The Statesman.
London, England, 1821-04-14 00:00:00

being the case, that while bullion was not depreciate:l
More than four or fire per cent., all other commodities
had fallen as much as 25 per cent. With respect to the
Rieardo system, which substituted payments in bullion
for the ancient currency, it was, in his opinion, neither
more nor less than a cheat and fraud upon the public
creditor. It was &violation of the public faith, in so far
asst was a departure from Established usage. It was
one thing, when the value of the precious metal' was
kept down by intrinsic causes, over which we had no
contrail, and another when it was affected by artificial
tricks and contrivances, by innovations on the laws,
which regulated the currency, and by forcible legislative
enactments. The Ricardo system might protect the
Bank against the effects of any tudden run ;it might
facilitate the collection of die revenue, but the great ob.
jeetion to it was, that It was a violation of the public
faith, and that it operated as *Air to a 'return to cash
payments, and tended to perpetuate the paper sys-
tem, with all the evils, moral and political, which were
iosrparable from an artificial currency.
Mr. CA lA.RAFT said, that Honourable Gentlemen
had argued asif the Bank Restriction Actwa' a measure
i;cd for by the Batik, whereas it was forced upon
them by the Government, and by the political occur-
r-ticesof the flay. It shonld be recollected that the
Bank, was the representative of a large body of persons,
whose interests they were bound to protect, and it was
the duty of Government to take care that, in transac-
tions between themselves and that Corporation, the
Bank did not make too advantageous a bargain. Ile
saw nothing reprehensible in the conduct of the Bank ;
on the contrary, his opinion had always been that their
'induct reflected the highest credit upon them as
Trustees of the body for tt hom they acted.
Mr. WILSON said, that the Bank ought riot to be
Warned for the increase of its issues from 9,000,0001. to
•00,1100/. of which the Hon. Gentleman complained.
The cause of that Increase was, that the country had
been gradually drained of its specie, and unless such a
o.cusure as the Bank Restriction Act hail been adopted,
it would have been impossible to carry on the affairs of
ace/wintry.
Mr. Allf•rufan IlliYliATE said, that the effect of this
o.casure mould probably be to throw the forgeries upon
ewflitry 11. notes. If, therefore, the country bank-
er, should he indtwerl to withdraw their I/. notes from
ireulatloff, he wished to ask whether the Bank was pre•
rred tritii a sufficient quantity of gold, not only to re.
Care ti:c:r 'tun It notes, hut also the lf. notes which
he widish ass ii from circulation he the country
h:o,ler,. Ile was himself able to state, that the issue of
I!. notes on the part of the country hankers, was the
Icast profitable part of the business, and that it bad been'
it iinest;on will' many of them whether they should not
s. holly v. it lolraw their small notes from circulation. lie
verdured, that he hail no wish to excite alarm in making'
fi!,.crvatlons, hot he felt this was a question which
deserved to be considered before the present Bill passed
iccfn a law.
Mr. 114 INCIi. explained.
hir. RICARDO said, that the conduct of the Batik
1w as certainly reprehensible, iti so far as they extended
their limes much beyond the 'ls which the necessi-
ties of the country required, and thereby produced all
11.1 evils witielt had arisen from the depreciation of their

,; !Or

1

t
• •
Coltlnel PAVIIIS
the seeesslty of filling up such office %vett sAtisfactorily
nient was calculated

ftLia
Witt
Out 4 a
Lord PAI.:
tiny •
. sea
aganaale
tylv
lames, Lori
Sykes, Mr.
1
,tees hereto. 1
had rots 1
office was la
stated
was • •
oreamlY
uthisq but a
" altogether
ncellur of the
Duets,,
And the House
nsi it, 79
oustDAMES
ot Army At.
rhea the Army
six millions,
v A.cossts did
1m.21, when the
more dna one
rs amounted to
xpenve in 1747.
tring, that the •
['hire of the sae
ion.
AIKEIt op ra
lie ditties of the
re 1797. •
meta.
tbitlerahle
t the perfect Au•
urted the origied
affording a tug er
Ilan to a Oeserd
resew', the il•
ssion of 2,001. a•
the (*nominee oi
lad no regiatenti,
en faith by lioitiag
jut tieweral's, who
err Angolan. He ,
e propriety or I*
first instance, hot
see been broke..
tun Sir 0. Noll,
lumnsi ate tlisithal—
!, 4.5-31ojarity, W.
Report wen ordered
5.
red that the Ilate
e Acts for proem
view to twig in
e of
o
o
stateloudlyThe
vottiblee
efeoteeteftu irraaeiahe pi aam
esacalledwr wpey ofs tuae j
at
a °Swat
am
al
t.
tri
esag
e utmost irritating
wted by a recent ws•
ti
circumstances two
an
ty of wilful murder•
ui
r brought in this ret•
a
e man to mercy, of
anent had acted. The
ishermen at Hastings
the whole populatioo
these dreadful saga.
had been shove los
for Su.sett who was
estv's Ministers. earn
Mils, some dews` of
. It could one: be
mild be corvette I, fur
murders, to jf evst •
then landed. Tlaer
ne that we mild
Itould not be rtiviii
sjesty's subjects.
FACHRQLTR 01'
a prisoner teas MOO
guilty by the priiri°
amend him t o 00'
a
the Govern, eit c. 14.
'
With reganl to >M w'
ly shewed tl in a re'd
disposed to smogtillsl
I only he is •pressesil!
,res. The to nhsppl
.nrred, were only fie°.
.
en the rest neelll6 6°
t inertly it I SIPSeI
. In ltort et, in Derr
"and ttt oOr Owe Jtr
small rif ,age, the MOP
iota and it ffrayo•
a know • whether tha°
w
tee relit e this block
walls di tigerous to re.
wa