The Statesman.
London, England, 1812-12-12 00:00:00

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*1111615510 --••••li.r
'skins% value, should correspond to the .ititeitisic va-
lue: the Inevitable consequence of not adhering to
litisprinclpie was to drive that kind Of currency,
She real ellue of whirh exceeded the Obinal; Out el
dreolation. This was.tlemotistrable by the.clearesee,
ligaments, and by all 'experience. Thus the hag...,
*cowns bad regularly disappeired, became linty were.
.really worth more than the three shilling Lleoft.
lames. The some pripCiple had driven all the gui-
nem, half-guineas, croWna, end even Shillings, that
were not utterly debaied inapiallty, out hf
tine. The J3lll wits quite Neff-cereal toil' pertfeseid '
object. A Uiil of the kind Must satrap brio. -
the LS mouths since it was passed,' what public pay.
'Count had been um& in guineas ?—Sineb its operation '
vommenced, millions of guineas had been exported.
IVltat• was the state pf the law previous to this Act ?
It forbid the melting and the exporting of guineas,
audit prevented neitheir i and nor, superadded fel
the ioefficacy of the former taws, comes an Act
which gives a promium'of 2S pei cent. on the vio-
lation of those laws: The present' Bill operates as
premium of '25 per cent.. on the kapoitarunt of
gold, and in thesarne proportion on its re-imports.i
Lion. Toelte ounces of silver purchttse, iccording.i
to the nominal value, one &lute of ;Old, and this i
one ounce of fold, by being melted er eirportett, pur-
chases 15 ounces of silver. To '
say that in Ihia'atate.'
of the market price the nominal and real Tuttle of gold I
were the same, nub saying that 12 tvasequul to 15,0 r
a part to the whole.
Sr. ROSE said, that though his Won. Friend
who bad just sat down, had %Wax! that the Bullion :
Report should be reconsitleresi apart, to whirls wish 1
h 2 (Mr. Rose) concurred, it was quite impossible '
separate it entirely frettithe present subject. As to
the statement of Bank-notes hating been sent to
Canada, he had never leaint that any had been scot
to that country for the purposes mentioned. 11,e,
must, however, doubt iittreinety that the I;eprecintion •
there could be 30. per cent: as they must be at least
of equal value with any bill of exchange, being pay.
able in Loudon at sight, and having a security,
which must be preferred to aoy private security
whatever. lie was ronvineed, that If Parliament had.;
adopted' peremptorily the incaution suggested by
the -Burnett Committee, 66 that the should bo
obliged to pay in cash after two years," it would
Itave.pt:educed the utmost possible confusion in the
'cOhntry.* Me would ask anyman, how it was pes-
sible that gold could have been provided for that I
purpose, when the country had net the means of ob.
taitiiiig gobs ? Without a considerable balance of
trade in our favour, it was impossible to bring gold',
into the country; sti.d us to vast was now in it, it
was not suticient for the °home market. When the
market-price of gold was much
.above the Mint
price, it ridicaloul to think of a eoiitage ; for the •
*siney so coined would be again exported or melted
down. In corriboration of this opinion, he read an
extort from a book written in the last century by a
r. Barris, w:ho was employed in the Mint, He con.
ceired, that the tiiaice given, by liord King made the •
'Bill absolutely necessary,estheesarnple of a mail of
such high character might.be followed by many others,
whose motives were net so fair and honourable. As
to the two prices, he thought that it would be a par.l
titular. hardship .on the public Creditor, who was
'WO to take the Bank-note at twenty shillings,
and might immediately suffer a considerable 1033 on '
bringing that into to wilt. li-e- then proceeded
to show,. that the high p a. of geld was not either
a necessary consequence or sign of the depreciation
- of motley. In MO the price of gnltl was 31. 17s.
per ounce, which was nearly the same that it had
been a century before, although 'the depreciation of
the value (.1 money in that time hod been in the propor.
tion of SW to 276. Thegreat rise which took place!
in the price of gold, was in the year 18013, when,
by the measures of the Ruler of France, an onex-
yowled stoepege of our trade -had taken place sin
Germany, and every means had been taken to pre-
vent remittance, (two the Continent to this country.,l
The outgoing:* of the country had M some late years ;
been as high, as tweety4nur millions,- while a stop.'
page of our trade prevailed. Last year no less than
seven millions had been expirted for• corn, awl this
neeessity had-now existed for many years. This wns
very steticient to account for the present high price.
of told,, and time state of the (*changes. Theßight
Hon. Gentleman then shotied, 'by, *felling to dif-
ferent dates, that the price of gold did not necossa.
ritv 1141 ry with the rates of exchange. • •• •
.Mr. PRESTON %lion& y supfilirtod the all.
tiItOTHEROE • expirisedltis -concurrence
antis that part Of
.the width' protected -tenants.
fro" the 'obligation to pay their rats itt gold. . •
Gentleman, whose name we amid not learn,-
• 'poke in favour (tribe Bill. '
Mr. PROTHEROE again turfs in 'support of the

spit .;• ; : r.
- The CALNtELLOR 'of the TXCITEQUCH. in
• eaptatukilist:
Mr. %# iliTsatA 9 said, the Right Rein. Cert.!
tkfnal, ever egnitibt hint, 'the Nestor of the Treasury
Bench (Mr. Rear.), had enhirrda,greittlleal bn the!
ruireirierousellects which tlit'ealitteoce of two prices
wou:doccasiou in the o'ilistity;-tserd maintained that:
this law had been floe means Of ting4wo prices.
Eat thi: grcuud of the Wight irGent: was
lately and entirely vicolef (*.ileitis time eve', the
lowest necosarias of life were Errata the Maritot at
t‘,bo prices.' in'a letter whTch rebeived from
fist h, lbe Kvsinforrfed that tab iirlitialieeree veil tbere !
fx pa:atyes— that three guinea's in 'Old purchasecras
many, potatoes a s'4l. 7s. in •Battit.tibtes' and Seib r.--
Notnithstanding what to itiattred Getttleuntit (Mr;
• Preston). had Ailbanced on the'sUbject rit contracts,'
• he could state that he had ben informed, that when.
a man found he had made a bad bargain, he frequent.
ly insisted on receiving paYtheat In gold, and when
*hit druid not he given him, he set aside the bargain.
An Ilan, Gentleman under the- Clattery (Mr. Pro.
therm.), bad given 'a very pathetic 4eScription of the
situation of the tenantry of this country. Would
you have them, said 11e, to be treated like negro
slaves, deprived of their goods, and imprisonerrat the
eiprice of their landTords ? The tenant of Lord
King against whom notice of action had been given,
• happened to he's sank Director. lie believed there
• were hundreds of landlords in the country who now
Cloned to talk yery hig'on this subject, and yet were
es,trentely mortified *tied they found,that Lord King
bad not succeeded. • with respect to Groh' Co be
world tell the Chancellor of the Exchequer that he