proof of distress in manufacturing districts to say
that business was absorbed by a few large capitalists, for these
things should be considered in the general state of the trade. If
that which was formerly done by band was now performed by
steam. or power looms,—if machinery was made to supply the
place of manual labour, however much he might wish that it were
not so, yet it must be taken with all its consequences ; and if any
particular manufacture fell in this way into the hands of a few,
it was like the breaking up of the small farms and turning them
into large,—a matter with which the legislature could, not in-
terfere. The trade or agriculture must still be considered as a
whole, without reference to the minor changes which may have
taken place in its mode of management. He would now say a word
as to another subject which had been introduced—he meant the
general one of our foreign policy ; and on this he owned be differed
widely from theme who blamed the government of this country for
non-interference in foreign disputes. Some gentlemen who from
year to year spent their summers in travelling on the continent, and
who did not meet in the several towns through which they passed
with all that attention which they considered due to them, took it,
forsooth, into their heads that Englishmen were not respected, and
that the English name was brought into contempt, because its
government was not constantly interfering in every squabble in the
continental courts.—(Hear!) In the policy adopted by France,
Prussia, Austria, and other continental powers, many things might
be important in continental affairs, which to us, situated as we
were, ought to be matters of utter indifference. It was sufficient
for us to take care that danger did not come too near our own shores.
Undoubtedly, our long relations, political .and commercial, with
Portugal, rendered the affairs of that country matters in which we
were interested, but this did not-extend to an interference in her
internal government. It was true that the person who now occu-
pied the throne of that kingdom was a disgrace to the crowned
heads of Europe, but nevertheless he (Mr. Baring) felt grateful to
our government that it did not go to war for the purpose of re-
moving him. He would prefer that the authority of the other
claimant of the crown should be recognised; but why we should in-
volve ourselves in war to procure the recognition was what he could
not see. Nothing, he believed, was more generally acknowledged
by all parties than the expediency of adhering to a specific policy
in the present state of the country. (Hear, hear, bear.)—
Amongst other topics he could not overlo ik the happy results
which had followed a late important measure for restoring tran-
quillity to part of his majesty's dominions. lie alluded to the
complete pacification of Ireland, and was gratified at length to see
the conclusion which bad been put to that solemn mocker y so long
subsisting, in defiance at once of the legislature and the govern-
ment.—(Hear, hear.) On the subject of our relations with Mexico,
he could not express himself with so much satisfaction. Wbik
that country continues in its existing anomalous and unsettled
condition, it must be placed under the temporary domination
of one military chieftain or another—such as Santa Anna or
Bolivar,—and various evil., which will more or less affect our-
selves, must ensue. lhose who venture money would of
course be obliged to take their chance; but such a state of things
must necessarily prevent the growth and settlement of their civil
establishments, and the capital invested by English merchants in
mines and otherwise will be so far embarrassed, if not put in
jeopardy altogether. The attempts on the part of Spain to recover
her colonies had already proved unavailing ; and he thought it was
now high time to see a proper footing established from hencefor-
ward between them. We at least ought to have observed a consist-
ent course of conduct between the parties. If interference was jus-
tifiable in the case of the Mexicans as assailants, we bad surely an
equal right to interpose when Barradas made his descent from the
island of Cuba. This project was executed so late as 1819, and
yet with no better success than before. Since 1825, when the
declaration was made, no change had taken place, although the
interval consisted of no less a space of time than seven years.
The whole political world were now satisfied to conviction that
the efforts of Spain had been totally abortive and unavailing, and
that the question was therefore solved against her. He hoped that
the right hoe. gentlemen opposite would be induced by those con-
siderations to use their most earnest persuasions with the Spanish
monarchy, in order to attain a permanent cessation of hostilities.
According to the present tone of ministerial arguments, it would
appear the principle of de facto government was likely to be main-
tained in the caw of Portugal ; and if so, undoubtedly the same
argument would apply here. Mexico likewise bad a defaces go-
vernment, which was undisturbed by any of the attempts, which
had been hitherto directed against it. Before he sat down,in jetties
to the ministers, be must say, that judging of the general operation
of their measures throughout the country, he could discover nothing
of au unfortunate character, which could with propriety be laid at
the door of government, and he should on that account. be sorry
to see the administration embarrassed or disturbed.
Mr. AT I'l% 0013 said, that he by no means agreed with the
opinions of the honourable gentleman, who seemed to think that
an the measures of the existing ministry had tended to promote
the general interest of the country, having been the result of de-
liberate wisdom and prudent political calculation. In sentiments
couched in such sweeping and unequivocal terms, be could rot
acquiesce. The notoriously distressed and disastrous state of the
British population offered, in his judgment, a decided contra-
diction to so unmerited a panegyric. Our general impoverish-
ment was very easy of explanation, being mainly attributable to
the change in the currency, as .d the consequer.t alteration of the
value of money. That single measure had imposed an addi-
tional burden of la, 50, or 40 per cent. on every man in the com-
munity, in all cases of deed, mortgage, settlement, or contract.
He regretted that his bon. friend had deemed it fitting to indulge
so much in a laudatory strain, as, for his own part, he should wish
to witness more of modesty within doors, and leas of vituperation
without. Every one was by this time aware that the nation, in
general, entertained but an humble opinion of the wisdom of Par-
liament. The people reproached their representatives collectively
with inefficiency for the adequate discharge of the grzat functions
which were imposed on them as members of that house. The ope-
ration of the legislature bad originated the distress, and were also
calculated still further to increase it.
Mr. THANT said a few words to a similar effect. He wished
to know what was to become of the farmer, or bow he was topic
a livelihood, when told by a high parliamentary authority that
over-production was the cause of all his di
Mr. M A BERLY was of opinion that it would be highly impo-
litic for the legislature to extend a remunerative protection to the
agricultural interest, any more than to those who were concerned
in cotton, iron, or linen. He attributed the distress of such
numbers of the people to the local circulation ; and in practical
In his elaborate treatise on political economy, Mr. Ricardo, if he
swptStcionhattthemobe tcelrewrectansashascarnd,:tiofttirulesocullgotho reconuatittliteimnsvgpkteiollnee owfcoethureeldkpildnzemciial.,
naturally competed with capital, and in the end produced low
had explained the principle by stating that
rewhareenrbgbreeraetdandrighopguly'ent nations had a redundancy of wealth, capi-
tal
distress would tie-
pthreoficotsuutotrythemigwhotrkconingthicluaestsehse.
same,public
come. He apprehended that the people would foe a lon m suffer
verdict's arise. To this state of thilnlige,usnaihthisoopughthionth,ewewhadealthnoowf
could not exchange it profitably in other parts of the world, and so
from
the
lowtw
two. if
;ousnrdiayboeturpewrhearpesrheigmhu
hp
er ircaet se
de
a.:
tr e
ht geg h gwr ti
mesne eve
bad would become worse. As to steam machinery, be couside
red
we were chiefly indebted for our ability to pay taxes. He ord,
in conclusion, that Ministers would adopt his recent suggest:a
it a principal source of our prosperity. In tact, it wastohit that
Mr. HUMB that loafers the house should be called on
auwithraurkesspinz
that
currency, as it would prove a material relief to
to cuge the Illidaters woad lay before them a states:wet
Ihn expenditure. The custom
hal bum see auk eiglested otiCtasyssts, but he expected that a.
=l"en=rl view of ways and means would on this aces
It was thee rend *it. the bows should resolve Itself into a
eanunkteeenstninewers M eilmider the same question. _
Oa the miles of Mr. Lasts, a Dew writ was ordered r
member to se in Parliament for Koaresborousb, in trine room
of the RW, Hon. George Tierney.
Mr. ORMNIE moved ter leave to bring in OW tot(*)
remelabkwatabk;
candwats ellivlap in Inland and Wales to eater _
-'441/1$ ter dmir dibss, by apeman with the owners of