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PRINTED AND PUBLISHED BY THE AUTHOR, At No. 11, Bolt-Court,
2.—Wilmot Horton's Project. — Kent
. 13.-Eastern Tour. — To Dr. Black.--
14. – Eastern Tour. — Correspondence
with the Vice Chancellor of Cambridge.
—Advice to Young Men.—Lectures.—
Norfolk County Meeting, -
“Property is of no value, property does not “exist; that which we call property is not “property, unless there be a standard of value. “It is the money of a country, and nothing
“else, that can make property of any use.
“To the mass of the people, the land can be “of no more use than the vacant space above “it. unless there he money whereby to deter“mine and denominate its value, and to cause “labour to be performed on it, and to remove "its produce to the backs and mouths of the “ people. Seeing, then, that money gives "value to every thing; that it is the main “cennent of civil society; what a monstrous “thing it is, that this thing should be left to “the direction of bands of men, who have no “general interest with the people at large in “this respect; but who must wish to gain hy “the money; and whose gain must be detri* mental to the nation at large.”—Register,
To Ms. WESTERN,
On his Letters recently published, relative to the Money Affair. ~ w Derby, 25th December, 1829.
***, You are in the field again, I see, and ire pushing hard for the return of the false and base paper-money. You very requently observe, that we must either ave the false money; the base and dereciated money; the “worthless rags"; he villanous, the cheating, monopozing, blood-shedding, panic-striking, *ellish paper-money; that we must have his, or a great reduction of the tares; but then you immediately fly off from this latter remedy, as if it were a thing by no means to be thought seriously of; but mentioned as an impossibility, or something next to impossible; just as
poach or starve.” He means, of course, that he shall poach, and that he cannot and will not starve. It is thus that you speak of reduction of taxes: you, indeed, in the petition in which you were concerned at Colchester, very kindly tell the Ministers and the Parliament, that the expenditure cannot be materially reduced. Therefore, we must, according to you, re-augment the quantity of money. You never seem to think of the eternal disgrace and infamy which the Government and the Parliament, of which last you are a member, must bring upon themselves; you never seem to think of the hatred and contempt that they will deserve, aye, and that they will receive, too, not only from the people of this country, but from all mankind, if they now return to those filthy and abandoned rags by the means of which they brought us, according to their own confession, to within forty-eight hours of barter. You never seem to think of this : you forget the solemn declaration of the Parliament, that it never would lower the standard. In short, you seem to regard the covering of the whole of the Government with infamy as nothing at all; and really one would think that you had been expressly retained in my service by a high fee, to accelerate the period of holding the Grand Feast of the Gridiron. “We must retrace our steps"? Oh, you must, must you? When do you mean to stop, then? When one of your carters is backing a cart, he generally knows where to stop ; but can you tell me where you will stop, when you begin to o back? Will you stop at 1826? Will you stop at 1822 * Will you stop at 1819 - Oh, no | You must run all the way back to 1814, and unlimited bank restriction; and then out will come the assignats, and your whole system goes to pieces like a cart going back down hill, dragging the poor horse after it, and, finally, coming against a bank at the bottom, dashing itself, the
to man puts the alternative, “I * and the harness, all to atoms. B
TICAE REGISTER. -Ham for retračing the steps, too; but I am for turning the horse and cart about, and going steadily over the rough and uphill road, till I get upon the fair and level [plain of 1791; before the accursed simall paper-money made its appearance, to the disgrace of England. That alternative which you look at with so much terror, and from which you recoil, as a guilty man recoils from a ghost; that alternative, the reduction of expenses, and taking off of taxes, and rectifying contracts, and bringing in resources now dilapidated and wasted; that alternative which contemplated an end to military sway, and the return of civil government; which contemplates the return of the barrel of beer to the labourer's cottage : that alternative, I am decidedly for; I prove it to be just; I F. it to be practicable ; I prove it to e necessary to the happiness of the people and the safety of the state. I like the idea of retracing your steps; but I am for going back the full length ; I am for going back to the point whence we departed, when the miseries and disgrace of England began ; and not for stopping at the point where those miseries and disgrace were consummated. You vary your descriptions and definitions; so that sometimes one thinks you want one thing, and sometimes that you want another. Even your petition from Colchester contains a mass of selfcontradictions. You want the malt and beer-tax repealed: you want a sixth part of the taxes taken off ; and yet you cannot, for the life of you, see how the expenditure can be diminished But you want, at the same time, a return to the vile paper-money; and what do you want a repeal of taxes for, if you thus really diminish their amount in one half 2 To render the several parts of your writings consistent with one another, I defy mortal man; but, amidst all the confusion and all the inconsistency, one perceives a constant grunting running along through the whole of your lucubrations; a constant grunting in one's ear; or, rather, an ever-recurring grunt after the base paper-money, just as one hears the sound of the big bell in a peal of bob-major, Yours
LONDON, SATURDAY, JANUARY 2d, 1830.
is not round ringing, where the big bell comes in always last; and where there is regularity, and consistency : yours is a peal of bob-major, but, at every change, we hear the big bell. You are a fine ringer ; it is a pity you had not confined your studies to that entertaining pursuit. When I am reading you, I am every now-and-then delighted i at your invectives against the double and treble taxes; but before the sen- | tence is out, before the change comes i to a close, I always find my ears dinned with the accursed big bell; and I have observed that you never write one single paragraph, at the most, without convincing us that all you have in view is the infamous paper-money. It is curious that while you are thus sounding the big bels, and ringing more changes to get at that sound than any set of ringers in Essex can get upon six bells, at any rate; while you are at this, calling aloud for the return to the paper-money, you profess your confidence in the wisdom of the Duke of Wellington; and your high respect for his character. Why, Sir, if he were to adopt the measure that you recommend, he would not only be, but would be thought and called, the most cowardly and contemptible creature that ever disgraced the earth by treading upon it. Every argument that you have offered him, if arguments yours are to be called, was offered to him before the Scotch Small-note Bill, was passed. You can suggest nothing that was not dinned into his ears before. He said that he clearly understood the subject: he was the Prime Minister at the time, as he is now ; he gave every assurance that mortal man could give, that he never would consent to the repeal o the law of 1826. He was told of the evils that he would inflict by enforcing that law : his answer was, that temporary evil must be suffered for the sake of ensuring permanent good; and he expressed his determination to adhere to the bill in a manner the most positive that words could enable him to do. He has hitherto persevered: an immense mass of ruin and misery has been occasioned by the bill; and if he were now
to give way, what language would afford terms of reprobation sufficient justly to designate his conduct I trust that he will not give way: I trust that he will rigidly adhere to the bill: I trust that he will return to the taxes of the year 1791: this is not only my hope, but my belief; and to say that I believe the contrary, would be to say, by implication, that I regard him as the meanest and most stupid man upon the face of the earth ! His case is this : he was one of the Ministry who adopted the measure of 1826; the measure had his approbation at that time, as a measure necessary for the safety of the state: he has since declared that it was absolutely necessary to the safety of the state. When told of the evils which it would inflict upon the people, he answered, that the present evil was nothing compared to the evil if the bill were not carried into efsect: he reprobated the false credit which paper-money gave rise to, and he justly reprobated it: he gave powerful reasons, unanswerable reasons, for preferring the King's coin to the base paper-money. He insisted upon the wisdom of bringing the nation back to its former habits of expense. Upon these grounds, he has proceeded with this bill: he has caused the suffering to take place to a prodigious extent: he has gone on till the one-pound notes have nearly disappeared, and until the fives have followed them to a pretty great extent; and shall he stop now 3 Shall he be guilty of the wanton cruelty of having Produced all this suffering without any chance of any good in return; or shall he confess himself to have been totally ignorant of what he was about 2 Will you hang him up upon one or other of the horns of this disgraceful dilemma; you who profess to be his friend; you who profess to admire him and rely on hin I, for my part, who make no such professions, should blush, as an Englishman should blush, at the thought of being under the control; I under the control, did I say? I should blush at the thought of there being an English tas, whose happiness could possibly be aiected by the measures of a being so in
“Pressibly contemptible as the Duke of
Wellington would be in the eyes of all the world, if he were to lend an ear to your eternal peal of bob-major. That he will not do this base thing I take for granted; and, therefore, I think it worth while, which otherwise I should not, to warn him of the dangers that now beset him. Locke what do you quote Locks for 2 Locks knew nothing about paper-money, and said nothing about it. He never said anything about small notes. You might have quoted other people, who did know something about this matter. Locke has said nothing upon the subject of paper-money, which had not been said, and better said, by others, a thousand years before he was born; for this was a science that the ancients understood as well as the moderns; and that Moses understood better than Locks; but, of the tricks of paper-money makers, neither Moses, nor the ancients, nor Locke, knew anything. But if you must quote Locks; if Locke were your guide, why did not you count Locke in opposition to the passing of Peel's Bill? You were in the house at the time; you were in doors at the time : why, then, did not you quote Locke against the passing of the bill? You can now complain of that bill; you can now represent it as the cause of the ruin of the country: why did you not then oppose that bill 2 You are one of the men who passed the bill; and yet you set yourself up as a doctor of this science; and complain of the Government for having changed the value of money, and having doubled the taxes. While you were approving of this bill, you had had an opportunity of reading my predictions with regard to this very bill. In a letter addressed to your friend Tierney, published in London in the month of September, 1818, I told you, that if such a bill as that were passed, it would produce all the effects of which you so bitterly complain ; and yet you talk of Locke, and do not talk of me. Indeed you could not talk of me, and of my accurate predictions, my repeated warnings, without suggesting to the mind of every reader of your letters, that it would be extremely * for you to remain at 2