The Statesman.
London, England, 1822-02-19 00:00:00

41 MSS • lb.-
the of Myer seat. was euessary. He believed that
oven that reduction would set afford so mac► relief u
a proper reductiou of taxation. lit certainly mast
say that the great lasdholders deserved the distress is;
width they were Flanged. They bud supported the
extravagance of the Atholoistratioa, and helped Se
nodose as expensive war for the last thirty years.'
As the value of mosey bad Increased thirty-titres per,
eget. by the late Act of the recompiles of rub pal-
mists, he thought it would be bat a matter of pied*
fir t►ose who received incomes and 'moistening ft*
the State, to enme volootarlly forwird and glee
op that amount to relieve the distresses of the country.,
He conjured those Gentlemen who were resorted with.
the lauded interests, to exert the power which they
possessed, to relieve it trim lli present dreadful etek
of depression.
Mr. STUART WORTLltritil. sat is the house
when
dreised

N n•b

Sadist Moo plaeas It was said that a radio-

the Hon. Nisbet jor
it, but he lads hien beard bin biamistif for Lev
.g expressed Me ndsfaction at the statement of the
Noble Marquess. Now if the Hon. Member :vas to
be blamed for this, be begged also to take his share of
the blame, for be was quite convinced that the pies
proposed was much better calculated to afford substan-
tial and permanent relief to the country, thee any
further repeal of taxes could be at the present moment.
The Honourable Member who bad jest spoken stated
that the landholders who supported the late war, do-
011eted the distress into which they bad fallen. He
begged also to may upon this part of the subject that
be, so far from taking blame to himself for having
supported that war, be al ways considered it u a matter of
pride.—(Cheers.) Aid he would tell that Hon. Mem-
ber, that be firmly believed that if that war bad not
been supported, be would have bad a much lies share
of his estate than he had at present, under all his dim-
. He had ever supported that war, as a war
which protected the liberties of the people, and he was
convinced that if the Gentlemen of England had not
Come forward to maintain it' Manfully, this country
world now have been a province of France. Hi was
very much surprised to hear the Hon. Member of
Camleeriand sad the Hon. Member for Cheshire stele,
that they were not satisfied with the statement of his
Noble Friend, which clearly chewed, that the country
was in that prosperous condition of haring above ire
million of income over her expenditure. The rit‘idet-
Goa of debt would operate to lessen the distress of the
landed in t , and be believed that it would be the

best and surest means of duiog so. When be said
that the statement of his Noble Friend was satisfac-
tory, he wished to make some explanations regarding
parts of it. When be heard that two millions' hid
been saved by retrenchment, it was impossible that
be should not express his satisfaction ; but he hoped
that would trot be a reason why further reduc-
dew shook/ not be made.—(Hear, hear, hear.)—
With regard to the four millions to be borrowed from
the Bask the part of it which wit to be tent to the pa.
Mat wesithiettaialy give Bich 'ttpritlsfaltfotr.- What
the effect of increasing the amoadt of the etrdalatioe
would he epos the Fends Le did not know; • But be
was quite sure that no good could arise from th 6 pro-
posed loans to parishes. As to the motion bkore the
house, he was surprised that the Hon. Member for
Comberland should object to it. What object had they
in going into a Committee, but that of seeking the
means of preventing too great an influx of core after
the opening of the ports? If the Committee produced
a measure which would have that effect, it would per-
form inrportant service to the agricultural interest.
Feeling, as be did, that it would be to ruin lb. credit
of the country if any farther taxation were taltel'uff,
he should not be acting under that sense of dpty
which always guided him, Übe did not express his
determination to oppose it.—(Hear, hear.)
Mr. RICARDO conceived that the Hoo. °whiten
who spoke last laboured under a great mistake, when he
spoke of a Sinking Fund as the means of relieving the
agricultural interest, for he was convinced that the ap7
plication of such a fund would not lower the rate of in.
terest. It might have the effect of raising the funds;
but could not lower the rate of interest, which mast kb
mays be regulated by Orofits; and profits aroldoever
increase while taxation was upheld to a great amount.
He was ready to admit that a Sinking Fund would be of
great advi.ntage to the country, if it were applied to the
object for which it was ietended—(hear, bear I)—but
after the experience the country had already-clad of
sinking funds—the fund of Sir Robert Walpole and Mr.
Pitt--.and after it wee known that the present Chan-
cellor of the Exchequer had made away with the
whole of the Sinking Fand created by Mr. Pitt—
(hear, hear,)--after these things were so well known,
he would ask whether the nation was ever again to ex-
pect any good from such a measure? He was confi-
dent, 114kie fund went on, that, after the lapse of a
few years, we should have the same account of it that
was given of the former sinking funds. The Hon.
Member for Wiltshire had eulogised the speech of his
Learned Friend (Mr. Brougham), and afterwards to
astonishment, disapproved of most of the sentiments
contained in it. The taxes on Agriculture bad long
subsisted, and must be lowered when produce should
fall. As to the maintenance of public credit, bethought
the claim of the fundholder was a claim, not on land-
holders in particular, but en the whole property of the
country; tad he wished it might be shown in what
respect the faodholder received more than his just
share. (Here Mr. Brougham interposed, by observing,
that what he bad said was, that it was only in case
the distress became intolerable. [He (Mr. Ricardo)
could see no chance for relief to the agricultural in-
terests while the present Corn Laws remained'; and
therefore it would be necessary to alter them. He
disapproved of the plan of advancing four millions for
the relief of the agricultural interest. The Bank had
now got a quantity of gold sufficient to carry on their
business; they were now doicg the worst measure they
could adopt, by going to issue four millions of money;
and by imereasingtheireletulation they would send a great
quantity of their gold out of the country; and he reconl-
mended wheat to consider whether the quantity of gold
they now bad was more than sittficient for their operations.
.The Bask began to pay in gold too s : they ought
whim paid only in hellion till 1823. They ought
so lave sad ea vont ed so keep the exchanges at par. and
pe.reat gold trout coining to :uis country. If b:s•f: tie..