The British Press; or, Morning Literary Advertiser.
London, England, 1824-04-23 00:00:00

TO THE EDITOR OF THE BRITISH PRESS.

Sit—(laving seen a letter in your paper, signed " No Pawn-
broker," allow me to say, I fully agree with the author, as to the
necessity of investigating the due merits of any public measure be-
fore its operation is brought into public notice. As far as that gen-
tleman's observations go they are very appropriate ; but lam of
opinion much might have been said against the principle of the
measure. It appesrs to me that the very principle upon which the
" Equitable Loan Corporation " is Raided, la a dangerous
tendency in this mercantile country : how are we to be awed that
the legal incorporation of this Society (and its mesas appears very
doubtful), is not to be the stepping-stone to a general monopoly?
May we not anticipate the members of the Stock Exchange will
become the only wholesale traders in the metropolis? And is it
" equity," or even policy, to allow 40,000 individuals, without any.
responsibility, to attack and annihilate one single branch of trade e
I care not whether those persons be pawnbrokers, hankers, brewer,.
butchers, bakers, or any other calling ; it is the principle 1 contend
against, which, if adopted in this instance, will be equally justified
and equally dangerous, if applied to any other branch of trade.
By way of illustration, we all know the business of the boot and
shoe makers, at this period very lucrative, and by a corporation
like the " Equitable," the public might be benefited; the facility
and security of conducting the business will secure more beneficial
results than the one in question, it being much less intricate, and
subject to fewer casualties. The directors will have only to
purchase leather at the wholesale market, and the work being
uniformly done by the piece, and at stated prices, its opeestion will
be vary simple. Thus, under the title of the " Economic Equi-
table Shoe and root Company,' a corporation may be formed that
might make the poor to be better shod, and the opulent supplied
upon better terms; and so with the butchers, bakers, drapes.,
mercers, cam mad as alter. Now upon general principle,withoutregard
rttizrz particular trade, I do maintain the system is bad, as it
regatta
„ the public, and ruinous, as it respects. private individuals.
The title by which it is ushered into public notice is at variance with
theprofested objects; its sponsors have been very unfortunate, or I
have been equally so, in ignorance of my mother tongue. " Eouit-
able" I take to be a virtue emanating from impartial justice, and
in the mind of the person professing its practice, a conscientious
discharge of his duties to his Cod and to has neighbour. Is it no-
thing, or, I would may, is it " equitable," by OM sweeping enact-
ment, to annihilate from society any mu branch of tradesmen, whose
whole time has been devoted, whose property has been invested,
and whose families depend upon them for support in the business
they are conducting? Who are the real contributors to the state
What forms the sinews of a country ? Do t!.: former consist only
of kin contractors and does the persevering tradesman, the arti-
san, and the mechanic, form no part of the latter ? Do they not.
by their establishments and their expenditures, contribute largely
towards our present prosperity ? and can that intended corporation
promise half the benefits commensurate with ..he evU such • pre-
cedent is fraught with ; for when once began, who is to foresee
where it may end ? It cannot be imagined the Legislature will
lend themselves to such an Utopia scheme? Th 'beral and en-
lightened policy of the M embersof our Executive Go ment, who
are now directing thtir whole powers against monopolies, will not,
cannot, give their countenance to a measure that so manifestly mili-
tates against their present views. They wiU doubtless refer to past
disastrous experience ; and, i, limiter, put a step to an application
that may become a precedent to other schemes,, equally seductive,
equally visionary, and, in its remits, equally ruinous.
This important question &mends the most atoms consideration
of every tradesman, and they would do wisely to coins forward in
one united body to petition Parliament upon the abject of the bill.
It was my intention to have gone into areriew of the hnpracticability
of the measure, and also to thew that the philanthrope views of its
first projecow may be accomplished without going to Parliament;
but probably you will allow me to do that in another address. I
cannot, however, close this without introducing the Miles of one of
our Poets, too appropriate to need any apology
" Most schemes as money-snares-I
hate,
Aod bite not at projectors' bait ;
Sufficient wrecks appear each day,
And yet fresh fools are cast away ;
Ere well the bubbk has turn'd round,
The painted vessel runs aground;
Or in deep seas it oversets,
By a fierce hurricane of debts.
Such was a recent Corporation,*
'Yoe braze. aerpret of the nation."
VERITAEI.
• The charitable Corporation instituted fee the relief albs peer,
but was the rob, of thousands.