The British Press; or, Morning Literary Advertiser.
London, England, 1826-08-09 00:00:00

THE BRITISH PRESS.

the article in question ; and the authority of the late Mar-
quis of LONDONDERRY, which is adduced, were it even
supported by still more venerable names of later date, can
never induce us to lend our support to an opinion, who"
tendency would- be so ruinous in every respect, so de-
grading to the poor, and so prejudicial to the grand in-
terests of the country. We shall endeavour, after making
a few observations on the subject of emigration as one of
the proposed remedies for national distress, to reply to the
argmaents of our contemporary on other points. We are
not enemies to emigration; we admit that it may be bene-
ficial to a country. But how is it beneficial ? On the same
principle undoubtedly that the exportation of corn in-
creases the activity of its production, and renders it more
plentiful in consequence of the excitement thus occasioned.
Mstsneus is extremely anxious to prove that emigration
did not thin the population of Spain, because those dis-
trios of Spain from which the greatest emigration took
place arc now the most populous in the kingdom. Emi-
gration itself, then, if the arguments of that writer are
correct, has the effect of diminishing population in pro-
portion to the means of subsistence only for a moment,
and it afterwards tends to increase it in consequence of the
impulse given to the generative faculty by the abundance
of the means of subsistence. It is obvious that this re-
newed increase of population, if the means of subsistence
did not increase equally, would be productive of the same
evils which the increase before emigration had previously
occasioned. As emigration operates by diminishingthe
demand for corn, it is clear that the diminution of popula-
tion, which would tend to increase the activity of the ge-
nerative faculty, would tend to discourage the growth of
corn, which can alone maintain an increased population.
Thus, even on the principles of lit LTHUR, emigration can
only be considered as a temporary relief, if not connected
with some methods of increasing the means of subsistence.
It is too true that " those who would only call for the
labour of the poor where it is obviously and immediately
wanted, would in times like these often consign thousands
to a state of idleness, and its natural consequence, a state
of misery and crime." The journalist goes on to argue
with very great accuracy on the present state of things;
and we have no hesitatirni in admitting every one of kis
assertions, provided it can be shown that no advances can'
possibly be made in agriculture. It is most certain that a
very limited proportion of the population of England. is
employed in the production of necessaries, and if the only
employment which is to be proposed for them is to be
such as will be paid lot in gold, either by the State
or by the rich, we cannot hesitate a moment in saying
that it is impossible to employ our poor in ministering to
the mere necessities of the higher classes. We have pro-
posed that they should be employed in ministering to their
own necessities, instead of producing superfluities for
others. " One men can effect at present what was done
formerly by a litindred." This is true, even in agriculture;
but while the number of bands necessary for some of the
manual operations of agriculture has been diminished,
there has been no very considerable increase in the quantity
of produce, as in the case of manufactured goods. The case
in regard to agriculture, at present, is precisely as if the
cotton manufacturers had insisted on keeping up the price of
cotton goods by combinations among themselves, to prevent
the manufacture of more than a certain quantity for the home
market, and, by restrictive enactments, to prevent impor-
tation. There would then have been no increase of produce,
but a great diminution of the labour required for manufac-
turing it. The farmers holier not indeed agreed to confine
themselves to a limited quantity of corn ; but they have
placed themselves in a situation which removes all induce-
ment to increase their present quantity. In agriculture,
therefore, produce has not increased in consequence of the
machines which have been invented. It must be remem-
bered, besides, that whatever is done on a large scale may
be done on a small scale, and large farmers, or capitalists,
have no right to engross the advantages of scientific disco-
coveries. If every pauper were enabled to do his utmost in
improving a sufficient portion of land for the production of
food, it is clear that he would be enabled, in all circum-
stances, to support his family. Any one acquainted with
statistics must know that this country, if cultivated with
a view only to the production of necessaries, would support
a much larger population than at present, even without
reckoning upon waste lands, and without anticipating any
further scientific improvements. The mere change of pas-
ture lands to corn or potato fields, would make an amazing
difference. We do not propose to turn parks into potato
grounds, nor to change sheep, in all cases, for men. IVe
would allow the lure unite et de-ente of VOLTAIRE j but to
go on increasing useless works, and devising national
schemes of this sort, in mere wantonness, we should consider
as a degree of folly only to be compared to that which gave
rise to the Pyramids or the Tower of Babel. The Courier
takes it for granted that it is impossible to employ the poor
In useful objects, and therefore proposes to set them to work
on what is merely ornamental. This, then, is the issue
between us—ls it possible or not to raise a greater quantity
of food in this country by employing a greater quantity of
labour on the soil? We would almost maintain with
GoLnscaiTit, that every rood of ground can maintain its
man: at any rate, we are satisfied that a very small por-
tion of ground—a portion, the rent of which would be
much less titan that which would be paid for the same in-
dividual in the shape of poor-rates—might he made, by
careful and economical cultivation, to produce enough to
place that individual and his family beyond the reach of
want, though not, llsrlsops, is Abe possession of comfort.
But we do not consider a modification of this sort in
the Poor Laws the only way in which a greater atten-
tion to agriculture by the public would augment the re-
sources of the nation. If great capitalists would direct
thtir attention more to the cultivation of grain, they would
undoubtedly suecct d in making improvements which
would enable the production of necessaries to keep pace
with that of superfluities. It would be singular if nature
had made it possible to increase the products of the manu-
facturer ad iufiniton, while she has fixed a limit beyond
which those of the agriculturist can never be carried. in
the present restricted state of the corn trade there is no c-4-
couragement or stimulus to exertion in this departtnent, be-
cause the grower is forced by the high price of his commodity
to confine his attention entirely to the home market, and
to aim only at keeping his ground there, instead of trust-
ing for his profits to the extent of his sales in foreign
countries. It is therefore his object rather to increase his
prices than to augment his produce ; and a bad harvest is
even desirable to the farmer, as lie is enabled then to raise
his prices so as to do more, in fact, than indemnify him for
the deficiency of crop. 11-hen lie has a surplus crop, be
cannot export it, on account of the little attention which
is paid by speculators to a commodity so rarely available
in foreign markets. The consequence is, that though some
waste lands were brought into cultivation during the
war, the improvement in this department has, on the
whole, been trifling. The very arguments of the advocates
for the Corn Laws, on this head, are proofs of the accu-

racy of our propositions. They say that the diminu-
tion of the price of grain would render it impossible to
cultivate the waste lands, because the expense of cultiva-
tion is so much greater than in the case of good ground.
It is obvious that this greater expense must arise from
greater labour required, either in the immediate cultivation,
or in the production of articles necessary for that cultiva-
tion. Labour is precisely the commodity of which we
have too much, and this species of cultivation is precisely
the object in which we are desirous of employing it. While
the Courier advocates the liberal but moderate principles
of his Majesty's Ministers, we shall ever feel proud of
walking in its steps, and adding our feeble efforts in their
support; but when it advocates the cause of obsolete pre-
judices, of partial interests, of contracted notions—we must
be content to separate ourtse:ves from it, however re-
luctantly. In this case we must do so most decidedly,
without regard to the influence, the reasoning, or the
ridicule of our contemporary. We must do so, even if we
should run the risk of being overwhelmed by the new
Pyramids, or buried under the foundations of the modern
Babel.

CITY. Tv ESDAT EVENING.

The Money .Market commenced this morning with greet
activity. Consols opened at 794, and by twelve o'clock
had reached 79j. About this period the settlers were very
numerous and weighty: the consequence was a reaction,
and at the close of the market they bore the quotation of
only 794. It is quite clear that certain parties had calcu-
lated upon their reaching 80, but upon their getting to
791 they abandoned their position, and realized at that
amount, and the effect on the market was as we have
stated.
In Foreign Stocks there was also some considerable busi-
ness done. Mexican Bands, which also bad a re-action at
the close of the market, were 544, showing a slight ad-
vance since yesterday of 4 per mut. Colombian are
stationary at 334.
The Share Market displays about the same degree of
alertness as yesterday. Tlalpuxahua have advanced to 10,
and Brazilian to 23 premium. Other Brazilian shares
that have been below zero show trifling quotations.
The sales of Sugar to-day in Mincing-lane have been of
some extent, at prices not lower than last sales, and for
other articles there is a fair demand.
The Course of Exchanges remain without variation.

COURT OF ASSIZE. AT PARIS.

STOCKJOBBINO.
The Sleur Jean Illarie Raymond, aged 43, formerly cashier to
Baron Rothschild, banker, at Paris, appeared on Saturday before
the Court of Assizes, the Counsellor de Monmerque being Presi-
dent. The prisoner was received, about the year 1816, into the
office of M. Rothschild, in the capacity of a clerk. His salary,
fixed at first at the usual rate, soon rose to 8.000 francs (about
320/4 a-year ; but whatever might be the advantages of such a
situation, the financial operations which Reymond witnessed, and
the considerable sums of motley which were continually passing
through his handy, soon inflamed his avarice to such a degree as to
lead him into speculations en 'Change which his personal means
did not enable him to support. As he was cashier for six years in
what is called the Neapolitan Office, and enjoyed in the highest
degree the cor &knee of Baron •Itothechild, he Lad constantly
large funds at his disposal, and particularly the dividends of the
Neapolitan Loan. It was about the year 1819 that Raymond began
to gamble in the Stocks. lie employed at first for the purpose a
sum of 60,000 franca, which may possibly have belonged to him;
but having lost his first capital, in seeking to recover it by specula-
tions, which became every day moss sail more disastrous, he at last
fell to draining without scruple the cash-box which was entrusted
to him. He continued to do so for six years in succeasion, anti in
order to pay the balances to his debit at each montlt'a reckoning,
which brought him a loss, he abstracted sums to such an amount,
that, by his own confession, they cannot be estimated at less than
1,61)0,000 francs (about 61,0001.). These embezzlements were
continued without being observed till the end of November, 1T28;
but Jostle was aware that the result of the liquidation at that time
must inevitably discover the deficit, Raymond determined to fly,
and disappeared from his house on the morning of Sunday, the
4th of December, the evening before the liquidation should have
taken place. lie fled to an inn at Bourg la Rriee. Hating re.
turned to Paris on the night betweeb the 9th and 10th of the same
month, alter wandering about till day-light, he obtained an asylum
at the house of one of bra friends, whose hospitality he had im-
plored fur the moment. lie was arrested in a few hours, and a
cord with a running noose was found upon him, apparently in-
tended to enable him to commit suicide. On his examination he
appeared perfectly calm, and answered the questions of the Presi-
dent with much precision and frankness. The following Interro-
gatories were put to the criminal and the different witnesses :
Pn esinesT —At what time did you enter the service of 11,
Rothschild ? Reymonii—ln 1816.
Q.—N{9lot was your employment? A—Head clerk.
Q.—You were head clerk in the Neapolitan office? A.—That
was not the only part of my employment. It was also my duty to
pay the contributions imposed upon France by the Allies.
Q.—Did you always meet with losses in your speculations ? A.
—Always.
Q.—After losing the 60,000 francs which were yonr own, where
did you find mot ey ? A.—ln the cash-box ; but of all the funds
employed in my speculations on 'Change, 1 never kept a single
five franc piece for myself.
Q.—When you run away on the 4th December, did you take any
money with you ? A.—No, Sir.
Q.—But you said that you left some money at your house ?
A.—l thought that I really did leave 6000 francs, and the indict-
ment shows that they were not found there. Illy head was so con-
fused that it is possible I may not have left them.
The first witness called was the Baron Rothschild.
Q.—Do you know the accused ? A.—To my sorrow.
The PRESIDENT here direcird witness to state what he knew
on the subject.
M. Rothschild then stated the facts contained in the accusation.
lie had had such unlimited confidence in the accused, that he
would never have thought of examining the cash-box if he had not
abecontled.
Q.—Did you knew that he was engaged in stock.jobbing ?
A.—lf 1 could have thought so, he should not have remained a
moment in my house; and I was so freftorniftlnkineeso, that
Reymond once expressed himself with great vehemence against a
young man who had on a similar occasion abandoned himself to
this species of gambling.
The next important witness was M. Maubousin, who deposed
that he had made a great number of purchases and sales for Rey-
mond. He managed these transactions as other people do. Nut
as a cock-broker. These were transactions de coadeste (behind the
scenes). They were tolerated oa flange. The losses of Rey-
mood in the month of November were 6150,01)0 and odd francs. Ile
knew what the employment of Iteymond was, but believed that he
acted for others.
Messrs. Tastel, Dosne, Demoutis, Revd, ant: ',either., made
similar depositions. They believed Reymond to be merely the
man of straw in these transactions. All the transactions were
unfavourable. M. limber; declared that he had seen a person
in the office of Re‘mond who spoke English, and for whose ace
count he believed that he was speculating.
Reymond-1 never hall any connexion with Englishmen ; the
person of whom M. ',outlets speaks was the Spanish Ambassador,
M. Casa Intim
The ADVOCATE-GENERAL (Ile Vatifreland), in commenting
upon the admissions of the accused, took occasion to make many
SWIM reflections 011 the evils asking from stotkjobbirg,
31. COUTITRE, on behalf of the accused, urged his former good
conduct ; and he maintained that Raymond was not a clerk, but
a partner in the house of Rothschild, which exempted him from
the capital charge.
The Jury, after a few minutes* deliberation, declared the accused
guilty of robbery in a house in which he worked as a hired servant.
and the Coati condemned Reymoral,in consequence, to eight years'
moment in irons.

It is said that the balances in of the London
hankers, and the amount of unemployed capital in the
hands of the hill-brokers, are large at the present moment,
almost beyond all precedent. Some of the bankers have
depo.ited large sums in the Bank of England, not choosing
to keep 60 much wore than they require in their OM cus-
tody.