Star.
London, England, 1823-04-29 00:00:00

CALEDONIAN ASYLUM.

The friends and supporters of this admirable In-
stitution dined together on Saturday, at the Free-
masons' Tavern. The Chair was taken by Lord kite-
NORCHY, supported by Lord SALTOUN, the Earl of
BREDALBA NE, Sir JOHN SINCLAIR, and numerous
other distinguished individuals.
The cloth having been withdrawn, the usuaLtoasts
were drank with strong demonstrations of loyalty.
The Children of the Institution were then intro-
duced, and paraded the room in their Highland cos-
tume, and iu the strictest order.
The Noble CHAIRMA N rose and said, that be la-
mented the duty of advocating the cause of these
poor children had not devolved upon some one more
able to do it justice. The boys whom they saw
around them, with very few- exceptions, were the
orphans of soldiers and sailors who had fallen gal-
lantly struggling fur their country's glory—(Ap-
iilausr.) Considering, therefore, that they owed the
greatness of the British name, and the security of
their lives and property to the sacrifice of these he-
Ots, he was sure they would willingly acknowledge
the debt by drinking most heartily " Success to the
Caledonian Asylum.'
The toast was drank with great enthusiasm, and
the boys sang " Scots wha ha'e" very creditably.
General TURNER returned thanks in the name of,
the Institution with much feeling and eloquence. He
described the funds to be in a flourishing state.
Lord SALTOUN rose to propose " The health of
their Noble Chairman,7 and to express their thanks
for the talent and the zeal with which he supported
the Institution—(Great applause).
The toast was drank with fervent applause.
Lord GIENORCHT, in returning thanks, said, that
to be zealous in furthering such objects as those of
the Caledonian Asylum was not a merit, but the sim-
ple discharge uf an imperative duty. Indeed he should
consider it a disgrace to be less zealous than he was
in their support—(Applause).
Sir J. SINCLAIR health having been drank, he re-
turned thanks, and expatiated upon the honourable
distinctions of the Highland character. All over
Europe the Highland garb was a sure passport to
respect and esteem. He concluded by proposing as
a toast. " May they never forget the costume and
honour of their ancestors."
The health of General Turner and Colonel William.
son, two of the Directors, was drank, with thanks for,
their active exertions in behalf of the Institution.
General TL'l.i returned ;hanks.
Several other distinguished supporters of the
danian Asylum were toasted, and severally rectum*,
thanks. A handsome Collection was Made.

The Earl of LIVERPOOL could assure the Noble
Lo: d, whose anxiety on so serious an occasion was
perfectly just, that he 'believed no expense had been
spared, nor had any stretch of exertion been wat►t-
icb, on the part of that munificent establishment
known by the distinction of the Bank of England,•to
realise the hopes of that Company, and the expecta-
tioni of the Public, with regard to the prevention of
forgeries in imitation of their accredited notes. After
no inconsiderable labour, and after from twenty to
thirty thousand pounds-had been spent for this me-
titorious object, and when a certain note, supposed
and proncninced to be inimitable, was produced,
what, in reality, had been the result? Why, and
within the space of twenty-four hours, this new note
was imitated at.once., Tiros were all the expense to
which the Bank had been successively put, and all,.
the trouble it hadtakert to insure an inimitable note,
entirely lost;• and the most effectual step, under'
these circumstances, was to withdraw the one pound
and two pound notes from circulation, which had
been nearly done, thus leaving no smaller than five
pound Bank notes. •
Loid KING contended, that the current Bank
notes were most unsatisfactory.in point of execution.
If this paper were compared -with that issued by the
North and Scotch Banks, engraved on steel, their
Lordships would instantly see the inferiority of the
Bank of England notes.
TUE PENSIONS BILL

The Earl of LIVERPOOL then moved the Order
of the Day, for summoning their Lordships on the
third reading of the Bill entitled, ".An Act to con-
firm an. entered into by the Trustees,
under an Act of the last Session of Parliament, for
apportioning the burden occasioned by the Military
and Naval Pensions and Civil Superannuation, with
the Governor and Company of the Bank of England."-
Lord KING, upon the question being put, re-
minded their Lord,hips that the present Bill had now
arrived at its third and final stage; and so highly
did it appear to rank in the estimation of its Noble
Mover, that the Noble Earl himself had not thought
it necessary to say one word in its defence. But lie
(Lord King) had the misfortune to view the measure
in.an unfavourable light; for, in his opinion, it was
a most foolish and hurtful measure. To the very
Jews in the City it presented a stumbling. block, and
to Ministers it was Omer fooli.shness—(Laughter).-.
What, for instance, could be imagined More foolish
than for Government, when,the funds'were low; la
conclude such a bargain with the Bank of_ England,
by anticipating the contingencies for a period of tithe
years? Suppose it to rest upon thecontinu,alice of
peace, then the bargain coulsi pot be a4iantitgeopi
and, in the recurrence of,hostilities 'it preoccupied
the resources of the country ; and;tl;etefore, in either'
case, no such bargain ought . belie he'en'
We bad heard alternately of y era of traniiildn'ftorti
war. to 'peace, and also of year's of c'Citillaiati4e
scarcity and. contrasted. .s.upo•rib it nOne4 bne this'
year had. ditert4 iiiinkiritirectnryears=tinfanickn
. .. • ..

. .
~

a year of dupery, in which his Majesty's Alinivers
had been duped by the Bank anti duped by the
Bourbons.. Bad, homever, as their plan actually
was, Minister; had not done justice to its principle;'
for, upon that principle, it was doubtful whether they
might not have raised ten millions a year, even for a
century to come. He could regard the present Biil
in no other light than es an experiment to compro-
mise between Loans and a Sinking Fiord. Depre-
cating this species of legerdemain in finance, he must•
describe it as more. worthy of eonjutors than Mi-
nisters. 'He should couclude with moving, as an
Amendment to the Bill, " Thaothe Lords Commis-.
sioners of his.Maiesty's Treasury be directed to ex-
tend the operation. of the proposed Act,. by !Acing
thus authorised to raise ft orn the
.Battit_ of_Asigitedi
• a sum not exceeding ten millions each year, and
every year, b' the operation Offelled Stogie -Cur
one hundred years"—(Laughing); '." '' - --7
• .Lord.BEXLlLY;sonahis Amendment being ppt,i4( -
fended the arrangement' made between his Majmty's'
Goverment and the Bank of Englerd, as tenAng to
equalise the burthens of the country, by diVidilig'
them over the interval of forty-fire years. lie would
admit that such an adjustment might have been ob•-
jecticinable in former times; but when their Lordships
looked to the amount of taxation borne by the present
generation, there appeared no tml-airnessiti buttipg
off the bklance to the period of forep6ire rears, when
it was to be hoped that the deattl on posterity
Might cease. Wi:h this division of burthens; we be-
queathed ,to,our posterity not only a great accetsfeti
of military glory, which had been acquired by the
war, but also such an ascendancy in the Councils of
Nation's -as Would enable us to ptes.erve that peace,
which, it was to be hoped,.would repay all oursacri-
fices in the attainment of it. We hag borne the
weight of three hundred millions of taxes ; and he
could not adroit, on a review of all circumstances,
'that this country was iu the situation which the,Noble
Lord supposed. The course of his Majesty's
Government with the Bank of England had been ho-
nesty, nor had they found reason to reproach the
conduct of the Batik. It
.was considered to be ad-
visable for Government to take the very first °Nor-
tunity that occurred to endeavour by some Pleasure
to prevent the pressure on the money market from
yearly loans. lie could-nWthink, upon the whole,
that either a mere. reasonable or inure expedient
mode of relicf could easily have been adopted, and:
whereby such advantages could have been given to
the Three per Cents. He therefore-could not help
concluding that the Noble Lord (King) Irel no sound •
intention of persisting in the Anreadment, by *which
he appeared to expect the raising of the sum of ten
millions yearly in the manner he had proposed.
Lord ELLENBOBOUGarbielperely to comment
on the curiosity of thai military glory which had
been described by.rhe NobleLord.(Betley), as givii;g
us. such an ascendancy in the Council, of Natiom,
and produced sucka glorious arid secure peace as
must indemnify the country for all her burthens.. But
the latter part of -hicapecch seemed to abandon the
idea of pre,trvinig peace; 'so that there was this cu-
rious introduktion .145 the sentiments of the Noble
Lord, that whereas in the begianing of his speech-he*
told their Lord?hips that peace would lair., yet, an
answer to t question'from a Noble Lord, it was chine
that peace might not last. Never had he. (Lord; B): ,
•lenborough) met with so palpable-a cuetra. dittictp..l4
was rarely that -a speech beginning with assurances
-of peace concluded with admissions of war. -. • ,
The Earl of LIVERPOOL thought the only true
question now.before their Lordships was, what, under,
different aspects, was likely to give this countcy,4er
'due ascendancey with neighbouring States'? • While
there remained- the fair poinibility of out reinaincng
at peace, it appeared 'to lie-our litiest Polies tolscre-,
luttant to engage in war.; but if, unhappily, welecre
compelled to appeal to arms, then, indeed, thiscouts.
try should always shew herself strong and deOttininiist
in. the field. Such, .it apptafea.tO him,. WO in all
cases the real and wise,policy of this country. With
'regard to the provisions of the Bill before their Lord.;
ships, the fair inquiry was, were the terms such as
Government ougl.t to have adoptedintAation to the
Bank'—and here it ought to:be remarked,: that- the
terms, were precisely the same as had beeripifetedon. •
a former year. The arrangement•went upon 4 1412 X r.
kit price antecedent; the calculation was origiu4lly
for a term of eighty-eight years; and it Would ,be
• .. •
found that the average, as calculated by the four
per Cents. was a pretty fair average. Upon the whole; *
therefore, he considered the arrangement in all its
bearings to be perfectly equitable. Tbeiquestion, aft
reality, was, was it wise to have concluded suchu
bargain at all? Recourse might undoubteiLy have
been had to the issue of Exchequer Bills, and there
were other alternatives in the power of (iuver nn.ent;
but be was prepared to mention that an equilable as-
rangement had, considering all ciicumstaneese been
fairly made, and such an arrangement as, lie trute4,
would meet with the sanction of their L.e/Mips.
The Marcpris of LANSDOWN could net tacitly
allow the assumption of the Noble Earl pppcsite;
for it was improbable at least, not to say impossible,
that a bargain, and on such an affair, could be made
beneficial to both patties, as any sort of advaetake
or profit that was gained by die Bank, whether as

present or prospective, must otherwie have devciveci
to the country. f3ut the Noble Lord (Bexley) had
quite forgotten or overlooked this circumstance, that
the measure did with one hand exactly the very thing
1 it counteracted and undid with the other hand ; arid
this, moreover, for the purpose of shifting the bur then
of taxationirom ourselves, at an evident loss in both
4tansactions to the country at large. These were his
objections to the present Bill, but he objected to us
tendency pn other grounds. He objected to tise
principle of the measuie as operating, and this u_ of
indirect)y, to the depriving of the financial system of
eiticreocunY' country of that simplification . so desirable in all
arratteis of finance, and indeed sii.reqnisite to the het
and lig li t.comprehensiod .of them ; and pp baiiating,