The Statesman.
London, England, 1819-01-30 00:00:00

II

~z r~
i\y~~+'

titit,p 7v.

selves, with reference to the latter operation, wee
one relegated for all ordinary times No man cractig
deny that an eatreertlinary occasion eight 'raptorial,
bullion would became so high in the market, as to
make it worth while to melt or escort the silver coin.
Such an event was certainty possible. Bet there
was a consideration baring en the 'testiest, whisk
the flee. Goalies* bed kept out •f sight. By
another regelation, a further guard was placed against
the probability of loch a state of things, by making
silver coin a legal tender only to the ridge 441 u.;
and care had also been taken to prevent the inetitia.
lion el the country with silver in the event of hellion
becoming cheap, by tonguing the privilege of noising
silver can Is the Curren. Ile perfectly rincerted
lath the Hai. Geetteesen In tanking the la weepiest
tbeespettatioo or tatting denial ea only nwgviory,
het something worse. The law as it at waist stood
Vas as Incentive to the ed. Bet it sbeeld be recol-
lected, Chet It was else sot introdored by the pre-
seat Ministers, but one long eh Ile elan
Wattled the accuracy of the Hon. Genitalia's stair-
sent, that the present market price of standard silver
was • penny an 01111 Ct higher than the Mint peke.—
Unqoestionably if he were a silversmith, and wonted
a pound of silver, be eight be_ diaposed to melt aria
rather than purchase billion; and tarefetre,•tilie the
pries amanita' as St present, he allowed that to • mt.
tale genet some of the silver ale would be melted
end disappear. He hoped, however, that this
temporary drain of the coin wool! subside. If, how.
reef, It should not be so; if it appeared likely that
any greet sad permanent rise is the price of bellies
would take place, so as to deprive the silver coin of
its adetrezte protection, he knew bet of owe remedy
—a legisTitive one. Tit ettraordinary km Par.
Hareem most cassia,' the mean of averting the evil.
The existing seigalerage was a apScient guard for
the coin in all ordinary times. At pretest the price
of alter was certainly relatively higher them the price
of gold; bet that hid been.the case only within the
few last days, and be hoped it would soon fauna
to its usual proportion. With respect to that part of
lielloterable tentlemait's speech which related to
Hi Restriction on Cash Payments by the Bank, be
amid only state, Mot be had mideateend as malt an
to amid to comprehend that Important question, avid
Wins not ashamed to say, that he found gnat die
belly in doing so. The feet was, that it was a gees.
dee en which se two writers, no two inerchente,
nee no two Bank Directors were perfectly tined.
If It were his fate to belong to the Cetemittee which
*as nee to be appointed to consider it, be would ca.
lardy give the subject all the 'Militias he could, be.
*ging in his conscience, that this vital question could
liver be Itisfactorily elecideted, bot by a diligent
Mel habilitate Committee, who forgetting all patty
frontage, should enter on the investigatiou of it with
a sincere determination to ascertain, if possible, its
sill malts.
Mr. WI ISON (Member for the City) slated, that
he felt considerable embattaament on tieing to give
his opinion upon a questioe of such greet importance,
but trusted to the iinielgoece of the iloote for hie
want of being adequately acqoaleted with a subject,
which a Right Honourable Gentleman on the boor
(Mr. Wellesley Pole) admitted himself hardly egad
to. lie was aware that the Bank Restactien was sit
espepular subject. It might, me doubt, be matter
of ceasidentiOn for the Honourable House, whether
or no any restrictiee should be pet upon the awe.
lion of the issue of Bank paper; bet he was himself
decidedly of °pinkie, that should this be the cal..
end the Issue be toe much circumscribed, line incle of
the reentry would suffer in proportion. With re-
spect to the specie, it most be liable, from the state
of the exchanges, to continual flecnatioo. The pre.
teat high price of silver was, no doubt, attributable
to the great demand for India, America, and' other
foreign parts: and if specie were now generally its
circulation, its progressive diminution by exportation
most produce much inconvenience to the county.—
In answer to a question from an Honourable Member
on the other side (Mr. Orenfell), what was to be
doe., if all the eater *bald be melted down, be
maid, have recourse, as before, to tokens of a vitae
that could not offer temptation to melt or 'sport :
yet he doubted whether that woad not be objected
to by Honoorable Members en that side, and wails*
it would not he directly attacked as a freed upon the
Public. ~ssi giving them only lbs. in the pound, or
abonethieg like a dividend ou their jest denied!.
Lord A. HAMILTON said, he rose to attics an
observati** or two, which had fallen from the Right
Hon. Gentleman. He endersteed that Right Nee.
Gentleman to say, that the privation bud at the
Mint was tech as to secure the silver coin from being
melted down. Bet it was necenery to bear in mind
that that proportion was settled with reference to
gold, and sot with reference to paper. lie would
ask, whether it be possible to flit any proportion
which can secure the silver coin against the deprecia.
lion of piper t—lf he meant to say, that the pre.
portion was find with relation to gold, then he
would say this was of no effect ;—if it ems filed to
guard ageinat the depreciation of paper, then he
would say the Right Hon. Gentlemen had atteeiptert
to do that which was impossible, for it never could
be sebstantiated. If it referred to paper—he would
ask him, If paper were one depreciated to that es.
tent which they bad 'heady seen, if he thought it
would be possible to saute the silver coin ? The es.
'onion of the Right Hoe. Gentleman, then, either
had nothing to do with the aiesticre' er it could net
be made good. The Right lion. Gentleman had
enlarged on the inconsistencies of political 'can.
mists en ibis queetren ; bet he thought Rita. Hot'.
Gentleman might find still greater.ieconsisteecies i•
the Hen. and Right Hon. Gentlemen who voted with
each ether on the question. They. all reenll.esed the
Iteeoleilso of a Right lien. Gradation, ter it Irma

!)Ai
t„lielf.Ltilr....