Star.
London, England, 1815-03-10 00:00:00

never Make preparations for resuming cash payments
till they had an intimation from Paillatnent, that k
would U. expected they should do so on a certain
day I and that bullion would never fill much ih price'
till such art opinion was expressed by the Legiilature.
The Hon. Gentleman then adverted _to the ptofits

made by the Bank, in consequence of their connec-
tion With the public. For the management of the
publit debt only, the Bank received /270,000. The
next head of profit was the deposit of public money in
the hands of the Bank, amounting to ten millions ; out
of which they had advanced three Millions to the
Public, without interest ; the remainder, not less than
sevett Millions, they had the use of. The last held
of profit, and not the least, was the measure nose uss-,
der consideration, namely, the Restriction Act, which
had enabled the Bank to increase their issue of papst
since the year 1797 from 10 millions to SO millions.,
The profits on this sum was immense ; and be, though
himself Bank Proprietor, was of opinion the public
ought to participate in these profits to a much greatet
extent than they did.
Mr. ROSE and Mr. MANNING severally ex-
plained.
• Mr. THOMPSON had so much todfidehce in the
Bank, that he was ready to leave it to them at what
dale they would resume cash payments. He did not
mean to gay no time should be looked forward to at
which they Should do so, but th:tt they would be the
best judges when that period should have arrived :
et tl he saw no reason why Gentlemen should be so
easious on the subject. Much evil, in his opinion,
would arise from a precipitate resumption. The
Bank to do that must buy up bullion in this and other
markets, and this would raise the price of it, and
turn the exchange against us. The Hon. Gentleman
was of opinion that much good bad arisen from the
paper circulation, and especially in the north ; and
be could not avoid expressing his Surprise that the
Noble Lord ( Hamilton), and others from the nords,
Who had spoken on this subject, should be so anxious
for the resumption of cash payments. It would, in
his opinion, be extremely injudicious in the Directors
td attempt to make payments in gold till bullion
shoUld have come down nearly to the Mint price
add he should oppose any measure which had for its
object to compel the Bank to act contrary to its own
judgment.
Mr. BARING Was of opinion that the Bans
should, as soon as possible, reduce its issue of paper,
and resume its cash paythents. Our payments abroad
were now ntarly at an ens; and though heretofore
we had derived great advantages from an abundant
paper circulation, yet if that Were now to continue, a
depreciation of it must follow, to the
.great injury of
the public. He was perfectly convinced that the
Bank, for its own sake, would, as soon as possible;
return to cub payments, and that it would nut
be politic to crafts!) them. The Hon. Gelation
then adierted to the state of our silver coin, and sac;
gated the necessity there was for turning some atten.
tics to our sitter currency. He said it must he ap-
parent to every one, that a vast portion of French
deteriorated silver had got into circulation in this-
country ; but Gentlemen would searcely credit that
clnrcielbeh Were at this time making a property of
nearly 90 per cent. upon the quantity of silver coin
with which she had inundated us. Under these cir-
ctrmstances, he thought it should be one of the first
objects with Government to furnish the country with
a good solid silvercurrency. The Hon. Gentleman
also suggested the advantages which would arise, in
the event of a new gold coinage being issued, front
making the,piece of gold, instead of a guinea, oily
of the value of 20s.
The CHANCELLOR of the EXCHEQUER
though not prepared to say positively that the sth of
"lily would be the absOlute day on which the Bank
would resume its payments, yet he hoped by that
time the Governors would be able to do so. With
respect to the amendment, he should not oppose it.
amendment of Mr. Horner was then agreed to.
Mr. GRENFELL proposed, that at the end of
the Bill, after the words 51h of July, 1816, should be
added these words el and no longer."
Mr. ROSE was averse to this amendment; the
Sill expressed all its object without it, and therefore
she words were unnecessary.
' Lord A. HAMILTON was in favour of the
'anseudment, as eunveying in a stronger manner the
opinion of the House.
Mr. POLE CAREW was against the amendment.
After a few words from Mr. W. Keema and Mr.
Gamma. the House divided—For the Amendment
17. Against it 75.
• NEW TAXER
iiist CHANCELLOR of the EXCHEQUER
stride It was his intention to have called the attention
.4)tdie House to the subject of the Assessed Taxes that
evealug, but as it bad been wished by some Gentle-
tuna that put of the debate respecting the Assessed
Taxes should be deferred till a more favourable pe-
riod for that discussion, be had no objection, exhaust-
ed 'and fatigued as the House was, to postpone it till
Monday next, when he had no doubt (as nothing ma.
terial stood for that day) the House would get
through it; claiming at the same time a precedence
for that discussion before every thing else.
Mt. TIERNEY had hoped that a general discus-
sion would have previously taken place, as to the way.
in whit* the present plea of finance was to be filled
Aafar as concerned himself, he was ready to go
into it at that time. His whole object would be, to
renew his observations that it would be impossible for
the Hew to come to a decisiNt on the new taxes
until the whole of the details respecting 'them were
before she House. His object was not to oppose the
Right Hon. Gentleman's plan; but what were the
best taxes to be imposed under it was another thing.
Mr. PONSONBY hoped that every thing relating
to this discussion would be before the House when it
should be brought on. He had, therefore, no objec-
tion to defete it tilliMonday, on which day there was
no particular beams* before the House.
Mr. PHILLIPS wished the Chancellor of the Ex.