The Statesman.
London, England, 1815-06-01 00:00:00

WIRT

97777

•
IMPERIAL PARLIAMENT,
HOUSE OF LORDS, MAT 31.
.111 i Bib Market Bill and Irish Servants' Duty Bill were
read a wood time.
The BigllWayi Bill was reported, and the amendments
sifted ta-
ilor Registrar of the Dover liartiour Accounts presented
papers on the subject of their accounts, which were laid on the
table.
The Earl of LAUDERDALE gave notice, that he would, on
Thursday seanight move the second rending of the Pillory
Punishment Abolition Bill, with an intention, however, to post.
pose is farther, in case the Lord Chancellor could nut then at-
tend.— Attionesei,

HOUSE OF COMMONS.
The blest Maa Ught.bouse Bill was read a third time, and
bossed.
The Windsor forest Bill went through a Committee.—Tbe
'lepers iO-11101TOW.
WROTE HERRING FISHERY.
the Moose went into a Committee on the White Herring
Vishay 1101.
A continuum of considerable length, on the different clauses
is they occurred, took place between Mr. ROSE and Mr.
FINLAY; after whirb the 14011 be resumed, dad the report
/nut eclipsed to he received toanorrow.
Mr. JOHN SMITH pr.esented a Petition from the town and
vicinity oCtiottinglum, hagned by several thousand inhabitants,
aguinst the renewal of War with France:—Ordered to lie ou
Oe table.
Mr. X ESTI .it N gave sutler, that on Tuesda_y nest, he Amid
Wive for leave to bring Ina Rill to except all Wool the produce
of Great Britain, from payment of the Auction Duty.

MR EDWARD PAKENHABI. I
Lord CASTLEREAGH new to request en lion. General '
((:ascoigne) to postpone his motion for the erection of a Moon-
meat tershessemeev refuse tate ale Edw:ord Pakenham. It had
hem massamaicawd to timerunwitt, Wet there did exist preen '
Ormarkeistr up linable to this c:lae, and provided that point •
mettr . there could fe41110.1 but one sentiment with
aspen melte merits sad character of that gallant officer.—
Merv, keen Qmit had already hem a stilkient conillcation !
.lioverawern to bopeav la any way opposed to the suggestion
flif thathernanditetribste t but their ally motive had been an
alltliPollibiliblil they Ili& be *WON toe wide a door, and •
Is airsvias Is one instance ts what their general duty might
.letialer thefts umble to secede in othen.
• Gesseral GArsCOtritlX declared, his oak/ toliaet had been to
.4p lellire to MR dieliellehebed We* of as gallant an °Seer as
Weyer failed is the service of his moony. He had en ohjec. i
doll to deka but mmion, and deviated net that ho could satisfy 1
the Noble Lewd is privateceivetsaties, that his mods. was
:'•strictly jilatilled be nreeedept.
Me. HA'THURST moved for leave to bring in a Bill to en.
able the Downentrkk Mediae Committee to remeeihie, after
tellaillelet el' he in ifeblei OWN have bees carried into erect.
Mr. tioftxbit peamettelts Petidon from s person named
filcher, enon_plaislng ersymniptite ender the Excise Laws.
Mr. TIPANEY Welt asilboar the arbitrary powers, selellet-
Olt le "Ole elute taA power of dispeasing with Acts of Partiti-
on(' 'estnelited te'the Cissanhsionen, and wished to know
4tll=t;figtebnall Wasted say
eneral otsfeettoost to the appointment of a
ets_upustae the gi*lni
Thlr- 9HANGELLOR XCH ER of the EEQU said a few
winds. hot to to low a Um Orvoiee as to be inaudible in the
Wier,.
Mr. ?Bud, reved far leave Mitring in a Bill, for the pur-
.oll,Pele of eeleedlec to Ireland the provisions of several Acts
ef radiomen( lit Utrecht Great Wham. empowering the Courts
.of Law to direct payment rd the coats nod charges incurred in
the prosecution of Mom—The Bill was then brought in, rend a
that thee,sild ordered to be read a second time on Monday next.
RANK OF ENGLAND.
•
Sfir.C!RENTE U. rose to bring under the consider-
Ate* of the House the situation of the Bank of
liogi• • as far as it related to the payment of
stem'. tiro.- The only ground which he believed
V:
(lota At adduced as a pretence for justifying the ex-
!eat of exemption which tne Bank at present en-
joyed, was their practice of cancelling and destroy-
ing such notes cud bills as were returned upon them
for eicbattge or payment. This justification might
perhaps bit received u sofficient, 'were It not for tha
welfaiiiiiin tact, thit their profits were in so large
a measure derived from the loss and expence of the
public. In the year 1791, an arrangement was
smile bete ren the Bank and the Government of that
dee. by which the former agreed (o pay a sum of
12,0001. a-year as a compensation for their eNemp-
lion from stamp duties. This sum was at the rate of
about Id. in the pound, and the Bank, it we.. to be
recollect:d. at tt at time paid in specie. This ar-
rangement continued without any alterat. till the
year 1799, anti attnough a great increase had taken
[Amnia the stamp duties within that period, no pro-
portional italrease took place in the composition
payable by the Bank. Soon after, a duty of 2d.
was imposed upon it. notes. and he should read a
clause from the 99th of the King, chap. 107, in or- I
der to show that the new increase of the compensa.
tiro, doe from the Bank in consideration of their ex-
emption, during the fir* eight years to which he had
referred, was fully Worded and remised by the
Legislature. per* the Hon. Alensber read the
clause in question.)—Things remained in this situ s.
tioa as late as 1804, when 50 per cent. had been
added to the stamp duties, and id. per pound to the
duty payable on the issue of one pound notes. This,
was the amount of additional burthen then cast upon
the Bank, who hail, in the mean time, enlarged
their circulation to the extent of Nor millions and a
half. In the year 1808 it appeared that an addition
of 37 per cent.-had been enacted to the stamprlnties,
and a proportiorns increase was made its the stipula-
tions with the Bank, but without any reference
whatever to the great augmentation in the issue of
• circulating paper. Such was the system acted on, 1
without any interruption, of extending every kindo
favour and indulgence to that opulent Corporation
at the eapence of the great body of the public. Is
the year 1791, their circulating paper amounted to;
11,000,0001. • in 1804, to 17,000,0001.; in 1808,
to 3 I ,000,0041. ; and was not less at the present ma
meat than 27,000,0001. During ail this period, and
the continuance of this system under which the sus.
pension of the obligation to pay he specie had enabled
them thus to extend their profits by the indefinite
extensions! their issues, no advance was made es
the original compobition agreed "Ton in the year
1791. What he should propose to suggest was, that
an animal revision should be sa•d• by Parliament of
the dirties and considerations paid by the Bank on
their issues, as compared to the stamp duties paid by
the public fie should move, therefore, In the first
instance, for an account of hit motes in circelatiou
corresponding in value or denomination to tut seals
set forth in the schedules of damp duties. He was
satisfied that the waiting system bad produced to dos
Bank an unfair and improper gain of hundred, of
thousands. He observed the lion. Governor of the
Ikeit smile at this observation : bat Ise was himself
convinced of its truth ; it was the result of a calcu-
lation he had made, which most fell rather under
Wan above the mark, and of this he was ready to give
the House demonstration.--Eilear, hear!]—There
were in Circislition about nine millions of notes of
I end 21. ; of the existing amount and proportion of
others he hid no information, bat he understood the
duty paid on meta front 5 to 201. value to be less
ll.:nt that derived from the smaller notes. Calculating
1::•.n, however, at the same amount, it would ap-