The Statesman.
London, England, 1823-02-05 00:00:00

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prove ?pun the eatteritie prospects th.t treorglilik 10
their view: Nis Lordship concluded With asoltintr the'
to his MejOsty; width. at usual; was in Oho of •
the gprech.
The Earl of MATO seCanded fbit Adfftesi le beery
short speech; which could Dot be belied befisritisi hai. .
The Address being read by the LORD CRANOW '
LOlt, and the question being put that the Hints.' de ,
concur in the same,
Jar) STANHOPE rose, and field it would not be cisa:
sistent with the dignity or dttly.of their Lordships to
tasks their Address a mere echo of the Speech I particu-
larly so when the country was involved in unexampled
distress, and when the necessity Of relief was to pressing
that relief could not be delayed any longer. This was
the third Sessiou in which Agricultural atitrees was
ackaowleilged to exits to the ittmoit Ptiiiifide eitent.and
vet no plan of relief had been adopted; eel( y compliiet
had been unavailing. All that had 004 ettated by the.
Noble Earl whet moved the Address wet, that so
relief could be given.--(llear, hear.)=-If this
Noble Earl • was sincere in Lis declaration; it was
impossible for. him to pronounce I atelier satire .on
the tiovernmeet than that declaration. Reeeirdiw to.
the declaration of Ministers, the hoenties Or'Preeidelesi
were a calamity. For. his own part, .he Could not oat.;
ceive how abundant 'merests could have the effect of
lowering the price of provisions. and he, defied any
man to show in what period of our bistorY ebdndance
had been • canoe of distress. The price of cots had
been reduced 50 per cent . and was there any thiindantal
which could have produced saeh an effect, as that? Re-
sider, bow could abundant crops have produced a fall le
every article of commerce. and manyfacture ? Yet it
would not be contended ;bat there had been au ittcreseed
supply of those articles. Importation could not now bo . .
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alleged as a cause.of agricultural distress, forimportation
had long 'since ceased; nor wos the, alteration of tte
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currency the cause of Attests, for is alltti itYlleldrlV . .-.'" -1,
commerce there had been a fall of. 31i per cent.- -a it , • ;A.. , e., 0 •
to which.,the depreciation-of the ctn4ncy bore in
portion whatever. 'When Mr. Peel iptroduced4sW: . Is
..: ,: ,:„.1.,.
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• great deal was said of the manefoctures; RO( die; % , ....1..., r.,1
tresses however did not arise from high price', but wine
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of employment; and when these unhappy pereqat awful
bled to complain of their distresses, the Six Atli 'trees
passed to restrain the liberties of the people. Pe wptild
not agree with those who attributed the .distresses of
the farmers to the diminution of the currencyt for,
lin the
.year 119'2, the circulating medium was testy
the prices of commodities were low, sod ye( the
country was in a state of unexampled prosperity !
How could this be accounted for? The answer Prat
very plain; the difference between the state of the
country at that time and its present state arose from the
difference in, the amount of the taxation. It had brut
falsely asserted. that the distresses of farmers had been
occasioned by high feats. So far from that being the
case he could state to their Lordships instances ocer.-
ing in Essex 'and other counties, where Ottanit ruse in
the habit of receiving preminms from their hindlords;ifi
order to induce thous to cultivate the lied Int itahiuld
run to waste. H's contended, that the effecteof the chant
in the currency bad, been to. make the foodisoftle
chargeable anon the product of the earth, donbli more
titan be was entitled to. Looking spin it is this light,
then, it was a nefarions act—a measure of robbery and
injustice. Much was said of the necessity of preserving
public faith in every newspaper that one met with, Nit
this consideration of how far keeping faith with
one class of men at the eapensl and nottlitie rain of
another, bad not.hitherto been sulfiiientiy attended to.
Surely if ti system was continued which yr •to the fued-
holder twice mere dots be. was entitled It woe tithing
i
from those who paid die .hatos gate} te tba.ll thtY
were bound re pay, sad was theref `si at. It was
necessary thee to 'goalie* the pre •It the.geaeral
burden in some degree, 10e igenootiefc trasbeing that
a reductips of the ditddeada ;foula contribute meterially
to this public *drainage. Sohi2mly impressed, td's he
with ftn*oitltion,' tilli4iwis - the sublectio, Yfit'..tha.
*it' tebthiAModd . ' ' -their Lerepth*'attipekeß,
H. wee Peritnided that. t very agitation of 'te OM:
tip would he -proddctive of good. "rile all,'. wily le
consider it would be as a question bettneet—Atti4scro
vidotle. When the Noble and Learteedliord 'el tree
Woolf eck had betted the &Velment. on •hotll- shies,
he swag sure that that Noble pereon—foe. whoM he
professed the highest regard, and than whom be be-
lieved no more impartial Magistrate ever presiddi in
that House, would be induced to retract the °pinto*a
which be bad before delivered. Reverting to the speech
from the throne, he was glad that a pla was thee*
held out, for a reduction Oaf taxation, thou, whilst the
present eurreaey contended, he feared
.amount in
which it could be redneed must be limited. One thing.
however; be wished to tell the Noble Rill and hie co:-
league., that if they did not reduce the taxes, the lazes
would soon reduce themsePree. 'the sources of taxation
were already nearly dried up, and thoilriumewhicb bad
bees hitherto afforded by comparative wealth; boatel to
loopy be *rung from the now unhappy bed imposer-
lilted people. (Hear, hear) He had not the slightest
hesitation in saying, that if the peesent sem of taxes, or
any thing near it continued to be demanded, it
'shoot end An a national bankruptcy, and that too, at no
very distant period. He would have them avoid the rain
which was gaping at their feet, in time; but. it was im.
possible to trio.. with it. It could be done only in two
ways—either by reducing fell 40 per cent. upon all taxes
sod payments by contract entered into for any tiv, or
increasing in the tame proportion fhe circulating me-
dium ()ribs country. If it was st all necessary to addace
Ipreofs of how great a change had been made in the value
of the currency within half a century, it would be on'Y
necessary to refer to the Resolution of the House of Com-
mon., which declared that a pound note and a shilling
were equal in value to_ a goinea..at a dine that trainees
were selling for 28 shilliage a Plitt, end whith stale
it was found necessary to put witopl4lloolll,broughr
into this House. Tilts Resolntibn Artnitedlicadtre-
vertible proof of" the depreciati4. of the carrenty,
and it was idle any longer to deity that such 1 Ohange is
its value bad taken :plece Waelt Rot reasonable, then,
that contracts entered into under the Influence•
of such
currency. should be made to accoickflidate theinseirei i
the condition in which the currencyhow was? • TO con-
tinue to make one party pi* as Many p0110111..13011 ill f4l-
- of any contract •as when the' aani atbebei or
pounds were cooeiderably less equable, Prat in Ithlr
liajust;pa it lin ei'd upon ova party a bottles ' 161C14 ir ,
One unlisie to r, and gave to Art othillek vantage
)co,telsielt 14' 'Dot entitled,. These werwerime of toe
eifiesitit. ,
.. wbto% i-it produced on "scissle, propirtfe.; Sys
Vwere 'Curs in *bleb it 4:411 math Ipattte,
Where Abe injostlie gene would amount 44,ity
'us ,epellienifts of :hi ',iolierty implicated br'ellesis
cooteseta 1 tbeNeldi rd bad any doubts en theigilt;
left,. he might' eetiefy lateen by the best •evlllioice
pat it was skid that the neat theta or the change out.
Ike curreice4oold'be to produce a transfer of proper y
'teem one hoodto another. This
.pisiltieo be denid. Ili
denied that if property,wae rendered unproductive is
one hand, it could be made snore valuable to other banes,
where more capital could be applied to 'whence it. For
if things /redcoats to se 'it pass from eite pressure of
taxes, and the multiplicif of Other dier.andts create') by
the peewit cireumetancpi f the times, that land predneed
wo profit, thin the eidditlite'of 'capital could not make it
more productive.,, eineeits prodiace wodld, be consumed
ley tsars. Aod tbs'eas* we deliai of tho charge whim/.
lies brought *against the ttoverisineist eat, that wader the
pithiest stare 44 this's(' the land piodiced nothing. With
I!s'iriew thatto the bettering of property it was absurd
"say thAt 4...transfer' woad be at nireotadieive. Pa

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