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TO THE MEMBERS OF THE CHARTIST COOPERATI...
M MS (ContmuciJ&m the Second Cohttnn}) %...
AND NATIONAL TRADES' JOURNAL. $> : w / j...
1 VOL. X. NO. 481. UMD(m ~ SATURDAY JANU...
THE NATIONAL IANDJN0 LABOUR BANK. Reckle...
LINES UY MALCOLM MACGUEGOR ON THE BtltTH...
Co #eaaers; & CorrcsBoitUcr. &
J. SnZET begs to acknowledge the receipt...
SUNDERLAND. The Chartists and members of...
The Root cp all Etil.—' How long did Ada...
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To The Members Of The Chartist Cooperati...
TO THE MEMBERS OF THE CHARTIST COOPERATIVE LAND COMPANY . My dear Children , Urt * ray intention to nave witt * " fm . f ° thing in addition to my last week ' letter , which w » * pushed ; fining conned j frightful state of poverty and d « tltu " t Seand lovely pariah , perhapsJ » -- ^ ™ heavenly spots the mind can . magme , W <«« , < thv WHTSTLER" hts afforded me such an THE TO THE FOUR
^• "SSpimb HIM opportunity oli W » J ^ derott 1 ^ 1 ° X H ^ V ^ ch I - 2 £ » tar tot . so , ofconrse , he had not , e * n £ e of the same date in the " Star , " and he had not at that time , received the lashing that James Trior , painter , g ave him in last ^ V ' Star ;'' nor , indeed , is it likely that he would be turnea from his MESS if he had . douht
Brig ht and the " Economist" have . no , c alculated upon the danger to their slave trade if , for £ 2 . 12 s . 4 d ., their slaves could purchase their o wn manumission , and at the same time somewhat loosen the rivets in the chains of others , whose labou r would become proportionately more valuable bv dininished competition . This greedy man , like m any others , too anxious to recommend themselves to their masters , has done too much for the money , and has done it in an untradesmanlike manner 5—he is like the devil ' s apothecary—DOUBLY DILIGENT . Perhaps you remember Baron RoHe ' s obser vation , when the informer Griffin stated that the Editor ' s only fault with him was , that he WAS TOO INDUSTRIOUS . " Gentlemen , " observed
? he ' just judge , " perhaps the Editor may think the SAME NOW , as OUR DILIGENCE NOT UNFAIRLY LEADS TO SUSPICION . " Then , in analysing the mechanism and workings of a conspiracy , that just man beautifully remarked , and it is woith repeating , " Gentlemen , in case of conspiracy , the guilty parties generally make choice of the most astute and artful men they can procure to carry out their illegal designs , and you will say , whether unsophisticated men like Pilling , and many others of the defendants , are of that stamp that would be likely to serve such a purpose , or whether it is net jnore probable that they acted of their own free will , and the more especially as all who have addressed you appear rather to glory in the part they hate tsken than to repudiate the charge . "
Never did Judge more completely sacrifice all party and paltry consideration to truth and justice , than did Baron Rolfe in giving expression to the above simple , but searching and sound truth . I shall now proceed to contrast 3 UMMERVILLE with Griffin , as regards his OWN INDUSTRY , and shall prove that Bright and Co . are conspirators , and the Whistler their accomplice . THE WHISTLER , in his first letter after visiting Herringsgate , was nauseously fulsome in his praise of the beauties of the spot , and BIG WITH HOPE in the success of so splendid an undertaking , " the first itep in the right direction the working men had taken . " I mentioned to more than one friend , Mr .
Clarke among the rest , that the source , the MANCHESTER EXAMINER—Bright's paper—was suspicious ; and that he might rely upon it , the OLD SOLDIER was only baiting his trap . In fact , the first Utter was too fulsome ; and it was against my wish , and only in compliance with that of the Directors , that I allowed even the extract to be published . Well , the second letter makes its appearance , and is mainly answered by Mr . Taylor ' s short reply in last week ' s Star , in which he wholly contradicts every assertion made by the DEVIL'S APOTHECARY . Next comes the letter upon which I am now commenting , and from which I select the following extract , as proof of the Apothecary ' s great , if not over diligence : —
" After further inquiries I got a book at the office , for which I paid haSf-acrown , on "The Practical U- n » s ; ement of Small Farms , by Fe & rgus O'Connor , Esq ., barrister-at-law . " At different booksellers ' shop ! -1 tried to get the other publications ot the company , and at last I satdown with such as I could obtain , and read them all . I soon perceived what the obstacles to the registration of the society had been , by tbe great number of great things which the society was to do besides the cultirotion of small farms . That the society was utterly unsound and worthless as a mere business speculation , was soon apparent . And though unsound companies are registered and put under the protection of the law , go far as giving their shareholders the means of rtdress firm their trustees and from one another , 1 doubted if the Chartist Land Company could be so
registered . " To resolve ' . thatdoubt Chancery Lane was visited , and Irom that locality I found my way to the office for the registration of joint stock companies in Sergeants * Inn , Fleet-street . At that place I was told that the company was registered . I asked to see in what form , for what purpose , and who of ita shareholders were registered . A book of indices was handed to me . I found the title " Chartist Co-operative Land Company , " and a number placed against it I reputed the number to one of the clerks , who said , " One shilling , if you please . " Whereupon I paid one shilling , and he , going to a shelf and finding the number on the back of a very tbin book , laid tbe book before me . It was a very thin book indeed ,
containing only four pages , and only one of tbe leaves being written , and very little being written on that leaf-a good deal less than should have been written if the Chartist Co-operative Land Company had been "jilaced under the protection of the law" to " give increased confidence to persons about joining the society , and to secure -due diligence and honesty on the part of the officers . " I shall come to the words atd nMnes which were registered before I quit the kfial I ranch of this subject . But I proceed now as I preceded then . Q . " Is this company legally registered ?" A . ' ; We cannot tell . " < i " If anything is omitted whieh should have been roistered , what will the result be ?"
A . " We cannot answer legal questions here . If anything is omitted , theact provides that heavy penaltie shall beincurred . You must consult tbe act of parliament providing for the registration of joint steck companies . " f . " Can I get the act here !" A . "No ; you can buy it at the Queen ' s printers ; or of the law stationers in Fleet-street " < l . '' What is the title of the act ?" A . * " An act for the registration , incorporation , and regulation of joinst stock companies . "
Ilesting which , I proceeded to tbe office of the Qnceii ' s printers , and paying If . 3 d . for the act in question , took it back to the Registration Office , ihowed it to tbe Registrar , and enquired ifthat was the act under which the Chartist Co-operative Land Company was registered , and he , looking at it , said it was . He added that if the company was not re-E' -teied in conformity to that act , they were liable toail the penalties set forth in it to prevent iteinint ^ euierit . I shall cow quote from those portions Kit * hick refer to the Chartist Land Compasv . "
Now then , reader , what think you of all that disinterested research , and all published in the Journal ° fan Economist , who will vote for anything you askhi min PROPER SEASON , except THE TEN HOIKS' BILL Now observe , he first goes to Herringsgate from Manchester , 200 miles ; he traverEeiihewholep laceYorfullthreehours , onawet , cold , peUiujrday ; he had heard all that he published in to second letter , hut withholds every sentence of it a the first—not a word about the fresh timber , and no w & ter , and bad roads , and drunken plasterers u > £ t hcdraak with in the Beer Shop ; no , he was f "ope-FULL OF HOPE , BURSTING WITH jyi 'E ; he doesn ' t go back to th « BUTTONLESS
UCKGUARD once ; no , the sympathetic , inncus youth goes to London , and gives you an tocount of bis enquiries , bot not a word of truth . No ; " i : <* r- hke , and Castles-like , and Edwards-like , tbe JJ MI SREPRESENTS himself . He did go to the p ° d Office , but he represented himself as a raagis-^ 'e for two Counties , with large landed estates , , lc ! l ue , proposed turning to the same purpose as * Company ' s Land , and wished for a copy of their eVitid all the documents connected with their HIL ANTHROPIC undertaking ; and for a copy of t r -O ' Connor ' s work on Small Farms , stating that fc *« intimatel y acquainted with me , O'Connor , as '' at Herringsgate , ihouch I nerer laid eyes on
To The Members Of The Chartist Cooperati...
the man in my life to my knowledge , although 1 sympathised with him , and made many bold speeches on his case , when he was flogged ; and more than once used language in his behalf which should bare insured a more straightforward course from him as regards anything I was concerned in . So much in proof of the conspiracy , and that THE WHISTLER is a hired spy ; and now to prove him in the concomitant character of INFORMER . He goes to the Land Office , and shame ! 0 shame to tell ! sree three gentlemen with THEIR BACKS to the fire on
a COLD DAY . He asks for the only work the Company professes to sell—the Rules—and he gets a copy—he then asks for a balance sheet , and he gets it , though the Company only professes to print it for its own members . He asks for other works , which he is told are out of print ; and then he asks for others , which the cold gentlemen told him " are suppressed , in compliance with COUNSEL'S OPINION , until the Company was COMPLETELY
REGISTERED . He then buys roy work on Small Farms , but he has prudently abstained from comment upon that ; friend Bright , no doubt , telling him that he had better not WHISTLE AT THE SPADE . Well ; he is rery inquisitive , and goes off to the Registration Office , and pays one shilling , and is banded a very THIN BOOK , just as thick , however , as it would be had it contained the mere PROVISIONAL
REGISTRATION of a RAILWAY COMPANY TO THE MOON ; hut this meddler knows that the poorer class like a great deal being said and written about them , and , therefore , they should understand that provisional registration does not infer the writing of a book , but the mere preliminary step towards COMPLETE REGISTRATION . Well , having paid a shilling , which is no doubt an item in his account per contra John Bright , he asks so many questions that the cold gentlemen in that office ,
like the weaver at Herringsgate , were too busy to gratify his curiosity , though CHANCERY LANE was visited to RESOLVE that doubt , as our critic stiles it . Well , that wasn t enough , bat off he goes to the Queen ' s printer ' s , and actually pays Is . 3 d . for the Act , though they GAVE HIM THE WRONG ONE , and back goes the WHISTLER , "And is this the Act ? " he says ; bursting with anxious solicitude for tbe victims . " Yes , " says one of the gentlemen ; and then " says I" and " says he "—
I have now traced this conspirator , spy , and informer ( if he could make anything bjr it ) , from Bright ' s lie shop through his maze and back again to the manufactory , and I ask any man of common understanding , to come to other conclusion than that he is a slavish tool employed by a slave owner , to do his bidding . Now let me tell him , and the reader , that the Act under which the company is provisionally registered , and will be COMPLETELY REGISTERED , was framed , not to aid informers , but to protect society ; and that , before he could
recover BLOOD MONEY , be should prove wilful neglect , ' , or peculation , or dishonesty , against the officers . I tell him more , that the laws of the rich are not framed for the protection of the poor , and still more , that they are not so framed , any one of them , as to protect society against INFORMERS , for , as has been observed millions of times , you may drive a coach and four through any Act of Parliament , and if so inclined ( which God in his mercy forbid ) I would undertake to prove neglect or noncompliance with Statute Law against every society in existence—but I should not like to return to
society with the brand upon me . And I tell the informer more , that every thing required has been complied with ; and the Company being in existence before being provisionally registered , and tbe law not allowing more than a stipulated amount to be raised on each share , the amount of shares has been altered to meet the law , but not to affect the members . He forgot that , where he hoped to prove neglect , ho was establishing vigilance , as he tells us
that the COLD GENTLEMEN had suppressed some documents , in compliance with the provisions of tbe Statute . And now it is my duty to tell you , that it is your duty to put us and yourselves , as speedily as possible , beyond the reach of this and all other CONSPIRATORS , SPIES , and INFORMERS , by furnishing the Directors , WITHOUT DELAY , with the names , occupation , and place 0 / abode of every member .
I always told you that enrolment or registration would hamper or perplex us—now-you see it . You asked for it . The want of it gave our enemies a handle , and I resolved that I would not be thwarted by charges of dishonesty or concealment ; but if the members had been left to their own judgment , they never would have required security beyond confidence in me , though all their property was vested in me and MY HEIRS FOR EVER ; well-knowing that all their property would be conveyed to my heirs , as their trustees , to execute the several trusts
conuiiioned with them . Thus I have explained all to you . It is now three o ' clock on Wednesday morning . I am the only one up in the house , after having walked and re-walked every field of Labour ' s second estate , and at this hour of calm reflection I am not thoughtless of the stupendous responsibility I have imposed upon myself . I know that , at three to a family , THIRTY-SIX THOUSAND little children
and their parents are , though sleeping , DREAMING confidence in me . I know that I would rot in a BASTILLE before I would forfeit that confidence or lessen their scanty bread by a single crumb . I know myself , and fee ! determined to go on in spite of letter-lord , slave-mast : rs , CONSPIRATORS , SPIES , and INFORMERS ; and I envy not the coldblooded reflections of the cold-blooded monster who , for hire , would write himself down a hypocrite .
I travelled here on Tuesday with REBECCA and my old bailiff and family , who never saw a steamer before ( as he terms the train ) , and already all have conspired against us , except the elements . We have FIRE , AIR , EARTH * and WATER , which they cannot keep from us ; but the owner of the principal stone quarry has forbid his tenant to sell us stone ; and the owner of the barren sand-pit , open to all for a century , will not allow me to have sand , nor will they allow us to have stuff for making roads ; and I learn that the farmers will not send their teams to work , and r oy neighbour
threatens to stop up a HIGH ROAD to prevent access . Read that , WHISTLER , and chuckle ; but read this and tremble ! I can get the best bncks in England for about £ l . 5 s . a thousand—that is , 17 s . a thousand cheaper than at Herringsgate . I can purchase carts and horses , or would wheel the bricks in a barrow . I have FOUND SAND ON THE SPOT , and in six hours from this time , I will have a clay-kiln on fire , burning clay to make roads—the finest material in the world . So , TYRANTS—I DEFY YOU . ' !! INFORMERS — I DESPISE YOU !!!
Chartists ! the man who has scoffed at your prin . ciples has hired a spy to break up the movement that would give to each of Labour ' s sons a nest and labour-field . Slaves ! tbe master who makes money ( Continued to the Sixth Column . )
To The Members Of The Chartist Cooperati...
( ContmuciJ & m the Second Cohttnn }) % 4 % j of your infants' blood , and would sacrifice his seat rather than untrammel them , asks for YOUR VOTES ! Land members ! Bright has hired a tool to ruin your movement , and insolently relies upon your support . Voters ! oppose him ; non-electors ! hoot him from the hustings . Don ' t believe him , if he disowns the «» Examiner , " he is the PRINCIPAL PROPRIETOR ; it speaks his sentiments , and mug be opposed to ) ours , KICK IT OUT OF EVERY HOUSE OF RESORT . The Informs HAS NOT ACCEPTED MY CHALLENGE , he dare not , he cannot , relr upon my countrymen now to MURDER ( ContmuciJ & m the Second Cohttnn }) % 4 £ j of vour infants'blood , and would wwrifiv * i >; s teat
m ? . My children , rejoice in the opposition all are offering me , else I might grow dull , and tame , and inactive . At the next election , the SPIT AND THE LEG OF MUTTON will be our watch word and our CRY , and let confident tyranny presume as t may , I tell you , that , when that time arrives , we will be better prepared and more resolute than our enemies may suppose . Our first duty is to strengthen Buncombe 5 our next is to weaken our enemies . Bright is one of our greatest . Good night . Ever your faithful friend and bailiff , Feargus O'Connor .
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And National Trades' Journal. $> : W / J...
AND NATIONAL TRADES' JOURNAL .
1 Vol. X. No. 481. Umd(M ~ Saturday Janu...
1 VOL . X . NO . 481 . UMD ( m ~ SATURDAY JANUARY $ 1347 . Flre ™« ySii « . . ; g ' ¦ ¦ < . , Fire » fclllliig « and Sixpence per Q , lniter
The National Iandjn0 Labour Bank. Reckle...
THE NATIONAL IANDJN 0 LABOUR BANK . Recklessness , want of economy , indifference of the doubtful future during the prosperous present , hare ever been the most unanswerable charges brough t by the wealthy , the wily , and the fortunate against the labouring classes . We are not prepared to defend this wholesale charge in the abstract , while we contend that the want of thriftiness evinced by the many is a consequence of our institutions , both commercial and political , being framed and altered from time to time for the convenience , security , and protection of the hasty made capital of the wealthy , rather than for the accumulated savings of the daily labourer or slowly thriving shopkeeper . For instance , our giant trade and commerce preclude the possibility of the poor man becoming a competitor with the riclfcpeculator , while our monetary system rejects him as an ally from the impossibility of qualifying himself as a partner or participator from his daily or
weekly savings . The Savings Bank becomes his only alternative , the only depository for his daily or weekly parings , and " from the fact of this department bring his only source , the government charges a large profit in diminished i « terest for the convenience afforded by the institution , For instance , the speculator with thousands , or even with hundreds , in the commercial or money market can command the highest rate of profit or interest , while the poor man is reduced to the alternative of being his own depositor without interest , or accepting the highest rate that his gradual savings can command . Hence the man with a thousand pounds may secure four per cent , upon mortgage , the man with a hundred pounds something over thres per cent , in Consols , while the poor accumulator during the process of sating , and who has not a sufficient amount to take advantage of any of these securities , receives no more than £ 2 . 18 s . per cent , secured upon his own industry and the dissipation of his thonghtless fellow-labourer . He is reconciled to this lower rate of
interest—Firstly . —By the fact that it is the only market open to him .- Secondly . —That it presents security . —Thirdly . —That it guarantees the power of with drawal in seasons of necessity , but even this power is restricted by conditions sometimes harsh and inconvenient . - Thus we establish the value of co-operation without industry at one pound two per cent ., that being the difference between the rate of interest received by the poor saver and him who can command a sufficient amount to insure the highest rate of interest . We have been reminded to surfeit that the glory of England consists in the equal opportunity afforded to all in the market of speculation . We admit the fact , while we assert that the sun of England ' s glory would speedily set if all men were mete agents for the transfer of property , and none were producers of property . And it is in order that tbe latter class , which will ewrbetbe large majority , may beamed with the power of co-operation as a means of placing them upon an equality in point of protection with the former clays that we advocate the principle of co-operation , aiid propose to establish the only medium by which it can be efficiently carried out— " ' . The National Land and Labour
Bank . We may be told that Joint Stock Banks , Railway Companies , Mining Companies , Steam Navigation Companies , and all other undertakings introduced to the world with a fascinating prospectus establishing a fictitious amount of shares , and a mere nominal amount of call , present the desired opportunity to the small capitalist . The result , however , of attempting to engraft this fascinating reality upon an unheeded fiction , has been the ruin of thousands ; and the effect has been as follows -. —Many a poor man , jumping at the promise of high interest , and unscared by the phantom of future calls , has paid the required deposit , which an inconvenient call compels him to sacrifice altogether , or preserve as a forlorn hope , at the expense of future contributions , until the society ' s affairs are wound up , and he finds himself liable to all losses ; a few wily concoctors and solicitors taking his crippled child to nurse ; and thus fattening upon his credulity . Hence , we show the simple value of Co-operation without industry , while we assert , without fear of contradiction , that the carrying on the necessary operations of trade depending upon individual industry , is not restricted to three , four , fire , ten , or even fifteen per cent . Indeed , the value of capital can be best appreciated by the enormous amount of wealth that its possessors have been enabled to accumulate out of hired labour .
Let us illustrate this position . A tenant holds a hundred acres of land at one pound an acre , and dear in its present state . It will require £ 500 , or £ b an acre to drain it , and then it becomes worth £ 2 an acre—thus returning the tenant twenty per cent , upon the expenditure of £ 500 , so that , had he given fifteen per cent , for the capital , he would still be a gainer of five per cent , by the transaction ; while , through that amount of expenditure in labour the district shopkeepers would be benefitted , through them the domestic manufacturer and merchant , and , through all , the government . But this source of speculation is stopped by the landlord ' s indifference to benefit his tenant , and the tenant ' s indifference to benefit the landlord ; whereas if it belongedto the occupier the work would be done . But how much more pointedly tbe fact will present itself to the reader , when the capital is applied to enable and encourage the small husbandman to prosecute his own industry . The summary of these observations is that
A Nation ' s Greatness 's better secured by individual prosperity than by commercial traffic , which must restrict industry . The duty of a government is to increase the national resources of the country to the highest state of cultivation they will admit of ; and tho way to insure this national good is , by the application of free labour , and the equitable ( NOT EQUAL ) distribution of its produce ; while the error of the present system is , that those who possess capital have the power of resisting the cultivation of our national resources to that particular standard which insures them the largest monopoly of the produce . We hold it to be an indisputable fact that the application of free labour , which means the labour of the small proprietor to the land , the cultivation of our mines , minerals , and fisheries , can alone developethe national resources , and at the same time establish a satisfactory standard of wages in the artificial labour market , while the higher rate superinduced by well requited industry in the natural market , could be borne by the manufacturer , the merchant , and trader , by the incalculable impetus given to domestic trade and commerce , through the increased consumption of the free labour class .
The industrious man who has contributed a long life s accumulation of property for others must start at theannouncement of our present prime minister : — " That the criminal law is a problem yet to be solved . ''— " That the sanatory conditioa of the people is miserably deficient , " and " Tbat our whole system of education requires deep consideration and improvement . " Now we hold that governments , and governments only , are answerable for the law ' s inequality and imperfections , for sanatory deficiency and educational regulation ; and we further hold that free and well-requited labour would render our criminal law , now a problem , if not obsolete , at least a thing of rare application to an improved and moral society . That the free labourer can best educate his own children , ventilate his own house , and preserve his own and family ' s health . In the free labour mar . ket we estimate a man ' s labour cheaply , very cheaply , at £ 50 per annum , and thus , if we have a million of paupers whose strained labour is now worth £ 10 a year each , the nation loses £ 40 , 000 , 000 per annum , added to an expense of seven millions per annum wrung from the labour of the industrious , for no other purpose than to keep up an idle reserve at other people ' s expense , for the capitalist to fall back upon as a means of reducing and keeping down wages in the artificial market . Here then is a national sacrifice to class gain and individual monopoly . In order , then , to illustrate our plan for creating a free and independent labour class , whose industry shall be applied to the cultivation of our national resources , we propose to establish The National Land and Labour Bank
upon the following principle : —viz . That it shall consist of three departments;—a Deposit Department ; a Redemption Department ; and a Sinking Fund Department ; and we shall now treat of those several departments each under its proper head .
Deposit . The Deposit Department to be open to all who wish to vest their monies upon the security of the landed property of the National Co-operative Land Company . and bearing interest at tbe rate of 3 J per cent , per annum . The capital deposited to be regulated by the fallowing scale . —that is to say , —that for every £ 60 payable as rent-charge by the occupants , over and above the amount necessary to pay the interest of £ 4 per cent , on the Redemption Fund , the directors will be empowered to receive £ 1000 , thus leaving a sinking fund in this department , over and above the compsny ' s liabilities , of two and a half per cent . | Suppose , for instance , an estate producing £ 600 a year over and above the Company ' s liabilities of £ 4 per eent . ( upon the amount
in the redemption department ) to be occupied by the members of the company , who will each have received a conveyance in fee of his allotment , subject , to a rent-charge proportioned to the purchase money and outlay ; upon this estate , conveyed by the trustees as security to the bank , the directors would be empowered to raise £ 10 , 000 , and would be liable to £ 350 a year interest at 3 p e r cent , upon the borrowed capital of £ l 0 , 000 Each depositor of any amount not exceeding £ 10 would be entitled to draw that amount on demand . A depositor wishing to draw any amount from £ 10 to £ 20 , must give one week ' s notice . From £ 20 to £ 50 , a fortnight ' s notice ; and from £ 50 , to any amount , one month ' s notice . The amount of deposit at any one time not to be less than two shillings and sixpence .
Redemption Department . The Redemption Department to be open to the members of the Land Company , and who , whether occupants or shareholders , will be entitled to deposit their funds in that department upon the following conditions : —• That each shareholder may deposit any amount not less than threepence at one time , and for which he shall receive interest at the rate of four per cent , per annum . This fund will be applicable to the purchase of Land or fining do wn of the occupants' rent-charge , at the rate of four per cent ., or twenty-live years'purchase—that is , that a depositor having £ 25 in the redemption Department when he is eligible for occupation , will be entitled to a reduction of £ 1 per annnm from his rent-charge—that is , the member who , if not a depositor , would be liable to a rent of £ 8 a year , will , when he has paid up £ 25 , be entitled to receive his allotment at £ 7 rent . We state £ 25 , but the depositor of any sura under that amount , down to £ 5 , would be entitled to apply his deposit to the reduction of his rent at four percent . The additional half per cent , being guaranteed in consequence of shareholders who deposit their monies in the Redemption Department not being allowed to withdraw more than one-half the amount deposited , and being obliged to give a month's notice before they can draw any portion of their deposit from that department , which however would be equivalent to ready money as a transfer of the deposit less the month's interest ( the lender receiving the interest ) could be effected .
Sinking Fund Department . The funds of this department would consist of two and a-half per cent , in landed property over and above the liability of three-and-a-half per cent payable as interest to the depositors . The profits from this department to be added to the redemption department , and equally applied to the pur chase or reduction of the rent of shareholders who had been depositors in the redemption department ; and to be applied in aid of the location of the poorer occupants , to be repaid by them in easy and convenient instalments . We shall now proceed to consider the LIABILITIES AND CONTINGENCIES consequent upon the deposit department , and the Company ' s means of meeting them . We will presume that , £ 5 , 000 , or one half of the whole sum in the deposit department , was liable to be withdrawn on demand . The Company should , consequently , be prepared with that amount , to meet any contingency , and which it proposes to do in the following manner ; that is to say . by the application of the Company ' s floating capital for carrying on building and other operations , and which would be always vested in a Bank , paying two and a-half per cent , as at present , and would be constituted of funds paid upon account of shares , and not belonging to any of the three departments . The remainder of the funds in the several departments would be applicable to the purchase of land , erection of houses , and location of occupants .
JSxpenses . t The expenses of the Banking Department are amply provided for by the payment of one shilling per year , per share , payable by the shareholders in the Land Company , and the surplus in the several departments to be applied to the benefit of the shareholders upou the winding up of the section to which they belong .
Mode of Securing the BEeans of Meeting Liabilities ,. The Land Company proposes to locate its members upon two acres of land which shall have cost £ 18 . 15 s . per acre , or £ 37 . 10 s .: to erect a house which shall cost £ 30 , and to expend in improvements , and give to the occupant , the sum of £ 15 , making a total of £ 82 . 10 s ., audfor which preliminary expenditure the Company charges £ 5 a-year ; and five per cent upon all monies above that sum expended in the purchase of the Laud and the erection of a house ; that is , if the land costs £ 30 an acre instead of £ 18 15 s ., and the house £ 60 instead of £ 30 , the occupants will pay £ 5 per cent , upon £ 22 . 10 s . the additional price of the Land , and £ 5 per cent , upon the £ 30 , the additional price of the house , making a total increased expenditure of £ 52 . 10 s ., thus making the rent of occupant in the latter case £ 712 s . 6 d . per annum ; the same scale being applicable to any priced land and any priced house in a descending as well as an ascending ratio—that is , if land shall be purchased at a less amount than £ 18 15 s , an acre , £ 5 per cent , in rent shall be deducted from the reduced price of the land . Suppose , then , the occupant , whose land shall have cost £ 30 an acre , and whose house shall have cost £ 60 , and who shall have received £ 15 capital , that occupant will have cost the Company £ 135 , less £ 2 10 s . the original amount paid for the share—thus making the Company ' s expenditure £ 132 10 s . without taking credit for any portion of the £ 15 capital expended in operations of husbandry or other improvements which increase the value of the holding . For this £ 132 10 s . the Society receives £ 7 12 s . Gd . in the shape of rent-charge , or within a fraction of hi per cent , upon the outlay , without any margin for the increasing value secured upon the expenditure of a man and his family ' s labour to that amount of ground . In the case of a man holding four acres of ground , and whose house would cost £ 80 , the Society ' s profit would be reduced to about 5 i per cent , upon the outlay . This scale shows the equity of the standard upon which the rent of allotments has been established , and , perhaps , may be met with the assertion , that it is a high per centage upon the outlay , and which assertion we meet thus—Firstly , —Without eo-oparation the occupants could not procure a single allotment . Secondly , —An individual carrying out the scheme would charge rent according to the retail value , amounting to about £ 15 per cent ., regulated only by the convenience and desi-e of the poor occu pant to have a field whereon to expend his own labour . Thirdly , —The individual would not convey the convenient allotment in fee , and consequently the occupant would be liable to a periodical increase of rent as a tax upon his own industry . Fourthly , —All profits consequent upon saving of rent over interest is divided equitably amongst the several shareholders . Fifthly , —A small proprietary class is the only possible means by which the fair standard of the price of labour can be established in the artificial market . The only means by which poor rates and workhouses can be made unnecessary ; The only means by which the national resources can be fully dereloped and profitably cultivated ; The only means by which famine—sare tbat which is the will of God—can be averted ; The only means that can render man indifferent to foreign production ; The only means that can give an impetus to home trade and home industry ; The only means that can secure a national militia , who will fly to the cry of " My cottage and my country are in danger !"; The only means by which education can be encouraged , health secured , and violation of the laws of society , be considered crime The ' only means by which the arts and sciences of Britain can be made to vie with those of any other nation upon earth . The only means by which the good in each manjnavbe developed , and his evil propensities kept in subjection by the wholesome chastisement of public censure and disapproval . Sj ^ . "" ~ ~~ — -
Lines Uy Malcolm Macguegor On The Btltth...
LINES UY MALCOLM MACGUEGOR ON THE BtltTH OF K FMST C 1 HLJJ .
The Jiop < s of being a mother , The joy of-being a wife , Tbe wish to add another To the running stream of life ; The-pride ! the painful pleasure When the mother seen her child , Nq other heart can metwuve , Jtiseestocyrun wild . Is it son < rt daughter , nurse ? Is it Jikv its father t Can auub a pleasure b » a cuisc 1 'TisGod ' s riiitinction rather ;
And when the little helpless sucks There comet a utreatn of fresh delight , The thought of lambs and chicks and ducks , To babies , the most pleasing sight . All thought of other csrc Is lost , As in her arms her treasure lies , Cheaply purchased atti-. e cost Of labour's pangs and labour ' s cries . The little hand Is soon held up And kitti'd , and kiss'd , and kiss'd again , Sweet Joy still rising in tbe cup , No thought of past or future pain .
And then the father , gently moving , Stands beside tbe bridal bed , Fond at evxr and as loving . As when he courted , woo'd , and wed . Soon the little urchin prattles , Then stumbles , tumbles , falls about . Laughs awl plaja wixh tojs and rattles Till brotber puts her little nose out .
Co #Eaaers; & Corrcsboitucr. &
Co # eaaers ; & CorrcsBoitUcr . &
J. Snzet Begs To Acknowledge The Receipt...
J . SnZET begs to acknowledge the receipt of 19 , for Mrs , Jones , and la , towards tbe debt due to Mr . O'O m nor , from Mr . Charles Merchant , also Is . 2 ^ 1 , from Mr , Kgget , for the Petition Expenses . All persons hold , ing petition sheets and subscription books for the National Petition , are respectfully requested to lose no more time is obtaining signatures to the one , and money for defraying the expenses to tbe other , —which they will pleasu to forward to J . Swest , News Agent , Nottingham . Notice . —Tbe LALooaitt . —We have a great number of orders by us for the Labourer , which we cannot oon . reuieiitly supply , without subjecting the parties send , ing to great expense in carriage . —IN FUTURE ALL
ORDERS FOR THE MAGAZINE , MUST BEGJVEtf THltOUH THE LONDON BOOKSELLERS , instead ot being sent to this office . Mb . A . Leiohtoh . —Uaworth . —Your letter shall belaid before Mr . O'Connor , on his return to town . Several other communications nimt stand arer for his uupec . tion . Tub AMeNDED Rules of the Chartist Co-op ; rative Lund Company are not yet ready . All orders must be ad . dressed to the Company ' s Office , S 3 , Dean Street , Soho . Ma . CtRandison , Linlithgow . — The plate shall be sent . Mb . RoBDBTao » ,. ' , Alva . — Write to the Secretary of the Geneial Post Office , if tbe Post master at Alva , again
detains your parcel . Mb , Dbumkomd , Preston . —Me do Hot print any in time for the Country parcels . W . Hilton wants w » know where he can vvovuyo a copj of Colonel Maceroni's book on " Street Fightiiig . 'j Josem Oregvrt , Helper . —Yes , in full by tlie person taking out the order . A Yebitabie Democrat , and X , Y . Z , — Wii cannot answer your questions . E . H . T . —Birmingham . —Next week . J . IIabkness , Edinburgh . Received . E . Mitchelsos . —Inadmissible . A . Walker and J . Beattie . Received too late for insertion this week . IV . Pjiakeland . Iteceired .
Cftaitfest itttclliffentt *
Sunderland. The Chartists And Members Of...
SUNDERLAND . The Chartists and members of the Land Company held a New Years' Festival on tbe 1 st inst . Tho meeting was addressed by Messrs . Irvins and Dobbin , A very happy evening was passed , PRESTON . A special meeting of the Preston branch of the Chartist Co-operative Lind Company will take place on Monday evening next , Jan . 11 th , at Mr . Hool ' s . Temperance Hotel , Lane-streot , to elect auditors and scrutineer , in accordance with the Rules issued by the directors .
BOLTON . A public tea party and festival was held bore in ( lie Chartist Association Room on the evening of Now Year ' s Day , in honour of F . O'Connor and E . Jones , Esqrs . The room was tastefully decorated with evergreens and portraits of patriot * of by-gone days , and thoie of the present . After tea the tables were removed and tbe , amusements commenced which were Kept up until early in tbe morning ,
LONGTON . A few friends to popular government havo recently opened a subscription , which Uaviug already amounted to £ 12 , tliey resolved to forward the same to the Central Registration and Election Committee , to a > d and assist in returning to the ensuing Parliament twelve men imbued with talent , energy , and public principle , sufficient to enable them to amst T . S . Buncombe , Esq ., in effecting the cu . francb . isa . ment of the millions . Books for the reception of subscriptions , of any amount , are still « pen at the house of Mr . Isaac Hammersley , York-street , where the committee meets every Sunday afternoon , at halt-past two o ' clock .
TO THE PEOPLE , Dixon Hotel , Manchester , Jan . 6 th 1847 . Dear Friends , Some very annoying mistakes bare occurred ia the arrangements announced for my lectures , by which great inconvenience , and loss of time have rnsuad . No answers have been sent ma from , Halifax , UocUdale , or the Potteries . Ilence any disappointment whieh may hare boenfett should not bo attributed to negligence on my part . I have always endeavoured to be punctual to att appointment . I regret tbe misunderstanding , as to Sheffield , and will do away with that by lecturing thera on Sunday the 17 th , and Monday the 18 th , if ihese dayg will suit them .
I will also remeiiy the disappointment at Rochdale by lecturing there on Sunday , the 10 th , without fail . I have accepted tho invitations from Aceriugton , and Blackburn , and will lecture in the former town , on Monday , the Iltb , and in the latter , 011 Tuesday , the U'tli . I propos * visiting Preston , on Wednesday , the lSth , as a friend informs n » a room can bo had . 1 can also be at liberty to deliver a lecture In Chorley , on Thursday , the Uth , I hope the above arrangements willpiwesa . tisfsctory to the people , and beneficial to the cause . Answers had better be forwarded in all cases to me if up to Monday , the Uth , at Dixon ' s , Great Ancoat-otreet , Manchester , or to the nbore mentioned places in Lanca . shire it'later . Faithfully yours , in the cau « e . P . M . M'DoDAIl .
Cm LOCALITY . On Sunday evening a meeting oH this body took place , Mr . Caughlnn in the chair . The necessity for more energy and vigour on the p » vt of the Chartist bodv was brought forward by Mr . Tucker , who was of opinion that tho L » ud movement was diverting public attention , trom the Charter agitation . Ho moved the following resolution which was carried : — " That we the members of the City Locality , call upon th « democrats of those places visited by Messrs . M'Grath and Clark during their recunt four , to say whether the interest of the Chartist movement was attended to by them . "
The Root Cp All Etil.—' How Long Did Ada...
The Root cp all Etil . — ' How long did Adam remain in Paradise before he sinned V asked an amiable cara sposa ol her loving husband . ' Till ho got a wife , " answered tae hnsbaad calmly .
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Northern Star (1837-1852), Jan. 9, 1847, page 1, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/ns/issues/ns2_09011847/page/1/