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

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from it ; and le therefore trusted that. the ethers:
.ttpposite would 'unite, and taflogiasidi '-'
e. would compel blighter' to Weil
ecAttitaiy.
Mr. PEEL said, after all that bad isink'iteffilis,
el e hewn would indulge him with the Iriortacity of.
raids; Nate few °buffaloes on the q atlas betel,
the house, at well as on the mildest of the llf thathotl
"tee,. called alter him, owing to the"ilianietatme -of
his having been the Chairman of the Corimitte• fret";
which the Bill proceeded. After all the expett
.
wbieb the measure had undergone, and after the man-
ner le which it had been attacked at public meedegs
in particular, he woeld not shelter himsetf undet the
autbority of the great majorities with which the
Bill bed bete passed. He was, se the contrary.
prepared now, to express his &Satan toevic-
tie., after what he would not call all the clamour,
and what he could not call argument. that there was
no ether alternative left to Parliament thou to pass
that 11111.—(11ear. bear, hear!)---He was further
prepared to maintain that the real interests of the
eteuett:y were consulted by that Bill; that, is fact, it
bad not materially affected the agricultural interest—
carteinly sot more than those literate would have
beeu affected by other means, had not the Bill become
law. They were not to consult the agricultural in-
terests shine; though tiod forbid that he should un-
detvalue those laterals. They were too apt to close
• their eves against the evils from which they had
estapeti, otherwise the house would not fail
to recollect those of 1818 and 181 f. Tiers
were then beheld the consequences of a ore-
eiated currency. not only on their maatimillerolls
but on the hateful tranquillity of the country. The
distreeses of that period were mainly attrihrtitWe to
the lavbefe of wages, and to the inadequate etkasset
obtaining subsittence. The country bore the male
of prOsperity externally, hot those appearances were
nut screed. Such was the state of the poor, owing to
the inadequacy of wages, that in 1818 there were
twenty-three counties paying greatly advanced poor's
rein. From those dilllculties the tmeetry had alai-
ilerably recovered. stie saw the poor's rase eheeked.
peteeieed that a great object bad hen gained ;
-awl that object he thought-had been greatly promoted
by the Bill, as, owing se its operatioa, the peer bad
been ninth better paid. That the rates bad been eon-
-elderably checked was evident, from the fact, that is
Nottiogbarnaltire they were reduced 18 per cat, and
in Sussex, where there was the least reductive, al per
feet Is Northumberland, when the Agricultural
. .

Diverse was lot so particularly complained of, there
mss no reduction of the rates. All these einem-
suffices led him to disbelieve that the Damen had
bee. produced by the Resumption of Cash Payments.
The pita of corn were low now. 1w 1779 Mime
was 34a. per quarter; in 1783 it wu 525.; in 1001
it Wu ,1161.; in 1402 it was reduced to 67.. ; sad
in 11105 it was at 665. per quarter.—Tien they sow
Area flesteatinse is the picas of corn, but then they
ass id sot attribate them to soy meaaeree fee changing
she carreacy. The appeasension abont.kopeetetioas
of foreign airs wove gressiikss ; the importationtoms
Inlaid, bonier, were considerable avid hod resontly
MIKA iseinami. War the seven years, ending 1/07.
Mere wore 1,10,000 gamuts imported from looked;
fir the saves pars esidiog 1421, there were 7.530.000
quarters imported. This increase, together with three
peed harvests, hod produced effects. against which
Obey amid sot ghat their eyes; such events, and out
the importation et Amiga sore, still less lb* passing
of the Milk bad Noised the difficulties which sow
the icsiereets of agriculture. He firmly b.
plan aseasere which the House amid adopt
would affair relief to those distresses; on the other
baud, be believed that eventually they should see
46bese distresses give way, as bad the other 411fieshies
„.• 414 e country, He believed that the clamour against
110,-Ithe 4EII, like the distresses of agriculture, would be
- *2 Itemperary ; and that after three or four years had
4kelapeed, Parliament would rejoice that they had cos-
' ktistently sod firmly supported the Bill for the restore-
dui of the correocy.—(Cbsers.)
$ • Mr. ELLICE rose to say that it appeared to him a
clear .position that the price of gold was no eateries
of the value of foreign commodities coming into the
market. The fair mode of estimating the currency
would be by the standard since the suspension of the
Bark Bill, in 1797. There was a depreciation in the
vitae of the currency of from 20 to 40 pee cant. in ten
years, from 1810 to 1820. Of this depreciation,
though the country did not feel the effects tasusedia•ely,
it was no reason that it would not bare been felt seb-
seleeatly. The lion. Oeutlernan has said that the
reduction io 1810 was not effected by the issues of
the Bank ; but the debt was reduced to 24 saillitioa,
sod is conselemeee of such redaction, the tames of
the country hanks. is 1814, was reduced to sieves
millions; and in 1816, to sin millions and a Wt.—.
After 1816, the scheme of relief adopted was to bee-
rev/ paper, and consequently the issuing was increased.
aed the value of commodities considerably raised,
though sot the price of gold. Nies millions were
borrowed in 1816. astrup to July, 1107. the Balk
issued to the mould of from 3 to 500.0001. per month.
TINI standard of the currency must be estimated ac-
cording to the quantity is the market. Surely if
eight millions be takes from the Bank, and sot put
isle circulation, but sent out of the country. so ea-
teries could be formed of the value of other commodi-
ties from that eimasstasce. In 1815, 43 millions
were raised, what the price of stock was 54; thus the
45 ealliess coot the ',matey 83 tallness at 3 per
cent. Then the escheage on Paris was 18f. 30c.—
Now the country has to pay these 45 million at 78,
which beconses4ls million.; besides animist; for the
depreciation of currency 40 percent., another item of
25 millions may be added. leaving altogether to the
country a debt of 90 million to he paid. The etre-
ciatioo of the currency had a deplorable effect on the
labouring classes. The argnmeot of the Learned
Geatleatas cut two ways; if the depreciates of the
cornet, effected the labouring claws, because it
raised the price of provisions, he would put it to the
country gentlemen. what is new the effect on these
classes that the metallic currency is restored and the
prise of pros-Woes coniderallly reduced. He was
aoxious to say a word with regard to what fell frets
as Hoe. Director of the Doak. If he was anxious to
hare added a einem to the Bask DIU, by which they
would have been obliged to pay in essressy, it was is
a great measure to pet a mop to forgery. to which se
noisy usiertesaes pusses bad fallen 'Wins. The
Hoo. lobjost was to borrow 4 olilloosforatook-