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CjrtoipLanJi Jforn'oriuT" (fnllllll ' ll illlTl [Til h III h
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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.
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^^ *— I . THE NATIONAL LAND COMPANY . fO IHZISROR OF THE KOBCBEBK STAB . Sir , —Having ia ray former letters adverted to the deplorable state of the entire labouring population and asserted that the National Land Company as at present established , is calculated to open the way for the removal of the greatest evils under which they labour , it is my duty , in this concluding letter , to observe on the peculiar merits o * the Plan . The first is , that it addresses itself directly to the naiversal love of possession which actuates mankind —and which makes all labour that improves our own property , a pleasure rather than a toil . The next is—its feasibility . It is no speculative ; THE NATIONAL LAND COMPANY .
theory which is to bring about a new milleniutn ; it is founded on the experience of practical farmers , poor and rich . A writer of thirty years ago observes , with regard to the allotment system , ' three acres of land would place the poor man in state of independence , and enable him to pay rent rates , and taxes , ' and in the report of the late Land Commission , we find the following question from Lord Devon , 'Would small farmer s with farms of from four to ten acres be able to pay rent and support themsdves ? ' Mark the reply , I know o f small fanners , with four to six acres , being raore independent than large tillage farmers , because
FABMEES OF THIS CLASS TILL WITH MANUAL LABOUR ; and thus the groundis better tilled and more productive ; they also keep two or three p ' gs in the year , and this enables them to pay their rent ; on the contrary , farmers with twenty to twenty-five seres , will keep a couple of horses , whose support takes away nearly all the profit , and a great proportion of the produce of the farm . ' Now , if such be the case , under the allotment and tenant systems , where the holders of land labour
under great disadvantages ; the latter generally jiving one , two , or three miles from his holding , and feoth being dependent for their possession oh the caprice of others ; if , under sech disadvantages , they thrive hetter than large fanners , what must be the result when the labourer resides in the very centre of his land , and is independent of any landlord ? If the tralne of the time spent by each individual , in going and returning from the cottage to the land
, be averaged at the moderate computation of one hour a day—the husbandman loses in each fortnight one entire day—absolutel y nearly one month out of the twelve . Here is at once a loss which those whose capital is their time , caa scarcely sacrifice too much to avoid—2 dd to this the fatigue endured b y long walks , the wear and tear of clothes , &c , and we may safely conclude that they lose in this way as much as they pay in rent .
Yet , with all these disadvantages , labourers in other countries as well as ours , find it enswer their purpose hetter to till their owa land , than to work at hig h wages for a master . Nor conld it be otherwise ; lasd being the ori gin and foundation of all other wealth ; the raw material whence all otter riches are manufactured , it follows that ie who cultivates it carefull y adds to his own wealth and to that of his country ; let all other species of property fluctuate in value as it may—let consols be at eighty—let railway shares be a drug at a penny a share—let manufactured calico cost less after two voyages than did the raw ma . terialat Calient—still lam > maintains a fair average price , and even the panic occasioned by the repeal of the Corn Laws did not al * er its market value .
But there is this difference between the adoption of the Land Plan for the million , and the adoption of any improvement in machinery . The former transforms a large and influential bodj into consumers , from being mere producers . The latter increases the power of production , just in the ratio that it takes away the power of consuming ; for every table of statistics proves how very small a portion of the labourer ' s earnings can now be spared for the shoemaker , the draper , or the hatter ; whilst we cannot for an instant doubt his willing ness to purchase all the comforts of life the moment he possesses the power . .
But as it is the nature of wealth to increase itself , even in indirect ways , the prosperous landovt ner , Uving on his two , three , or fonr acres , would find many expenses which might at the outset press heavily on hint , gradually become less and less burdensome . The prosperity of one hundred labourers would not merely withdraw them from the competition for work , which now so dreadfully affects wages , bntit would , "in"indirect ways , increase the demand for manufactures , and , of course , for operatives . This
making them in turn prosperous , the poor rate and oiher taxes , which now oppress the landholder , wonld be diminished , until those only would be levied that were absolutely needed for the expenses of the government ; these , finally , falling on the whole populatios , instead of about one-half , would be cheerfully and readily paid by every roan of common sense . And this brings me to that part of the scheme which professes to bring the governors and the governed into immediate relationship with each other .
This , it is proposed to do by making the government the directors-in-chief of the Land Company ; and on this part of the subject I cannot do better than give a brief abstract of Mr O'Connor ' s observations on the benefits to accrue to the Company , and to the nation at large , from government superintendence . 1 st—Economy—As , under the proposed provisions , the present managing executive will be retained , so that the people ' s trust in the management will be precisely what it now is , the shareholders will derive the greatest possible amount of benefit from purchasing and contracting on the largest ecale , whilst they will not have the possibility of any fear of the misappropriation of their subscriptions . Although under government role , there will be ne government jobbing .
2 nd . —The benefit to the whale nation , from the subscriptions , which would be paid into the Exchequer , rendering the government independent oi foreign aid , either in the shape of loans , or of forbearance . A rich government , like a wealthy man , commands the respect of those whose purges are empty . 3 hL—The good Onaerslan ^ ng which mw * spring op between &e people and their rulers , when the former stand in the new position of benefactors to the latter , and from the easy circumstances in which the peasantry will find themstlves , they will become themselves , and make their children , sober , intelligent , and industrious .
Add to this another great benefit—that children will be prized as blessings , not esteemed curses , as they too often are at present . The population may sot increase as rapidly as now ; for whilst the poor man now can hops for no shelter for himself or his child but the workhouse , and consequently snatches the little joy in his power , and marries—he scarcely cares when , or with what prospects , —the man who looks forward to the possession of land will be anxious that his children should not lose the
advantage he is striving to gain for them , and he will defer his union with a sensible , prudent girl , until he has the prospect of supporting a family . It is only where hope is banished that caution is wanting . But again , there will be very far fewer deaths . Conntry air , wholesome food , ana healthful labour , are sad enemies to drugs and doctors . They , I fear , will find themselves at a discjunt , —and as to lawyers , —what need for them , when there is plenty for everybody , and superfluity for none ?; " Olhelh ' s occupation ' s gone !"
Surely the people will not think a little present self-denial a taslc , when it is to produce such happy results ? But I must conclude , and 1 do so in reminding them that in their hands rests their own destiny , as well as that of their conntry at large . The people are they to whom alone the government can look for efficient ai'l ; and , moreover , they are the only people who have power to grant it . Again , I say , their long-tried champion , who has led them
through a long and dreary desert to the very bor ders of the premised land , will still lead them on , bnt they musi follow him if they would obtain possession , —that is and must be their own act and deed . But if he , their gallant chief , cannot convince them ; if his writings fail to arouse and animate them , -what can I hope from the efforts of my feeble pen ? I have no desire to " Hold my farthing rushlight to the sun 1 "
let I could not see prospects so cheering before the people without entreating them to open their eyes to behold them . I could not be silent whilst I had the hope that I mi ght aid , in ever so slight a degree , the views of the founder of the Land Plan . I am , Sir , Very faithfully yours , s PHILODEMOS .
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INDIA AND CHINA . Letters from Bombay to the 31 st of August hate been received . . Sir Charles Napier hadslnt in bis formal resignation of the government of Sclnde . " In the Ponjaub the influence of our Resident with tie Durbar continued on a ficm footing . Tfeere have been some disturbances of no great imnortanS > In theJullundar Doaband Nepaul . ^ hVSSueS n the Indian army restated to amount to 47 , 000 men , Slim ™* 8 tlllstroa ^ r by above 60 , 000 men
_ ., . FRANCE . . nS !™ paE" 8 br ] DS more rePorts 8 f P » 1 ! amaatary reform banquets . A demonstration of this femd , on a great scale , took place in the theatre at Coulommiere , and was attended by three hundred giests including MM . Georges Lafayette . Oiillon Barrot , and other members of the opposition in the Chamber , twenty mayors of the arnmdissement , commanders of the National Guard , and seven municipal councillors . The usual toaets were given and speeches spoken . Another banquet has been holden at Orleans .
Whea the Prince de Montfort quitted St Leo ( says the ConstUutiontiel ) he was the object of the warmest acclamations . Hisearriage , whioh centaincd , besides the Princess Malhilde , another lady of the family , said to be one of Lucien ' s daughters , and the Duke dePadoue , ; had to work its passage through the crowd , which the National GuudYand the veterans of the Imperial army , drawn up in line , bat who were too much affected todo theservice , endeavouredin vain to keep back . At the view of the Prince , whese resemblance to the Emperor struck every one , all persons spontaneously raised their hats , and cried out , Vive l'Emperenr , ' ' Vivo Ia Liberte ! ' The cries only ceased when . the carriage was oat of sight . We read in the Presu : — ' The Patrie announces
that the Ministry has , within the last few days , prohibited the singing in any public place of the hymn of Pius IX . We are , in fact / assured that this hymn , which was to be sung on Sunday aad Monday at the Chateau des Fleurs , was interdicted by the Prefect of Police , on the pretext that France ' wished to remain neutral in the affairs of Italy , and that the hymn in question , if sang in public , might be considered by the foreign power * as a manifestation . The National publishes a letter from Ni 3 mcs which states that- M . Armand Barbes , the leader of the revolt in Paris in the year 1839 ( who . it will be remembered , is a barrister , and a man of fortune ) , is treated in his prison with the greatest severity ; that ' he is restricted from receiving visits , nor is he permitted to leave his cell . '
Two fulminatirg bombs exploded on Friday evening in the Faubourg St Antoine and the Marais . On this eccasian two men were arrested for having thrown them . They were recognised as workmen known for their extreme radical opinions . Being placed provisionally in the poste of the Place de la Bastiile . they attempted to effect their escape by unfastening the iron bars of the window . They were surprised in the midst of their work and removed to the Prefecture of Police . . Tne Concur of Lyons stated , that the troops employed to disperse some groups of curious persons who had assembled before the oonvent of Saint Denis in that city had been supplied with ball cartridge , and that cannon was ready to be employed at a moment ' s notice . ' What , ' says the Censeur , ' is to be thought of a government which has recourse to mosketry and cannon to disperse the smallest assemblage !"
SPAIN . The Madrid journals contain two royal decrees of some importance as regards the finances . By one . the order suspending the sale of property belonging to monasteries and convents has been revoked , and all these possessions arc to be alienated for the benefit of the state . By the other , a sale is ordered of the property called Propios , hitherto administered by municipalities . The produce Of this property is also to go to the public treasury , These measures are generall y denounced as arbitrary and unconstitutional . The refusal by General Espartero of the offer of the post of Spanish Minister in London hid been received . ASaragossa paper announces the capture of the celebrated Carlist chieftain Manial , and the destruction of his band .
GERMANY . The Prussian king has been making atour throuh his states . On his arrival at Monster the citizens gave a grand supper to the king . After the usual loyal expressions in honour of his Majesty , the Liedertafe 1 snog in chorus Schneider ' s ode in honour of the King , beginning with the words ' Rekht mir einen Brecher' goldtn muss er tiin . ' ( Reach me a goblet , 'trnust be of purest gold ) . A d the burgorneister , in an appropriate speech , proposed a toast in honour of the King , which was responded to by each guest emptying hii goblet of Rhenish , and three tounds of cheers . Unter allirgnadigster Ebnig 1 &e hoeh ! ' His Majesty then , in a dear voice , expressed himself as Mows !_
Let each maa fill hit goblet to the brim , with German wine ! It is now thirty years since I first get foot in the gooa « sity of Monster ; as I found it then so have erer since found it at subsequent visits ; faithful , firm , and true . Loyalty is visible on the countenances of the sons and daughters of this city . They never changed in the hour of danger , wb « a the seeds of discord were scattered about . Faithful , firm , and true was the Toica of their deputies at the meating of the states . ' Faithful , firm , and trae , 'U still the motto of this cltj , as wehavejustheardfrom the voice ef their representative . My warmes ^ thanks ta this city and its bospitable citizens . Up with your goblets , and empty them to the welfare of the good city of Munster : Sic Ube hoeh !
Escaps of Polish Prisoners . —Three of tke Polish prisoners , who were accused of high treason , and who , on account of alleged indisposition , were placed in the building of Li Charite , effected their escape on the 29 th ult . by cutting up the sheets , and knotting them together ; they let themselves out of the window , and then succeeded in making their escape over the walls of the court-yard . SWITZERLAND . A letter from Berne , of the 27 thult ., in theGmsiitutionnd , says : —* Three facts of a certain significance have jast taken place here . I have informed yon thatthe governments of the primitive cantons were thinking of convoking their lands-gemerades , in order to consult them on the situation created by
the decisions af the Diet . The laads-gemeinde of Schwjz . the largest of the primitive canton ? , yesterday , in fact , sanctioned the resolutions of the government , tending to declare that this canton would not withdraw from the Sunder bund , and would not expel the Jesuits . This decision was come to by about 7 , 000 votes against 360 on the opposite side . It is right to add , that all means , likely to influence a population and intimidate the wavering , were employed to bring about this result , which might , per * haps , have been different , had the vote taken place under the superintendence and protection of the Federal Commissioners , delegated by the Diet . This circumstance , besides , allows it to be foreseen , of what a description will be the analogous meetings
which are to take place on Sunday next , Oct . 3 , in the cantons of Uri , Unterwald , and Zug . However , ia the last , the Liberals , although in the minority , are preparing to make a demonstration of their respect for the decisions of the Diet . The eecond important faei ; ia , that the first Deputy of Friburg at the Diet , the avoyer Fonrnior , the living incarnation ot Jesuitism , ha ? , it is said , given in his resignation of Deputy and Councillor of State , probably because the majority of his colleagues differed from him in opinion . The third fact which I have to point ont to your notice is not less characteristic . Yon are aware that at Berne the Conservatives , united to the old aristocracy , had gained a certain prependerance in the elections ; notwithstanding theirefferts , the Liberal party , united to the
Radicals , yesterday gained a nomination in the Grand Council , which fact gives the most formal contradiction to our reactionary party , who pretended that the energetic conduct of the Diet bad weakened the Liberal party in the canton of Berne , and paralysed its influence in the capital . The Liberal candidate was M . Ilallwyl , a descendant of one of the heroes of the battle of Morat ; his opponent was M . d'Effinger , formerly baiili of Berthoud . ' Letters fiomBerneof the 29 th ult , say that preparations for hostilities are everywhere active in the Jiberalcantons . The cantonal government of Vaud has issued decrees calling under arms all citizens between seventeen and sixty . A general review was to have taken place on Sunday last , in the chief towns of the respective district ? . A serious affair had occurred , which threatensto create a collision between
the cantons even before the meeting of the Diet on the 18 A ultimo . Some of the national muitiaof Friburg , returning in a large body from the capital of the canton , had crossed the frontier and fired a Tolley of ball cartridge against the village of Abligea . This brutal and unprovoked act had created an immense sensation throughout the country , and the Vororthadin consequence written to the authorities oft nburg that ifaprompt satisfaction was not afforded , measures would be adopted to enforc 8 it . n Jv rep mds bj * *»« on jourcal of the exft oflar e todays of arms and ammunition , including numerous pieces of artillery to die nantm , R
fullvconBrTA 0 , £ , *** & of France , is §» te f h y letter 8 fnT Bfcrfl ( : of tie 80 th ult . bo far as thtsoroooun - Beanb . relied tn ih French E 5 . T tEinng f 1 " W t and Ending sup phestp the recusant cantons , and at the same time affording them support and countenance to her diplomacy . rentes it almost certain that the federal government will be compelled either to allow its derasions to be set at defiance or to enforce them at the pomtof the bayonet and the cannon ' s mouth . Among the liberal cantons the foremost in their warlike preparations are thelarge and powerful cantons of Berne , Zurich , and Vaud . The firat has ready for the field nearly 20 . 000 infantry . sixteen company of carbineers .
sixteen batteries of artillery , and six companies of chasseurs a cbeval . The second has 16 , 000 , and the third IS 000 men ready for action . The Batle ffazfrf . ' caunounoes that an alarming dis turbange haa broken oat in the canton of Neufchatsl "
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which is a principality annexed to the enmnjif ,, ftowsrarflS ' -iMni ^^^ confederated states of Switzerland . A revolutionary fete was celebrated there on the < 12 th of September , the authors of which the government was net able to detect . At Vallengin the portrait of the King of Prussia uas decapitated in the hall of the Palais de Justice . The council of state was in session , and the militia was called oat . Apprehentfoas of serious results were entertained . . The Swiss Federal Gazette of the 2 nd inst . states thatthe grand council of Appenzall had instructed ite deputy in the Diet to vote for the dissolution of the Sonderbund by pacific means , but that should the minority of tho Cantons refuse to submit ho was to recommend recourse to coercive measures . We read in the Belviete of the 2 nd : — 1 1 n 1
Before quitting Switzerland foi Italy , Lord Minto « ad a conference , at Lucerne with the representatives of Switzerland , France Austria , and Prussia . The Bntlish diplomatist wished to view with his own eyes men and things , which had been , represented to hia government by M . Morier and b y Mr Peel in diametrically opposite li gbti . It is said that he did Hot long remain in doubt and that hit judgment is entirely favourable to ths cause of the federal majority . An official despatch from the English Minister for Foreign Affairs has made the Directory acquainted with the mission of Lord Minto . In this document Lord- Falmerston useB terms eipresriwof great goodwill towardsthefedcralanthority , and speaks ia a manner most honourable to its president , M . Ochstnbeta . His language bears no tesemblanra to that of M . Bois le Comte . We may be assured that England will oppose every species of foreign intervention in the affairs of Switzerland . and Italy ,
ITALY . Prinrce Canino bad been making a sort of triumphal tour through Italy , accompanied by his secretary , D . Man . haranguing the people at the different towns he passed through , and calling upon them to stand firm for the independence of Italy . At Pisa the excited populace took the horses from his carriage and dragged him in triumph through the streets , and the reception of the two travellers , who were dressed in the costume of the Roman civic guard , was equally warm at Florence , Empoli . Bologna , and Ferrara . On his return to Rome , the Prince was placed under arrest by order of the Papal government , for what offence doesnot very tlearly appear .
The municipal council of Bologna voted , on the 24 th nit ., a sum of 43 , 000 f . for the armament of the Nations ! Guard . On the 22 nd the people of Kerrara carried in procession to the municipality the banner , presented to them by the inhabitants of Florence . The Austrians made no attempt to prevent the demonstration . At night the whole town was illuminated , and the cititens traversed the streets singing patriotic hyrns , and shouting vivats for Pius IX . and the independence of Italy . According to letters from Milan of the 26 th nit ., 15 , 000 Austrian troops , mostly Croats , were marching towards the frontiers ' of Piedmont , where they were to form » cordon of observation .
The CoKtemporanco , a journal published at Rome , eives . under the date ot 18 th September , accounts from Naples , received at Civita-Vecchia by the Lornbardo steamer . According to these accounts , Syracuse was in a state of insurrection ; the insurgents bad been betrayed by a general who had joined their plot with tho intention of seizing the leaders , and having them shot . Melasso and the citadel were in the hands of the insurgents ; also Catania . Since the fatal issne of the battle at Reggio , the inhabitants of the Cahbrian mountains havo risen en messe , and the Royalists have been beaten back on all quarter-. The King had , in addition to his steamers , laid an embargo on all trading vessels for the conveyance of - troops ; The prisoners takea ate immediately shst . ¦ '
The Pallade of Rome announces that Pizzo , in Calabria , has joined in the revolt , and thatthe insurgents have put to death the family of Trenta-Capih . The banner of the insurgents of Calabria bears a red cross on a ffhrte ground , surrounded by as many green crosses as there are states in Italy . A letter from Italy ia the Awtbirg Gazette announces thedeath of Admiral Baridiera , the father of the two unfortunate officers who were executed at Cosenza . The Swabian Mercury eives the following , nnder tho
date of Venice , Sept . 26 :-It appears that there was some dread of disturbances yesterday evening , on the occasion of the tombola which' had taken place in honour of the congress . A great number of persons had thronged together in the square of St Mark . The number is said to have reached € 0 , 000 . Measures are said to have hern taken to put out the gas lights . Fortunately , nothing of the kind occurred . Tho measures adopted by government have prevented the execution of this plot ; so all went off peaceably . This morning can be seen in some parts of the town these words , written with charcoal : ' Viva Pio IX ! Viva Italia ! '
A Sardinian frigate entered the port of CivHa-Vecchia on the 11 th ultimo , with 12 , 080 muskets and eight pieces of field-artillery on board , for the use of the Papal troops . Another Sardinian man-st-war was expected there . The King of Sardinia hai issued orders for repairing , with all expedition , the fortifications of Alessandria and Novara . The Lucca Gazette of the 27 th nit . contains the new law on the press , according to which everybody has a right to publish his opinions and discuss the acts of the government . All publications against religion , morality , and the righto of tho sovereign , are to be severely punished . The law
likewise prohibits _ [ offences against foreign governments , their princes , and representatives , against magistrates and clergymen ; as also against writings tendiag directly to subvert public order and the security of the state . A boar' ! of censors , composed of three members and two substitutes , was to be established , from whose decisions parties may appeal to that of a superior council , formed of five members and two substitutes . All infractions of the new law are to be punished by a fine of from twentyfive to two hundred francs , and an imprisonment of from fifteen days to six months ; ard , in cases of relapse , the fine and imprisonment may be doubled .
Tee insurrection in Ca ' abria is reported as having gaiccd strength ; and it was said General Nanriante had received two serious wounds in a conflict with the insurgents . It is also reported that a corps of artillery sent to Mangiana had joined the insurgents . The insurgents , under M . Antonio , Lonpobuoco , had seized on the town ol Colrone , on the shores of the GulfofTarentum . . On the 24 th and succeeding evening , large assemblages of people teok place in Naples en the Piazza Reale , the Largo della Caritta , and the Plarn Santa Crow . Tri-coloured banners appeared , aHd cries of 'Viva Pio IX , ' 'Italian independence , ' and ' The Constitution' were heard . After these had been dispersed , the towa exhibited all the appearance of a place in a state of siege , tho streets being constanly patrolled by squadrons of cavalry and detachments of infantry , and overrun by the agents of the police . The guards were everywhere doubled and extraordinary measures of precaution adopted .
BVACOATI 0 K OF FBRBABA OT me AUSTRIA * TROOM . The' Univers' publishes a letter from Rome of the 28 th ult .. announcing the evacuation of Ferrara by the Anstrians . Assuming that sta t ement as correct , the correspondent of the ' Univere' observes' That event is equivalent for Austria and her allies to the loss of a pitched battle , and adds considerably to theelory already acquired by the Sovereign Pontiff . That peaceable victory guarantees the independence of the powers , called in Europe feeble and secondary , against tke encroachments and intervention of those called powerful and strong ; but what affects us Catholics most deeply , is that it ensures the emancipation of the Church and frees it from the guardianship and oppression ef the great European CoIosbI . '
RUSSIA . The Frankfort Journal of the 29 tb ult . announces that the Emperor of Russia quitted St Petersburg on the 14 ih ult ., accompanied by her Royal HighneBR the Duchess of Leucatenburg and" hi 8 Aides-t ' e-Camp , Generals Orlofland Adlerberg . His Mbj ^ sty proposed to proceed to Moscow , and thence by Kicw to the ' EOuthem provinces of the empire . Letters from St Petersburgaofthe 18 th ult ., state that previous to his departure from Moscow , the Emperor had decreed a levy of seven men per every
1 , 000 inhabitants in the northern government of tha empire , which would produce about 80 , 000 recruits . This new levy was partly with a view to the extermination of the petite nobletee of Poland , who are compelled to furnish one man for every ten inhabitants , and partly to meet the havoc which it is feared the cholera will make in the ranks of the army . No doubt existed in St Petersburg that the jonrneyofthe Czar and of the Imperial family to Moscow was literally a flight from the approaching scourge .
The finances of Russia are very considerably and rapidly on the increase , and . the revenue is at this time certainly above £ 20 , 000 , 000 . The duty on brandy is the chief source , thus amounted in 1844 to about 128 , 000 , 000 oi paper rubles . The revenue of the customs is the second item , and since 1840 has amounted to above 100 . 000 , 000 paper rubles ; the poll tax produces about 80 , 000 , 000 ; tho contribu-. ions imposed upon the cultivation of grain 30 , 000 , 000 to 40 , 000 , 000 ; that imposed upon commerce , 20 , 000 . 000 to 25 000 , 000 . The post-office
returns in 1843 were 4 , 174 963 silver rubles , ami the annual revenue may be calculated at . about 15 , 000 , 000 of francs . The patents yield * from 3 , 000 , 000 to 4 , 000 , 000 , and timber the same . The mines belonging to the crown , and tho duties imposed upen tho washing fo gold in the mine 3 belonging to private persons « ive 15 , 000 , 000 to 20 , 000 , 000 ; to these sources of public revenue must be added that of the ground rents , the monopol y of tobacco and of playing cards , we tax upon salt , upon the crown manufactures ,
* £ lZ £ hi H fr , St Petersburg of the 24 th of S nnJ ' \ lUat u thech 0 lera continued to ad-Srfin iwh * / f b ^ 8 ame « mte by which it arrfi , » ifSin . W reached the ™ ™ Toula S" p 5 £ S ,, ? *\ f Mo 3 cow ) - It was believed £ JK ? f < tb f - one of the P e « on 3 whomig ht ht P « S { f r i ln 8 « "ection in Galicia wmld be executed , but the resolve of the Emperor toes-
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fe f ^ ^^ W ^ : ^ wliw * : BieaM ; t 7 ai
ni ? iiS - w ? Iwi m Athen « Jo » raal 810 tnc 20 to rLift ^ eIy ; - The Jfo ,, W Greccontains the S , ™ ^ appointing General Tzavellas , the da taM'ff £ . «» Went of the Council , and or-E ' tohSl £ > ^ Minister of Public Intone S& ^ S ^ W " of Foreign Aflfairs . The ^ Snl F ? hesth # decree ordering the civil five Java IS STfe ^ 8 ° ° ™» rn 5 n e ' ° ffiSS * KJ ! i , * C 0 tottl ; , Uo opposition journal , of GoS t ™ > alluding to the appointment Min ££ Tm . f . a 8 a 9 Patient of the Council of SSSLTJk ^ *« ling to acknowledge the KHfflt d » y him as a roldier during the war nnffiS 1 ence A considers him to be - entirely is so uneducated that he can scarcely write his own
T .. . , . TURKEY . Letters from , Constantinople announce the pro-77 " ^ a * h » . the Commander-in-Chief af the Turkish army marched from Monaater 5 * SSfi rf ' ^ ? H ^ jng ^ TheaJS *« Jn ri ¦ » 7 . herehe 'pained until the 10 th ef August , colleotin ? reinforcements . He reached F 6 « t 88 S n n 13 ] b r' ^ e » te « dBerat o n the lotft , alter having defeated and dispersed the insurgents under the command of Rappo . The latter , on hearing of the advance of the Turkish general had commanded that Youasef Be ? and his wo nXV ™ - Vf captured - 8 heald be de . capitated . This act of unnecessary cruelty had ereated universal indignation amonestthe TnrkR . nnd
\ tms determined that Rappo should receive no qHarter . Darbohor Rescind Pa ? h » , after the defeat ot the-insurgents at Berat , had cnterod Anlonia and marched on ArgyroeastrOH , where ah insurgent chief named DJanleka , was encamped with 6 , 000 men .
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IRISH DEMOCRATIC CONFEDERATION . The confederates met at Cartwright ' s on Sunday evening last , Mr Dwain in the chair , who read the address from Philadelphia to the electors of Nottingbhm . Mr Clancy addressed the meeting at great length , and concluded by moving the following rcBalution : — That as lomB of Universal Uborty wo have read with pleasure the address of the Democrats of Philadel phia to the Electors of Nottingham , and that we duty appreciate the some ; and furthermore , that Mr John Campbell is
entitled to our warmett thanks for his exertions , in giving ne expression to the feelings of American » ympahy in behalf of Ireland , and joy at tha triumphant euccesB of democracy at Nottingham , in the person of Feargus O'Cennor , E'q . Mr Martin ably supported the resolution , which waB unanimously adopted . A vote of thanks was moved to Mr George Minton , for a gift of five volumes of books , and two splendid mans of England and Ireland . An article was read from the Nation newsraper , and commented on by Meesrs Clancy , Berer , M'Carthy Tucker , Price , &c . Chair taken every Sunday evening at 8 o ' clock .
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TEE LONDON CONFEDERISTS . The Cdrran CoMFEnERATB Club—The usual weekly meeting of this . club was held on Sunday evening the 3 rd inst ., at the Charter Coffeehouse , Strutton-ground , Westminster ; Mr Richard Hussey was called to the chair . Mr McSweeneyread an Anti-Irish article from the . Dispatch of last week— ' Ireland's Opportunity . ' lie said a mere infamous and cold-blooded article he never read , but in fnot it wan in keeping with that paper ' s general . conduct , it beiHg the deadly opponent of justice to the working classes of England ., The chairman , in a brief speech , alluded to tho oharges brought against them , after which . Mr Kenealy , in a lengthened speech , explained the objects of the confederation , and impressed upon the meetlne the necessit y of leaving it to historv tn
tell of the merits . and demerits of O' Connell . Mr Reynolds , in an energetic speech , reviewed the conductofMrO'Conuell . He contrasted it . with that of the late Dr Doyle , in the case of the forty shilling freeholders . It might be said that he had no right to review , the conduct of Mr O'Connell , but it must not be forgotten that there were persons present who had always opposed b / m , on account of the opinions he entertained of that individual ; thote parties now admitted he was right in that opinion . O'Cennell was a public man , and as suth he would deal with him . He had strictly watched his conduct from 1825 to 1846 , and he had always found him preaching that which he never intended to perform . lie intended the Repeal agitation to be a delusion , but
the Iriah people intended it to be a reality , an < l he ( Mr Reynolds ) was there that , evening to assist them in carrying it out . Mr Reynolds was loudly cheered throughout his address . A committee havi » ft been named to carry out the proceedings of the e ' tib . the meeting then separated . Chelsea . —On Sunday evening a preliminary meeting of the Confederates ot Chelsea was held at the King ' a-arras , Upper Ebury-street , Pimlioo . Mr Francis Courtney in the chair . The meeting was respectably attended , and it was announced by the chairman that a raore appropriate place would bo obtained in the ensuing week , to hold their next meeting . Twenty persons having paid . in their sub scriptiorm , the meeting adjourned .
ThbDavis Club—The' Confederates of this olnb held their weeklv meeting on Monday evening , the 4 th in ? t ., at 83 , Dean street . Mr Ganey in the chair . The report of the council in Dublin , find the correspondence of Mr Anstey with Lord John Riwcll , having been read , Mr Ftzgibboa said that he had just returned from Cork . He would for their information detail to them what came under his observation . In the steamer that went from Bristol to Cork a'few pigs and sheep which were going to Cork as stock for breeding , were taken every care of below at 33 . perhead , whilo the poor Irish paupers were not permitted to leave the deck even in bad weather , although a much larger sum was paid for their passage . While in Cork he visited several of the farmers , but they were not so intelligent as they
ought to be , but after conversingwith them for gome time , they admitted the justice of the principles of the Confederation , and the only reason they assigned for net joining that body was , that the priests had not done so . He would now draw their attention to the exports from Ireland , In the vessel in which he returned to Bristol there were on board 1 , 200 bags of fine oats , and the remainder of the freight was made up of butter and bacon to feed the English people , when it was required at home . This waB the wretched state of affairs in his unfortunate country . Mr Williams ( a member of the council of the Confederation is Dublin ) was here introduced to the meeting . He said he had travelled from Done , gal to Kerry , and the desolating Bcenes he had visited would move a heart of stone , but it appeared it had
not moved the sympathy of the Whies , ( cries , they have got none . ) It was lamentable to Bee the empty shop of the bankrupt trader , and the wan and deathlike appearance of the peoplo . In fact tho 'famine of 1846-7 had no parallel . The Whigs had effected their clearest vfiBh , in , decimating Ireland , so that they might be enabled to turn over the soil of that country to the English capitalist . They were , by ao doing , guilty of the foul crime of murd ' er , and for such they ought to be arraigned . ( Cheers . ) He was glad to ear that the conduct of the British government bad done ' much to cement Irishmen together . The altered tone of the press at once
bespoke the feelings of Irishmen . There would shortly only be two parties in Ireland—repealers and non-repealers . Numbers of his Protestant brethren would join the Confederates , who held aloof from the Repeal Association , on account of the sectarian nature of its proceedings . He should feel proud in mentioning to his brother councillors , in Dublin , the progress made by them in this metropolis . ( Cheers . ) The meeting was afterwards addressed b 7 Mcssra Kenealy , O'Mahoney , Ac , and it was announced that Mr T . C . Anstey , M . P ., would deliver a lecture on Monday evening next . Several new members were enrolled . The meeting , which was crowded , then broke up .
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West Losson Cestral Ami-Enclosurb Associanov . —At the last weekly meeting of this association at the Princess Royal , Circus-streot , New-road , October 4 th , Mr Moore in the chair , a most stormy debate ensued as to whether tho library should bo separated from the association , to please those who , it appeared , had joined for no other purpose than depriving the association of its library . The committee which had been appointed to arrange matters amicably were at war amongst themselves , and came to the conclusion , that no conclusion could be come to satisfactory , nt least to all parties , more especially
when the secretary declared that the books being given to the Anti-Enclosure Association could not be taken from the association to form another iibrary . The dispute ending in five . porsons , who were not members , forming themselves into a committee to Btart a library for the disinteresttd , which they have done , and for which party the Anti-Endosuro Association has been deprived of its room of meeting at the Princes 3 Royal , This is the third time this association has been deprived of its room of meeting through adherence to principle . Until further notice , meetings will be held at No 3 , Upper Dorset-street , Blandford-square , Marylebono , each Monday , at seven for eight , p . m .
TRADR IN BURKLEY . —A local paper SftVS . it 13 OUrrently repsrted that Bhort time is abput to be commenced at nearly all the cotton mills in Buynley . One firm is said to have given the hands notice to stop altogether , and several oihora are about to run only three days in the week . But for the comparatively low price of provisions , the prospects of the poor of this neighbourhood for the ensuing winter are gloomy and depressing . It is also rumoured that aoonsidcrablfjreduction of wages is in contemplation . The children in the femalo ragged Bchcol at Edinburgh , have worked a very elegant bed coverlet for the Rev . T . Gutkie , the eloquent auYoeateof such institutions .
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reasoning from effects to theircauL t Pftn k ' , ^ proved that a ruinous excess h ^ X ^ S mitted and must continue ; ana that it is to this excess in the emission of paper that the ministers have been wholly indebted for all their schemes of finance since the 26 th of February , 1797 . When Lord Hawksbury latel y declared , th at the bank directors were desirous to resume their pay ments . in specie , but that the government prevented them , he has openly avowed , that though the bank could stand upon the foundation of gold and silver ,
the government could not .. When bis lordship has taken so much pains to prove that it is not the bank that wishes to postpone its payments in specie , is it not singular that he should-not have perceived , that in taking it upon himself he was making the fullest confession of the ruinous shifts to which he and his colleagues were driven to prolong the existence of their desperate system . First . The first fact which affords a direct proof ?« w ^ prJlation i 8 « that the Bank of England . s " l amqunt of it 8 note 9 in circulation by seven m . lhons and a half * , since 1797 ; and allowing that fifty rniiii 0 ns haveb £ en £ ! & £ ? £ ? 2 Sl ? f ? ? IOns of these natienal b <» * ^ tes , Februar Sj S * . ^ the circulation 8 ince
niir fo , 7 hi f ° Ur yeWS Of the ™ & * ™~ luster found the greatest difficult y to borrow sixty tZi \* o , dirfctors frota Janu « y . 1795 , to February , 1797 t , and it is impossible to describe SS £ ? S ifficulties lhe i ' inister " 5353 whihZ w 81 Xty ; ix m « M » M » w the distress towhich the bank was driven to give him apart of the dii ? ?? , ? ' such a height had hi difficulties of the minister risen , in these four first for dfi * T' , t 0 raise « ie toTlK . K & ? £ W Uon 8 ' ™ obliged to have recourse
ggKsrasKts SH : } }? T d one hundred , and fifty-se w * SS 5 fVhe n 8 ti 0 naI bankruptcy , without Kkfi ? " l mr ' \ mX ^ ? PPear thafthose : * tiT ; whOM ^ » 8 trti i | s 'wfc ' anceI ,-. £ ™ i f rava * ance of «* ™ mW > n ' -befour h . VoZ > n / - badbut ^^ Ita «** » 52 / i - « fa circulation , i&aW ec ^ r mum-SS > 9 h they are augmmM ( o iixte ™
iJ ^ iw" ? "?' from the 8 ame causp " t ^ renruaiy ] , 97 , at the end rf ft f tlS £ theyr ° . 8 ix ^ venfattuTLd badanvip f ye f ? since 1797 ' before the peace SrfJafS * * f ' ? ard 8 the end of a » £ Ss 7 th ^ S expen 81 ve e ™ ™» aed * * e b tweeSeSp f ^ , " ' the differen <* oeiween tne price of gold valued by its own sterliBe intrinsic value , and valued by the deprecated cut 5 £ Bankof . England ^ ' - ™! iS writing , government is issuing dollars at more than ekven per cent above their value , and even at this nte it may be foreseen they will disappear like the
Fifth . The great and general rise which has taker place m the price of all sor { 8 of commodities , aixtn . ihe total disappearance of specie . | J Seventh . The extraordinary phenomenon of the taxe , being more productive in proportion as they have been augmented , even to double the former amouot ; and at the end of a war in which there has beeu sucli a vast expenditure of the national capital . Even this very year the minister has laid on an ad > iTr ^ nnn ^ M . 0 the raonstroB 8 amount of ^ 12 . 700 , 000 , and has had the . simplicity or the ig . norauce to b oast of t heir being productive , as if the & < ality he boasts of could be ascribed to any other cause , than paper depreciation . ^
17 JVS ? T ° u hese effects ' Opening since 1797 , which can be attributed toany other cause than the excess in the emission of paper , and the consequent depreciation ? The state of the bauk of 2 * 1 affordB a positiTe fact dire ° « y to ^ . purpose * ¦ The difficulties the minister experienced to raise a comparatively small sum , in the four first years of the war , and the facility with which he has raised more than double the sum in the last five years of the
war , together with the rise in the funds , aft moving round the 26 th of February , 1797 , as if that day was the centre upon which the fortune of Britain Sw "; r / ° dir ?? Uy t 0 the Sreat ^ uestion of ™ - eotUwttibihty- and if ' no other cause can be assigned for this wonderful revolution in the finances , and I defy ministers to assi gn any other , I fear inexhamti- ¦ fe&fymiut be expunged , and assignats and bankruptcy must be set in its place ; while the rise of ' the price of all sorts of commodities , especially gold . Nino and a half militant new . t See the Annual Register' of 1797 , t Now eighteen millions . 5 Ho aoubt thera will ceme a time when the funds will sink in spite of the effects of the depreciation of paper to raise them . WhtH the people of England caa nee thtir real situation , they will for « i a cbrreswmdent opinion . \ t h , ! ^ f Aldington lately inveighed so bitterly against hoarding , and of the wantof public spirit ' in those who hare the comeaen iense ' to rescue their familWirom absolute want at a crisis of juch prodigality and ruin . he displayed a simplicity and ignorance truly deierlpthe of the- sort of minUter to whom the affairs of Great Britain have b « en committed at tht moit critical peri » d of her existence . A friend of mine stopped by a high , vraytnan on Blackheath , gave him a guinea . ' Sir , ' said fte robber , you are the fifth I hate Btoppsd this night ,. who have h&d but a guinea ; tbig hoarding won ' t do ; there nev « r wab to much business done in our way since the memory of man as at present . ' Strange that * prime minister and a highwayman should find the same Eolation of their difficulties in the same complaint ; for so says Mr Addington . ' This honrdinj won't do ; there never was so much business dooe in the memory of mas in aur way as at present . ' H From the importnaee which merchants attach to the state of exchange , it may be thought it should enter into this sntyct ; but considered in a general point of view , it will be found a mere floating circumstance , of which the appsarsness are too oquivocal and uncertain to admit of its being the subject of general reasoning . From the quantity of her mannfactures , and of East and West India produce with which Great Britain sun . plies all Europe , particularl y in war time , when her mantime domination gives her a monopoly of foreign commodities , from a particular circumstance it mashappen thatthe nations of Europe might find some diffi . cnlty in paying Great Britain for her commodities , by which exchange might be turnod considerably in her favour . From 1780 to 1803 there have been but three years in which tbe produce of Great Britain has snfficed for her subeistenee . Generall y speaking , her agriculture falls so far short to supply her , that seven ' j ears in tight sho is beholden to America and Europe for her subsistence . In the House of Lords , on the 23 rd July , 1800 , Lord Liverpool said , 'Yes , ray lords , m one single year we have paid £ 5 , 606 , 000 for the grain iaported into England ; and It it a fact that Great Britain does not produce a sufficiency of grain for the subiistenee of its inhabitants . ' The year before last , the mere bonntica paid by government for the encouragement o £ the importation of corn , amounted to £ 1 , 638 587 bnt last jcar was a year . of such extraordinary abundance that no corn has been imported } and thl » extraor . dinary circumstance is the reason why eichane * is bo much in favour of Great Britain , Ifithudbecn a year of ordinary harvest , in which she had to purchase several million worth ef corn , the exchaBge * o 3 Jon , Th ^ -r C aetin 5 the ra 8 iti 9 n ° w in ber fa-Ht ' v ,, "T betWCen "B ^ raordinaryabu n-J ; E ^?? ^ nOt SO ' make 8 adiffe « nce of SL Ta hlry f illons ™« h ^ the national pro . t ?» Grea , . * JrUain $ 6 na « the coming year should not prove a like year of extraordinary abundance , the Til v pwcciT e how mnai h <> >> " b « n beholdento this abundance , not only for the state of exchange , but for the practicability of going on with bis system , Too state of oxchango is so fallacious a standard of national prosperity , that the very measure which may be the effect of the deepest national distress may be the means for a time , ot giving a most favourable turn to the state of exchange . For instance , the distress aad slagnntion of trade may oblige the English traders to tell ttwir geodB at a considerable per centage under prime cost ; yot this ruinous spendthrift commerce would , for a time , turn tho exchange in favour of England . Query , is it not to some such act that she is , in part , indebted for tbe present state of exchange ? So true is it , that the most favourable state of exchange iB no criterien of national prosperity , that daring tne lato year of peace , nheu England respired after a nine yearn ' war , exchange tras greatly against her ; and now , that sho is plunged into the most ruinous war , it is ss muth in her favour . . The intelligent reader cannot fall t ; etserve bow much tUs effect of this extraordinary abundant harvest , in choapening the firtt great necessary of life , and in croatta ? this favourable cscbaBge , has checked the march of depreciation , I
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ME VmSENT STATE OF GREAT -BRITAIN ? . v ,. CHAPTER In , Failure of the lank of England and its consequences . oZ A , V order of C 0 UnciI toe ministry on the 26 th of February 1797 , forbid the bank of England to discharge its notes in gold « . silver , and which has been since passed into a law , the whole paper currency of the nation lias been deprived of the only means of ascertainmg , from time to time , how far the emission of paper has been increased , beyond SiSS . /'" I ? ° Ule nalion & ^ rei to circulate its transferable properly .
As long as the law existed ,- which obliged everv bank and every individual to pay the amount of their notes in gold or silver when presented , or in case of failure to be declared bankrupt , the nation possessed the means of ascertaining that thequantity of paper in circulation did not exceed the Juan-26 h opebruary 1797 , the nation has been at sea without rudder or compass , with the whole of her property at stake in the venture . When the late minister took this truW desperate step , and passed the Rubicon , to inflict onhiscountry the most inevitable , and universally ruinous bankruptcy that , was ever sprung under the feet of a credulous nation , he adopted the most fascinating and certain means that the mind of man could
devise , to insure his country ' s destruction : a destruction which must be accomp lished by a combination of the most active , uniform and powerful propennoes of the human heart , without one single stay to restrain them . It is now the interest of every banker , and of every trader who deals in tbe issue of paper ( and I Sneropnt If" l ° " ' that ashG efs «» saves S *^ s ss « ^ : ^ W f ^ StSKK . 'S £ 8 , 640 , 250 on the 26 th of February 1797 , had is . sued * £ 16 . 108 , 616 , on the 1 st of Februarv 1803 .-
Though seven and a half millions f addition to the circulating medium , in so short a lime , may not appear m all its force to those who do not distinguish between the vast disproportion which exists in every country , between the circulating medium , and the property circulated , yet when it is considered how very small a sum of circulating medium circulates an immense mass of transferable property , how often the same piece of money is capable of transfermg different and distinct portions of property in a single day , some estimate may be made , of the amount of the transferable goods that may be circuated , even directly , by these seven and a half millions , I say directly , for indirectly the effect is prodigious . ¦
By the law , all other dealers in the issuing of paper are exempted from paying in cash , provided they discharge their obligations in notes of the bank of England 5 henca the stock which used to be kept in specie , is now kept in these national bank notes ; though there is an essential difference between specie and bank note 5 the difference between one bank note and another is matter of opinion , when neither are payable in cash . A man will often go to a bank to get cash for a note , but he will seldom take that trouble to get one note for another t ; hence a very small amount of bank ot England notes will enable all the other bankers in Great Britain to circulate a great quantitof theirs .
y At a time when hanks were obliged to pay their notes in specie , and when no notes under five pounds were issued , ten millions at least may have been necessary to answer the occasional demands for fifty millions of bank notes ; but now that one pound notesjare issued , these fifty millions may be circulated by a stock of five millions I of the notes of the bank of England ; by which means , directly and indirectly , the augmentation which has been made to the paper currency would be fifty-two and a half miilions .
But neither the bank of England , nor these persons called bankers , are the only , or even the principal means , by which the paper ' circulating medium is furnished ; every trader in Great Britain , from the highest to the lowest , issues his paper , and it is these private bills of exchange , vtith all the various acceptances , which form by far the greatest part of the paper currency of England . When we consider how utterly impossible it is to calculate , nay , how utterly every sort of data is wanting to form an idea of the amount of these different sorts of paper , which every different description of trader has a . powerful interest , and , in these times , a pressing necessity , to send into circu .
lation : when we consider to what length projectors , sharpers , swindlers , desperate adventurers , and even well-intentioned traders when pressed , or when threatened with bankruptcy , can now force the emission of paper ; when we consider the thousand pernicious and fraudulent means which the ingenuity of man has invented , such as drawing and re-drawing , etc ., practices so difficult to be detected even when the ordeal of gold and silver existed , and now utterly impossible ; when we consider . what a vast amount of capital ¦ has ' been expended in nip . e years , and what an accumulation of taxes '; when we consider in times of . such general
pressure , from such unexampled prodigality , with what earnestness the banks and all those who deal in the emission of paper , must . be importuned by every description of persons , from the government to the lowest trader ; and when we consider how much it is the interest of these bankers to yield to these general and pressing importunities ; and how entirely they are relieved from all risk by the dispeni sation from paying the notes they issue in cash ; the mind of man cannot conceive a situation . where there is more aptitude , more incentives , to inundate the nation with a torrent of paper , or where there are less to oppose or restrain it .
, , ^ i ; i , These dispositions are still farther increased by the vulgar error , but too ' generally adopted by those who should have known better , thatthe mote national capital has been expended , and consequentl y the more distress , the more liberall y bankers should augment the , amount of their notes ; whereas the duty of banks should be the direct reverse ; and as the national capital diminishes , so should the amount of the bank notes . This vulgar error arises from confounding the machine which circulates with the property cireulated . The more of the national capital , that is , the more of the provisions , manufactures and materials for manufactures that have been expended , the less circulating medium it requires to circulate the remainder .
When the minister expended 223 millions of the national capital , and when he diminished the produce of the national industry by thirty-three millions , which arose from the profits , he threw the circulating medium which circulated these 223 millions of capital , and these thirty-three millions of profits out of the circulation ; there being no farther employment for the medium after the property waB gone ; and if gold and silver had continued to be the only legal circulating medium , a portion proportionate to the diminution of the national capital and income would have been withdrawn from the circulation .
k 5 1 , I , - s 3 t 1 Having demonstrated that , by the law which substituted paper for gold and silver , there exists every inducement , and eveiy interest , with all descriptions oi persons , to augment the circulating paper medium beyond the quantity wanted to circulate the national property having demonstrated that by the banishment of gold and silver , no possible means exist to restrain or to limit this ruinous augmentation ; seeing that a direct proof from the impossibility of estimating the thousand different modes by which paper can be issued , is not within
» V y l- It ) j , , „ the reach of human research ; the onus lies with the advocates for the inexhaustibility ot Briiish resources to set forth some plausible grounds for sup . posing that an excess in the emission of paper , and a depreciation , have not taken place . They should show by what possible means the government ( by far the , greatest spendthrift itself ) can prevent ' a paper emission from being increased even to saturation ; they should show that this vapouring about the inexhaustibility of the British resources is not clearly disproved by the fact , that this bankruptcy
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01 5 J ot 3 j r CB ct es ; d ?• 8- 56 " » ¦ * Since writing tke above the state if the bank ol England notes in circulation lias been published , bj ¦ which it appears , that there were to tbe asioun * ol £ 17 . 032 , 930 in circulation on lhe 25 th NovcmW , 1803 , being an increase of near t « o millions Eince February las » . The reader will carry this in bis mind as he gocB aloBg , and apply it . —Ho will appreciate it in its direct effect , and what is still more in its indirect tlfcct . t Now increased to nine and a half millions , t The notes of private bankers , and even tbe notes of private individuals , are now veryfreguentij preferred to bank of England notes . § I do not give tbeso as tbe exact 6 u » s , but as approximations to the truth . I give them only to iHus . trate the indirect tftuct of these bank nettt to increase the pnper currency ; it is . clear tbat from their own nature , the exact sums are not ascertftioeble .
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Oam 1847 ' THE NORTHERN 8 TAR . ____„ —
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Citation
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Northern Star (1837-1852), Oct. 9, 1847, page 7, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/ns/issues/vm2-ncseproduct1439/page/7/
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