The Statesman.
London, England, 1810-09-11 00:00:00

in which Muck worm pays the money so lent, and
in what sort of money it is that he pays. But, fur
the sake of simplicity in our illustration, we will
suppose hint to pay su real good money, and to pay
the whole million himself at once. Well: what
does Muckworm get in return ? Wby, his name is
written in a book ; against his name is written
that he is entitled to receive interest for a million
of money ; which book is kept at the [link Com-
pany's house, or shop, in Threadneedle-street,
London. And, thus it is that Miickisortn "puts a
million of money into the Fundy." " Well,"
yea will say, " but what becomes of the money?"
'Why, the Government expends it, to be sure
what should become of it ? Very few people bor-
row money for the purpose of locking it up in OJT
drawers or chests. " What ? then, the money all
vanishes; and nothing remains in lien of it but
the lender's name written in a book Y" Even so:
and this, my good neighbours, is the way that
66 money is put into the Fisndt."
Bet, the most interesting part of the transaction
remains to be described. Muck worm, who is as'!
wise as he is rich, takes special care not to be a
fundkolder himself ; and, as is always the case, he
loses no time in selling his stock, that is to say, his
right to receive the interest of the million of
pounds. These funds, or stock, as we have seen,
hsse no bodily existence, either in the shape of mo.
ney, or. of bonds, or of certificates, or of any
thing else that can be seen or touched. They have
being merely in name. They mean, in fact,
right to receive interest ; and, a man, who is said
to possess, or to have, a thousand pounds' worth
of stock, possesses, in reality, nothing but the
right of receiving the interest of a :hansom(
pounds. When, therefore, Muckworm sells his
million's worth of stock, ho sells the right of re.
ceiving the interest upon the million of pounds
which be lent to the government. But, the way in
which sales of this sort are effected is by parcelling
the stuck out to little purchasers, every one of
whom, buys as much as he likes ; he has his name
written in the book for so much instead of the name
of Muckworot and Company; and, when Muck.
worm has sold the whole, his name is crossed out,.
and the names of the persons, to whom ho has •
sold, remain in the book.
And, here it is that the thing comes home to our
very bosoms; for, our neighbour, farmer Green.
hors, who has all his life long been working like a
horse, in order to secure his children from the perils
of poverty, having first begeottised his farm to his
son, sells the rest of his property (amounting to it
couple of thousands of pounds), and with the real
good money, the fruit of his incessant toil and
care, purchases two thousand pounds* worth of
Ivitickworro's Funds, or Stocks, and leaves the
said purchase to his daughter. And, why does he
do so ? The reason is, that, as he believes, his
daughter will always receive the interest of the
two thousand pounds without ante, of the risk, or
trouble, belonging to the rents of holm or land.
Thus neighbniir Greenhorn is said to have " put
two theessed pounds in the funds ;" and thus his
daughter (poor girl!) is said to "have her money
ix the funds," lien the plain fact is, that Muck-
worm', money has been spent by the government,
that Muckworm has now the two thousand pounds
of pour Grizzle Greenhorn, and that she, io return
fug it, has her name written in a Book, at the
Bank Company's house in ThreaJneedle.street,
London, in consequence of which.she is enti'led to
receive the interest of the two thousand pounds;
which brings us back to the point whence we started,
and explains the whole art and mystery of making
loans, and funds, and stocks, and national debts.
It will be very useful to show the effect of this
" putting money in the funds," with respect to the
party who is said to put it in. Idu not know of
any 'duty more pressing upon me, than that of
showing, in this plait' and practical way, what have
beau, what are, and what must be, the consequeoces
to those, who thus dispose of their property; espo. I
cially if they have no property of any other sort.
But, this will be found to belong toanother part of our
subject ; and, as we have now seen what the Funds
and the Stocks really are; as we have blown away
the mist in which we had so long heen wandering ;
as the financial Ark is now no more in our sight
than any veritable box made of deal boards and
nails; as we are now satisfied, that there is nothing
mystical in the words Funds and Stocks, and that,
so far (rem meaning a place where a great quantity
of money is kept, they aro out the name of any
place at ell, nor of any thing which has a corporeal
existence, and are the mere denemsuations, ur names,
of the several classes, or parcels, of Debt, which
the goecrumeut owe" to individuals: in short, as
we have now, let us hope, arrived at a complete
knowledge of the nature and origin of the Faeils,
and the Stocks, and the National Debt, which, as
was bef.)re said, are, in fact, all One and. the same
thing, it h time that we proceed to inquire into their
progress, and to see how that progress is connected
with the increase of the Bank Notes, and with the
stoppage of the payment of those notes in gold amid
'Oyer. To do justice, however, to (his copious
a.:(1 interesting theme, especially when eempled with
what it will be necessary to say 84 to the schemes
fur arresting the progress of t a.bt, will demand
a separate Letter. In the wean crbile, I am, with
perfect siooerity, your Wilend,
WM. COBSIA T.

11;nte Prison, Newgatp,
Th+ifidah Solitember, IN tn.

Yesterday sennight. four ewes and one ram, of
the true Meriuo breed of sbecp, from his Majesty's
flock at t;uslieiu,arrivetlaticaleHall, near Lancas-
ter, the reikidenee of Mr. Stainbank, fur the pur-
pose of himself and Mr. Dunbigifin trying esperi- '
u,ients (in those excellent breed.. 1 hey, with others,
have v.t pretty far North in this country.
NontuAuprom E4ecTioa.-0* Fri.lai last, a
tcsisectable meeting a the inhabitants of this place
was held at th • Town 11411, for the purpose of no.
niinating a p::rson to represent this Boruugh in P4r-
liikuscsit, in the room of their loan Member, the
Uon. Enw %ID OOUVERIS, WhOti WIN. 1114148CiT)
Q( Keltuardi, Esq. was put in nomination, sad re.
wired the unanimous approbation of the meeting.
Ho wtp pr sposc,l by Dr. KKR', and iecunded by
Joe. 11,41. i., Esq. w hen Mr. &NUM T declared
41141 opt 1n4ePe64604 ritteip j 4e4 411,44
ciyaic4cd *444!x7