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London, England, 1819-01-22 00:00:00

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and management, these improvements mightbe made'
to a much greater extent. The aggregate state of t*
Consolidated Fund was much talked of; but still its,
actual surplus did not exceed between 2 and £300,000.1
Its proceeds were eaten out by the arrears of pre-i
ceding. years ; but these were points, he knew, which
lie over for future discussion by their Lordships.—
The Expenditure of the last year exceeded the Re-
venue, in point of fact, nearly 14 millions; and, if
such a state of defalcation continued, the whole of
the Sinking Fund must be affected by it. in the
present year, such was the state of that part of our
concerns, that not more than four millions of the
Sinking Fund could be applied to the reduction of
that enormous load of debt which oppressed the
country. He said this with no view of creating de-
spondency, but with the view of stimulating Mini-
sters seriously to apply to the subject ; to inquire
deeply into it again and again, and see what farther
reductions in the National expenditure were practi-
cable. He would now advert to a topic of ,peculiar
and urgent importance, on which it was incumbent
on Ministers to afford some distinct information to
Parliament, and set themselves sedulously to obviate
a.great and alarming evil. He meant the state of
circulation in the country, which naturally involved
the long continued restriction of the Bank with re-
spect to cash payments. And on this head he had
to ask of his Majesty's Government, for the informa-
tion of the House and of the country, what were
their intentions on that important concern—what
principle was to regulate their conduct ; and, in fact,
what the system really was to be? He was aware
of the comprehensive nature of these questions ; but
they must well be aware of the necessity of distinct
information upon the subject, and in their resolving
upon the measures necessary to be adopted he must
deprecate the injurious delays which were snifered
to prevail in former Sessions. Something should be
done to counteract that destructive system through
which the metallic currency of the country was
caused to disappear ; and it may be regarded as mat-
ter of equal astonishment and regret, that all other
countries, even those least able to command it,
should have More extensive metallic currencies than
Great Britain. 'There was another topic to which he
would at present call their Lordships attention, viz.
the actual relations between this country and the
United States of America. It was with satisfaction
be learned the agreement to a Treaty which he hoped
was likely to lead all things to the most amicable
termination ; at the same time it was impossible not
to feel there was a certain transaction which he should
be glad to hear avowed, had not the sanction of the
American Government—namely, that in which the
lives of two individuals vvete sacriF.ced. With IV..
WeCt to what was said of the state of affairs, and
the satisfactory termination of hostilities in India, he
certainly concurred, as the event concluded equally
to the honour of British Councils and of his Majesty's
Arms in that important part of our Empire. Sub-
ject to these observations, he certainly agreed in the
motion for the Address.
The Earl of LIVERPOOL, in answer to some
points urged by the Noble Marquis, stated, that the
Address had been as camiously framed as possible,
o, as to obviate all difference of opinion upon an
occasion, and under circumstances, in which he
held is- most desirable that all difference of opinion'
should be avoided. The illustrious and most justly
regretted Personage whose loss was deplored in it,
had, in the course of a reign not much short of 60
years, called, by her example and uniform conduct,
for expressions from Parliament and the country,
what were not to be considered as mere words, or
even mere personal feelings—but for expressions of
heartfelt regret at the deep and serious loss, which
not only her •illustrious relatives, but the country, and
in the present stare of society, the whole civilized
world, suffered by her lamented dcmise—(llear,
hear.) Adverting to the subsequent topics of the
Noble Marquis's speech, the Minister observed,• it
was impossible in the present state of information
before the House, fairly to enter upon any thing like
regular or satisfactory discussion. They would, of
course, be matter of distinct, regular, and serious
consideration on future opportunities. The evacua-
tion of France by the Allied troops was evidently a
matter of important congratulation, equally honour-
able to those Powers wino resolved on it, and, he
trusted, advantageous to France herself, and the ge-
neral interests of Europe. France was placed by it
in a state of advantage which she could not claim
under previous stipulation for two years to come ;
the measure was deemed consistent not o!!ly with a
generous, but with a wise and liberal policy. The
Allied Powers evinced by it their wish to effect that
for France and the general advantage at a much ear-
lier period than at one time was deemed advisable ;
and of this measure the moral as well as the political
consequences were liberally considered. As to what-
ever detailed considerations might necessarily connect
themselves with the measure, there would be regu-
lar opportunities hereafter to discuss them ; and their
conduct evinced to the world there never was a pe-
riod as which the Allied Sovereigns were more anxi-
ous to perpetuate the general peace and cordial trail-
quaky which happily prevailed. With respect to the
important question put by the Noble Marquis, re-
specting the more completely effecting the Abolition
of the Slave Trade, he would say, that his Majesty's
Government were disposed to take every proper op-
portunity to give every practicable extension to what
had already taken place in that view, and parti-
cularly they were desirous of establishing a well-
regulated right of search. The next point touched
upon was what regarded the Finances of the Country.
With respect to this, he must advance, that every ef-
fort was made to create a surplus revenue, so as to
operate a material reduction of the national expendi-
ture upon secure and solid foundations, and at the
same time-to give the country relief from the pres-
sure of taxation as far as was practicable. Since the
return of peace, no less than the very unprecedented
sum of seventeen millions of taxes were either remit-
ted or suffered to expire. At the same time, every
possible improvement was effected in the revenue,
and safe or practicable reduction in the expenditure.
At the Moment, he did not feel justified in saying
more. With respect to the currency, he was fully
aware of the great importance of the subject; it was
the general custom, Noble Lords would recolleo_ , to
leave that topic to the wisdom and discretion of Par-
'lament, and to make no direct reference to it in the
Royal Speech. For himself, his anxiety was well

known to return to that state of things in which pa-
per was easily convertible intro coin; big in a state of
war it wits itispiactiiable ; and since that a variety of
cfifficultiOs,' frequently arising out Of temporary csr-
ZumstanCes, previntzd any regular or effectual ar-
rangement for the purpose. Fru conduct on former
Sessions, even on the third day of the last, proved
that he wis desirous of calling the attention of Par-
liament in sufficient time to the subject; but, he re-
peated,. circumstances had frequently occurred to
render it impossible for the Bank to resume cash
payments, without involving consequences almost
ruinous in their werations and effects; and he had
no difficulty, then, in saying, that it might be neces-
sary, if not expedient, to continue the restriction be-
yond the sth of July, but for as short a period as
possible. But upon a comprehensive view, notwith-
standing the difficulties of the subject, he did not in
the least despair, upon due inquiry and considera-
tion, of a satisfactory and beneficial result being ob,
tained. The only remaining point upon which he
had now to observe, was the transaction alluded to,
which took place in America, relating to two indivi-1
duals (Arbuthnot and Ambrister). • Deprecating any
detailed discussion, in the present state of their in-
formation upon the topic, he could, however, say,
that the transaction did not appear to be authorized
by the Government of the United States, and even
took place without its knowledge. At present, he
should not farther occupy their Lordships' time.
The Earl of LAUDERDALE said, he did not feel
that extreme satisfaction at the Speech and the Ad-
dress now proposed, as had been expressed by the
Noble Lords.opposite. He rejoiced as much as any
one in the improvement of the revenue ; but he attri,
bitted that improvement to the industry and exertions
of the People—(Hear, hear.) But no exertions had
been made on the part of the Government to new-
model or ameliorate the system of taxation, as had
been done on the termination of all former wars.
Why had not the war taxes, which the People had
been taught, by those who bad imposed them, would
be removed on the return of peace ?—wh y have they
not been .uhntitted to the consideration and revision
of Parliament? Ministers have preferred taking
these matters into their more especial protection, and
the more constitutional course of Parliamentary in-
vestigation has been postponed to their convenience.
(Hear, hear.) Ile remarked on general principles of
political economy, that the commerce of this coun-
try could not improve, if that of other countries was
prohibited ; and he thought the time had now arrived
when we should reduce the taxes we have imposed
upon the importation of foreign productions. Ile
approved of the principle of the American Conven-
tion ; and observed, that no negotiator, however skil-
ful, could conclude a commoicial treaty, by which
he could secure all the advantages to his country and
yield *none in return. The Noble Earl then took a
review of the metallic currency of the country, and
crave it as his opinion, that as long as the present
Mint regulations were suffered to exist, so long would
Ministers rind it impossible to revert with safety to A
metallic currency.

The question being put, the Address was voted
nem. dic. and ordered to be presented by the Lords,
with white staves, to the Prince Regent.

WINDSOR ESTABLICIIMENT.

The Earl of LIVERPOOL now rose, when the noose was
growing thin.—" My Lords," said the Noble Earl, " I conc::ive
I owe it to your Lordships to state, before this !hope adjourns,
that on Monday next I shall feel it my duty to rail the attention
of the House to that portion of the Speech of the Lords Com-
missioners relating to the care of his Majesty's person, and the
Establi,hmeat in connexion with that import;:nt cM:rge."
The Noble Earl then moved, that the Lords be summoned
for Monday next.—Ordered.