Star.
London, England, 1816-05-02 00:00:00

Ti4E EVENING STAR.

LONDON.
. THURSDAY, MAY 2, 1816.
PRICE OP S COCKS THIS DAY AT IWELVE O'CLOCK
Reduced 61—Cons. mu. 62i—for Acc. 621 i
4 per Cent. 7SI 76-5 per Cent. pa—Bonds ss. 61. pr.
Onin.l9l—Exch. Bilb 3s. 6s. pr.

Last night Mr. HORNER moved for a Select Com-
mittee to be appointed, to report on the necessity of
renewing the B.ink Restriction Bill. We are sorry
to see that the same delusion prevails against the' re-
turn tb cash payments, which has hitherto given to
the Proprietors of Bank Stock an enormous profit at
the expense of the rest of the community. It is a
proposition so self-evident, that the Bank cannot gain
any thing but what others must /are. that we wonder
how any person cln have an understanding so obtuse
as not to see it. Let such men look at the effccr pro.

duced by the intimation of the bare possisility of cash
payments being deferred, and their eyes might he
opened. Bank Stock instantly rose between 17 and
18 per cent.—from which any one may easily calcu.
late the quantum of anticipated gains to the Bank,
which the Landholder, Merchant, and Manufacturer,
is expected to pay.
The utter ignorance of all the elements'of political
arithnietic manifested by some men, even in Parlia-

meat, is really lamentable. The diminished circu
lation of paper is urged as a reason for deferring
the return to cash payments ! nor can they *agree
even about the cause of the diminished circulation.—
Any common retail dealer may understand it. Lately
corn was at half the price it would have brought a
few years ago, and, of course, could require only half
the amount of the paper medium to represent its
value. Other commodities have also fallen in price,
operating a similar reduction, and gold is new
coming forth from its hoards still more to lessen the
nominal amount of paper in circulation. Paper is
always the representative of a real or supposed value
of circulating capital : reduce the nominal value of
the latter, and, by necessity, you reduce the former as
a matter of course.
Again.—.A time of diminished circulation of paper
is of all others. that which is preferable for the re-
sumption of cash payments—because a less quantity
of bullion will suffice =and because an increased cir.
cola:ion can never take place till an enhancement Of
the nominal value of the circulating capital has been
effected. But along with this, if the present system
is continued, you must have an increase in the nomi-
nal value of bullion ; or, in other words, another de-
preciation in the value of Bank-notes. Will such a
time be preferable to the present for renewing cash
payments No : the thing will then become next to
impossible, if we judge from past experience; for
every such depreciation puts the amount of the diffe-
rence into the pockets of the Bank Proprietors, who
have never yet been compelled, as they ought to have
beep, to lay by their surplus profits to meet the no-
minal rise of the price of bullion, but have hitherto
been permitted to divide these unfair profits among
themselves, from time to time, as lanues, besides in-
reasing the amount of their dividends.

1•1•01........
Philadelphia Papers to the 20th Match arrived I
this morning.
Pros the National Intelfigencer, March Is.—The
'Gazette mentions that the extensive American pro-
perty confiscated by Christophe at St. Domingo,
must claim the immediate attention of the Executive
of the United States. Ten vessels had been seized—
the estimated property 125,000 dollars.