Star.
London, England, 1823-06-13 00:00:00

IRISH BREWERIES.

Mr. THOMAS ELLIS presented a Petition from
the Brewers of Dublin, Cork, and Waterford, com-
plaining of the injurious effects upon their business
by the great reduction which had taker) (or was about
to take) place in the duties on Irish spirits. The Hon.,
and Learned Gentleman observed that this subject
was most important, and deserved the serious atten-
tion of Government and the House, not only as it af-
fetted the amount of revenue and the consumption of,
agricultural produce, but as it concerned the morals
of Ireland. The Petitioners stated, that by•the re-
duction of the duties on•lrish spirit!, whisky could be
,sold in Ireland kir about one-half of its present price,
by which the consumption of malt liquor would be
very materially diminished. The general use of
spirits was most injurious to the morals of any people.
It was well known (the Hon. Member added) that
the people of Ireland, as indeed the inhabitants of
every nation in a state of semi-barbarism (which was
unfortunately the case at present with the greater
part of that country), were anuch-addicted to the use
of strong spirits, a habit,which had been productive
of the worst consequences to their morals, and to the
peace of the country. The recent-alterations in the
duties Were therefore most injurious in making whisky
so much cheaper. The Petitioners therefore prayed,

and he trestedtheir prayer would be att.eniplit6, tb '
Goya:v*lMM refght take the subject into censidwyeOn•
ol
Realm moved that the Petition be biamightupw;
. •Afeer a short discussion, iii which Mr( 11- LIFIC!I4.
Sir .1. NEWPORT, Mr. C.H. Hutcisteson. ~,,r.,
.Tarr, Hr. S RICE, Mr. MoNet, arid Colonel 'hilt,
'took part, the Petition was brought up, read, and or.
' dered to be printed. -
case PAYMENTS.
Mr. WESTERN moved Me renewal of the debate
on the currency.—Ordered.
Mr. WODEHOUSE then rose and said, thii sub-
ject had always appeared to him to be. one of pare-
_mount importance. lie was not one who, was food
of grumbling or anticipating . evil; yet. be •tlioright
that things were speedily coming to a crisis. Head-
raiitted that he was the author of the term 41 egaittibte
adjustment." It was at a dinner in the countryOf.thi
friends of Mr. Pitt, that he said he had no doubt that
he would have resorted to some equitable adjustment,
looking at the state to which the debt had brought
in. He was conscious of no impropriety in this'opis•
tnion; for we had come to such a state of things, that
even the wisest among them could not see the end of
it. They did not do justice when they attributed in-
consistency in opinions of political economy to men.
without reference to the great change that had taken
place in everything; for he did not believe that '..tle.
Horner would have acted in 1819 as he counselled ie.
1810. He contended, that neither the Right Hon.
Gentleman (Mr. Peel) nor any of his colleagues, nor
Of those who systematically oppose them, had any
clear insight into the matter, when they too readily
gave way to the system proposed by the Meinber for,
Portarlington, which had -occasioned such incalcii-
lable mischief to the country that it was their duty
to find means, some how or other, to expiate it.—,
By an extraordinary phenomenon we had anticipated
in one generation the resources and the means of
ileaveN knew how many! Yet all this the Member'
for Portarlington considered as nothing, and not at.
all likely to produce any change-or commotion. He.
reminded the' President of the Board of Trade that.
he it was who had told them it was impossible to re-
turn to the prices of articles as before the war ; and
that the price of bread would .still remain double to
whit it was at that period. He
,put it to the strong
sense, to the honour, and, to, the reputation of the
Right lion. Gentleman, witethharcould pow main-
tain the dOctrines belied then promulgated? Having
read from Mr. Huskisson's pamphlet in reply to that
of Mr. Western, the ridicule cast by the former on the
recommendation of a corn standard, the-Hon. Mem-
ber again referred to the authorities of Mr. H.Thorn,
ton, Mr. Homer, and Mr. flume, to slievr that they
also supported the opinion for which Mr. Western had
contended. Mr. Horner had expressly stated, that
" the paramount standard of all value is corn." The
late Earl of Liverpool had maintained the same point,
which was also urged in Locke's letter to Lord Somers.
It was clear,. therefore, that the alvocates for a corn
standard were notadvancing anything very new or ex-
trav agant.,The hi on. Member then proceeded to answer
certain arguments which had appeared in a pamphlet
written by a Rev. Divine(Dr.Copplestone), and charac-
terised the principles of it as absurd and jacobiaical.
He.denied . that the alteration of 1819 in our curreney
bore any aihnity to that change whichhadtaketkplaee'
in the days af,Qikeen Elizabeth ; althotiglifie thought
that the meanest of that Queen's courtiers, or para.
mouri, would scarcely nave uttered to her the fulsome'
compliment, placed lamp. her tombstone." Moeda ad
jastuat valorem redactvi.", He complained of ase
want of deliberation with which the. Act of 1,819 had
been passed-an Apericwhich, ever since 4 existed, had
operated as a sciinrge to the Country., As a gab', and
an easy mede, of doing some goodan oar p ..talis-
tressed situation, he .(Mr..Wo4house)-shotild advise
the establishment of a sifter standard. instead of a
standard of gold. The Hon. Gentleman, after apo-
logizing for so long occupying the time of the House,
sat down byre-adverting tp the exhausted state of
the landed interest, and by trusting that the examples
of distress which heltad witnessed is his pwn county
.(Norfolk) would weer, bad if our condition was,
.be
seneral through thp country.
gr. JAMES had read his namesake's Treatise,on
gooey, and Mr. Galante: opinion on the.eatnesub'
' which was better than all that had begawritten
en it.-He blamed the Government for pakie? fre-
quent changes in the value of the currency. , fhpy
inundated the country. with paper. Fieney ; and then
the withdrawing it in various proporticans„fied.at dif-
ferent times materially affected property..Thetegis-
-Isugo,b3yipg effected the evil, they wale bound, if.
stoalibles,Po.apPly a remedy to it; or otherwise they
seißld unction the most deplorable of all revolutions;,
par*. eheyearolution of property.
Lord FOLICESTONE said, that notwithstanding
the predictions of the lAN Member kir Pertarlington,
that, 411....b,a4Aotbing to dread from a retinas to cash
'p4ymrh yetpaery day and hoursince that period had
the di ultiewd misfortunes eftheeeentry been in-
et:easing. ~..4t,rpollbe a very long time before the far-
ance.cocdd p,cppor4on,tiae supply of his produce to the
dinnotwl ter at.;atild AO ohtain a fair remunerating pi ice.
Iltelateinfteaseof prices ought, in his opinion, not
to ;ha; eitaaideteci as a favourable symptom for the
faimer.anpuitniich at it was temporary, and attri-
hntable:R.icejdeskai end transient causes. It had
beep greapried thee this proposition mould lead to
ree04.4%;.41., be was sure, that unlesi sioarrremedy
ssige*pti4ede,4,was too glum; not to. see
cry worst
COO
... oyetild be revolution of the:leryliOrst
kited.... ;lepitheir Jut if this state of i)inseilsted,
telincer
to, look f.ne thjbest,an ripit speedy remedy- for these
evils, XpAnalatai4ed that this proposition of his mike a
very,proper'il et land the only one which coulatpresitive
the puntrystilecurity.anel tranquillity. In centesnieece
of the state of 00 currency,
..the country, na,...,.. suable
to go to liras, or xesig,al4 ynjust,aggeesftottot xmaet
upon Span.,
~.e !TC:lajp.4,pq.acief.rteCtg,..an, 4 .
Act of the Scotch Parliament. which, :13 a !niter
state. of :the currency, .reccirinlied the Itiiinciple of
•
equitable adjustment, proportionate to the estkt I .
the depreciation. The same principle 'hod also.hated
adopted in • France, when the rairrency,Was.in asasz=
nats. But the great object in this country bed been
to conceal theextent of the depreciation. By the 19th
of Charles n. a similar adjustment took place with
respect to property in Landon, after the tiro hi; 1,606
That adjustment had been made hy.COtnnahatioti.ers;
„whose 'labours had lasted (or the space of six y
The. Noble Lord then ranked. what had taken plac
at the close of the civil war between Czsar nod
Pompey, when, in consequence of the depreCiation.6l

i nt
et
naoyn ,money,
a,
e.iifstoeduwratishn claoefwciro,irsiddoetlfbiLaain tthelso debtor
mx sphheeodrtii
el
otnift 0r'i1.,1.111,
,House (FL Bankes, Esq.)—(A laugh)---he imi.„‘
find that Hon. Gentleman an advocate for an eq's
ttitat'
adjustment. He should' move as an Amendment
04 That the Committee should take into consideral4l
the nierni or fiOViditig-an, eeqtabli.adjustmeut
contraCts."
fil.r, PEEL ;OA ilmt st.the_prtsent period -0(.0,
1 Session, a Committee. bad beecl•peoposed to sonidl
the effect of the, a)teyatios of .the currency „nert
enonse. .4 opqtracts r
nw. 4.1:e „i..,-.4rifr' 4. A similar Mol,„„,•
had been made in the three former Sessions, ~,,.44,-;,
invirfefilf been rejekleg.• The question was, did 4,-
lethservi' flail*: Of the opsen!iy require a rerisim
De iorreaci?'
.117 ii there anything in the minte
fa;
turittg interests of the country that demanded sucf „
revision ? In fact, in the commercial and manutatt:',;
in interests,, there was every appearance of revirip
prosperity.' Before the Aet of 18-19, all the eeil,,
cubed to that
,:glei'llsad'!eitlited, and had arises-fibril-
'AO state of thecUrrenceiince 1797. lie should cot.
pare the present state, otabe manufacturers withe,tut
it had been in 1817. The Hon. Member tiirWiak,
sea had laid doWn in a speech made that year, that tk
, •
',manufacturers were in a state of exampled diii4
tan
lend had concluded with a quotation from Sir Jc
Child, thatagriculture and manufactures acted &
re-acted upon each other, and that when the miera
itlonriahingi: the -other could not be long distrew.
. 'The Righthloa.rventleman then proCeeded towel
revieir -of 'the state of the manufacturing diiinraj
fore and since the:resumption •cf Ca-11 PaYments,
having received accounts from the several tligiu,,t
the commencement of the pre eat, year. liilltsue„,
held, all, before-the resumption of Cash Payeneet,
was distress-...n0w all were employed. From She.
field' he received the' satne:account ; in 1820, flue
roor-frate in Sheffield W 2140% io. the pound; 41184
it was only Bs. 6d. and the estimate, for the-pew/
year, was 6s. gds onlyzitievious.tOlB2o, the num!;e:
of
empty houses: was; i'600..-.at. presein they,ema
I scarcely 100:.In Blatiinkbrith;tne Poor-rites fadlie)
reduced more iliati'onehielf since 1820.11444 a
Poor-rate was E. 18,00-L-the estimate fear' the (nee.:
year, was £13,000. In Manchester% the Cotten 'Nile
was in a rithstflettrislaing" . state—in 1816 the stages
were 6a. Bd. now they were SOs. a-week. The ['Nit-
rate, in 1820, etas £27,000;. in 1821-, it was 029000;
in 1822, it was 1;16.000. The Right Hon. Gentleman
went into other details of the flourishing state °fur
manufacturing districts, and asked ;the g'.al not crated
sufficient to shew that, as regarded the manufacturing
distaticts, no .Committee of Inquiry was necessary?-
fiewould next advert to the state of Agricultec
Readmitted that Agriculture had laboured, and war
labouring under cnusiderabte dePtesSion, but he
maintained, that trada,and
.manufactureteould not
be in a progressively prospereas condition withott
imparting•atitvintages to thointerests uf Agriculture.
Though he matialttecl. that. Agriculture was in ade
pressed state, lietrieniedthat the measure of 1819 had
contributed, 'to any very-Oeciosso•eztent; to suck tit-
pression. In 1816, the-agticuliural interests were it
a irery' depressed statelVolituelt:Erfathat:the HoLpto
rilgof -the present ara,- ion- at that period movedßesolutions,
soiutions setting.fPrifethebnpeless state of AO-
-cotetsfe, anikhit braildi7l4m. noes" "04 lalldr
.no rent at A- . ' Thgfiqtesa titibi.is Were *Ovid.
ie-iii-IsAra ihipaatiagusif. iliac Dill .which was. r.
legedto have.eSeetest such mincers changes. The stze
of things in 1816, ilafact, justified the measure of MB;
for as it was alleged that an-unlimited paper currerq
occasioned such ev ilsithe _Parliament !aid that the evils
resulting from suchxaute:thould no longer continue.
Such fatts,.he'thought leakfit'it 'clear that the Bill of
1819. was not answerablerfertall 'those evils which
some had -attributed to it. 'Much injury had resulted
frotrytheOriginal Meaktire of 1797. He, wonld nn.
ITlMV.eiataine that measure ; he would not stop toil).
quire whethre it hadaccomplished those objects fa
Which irvras passed—perhaps it had; but be that fan
as it mighti.lt had been productive of most serious
ciankAtteiteetai-ter; the country. However, to a pspu
currency. there must hive been some limit; it mull
norhave tone on ; had there not been some checkis
tisite, 'the babble must have burst. Therefore the
measure of 1819 became requisite. But the depress-
sion did not commence in 1816; it • began in 1813,
on the apprehension. of peace, as was proved by
Victualling Contracts, ike. the prices in the Novem-
ber of that year being 61s. for what was charged
1245. in the preceding January. Such facts, as well
as the various speculations, shewed that many causes
had been at work tciprodUce that state of things at-
tributed to the Bill of 1819; but reviewing them slt
.as well as the arguments urged- in support of such
motion, he was satisfied that no change ought Tato
take place, if it were desired that a nretall,c currency
and standard should-be kept—tbat the b.eittits4o be
derived from change-should ,be 'fully equal te dm
risks that were to be run—(Hear, hear)..A. liable
Lord (Folkestone) suggested the, change of. O'Pe•
ttard from £3 17x. to 4.74 ls. and yet at had hfrell,P•
suited that the depression of Agriculture was-it lat
cent.; if tbat were so, how could it be relievedbyrin
alteration of the currency to the amount of.2orler
cent. The only point remaining wastbetnf iquOle
adjustment, and the Noble LOrdsaid, Why dO you re-
fuse an equitable adjustment? ..Why be *objected,
because it was absolutely impossible that it could be
.carried into effect. One great and
obstacle was the various changes;propatilwil Vide"
gone; and he would be glad to know.of the liable
Lord, hOw this adjustment was to be madt,9ll ale
original contract?' How was the valnetifjbenani,
note.to be ascertained at the different pent:WA/ewe
'these contracts were made?. and if this.coald act be
tow.. hp* Wl4 the adjustinent 'to be,madey se fact,
this *at nut..iii. adjustment called for bvtge.r. ,
of iBl'9',. tut' had 'thkert 'place ykars..bdere. . /
4ittsilliOttirtable
041d:It 'l4e: Aiiiible .tis' diseihninati. betstlcs
I
Mini, .iren*::seefiraiiident speculations, aad-tboe
Joh .apossx frame change in the currency?; lb
leoble•Tsord.wcOttlaliaye a number of applicatilo
'..;":StOliT,petgliatiOns. and be winild find .tte yes
Sai A siiiiiiilailipiolific.of such instances; be sea
tiod..the adjustment,-of• them a task far beyeed la
*binder.- Besides, if land-speculators were titles
this
,benefit giveoto. them,
.why should not the rarl
,iithalgenee -be extended to all other imprudent ere'
fortunate speculators? For the united considetathili
that,..tedeose- of the -present state of the mangl'
taring interests--and because of the benefit:7lg
'agriculture will receive from the property of the "is'

LONDON.

•
FRIDAY, JUNE IS. 16(23.
THE FUNDS.
STOCK F.XCII A N G E. TWELVE O'CLOCK.
Consols opened this morning at 81 to I, at which price they
main up to this hour, with little doing. A private Express
morning from Paris is said to have brought the French
Fouls a trifle low than yesterday's quotations.
Ws understand that the several lists of the New French Loan
to the City have es yet met with but little success. Few of the
nyitallsts in the City are anxious to subscribe their names.
FOREIGN FUNDS.
Spanish Bonds opened this morning at 36, with little doing.
Cinett Prices:—Chillan 371, New SpaniAb 36, New Prussian
NI Russian 40}, Danish 891, Neapolitan 751, Colombian 40.
PRICE OF STOCKS AT ONE O'CLOCK.
Bank. Stock 213% 219-3 per t ent. Redo. 80 3/4
31;2 per Cents. 92.',/8-1. per Cents. Old 97% sA
Bank Lg. Anns. 207-16 1/1— Imp. 3 pei Cts. 79 th
India Bonds 39s.10s.—Olti Anns. 801/2
Er.Cheq. Bills of £l,OOO. 19s. 21s.—Small 21s. 245.
India for Acct. 252 1/2 —; !on,ols lot do. 81 81 A.

We have received to-day the Paris Papers of Wed-1
teglay ; but they furnish scarcely any additional in-
telligence from Spain. The Pilote says that FEUDI-
VAND VII. the Royal Family, the Cortes, and the
Eaglish Ambassador, quitted Seville on the 27th ult.
N Cadiz; their escort consisted of 9000 Volunteer
Militia, and 5000 troops of the line. An Army of
Re,erve, intended to be placed under the orders of
Ilarshal Count LAUMSTON, Will, it is said, be 25,000
strong; it will be organized in the neighbourhood of
Toulouse, and be formed of disposable regiments
f:em the interior.

FROM OUR OWN CORRESPONDENT.
" PARIS: JUNE 9.

" All eyes are now turned on Madrid and Seville,
and no events occur here worth notice. The infor-
nution which is given by this Government relative
to the dispohition of the Spanish people, and to the
re,ults of the military operations, is so trifling, and
c•:en contradictory, that it is impossible to form a
correct oplaion tither of the present t stc of affairs