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prize of every port in the United King- | his motion, he should be perfectly_ready dom, which they humbly conceive might to state the grounds on which he deemed lead, in no small degree, to relieve our it his duty to oppose the production of commerce in its present calamitous cir- the documents, and to state such circumcumstances; and praying, that no exclu- stances of the transaction as had induced sive grant may henceforth be given of the him to form such a conclusion. He was trade to any of the countries to the East-ready to meet the noble baron on the ward of the Cape of Good Hope, but that the House will adopt such measures as that the commerce with those countries may be extended to every port in the United Kingdom willing to enjoy it." Ordered to lie upon the table.

HOUSE OF LORDS.

Friday, May 1.;

subject on any day; to that specified he had no objection, as there was no intention of opposing the intended motion of referring the Petitions against the Orders in Council to a committee of the whole House.

The Earl of Lauderdale observed, that as it was intended to grant the committee, there ought to be some understanding as to what time it was likely to occupy the House; or whether they were to sit de die in diem, or in what other way.

The Earl of Liverpool assented to the propriety of having some understanding as to the days, or hours in each day, that should be allotted to the enquiry. He had no objection to go into the committee on Tuesday, but as that might not be convenient he would mention Thursday.

BANK OF IRELAND.] Lord Holland rose to ask, whether it was the intention of the noble lord at the head of the Board of Trade, to lay any papers upon the table respecting the issue of notes by the bank of Ireland, those relative to the bank of England being already before the House, and the Gold Coin Bill which stood for a committee this night being now extended to Ireland?

CAPTAIN HENRY'S SECRET MISSION TO The United STATES.] Lord Holland adverted to the notice he had given for the production of the Correspondence relative to the Mission of captain Henry, and observed, that he had conceived that ministers, if they were not themselves solicitous to lay the correspondence upon the table, would at least not oppose a motion for the production of it. Since he came into the House, however, he had heard with considerable surprise that it was their intention to oppose the motion: he was the more surprised at this, it being a subject in which the public took a deep interest, and respecting which it appeared essen tial to ministers themselves to produce the correspondence. His motion would be for copies of the correspondence between sir James Craig and the Secretary of State, relative to the mission of captain Henry, the correspondence with sir George Prevost relative to the same subject, and the letters from the Secretary of State to sir George Prevost, relative to the compensation claimed by captain Henry. As this motion was, he now understood, to be opposed, he should not bring it forward to night, other business standing for discussion, but should fix it for Tuesday. On the latter day, a motion of a noble friend of his also stood for a committee of the whole House, to enquire respecting the distresses of the manufacturers, in conse- The Earl of Liverpool had no objection quence of the operation of the Orders in to the production of information respectCouncil; but as the committee had beening the bank of Ireland, but could not granted in another place, he could not conceive that it would be opposed here, in which case his noble friend's motion would not be debated, and his own would stand.

The Earl of Liverpool said, that whenever the noble baron should bring forward

Earl Bathurst said, he had no intention to lay any papers of that description upon the table, but noble lords on the other side might have moved for them two months ago, and he should not have objected to their production.

Lord King observed upon the necessity of having information on the subject before they came to the discussion, which was now for the first time extended to Ireland, where the sale of guineas, and the discount of Bank-notes, had been legalized.

consent to delay the Bill for the purpose of waiting for the information. The only reason for not extending the Bill to Ireland last session, was the absence of the Irish members.

The Earl of Lauderdale contended on the contrary, that the difference in the si

tuation of Ireland compared with this country had been distinctly stated, as the reason for not extending the Bill to that part of the United Kingdom.

Lord Holland concluded the conversation, by making a motion, for an account of notes issued by the bank of Ireland, which was agreed to.

BANK OF ENGland-CurrenCY OF THE COUNTRY.] The Earl of Lauderdale rose to bring forward the motion of which he had given notice, relative to the state of the Currency of the Country, &c.; observing, that however important were the subjects of the Orders in Council and the East India Trade, yet in his mind they sunk to almost nothing in comparison with the consideration of the currency of the country, and the power given to the bank of England. It had heretofore been the prerogative of the crown to regulate the currency of the country, but now that prerogative was delegated to twenty-four merchants, the directors of a banking company, who had the power of increas ing or diminishing it at their pleasure; a power, too, which was vested in men representing the body of proprietors of the bank of England, whose interests were at direct variance with those of the public. It was the interest of the Bank proprietors that the issue of Bank notes should be increased, because thereby their profits were increased, whilst it was the directly contrary interest of the public, that there should not be an excessive issue of Bank notes. It was true, that there appeared a trifling decrease of the amount of Bank notes, but if the amount of Silver Tokens issued by the Bank were taken into the account, it would appear that there was no decrease. It was not merely, however, the increase of bank of England notes that they had to consider, but the immense in crease of notes throughout the country. The number of issuers of notes had, since 1797, been increased from 1250 to 1800, and the inconvenience resulting therefrom, was great beyond what their lordships had probably any idea of. Many of these country banks were situated in obscure villages, their notes being only payable there. When the notes of one of these banks invaded the circulating district of another bank, and were taken there, they were sent back in amount, and a draft on London given for the differences. This was the regular course; but the fact was, that many banking houses in the country

were obliged to employ agents at the posttowns, to obtain payment of the notes of other banks which they had taken, and those agents were sometimes three weeks before they could obtain payment, Even this, however, was not the extent of the evil-paper tokens were issued in the country for small sums, so low as half a crown. The noble earl produced two of these half-c crown tokens, issued at Worcester-one of yellow paper, and the other red; and another issued at Fakenham, in Norfolk. Such a debased circulation as this bad, he contended, never been witnessed in any country, without being the forerunner of some great change or revolution. With respect to the notes of the bank of Eng. land, they had formerly been issued, either to purchase bullion for discount, or to ac. commodate government. It would not now be contended that any were issued to purchase bullion. Let it then be considered what an enormous profit the Bank were making by the issue of their notes, Formerly they would not discount for any country bank who issued notes, but now every country banker, through his agent in town, might discount at the Bank, and thus be enabled to issue his own notes through the means of the discount obtain, ed at the bank of England. Putting the case also of their discounting 1,000l. for a merchant, to enable him to pay duties at the customs, the notes passed into the hands of the receiver general of the customs, by whom they were deposited at the Bank; and thus the Bank had a profit of five per cent, on the money, whilst deposited. It was, therefore, of essential importance that they should have information as to the state of the deposit accounts at the Bank. The noble earl, after recapitulating the evils which arose from the system of paper currency, concluded by moving for a Committee of the whole House, to enquire into the state of the metallic and paper currency throughout the country, the transactions of the bank of England since 1797, and other matters connected with the subject.

Earl Bathurst thought that all the requisite information upon this subject had already been laid before the House, and that it could be of no use to go into the enquiry proposed by the noble earl. As to the ob jection that the interest of the Bank proprietors and that of the public were at variance, he contended, that however it might be for the interest of the Bank proprietors for a short time to exceed the

usual issue of Bank notes, yet that the evil of that excess would recoil upon themselves, and that their well-understood in terest in limiting the issue of Bank notes, was, in fact, the same as that of the public. As to the tokens issued by the Bank, be contended, that they could not be at all classed with Bank notes, they being merely issued for the purpose of small change.

The Marquis of Lansdowne expressed his concurrence in the propriety of the proposed enquiry. He supported the argument of his noble friend, that the Bank proprietors had an interest distinct from that of the public; and argued, that, by the proposed Bill, the prerogative of the crown, to stamp the currency of the realm, and limit or extend its quantity, was placed in the hands of the Bank directors. When The saw a body of twenty-four men invested with such authority; when he felt that they must be divided between their duty to the public and to the individuals whom they represented, he thought the motion ought to be agreed to. He was not one of those who thought that the former sound system of cash circulation could be suddenly reverted to without risking a dangerous convulsion; but he did think that every means ought to be adopted that they might gradually return to that sound and healthful system, and in this view he supported the motion of his noble friend, in order that they might have before them the requisite information to guide their conduct, particularly under the new relations between government and the Bank, by which the latter bad the power of regulating the circulation at their pleasurethe controul of government being necessarily weakened by the large unfunded debt which they were only enabled to keep outstanding by the aid of the Bank circulation.

Viscount Sidmouth said, that whatever relation subsisted between the bank of England and the government at present, had existed since the year 1797; it was, therefore, rather singular, to introduce it now as a matter of novelty. The immense profits made by the proprietors of Bank stock had been frequently descanted upon. But on a fair examination of facts, it would be found, that, in 1799; they shared 7 per cent. interest and 10 per cent. bonus; but that, when the renewal of their charter took place in 1800, they commuted the "bonus for a rise of 3 per cent. interest, making in the whole 10 per cent. which they still retained, being 7 per cent. less

than the year preceding the renewal of their charter. He thought it unnecessary to go into an enquiry. It had been stated to their lordships, that Bank notes were intended to be made a legal tender; he denied that such a proposition was intended; it only went to give security against arrest, but did not apply to execuIf it was a measure to operate on any foreign warfare, he might, even in that instance, be of opinion that the Bill should be carried through the House, and that the country required it; for the least opposition to the measure might cause what their lordships, perhaps, might ever after regret.

tions.

The Earl of Rosslyn was at a loss to know what there was in the charter of the bank of England to prevent them from paying their lawful debts. He agreed that the proposed Bill did not go the length of making Bank notes a legal tender; but it had this effect-when a creditor sued a debtor, he might make his tender in Bank notes, which would be allowed by the court, and the creditor would be liable to the costs of court. It ought to have been shewn by the noble lords, that the interest of the Bank and that of the public was the same; instead of which, they had proved them to be diametrically opposite. He would agree, that the Bank had a right to discount Exchequer bills; but the question was, whether the Bank had a right to go to such an extent as to cause a depreciation of bullion by issuing notes to their own advantage, without any new pledge to the public? They had been told of the watch government had over it: but instead of a guard, he would only call it a connivance, to answer their own purpose. Looking to Ireland, he thought it was in great danger, for the Bill would do away with all agreements which were made before this measure was contemplated. The noble lord on the woolsack was not ignorant, that, in Cumberland, the rent was paid in tithes, and wheat was, at this time, ten times the price it had been when the leases were granted. In Ireland, the landlord agreed for gold, and had a right to have his contract fulfilled; and were they to be frustrated by the Bank being subservient to the administration? It had been stated by the noble viscount, that in the year 1799, the Bank was richer than at any other period, on account of the proprietors having received a greater bonus. But he would ask his Majesty's ministers whether they would be willing to take the income

tax of the Bank on the return they made that year? He was confident they would not; for the noble lord on the woolsack, instead of accepting of it for the minors to whom he was guardian, as lord chancellor, vested it in the 3 per cents. Under every circumstance, he would give his decided vote for going into the enquiry. The question was then put and nega tived.

HOUSE OF COMMONS.

Friday, May 1.

PETITION FROM BRIDLINGTON RESPECTING THE RENEWAL OF THE EAST INDIA COMPANY'S CHARTER.] Mr. Wilberforce presented a Petition from the merchants, ship owners, and other inhabitants of Bridlington, in the East Riding of the county of York; setting forth,

"That the approaching expiration of the East India Company's charter having occupied the attention of the House, the petitioners beg leave respectfully to state their hopes and wishes on that important subject; and that the petitioners are fully persuaded that if the trade to the British dominions in India, and to the immense and populous countries included in the charter, were laid open to the skill, industry and capital of private merchants, it would be conducted with a degree of energy and economy which a large public body is incapable of exercising; new channels of commerce would be discovered, the consumption of our manufactures extended, and our shipping increased, to the advantage of the parties concerned, and the permanent augmentation of the wealth, power and resources of the British empire; and that the extensive and flourishing commerce of the United States of America with India and the Chinese empire exhibits a proof that these expectations of advantage, from the exertions of private individuals, are not unfounded; and that the petitioners beg leave respectfully to represent, that any partial modification of the trade would, in their opinion, fall extremely short of those advantages which would accrue from the total abolition of the existing monopoly; and they do therefore humbly and earnestly deprecate any continuation of the Company's exclusive privilege to the commerce with China; they conceive that the British character forbids the injurious suspicion that their intercourse with the Chinese would be disturbed by a conduct deficient

in discretion or propriety, whilst the Americans and other nations have maintained a similar intercourse without interruption; they also think that no greater necessity for a monopoly exists with a view to secure the duties on tea than those on sugar, rum, or any other highly taxed article of importation; and they trust that no reason can be found, either in justice or policy, for the exclusion of the outports from the benefit of the trade with India; and the petitioners also hope, that the House will not impose any restraint on the British merchant respecting the burthen of any vessel to be employed in the trade, but leave the choice to his own judgment and discretion; and that the commercial distresses which the petitioners have, in common with the rest of the kingdom, experienced from the enormous power and influence of the enemy on the continent of Europe, furnish abundant reasons for applying to the House, with earnestness and with confidence, for the purpose of opening new channels of intercourse with those distant regions, where the success of his Majesty's arms, by sea and by land, has established British dominion on a permanent basis, and has secured British commerce against all danger of hostile interference; and praying the House to adopt such measures, as to their wisdom shall seem meet, for granting to all his Majes ty's subjects, from and after the expiration of the East India Company's charter, a free trade to and from India and its dependencies, and to and from the empire of China."

PETITION FROM THE CALENDERERS OF LONDON RESPECTING THE Renewal of the EAST INDIA COMPANY'S CHARTER.] A Petition of several Setters and Calenderers of London, employed by the East India Company, was also presented and read; setting forth,

"That the petitioners are informed that numerous applications have been made from various parts of the kingdom, praying that the trade to the East Indies and China may be laid open to the public at large; and that the petitioners, in common with a great number of his Majesty's subjects residing in and near the city of London, derive their sole support from the trade which is there carried on by the East India Company; and that it is by the most strict attention to the various regulations which ensure the superior exe cution of the different operations on the

East India Company's exports, that the confidence with which they are received by the consumers bas been established; and that the petitioners have, expended large sums of money in forming establishments suitable to those regulations in the different departments of the woollen trade, which they respectively exercise, all which, in the event of the dispersion of the East India Company's trade, must be dismantled, to the great injury of the freehold proprietor, and to the ruin of the petitioners, who would have no other means of employing their knowledge of that branch of the business to which they have been so long accustomed; and that the situation of the workmen employed by the petitioners, amounting to some hundreds, would be in the highest degree distressing, as they would be found equally incapable of adapting their habits to new modes of business, and consequently both they and their families would be deprived of the means of subsistence; and praying, that the House will take these circumstances into their most serious consideration, and by their wisdom prevent the dreadful consequences that are likely to ensue to the petitioners."

Ordered to lie upon the table.

BARRACK ESTIMATES.] On the motion for taking into further consideration the Report of the Committee of Supply, comprehending the Barrack Estimates,

Mr. Fremantle rose for the purpose of opposing it. There was nothing in the estimates to justify the House in granting the sums there named. There were three barracks to be erected, one in Marylebone, one in Bristol, and one in Liverpool. To begin with perhaps the least objectionable of these three plans, that of erecting cavalry barracks at Liverpool; these barracks were intended to contain 1,000 men, and the expence had been estimated at 82,000l. No less than 30 acres of ground at St. Domingo, near Liverpool, had been purchased for these barracks. Ground too, that had many buildings upon it. The expence of this purchase amounted to 27,000l. He contended, that the lot of ground was much larger than was neces sary for a barrack for 1,090 men, and that a scite in every respect as eligible as the one selected, might have been had at a price considerably less. The Petition on the table from so many respectable inhabitants of Liverpool, against the erection of those barracks on this particular ground, (VOL. XXII.)

claimed the particular consideration of the House. He understood that colonel Dyer, a gentleman sent down to examine the situation fixed upon, had pronounced other situations in every way as eligible. He stated also, that he had understood that government might have had towards the north of the town, from lord Darnley, as much ground as they had paid 27,000l. for, for only 6,000l. The barracks at Bristol were intended for 800 men, aud were to cost 60,000l. There was no reason assigned for these new barracks, but that of prisoners being kept at Bristol, as if that was peculiar to Bristol, or as if there were not many towns where prisoners were kept, and yet where there were no barracks. Besides, so far back as 1803, government had had some intention of erecting barracks there, but upon mature consideration had abandoned it. But the plan of erecting barracks in Marylebone, he thought of all the others the most seriously objectionable; they were called upon to vote a sum of 133,500l. for cavalry barracks for 450 men. Hitherto the 2nd regiment of horse guards had been reckoned at 416 men, but in this estimate they had been increased to 450. But this was not the whole, there were also artillery barracks, magazines, ordnance stores in contemplation. He affirmed that plans of such had been confidentially spoken of, and that as the House could not be ignorant of them, they would by voting this estimate be pledged to follow up the remaining plans, no matter what the expence. This was evident from the great extent of the ground, not less than 27 acres in the heart of the metropolis. It was a most serious matter, to consider whether they would give go. vernment the power to raise a military depôt, in such a city as London, a sort of Prætorian camp that could not but be hostile to the feelings of the people, and might eventually be dangerous to their liberties! It was equally objectionable on the ground of expence, ground near Marylebone would sell for 35 years purchase, this would make an addition of 35 or 40,000l. to the estimate, making the whole expence of purchase and building amount to about 170,000l. which would be at the rate of 400l. for every man and horse, besides the mere wall of enclosure would cost 4 or 5,000l. and the gravelling the ground would cost 8,000l. The cavalry barracks in Hyde Park, built in the years 1792-3, cost 52,2471. Exeter barracks for 215 men, cost only 29,6231. Dorchester bar(4 D)

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