The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-05-03

.""' rs MnJeS .isouid be empow cred 20
issue Exchequer Bills. to the amount OF six
miiiiohS' to Commissioners, under certain
regulations and restrictions. for the pur-
pose of enabling those Commissioners to
advance certain sums, by way OF loan, to
ssch persons as may require them, on due
security being given for the re-paym, mt of
the same.'
Mr.. Ponsonby said there was no simila..
rity between the situation of thing at pre-
sent and the circumstances in whch the
country was placed in 1898 At tn al period
ehe Contlnent OF Europe instead of being
hostile TO us, was, with the exception of
rance, NOT only friendly. bu. the greater
part OF was i'll alliance with US, and
france not only wan;ed the influence she
now mas over The surrounding nations. buc
sue was unable 20 prevent their armies Ia
KING the held against her interests. Ire
right honorable gentleman had said, those
VINO had entered into the largest specuia-
ZION WITH respect to South America, mad
peen punished for their rashness by bank.
rnP cy, and that those now to be relieved
were me victims of those speculations, &
not the Farmers n the crime For his part
he thoeght twhatever blame might be aS.
tempted to be tni.wD on those who had
oeeh the NEST ven'nresome) hat the rrIgin
o' 'he eVll night be raced 10 the eXaygera-
tons, the falsehoods, ana the misrepyesen~
tdtions which rad been head an that House.
oouth America had been spoken of as attore
o,hS ma ket that won d axe allour mer-
cnahthze' and that he looked upon as the
great cause OF the ectnt failures, and the
evils OF which he mel camille world IL pre-
sent complaint d. The Right Honorable
Gentle.nan had said the present state Of
tnIngs was tn be c0u itlerod as but Temporal
fy, hough it might be of longer duration
nan the stagna;om felt in 1898; and under
these circumstances, he thought the same
measures ought to be resnrtedto to, as !. adj beer,
adopted on that Occasion. He could not a.
Zee with this Was the market of South
America glutted at present Had that
country atpresent more ot nur merchandise
than was sufficient for the consumption of
one year! lf hat were the case me f,ri-
'isn manufacturers must stand still till tine
stock was consumed. He could not tell 20
what amount that country might be stocked
WIKI inc produce OF cur industry, but when
SIX mihons pounds were thus called for. he
thought they had right to conc ;ude thai
things were so; that without such assistance
they Could not rlghl themselves in less than
one, two. or perhaps three years The
right honorable gentleman had talked nj the
great trade OF the country bur he appeared
to labor under mistake Exports we're
not trade; out he had spoken OF them as if
th'!r amount was sufficient proof OF the
no rlshing state OF our commerce.. III we
III de extra exports we ought to have re.
tn nsj anu If Instead of this, what we s.ns
out lay .ocked up In South America for TWO
or hree years; vas it thence to be inferred.
ina because our exports were large ,pr
trade mus be great ! He did dot think
with the Chancellor of the Exchs ouer. thar
the ,lresent stagn ION OF trad, !, as co be
traced principally 10 Sou,h America. Inc
state u ne European markets was, In ms
opinion, inore Immediately ne cause and
"uat P:uspecJ ui Change in in, N with,n
an Reasonable line could the rlynt nonora
Die gen iemaH DOW hold GU IL had been
said mat af.cr 4 g;ut br. K lemand was
usuaHy succeeded by mot advantag. Gus
ohahSe. H1 vas aware hat IT had h., n So
from events which were not such as we're
likely to occur agaiu The last time me
French seriously dir, cted III If attention 10
me annihiatiun .ot.nGr trade. they had been
rallen from the bordeis of the ocean b, the
Austrian war. Tue Spanish contest lad
maze a new diversion IN favor Of our COM
i''srcer bot what prospect was there ihas
such events would agaiu take place! They
hau '0rHlerlY been told by The r.ghl nonora-
oie gentleman that the edicts of France h d
shut he markets OF tie continent aga,n4t
U.s. out ne (the Chancellor OF the Exch,.-
quer) had found Gus an ;ns.rumsnt winch
you'd SOON open hem again, and restore
the tade OF the nation. He then Drosght
forward his Orders OF Council, which I'D
been sanctioned by parliament, He would
now ask 1T they had produced hat effect,
or II there were any probability o, her &C.
conipllshing wi,hn d short time, the object
he had IN view! From he present resiric.
ted state OF ouT Intercourse, our coion,,e
were ratner burtbeDsome than profitable as
their produce was lock dup here in COR.
sequence OF our being unable fiud a mar.
Ket Tor u on the Continent For the same
reason, our cnnquests tended to incrcase the
distress, De auSe while France had con 90
she did not nterdict colo, ial produc, 40
gether, and mach English colonial produce
tfund IT'S way 10 the continent wi IN the PRO.
duce OF the French Islands From the mo
ment France los, al her West Indian ,,os.
Sess ons, she Ctu'd nave no int rest II, Al.
lnwin8 OF such lmporta ions, and lhey were
III conseqp nee III &c stric exclude d than
before IA Tecomn encug the measure now
before the house, .he right honorable gen
leman mad informed them 40 mischief cDnIJ
arse from u, although much good might III.
low the APARTMENT, 1t could no. 6y anv
means de- bs'm. He MIR p did nottbink
ior M l'sri : 1ptr'ment was so petfec,tv
na'miess, aH2 - asure ST. very SAT-
lie. tnouSht 1t OF li do good. anu he wished
It might, bat 1t appeared to hIu impossiblc
u return 10 nat Sc &c from which inev "a 4
been unfortunately led by their iolIy. H.
way So very easy and free from d. eer
mat sprit OF eD,etprize which had lei to .
such fatal consequences ought To- bs IL,