The National Register.
London, England, 1819-05-30 00:00:00

'._PRlct %ft

tions is but too clearly proved. .1 !I • I r moment
that a determination was manifested by the country
to rescue the Government from t:aeir trammels, re-
monstrances poured in like gape-shot upon ottr .
trembling and appalled 3i:tiger of Finances ; the
Bank told him flatly they 5ht,..11.1 call is the Debt he
owed them, and Bank-stock has fallen at a rate
which the oldest dealers in that artide cannot re-
member. The bubble is bursting, and our sincere
prayer is that such another never may be biov..n.

It is truly gratifying to the friends of freedom,
that the principles of Mr. Fos, on the great ques-
tion of the Bank Restriction Act, have at length
become triumphant, and that his bi; terc,:t opponents
are forced to acknowledge the truth and wisdom of
his doctrine on tile subject. How fortunate it
would have-been fiir the empire, if they had been
acknowledged nod acted upon when first promul-
gated ! It would have saved this country hundreds
of millions, us well as touch of our most valuable
blood ; for nothing can be more true, than the
honest acknowledgment of Lord Grenville, that
though the inconvertible paper syst,:io gave great
facilities to Ministers, in the war in which they
involved us, yet they were more than counter-
balanced by the confusion which i; introduced into
our finances, and the misery it brought oa
.the
country. _ . .

The same argument of giving great facilities to
Ministers, ought in the present moment, and at all
times, to make patriotic and independent Members
careful how they again trust Ministers with power
that they may abuse. The revival of a Property
Tar, however pressingly called fur by temporary
embarrassment, has this dangerous evil in its comp-
sition, that it puts an engine into the hands of
Ministers which may be employed at their pleasure
in extending their influence, dr even in plunging us
again in war. Give them once their modified tax—
keep out all the inquisitorial part of it in the begin.
ning—nay, make it in the first instance a commu-
tation tax, and strire to reconcile country gentle-
men to it by relieving them from the vexatious bur-
then of assessed taxes--and what security can
we have, that they will not year by year add to its
annoyance as they did beibre, and make it intolerable
to the community ? NVe ought to dread its revival
umier any shape, and with tvhate?er plausih:e con-
ditions it may be found, fint it is certain, that with
this resource once granted, an hopes ofretrencliment,
all cutting otfof useless and even hurtful sinecures—
all reduction of the army—all economy will vanish.
Let us hope, that the voice of the people will be•
heard on the subject, from every cart of the United
Kingdom—and that the unhersal demand will be,
retrench fir3t—reduce establishmants—and see what
the refbrin of every branch of our expenditure will
do for the nation before it is called upon for more
taxation. It is not a vague supposition of oars,
that Ministers are contemplating the return to this
obnoxious tax. It is the universal belief, in the
circle of ministerial adherents, that they are at this
moment feciing the pulse of ❑il over whom they
have iemence, and are actually cauva.ssing fur votes
on the matter.

We rejoice to see, that the artful punk, excited
by the speculators, against the return to a metallic
currency, has already subaicleil. Wednesday the
funds rose and fell 24 per cent. and very large part
chases were made. We have no doubt, then, bit,
that, if wise and prudent measures were adopted,
the revenue might be made equal to die expenditure,
without it to the alluming expedient of a
property tax.

Tt:::e —From the late exirbi;:ott 3t York, it
..o !cent that Sir Mark Sykr3's colt, Itha:Lttnai,h
was the ben and tuot.t protni..n6 of :he
.ottogottes about
to Jrpear.