Star.
London, England, 1819-02-03 00:00:00

he had seittieSiesi' aft dilitittous•tv..-,,
had befallen those countries.vthere it had been,
'lced. He denied that the system of other
aeries bore any assimilation to that which existed
• ; country, and therefore no such result could be
ehentled. Its those countries the paper circula-
had been enforced- but such was tot the case in
ingdont--(//ear, 'ltenr).--lie knew of no own-
, which the paper system existed in a similar
incr. France had certainly a National Bank ; in
Ater countries on the Continent their currency
iced its relative value. The resumption of cash
ens was a moasure calculated to injure the. bat
its of the country, and if the inquiry was. en.
tpon with rashness or precipitation, it would
:elated to produce an extreme that would be
.injurious, and bear with peculiar hardship on
mu classes of society. Owing, as they did, to
,00r man their first protection, it was to be con.
red that the inevitable effect of resuming cash
eat immediately, would be to throw a very
number of persons, out oremployment.—(lledr.)
'sect, that of the specie going out of the country,
led a proof of the wisdom of gradually resuming ,
iayments. it was to be considered, that there
sarket price of gold, and that no one would buy.
si of cloth at Manchester, or at any other ma-
wring town in England, if they cinitd, vithH
issued by the Bank purchase foreign geods•
per cent. cheaper. The Eight lion. Gentliman'l
ndeavoured to throw an odium round the Bank,
Or his part, he could not but remember that the
was the great body which had brought u"srn
through the vortex of revolutionary wars, and
insidered it an object of respect, as great as any
body can be. Not to tire the House with a
o.fstik!ects which were notimmediatelyinvolved
present question, he wished to call their atten.
o sotac new features in it of importance. There
facts of die greatest interest respecting tliii ques-
whidt had disclosed themselves since last year.
e w.as, r.o country like this •in respect of paper •
!..nion.. There was .no Government in Europe,
h was not employed -in 'endeavouring to ,solve
:rebler.l of acquiring•a metallic currency. They
every where endeavouring by forced means to
hack metallic currency. • A loan for not more.
three millions in .Russia, operated.so powerfully
ii Bank of even Paris, remote as:it is frontt.Sn
rs'eurgh, as nearly to prevent that sank from.
He thought that the House should,
,be discouraged. from hoping that the !lank will
Anne cash payments, but, it was .rior to be ex-
'td that it should do coat present—(fsetrr, hear.)
House knew the circumstances which previous
ad during the war obliged them to deviate from
legitimate course of cash payments, but great as
.! die difficulties of the war, let it not be supposed
they ended with the war. The interest of money
nearly cie'rlsle on the Contiaent w:iat it is in this
itry, but he believed that the credit •of this coon-
will ultimately establish those balances in our
sar on the Continent, which will bring the pre-
ss metals !Ito the country. lle protested that the
...unable Gentleman could not .be more nations
the serearns of the Crown are to return. to sash
ments. Although he had •ventured to state the
Limeats of his mind, yet if 'he should be. ou the i
ormninee, he would endeavour •to discharge. his
id of pre-coliceived opinions, and Would.be detec-
ted ' so:el y by the fads and Irgurnents which'
idol be pre,eint:ni to' his consideration.' be-
red that are rit'W iSfanilsers whom he had the plea-
se to addre,s, were of 111c...same British rnaterials-,-
'nr, It-faro—a,: the niejmity of the last Parliament'
is i had decided on this question.. N.hen the light:
In. Gentleman could not convince, it. was his 'vac-,
endeavour to `terrify but he.hcnie.l that his'
tempt On the.preierit occ&iori would meet tvith the
me success as usual.

Mr. B. COOPER (ISlemiver for Gloucester), coul4
bat think it strange that • the first question on
rhich the .Opposition thought proper to try their
rz.r.gtt by dividing the House, was cue on which
were 'all agreed—( A laugh.)—He thould, how-
per, vote for the motion of the Chancellor of the
zchelner—(Heat, bear, hear,)—because hc consi-
ered it more precise, and much more suited to the
,ere. Last year be gave a- silent vote for the con-
ai,tilee of the Restriction ; but he could not do so
lw without stating his sentiments. The reasons for
~..posing the continuance last year were very plain.
was then said by Ministers. that they thought there
a: at that time no prospect of any thing to prevent
ic resumption of cash payments in July, 1819.
. then were now the causes to prevent it ? There
!re causes he did not doubt, and in his view the chief
tu .4 was the immense load of unfunded debt in the
Lads of. the Bank of England. The remedy which
roposed for this was, that, a great proportion or,
it were 'passible, the whole of-this unfunded debt,
:ould lie funded. lie hid no doubt that tale Chan-
:llor of the Exchequer felt the inconvenience of such a
and.wouldhe much obliged to any one who would
few him how to get rid of it—Viear, and lau.ghter)—
:4. his own opinion clearly was, that-this debt should
ave been funded long ago and ',attire foreigners had
.:-.hdriwn.our capital from us. Another cause why
:e iestriction could not now be removed was, the

art of specie. To remedy•thit, he proposed that
'ailiament should compel the Batik t° lay • oat the
Lmount of the debt due to them be Government, as
t was paid, in the purchase of specie, to prepare lei-
be resumption Of cash payments. 'Jamie was still
mother cause for preventing the resumption, and that
was :he state of the exchange. In his view of the
..a‘e, these were the three great difficulties. It would,
.11e...eli)re, be necessary to revise the whole system of
Jur :taxation. if this were done, he was sure that
many great savings might be m.:de, and the revenue
,:ch raised. The expenses of collecting the revenue
.-.iFkt be exceedingly reduced. Besides this, he was
convi.xed that at least £4,000,000 annually might

be saved by changing the taxes. He would have the
system of as,,essed taxes, so oppressive to the
of the middle and lower orders, removed.
lie (night he asked what he would substitute in lieu
c these taxes ?" To this he would reply, that he
would propose a property tax—(Laughter and much
tviughing.)—Not an inquisitorial income tax, but a
tax to tall merely on property.—( The rest of the Ho-
nourable Member's speech was so much interrupted by
toughin.. and other noises, that few sentence. Ladd be
distinctly heard.)—The Hon. Member concluded with
!i;;llifying his approbation of the atriendmear..