The Statesman.
London, England, 1821-04-10 00:00:00

con wa.l engaged their talent and their 'capital
in commercial enterprise had lust inure than hilf their
capital. One establishment,which had applied its
capital in 1417, ISIS, and 1819, subsequently to the
race, and consequently not affected by the transition
from war to peace, had, out of a sumiof from 300,000/.
100,000/., with which they had speculated, a liqui-
dation not exceeding 120,0001., whil • they had lost no-
thing by bad debts. No legislative act could restore prices
to what they had formerly been. Corn in this country
was 20 or 30 per cent. higher than in anv other coun-
try. After this measure should he decided and set at
rest, as he hoped it would be this night, the agricul-
turists could not expect what they called remunerating
prices. If gold were now at U. 10s., corn would he
• •
eighty-five shillings. He would have agreed to such
a proposition in 1119 ; but the question was now very
different. He likewise wished to point out to the
notice of the House, the different state in which the
monied interest an.l the landed interest had been
play el by that measure, so far as regarded the poli-
tical interests of the country. In the year 1,16,
.when the last assessment was made, the lauded interest
way rated at 31,000,000:. and the funded interest at
41,0110,11c.0/. NOW supposing the landed interest to
suffer a reduction of about one half, which was about
the redaction it bad suffered, they would have the
landed interest reduced to 20,000,000/. or there-
abouts, whilst; the funded intereat would be at
-10,000,0001.
The CHANCELLOR of the EXCHEQUER.—

t• No, no."
Mr. ELLICE maintained that the funded interest
would amount to the sum he mentioned ; fur there were
nearly 39,000,000/. of interest, besides 10,000,000/.
vested in annuitants and persoes of fixed incomes.
He wished to draw the attention of the 'loose to the
effect of this silent revolution on the political rela-
tions oldie empire. That would be seen most clearly
Lt lookinz to what ha I taken place during the recent
proceedings instituted ai;:vinst the Queen. Until those
praceeilings had produced discontent and irritation
•2aitist the g.ivernment among the great mass of the
p .pulation, the feeling of their injustice and inspolicy
was universal even among the Fun'lliolders. But as
soon as that discontent and irritation became clearly
manifest, the Ftyndholders, whit were before inclined
t, blame government fur having instituted measures
cilculated to disturb the public s.'eurity, 011 which
thetr stexess and well-doing depended, turned round
to :met a greater danger, which they fancied to be
rising up against them in another quarter. Ile men-
Cooed this fact, to show I • the measure on which
c.e.• were then deliberating had operated upon the
po,:tical interests of England. This lie was afraid
yylioid be the last occasion of which the House would
bait. an opportunity of expressing its opinions upon
tiie gre at will important question then before it. lie
thought that it might with safety have undergone
soole sumlifications ; but rather than open it again for
puitlic discnssion, he would submit entirely to the
weasure of I s 19, t onceiving it to be a less evil to do
sv then to inspire the public with a hope that Perlis-
m ut wonld deviate from the system to which it hail
then so solemnly and so deliberate!). assented.
Mr. PI ARSE was unde•stood to express hie dislike
to any further revision of this question; but his speech
Iva. delivered in so low a tone of %wive, that it was to-
ta:iy isiaudible in the gallery.
Mr. IRVING nest addressed the (louse, but was
scarcely more audible. We understood him to say
toot be fully agreed with his Honourable Friend, the
Member fur Coventry, as to the effects which this mea-
su:e had proilticel among persons engaged in Foreign
Cooimerce. Whatever the results might be which
I: tie expected to wise from the resumption of cash
pa, aients, it appeared to him Ott those would have
bold legislators who should have advised such a
iheastire with a knowledge of the consequences which
h y ensued front it. The Chancellor of the Exchequer
Lad said that he did not expect to be called upon to
iiroiosil that measure on the present evening; but he
to have recollected that it was not likely, when
so many Members weer assembled, that it would
lass through the House witlieut some observations
Li iuh oi:ereti tip•it the consequences of it. It was
hot expedient that the House should view the present
question with any intention of depreciating the currency,
fie. it was not front a depreciation but from an angmen- I
ta:iiin of the currency that the country was likely to
dElise benefit. Ile could not, however, refrain from ob-
svr.•ing, that the mode in which his nolde friend had
vtuposed to augment it, would be productive of advan-
tic2ei so trifling that it would not be worth while to sa-
ct.rre to them the great principles which parliament had
""ssir avowed. Some lion. gent. might suppose that
he bad changed Coe opinions which he had formerly held
upon this subject ; but gentlemen who supposed so could
net be aware of the tqiiniens which lie had then ex-
wessetl. With regard to the motion then before the
h vise, he should have no objection to the appointment
ut such a committee as was then demanded, were it not
f"r the idea that the appointment of such a committee
s‘s-dil create the greatest alarm in the country. The
I coureble member made some other observations ; but
li.: impatience of the house rendered them totally inau-
sisle in the gallery.
111 r. CRIPPS was of opinion that the present plan for
the resumption of cash payments was the best that had
yet been devised.
Mr. PEA RSE explained.
Lord A. HAMILTON said he would vote for the
Amendment of his Honourable Friend, because be
uls convinced that the subject was one which would
Lltimotely five itself upon the attention of that
Mouse. Inquiry should come at last, and lie looked
'Ton the present as the most convenient time for in-1
ii.itatinfLthat inquiry. The House would recollect
0.. o
he and his Honourable Friends, as it were,
tiersecated that House with motions to compel the
hank
to return to a sound currency. The Right Hon.
“"tieut4li opposite, and those who acted with him,
ulilf""iY resisted those motions. The Right Hon.
liietntloetean boldly- asserted, that there was no depre-
ciation to guareagainst, and there was a resolution
hauled by the Honourable Gentleman, and supported
hr s
no majority that House, which broadly declared
tiralie tle
depreciation
tZilestedman. Now, however, the
'tight lione
reprechin
deenat:olllY.and
with great
glkedreaot simplicity.
fthe great
was willing to found legislative-
nAeasuees upvn it. Yet the Right Hon. Rent, bad not'
„,, to expunge from the Journals of that,
rit prop.
„,,to
his ohnozions remolutioo. Tim Noble Lord,.
an" "use other observations, said, that numbers of
!snows throughout the country were reduced to
PnertY, wail were in aol
g i
n soseegeenes of the mea-