The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-07-02

~tsng.ish money Is, or what 1t Will be tor a..
ny length of time. The dollar is. now "a
prii S. 1919 at S. Cd. and what it may
be at in six months time. no man can tell.
]. therefore. thought it best to take the dol
aar atits old sterling value of As. Sd. At
that rated. I,have turned Mr.. Livingston's
sums into sterling. But, as have not chang
ed the currency IN some OF the earlier chap.
ters, l beg the reader to observe, aud to
bear in miRd that a dollar is As. Cd. and
chat a cent is hanGredth part of dollar,
ehat is to say, rather more than half
penny.
The plates, which the reader will find,
are fac sintiies of those in the original work
and, besides being necessary as an illus
tration of the authors sentiments, they are
of use to the English sheep breeder, because
they give him a correct idea OF the shape
Ut one of the finest sorts of Spanish sheep.
The matter which will here be found in
the With and With chapters, formed AN an :
1aendi;r and supplementary letter, in the
American edition. have taken the liber.
ty merely to change the form, in order to
make the work more of whole, as Mr..
Livingston would doubtless have done, had
,he had an opportunity of publishing new
edition.
WIN. CoBBETT.
STATE Prison, .Ne7o- Gaze.
Wednesday. SCI .AfirR. 1911.
English papers, to the 9TH OF May, have
been received at the Office of the National
Inte!iigencer.
GA the 9th May a debate took place in
the house of commons, on the subj ct of the
present high price Of bullion, and the depre-
citation of value of the paper currency. In
the Course of very long speech BY Mr..
7orner, who has already distinguished him.
self by bis ability and deep researches on
this subject which speech contains a vast
fund OF valuable Information, Mr.. II. made
the following remarks:
II viii be recollected that it was referred to
the committee of last session to inquire into the
causes Ofthe high price of goll bullion in the
market above the price settled in the kings
mint, and to ascertain the, right remedy for, the
evil thence arising. That price has since further
increased. Great part of the report is to be con
s'idercd q. collateral part of the evidence upon
this subject but the main part Of their report
IS as to the high price of gold bullion. List
srF.mer, when the matter submitted to the
committee, the price OF an ounce of gold in the
mint was 81. 17s 10ad and it since that time
rose TO A. los. snd iatterly TO II. lbs but stat
hight now at Al. las. there was difference al
ready ofsomething more than 90 per cent in
The excess ofthe market price over that of the
mint price. One important fact to be kept in
view in this discussion is, that this high price of
of the current coin of the realm, which must be
ofgo'd or silver of certain and specific weight,
and o! certain alloy. The promissory notes Of
Inc bank of England are engagements to paw so
much lawful money oil the realm, as they pur-
port upon the face of them. A note for one pound
~ an obligation 10 pay one pound sterling, which
is % stil,iags OF the lawful money of the realm
now say that the market price Of bullion being
50 high above that of the mint, amounts TO de-
parture from the original stipulation, as these
pyomissory notes do not, under such circum
stances, any longer repre sent that quantity of
geld or silver originally intendcd.-The real
quantity OF monty pound note Will at present
purchase in the market is only about ISIS Tod so
that say that gold and silver have deviated to
the extent Of that difference from the lawful mo-
ney of the realm. 1t will not be argued that the
standard price of the money of the realm has not
been the object of parliamentary consideration.
The whole of our parliamentary history is full
of the most anxious solicitude and interposition
whenever it was thought that, by an abuse If
the kings Prerogative, there was the smallest
variation OF departure from that standard Ma
nv of our monarchs debased their coins---but
parliament always urged those soveregns who
did so to restore the standard to the lawful va
lue, and we find that that in junction was iavari-
ably complied with The las, operation of this
sort took place in the reign OF queen Elizabeth.
subs 3usntiy to ar instance that occurred i'm the
reign Of Edward the Sixth-In that queens
bad been altered both with respect to fincness
of the metal, and the weight of the coin. 1t is
unnecessary for me al present to state more mi
nutely the law that exists upon this subject. for
have stated it sufficiently in seven or eight of
the resolutions which / am about to propose.
These state what has been done in seven reipns
for the purpose of restoring the coir.-.and IN no
reg does it appear that more anxious exertions
were used for that purpose than in that of his
prespn' majesty. In The 14ih and 18Th years of
his reign ? new coinage of gold and silver took
place, aud the statutes of tke3e years Fixed that
no legal tender could be made but by reference
TO the weight OF the coin. BY the act of the 14tb
ofbis majesty 1T was enacted, that no tender in
payment of money made in the silver coin of This
realm, oil any SUM exceeding 25l. at any one
time, should be deemed in law legal tender
with G or Ireland, for more than its yaIue bv
weight after the rate OF SIS I'd. per ounce and
by proclamation of the 10Th Of this reign It
was directed, that if the weight of any pvinea
should be less than 5dwts. 6 grs it should cease
TO be a legal tender--Tbis therefore, sbews
clearly that the standard coin of the realm shall
be preserved with reference to the weight B.
this may take to be he law upon the subject
and that such doctrine has not been question.
ed up to the present hour. Very inconsistent.
however, with this doctrine are to be found the
theories tkat have been prevailing. of late years.
&C.,
In Psri5 and Hamburg there has been of
late considerable rise In the piece of eold.-
by the late prices current of Paris it appears
<I,.t or II noi;sh NJ nj ocl1 10 ,.,ort. o. ~.