Star.
London, England, 1819-02-09 00:00:00

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things were before Patharrient,.either to continue the
. taxes, or to continue the debt: Parliament reduced
• 15 millions of taxes, and in 'doing so they locesaw the
impossibility of making any thing but a gradual re-
duction in the debt of the country. Had his counsel
been followed, the taxes would have been continued,
and the debt would have been decreased. The Might
Hon.• Gentleman opposite (Mr. Tierney) seemed to
have been a stickler for the I•eductio:t of the debt.
. This was no more than being in effect a friend to
rigorous taxation. If he wished to tax, let him
speak out, and he would find a ready and a per-
severing friend in the Chancellor of the Exche-
quer—(A loud laugh).—But under all these circunn;
. stances -it was to he remembered, that the debt was
decreasing, and should the revenue continue to go on
in its present flourishing state, a rapid reduction of
the debt would take place in every succeeding year.
hear).-1( any one had come forward in
the year 1792,
.preceding the war, and prophesied
t;:at the country would have sustained itself through
so many dangers and difficulties, leaving at the issue
of it a debt of eight hundred millions, and paying as
it did from year to year so much of an unredeemed
debt, and after all be able to boast of an actual
surplus of revenue over its current expenditure,
such a man would have been regarded indeed with a
good deal of doubt as to his calculations, and have
been justly treated with ridicule, particularly if he
had added that the Government had been supplied
by the people with an annual income of seventeen
millions in taxes. He would reserve any further
observations to a future occasion. He found that the
best plan for him to adopt would be to wait for the
advice of his colleagues, and not expose himself. by
any unguarded expression to injurious conjectures.
lie should be happy to receive advice from any
quarter, but on the condition that he would be allow-
ed to make use of it according to his own discretion.—
(Hear, bear).—The state of the public accounts
was most favourable. A reduction of three millions
had taken place in the national debt for the year
ending January, 1819, and from the rapid progress
of the revenue, the best results. were expected.

Mr. ELLIS objected to the confident tone which
the Noble Lord had assumed in speaking of the im-
ports and exports of the country. In 1815 these were
large. The reasons why they had been so large were,
that our stores had been filled with the produce of
the enemies' country, and as soon as a communication
was opened, these commodities found their way to
the country they were destined for. In 1818, the
reasons • for an increased commerce were, that the
Chancellor of 'the Exchequer, by the extent of Isis
loam had actually depreciated the interest in the
market by about two or three per cent.; and the
conseque:,ce was, !hat capitalists were compelled to
employ their money in commerce. But now he would
state, without fear of contradiction, that there was no
market in the world where British manufactures could
not be purchased cheaper than in this country. Mer-
chants were anxious to get money in order to pay of
their loans. But the effect of this system was extensive
in its baneful operation. In Coventry, the labourer
obtained no more than six or .eight shillings a week,
and the d:fference which he required for the necessa-
ries of life was supplied by the Poor Fund—(/tear,
hear). The exchange between this country and almost
every other was highly unfavourable to us ; and in
that case, who would give his money here, while it
was in his power to dispose of it more advantageously
elsewhere ?

Mr. PROTHEROE expressed his unwillingness to
excite or spread apprehension in the country. He
thought the account of imports and exports by no
means a proper criterion by which to arrive at an
accurate knowledge of the state of trade. Whatever
were the state of imports and exports at present, be
affirmed, that distress prevailed to an alarming ex-
tent in almost every branch of trade. He shuddered
to think of the consequences which would take plaoe
if the prese^t system of finance were to continue
much longer.
Mr. MACDONALD was surprised that the Chan-
cellor of the Exchequer should have imputed to his
Right Hon. Friend (Mr. Tierney) a desire to support '
a rigorous system of taxation. He (Mr. Macdonald)
thought his Hon. Friend the firm supporter of reduc-
tion, and he would have been happy if the Right
lion. Gentleman opposite was as willing to aid his
Right Hon. Friend (Mr. Tierney) in what he anxiously
wished, as he had just expressed himself to be for the
purposes of a rigorous taxation—(hear, hear.) A
good deal had been said in praise of the Committee
on Finance. But they had neglected to point out se-
veral instances where economy might safely be put
in practice. tf they had considered the system Of
collecting taxes, they might have produced a great
saving. An Honourable Friend of his had stated,
that nearly two millions could have been reduced in
this department.
Si... JOHN SEBRIGHT expressed himself in favour
of the principle of Exchequer Bills ; for the present
enormous state of our capital required a floating :urn
to be kept up as a balance. By a proper attention to
the management of the public debt there might be a
saving made of upwards of 1:100,000 a year. He
disclaimed being an advocate for the Bank of Eng-
land extending the issue of their paper, but at the
fame time he mought they should give to the manu-
facturing interests a liberal supply, and by thus mi-
nilt-ring to the wants of that interest, materially in.
crease the amount of the Revenue for the coming year.
The Motion was then agreed to.
The SPEAKER called over the names of the
following Gentlemen as composing the Committee
of Finance :
• Lord Castlereagh The Chancellor of the Each*.
Mr, Bankes go, :f
I lush 011 Sir George Hill
Lord Binning Mr. 'l'.:;. Gooch
111 r. Calcraft Lord (live
Mr. Peel Mr. (1. Holfurd
W. Hart Davies Mr. t rtetray
Sir George Clerk Mr. U. 1. Smith
Sir Nicholas Calvert Mr. F. Lewis
Davies Gilbert Mr..l. 11. Tremayne
Mr. Littleton Mr. lhawle Wilbraham
. Mr. GRENFELL begged to ask the Right lion.
the Chancellor of the Exchequer, whether he meant
to- submit to the consideration of the Committee any
proposition on the Savings of the Bank ? A sum of
A.:230,000 annually had been saved, and he apprehen-
ded it would be a proper subject foe the Committee.
The CHANCELLOR of the EXCHEQUER said
the. proposition respecting that subject had not been

so properly matured as to be brought before the Cora-1I
mitteer.—lt was then ordered that the Committee do
meet to-morrow (this day).
WAYS AND MEANS.
The House went into a Committee of Ways and-
Means.—Ordered to report to-morrow (this day).
GAME LAWS.
Mr. MA DOCKS postponed his proposition on the
Game Laws till to-raorrow (this day).
GOVERNMENT CONTRACTS.
Mr. Alderman WOOD moved for a Return of the
Contracts whiclh had been entered into by Govern-
ment for Granite and other St.mes during the years
1817 and 1818.
Sir THOMAS MARTIN thought this exposition
very improper. The contracts entered into by indi-
viduals were of such a nature, is were not fitted to
meet the public eye. In fact, it would lay them ex-
posed to the attempts of designing men, and be pre-
judicial to private individuals. He therefore hoped
the Hon. Member would not press the subject.
Mr. Alderman WOOD said he was ill ,nrepared to
meet any opposition to the measure he had suggested.'
The knowledge of a particular fact made him more
anxious. By a particular contract, the public lost
1:60,000 or 1.:70,000. He was informed, that stone'
may be supplied at Sheerness and elsewhere, at a
rate which would give a great saving. A contract
had been entered into for 16000 feet of stone, for
which Government were to pay 4s. 6d. per foot; but
he had been informed that it may be landed at Wa-
terloo-bridge for 1 s. Gd. and, by only employing con-
victs at Is. 6d. a day, would be doing a great benefit
Ito these creatures, exclusive of the saving. He was
unwilling, however, from the thin state of the House,
at that time to press it.
The CHANCELLOR of the EXCIIEQUER then
said that the proposal that had been suggested was
very objectionable.—The Motion was withdrawn.
At Nine o'clock the House adjourned.

THE EVENING STAR.

LONDON.

TUESDAY. FEBRUARY 9, 1819.
THE FUNDS.
PRICT. Or STOCKS THIS DAY AT ONE, O'CLOCK :
Bank Stock 259} Bi—Uranium pry. dis.
3 per Cent. Reduced 77fliii—Cons.77i
Cons. for Acc. 77ii 61-3 i per Cent. 861 j
4 per Cent. 951-5 per Cent. Navy 1051+
India Stock 2281—India Bonds 77 79 pr.
Exchequer Bills (2d.) 10 15 pre.
The distress continues in the Money Market, from
the great difficulty in getting good bills discounted.
Consols are a trifle better, but the sales of Stock
still continue to an immense amount. Consols this
morning commenced at 77i1 for the Actount, and
had not varied a fraction up to 12 o'clock.—At that
hour the

came into the Market, and
were served at 771 Red. by the Jobbers generally.

There was a fair trial of the strength of Parties
last night in the House of Commons, on a Motion by
Mr. CALCRpT to have the name of Mr. BROUGHAM
added to the Committee appointed by ballot to in-
vestigate the affairs of the Bank. Ministers, as might
be expected, resisted the Motion, and succeeded id
getting it rejected by a majority of only 42; the
numbers for the Motion being 133—against it 175.
This, at the beginning of a new Parliament, speaks
volumes as to the state of the public mind : and we
are inclined to think, had the possibility of such a
result been anticipated, Ministers would have agreed
to the Motion, and not divided the House. When
Mr. ADDINGTON resigned his situation as Minister,
his majority was little inferior to that of last night,
being then 97.
The Finance Committee was re-appointed last
night on the Motion of Lord CASTLEREAGH. In
moving this re-appointment, his Lordship went at
some length into the state of the Revenue, and repre-
sented its produce for 1818 as exceeding that of the
preceding year by upwards of three millions and a
half, leaving a considerable excess for the public ser-
vice. So far the facts bear out his Lordship's state-
ment; but Mr. TIERNEY contended, and so will most
people, that, in such statements, both sides of the
account should be fully exhibited. The Sinking Fund
of fourteen millions and a half, he observed, ought to
have appeared in the statement, and then it would
appear that the income of the country would be thir-
teen millions under its expenditure. The fact is really
so, and it is surely high time that some change of sys!
tem should be adopted. It is indeed a Sinking Fund
—a mill-stone on the neck of our national industry,
which presses so continually as not to leave a mo--
ment's respite. Suspend for a time the operation of
the Sinking Fund, and reduce your Taxes, and you
will soon bring the Nation through all its difficulties.
Instead of draining the last mite of industry, by al-
lowing it to remain with the people, it will every
year produce an increase, and become a capital on
which you may on any future exigency make large
drafts without ir.jury. It will not then be in the
power of ,any Member, as was the case last night,
to state in the face of the country, that in one of our
manufacturing cities (Coventry), a workman can
only obtain for six days labour, of fourteen hours
each, only six shillings !!

The Paris Papers of Saturday arriced this •fort.
noon; but do_ not furnish us with any French news
of importance. A Frankfort article states, that ac-
cording te private accounts from Berlin, Colonel
NfAs.sEnuAcu has been condemned to pass the rest
of his life in the dungeons of a Prussian fortress.
Had the Prussians the blessings of the Fret Consti-
tution, -which their Kits so solemnly promised tlieni

several years no, Colonel -111Assr,:snerr would at
least have had the benefit of a trial before he was
thus immured for ever from the world. Had the
King fulfilled that promise, the Colonel would ne-
ver have had occasion to give the offence which has
brought down• upon him this severe visitation cf
royal vengeance. French 5 per Cents. Friday, 71 fr.

We have received to-day a farther series of Ame-
rican Papers to the 15t1. instant. Our limits to-day
oblige us to be very brief in our extracts. nom an
Official Statement which has been published it ap-
pears, that the discounts by the United States Bank
and its branches amounted to 34,713,000 dollars, and
that their total deposit do not exceed 24,607002.
The Directors have commenced a system of economy
by reducing the salary of the PRESIDENT and CASHIER
to 6,000 dollars a year, and the salaries of all the
other Officers of the Bank, '2O per cent.—Advives
from New Orleans state, that in consequence of the
lowness of the waters of the Mississippi, very little
produce had reached that city ; that business was
quite at a stand, and the merchants much embar •
rassed. The best mercantile paper was at a discount
of 21 per cent. per month.