less restricted. His honourable friend, the member for Bramber, had reminded them, that the same difficulties and pressure existed at this moment in the mother country; but he must observe, that the case was far from being precisely similar, and that people here would feel themselves much more deeply aggrieved, if there were open markets on the continent, which they were not permitted to supply. His honourable friend must allow that the existence of such a demand with the perfect freedom of supplying it, would administer a very great relief; and that of this relief, which was attainable by them, our West-India planters were deprived.

He could perceive no solid reason for objecting to the proposed measure, and his honourable friend, upon reconsideration, would, he thought, come over to the same opinion. Every argument founded on humanity alone, certainly appeared to him to be in favour of, and not in opposition to, it. He should merely add, that he considered the proposed measure as not less a boon to the mothercountry, than to her colonies. He should be sorry to find the subject mixed up with other questions of great difficulty and delicacy, and which even those who touched on them did not wish to force into immediate discussion.

The resolutions were agreed to, and leave was given to bring in the two Bills.

MR. HUSKISSON'S PLAN FOR THE RELIEF OF

AGRICULTURAL DISTRESS.

April 29.

The House having resolved itself into a committee to consider of the Report of the Select Committee on the distressed State of the Agriculture of the United Kingdom, the Marquis of Londonderry concluded a speech of great length, with moving sundry Resolutions,

in conformity with the recommendations of the said Committee, of which the following are the outlines: 1. One million to be advanced on British corn in warehouse, when the average price shall be below 60s. the quarter.-2. The owners of foreign corn in warehouse to be permitted to grind it for exportation.-3. The ports to be opened when the home price shall be 80s., and continue open until it be below 70s.-4. While the price shall be between 70s. and 80s., the duty to be 12s., and an additional duty of 5s. during the first three months of importation; and a duty of 5s., with a like additional duty of 5s., when the price of corn is between 80s. and 85s., after which an increase duty of one shilling only.-5. One million to be placed at the disposal of the Irish government, for the relief of the country, by the promotion of public works, &c.-6. To reduce the present burden of the naval and military pension-list, now five millions, by granting an annuity of 2,800,0007. for forty-five years to contractors, who would advance the sum now required, beyond the average of the whole period, with a view to benefit afterwards by the decrease.— 7. The period for allowing country banks to issue small notes to be extended to the year 1833.-8. To permit country banks, sixty-five miles distant from London, to form joint-stock companies, as in Scotland; in consideration of which, the Bank of England to have its charter extended for ten years beyond 1833, when the present charter expires.-9. Upwards of two millions, being the estimated saving by the pension-list plan, taxes to the amount of 1,800,000l. to be remitted. On the first Resolution being put, Mr. Western said he was of opinion that the proposed measure was inadequate to its object, and not likely to afford any relief. Mr. Ricardo considered the plan of ministers a direct attack upon the Sinking Fund. Mr. Brougham styled it a project for hiring corn, and recommended that Govern ment should affix three golden balls to the front of the Treasury. He declared himself favourable to a Sinking Fund, consisting of a clear excess of revenue over the necessary expenditure; but protested against relieving the present generation at the expense of posterity.

Mr. HUSKISSON said, he fully agreed with the honourable and learned gentleman, that the only real Sinking Fund was that which was composed of a clear excess of revenue over expenditure. He would put this proposition to the honourable and learned member for Winchelsea :

Suppose England liable to pay an annuity of five millions a year for sixteen years; and suppose her, with a view to immediate relief, to convert that annuity into a smaller annual payment for forty-five years, would not the saving upon the difference of amount to be paid for the two given periods be a positive saving, without any invasion of the principle of the Sinking Fund? He assured the committee, that he would himself object to the plan proposed by his noble friend, if he thought it in any way invaded the law of 1792, or touched upon the principle of the Sinking Fund. He was bound to answer the cavil,—or, more properly speaking, the misconception-of the honourable and learned member, to whose proposition in the beginning of the session, for leaving the country without any Sinking Fund, the House had fortunately refused to listen. He was bound to reply to that misconception; because much of the benefit of the present measure would be lost, if an impression were suffered, although but for a few days, to get abroad, that Government, after reducing the five per cents. (a measure carried by the operation of an efficient Sinking Fund), had it now in contemplation to attack that Sinking Fund itself.

Another part of his noble friend's plan, went to extend the period during which country bank-notes under the value of five pounds were to be allowed to circulate, and also to relieve the country banking-houses from their present limitation of six partners to each firm. He had really been surprised when he had heard the honourable member for Essex assert, that Government could not continue the circulation of country notes, under five pound, without repealing a part of the bill, called Mr. Peel's bill. He begged to contradict that statement most decidedly. The present plan, so far from being suggested because the measure of 1819 was repented of, was at all points perfectly consistent

with that measure; and, in the committee upon the bill of 1819, he himself had actually proposed, that the present plan should at that time be recommended to Parliament. With respect to the issue of one-pound notes, whether those notes were issued by country banks under the old limitation, or by country banks with an unlimited number of partners, their credit was secured by their convertibility at pleasure into Bank of England notes or into cash; but he did not believe that, on the removal of the limitation, banks would start up like mushrooms, as the honourable gentlemen opposite predicted. Let the House look at the state of the banks in Scotland, which were already free from limitation. Had any of those banks failed of late years from over-trading? Was it found that they made unreasonable and improvident advances among their own partners? Or had it been found, as was too frequently the case in England, that men embarked as traders in the banking business, in order to prop up other hazardous speculations of their own? Yet the banks of Scotland issued one-pound notes, and presented a fair example to justify the experiment. The apprehensions of increase of forgeries, of over-trading, and of diminished security, to arise from the proposed extension of license, were all disproved by the experience of Scotland. With respect to an increase of forgery, he did not believe that the amount of forgeries upon country banks having local and limited circulation, had been very considerable. The number of trials for such offences, on the contrary, he believed, had been extremely small. As regarded Scotland, he doubted whether, for a great many years, a single man had been executed for such an offence. At all events, he was not to be deterred, by the existence of some minor objections, from the adoption of any measure, involving a great national object.

state of our circulating What was the great cir

Let the House look at the medium at the present moment. culation in the county of Lancaster? Was it Bank of England notes, or notes of country banks? It was neither: but it was in bills of exchange, small bills of five pounds and under. Surely those bills of exchange, which were commonly current throughout that county, were as liable to be forged as Bank-notes would be. And when the honourable and learned member talked of increased convictions for forgery, from the increased circulation of Banknotes, he must be reminded of the number of persons now convicted for counterfeiting, or for offences connected with counterfeiting, the coin of the realm. In the very last year, he believed there had been no fewer than two hundred and eighty convictions for offences of that class.

There were other points upon which he found it impossible to agree with the honourable and learned member for Winchelsea. That honourable and learned gentleman, speaking of the distress of the agricultural classes, had said, that for his part, he did not consider the other classes of the community to be in a flourishing condition; and that, even if he could consider them to be so, that circumstance would not console him for the distressed state of the agricultural classes. He agreed, that the whole matter was one of an appalling nature-that the prosperity of the working classes could not be taken to have its full value when it was connected with the distress of the agricultural class; but still, although one class was suffering heavily, he could not say that it afforded him no consolation to see the other classes in comfort, and better off at present than they had been. He admitted that his consolation could not be ample, and that there could not be a wholesome state of the community, while so important an interest as the agricultural was suffering to the extent of its present