Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-06-27

tine after the execution of the deed, suspend
Ell from a tree by Il handkerchief, about two
miles from kuiz;ovn. &c w1S m"ch sah;rct
TO melancholy, bu, from what cause we car
not tell.
Siucc writing The above, we have hcen inior
med that the above lamentGhlc circumstance
was The consequence of az un>ncrr>-'w pas
sion which ne had conceived iOr Il NouiiC lady,
and which had impaired his undcr' td"dI"g.
LETTER SFCoND--oN THE PRESENT
STATE OF ENGLAND.
From TIE Boston DGiiy Chronicle Grl Potr'of]
Operation oflts Naticsa nrht ga e different cases OF
suc'eiS-CausesDf he present distress iinr Obahiit
Of Spc, DIS rel c%auc oi size present crisis IN Tie Ii
n1nciai sItualicn oi the country
N we suppose q community OF individuals,
in which property * equal, divided. aud thdt
the share OF every individual is augmented in
the same proportion, there + of course TO dd-
ference IL their relative wealth and prosperity.
Suppose. however, that property IS uncIu2iiy
divided, and that every ones share is increased
ii AN equal rate say doubled, ii Is eyidont that
the relative wealth and influence Of the i,"ii-
Nidu&ii are altered, because the doubling ot a
large prOpertV gives 10 the DOSSCssUT Il much
greater accession Of power in proportion than
the doubling IF a small one. Ii we 20 farther
and suppose tllat propertyis very umequaily di-
vi,.ed. and that the portions OF the "a eat pro-
prietors are very much AUGMENTED. while
those ofthe poor remain the same, the iuequai-
~ becomeS at course mere glariug and Obvi-
Gus. Lastly, II we suppose that the poor not
only have no share themselves III this augmcn-
taIOE, bur are compelled to contribute out of
the!g small earnings very large sums TO pur-
chase 4 for the great ?ronrieorS, the injustice
aGd inequality are clearly pushed TO the last
extreme, anh we imaginc n state of things SO
very extraordinary, that the actual existence
OF it would appear hardly concejvablc-yet
SUcl IS very nearly the situation ofpropeity at
the present day in G.. Britain.
I he creaiiomof the National Debt operates
IS the adSitiOn of so much actual capitai 10 the
stock a he
ted II is 20 all intentS and purposes, property.
The amount of this Is now about a thousand
, millions Of pounds sterling, (the exact amount
August ], 1916, was SOS .3JS, IOOl.) and this is
Kept IN existence b. the annual payment of
from forty 10 fifty millions Of pounds sterling
interest. Low large an addition this is TO the
capital OF the country, may be easily collected
from thGiuct that the property tax of ten per
crAt. on income IN general produced only four
teen millions which gives au income OF no.
900 900, amt makes the income of the stock
| holders from the funds equal 10 full third of
the revenue Of The country Nov this addition
Ia the capital OF the country heing made in
circulating and conventional, not in fixed capi-
tai; IN paper, and not i'll articles OF use and
consumption, its operation is TO produce an
immense increase in the price OF living, and il
isaccordiugly notorious that expences ofcvery
KIND are greater in England than in any ether
part of Europe, n least in tiieIIl proportion of
third IN winch have stated the capital Of
the country Ia he augmented, and pre- badly a
rs TIE tendency OF every ilUCtUatOn OF This
Kind is TO cN'css. Ihis increase OF prices pres
scs iuhuiteiy harder on the poorer dian on The
richer Ciassts from lie Obvious cause that the
small means Of the former bein.. before inst
sufficient TO meet their eXpcncCs, are now ina
dcqndte 10 the comforts and neCcssarieS of
INC, Tllle tle latter meet the increase Vi eX-
pence with portion Of their SuperfuOus in
came. On She other hand the increase of CAPT
t'i as generally speaking entirely ia Use bands
OF the rich, because they only had il IN their
power &c lend 70 government while the con-
1'ibulions that Keep the capital in existence.
proceed from all classes and are bUrdensOme
only 10 The pOCr.
Thus, the inequality of property, tie great.
though pertains necessary curse Of social lire,
is Immensely increased IN England bv the "a
tionai Debt, Wilde the People are compelled 10
support and keep IN existence the source OF
tue mischief. Grained 20 tie soil by the lard
bonds of necessity, as firmly as Promotions O.
his rock, they are forced like him 10 foe5 r.ih
their own bowels an Unsuitable aud ctegusi tor
mentor.
IF, however, VIC imagine STATE OF tliugs 30
which, from amy accidental c4rse tre whole
amount OF capital thus artFcia.iy augmented,
Is brought into active and tui cmplo lneut. 4
compensation is afforded for the Inequality Of
property SccasOmed by the augmenta.ion--
The demand Tor labor and its profits are in
creased in proportion 10 the increase OF CAPT
tai, and that cassof society that suffers y tie
latter, is precisely that which gans by the for
Iner, so that if the laboring class do not derive
those extraordinary profits from the uucom-
mon demand for labor that they would have
done III other Chcums tances, they are at least
prevented by il from feeling so severely the
pressure of The debt.
These general observations furnish us. |
think, a pretty satisfactory solution of the cues.
ton respecting the causes of the present dis
tress ia England, which has occasiOneG good
deal OF doubt and diSputatiOn, both there gnd
here. II has been attributed by some to an ac-
oriental occurrence OF thirteen or fourteen in
dependent causes; hut this is so very unphiio-
sophica an account Of the matter. that il could
not Deadmitted unless from absolute necessity
Inc rest ascribe II respectively TO two princi-
pal circumstances, one party to the transition
from state IT Warto state o! YcacC. and The
consequent stagnailOu oi business and Cpssa-
ton of lie demand for labor--fhe other 10 the
heavy pressure Of the taxes. II IS pretty avi-
dent, however, that ii must he attributed 10 the
united eject Of both. That the distress Is not
solely produced by the consequences of the
peace appears quite clear, from tie fact that
no similar distress ever existed after other
wars had been concluded aud iliat it Is moi
entirely tie effect OF the taXes is equally clear
because the taxes were greater while tile var
lasted than they are now aud there was no
complaint Of distress in the country. Now "a
we suppose the war 80 lave created an extra
ordinary demand for capital, aud Of course for
labor sufficient 10 employ the Whole suyerHu-
Gus prOpcgiy d lie country. aud 10 counter
balance the pressure of the taHCs upon The
poor, we have IL very good reason wiiy This dis
tresS was not teit by them rs long as lhe war
lasted. though the loans auu faxes, and with
them their burdens. went on regularly increas-
ing 20 the end OF it. \ lille tie immense in
crease Of the debt and taxes, bey0ud what ttey
were nj tlic conclusion Of any other war, is d
good reason why The distress should be so much
ereateruo tian il has ever been before in ST.
mildr circumstances.
Upon the same principles, we may form some
rational conleciureS IS to tbc pyOblhc dura
lion of these di,tfcsses. VI hat Chance is there
tiiat there viii be soon or ever in Eua,aui
such revival Of business as TO cmyiot all
lllc n-aL--L-- md -Ll- 10