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Oi October 0, 1847. THE NORTHERN STA& 7 ...
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• THB.l4fIPNAL^I/AND COMPANY. , IO raXIi...
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INDIA AND CHINA. Letters from Bombay to ...
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IRISH DEMOCRATIC CONFEDERATION. The conf...
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THE LONDON CONFEDERISTS. Tna Cobban Cobf...
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West Loksoh Cbnibai Akii-Enclosubb Assoo...
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•THE -PRE $ENT,STATE OF GREAT - BRITAIN;...
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. * Since writing the above the state of...
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« Nine and a half millions new. t See tb...
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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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Oi October 0, 1847. The Northern Sta& 7 ...
Oi October 0 , 1847 . THE NORTHERN STA & 7 »» - «»*» - « - * W » ^ ?^ —— - ^ »^— ^»«— .- . 1 m —mmj- ± - ± Z - ¦ - ¦ ..... ¦„ ..,. - 1 TIIT 11 IW—III ———— ' —»———^— - * - - "
• Thb.L4fipnal^I/And Company. , Io Raxii...
• THB . l 4 fIPNAL ^ I / AND COMPANY . , IO raXIiriOB OFIHT . 50 BrHXB 58 IAB . Sh Sir , —Having in my former letters adverted to the lerii dep lorable state of the entire labouring population usd and asserted that the Natiosai . Land CoMwure is at a at present established , is calculated to open tbe f » j v ?» y fflr ' * ranoval of the greatest evils under trail which they labour , it is my duty , in this conclulin | ding letter , to observe on the peculiar merits of he the Plan . 1 The first Is , that it addresses itself directly to the uar nsirersal love of possession which actuates mankind i—a .-and which makes all labour tbat improves our ow own property , a pleasure rather than a toil .
' i The next is- ^ -its feasibility . It is no speculative th < theory which is to bring about t new millenium ; it it is founded on the experience of practical far . ia < sers , poor and . rich . A writer of thirty years ago , ob observes , with regard to the allotment system , t ! three acres of land would place the poor man in B st state of independence , and enable him to pay rent , ia rates , and taxes , ' and in the report of the late Land 0 Commission , we find the following ; question from L lord Devon , 'Would small fanners with farms of fir from four to ten acres be able to pay rent and suppi port themselves ? ' Mark the reply , « I know of a small farmers , with four to six acres , being more ini dependent than large tillage farmers , because
FARMERS OF THIS CLASS TILL WITH MANUAL labour ; and thus the groundis better tilled and more productive ; they also keep two or three pigs in the year , and this enables them to pay their rent ; on tho contrary ; farmers with twenty to twenty-five acresi will keep a couple of hones , whose support takes away nearly all the profit , and a great proper- '< fion of the produce ef the farm . ' IVow , 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 both being dependent for their possession oa the caprice of others ; if , under such disadvantages , they thrive better than large farmers , what must be the result when the labourer resides in the very centre of his land , and is independent of any landlord ?
If the value 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—absolutely nearly one month out of the twelve . Here is at once a loss which those whose capital is their time , can scarcely sacrifice too much to avoid—add to this the fatigue endured by 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 ether countries as well as ours , find it answer their purpose better to till their own land , than to work st hig h wages for a master .
Nor conld it be otherwise ; lasd being the origin and foundation of all other wealth ; the raw material whence aU other riches are manufactured , it follows that he who cultivates it carefully 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 alter two voyages than did the raw material at Calicut—still lasd maintains a fair average price , and even the panic occasioned by the repeal of the Corn Laws did not alter 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 body into conturner * , 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 willingness 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 ia indirect ways , the prosperous Iandownerjiving on his two , three , or four acres , would find many expenses which might at the outset press heavily on him , 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 , but it would , "Jn" indirect ways , increase the demand for manufactures , and , of course , fur operatives . This
making them in turn prosperous , tbe poor rate and other taxes , which now oppress the landholder , wonld be diminished , until those only wonld be levied that were absolutely needed for the expenses of the government ; these , finally , faffing on the whole populatioD , instead of about one-half , would be cheerfully and readily paid by every man of common sense . And this brings me to that part of the scheme which professes to bring tbe 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 . ahrief 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 no wis , the shareholders
will derive the greatest possible amount of benefit from purchasing and contracting on the largest scale , whilst they will not have the possibility of any fear of the misappropriation of their subscriptions Although under government rule , there will be so government jobbing . 2 nd . —Tbe benefit to the whale nation , from the subscriptions , which would be paid into the Exchequer , rendering the government independent of foreign aid , either in the shape of loans , or of forbearance . A rich government , like a wealthy man , commands the respect of these whose purses are empty .
3 rd . —The good understanding which must spring np between the people and their rulers , when the former stand in the new position of benefactors to the latter , and from tbe easy circumstances in which the peasantry will find themselves , 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 not increase as rapidly as now ; for whilst the poor man note can hope 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-Country air , wholesome food , and 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 ?'
" Othello ' s occupation ' a gone I " Sorely the people win not think a little present self-denial a task , when it is to produce such happy results ? But I must conclude , and I do so in reminding them that in their hands rests their own destiny , as well as that of their country at large . The people are they to whom alone the government can look for efficient aid ; 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 borders of the promised land , will still lead them on , but theymrist / c & whiraif they would obtain posses * aon , —that is and must be their own act and deed . Bnt 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 T Yet I conld not see prospects so cheering before the people without entreating them to open their eyes to behold them . I conld not be silent whilst I had the hope that I might aid , in ever so slight a degree , the views of the founder of the Land Plan . I am , Sir , Very faithfnlly yours , : Philodemos .
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India And China. Letters From Bombay To ...
INDIA AND CHINA . Letters from Bombay to the 31 st of August have been received . Sir Charles Napier had sent in his formal resignation of the government of Sclnde . In the Panjaub the influence of our Resident with the Durbar continued on a firm footing . There have been « ome disturbances of no great importance iu the Jullundur Doab and Nepaul . The reductions in the Indian army are stated to amount to 47 , 000 men , leaving an army still stronger by above 60 , 000 men than in 1833 .
. FRANCE . The Para papers bring more reports ef parliamentary reform banquets . A demonstration of this kind , on a great scale , took place in the theatre at CouIommieM , and was attended by three hundred guests , including MM . Georges Lafayette , Odillon Barrot , and other members of the opposition in the Chamber , twenty mayors of the arrondissement , commanders of the National Guard , and seven municipal councillors . The usual toasts were given and speeches spoken . Another banquet has been holden at Orleans . , When the . Prince deMontfort quitted St Leu ( says the Constitutionnel ) he was the object of the warmest acclamations . Hiscarriage , which contained , besides
the Princess Mathilde , another lady of the family , said to be one of Lucien ' s daughters , and the Duke dePadoue . Jiad to work its passage through the crowd , which the National Guards and the veterans of . the Imperial army , drawn np ia line , but who were too much affected todotheservice , endeavouredin vain to keep' back . At the view of the Prince , whose resemblance to the Emperor struck every one , all per sons spontaneously raised their hats , and cried out , 'Vive rEmpereur / 'Yive la Liberie ! ' . The cries only ceased when the carriage was out of sight . We read in the Pratt i— 'The Patrie announces that the Ministry has , within the last few days , prohibited tbe singing in any publio place of the hymn of Pius IX We are , in fact , assured that this hymn , which was to be sung on Sunday and Monday at the Chateau des Fieurs , was interdicted by tfae Prefect of Police , on the pretext that France wished to remain neutral ia the affairs of Italy , and that the hymn in
auestion . ifaung in public , might be considered by ie foreign powers aa a manifestation . The National publishes a letter from Nismes which stares that M . Armand Barbes , the leader of the revolt in Paris in the year 1839 ( who , it will be remembered , is a barrister , anda 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 fulminatiegbombs exploded on Friday evening in the Faubourg St Anto ' me and the Marais . On this occasion ' two . men were arrested for having thrown them . They were recognised as workmen known for their extreme radical opinions . Being placed provisionally in the j > o * fe of the Place de la Bastille , 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 Censcur of Lyons states , that the troops employed to disperse some groups . of curious persons who had assembled before the convent 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 Centeur , ' is to be thought of a government which has recourse to musketry aud 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 are to be alienated for tbe 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 generally denounced as arbitrary and unconstitutional .
The refastl by General Espartero of the offer of the post of Spanish Minister in London hid been received . A Saragossa paper announces the capture of the celebrated Carlist chieftain Martial , and the destruction of his band .
GERMANY . The Prussian king has been making atonr thronh 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 Liedertafel sung in chorus Schneider ' s ode in honour of the King , beginning with the words 'Beicht mir einen Brccher * golden muss er tein . ' ( Reach me a goblet , 't must be of purest gold ) . A d the burgomeister , iu an appropriate speech , proposed a toast in honour of the King , which was responded to by each guest emptying his goblet of Rhenish , and three rounds of cheers . ' Unser allergnadigster Roniq lele hoeh ! ' His Majesty then , in a clear
voice , expressed himself as follows : —¦ Let each mam fill his goblet to the brim with German wine J It is now thirty years since I first set foot in ths good < uty of Monster ; as I found it then so have I ever since found it at subsequent visits ; faithful , firm , and true , loyalty ia risible on tbe countenance ! of the sons and daughters of this city . They never changed in the hour of danger , whea the seeds of discord were scattered about . Faithful , firm , and true waa the voice oftheir deputies at ths meeting of tha states . Faithfal , firm , aad true , 'is still the motto of this city , at we have Just heard from the voice ef their representative . My warmest thanks to this city and ita hospita ble citizens . Up witb your goblet * , and empty them to tbe welfare of the good city of Monster ; Sie lebe hoch !
Escape of Polish Prisoners . —Three of the Polish prisoners , who were accused of high treason , and who , oa account of alleged indisposition , were placed in the building of La 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 theCbnstftutionml , says : — ' Three facts of a certain significance have jast taken place here . I have informed you thatthe governments of the primitive cantons were thinking of convoking their lands-gemeindes , in order to consult them on the situation created by the decisions ef the Diet The lands-gemeinde of Schwyz . the largest of tfae primitive canton ? , yesterday , in fact , sanctioned the resolutions of the government , tending to declare tbat this canton would not withdraw from theSonderbund , 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 , whieh might , perhaps , 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 , in the last , the Liberals , although in the minority , are preparing to make a demonstration of their respect for the decisions of the Diet . The second important fact is , that the first Deputy of Friburg at the Diet , the avoyer Fournior , the living incarnation ot Jesuitism , has , 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 out to your notice is not less characteristic . You are aware that at Berne the Conservatives , united to the old aristocracy , had gained a certain preponderance in the elections ; notwithstanding their efforts , the Liberal party , united to the Radicals , yesterday gained a nomination is the Grand Council , which fact gives the most formal contradiction to our reactionary party , who pretended that the energetic conduct of tha Diet had weakened the Liberal party in tbe canton of Berne , and paralysed its influence in the capital . Tbe Liberal candidate was M . Ilallwyl , a descendant of one of the heroes
of the battle of Mbrat ; his opponent was M . d Juhnger , formerly bailli of Berthoad . ' Letters fromBerneof ths 29 th ult , saythat preparations for hcstilities are everywhere active in the Liberalcantons . 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 lait , in the chief towns of the respective districts . A serious affair had occurred , whieh threatensto create a collision between the cantons even before the meeting of the Diet on the 18 th ultimo . Some of the national militia of Friburg , returning in a large body from the capital of the canton , had crossed the frontier and fired a volley of ball cartridge against the village of Abligen .
Thia brutal and unprovoked act had created an immense sensation throughout the country , and the Vorort had in consequence written to the authorities of Friburg that if a prompt satisfaction was not afforded , measures would be adopted to enforce it . The report made by a Besanson journal of the expedition of large convoys of arms and ammunition , including numerous pieces of artillery , to the cantons ot the Sonderbund from the arsenals of France , is fully confirmed by letters from Berne of the 30 th ult . So far as these eccouu ' s can b : relied tn , ih French government giving active support and sending
supplies to the recusant cantons , and at the same time affording them support and countenance by her diplomacy , renders it almost certain that the federal government will be compelled either to allow its decisions to be set at defiance or to enforce them at the pointof the bayonet and the cannon's mouth . Among tbe liberal cantons the foremost in their warlike preparationsare thelarge and powerful cantons of Berne , Zurich , and Yaud . The first has ready for tho 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 18 000 men ready for action .
The Basle Gasetteamounces that an alarming die . turbance has broken out in ( he canton of Neufchatel
India And China. Letters From Bombay To ...
which is a , principality . jmhJBxedio . the . crown of . Prussia , at the same time that it forms one of the confederated states of Switzerland . 'A Kyol . utionary feu was celebrated there on the 12 . 5 : 0 * September , the authors of wbichthe SoTernment was not able to detect . At Vall sugih the portrait of the King of ? V &*&\ Mtchdtettp { laUd \ n the hall of the Palais de Justice . The council of state was in session , and the militia was called out . Apprehensions of serious results were entertained . ' The Swiss Federal Gazette of the 2 nd inst . slates that tbe grand council of Appensell had instructed its deputy in the Diet to vote for the dissolution of the Sonderbund by pacific means , but that should the minority of the Cantons refuse to submit he wa * to recommend recourse to coercive measures . We read in the Helviete of the 2 nd : —
Before quitting Switzerlaadfot Italy , Lord Vinto had % conference ' at Lucerne with tbe representatives of Switzerland , France Anuria , and Prussia . TheBngllsb diplomatist wished to view with his own eyes men and things , which had been represented to his government by M . Verier and by Mr Peel in diametrically oppoiitelights . It is said that he did not lrag remain in doubt , and that hii judgment is entirely favourable to tha cause of the federal majority . An official despatch from the English Minister for Foreign Affair * has made the Directory acquainted with the mission of Lord Minto . In this document Lord Palmerston uses tenni espreaaiveof great good will towards the federal authority , and speaks in a manner most honourable to its president , M . Oebsenbein . His language bean no lesem . blanre to that of M . Bois le Comte . We may be assured tbat England will oppose . every species of foreign intervention in the affairs of Switeerland and Italy .
ITALY . Princce Caninohad 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 61 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 elearly appear .
Tho municipal councir of Bologna voted , on . the 24 th ult ., a sum of 43 , 060 f . for the armament of the National Guard . On the 22 nd ' the people of Ferrara 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 citizens traversed the streets singing patriotic hyms , and shouting vivats for Pius IX . and the independence of Italy . According to letters from , Milan of the 26 th ult ., 15 , 000 Austrian troops , mostly Croats , were marching towards the frontierslof . Piedmont , ' where they were to form a cordon of observation .
The Contemporanco , ajonrnal published at Rome , gives , under the date of 18 th September , accounts from Naples , received at Civita-Vecchia by the Lpmbardo steamer . According to . these accounts , Syracuse was in a state of insurrection ; the insurgents had been betrayed by a general who had joined their plot with the 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 issue of the battle at . Reggio , the inhabitants of the Calabriah mountains have risen en masse , 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 taken are immediately shot .
The Ballade of Rome , announces that Puzo , in Calabria , has Joined in tbe revolt , sod that the insurgents have put to death the family of Trenta-Capili . The banner of the insurgents of Calabria bears a red cross on a * hite ground , surrounded by as many green crosses as there are states in Italy . A letter from Italy iu the Augtbnrg Saztite announces thedeath of Admiral Bandiera , the father of the two unfortunate officers who were executed at Cosenza . The Suabian Mercury eives the following , under the 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 50 , 000 . Measures are said to have been taken to put out the gas lights . Fortunately , nothing of the kind occurred . The measures adopted by government have prevented the execution of thia plot ; so all went off peaceably . Thia morning can be seen in some parts of the town these words , written with charcoal : ' Viva Pio IX ! Viva Italia l '
A Sardinian frigate entered the port of Civita-Vecchia on the 11 th ultimo , with 12 , 080 muskets and eight pieces of field-artillery on . board , for the use of tbe Papal troops . Another Sardinian man-el-war was expected there . The King of Sardinia has issued orders for repairing , with all expedition , the fortifications of Alessandria and Nbvara . The Lucca Gazette of the 27 th ult . contains the new law on the press , according to which everybody has a right to publish his opinions and discussthe acts of the government . All publications against religion , morality , and the rights of the sorereign , 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 tending directly to subvert public order and the' security of the state . A boarl 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 fire members and two substitutes . AH infractions of the new law are to be punished by a fine of from twentyfire 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 . The insurrection in Ca ' abria is reported as having gained strength ; and it was said General Nonriante had received two serious wounds in a conflict witb the insurgents . It is also reported that a corps of
artillery sent to Mangiana had joined the insurgents . The insurgents , under M . Antonio , Lengobucco , had seized on the town oi Cotrone , on the shores of the Gulf of Tarenturn . On the 24 th and succeeding evening , large assemblages of people took place in Naples en the Piazza Reale , the Largo della Caritta , and the Piazza Santa Crooe . Tri-colonred banners appeared , and cries of * Viva Pio IX ; , ' 'Italianindependence , ' and « The Constitution' were heard . After these had been dispersed , the town exhibited all the appearance of a place in a state of siege , the 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 .
EVACUATION OF PBBRAEABT THE AUSTRIAN TR 00 M . The * Univers' publishes a letter from Rome of the 28 th ult .. announcing the evacuation of Ferrara by the Austrians . Assuming that statement as correct , the correspondent of the 'Univers' observes' That event is equivalent for Austria and her allies to the loss of a pitched battle , and adds considerably to the glory already acquired by the Sovereign Pontiff . That peaceable victory guarantees' the independence of the powers , called in Europe feeble and secondary , against the encroachments and intervention of those called powerful and strong ; but what affects us Catholics most deeply , is that it ensures the emancipation of tbe Church and frees it from the guardianship and oppression of the great European Colossi . '
RUSSIA . The Frankfort Journal of the 29 th ult . announces that the Emperor of Russia quitted St Petersburg on the 14 th ult ., accompanied by her Royal Highness the Duchess of Leuchtenburg and his Aides-de-Camp , Generals Orloff and Adlerberg . His Majesty proposed to proceed to Moscow , and thence by Kiew to the southern provinces of the empire . Letters from St Petersburg !! of the 18 th ult ., state that-previous to bis departure from Moscow , tbe 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 noblesse 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 journey of the 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 , this amounted in 1844 to about 128 , 000 , 000 of 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 ; the contnbuu ' ons imposed upon the cultivation of grain 30 . 600 , 600 to 40 , 000 , 000 ; tbat imposed upon
commerce , 20 , 000 . 000 to 25 000 , 000 , The postomce returns in 1843 were 4 , 174 963 silver rubles , and the annual revenue may be calculated at about 15 , 000 , WO of francs . The patents yield from 3 , 000 , 000 to 4 , 000 , 000 , and timber the same . The mines belenging to the crown , and the duties imposed upon the washing fo gold in the mines belonging to private persons give 15 , 000 , 000 to 20 , 000 , 000 ; to these sources of public revenue must be added that ef the ground rents , the monopoly of tobacco and of playing cards , the tax upon salt , upon the crown manufactures ,
t Prime letters from St Petersburg of the 24 th of September , state that the cholera continued to advance , and nearly by the same route by which it arrived in 1831 . It had reached the environs of Toula ( distant forty miles from Moscow ) . It was believed ia Ss Petersburg tbat none of the persons who might be condemned tor the insurrection in Galicia would be executed , but the resolve of tbe Emperor to ex-
India And China. Letters From Bombay To ...
termhiatethe'Polish nation by- 'indireot means ! 'wa « fixed .
GREEPF ; Wehayereceived the Athens journals to the 20 th ult . Inclusively . The Momttur Srec contains the 5 ft £ J « pw ^ Vmm General Tzavellas , the Minister of War , President of the . Couneil , and or * T \ u « T ' the M » nister of Publio Instruction , to hold the portfolio of Foreign Affairs . The Momteut-also Publishes the decree ordering the civil and military functionaries to go into mourning for fivedays . for M Coletti . Tho opposition ' journal , the Coumer d Athenes , alluding to the appointment of General Tzavellas as president of the Council of Ministers , says it js very ffj [ jj ng ; to acknowledge the services rendered by him as a soldier during the war of independence , but considers him to be entirely unfit for the post to which he has been named , as he is so uneducated that he can scarcely write his own name . .
TURKEY . Letters from Constantinople announce the probable suppression of the insurrection in Albania Darbohor Reschid Pasha , the Commander-in-Chief of the Turkish army marched from Monaster on the 28 th of July . The following day he arrived at Oakhuda , where he remained until the 10 th ef August , collecting reinforcements . He reached Blbassamen the 13 th , and entered Berat on the I 6 th , after having defeated and discerned the in .
surgents under the command of Rappo . The latter , on hearing of the advance of the Turkish general , had . commanded that Youssef Bey and his two cousins , whom he had captured , should be decapitated . Thia act of unnecessary cruelty had created universal indignation amongst the Turks , and it was determined that Rappo should receive no quarter . Darbohor Reschid Patha , after the defeat of the insurgents at Berat , had entered Aulonia and marched on Areyrocastron , where an insurgent chief named Dlanleka , was encamped with 6 , 000 men .
Irish Democratic Confederation. The Conf...
IRISH DEMOCRATIC CONFEDERATION . The confederates met at Cartwright ' s on Sunday evening last , Mr Dwain in the chair , who read tbe address from Philadelphia to the electors of Nottingham . Mr Clancy addressed ' the meeting at great length , andxoncluded by moving the following resolution : — That as lovers of Universal Liberty we have readwith pleasure the address of the Democrats of Philadelphia to tbe Electors of Nottingham , and that we duly appreciate the same ; and furthermore , tbat Mr John Campbell is entitled to our warmeit thanks for his exertions , ' in
giving due expression to the feelings of American lym . p . tby in behalf of Ireland , and joy at the triumphant success of democracy at Nottingham , in the person of Feargns O'Connor , Eh ^ Mr Martin ably supported the . resolution , which was unanimously adopted . A vote of thanks was moved to Mr George Minton ,, for a gift of five Volumes of boohs , and two splendid mans of England and Ireland . An article was read from the ¦ Nation newspaper , and commented on by Messrs Clancy , Berer , M'Carthy ; Tucker , Price , fee . Chair taken every Sunday evening aft 8 o'clock .
The London Confederists. Tna Cobban Cobf...
THE LONDON CONFEDERISTS . Tna Cobban Cobfedebatb Club . —The usual weekly meeting ° f ^ flIS c ^ a 0 wa fle ^ on Sunday evening the 3 rd inst ., at the Charter Coffee-house , Strutton-ground , Westminster { Mr Richard Hussey was called to thechair . Mr McSweeney read an Anti-Irish article from the Bispatch of last week— ' Ireland's Opportunity . ' He said a more infamous and cold-blooded article he never read , but in fact it was in keeping with that paper ' s general conduct , it being the deadly opponent of justice to the working classes of England ., The chairman , in a brief speech , alluded to thecharges brought against them ; after which , Mr Kenealy , in a lengthened speech , explained the objects of the confederation , and impressed upon the meeting the necessity of leaving it to history to
tell of the merits and demerits of 0 Council . Mr Reynold * , in an energetic speech , reviewed the conduct of Mr O'Connell . 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 h ' m , on account of the opinions he entertained of that individual ; those parties now admitted he was right in that opinion . O'Connell wa-- a public man , and as sush he would deal with him . He had strictly watched his conduct from 1825 to 1848 , and he had always found him preaching that which he never intended to perform . He intended the Repeal agitation to bo a delusion , but the Irish people intended it to be a reality , and he
( Mr Reynolds ) was there that evening to assist them in carrying it out . Mr Reynolds was loudly cheered throughout his address . A committee hav . iigbeen named to carry out the proceedings of the o ' ub , the meeting then separated . Chelsea . —On Sunday evening a preliminary meeting of the Confederates of Chelsea , was held at the King ' s-arms , Upper Ebury-street , Pimlieo . Mr Francis Courtney in the chair . The meeting was respectably attended , and it was announced by the chairman that a more appropriate place would be obtained is the ensuing week , to hold their next meeting . Twenty persona having paid in their subscriptions , the meeting adjourned . Thb Davis Cirjn—The Confederates of this olub held their weekly meeting on Monday evening , the
4 th inst ., at 83 , Dean street . Mr Ganey in thechair . The report of the council in Dublin , and the correspondence of Mr Anstey with Lord John Russell , having been read , Mr Ftzgibbon 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 stuck for breeding , were taken every care of below at 3 s . per head , while 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 conversing with them for some time , they admitted the justice of the
principles of the Confederation ; and the only reason they j assigned for not 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 ef butter and bacon to feed the English people , when it was required at home . This was the wretched state of affairs in his unfortunate country . Mr Williams ( a member of the council of the Confederation in Dublin ) was here introduced to the meeting . He said he had travelled from Donegal to Kerry , and the desolating scenes 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 see tho empty shop of the bankrupt trader , and the wan and deathlike appearance of the people . In fact tho famine of 1846-7 had no parallel . The Whigs had effected their dearest wish , in decimating Ireland , so that
they might be enabled to turn over the soil of that country to the English capitalist . They were , by so doing , guilty of the foul crime of murder , and for such they ought to be arraigned . ( Cheers . ) He was glad to sav that the conduct of the British government had 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 by Messrs Kenealy , O'Mahoney , & c ., 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 .
West Loksoh Cbnibai Akii-Enclosubb Assoo...
West Loksoh Cbnibai Akii-Enclosubb Assooia * Tioh . —At the last weekly meeting of this association at tho Princess Royal , Circus-street , New-road , October 4 th , Mr Moore in the chair , a most stormy debate ensued as to whether the library should be 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 arnica ^ bly were at war amongst themselves , and came to the conclusion , that no conclusion could be come to satisfactory , at least to all parties , more especially when the secretary declared that the hooka being
given to the Anti-Enclosure Association could not be taken from the association to form another library . The dispute endfiig in five persons , who wore not members , forming themselves into a committee to start a library for the disinterested , which they have done , and for which party the Anti-Enclosurei Association has been deprived of its room of meeting at the Princess 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 , Marylebone , each Monday , at seven for eight , p . m .
Tbadr is Burnlkv .-A local paper says , it is currently reparted tbat short time is about to be commenced at nearly all the cotton mills in Burnley . One firm is said to have given the hands notice to stop altogether , and several others are about to run only three days in the week . But for the comparatively low price of provisions ,, the prospects of the uoor of this neighbourhood for the ensuing winter are gloomy and depressing . It is also rumoured that aoonsiderablejreductiori of wages is in contemplation . The children in the female ragged school at Edinburgh , have worked a very elegant bed coverlet for the Rev . T . Guthrie ,, the eloquent advocate of such institutions .
•The -Pre $Ent,State Of Great - Britain;...
• THE -PRE $ ENT , STATE OF GREAT - BRITAIN ; .. . . ¦ . ¦ ¦ - . '' . ¦' ,: CHAPTBR iH . Failure of the lank of England and its consequences ^^ J ? order of C 0 UncU «» ministry on tbe 26 th of February 1797 , forbid thebankof England to discharge its notes in gold or silver , and which has been since passed into a law , the whole paper currency of the nation has beehdeprivedof the only means of ascertaining , from time to time ; how far the emission of paper' has been increased , beyond what the business of , the nation acquired to ' circulate its transferable properly .
As long as thelaw existed , which obliged every bank ' and every individual to pay tbe 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 tbat the quantity of paper ih circulation did not exceed ihe quan * tity necessary to circulate its property , but from the 26 th of February . 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 trulj ; desperate step , and passed the Rubicon , to inflict oh his conntry'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 accomplished by a combination of the most active , uniform and powerful propensities 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 the issue of paper ( and I know of none that do not ) to increase it-adinfinu turn , for this . plain reason , that as he gets or saves five per cent , by every hundred pounds he can send into circulation on his own credit , the more he issues , the more he gains ; accordingly , we see that the bank of England ( tbe most respectable and the only one than has been obliged to publish the amount of its
notes ) which had issued but . 68 , 640 , 250 on the 26 th of February 1797 , had is . sued * £ 16 . 108 , 616 , on the 1 st of February 1803—Though seven and a half millions f addition to , the circulating medium , in so abort a lime , way j ? ot appear' in all its force to those wbo ^ do not distinguish between the vast disproportion which exists in every country , between the circulating medium , and the property circulated , yet when it iscoBsidered 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 trarisfering 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
circulated ; 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 ; hence the stock which used to be kept in . specie , is nowkept in these national bank notes ; though there is an essential difference between specie and bank note ; tbe 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 j ; hence a very small amount of bank of England notes will enable all the other bankers in Great Britain to circulate a great quantity of theirs .
At a time when banks were obliged to pay theit 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 tbat one pound notesjare issued , these fifty millions may be circulated by : a stock of five millions 5 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 millions .
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 fumisHfed ; every trader in Great Britain , from the highest to the lowest , issues his paper , and it is these private bills of exchange , with 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 , bow utterly every sort of data is wanting to form an idea of the amount of these different sorts of paper , which every different de * scription 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 redrawing , etc ., practices so difficult to be detected even when the ordeal of gold and silver existed , and now utterly impossible j when we consider what a vast amount of capital has been expended in nine 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 tbe 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 dispensation 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 .
. These dispositions are still farther increased by the vulgar error , but too generally adopted by those who should have known better , that the more national capital has been expended , and consequently the more distress , the more liberally bankers should augment the amount of their notes ; whereas the duty of banks should he tbe 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 circulated . The more of the national capital , that is . tiie more of the provisions , manufactures and materials for manufactures that have been expended , the Jess 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 was gone ; aud if gold and silver had continued to be the only legal circulating medium , aportion proportionate to the diminution of the national capital and income would have been withdrawn from the circulation ,
Having demonstrated that , by the law which substituted paper for gold and silver , there exists every inducement , and eveiy interest ^ with all descriptions of 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
the reach of human research ; the onus lies with tbe advocates for the inexhaustibility of British resources to set forth some plausible grounds for supposing 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
•The -Pre $Ent,State Of Great - Britain;...
" ^ W ^^^^^' -tirf ^ siJif ^ V Whtch thewrhas beenwpporledsince . the 26 . A of February , 1797 . But neither the ministers nor those ffho find it their interest to write for ministers can produce the semblance of any such proof , while reasoning from effects to their cause , it can be clearly proved that a ruinous excess has been already committed and must continue ; and 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 lately declared , that the bank directors were desirous to resume their payments 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 his 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 hia colleagues were driven to prolong the existence of their desperate system .
. ™?* - / he first fact which affords a direct proof of this depreciation is , that the Bank of England has increased the amount of its notes in circulation by seven millions and a half * , since 1797 ; and allowing that fifty millions have been circulated on a deposit of five million , of these natienal bank notes , there will have been added to the circulation since February , l / 97 , fiftr . two and a half millions in paper , unsupported by gold or silver . > Second . In the first four years of the war the minister found the ; greatest difficult y to borrow sixty * six millions only ; read the correspondence between him and the bank directors from January , 1795 , to February , 1797 f , and it is impossible to describe more forcibly the difficulties the minister experienced to procure these sixty-six millions , or the distress to which the
bank was driven to give bim apart of the aid he demanded ; nay , to such a height had the difficulties of the minister risen , in these four first years of the war , that toraise . the last loan in 1796 for eighty millions , he was obli ged to have recourse to a loyalty loan , and even this , aided by all that zeal and loyalty could effect , went on so heavily , that these zealous loyalists sought relief from parliament and received it . y et in the last five years of the war ( though the minister had experienced such diffi . cultiesm raising only sixty-six millions in the first four years ) he raised one hundred and fifty-sevenmillions , after the national bankruptcy , without ajy difficulty whatever , nor does it appear tbat those bank "directors , who made such strong remonstrances against the extravagance of the minister in the four
nrst years when they bad but eight millions and a naif of their notes in circulation , have ever remonstrated since , though they are augmented to sixteen miliums . } . . Third . The next effect from the same cause , is the nse of the funds : these were at fiftv-three in February 1797 , at the end of Wiefour fint years of the « w , and they rose to sixty . 8 even $ . at the end of the last four years since 1797 , before the peace had any effect on them , towards the end of a nine STJ ! hemo , ^ pensive ever recorded in the annals of the world .
Fourth . The great difference between the market w ^ *? . " tb , r , , P <» . or the difference between the price of old valued by its own sterling . intrinsic value , and valued by the depreciated currency of the Bank of England paper . While I am writing , government is issuing dollars at more than eleven per cent , above their value , and even at this rate it may be foreseen they will disappear like tbe rest . rc ~ Fifth The great and general rise which has taken place in the price of all sorts of commodities . Sixth . The total disappearance of * pecie . ||
Seventh . The extraordinary phenomenon of the taxes being more productive in proportion as they have been augmented , even to double the former amount ; and at the end of a war in which there has been such a vast expenditure of the national capital . Even this very year the minister has laid on an addition of taxes to the monstrous amount of £ 12 , 700 , 000 , and has had the simplicity or the ignorance to boast oftheir being productive , as if the facility he boasts of could be ascribed to any other cause , than paper depreciation . ^ Is there one of these effects , all happening since 1797 , which can be attributed to any other cause than the excess in the emission of paper , and tbe consequent depreciation ? The state of the bank of England affords a positive fact directly to the 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 , all moving round the 26 th of February , 1797 , as if that day was the centre upon which the fortune of Britain had turned , go directly to the great question of inexhaustibility ; and if no other cause can be assigned for this wonderful revolution in the finances , and I defy ministers id assign any other , I fear inexhatestibility must be jexpunged , and assignats and bankruptcy must be set in its place ; while the rise of the price of all sorts of commodities , especially gold
. * Since Writing The Above The State Of...
. * Since writing the above the state of the bank oi England notes in circulation has been published , by tvnicb it appears , tbat there wcro to the amount oi £ 17 , 982 , 930 in circulation on the 25 th November , 1803 , being an increase of near tuo millions since February last . The reader will carry this in his mind as he goes aloag , and apply it . —He will appreciate it in its direct effect , and what is still more In its indirect effect , f Now increased to nine and a half millions , t The notes of private bankers , and even tha notes of private Individuals , are now very frequently preferred to bank of England notes , § I do not give these as the exact sums , hut as np . proximatlons to the truth . I give them only to illustrate the indirect tffeet of these bank nates to increase the papW currency ; it is clear that from their own nature , the exact sums are not ascer tainable .
« Nine And A Half Millions New. T See Tb...
« Nine and a half millions new . t See tbe' Annual Register' of 1797 . % Now eighteen millions . § No doubt there will come a time when the funds will sink in ipite of the effects of the depreciation of paper to raise them . Wh « n the people of England can see their real situation , they will foroi a correspondent opinion . II When Mr Addington lately Inveighed so bitterly against hoarding , and of the want of public spirit in those who have the common sense to rescue their families from absolute want sit a crisis of such prodigality and ruin , he displayed a simplicity and ignorance truly
deicriptiveof the . sort of minister to whom the affairs of Great Britain have b . en committed at the most critical period of her existence . A friend of mine stopped by a high , wayman on Blacaheatb , gave him a guinea ' Sir , ' said the robber , « you are the fifth I have stoppafl this night , who have had but a guinea ; this hoarding won ' t do ; there never was so much business done in our way since tbe memory of man as at present . ' Strange that a prime minister and a highwayman should find tbe same Eolation of their difficulties in the same complaint ; for ao saya Mr Addington , 'This hoarding won't do ; there never was so much business done in the memory of maa in our way as at present . '
" $ From the importance which merchants attach to the stata of exchange , it may ee thought it should enter into this subject ; but considered ip a gensral point of view , it will be found a mere floating circumstance , of which the appearances ara too equivocal and uncertain to admit of its being ( he subject of general reasoning . , From tbe quantity of bar manufactures , and of East ; and West India prodnce with which Great Britain sup . plies all Europe , particularly in war time , when her- r maritime domination gives her a monopoly of foreign- i commodities , from a particular circumstance it may r happen that the nations of Europe might find some diffi- culty in paying Great Britain for her commodities , by y which exchange might ba turned considerably in her- r favour .
From 1780 to 1803 there have been hut three years a in which the produce of Great Britain has suf- fficed for her subsistence . Generally speaking , her ; r agriculture falls ao far short to supply her , tbat seven in years in eight sho is beholden to America and Europe- ) ofor her avhsistence , In the House ot Lords , oh tbe 23 rd rd July , 1800 , Lord Liverpool said , 'Yes , r ay lords , in one- nesingle year we have paid ii , 60 S , 000 for the grain ia . aported into England ; and it it a fact that Great Britain . in does not produce a sufficiency of grain for the suh « is *> is *> tence ef its inhabitants . ' T h * year before last , the mere : re bounties paid by government for the encouragement of of the importation ot cern , amounted to £ 1 , 633 , 587 ; bnt ant last year was a year of such extraordinary abundance , , oe ,
that no corn has been imported ; and this extraor-ordinary circumstance is the reason why exebange-ngeis so much in favour of Great Britain . If it had been > een > a year of ordinary harvest , in which she had to purchase lase several millions worth ef oora , the exchange wonld mid have been as much against her as it is now in her fa- favour . The diffisrenee between an extraordinary abon-ion-. dantyear , and one tbat i « not so , makes a difference ofe oil at least thirty millions' worth in the national pr < vproduce of Great Britain ; and If the coming year shouldould t not prove a like year of extraordinary abundance , the , th ©> minister will perceive how much he has been beholdenldeBt to this abundance , not only for the state of exchange , nge ,, but for the practicability of going on with his system , i .
The state of exchange is so fallacious a s tandard ofrd off national prosperity , that the very measure which may twiy ho » the effect of the deepest national distress may be tbe- > the-imeans , for a time , oi giving a most favourable tarn torn t » t the stata of exchange . For instance , the distress and- and-b stagnation of trade may oblige the English traders tors toi sell their goods at a considerable per centaffo undernderr prime cost ; yet this ruinons spendthrift commercMerce-J would , for a time , turn the exchange in favour ofor of . Eacland . Query , is it not to some such act that she ls , ie ls „ in part indebted for the present state of exchange ? So So * true is it that the most favourable state of exchange tage is 8 no criterion of national prosperity , that during the latOB latOJ year of pesce , when England respired after s nine yearsVears ' , ' war exchange was greatly against her ; and pow , that , thatt she is plunged info tbe most ruinous war , it is as muc & muchj in her favour . The intelligent reader cannot fall to ob-o observe how mnch the effect of this extraordinary abusdantsdantl harvest , in cheapening the first great necessary of lifepf life- ; and in creatine tbls favourable exchange , has ebecfccaecbeiK the march of depreciation , |
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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) ncse2.kdl.kcl.ac.uk/periodicals/ns/issues/ns2_09101847/page/7/
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