§ Earl Somerspresented a petition complaining of Agricultural Distress, agreed to at the Hereford county meeting on the 17th of January, at which meeting his lordship presided; he having agreed to summon it, pursuant to requisition, after the high sheriff had declined to call it. His lordship detailed the circumstances which took place at the meeting. He thought it right to do so, because he had refused to sign the petition, and because he objected to some of the allegations contained in it. The agricultural distress was undoubtedly very great; and though it might be said that, after a time, that distress would be alleviated; and though it was true, that great landholders might withstand the pressure, still it could not but excite the most melancholy feelings in men who were enabled to bear up against it, to see their neighbours continually falling one after another around them. He certainly did not mean to advocate any measure that could affect public credit; far from it. Public credit was to a nation, what private credit was to an individual; but let it be recollected, how much, during the war, public credit was supported by the landholders, who 235 had cheerfully sustained the burthens imposed upon them—burthens which were the more heavy, inasmuch as, in addition to the taxes they paid in common with other classes, there were various local rates which bore exclusively upon them. It was impossible they could continue to sustain those burthens, under the change of circumstances which had occurred. In addition to the depreciation of prices arising from the transition from war to peace, they had to encounter the baneful effects of what was called Mr. Peel's bill. He did not mean to say that we ought not ultimately to return to a metallic currency; but he objected to the period, as being a peculiarly unfortunate one, at which that bill began to operate. It certainly greatly added to the distress. He knew many instances in which estates had been mortgaged, under then existing circumstances as to their value, for the purpose of providing portions for younger children; and the effect, under the change of circumstances, that had taken place was, that the younger children took all the profits of the estate, and nothing was left for the eldest sons, to whom it was intended the estates should devolve. His idea was, not that any measure should be adopted affecting public credit, but that the burthens now falling exclusively upon the landholders, should be equally borne by the other classes of society. A man might have 200,000l. in the funds, and might pay very little assessed taxes or poor-rates; whilst he, who had that capital invested in land, not only paid taxes and rates himself, but all his tenants occupying portions of his land, paid also taxes and rates for every part of it. This he considered an unfair apportionment of the burthens of the state, and one which pressed most heavily upon the landholders, and threatened extensive ruin. He was convinced that the original intention of the 43rd Elizabeth was, that personal property, as well as land and houses, should be assessed to the poor-rates. He was aware that there was considerable difficulty in assessing personal property to the poor-rate; but, under the circumstances of distress in which the landed interest were placed, he thought this difficulty ought to be encountered.
§ Ordered to lie on the table.