Star.
London, England, 1821-05-05 00:00:00

CASH PAYMENTS.

Lord LIVERPOOL moved the Order of the Day
for the third reading of the Bank Cash Payments
Bill. The Noble Lord briefly stated the object of the
Bill to be, to enable the Bank to do nov what they
otherwise would not have the power to do till May,
182`2. The present power given to the Bank was
purely permissive.
The Marquis of LANSDOWN intended to offer
no opposition to the Bill, which he thought would be
productive of much benefit to the Public. It would
be of much advantage to the Public, that gold should
not be hoarded in the coffers of the Bank, but should
be spread over the community at large. But the pre-
sent measure would not settle the question as to the
sups for expediency of a paper or metallic currency,
and no decision on that subject had been given by the
Bullion Committee. If the adoption of either of the
READING SAUCE. I systems would put a stop to the mass of crime that
'
had overspread the community, it should be done
JoCOCKS,__ the Inventor and Proprietor of the without delay. But on that subject, be wished the
CELEBRATED READING SAUCE, begs most rc-
'Paddy to caution the Nobility, Families and the Public House for thepresent to suspend its opinion. It had
'Visit the daily frauds and impositions practised by many Igm: I been a matter of doubt, whether forgery under the
in Ned Country Oilmen and Fish Sauce Venders, to deceive paper, or coining under the metallic system, was the
imildsprive there of the I worst; as in the same time that 3191 had been tried
GENUINE READING SAUCE.
Bane are genuine but those which have the corks sealed with for coinage, 1581 had been tried for forgery. He
stl's 101wildee," .T. Cocks, heading;"and also the following thought that the Bank should be compelled to buy
Ill.criPtian at the Sauce, on an orange-coloured :abet, " Reading bullion below the Mint price. It had not been in
SaoMe. for Fish, enriching Gravies, &c. Preiaircil and Sold, ' contemplation of the Bullion Committee, at Lie time
Whoiessle and Retail, by .1. COCKS, Reading." I they made their Report, that further additions would
This Sauce Is generally used at table with ill sorts of nil,
in Preference to all other Fish Sauces, and is esteemed peculiarly be made to the burthens of the country ; and had the
V,ideos with Game, Wild Fowl, Hashes, Steaks, and Cold expenditure of the country been- reduced, it would
. eat. Warranted to keep good seven years in any climate. have altered his view of the subject. No one who
It" Preowned that no Sauce ever met with such ;;:ncral appro- looked to the distress of the country but must see that
..halloo and extensive sale. It is pattonised and recommended .
by most of the &EST FAMILIES in the Kingdom, and is retailed it. went far beyond what world 'follow from the dif-
-12,, Edon by 250 of the most respectable Oilmen and Fish ference of the value of bullion. In adopting the re-
'2we Venders; in Bath, by 3o; Bristol, 20 ; Edinburgh. Glas- commendation of the Bullion Committee, Govern-
Mr:: Santee Dealers
Aberdeen, 50. ; and by nearly all the principal, merit at the same time should have diminished the
re in the United Kingdom, most ~f whom ft.l
public burdens.
Coces's Genuine and Superior Essence f Aticuovnts, uuile
ce of the Sinking,Fund
link prime Gorgona Fish, rich as possible. i had Lsa.n abandoned, and it was useless to ding to

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A N ADDRESS to the IMPERIAL PARMA-
MENTT upon the Practical Means of gradually abolishing
the POOR LAWS, and Educating the Poor systematically ;
illustrated by an Account of the Colonies of Frederick's-cord, in
Holland, 'and of the Common Mountain iu the South of Ireland;
with general Observations.

liy WILLIAM HERBERT SAUNDERS, Esq.
" That good may be endeavoured, it must be &limn to be
possible !"
This Work will be found to contain many practical facts upon
a subject to excite very general interest.
hinted by Wllilass Sams, Bookseller (by appointment) to his
Royal Highness the Duke of York, Sc. James's-street.

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Lama front the Kano to his Pawls. Twenty-second Edition.

the shadow—to add to the burdens of the country.
By altering many of the Taxes, the Public might be
relieved, so as to have substantially the benefit of a
Sinking Fund. Various expedients had been pro-
posed to relieve the public distress. One, from which
he recoiled with horror, was to break faith with the
public creditor; another, to alter the standard; and
the third, and the only practicable one, to reduce the
expenditure to the income. In that alone the safety
of the country would be found to consist.
. Lard LAUDERDALE would recommend much
caution to the Bank, in making use of the privilege
granted by the Bill. The price of gold had remained
stationary for six months, and that shewed them was
no fair market. That appeared from the variation
irr the value of doubloons, and the value of standard
gold should be £3 19s. 7d. instead of £3 14s. 7d.—
The point as to what was the best species of cur-
rency had not been settled by Parliament. Gold
could only be got by the exportation of manufac-
tures, and if it led to that effect a metallic currency
was certainly useful to the country. From the pre-
sent price of silver, he believed that no country held
out such an encouragement to coining, as from a
silver currency, equally good as that from the Mint,
there would be a profit of fourteen per cent. to the
coiners. He was as favourable to economy as any
man, but he did not see how the establishment could
be reduced lower, consistently with the welfare of
the country. He did not see that by any reduction
a saving would be effected of a million, a half, or
even a quarter of a million. At one time he thought
a change might have been made in the value of the
denomination, when the Bank-note was at 16s. But
that time had been allowed to go by. Perhaps silver
might be made the standard of value in the country,
instead of as at present being a legal tender to the
amount of 40s. He entirely concurred in the opi-
nion of his Noble Friend as to the nature of a Sink-
ing Fund. Much relief would be afforded to the
community by taking off taxes to the amount of the
Sinking Fund, and it would also have the effect of
rendering the other taxes more productive. He was
very happy that the present measure had been
brought forward.

Lord ICING said, that economy on the part of the
Government was the only way to relieve the public
distress. Did the House of Commons vote that the
public expenditure should be reduced by fifteen mil-
lions, he had no doubt but that the Noble Lords op-
posite would, with that reduction, be able to carry
on the Government. He thought the measure abso-
lutely necessary. At the same time he thought the
measure should be accompanied with others calcu-
lated to give it a more effective operation. He was
of opinion the exact expense of the coinage should
be taken out of it, which would amount to one per
cent. and was called brassage. Gold would always
be somewhat cheaper in England than on the Con-
tinent, and we should coin, not only for ourselves, but
for all Europe.
Lord LIVERPOOL said, that after the passing of
this Act, the question as to the greater expediency
of a paper or metallic currency, would become much
more difficult to determine. Taking all things into
consideration, the inclination on his mind was in fa-
vour of a metallic currency. The evils of over trading
and over speculation would be much greater under a
paper than under a metallic currency. But he wished
to keep his mind open, and should he see cause, he
should not be ashamed of changing his opinion. The
country, up to 1797, had a metallic currency, and
that weighed mUterially with him. For some months
back, gold, to the amount of half a million, had come
into the country. Since the close of the war, Taxes
had been taken off to the amount of 16 millions,
which was a great relief to the country. In coun-
tries such as America, where the taxes were ex-
tremely small, the distress was greater than with us;
and that proved that the distress was not necessarily
connected with taxation. Nothing had kept the
country in a more feverish state than the continuance
of loans in the time of peace. If there was no Sink-
ing Fund, there would be nothing to meet the ex-
traordinary demands of the country ; and in that
respect, no more had been done by Government than
was done by all prudent individuals. Nothing could
be more shameful than any attempt to break faith
with the public creditor; and it had been justly said
by a great statesman, that if a Government could
not pay its debts, it ought to say so manfully, and
if it could not pay 20s. in the pound, to pay 15s.—
The amount of the Half-pay was equal to the whole
expense of the country in former times ; and that
was a thing that could not be controuled either by
Government or by Parliament. It amounted to
five millions. -

The Marquis of LANSDOWN, the Earl of LIVER-
PooL, and the Earl of LAUDERDALE explained.
Earl DARNLEY conceived that much reduction
must be made in all branches of public expenditure.
The Duke of WELLINGTON said, that if the
whole of the Ordnance Estimates should be reduced,
that would not take more than one-third from the
Army Estimates.
The Bill was then read a third time, and the
House adjourned to Monday.