ceed, would be for that House to take the whole power of the state into its own hands. As to the particular office, if it was not to be abolished, he trusted, at any rate, that the two paymasterships would be consolidated, and the salary given to one efficient and responsible officer. With regard to the Sinecure bill, as a measure of economy, it had been recommended by the Committee of that House, and as such it had his cordial support.

Mr. Creevey consented to withdraw his motion; with an understanding, that he would renew it, in the event of the rejection of the Sinecure Offices' Bill by the Lords.

LOCAL TOKENS BILL.

June 11.

The Chancellor of the Exchequer having moved for leave to bring in a Bill," to continue and amend an Act of the present session, to prevent the issuing and circulating of pieces of gold and silver, or other metal, usually called Tokens, except such as are issued by the Banks of England and Ireland,"

Mr. HUSKISSON said, there was no doubt that the renewal of the Local Tokens bill, passed in the early part of the present session, was extremely necessary, and was likely, under the present state of our foreign expenditure, to continue so for a considerable time. He denied that there had been any improvement in the state of the exchanges between this and other countries, since his right honourable friend last addressed the House upon that subject; and so far was he from believing that the period would soon arrive, when it would be safe for Government to call in the Local Tokens altogether, that he feared it would be necessary to increase the nominal value of the coin now issued by the Bank of England. The price of silver was already higher than the value placed upon the

Local Tokens; and where bullion was wanted, there was no doubt that Bank Tokens at three shillings were deemed much cheaper than other silver. In the recent coinage for Ireland, this fact had been clearly demonstrated; as in that case, the quantity of silver, with reference to the nominal value of the coin, had been considerably diminished; and if this diminution continued, it would soon be necessary to raise their denomination, to prevent them from being withdrawn from circulation. The evils which attended these alterations of the nominal value

of our currency almost every six months, were great, and required the serious consideration of Parliament.

REPORT ON THE CORN TRADE.

June 21.

Sir Henry Parnell moved the order of the day for going into a Committee to consider of the Report from the Select Committee appointed to enquire into the Corn Trade of the United Kingdom; with the view of moving a series of Resolutions, founded upon the said Report. On the question, that the Speaker do leave the chair,

Mr. HUSKISSON took occasion to observe, that, as a member of the Committee, he had been actuated, in his consideration of the important matters referred to it, not by any particular solicitude for the corn growers or the landlords, or for Ireland, in which he had no personal interest; but for the general interests of the whole empire, which, he was satisfied, would be best consulted, by securing to all classes of the community an adequate supply of corn; and which supply would, he trusted, be the result of the measure before the House.

The resolutions were agreed to; but in consequence of the late period of the session, Sir Henry Parnell postponed the further cons sideration of the report for three months.

SIR HENRY PARNELL'S RESOLUTIONS ON THE

STATE OF THE CORN LAWS.

May 5, 1814.

In a Committee of the whole House, Sir Henry Parnell moved a series of Resolutions on the State of the Corn Laws. His first resolution, viz. "That the exportation of corn, grain, meal, malt, and flour, from any part of the United Kingdom, should be permitted at all times, without the payment of any duty, and without receiving any bounty whatever," was put and carried. On the second resolution, containing the new Schedule of duties, being read,

Mr. HUSKISSON said, he would not trespass on the House longer than was necessary to explain the amendment which he was about to offer. The two great objects which the House had in view by the proposed measures were; first, to render the country independent of foreign supply; and, secondly, to keep the price of corn as steady as possible.

Under the system which had been pursued since the year 1773, England had been gradually becoming more and more dependent on foreign countries for a supply of grain, and the prices had, in consequence, been kept in a state of continual fluctuation. He had selected this period, because the year 1773 was, in fact, the commencement of a great change in the practical operation, though not in the avowed policy, of our corn laws. From that date the aggregate balance of our imports of grain, taken upon a series of years, began to exceed the balance of our exports. But, upon looking from that year to the period of the revolution in 1688 (a space of eighty-five years), our exports, taken for any number of years, on the contrary, exceeded our imports, and during that period the fluctuation of price had never exceeded one-third.

Instead of which, during the last half century, large importations had taken place, and the fluctuations had

exceeded more than three to one, instead of one to three. He would ask the House, what must be the state of that law which had produced such great evils-if they had been produced by law, of which there could be no doubt; and whether some remedy was not absolutely necessary? It was impossible to raise the price of labour, in proportion to the fluctuating price of grain; and as the agricultural labourers constituted the largest class, and were those whose earnings approached nearest to the amount of that which was necessary to mere existence, any temporary rise in the price of grain was more severely felt by them than by any others; and this evil exhibited itself in augmented poor rates, and in various other forms.

The fluctuation of price was an evil equally to be guarded against with a high price. It was true, the total prohibition of the importation of foreign corn would raise the price; but if he should prove that the proposition which he meant to submit to the House, though it might raise the price in a trifling degree, would yet tend to keep it at a steady rate, and not so high as the average of those fluctuations which had taken place of late years, it would not be said that he was one who attended to the landed interest alone. Indeed, it was unjust to suppose that there was any exclusive interest in that House.

Notwithstanding the importance that was attached to the importations of grain, it was an ascertained fact, that in no one year had more than about one-tenth or one-twelfth of the whole consumption been drawn from foreign countries. If no foreign corn had been imported, the nation would have saved sixty millions sterling. It might be said, that without this importation sixty millions' worth of our manufactures would have remained unsold; but then it is not recollected what those sixty millions would have effected, if they had been expended in the improvement of our agri

culture; or what increased means of purchasing our manufactures they would have given to the agriculturists. If, on being laid out at home, they had produced these natural effects, then the country would have added to her means of independence, and have created a market, of which no external relations could have deprived her.

When the law, permitting the importation of corn, was first passed, there was a great deal of unfounded clamour raised against it; but what had been the effect of that law? Ireland had supplied to England corn, for which she had received several millions that had gone to improve her agriculture, which, but for that law, would have gone to Holland or some other country. The exportations from Ireland were now three millions annually, with the probability of a great increase. Circumstances, over which we had no control, had tended to improve the agriculture of England. Continental exclusion had advanced the cultivation of our own lands; and the high prices occasioned by such exclusion, had rendered us independent of foreign aid. Now, when we had paid the price of our independence, and produced a supply equal to our consumption, would it not be wise to prevent any great revolution, which would destroy the domestic culture of the country, and render it more dependent than it had ever been?

He would not stop to inquire whether it was sound policy to suffer any great country to be dependent on another, for an essential article of subsistence; but it must be obvious, that such an advantage would be readily seized on by any power, and used to the annoyance of the nation that exposed itself to such an evil. If the law was left in its present state, it would not be long before agriculture would go back. The low price of corn, indeed, had caused many labourers to be thrown out of employ; as the farmer was not capable of continuing his improvements. A double