The National Register.
London, England, 1819-05-31 00:00:00

sentiments of unusual foe* elegance, s*l beauty,
Viby should intolerance tints keep her last hold
upon breasts 'which should be peculiar!? the abode
of reason improved by learning, and of cluteitf
fanned and fettent4 by

also most ably -and -powerfully discussed amongst
the Lords. The solemn and public recantation of
a man like Lord Grenville, a man now entirely
unconnected with any party, almost totally with-
drawn from the toils of public life, and political in-
tripe, and who, during the -eventful period in
which this measure had been originated and- pur=
sued, had borne so large a share of influence upon
the public councils, is at once a striking and most
important lesson. " Having," says he, "considered
this Restriction as one of the greatest calamities under
which this suffering -country has laboured, having
frequently had occasion to lament and deplore the
part which I myself took in it, on its original pro-
position, haviog.avowed my error in so doing,as
becante an honest man, at the commencement of the
last war ; and having propheeied but-too justly all
the distress end misery which would befal the
nation in consequence of it, I cannot help expressing
my joy and satisfaction, that a period is now come
when we may look forward to the Repeal of this
injudicious and unfortunate measure." No one
now seems bold enough to deny that to this we
owe, at present, both commercial distress, increased
prisms, and augmented taxes ; and it is not less clear
that to its operation in times past, and over which
we ran only now look back and mourn, we owed
the maintenance of that series of political measures
which have resulted in such an unparallelled Load
of Debt, and the sacrifice of lives unnumbered.
Why we should not instantly have returned to the
tight path, it is very difficult even with all the la-
boor bestowed upon proving its danger, to see any
adequate reason. Lord Grenvilie's opinion is, that
cash payments might have been safely resumed this
year.; and we have every fear from delays, know
ing how dargerous they are. Four years are now
contemplated as the time to be allowed before
we are to be 'quite restored to a sound and healthy
circulation. What and if war should again break
out during this important interval ? Will not Go-
vernment be again inclined to make useof the Bank
of Englund; and if that Company should ever again
get a controul over the pockets of the People of
Englund, what is to rrevent us from being again
subjected to the same degrading and unnatural state
of Political, or rather Pecuniary Bondage ? What
is to prevent the Bank of England from spin be-
coming, as they now assume themselves to be, " the
Guardians of the Interest of the Nation ?"—We
have heard those gentlemen repeatedly and repeat-
edly declaring, that they gained nothing by the Re-
striction, and that they were exceedingly anxious for ,
its removal. What credit is now due to such asser-
tions is but too clearly proved. The very moment
that a determination was manifested by the country
to roecue the Government from their trammels, re-
monstrances peered in like grape-shot upon our
trembling and appalled Minister of Finances ; the
Bank told him flatly they should call in the Debt he
owed them, and Bank-stock has fallen at a rate

tb4latett *lon is sho, maids otait4t re-
teciniier. '411.6 *Oh
.ir stn,, 'Rd eur Basra ,
pups a tb.t ssatt-Wothee Pow =trio biolnk

become-triumphant, and thot birbittere‘t opponents
•are forced to acknowledge thitruth and wisdom of
his doctrine on the snbject. Eirtunate it
would have been for the empire, if they had been
acknowledged and need upon when first promul-
gated! It would have saved this country hundreds
of millions, as well as much of our most valuable
blood ; for nothing can be more true, then the
honest acknowledgment of Lord Grenville, that
though the inconvertible .paper system gave great
fatilities to Ministers, is the wor in .which they
involved us, yet they were more "than counter-
balanced by the confusion which it introduced into
our finances, and the misery it brought on the
country.

Thj same argument of giving great facilities to
Ministers, ought in the present moment, and at all
times, to make patriotic and independent Members
careful haw they again trust Ministers with power
that they may abuse. The revival of a Property
Tav, however pressingly called for by temporary
embarrassment, has this dangerous evil in itt.compl.
sitimi, that it puts an engine into the hands of
Ministers which may be employed ut their pleasure
in extending their influence, or 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 coinain.
Winn tax, and strive to reconcile country gentle-
men to it by relieving them from the vexatious bur.
then of assessed taxes--ani what security can -
we have, that they will not year by year add to its
annoyance as tkry did before, and make it intolerable
to the community ? We ought to dread its revival
under any shape, and with whatever plausible con-
ditions it may be found, for it is certain, that with
this resenrce once granted, all hopes of retrenchment,
all cutting off of 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 part of the United
Kingdom—and that the universal demand will be,
retrench first—reduce establishments—and see what
the reform of every branch of our expenditure will
do for the nation before it is called upon fur moce
taxation. It is not a vague supposition of ours,
that Ministers are contemplating the return to this
obnoxious tax. It is the universal belief, in the
circle of ministerial adherents, -tharthey are at this
moment feeling the pulse of all over whom they
have influence, and arc actually canvassing fin. votes
on the matter.

We rejoice to see, 'tbat the artful panic, excited
by the speculators, against the return to a metallic
currency, has already subsided. Wednesday the
funds ruse and ft.4l 21, per cent. and very large port
chases were made. We have no doubt, then, be,
that, if wise and prudent measures were adopted,
the revenue might be made equal to the expenditure,
without recuning to the alarming, expedient of a
property tax.

TH. Tutu—From thr Inc exhilii!irin at Yoilc, it
would seem that Sir NI irk Sykes's 011, 101v:whim:ILIA,
was the hiliNt auJ toast die tiliti6o.waalJout
to appear.

On Tuesday last a meeting of the coal-merchants
of Newport, and the proprietors of collieries in its
neighboorlnsal (at which every colliery working the
brown ash coil, with the exception of one on';•, was
represented), was held at Westgate-inn, in the town
of Newport ; at which distressing statements of the
pretetat situation of the trade were made, and uni-
versal couvic!ion prevailed of the alooltite necessity
of speedy relief. We are sorry to be gi.en to under-
stand, from the best authority, that grant numbers -f
workmen have been discharged from the collieries
within a short space of time, and ti-at ethers have
terporarily suspended their worlings.

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