The Statesman.
London, England, 1823-01-07 00:00:00

WILLIAM COBBETT, ESQ.
Birmingham, Jan. 2, 1823.
Stn,—ln a late STATESMAN% and in the Register of
Saturday last, I notice a trifling error, which I beg the
fivoar of you to correct. I did not attend the Meeting
at the London _Tavern, respecting Mr. Peas WI.. It
was tho Member for Vallingtos, whom you mistake for
mei and *boss sow has often been mistaken for mine,
more perbape to my credit than his own.
lit the Sivisicsa of the spoils of the landed interest, you
seem not to know, *bat I mean by "the Lies's Share."
Political Power is the Lion's Share. The Jews and the
lawyers are taking the estates and the rents. But the
People will take the Political Power. They will then
bring the Jews. sad lawyers to or strict account. Hard
indeed will be their fate, if they receive the same lodg-
ment, as thefhavi awarded to otters.
have noticed upon several occasions, that you consi-
dcr me as adrestating exclusive!, the restoratioo of the
Paper SYtteas., The amomption is sot quite correct.
Perhaps you will allow me to explain, what I have ad-
rotated/ sal What Istill continuo to believe, about as
firmly as I believe my own existence.
lerom iSIA tp tba present time, not a year bas elapsed,
wishoat itylrariog published either pamphlets or letters,
for tho mirage purpose of proving,—first that to restore
the 'scion Metallic Standard of value would literally
double the National Debt. and every other Dcbt.Vaa.
Tithe, ken:, and monied obligation In the kingdom.--
_ _ _ _

Setiondly, that this doubling el the National Smitten',
would iaevitloblyProduceao much misery and discontent,
as would neiteetaavily folitt to a Revolution, similar to that
of ('sauce,.-Millikettileat it WAS therefore necessary,
either to centimes Ow Paper System for ever, under pro-
per limitation, end obligation. ; or else,—Fourthy, that
it was necessary, to reduce the Metallic Standard of
V•rlne, so as 14 bring down the Value of Metallic Coins,
to the same level of depreciation, as existed permanently
in the actual Currency of the Country ; coining about
ten, of one old Mint Shillings, into a Pound Sterling,
;Weal of twenty of those old Mint Shillings ; or in other
weeds, coittial an ounce of silver into 10s. 4d. sterling,
and an ounce of goW, into ;1.• Lis. 9.1. sterling ; which
being jest double the prices of the Metallic Standards of
1791, would Necessarily preserve that doubted level of
the priees'Of Injeottroand of the products of labour, which
be4me permaneit during the War..
'these four parities, ere visible in my pamphlet's, poled
listed In 19111.ead 1817, led they are still visible lean
mat letters. Even 10%4 :Which you have last inserted
in the SrareswaN, Iltetei eipressly stated, that on the
retina 41. Mee, .coesiderieg 10 *ld blot Shillings to
have been the real Ales of the Pound sterling daring
the Sinsi,ll Noe slillyic tbi Legislature to have coined
bill!, tirglitla sir :ee4epj met' titre old Mint Shillings
Win P Plinitikelerbligt in Ptefereece to rendering it coo-
vettiblil leao 418 of those old !dint Shillings, which is
• felt silditifeirbat the Potted Sterling Wm wietb, es i
tett yitir'e 'mirage, dining. the War. I still thiwkit &so-
-44 *gawp, awl peryietly, jolt and right,. go tadviwn.
thoilletteletbent et tea 41*tillic Standard le't'tuce. jeer
emit, In OraPti•presetv• Are *Honied prices of properly
and labour at that high war level, upon which all the,
obligations of property and labour have been founded;
or to whirl; they have been long accommodated.
1 ore,. :me Aim that these have always been my
viltere, and that-Fads not excinsively a "Paper System
gee." ii.i will perhaps elloir me to trouble you with
the following 'extracts from two of my pamphlets.
Coaclesioo of tar letter so Mr. Vansittart, polo/idled
in illuy,ls7, • ,
"''nese mast hi no hesitation about the price of the
" g • • Whetbrr the guinea passes for 21s. or for iios.
" al teljektoftswimportanCe-atoll. It will not Wore
"
tla
elsithio, 'fl will not injure either public or private
" itedtiori: . list to support life, to promote and secure
el ihir merlin* ty:lfire, is the first, and the last, and the
.''only disti Of thrrlnislature. The guinea was made
o.lor MAL and4ol man kettle guinea. If the increase
obf tholCireithtf:,i IlledisMorhich is necessary, in
,s'orari, NI reefer,
me
and the happiness of
0 man, drOwlir are ire effect of raising the monied
si'ples if tr inetia the legal price of the Guinea
0 Intro be it eed lecriedligly t or the Guinea must be
0 disenfranchised. .lint man must not he cut down in
0 his wants, his uteans,lfs modes, his life, in order to
aecommodate his dlininslons to the Guinea. The
0 great interests of the lotion' must not be sacrificed ; a
...fifth of the Population must not be exterminated, in
g realer to force a mitzinsom upon Gold !"
Extract from a series of Resolutions which I proposed
to the Chamber of COMISMO at Birmingham, and
. which were printed by the Chamber in May 1619. • 1
9th Resolution.—" That it appears to this Chamber,
• that during the Operation of the Bank Restriction
' Act, the general atreeticy a the country has depre.
" eiated to one keg he &enter value, a given sum now
46 commanding net more than one half of the property
" generally, which it commanded before that period;
is built appears to this Chamber, that owing to various
sa eeeseetoippareet depreciatiou„ when compared with
• bellhes,.lllo Not at any time amounted to more than
" 20 or *pee nut., and is at present no more than 3
" yr cent_; bat, nevertheless, this Chamber is of opi•
" nt.r, that any reduction of the prices of bullion to
" the old standard, which may be effected by a ditniewt-
" don oldie circulating medium, will also necessarily
" hate God effect of reducing the prices of labour, rents
" and property generally, to the same ratio as was ear.
is rent before the Imposition of the Bank Restriction
" Act. And this Chamber is further of opinion, that
41 such reduction of the pekes of labour, rents, and pro.
" petty generally, can ooly be effected through the ut-
" most distress and confusion among all 0411111.11 of the
" community ; and when it should be fleeted, it would
" still be necessary for Me Legislature to interfere, and
" to reduce 6y law Me monied birdies, of the National
" Dag, and of all 'Private debts, teases, and engage-
" meats to one half of their present monied amount;'
" and therefore this Chamber declares, that the restore-
" taws of the old Metallic Standard ought uut;to be at-
" tempted, but that such other Metallic Standard ought
s. to be adapted, as may be conforniahle to the present
46 state of prices, nr to such other prices as the necessary
" issue of a circulating medium may render current."
Hers, Sir, is your Nen plan for the redress of the ea-
tool) grievances, laid down upon print, near 4 years
offeyas the inevitable result of that general reduction
riqvices, which Mr. Peel's Bill was certain to occasion.
1, sent my resolutions, 24. in number, to all the Ministers,
and to every influential member of both Houses of Par.
tbsinent. I Alight as trell bare thrown them into a
tiParYi

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