currency, as far as it was developed, had his approbation; but he thought that the suggestion thrown out last night by the hon. member for Taunton, deserved serious consideration. The making silver a standard as well as gold had been held objectionable, upon the ground of the variations to which silver would be subject; but if there was a probability of remedying that difficulty, he thought the plan merited full discussion. The hon. gentleman sat down by giving notice, that at an early day he should bring the Corn laws before the notice of the House.

bring it with him; but he stated the sub-posed to be made in the system of our stance of it, which was, that the subscribers absolved Mr. Brogden and Mr. Bent from all corrupt participation in the monies of the company; that the sums particularly specified, which were indeed placed in their hands, were not improperly received by them; and requested that those gentlemen would continue in the direction. Being thus absolved, he trusted that the confidence of the House would not be withdrawn from him. He courted inquiry and publicity. There was nothing he wished so much as to have his conduct fully and completely investigated, and were it not beneath the dignity of that House, he would wish that he might have an opportunity of going before a committee into those details, and producing that evidence, by which he could, beyond the possibility of question, put to shame his

accusers.

ADDRESS ON THE KING'S SPEECH AT THE OPENING OF THE SESSION. On the motion for bringing up the report of the Address on the King's Speech,

Mr. Whitmore took occasion to regret, that the question of the Corn-laws was not to be brought forward by ministers in the present session. He had much confidence in the sincerity and good intentions of government; but, looking at that question as the one which must form the groundwork of every thing like a system of free trade, he could not help fearing that some unfortunate influence was operating to postpone its discussion. So satisfied was he, that without a proper settlement of the corn question, all attempts to keep up a scheme of free trade must be ineffectual, as ministers did not mean to bring it forward, he should feel it his duty to bring it on himself. He regretted thus to undertake a task which he had hoped to see performed by abler hands; particularly as government stood, in a great degree, pledged to the discussion of the subject. He was glad to hear the gentlemen opposite declare, that the present distresses (which he trusted would be transitory) would make no difference in the views which they had acted upon during the last session. The stoppage in the silk trade arose, in a great degree, from the apprehension of the masters as to the effects of the new measures; which apprehensions would be entirely removed when those measures came into full operation. The change which was pro

Sir Charles Forbes applied himself to that part of the Speech which touched upon the affairs of India; and reminded the House, that the observations of the hon. member for Montrose, on the preceding evening, were unanswered. He concurred with that hon. member as to the rise and progress of the war in India, and trusted that what he had said would have due weight with the House. The state in which we were now placed as to India was extremely critical, and he thought that upon the Burmese war there could be but one opinion; namely, that it ought to be ended as speedily as possible. The war had now lasted two years. It had assumed the character of a war of extermination. We might force our way, by the blood and valour of our soldiers, to the Burmese capital; but when we got there, we should be no nearer a termination of the contest than before. Speech of last session had told the House, that none of the other native powers of India were inimically disposed towards us. The Speech delivered from the throne this session did not venture to tell us so much. If, as he contended, the country had involved itself in an unjust and dangerous war, the best way to escape would be by retracing their steps. He regretted that the wishes of the country had not been complied with by the recal of lord Amherst, a nobleman who, however amiable his private character, was evidently incompetent to discharge the high duties of governor-general of India. If we did not adopt different measures, we must make up our minds to lose India.

The

Mr. Curwen said, that the manufacturers were grossly mistaken, if they attributed any part of their distress to the operation of the Corn laws. If rightly understood, they would be found to be highly beneficial to the commercial interests of the country.

Mr. Wynn said, he had not replied to | His way of looking at it was, to consider the hon. member for Aberdeen's observa- it as the declaration of ministers. He tions on the subject of India on the pre- entirely agreed with the chancellor of the ceding evening, because he thought the Exchequer, that the king's ministers were whole matter an episode to the general bound to take notice of the public emdiscussion, and because he knew the hon. barrassments. They could not blink them. gentleman too well to have any apprehen- It was their duty to meet them manfully, sion that he would be long without speak- and to set about finding a remedy. Acing upon the subject a second time. The cordingly, in the first paragraph of the right hon. gentleman then proceeded to Speech, the distress was announced, and defend both the principle and the conduct a remedy was suggested. He hoped that of the Burmese war; and declared, that confidence would be restored; for the rethe declaration of lord Amherst was fully turn of confidence would in itself be a borne out by all facts. Could any one powerful remedy. There could be no deny, not merely that actual aggression doubt of the resources of the country. had been committed against us by the All that was wanting to bring them into Burmese, but that a disposition to the com- successful play, was the return of confi mission of such aggression had for a long dence. But, the omission of which he time been manifested? As for the con- complained in the Speech from the throne duct of our troops, and the success of our was, that it contained no reference to the arms, who could impeach either? If an affairs of Ireland. They were given to enemy constantly flying before us, did not understand, that the exertions of his mabear testimony to the valour of our troops, jesty were unceasing to unite in lasting he did not know what the hon. gentleman amity and concord all the nations of the would desire. As for any unfriendly dis-earth. He applauded that disposition: position among the native powers of India towards us, he denied its existence. It was true that our army, or a portion of it, had suffered severely from sickness. This did not arise, however, from any peculiarity in the climate, but from those causes which must always, in a greater or less degree, attend upon campaigns in India. By the last accounts, however, the sickness was diminishing; and by the next, he had hopes that it would be found lessened in a still greater degree. He had not the slightest doubt that the valour of our soldiers, and the ability of their leaders, would bring the contest to an honourable and fortunate conclusion. He should hear of such a termination with as much pleasure as any man. But though it was our policy to avoid war as long as it could safely be avoided, it was impossible for us to overlook insults, or to shrink from entering into a contest, where it was obstinately presented to us.

Mr. Hutchinson denied that his hon. friend had insinuated any thing against our troops in India, he had only lamented, that those troops were put in a situation where, instead of coming in contact with the enemy, they encountered contagion. Many individuals acquainted with India, and sensible of the imminent danger of a war there, were far from being convinced of the necessity of the present contest. For himself, he discovered a culpable omission in the Speech from the throne.

it was wise, it was humane. But, then, it would have gladdened him to hear of exertions to do for Ireland that which was so anxiously attempted on behalf of all other nations. He had hoped to have heard of some attempts to secure peace and concord for his native country. A pledge of that nature given at the beginning of a session would have been most satisfactory to the people of Ireland. It was very true, that some indications of a favourable change were perceivable. He rejoiced to see it. He believed that there was a general tranquillity at present, as well as increasing industry; and, perhaps, they might indulge a hope of returning prosperity. But they were without a proper assurance of the continuance of that tranquillity. On many points of the national policy, there was a ruling spirit seen to prevail in the cabinet with respect to the state of Ireland, it was not so. Now, how were the people of Ireland to be secured in the enjoyment of their present tranquillity, unless they saw a ruling spirit in the cabinet ready at all times to exert itself for their relief? And how could they feel this, while on every page of the Statute-book they could read the causes of their degradation, while nothing was attempted to remove their oppressions? Could this state of things continue? We were at present on good terms with France. We had no jealousy of her growing greatness, though she was

moving forward in a splendid career. She was a great military power. She was increasing in resources, and was no less considerable now than she had shown herself under Napoleon. Her trade was prosperous, and her revenues so abundant, that the government was about to reduce nineteen millions of taxes. We might not remain on terms so pacific as at present, and those resources might be turned against us, as they had been by her former master. Should that period ever arrive, this country ought to be in a situation which would render all her power available. But that could not be with respect to Ireland, unless means were applied to include her in the general system of amity and co-operation. Approving of much of the Speech, he had thought it necessary to say thus much on behalf of Ireland, as there seemed to be little wanting to entitle ministers to the support of all parties. but the extension of their own principles to the interests of that country.

increased by the addition of every new partner to the concern, which must be answerable for every imprudent member who might happen to join the firm? The law maxim "testes ponderentur non noumerentur," was equally applicable to bankers. It was not their wealth, nor their probity, which could give the proper security. Had he to choose a person with whom to confide the management of his affairs, he would not be guided merely by the integrity of the individual, but by his firmness, his acquaintance with the world, and his accurate knowledge of mankind. Ask practical men as to the causes of the late failures, and he would venture to say, that they would agree that the greater part of those cases were attributable, not to deficient property or want of moral character in the parties, but to want of firmness, skill, and general knowledge of the world. The securities which were likely to be proposed would bring no relief to those cases. Lands could not be Mr. Lockhart said, he did not feel so easily made available to the purposes of much apprehension as had been express- such securities. Another objection to ed by many hon. members, at the late taking an increase of the number of partagitations in the commercial affairs of the ners as a ground of security was, that country, because he considered occasional it was likely to have a contrary effect, paroxysms of that nature as inseparable and to gather into a firm a number of from the enlarged and growing bulk of specious and designing individuals, who the trade and resources of this great nation. would be mistaken for an opulent body of He could not agree in attributing any of men, until their schemes should prove by the distress which had prevailed to the their failure how undeserving they had Bank of England, though he was not pre- been of public credit. He approved of pared to oppose the measures which were much that had been advanced on this to be proposed for opening the traffic to subject by the hon. member for Taunton, other adventurers. He did not see the whose knowledge of the subject entitled reasons which limited the Bank of Eng- his opinions to great respect. His hon. land to a radius of exactly 65 miles. As friend had pointed out the glaring defect to improving the business of banking by of such supposed securities, and had dienlarging the number of persons in the rected the attention of the House to the firm, though the existing law limited them practice in France, where private indi to six, it was seldom that a country bank-viduals might invest small sums in banks, ing establishment contained so many part- without rendering themselves liable beners as the law allowed. He really beyond the amount of those small sums. In lieved that the average did not exceed three to a firm of all the establishments which existed. But suppose an alteration of the law should enable bankers to enlarge the numbers of the firm, were they sure that persons of property would come in, and, by placing all their disposable funds in a bank, subject themselves to the hazards of trade, and the probable visitation of the bankrupt laws? It was clear to him that they would not. And then, would that bring the public the security so much desired? On the contrary, would not the chances of insolvency be

this practice, the public had a full and sufficient security. Many gentlemen would have no objection to embark portions of their property thus far, though they would feel a repugnance to subject themselves to the possibility of a commission of bankruptcy.

Sir T. Lethbridge said, he thought it was rather premature to discuss a measure before its details were known. His Majesty's Speech was, in his opinion, calculated to do great good. It expressed the determination of ministers to take the subject into their hands, and to bring it

this country, free from all risk to the purchaser, any quantity of silk goods. The establishment of Joint-stock banks, such as were recently set on foot in Ireland, and had been found so beneficial in Scotland, would be the most certain mode of fixing the currency; which, under the present system, was in a state of constant fluctuation, making prices high on one day, and low on the next. He believed, that the absorption of the one and two pound notes would lead to great inconvenience. These small notes were, for the most part, in the hands of the poorer people, for whom the legislature ought to be anxious; but if these small notes were taken away, how were these people to be paid?

Mr. Hume was astonished to hear the doctrines which had been broached by the hon. baronet. If the views of the hon. baronet were correct, the currency of the country was always regulated by the Corn laws. As well might he have contended, that the monopoly of the tea trade enjoyed by the East India company, or that any other monopoly, had such an influence on it.

Sir T. Lethbridge.-I said that the Corn laws were closely allied to the state of the currency.

openly and candidly before parliament. Such a promise could not fail to allay the existing ferment, and restore confidence. He differed from the hon. member for Bridgenorth, who had attached blame to ministers for not taking up the subject of the Corn laws, and originating some measure with respect to them. He thought that resolution entitled to the greatest praise. The question of the Corn laws was the most intricate, and important of any which could be agitated. It was clearly improper to bring it forward at a time when the attention of parliament was to be taken up with an important alteration in the currency of the country. The question of the currency naturally went first, and must be set at rest, before they could undertake that of the Corn laws. He believed the public coincided with the view taken by ministers, and that there was no anxiety out of doors to see the Corn laws altered. He was fortified in this opinion by frequent intercourse with the silk-throwsters of the county which he represented. He was rejoiced to say, that the manufacturers, though under severe distress, took a more correct view of the Corn laws, and were by no means dissatisfied with the prices of agricultural produce. They were suffering distress, however; and it would be his Mr. Hume said, he did not see what duty, in a few days, to urge their earnest possible connexion existed between them. application to the House, that they would The hon. baronet had stated, that the not persevere in enforcing the principles sentiments of the manufacturers were alof free trade. In making that appeal, he tered on the subject of the Corn laws, and should discharge his duty, though he had that they now viewed them in a favourbut feeble hopes of making an impression. able point of view. He would not deny, He always had strong doubts as to the since the hon. baronet had stated the usefulness of those principles; but when thing as a fact, that there were some mahe heard them advocated from the Trea-nufacturers in Somersetshire who would sury bench, and lauded by the most enlightened members of the opposition, he felt somewhat shaken in his conscientious opinion, which was, that the principles of a free trade, however beautiful in theory, were not applicable to the commerce of this country. They were told last night, that the new laws relative to the silk trade had not yet been tried, and that therefore it was impossible to judge of their effect; but, from all he could learn, the present distress was not owing to over-trading, or to the large quantity of goods in hand, but to the apprehension of a great influx of silk from France. The duty of 30 per cent, he was assured, was a mere mockery; that it could be evaded without difficulty; and that a manufacturer at Lyons would undertake for 15 per cent, to furnish in VOL. XIV.

rather pay 1s. for the quartern loaf than 6d. ; but, he would take upon him to say, that the sentiments of these men were not in unison with those of the great body of manufacturers throughout the king. dom. And in the name of that large body-in the name of every class of persons in the country, the land-owners excepted-he protested against such a misrepresentation of their opinions on this question. The general feeling of the country was opposed to all kinds of monopolies to the East India monopoly and the Bank monopoly, as well as to that of the landed interest-because it was now pretty well understood, that the payment of all those monopolies came out of the pockets of the people. He had opportunities of knowing the senti

H