Star.
London, England, 1831-02-16 00:00:00

6th Jao. 1808 . 37,335,763 -
- 1819 . 41,850,117
1830 . 36,517,609 -

-
- 4,514,354 -

6,3.12,508

Whereby it appears, thit upon an average of ten years, ending the 6th
Jan. 1819, the exports had increased above four millions and a half
per annum, about a fair ratio with the increase of population. That
the exports upon the average of the last eleven years, compared with the
previous ten years, have, notwithstanding the great increase of popula-
tion, fallen off above six millions and a quarter pet annum.—The hon.
Alderman next quoted a statement of exports and imports --That the
lan ports It will be seen, taken by the same official valuation, bear no
n to the exports; the latter having increased, from 1798
11017111: including foreign and colonial produce, from twenty-
-911 Pea to sixty-nix millions, being an advance of thirty-nine millions ;
while, in the same period, the imports have increased only from 26 to
42 millions, being an advance of 17 millions only—not one-half of that
of the exports.
Yearly Laporte and Imports uppoon the following averages. with the
relative di6ermea in amount.

Relative Di-
ending Yearly Yearly Exports. Yearly Imports. minution of
Imports.
sth Jan. 1808 ... 431,723,826 £26,598,449 .. 15,127,177
1819 .. 44,441,502 30,018,295 ... 14,423,207
1830 ... 54,532,817 38,2966,055 ... 18,238,462
Exports and Imports of the last two years.
Yews aiding Exports. Imports. Difference.
sth Jam 1829 ... 61,948,383 43,536,187 .. 18,412,196
1830 ... 86,072,164 42,311,649 23,760,515
Whereby it appears that than was in the last year a relative difference
in the imports as compared with the exports of the same year, both taken
at official nine, to the immense amount of nearly 24,000,0001. per
annum. That it further appears, that whilst the quantity of exports of
the last year had exceeded the exports of the prior year, to the amount
of 4,123,7811. there was a decease in the imports below the imports of,
the price year, to the amount of 1,225,5361. being a relative deficiency
in one year of 5,349,3171. That it is also to be observed that of those
imports there was 1,902,3141. less retained for bane consumption than
in the prior year. And of these imports, above three millions and a
half was in earn; and in the last four years the importation of corn
amounted te above nine millions. That the gross amount of excess, of
the exports over the imports, was as follows, at the stated periods :
In ten years up to 1808 above.... £ 5,000,000
1819 above.... 144,000,000
1830 .... above .... 200,000,000

T0ta1..... 2349,000,000
That In the last two years, the excess of the exports over the imports
was forty-two millions.—That without attempting to draw concludes'
from each coincidental circumstances, it cannot escape observance, that
periodic/the greatest fluctuation, depression, and distress have oeseeet
at rehab when certain legislative measures have been under considerades,
arias Operation. Yet the bon. Alderman was sorry to say, that Teresa&
Wens ham the pork were not attended to under these circuaistames.
yollims of tho ahlgo.owners had been neglected, and so bed may
Mhos Wiese mil that now we must not touch the currently became
k bee bed dirt apseatk•t bee be was prepared to show that be operatioal
bed nett pet waged it its Aims. The trade of the colonies had been
mess MOM to thee that at this country, and the colonies were as ca-
pable ttt isnaufeetenbag as we were at home. There had been no W-
oman of amportadon to the colonies except about 18,000.00011'. of cot.
ton t fst,:which had been carried out of the country to be exchanged
with f thereby encouraging manufactures abroad and tending
to shut them up at home. The hen. Alderman then proceeded to state
—That by comparing the year ending sth of January, 1818, to the year
1815, a period of three years only, the depreciation in the real value
of exports below that of' the oflicial, amounted to 9,130,845 L—That
the retrace then assigned by the members of the Ciovernmeat were,
a revulsion horn war to peace, and the preparations making by the
Bank for the resumption of cash payments; and in 1817 a Bill
was passed for prolonging the Bank restriction for two years. That the
year 1818 was comparatively a mtuperoas year; mime bed es far re-
covered, that the depreciation biounce lees than that of the homer yen by
2,103,940, That la the year 1819 mama were adopted Wedge to
the airmsg ; prices again declined; aired of great Mama mined ;
and in the you ending sth January, die deposhilan had hike
so fee hello that at the year 1818, • a*s of six }am, am to mom to
13.6401111. That in the year 1822 di. Small Ness DM pared; and
in 1815 piles' had again so far rearmed, that, compared with the .
ceding year, the depreciation had bees keened by
That is 1898 measures respecting the arawasy, and other sasa.
sures, which were said to have for disk object the atumehm of
commerce and navigation, the impeovement of rte, the in.
ernes of the manufactures, and the tanned at public deems,
came into operation,—but, notwithstanding the mairleat assu.
rams held out, great distress and emterrammat ham fallowed, end
continued, with more or less severity, to the meow time; mad In the
year arias nth January. lfik compasod with 1181 (a period of four
years), the demseistion had Amber horsessi Wend that before stated,
to the amine of 1 ,MIL hessweallie athigmten had made
these eggenems te the beam emir three heti. and hod admvenred
to draw their attention to dim. He had entiamearal le spin the
eyes of the public, to show dim 11 we lied gee was we metesid to
, have done in ~odes gooperity, we must have been new the
envy and admile of the mull. (Hear, bear, hum) lbs be.
nourable Alderman tamed pram of the Wog% I
ayesebilheetr.
sal years, way ewe of Oil admitted of any to
to
embamewitiowt of he erstar bet all et them el
12
ammeree and 'passel yeasyeeity Tb.shie Aldose, 4:111112 any errsaka hearing three seemllans, easaMitsdom
so edema a senges.-fame is threes, yam aftlinguE sad
sight deer sight ht the hems, if it were not be call ML ad.'
isms se his Majesty, wenicarsierny and loyal' we bed el
ties been despised, sod were labouring mast is slim et in dle.
Make; we had only bees abused and imposed ape. pen ellig pss!,
and night sin night; he the fame were, that sem me is 411116
Ras woo asMally !hiss an their capital, or were meldeismespedisiii
with their median ; and the distress amens the masiOnsers wee
very grams at this atement Let my mm walk the sum* if
sid OM,* be, seeds have degreased is vales, and be 1111=
Iblif biflrsallk IS per mat. The bon. Aldermen emeslated that
Milt et el* monatry that seeds were yearedlnwtif h.
lie alllrleii~eeetn, ahssa, es. tea. Arm closeain
Teti • of m~ei~us~gtteds to rams, mar of ear
Wit h gm estesies. He was net favourable to a pro.

party tax, if it would carry with it any inquisitorial powers; bu
something must be done to bring down property to prices, or t u
bring up prices to property. He knew that the country had great er -
petitions from the present Government, and he had a good opinio n
of them; but the country had had too much of that kind of laudatory ad-
marliiien)lrmdy. The honourable Alderman eulogized Lord Althorp
end Sir James Graham for their candour and good qualities., and added,
hut no man has a hold of public opinion. The haeurable Alderman
ass* that a commutation of taxes wadd not bring relief. He thought
ministers had done tight in withdrawing their motion regarding the tax
en the transfer of stock ; it Mewed the peeper spirit of the ministry,
that they did not enter the house as liana ministers had done, who
came down with arrangements to carry every measure, and the house
ready to grant whatever they asked. It showed that the house was bt-
ooming what it ought to be, and it was determined to nave an opinion
of its own; and he thought it unjust that ministers should be blamed
for yielding to the opinions of the representatives of the people. From a
wish not to throw obstacles in the way of the ministers, he bad refrain-
ed from making many remarks that he otherwise would have done ; all
that he wished was to have their attention drawn to the facts, and to have
them laid before the house. The hon. member then read his statements
as a string of resolutions, adding the following two additional ;—That
under such comparative changes and fluctuations, and the alarming de.
pension in the value of the manufactures and produce of the country,
affecting so deeply all its productive interests, rendering taxation nearly
double in its oppressive operation, and bearing with such peculiar se-
verity upon all the middle and labOuring classes of society, who are now
suffering the greatest distress and privation ; it has become imperiously
necessary to adopt a speedy inquiry, and to devise the most efficacious
means for relief.—That without at present giving any opinion as to the
causes, and the remedies, this house cannot but express its confidence
that his Majesty's government will satisfy the just expectations of the
country, by a prompt and effectual inquiry into the causes that have pro-
dared such difficulties and distress, and adopt such measures as may be
hest cokulsted for their removal.
Mr. IRVING accounted far the gross amount of reduction in the
returns of prices of manufactured goods on the ground of the amount of
taxes that had been removed. 'il'ithiu the period the hon. Alderman had
quoted toe his comparisons, there had been thirty millions of taxes
removed ; and merchants could not expect to have the same prices for
the goods, with that decrease of burden in the taxation, that they had
before the reduction took place. It was true that the public must feel
the advantage ; but those concerned in trade will find a diminished
value in their stocks. Ile was not an enemy to the MUM being
taken off when they were removed at proper tames. If there had
taken place the amount of decrease inferred by:the hon. Alderman, the
wealth of the country could not have withstood so large an amount.
He differed in opinion with the hon. Alderman regarding the colonial
trade. (Hear.) He (Mr. Irving) considered that trade to be most
important.
Mr. ROBINSON said the house was much indebted to the hon.
Alderman, for bringing forward the subject. He took a brief view of-
the bad effects of the delusive representations of the state of the coun-
try, and also of the erroneous principles that wets inculcated in the pin-
losophical notions of those who advocated the doctrines of free trade.
He cited the principles of Mr. iluskissoa. He said that in consequence
of the burdens of the country the manufacturers had beta constrained
to resort to ingenuity and had introduced machinery, so that the la-
bourer was under the necessity of contending against machinery, and
this had occasioned a great portion of the misery that existed in the
country. The hon. member alluded to the circumstance of Mr. Can-
ning having been frustrated in his attempts to modify the corn laws by
the Duke of Wellington • and he remarked the readiness with which
so many could stand forward to protect the agricultural interest.
and how indifferent the same parties were abouehurling buttheus upon,
and cramping the means of,, the manufacturing and mercantile interests.
He was the advocate for a property tax, comprising all kinds of property,
and including absentees. It would being many within the range of
taxation who were now, comparatively, not subjectted le it. It was
the only remedy, in his opinion, for our complicated financial difficul-
ties. What was the great objection to it ? Honourable Gentlemen
who opposed the tax, wee greater losers by the increase of poor.rates,
and of assessed taxes, and by the present miserable excise system.
With respect to machinery, its continual increase would place the labour-
ing population In great difficulties. On the subject of the wine duties,
the Noble Lord said that we should bring Dearer the ties between
England and France. But was be sure that France would give us
reciprocity ? He (Mr. Robinson) was for not abandoning the trade of
our colonies which was sure and always open to us, rot a foreign one,
uncertain and precarious, and which, by the present measures at least,
could not be made to indemnify us fora loss of a trade; to which we
owed a great wt of our prosperity.
Mr. W. WHITMORE had heard, with surprise, what had fallen
from the Honourable Member on the subject of machinery. Had it not
been [for the improvements in our machinery, for the inventions of
our Watts and of our Arkwrights, in vain should we have attempted
to maintain the struggle of .the least war, and instead of being the
richest, and, perhaps, the most powerful of nations, we should have
been comparatively unimportant. With respect to trade, he did not
with, as had been said, to foster foreign trade at the expense of
the colonial. He was for leaving trade alone—for leaving indi-
viduals to employ their capital in the way they thought fittest ;
sure that :each was the best judge of his own interest. Govern-
ment had been urged to a property taxi reserving his observa-
tions en that subject to the time, he hired not far distant, when
the house would be called on to consider it, be should new merely say
that a property tax was the greatest curse which could be indicted on the
nation, and that those who were now eager for the =MOM would, after
a few years' trial, be as lefllCTi in calling for its repeaL With respect
to the corn laws, be was for removing that as well as other monopolies.
A free trade in corn would give !the poor effectual relief, far more so
than any of the measures to which they were having successively re.
course. The worthy Alderman had dwelt much on the change which
bad taken place in the difference between the real and official value of our
exports. He thought this point could be explained without the country be.
kg necessarily in estate of ruin. The causes would be fouud party in the
change of currency certainly, but partly also in the circumstance of ar-
ticles being made at preaent at much lees cost than formerly. The
prices of the raw materials of cotton, of silk, and of every other, bad
fallen greatly, from various new sources of supply being open to us,
which were shut during the war, or which had sprung up since. Thus,
Brazil, which supplied us abundantly with cotton, was entirely a new
source. Fifteen years ago, our annual import of cotton was 460,000
bales ; it was at present 800,000. The same augmentation held with
respect to silk, wool, and indeed every article; and if we looked twenty
years back, we should find that the quantity of these articles imported
and manufactured had more than doubled. Could it be said, under
such circumstances, that our manufactures were in a declining state
In his opinion there never was a time when they were in such a thou.
Tithing condition, and, with the help of free trade, they would, he was
nonfident, not only continue in that state of prosperity, but' would go on
progressively improving.--(Cheers.)
Mr. WALLACE could not agree with the Member kw London,
that our exports were more advantageous than our imports, and that
we were losing each year large sinus by our foreign trade. The feet
was, that our exports balanced our imports, for the latter were paid
for in the former. The Hon. Member had next said, that taxation
was no evil, that is, that high prices are no evil (hear.) He agreed
with him that our corn duties should be definitively settled. The
farmers would have more security for their capital, and the land-
kids foe their rents. But he differed from him with respect
to our manufactures. He believed, and he could speak on the
subject with confidence, that since the peace there had not been
so ;odd a trade in manufactures uin the last two or three years
(hear.) It had been mid that manufacturers carried on their trade with
km ; but if such were the case they would give it up after a sheet ex-
peritnce.With respect to the change in thecurrency,admitting all the evils
which had,baseehe consequence of that measure, he hoped Parliament
would never again deal with the subject, and repair a former:injustice,
by wronging those who had made their engagements under the present
currency. honk observations had been made restricting certain expor-
tations. He was for a free exportation in every article, even in ma.
chinery. Parliament bad passed an Act forbidding the export of the
latter article; but this did not prevent foreign countries from bavirg a
knowledge of our machinery. They could imitate it from drawings
made in this country. The prohibition, in fact, served only as a bounty
on smuggling. With respect to free trade, the member for Worcester
had sail that importations should be restricted, because our taxation
had raised the price of labour beyond the power of competition. He
could state, m a fact, that the last articles that were manufactured from
silk in this country, previous to the introduction of foreign manufac-
ture, would now be scarcely saleable. (Hear, bear.) He was cosi-
dent.—to state the fact broadly—that the skilled labour of this country
was the cheapest in the world, and enabled us to drive the manu-
factures of the countries where labour was cheapest out of the mar-
ket.—(Hear, bear.)
Mr. WARD thought the enlightened ideas of the hon. gentleman en
the subject of currency were such as should never be abeam from the
minds of all those who thought It important to maintain an honest
standard of value. (Hear, hear.) lie lamented that be could not agree
in the resolutions moved by his lion. colleague ; but as the subject had
been sufficiently discussed, be should not enter into it. He hoped the
house would bear with bias, and that the noble lord would have the
goodness to state again what he bad said last night on the opinion given
by the Governor of the Bank, on the subject of the tax ea the transfer
Of. funded property ; he was sorry to trespass OD the noble lord Of the
house, but the subject was felt to be so important, that accurate bforn.a.
lion on it was exceedingly desbable.
Lord ALTHORP said, be had only to tamale wbet.he bed stated
last night, which was, that the Governer of the Beek had authorised
him to my that the measure he proposed was perfectly pouch:able, and
that there could be no difficulty in ascertaining bons Ode Mossectioas in
the transfer of stock, and that the same ameemedation eerie lave bees
given by the Beak in IMO that was gives, bed the tax thin existed.
H 6 did not state, nor was he authorised to slats, that the Bonner of
the Bask approved of the tax, but steady that he gave his *Mend its
being perfectly praetkable. Ta reply Ie what had foam hes the her.
-*we fee Worcester, be would owe trim that be bed so intention of

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p .op the idonial trade ; his object was to promote the damn&
Indlestry of the country, without injury to any branch of trade. He had
newt said that no tax could be repealed that would relieve the la-
bour's, classes--the repeal of the coal duty would have that effect ;
what he said was, that the most effectual means of relieving the la-
bouring classes was by repealing duties that pressed on the manu-
facturing industry of the country, and thereby increasing their em-
ployment—(Hear, hear.) He thought the currency of the country
was now in a healthy state, and in his opinion nothing could be more
unwise than any attempt at alteration....—(Hear, hear.) The ex.
amples we had of the effect of alteration in both directions should teach
us caution.—(Hear. hear.) The alteration made in 18111 had, no
doubt; produced severe pressure; but now to attempt to retrace our
steps by another change, would probably be productive of most inju-
rious consequenees.--(Hear, hest.) He thought there could be no
doubt, that had silver, instead of gold, been made the standard at that
time, it would have been beneficial; but now, even to make that change,
would, be feared, be attended with injurious consequences. (Hear,
item) He thought it impossible that thelexports of the country could
long exceed the imports: and the difference between official value and
real value had been so often explained, that he should not detain the
house on the subject.
Mr. HUME said he held in his hand a return made to a motion of
his. by which it would appear how possible it was that the official value
of the exports of this country might greatly exceed the imports. The
lion. Alderman thought his resolutions of great importance; but he
(Mr. Hume) thought them of no importance at all. The return he held
in his hand contained a return of the official value of thirteen articleThs,
consisting of spices, coffee, and spirits, imported and exported.
value of the imports was 59 millions, duty was paid foe home eonsump-
doe on 35 minions, and after consuming so much the export et the same
quantity of articles amounted to 73 minions. How did this sales? It
arose from the great difference between the rates of valuMbit Al hear
port and export, which were fixed a century ago. Cassia, fkle beton%
was charged 18d. a pound on import, and 2s. on export.. Cocos wins
charged 21. les. a cwt. on import, and 41. on export. Mame was
un import 12a. 6d. per lb. on export 19s. fkl. In this way the wheels: ISt
ference was caused. For the last twelve years no man had been deceived
by the returns of official value laid on the table of the house. Formerly
Mr. Pitt placed great importance on returns of official value ; but for
twelve years it has been well known that they only shew quantity, not
real value. He could givb the honourable Aldermen an instance of fluc-
tuation in real value during the period to which his resolutions referred,
in the article of nankeen, the official value of which was ha. apiece; but
during fifteen years of the period referred to in the honourable
Alderman's resolutions, the real value was 7s. Gd. and the latter
part of the period it fell to 25 Gd, the official value always remaining
the same. This difference and fluctuation in price applied to almost
every article, and solved the whole enigma. The manner in
which the accounts were made out for presentation to that house was
the cause of all the difficulty. In one month, however, a set of tables
would be made out by Mr. Marshall, by which the real price of all
articles imported or exported would be seen every year for the last 10
year; by which the hon. Alderman would be able to see the real amount
of exports and imports, and after the publication of those tables be
hoped the information laid on the table of the house would be man
perfect than heretofore.
Mr. P. THOMSON was glad the Hon. Alderman had introduced
the subject to the House, as ft had called forth important observation
from several Members, and from none more important than from the
Hon. Member for St. Ives.—( Hear, hear.) It was evident that the
worthy Alderman bad not studied the writers on foreign trade, who
clearly showed that it was an exchange of commodities between the
countries which produced them cheapest; and the advantage to each
resulted from receiving a greater quantity of the commodity for which
they exchanged than they could themselves produce by the quantity
of labour employed in the production of the commodity they gave
In exchange. It was impossible that any country could for many
years continue a losing trade, and he was happy that the fears
of the worthy Alderman respecting the decline of trade were altogether
groundless. The only criterion he had of the prosperity of the
country was the increased consumption of the people. He would read a
statement which bad been put Into his hand a short time before he en-
tered the house, and which did not appear in any documents yet laid on
the table, which contained a return of the importation of several articles
consumed by the people of this country, and also of articles used in
manufacture for the years 1819 and 1830, which contained good proof
that the statement of the worthy Alderman of a declining trade could
not be correct ; and it would be satisfactory to the house to know,
that without an exception, the importation had increased in the last
year, and in many articles had increased in an extraordinary manner.
—(Hear, bear.) In the year 1829, the quantity of coffee imported
was 19,000,00011 n. in 1830, 22,720,000 lbs sugar : imported in 1829,
3,530,000 ewe; 1830, 3,790,000 cwt ; tea, in 1829, 29,000,0001bs ;
1830, 30,000,00011 n ; tobacco and snuff, in 1829, 18,0U0,00011n ; 1830,
19,800,0001 in ; wine, 1829, 5,277,000 gallons ; 1830, 6,360,000 gal-
lons. It was impossible to suppose that the population had increased
in the same proportion, therefore there was an increase in the consump-
tion, and consequently the comfort of the people. There was also a great
increase in articles used in manufactures. In 1829, the importation of
cotton was 204 millions lbs ; in 1830, 270 millions ; the importation of
silk in 1829, 2610,000 lbs • in 1830, 4,170,000 lbs ; wool in 1829, 22
millions lbs; in 1830, 31,600,000 lbs, besides a considerable advance in
the price of English wool; tallow, 1829, 1,250,000 cwts ; 1830,1,300,000
cwts. ; flax in 1829, 800,000 cwts. •' in 1830, 960,000 cots. ; in spite
of a great rise in price abroad ; this statement completely proved that
the industry of this country was in a state of progressive activity. He
entertained a strong opinion that the trade and manufactures of this
country were increasing ; but in a country where there were such nu-
merous regulations and complicated interests, he knew that fluctuations
were unavoidable. From all the information he could obtain, he had the
satisfaction of stating, that in the manufacturing districts wages had
risen, and the condition of the people was improved. (Hear, bear.).—
He feared the hand-loom weavers were an exception, because they were
suffering from one of the greatest changes that had ever taken place in
any manufacture ; but the whole of their distress did not proceed from
the introduction of machinery. Their trade was very easily learned, and
the Irish whopocked to the manufacturing districts, as they had a right
to do, soon acquired the trade, and overstocked the &nand for labour.
Mr. WARD said, he hoped he might be allowed to read a statement
be held in his band, which was in the handwriting of the Governor
of the Bank, and contained his account of his conduct respecting the
don of the tax on the transfer of stock. The hon. gent. read
irs7oltiltwa :—,, The Governor of the Bank distinctly states that he
was not applied to by government for an opinion on the propriety or
impropriety of laying a tax on the transfer of funded property ;
(bear,) but he gave his opinion that it would be practicable to is
on such a tax. He was applied to by a person not connected with
Government for an opinion on the proposed tax, and gave his opt.
Dion against it." (Hear, hear.)
Mr. ATTWOODsaid,that the right hon. gent. (Mr. P. Thomson)
bad read a mass of documents to the House to prove that the country
wain a state of prosperity; and it was intended that the House should
take them as proof, as they bad always taken similar statements. lie
never knew an instance in which, when the country was waving
distress, similar documents were not produced to the House to prove
its prosperity. Why did not the right Hon. Gentleman refer to the
petition on the Table, complaining of the distress under which the
great body of the people were leaving ? He would appeal to an Hon.
Gentleman residing in Manchester, whether the increased consumption
of cofibe in that town was not accompanied with a decreased consump-
tion of milk. The fact was coffee was cheaper than milk. The Hon.
Member for St.lves said the currency question must be settled before the
country could float through its difficulties ; he thought so too. The
boo. gent. said the manufacturing interest was now in a better state than
it had been since the war. This was In opposition to the statement of
the hon. Alderman, who had at least equal means of information • and
also in opposition to the statement of the manufacturers themselves.
There was a petition from that pen of the city with which the hon. gent
ought to be best acquainted—the Ward of C,ornhill, which stated that
they were suffering from loss of trade, and that their capital was de-
creasing. He would contend that the capital of the middling traders
was in general decreasing, though there might be individuals whose
capitals were increasing. (Hear) The inhabitants of Middlesex
stated in their petition that they were constantly sinking deeper
and deeper in distress. He would ask what was the condition of the
W eat India interest ? Was it not struggling with the greatest difficul-
ties ? and the trade to the East was not mach snore prosperous. He
would appeal to the hon. member for Staffordshire, whether the great
branch of trade he represented was not in a state of distress ? He be.
lieved at this hour the manufacturers who were not prosperous would be
giad to escape with their capital if that were possible. They all knew
the distress of the agricultural interest. He would tell the noble lead Übe
looked to security for the preseut currency, that neitherin peace ntr war
was be secure for one month. The right hon. gent. had stated an increase
in the importation of sugar: he would find that the West Indies
had been increasing in production for fifteen years, and, according to
his rule, they ought to be increasing in prosperity; but was that the
fact ? Was it not certain that they were all the time increasing in dis-
tress. He could tell the Right Honourable Gentleman how that took
place. They had to give one hundred and fifty hogsheads of sugar to
pay the same amount of interest on mortgage which they formerly
paid with one hundred hopiteads, end in that way the alteration in
the currency was working their ruin, which must be completed if
some beneficial alteration was not effected by Parliament.—(Hear,
bear, bear.)
Mr. COURTENAT said he rose with what might be considered a'
singular intent to vindicate his Right Hon. successor (ran the obser-
vations made by the Hon. Gentleman who had just sat down. He
did not understand the Right Hon. Gentleman to say that the country
generally was in a state of prosperity. He bad made a statement
which proved the increased consumption of numerous articles, and
certainly that proved Increased comfort. The Hon. Gentleman had
eadeavnuted to get rid of this consequence in one article; bet he only
proved that the people of Manchester had arrived at that state of