The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-11-30 00:00:00

HOUSE OF COMMONS.—TutsDAY.

The following notices were given:—
By the CHANCELLOR of the EXCHEQUER, to move, on
Tuesday, for a committee to inquire into the causes of
the recent commercial distress, and how far that distress
had been produced by the law regulating the issue of
Bank notes. By Sir G. GREY, for Tuesday, to ask leave
to bring in a bill for the better repression of outrages in
certain districts in Ireland. By Mr. F. O'CONNOR, on
the 7th of December, for a committee of enquiry into the
means by which the dissolution of the Parliament of
Ireland had been effected. By Mr. C. ANSTEY, on an
early day to move for papers connected with the adminis-
tration of foreign affairs since 1829, with a view to the
impeachment of Lord Palmerston.
Dr. BowniNo renewed his motion relative to a decimal
coinage.
The Queen's speech having been read,
Mr. HEY-WOOD moved, and Mr. S. ADAIR seconded,
the address in answer-thereto.
Mr. H. GRATTAN propounded an amendment, which
was seconded by Mr. E. B. ROCHE, to the effect that
although the present Poor Law may materially alleviate
the existing distress in some districts in Ireland, yet, as
it is quite inadequate to meet that distress in other dis-
tricts, it is therefore absolutely necessary to devise im-
mediate measures to avert famine and pestilence from a
large portion of her Majesty's subjects in that country.
The debate then proceeded mainly on the state of Ire-
land ; the members taking part therein being Mr. H.
Drummond, Sir George Grey, Mr. John O'Connell, Sir
Benjamin Hall, Mr. Maurice O'Connell, Mr. Meagher,
Sir William Somerville, Mr. Augustus Stafford, and Mr.
F. O'Connor, after which Mr. H. Grattan withdrew his
amendment. _ _ _

Mr. 'HENRIES proceeded to address the House on the
subject of the late proceedings between the Government
and the Bank, adverted to in the speech from the Throne,
but the Chancellor of the Exchequer declined offering any
observations on the subject, until he should move for the
committee of which he had given notice.
The address was then agreed to.

HOUSE OF COMMONS.—WEDNESDAY.
On the bringing up the report on the address,
Mr. OSBORNE entered into a general review of all the
topics alluded to in the Queen's speech, dwelling more
particularly on the condition of Ireland. As an Irish
landlord, he bore his testimony to the success of the Irish
Poor-law, and censured the conduct of many landlords
for their eager desire to get possession of the land, driving
:families from their homes into bogs and drains. He ad-
mitted the necessity of some coercive measures to sup-
press outrage, but as long as the peasantry were ill-housed,
ill-clothed, and worse paid for their labour, there would ,
be no safety for life and property.
'Lord G. BENTINCK expressed his surprise that the go-
vernment had not.thought it worth while to state their
reasons for giving the bank permission to violate their
charter. He attacked the government for their tardiness
in granting even this relief, and reviewed the pressure that
was obliged to be brought to bear on them to cause them
to yield. He then contrasted the commercial condition
of this country with that of other European nations, to
show that the misery we were now suffering was the re-
sult of free trade. While our factories were almost stand-
ing still, and our operatives famishing, other countries
were sending•to our markets, and actually buying cotton
in Livernool at three halfpence per pound less than it
could be obtained in the country where it was grown.
Thus, also, was it with sugar and with tea, so that the na-
-ture of our free trade commercial operations was to ena-
ble us to supply foreigners in Europe with tea, cotton,
sugar, &c., at a less price than we paid for those articles
in the markets from whence we bought them. This was
a clear proof that other countries which adhered to pro-
tection, and which would concede nothing without an
equivalent, were in a state of great prosperity, profiting
by every loss we sustained ; while on the other hand Eng-
land, with its free trade principles, was reduced in the
eyes of Europe, to a state of shame, bankruptcy, and dis-
grace. (Cheers.) Could anything be more disgraceful
than for the government to sanction a grossly usureus
rate of interest which, they must well know, commerce.
could not legitimately pay ? (Cheers.) They had been
And still were enabling the bank to play the Part of the
usurer and the monopolist, and to say in the words of Sir
Giles Overreach, " All men must be sellers—we the only
buyers." The noble lord then referred to the dreadful!
calamity which had fallen upon our West India colonies, 1
upon the Mauritius, and the East Indies, and entered his
solemn protest against proceeding in so rash a course.
How changed were the whole circumstances of the eountry
since the time when it enjoyed the blessing of protection !
Now the peopYe are starving in the midst of plenty, and
at the moment of our returning thanks to Providence for
granting us an abundant harvest. The noble lord ridi-
uled the notion that the distress could be attributed to
the absorption of capital by railways—the whole amount
thus abs o_ rbed not exceeding £85,000,000 from 1841 to
1847 (bOth years inclusive), or about £12,000,000 or