Star.
London, England, 1821-02-23 00:00:00

PARLIAMENTARY PROCEEDINGS.

HOUSE OF LORDS, FEBRUARY 22.
On the motion of the Earl of LIVERPOOL, the Queen's
Annuity Bill was read a third time, and passed.—Tbe Bill was
then taken to the House of Commons by Mr. Justice &Yaw.
Lord HOLLAND gave notice, that on Monday next he
should bring in a Bill to extend the provisions of the Treason
Act to that part of the United Kingdom called Ireland.
The Malt Duties, a!id Transfer Grants "Bills, were read a
third time, and passed.
Lord SI DMOUTH laid upon the tabli certain Papers,
ss HA had been moved for by Lord Cat.rnoarr., relative to the
lame Lame
Lord HO,LLANY presented a Petition from Neath, in
South Wales, and another from the Corporation and Shoe.
makers of Perth, praying that the Queen might be restored to
all her
- -

• The *Slarquis of LANSDOWN moved, that a Message be
Pent to the House of Commons, requesting them to let their
Lordships have a 'Report of their Committee on Foreign Trade.
Ordered.

The Marquis of LANSDOWN observed, that after what
had already passed on the selsject of Naples,-• he could not aban-
don the hope that some of the great calamities by which that
country had been threatened, in consequence of the late trans-
actions at Treppan, might be avested., He therefore gave, notice,
that he should feel it his duty, on Tuesday neat, to move an
Address to his Majesty on this subject • and he moved, that the
Lotds be summoned for that day.—Ordered.—Adjourned.

lIOUSE OF CIS)3I3IONS.
This day the SPIAKES took the Chair at the usual hour.
AGRICULTURAL DISTRESS.,

Sir' E. KNATCIIBULI, presented Petitions of a similar
nature from Feversham and other parts of Kent.—Ordered to
lie on the table.
Sir H. kNATCIIBU•LL presented a Petition to the tame
effect front Ashford, in the County of Kent, and took occasion•
to urge upon the house the necessity of an inuuediate alteration
in the Corn Laws.

Mr. CUBWIN said; that nothing could exceed
the distress experienced by the agriculturistsin every
quarter, and when such manifest demonstrations of
ia were exhibited by the Petitions from the once flou-
rishing County of Kent, he begged the House to
consider what must be the situation of the rest of
the country.
3lr. ELLICE was fully persuaded that, unless the
Chancellor of the Exchequer had resorted to extra-
ordinary means in the year 1816, matters would have-
then been brought to that fearful crisis to which they
were now fast approaching. The Right Hon'. Gets-.
tleinam, however, had discovered an extraordinary:
remedy, which was to putn guinea into the pocket'
of every man who wanted one; and for that purpote
he caused the country to be inundated with a new
issue of paper, to the amount of £12,000,000. The
Han. Gentleman then stated the unfavourable effect
Which this measure had on the foreign exchanges,
and entered into a detail of the debt due to the
Bank, which from £30,000,000 had been.reduced to
6,000,000 at the time the new issue of paper-money
took place. There was then more specie in the Bank
titan had been for many years before; and it was
thought advisable to correct the unfavourable state
of the exchanges which the extensive issue of paper
had caused. 'For that purpose an issue of £9,000,000
or £lO,OOO 000 of specie was ordered, and this had
tht desired effect for the time. NVlien a Committee
of that House had been appointed in 1819, to in-
quire into the expediency of resuming cash pay-
cuts, the market for gold was of a factitious cha-
racter, which kept up the price at 41.25. per ounce.—
The`market, however, ought to have been regulated,
not upon any such factitious principle, but on a scale
which presumed no extraordinary means to have
been resorted to on the part of the Bank. He thought
it perfectly useless for Honourable Members to be
wasting their time in sitting on Committees up stairs,
with the view of alleviating the general distress, un-
less the whole state of our finances were taken into
consideration. He was not opposed to the principle
of the Committee of 1819, and he should have rather
approved of it, had he thought it could produce any
practical advantage. He had always said, that the
. principle of a discretionary standard, particularly in
the Bank, must produce ruin to the country, unless
it was put an end to in time; but he also knew, that
at the period in question, it was quite impassible to
revert to the ancient standard.. His anticipations
bad since been realized. He Would ask if there was

any ofte Merchant engaged in foreign trade, who-had
not lost almost the half of his capital, in consequence
of the sudden change that had taken place?—(Hear.)
A great part of the distress Which now prevailed,
was attributable to the system of. vascillation, by
which the currency had been left in an unsettled
state. Hopes had. been continually held out of bet-
ter times and better prospects. In 1817, the Chan-
' ceilor of. the Exchequer gave the farmer reason to
hope • that matters would improve; and he did not
deteive him, for he caused an immense quantity of
.ink-notes to be issued for the general acUntmoda-
us:in. There was no interest in the country which did
ot stkerely feel the effect of this- state of things. The
sltipink trade suffered the greatest depression. Ships
were building, but without any. prospect of remunera-
*inn to the owners.. Those who bad been accustomed
to the events of the last twenty years, flattered them-
selves with the hope, that the same high prices must
invariably continue, aid Merchants, farmers, trades-
. men, and.all were glad-to indulgethis delusion. But
-the House would see how widely altered was the
of-things;Mate orie instance would be sufficient for
ptirpoie; 'A Gentleman who, in 1813, had an
estate of 4:640p,a-year, owed perhaps 4,p00 a-year
Ar dower .an •,proyision for yonnger children. After
.4iaving . paid 42,000 to. his creditors, he bad still
1:4,000 to spend, and be looked to the high price of
vadlOtikerlit*lttCefOr the regular payment of
.it. 184)114,.piAt.4.;t1,je: 'f.yerage priceOf corn,
sliket Willbt,4o4-1214t inti;l:649oo -ar.yeat was reduced

'to £3,000 a-year. When he had £6,000 a-year, he
had £4,000 to spend ; but now,, with only £,3000 a
year, he owed £2,000 out of If to his creditors, and
he had remaining but £1,O) a-year to spend-4-,
(Hear). Unless the prices could be got up, all that
could be done would not avail individuals so circum-
stanced. In hie opinion, a Committee on Agricultu-
ral Distress, will ot a better system with respect to
our finances, ..was only a. base deluslon,,which ought
not to be practised.
Mr. GRENFELL defended the Report of the Bul-
lion Committee. He regretted that his Hon. Friend
should have brought forward this important subject
at so unseasonable a time. He would confine him-
self to one observation, that was, that the Banks of.
England andireland should be left at liberty to pay',
in cash whenever they thought proper, and that.the
measure should not be an imperative one.
Mr. HUSKISSON deprecated the discussion of
this important subject thus unexpectedly, and with-
out regular notice.
Mr. BARING was not desirous of . entering into
an extended debate on this subject. It was not on a
grand debate that this question could be best and
most advantageously considered. In his opinion, it
was by often recurring to the subject, and by opinions
shortly and frequently delivered, that the question
would come to be best understood. He was decidedly
of opinion with his two Hon. Friends, that thefoun-
dation of our difficulties was the state of our cur-
rency. He also agreed in the recommendation that
the Bank should be released from restriction ; and
that the sooner they called in their £1 Notes, and
issued Sovereigns inttead, the better for the country.
Mr. D. GILBERT agreed in the opinion given
by the Hon. Member (51r. Baring) as to the present
state of the currency. He hoped our present diffi-
culties would operate as a warning to ourselves and
to posterity.
Sir It. *ILSON wished to know if there was any
objection to allow a lteturn to be made of the number
of Acres in the kingdom under cultivation for Hops?
Mr. lIUSKISSON said, he had none.—The Peti-
tion was then received.

Mr. LA MIITON presented a similar Petition from
certain Trades in the County of Durham. The Hon.
Member took this opportunity of stating, that his
opinion on the subject of the Corn LaWs remained
unchanged : he did not consider that any protecting
Duties would benefit the Farmer.
MILITARY OUTRAGE. AT THE DUBLIN COUNTY