The Statesman.
London, England, 1810-10-13 00:00:00

WWI

so vast a power. It is trusting the chariot of the
run to Phatton, to confide the lever of society
to a committee of mere merchant% who are the

chief part of their time engaged in 'their own count.
ing-houses, or absorbed in their private concerns;
and who unavoidably, and perhaps without blame,
will be likely to render their influence at the bank
serviceable to themselves, and their immediate conk..
•Inercial connections. I advise, then, as a means of
preventing still greater evils, from the misuse of this
establishment, that it.be placed forthwith nudes the
constant controls) and inspection of a Cominittee of.
Parliament, chosen from among thole blembers,
who are the best acquainted with financial and eco-
nomical subjects; and who possess the highest re-
putation for honour, probity, and independence. •
Genoa, Venice, laird the Hine Towns, were
ruined as commercial states by factitiosit currency,
and by their banks which 'orginiiid and Itipported
it. The power:of creating the sign of *labour, and
of obtaining the use of it by artifiCeend intrigno,•
necessarily depreciates Industry, and einbotries and
organizes speculation and aiontipolfy. Hence* the
present geometrical progieisicin in the nominal Yea-
rue of every cuiliMisdity, and the fatal and irrelcii-
verablc diminution in the relative VIGO of the cur-
rency. It bccontei impOisible to eqient, while-to
advance is irristrievabli destruction: Yet such Is
thesituition of this kingdOni; under the bank:niit's
system ; and the &ease, I fear, San be radically
Cured only by the knife, or cautery!
Old England is, hewever, worthy of being saved
from the perdition into, which the Cupidity and igL
'harem of bank dit4ctors, Ind. paper-nisOey mak ets,
irrould involie it !
Gold and silver arc but the signs of vitialth.
'lank-notes, even when cOnvertilife into these, :are
but the sign of a sign; but unconvertible; they ale
Itatwasta4a'per. List them at kilt pOsseis then this
degree of 'value, and let an 'approach be made i 6
aritioiial solvency, by enabling their holder!: to
'Change them, on deniaisdilor gold or silver. This
. .
would give them a slaw of ialidity, check 'ilnPro-
"Per issues, and answer most of 'the Objeetitins to
them. At present they serve as
,alloy to oar oi tr.
r ency ; worse thin ever lowered the currency of the
most unfortunate people. We have heard of pew.
ter, leaden, and leathern money, but no alloy ever
entered the currency of a:country so low is* that of
old rags!!! Yet such is the currency Ebilkid,
without even the pledge of government to 14.,
port it !
It is important, then, to consider the means
by
which we may be rescued frOm
cation. I would class than setrilloWs:-
1. Let no cottutry-bankers be allowed to lime Curtail, cx'
• cept on security.

apt.
2. Let no inland bills or notes be created, except moor ter.
!sin restrictions.
S. Let the Bank of England pay its notes in gelds `er Mier,
on demand.
4. Let bank discount be made on roil bith, fis wry. Ilse
asking for it, with reference to the validity of the bills only,.
and nut to the name of the holder.
5. Let the Bank Biwa= be Inde;peideut persons, vrbo'dn
not themselves require discount.
G. Let a Parliamentary Board of Controul, superintend and*
check the issues and management of the Bank.
7. Let the private fortunes of t►e Directors and Bank Pro-
prietors, he answerable fur the issues of :rank-notes, or let
them possess the guarantee of Parliament.
Nothing short of these measures, or of measures
answering the same purposes, can save these na-
tions from BANKRUPTCY, and social erioaGANIZA.
VON ; but by applying remedies in time, and with
resolution, our system of finance may outlive the,
events which have rendered it necessary. If it pro. i
seed as it has dune during the last twenty years; the
consequences cannot be doubtful ! •'',
--• COMMON SENSE.
Landau, October 10. 1610.,..

Loch Katerine has been rendered so attractive
since it was celebrated by the Muse of WALTER
• . Scott, that visitors have been flocking thither Nom
. pil qoarterpe. Not fewer than'49o Carriages. fitted
with, company, we arc assured, •filivi.beep,thpre.
. the Course. of the present summer, and. Many of
the persons were obliged to sleep la thena fur wait-
of accommodation in the vicinity.: It is very pro.'
'hable that the neighbourond will *hereafter be
esteemed classic ground, and henep: only probably.
give rise to a swarm of building prOject4nr.
Tuesday night,
:about nine o'clock, a middle.,
aged woman of decent appearance,. representing
herself to be a servant out.of place, made
aiipftca-
tion at Na. 37, itedcross.street, Barbican, for a
lodging, and was kindly taken in, when early, }be'
next morning she left the premises, aftir having.
- (dripped . the apartments of a large • quantity of
wearing apparel, the property of the landlady,
with which she made her escape.. . ,
Yesterday forenoon, about 11 o'clock, a brick.
layer's labourer fell from a 'scaffold at the top of a
house in Gravel-lane, East-Smithfield, and expired
as he was being taken to the hospital.
The last arrivals at Bath are—
Viscount Hood, Lord Glrydir; Lady Charlotte Drummond,
Sir S. and Lady Smith, Gen. Gent, Mrsiand Miss Aplin, Major
Major William-. Bei/teem! Dr. Walsh, Reverend
• Archdeacon aod Lady Phillot, Dr. %Vinson,
Lay ward. Dr. Shine, Rev. G. Wray, Rer. G. Beresford,
Rev. E. Stock, Capt. De Montmollin, Capt. Mods!, Capt.
Purkis, Captain Butter, Capt. J. Eiestace, Captain
Captain Moortmuse,-• Mr. and Mrs. Pievey, Ur. nna Mrs.
Guyon, Mr. and, Mrs. Barker, Mr. and Mrs. F. Willtsford,
Mr. and Mrs. Iliggen-on, Mr. and Mrs. Pidcock; Mr. and'
Miss Lovedens. Mr. and Mn'. Chessal, Mr. and Miss Bayley,
Mr. and Miss Dridge, Mr. Mrs. mid Miss Bawer, Mr. Mrs.
aniFtwo Miss Stringers, Mr. Mrs, and 1.11i,s Ronson. Mrs. and
Mis 4 Rroderip, Mr. Eyinburner, Mc. Sill, Mr. Wilson. Mr.
Archer, Mr. Roger Mr. terrine, M r..Tlminpson, Mr. Goldoni
Mr. !blimp, Mr. H. Read, %Ail. St. John, Mr. Cieaver„Alr.
Becker, Mr. Allen, Mr. Price. r. Grimes, two Mr. BrictOws;
Mr. E.te, Mr. (Witco, Mr. Bolt, Mr. Graves, Mr. J.. Hay;
5,,,111, Mr. Jonrs, Mr. While, Mrs. salishitry, Mrs. R. hied,
Mrs. Spear, Mrs. Auctley, Mr.. Hay Barclay,.
Mrs. Bell, Mrs: Winialia,Mrs. Cameron. Mr... CadoNsiti)lrC
Murray. Milo Junes. Miss Toavvr, Miss C. 'nanny, Miss Tttrol,
M.as l'ittonku, Miss tileacene, Mid Mitchell, dtr. Sr.c.


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