The enquirer. [volume] (Richmond, Va.) 1804-1815, 1810-10-12
CAMDEN.
= BRITISH PAPER MONEY

nht 1911 thFEN MONEY
The" Bullion Committee " of the House Of
Commons have drawn distressing Picture aof
the effects of a redundant circulation of batter
upon the price of specie and bullion; and the
rate OF EschanSe-Since the year 1877, when
tie Bank OF England was authorised To suspend
its cash payments, the price of commodities has
gradually risen and along with them the price of
bullion---snd a fall has taken place in the rate
OF Exchange. Paper being no longer convertible
INTO specie at pleasure, the Bank has had no in
ducement to adapt the quantity of its paper me.
dunn TO the demand.--Thc remedy which the
Committee propose for these endorsements is
to do away the statutes which have continued
the restr'ction--to bring back the Bank to
the original principle of cash payments-allow.
ing 1t two years to make its precautionary ar.
engagements. OF Extracts from this able and G.
iaborate Report in our next.
Times are little altered in G.. Britain since
the following statement was penned by Ed
mund ourke I" They (the French revolntionstsl
forgot that IN England, not one shilling of paper
money, of any description, is received bu, of
choice that the whole had its origin ia cash ac.
tndlLY deposited, and without the smallest loss
may be converted into cash again Our paper is of
value IN commerce, because inland is is Of none 1t
is powerful on Change, because in Westminster
Hall 1t Is impotent. In payment of a debt of 90
shiliings, creditor may refuse all tie oabey of
tie bank Of England Nor is there among us a
single public security, of any quality or nature
whatsoever, that is enforced by authority In
fact 1T may be easily shewn, that our paper
wealth, instead Of fessening the real coin, has a.
tendency TO increase II instead of being a su6,tt
tnfe for money, IT only facilitates its entry, its
e*f, and ITS circulation ;hat II is the symbol of
prosperity, and not the badge Of distress Never
was scarcity of CASH ana an eauberauce ofbabey
subject of complaint in this nation. -
BHrke's Reflections, 1890
Va hove baan Co,.,.oI
from Liverpool, with the perusal Of some I.on,ion
prn ts--Ihe last date is the 25th August, the
same that has been previously recei ed, via NJ "
York-tbese contain only one article that is at all
interesting, and which follows from the States
man OF the 25th. We are informed, that on tie
very day the above gentleman left London, Mr.
PinkDey was to have he'd an interview with the
Mar. Wellesley, respecting the late Despstce 3
rom frsnce-and that the result is probably con
tanned IN the Dispatches, which were sent on t.
tins gentleman IN Liverpool. and which were for
warded by INN IN the Saturdays mail, from No,
folk.
Ia MINISTERIAL paper has the following
observation aud we are glad to find our
orders Of Council are to cease. L, would
be well too it Ministers would review their
doctrine OF blockade, and corad see to what
INJURY to yourselfit inevitably leads -
Statesman
" We have already stated, that Bona
farte has expressed his determination not
to grant anv licenses for the importation of
East India produce before the I'd of Novem
Der. This determination is said 20 have
been come to in order to enable him to as
certain whether the British government will
repeal its Orders of Council.-There can
be nodifficulty or hesitation respecting them
land our ministers may notify that the E.
nemy, having declared his intention Of re
voking his DEGREES on the LIST of November,
the operation of our Orders in Council, con
sequent upoa those DEGREES, will cease from
that day: AS to abandoning the blockade
OF his ports. they will take no notice of that
condition, which Bonafarte himself is per.
fectly sure we shall not comply with u
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PoR TIE ENQUIRE ~