The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1840-07-07 00:00:00

is very important, and embraces a complete view
of the subject. The critique on " Lord Brougham's De-

Simony

mes" does ample justice to that singularly ignorant
tion. The comparison of the eloquence of " Bourda-

loue, Barrow, and Massillon," is exceedingly interesting.
The facts and statements adduced to show the " Spiritual
Destitution of New South Wales," are of a very melancholy
character. " The State and Prospects .of the Jews" are
treated of in an article of great ability. " The Documentary
Annals of the Anglican Church"—" The Present Position of
"—" Naval and Military Chaplains," and
al Report," will amply repay a careful

tcclesias

perusal

Blackwood's Magazine. July, 1840. Edinburgh
W. Blackwood and Sons.

This is an admirable number. The continuation of " Ten
Thousand a Year" was the first article to which we turned,
and amply were we gratified by its perusal. It is decidedly
one of the best tales that we have read for many years past.
If brought out in numbers, with suitable illustrations, it

would, we feel confident, command a very large circulation.
The article on "Style" is exceedingly well written, and con-
tains some capital specimens by way of illustration. " A
Chapter of Turkish History" is a highly interesting sketch.
ssay on " Personification" is a truly philosophical pro-
The author is evidently a man of deep thought and
great powers of discrimination. The review of Alison's
' History of Europe" is very happily executed, and supplies
s with some important statistical details. The notice of

duction

explains some curious
.cter of our continental neighbours. The
)litical article in the present number of Blackwood is
L" Lord Stanley's Irish Registration Bill." It con-

s Julius We

s in the ch.

tains a sweeping exposure of the miserable, shuffling, and
hypocritical policy of the present degraded administration.

Fraser's Magazine,

July, 1840. London

James Fraser,

215, Regent-street

the first article in this number is a curious disquisition on
in which we are furnished with a detailed
The Elixir of Life, or, the Universal Remedy."
has, however, brought the essay to a somewhat
Bondocani" is a powerfully written

Occult Science

' is an agreeable melange, written in a
The article " On Rabelais" con-
tains some very pertinent and original remarks on knowledge
and education. The account furnished by " Brother Pere-

Here or there

cheerful

gossiping style

grine" respecting ", Modern Greece" supplies many very in-
teresting particularS respecting the present condition of that

" A Shabby Genteel Story" has fully re-
alised our anticipations. The chapters in the number before
us will afford a hearty laugh. " A Trip across the Spanish
Frontier in July, 1839," makes us acquainted with some of
the more important transactions of the recent war in Spain.
The conclusion of " Michael Angelo Titmarsh's Pictorial
Rhapsody" is highly amusing. The " Statement by Mrs.
Barbara" forms a very suitable appendage to the criticisms
of the rhapsodist.

far-famed land,

The Colonial Magazine and Commercial.. Maritime Journal.
July, 1840. London : Fisher, Son, and Co., Newgate-
street ; and Liverpool, Hunter-street.
Few periodicals have ever attained such great popularity,
in so short a space of time, as the magazine before us. The
eal, and ability displayed in its various articles have
most universal approbation. We cannot, how-
eccord our praise to the opening article in the present
The writer of " The Past and Present State of the
Indies" is evidently prejudiced against the planters.
all wait for the sequel of the article before we enter
into any detailed examination of its statements. " Justice

won for it

an ably written article

Its contents are en-

to the deepest consideration. The continuation of the
It of " Van Dieman's Land—moral, physical, and po-
,” fully sustains the interest excited by the previous'

supplies several important suggestions re-

g the future management and government of this rising
The notice of " Sicily and the Sulphur Monopoly"
is some excellent remarks on the rise and progress of
)ute between Great Britain and that country. We
en greatly delighted with the observations on the " Co-
on of the Falkland Islands by Convicts." The writer

the dis

led in establishing the great importance of these

ands as a naval station, and has truly shown that they may
considered as the Malta of the Pacific.

he Asiatic Journal, and Monthly Register for British and
Foreign India, China, and Australasia. July, 1840.
London : W. H. Allen and Co., Leadenhall-street.

f affairs in the east this excellent

its important claims upon our attention. Its

ontents will be found of great value in elucidating the state
f affairs in India and China. Its monthly " Review of
:astern News" is a complete summary of oriental intelli-
ence, candidly and impartially written. Th
ourney through France and Egypt to Bombay," from the

Notes of a

furnish us with some very interesting

specting Aden, one of the most recent acquisi-

s of British arm

The " Analyses of Eastern Works"

are very ably executed, and supply some very curious speci-
mens of traditionary lore. " Scenes in Southern India"
abound in characteristic anecdotes. The account of the
unary Proceedings at Bombay" breathes a spirit of
The paper on " The Language and Literature
of the Telugus" will greatly interest the philological student.
lligence from Calcutta, Madras, Born-
Singapore, Siam, Dutch India, Mau-
New South Wales, Van Diemen's

impartialit:

Persia, China,

kc. is exceedingly copious and interesting.

Monthly Belle Assemble'e. July, 1840. London
24, Norfolk-street, Strand.

It is some time since we have been favoured with this
periodical, together with its associates, the Sportsman and
the Farmer's 3fagazine, published at the same office. The
number before us is pre-eminently rich and varied in its
contents. The prints of the fashions will be duly appre-
ciated by our fair readers. The exquisite portrait of Queen
,delaide is quite a treasure, and will be very highly prized by
1 who have any knowledge of the estimable character of
le Queen Dowager. " The Three Distaffs" is a pleasantly
ritten extravaganza. " Jenny Bawn" is a characteristic
" The Death-bed of a Parricide" is a powerful
fraught with moral lessons of the highest import.
'iscelina's Vow" is a capital tale, abounding in deep pa-
_
is a tale highly illustrative of Scot-
ranners and morals. " Fatal Love" has some very
The Fastidious Young Gentleman" is
. " The Flirt" is an instructive tale,
isal of which may do much good. The poetry arid
meow contents of this delightful magazine are of a
superior order.

Irish t

The Brothers

ring incident

a very amusing sketch

The Farmer's Magazine, and Monthly Journal of Proceed-
'cling the Agricultural Interest. London : 24,

t, Strand

There are few works which are entitled to greater atten-
tion than this valuable periodical, and few which are more
criminally deserving of national support. The present num-
ber contains two excellent plates. The first represents a
Devon heifer, a fine specimen of that choice breed. The

iecond represents three South Down wethers, that gained

prizes last year at Smithfield. Both these plates are beauti-
fully executed. The contents of this magazine will be found
of the most interesting nature to all who are engaged in ag-
ricultural or rural pursuits. Among the most prominent
-rticles we would enumerate those on "The Improvements
hich have taken place in the Agriculture of Scotland since
"oration of the Highland Society"—" Common Salt
The Cultivation of Poor Clay Sand"—" Cot-
illotments"—" Sheep Breeding"—" The Comparative
is of Ploughs"—" Animal Oil from Wool as a Manure"
The Census of Agriculture in the United States"-
- ,iug?,—" British Woollen Manufactures"—" Farrow
sg"—" A New Method of Feeding Sheep on Turnips"
Formation of Wool"—" The History of the Horse,"

for Catt

Sportsman. July, 1840. London : 24, Norfolk-street,
Strand.

is one of the most spirited periodicals of the day. Ac-

,ustorned as we have been, during a great portion of our
ives, to the active pursuits of a country life, we always hail
is appearance with delight. In this number there are two
:apital engravings—a portrait of " Little Wonder," the win-
ier of the Derby ; and a characteristic view of " Yachting,"
Hurst Castle. The literary contents of the number are
highest order, The explanations of the plates descry-
iccupy the earlier pages. The account of " The Man-
Weeting" is a highly graphic sketch. " A Story
" The Hound

ar" Is a very stirri►►g narrative

ne interesting particulars respecting dogs

which hunt chiefly in packs, and run by scent. " Angling in
in the best style of our old friend Piscator. " A
-- strongly reminds us of some of Captain Basil
" Seal-shooting in the Firth of Forth"

sketches

contains some very curious particulars respecting a very rare
species of sport. " Life in the Woods" introduces some ac-
count of hunting during the summer months in Nova Scotia.
The current comments on the Races, &c., are admirably

e British Farmer's Magazine. July,lB4o. London: J
Ridgway and Sons, Piccadilly.

This is a quarterly publication of very great merit, the
ontents of which we have always noticed with much pleasure
nd satisfaction. The present number abounds in excellent
The essay on " Manures—their Use and Com-

article

position'

will be found of great value to the practical farmer.
.ng Experiment on the Vegetative Power of
Sea Sand in Morecajabe Bair" merits attention on account
of its singular results. The account of the " Progress of
Agricultural Improvement," from the pen of Mr. Towers,
is an elaborate production. Much good would arise from a
strict observance of the suggestions offered in the short
paper " On Correctly Reporting Experiments with artificial
Manures." The essay on " The necessity of studying the
Science of Field Entomology" treat/ of a subject of great
importance, ansl one which has been hitherto too much
neglected. The "Observations on the Excretory Payers of
Plants," &c. are very curious. The remarks on ". Geology
and Agriculture" show the intimate connexion of these sub-
jects. The paper on " The Arrangement of Country Seats"
offers some valuable suggestions. Under the head of " Facts
and Opinions" we find some important practical directions
on agricultural topics. The continuation of Mr. Donbavand's
" Introduction to Praltical and Economic Geology" will be
read with interest.

The " Interes

The Churchman. July, 1840. London : W. E. Painter

The contents of this excellent magazine are of a very high
character. The number before us has several original arti-
cles of great interest. The paper on the " Ministry of An-
gels" shows deep reflection, and breathes a spirit of fervent
piety. The " Observations on Bishop Burnett's Characters
of Edward the Sixth and of Queen Mary" display consider-
able historical research. The continuation of the essay on
" Popular Superstitions" is extremely curious. The ac-
count of " Christianity in China" is, at the present moment,
deeply interesting, as is also the history of " The Syrian
Church in Malabar." The elaborate critique on the writings
of Lamartine, wader the head of " Sketches of Continental
Literature," will amply repay the trouble of an attentive pe-
rusal. There are some striking facts adduced in the " Testi-
mony relating to the Early English Church." The answer
to the Earl of Fitzwilliam's letter on the Corn Laws is a
• masterly composition.

The Village Churchman. July, 1840. London : W

Painter

This cheap little periodical is an excellent ally to the more.
learned and expensive productions which emanate from Mr.
Painter's press. it is calculated to be of great service to the
labouring classes. This number contains much interesting
" The Pious Churchman's Sunday"—" Church
-" Popular Objections against the Church of Eng-
" Hints on Popery"--" Church of England Socie-
' The Bible," and "The Liturgy," are some of the
most prominent and instructive articles.

matter.
Bells"•

The Hand-Book of Health, or How to attain Old Age,
being sure and simple Remedies for the Preservation of
Health and the Prevention of Disease. London : C.
Mitchell, Red Lion-court, Fleet-street.
This is an excellent little manual, explaining the grand
and primary laws of nature and medical philosophy for the
preservation of health and the prevention of disease.—
It abounds in salutary advice on the subjects of temperance,
cleanliness, air, exercise, change of scene, occupation or
amusement, dress or clothing, and the incipient symptoms of
disease. Its maxims of diet and regimen will be found of
great value.

Reprint of the Lord Mayor': Sympathy towards the
Destitute, unpaid British Auxiliaries, who assisted to place
the Queen of Portugal on her Throne, and to prevent the
' Dethronementof the Queen of Spain. London : Gardiner
and Son.
This pamphlet contains a complete exposure of the in-
famous treatment experienced by the British Auxiliaries in the
recent peninsular wars ; and fully proves the perfidy of the
Portuguese and Spanish Governments.

The Illustrated Shakspeare. Part 15. London : Robert
Tyas, 8, Paternoster-row.

This part contains the conclusion of Hamlet, and the com-
mencement of Climbeline. In every respect it fully justifies
the praises universally bestowed upon the earlier numbers.
The illustrations are as quaint and spirited as ever, reflecting
the highest credit on the artists. The notes on Hamlet are

exceedingly copious and intercstiiig

Asmodeus,from the French of Le Sage. Newly translated
by Joseph Thomas. Illustrated by Tony Jobannot. Part
3. London : Joseph Thomas, Finch-lane.
The embellishments to this new translation of Le Diable
Boiteux are of a very superior order. The artist appears to
have entered deeply into the humour of the author. Respect-
ing the literary merits of the work it is scarcely necessary for
us to say anything further than that the translation is highly
creditable to Mr. Thomas, the spirited publisher. We anti-
cipate for this work, as it proceeds, an extraordinary degree
of popularity.
Report of Messrs. Peck and Price respecting British Guiana
and the Isle of Trinidad. London : C. Richards, 100, St.
Martin's-lane.

This pamphlet contains the result of the investigation en-
tered into by Messrs. Peck and Price, who were appointed,
at a meeting of the free-coloured people of Baltimore, held
on the 25th of November last, delegates to visit British

Guiana and Trinidad, for the purpose of ascertaining the ad-
vantages to be derived from the emigration of coloured peo-
ple to those colonies. The report is highly favourable, and
speaks in glowing terms of the climate, soil, government, and
general advantages of those places, as well as of the H'eat-
ment of the free labourers.

TO PUBLISHERS

As the LIVERPOOL STANDARD hes a very extensive and in-
fluential circulation among the Clergy, Gentry, Merchants,
and Manufacturers, in Liverpool, Manchester, and the
surrounding country, it will be found a peculiarly eligible
medium for advertisements of new publications, works of

arts, &c., &c

CONTEMPORARY PRESS.

CHURCH DISCIPLINE BILL
_ (From the Times of Friday.)

We have before inserted remarks from correspond-
ents on the subject of the Church Discipline Bill, and
therefore admit one deserving of attention to-day.
With respect to our opinion on this matter, we may
say, that the primary motive for bringing in such a
bill was to relieve bishops from the enormous expense
to which they were subjected in the prosecution, and
removal, if necessary, of immoral clerks. That, there-
fore, was the chief point to be attended to; and if the
avoiding of expense be positively effected by the pre-
sent bill, it has the chief merit which was sought for.
In looking over our correspondent's remarks, and com-
paring them with the schedule of the bill which we
have before us, we observe that what may be called the
contentious part of the suit begins only at clause 12.
Up to that point the proceedings in the Bishop's
Court, if any, must have been acquiesced in by both
parties, the accused and the accuser; and no man will
have a subsequent right to complain of the decision of
a court before which it was prievously optional with
him to be tried or not. By clause 12, indeed, the Bi-
shop may either irresistibly hear and adjudge the cause,
with the assistance of three assessors (a barrister and
two of the clergy), or he may remove it by letters of
request to the Court of Arches. In 19 cases out of
20 we have no doubt that the latter will be the course
adopted. From this Bishop's Court there is an appeal
to the Archbishop; or, if the cases commence there,
from his Court of Arches to the judicial section of the
Privy Council. It would have been obviously better,
therefore, to have gone at once to the Court of Arches,
and then the case will stand simply thus :—An accused
clerk may appeal to his diocesan, and say, "My Lord,
you shall judge whether this charge against me be true
or not; and if it is, I submit to your judgment ;" or
he may go without any intermediate stept to the Court
at Doctors' Commons.

That it is better to drop that intermediate court is
also clear from other causes. Suppose the clerk
charged be a son or nephew of the bishop, can the
court of a diocesan thus circumstanced be put in mo-
tion ? Obviously not.. And if, as our correspondent
justly suggests, the bishop has the right of presenta-
tion to the living of an ousted incumbent, can he be
the judge in that case ? Obviously not again. Or will
lay patrons submit quietly to the deprivation of a rela-
tive—a son or nephew—by such machinery as the Bi-
shop's Court, with its assistant barrister and two cler-
gymen ? No. We, therefore, for our own part, see
no use in this intermediate court. The bill went
through a committee last night, and is to be reported
on Monday.

Number of emigrants arrived at Quebec during the week
ending
the 6th June, 1840—Prom England, 832 ; Ireland,
2.165 ; Scotland, 59 ; Lower ports, 7--Total, 3063.

DIVING" OPEILATIONS.—The corps of divers under the
command of Captain Mosley, R.N., which was announced a
few weeks since, in the Constitution, as having arrived o
harbour, for the purpose of instituting inquiries in the " 3 deep,
deep sea" relative to the loss of the Havre, left Cove one-
turday for London, to report the progress made in the ex-
amination of the vessel. The apparatus used on the occasion
remains in Cove, and it is expected that the scientific persons
engaged will
smartly return to resume operations. The re-
spit of the inquiry has been kept a profound secret, as also the
the sav
description or the various articles which they have taken from
, so that it is impossible to say.whether they have
been ei
successful in the object of their mission. In the course
of th •
eir search after the Havre, a curious circumstance came
to light. The divers on examining the bottom of the sea
anchor. Directingtheythey
aeee believedrdingtl
yo
poles came in contact with a heavy pro-
covered to be a cannon,oahunieddhraisedhave
t
their attention to the object, it was dis-
proved to be a long 9-
bore of four inches. Tfie nrn er, nine feet in length, with a
was eaten away, but they loweruzzle or upper part of the gun
sand was in good preservation,and
which lay buried in the
the King's "broad arrow." The dcthereon was very visible
to Cove and is now lying on the strand.
don has been brought
have belonged to the Britannia, a vessel sailing is supposed to
ters of marque, which was blown up aboutiin3g under
" let-
near the spot where the Havre went down. Thes years since,
accident
believed to have occurred in consequence of the carelessness
was
of the cabin boy, in going into the magazine with arelesness
a lighted
candle. The divers were also engaged by the gessrs. Mur-
phy to examine the mast at Ballymacotter head, with referenee to the loss of a sloop, laden with porter and hides, bound
for Youghal, wrecked about three weeks since, on which oc-
casion every soul on board (four in number) perished. The
sloop went down close to the shore, and, though the divers
matte the most minute search, not a trace of the ill-fated
Vessel could be discovered. It is presumed that the casks of
porter, being buoyant, drifted the vessel into deep water, but
in what direction it was impossible to discover.—Cork Con-
stitution.

BANKING

TO THE PEOPLE OF GREAT BRITAIN

DINBURGH, JUNE 18, 1840.—1 have lately addressed you
on the subject of the protection of agriculture, and I believe
with approbation.
I now to speak of what is termed Banking ; and my reason
is, that after patiently reading the vast variety of essays upon
this subject, and considering the various hints given of the
proceedings of the secret committee of parliament, I have
come to the conclusion, that the subject is not understood,
not in the slightest degree understood ; and that every fresh
layer of speculation, is only burying it deeper.
What is wanted in this case is, first, A PRACTICAL KNOW-
LEDGE OF THE SUBJECT; second, a habit of thinking upon
political subjects generally, and above all, of writing, which
is the test of thought ; and lastly, some clearness of head,
and faculty of expression. I happen to possess the two first
requisites from accidental circumstances. The parties I now
address will speedily be enabled to judge whether I possess
the last.

BANKING, as it is called, is nothing mysterious ; but
strange to say, the name is as absurd as any opinion that has
ever been broached about it. Money-changing is its origin,
and money-changers must have been coeval with the first
trading of one state with the other. In Judea the money-
changers seem to have sitten even in the porches of the
temples. They are a caste in India still, and still at little
benches. In Italy the same custom prevailed at first, and in
Italy a bench is called a bane; and hence the origin of the
term banking ; that is to say, doing business at a bench.
LENDING MONEY upon PLEDGES WaS evidently soon com-
bined with money-changing ; and this is another step in what
is termed banking. That as a public business seems to have
come from Lombardy to Lombard-street ; as the blue or gilt
pills still borne in the arms of the MEDICI, the great Florence
Physicians, and afterwards money-lenders, are still seen over
the doors of all pawn-brokers, or money-lenders upon pledges.
Up to this point, the issues of the money-lenders, were always
in coin.

It was in Holland that the circulation of paper first arose,
and this from accident. The people finding it dangerous to
keep specie in their private dwellings, deposited it in the
town-houses, under the care of burgo-masters or magistrates,
taking their receipts for the amount. These receipts soon
began to pass from hand to hand, and even to be transmitted
to a distance. They were found so much more safe and
portable than money, that they speedily began to bear a pre-
mium ; the difference, namely. began the expense of trans-
mitting them from one quarter to another, and bullion. This
is the third step in banking ; issuing and transmitting an
accredited obligation in place of money, and this obligation
deriving its credit, from being an acknowledgment for
money. _ _ _

The fourth and last step in banking was, issuing the obli-
gations of persons of CREDIT, without the intervention of
money; that is to say, obligations for which no money had
been deposited, but proceeding from persons who were sup-
posed capable of judging that those to whom they lent their
obligations were solvent, and that through their solvency the
banks (as places for transacting money matters were now
termed), would be solvent also. This is the fourth and last
step in banking, and it is evidently 'a great one ; in so far as
it economises the use of actual currency or bullion in the
carrying on On of transactions, and makes a bill of exchange
(as bank-notes are), equal to the gold or silver token ; and
this bill of exchange often testifying only an exchange of
credits, instead of commodities.

A. mixed measure of great importance has arisen in con-
currence with these, namely, the depositing of money in
banks by persons who do not in the meantime require it, that
it may be lent to others who do require it. This also leads
to a great economy of capital, and multiplication of its
power; for it renders every portion of the capital of a dis-
trict, at all times available. In Scotland it is usual to obtain
interest on such deposits, though always less than is obtained
by the bank. The difference between the interest paid and
charged, remunerates the bank for the trouble and risk of
re-lending, and the depositors become in reality sharers in
the profits of the banks. This facility is of great use in two
ways enables a capitalist not desirous of great activity,
still to derive something from his capital, without lending it
permanently out; and it enables persons of industry and
judgment, but wanting in capital, to get into the field of pro-
fitable industry, without crowding it, and after a time to retire
in like manner, to moderate profits with reduced risk. It
was necessary to say this much, to bring all the points into
view that may hereafter require to be referred to ' - and
from this it will be seen, that the uses of what we term bank-
ing, are—

Fii-st—To facilitate business, by the exchange of the moneys
of different countries, or of the obligations of different in-
dividuals, for something that will circulate where business
is to be done.

Second—To eject payments at a distance, with ease and
safety, by means of accredited obligations,—commonly
called letters of credit, or of exchange.
Third—To increase thepower of capital,—b; bringing it into
deposit in known places, and where the use of it may be

obtained, on terms that are known.
And, lastly-7'o economise the use of BULLION, as the re-
presentative of capital oracquired property, by substituting
therefore an accredited circulation of paper.
These are the uses, and ALL the uses of what we term
banking, and, though few, they are obviously very important.
I do not intend to go much further in the way of explana-
tion. It seems only necessary I should show that I under-
stand the subject. But as it has been said, that the com-
mittee of parliament were engaged for three days, in consider-
ing whether deposits in banks, were to be considered circula-
tion, I may be allowed as many minutes to clear up that mat-
ter, and to show generally what circulation is.
Every thing that circulates property, is pro hac vice, circu-
lation :—A bank note, a bill of exchange, an exchequer bill,
or any other document of public or private debt, an ingot of
gold or silver, or any other valuable metal—a jewel, &c, all
are circulation, f they are received, and circulate property.
But if the gold and silver, or the jewel, has been turned into
articles of use, or the circulation is effected by exchange of
commodities in use, or for use, the transaction is termed
barter.

Again—nothing can be termed circulation that is not in
use as circulation. Even gold and silver coins, deposited in
a bank. are no more circulation while so deposited, than if
they were again returned to the earth. But if they lie in the
bank, ready for circulation, they are a power of circulation.
But nothing is actually circulation, that it is not daily and
hourly required in the transactions of the State. The amount
required for this, forms the circulation of the State, whatever
may be its character; whether it be in bullion, bank notes,
bills of exchange, or bartered commodities. DEposrrs of
PROPERTY may be termed CAPITAL ;_ and if accessible for
use, it is, as I have said, a power of circulation; but it is
no more circulation, while out of use, than manure deposited
is manure—till applied to the field.
If it is possible, therefore, that the committee of parlia-
ment, and their witnesses have been employed for three days
in considering whether deposits are circulation, it is clear
that they have beqn considering in that committee, what they
ought to have considered at home ; and have only been en-
deavouring to instruct themselves, instead of being in a situa-
tion to instruct the country. And gentlemen acquainted with
HORACE should remember, that he has not written anything
more true than this :

Si me intelligere velles,
Ante omnia necesse est, ut—

Tu ipse intelligas

I must now consider all the collateral views of this subject
to be understtood, as I have fully studied them, and I think
understood them ; and if from what I have said, the public
shall be of opinion that I do understand them, they will in
the mean time receive from me the following propositions,
as proper and necessary to be adopted, for the regulation of
this very important matter.
•
First, of what should NOT 82.

There should not be A SOLE BANK OF ISSUE. It is true
this has been proposed even by Chancellors of Exchequer;
and it is still, I believe, strenuously contended for by the
establishment that hopes to be instated as sole source of cir-
culation, and seriously meditated by persons looked up to as
statesmen. But if this is contemplated by statesmen, it is
proper to say at once,' they are very ignorant statesmen. It
would no doubt be very profitable for any bank to have two
per cent. on the whole paper currency of this kingdom ; but
it is exceedingly impudent to expect it, from the following
considerations among others :—First, from its excessive
amount. Next, from its presupposing that the FORTUNES
of the WHOLE KINGDOM should be trusted to the paper ob-
ligations of a few men, elevated into bankers, from the ex-
tent of their capital and not of their capacity ; who would
thus become responsible for the prudence of all the banks in
the kingdom to whom they might lend their currency ; and
who, by seeking this responsibility, in addition to a respon-
sibility already excessive, show that they are very imprudent
themselves. But lastly, and yet more particularly, because
their avowed object is, to regulate the whole proceedings of
the kingdom in matters of trade:—And how? By regula-
ting what they term the exchanges. Now, it is impos-
sible to enter into the briefest explanaton of that subject, in
this place ; but the idea is certainly the very height of ab-
surdity; and its effects would be, the moment we had ac-
quired more money than our neighbours, as compared with
our wants, to cause us to throw that money away ; and the
moment we had less in proportion to our wants, to cause us
to throw our property away, to seek more money, merely to
bring what they term exchanges to a par. It would be sys-
tematically making a trade of the instruments of oxide, and
without the least necessity. The Brentford tailor.= horse-
back, whipping and spurring and curbing, all at the same in-
stant, would be but a slight type of this sole regulating esta-
blishment ! But, though the madness of the tailor may be
ludicrous, there is something serious in the destruction of the
horse : And we may rely that such would be the fate of this
country, under the tailors of Threadneedle-street, were they
installed as they have the modesty to desire. The power
they already possess, has, according to the Manchester mer-
chants, repeatedly caused fluctuations in the value of pro-
perty to the extent of thirty per cent !—and were the
country placed at their feet, as they desire, there would
be no limit to their power, but in their own discretion.
No sovereign that has ever lived, has ever possessed a power
equal to what would be the power of a sole bank of issue, or
even its meanest director.

Second, There should be no UNLIMITED ISSUES, by BANgs,
HOWEVER NUMEROUS. We see the consequence of this in
AMERICA ; where the circulation of banks is almost as much
depreciated, as the assignats of the most profligate govern-
ments. RICARDO has said, " experience shows that neither
a state nor a bank has ever has the unrestricted power of
issuing paper money, without abusing that power." It
would be exceedingly easy to demonstrate, that the checks,
as they are termed, that have hitherto been devised, are
nearly nominal in every view ; or, if they may in some de.
gree save the banks,- they are even pernicious as the public is
concerned, by tending to strip the failing bank of all its
ready funds ; that is, to carry PREFERENCES to the extent of
the last ready penny.
Third, There should be NO ISSUES AT ALL, WITHOUT
WELL DEVISED SECURITIES. The propriety of this regula-
tion is self-evident.

And lastly, As the privilege of issuing paper currency,
however secured, is a privilege to COIN, in a substance of no
value—a privilege not granted either to the STATE, or to the
KING in this country, it is clear that the State should be re-
munerated for this permission to individuals ; and for the
trouble of superintending and guaranteeing the system.
I will give my views of the mode of regulating and distri-
buting the currency, so far as in paper ; of making the banks
entrusted with supplying it, at once independent and safe; of
remunerating the country for permitting and guaranteeing
this species of currency, which at once economises and cre-
ates capital, and accelerates industry ; and I will do this in
a very few, and clear, and simple propositions ; self-acting,
and of self-evident utility.
In the
considered
ma tt
BANKING,
mc eobAalylxnaitDtti
Collateral
aTel
itself,
Is(ic
jautssbri
ests
ct;
toslaunghadia
attach
anect
hogt
that
vabtethenei3maa
vsiveteelirvssyehasoc,wlveenaarnr,ydtvhsi
simple
matter. pa olli
e-ff
lowed, may complicate the individual subject to any extent.
But this ought not to be allowed ; and never will be allowed,
where the subjects are understood. They are collateral but
not identical. D. BAIN.
will give the regulations I propose in one week.
In the meantime, I hope this preparatory paper may be pub-
lished as generally as possible.

Freeman's Jour-
AN IRISH CALCULATION.—The weekly
nal, in reference to a dispute as to the sole right of fishing in
the Shannon, claimed by a lessee under the corporation of
Limerick, says, " should the plaintiff succeed he will be bene-
fitted £3,000 a-year; on the other hand, it is stated, that
2,500 individuals, who now obtain their living by the fisheries
ojouftheren, Shannon, will, in that case, be deprived of their means
of subsistence." Ergo, 2500 individuals exist on £3,000 per
Nrrnial,NVell ma this veracious or 245. per annum each. There is no exaggeration
print be called the Freeman's
aoShannonwhen it can deliberately make it appear that 2,500
shann
fishermen's only means of existence are under one
penny per day,

THE CALENDAR

(From the Saturday Magazine.)
1.. Golden Number
2.. Epact
3.. Solar Cycle
4.. Sunday Letters
5.. Roman Indiction
6.. Number of Direction
7.. Julian Period

E&D
13
29

The terms used at the head of this paper are usually the
Chronological and Common Notes of the Almanac or Calendar.
The Calendar is an adjustment of time, according to rule,
for the use of society. The term " Calendar" is derived from
an old classic word implying to call, from the circumstance
of the Pontifex Maximus, the head of the Roman priests
proclaiming, on the first day of the month, the date of the
appearance of the new moon, and the festivals to be observed
during the month.
In the early stages of society, the progress of time was es-
timated by the courses of the sun and moon ; the former
marking out years, seasons, and days ; and the latter months
and weeks.

But, it has been most difficult to determine with accuracy
the month and the year; since the revolution of neither the
sun nor the moon is completed in au exact number of days.
To reconcile the revolutions of the sun ar►d moon, with the
common account of time, and to make them agree with each
other, was the object held in view upon reforming the Calen-
dar on the following remarkable occasions :

I. L Julius Cmsar being convinced by the Greek astro-
nomer, Soigenes, that the year then employed was too short,
and that it could never be properly settled but by referring
it to the apparent annual revolution of the sun, and finding
that about ninety days had been lost by the old reckoning,
made the first Julian year to consist of 444 days, which was
in consequence called the " year of confusion." This year
was thus made to terminate at the proper season. The fol-
lowing years with the months, were then adjusted nearly as
they are at present, and as the year was from that time made
to consist of 3651 days, a day was inserted every fourth year,
between the 6th and sth of the Calends of March, (which
days answer to the 24th and 25th of February ;) so that the
6th day of the Calends of March being repeated, there were
accounted to be two sixth days of the Calends of March, and
the day thus inserted was named bissexlus dies, or the double-
sixth day ; whence we call Leap-year, in which this addition
is made, Bissextile. _

11. But as the year does not consist of quite 3651 days, it
was found in the sixteenth century after the birth of Christ,
that the civil year was ten days in adyance of the course of
the sun. The Calendar was, therefore, again corrected by
Pope Gregory the Thirteenth, A.D. 1582. This, which is
called the new style, was adopted in England, A.D. 1752.
The regulations assumed in this second reformation of the
Calendar, are such as reckoning from the 16th century, will
make the civil years and the course of the sun to differ after
the lapse of 4000 years, only to the amount of one day .f
The notes given at the head of this article were the ele-
ments employed in the correction of the Calendar; and we
proceed briefly to explain :-
1. The Golden number is the number which any given
year holds in the Lunar Cycle, which is a period of nineteen
years, at the lapse of which the new moons take place on the
same days of the same months respectively as at the com-
mencement of the cycle. Therefore, while the sun performs
its annual course nineteen times, those of the moon amount
to 235. The importance of this discovery iu the regulation
of time was held to be so great, that the rule for ascertaining
the year in the Lunar Cycle was inscribed in letters of gold
on a tablet set up in the market-place of Athens, in Greece.
Hence the term Golden number. The rule is given in the
Calendar which prefaces the Church service.
2. The Epact is the number of days over and above all
the complete courses of the moon, for any number of years,
in any part of the Lunar Cycle. Hence, it is the moon's
age at the beginning of any year; that is, the number of days
which have elapsed since the new moon in the .preceding
year.

3. The Solar Cycle is a period of 28 years, which, owing
to leap year, must necessarily pass round before the days of
the month can return respectively to the same days. of the
week as at the commencement of the Cycle. •
4. The Dominica! or Sunday Letter is one of the first let-
ters of the alphabet ; which letters are used to denote re-
spectively the days of the week, and one of which letters must
of course fall to the Sunday throughout the year. But owing
to the leap year, their order is every fourth year disturbed;
so that the Solar Cycle must pass round before the letters can
fall respectively to some days of the week/ The present be-
ing leap-year, there are two Sunday letters ; the left-hand
letter is used till the end of February, and the other till the
end of the year.

5. Roman Indiction was a period of fifteen years appointed
by the Emperor Constantine, A.D. 312, for the payment of
certain taxes from the subjects of the empire.
6. The Number of Direction. It having been decided by
an assembly of Christian bishops at the Council of Nice, in
Asia, A.D. 325, the Easter Day is always " the first Sunday
after the Full Moon which happens upon, or next after, the
21st march," it follows that Easter Day cannot take place
earlier than the 22d of March, or later than the 25th of April,
so that from one date to the other (both inclusive) are 35
days. The number of direction is that day of the 35 on which
Easter Sunday falls.

7. The Julian Period cpsists of 7980 years • which is
produced by the multiplication into each other of the Solar
Cycle, the Lunar Cycle, and the Roman Indiction,
(28 x 19 x 15 = 7980). This period is reckoned from 709
years before the creation of the world, when the three cycles
are supposed to commence together ; which circumstance
cannot take place again until the lapse of the entire period,
A. D. 3267.

The Roman Indiction and the Julian Period are not now
of practical use in the calendar; but the other observations
will serve to assist those who wish to understand the calen-
dar, which is prefixed to the church service, in the prayer-
book.

RHUBARB WINE.—Let the stalks be at least of full
growth, cut them in pieces into a pan, pour boiling water on
them, and macerate till soft, but not into a pulp ; let them
stand till next day ; strain and proceed as for gooseberry
wine ; with respect to proportions, about one-third more by
weight than of gooseberries. It is aperient, but mild.—
Mau. of Domestic Economy.
THE SPEEDWELL MINE, CASTLETON.—The guides hav-
ing arrived, we proceeded, through a small spar-depot, to
descend one hundred and six steps ; and, at the foot, were
handed into a deep-sided, but rather narrow boat, partially
extending from the mouth of a tunnel just wide enough to
admit the same, and of sufficient height from the water to
allow of our sitting erect. The guide and his assistant then
pushed us along in a straight line for the distance of 750
yards ; one of them now and then leaving small pieces of
lighted candle on each side at transverse angles, which pro-
duced a very pretty effect. When our boat accidentally
struck against the flinty side of this excavation, the noise
resembled distant thur4er. On stepping out of the boat, we
found ourselves in an immense cavern, called "The Devil's.
Hall ;" said to be 300 yards from its base to the surface of
the earth ! The guide told us, that rockets had proved the
cavern alone to be 150 yards high ! To convince us of this,
he ascended, by means of ladders fastened in the side, to a
great height, where he placed on a projecting or table rock,
what in excess of modesty was termed a " Bengal light,"
whose lurid influence enabled us to gaze on naught but wide
interminable space ! Yes, as incredulity melted away, w
were half inclined to believe the truth of his assertion, partly
on account of the vast distance the eye is enabled to wan-
der amid the loftier parts of these demoniac regions. Being
early in the morning, we had a clear cavern ;—an advantage
not to he expected later in the day, after the more fre-
quent discharge of sundry " blue lights," whose murky
exhalations, of course, naturally tend to obscure—what I,
under favourable auspices, was very far from being able to
discover—this high and solitary hall's inexplicable roof! The
general effect is much heightened by thundering sounds of
the grand cascade, which, after rushing with terrible impetu-
osity along the side of this cavern, passes on to Peak's Hole;
a cavity of the earth, stated by miners to be without bottom!
One reason for making so bold an assertion is this. All the
stone cut from the tunnel already alluded to, together with
several thousand tons of other rubbish, had been thrown
into that endless chasm without producing any visible effect,
or ascertainable alteration ! The guide said he once de-
scended, by means of ropes, 80 or 90 yards lower than where
we stood, and afterwards sounded 100 more, without observ-
ing the least obstruction to the plummet ! Any person
believing the generally given account of the depth of Elden
Hole will be more prepared to admit the truth of so extraor-
dinary a declaration. The noise of the water bursting over
the higher parts of the rocks, on approaching quite close, is
almost astounding. It may be as well to mention, that strong
rails are placed to prevent strangers falling into this fearful
abyss, which is a very proper precaution. There is certainly
no cave in the Grand Peak Cavern anything near so high as
" The Devil's Hall," in Speedwell Mine ; although the latter,
if contrasted generally, must fall short of the former as an
object of wondering admiration.—Sketches in Derbyshire.