Star.
London, England, 1816-02-13 00:00:00

fearr 4, iris Out
havi venteeell to malavanp agmeinent.
with elle nk.withotit inking the sense of Haase.
If be hesteonclucte4 that arrangement, he must
Agatha he differed sonsi,eompletely.With him
meet!pg ite merits. He Considered it as most dared
tan* for the public, Thenswas another, puirtt:
ihicalin:lsPfn Niro for had completely underitioo4., .
The Right HOl4 Gentlentan had said, that the best
way of relievkng the distress of agriculturalists would
be by OPPorting the public, credi4 that to attain
dm end he should abatain from all loins, and that'
be had conceived a. scheme which should have for
.object to enable fartners to receive certain relief
through the accustomed chant*, throne, which they
had obtained assistance. .He had then alluded to.
COUOLTY Banks, as having yielded that assistance....
Was it then intended that Country 'Banks should re-
(alive a stop from the Treasury, for the purpose Of
affording relief ?—( No, from Me Treaters Beech.)—••
Or was it thought that because no' loan was to be
taken, Country Bankers would have more money in
their hands with which to relieve farmers ? But that
would not be sufficient; it WAS the value of ,the far-
mer's property that ought to be augmented, in order
topitable them to procure relief. For by what magic
sould farmers raise on their property, if it remained
in the same depreciated state, a greater cumin future
than in the past. It was the. value of. their property,
therefore, which it was important to increase, before
such a source of relief could be opened. The Right
Honoorable Gentleman. also professed to entertain
most economical views he hoped it xas theca's..
But he relied only on the firmness of the .}louse a
the spirit of the periple far compelling retrenchment.
Should the Hume nut deny the means of extended
expenditure, the people mid the country would cote.
ceive that they were no longer represented, or that
their constituents had deserted their duty,
Mr. BROUGHANI did nor. intend to go mnclj
farther than his Right Honourable Friend. es 11*i
should have another occasion of discussing the sub-
ject. He felt himself called Roots, however, to fol-
ios* the'Cbencellor of ape Excheauer through some
of his details, partly to enter his protest against some
of the. measures proposed, with-nt which Goetrn-
went might prnc?ed to CR: ry thorn into- effect, nod
partly to en.rble the Right Ilonourat,le G-ntlerrttn
to go more at large into the exidanations which, with
his usual candour, he had professed himself ready to
give.. The first subject, and which WAS indeed up-
permost in the minis of all, was the distress which
now existed throughuut the country—(Near, hear.)—.
When he should remind the Right Honourable Gen.
tleamn of the picture preseLted in the Prince Re.
gent's speech, be would no doubt share a- feeling of
Oiappointment, after examining the state f things,
at finding it less flourishing thee it was represented.
'Those distresses were now acknowledged, for was
not his very first p an inquiry, how those great
distresses could obtain-relief ? Toe. Right lioneur.
able Gentleman bad alluded to a remark which he
(Mr. Brougham) had lately made on the situation
of agriculturists, but lie had ne cted o:hcr amide.
rations which he hid then setoorittcd, acid which -h:
would now briefly repeat, b-.:c.risse he hoped the can.
dour of that Right Hon.*Gentlenein would lead tarn
to consider Ahem more deeply. lie did not know
why he rejected leis prop's .1 respecting the limey
lases. Was it because the: d stresses or the costal'',
re.. ea., of s permarientiatiire 133 it Was beeatoe
they were not permanent ;*breaue.e. when things were
subsiding fromm, a state.ef 'tear to a state c l peace, and
during the moment of change great clistresses might
press upon the community, that he had suggested the
propriety of adopting wiertever welsid afford facili-
ties to borrowing on -mortgages, in order to enable
the farmer to hold out till the hour of dilfieoltY was
past, • Thai.would indeed prove a permanent relief
to the landed intereW It would be almost neeiless
ler him to say that the'restriction which the law im-
poses OR borrowing on mortgages at a higher rate,
than 5 per. cent. operated as a prohibiting). He
would prove it- by a single instance. Those Liklie
;trance Soci,r.ies, which, being wealthy bodies, were
in the habit of supplying loans, not only to other bp,
dies, but to i3:l:viduals, were the mast likely, as they
Sme the n:nst abh, et affording relief to LIMNS at
lowest inter eat. • put how did they at present
their :pit.ll? In no outi4stanee to the amount
01 a single shilime on mortgage security, This was
not the case hernerly—he spoke before a Gentle.
man who ceuld contradict him if he were incorrect.
They did not lend their capital on mortgage in.
terest, except in 'extraordinary cases, when they ob
tamed a bonus for doing so,. Ilut then parties had
recce'. se to raising money by annuity, and, instead
litif 10 or 20 per cent. were content to pay 8 per
cent. But then it was required that their life should
be insured, which formed an addition of 2 per cent.
tusking the whale interest 10, and sometimes in the
criuntry 15 per cent. The usury laws were the
cause, 4nd the oole cane, why money could oot be
'110; rowed at 5 per cent. and only obtained at 10, 12,
Or even 15 per cent. But the Chancellor of the Ex-
chequer would not alter them,. and said that he
should prOvide relief some other way, and how 1 He
'would net interfere with ',the money market,' but he
srfould'allow 14/millions of the Sinking Pond to go
to market, and redeem stock, which, placed in the
hands of tie Commis:meets, would, he expected, 'ul-
timately find its way to relieve the distresses of the
farmers Supposing, the usury laws retnAitted as
'they new were, what reason, what tier had ho to
expect that those IS or 'l4- ralions would go out in
loans at 5 per„cent. to individuals? To a- certain
trent. masses. thus created might bring relief to the
landed interest—but could any ene, Sho knew the
dithetilty orgetting one 'sixpence out of those bodies
on mortgage security, imagine that this plan would
at truce bring down- the interest from 10, Vond 15,.
to 5 per cent ? Its only operation would be to induce
those who pet the money into their pockets, to lend
it out in AprilliiieS at 10 per cent.- Be therefore en.
treated the Right.Honotitable,Gentlenson not to pro-,
teed oft such a vain hope and speculation as this, belt
to abandon his plan, andintroduce a MOM.% which
all men agreed woad be • perkolr ale, and Would
adord the degree of relief sought, it world.be with
(he same view that hg, should. throe, nut some ohm,
vitions on other matter: The' Riehe Gent*
man bad said nothing DE the obviate mew* of **r
lieving landed proprietors He. kW' not ;lauded to
the restrietimas on the exprxtatiun of "root, it was
iurmerly punished with death, and wee still tinted
As leldah and the Autos ,14 law 1114 S ibat the cow