Star.
London, England, 1811-05-08 00:00:00

iwns, they —c, ......._ _ exported,
because silver was more valuable on the Continent
than it was fixed at in this country with reference to
sold. At this moment they had the silver
oI

and

depre-
ciated2s per cent. and the gold at its full standard,
and was it possible but that the latter would be with.
drawnfrom the country. Yet Gentlemen talked
•
of the Bullion Committee ring to repeal the laws,
or instigate by a ne,v coinage to fraud 1,14 perjury.
Why did they not know that the laws were of no•
avail to prevent the exportation of coin, and that their
very existence was the source of that fraud and t•er.
jury ?—When the paper, or either of the metals in
coin were deteriorated, it was evident that whatever
was pure and standard must disappear. I; was im:
possible to prever,t the exportation of guineas, on
which there was a profit of 25 per cent. when it could
not be prevented when the profit was only I v! per
cent. The only remedy was to restore the cßip to
the full and standard value. The Honourable Gen-
tleman then went into an examination of she conduct
of the Bank, in raising the price of dollars froni4s. 6d.
to ss. 6d. and combated the arguments adduCed of
their not being the coin of the realm. If a foreigner
Eaid Mr. H.)' were td ask the nature of the coin of
ngland, its value and denominations, he would be
told that each shilling consisted of the sixty-second

.. _
..ier in win,— __ _ , been called
just ..one-tenth, s. , ... tne tari....
by the Right Honourable Qentleman who had i every commodity - reference to gold would 'be i part of a pound troy-Of silver, and that each pound
sat down. He confessed to the House that he felt decreased one half. It was, therefore, idle to talk of 1 troy of gold waS`to be divided into multiples, bearing a
himself labouring under a great difficulty in having absolute deficiency or excess of currency. There could ! proportion of 44.,guineas and a half to each denomi-
to recur to principles already so fully andtuminously be no well thing ; there could be no excess in money. ; nation.: and that to guard against the possibility of
stated, and to details on which these principles were But the same arguments would not apply to the issues ; taking .this coin at a lower rate than was fixed by
the sole foundation of the money system, not only in of the Batik. 'lf by an Act of Parliament the half.; law, it was governed by weight, and that only.—
this, but in all other countries, he trusted they would guinea should be ordered to pass current for a guinea, 1 Being told this, he mightnext be informed, that
extend their indulgence to him while he endeavoured and the paper should become still more deteriorated I foreign currency of 41.6 d: passed for .ss. 6d. and if
to refute the Right. Honourable Gentleman (Mr. the consequence would be, that the prices of all ar- ihe asked how this was possibltftafter the definition
1
Vansittart), 'Nilo had advanced op4ons which shook tic would be doubled, and all contracts would be Ihe received, he could get no other answer than that
that system to its vcry.basis. Those
.Gentlemen ac- I vititited ;—yet it could not be said that there was 1 our silver currency isos so debaseiliAlS4 tli•propor.
t .
. •