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had been compelled to withdraw them. | obstruct the measures of government. viding that the holders of 11. notes should, ❘ present session, he might bring in a mea

The imputations conveyed in the paper circulated under the signature of the earl of Liverpool and the right hon. gentleman opposite, had led, in a great measure, to the alternative which was now made a ground of accusation against the country bankers, by throwing a discredit upon their notes. The panic had nearly subsided, credit was about to be restored, and the circulation of the country was on the point of resuming its wonted channels, when the right hon. gentleman brought in his measures; and from that time the notes of the country bankers were returned so quickly upon their hands, that no prudent man would continue to press upon the public that which as often as he offered was as repeatedly rejected.

Mr. Sykes said, that the suggestion for making the country notes payable both in London and in the country, would impose the greatest hardship upon the bankers. Not only would the country bankers be under the necessity of providing double deposits, but their notes would no longer form part of the local circulation of their districts. He felt convinced that the country bankers were incapable of yielding to the impulse of such a principle as that imputed to them. Mr. Attwood said, that nothing could more clearly show the gross ignorance of his majesty's ministers, of the real state of the circulation, than what had just fallen from the right hon. Secretary, relative to country bankers. His observation was utterly at variance with their credit and character, and he was quite sure the country would think so as soon as the expression used by the right hon. gentleman found its way abroad. He would venture to say, that a degree of ignorance, almost incredible, prevailed amongst those who ought to be acquainted with the real state of the country. He did not pretend to say that, in some of the country banking establishments, an erroneous system might not have been pursued; but he denied that this was the general character of the banking system throughout the country. After what had been stated by the hon. member for Leicester, he begged to withdraw what he had said of the midland banks, as far as regarded the banks of that district.

Mr. Alderman Heygate said, that if a disposition to contract their circulation had been observable amongst the country bankers, it had not arisen from a wish to VOL. XIV.

On the contrary, whatever might have been their impression as to the policy of the course selected by ministers, as that course had been acted upon to a certain extent, they were now anxious, as far as lay in their power, to co-operate with them in pursuing it to a favourable issue.

Mr. Carus Wilson was acquainted with three country banks, whose notes were always payable at the places from whence they were issued; and this was certainly the most secure guarantee to the public, as the property and responsibility of country bankers must be better known at the places in which they reside than at a distance. For this reason he should give his cordial support to a measure which would have the effect of making country bank notes payable on demand at the places from which they were issued.

Mr. Huskisson said, that the clause he meant to propose would, he believed, meet all the objections. That clause would compel the payment of all notes under 20l. after the 5th of April, 1829, at the place where they were issued, and at such other places as the banker might please to insert. Unless they were so made payable, the banker should not have the power to issue them. If it suited the banker's purpose to have them made payable in various places, that was a consideration of considerable importance to him, but certainly they should be made payable, primarily, in the place where they were issued. As to the objection raised on account of the increased capital which would be required, that was a question for the bankers, and not for that committee.

The clause proposed by Mr. Huskisson was then agreed to.

Mr. Hume next proposed a clause, by which the public should be made acquainted, at specified periods, with the number of notes issued by the Bank of England.

The Chancellor of the Exchequer did not mean to say that some arrangement of this kind might not hereafter be advisable, but he felt considerable objection to the adoption of such a proposition now. If such a motion was agreed to, it would be leading to surmise and speculation with respect to particular banks, and such surmise and speculation would probably lead to disastrous consequences. He therefore hoped the hon. member would not press it. The clause was withdrawn.

Mr. Monck rose to move a clause, pro

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in the event of a banker's failure, have the priority of proving their debts before all other creditors; and that they should be paid 20s. in the pound before other creditors received any thing. This, he conceived, was due to the interest of the poor, who were the most likely to suffer, in consequence of their having a number of these small notes in hand.

Mr. Rickford opposed the proposition. It appeared, that some gentlemen thought the chancellor of the Exchequer had not done sufficient to injure the country bankers, and came forward, in consequence, to assist him.

The Chancellor of the Exchequer could not conceive any principle, in law or equity, which could bear out the hon. member in giving a preference to one set of creditors over another. Where was this preference, if once allowed, to stop? The clause was negatived, and the House resumed.

HOUSE OF LORDS.

Tuesday, February 28.

CORN LAWS.] Lord King said, he had a petition against the job of jobs, the Corn-laws, to present, from the city of Rochester. He thought the people in a Kentish town might justly complain of the tax; because, in the next county to Kent, the county of Calais, corn might be got for little more than half the price that it could be bought for in Kent. It was quite natural for them to wish to abolish the Corn-laws, which made this great difference. The Kentish landlords might say, that if the price were reduced one-half, the whole agricultural interest would be

sure, and then he would have an opportunity of debating the question. But he put it to his noble friend, whether, in the present state of the country, when numbers were hardly able to get bread at any price, it was consistent with good sense to instil into the minds of the people, that it was the landed interest in that and the other House of parliament, which kept up a law that tended to starve them. He hoped, whenever the question were brought before their lordships, that it would be discussed with no view to their own narrow and paltry interests, but, as indeed he was confident it would, with a view to the protection of all the interests of the country.

Lord King said, that knowing from what quarter this good advice came, he could not think of following it. His noble friend might pursue one course; but he was determined to persevere in another. His noble friend joined in the sentiments of a noble earl, who on a former night had expressed a hope that "little harangues" would not be made on this subject. Now, that might be a very good course for those who were supporters of the Corn-laws, but it was one which he could never adopt, decidedly opposed as he was to those laws. The reasons urged to induce him to abstain from those "little harangues" were precisely those which must induce him to persevere. The opponents of the Corn-laws had no chance of success, but by the subject being debated day after day. They had already been jilted on one or two occasions, when it was expected the question would be brought under consideration.

The Earl of Lauderdale said, the noble

ruined. But if, by repealing the Corn-lord must have a very different idea of de

laws, the price would be reduced one-half, which he did not believe would be the case, that only more fully exposed the folly of that act, by which the power of a great confederacy was enabled to enforce so enormous a tax on the community at large for the benefit of the landlords and parsons.

The Earl of Darnley put it to the good sense and the good nature of his noble, friend whether he thought the agitation of this delicate question, night after night, could be of any service; or whether, indeed, ❘ it could be productive of any thing but evil. If his noble friend was resolved not to follow the wise course marked out by ministers, not to agitate this topic in the

bating a question, from what he entertained, if he thought such a perpetual recurrence to it, a debate. Last session he had constantly made attacks on the bench of bishops, and seemed to suppose that was debating the Catholic question. In the same manner he had attacked the learn ed lord on the woolsack, as if he supposed that he was debating the Chancery question, while he was uttering witticisms on the lord chancellor. The noble lord must have a very strange idea of debating, if he supposed that sarcasms, or downright abuse, of the landed interest, was the best method of discussing the Corn question. The noble lord had said they wished to starve the poor; but when there was

that difference between the value of paper and gold, who was the first man to insist on his rents being paid in gold? Why, the very noble lord who now talked of the landed interest starving the people. The noble lord sometimes talked of the restriction of the Bank, but who was the principal author of that restriction?

The Duke of Athol said, that the noble lord had lately presented a similar petition from the weavers of Perth, who, a few years ago, in a time of general distress, were principally supported by the landed interest. Not less than 1,500 of them were maintained entirely at the expense of the landed proprietors, and he had in his possession a letter expressing their grateful thanks for the succour afforded to them. The petition which they had intrusted to the noble lord was a poor return for so much kindness on the part of the landed interest. The noble lord endeavoured to irritate the poor against the landed interest, and in doing this, he seemed to be guided neither by wisdom nor good sense, nor gentlemanly conduct. Such attacks were derogatory to the dignity of their lordships. He pledged himself, whenever the question was brought forward, to examine it without any regard to individual interest, but solely with a view to its effects on the interests of the whole kingdom.

ceived in a popular assembly. On account of its absurdity, he had resolved to put it to the test, and he gave notice to his tenants, within one month after that declaration appeared, that he would receive nothing but gold in payment of his rent. The government was then forced to adopt a measure introduced into that House, and as they could not convince the country that paper was equivalent to gold, they made a law to prevent all payments in gold. He had neither hurt, nor wished to hurt, any person by that measure, which he had only adopted as a test of the accuracy of the chancellor of the Exchequer's resolution. He had at the time explained his conduct in that House, and made as good a defence as he could. He thought the noble earl had a little overcharged what he had said about debating, as he did not suppose that his "little harangues," as the noble earl called them, were debates. He must also deny, that he had ever stated that the landed interest starved the poor. He never had stated any such thing. ("You called it the job of jobs," from the earl of Limerick]. He had no doubt done so, and he believed it the greatest job that ever was.

The Earl of Limerick, recommended the noble lord, for his own sake, not to repeat the same story every day, or, like the parrots, it might happen not to attract attention.

Ordered to lie on the table.

HOUSE OF COMMONS.

Tuesday, February 28. SLAVERY.] Numerous petitions were presented, praying for the Abolition of

Lord King said, that he should always tell the truth, whether it were agreeable to the noble duke or not. As to the petition from Perth, he knew nothing more of it than that it was put into his hands to present to their lordships; but if the noble duke had formerly 1,500 weavers to subsist, he was likely, under the present system, to have 3000 next year. A noble earl had implied, that he had been the cause of the | Slavery. Bank Restriction act; but, in this the noble earl had made a strange mistake, for the Bank Restriction act was passed in 1797, and the transaction to which he alluded did not take place till 1811. The noble earl might have learned the reason for his conduct, if he had turned to a noble lord (Bexley) a few paces on his left hand. On a certain day in June, in that year, the then chancellor of the Exchequer had placed a resolution on the Journals of the House of Commons, de-prominent part among those who were

claring that the paper circulation of the country and gold were equivalent in value. He was astonished how so absurd, so contemptible a statement, could have been made by any man, and still more astonished that it should have been gravely re

Lord Palmerston, on presenting one from the University of Cambridge, said, that the petitioners highly approved of the resolutions passed by that House in 1823, and the zeal with which the government had acted in endeavouring to carry the object into effect. He was glad to have the honour of presenting this petition. It could not but be gratifying to all those who wished well to the cause, to see the University of Cambridge taking a desirous of putting an end, in a gradual and practical manner, to negro slavery in the colonies. It would have been strange if it had been otherwise among those who were to prepare, and those who were to become future legislators of Great Britain.

It would have been strange, if they had not felt the impropriety of the continuation of a state of things so contrary to the principles of the British constitution. It would have been strange if those who had the charge of preparing the ministers of our religion had not felt adverse to a condition of society so contrary to the spirit of the Christian religion. He would not enter into details upon a subject which was so soon to come more formally before them, and had only to express his decided concurrence in the prayer of the petition. The House had done much when it had abolished the traffic in slaves; but having abolished it, they were not to rest there. They had the further duty to perform, of proceeding to lay the foundation of the gradual extinction of negro slavery. Noman ❘ thought that, in the present state of the West Indies, slavery could be at once abolished. Such a sudden abolition, besides the sacrifice of other interests, would be most injurious to the negroes themselves. But if the resolution of 1823 were steadily carried into effect, the gradual abolition would take place. It was a matter of great regret, that the colonial legislatures should have shown such a disposition to resist the operation of those resolutions. But, if so humble an individual as himself might offer an opinion, he would state to the colonists that there appeared at present, in this country, a strong feeling to deal tenderly with their interests, and that they ought to take advantage of that feeling while it lasted. It was in vain for them to think that, however they might retard, they could ultimately defeat a measure supported by the concurrent sentiments of the people of Great Britain. If they persevered in their resistance, they might raise against themselves such a storm of public opinion as no prudent man would wish to encounter.

Ordered to be printed.

MILITARY DISCIPLINE-TENTH HUSSARS.] Sir F. Burdett said, he was anxious to put a question relative to a subject of considerable importance. He wished to inquire whether the attention of the commander-in-chief had been called to a very extraordinary statement, relative to the treatment experienced by a soldier in Exeter, and which, if true, would demand an immediate inquiry.

Mr. Peel replied, that as he happened to be in possession of some information on the subject, he would communicate it to

the House. He had inquired from sir H. Taylor, secretary to the commander-inchief, whether the attention of that illustrious person had been called to the subject; and he was informed, that his royal highness, on being made acquainted with the statement, directed an immediate inquiry; and he had every reason to believe that the statement, in all its parts, was greatly exaggerated, and in many particulars wholly unfounded. But, at all events, an immediate inquiry had been set on foot.

Sir H. Vivian said, that the statement was, to a great extent, exaggerated. An offer was made to the officer concerned, that the columns of a newspaper would be open to his refutation of the statement; but he replied, that he did not think it worth his while to reply to any thing that might appear in a newspaper, but would assist the investigation which the commander-in-chief had directed. The lieutenant-colonel was accordingly sent down to Exeter, and an inquiry would be immediately instituted. Knowing the prejudice which last year had been excited against that regiment most unjustly, he was disposed to think the statement was greatly exaggerated. He verily believed, that so far from there being any foundation for blame against the commanding officer, the transaction arose entirely from the strong inclination which he felt to avoid the infliction of corporal punishment, and which induced him to resort to severe drills and other punishments as substitutes.

COMMERCIAL DISTRESS.] Mr. Thomas Wilson being loudly called on by the House, said, that before he proceeded with the motion of which he had given notice, for a select committee to inquire into the present distresses of the commercial world, he wished to know from the chancellor of the Exchequer, whether any thing had occurred, in the course of the day, to render it necessary for him to make a communication to the House?

The Chancellor of the Exchequer said, that in answer to the appeal which had been made to him by the hon. member for the city of London, he had to state to the House, that a communication had taken place between his majesty's Government and the Bank, for the purpose of ascertaining how far that body would be disposed to extend relief to the existing depression in the trading, commercial, and manufacturing interests of the country, by such a departure from their ordinary rules and practice as would be involved in the principle of advancing money on the security of goods. And in answer to that communication, he was able to state, that the Bank had expressed their acquiescence in the principle, and had now under their consideration the best means of giving effect to such intention.

Mr. T. Wilson said, after what had fallen from the chancellor of the Exchequer, it would only be necessary for him to make a very few observations; although he thought the right hon. gentleman might have gone further. It was of the highest importance, that if any thing more was intended, it should be perfectly understood, and that the House should be rightly informed on the subject. What he understood to be the case was, that a communication had been made, that there was no disinclination to the proposition on the part of the Bank, and that that body would make an advance of three millions of money, upon goods, on the understanding that the government would bring forward some measure to bear them harmless, and afford some facilities in regard to their issues until October. If this was the nature of the arrangement, he should hail it with the utmost satisfaction.

The Chancellor of the Exchequer said, that, before that motion was acceded to, he was desirous to reply more specifically to the points adverted to by the hon. member for London. He had before stated, that the question was under the consideration of the Bank, as to the best mode of extending aid to remove the present distresses of the country. He had now to state, that it was the intention of the Bank to carry their advances to a point not exceeding three millions. They would not, of course, be bound to go to that extent, but that was the utmost limit to which they would feel themselves justified in advancing. It was stated to the Bank, that it was the intention of government to propose to parliament, in the course of the session, a measure by which a considerable portion of the advances made by the Bank to Government would be paid off; and he had now further to add, that his right hon. friend, the president of the Board of Trade, meant to submit to parliament the propriety of accelerating the period at which the measure he had introduced last session, relative to the law of Merchant and Factor, should come into operation. His right hon. friend would do so for the purpose of effecting the objects which the House had in view when that measure was sub

The Bank had done themselves honour to ❘mitted to their consideration, and of faci

a degree, far beyond his powers of description; but he was unable to express the same sentiment towards his majesty's government. They had allowed the distresses of the country to proceed to too great an extent, and they were quite culpable in allowing such a state of things to exist from week to week, without adopting some measure of relief. However, he was happy that an arrangement had been come to; and if the proposed relief would have the effect of invigorating trade, and restoring public credit, he should not be fastidious as to the mode; although he was convinced that the measure proposed was not the best way of affording relief. But he hoped the advance of three millions would produce very general good. The country was much indebted to the Bank for using their best efforts to diminish the present alarming distress. The relief would not apply to the merchants of London merely, but to the commercial and manufacturing interests of the country. The Bank had done their duty nobly, and he should therefore ask for leave to withdraw the motion of which he had given notice.

litating the purpose which they now had in view. It was only at a late period of the day that he had been made acquainted with what the Bank had proposed to do; it was, therefore, impossible he could have communicated it earlier. Under these circumstances, he thought the hon. member for London would be acting a prudent part in withdrawing his motion.

Mr. Pearse thought it necessary to set the House right as to the communication which had been made. The Bank was strongly of opinion, that the other mode of relieving the distress of the country would be much preferable to that now under consideration; but being most desirous to meet the present difficulties of the country, they had consented to waive their own opinions. He was sanguine in his expectations that so much money would not be required. Confidence was the great thing to be established; and he was satisfied that confidence would be restored even by the knowledge that something was about to be done.

Mr. Ellice was desirous to know whether it was in contemplation to extend

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