The Statesman.
London, England, 1822-06-12 00:00:00

amber of foreign clock, gad watches inti
malty. their trade hod fellege/4 those
it reduced to great distress, sad seamy be
of pauperism. The retitiollefil now co
provides* esiataioed in a hill lately ion
authorised the warehousing if foreign
and watch glum. as they were appreh.
articles so warehboaed would either filNi
the hems, or being altered in ap.farti
to foreign markets as ardeles of British
They therefore prayed that that part of tl
they alluded might sot pass into a law.
After a few wends Irons Mr. Thrampoo
was brought up and reed.
Mr. Alderman WOOD said. for tie las
bad been in the habit of receiving repeat
Distressed state of the aumerose elan
sleeted with the watch sad clock trade.
bialy bet all their foreign trade, sad it
that Brill agaiast which they sow peal
take.fedes them the keno market. to die
they were Now rosette& Ho thought
were fairly padded to ban their case ti
&ration.

Mr. WALLACE said, this was not the
upon the saltiest of the pstitios. Whoa
a contains* the proper opportunity was
taking it taut sorwotratios.
The pandas was ordered to lia es thus I
sir F. BURDETT presented a pantos
agricalturiata in the parish of Bradiag, I
Wight, complaining of dimness which II
the alteration of Oa carroacy.2-Ordered
Mr. BIRCH preastai wpotition firm
and other Ishabitanteorthe town of Not
piaining of the ildStiell sustained by t
Mock Aaadons sal travelling Pedlars—
printed.

CVIRINCY OP TOR cousTar.
Mr. WESTERN, pursuant to the notice a
had given, nee to perform • duty which he
as *nerd great importance. He thought it rig
thesis his opinion, the pretest calansitoul sit
the comatry ought to beueribod to that gamut
which his motion would be directed, and with
big, under a* possible circumstances, would he
that duty which he now took upon himself to ft
felt that it would be necessary for him to drat
on the attention of the house, and as be had ne
l won nor wit to requite that attention, he MI
himself on their indulgence, while be procee.ll
before them the result of a very laborious lois
minced and prosecuted with • sincere desire I
the real troth. At the outset then, be took s
self to arraign the wisdom, justice and policy
measure, which bad bees adopted by the lie
years ago—the measure under which the coo
returned to the old standard of our currency.
the authors of that measure there were men
opinions be looked up with great deference.
not mean to treat it as one which had been e:
framed-b
his Majesty's Insisters. He knew t
with the concentric* of the most dist
pureed
Members of that House; and therefore, in brit
• this e:411141 ye did not nesajAhaahrali
sti "It: sad still lose did he mese to censor
their opponents who bad given it the sanctio
approbation. He considered their authority 1
great weights but still, as he could not regal
of men as infallible, he must boll that it mss
for them at times to be egregiously in error. I
to which be Dow wished to direct the elliptic
House, he was of opinion that at no period ha
of Statesmen in this or in any other country col
more fatal error than had been coMmitted by the
the Act for returning to the ancient standard ofo
ey. Whets be spoke thus be did not mean to col
self merely to the Act of 1819, but be spol
together with the concurrent measures of the
mediately preceding. He had at the outset I
the wisdom, policy, and justice of the tomtir
felt justified in going further, and saying, tit
all the present lamentable distress, and all th
ties with which the country had to contend n
ascribed. He did not deny that there wer
stances which, without this, wool! press beavi
eonntry. The taxation under which it law
laws respecting British agriculture, and the pc
were sufficient to cause a considerable pressuri
the currency, but with these the (wintry ha
and prospered, and with these it had still coo
thrive and prosper but for the adoption of th
ons and fatal measure, to which he now caller
tention. He would undertake to prove that thi
d severely on all classes with the except
Fundholder and the annuitant. and if he fillet
out this he would give up the subject altogei
could also shew that the severe distress at p
perieneed in Ireland was to be ascribed to this
He begged to call the attention of the house t
ral anti political effects of lowering or raising
of money. He accordingly 'hewed the effe
each operation mast produce on the situation
son possessing WOOL per annum, whom he sill
owe 5001. out of the 10001. and 'hewed that
tion of the two citing s would go to strip h
whole property.--(Hear, hear.) This, it
shewn, was the cite, or nearly the case, in I
of instances where mortgages had been a
obligations contracted under the altered cu
Though it was obviously desirable to avoid
the value of money below the regular state
this would not, morally speaking, produce the
tent of injury, nor did it physically produce
degree of evil, as raising it would not fail to cic
latter case it affected all classes down to the m
bearer. The difference between raising and
the value of money ought never to have leit c
contemplation of those who decided on givit
standards by which the concerns of the colt
been regulated for a quarter of a century. Tit,
had enormously inc el all the burdens of I
try. Though he did not wish to call the at,
the house to an essay on the theory of money,
necessary to suhruit to them some general pt.(
to which he thought no one would object on
functions, and nature of money. By all mode
rities it was agreed that money wits only int;
a medium of exchange and a measure of value.
Adam Smith' it was sail to he valuable, as a
instrument of commerce, but it formed no pa
revenue of a State. One essential quality in to
this, that it should be as invariable as possible.
account the precious metals had been preferret
common consent of mankind, but these were n
from variations. The state of the mines bei
or less protium tive, or the discovery of ne
might cause their value to vary. Other calm
affect their value, such as an increase, or
off in the demand, or the adoption of substi
then. As soon es a cre Hied currency had b
blithest, as was the cape here, and in other pa
world, as part of the aggregate currency, the I