Star.
London, England, 1819-05-11 00:00:00

row he should maw ta• a eopy of zu ?gets co, ,1
the Opthaknie F.stablighment.
should 1
move
for do 110NCK gave notice, that on the 2, h
cuments respecting the wit, of tsar ga die British Fore,' of i the
str C. pONCK We notice, thst on Ti..tda,,
May, be sheu!d move for Pa?cri reop.:.:Tin i -,t,. pad= of the Town of l'rz.,
year 1814. by I.:s NJ::-,. isy., '
On the motioanf Lord 1. 11.111ILTOY, $,
nu
a,d Mr. ‘Vit,f.bot lksuir were added t.) tr
for examining th: l'etitions re.y.ctinT S,:.itet, I.
The American Fivhery Convention BM vr!s
time, et7d ordered to be connr.it,ed to-morr,A.t,
The Scotah Jury Couru 11111 went throuth at:
was ordered to be reported tomorrow (this day

PARLLIME.VrinIY nrPo,

Tilt
fly the Lords' Committees appeii.ted a Scent
quire into the state of the iya-ik of England, wi
the expediency of the resu:rptvm of c,sl/4.pkii
riod now fixed by lAw, and into such other
connected therewith; and to report such Hor
them, as may he disclosed ....idiom injury v
term, with their obstrvati•Jri :

Ordered to report—That the Comrnittet
soma to the inAructions given to them bv
prcceeded to enquire into the several m tti .e etc
r
nines en
to them, and have collected from the exaion witnesses, and from the accoisats laid befort them
information which will be found in the Minutes"
Evidence, and in the Appendix.
The Committee think it right to premise,
this investigation they have taken as their guide
decided opinion of parliament, as declared by itc
repeated enactments, that the removal of the rest
tan upon cash payments by the Bank, or in,
words, the restoration of the currency of the c(
to a state of regulation by its ancient metallic
dart!, is an object uhich ought to be accompl
, at as early a perrod as shall be found safe ;Ind
cable. The first Act, confirming and continuii
' restriction contained in the Minute of Council of,
96th of February, 17p7, was passed on the 341 of Nt
1797, and was to be in force till the (4th of ,
1797. The restriction wis further continued by
Act passed on the 22d ofJune,l797, until one mot
afterthe commencement of the next Session of
liament. By another Act, passed on the 30th ay
vember in the same year, the restriction was fun
continued until one month of•er the conclusion of
war by a definitive Treaty of Peace. On the Sd
January, 1799, the Directors of the Bank, in 7
stiance of a power reserved to them by the Acts
Parliament referred to, :Ave notice that on the'
instant they would pay in cash all fractional
under ; and, on the Ist of`February,lBoo,
pay cash for all notes of!.."1 and CR, dated prior
the Ist of July, 17 IS, or exchange them for
notes of the same value, at the option of the holder
By another Act, pa:sed on the SOth of April,
the restriction was continued until the Ist of M
1803. On the 28th of February, 1803, it was.
continued until the expiration of six weeks aft

commencement of the then next session of IN'
went. On the 13th of December, 1803, the
,

being then again at war, it was further coati.
until six months after the 'ratification of a definite
Treaty of Poace. In the year 1812 an Act w-

for preventing any note or bill of the. nks
land or Ireland from being received fora.
sum than the sum therdn ireciiied, and for

proceedings upon distress by tender of such ,
and in 1814: this Act was further continued dal
the continuance of any. Act imposing r
the Bank with respl.ct to payments Incas)).
By an Act passed on the 18t# ofjaly, 1814, the
restriction upon the Batik wattentinued until the
25th of March, 1815 ; and it was farther continual
by an Act passed on the 23cl of March, ISIS, to the
sth day of July, 1816. On the 21st of March, 1816 e
an Act was passed ; by which, after reciting in the
preamble " that it was highly desirable that the Bank
should, as soon as possible, return to the payment ri
its notes in cash ; and that it was expedient that the
provisions of the former Acts should be further cm-
tinued, in order to afford thee to the Directors tithe
Bank to make such preparations as to their disconim
and experience might appear most expedient kr 41.
abling 'them to resume payments in cash, with*
public inconvenience, and at the earliest period;sal
that a time should be fixed at which the said rer.ric-
tion should cease," it was enacted, that the said Ks.
striction should be continued until the sth of Jnlb
1818. On the With of Ma.y, 1818, another Act as
passed, by which, der tacking in the primal
that it was highly desirable that the Bank of Eng-
land should return as soon as possible to the papal
of its notes in cash, and that unforeseen circumstancet
which had Occurred since the passing of the lot
the preceding Acts, had rendered it,expedient that
the restriction should be further continued, and that
another period should be fired for the tetminatica
thereof," the restriction is further continued until at
sth of July, 1819. Of these unforeseen circumstances,
the most important was the apprehension of the effect
of further foreign loans (particularly those of France)
upon the exchanges and the price of gold.
Subsequent to the first resuiztion upon the Bark
of England, similar -restrictions were imposed a:A
continued by different Acts upon the Bank of Irtla.:l4
and their termination was fixed at three months attet
the ei pi ration of the restriction upon the Bank of Eng-
land. During these successive prolongations the Bank
appears at different periods to have made great eater
tions to procure such a Mass of treasure as IMO
enable it to replace itself upon its ancient footing,
whenever it should seem good to Parliament to re-
move the restrictions. In 1708 the treasure was in-
creased to an amount which bore, in the early pal
of 1799, a very large proportion to that of the ot:-:
standing notes. During the years isarnediately.tr
sequent, this Measure experienced a considerab!!.6
t
duction ; but from the middle of 1804 to the mslll
of 1808, the favourable state of the exchanges eV
bled the Bank to mate large purchases in gold.
order to encourage the importation of gold, the ,••
rectors determined to give 4!. per tr. andthe ..e
sure was so much augmented as to have es-
,
1808 the highest amount which it had rewfbr....:
17.99. From that period it sur.cessively slechne,l,„e
The restriction was prolonged in 1814, 014
25th of March, 181,5, and in 1,;fl .5 on:y Sc' die
'July, 1816 ; but, the esti Joridinary high
•
and the extreme tivr es on of the escnanges. %tor
o fitl.sliesswhateverc, gee
••
to LiovetiMscat the. el

:fts (As the
,44.411
h or
1 gt
T "-"T o
i
112:. • 1.4
4::°1 Sr w
f. „he. r At
Keh J. rek4l4l
6
°PO a Cultnl•;...
trPORT.
;eerpt cornnii..„
Lend, with worm. t
”1/47krttents h;
co other rezrtay 4
ich i!!flerro..ien
injury to the riot:4 •
mniittee have, ,
them by die fi.
ral m mets tef
the eaamination.
aid bcfort: then;
in the Minutes
to premise, that.
n as ti)eir guide
s declared by ....
nova' of the
Le Bank, or la
•ency of the c,
icient metallic
.o be accampt...
Rind safe ;Ind
and continuing
ite of Council of
ed on the 3.10 f MIT
1 the (24th of J..
ter continued by .
1-97, until oce mg.
eat Session of Pe
on the Soth of N
friction Was fu
he conclusion 0f,..
ace. On the t'id
▪ the Bank, in pat
hem by the Ac;s
ice that on the Ikk
all fractional cu.,.
bruary, l 800, us •
I £2, dated prior to
aste them for nes
iption of the holden.
out of April, IBA
til the Ist of rink
• 1803, it wag limbs
six weeks afte7 the
:t session of Parlia.
1803, the palmy
s further cantinrc4
ation of a defining
an Act was passed
r Qv. Banks of ,
caved for a. -
ied, and for staying
nder of such %gen
er continued during
sing restriction
its an cash.
of July, 1814, the
continued until the
s farther continued
Ifarch, ISIS, to the