Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-18

the nation TO ease the burtcns of the subject
courage the industry of the country, and TO enc or
ders Of men. These are the things which Should be
known: these the things winch philosophy, zach
ing by the example Of history, proposes tell III order
that The focs OF one age or nation may he 4 warning
10 others; and this is shat want 10 show, read
again from the same historian.
1.-The King George H. having recommended the
Commons the consideration OF paper means Tor 20 n
ny the national debt, was prelude to the +. nous
South Sea ac,, which became productive OF so iuch
mischief. and infatul;ion The scheme was pro- cted
by Sir John Rnnt who had been bred scryenei, and
possessed Of all the cunning, rlius5lity ana aoi
requisite for such undertaking. He coD,nunl
Gated ms plan 10 tie Chancellor Of tie EAcheGcer IS
well 10 one Of tle Secretaries Of State H. an
swered all their objections, and the plan adj ied
they foresaw their own private advantage - TIE
execution Of the design. The prcence for tle Sc eme
was to discharge The national debt, by retacnt al
the funds into one. The BANK, and the SO%lii
| SEA company outsid each other. The Sari Sea
Company altered their original plan and offered such
| high terms to Government, that the proposals o
the Bank we're rejected; aud bill ordered 10 be
brought into tie House Of Commons, formed On tn"
| plan presented To the South Sea Company. The hill
passed wi;hou. amendment or division; and on the it
DAY Of April! i72l received the royal assent By THIS
act, the South Sea Company was authorised to take
IN by purchase subscriptions the irrcdecmabe debts
Of lie nation stated E!6,5lG Il and Likewise the re-
dccrnabc debt amounting the same all f33, l92 II
shilIings and two pence half penny In consideration
Of the advantages expressed the act, the company
declared themselves willing to make such payments
into the receip, nf the EXCHEQUER were speci.
fled for the of the public, 10 be applied TO the dis
CHARGE If In. pal,l,c debts
"ncforc any subscription could
BE- made fictitious stock Of t51i 300 he'd been dispo
sed Of by The directors 10 facilitate the passing Of Tie
BILL Great part Of this was distributed among the
Earl of Sunderland. Sir. Craggs Secretary Of STATE the
Chancellor Of the ExcheoGer, the Duchess Of kura!i
tie Countess of ra,en and her two neces (mistress.
a. Of The Etnp &c0
| This is sample Of the origin and p.ctensons Of
neafIy all the urea. corporations which were chartered
and natronizea by lie Wapole Whigs: all Of them
brourht forward under the prelext 81 relieving the
peopc and the Goycrnmeutncar all of them found
-; - f,u,l Or G,lly-c2rricd thron hy cofrnn,ion--
md c,J,nr in d;sr,ace and calamity Leaving out
80. III ala, vnnid ~, s,,o,s. that / had be,n
-,i;,,', ;hr hi.,ary Of orr own cann,ry in our own
,;~os.7 Ibe pirturc sus The u $ IN I-j1 rs wen as
!, s,,.oa t,nrand IN i-.o. but nj on, pout Inc com
,-;,r II nushoj s,co further wonli entirely iai!.
IN nose c,rno-,ton uIunacr.r, were urnisled in
rc,,d, rLnn,b f,vorsd h, The Eiap and Minis
I ,i,, uo,, d.,c.,.d i, ,hn ncr,,n ,nJ ,ursr.d -
~ 49,! -. ~ l I'D ;,i,;ca Tic Son,I 81,
-" NJ. - c,al ,,r ,,.,,r,.o,.d ,i,c;r ,,onor,r
",',:Sa..od ,ia; ,,,;,,d,nd ,Icn,saI,r. H.
-, tI - M. ~. ,,;c. ~, horor ,r ,roft
!; ~, -, ~, r-,ssIa-r, ,,,i c,sb,ar If ,ba ,Ly
lyh;c WAS chartered 10 relieve The
,., .c,ho ,nor .,d .,,;ch sr,ndcd tho s,;d noor
~ GOO aao 49,, 40 ,s.Ior, ,,a he cn,r
-. 800 ,.,,-s,.J ;n,e uolI,,d .ron,urc5 bro,glt
c,;nnolIy nunishcd and made 10 dsrorrc their
nl,,i G,l,,3s or,hn-s and n,ou.ocrs Of yar,ous cr
r,i 49,: ,o i =, ,,.,,; Ind. ,,l J., 40 ~.
MIMI I' r,l,,' ,ss and o,,r avn
,rsnr
~ ~ ~ c"r 49, ,.o,,,ors a,r !, LII;
=" '"u Wv ','. , 49,, -, !; ranl-i
!r l''s go, ,,,s.I,,; ,h ra,,o. IN, ,,h;ch
49,, 49, o,hsr conmry ever bebcId-the Bank Of The
un;,.d ,hosa H. dcrs .ha;r coun.ellors and
ai,.,ors ,ra nov, no,cn,,nl Vim ,hc Federal Govern
",5 v ,,. CIR ner s"ens II relfnnd arc
hnl and ever ~ se,zinr anon Govern
and Goyrrnmcnl cred. 10 eccomnlish ,lrr
',' H. an M. Nh. ,,,,Ir.l c,osc. anJ mr.
go. !, Ma cn,,,n,r;.o,
%'aa,: no,i;, r,s rn,,ed IN Grcat Britain h.
- hsnl. .nJ connapirs~by Mo bn-si
cit,,iil" j., ,in d.,a.,io,, or ,hcir cr;,.es-ona
,''e - -, 49,, - 49,, s,,,,, ,:a s.hn,n
w all. Md ,y;,h and h. tho same mecns
= r;,i,n ~ Ma PAM, or ,tn !, (:
l,.n ~ .'i' liner 40 ,oacrr in onr amo.
pan" .'" .,4ss .". =, 9n,- ,e,sa NM, cn-
IVA '''e W, ~, an " 49, .., p j.: - -. - i !. ~