Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-05-27
POLITICAL.
mr.. COBBE7T'S
TAKING LEAVE OF HIS COUNTRY

Concluded.
Liperpool, MarcA %, 1917.


\ Conciuded
liverpool, Ifarch %, 1917.
Ny BELOVED COUNTRYMEN,
The great question now to be DEFER
mined is, WHETHER THE BOROUGH
MONGERS CAN CARRY ON THE
MILITARY d SUSPENSION SYS-
TEN AFTER THE FUNDING SYS-
TEN is DESTROYED-This system,
this order of things, an immense stand
ing army, with corps OF Yeomanry esta-
blished all over the country, with the press
under the superinteudance of the magiS-
irates, and with the personal safety of ev-
cry man taken from him: this system !
call the Boreagkmong't'' system, 1t having
been notoriously adopted a, ORDER TO resist
| and crash the petitioners for parliamentary
reform. Now then, am quite sure than
the funding system cannot last long, am
quite sure of that. | know it with little
less certainty than know the winter will
follow the next summer. Itmay last two
years, perhaps, and it may not expire
wholly before the end of three or four
years but defy any measures, any pow
er, or any events, to save ii from destruc-
ton at the end of a fewyears. The ques-
ton therefore is, not Dhether the funding
system wiU be destroyed; nor is ii a questi-
on, whether the boroughmongering sys-
tenn will continue as long as the funding
system continues for am convinced
that 10 wiH, seeing that it appears to me
impossible to carry on the funding sys-
TEN any longer without the boroughmon-
gering system. But the grand and Uitat
question is, whether the Boroughmonger-
ing system cGs, support Itself amidst all the
npyoor aud turmoil Of the 6reak'mg mp ofthe
funding system; and whether it can so on
country. This is the great question, my
countrymen, upon which you have TO ex-
ercise your judgment. This is the cues
ton, the solution of which will determine
the fate of England /; and frankly own TO
you, that it is question which appears
TO me more dif}icultto settle than any one
which ever before presented itself TO my
mind. You may have perceived great
change oftone in those who formerly
talked so boldly about the endless resour-
ces of the country. They begin now TO
faulter in their accents. They are fright
ened at the work of their two hands,
They have surrounded themselves with
altile securities which an army and the
absolute power of Imprisonment at plea
sure can give them but be you assured.
that they tremble within. They are sea
red at the desolation which they have
Il
compelled to draw upon the lfundholders
and yet, they would fam thatthe were
no such people in existence ! Baified in
all their projects and prospects, they
know not which way to turn themselves.
Their progress seems TO be like the game
ster III Hogarth, aud theirsituation at this
particular stage is nearly approaching 10
that Of his, when, having ventured and
lost his last desperate stake, you see him
gnashing his teeth, holding up above his
head two clenched fists, stamping upon
the floor, uttering curses, while the fund
holders, who sit around the table, are
sneering and SOOTHING at his demoniac a
citations.
Some time ago it was their project to
cause the bank TO pay again in specie,
and agreeably to that project, they issu-
ed The new silver currency. 1t appears
to be now their project 10 get fresh guam
titles off paper again afloat, and, if thew
can do that, the first effect oft will be the
disappearance of the new silver currency,
which, though, inferior TO sterling value,
will never long continue to circulate a.
midst such additional qualities of paper
as will produce any sensible effect in the
raising ofprices and the lowering the re-
al amount of the taxation. do not clear
ly see the possibility of augmenting The
quantity of paper in circulation, seeing
that the proprietors oflands and of goods
have nothing to offer in pledge for it.
But, besides, if it were to be effected.
what tremendous mischief would if pro-
duce! Suppose the paper thus put out
to reduce the value of the currency one
third. A man who has made contract
to-day TO receive three hundred pounds
at distant day, would in fact receive on
ly twO-thirds ofwhat he had contracted
for. The real breach of contract would
take place with respect to all bargains
deaf this time, or recently made; all
mortgages, bonds, leases, annuities,
yearly wages olservants, and every thing
else of that description. Goods, sold on
long credit, would share the same fate
as there is, perhaps, many millions worth
of goods always sent TO foreign countries
upon long credit, when the money comes
TO be paid, il would be paid in a currency
of ODe-tlird less in value than the curren-
cy calculated upon when the goods were
sold. Thus a merchant abroad, who
must now send three hundred pounds
stealng TO discharge his debt TO his cred
itor here, would, in fact, have TO send on
~ two hundred pounds sterling i'm real
money because two hundred pounds i'm
real money would purchase three hun
bred pounds ia the paper that would then
be afloat
Here, then, the waves of the system by
suddenly taking roll in this new direc-
ton, would oyerwhelm a new class of
community and by this time, the dis
credit Of the paper would become so no
torious to The world that the people Of all
foreign nations would keep alOof from il !;
would begin TO shake their heads, and
exclaim--" Babylon tie great is fallen."
Wilt On. d,a..na..L o.. aI....L -.