Star.
London, England, 1830-05-24 00:00:00

The Monetary Lan of 1819.

This statute repealed the legislative protection of the Bank, and
altered the standard price of gold (a commodity regulated by the
amount of money in Europe, and not In England,) front 11. ls. ts
31. 17s. 10d. per ounce ; and Government, doubtleu, in ream.
mending the measure to Parliament, were desirous only of restoring
the sound metallic currency, and of promoting the welfare and th.
best interests of the community. A change, however, in the polit:.
cal situation of other nations, and the interposition of varioe•
events, which could not be controlled or foreseen, have frustrated
their endeavours, and rendered the operation of the Bill, for tit
moat part, unavailing; nevertheless, the reproof imputed to Mini.
tent, in this respect, is evidently misplaced, and consequently on•
merited.

The Act of 18224 permitted Country One Pound Notes to paw
current ten years, until 1833, and at the same time obliged th..
Banks to continue to pay their demands in gold, or, what is pre.
cisely the same, in Bank of England paper convertible into gold.

The Act of 1828 ordained the extinction of the Small Notes on
the sth of April, 1829, (without any concurrent measure of relief
for those in whose behalf this paper money in 1822-3 was re-intro•
duced,) still the Banks, in the meantime, paid their demands in
gold ; hence, a paper and a gold money, of the same denomination,
circulated together for a period of about seven years, subsequently
to the Act of 1819 ; and now, with the law in full operation, we
have a sound metallic medium, and low prices,* in some instances.
and partly from this transition, to the extent nearly of 50 per ant.
Oa the Advantage of Brehequer Bills to Government, and to
Country Bankers, front the improvement in the Banking syi:c..
I have recommended.

The Country Banker, by being enabled to hold Exchequer DIE'
to meet his demands upon any emergency, would obtain iflitTo!.
by laying out money in these securities, and would be prepared fc
any run upon his establishment; besides, he would acquire the
means of reducing considerably the amount of his stock appropriated
to the service of his agents in London; and he would, at the 5.. n.:
time, render such Treasury paper pre-eminently useul to the (ir•
vernment, and promote the operation of their financial arrangcmat,.
By contracting the issue of liktdsequer Bills, and extending, uprz
this principle, the circulation of such only as would be requisite to
supply the ordinary purposes of the State, an extension of pow.
hitherto unknown, would devolve upon his Majesty's Government
and enable Mistletoes, with peculiar facility, to raise what 1,4714
then night regsdrefer the wake of the year, independently of the
Bank qf England, and without any embarrassment to their monel
transactions with that establishment. W.

• See a Pamphlet on th. state of prices, entiled, The procr.;
operation of the Am of Parliament of July 1819."

Field Marshal Lieutenant Count WA tmon EN e 14'1
commands at Milan, passed, on the 10th instant, througt
Wurtemirerg. He came from Vienna, and was going
to Loudon. He is said to be charged with a speed:
mission to the Court of London. Count WA L MOP Nis
the descendant of A distinguished Hanoverian family.
The PITT CLuns are all expiring sub silentio, an
the approaching 28th of May, the birth-day of the im-
mortal pilot " wbo weathered the storm" is, it seems,
to pass over in Leeds, and in other places, in solemn
silence. Very well, there's an end of that bubble'
Even the London Pitt Club has measured its days; and.
" in consequence of the precarious state of the Knit,
health, and out of affectionate regard to his MarEsTY.;
the anniversary dinner will not take place this year."
No, nor the next year either.—heeds Mercury.
On the night of the 15th inst. Miss Smithson took a
sacre to carry her home, but the coachman, instead of
proceeding in that direction, drove towards the country
the actress became alarmed, opened the door, leaped out
of the carriage, and left the coachman to continue his
route, without taking the trouble of paying
him the price
of a jaunt that threatened disastrous consequences.—Fi-
gal'O.