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OcTOBEa 7, 1854.] IK B BJS'A I) ©B. g^r ...
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WHAT. IS THE MATTER IN THE CITY? Somethi...
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SCOTTISH RIGHTS. Tira meeting to advocat...
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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Transcript
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.
Investment Op Sevastopol, Commercially. ...
Czar before- he waajfouncL out ; is > the * B ; umpleetiltskin . of Turkey , ' and there he stands , with Ms foot , in .- it—the , laughing-stock ; , of" the ¦ world . But what to do < mth ; him , M ia something to have caught a-genuine 1 Tartar . No animal is wilder or more difficult to catch safely .. "Why should he not he brought to England : and handed over to Professor Owen , as , a . refutation , of that accomplished and admirable
philosopher ' s limited notions of the subject of simious development ? But stay ! -France las deserved well , ; there is to be the Exposition of All Nations in 1855 : Russia , we fear , ¦ will be unrepresented at that peculiar congress ; why then should not this specimen , at once the raw material and prime St . Petersr "burg manufacture , be there installed !? Yes , Prance pud England , that is the admirable destination we suggest for your prize- ; only •—first catch your Tartar ;
Octobea 7, 1854.] Ik B Bjs'a I) ©B. G^R ...
OcTOBEa 7 , 1854 . ] IK B BJS'A I ) © B . g ^ r ,
What. Is The Matter In The City? Somethi...
WHAT . IS THE MATTER IN THE CITY ? Somethin g serious * is < amiss ; in the City ; , —a province-which includes Xiver-pool , Manchester , and . every other commercial centre of , the United Kingdom . On Tuesday , thje ,: failure of an extensive Liverpool nierehaaifc and ski p * owner is announced , contradicted , and reasserted-, but , on- " Wednesday , it becomes certain that his bills have been returned , though efforts are- made to prevent a final stoppage . On the " Wednesday , also ., it is known that the New York bills- of- another firnij which has speculated largelv in corn , have been , returned . The affairs , of a Maul
Chester house are tuader arrangement . Everybody feels the excessive pressure for money , and more of these disasters are anticipated . ¦ What is . the cause of it all ? " The bad . harvest , " crie 3 ,, one ; " Stoppage of the Bussian trade , " replies another ; " Over-production at Manchester , " says a Liverpool man ; "'Bail-way frauds at New York , and Liverpool infatuation for \ Yall-street , " answers Manchester ; " and the war expenditure , " roars the profound financial observer-j " Mr . Gladstone's policy , " shrieks the loaninonger ; and . tli , © list of causes , more or less , real , might "be continued almost ) indefinitely .
Our own explanation is that time is chiefly responsible . Our fast friends in commerce forget that , the clock has a fixed rate of going ;• that the globe cannot be sent round faster by the most pushing merchant . America is truly answerable for no small share of the calamity , especially in , Liverpool , and through Liverpool in London-, and America illustrates well the present consequences of fast tracing ; The pro < hictive powers of that country are enormous , her development rn . ir . a-,
culously rapid ; but still , neither in extent nor rapidity , are the powers of America independent of ratio , or-without limit . She acts as if they wore : hor private citizens spend at a more thaw aristocratic rate ; expecting to send their ; trado round the circle—which includes probably New York , Liverpool , Manchester , London , and Florida—in a given time : a hitch occurs ; there is a spoke in the wheol , and the fast and furious Phaeton falls . The "' pr incely'' merchant has calculated his
income- a few thousand dollars sliojeb ; he must have more , mul fast trading suggests expodionts better tlian accommodation bills . Ho is issuing some thousand shares iu a promising railway at a line price : why not sell a few hundreds inoro ? Ho deals iu cotton , and has plenty on hand : why not got up a rumour-that it ia a short crop , and bag "with plonty tho prk *© of scarcity ? There ia a scarcity of rain : why not trumpet " u , drought / ' amd . raise tho price of corn P These things htvve actually boon douro . Somebody Gt course Buffers ; Liverpool' biu-nn her fintgera ;
but the loss recoils on America ^ with doubly damaged credit ; The discredit aggravates a real difficulty . America imports Manchester goods ; , when ,, corn is . abuttdant ,., it . is a , good set-off ; ' and *¦ the reciprocal '' trjide , sayes , the necessity of exporting specie , to England . Tkus to America , grain is gold . ; and . this year the growing treasure is deficient . Manchester suffers by the stagnation in America : but
Manchester produces even through drought and deluge—she can force sales at low prices , and still specie must be shipped to pay her —not grain . Having carried her trade beyond her production , her expenditure beyond her income ., America is hard up for cash , " fails " here and there ,, and Liverpool totters , To some extent , th © saine story might , be told of Manchester men ^ -naerehants on their
own . account- —in- Australia ; , for the resident Australians have not rivalled , the Americans in , recklessness .. But the English , traders thought to make hay -while \ the gold * sun slione ; they exported , fast and furiously ; sales have heext declining , have "become slov ? y and now give way to stagnation-. Here also there is a spoke in the wheel of commercial circulation , and those who reckoned on returns prompt and punctual must wait- ^—though their bills will 1 not do so .
It is the clock that has been forgotten : the speculations were correct , except as a matter of time . There are the railways to foe made in America ; there is the valley of the Mississippi , with boundless granary powers ; there is the line of the Murray , with its innumerable flocks and crops 6 f the future , purveying the gold-fields with a surplus for England ; just . as there is a sounder state of production , industry , trade , and finance in
England than we have ever had . But commercial men ,. have forgotten their own , maxim pointing to the identity of time and money ; they have the assets to meet their bills , but not the time ; tke wheel is arrested by over spinning it ; and . a , few commercial carriages crash in the , race . That , is all . The ground is ? solid , beneath , and .-we shall . get . aver it / with .-out selling up either ' John , B , ull or Uncle Sara , or letting their faniilies come upon the pwrifth .
Scottish Rights. Tira Meeting To Advocat...
SCOTTISH RIGHTS . Tira meeting to advocate Scottish rights is the outward and visible sign , of a deep instinct . It means that men in most places are conscious of understanding their business better than it can bo understood by other people , elsewhere , and that they expect to . get on more profitably , more advantageously , and more honourably , if . they are loft to be their own agents ; that , they dissent from being nothing higher than the Co . of agents at a distance * In Scotland , for example ) , they
have particular objects and , particular modes of attaining those objects which wo in England do not understand .. We have hcaud ,- it , indeed , confessed that sin Englishman , has boen . known to make oatmeal porridge better on the banks of tho Thames thiui it could bo made by a Scotchman on the . banks of the Clyde ; but tho exception proves the rulo . It was a foreigner that spoke tho most perfects Athenian ; it is a Yorkshireraau who has become tlio most fervid Irishman : and it is
an Englishman , who , iu porridge , beats the great original . But it would be a bad speculation if all tho porridge had to bo brought to liowdon , thore to bo manufactured for Scotch breakfasts . " When thoy make rules for tho accommodation of Scotchmen , ifc could ,, undoubtedly , be planned uvuch better up thtn-tt in the north tlum it can in London ; and w © do not kwow . why wo ahould compel thorn to have theiM family ar » wg ; omonJis . transacted u , t ouk hoijidrqiMirtQi'Sv It ia truo that Scotchmen are brought to
_ . _—~ wa > .,,.. nran ^ mwfqnBaManK London for tb ^ . purpose * TJiey . - export the raw , material , from Scotland tQ < I / pn 4 qn , and 1 import the manufactured arjtjele in . the sh ' apq ' of statutes . But . this ia ra very clumsy arrangement indeed . In excuse , it , has been * said that English Members rarely interfere , — that if it is a Scotch subject , there is scarcely an English Member to be . seen in the House ; so that tl ^ e Scotchmen have , after all , the faculty ; of the manufacture , Wh y ^ then , should they be compelled to come up to
London to exercise that faculty for the am ' use * ment . of English spectators ? In fact , all Scotch laws might just as well be made in Edinburgh as in "Westminster ^ and better . The only practical / effect of which we are aware , in dragging the Scotchman down here , is to bring him into a more re ^ lax-ing climate at . tlio hottest season , of the year . This may account for the want of tone often observable in Anglq ^ Scottish statutes .. If the . men , can make the laws , why not make , them ; * '«< situ , under , the influence of a more
bracing atmosphere ? There ; isi also a risk in the English locality . Any member who chooses , can , raise . some obstruction to a Scottish , lawi au 4 is sometimes tempted to do so ,, upon divme groiancls , A ; Uoman , Catholic- , member can . put a spokfe in > thei wheel of a Presbyterian statute ; an' orthodox upholder , of " the Establishment " in London , which is " the bloody prelacy'' in . Scotland , can put , his thumb' upon a Scotch Education Bill , or render it so English in its form , as to become
intolerable to a Scotch public . If we are to admit the principle of letting . Hungary be for the Hungarians , Italy foe : the Italians , why not Scotland for the Scotch ^ as well as Ireland for the Irish , —and if you come tQ ; tha , t matter , " Yorkshire for the Yorkshiremen .. Indeed there is ; no end to the ^ folly which , eompels Parliament to transact , business in "Westminster- which could be much better done in the places themselves * The true rule for distinction between local
Government and central authority appears to be this : Every law which concerns only a certain district , and does not interfere with the , people outside , ought to be settled within the district—parish business within the parish , county business within the county , colonial business within the colony , national business within the nation , and then Pai'liament would have time to make proper laws , for the necessities of the whole empire . In the meanwhile if we must have Scotch , business down hero to do in Westminster , it would bo but common sense to relieve an
overtaxed Parliament by sending up some of our English business to Scotland . And for that matter , as Parliament xolll do the work of parishos , tho parishes might do the work of X ' iirlianiont . Let us than send tho promised Metropolitan Improvement Bill to Edinburgh , where thoy would no doubt secure for us ait once tho moat perfect laws of cleanlinoss and drainage ; and lot tho Ket ' orm Bill , for which wo have so long boon waiting , bo scixt down to tho sovoral parishes for instant completion . If is a question for tho Anti-CeMtrulitfation Union to consider . Having , aa we loum by their last report , * defeated Government on tho Board of Health Bill lust
session , juid substituted Benjamin Hull and local Hclf-government lor Chadwiuk nad centralisation , tho Union has really done something in this way of legislation . ^ 1 ' ovhnps it might ontortabi tho proposal of " swooping" n littlo local law-nmking for imperial huv-malvlng , witU tlio viow of wltiinttfcurjr oAvuting n rc-oxebango , bo tlmfc Ucadlo buwuciss r nny bo left to ' UomlLu , wid tuo Qucoa on joy hor own only . * i ' riutcsil Uy M « . , h > hn V . iUvnrd Tiuylm , of Utflq Qucun-hln . oc , IJucdld ' H-iini-lloldn , und oircuIiituU by Mr . Kit , tho boolirtuUor , of JMlingtoU .
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Citation
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Leader (1850-1860), Oct. 7, 1854, page 11, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/cld_07101854/page/11/
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