Star.
London, England, 1820-08-03 00:00:00

hatke the wages of labour, mil consequently dimi--
nish the profits of stock t• but impose heavy dutietoo
articles of luxury, which will form no part of the
consumption of the lsthoureroand'*hicb cannot, them.
Jere, afoot the rate of profits outatock. It appears
to us, that Kr. Ricardo*, argument isiustificieut, b..
cause it is the general interestof the Public that every:
article of our consumption, whether necessary or ,
luxury, should be procured at as little espense as
possible. If one man's labour employed on cutlery
in England, will in France exchange for as much
silk goods as can be produced by a price equal to two
men s labour in England, is not the public loss the
same, by employing 100,000 men in the silk manu-
facture, as if thescloo,ooo men had been employed
in raising grain, which could have been procured from
Poland at half .the price at which it can be grown
in Britain ? In both' cases the labour of 30,000
men would have been lost to the Public ; but in the
one case that loss might have been compensated, by
the security which it afforded to the permanent sub-
sistence of the people; while, in the other case,- we,
do not see what compensation is held out to the Pub-
lic-in return for so seriousa loss. Let it not be said,
that Isy this means alone
.the rich and luxurious can
be taxed ; such a reason cat; only be applicable where
the rich and luxurious have an exclusive influence in
the. Legislature, and where, in consequence, they can
seldom be brought to agree to tax themselves directly.
In 1813, the property of all descriptions in• Great
Britain and Ireland, exceeded, at the most moderate
computation, 4,00() Millions; two per cent. on v.shids,
would have yielded no less than 30 millions of ael„
nual revenue.. The interest of the public debt
amounted to about 30 Millions ; 10 millions -would
have been sufficient for' a peace establishment under
any reasonable Government, which rested on the
choice of the People, not on the influence of patron
age; and it would have left 40 millions to be annu-
ally applied to the reduction of the public debt.—
Restore the circulation to what it was in 1813, not
lby a new restriction on the Bank, but by an ahem-
' tion in the standard of the coin r_ and the property of
the kingdom would still approach to 4,000 millions;
two per cent. on capital would be as small a deduc-
tion from the profits of stock, as at present exists in
most other European countries; it is such as no one,
who employs his capital in industry, would grudge
to pay, if relieved from all other burthens ; it us sin
as all our Colonies would be willing to pay for a free
trade with all the world, .for the protection of the
mother-country, and for the entire management of
their own affairs; and this tax on the Colonies would'
furnish another 10 millions at least, to be applied to
the discharge of the public debt. But public debt
will never be discharged by a bad Government;—
whatever revenue comes into their hands, beyond the
exigencies of the &lap,. will be squandered in bribes to
the betrayers; or in pay to the coercers of the People.
" Our advantages," say the Reviewers, " from po-
sition, from coal-mines, and from the industry, skill,
and energy of our people, are so considerable, that,
were it not for unwise laws, and over-strained taxation,
England, for ages to come, might continue the great
-workshop and emporium of the world. There is
nothing appalling in our situation, except the want
of wisdom an our Rulers: We cannot but congra-
tulate the People of the United Kingdom, upon this
open exposition-of the principles oithe Whig party,'
as detailed in the article under revieK by the mow
eminent thedrists of a most theoretical, faction. A
great proportion of the People have.tureed is disgust.
from the subornation • of- crime, from the demorali-
zation of the Spy system and from the scenes of
blood which have been lately exhibited, while one
party has had the welfare of the Nation confided to it.
We have now an outline of the priociples, on which
the next greatest political party in Parliament intend
to govern, should they come into authority. Between
these parties, there seems only to be offered to the
People, on the one side, individual proscription and
general oppression ; and on the other, the conversion
of our country into a great workshop, dependent for
our daily subsistence on our capricious customers.--.
Which of these alternatives is founded on the greatest
degree of wisdom, we shall not presume to decide;
but we hope, that at no very distant period, the irre-
sistible power of public opinion will cause the rejec--
don of both. There has recently been exhibited, by
the People of England, a temperance, a calmness, .a
forbearance, and a knowledge of their political right,
which cannot long be resisted by corruption, by so-
phistry, or by military power. To that, and to that
only, we lock for any permanent or considerable
amelioration of our system of Government.

THE EVENING STAIt.

LONDON.' .

THURSDAY, :AUGUST 5,.1910.

1 • THE- MIND& .
Pitlet Of STOCKS 11111S-IMV A? Oat OS**
per Cent. Reduced 69169
S per Cent.. Cons. 68% yis
Si, per Cent. 7794 3/4-4 per Cent. 87 Y 4 1,6 34
5 per Cent. MIA 34 ye-
° Long Annuities 18 1-16 1/2
India Stock 117 218

.: ... .

India Bends 221. 235. pre.
New Annuities 68%
Exch. Bills, Ss. Ss. 4e. pr.—Omnium 1/s dis.
Cons. for Acct. 68% }fi