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half-face that of an ass. Such, to him, would be the effect of following your advice. He knows this himself very well; and, therefore, were there no other reason for his rejecting that advice, this would be sufficient. I have always thought that he would adhere to this measure, and I have the happiness to think so still.

your farm, and for me to be sitting in your seat. If I had been in that seat in the year 1819, Peel's Bill never could have passed; people talk about coughing down: people talk about not being attended to: I have no notion of such a thing: you and your mates might have voted the viscera out of your bodies; but, if I had been there; if I had been in the room, as BURDETT used But even upon the monstrous supto call it, though, if he used to speak position (which, observe, I do not entruth, the hours might have been late, tertain) that he were regardless of conand the company bad: if I had been in sequences like these to his character; that room, that bill never could have a supposition which I put, observe,merepassed. I am glad I was not; for now ly for the sake of the argument, deemthe nation has before it the works of ing it utterly impossible, that a man so your hands. It has before it, behind it, famed should doom himself to eternal and in the very heart of it, the proof of disgrace; should make his name a bywhat can be done by an unreformed word, and, as such, and only as such, Parliament; by a system of election recollected, after his death: suppose, such as that which has existed for so however, for the argument's sake, that many years; and by a septennial Par- he was dead as a door nail to all feelliament. To return to the Duke of ings of shame and of character, and was Wellington, you talk about relief to content to strut about in stars and garothers; but what relief could he get ters, pointed at as the fool par excel were he to commit the enormous incon-lence; proceeding upon the monstrous sistency and folly of returning to a spposition, still, I say, that he cannot small paper-money? In the first place, follow your advice, however plastered all that loss of character which I have over your paper-scheme may be by above described: the dictionary would pretended guarantees and securities for be hunted for synonymes of contempt to its safety.

be heaped upon him; mean, dastardly, Some time before I left London, I resilly, empty, shuffling, trimming, pal-ceived a book written by a Mr. TAYLOR, tering: these would be amongst the of BAKEWELL; and I understand that epithets which would for ever remain Bakewell is in this county of Derby. I associated with his name. The very do not know who or what Mr. TAYLOR boys would point at him, and be ready is; but he writes smoothly enough, and to spit at him as he went along the is a great apostle of perpetual paperstreets he would have presents of money. His scheme is, that the Bank night-caps from the French; in the of England only shall issue the papercaricatures, his ducal coronet would money; that the paper-money shall be give place to a cap and bells: idiot circulated by the country banks and b would be his motto: in short, I have the branch banks, according to the plan never read or heard of a public man in of Mr. HORSLEY PALMER, which was any nation in the world, who, as an ob-published in 1827; that this paper shall ject of reproach and contempt mixed be a legal tender in the payment of taxtogether, and both in so extreme a de-es also, at the country banks and branch gree, as the reproach and contempt which would, in this case, be affixed to him for his life. If some one were to exhibit him in imitation of the Clerical Magistrate in The House that Jack Built, which was published in the year 1819, he would be exhibited as having the half-face of a greedy wolf, and the other

banks, and in the transactions between man and man; that the holders of the paper shall, however, have a right to demand gold in exchange for it at the Bank of England itself; at the motherbank in Threadneedle Street, London; but (and here is the cream of the thing!) shall not have a right to demand gold in

exchange at the present standard rate of your first letter, and I shall so treat the £3 178. 104d. an ounce; but that the second; and insert, also, the representaBank shall proclaim, from time to time, tion of the Grand Jury of the county of the rate at which it will be ready to ex- Kent. These gentlemen point out no change its notes for gold; and that rate remedy at all; they do not even allude is to be fixed according to the market to any remedy; they complain of the price of gold as compared with the pa- distress in which their tenants and per; so that you may sometimes get an labourers are involved; but they leave ounce of gold for four pounds in paper, the remedy to the Government; a thing or less, and sometimes you may be which I should not have done. They obliged to give ten pounds in paper for well understand the cause of their sufthe ounce of gold. This would be a fering, and they were of weight suffipretty thing; and, above all things, a cient to demand that cause; they, at pretty standard of value! The word any rate, might have pointed out the standard means a thing which is fixed, measures which ought to have been as to its dimensions, capacity, or weight. adopted; but I am afraid that they, Mr. TAYLOR'S standard is to be subject like you, sigh for a return of the misto everlasting variations: it is, in short, chievous paper, and vainly imagine, to be no standard at all; and, in such a that by a patching-up of this sort, the case, there can be no guarantee, no se- terrible evils of the present day may be curity. The paper would depreciate as got over, and that the greater evils heretofore; the gold would leave the which threaten may be prevented. As country in the same way as formerly: easy would it be to restore your hair to panics would come, confusion would the colour which it bore forty years ago, arise, and an overthrow of property as to prevent final convulsion if we once would be the end.

more come to a depreciated paper

From your letters, where you talk a-money. It is somewhat depreciated bout guarantees and security for the paper, I should imagine that you had been taking a leaf out of Mr. Taylor's book; and I am really inclined to think that this has been the case: but this slight disguise will hardly deceive the DUKE of WELLINGTON. You flatter him by expressly saying that you do not want the salaries to be reduced. He will like this; and his colleagues will think you a fine gentleman; and all the court ladies, finding that you wish to leave all the places and sinecures and grants, and to leave all their numerous tribes of protegés untouched, will say that you are a very nice man. But the DUKE of WELLINGTON will soon discover that there is no safety in the paper project; he will discover that convulsion must come at last, and that that convulsion may arrive very soon; and I trust that he will, before it be too late, place us in a state of safety by a return to the taxes which existed before the war.

I, Sir, do not treat you as you treat me: I not only name you, but give your publications, to my readers, and put them upon record. I so treated

now, and will be as long as a five-pound
note shall exist in the country. This
debased organ of exchange is gradually
disappearing; it will totally disappear
at the end of about two years from this
time; the depression will go on in-
creasing until the hour of the disap-
pearance of these things; and, unless
the taxes be reduced much more than
one half in their present amount, a state
of things will arise such as was never
dreamed of even by the most sensitive
alarmist. What I am now writing I
wish to be remembered; but it will be
remembered whether I wish it or not.
You have changed your views of this
matter three several times. In 1816,
you ascribed the distress to a surplus
produce, and obtained a sort of supple-
mentary act to the corn-law, which
supplementary act imposed additional
duties upon foreign seeds.
you ascribed the distress to a rise in the
value of money, and proposed to lower
the value of the coin. In 1829, you
proposed a new and large issue of paper,
as the proper remedy for the distress.
Having thus changed; having ascribed

In 1822,

i

Such, to him, half-face that of an ass. would be the effect of following your advice. He knows this himself very well; and, therefore, were there no other reason for his rejecting that adI have vice, this would be sufficient. always thought that he would adhere to this measure, and I have the happiness to think so still.

But even upon the monstrous supposition (which, observe, I do not entertain) that he were regardless of consequences like these to his character; a supposition which I put, observe,merely for the sake of the argument, deeming it utterly impossible, that a man so famed should doom himself to eternal disgrace; should make his name a byword, and, as such, and only as such, recollected, after his death: suppose, however, for the argument's sake, that he was dead as a door nail to all feelings of shame and of character, and was content to strut about in stars and garters, pointed at as the fool par excel lence; proceeding upon the monstrous spposition, still, I say, that he cannot follow your advice, however plastered over your paper-scheme may be by pretended guarantees and securities for

your farm, and for me to be sitting in your seat. If I had been in that seat in the year 1819, Peel's Bill never could have passed; people talk about coughing down: people talk about not being attended to: I have no notion of such a thing you and your mates might have voted the viscera out of your bodies; but, if I had been there; if I had been in the room, as BURDETT used to call it, though, if he used to speak truth, the hours might have been late, and the company bad: if I had been in that room, that bill never could have passed. I am glad I was not; for now the nation has before it the works of your hands. It has before it, behind it, and in the very heart of it, the proof of what can be done by an unreformed Parliament; by a system of election such as that which has existed for so many years; and by a septennial Parliament. To return to the Duke of Wellington, you talk about relief to others; but what relief could he get were he to commit the enormous inconsistency and folly of returning to a small paper-money? In the first place, all that loss of character which I have above described: the dictionary would be hunted for synonymes of contempt to its safety. be heaped upon him; mean, dastardly, Some time before I left London, I resilly, empty, shuffling, trimming, pal-ceived a book written by a Mr. TAYLOR, tering: these would be amongst the of BAKEWELL; and I understand that epithets which would for ever remain Bakewell is in this county of Derby. I associated with his name. The very do not know who or what Mr. TAYLOR boys would point at him, and be ready is; but he writes smoothly enough, and to spit at him as he went along the is a great apostle of perpetual paperstreets he would have presents of money. His scheme is, that the Bank night-caps from the French; in the of England only shall issue the papercaricatures, his ducal coronet would money; that the paper-money shall be give place to a cap and bells: idiot circulated by the country banks and b would be his motto: in short, I have the branch banks, according to the plan never read or heard of a public man in of Mr. HORSLEY PALMER, which was any nation in the world, who, as an ob-published in 1827; that this paper shall ject of reproach and contempt mixed be a legal tender in the payment of taxtogether, and both in so extreme a de-es also, at the country banks and branch gree, as the reproach and contempt banks, and in the transactions between which would, in this case, be affixed to man and man; that the holders of the him for his life. If some one were to paper shall, however, have a right to deexhibit him in imitation of the Clerical mand gold in exchange for it at the Magistrate in The House that Jack Built, Bank of England itself; at the motherwhich was published in the year 1819, bank in Threadneedle Street, London; he would be exhibited as having the but (and here is the cream of the thing!) half-face of a greedy wolf, and the other | shall not have a right to demand gold in

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exchange at the present standard rate of your first letter, and I shall so treat the
£3 178. 10 d. an ounce; but that the second; and insert, also, the representa-
Bank shall proclaim, from time to time, tion of the Grand Jury of the county of
the rate at which it will be ready to ex- Kent. These gentlemen point out no
change its notes for gold; and that rate remedy at all; they do not even allude
is to be fixed according to the market to any remedy; they complain of the
price of gold as compared with the pa- distress in which their tenants and
per; so that you may sometimes get an labourers are involved; but they leave
ounce of gold for four pounds in paper, the remedy to the Government; a thing
or less, and sometimes you may be which I should not have done. They
obliged to give ten pounds in paper for well understand the cause of their suf-
the ounce of gold. This would be a fering, and they were of weight suffi-
pretty thing; and, above all things, a cient to demand that cause; they, at
pretty standard of value! The word any rate, might have pointed out the
standard means a thing which is fixed, measures which ought to have been
as to its dimensions, capacity, or weight. adopted; but I am afraid that they,
Mr. TAYLOR'S standard is to be subject like you, sigh for a return of the mis-
to everlasting variations: it is, in short, chievous paper, and vainly imagine,
to be no standard at all; and, in such a that by a patching-up of this sort, the
case, there can be no guarantee, no se- terrible evils of the present day may be
curity. The paper would depreciate as got over, and that the greater evils
heretofore; the gold would leave the which threaten may be prevented. As
country in the same way as formerly: easy would it be to restore your hair to
panies would come, confusion would the colour which it bore forty years ago,
arise, and an overthrow of property as to prevent final convulsion if we once
would be the end.
more come to a depreciated paper-
money. It is somewhat depreciated
now, and will be as long as a five-pound
note shall exist in the country. This
debased organ of exchange is gradually
disappearing; it will totally disappear
at the end of about two years from this
time; the depression will go on in-
creasing until the hour of the disap-
pearance of these things; and, unless
the taxes be reduced much more than
one half in their present amount, a state
of things will arise such as was never
dreamed of even by the most sensitive
alarmist. What I am now writing I
wish to be remembered; but it will be
remembered whether I wish it or not.
You have changed your views of this
matter three several times. In 1816,
you ascribed the distress to a surplus
produce, and obtained a sort of supple-
mentary act to the corn-law, which
supplementary act imposed additional
duties upon foreign seeds.
In 1822,
you ascribed the distress to a rise in the
value of money, and proposed to lower
the value of the coin.
In 1829, you

From your letters, where you talk about guarantees and security for the paper, I should imagine that you had been taking a leaf out of Mr. Taylor's book; and I am really inclined to think that this has been the case: but this slight disguise will hardly deceive the DUKE of WELLINGTON. You flatter him by expressly saying that you do not want the salaries to be reduced. He will like this; and his colleagues will think you a fine gentleman; and all the court ladies, finding that you wish to leave all the places and sinecures and grants, and to leave all their numerous tribes of protegés untouched, will say that you are a very nice man. But the DUKE of WELLINGTON Will Soon discover that there is no safety in the paper project; he will discover that convulsion must come at last, and that that convulsion may arrive very soon; and I trust that he will, before it be too late, place us in a state of safety by a return to the taxes which existed before the war.

I, Sir, do not treat you as you treat me: I not only name you, but give proposed a new and large issue of paper, your publications, to my readers, and as the proper remedy for the distress. put them upon record. I so treated Having thus changed; having ascribed

Such, to him, half-face that of an ass. would be the effect of following your advice. He knows this himself very well; and, therefore, were there no other reason for his rejecting that adI have vice, this would be sufficient. always thought that he would adhere to this measure, and I have the happiness to think so still.

your farm, and for me to be sitting in your seat. If I had been in that seat in the year 1819, Peel's Bill never could have passed; people talk about coughing down: people talk about not being attended to: I have no notion of such a thing you and your mates might have voted the viscera out of your bodies; but, if I had been there; if I had been in the room, as BURDETT used to call it, though, if he used to speak truth, the hours might have been late, and the company bad: if I had been in that room, that bill never could have passed. I am glad I was not ; for now the nation has before it the works of your hands. It has before it, behind it, and in the very heart of it, the proof of what can be done by an unreformed Parliament; by a system of election such as that which has existed for so many years; and by a septennial Parliament. To return to the Duke of Wellington, you talk about relief to others; but what relief could he get were he to commit the enormous inconsistency and folly of returning to a small paper-money? In the first place, all that loss of character which I have above described: the dictionary would be hunted for synonymes of contempt to its safety. be heaped upon him; mean, dastardly, Some time before I left London, I resilly, empty, shuffling, trimming, pal-ceived a book written by a Mr. TAYLOR, tering: these would be amongst the of BAKEWELL; and I understand that epithets which would for ever remain Bakewell is in this county of Derby. I associated with his name. The very do not know who or what Mr. TAYLOR boys would point at him, and be ready is; but he writes smoothly enough, and to spit at him as he went along the is a great apostle of perpetual paperhe would have presents of money. His scheme is, that the Bank night-caps from the French; in the of England only shall issue the papercaricatures, his ducal coronet would money; that the paper-money shall be give place to a cap and bells: idiot circulated by the country banks and b would be his motto: in short, I have the branch banks, according to the plan never read or heard of a public man in of Mr. HORSLEY PALMER, which was any nation in the world, who, as an ob-published in 1827; that this paper shall ject of reproach and contempt mixed be a legal tender in the payment of taxtogether, and both in so extreme a de-es also, at the country banks and branch gree, as the reproach and contempt which would, in this case, be affixed to him for his life. If some one were to exhibit him in imitation of the Clerical Magistrate in The House that Jack Built, which was published in the year 1819, he would be exhibited as having the half-face of a greedy wolf, and the other

But even upon the monstrous supposition (which, observe, I do not entertain) that he were regardless of consequences like these to his character; a supposition which I put, observe,merely for the sake of the argument, deeming it utterly impossible, that a man so famed should doom himself to eternal disgrace; should make his name a byword, and, as such, and only as such, recollected, after his death: suppose, however, for the argument's sake, that he was dead as a door nail to all feelings of shame and of character, and was content to strut about in stars and garters, pointed at as the fool par excel lence; proceeding upon the monstrous spposition, still, I say, that he cannot follow your advice, however plastered over your paper-scheme may be by pretended guarantees and securities for

streets :

banks, and in the transactions between man and man; that the holders of the paper shall, however, have a right to demand gold in exchange for it at the Bank of England itself; at the motherbank in Threadneedle Street, London; but (and here is the cream of the thing!) shall not have a right to demand gold in

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