STATE OF THE CURRENCY-ALTERATION OF THE CORN LAWS. December 1. Lord Folkestone, seeing the President of the Board of Trade in his place, asked, whether it was the intention of Government to introduce any measure respecting the Currency, in consequence of what had taken place in the Committee on the Small Note Bill, during the last session? Mr. Huskisson said, he was not prepared to answer the noble lord's question: upon which the noble lord remarked upon the extraordinary situation in which Parliament was placed, by the conduct of Ministers, both with respect to the Currency and the Corn Laws. They were assembled, he said, at an inconvenient season of the year; and yet they were told by Ministers, that no discussion was to take place upon a subject, on which the greatest excitement was raised throughout the country. Mr. HUSKISSON observed, that the noble lord had inferred more from the answer which he had returned to the noble lord's question, than the fair import of that answer warranted. The noble lord had alluded to the Committee of Inquiry on the Scotch Small Note currency, and had asked him whether it was intended to take any steps in consequence of what had taken place in this Committee? His answer was, that he was not then prepared to inform the noble lord whether it was intended by Government, to propose either the revival of the Committee, or the adoption of any proceedings founded upon their Report. From this answer the noble lord had thought fit to infer, prematurely, that no steps whatever would be taken. He again stated, that his Majesty's Government had not had an opportunity of considering whether it was necessary or not, to renew the Committee in question; and therefore he was not prepared to say whether they would do so, or whether they would take any steps on the Report already printed. The noble lord expressed his surprise, that when a Report had been presented in a former session, on a subject involving questions of the greatest public interest, his Majesty's Government, ten days after the meeting of Parliament, on a special occasion, and at an unusual period, should not be prepared with the developement of most important subjects, perfectly distinct from those for which they had been, he might say, specially assembled. The noble lord, who was a great friend to the liberties of the people, and a great stickler for a close adherence to constitutional forms, could not see for what Parliament was assembled, if not to dispose of the Currency and Corn questions. He would tell the noble lord, it was assembled in deference to the constitution. It was assembled because his Majesty's Ministers had advised a breach of the law, on a subject of great and peculiar interest. His Majesty's Ministers conceived, that having violated the law, they were bound to call Parliament together, to sit in judgment on their acts, and either to indemnify them for what they had done, or put an end to the continuance of the violation. His Majesty's Ministers conceived, that on the very same day on which they advised the violation of the constitution, they ought also to advise his Majesty to call Parliament together, as soon as they could conveniently be assembled. It was on that ground, and for that purpose, that Parlia ment had been summoned to meet; and he was sure it would not be matter of surprise to the majority of that House, or to the country at large, that it was not proposed to Parliament at the present period of the year, to proceed to the permanent settlement of such great questions as those connected with the Corn and the Currency. It was never usual to bring on important topics, such as these, within a few days of an expected adjournment. The noble lord must be aware, from the circumstance of the present being a new Parliament, that important questions could not, for some time, be proceeded with, to any great length; and it would be extremely unfair and injurious to the country, to bring forward any important measure, which could not be pursued to its termination. The noble lord had said, that all this was a pretence— that Ministers had not made up their minds with respect to the plan which they intended to prepare regarding the Corn Laws and that it was because they were not ready, that they did not come forward. He would only say, in answer, that his Majesty's Ministers were prepared and were agreed, as to the measures they should bring forward, with a view to the permanent settlement of the Corn Laws; but they thought it would not be conducive to the interests of the country-they thought it would be calculated to occasion a most injurious division of feeling, and conflict of opinion, if they brought forward such a subject, at a time when it was impossible to pursue it to its accomplishment. The noble lord had also said, that he recollected Parliament having been called together at as early a period as the present, for the dispatch of general business; and among other instances, he had specified one, in which it was assembled for the purpose of providing means to obviate an apprehended scarcity. But that was quite beside the present question. The present case was simply this-Ministers having adopted certain measures which appeared to them to be expedient, although in violation of the law, Parliament had been assembled, to say whether they had done right or not. Now the period might be very unfit for the consideration of a permanent alteration in the law, which was extremely fit for the consideration of the propriety of a temporary expedient, which had grown out of an urgent occasion. He perfectly agreed with the noble lord, that the question respecting the Corn Laws must be looked at, with more or less reference to the question respecting the CurBut what he maintained was, that these two quesrency. tions, questions of such magnitude, could not be advantageously considered at the present inconvenient season; and that, therefore, it was much more wise to postpone them until the ordinary period. The noble lord had reproached him with not having, last session, in the Committee on Small Notes, directed any inquiries, to ascertain how far the comforts of the agricultural population of Scotland had been affected by the introduction of one-pound notes. The fact, however, was, that so remote was the period at which these notes had been introduced into the, Scotch circulation, that it would, he thought, be impossible to get any witness from that country, to tell, from his own experience, what had been the effect of the withdrawing of gold from circulation. The notes had been introduced so long back, that no person now alive could remember their introduction; and if, to escape the noble lord's reproach, he had asked such a question, he was sure he should have been laughed at. He was satisfied that neither by the House, nor by the country, would his Majesty's Ministers be censured for not bringing forward the subjects of the Currency, or the Corn Laws, at this particular period. JOINT-STOCK COMPANIES FORMED DURING THE YEARS 1824, 1825, AND 1826. December 5. This day, Mr. Alderman Waithman called the attention of the House to the Joint-Stock Companies which had been formed during the last three years. They amounted, he said, in number to no fewer than six hundred, and required, for the execution of their intended operations, a capital of many millions. He complained of the dishonest views with which they were originally set on foot; the knavery by which a fictitious value was, for a time, given to shares which had cost nothing, that the solid differences between imaginary prices might fill the pockets of the gambling speculators; and of the misery and ruin produced by this systematic swindling. In particular, he instanced the conduct of the Directors of the Arigna Mining Company, and concluded with moving, "That a Select Committee be appointed to inquire into the origin, management, and present state of the Joint-Stock Companies, which had been formed during the years 1824, 1825, and 1826, and to report the same, with any special matter touching the conduct of any Member of that House." Mr. Canning objected to the extent of the inquiry, which, he said, to be useful, must be limited and precise: but, as enough had passed to afford strong grounds for suspicion, that in the affairs of the Arigna Company there was matter deserving of inquiry, he would move an amendment, limiting the labours of the Committee to the management and history of that Company. Mr. Attwood entered into an able defence of Joint-Stock Companies, against the wholesale accusation brought against them by the honourable alderman. There was, he said, no more harm in buying or selling a share, than there was in purchasing or selling a shawl. For himself, he could safely say, that he was not aware of having ever been engaged in a single Company, which could be deemed derogatory to his station as a member of parliament. Were they, he asked, to infer bad conduct, because of the connection of a Member with some of these Companies? If so, then even the right honourable the President of the Board of Trade was not safe; for, so far back as the year 1822, he had been connected with one of them; but nobody doubted, that it was because he thought such Companies advantageous to the Public, and because there were men amongst them of sound character and strict integrity. Mr. HUSKISSON said, that as an allusion had been made to him, it became his turn to explain what had been his conduct, during the prevalence of the occurrences which had been so much alluded to. The honourable member for Callington* was, however, under some mistake, or misap |