The Statesman.
London, England, 1819-05-26 00:00:00

1111 t, STATVSV 4

notions, it, prevent them from affordiog that essen-
tial assistance, which resold have been found no
where else with so much facility. In recommending
the present RI , they had preceeded nn the re-
cognized principle of several Acta of Parliement.that
they ought as soon as possible to return to Cash Pay-
ment,. With respect to the mode and the time of
doing so, he should have wished that that change
could be produced gradually. The Committee, in
looking at that part of the qemion, found that it
would require four or Gee years before the Bank could
return to an ordinary metallic currency ; and the Com-
mittee came to the reseletion of recommending, tire
Noose to adopt a Resolution requiting the Beak to
pay in bullion at first,and gradually resume payments
in currency. This, therefore, added to the protect-
hag price of the Bank bullion of 41. Is. would do
away with any dread that there would be any run
upon the Bank. There woe also a dread that tee
millions was immediately to be repaid to the Bank,
and that a sem equal to that amount would be with-
drawn from circulation. There never was • more
unfounded supposition ; for Gnverement only look
forward to the neat two years as the periods of re-
nepotist to the Batik. The only object of this PM •
sure was, to return as anon as possible to Cash Nay
menu, by placing the Bank in possession of all its
former resources. He was sere the Ileum would feel
'bat they ought not to regulate their measures ac-
cording to sperulative difficulties. This measure
would net come into operailon till the Ist of Fe-
bleary melt, and then Parliament would be sitting
to afford Natant relief, if any part of this system
were found to be wrong. It therefore appeared to
him that there could be no rational ground for any
dread, that mischief could arise out of this measure.
It was no small proof of the ezeellence of this mea-
sure, that it had the rrence of the Committees
of both Houses of Parliament, with the 'reception of
two dissent/eat opinions in the Commons' Commit •
tee, and one in that of the Lords' Committee. lie,
therefore, could not conceive how the meows could
he dreaded by the country : but be was sere that
alarm would soon subside, and the &sentry imper•
ceptibly return to Cash Payments. For these teas
sons he supported the Resolutions.

Mr. ELLICE hoped that the House would indulge
him with • bearing for a few minutes, whilst he en-
deavoured, in justice to his own character, to set him.
self right with regard to an allusion which had been
made to him b) the Right Honourable the Chancellor
of the Eschew,. it was tree that he had been one
of a deputation of foor who had waited epos the
First Lord of the Treasury to deprecate an early re-
turn to Cash Payments. His own oliection, however,
was simply to any large repayment to the Hank dor.
ing a state of else., cuereiving that the worst way
of coring one PIIfPNI• was to rush into the other.—
As to the subject immediately before the House, be
certainly still deprecated any speedy repayment, and
this o .s his reason for proposing the first Resolution
of his amendnarst. The object of his second was to
avoid proclaiming to Europe by a Parliamentary
enactment, that our paper currency wss depreciated
florin; a time of peeve, and that that depreciation
might continue for a definite period. lie had no de-
sire to prevent the Book from employing their copi-
otl us they plowing, whether they thoeght proper to
invest it in Exchequer Rolls, or otherwise. Coital-
dering. too, that the sense of Parliament seemed to
be warty unanimous oo this subject, be shoeld be
Parrs to dirarb it by pressing his amendment.—
(/leos, hear!)—As the Noble Lord, however, bed
intimated that the measure might be recess-
sidered in the event of a bad harvest or
army unforeseen calamity, he most cypress his
hope, that, if adopted, it would be with a firm re-
reeolerion to go throve with it. and that the coon-
try woo'd'not t e subjected to each en experiment in
esin.—Uker, hearli—He should maw cheerfully
acquiesce in its adoption, although he could wish to
life some alteration mad* in its details, and was sorry
that the Noble Lord had by the espressioe of any
doubt weakened the menace of its being carried
into ultimate execution.

Lord CA4ELERIIAGII esplained, and disclaim-
ed it,. impototilw of booing repressed as, doubt el
to Hie Wpm esteem a the plan.
Mr. ELLICE tbee, with the leave of the Boom,
withdre• Ins Res..totknos.
Lord MILTON attempted to address the Hesse,
bet the conforion was so great, end the calls of
Question so loud cod reiterated, tbat in a lets no.
mints b► .st do• et.

Mr. MARKYAT, anti 1 other Members, st-
irred themseises to the Committee; bet the clamour
was In great, that it wes impossible to bea► what
was said. In the midst of this eottfusion,

•
Mr. W. SMITH meted the edjoetoseet et the
Ilnew.

Mr. CANNING then presented ►imself. Ile did
not rise to obt►ude en the Committee his sentiments
in this subject, es they were @Needy ►.own : be
wee net anxious to mete the resents which intioced
hies to veto for this messem, or to seretioite the rea.
'OM which actuated others; bet be rose to conjure
the Committee, If they valved the effect which their
decision on this *object would ►eve en the country,
to give a patient bearing to every Gentleman who
wished to state his opinions on the plan proposed.
more especially to those who dissented horn the Bean*
Wiens. One effect of their unanimity this night
wield be lost, if any grounds were given for sop.
peeing that it had been' obtained either by 31embers
suppressing thei► own opinions, nr what was worse.
by clamouring down the opinion+ of others.—( Loud
chters.)
Mr. IRVING espressed his eppeeitke to the 4th
and sth Reselotiena.

Mr. T. WILSON wished an indefinite period to
be slimmed to the Directors of the *ink; hitheogbt
that they hid yet hitherto had • fair trier, on ac.
coast of the foreign loans, and the non.f•lblesent of
the engegemente on the part of Government. De
paid greet deference to the opinions of the Gentle.
men of the Committee, who were so meets better
able to judge of the question than he we, ; het at the
same time he wee not ashamed •n avow, that be slid
not acre with tho Right lion. Gentleman In his Re.
solutions. lie thought the object of the resumption
more likely to be ht noght shoot by the newel ope-
ration of the eschenees, than by a forced purchase
of bullion by the Bank.
Mr. PEEL rose to reply.—ile ins not detirnes to
troukle the finsEe ••ny unttecesslty speeches,