The Sun.
London, England, 1822-03-27 00:00:00

and when we; consider the facility of all paper

interchange between man and man, we almost
wonder that the necessity or even superior advan-
tage of metallic currency should ever have been
brought into question. To place the matter in
a still more lucid point of view, let us suppose
that no Bank of England or private Banks were
in existence, no yaper of any description issued,
what would Terrain to meet 60 millions raised
annually on the subject to meet the contini;encies
of the State in the payment of its creditors, and
the necessary establishment of the country ? The
plain answer is, nothing but the precious metals ex-
isting in it, not amounting to 1-3rd of the demands
of a single year. Now although that supposition
stands founded on an extreme case, yet the prin-
ciple once established, as founded on strict practi-
cal truth, does it not extend in a greater or lesser
degree to all the circumstances of the country ?
Do away your paper credit, and the whole ma-
chine of Government instantly stands still : do it
away in part, and every portion of the commu-
nity feels the instant consequences of it, in the
depression of prices and all the mischiefs natu-
rally dependant on that depression. High taxes
and low prices are wholly incompatible, nor can
, the one be long paid whilst the other remain as
they are. True it is, that the manufacturer en-
joying higher wageS, or -what is precisely the same
thing, able to purchase commodities at lower
prices, may be enabled for a time to expend
more in exciseable commodities, and thus for a
certain period raise the revenues of the State, as
has been found the case. But how can this pro-
portional expenditure be obtained, when his
home market is destroyed by the ruin of his best
customers, the cultivators of the soil ? Can the
proprietor with diminished rents, can the tenant
with diminished returns for his produce, expend
what they formerly did with the shopkeeper, or
he with the manufacturer? and what then his
dependence but solely on the foreign markets,
which cannot take one moiety, or a third, or even
a lesser proportion of the articles of his manufac-
ture ? Nations now are led to manufacture for
themselves, to our exclusion ; and it is under-
stood that already are the foreign markets,
European, American, and Indian, filled with our
unpurchased articles, which are sold and selling at
prices below those which, they cost the original
manufacturer. The maintenance of such trade
can never be beneficial to the country at large ;
and it would be preferable in a commercial point
of view wholly to desist from prosecuting it to so
evident a disadvantage. A pamphlet was written
some years ago by a Mr. SPENCE, which ran
through six editions, and met with almost uni-
versal approbation. It demonstrated most clearly
the insignificance of foreign commerce, compared
with the advantages of an exclusive home mar-
ket, and the perfect cultivation of the soil. The
author shews to demonstration that a country
may be in the highest state of opulence without
any foreign commerce at all, but at the same time
he holds up the advantage of encouraging manu-
factures principally to form a market for the
commodities of the cultivator, who cannot consume

the whole of his produce, but must have customers
to take all superfluous products out of his hands.
He instances the two greatest and most flourish-
ing nations in ancient or modern times, China
and Japan, neither of, `which are at all dependent'
on commerce, but place it under all possible re-
strictions ; the former most evidently wishing, if
possible, to rid itself of your limited trade to
Canton, where the Mandarins on the spot and a
privileged company of merchants are the sole
gainers by it, without any substantial benefit to
the State, but are restrained by what they have
seen of your power in the neighbouring provinces
of India. In the other all trade, all intercourse
with foreigners is strictly prohibited, with excep-
tion only to one Dutch vessel, permitted to trade
under restrictions and privations of the severest
and most humiliating description. This does
not appear to have been advanced with a
view to depreciate the manufacturing system,
but simply to shew that it ought to be rendered
subordinate to the more permanent and substan-

tial agricultural one, and not permitted to super-
sede it, under the impression that the riches or
happiness of a state depended more on manufac-
tures and external commerce than on the home
market and perfect cultivation of the soil. The
economists, as they are termed, of France, car-
ried their ideas on these subjects much further,
even to absolute absurdity. But .I‘lr. SPENCE
goes no farther with them than has been above
stated, and appears to the writer of this per-
fectly justified in the far greater part of his rea-
sonings, supported by strictly logical arguments,
decuced from self-evident propositions, requiring
no farther demonstration. Although the system
now adopted has been already carried into effect,
and the governing powers of the State naturally
feel great reluctance to confess themselves in
error, retread their steps, and revert to the for-
mer state of currency, it is hoped, when they
see almost every proprietor and every cultivator
of land in the country loudly exclaiming against
the immediate pressures, some humbly soliciting,
and others peremptorily demanding relief, that
they will not shew themselves insensible to their
distresses, but immediately relieve them by every
means in their power. None, the writer thinks,
perhaps too presumingly, stand under that
predicament but those he has pointed out;
but though it would appear by the event
of almost every county meeting, that one man
attributes the distresses which he but too sen-
sibly feels to one cause, a second to another, and
so on through all the multiplicity of causes to
which such deleterious effects can possibly be
ascribed : Yet as the better informed Ministers
must see that what is speciously termed a Reform
of Parliament is impracticable, or if otherwise
eminently destructive, and the reduction of taxes,
to any great and beneficial amount, equally so ;
what remains for their consideration but the state
of the currency of the country, in fact productive
of all those immediate evils complained of ? To
these he believes they can find no remedy but in
a return to the former system, encouraging an
enlargement of Bank and Bankers issues, raising
prices proportionably, and in the end producing
that reciprocity of' interests between the cultivator
• and manufacturer, the agricultural and monied
interests, that ought to subsist in all well regu-

fated states, and without which the whole system

of Government is at once broken.down, and every
factious, unprincipled, and chattering demagogue
set up as the saviour of the,State.
Should, however, the governing Powers of the
State still continue to see things in their former

point of view, and having St) far embarked them-
selves in the present system as to render a return
to the former one difficult, if not impracticable, the
writer begs permission to offer what he thinks
might in some measure palliate, if not wholly re-
medy, the mischiefs complained of, and once more
place the agricultural system on a beneficial and
permanent foundation. His ideas on the subject,
in a few words, are these. It has.been thrown out
by the CHANCELLOR of the EXCHEQUER that he
could manage to issue four Millions for the relief
of the landed interest, to be lent to the different
districts for the support of their poor. How this
could be rendered either practically applicable
or generally acceptable, the writer, in common
with many others who have cast their minds on
the subject, is at a loss to see. But an issue to
that amount being, by the Minister's own con-
fession, practicable without injury to the revenue,
it only remains to be determined how that appli-
cation can be rendered most beneficial to the
State. Amongst the multiplicity of plans that
would be submitted for that purpose, the writer
humbly begs permission to offer his own as ap-
parently best calculated for every useful pur-
pose. In a few words, then, let two of the four
millions' be applied to the purchase of grain at
the most considerable markets of the country,
and let this be warehoused and resold to the
public, as it might very shortly be, at an advance
of price equal to that of prime cost and all inci-
dental charges ; this would give an immediate
stimulus to the corn-market, and disburthen the
farmers' granaries of all their unsold produce,
whilst the whole capital advanced would be very
shortly returned to the coffers'of the State. This
would of course instantly raise prices, and not
improbably to an extent, that might open the
ports, and cause a prejudicial influx of fo-
reign corn into our markets. Against this,
however, the greatest evil that could befal
the cultivator, immediate precautions must be
taken by the shutting of the ports, with the sole
reservation of the power of opening them at
any time by the King in Council, upon any
unforeseen emergency, such as the prospect
of dearth, or the too excessive rise of grain in
the home markets. This measure must there-
fore indispensably attend the other, or an im- '
port duty be laid on all foreign corn, tending
to equalize prices, and at least perrAit the'
cultivators of our own soil to compete with those
of other countries : 40s. per quarter on wheat, and
other grain in proportion, has been considered as
that equalizing price, beloW which no such com-
petition can be maintained. But it may be said,
will not the importers of that grain, which has
been for a considerable time past stored in your
warehouses, and whose importation has been en-
couraged by acts of your Legislature, have 1
just cause of complaint, if either subjected to'
these new duties, or prevented by other means
from bringing their stores into the market ?
—To obviate such very just occasion of com-
plaint, let them be permitted to bring their
grain to market. When prices rise to 70 shil-
lings per quarter, which if once the ports were
closed would very shortly prove the case, that
would pay them amply for their importation and
their warehousing, and leave them without any
just cause of complaint. As to the remaining
two millions, let them be advanced to agricul-
turists generally, whether proprietors or occu-
pants, under good and sufficient securities for a
certain period, say two or three years, at the
end of which they should be replaced with inte-
rest, without any loss, or at least any material
one, to the State. Let Commissioners be appoint-
ed narrowly to watch the validity of such secu-
rities, as was done 'some years ago in the ad-
vances to the West India interests, which
were thereby effectually relieved without the
loss of a single guinea to the community at
large. An immediate adoption of these mea-
sures, and a firm adherence to them, might
remedy all the immediate pressures on the agri-
cultural interests, and restore that equilibrium
between those and the monied ones, the present
inequality of which produces so much substantial
injustice, and such dreadful depression of prices
as can no longer be sustained. The writer begs
leave, with all humility, to submit these his opi-
nions on the most interesting subject that
ever engaged the notice of the public to
their consideration, as, without the adoption-.
of one or other of his plans, lie really sees no
prospect of any thing short of total ruin to the
best interests of the country. The writer per-
fectly understands that the Bank has increased
its issues for these last two years, but in a very li-
mited degree, and the calling in of the pound notes
has more than counterbalanced that difference.
But the fact is that the issues from that respect-
able body were at one time 30 millions and up-
wards, and are now reduced to 18, and -of course
subject to further reduction, at the option of the
Bank Directors. So that it lies in their power
to reduce the credit of the Kingdom to nothing,
and thereby deprive it of all resources what-
! ever; for, as has been before repeatedly urged, the
precious metals in the country would not meet one
moiety, perhaps not a third, of one single year's
revenue ; whereas, permit the Bank to have an
option of taking up their notes in money or paper,
all their difficulties and those of the nation are
done away ; whereas whilst they are compellable
to take up their bills in gold, great caution
must be used on their part to limit their dis-
counts to what of that precious metal they have
in their coffers, or subject themselves to risks
of the most dangerous description. All appre-
hension of their issuing more paper than the
fair circulation of the kingdom demands, may be,
and is, limited by Parliament, which calls yearly
for an account of issues,'and, when found exces-
sive, can at any time controul them. I. S.
P.S. The writer has just seen a paper in the Farmer's Journal,
subscribed RICHARD HixmAN, which appeals to state the mat-
ter of currency, and also the mode of appropriating the 4 millions
held Out by the CiIAN'CELLOROf the EXCHE QUER, very, correct-
ly, or at least in almost perfect conformity will`. your CorreSpond-
ent's ideas. Mr. H. maywrite in no very polished style, but his view
of things is correct, and well merits the attention of Government,
and of every good and well intentioned subject in the kingdom.

THE LONDON JOURNALS.

EXTRACTS FROM THE DAILY MORNING PAPERS,

March 277 1822.

[BRITISH PRESS.]
An interesting discussion arose in the House of
Lords upon Lord King's motion for an Address
to the King, praying for a reduction in that part
of the expenditure of the Civil List which is spe-
cified in the Act of the 56th of the late King as
the third class. The remarks of the Noble Lord
with which he prefaced his motion, referred prin-
cipally to the vast increase which had of late
years taken place in the salaries annexed to di-
plomatic appointments. The question therefore
to be discussed was the necessity or expediency
of maintaining the ;former embassies upon their
present scale of expenditure ; and for our own
parts we are decidedly of opinion, that if it be
proper to have Ambassadors in Foreign Courts, it
is fitting that they should be enabled to maintain
their own personal respectability, and to repre-
sent their Sovereign in a manner suitable to his
dignity. There are few appointments under the
Crown of a ministerial nature of more serious in-
terest to the safety and honour of a nation engaged
in relations, commercial or otherwise, with Fo-
reign Powers, than those of the Ambassadors,
and it used frequently to be observed that in this
essential particular -England was remarkably de-
ficient. If the amount of pecuniary emolument
annexed to the office were to exercise uny power
in determining its elevation or importance in the
scale of ministerial dignityy and of thereby in-
fluencing men of distinguished talents to accept
of such appointments, the increase of salary might
be judiciously made the means of essentially pro-
moting the public good.

[MORNING POST.]
In the House of Lords, last night, Lord King
moved an Address to his Majesty, to order cer-
tain reductions in those branches of the Civil List
not connected with his personal expellees. In
the performance of this task, his Lordship was
obliged to acknowledge at the outset, the magni-
ficent sacrifice which the King had lately made
to the distresses of the Country. lie con-
fessed that it was altogether a spontaneous royal
boon to the people, inasmuch as Parliament,
having settled this part of the Civil List for his
Majesty's life, could not have asked or expected
such a surrender. We imagine, however, that
this admission on the part of his Lordship was
only for the sake of effect, as he instantly
launched into a tirade against Ministers for not
following the example of their Sovereign, and
reducing the public expenditure, in proportion to
the reduction of his Majesty's private income.
He also observed, that the above sacrifice should
have been communicated by a Royal Message,
and an Address of Thanks be returned in the
usual manner ; but we can well conceive that the
different course adopted emanated, as well as
the noble gift itself, from his Majesty's own ex-
alted mind, which shrunk from any thing which
might indicate a consciousness of his own gene
rosity.

[MORNING CHRONICLE.]
It has been so often stated, that all differences
were settled, and that there would be nq war,
that a fresh positive declaration to the same
effect is ❑ot calculated to give the greatest pos-
sible assurance. We have constantly asserted
that nothing was decided with respect to these
differences ; and, in fact, the complexion of af-
fairs has hitherto been altogether of a warlike
nature. But great efforts have certainly been
lately made, both by England and Austria, to pre-
vent Russia from availing herself of the present fa-
vourable conjuncture for carrying the designs of
Catharine into complete execution; and though
nothing can be more hazardous than, in a case like
this, where national feeling, national policy, and
strong interests, are in question, to predicate of
such a Personage as the Emperor Alexander,
what course he will follow, we think it incum-
bent on us to say that there is at least some
ground for believing the negociations now carry-
ing on at Vienna may end in a peaceable arrange-
ment. We wish, at the same time, to have it
understood, in order that no one may be misled
by us on so important a subject, that we give no
opinion. All we can say is, that the high Parties
appear now more disposed to reconciliation than
they have appeared at any former time.

[MORNING HERALD.]
Somebody has said that true benevolence could
net be made to appear ridiculous by any effort of
wit or malice. We should he sorry to subject
the benevolent purpose of making " the native
Irish" acquainted with the Bible through the me-
dium of an Irish translation to this criterion. For,
without employing upon this project either malice
or wit, it is impossible to contemplate it without
a smile. In the first place, how utterly igno-
rant must those projectors be of the real state of
If eland ! There are but two provinces in which
the barbarous, discordant jargon, called Irish, is
exclusively spoken by any proportion of the
people, viz. Connaught and Munster: and, of
the population of even these provinces, at least
four-fifths are more or less acquainted with the
use of the English language. It is true that,
among themselves, they speak Irish, and that,
on Circuit, nitnesses frequently pretend igno-
rance of English, merely " to puzzle the Coun-
sellor ;" but English is not the less universally
known. But, even supposing it were not so,
still English should be made the sole vehicle
of instruction. The n'ative jargon, if we may
so call it, at the present day, is so associ-
ated with ignorance and barbarism, that every
effort should rather be made to get rid of it.
Even in the manuscripts that remain in this dia-
lect, there is scarcely any thing beyond the mere
play-things of antiquarian curiosity—some few
ballads, already translated—some giant tales in
the manner of, or nearly identical with, the
noted bombast called Ossian's Poems. There is
nothing by which history, or art, or science may
profit, in the chief collection in the LYisiversity of
Dublin.

[NEW TIMES.]
The Times, quoting the authority of another
Radical print, informs its readers " that Mr.

Bootle Wilbraham will become a Candidate for
Liverpool, on the approaching resignation of
Mr. Canning "—and further, that as the former
Gentleman will encounter a vigorous opposition,
he has decided upon contributing 50001. towards
the expences of the contest. It is quite suffi-
cient to point out the authority on which
this idle rumour rests. The event alluded
to, with respect to Mr. Canning, is, indeed,
far from improbable ; but that Mr. Bootle Wil-
' l braharn means to avail himself of it, in the man-
ner above indicated, is quite the reverse.—
It has long been known that the Marquis of
Hastings has irrevocably determined to return
to Europe, on account of his health, and other
personal reasons. It is equally well known that
the Directors of the East India Company enter-
tain the highest possible opinion of Mr.Canniog's
powerful talents, and accurate knowledge of In-
dian affairs. The appointment of Governor Ge-
neral is in their nomination, the Crown possessing
no more than a veto on it, except in the case of a
lapse. Public opinion has therefore' most natu-
rally surmised that the Court of Directors would
be anxious to place at the head of their Indian
Empire an individual who has for five years devoted
the powers of his mighty mind to an intimate ac-
quaintance with all the complicated interests of
that empire and its commerce. Speaking from
our own feelings, we should say, that the with-
drawing of the Right Hon. Gentleman's talents,
from the scene of their long and brilliant display
in Parliament, would be a national loss; but if
there be any other sphere in which they can be
exercised, as honourably to their possessor, and
as beneficially to his country and the world, it
must no doubt be the Chief Government of India.
To consolidate a power raised by the victories of
Cornwallis, Wellesley, and Hastings, requires a
reach of thought, an energy of character, a steady
habit of business, and a practical acquaintance
with Indian interests, which few Statesmen can
boast, but which are all united in Mr. Canning.

[THE TIMP,S.]
We have said that the money lavished upon
Ambassadors was spent abroad ; but the com-
pany of Lord Stewart, who receives 12,0001. a
year, is very generally dispensed with at Vienna ;
and Lord Burghersh, who receives 3,9001. a
year, as resident at Florence, is now, and has
long been, resident in England.—But the most
disgusting job of the whole is the Swiss Charge
d'Affaires. That person in 1791 received 2501.
a sum quite large enough for the agent in a coun-
try where there is no Court, if indeed any
thing was paid : for what has Switzerland to
do with us, but to transmit our idle travel-
lers across its surface to Italy ? To Mr. Strat-
ford Canning, the salary was raised from that
modest sum of 250 pounds to above a thousand ;
and it now stands on the list (for Charge d'Affaires
and Secretary of Lecrai7.., one thousand five
hundred and ninety-five pounds. Why, if the
Secretary of Legation and Charge d'Affaires
(supposing there to ;..e two of them) were clever
fellows, they might hire troops, and carry on
endless war against the Cantons, for less money.
There is also a statement, that the Wynn
who is going out 'is to receive a yet higher
salary, in consideration of the disinterested
services of the party. But the publicity which
the affair has now acquired, will, we hope, blow
up the whole transaction.—Lord King spoke in
terms of praise of his Majesty's relinquishment of
30,0001. a year out of his income, during the pre-
sent distresses of the nation. Surely the 58,0001.
a year, which have (upon what principle but that
of a gratuitous desire to throw away the public
money, we know not),—but surely the 58,0001.
a year which have been added to the salaries of
the Ambassadors will be forthwith deducted. It

is to be remarked, also, that most of our other ex-
pences had enlarged with the war; an increase
of business, or the augmented price of provisions,
being pleaded in excuse : but when all the world
was against us, we had of course no residents at

the Courts of our enemies. It was therefore
only when the peace broke out, that all those
diplomatic vessels were sent forth, as it were,
with letters of mark and reprisals, to cruize
against the finances of their native country : Vi-
enna twelve thousand strong ; Paris twelve thou-
sand ; Holland thirteen thousand, and the Com-
modore continually shifting his pendant for the
sake of prize-money ; Switzerland, a small brig,
but armed at a great expense to cruize in a fish-
pond ; Tuscany double-shotted, but the Captain
ashore fiddling. Such are some of the " cankers
of a calm world and a " long peace."