Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1830-03-20
Evm Ae London 1ymes, February S. vsssiseJ al Ms
why Office.
IMPERIAL PARLIAMENT.
HOUSE OF COM.MoNS, FEB. !

r,shsr ,ucoront of the contents of HIS Majesty,s
spcech and equally ignorant OF the intention Oh tue
hon. baronol, Or Of any other gentleman, 70 PIoPose
AN dr,cnt but an amendment having been moved,
and debate having upon it, he felt called upon,
without reference the possibility Of prospective ar
ranrcments which might be tor consideration here
ncr TO express his opinion the subject with refer
cnce TO the simple matter of fact the state OF the
country, which tho real question at ISSUE 1.-THE
question wore as to any particular mode OF rciic
would be equally unwiec and unbecoming to SO INTO
it when assembled to thank His Majesty for his gra-
cious speech from the throne; accordingly, from any
thing OF that sort he should cautiously bstan But,
after what he had heard from the noble mover and
hon. sccohder of the proposed addressafter all that
lad fallen ffom those who had since addressed the
Lpusc--and from HRS own knowledge offacs, he felt
bound to state his opinion that the real facts OF the
case as regarded the public distress, were more cor
rccty stated in the amendment (hear) moved oy the
hon. bart than the address proposed by the noble
lord. Entertaining that opinion, whatever might
be his wish abstain from saying anything upon this
accession, he no longer at liberty to support an
address which did not contain so accurate an estimate
of state of the country was 10 be found
in the amendment. He thought 1t material circuiu-
stance in the present state of universal dsquetade
and dissatisfaction that prevailed not to provoke
hostile discussion between the representatives oil the
people aud the people themselves, and not to call
down on the House OF Commons reproach by under
standing the distress and difficulty Of the time. The
best to be adopted IN order to meet and over
come these difficulties, to look at and avow them
fairly He was not ono Of those who thought the diff
fcutes SO great as they had been represented IN
many did not despair of seeing the coun.
Try restored to situation of prosperity; but from oil
tho information he possessed, he felt satisfied that
tere existed that degree of pressure on the pro-
ductive classes generally, which, were 1t to be per-
nanent long continued, would be Incompatible
with their continuous ex stencc. (IIcar, hear.) lie
was of opinion that the country, SO far the produc-
tive classes concerned in all unsatisfactory
and suffering, but he trusted and believed not IN
decaying and falling state. Ii Parliament looked at
the subject properly, and acted part of The speech
recommended, they would find themselves fully COM
peteut to cope with the existing difficulties and
come them But il wss by studying to bcueft, to the
utmost the industrious classes that could alone
ray any solid foundation Of public happiness, revive
prosperity. There were many things difficult TO he
accounted for in our present condition, but which
Parliament would do well TO attend to. Some gen.
tlemen attributed the distress to supposed defcien
cy in the currency,-a proposition which he thought
IL would be difficult TO maintain, for now saw
ney move abundant in this metropolis than at any
former period. We saw excheQuer bills producing
81 per interest selling at premium of 75s. and
we saw the low rate at which money was every day
borrowed. The fact was, there was q stagnation IN
several parts Of productive industry, and
flow of capital in others 1t was of satsfac-
ton TO observe that the produce OF exports last
year exceeded the exports of any preceding year. but
az the same time knew that the capital and pro-
perry so employed had in many instances been unprc
rucfiye. IL would be difficult to reconcile the two
Facts of deficient currency and low rate Of profit
In almost all branches of productive industry the pro-
fits small as not TO compensate for the amount
Of capital employed, afford sufficient support the
individuals whose labor required. There must
be irregularity of action in condition. Cir
cumstanced we are, to propose to increase the
rency would be similar recommending individual
sabect to too great and rapid an action of the blood
to drink quantity Of brandy. He would not support
the hon. bnrooets motion, If by doing he should be
thought to imply an assent to some OF the doctrines
urged BY its supporters So far he from concurrng
In these doctrines that he had heard with satisfaction
what fell from the Chancellor of the Exchequer in
swer to them. He satisfied that among the causes
of disouietude and dissatisfaction that existed, were
the deusve hopes, the unounded approximations, and
general anxiety that must prevail in country, long
us that which formed the measure of value with re-
epect to property subject to doubt and change.
ifthen we had even been in error (which he far
from admitting, but maintained the contrary in 1sl9
1895 or 1926, it would be better to persevere than
To unsetle the of the country, by again tamper
ing with the currency. (Hear.) 1t was to other
means that the country must look for relief An un-
settled of the public mind of the great
est evils that could beall country He did col
lect from the speech Of the honorable baronet, that
any member required to commit himselfto parti-
cular measures if he supported the amendment. His
right hon. friend limited that distress not so gen.
eral as the amendment would make it appear; but all
his ingenuity could not prove that the distress was
confued to some particular parts of the country, as
the address stated The productive classes general
y were in state of distress. lie believed that this
owing to causes, to many Of which it was beyond
the power Of Parliament to apply remedy, but it
in their power to satisfy the country TO what
the causes were, and to afford partial reefby giving
better direction to the capital Of the country: upon
that point he differed materially from the hon. secon
der Of the address The hon. member seemed to
think that the reduction Of the rate Of interest in some
Of the higher denominations Of the public securities
would operate ayoraby, but it appeared to him that
even that reduction was far from being an unmixed
good. The amendment had been described to be
milk and water amendment" but that rather recom-
rnendod it to his support. Hear, and laughter He
did not wish to ent9 into the large field of foreign
politics, but he might observe, in passing, that His
Msestys speech merely stated that the war between
Russia and Turkey had terminated. This was the
statement of fact t had been sadly before known;
but such statements were not uncommon in speech.
es from the Throne. For his part, he was glad that
it was stated simply that the war had terminated,
without any explanation of the mode by which that
termination had been effected. (IIear, hear, and
laughter II was received principle, that The indie
Vendence Of Turkey was necessary TO the mainte-
Of just balance Of power in Europe. and that
circumstance did throw upon Government tho onus of