The Statesman.
London, England, 1815-03-10 00:00:00

Mr. HORNEIt hegued to insert thesewords,—
" And whereas it is highly desirable, that the Bank
Enghtnd should return as speedily as possible to
the payment of its notes in specie, hut it is expedient
that, preparatory thereto, time should be allowed
for that purpose " His object was, that the Bank
should understand itself to be limited to time by that
Parliamentary declaration. He would not then go
more into the subject, as he was taken by surprise at
that early hour.
Mr. 1t0,41. objected to the amendment, as it would
tend to gni:load the country : it implied, that the
Bank, if urged, might take preparatory steps for
resuming its payments in cash. That, however,
could not be effected till the price of gold were re-
duced to the Mint price. When that period arrived,
the Bank would adopt measures for returning to pay-
ments in specie ; but while the price of gold was
above the Mint price, there were persons who would
uluay s contrive to melt the coin. To the words in
the early !Art of the amendment, he had no objec-
tion ; since he had always expressed his individual
anxiety to return to pay meats in cash, and he was
persuaded that it would be the anxious wish of the
Bank to pay their notes as Soon as possible.
Lord A% RCM BALD HAM I ',TON was astonished
to hear that the Honourable Gentleman was anxious
to return to pay meats in specie, sad yet refused to
adopt such measures as were most likely to promote
that desirable object.

Mr. HORNER had no objection to withdraw
the latter part of his amendment. The Right Hon.
Centlemon, however, had said, that he had always
espreswd his anxiety for the Bank's returning to pay.
silents in cash : but the lest time the subject was dis-
cussed in that House, when the Bank Directors were
goaded to support the Chancellor of the Exchequer,
ti ,' Right Hon. Gtutletnan had not manifested a si-
milar anxiety.
Mr. ROSE said, that his expectations of payments
in Specie being resumed arose from this: the price of
gold in January last was 51. 10s. an ounce, but, on
ficcount of peace, it fell in August last to 41. 4s.—
The large importation of corn which followed, raised
it to its present price; but when the importation
ceased, and foreign ports were shut, gold would fall
again, and the Bank would then return to payments
in specie. •

Lord A. HAMILTON explained.
Mr. P. GRANT said, all that he desired was, that
the Bank should commence measures with a view to
what every person considered necessary ; and he
hoped and trusted that if the Right Honourable Gen-
tleman and his friends should find it impossible next
year for the Bank to return to payments in cash,
they would themselves move the House to enquire
into the subject.
Mr. GRENFFILL was persuaded, that if the
Douse did not urge the Bank, payments in specie
would never be resumed. Notwithstanding the high
characters of the Bank of England, he begged leave
to ask, whether it were not porible that they might
err as to sound policy, and whether the House should
resign its own judgment to the Batik?
Mr. THOM NON said, he had sufficient confi-
&nee in the Directors to leave it entirely to them to
fix the time for resuming cash payments as soon as
possible after any given period that should first be
fixed by the House: but if it should be known that
I've Bank were actually purchasing bullion or gold
for that purpose, it would unquestionably cause a
rise in the/price, and defeat the very purpose Gets-
llemen had in view.

Mr. BARING differed with every thing which had
fallen from the lion. Member who spoke last on the
subject of paper circulation being as desirable as
gold. An excess of paper must cause a depreciation
Of it and though the country might have benefited
by it in its foreign relations, it was his hope, though
not his expectation, that the Bank would be obliged
to resume cash payments as speedily as possible. He
adverted to the state of the silver currency, which
he thought respired the attention of the House.--
France was at present gaining 80 per cent. in the ar-
ticle of silver, which coinage was more debased thap
the Bank tokens. He thought Government should
issue a silver coinage 10 or 11 per cent. under the
legal standard, for it was impossible the Bank could
furnish a silver coinage sufficient for the wants of the
country. Such a coinage could not affect contracts,
as silver was not a legal trader.
The CHANCELLOR of the EXCHEQUER
said he rose merely to correct some misrepresenta-
tions which had gone abroad as to what he had said
on this subject on a former night, and that was.—
" He expressed his hopes that the Bank would
be able to resume their cash payments on the Gth of
July, 1816, but had not said he was confident they
would do so."

Mr. HORNER'. amendment was then agreed to.
-- ----- -

Mr. GRENFELL moved an amendment, that it.
ter the words 1816, at the end of the Bill, these
words be added.

Mr. ROSE objected to the addition al useless.

Mr. GRENFELL shortly replied; after which a
division took place—
For the amendment
Against it
Mrkiority

17
75
-58

On our returu to the Gallery, we found on his
legc—
The CHANCELLOR of the EXCHEQUER,
who said it had been his intention to have' brought
forward the two first Resolutions to-night, and to
have postponed the taxes to a future day ; but he be-
lieved that by Monday, he should be ahle to go
through the whole of the Budget; and as there was
HO particular business fixed for that day, he would,
ith the leave of the House, then bring forward the
%hole together.
__

Mr. TIERNEY said, when the Right Hon. Gen-
tleman was lately asked to put oil the taxes, he had
refused, because be said they would not admit of
delay : now, however, for some reason best known
to himself, be wished to put them off. For his own
part, be (Mr. Tierney) was ready to argue the two
first Resolutions, and even the whole Budget, either
to-night or on Monday, if that should be wore agree-
able to the House.

Mr. PONSONBY bad no objection to its being
postponed till Monday, with an understanding that
as much should he gone through %ith, as could be
dune on that day ; but not with any understanding
of finishing it on Monday.
._. • ...._.

The CIIANCELLOg of the EXCIIEQUER
acquiesced in that soggetoion.