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COLOSSEUM
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TO TAILORS. Jast published, LOXDOS and P...
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TO TAILORS. Byap-Tobatiou of Her Most Ex...
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INDEPENDENT ORDER OF UNITED
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eKEAT BRITAIN MUTUAL LIFE ASSUItANCE SOC...
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Age 20.! Age 25.1 Age SO.! Age 40. Age 5...
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Thus, for example".—A person in Ibe twen...
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TO ALL WHO CAN'T PAY
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TO TIIE EMBARRASSED.—IMPORTANT. THERE.ar...
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THIRTY-TWO PAGES FOR ONE PENNY. THE LOND...
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MINERS' ALMANACK, FOR 1S4G By Mr. William Damells.
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COMMERCIAL BUILDINGS, LEEDS. ON Monday e...
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CITY CHARTIST HALL, 1, Turnagain-lane, S...
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JUST PUBLISHED, In one volume, foolscap ...
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"THE BEGINNING.OF THE END." THE "BANK-SC...
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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.
Colosseum
COLOSSEUM
PAT ROVISED and visited by her Most Gracious MAJESTY and bis Royal Highness Prince ATHEIST Ol'E . V DAILY from Ten nil Six . Proceed by the l ' . « n . l confirmed fcy « v « y -visiter lobe the most perfect triumph of Art in its various orancbi * , both by Day and Sight , that has -ever been achieved . Equal to six exhibitions . Tlie Glyptothcca , onttinlng works of the first artists ; Mont Blanc and Mountain Torrents , Supeib Conservatories , Gothic Jlriary , Clastic Ruins and Fountains , Panorama of London , re-paralcd WMr . ranif , Ac . Admittance , Ss . Children , half-price . The Stalactite Caverns , the most magnificent of all tlie temples winch nature has fcoiltfor & erself in tlieregions of night , Is . extra .
EVENING EXHIBITION , Open from Eight till Eleven , consists of an entirely new panorama of London by night , erected in front ef the day Tiicture , the largest iu the world , comprising 4 C , G ( I 0 square feet , projected and carried out by -Mr . W . liradwell , and painte d by Mr , Hanson and Mr . Tclbin . The Caverns , 3 Jo nt Blanc , and Torrent by night , the Glyptofheca and refreshment 6 aloon , briU \ autlj Ulumiwated , forming a promenade perfectly unique . The whole exhibition -designed by Mr . BradwelL Admission at the door 5 s . . each . Family tickets to admit four persons , at 4 s . each , to be had at the North Lodge , Colosseum , from Ten to Six ; and at all the principal Librari- -s and Musiesellers .
To Tailors. Jast Published, Loxdos And P...
TO TAILORS . Jast published , LOXDOS and PARIS FASHIONS for tic Autumn I and Winter , 1845 , by T . GOOD , C , Conduit-street , . Regest-street , London . The moBtsupeib plate ever pub- - fohed—19 figures , representing the most fashionable garments , particularly the new style paletot over-coats , both single and double-breasted , six pattenisof garments—viz ., two sizes of paletot , two dress coats , the Parisian style -vest with skirts , and shooting vest ; full and particular report , & c , & c . Trice 10 s . Cd . for the one season , or 20 s . . for one year , including an intermediate report , summer and winter , with every necessary information throughout ins year .
A splendid Livery Plate , warranted the most useful in * he trade ; seven patterns of garments , and a book of description , A-c . I * riceonry 12 i . Two Juvenile Plates—JJo . 1 for spring and summer , No . 2 for autumn and winter ; price ( with the fashions or livery plate ) , 4 s . each . The work on Cutting , in numbers at Is . 6 d , each , as usual . Scientific catting taught , and garments or patterns cut for the trade . —Obserre the address , as above .
To Tailors. Byap-Tobatiou Of Her Most Ex...
TO TAILORS . Byap-Tobatiou of Her Most Excellent Majesty Queen Victoria , and His Uoyal Highness Prinee , Albert . THE LONDOXaud PA HIS FASHIONS for Autumn and Winter , 1845 and 184 G , ready early in October , fcy READ and Co ., 12 , Hart-street , Itloorasbury-square , London ; Bergtr , Holy well-street , Strand , London , and maybe had of all Booksellers wheresoever residing ; a very superb Print , representing the most splendid exhibition in Europe , an Interior View of the Colosseum , . Begent ' e-park , London . This exquisitely executed and beautifully coloured Print will be accompanied with fulljozeDress , Frock . and Riding Coat Patterns ; also , Patterns « f the New Fashionable Polka Frock , and Locomotive
Siding Coats , a » d an extra fitting Faihionable Waistcoat . Pattern , with every part complete , and a full explanation of the manner of cutting and making them up ; also 9 « xtra plates , including 3 sectors , i for cutting fancy coats , 4 for waistcoats , tlie other for cutting Coat Collar Patterns , in proportion , for all sizes , so that any person jnay complete the whole in the most correct manner , without a previous knowledge of any system of cutting whatever . Price ( as usual ) the whol « , 10 s ., orp » st free loany part of England , Ireland , Scotland , and Wales , lis . System of Cutting , 25 s ; Patent Measures , 8 s the set , Pattern ? , post free , Is each ; to be bad of all booksellers . For particulars , see " Towusend's Parisian Costumes , " - "Gazette of Fashion , " "London and Paris Magazine of Tashion , " the ** London and Country Press , " ic .
Independent Order Of United
INDEPENDENT ORDER OF UNITED
BROTHERS ( LEICESTER UNITY ) . IMPORTANT TO WORKING MEN . SEL F-INTEUEST being the first law of nature ( and through lift we find this the one grand ruling principle—neither is it wrong , if not carried out to an improper extent } , ia these days of incertitude it behoves every man to have a thought for tlie future—to make some provision for the time of sickness , want of employment , and such like contingencies to which man is liable . The various sudeti . s formed fortius purpose are amongst the foremost , established by the philanthropist of our day ; the greatest good has accrued from them ; but the most prominent stands tlie various Secret Orders ; tlie principle on which they are bound gives them a superiority above all other similar institutions . Various are their titles and significations , and various are the modes of
tarrying out their designs ; bnt perhaps there are none which shine so conspicuous or more beneficial than the -IXDEPEXDEXT OllDElt OF UNITED BROTHERS . " . It ie au institution that mil be found to possess in every ¦ way equal , and in some respects superior , advantages to -any other society of its class . Its laws being based upon the pure principles of Democracy , and past experience riiaring taught the lesson that public-house meetings tend . rafter to injure tlian otherwise , the members of this Order arenotallowed to hold their Lodges at such places ; neither are intoxicating drinks allowed at them ; but , on tlie other baud , they arc not restricted to tcetotalism . This Order lias met the feelings of a great portion of our -imputation ; hence its rapid progress . To such , then , n-lio nidi lo appropriate their money to a really useful jmrpose , who wish to make a provision for sickness and distress , and to be conveyed in a decent manner to that "bourne from whence no traveller returns , " without the aid of a parish , « r of being under any obligation to friends or charitable persons , this Order aftords every facility .
The regular contributions amount to 9 d . per fortnight , for which a member , when sick , receives 10 s . periveek ; £ 10 is also given on tlie death of a member , and £ 5 at the death of a member's wife ; and , by paying a small addi- fiooal contribution , the gifts at the deaths will be doubled . All necessary information may be obtained by applying to tlie following persons , viz . : — . John Wiudley , printer , Church-gate , Leicester . William Culver , Bryden-street , ditto . ^ DavidAbell , brushnianulacturer , Westsate-street , Gloucester , -Edward Jennens , Freeman-street , Birmingham . "William Parker , taHor , Redditch . Thomas Knight , Hundy-street , Derby . "William Robinson , Sbearsbj , South Leicestershire . William Clarke , sail cloth manufacturer , Newark , "William Pike , tailor , Porter-street , Sheffield . Samuel Boonbam , Nottingham . And at the various Lodge-bouses in the differentjpirts of the country .
Ekeat Britain Mutual Life Assuitance Soc...
eKEAT BRITAIN MUTUAL LIFE ASSUItANCE SOCIETY , 14 , Watekioo-piace , London . J-1 H . ECTOSS . The Chisholm , Chairman . William Morley , Esq .,-Depu . « i Chairman . Henry S . Barber , Esq . James John Kinloch , Esq . JobnBrightniaii , Esq . Henry Lawson . Esq . Francis Brodigan , Esq . Henry Penny , Esq . James Wm . Deacon , Esq . Robert Power , Esq ., M . D . Alexander R . Irvine , Esq . The Rev . P . . Johnson John Inglis Jerdein , Esq . Vickery , A . M . AtDITOSS . CD . Rule , Esq . T . C . Simmons , Esq . G . Thomas , Esq . physician . John Clendinning , M . D ., F . R . S ., 1 C , Wimpole-Street ,
SOLICITOR . Walter Prideaux , Esq ., Goldsmiths" Hall . BANKEES . Union Bank of London . ADVANTAGES OF THIS INSTITUTION . The whole of the Profits divided askuallt among the Members , after payment of live Annual Premiums . An ample cuaranteed Capital , in addition to tlie Fund continuaUy accumulating from Premiums / nHy sufficient to afford complete security to the Policy-holders . HALF CREDIT RATES OF PREMIUM . The oftaition of Asstjbxus is particularly directed to the Half Credit Rates of Premium , by which m . ans Assurances may be effected , and loans for short periods secured TOth the least possible present outlay , and at a less premium than for short terms only , and with the-option of paying up the arrears and interest , and the difference between the two rates , thus becoming entitled to particijiate in the triiofe of the profit of the institution . EXTEACT MOM TBB HALF CREDIT BATES OF FBEMIUa . WITHOUT PROFITS .
Age 20.! Age 25.1 Age So.! Age 40. Age 5...
Age 20 . ! Age 25 . 1 Age SO . ! Age 40 . Age 5 U . Age 60 . is d .: £ s . dJ £ s . & . | £ s . & £ s . A . £ s . d . 017 « 018 9 ] 1 1 lj I 8 2 2 I Q 3 4 . 2 WITH PROFITS . Age 20 . Age 25 . Age 30 . ; Age 40 . Age 50 .: Age 60 . £ s . d . £ s . d . £ s . d . £ s . d . £ s . d . £ S . d . 1 611 . 1 5 o 1 5 8 11311 -2 8 10 31511
Thus, For Example".—A Person In Ibe Twen...
Thus , for example" . —A person in Ibe twenty-fifth year of bis age , need only pay ISs . 3 d . per cent , yearly for the £ rst five years , and afterwards by paying up the remaining half with interest , and the difference between the above rates , he will be entitled to share in the entire profits , which it is expected will reduce the future payments lo little more than half the original Mutual rate . The G & eat Bsitais is the only Society in which this very great accommodation is given to the Assured , Transfers of Policies effected and registered ( without charge ) at the Office . Claims on Policies not subject to ie litigated or disputed , except witli the sanction , in each case , of a General . Meeting of the Members , to be specially convened on the occasion . Members Assured to the extent of £ 1000 entitled ( after payment of five Annual Premiums ) to attend and vote at all General Meetings , which will have the superintendence and control of the funds andaflairs of the Society .
J ? uU particulars are detailed in the Prospectus , which , pRratlon to CaUidteinforDiatioB ' ^ DeoDtauied * S *> Agents « . ntKl . i- ** mTKE . Vanogiig Director . ^ fcESBS ^ ssPSsSsr ^ *« , ^^ irfftinm ^ ieSiSr ° - ? lace '^
To All Who Can't Pay
TO ALL WHO CAN'T PAY
IMMEDIATErrotection , and a prompt and safeYma ? . discharge , without the intervention of a Prison-ar an Attorney . A discharge to Debtors is now-imperative , becausebujirisoouicnt for Debt is now penal , not remedial , —liehtOrS Of all grades will Lo benefitted by applying forthwith to John S . Benstead , 22 , Basinghall-street , near the Court of Bankruptcy , London .
To Tiie Embarrassed.—Important. There.Ar...
TO TIIE EMBARRASSED . —IMPORTANT . THERE . are thousands of persons who have struggled loug against the force of misfortune , but few are aware that by a very recent Act all small traders owitv ; debts not exceeding £ 300 , farmers , and all others owing to any amount , can be entirety raised from their difficulties at a small expense , and without imprisonment or bankruptcy . All such Mr . Weston begs will apply to him at Ifoira-chambei * , 17 , Ironmoiiger-luiie , Cheapside , by letter or personally . Persons summoned for small debts should apply immeuiately , as . they may thereby save themselves from frequent and lengthened commitments to prison .
TEETH . ' . MASTICATION and Articulation Improved and ' Guaranteed . —Messrs . DAVIS , Surgeon-Dentists , ; 123 , Pall-mall , opposite the Haymarket , and 1 , New Bridge-street ,. conier of Fl * et-street , continue to supply teeth , guaranteed never to discolour , break , or de <* ay , ami fixed without ipr ' mgs or wires , without extracting the old stumps , or . giving any pain . A single tooth , 5 s . ; a set , £ 5 . Loose teeth fastened . Scurvy in the gums ' effectually cured . Stopping decayed teeth . Price 4 s „ Davis ' s Ilermastican : all persons can use it themselves , as fun directions » r « « ncloseu , and can he sent per post .
COALS . PROVIDE FOR WINTER . PROVIDENT FAMILIES , subscribing Is . per week to the Mctropolitan . Coal Company '; Shilling Club , can obtain four half tons annuall y , without further charge , fines , & , c . The Company ' s price . current is , Best Screened Walls , end , 25 s . per full ton ; Seconds , 21 s ., i' 2 s ., and 23 s ; Coke , 17 s . 6 d . Office , 279 , High Holborn .
PANKLIBAN 0 N IRON WORKS . TH E LARGEST STOCK IN EUROPE . —FURNISHING IRONMONGERY , Stoves , Grates , Kitchen Ranges , Fenders , Fire-irons ., btst Sheffield Plate , ornamental Iron and Wire W ork , Garden Engines , Kollers . £ c , Japan Tea Trays , Baths , Ac—PANKLIBANON j . ON WORKS , adjoining Madame Tussaud ' s , 58 , Bakerstreof , Portman-square . N ' . B . —Every article is marked in plain figures at the owest cash prices .
Thirty-Two Pages For One Penny. The Lond...
THIRTY-TWO PAGES FOR ONE PENNY . THE LONDON ENTERTAINING MAGAZINE ; or , LIBRARY OF ROMANCE , published weekly , containing novels and romances , with gravities and gaieties , unexampled in interest and price . No . 52 will be published on Saturday , October 25 , price One Penny , and will commence with
"THE REGENT'S DAUGHTER , " Newly translated from the French of Alexander Dumas * , a work much sought after in France and on the continent . Part 10 is just published , and contains 160 pages , prico Sixpence , Vols . 1 and 2 are now ready , price Three Shillings each , elegantly bound . These volumes contain the beautiful novel of "Matilda , " by Eugene Sue ; also several other Sovels and Romances , by celebrated authors , besides an immense variety of entertaining and useful matter . Each volume contains nearly COO pages of closely-printed letter , press . It is the cheapest work in the world .
The London Entertaining Magazine is published regularly in weekly numbers , price One Penny , and in parts , price Sixpence , by B . D . Cousins , Dulce-stteet , Lincolii ' s-inn-fields , London , and may be had of all bookseller j in town or country .
Miners' Almanack, For 1s4g By Mr. William Damells.
MINERS' ALMANACK , FOR 1 S 4 G By Mr . William Damells .
In the Press , and shortly will be published , THE MIXERS' ALMANACK , for 1 S 1 G , containing Twenty-Four Pages , over and above the Advertisement Covers ,
PRICE ONLY ONE PENNY . Besides the usual amount of information , this Almanack will contain Tables for calculating Wages , Prices for Hewing Coals , either b y the score , yard , or ton ; Market , Weather , Tide , and other Tables ; Accidents in Mines ; Ventilation of Coal Mines ; with Tables showing tho speed of air currents , and a mass of other useful information . To Advertisers this will be an invaluable medium of communication , the circulation each year , since it was first published , having never been less than 10 , 000 ! Advertisements will be printed on coloured covers , and stitciicd to the Almanack ; and in all probability will be read by every Miner in Great Britain .
Orders and Advertisements received nt the Miners -idtoeate Office , Side ; Mr . Horn , Music Seller , Grey , street ; Mr . France , Bookseller , No . 8 , Side , Newcastle . upon-Tyne ; Mr . McColl , Bookseller , South Shields ; Mr , James Williams , Printer and Bookseller , Bridge-street , Sunderland ; and Mr . Cleave , Bookseller , Shoe-lane , Fleet-street , London , N . B . No Advertisements will be received after the 2 Sfh of October .
Just published , Price Twopence , A PAMPHLET , entitled "AN EXPOSITION OF THE INSECURITY OF THE DAVY LAMP , AS RELATING TO COAL MINING , " in which will be found the evidence and experiments of Dr . Murray , Dr . Pcreira , Mr . John Roberts , and others , as given before the Parliamentary Committee . To be had at the -Winers' Advocate Office , Side ; Mr . T . Horn , Music Seller , Grey-street ; Messrs . P . France aud Co ., No . 8 , Side , Newcastle ; Mr . II . McColl , Bookseller , South Shields ; Mr . James Williams , Uookseller , Sunderland ; aud Mr . Cleave , Shoe-lane , Fleet-street , London .
Commercial Buildings, Leeds. On Monday E...
COMMERCIAL BUILDINGS , LEEDS . ON Monday evening , Oct 27 , and every evening during the week , Mr . M'Mdlan has the honour to announce that he will give his celebrated entertainments on Ventriloquism , Vocal Imitations , and Original Anecdotes . Doors open at seven , to begin at eight o ' clock . Reserved Seats 2 s ., Second Scats Is ., Back Seats fid .
City Chartist Hall, 1, Turnagain-Lane, S...
CITY CHARTIST HALL , 1 , Turnagain-lane , Skinner-street , Snow-hill . THE Chartists of the Metropolis , and the Public gene rally , are respectfully informed a scries of
NINE LECTURES Will be delivered in tlie above named commodious Hall , to commence on Sunday evening , November 2 nd , 1815 , by-Ma . Thomas Coopeb , Author of "The Purgatory of Suicides , " " Wise Saws and Modern Instances , " " People-Songs , " Jfcc . SUBJECTS OP THE LECTURES AS FOLLOW : — Nov . 2 . —Life , reign , and character of Napoleon . 9 . —Shakspcare : his comic genius—Falstaff , Dogberry , and Verges , & c . 1 C—Discovery of America : characters of Columbus , Cortez , Pizzaro , Las Casas , ic . 23 . —Shakspcare : bis genius compared with the greatest ancient models , particularly with the
Book of Job ; his unrivalled knowledge of the human heart : "Lear , " " Macbeth , " " Othello , " " Merchant of Venice , " < tc . 30 , —Life , voyages , and adventures , genius , and character of Sir Walter Raleigh . Dec . 7 . —Genius and character of Robert Burns : — " Tarn O'Shantcr , " "theCotter ' s Saturday night , " Songs , & c . 14 . —Poetry , novels , and character of Sir Walter Scott . 21 Life and Genius of Handel : music an essential iustniuieut iu real civilization . 28 . —Discoveries , life , and character of Sir Isaac Newton . Admission to each Lecture , Id . —Chair to be taken on each occasion at Seven o ' clock precisely .
Just Published, In One Volume, Foolscap ...
JUST PUBLISHED , In one volume , foolscap 8 vo ., neat cloth , price 7 s . 6 d ., THE PURGATORY OF SUICIDES A Prison Rhyme : in Ten Books : BY THOMAS COOPER , TIIE CHARTIST . J . How , Publisher , 132 , Fleet-street . £ g » Orders from the Country to be sent through the Booksellers . MR . COOPER'S NEW WORK . To be Published early in November , in 2 vols ., 12 nio ., Price Fourteen Shillings ,
WISE SAWS AHB MODERN INSTANCES , A series of prose Tales and Sketches , composed in Stafford Gaol : among which are : — Kucky Sarson the Barber ; or the Disciple of Equality . Raven Dick the Poacher ; or * ' Who scratched the BUB !" Tim Swallow-whisae the Tailor ; or "Every dog has his day . " Master Zerubbabel the Antiquary ; and how he found out the "Noose-Iarning . "
Dorothy Pyecroft ' spreaching ; or " Chanty begins at home , " The Beggared Gentleman , and his crooked stick . The nurture of a loung Sailor ; or thehistorv of Cockle Tom . The last days of an Old Sailor ; or " Butter your shirt —sing'tontara-bohus , make shift !" The Man that brought bis ninepence to nought , "Tie Lad that felt like a fish out of watei The Minister of Mercy . — " Mtrrie England" no more . -Signs of the Times ; or Que Parson aud Two Clerks , " 4 c .,-Ac . Published also by Mr , How , Pleet-street , abo \ st jtp re-Jtiaveto 209 , Piccadilly ,
Just Published, In One Volume, Foolscap ...
THE . NORTHERN ; . ' STAU SATURDAY , OCTOBER 25 , 1815 .
"The Beginning.Of The End." The "Bank-Sc...
" THE BEGINNING . OF THE END . " THE "BANK-SCREW , PUT ON . "It is a Ions lane , " the old adage says , " which never has a turn : " and it would have boon marvellous indeed if the high-road to fortune through Railway-share gambling had not had turnsj and bends , and ruts , aud deep declivities . Had this " royal road to wealth" been all that the speculators have deemed it , the Philosopher ' s stone would no longer have been a desideratum , nor the " secret" transmuting the baser metals into gold—for the discovory of which the alchymists expended so much
research and wealth—a matter to be coveted . H it had been possible for all who engaged in Railwayshare speculation to continually gain without adding one farthing ' s worth of labour , or value , to the article they " trafficked" in ; if it had been possible for all who applied for , obtained , and bought or sold shares in the " bubble schemes" of the hour , to " make noset" by the " thousands" without outlay anil labour and profitable return on labour ; had this but been possible , it would have been a discovei-y for the fortune-hunters worth worlds ! Nay , it would have been of univeraal advantage . It would have
repealed tuk cl'iisk which we are told was inflicted on the race through Aoam ' s transgression ; for it would have been unnecessary for any to expect ** the sweat of the brow" in order "to eat bread . " They would but have had to obtain a " share" in the out-pourings of this wonderful new " cruise of oil , " which " the moxeJi is emptied TIIE FULLER it is , " to set them up for life . The " tales of the Magi , " and the romances of the " Arabian nights" would have been far eclipsed . "Alladin's wonderful lamp" would not have-been worth a sou ; and tlie power of fairies and goofi genii not worth an hour ' s purchase . The wcaltli-crcating benefits of the " old lamp" were confined . to those who might possess it for the time being ; and the power of the" spirits of air" was
reserved for a few special favourites : but if this new " royal road" to fortune had been what many of the speculators persuaded themselves it was , ALL could have travelled on it , and none been left behind in the mire and slough of despondency . "Day dreams , " however , often turn out to be as evanescent in their nature , and as incapable of realisation as the incongruous fantasies of the night : and in this case the "lull of faith" are doomed to woeful and bitter disappointment . Stern reality and flinty fact comes in to dissipate their pleasing imaginingsto teach them that as yet there , Um " royal road to wealth ; " but that , even in the long lane of Railwayshare "Prosperity , " there is a turning which leads to RUIN , —along which turning they are bound to go .
Hitherto , the general run of the road has been smooth indeed Money has been gathered lip in astonishing quantities by those who first traversed it ; and pretty tidy pickings have also fallen to the lot of those who followed next . It is true that a few quags and quicksands have had to ho passed over : but the planks of RISING confidence having been used , the parties Jirst rngulphed have been enabled to extricate themselves with little damage . The " success" of tho first travellers has induced crowds
to set out on the journey with all the ardour and enthusiasm of hunters after the ignis faluus that is to make them ¦ rich without labour . These find precious little nealth scattered by the way , —that having been cleaned by those who have gone before : but still , having the hope of a golden prize at the end of their journey , they press on , and hurry Loth themselves and tftose that ivould now turn back—down the awkward turning which has the pit of | 1 VUIN for its termination .
Banks and bank-notes will but serve to a certain aud defined extent . They can " expand" with a rising " prosperity" to the point of danger ; and then they must "contract , " to bring matters back again within satety ' s limit . You may heat the boiler of the Railway Steam Mania 'till it strains on every rivet and fetter which should keep it confined within legitimate bounds ; but if you do so , you must make use of the safety-valve , or you are liable to an explosion which will carry destruction to all around . Facts and physics will not alter their nature , —not even to serve the ends of stock-jobbing gamblers : and all attempts to make " two and two" into five will result in the " labour for the pains . " The power even of the Bank of England to " accommodate" is restrained within a certain extent : and when ihatlimh
isfxdl it must so "operate" as to bring mack a considerable portion of that it has sent out , or it falls ix with the pressure of compression , like to a fragile vessel exhausted of air . This is the present position of the " great money-corporation . " It is obliged to put on Vic screw ; and the result will soon he apparent in the share-market , where the " property in premiums" is vanishing like smoke ! On Friday last the Times had tho following announcement : — The following notice , issued by the Directors of the Bank of England , shows that the loug . auUeipated movement has taken place : — " Bank of England , October 1 G . " At a Court of Directors held this day ,
resolved" That the minimum rate of interest in London for bills and notes discounted at the Bank of England be £ 3 per cent ., such bills and notes not having more than ninety , five days to run . " It is supposed bywoni / thot ffcc rise ta the interest of monev witt . not stop at this toint . on the ground that the Bank lately limited their period of accommodation to one month , and that this month has not yet expired . The railway share-market was not buoyant . The ardour of the speculators was dumped iu a certain degree bv the advance established iu the value of money .
This is " turn the first" of the Bank screw . But the cause that has made this "turn" necessary will necessarily oblige the Directors to "turn" it again and again . Money is needed . The country banks have been drained of their deposits , and millions upon millions have been already abstracted from manufacturing and other industrial operations , to be " invested" in Railway stock , and to pay up " deposits" and " calls" in new schemes and unformed lines ; the parties who have thus used their money relying on their credit to be able to carry on their manufactories and other businesses . These must have
money at either one price or another ; and tho country banks are the first place to flee to . The power of these to " accommodate" is far more limited than it was , ere the necessity for their doing so arose . Before the Railway mania set in , it was common for the country Bankers to have as much entrusted to them by depositors as enabled them to carry on their business without using a single farthing of their 0 WH capital . Mr . Wm . Beckett of Leeds , of the firm of the Becketts , the celebrated country bankers , gave evidence before the House of Commons that this was the case in their " house . " But now all these
deposits arc withdrawn—and all the capital the bankers had of their own has been called into requisition . Hitherto the pressure has not been hardly felt , because the bankers have had the Railway deposits in their hands to supply the place of the other deposits ; but the time is fast approaching when these , to the extent of £ 30 , 000 , 000 or £ 40 , 000 , 000 , must be paid into the hands of the Accountant-General , to enable the promoters of tho many lines now before the country to go before Parliament . The old adage , " you cannot eat your loaf and have your loaf will here apply . The money cannot be thus paid over , and remain in the hands of the bankers , to be used
in " accommodating" their customers who require aid to carry on trade . Thus the country banks themselves will need " accommodation ; " and in their need they must apply to tho " Old Lady of Threadneedle-street . " The manufacturing customers of the country bankers will have to give Bills and Securities to the country bankers for the aid they require ; and these will have to be " negociated" in London eitiier through the London Banking-houses or with the "Old Lady " herself direct . In any case the " Old Beldame" will be called on for . advances ; and as money thus become ^ scarce , £ lie must piifc on the screw again , -. and again . i to make it hear . . Eas !» turn of that screw will be !
"The Beginning.Of The End." The "Bank-Sc...
attended with disastrous consequences to those who need monej % and to : those who have money . locked up Uv aiesel ! emes - or projects liable to be affected" -and ' altetid in value by these monetary operations , the » ' rmtttms on projects will first disappear . Away will « o £ 2 Q , 060 ; 000 or £ 30 , 000 , 000 ' s worth of " .. property " that" has been bought and sold ' . It will dissjpate like niist before the wind . The sellers wholhave pocketed the premiums will bo " all righf ' -having made , " as it is termed , that £ 20 , 000 , 000 or £ 30 ^ 090 , 000 ; but the " holukus" will ; be . *; all ivro » o "—0 n LOSS of the entire . amount ' being theirs' In fact tlie whole process of this gambling
in moonshine is but to empty the pockets of the gulls into those of the harpers . After the , prenuums on projects will go the premiums on existing lines . All of them have , by the spirit of gambling hitherto so rife , been forced up to a fancy price . With the blow to confidence will come their depreciation even below tlieir real value ; aud these the capitalist—he that can afford to hold—will step in and purchase for holding at tho depressed price . Yfhcn the country has recovered from the effects of THE PANIC , the shares the capitalist lias thus bought at under-price will renin their legitimate standing in the market ; and he will " realise" abundantly on them : but all Ms wiU be at tlie expense of those who axe now forced
to sell . And thus they go on—one stripping another ; one becoming rich , as if by magic . ; and hosts becoming poor to make tiiat one u nabob . ! Such must be the inevitable effects of the " turning of the screw . " They are already manifesting themselves . As sosn as the " order" above given was promulgated , it had an unfavourable effect on the prices of " English Securities ; " or rather on the "funds , " or acknowledgments for the Nation's Debt . " Consols , " which were " up at 102 in 1844 , were "down . " at 97 S ; ami Exchequer Hills were at 49 s . premium only . " On Saturday , " says the Times ' . —
The depression in the Consol-market was partially relieved by some timely purcha » es by a leading stockbroker made iu the Tiii-uc-and-a-Qiiarter per Cents ., which had fallen morp in proportion than Consols . The same party also bought Exchequer-bilif , Ji ' otwilhstanding this interference the closing prices were—Consols fur money 0 "i sellers , and Consuls for thit account 97 i ; Excliequer . bills , at 41 s . to 48 s . premium ; On Monday : — At the opening of tho Stock Exchange , the appearance of thiii"s was more remarkable than has oceuri-ed ' for a
very long period . None of the brokers at empted lo do business either as buyers or sellers , and , for a lime , no quotations teere named even in the English stock market . For SHAKES , TIIEBE WAS MTEliALLV -SO l'BlCE Jr'IXED . This state of uncertainty lasted full an hour after the usual commencement of business . Even up to one o ' clock , the more steady brokers were averse from furnishing any lists ; and tli rough out the day the business done in all the securities ( siocks or shares ) was somewhat limited in extent . Railway shares ivcre flat up to tlie close of business . The brokers continued to deal , but prices constantly fluctuated throughout the day .
On this " consternation the " City correspondent" of the 27 »» es remarks : — The wise proceeding of tlie Bank of England in raising the mintmttm rate of discount to 3 per cent ., small as the difference is from that which before prevailed , has brought the railway speculations to at least a temporary stop . Little has been heard oil all sides to-day but discussions on the tendency of ibis measure , and among the jobbers and gamblers in railway shares the conviction is general that it ought not to place them in a worse position , because to men who are already paying at the rate of 20 or 30 per cent . 10 put off the evil day of payment , a difference of one-halt ' per cent , in the current value of money seems a trifle unworthy of the smallest consideration .
Still they hesitate about engaging in any new operations , and the disposition is far greater to sell than lo buy , oNbl TIIAT BUiEltS AKE NOT TO HE 1-ou . Nl ) at THE STANDING quotations , the dealers , who stand between the ' coinpanics and thepublic , keeping aloof until they see which way the tide is likely to turn . In cvuiy instance the attempt to force sales would at present be attended with a lai ' ge sacrifice . The true barometer with most of the prudent operators is held to be the state of the Consol aud Exchequer-bill market , aud these hare manifested a degree of weakness which , if it is in any degree to be traced to the Bank notice of Thursday , ought to imike ( ftosc trembleitifco at- « holders of thncfoMihs of the rauieujj paper now afloat . The " avalanche , " as the great
accumulation of railway seliemus has been termed in the city , adds daily in millions to its unwieldy weight , and arnou ^ sound pi-uclicat men 1 / ie question is only one op time , HOW SOON IT MAY COME DOWxV ; j 0 iii . b v «' * , some iwti months , akd otheus si-eaki . nu or the fall as still uoue imminent . The iiioi u advance in the rate of interest by the Bank is not , perhaps , so material iu itself as when coupled with one of tlie assigned causes of that step , / vri / the directors , as rumour states , reckon upon lite abstraction , before the end of ( lie year , Of three or four millions of their slock of gold io meet the instalment upon foreign railways , they cannot stop hers , but must fubtiieu protect THEMSELVES BV DUAW 1 NC THE COllD STILL TIGHTER .
Too much force seems to hare been assigned in the city to the argument that as they have still a reserve of about eight millions unemployed , it was their policy to keep the money-market easy , and hence that this last measure was uncalled for ; but it is the quality of the advance , and not the mere power of advance , which must always govern this great corporation , which cannot prosper or be safe uiihss ill SO employing : its surplus means as to retain the power of calling tlicm back iu the shape of bullion if they require it . ' The directors must not therefore hesitate at any step which is necessary to place this part of tlieir responsibilities beyond the roach of hazard . ' There is » iothing left for the railway speculators consequently but to take in sailas quickly as possible : THE STOHM Is AT hand .
On Tuesday the same writer thus returned to the subject : — There is a notion prevalent among the speculators in railways , that to them , a vise in the value of money is a matter of secondary importance , since they must ultimately , . as ia the iustimees of the Liverpool and Manchester , Grand Junction , London and Birmingham , and some others , obtain cent , per cent , upon their outlay ; and whetiler three , four , or five per cent , is paid for accommodation , while this dream is working on towards its realisation , they regard with utter indifference . As far as they arc concerned , the Bank of England , the great discount brokers , aud th « body of dealers in money , may fix their own terms ; the speculators are willing and able to
comply with them . This is a delusion which cannot be too soon removed . Let any parly , having his tin-box crammed ivith railway scrip and shares , exhibit it to any prudent banker or mereluint as security for an adeance of money to the W . ' ciit of OSE-UAll' only of Us nominal value ; he will not , in most cases , get any advance at all ; or , if he does , it will depend more upon his general credit and stability than on the value ol" the article tendered as security . His character in those respects will ever be damaged by the plain avowal of the fact , that he has made a large venture in railway shares—an investment , in some instances , per . fectly good in itself , but so completely overdone and overtraded in at the present time , as to threaten for a period to involve good and bad projects in one
common ruin . With such persons , therefore , let money be as cheap as it may for the prudent tradei in the general market , accommodation is always difficult ; let any rise in its value take place , accommodation becomes impossible . In this way liavc { peculators in otftei ' commodities—in tea , in cotton , iu tallow , or any of the great articles of consumption , all good , useful , and necessary articles iu themselves—6 c « n constantly brought to a stand . There are no men , professionally , s & acute and sagacious as the dealers in money . They seek information ou all sides , and compare notes with each other
respecting the operations iu which the leading merchants or the public are engaged ; and a hint that A or B has accepted too many bills on any one commodity , beyond what the ordinary transactions of his business will justify , damages his credit , and either brings his speculations to a close , 01 " , by forcing him to suspend payments , leaves perhaps a better dividend for his creditors . Both lenders and borrowers , by the timely interference of the discount houses , are thus often saved from ruin . But tke speculators in railway shares , according lo the present indiscriminate praelUc , are far below even the worst clasi Of Speculators ill an articU of commerce or consumption . The latter is
ALWAYS WORTH SOMETHING , UUT THESE TO AH IMMENSE AMOUNT MUST BECOME UTTERLY WORTHLESS . TllUS WC have the spectacle iu this and other great towns of the kingdom , which have all established marts fur gambling , of a countless mass of dealers and traffickers in a commodity of the value of which they know nothing , and on which no money can be raised . JIen mav differ as to the time ano manner ia tohkh this heap of combustibles will explode ; but that it can end wit / tout some serious COIumfoion no one ventures to hope . Are . not u > e entitled to ask , " who were the " croakers , " when we find those who were silent when we first sounded the note of alarm JfOir using our very words in describing the evils coming upon
us , and which cannot now bo prevented ? Should we not be justified in strongly contrasting our opinions so frankly and explicitly given , with those then held forth by those who now speak as above ? But to triumph in such a manner is not our inclination . Enough for us that we have done our duty . Enough for us that we foresaw " THE END " from the beginning , and warned th e country of the danger to which it was subject . Enough for Us that wc ° have been true to our professions ; that we spoke without fear or witfwut favour . Enough for us that we did not defer our warnings to the internal of anybody ; that we did not -pander to the prevailing prejudice tlwt our "irieKftls" jni ght gct ; rich atounetaly ' s else
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expenco . Enough for us that wo saw danger ^ and gave instant utterance to our fears . ¦ .:-. ¦ : But then what is to ' bdtiie end of all this ? - Is the gambling- market to he depressed for a time ; then to regain its buoyancy ; then again enable the sharpers to fleece the gulls ; and then another depression and danger of national bankruptcy ? . Are we to go this eternal round of rascality and ruin ? Are the good and legitimate projects for railways to suffer and decline because a score of bad ones are ushered helterskelter into the market to ' < compete" with every good one , and to enable the hosts of Directors , Provisional Committee men , Shareholders , and other gamblers , to appropriate to themselves heaps Of
money for which they give no equivalent ? Is this to be the continual course ? It is not fitting that it should . Railway communication , when judiciously laid out , and economically formed , is calculated to be of national advantage . It operates against isolation , brings man in contact with his fellow—destroys mere local prejudice—and enhances the means of giving and receiving information . It is , moreover , calculated to develope the incipient resources of a district , and improve those which are had in avail , whenever it affords better facilities for the conveyance of raw material and manufactured goods . It is , therefore , of national importance that all good and likely lines of Hallway should be forwarded as fast as the national means will allow , consistently with the other national engagements . Wu havk to hit on a planby whith ihie good can 6 e effected , without the
evils of which we have to complain , and from which we have to suffer . The mode of doing this will present itself , when the present system lias worked up to a certain point . With Englishmen it was necessary that the plan of individual or conjoint private enterprise should have its full swing , to prepare thein for a higher principle of action , which , while it prevented individual accumulation , will secure the benefit to the nation at large . The evils of the present system will work their own cure . We shall have the Railways without the gambling . Already does the public mind indicate the growth Of an opinion in favour of this course . Already is the public press hinting at the possibility of this being accomplished ; and before we have passed through the stormy times now opening on us , we shall have the mode by which this can be renlised , publicly discussed , and very generally
suppovtcd-Space now prevents « s from entering more particularly into this branch of the question . We must defer it to another opportunity . Meantime , we commend the following extract from the Bankers ' Circular to general attention . The remarks on the present speculation in Railways are temperate ; and preceded as they are by a descriptive sketch of the " great crisis" of 1 S 24-5 and that of 1 S 35-0 , for the purpose of contrast with the present , they arc calculated to be of general benefit : — We now proceed to bestow a few observations for the purpose of distinguishing this extraordinary speculation from some of those which have preceded it , equally mnrHing in their day an excited and diseased state of the public mind when stimulated by the designs and interests of brokers , the association of numbers , and the eagerness
of gain . The speculation of 1824 . 5 took all directionscolonial produce , all raw materials of manufacture , public companies for all imaginable purposes from steam-washing and cow-keeping to making Ireland a silk-producing country , and covering the sea with ocean steamers—bad and good schemes of all sorts . But its boldest and most conspicuous flight was over the Atlantic , to invest money in the mines of South and Central America . It is impossible to state how large was the whole capital which was sent in this direction ; Mr , Iluskisson ninde it the theme of a discourse , in which he represented the clear loss at from three to four millions sterling . But the peculiar character aud manifestation of that speculation are the important and instructive circumstances that we have now to consider , for the purpose of showing their bearing by force of contrast on the mania now prevailing .
The source of all these speculations is a reflux of money to the centre , after a period of commercial and manufacturing distress , and low prices . That of 1 S 2 I-5 was wide spread , and it fastened on many objects ; but its most Striking feature was the mining enterprises , which also involved the greatest amount of ultimate-loss . During the highest state of the fever the premiums on the shares of some of the South American mining companies rose to more than a thousand times the nominal value of the shares . In this there is a striking contrast to that which has taken place in railway shares , iu none of which has
the premiums amounted to the nominal value of the shares , when the affair was'in the state of projection . The reason is this , —supposing the spirit to have the same strength and intensity , and to be supported by the same amount of power in 1824-0 as in 1814-5 , at the former period no one object presentcditself on which alone the speculation could live and prosper . Gold and silver mines are limited in number ; their situations are remote from the centre of power ; the people of England were not familiar with such enterprises , and nothing but high mercantile names could have induced them to adventure
then- money in such novel and hazardous undertakings . The spirit was rife and eager to be led , but the leaders could not create objects fast enough to satisfy the cravings ot the spirit ; and so it fastened on many absurd schemes which men of'lower grade and inferiorjauthorities brought forward for it to feed on . If mines had been like railways , equally familiar to the public observation and approbation , —if mines could have been presented in unlimited number , and some leading men had been willing to lend their names , influence , and authority to the
formation of a score of companies at once , as they do now in the case of railways , the speculation of 1821-5 would have been confined as exclusively to mining cmterprises as the speculations of lStl . 5 is confined to railway enterprises . Ingenious men observe the cravings of the monster , and they find no difficulty in creating a thousand railways for the purpose of satisfying it . In . 182-1-5 tlwrc was no such prolific field of creation ; and consequently the shares in the i ' uw mining companies brought out rose in some cases to move than a thousand . fold of the
amount of capital proposed to be laid out . The next succeeding period of speculative prosperity , 1835-6 more nearly resembled in its characteristics that of 1825 than does the present one . North American credit , garnished with banks , railways , anil other public improvements , was in this case the tempting bait , Substantially , the objects then presented for investments were of sounder foundation than four out of five of the railway projects that have been brought out for public patronage in the year 1845 ; and we firmly believe that the shareholders in canal and railway property and in loans to municipalities in the United States , and on the other hand , in the new railways of England , will admit the validity of this conclusion when they compare accounts
in the year 1850 . The range of enterprise for British Capitalists ill 1835-G was extensive , for it had the whole of the United States for its theatre . It was then , as now , confined mainly to one field abroad , but in England it took the direction of forming joint-stock banks , opening large streets and constructing new ones , building public edifices , laying out parks with villas , as at Clapham and near Manchester , and generally it created a spirit of speculation in mills , mines , manufactures , and the raw materials of manufacture . On attempting to draw a parallel between the two periods ot excitement , 1824-5 and 1835-0 , we find the great feature of the first was that the principal stream of speculation was directed to South and Central America , and that of the latter , was that the
great stream was directed to North America . In other respects there was no striking characteristic of difference in the two , except what relates to joint-stoek banks , which , m 1825 , the state of the law precluded from being formed . We now come to the speculation of the present time , to make the examination more intelligible . The object of the current speculation is principally , almost exclusivel y , confined to railways here find abroad . Its range , however , is as great as in the two former cases , probably far more extensive , but it is in great part limited to home , and the money it calls out is spent in great part on ourselves . We rejoice that it is so ; it must be productive of public benefit by drawing out hoarded , and , as it lay , useless treasure , and giving employment to labourers . But , we are
considering the matter as a speculation , and endeavouring to trace out some of its probable consequences . As such , in what respect does a railway differ from n mill that is built iu times of stimulation , and is sold for one-fifth of its cost in times of distress , because the owner cannot pay the expense of working it ? The mill is better property than a railway , because the latter can be applied to one only purpose . In both cases , the architects , dealers in materials , and labourers of the structures were benefited whilst they were in course of being constructed ; but , alter that , so long as the structures will not pay for working them , the capital expended is almost wholly pure waste . Of what use to the public or the proprietors is the capital expended in the Junction Railway * We believe that is the name of one for which an act was obtained ten years ago , to bring the traffic of the existing railways to a point somewhere about Gray ' s-inn-lane and hich
w was partly constructed . The ground has been forfeited to the ori ginal owners of it long since , according to the terms of the act . Of what use will be some of the five railways projected to bo formed between London and Wk ? Notoneadditional railway can beformedwithout injuring the revenue of that which is i „ operation . Some profit , the wealth a „ d popu , i \? r / c X m 2 b ° ftrs ^ a ^ t ? , "^^^ IVt ^^ ^^^ ' ^ ^^ PUN e but if you lay out one hundred and fifty or two hundred millions , one half nf ti , „» T ° waste , because the raUwaJ . th / tl SUm may bepure rngXe ^ ™ sS ^ u Sr ^ r ^^ -
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Wasteful etpenditure , whether it be made m war , wa , like instruments , useless caii ' als , . or useless railways , 1 ,:, the same malign bearing on the . welfare of a country whatever may , have been , its .. ol *? cUvIn the caS 0 „ wasteful expenditure In war , the slate provides that « , < capitalist who advances money as it is wanted shall it . ceive his stipulated usance for itbytaxus levied on the whole community ; iuthe case of a wasteful expemlitura in useless railways—say of fifty or a hundred inilliui > s < which cannot be worked because of the expense of work , itig being more than the income—there is no state op power to guarantee the annual usance to those who sup . ply the capital ; consequently , although the public buj , den must be less than that for expenditure caused by
war , or nothing at all , the individual misery caused by abortive railway schemes with their outlays must be so great as to baffle all power of description . Neither ar 0 there , wanting evidences ' efevi iu this , the infancy of t ] , system , to prove that three or four out of every five of the new projects—especially those for the east , south , and south-west of England , remote from the sources of mineral wealth—must fail . To say nothing of the wrecks passing under tlio titles of the Peak mid jj , Moieton-in-the-Mnrsh Ituilways , there exists the Whitb y and Bickering Railway ( a single line , with sliding ^ 0 f twenty . fotir miles ) as a warning . There is no railway that runs over such a proportionate length of waste and worthless land ; there is no railroad more needed , for
Whitby is a populous and wealthy town , situated in „ deep and remote «({ de sac , the nearest market town being twenty miles distant , and the intervening Sj , in every direction being moorland . Two beautiful viille \ s approximating near to midway between Whitby a ) " , i Pickering present themost favourable basis for UiC construction of n railway . The one now worked has been constructed—badly constructed we admit—and in opem . tion many years , The owners never , we believe , received one farthing in the shape of dividend or interest for tlieir capital , and the expence of working the line was with difficulty defrayed—the operations were frequentl y 0 Il the point of being stopped for this reason . Here there wt . s no competing line , no competing earning power
worth alluding to , except that provided by the sea ; and we repeat , no circumstances can bo imagined more hi . vourahle for a railway enterprise , except dense papula , tion and mineral treasures . Sot one iu fivo of the new projects is to be compared with it , all circumstances con . sidercd . Mr . Hudson ' s keen practical eye has pcrecivnd this , and he has bought the Whitby and Pickering Kail . way , which , as an adjunct to the York and Searbiuough . and the York aud North Midland , now all one , will prove in his hands an important feeder ; for competition is out of the question in such a locality , We have adverted to these illustrations furnished by brief experience in working a novel system , for the purpose of suggesting the improbability of more than one
in four of the new projects paying any interest to tlio adventurers . It would be useless to multi ply examples or they might be adduced from the slight and miserable dividends exhibited by some of the southern rnilirars working without competition . Then what will be tlio ' effect of all this speculation on the monetary power is the only remaining section of the matter on which we shall at present offer any observation . . We said a fortnight since that the thing as a speculation must break down within six months , or subside , leaving nhoals of adventurers helpless on shore when tho tide ebbs . Prophets with a particle of foresight mid discretion , will take art
ample margin when prophecying ; and a third part uf six months may be sufficient to realize this prophecy . Whenever that time comes there will be a rush to obtain the possession of money to keep the speculation afloat . A few only of the speculators will succeed in this * for there never was a speculation in which the Directors of the Bank of England generally , and those who influence and control monetary operations in the city of London , stood more aloof than they do in this railway speculation . The Bank will not be controlled by railway magnates as it was controlled by the great merchants and iiicrcliautbankers at the two former crises of 18 S 5 and lSUfi .
This leads to the inference that the manufacturing and mercantile operations of the country will be less interfered with at the next convulsion ihan at any preceding one ; and this appears to us a just inference . Still there will be u very large sum of money abstracted from its mercantile and ordinary use , which Will make tho ln » rket for supplying it to those uses scarce and " tight . " Wo can perceive no difference between locking up money in a useless railway iu Pennsylvania aud locking up the same sum in eight useless out of ten projected for Southampton . America being always the debtor country on the balance , it would be rather less disadvantageous to our
manufacturing interests to waste English money thero than for such purposes at home : at home it would cause less to be spent iu English manufactures than in the United States , and more to be spent in such imports as tea , coffee , tobacco , sugar , wine , rice , and food—especially in the period of projection and laying out of schemes . A secondary clerk to an engineer has , we know , been paid seven guineac a day for his services ; aud this fuel mavkR the objects on which an increased expenditure for railways in this stage of their progress is likely to be squandered . The great question for consideration is , what will bo the effect of all this speculation combined with augmented imports on the Bank ol England ?
On this last questum we kiww fay too little to justify us in saying moro than ivc have said at present . We understand that the directors count on the probability of losing two or three millions of tlieir treasure . Such a drain , we believe , would not stop at the assumed point , but even that small sum would be quite sufficient to sink three out of ftiuv of all tlUi ttew railway projects , to produce greater stringency iu the administration of money , aud very guarded conduct on the part of all bankers . THE MINISTER AND THE CORN LAWS . WHAT SORT OF BARGAIN SHOULD TUB r /
aUiERS MAKE ! There arc indications on the political horizon that Pekl is prepared to " go the whole hog" with the Corn Laws , and complete the degradation of his agricultural majority by dragging them up to vote , for the total repeal of those regulations which they have held out as necessary to the very existence of the landed interest . Last session all the defence that could ho offered by the " farmer ' s friends" in tlio Ministry was a "kicking" reproof from Mr . Syd . nkv HisitBKRT , the new Secretary to the Treasury , to the farmers "forcoming whining to the legislature for relief" from the distress and ruin worked lor tlicm by legislative measures ; and Sir James Graham at
once announced that the Ministry were fully prepared to admit the Free-trade principle to its full extent , —tlie application of it being only a question of time and Ministerial convenience . Since then the Times has been preparing the public for a now course of policy in relation to the importation of food—itsarticles having for their object the inculcation of the idea of a total repeal of the Corn Laws rather than the substitution of the "fixed duty " which the Times in former times , and not very long since , advocated . The recent jeopardy we were in , in relation to the whole harvest , arid the partial failure of the corn and potatoc crops , have afforded occasion for these preparatives for the
coming event . In addition to these significant " signs" we have Lord Asiu . uy addressing his constituents of the county of Dorset , telling them that " the destiny of the Corn Laws is FIXED ; " that" the leading men of both the great parties in the legislature are by no means disinclined to their eventual abolition ; " and " that the difference between these same ' great parties' is less a matter of principle than a question of time . " Add to all this the fact that the Sunday organ of the Ministers announces that " the Government are sedulouslv procuring
information from all parts of the country , as to tho most vital of all questions—the food of the people ;" and that a variety of rumours were circulated " on Change" on Monday , in relation to a change of ministerial policy on the subject of the Corn Laws , and had some effect in depressing the funds and Railway shares . Add all these things together : and it-would appear pretty evident that Peel is preparing to give the finishing stroke to that" proud and haughty aristocracy" of which he is not a member , and complete the ministerial structure of free trade for which ho laid the foundation in his Tariff of 1841 .
Our opinions as to the effect of such repeal , unaccompanied by the other fiscal and monetary alterations which we have pointed out , have undergone no change whatever . AVe still believe such a step to be fraught with destruction to the real farming interest ,. and to carry in its train a host of awful consequences to the producers of all classes . The experience we have had of the free trade measures of Sir Roder ? Peel has not -weakened these opinions in the slig htest —but , on the contrary , strengthened them in every particular . Tell us not that the " roaring trade " and " oionious prospebiiv" of the last two years have resulted from Sir Robert's abolition of import duties ; for with the free trade Chvonicla wc hold that
Sir Robrut Peel is perfectly well aware that the apparent success of what he calls " his policy" has , in reality , aslittle as possible to do with his policy—that tlie p lenty , cheapness , and general prosperity , the high wages and diminished pauperism of the last two years , arc as Uiu " attributable to his Corn-Iaw , as they are to his Incometax—that they are the fruits of a succession of abundant harvests , which have virtually and pro tempore , repealco his Corn-laws . Sir Robeet Peel knows this-and what ia more he knows that the country knows this . Tell us not , therefore , that Sir Robert is to be trt < Uled with the prosperity that has abounded , unless you also admit that the infatuated gambling ' &»*¦»
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Citation
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Northern Star (1837-1852), Oct. 25, 1845, page 4, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/ns/issues/ns2_25101845/page/4/
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