• TOPICS OF THE DAY,

COLLECTIVE WISDOM.

IN the Chronicle's report of Earl STANHOPE'S speech, we find these sentences :— " There is no part of the country which does not begin to think for itself, and to examine for itself the nature, extent, causes, and remedies for the existing evils; and to have adverted to them in the Royal Speech would have been far more proper than to talk of legal inquiries. Why does what is said about the consideration of measures for the better administration of justice occupy so prominent a place in the Speech ? No doubt, at the proper time, those would be important subjects of investigation ; but what should we say of the wisdom of any individual, who, when his house was on fire, set himself busily to examine his banker's book ?"

"At the proper time!" Has not the public at all times as good a right to justice, as the landlords have to their rents ?Why, besides, should falling rents be likened to a house on fire? or lawlreform to a banker's book ?

In reference to the possible recognition of Don MIGUEL, Lord 60DERICH was pleased to observe— "I hope it will be such a recognition as to call on Portugal for a return of friendship and good offices for so disinterested an act; and lastly, I hope, that if Don Miguel is recognized, we shall not leave those unfortunate men still to suffer as the victims of tyranny, but that their hard fate may be mitigated by the influence of British councils ; and from what I have both heard and seen, I fear it will not be mitigated without their interference."

What are the returns of friendship and good offices here alluded to? Is it the favour, at the hands of the Portuguese, of a counterpart to Don MIGUEL ?

The same noble Lord took occasion to deny that the change in the currency had increased the taxation. Here are his proofs.

"In 1815, in the hey-day of our glory, the amount of taxes levied was somewhat more than 80 millions. If the depreciation had been charged, as it may fairly be calculated, at 30 per cent., the amount would have been fiftysix millions. So that fifty-six millions now are equivalent to 80 millions of that time."

Fifty-six millions, he added, were the exact amount of last year's taxes; therefore taxation has lessened in amount and severity. This is not the conclusion of COCKER.

In comparing the wet seasons of 1816 and 1817, Lord CARNARVON remarked, that

"In 1817, there was an issue of seven million of Exchequer Bills, the Bank of England made an issue of 3,000,000 of small notes, and there was a proportionite issue made by the private bankers. All this contravailed the inclemency of the season."

To raise prices by deluging the country with paper money, was a rare device to mitigate the pressure arising from a scarcity of food !

Lord KING—For the last fifteen years every thing had been getting bad, but now every thing exhibited symptoms of being worse, except perhaps the Royal Palaces which they saw rising around them. And what did their Lordships suppose this proved? Why, it proved that the progress of society was arrested, and they had at what the political economists call the stationary, which immediately precedes the declining.

Sir JOHN BRIDGES and Mr. PROTHEROE said a few words, the one in support of the Address, the other of the Amendment. Sir JOHN acknowledged. his insignificance, but piously relied on the blessing of God. Mr. PROTHEROE said he had been a listener for a long time in the House; but the public had ceased to look for eloquence, so he would for once in a way be a speaker. Mr. E. DAVENPORT mentioned a curious fact, illustrating the intellectual progress of country gentlemen, namely, that they had been puzzling for ten years, and had just arrived at the conviction that the more money there was taken out of their pockets, the less remained behind!

Lord DARLINGTON declared himself no ultra in his opinions. When he saw the Noble Duke at the head of his Majesty's Government, and remembered his great military services, that alone would induce him to support his Administration. Mr. O'CoNiNnua. gave it as his opiniion, that instead of keep up a taxation of sixty millions, if we persevered in a gold currency, we must cut that taxation down to fifteen or sixteen millions.

Mr. PEEL made this observation " His Majesty stated, in his Speech, the fact that the export in the lasr year, of British produce and manufactures, had exceeded that of any forme year. The supporters of the Amendment maintained that his Majesty's Mia. nisters inferred from that fact that the commerce of the country was in flourishing condition. No such thing. They merely stated the fact" But if the inference in question was not meant to be drawn from this "fact," why did it find a place in the King's Speech at all? On that supposition, it had no business there. But the Duke of WELLINGTON avowed that such was the purpose which" the fact" was designed to serve.

Mr. Htisitissorr was of opinion that the country was "in an unsatisfactory and suffering state," &c. He believed "that Parliament would look fairly at this, and would endeavour to direct its attention to the true causes of the distress." Will Mr. livsaissox have the goodness to tell the country what the "true causee. are ? Many blame his policy as the "true cause." He recommended the system on which Ministers now act, as a cure for the disordered action of our commercial system; yet he now comes forward and gravely tells u i s that the cure s still to be sought. Sir FRANCIS BURDETT was astonished to learn what the Prime Minister had said about "steam'—to find him attributing some of the distresses of the country to the application of that power which scientific men said had so considerably contributed to the prosperity of the country."—True, Sir FRANCIS; but increasing prosperity implies change, and change is always a the expense of some class of the community. Machinery, in the first instance, presses hard upon, the labourers whom it supplants ; as a free trade in corn, " which scientific men say would contribute to the prosperity of the country," might cause some distress among the class to which Sir FRANCIS belongs.