The Statesman.
London, England, 1821-02-23 00:00:00

PRIOR

country. By•this operation the market wu in a he-
titioos state, and the fictitious state of the market led
the Committee into the error of which he complained.
The ealenl ition that the difference in the price of
gold would not be greeter than from 4/. 4r. to
V. 17s. 141 was founded en as erroneous view, the
effects of which the country had much cause to lament.
With respect to the state of the Agriculturists, he hat
heard the Noble Lord (Castlereagh) declare, that La
would not object to a Committee to inquire into their
situation, provided the Committee did not inquire inset
three things—the State of Taxation, the Corn Lens,
and the (7erreney. Now, he would object to a Com-
mittee of that House going up stairs to consume public
time, When they could not hold out any hope what.
ever to the country. It trubetier for the none
not to deessfee itself; the danger fru excessive. Bin
country roved ea the ?erg* • s 4 oirroof Most**
and Par:lA:neat ought manfully to look into its
situation before it was too lase.—(Near, hear.)—
At the time the Report of the Committee had beets
brought down to that House, he was of opinion teat it
wonld have been impossible tor the conatry to return
to its ancient standard ; if that were his opinion then,
how mach more forcibly, with the experience of the
last two years before him, must it be his opinion now ?
Ile was convinced. that the measure which the Com-
mittee recommended, produced greet and uirivereal
distress. It took away one-third or one-half of the
capital of ev..ry man, merchant, or ship-owner, en:rat:-
ell in trade. Its effects upon the farmer were not less
revere. In lrilti, in consequence of the great Issue
of paper, prices immediately rose, and the farmers
saw good times again ; depression succeeded, but vain
ho;ies of Inure prosperity remained. Those hopes is d
men directly to their ruin—those treacherous hopes
of brighter days were created by the Paper Curreary,
and greatly tended to aggravate the evils of the svis-
tem—not merely with respect to farmers and trade,.
men, hut country lientlenten. Anxious as lie was, to
give every relief to the agricnlturist, he yet would
nut lend himself to the delusion of the Committee,
which would he restrained from examining alnio“
the only questions 'worthy their attention.
Mr. P. tiItIiNFELL regretted that his Hononrable
Frieud did not reserve himself fur a fitter occasion.
lle was of opinion, that every thing which happened
since 1 bI9, demonstrated the soundnees of the opinion
en it Isich their Report had been founded, it was not
correct to impute to the measure recommended by the
Committc., any part of thedistress which pressed np, a
the Country. Before the Report of the Committee
had beets brooght down, the ttaak of England had
the option to issue the coin of the realism, but the Ranks
of Pmgland and lrelan:l were about that time restriesed.
and it was not at present in their power to pay sums of a li-
mited ananaust is specie. . Litalmeisirosi open It seilsoiftMor
that the restriction should be remneal. and that
the hanks of the country should have the option to
pay in gold.
Mr. ELLICR eeplaineil.

Mr. lIUSKINSIiN expressed his regret, that the
Honorable Gentleman should have so suddenly broil.: ht
the House into the discussion of at' subject which re-
quired to be handled ivith much caution. He was
never more surprised than on coining into the Hose
to find the Unnonrab!e Gentleman speaking on iloe
subject of the Curreor v of the Country, at a time when
the llousz was geuerally employed our private business ;
sorb a course of proceeding he looked upon as ex-
t: crack rregni r.

Mr. BARiNti conceived that his Honorable Frie:,J
(Mr. nice) had done a public good by bringing the
question before the Hew, and by habitnating t! e
House to the consideration of the subject. it wa. 1,43
a sultj.ct to he settled Oh what was called* grznldeba.r,
it teas a subject that required great consideratiotya it
the House should not shrink from the avowal of t. e
truth. Ile (Mr. Ila:ing) was not disposed to touch
the law which had been lately made upon the snbje..r,
at least so far as would is the slightest degree amount
to a breach of the public Nth ; yet it was his conor:.:-
tion, that the attempt that had been made to bring
the restoration of the Currency was at the bottom of
the public distress. England was the only plauti
this situation except America—s America, were pre-
cisely the same system of paper currency had been
operation, lie sincerely hoped that the distress Atli
embarrassment of the present day woulJ operate
solemn warning to the country, and to future times,
not to depart from the settled established statitlarti tpf
value. lie perfectly concurred with his Hon. Frieni
(Mr. tirettfell,) that the Bank ought to be relieve,'
from the restriction under which it was placed. tie
soiner they collected their one pound notes and iss6;:l
sovereigns in th..ir stead, the better.
Mr. UIiENFELL explained. lie did not mean to
throw the slightest blame on his lint,. Friend (Mr.
111ko) fir making the speech which fell from him that
evening.
Mr. 1). lIII.IIERT concurred in all that had been
said with respect to the evil effects of departing fri,:a
the established curreacy, and concurred with the
Honourable Gentleman (Mr. [taring,) in hoping that
they in Ay operate as a warning to posterity.
Mr. 'MING said a few words, after which the
Petitions were brought up and ordered to lie on too
Table.

Sir T. ACLIND presenteJ a Petition from Dena-
shire, cousplaiiiiw, a Agricultural inutress.
6 _
. .

OctlerNl to lie on the 71 able.

Mr. LANIIITON presented a sinii!ar Petition &nos
Dor!tain. The lion. Gentleman said, that with respect
to the Corn Laws, his opinions remained the same.
Ile was convinced that no protecting duties wonid giro
any relief to timers whilst taxation remained at its
present hright.—(Hear.)

PARLIAMENTARY REFORM.
Mr. BEAUMONT pre.ented a Petition from certain
individuals at Morpeth, prdying fur a Reform in tW
Eloise of Cotontoas.—Ordered to lie on die Table.

LIN/ERICK ELECTION.
The Petition against the Ele.•ti-rn of the County of
Limerick was ar.leret: to be taken tutu considenitios ,
on the I.sth of March.