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14.- THAT during the continuance of the country, and they exercise the power the suspension of Cash Payments, it is the of limiting or extending the issue of paper duty of the Directors of the Bank of Eng. according to their discretion ; I say if that land to advert to the state of the Foreigu epoch should ever arrive, it may be conExchanges, as well as to the price of Bul. sidered as the signature to the death-warlion, with a view to regulate the amount of rant of the Bank of England. The genetheir issues.
rality of writers upon the subject of finance, 15.—THAT the only certain and ade may be classed under two distinct heads. quate security to be provided, against an - The one contending that the paper con. Excess of Paper Currency, and for main. stituting the existing circulating medium taining the relative Value of the Circulate of the country has no influence, nor in ing Medium of the Realm, is the legal any manner operates upon the foreign exConvertibility, upon demand, of all Paper changes, the price, plenty, or scarcity of Currency into lawful Coin of the Realm. bullion. The other that the extension of - 16.-THAT in order to revert gradoally our paper circulation is the sole occasion to this Security, and to enforce meanwhile of the unfavourable state of the exchange, a due Limitation of the Paper of the Bank encreased price, and scarcity of gold and of England as well as of all the other silver, and that a reduction of the paper Bank Paper of the Country, it is expedi- alone will remedy the evil.- Upon an acent to amend the Act, which suspends the curate investigation of the subject, I susCash Payments of the Bank, by altering pect that both these opinions are erroneous, the time, till which the Suspension shall and that the truth will be found (as is continue, from Six Months after the Ra- | generally the case) to lay between the two tification of a Definitive Treaty of Peace, extremes, each of them having some operato that of Two Years from the present tion in producing the evils complained of, Time.
though by no means equal in their relative importance.—The enormous encrease
which has taken place in our foreign exMR. HOARE'S LETTER.
penditure, the immense sums which have To the Governor, Deputy Governor and been paid for neutral freights, combined
Court of Directors of ihe Bank of Eng- with a large importation of goods from land.
abroad, have in my estimate exceeded by GENTLEMEN. — The interest which I have many millions the amount, profits, and always taken in the general good conduct advantages of our exports; and as I know and management of the Bank, renders it of no means which can be devised to disimpossible for me to view, without consi- charge this balance, but by the exportaderable anxiety, the numerous and en tion of bullion, to this cause may fairly be creasing difficulties which now assail the attributed the general scarcity of money; establishment. There never was a period when a large profit attends the exportation which demanded the exercise of more ta- of a commodity which may be confined lent, firmness, and discretion, in order to within so small a bulk, ihere are no avert the impending dangers of our situa- restrictive laws, however severe, that will tion. "It does not require much sagacity secure its continuance in the country.or foresight to perceive, that a severe and Although there is great difficulty in asceralarming blow is aimed at the indepen- taining the manner in which paper operates dence of the corporation, by those who upon the exchanges, and the most able are neither competent to appreciate its writers do not give a satisfactory explavalue to ourselves, or justly estimate its im nation of the subject, there appears strong portance to the general interests and wel. presuinptive evidence in favour of the fare of the community at large.--To per- fact, and one circumstance seems perfectly sons intimately acquainted with the true plain and indisputable, that if bullion is principles of finance, it is unnecessary to an article of commerce and merchandize, explain, that the confidence of the public a considerable encrease in the circulating cannot be maintained, in the solidity of medium, which is acknowledged to have the present circulating medium, without a the effect of enhancing the price of all total exclusion of every act of power and purchasable commodities, must have some authority from the direction and manage influence upon this: admitting the statement of the Bank, and that whenever the nient to be correct, a decrease of paper period arrives, that the Corporation be will diminish the price of bullion. The oomes identified with the government of new principle adopted by the Court of
Directors, that no other limits should be in disgraceful flight, and routed on all presribed to the issue of their paper, but points, rapidly disappear from the Portudemand, and that all good bills which are guese territory, which they have infected presented to them may be discounted, with their presence. The Governors of without creating excess, appears to me Portugal rejoice with you on this happy not only liable to material exception, but if event; and after humbling themselves in acted upon to the extreme, would be at the presence of the Almighty, the first tended with very serious evils; the Bank and sovereign Author of all good, they paper in that case, instead of being con render due thanks to his Royal Highness fined within about twenty millions, would the Prince Regent our Lord, whose wisdom soon double the amount; and the idea established the bases of our defence; to which the Court of Directors have adopted, his British Majesty, to bis enlightened. that the paper will return to them, if ex. Ministry, and to the whole British nation, tended beyond proper limits, appears to in whom we have found powerful and me very theoretical-there are so many liberal allies, the most constant co-operaspeculators, adventurers, and projectors, tion in repelling the common enemy, and both in commerce, canals, and the public that honour, probity, and steadiness of funds, &c. who can probably furnish the principle which particularly characterise Bank with very unexceptionable security, that great nation; to the illustrious Weland would employ any sums of money | lington, whose sagacity and consummate they could borrow at 5 per cent with the military knowledge enabled him to peneespectation of realizing a profit of 10 per trate the plans of the eneny, to take the cent. Under such circumstances, there most effectual precautions for frustrating is too much reason to fear that an excess, them, and compelled them at last to fly which even the Directors themselves with the remains of their numerous army, would deem improper, must unavoidably diminished by famine, by the most serere take place, before the paper reverted to prirations, and by the incessant pursuit of them. The natural consequences result. ihe allied forces; to the zealous and ining from the measure would be an im- defatigable Beresford, the restorer of dis.. portant depreciation in the value of money, cipline and organization to the Portuguese and an encreased price in all the neces. troops; to the brave and skilful Generals saries of life. Alihough I know it to be anıl Oficers of both nations; to their impracticable for the Bank to resume their brare comrades in arms, who, with ge. payments at the time proposed by the nerous emulation, never fought that they Report of the Bullion Committee, unless did not triumph; and, in fine, to the a total stop is put to our imports and whole Portuguese people, whose loyalty, foreigo expenditure, yet it is extremely patriotism, constancy, and humanity, have desirable that the Court of Directors been so gloriously distinguished amidst should be guided them.selves by those limi- the tribulations which have afflicted us.tations, and that discretion in the issue of A nation possessed of such qualities can their paper, which are absolutely neces never be subdued; and the calamities of sary as a preliminary measure, and will war, instead of disheartening, serve only not only have the effect of giving addi- to augment its enthusiasm, and to make it tional confidence to the public in its so feel all the horror of the slavery with which lidity, and decrease the prevalent spirit of it was threatened. ----But, Portuguese, the hoarding, but approximate the value of lamentable effects of the invasion of those their paper to the current coin of the barbarians; the yet sinoking remains of realm; until this event takes place, the the humble cottage of the poor, of the country cannot be considered in a state of palace of the man of opulence, of the cell perfect health and security. I remain, of the religious, of the hospital which afa with all due respect, your sincere friend, forded shelter and relief to the poor and SAMUEL Hoare.- Lombard-street, April 22, infirm, of the temples dedicated to the *1811
worship of the Most High; the innocent
blood of so many peaceful citizens of both OFFICIAL PAPERS.
sexes, and of all ages, with which those
heaps of ruins are still tinged; the insult' PORTUGAL Proclamation against the French, of every kind heaped upon those whom 30th March, 1811.
the Vandals did not deprive of life--in. Portuguese ! - The day of our glory is sults many times more cruel than death. at last arrived : 'the troops of the enemy, itself; the universal devastation of the
fields, of plantations, of cattle, and of the to which they have fled they were reinstruments of agriculture; the robbery ceived with open arms; the inhabitants and destruction of every thing that the eagerly pressed to afford them all that sucunhappy inhabitants of the invaded districts cour which they could individually bepossessed :-this atrocious scene, which stow; they filled their houses with emimakes humanity shudder, affords a terri grants; and many times have we per. ble lesson, which you ought deeply to en ceived with tears of joy the generous grave in your memory, in order fully to emulation of those who disputed with one know that degenerate nation, who retain another who should afford the rights of only the figure of men, and who in every hospitality to those unknown families who respect are worse than wild beasts, and arrived in this capital without shelter or more blood-thirsty than tygers or lions. the means of subsistence. It is the doty Wretched are they who trust in their de of the Government to take immediate ceitful promises ! Victims of a foolish cre measures for the relief of these necessitous dulity a thousand times will they repent, persons; but the want of public funds, but without avail, of the levity with which which are not even sufficient to provide they have trusted to the promises of a for our defence, must make these measures vation without faith and without law; of less effectual, unless individuals liberally men who acknowledge neither the rights concur in a proceeding as much recomof humanity, not respect the sacred tie of mended by humanity as by patriotism.an oath. Opposed to such an enemy, the Under the inspection of an illustrious trionly alternatives which remained to us bunal which has advanced part of these were resistance, or retreat; the former succours, by the wise and economical depended on a competent armed force, measures of a member of that tribunal, the latter is a law which the duty of executed by zealous and intelligent-offipreserving life and property imposes cers, the wretched fugitives have beeą fed, on all peaceful citizens. These, evacu and numberless unfortunate persons bave ating the towns where they dwell, trans been rescued from the jaws of death. This porting the effects which they can carry great expence has been supported, not off, destroying those which they are only by the resources which were at the obliged to abandon, and which might serve disposal of Government, but, still more, for the subsistence of the enemy, escape by voluntary donations presented by nathe horrors of the most infamous slavery, tives, and foreigners; among whom we throw themselves into the arms of their ought to mention with particular distincfellow countrymen, who receive them as tion the subjects of his Britannic Majesty, brothers, assist the military operations, both those who are employed in the army, depriving the invaders of the means of those who are attached to the legation, maintaining themselves in the territory and those who are comprehended in the which they occupied ; and in this way class of merchants. Those acts of pathey are so far useful to themselves, bé-triotism and of Christian charity were not cause the enemy, not being able to sup- confined to the capital and its vicinity. port himself for a long time in positions In all the districts of the kingdom, whither where he is in want of subsistence, will the fugitives resorted, they met the same soon be obliged to evacuate them; and reception, and experienced the same kindthe inhabitants returning immediately to ness and liberal aid, as far as the ability their homes, neither suffer the inconveni- of the inhabitants enabled them to extend encies of a lengthened absence, nor find it.-The Governors of the Kingdom, in their houses and fields in that state of total the name of the Prince Regent, relura devastation, in which the enemy's army thanks to all for such distinguished serwould have left them, bad he remained vices, by which the lives of so many of for a longer period.--Such, Portuguese, his subjects have been saved, and those are the lessons of experience which we calamities softened which were caused by ought never to forget.-But amidst such the scourge of a destructive war. His great disasters, Providence is pleased to Royal Highness will rejoice in being the give us sources of consolation which will sovereign of a people so loyal, patriotic, make them less sensibly felt.-The unfor- generous, and Christian. - It now only retunate people who fled from the fury of mains to complete the work, to promote their cruel oppressors have experienced the restoration of the fugitives to their the greatest kindness in the humanity of bomes, to render habitable the towns their fellow citizens. In all the districts which the barbarisma of these spoilers has
left covered with filth, and unburied car new disasters.' Words are unequal to concasses; to relieve with medicine and food vey an idea of the humanity, zeal, and the sick who are perishing for want of intrepidity with which many boats and such assistance; to give life to agricul- feluccas (particularly the English) put ture, by supplying the husbandman with out and saved a number of unfortunate seed.corn, as well as a little bread for his people, who must otherwise have perishconsumption for some time, and facilitat, ed, as did many who could not be relieving his means of purchasing cattle, and ed. The inhabitants of Cadiz averted acquiring the instruments of agriculture. their eyes from these objects, to turn them, -Such have been and are the constant full of indignation, on the cause of such cares of the Governors of the Kingdom.- evils. “It is not,” they exclaimed, Portuguese! tribulations are the crucible the east wind which has sacrificed so many in which the merit of men is purified. victims, which has ruined so many faYou have passed through this ordeal, and milies whose property is buried in the the result has been glorious. You are be sea ;-it is they who, from unpardonable come a great nation,-a nation worthy of ignorance, criminal indolence, or, to those heroic progenitors who illustrated speak at once (since there are Tortosas and the cradle of the Monarchy. Preserve Badajos), from infamous wickedness, did unalterable these sentiments ; confide in not reap the fruits of the memorable battle your Government, as your Government of Chiclana. The whole coast cleared confides in you; draw every day more of the enemy, (as it ought to have been), closely the bonds of union among your- | many ships would have been anchored selves, with other nations and with our between Puntales and the Trocadero ; and generous Allies, who are our true brothers. consequently sheltered from the violence Let one soul, one will, direct our common of the storm. They would have had more efforts ; and if any one attempt to sow sea-room, and would not have run foul of discord, let us tear from our bosom the each other; and even if driven on shore, venomous viper, and let us seal with his the exertions for saving their crews might blood the ratification of our indissoluble have been more effectual. -The nation alliance. -Practise these maxims with the demands vengeance, and demands it justsame constancy with which you have hi- ly. August Congress ! if ignorance or therto followed them, and you will be in treason-are the causes of our not having vincible. – Palace of the Government, reaped the fruits of that glorious day, March 30, 1811.-The Bishop Cardinal arm yourselves with the avenging sword Elect; P. Souza; Charles Stuart; Mar- of justice, and let the guilty perish,--quis Monteiro Mor; Conde de Redondo; From the Conciso it appears, that very Ric. Raimundo Nogueira.
warm discussions have taken place in
Cadiz, with respect to the conduct of the Spain.-BATTLE OF Barrosa.- Disputes at Barrosa, and it does not seem to bave
Spanish General Lapena in the battle of Cadiz, relative to the conduct of the Spaniards in that Batile.-Cadiz, 29 March given more satisfaction there than it has 1911.
done in this country. The Conciso of the
22d of March contains a letter from an On the evening of the 27th it began to English officer, on the subject, to which blow a strong gale from the east, which there is afterwards a reply from a Spanish encreased every moment, and in the course officer. We shall give some extracts from of the night and next morning rose to a each. The ENGLISH OFFICER begins pitch of violence greater than any within thus :-Having heard nothing but false our recollection. The consequences have accounts touching the battle of Barrosa, been most destructive and deplorable. and being persuaded that the public The inhabitants, filled with a well founded cannot obiain a proper knowledge of it apprehension of the damage which such a from the dispatch of General Lapena alone, terrible night was likely to cause in the I should be wanting to my duty as an bay, crowded in the morning to the sea- English officer, if I failed to lay before wall, where they witnessed the dreadful the Spanish public certain facts which spectacle of a considerable number of fixed my attention.--I shall not detail ships wrecked, and others in danger of any of the circumstances which occurred the same fate making signals for assist- before our arrival at Vejar, suffice it to apce. During the whole day the gale say, that the allied troops underwent continued equally violent, and caused much labour and fatigue ; but as the ut
most harmony prevailed, it was cheerfully | taken after an obstinate resistance, and the borne by the soldiers of both nations.-enemy's colunin on our left was put to the On the night of the 3d we halted in a rout. The enemy being already forced on wood near Vejar; and at six in the even: all points, a squadron of German cavalry ing of the 4th we all marched, with the charged him, and the line made a halt, understanding that we were to halt and the General thinking that his troops nad take refreshment at Conil, for the purpose worked hard enough. Four thousand men, of being prepared to fight the enemy next so exhausted by the want of refreshment day. The Spanish General, however, and a painful march, and who, notwithchanged the plan, and on the morning of standing, drove back a very superior force the 5th, after a march of sixteen hours, we possessing the advantages of position and found ourselves on the heights of Barrosa. circumstances, require no eulogy. During "--The van-guard, under the command of the time when the combatants were hotly Brigadier Lardizabal, received orders to engaged, two battalions (Walloons and enter the pine-wood, and make every ef- Ciudad Real) incorporated with our divi. fort to keep open the communication with sion during the march, and which were Santi Petri; and this operation was very directed towards another point when he, respectably executed by his division.-At ordered us to enter the pine-wood, were this moment General Lapena ordered Ge. seen making all possible exertions to join neral Graham to march towards the wood and succour their friends; but they could with the British troops, in the direction of not reach our line till the whole was conSanti Petri, which he did; but he had not cluded: I believe, however, that Brigadier advanced far into the wood, when he re- Cruz and these battalions are sharers in the ceived advices, that the enemy was march- glories of that day, from the zeal and ing rapidly by the plain towards the posi- anxiety which they displayed to join our tion which we occupied three quarters of troops.The enthusiasm which animated an hour before.--He immediately counter- these battalions does not suffer me to marched his division; and upon issuing doubt that the same spirit prevailed in the from the wood, observed a strong column whole Spanish army; but these good disof the enemy advancing on our left; and positions, and all the firmness and noble we were surprised to see another consider sentiments of the Spanish nation, were saable corps in possession of the heights, crificed to the want of activity of General where we had left part of the Spanish Lapena, of his advisers, and the officers of army. I know not what happened on the his staff.-Had the smallest movement heights after our troops left them. I have been executed; had the Spanish General beard that the Spanish and German ca himself, or any individual of his staff, been valry charged the enemy; I have heard present to give him an account of the that two Spanish regiments of the division state of the action, he would, by conseof Begines opened a brisk fire on the quence, have been able to co-operate
*; enemy; I have heard, in short, that they and the result would doubtless have been all received positive orders from the Ge- attended with as favourable consequences neral in Chief to retire ; but as I was not to the Spanish cause as any other event with them, I do not take upon me to de.
which has occurred since the commence. cide upon any of these circumstances : ment of the oppression and tyranny exerwhat I shall say is, that when we cleared cised upon Spain; and I believe it is not the pine-wood, no Spanish troops were in too much to say, that it would have ac sight:- Retreat would have been most complished the deliverance of Andalusia. hazardous ; and to attack a height occu. --I declare on my word of honour, that all pied by fresh and superior forces, wanted that I have related took place under my little of being an enterprise of equal diffi- own eye; and I am persuaded that there culty. I understand that General Graham is not an officer in the British army, nor in was aware of the importance of the posi. the Spanish battalions above-mentioned, tion of Barrosa; and confident of the va who will fail to confirm every word of it. lour of his troops, determined on risking C. P. AN OFFICER IN THE BRITISH ARMY. an attack. The heights on our right were Isla, March 10, 1811.
(To be continued.)
Published by R. BAGSHAW, Brydges-Street, Covent - Garden :-Sold also by J. BUDD, Pall-Mall,
LONDON :-Printed by T: C. Hansard, Peterborougb-Court, Fleet-street,