The Sun. — London, England, 1825-03-16 00:00:00

THE LONDON JOUItNALS. DAILY Extratisfrom the Morning Papers,Marchl6,lB2s. [MORNING CHRONICLE.] We thought that if there was any - one thing of which there could be no doubt, it was the mis government of the Cape of Good Hope and the abuses in Canada. With respect to the former, we believe there is not to be found in this island a. single individual who has either seen the Cape or has received any information respecting it, who is not ready to arraign the system of Go-; yernment in that Colony—Mr. Flume, year after year, has endeavoured to draw attention to this snbject : ; the English Press has teemed with abuses 'of the most aggravated description, and ‘‘ , litlisters have at length yielded a little to pub lic opinion. Mr. Hume has merited the thanks of.the country ; the thanks of every roan whose fortune is involved in the fate of the Co lonies. And yet to hear the language of Mr. Gordon, an Opposition Member, one would ima gine that Mr. Hume, in arraigning the Co lopial System, had entailed unspeakable mis chief on the country. Towards the authors of the system of the abuse it seems the ut most courtesy is due ; but towards Mr. Hume very little. Mr. V. Fitzgerald shewed that the HOnourable Gentleman CM r. Hume) was not it's tified in stating that abuses in the Colonial De partment had existed down to the present mo ment. For such a mistake no mercy ought to be shown; but abundance for all who have to do -xsith the abuses. But the country understand this matter, and what to think of Mr. Gordon's affirmation, " that it is no longer the practice, as formerly, to convert the Colonies into the means of providing for relations, or for other persons, (4 whom the people at home wished to get rid." This is a new era with a vengeance! [BRITISH PRESS.] The Spring Guns Bill went through a Com mitte of the House of Lords hat night, and wa, ordered to be reported to-day. On the motion of the Earl of Liverpool an Amendment was in troduced, prohibiting the use of spring guns and ste-el traps in all gardens and orchards.—[n the House of Commons some discussion arose on the subject of the projected Thames Quay. There was a rather singular diversity of opinion among the Members ; Mr. Calcraft, Mr. Hobliouse,Mr. Croker, and Mr. 'secretary Peel, formed a pha lanx in opposition to the introduction of the Bill ; and Colonel Trench, Lord Palmerston, Sir R. Wilson, and Mr. Baring, were ranged on the other side in its favour. On a division, a ma jority of 85 against 45 decided that the plan should at least have the benefit of further con sideration. `NEW TIMES] Last niht, in the 'House of Commons, Colonel Trench brought up the Report of the 'l'harnes Quay, and moved for leave to bring in a Bill founded on the opinion expressed in the Report ; upon which a discussion of some length ensued. Mr. Croker strongly opposed the measure, and stated some interesting facts respecting the depth of water in the River; that the fall at present at London Bridge might be calculated at five feet, but that it could not yet be ascertained what effect would be produced when the Bridge now building should be finished, and the old London Bridge removed, and therefore he recommended the postponement of the undertaking. Mr. Peel, and other Weathers, took the same view of the ques tion, and opposed the Bill, which was ,•armly supported on the other hand by Lord Palmer stun, Mr. Baring, and others ; when, on a divi- Sion, there appeared in favour of the measure, 85 ; against it, 43—majority in its favour, 40. — Thus granting leave to introduce the Bill. [MORNING rosy:] We really do commiserate most sincerely the mass of the poor, confiding, deluded Irish Ito man Catholics.—How many years, and by how Many temporal and eternal hopes and fears have their Leaders conjured them, never to consent on any terms, or for any consideration, that a single one o f the Popish Clergy should ever receive a farthing of stipend from the British Legislature Grave persons in this country have frequently at tempted to ridicule the cry of " the Church in danger," when measures have been proposed in Parliament to emancipate the Catholics ; but that cry never rose above a murmur, compz red with the tempests of wrath and indignation with which the very mention of bestowing a portion of the public bounty on the Irish Priesthood has always hitherto been re colvpd by the whole strength of the Romish faction in Ireland. But this is the age of miracles, and " his very Serene and Reverend Highness of . 11ohenlohe " really seems to have performed wonders within the last little month upon " the Deputation " of Catholic Leaders. Either through f4is instrumentality, or the force of " Grand Dinners from Mr. Cobbett and others, together with a slight and novel intermixture among ra tional society in London, verily this entire troop of rent-eaters have been marvellously wrought upon of late. Does Mr. O'Connell now see any peril to his religion from the payment of the Popish Priests out of the British Treasury ? Quite otherwise. Ile approves of such a proceeding, and in doings° echoes the very sentiments we have so often stated as to the beggarly mode in which the Romish Clergy of Ireland at present obtain their emoluments. 'Fine proposed stipend,says will merely enable our superlative (we forget the par ticular epithet) Priesthood to extend their cha rities, instead of being themselves, as they now are, almost dependent on Charity. If this lesson do not teach the Irish, they ought not to he taught. The opinion, however, as recorded, is - wotth its weight in gold, and we congratulate ourselves exceedingly on -having such an autho- rity as the great leader of the Catholics come roUrid at last to support our side of the question tiOhtst himself and the defunct Association. May w* . itot from these premises flatter ourselves that a little 'nlbre reflection wilk likewise con"- •-rvilice 'Mr. O'Connell Vint Maynooth College would be much better (balling , on. such a, subject is natural) in England than where it stands at present. In short, after he joins us in think ing that the Romish Clergy ought to receive their salaries out of the Exchequer, we must despair of nothing—for when once reason and loyalty find entrance into a man's head or habits, there is no saying where the tide may stop. But upon the subject of paying the Popish Clergy, we must be permitted to observe, that we hope the good offices of the Legislature regarding that Body will not end there. The establishment of Nunneries, Convents, Monasteries, and other Ecclesiastical fortresses, is now going on with rapid strides in Ireland, and the bequests made for those purposes by superstitious old women► (there is no distinction of gender appli cable), who in their last moments are at the mercy of a set of wily Priests, threaten to place, eme long, a vast amount of property at the disposal of that Holy Caste. Can any points be more worthy of Parliamentary attention ? Private mad-houses is this country are under the surveil lance of public inspectors, and the affinity be tween those receptacles and convents is so close, as to warrant something of a like security for the rights of individuals. We suppose, however, we must trust to time for regulations of this salutary tendency—they are nevertheless indispensable, and should not be lost sight of. [MORNING 11E11.1T.D.11 In the ComtTions, last night, several of the new Companies and scln again occupied the house.'. On some petitions being presented against the " Metropolitan Fish Company," Mr. Calcraft corrected what he had formerly said about 1 " blowing one of the Fish Companies out to sea." He had made some error as to the Company ; the one against which he had spoken said nothing about the Dutch fisheries ; but he added, he was still altogether against these Fish Companies. He declared that they would make fish dear ; an opinion in which he was supported by Mr. Al derman Wood, the latter asking, how it could be otherwise when one individual would be arm ed with thousands of pounds to go into the market and buy up all the fish ? Sir J. Yorke opposed the Bill as calculated to interfere, by powerful combinations, with the occupations of sundry fishermen all round our coasts—occupa tions, he said, that were at once " honourable and ancient, as the Apostles could testify." This remark occasioned an amazing deal of merriment in the house. Mr. J. Smith was favourable to the Company, thinking that it would operate to produce a reduction of prices. Colonel Trench's plan for making quays along a portion of one bank of the Thames, was opposed by Mr. Croker, who contended that leave ought not to be granted for the introduction of the Bill. To resist it in Committee would be most expensive. He gave as another reason for resisting the measure thus early, that an important experiment was now about to be tried on the River Thames—namely, the removal of the old, andl the erection of a new London-bridge ; that many engineers had given it as their opinion, that the effect of removing the old Bridge would affect the fall of the tide as much as five feet ; that the con sequences of such removal it was impossible to foresee ; and that he was therefore against any other schemes being tried now, that might in any way affect the current of the River, till they knew what would be the results of removing old Lon don-bridge, and replacing it by a new one. The postponement of Colonel 'French's plan could do no harm. Mr. Secretary Peel was also against the Bill ; but Lord Palmerston supported Co lonel Trench, and thought it was a most extraordinary proceeding to resist the bring ing in of the Bill, the parties having, as was acknowledg,rd, complied with all the forms of the House. To exclude them in such stage of the business would be contrary to the usual practice of the House. As to waiting for the re moval of one and the building of another bridge, his Lordship contended that it was not necessary, for the proposed Quays on those banks which Col. Trench had called a " disgrace" to the Me-, tropolis, would not interfere widi the current of the river. The motion for bringing in the Bill was afterwards carried, on a division, by a majo rity of 40—the Ayes being 85, and the Noes 45. The Gallery 'was crowded, during the early part of the evening, by persons interested in these measures, and that of the " Pasco Peruvian Minit:g Company." Sir G. Hill moved for leave to bring in a Bill to limit some of the restrictions on the establishment of Country Banks in Ireland. At present, what may be termed the Irish National Bank, Mr. Dawson (the under Secretary) represented as enjoying exclusive privileges; and he added that such Bank ❑ever came forward to render pecuniary accommodation to the public, even after the enormous failures in the South of Ireland. Mr. S. Rice observed that the measure would be of the greatest use, not only in introducing English capital, but in forwarding to the provincial parts of Ireland the English system of banking, and the English precision of transacting business. LTUE PUBLIC LEDGER.] If a statement, given in a Paris Paper of Sun day, prove correct, we may venture to say, that in the foreign policy of France there is nothing that ought to excite the distrust of this country, or give uneasiness to any other. On the con trary, it might in this case be affirmed with great propriety, that the views of that Power were just, temperate, and conciliatory. In the paragraph to which we allude, it Kexpressly stated that the French troops will be wholly withdrawn from Spain in the course of the next month ; and as it appears in a Ministerial Paper, its accuracy, we think, can tut be disputed. Besides the intrinsic import 'Bice of such a measure, which would be of the highest order in more than one point of view, it would have an adventitious value, by skewing that the very best understanding subsists at this time between the French and our own Govern ment. No one could doubt but that so great a concession to just principles, was made with the express view of cc n ►ciliating the British Ca binet; who could not see, without dissatisfaction, Spain, tAough nominally free, reduced virtually to the form of a French province. Whether our Goverment has remonstrated, or nOt, against the occupation of that country} beyond the period which is said to be fixed for the eva cuation, we are not competent, of course, to de cide. But as the presence of a French army, besides other objections, contributed to molest our afly, the King of Portugal, and subjected him to the necessity of using precautionary measures, it strikes us as highly probable that it was in con sequence of British application, that this impor tant resolution has been adopted. The announce ment is too vague, as yet, to enable us to judge whether the evacuation will be complete, or merely partial ; though, from the wording of the paragraph, we are disposed to draw the former inference. Thus Cadiz would not form an ex ception ; and the Spanish Government would be left to its own resources, to maintain its authority, and provide for its interests at home and abroad. [THE TIMES.] 'There is a great deal of originality in the Irish character—much naivete in the proceedings of that people, in whatever situation they may be placed, or whatever may be the part they have to act ! They have sent us over a Deputation to manage the concerns of the country on a pressing emergency, and to pave the way generally for what is called Emancipation. But no sooner is the Deputation arrived, and favoured with a prospect of limited success, than the members begin to quarrel with each other : one saying, " we may " be content with so much, and so much ; " and another, Mr. Lawless, according to the Irish mode of ratiocination, asserting that he will have ALL first, and then take part afterwards. Oh, Mr. Lawless, Mr. Lawless, those who made you a member of the De putation were deeply desirous that no compro mise, agreement, or adjustment of Irish affairs, should take place ; and, us there is no very ac commodating spirit in the majority on this side the water, they may, perhaps, succeed in frustrating conciliation with Ireland. Yet is Mr. Lawless's employment but a hacknied one in its nature; for nothing has been more common in all ages titan for treacherous and aggrandizing Governments to send out a deputation to their neighbours with proposi tions of peace, but containing one member with se cret direction to spoil the agreement. This,in some instances, is called putting a spoke in the wheel— in others, curdling the milk-porridge. Mr. Law less is placed as the spoke in the wheel—a wheel but too likely to move slowly without any such obstruction ; he is the runnet that curdles the milk.porridge. Would he were turning a butter-churn in his native country ! Mr. Lawless, in a letter against the proposed Bill! of Emancipation, " calls the attention of the " people of England us well as Ireland to the " wings (! !), as they are facetiously termed, ' " of this new bird (O'Connell, we suppose) frorn " the cage of Mr. Plunkett." This is a very odd metaphor. It must come from Lawless's own brain ; and then praising, his own wit, he calls it " facetious." • There are some other specimens of his ingenuity in the letter before us, on which it would be needless to remark. Lawless seems to know more of the contemplated Bill for email cipation than its framers. He would have acted with greater candour if he had waited for the introducti o n of the Bill into Parliament ; an d then, if such had been his engagement, he m i g ht have abused i t w i t h more effect. And it is, in truth, even in the present instance, all unpro voked and direct charge by Lawless against the Catholics, that a !Board, constituted of the members of that religion (which he supposes will make a part of the Emancipation Bill), must be a profligate Board—" a source of " perpetual intrigue, a species of ecclesias " tical inquisition." On the subject of rais ing the elective franchise in Ireland, we shall not speak at present—we shall rather wait, as Mr. Lawless ought to have done, till we see what is intended. But as he says that " he • for one'' (and a bright one he is), shall not be content with this or that species of Emancipation, we can tell him that Parliaments legislate for the general good, and not to please individuals. Were both bodies of the Legislature in the disposition to grant emancipation, which we hope, though not sanguinely, may be the case—the Catholics, as a body, will be too wise not to accept what is conceded, with feelings pro portioned to the magnitude of the boon. But we must point attention to the frantic absurdity of the following conduct in some of their body : They demand full emancipation, as they call it ; they say it is their right : but at the very moment while they are demanding this full emancipation, they say to those of whom they are demanding it N o ; we see you will only grant us so much, " therefore we will hav e nothin'e." COURSE OF EXCHANGE, March 15. Ainstei (lam Ditto, at Sight Rotterdam Antwerp l2 3 10 4f Us. Altotia Paris,3 Day's sielt Dil to Sow &aux, ditto Berlin 7 5 Frank fort on the Nlain Peteislnirgli ............................. . 9 0 Vienna......... 10 0 Trieste.. ................................ 10 0 Madrid ................... - - .361 Effect ivo Cadiz ....................... ........... kffective (Whoa .................................. 314 Ellective Barcelona .............. • ........... 35 ieville .............. 16 Gibtaltai .................... ...................... 31 Leghorn ......................... 49 (;et ~ a .......... IS-Venice, Ital. Liv. 27 Malta .......... -Naples 4O Palermo) Lisbon . ............... Oporto !tin Janeiro Bahia . 50 .... 9}....... . pri Cent. BULLION t i ortit4al Gnld , iu Coin Foreign (;ittd, iu Bros New I)oithloorii New Dollar.; Silver Standard in flats. L.O 0 ol'et (1z 3 17 9 3 17 G . 0 4 11 ..„ 0 0 0 DEATII wife of a respectable individual, residing., a t Habergham , in BY PASSION.—Mrs. Ann Roberts, the Lincolnshi re , di ed a few days tt;„ , from t he effects of, a violent P"sion into which she hadihroivn herself in consequence of some contradiction on the part of her husband. MR, JESSOP'S REPORT (Addressed to the COMMITTEE of INQUIRY), upon the most desirable MODE of improving the COMMUNICA TION between NEWCASTLE and CARLISLE. NEWCASTLE-UPON-TYNE, MARCH 12. The subjoined Report, which confirms in the strongest manner the plans of Mr. AVILLIAAt CHAPMAN, it is supposed will forthwith be crea tive of great activity among those individuals who have interested themselves to facilitate the in tercourse between Newcastle-upon-Tyne and Carlisle. Indeed, it is highly desirable that the utmost energy be now displayed in every thing connected with a scheme so pregnant with ad vantage both to the counties of Northumberland and Cumberland. GENTLEMEN—I have examined the country between New castle and Carlisle, following the general direction of the val. lies of the South Tyne, Tipple, Irthing, and Eden, for the purpose of ascertaining whether a Canal or a Railway is the best medium of internal communication between the above named places. If it were a simple unconnected question, which mode of comunication is preferable for general purposes, that is, to convey articles of trade and commerce of every descrip. tion from one point to another, I could have little hesitation in saying that a Railway is the best, as it not only requires less capital to complete it, but also will convey merchandise more cheaply and expeditiously, and with equal safety ; but, sup posing it to form only part of a communication between the German Ocean and the Irish Sea, the Tyne having to be na vigated at the east end, and the Carlisle Canal at the west, other reasons will influence the decision of the question, of which this is the principal one,—Whether a Canal will occasion such an increase of trade beyond what would be conveyed by a Railway, added to the advantage of avoiding twice changing the carriage, as will compensate for the excess of capital and the additional expence of conveyance ? From all that I can learn of the nature of the trade, I am of opinion that it cannot ; so far from it, I am disposed to think that not only as much, but more will pass by a Railway than by a Canal, as the facility af forded by a Railway of making branches from either side, will not only extend the present sources, but will also induce indivi duals to open collieries, mines, and quarries, from which they can send the produce at once to its destination without the in convenience of removal, and more cheaply, as they will not have to defray the interest of capital which would be vested in vessels, wharfs, &c. and which would probably prevent a distant trade in articles of low value, that would only have its origin in the facility of making a connexion with so simple and cheap a mode of conveyance as a Railway. I have not a doubt for the fore going reasons, that a Railway joined to the Carlisle Canal would benefit the trade of the latter in a greater degree, than the same line of connexion with Newcastle would, if made by a Canal. I have of course read Mr. Chapman's Report and Estimate, and I think he has, in both instances, under-rated what I con ceive would be the expence of a Canal or a Railway. It is ne cessary that I should state wherein 1 disagree with him, and in justification of myself, the probable causes of this difference, considering him, as I do, to stand at the head of his profession ; besides having taken the levels, he has advantages, from his local knowledge, which I do not possess. In the. first article of his estimate fora Railway, I think he is too low ; this may be partly occasioned by the great advance in ' the price of iron, and partly because I consider it desirable to go to a greater expence in the foundation of the road, than appears to be the practice in the neighbourhood of Newcastle, where not sufficient attention seems to be paid to it: as of several Railways that I have examined, the only one which I consider well laid, is that belonging to the Fawdon Colliery, of which the construction is highly creditable to the skill and ingenuity of the contriver. In saying this, 1 do not mean to recommend the system as being generally preferable to that adopted at the Hetton and other Collieries, but that the road is much better laid, and maintained in a more perfect state than any others I have seen. I have generally used from eight inches to a foot of broken stone, gravel, or engine ashes, according to circum stances, upon the base of the road, to form a firm foundation for the blocks. The increase this would occasion to the Esti mate, added to the advance on iron, I compute to be between MO/. and 700/. per mile, making altogether about 40,0001. Mr. Chapman states in his Report, that the opinion he had of the impracticability of making a Ship Canal, from the nume rous objections, and the opposition there was to it on the part of the great land-owners, added to want of time, occasioned him to make his Estimate with less care than he would have thought necessary were it likely to be carried into effect, and that he over-rated the masonry of the locks, so that he would probably agree with me in estimating theist at 2,5001. each, making an abatement of 58,500/.; but he has entirely omitted a most material item, which, though evident to any one while looking over the ground, might have escaped his recollection after the lapse of years since he made his survey : this is, lining the many miles of Canal which would have to be cut through grit stone, sandstone, grav e l, an d o th er su b s t a nces which will not hold water, and which, after the greatest care in puddling,would make it doubtful whether any supply of water could be found for so great a source of waste ; for in forming a deep Canal, which, with its bottom puddle, dry bank for towing path, and nine feet of water, will be together four yards of depth, the cutting al most of necessity gets through the covering of earth into strata of rock, or sand, requiring to be puddled, of which there is a great extent on the summit, and on both sides of it, I think if I say that half of the whole length is of this description, I shall not exceed ; in which case this half, without any extra ordinary cutting, will cost more than Mr. Chapman has allow ed for the whole, which is 259,4801., including towing paths and fences. I have not a doubt that this omi s s ion was acci dental, and occasioned by the haste in which h is estimate wa s made ; but the whole expence will be incr eased b y it to a much greater amount than is saved by. the over-calculation in the masonry of the locks. The remainder of t h e estim ate I ' suppose to be correct, and in this case I p refer his o p inio n to any calculation of my own, as he has had opportunities of knowing the extent and value of the w orks re q uired better than n I 1 can d h t a h v e e country ,or an with yone Although I had Mr. Chapman's plans and . sections, and the line where the level passed was in various places ' me, which was of great use to wards forming a g eneral opinion, w e l q i o n a h l a n s tt not attention. ti t n a n k7 the levels, and exa ces pointed out to ' it is impossible to say which is the line to and be preferi•ed, except each. I - ad vantages and Bells of think, as a general should be kept to as . l low a level as by taking the levels of sey v n er b a o l t l h in s e id s, esof ti c l o e n v ip a a l r e l y ng ma th y e with principle, that, the Railway possible, that the country on branches. bridge over any of the rivers is not a very for facility be united to it by rivers i s I think it likely mi A da l b t l a e undertaking,y and them more frequently than has hitherto been proposed, the Railway may be shortened without any increase of expence. In the greater part of the line there . is such room for variation, a tl n i n at th i w t a m td a v y that I apprehend it inay pass . most of the gentlemen's seats without annoyance or inconvenience to the proprietors, and the levels are generally favourable on both sides of the valley ; al. though difficulties occasionally occur about the summit, which directionb e bette r behind i r n i d s e toa will add to the expence, but without any other inconveniences to the Railway. n a a t i m i' more t es Ha worth Castle, and begin to descend near Milltown. His pre ference to this line is evidently occasioned by the advantage to he derived from making a branch from the summit level to ljllswater and I'enrith. It is probable that his • • is • h opinion right, as an extensive trade in slates from the summit (of which I do not entertain a doubt) will save a considerable ' hither ' r-C level, i k a e n ep i expenditure of steam power, by giving a prepond erancy • to the weight of car riage downwards both to east and west, otherwise I should have thought that it would be better to descend to the valley near Denton, north of the Irthing pass near to Lanercost Abbey, and from thence in the shortest course the low lands to over _ Carlisle, connecting Bramptca to the mai n lin e by a branch. The whole distance from Denton to Carlisle is nearly a flat valley, except at Redholme, wher e t h e Irthing - forms a penin sula, that may be cut th roug h , or the river may be crossed and recrossed. The preferable line must of co depend on the levels and which local circumstances, _ will arse develope themselves when an • actual survey is made. The lower line will probably be much 1 the shortest ; hut it will lengthen the Pith branch, as the i enr , trade to the eastward in sl ue ' l, or whatever may come down that branch, ought to cu tumunicate the wit h s ummit at Den. ' tort, for Oleic can scarcely lie:a doubt tf:at this trade Mat k very extensive, as the Railway will make Newcastle the cheapest' and most direct line to Londan for slates, lead, &e.. It will then be a question whether the whole trade between t;ie extTe` mities. and along the line, shall be carried round by the hia - l;c• - lev,t, supposing- it to be the more circuitous course, , r the Peori•li trade to the westward, which will be :)it s, , ti t , l porzion of the whole, shall take a More lengthened course et several miles round by Denton. This might certain; be ob viated, were the amount of the trtd, between Penrith lisle of sufficient importance, by having a set of inclined pl: , to pass by Talken Tarn, 2.nd join at: Brampton branch, which places would Lot require steam pow?r, as the trade would be nearly altogether downward, and a siegle road, with occasional turn out places, would be sufficient ; but this will be a subject for inquiry hereafter. I have perhaps entered more into_particulars than is neces sary, as these speculations may not stand thetest of examina' tion by the spirit level. I will therefore give the sum of my opinions in few words, which is, that a Railway in such a si tuation is greatly to be preferred to a Canal, as it will be the means of creating a more extended local trade, from the faci lity it affords of branching in all dir e ctions, and all elevations , which advantage a Canal cannot have. The cost will only he" about one-third of that of a Canal of the dimensions proposed; it will supply a greater trade to the shipping at each end of the line ; it will be of material advantage to the adjoining estates, and will not cause a separation of property; and I have not a doubt that the local trade alone will pay a good rate of interest for the capital to be invested. I have the honour to be, Gentlemen, Your most obedient servant. Butterley Hall, March 4, 1825. JOSI AS JESSOP- TO THE EDITOR. " J'appelle un chat un chat, et Rolet un fripon."—Boileau- SiSlit-I asserted in my last letter, that during the continuance of the restriction, it cost the people of this country about forty millions, and as proceeding alone from the' transactions between the Bank of England and the Govern- , ment. It has since been hinted to me, that this suns is large beyond all bounds of credibility; and as I do not like to be thought a dealer in mere assertions, I shall now proceed to esta" blish what I have said. The average of the advances made by the Bank to the GO - -; venment, from 1797 to 1819, w a s 17,796,0351. ( Vid e R eport of the Lords' Committee, p. 319.) This, at 5 per cent. (as the rate of interest then stood), amounts to an annual sum of 8119,8021. ; and at compound in terest, during 23 years, to 36,864,920/. I say at compound in terest, because it is evident that in this particular case, in which we arc called upon to estimate what the Bank has gained and the public lost, the basis of our calculation must be compound interest; and this for two reasons. First, because the proprietors of Bank stock having, in con sequence of the transactions between the Bank and the Govern ment, received a great and unexpected addition to their'annual incomes, all the excess beyond what that income would have cas : dijorevytte l ie p ionasiwnkt a ßi l .fosstri e l t oaloii,:pieni / n, l ichia ' e, : r 9t,sisat,t,, been, if things had remained in their natural state, might have ttcwaih: weee m ataooy p vp o otteti h i abis n afiaaerlevlentteye d rdvottaedteki meurslmoio i osrupei n routonesieahusf t pgnents.at e r;:ntugo:e r tpilepisy e rfeaariBottet apspehnachsttrdorimteodieecnisisniocoondeoiirtteeanlntitihefdo.lnhntildsio:ishrioceipittuibBfureenprennrt ycippele,:kse d gettroptotrsi i i,eoofir: s nteorat icalt c rrieedn. iininli h ttsa:heiiipidcihn a n. tcte,nee,, r eogaigteirt( g ciorbkireni been, and probably was, regularly employed by them in the purchase of Government securities ; and, consequently, their excess of gain, during the period of the restriction, either did, or might have accumulated at compound interest ; and Secondly, the sinking fund established by Mr. Pitt being, throughout the whole period of the restriction, in full operation , the sum of 8119,8021., which was annually levied by taxes on the people, to be distributed amonget the proprietors of BanY stock, might again, if the currency had been left in its natural state, have heen paid to this sinking fund, to accumulate et That the debt of this country will never be discharged hi w x iiiis s e raollicei,,t;iunolcu s o ercsialufgt e rnavexri f lt:cn l srnh3dioa r d :::ll: - "fintl e aj e otil.aere i nnisuc i , irp ) eirnelyr t g i aklnalt . 7 d nsi,evh m,fstf e sitb):. etu.)lt n fbter otanei t :nul tktoeld:e ::,,,altrtvl,?iatlhtliiiff:a:t3nor.neehln,rau,gfdoBeriaittßs), Government osaorpae Bt a ehdruncei Bank eor t B dnvgn i e n dndlhd t ac s l,fewyael t ol s s 0 would leave a loss of 2,425,000. A very pretty speculation And this is to deal in gold with a vengeance. The sum of 36,864,920/. having, therefore been paid to the proprietors of Bank Stock for the use of their trumpery ware , and 2.425,0001. being lost by borrowing in bad money and PaY. ing the debt in good, this, 39,289,920/., and so my position is established ; and then I say' nothing of the profligately wasteful expenditure to which a mere paper currency must naturally give ri e or of the doubt and together, constitutes a. cunt or uncertainty which a perpetually threw over the property . and transaction s of every man in the kingdom. This was, indeed, a precious state of things : one man worked, and another (without the exercise of any one sinO e power, either bodily or mental) received the wagcl l a nyu. and the quack doctor marched off in triumph with the fee °' the regular physician. Quod capis alter habet. the And yet, precisely as if all this was foreign to us, and that varying, standard necessarily fact of Bank restriction, with all its circumstances and conse" quences, was only to he found in the annals of China or BabS lon-1 say just as if all this did not concern us in the least, ‘Ve still go on the same way, and the Government jobs with the Bank, and the Bank jobs with individuals. And then, as have already stated, every such jobbing transaction must per se constitute an excess of currency : for as before the transaction takes place a certain quantity of money exists, and that the Bank is open for the discount of bills founded on real transace dons in commodities, and that the Mint is also open to the coinage of gold bullion for the public—(and that therefore every man who has a real value to give for money may always has 2 it, and that consequently, and as compared with commodities' there can never be a real scarcity of money), so after th e. trans - , action has taken place do the sam e f ac iliti es s till s ub s ist; att therefore, if to all the money which is (or can he) fairly cane", into action by commoditi es we su p era dd anot h er quant ity 0 money which has no original connexion with commodities, but is founded on a mere fiction; it is of plain and undeniable con sequence that there must be an excess. And then, with pre" cisely the same mass of wealth as before, there does ensue most irregular and vicious distribution ; the money prices ° ,,i ` commodities rise ; all debtors gain, and all creditor-4 lovl . ; an to its injuri ous e ffe cts on our f ore i gn commerce I have alread y alluded ; hut amid the general confusion, and, lose who mo' 9 it fares well with the dealers in paper. Our system inverts the order and turns aside the natural ben t of things. We exult (and probably with reason) in our great wealth ; but in all rich countries, says Adam Smith, the pre cious metals are dear—that is, when compared with other productions, they have a great value in exchange. Not though this author is often wrong (anti must therefore be reaq with caution), yet we owe him much, and I am quite sure tha t he is right her e ; for to be ri c h i s t o h ave more tha n i s needfu l ' and to be greatly rich is to have much more than is needful . As great wealth, therefore, implies a great s u rplus, and as where much exists to be given in exchange for. the precious metals, much will he given in exchange for them, so will it turally follow that in all rich countries the precious metals Wl' be dear. Again, take a people that are distinctly arid positivel, poor, and give them gold or silver you may ; but to sell it, get any thing in exchange for it, is impossible; because, poor, they have no surplus ; and therefore it is clear to con I ,c. tion, that precisely in the degree that a country is rich will al: , precious metals be dear. But with us they are cheap, and thc r ! fore, either we are not rich (an impossible supposition), or el s e' our system of currency tends to divert things from their nat u e ral course, and by making that cheap which would otherwis e be dear, to introduce great uncertainty and confusion. te concludeori original whatn::l iinventor v o l shall l e , a s s a c y h t e o m t e h o e f Heaven" gix restriction)b()A Minister,"d am i gone to -1J t y rt (: which the public was taxed for the benefit 01 . , of nip n I d a i e v e i u a n a l a s ?I wilth innogt reflect o m n h n s i s m d e e l a n d 0 , tario censetur pro voluntario—but I will not : and not only if they list, apply the rule—lnvoltintariunt or r tan i e je a t ' ° :° llle # r i o : I acquit him of all bad intentions towards the public, but I ': most clearly absolve him from all knowledge ,whatever. Of t he .. principle of his own system—of the manner in which it oPerat, ed during its progress, or of the consequences to which it Of t, lead eventually. In short, I blame nobody : the thing is Pe,. and without remedy, and all censure is unavailing—extra tunant est quicquid donator • and I simply regret that all t_i c i g money which has been wasted on the proprietors of Bank aw had not been given to the poor. DANIEL HARDCASTL/;•_, I. On Saturday, th e 12th inst., at TII Thoresby.park, Notts, the Countess of Manvers, of a son. DIED On the 14th inst., at Il o m er t o n, Colin, aged 13 years, 5 4313 of Mr. Robett Douglas, of Church-row, Fenchurch-street. On Monday, at Dover, suddenly, whilst at tea, 11.1 Nathan, many years the Rabbi of the Jewish congregatio n that place, aged nearly 90 years. Printed and Published for the PROPRIETORS, at.the Stl" OFFICE, No. 112, Strand, by J, B. CARSTAOS•