The Sun.
London, England, 1849-01-27 00:00:00

THE SUN, LONDON, SATURDAY EVEN ING.,

A BUDGET FOR THE MILLION.
TO THE, EDITOR OF THE SUN.
Sin,—l am very thankful to you for having so
early pointed out the error I committed in the 5 per
cent. calculation, but which as you truly observe
does not in the slightest degree impair the principle
of my proposal to pay off the debt. It still remains-
-1 st.—Discreditably dishonest not to pay it.
2d.—Easy to pay it.
3d.—Profitable to pay it.
Not so profitable, of course, as I had supposed,
because it will take 10 per cent. instead of 5, but
still very profitable. I now hasten to repair the error
I committed.
First,—You will observe that desirous of calcu-
lating everything against myself, I said that the
value of realised property was from 10 to 30 years'
purchase, and therefore I would take an average of
20 years' purchase. Now it is a matter of fact
within the knowledge of every one, that the property
only worth 10 years' purchase is very inconsiderable
both in quantity and value. 25 per cent. instead of
20 per cent. would therefore be a more fair average.
Secondly,—You will observe That in my letter, I
said " I will not now trouble you with figures show-
ing how aportion of the debt might be converted into
annuities." Of course, if the whole amount was to
be paid off, this operation would not he necessary.
The paragraph was inserted for the purpose of meet-
ing any deficiency in the means ; and I purposely
showed a sufficient surplus income to pay such annui-
ties to a considerable extent.
Thirdly,—No honest man would desire to receive
one hundred pounds for that which was only worth
ninety, and no sensible man would think of paying
more ; therefore, the debt to be paid off, or to be
converted into annuities, would in round numbers be
about seven hundred millions.
Taking then the annual value of the realised pro-
perty at Mr. Macgregor's estimate, 220,000,000, and
the value of this at twenty-five years' purchase, it
would produce 5,500,000,000, and 10 per cent. on
this would realise 550,000,000, leaving about one
hundred and fifty millions to be converted into
terminable annuities.
Although I could not intentionally have committed
the error, yet I can hardly regret it, because there
are minds so constituted as to feel far greater pleasure
in ridiculing an error than in grappling with an
argument : such men would never have noticed the
latter, while they will gloat over the former.
These men are heartily welcome to their amuse-
ment ; I sincerely hope their shout will be both long
and loud ; let the people answer it by one more tel-
ling. Well, if five per cent. will not do the work,
ten will.—l am, Sir, yours very obediently,
RIGBY- WASON

Liverpool, Jan. 26, 1849.

INDIAN IDOLATRY,
TO THE EDITOR OF THE SUN.
SlR,—The late reverses in India may teach a les-
son which should be attended to. India was not
given to England for the patronage of a few direc-
tors, nor for the enrichment of their graceless nomi-
nees, but for the solemn trust of diffusing the religion
of the Gospel there, and of converting the natives to
Christianity by all prudent and pacific means. So
long as we fall in with the design of the Almighty
for evangelizing India, we may reasonably look for a
blessing on our arms ; but while we send out gover-
nors like the late Lord Auckland, whom I have
shown to have opposed his whole council, in 1840, by
consolidating a large annual money-payment to a
monstrous and bloody idol, whose priests and prosti-
tutes are to this moment paid by British money, we
must no longer expect a blessing on our arms, be-
cause we all know where to read, " them that honour
me I will honour, and they that despise me
shall be lightly esteemed." So long as the
Jews of old answered the end of this Divine ap-
pointment, the idolators of Canaan fell before them ;
but when Israel revolted to the same detestable apos-
tacy, she became like Samson without his hair. It
is not for lack of warning, for above twenty years,
that the direttors have fought every inch of ground
to keep up idolatry in India, believing with the late
Mr. Twining and Mr. Buller, that if we refused to
let " widows burn themselves, and the worshippers of
Juggernaut kill themselves ; we should be driven out
of India at the point of the bayonet !" It was not
till Mr. Grant and Mr. Wilberforce demolished all
this trash in the House of Commons, that our country
became wiser, saved the missionaries who translated
the Scriptures, and finally sent out our own blessed
national Church Establishment, and our Scriptural
Liturgy, and what would Messrs. Twining and
Buller say now, should they awake from their dreams?
I am, Sir, &c.,
AN EAST INDIA PROPRIETOR