The Statesman.
London, England, 1810-09-21 00:00:00

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e ultiiiielettopiulosrrttchtu.eluiatrciais
eceldocst:
against the Ci;:riennmidymeioutfiseintstntweeicaoeliein'tgu,stilaniti4nly:t
phraishetrafteuu:
the consequences lamentable, sy.npatitibing a but,
apwahmui cya ttn
falling,ww e
oc a itihnfrooetrwhtehlle:
them,
of so much of the
the enemy'sieet.
behalfsctaruolndgehravaergbueloczsliondl
Bullion Committee's Report as injures the Belk,
in Mr. RANDAL JAciLlioN's opinion, thAn the whoid
of Mr. R. JACKsoN's reasoning in behalf of
Na
Company. This Barrister (for our Readers are to
be told that Mr. R. JACKSON is a Councellur)i,T„:
angry with the Committee fur publibhingfalla,ies;
and " among those fallacies (he says) the tint o;at
strikes me is the assumption, as a fact, that CauL,
notes are below par, because 1051. in notes would
not buy gold enough to make 100 guinea,',_
If this be a fallacy, it is at least not among the
number of the selpevident ! It appears pretty
nearly self-evident that Banknotes arc Wow par,
are depreciated, when 1051. of notes will not buy
100 guineas. But Mr. JACKsoN can make thefallecy
of the Committee's proposition very clear by
very indistinct argument, which, however, all
comes to this—that he can buy as much corn, re
goods of any description, with 1051 in nobs, as he
Can fur 100 golden guineas. Where is he to do
this ? Let him go to the Farmers, or the markets,
and try this ? Let him go with 1051. in notes, and
let me go with 100 guineas, and we shall soon set
who will carry home most corn, that day, from the
famagaateeitknas it ;
et! However, the Oummittee having express.
ed an idea that 1031. (Notes) won't stand up
the 100 guineas, Mr. JACKSON is surprised
and grieved at this fallacy. Ile had bitter have re,
and we moist say, that the Committee har,
shown much more knowledge of the operations of
Commerce (althu' he accuses them of being ignorant
of their nature) than this Barrister, who under.
takes to explain these operations before a Coen.
pang of Merchants.—But Mr. JACKSON must take
a glows at Mr. Conamr. Here, however, he
seems conscious of his want of strentith, fur he
retires without even one menacing attitude. But
Mr. JacKsore goes on, and if our Reader's please,
we will just let him rim himself out of breath at
once. He says, after turning suddenly sway from
COMETT ;

44 The next fallacy with which I hie to charge the Regret
is, the allegation that this institution has issued an excel; of
paper, to which exceisthe Committee attribute the advance *I
he, taken pike in the necessaries of life and other cominudide
Is it pbssible, I would ask, that the Committee can 'enmity
meats to Impress upon the lower orders of the people, that *
adverted price which they pay for proeisions is °whit to at
coed*: of this institution? But what do the Committee am*
In Often of issue? I am prenatal tosbe w, that the !suedes
paper was comparatively more, considering all cisme/mike,
previous to the Act of Restriction, than► it hus been Crire that re
sled. It is, in thet,clearly deducible (ram the evidence,mmtst
from notorious circumstances, and fmin admissions, e,ts i
some parts of the Report, that year issue has been ratter*.
simonious than excessive. In the year 4197, when the me*
tints took place, your issue was at about 11 millions, but it*
reduced t.• that amount in coosequeoce of ttte alarm which Oa
prevailed. Previous to that alarm, your issue wit meaty
about 14 millions. That issue inctudiug the 11. and D. now,
without wMeh society must item stood still, has for vat
years averaged about twenty inilliobs.—"rh.us the iodide
el your issue hits not exceeded six millions, and bow ea,
that,with any colour of rainless, be pronounced an cremes*
sideriog the progressive increase of our commerce, sad alit I
increase of country it ask paper ?—lt is known Mk (helm*
of out commerce, fruits the year 1803 to low, anion less the
15 Millie*, and 1 believe 1 do not overtratt. when 1 state tie
'acreage of eartomoserce, since the year 1797. at .53
I aril not in pilimention of any memoranda at present to poly
this estimate, bet the increase of our commerce is undeoiatil;
land it 'steamily undeniable, that the increased issueof your p-17
perhoss been trilling, compared to that increase of commerce.'

Mr. Jaexsow is at a loss to know what At'
Committee mean by an excess of issue ; and thes
follows the greatest rhapsody we ever saw, coming
from a man who should reason, to prove tilt
the issues of the Bank Paper have been kit
~since than before the restriction, considering ill
rcircumstances. What arc those circumstances?-'
That is the very point. The real trade was greater
before the Bank Restriction than since; and there.
fore, as the issues should be regulated by the rot
' trade (according to Mr. Ltexsom's own assertiaa
further on, to which we refer) the issues should hive
then been greater. The Learned Orator, indeed,
very sweepingly declares, that our Commerce bas
increased since 1797 by so many millions, that we
arc afraid, or ashamed, to repeat them after the
Learned Speaker. What will our Readers think Of
that Gentleman's courage, if we ar.icipate his
reading of Mr. JACKSON'S speech, and slate the
Learned Counsel's idea of the increase of our
Commerce since 97 ? What will he say to the in'
Crease, within the calamitous period he has chosen)
of no less than fifty millions y We have been 50
used to millions, merchants, ministers, lawyers, and
every body, that we can conjure them up at any
time, any where, and for any purpose! All OA
may do on paper, or in a speech in the House of
Commons, or in the Banking Company':; Meetiog,
but the Public will not be mucked with this 50
millions of increased Commerce since 97, Se elcuis
the Bank's excessive issues of paper within an
same period. But Me. boxsont has another argue
meat to show that the issue of Bank of England
paper has not lea excessive; and now, if °"s
Reader divines thitt, we shall be surprised more On
Mr. JACKSON was with the Bullion Committee. The
issues of _Country Bank Paper have been (he states
himself) excessive within the period he talks or•
lie goes on to enumerate the number of Banks
that hate sprung up, and state the excess of
their issues. From two hundred the Banks
have increased to 800; and their issues amount t°
no less than Thirty Millions. Very shat