618 REVIEW.-Dissertation on Nature, &c. of Value. "No expence hath been spared, in its production, to render it acceptable to the publick; and if its intrinsic merit should be considered worthy of encouragement, the Editor must leave it to the publick, and to the addressed in particular, to devise ways and means for its more extensive circulation; and himself would consider the remainder of his days happily employed in the improvement of it, should his life and faculties be prolonged for the purpose. "I am, Sir, your most obedient humble Servant, W. DAVY. Lustleigh, Moretonhampstead, near Exeter, Devon." "N. B. The Editor, desirous of dispersing his work into the hands of the most judicious, hath, in the foregoing List, directed it according to the best advice of his friends. And if any one, not included therein, should be desirous of a Copy for himself or friend, it will be regularly sent, upon due intimation." A Preface of 13 pages forms a "Prelude or Introduction to the several Subjects;" which are comprised in four divisions, each called a Sermon," but containing numerous Parts," or Subdivisions: 66 WE were conversing over wine after dinner twenty years ago, with a commercial man of note, and quoting Adam Smith with warmth of feeling, when our Host observed (as we then thought illiberally), that if we wanted sound information on the subject, we must go to the Royal Exchange. We are now, however, of opinion, that our Host was in the main, right; and that, in point of fact, there is no such science whatever, in things, as Political Economy; that the whole reality is merely an affair of demand and supply, as ob taining in civilized nations; and that there are no stable principles, or can be any, on the subject, further than these, that when the buyers exceed the sellers, things rise in value; and that when the latter exceed the former, they become cheaper; and that, the phænomena, which political economists convert into laws of science, are no inore than shifting circumstances, growing out of the operation of demand and supply. Prices of corn, which shall never fluctuate-equality of demand and supply, so that there shall be always a profit, and never a glut-self-acting regulations of the prices of labour and provisions, which shall not encroach upon the profits of capital-the exchange always in favour of ourselvesthese are excellent well-intentioned theorems, but which are ever and anon tossed in a blanket with great scorn, by lawless circumstances, that no power of Political Economy can reach. For our parts, we think that attention to the principle and operation of demand and supply might produce great business good; but that Political Economy, as now professed, is empirical, and will never effect any practical utility whatever; for more than two thirds of it consists of jargon, which envelopes the subject in smoke of scholastic quibbles (like the French dissections of the parts of speech, Chambaud and his adnouns) about things intuitively comprehended, such as rent, profits, capital, &c.; which discussions for all practical purposes are as useless, as experiments on the decomposition of water are to a man who merely wants to know its quantum of power in driving one, two, or more water-wheels. We know that we are treading upon dangerous ground; and that we may be attacked with a heavy fire of Algebraic and Mathematical A's, B's, and C's, with "if one shoe costs in labour one stocking, then two shoes will buy two stockings," and so forth. But we are of the Bacon school of philosophizing; we know that the country went on in a thriving way before Adam Smith was born; that the course of business is not affected in any form by his work, and that, certain evident points excepted, Political Economy is Aristotelian, unsupported by experi ment, and a mere philosophical romance, because business neither is nor can PART II.] REVIEW.-Antient Maps and Plans. can be conducted upon its pretended principles. Every body knows the lines of Hudibras, "For what's the worth of any thing, But so much money as 'twill bring.' And every body must also know, that when Adam Smith calls value "the power of purchasing other objects," he only says the same thing as Butler has, viz. it has money's worth, which is a truism. But the same Adam, that Adam the first man, whose Paradise was Political Economy, also says, that a "commodity, which is in itself continually varying in its own value, can never be an accurate measure of the value of other commodities;" to which our author, p. 177, adds the following, viz. "that a measure of value, which cannot be practically applied, is worthless.” The Author before us is a good shot, and much havock has he made among the best game in the preserves of Mr. Ricardo and others. To drop figure, he is an excellent logician, and his style for its precision and clearness is exceedingly good. He shows with relation to value, that every thing practicable appears to be simply and substantially this alone. "If I know the value of A. in relation to B. and the value of B. in relation to C. I can tell the value of A. and C. in relation to each other, and consequently their comparative power in purchasing all other commodities." P. 96. Still, value is in every way uncertain, and utterly dependent upon circumstances. For instance, Pottery is very marketable at Surinam. In exporting it, we must add to the prime cost the interest of that cost, the expence of freight, chance of breakage, insurance, custom duties, &c.; thus we give it an artificial value. When it is brought into market, the purchasers have no money, and the Pottery is bartered for Rum. A second calculation is then made of the sale-price of Rum in England, freightage, leakage, custom duties, &c. as before. This is the mode in which mercantile business is conducted, and value is then a mere result of calculation. But things may have a stationary value. Mr. Smyth (Berkeley MSS. p. 99) says, that in the time of Edward 1. eggs were twenty for a penny, which neither rose nor fell for 160 years, i. e. down to the reign of Henry VI. Now we find from the Lex Mercatorum of 619 Malynes, that in the time of the Saxons, an ounce Troy of silver was divided into twenty pieces at the same time called pence; and so an ounce of silver was at that time worth no more than 20d. or 1s. 8d. which continued at the same value until the time of Henry VI. (See Wingate's Arith metick, p. 8, ed. 1720.) Eggs, there fore, during these 160 years, became a a standard of value, because by com. paring the money prices of other articles with the quantity of eggs, which such money-prices would purchase, and then valuing the eggs by twenty for a penny, he gets at the precise worth of those other articles. In the same manner, at present, if we can find out two articles even exchangeable for each other, in the same ratio, we then, in our opinion, have got weights and scales by which we may ascertain (if we may so say) the specifick gravity of value,-a Philosopher's stone forsooth, for which the Political Economists so labour in their Alchemical studies. 125. Maps and Plans illustrative of Herodotus. 126. Maps and Plans illustrative of Thucydides. 8vo. Vincent, Oxford. IF we were desired to mention a series of works calculated to assist the student in his progress, we should refer him to some publications which have lately appeared at Oxford. Of these, the two Atlases before us are not the least useful. They contain not only the general maps necessary for the study of Grecian history, but also plans and sections illustrative of particular passages in the Authors above-mentioned. To tell the inquirer that he will here find maps of Greece, Egypt, and the Archipelago, will not induce him to desert D'Anville, Rennell, or Barbié du Bocage: but to inform him that Scythia, with the track of Darius, the Herodotean world, the battle of Marathon, the bridge of Xerxes, the pass of Thermopyla, Salamis, Platea, Central Asia according to the Satrapies, Libya with its physical geography specified, Thrace (including Macedonia and Epirus), Sicily (with notices of the founders of the separate cities), Sybota, Stratos, Olpæ, Pallene (with the siege of Potida), Amphipolis, Pylus and Sphacteria, the battles in the Cressæan Gulph, the siege of Platea, with variations to suit 620 REVIEW. Skelton's Oxfordshire. its progress, Syracuse, Acarnania and Etolia, with a Chronological table of the period between Herodotus and the Peloponnesian war,-to inform him of this is to tell him, that these chorographical treasures, long locked up in expensive publications, are now given to the world. Gail and Rennell are the principal authorities, and the enhas executed his task with abigraver fity. The size is folding quarto, which in fact occupies only the space of an octavo. 127. Skelton's Engraved Illustrations of Oxford. (Continued from vol. XCIV. part ii. p. 256.) IT is a maxim with some of our acquaintance to purchase only the first number of periodical works, and they insist that by so doing they have the best specimens of each. However they may be borne out in some cases, (for we confess the idea is not altogether groundless), most assuredly had they selected the first, good as it is, as con taining the cream of this publication, they would have found themselves the dupes of a theory, false when undiscriminating. Mr. Skelton has not only kept his faith with the publick (and as times go this is no little merit), but has treated it with liberality. Half the volume is now before us, and in its progress we have observed with great gratification an improvement in each successive number. The result of such conduct is a high reputation, and is in itself an earnest of like continuance. The six numbers published contain, Frontispiece composed of various interesting architectural details-Wroxton Abbey, a curious specimen of an old English mansion-Stanton Harcourt Church, and the interesting buildings in its vicinity-The Spencer aile in Yarnton Church, managed with much skill and taste-The Sepulchral Effigies in splendid attire, of the Wilcotes in Northleigh Church-The antient entrance to Shirburn Castle-The details in Stanton Harcourt Church-The West end of Bloxham Church, with its beautiful spire, and the passing clouds behind, touched in a masterly -East end of Dorchester Church, the point from which it is drawn so happily chosen, as, if adopted, might become in our opinion very effective as a scene for the theatre-Shirburn Castle, a pleasing view-N. E. view of Adderbury Church-West manner [xcv. entrance to Ifley Church, a most admirable plate-Interior of Ewelme Church, showing the font, with its immense cover of elegant tabernacle work-Roman entrenchment near Dorchester-S. E. view of Dorchester Church-The Chaucer and Suffolk Monuments in Ewelme Church, a splendid display of architectural ornamentWest entrance to Bloxham Church. This chaste specimen of the pointed style of Edward I. is a door-way formed of three receding arches struck from the same centres, the uttermost supporting canopies in gradation so as to contain the twelve Apostles; and over the apex a larger one, within which is seated the Saviour, about to judge the world. An Angel on either side supports the emblems of his passion, one having the cross, the other the spear and crown of thorns. On his right are the just arising from their tombs, the lids of which, we may remark, are wider at the head than the feet, and marked longitudinally with the cross; and on his left the wicked falling into the infernal regions, represented by the immense jaws of an imaginary monster. Ifley Church, from the East a curious architectural example-The former Church of Banbury-The Marketplace of Watlington, a most elaborate plate-Four canopied Stalls in Dorchester Church, apparently of the time of Edward II. These contain six specimens of sculpture, which Mr. Skelton has most justly "presumed" have been “wrong described by Warton," who conceived that they alluded to the History of Birinus, whereas they are events in the New TestamentChapel of the Abbey, and the Mansion, in Thame Park, an elegant picture— The Belfry of Burford Church. This is extremely well engraved, the valuable lights most effectively preserved. It is moreover a very curious and highly instructive specimen of interior decorative architecture, of what is termed the Norman style. Besides these superb engravings, are the following vignettes: South door of Great Tew Church-Steeple Barton Manor-house-Demolished Church of Bladon-Paten in Cassington Church -West end of Cogges Church-Map of the Roman remains in Stonesfield and its vicinity-Plan of the Roman villa discovered at Northleigh-Section of the pavement of ditto, and its substrata-Stone pulpit in Combe Church -Rectorial PART II.] REVIEW.-Slaney on Rural Expenditure. 621 appeared in our Parti. pp. 403-407. To this we may add, that the Parliament in 1643 made an order on the 29th of June for the sale of the sequestered goods of Dr. afterwards Sir Wm. Merrick, the Judge of the Prerogative Court. -Rectorial Farm-house and Church which a much more extended memoir of Deddington-Architectural details, collected in the Garden of the Vicarage at Ensham-The Church of Shipton upon Cherwell-Antient Chimneytop on the Manor-house at Old Woodstock-Part of a Monument in Stanton Harcourt Church-The Church of Clifton near Dorchester-Barn on the site of Dorchester Priory-South porch and beautiful buttress of Dorchester Church-West door of the North aile in ditto-Exterior view of the Jesse window in ditto-Font in Chalgrove Church-Quadrangle of the Hospital at Ewelme-Free-school at dittoPorch and Tower of the Church of ditto-Font in Warborough Churchand a very curious capital of a column in Bloxham Church. In the descriptive part, Mr. Skelton seems to be wholly unassisted; yet such has been his indefatigable research, that he has actually presented us with a vast deal of novel information respecting this unaccountably neglected county. It contains fourteen Hundreds, and of these we have Wootton, Dorchester, Ewelme, and part of Bloxham, of each of the parishes of which he has contrived to say something. He has sedulously consulted Wood's MSS. in the Ashmolean Museum, without being blindly governed by his assertions, and agreeably surprizes us with interesting biographical notices from MSS. in the Bodleian. The bronze Paten in Cassington Church is, we have no doubt, of Flemish manufacture, being aware of the existence of others of the same character and of the same date, though the subjects be different. The British word Cwm should not be written with two ms. The authorities from the register of Deddington Church, of marriages solemnized by Magistrates during the Usurpation, are curious illustrations of the feelings of that time. Several portraits of individuals of note are enumerated, as preserved in the manor-house of Kidlington, which had hitherto escaped notice. A very ample account is given of the Roman discoveries at Northleigh and its vicinity, and a detailed description of the costume of the superb effigies of the Wilcotes. Under the head of Woodstock, mention is made of that branch of the Pembrokeshire Owen family that took the name of Merrick, of Future antiquaries are wisely cautioned to bear in mind that some of the antiquities with which Yarnton Church is enriched, did not originally belong to it, but were there deposited by Alderman Fletcher. The account of Dorchester, the British name for which is Caer ddwr, is very satisfactory. The genealogy of Jesse, though perhaps unique in the mullions of a window, was nevertheless employed on other occasions; it ornaments the roof of the cloisters to one of our Cathedrals, and we have seen it adopted for the lattice work of a Roman Catholic confessional. The figures of the Virgin and Child in that at Dorchester, have been entirely obliterated. Mr. Skelton informs us, that " Edwine Earl of Mercia was provoked by the unkind usage of the Normans to break out into open insurrection, in which he was assisted not only by his brother Morkar, but Blidon king of Wales." Blidon is evidently a corruption of Bleddyn, of which name there were two Welsh princes, Bleddyn ab Cynvyn, and Bleddyn ab Maenarch. The former of these is the one alluded to; he had been made king of North Wales, jointly with his brother Llewelyn, by Edward the Confessor in 1064, and became sole sovereign of that district, as well as of Powys, in 1068. He was assassinated in 1073. Our limits do not permit our going more into detail in reviewing this handsome publication; bnt we are happy to find our prediction, that the list of subscribers would greatly augment, amply verified. 128. Essay on the Beneficial Direction of Rural Expenditure. By Robert A. Slaney, Esq. 12mo. pp. 238. FEW books possess information more useful than this cheap and small vo lume, or throw greater lights upon the respective subjects, of which it treats. The ground-work of each is laid upon the first authorities in Political Economy; and it will therefore be most novel and instructive to sink one or two 622 REVIEW.-The Antiquary's Portfolio. two shafts, in Mr. Slaney's mine, where we can find new veins of ore. In p. 59, he proposes Life Insurance Offices for the Poor, in country towns, "where small sums from 30l. to 300l. should be insured. The capital required would not be very large; and if well managed, the establishment would pay all its expences." "Private buildings should not be too costly for the sake of durability. It has been remarked, that the French build more solidly than the English; but the compound interest of the difference expended will, by the time the habitations of the latter require renovation, build for them a new dwelling, with all the improvements, which experience and ingenuity have suggested in the interim." P. 102. Upon this head, we would observe, that in this country, enormous sums have been vainly expended in building upon bad plans. Many a villa at a watering-place is built for half the sum which a country mansion costs, and yet is far superior in appearance and convenience. When houses were, like castles, fortifications, there might be a justifiable reason for massiness of construction, but ninety-nine country seats out of a hundred are new fabricks within the century past; and successors will build anew, as their forefathers have done. The following remarks concerning a simple improvement in cottages, ought to be attended to: "The chimnies and ovens belonging to cottages are generally so placed towards the outside, as to lose all advantage of the warmth they communicate to the surrounding air. This might be easily corrected. The flue of a constant fire, conducted through an upper room, would keeep it always free from damp, and supply a ready place to dry wet-shoes or clothes. At all events the outside shed may be built against the back of the chimney, which will prevent mouldiness or decay from attacking any thing there deposited." P. 107. This principle of Alueing, under a proper precautionary construction against fire, might be usefully extended to offices and servants rooms, in countries where fuel is dear. The back of a kitchen-chimney might at least save the cost of a fire in a servant's hall, saddle house, &c. The rage for fanaticizing the poor has been practised in Wales for a full century, with no other effect than introducing religious feuds, which are always implacable. The same expe riment is now making here, and is abolishing, as fast as possible, all festivals for the working classes. "It seems probable, says Mr. Slaney, that the tendency to intoxication so prevalent among the poorer classes, arises, in some measure, from their having no place of exercise or amusement on their holiday; for at cricket matches this is seldom the case. It is not unusual to hear persons belonging to the richer orders of society railing severely and inconsiderately against the drunkenness, and debauchery, to fairs, wakes, pastimes of the poor, and attributing vice, ought to be abolished. Now the desire of and ale-houses. Such nuisances (say they) recreation to an uneducated man, who works hard all the week, is surely as natural, as it is to one who has the advantage of education and reflection, and who possesses all those gratifications, which wealth and lei sure afford." P. 130. "At present, owing to the inclosure of open lands and commons, the poor have no place in which they may amuse themselves in summer evenings, when the labour of the day is over, or when a holiday occurs. The consequence is, the peasant either sits sullenly at home, trespasses on the woods and fields of others, or goes to the public house, where he loses his money, and spends his time in gambling and drinking." P. 200. The experiment is easily made. In some counties cricket and field sports still subsist. Are there more or fewer public houses, or greater or less ties of equal population, where field amounts of malt-duties, paid in counsports exist or are suppressed? Here we take our leave of Mr. Slaney; and cordially recommend his work to the perusal of country gentlemen, who will find both their wealth, influence, and happiness increased by adopting its instructive rules. |