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VOL. XX. No. 8.]

LONDON, SATURDAY, AUGUST 24, 1811.

[Price 1s.

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If the conte-t is to be between Ferdinand and Joseph, my dec ded o; ivion is that the latter will " reinain king of Spain; and whatever my wishes may be, the turtle patriots would rather that Joseph

should be king, than that the war should tirminale with the establishment of a free constitution.”POLITICAI. Register, Vol. 14. page 228. Aug. 13, 1808. 225)

(226 PAPER MONEY.In the foregoing page 391; And, by a reference to the Number of the Register, at page 209, I in.. same page it will be seen, inat the dollar seried, upon this subject, an article from silver is, inpoint of fineness, 8 dwts. worse the Kentista Gucette, containing the process lhan English Standard silver. Therefore, and result of a curious and useful calcula. as the Dollar is now issued at 5s. 6d. and tion as to the real present worth of a one its divisions in proportion, Bank Paper is pound note of the Governor and Company to Sterling as 51 4 to 66, which makes the of the Bank of England. The calculation Sterling value of the Three Shilling Token was founded on the data fornished by the 2s. 441. and of the One Pound Note Bank Company themselves in their Three 15s. 81d. Let us state the matter clear at Shilling Tokens; and the result is, that the the expence of a litile repetition. £. 1 Noie of the Bank is worth 10s. 4 d. - Nothing could be more fair than the

In Sterling,

d. author's principle, and his result was perfectly correct. But, there is an error in

The Pound Note is worth... the foundation on which the whole of his

The Five and Sixpenny calculation is raised; and, of course, as all

Token .......

0 4 the calculations are correct, there is an

The Three Shilling Token 0 2 error in the result, which error I have

The Guinea

1 1 The Shilling

0 perceived by a reference to that admira

1 ble work, Dr. Kelly's Universal Cambist. In Bank of England Paper, -The Kentish Correspondent states the

d. weight of the Three Shilling Bank Token

The Pound Note is worth... I 0 0 9 dwts. Il grs. or 227 grs.; and, he adds,

?he Five and Sixpenný that the weight of Three Shillings is 11 dwts.

Token

0 5 6 15 grs., or 279 grs. llence he proceeds

0

The Three Shilling Token 3 ( with his calculation, and very clearly de

The Guinea

1 6 9 monstrates, that, on data furnished by the

The Shilling

0 I 31 Bank Company themselves,

The Depreciation is, therefore, A Guinea is worth in Bank £. s. d.

274 per centum. of England Notes ......... 1 5 93

Now, let it be observed, that these reAnd A One Pound Note of the

sults are drawn from data furnished by

the Banks Company themselves in their Bank of England is worth 0 16 44 | Three Shilling Tokens. These Tokens not But, this Gentleman, for whose pains I beg I only dec. are the real value of the Bank leave to offer him my sincere thanks, for- Noies; but, they declare what the Bank gut, or he had never known (as would Company themselves look upon as being have been the case with me without the the real value of their notes. -Those aid of Di Kelly's Book), that there is a notes are, then, depreciated, in comparison considerable difference between the fininess with gold and silver, 27 per centum ; of ihe Token Silver and ıhe Standard silver, and, iheir pound note is really worth only and, of course, a considerable diürence 15s. 80. in good and lawsul money of this between the value of the one and thit of Terim. ----If this be false, any one may the other. The Token Silver is the maine shew it by figures; and, if no one does with the Doliur Silver. The Dollar is not, shew it by figures, let the Paper- Mill peoas is generally supposed, worth 48: Od. ple for ever afer hold their tongues.sterling ; but 4, 344. as will be seen by if one wanted any thing more to establish referring to the Universal Cambist, Vol. I, he fact as well as the degree of deprecia

£. s.

tion, the state of the gold market and of the which is, as nearly as can be, a fall of 27 { exchange would. The Portugal Gold coins, l per centum. -Thus is this fact of deprewhich are not all equal in fineness to our ciation proved in all manner of ways; and gold coin, now sell, leaving, of course, a yet are there hirelings to deny it. Their profit to the broker, at £.4 175. 6d. an denials, however, answer no purpose. ounce, if paid for in Bank of England This is a point as to which all their tricks Paper. Whereas, if that paper was not will be of no avail. Here is a steady depreciated, the ounce of such coins would principle at work, and nothing that can sell for no'more than £.3 17s. 10d. in be said or done will put a stop to its prothe Bank Paper; because, as we have gress. The depreciation of the Bank seen above, that is the value, in Sterling Paper is daily and hourly appearing under money, of an ounce of English Standard fresh guises: it is gradually putting forth Gold. Under these circumstances, is it all the usual symptoms of total annihilation. any wonder that we no longer see any At Bristol little pieces of silver, worth no gold or silver coin current? It would be more than eightpence sterling, have been very strange if we did, seeing that the issued by private individuals, and pass for guinea is worth £. 1 68. 9d. and the sbil a shilling, under the denomination of " neling, if good, worth 1s. 3d. in Bank cessary change.At Louth, in Lincolnpaper; and, the Crown and Half Crown, shire, a Company of Carpet Manufacturers, of course, in the same proportion. As named Adam Ede and Co. have issued to the exchange, we will take the instance Notes for 2s. 6d. These Notes are mere of France. By referring to the Universal printed cards (just like the assignats ira Cambist, Vol. II, page 238, it will be France), payable to bearer ; but, mark! seen, that the par of exchange between not payable generally, but specifically in London and Paris is this: 25 livres, il Bank Notes. Thus : “ Pay the bearer for sous and 0 deniers French for £. 1 Eng eight of these a one pound Bank Note.” Jish. Now, if Monsieur Jacobin of Paris And here, then, it all hangs together in a owed Sir Sothead Jubilee of London a string! I have frequently said, that to pound, and Sothead wanted to apply the these small notes we must come. I have all pound to the use of Sothead Junior who along said it. It is the regular, the natural, might be a prisoner in France, the elder the inevitable progress; and, such notes Sothead would draw a Bill of Exchange we shall see in every part of the kingdom. for the purpose: that is to say, he would -This Mr. Adam Eve seems to be the draw an order, or bill for £. I upon Mon-founder of the half crown notes. Not a sieur Jacobin, which, upon being pre- bad name for an original inventor. His sented by the younger Sothead, would, in notes are veritable assignats. They are due course be paid in the French money, just such things as they used to have in livres, sous, and deniers; and, as we have France. They will breed amazingly; seen above, young Sothead ought to re- and, I dare say that Mr. Adam Eve will ceive 25 livres, 11 sous, and 6 deniers; see the country people at Louth market but,“ nu,” says Monsieur Jacobin,“ your with thousands and thousands of the pro“ English pound is not worth so much as geny in their pocket books, of a denomic sit used to be. It is not a pound in nation down so low as that of a halfpenny.

specie that I owe to Sir Sothead Jubi. -As the gold and silver rise in price, “ lee: it is a pound in Bank Paper, there must be more and more small notes, “ because what I bought of him was or, the tokens must be raised in their no“ bought in that paper. Therefore I must minal value, or else, others must be put pay you no more than the worth of one forth of the present nominal value, but of

pound, in Bank paper.” This point less weight or of a less pure quality. Perbeing settled, they look to the price Cur- haps all these three expedients will prorent and Course of Exchange of the day; ceed hand in hand. But, at any rate, the and, if it were on last Friday, they would present Tokens will not remain long in find, that, agreeably to the Statement pub- circulation, unless they be raised in nolished in London by Wetenhall, the sum to minal value; for, they will soon be worth be paid to young Suthead would be only hoarding, or selling to melt down, or to ex18 Livres, instead of 25 Livres, 11 Sous, port. The guineas and other gold coins and 6 Deniers. So that here we see, that have disappeared along with the crowns our Bank Paper has depreciated, or fallen and half crowns and tolerably good shilin value, 7 Livres, 11 Sous, and 6 Deniers lings; and, when the metals rise a little out of 25 Livres, 11 Sous and 0 Deniers; higher in price, the Tokens will march the

same way; for they can never be made to open to us by the sea, and, at all times keep company with a paper that is deprecapable of being assisted by us; at Tarciated lower than themselves. The ragona if they could not, with a numerous expedient of Mr. Adam Eve of making garrison, defend themselves against the his assignats payable only in Bank Notes French, what have they 'to expect at any has, doubtless, arisen from the knowledge, other place ? At Tarragona there was, which is now got abroad, that, as the law | it appears, an army of about ten thousand yet stands, a man may demand gold or men, at the time when the assault took silver for notes payable to bearer ge place. Between eight and nine thousand nerally; and, this will answer his pur were actually made prisoners. This is a pose ; for, 'no one can enforce payment fearful fact. Why, ten thousand men of them in any thing but Bank Notes. ought to defend well-constructed works The example will, I dare say, be followed, against fifty thousand; or, indeed, against by and by, all over the kingdom, by the almost any number that can possibly Country Bankers, who will make their be brought to bear upon a fortified place. notes payable in Bank of England Notes. But, as the Spanish Governor himself says, But, what will this do? It will not stop his men would not meet the French in the the thing an hour; but, on the contrary, breach. They behaved well enough, it will accelerate it greatly, by augmenting seems, during the former part of the siege, the quantiiy of paper, and, of course, and until the real fighting foot to foot adding to the depreciation.--I should be began; but then they gave way; their inuch obliged to any one who would send hearts sunk within them; they were apme one of Mr. Adam Eve's little notes; palled; they fled in every direction ; and to any other person who would send and, rather suffered themselves to be me one of the “ necessary change" pieces killed by their own officers than meet the from Bristol. It is not for the « base | French soldiers. There is no gainsaying lucre” of the thing; but I have a desire to this. It is the statement of the Spanish possess memorials of the progress of the Governor himself; who says in so many grand event that is approaching. I have words, that “the garrison behaved heroicsome of the forged assignats, and I should ally up to the moment of the assault; like to have one of Adam Eve's to keep that, even then the officers behaved them company. But, as to Mr. Adam "well; that they, sabre in hand, made Eve, he might, I think, send me from him- " the greatest efforts to keep the soldiers self a quire or two of his money. It costs “ to their duty, and to collect them, in him nothing but the paper and print; “ order that they might resist and attack and, if it were only as a brother author he“ the French, who were pursuing and might afford me so trifling a gratification. “ cutting them down in the streets. Bat,”

" the terror of the soldiers inSPAIN. TARRAGONA. The language

“ creased every moment, and they let of those who were indulging, some time “ themselves be sabred even by us, withago, such very sanguine hopes as to the “out resolving to recommence the comwas in Spain, is a good deal changed. " bat.”—This is a most striking proof They begin to tell us of treasons at Cadiz; of the dread which the Spaniards have of of enemies in our bosom; and, in short, of the French; that they feel themselves inevery thing which indicates coolness, dis- ferior to them in point of courage; and, affection, and a declining cause.To in short, that they are impressed with a the fall of Tarragona much of this has conviction, that it is their fate to be conbeen ascribed ; and, it must be allowed, quered. The accounts given by our that that event was well calculated to pro own people of the close of this memorable duce dismay amongst the people of Spain. siege agrees but too well with what has Poor creatures! what are they, in any been published by the French, as will be city or place, to do against such tremend seen in another part of this Number. ous means as the French have to bring to But, I really do not see the policy (to bear against them? What are they to say nothing of the justice) of our railing do? It is fine talking about their glorious against Marshal Suchet and his army. If cause; but, what are they to do?--At the French had railed against 'Lord Tarragona, where the governor appears to Nelson on account of his victory off have been a very gallant and skilful man; Trafalgar, which, in point of importat Tarragona, strong by nature and by ance, may be put, perhaps, about upon a art; at Tarragona, which was, besides, level with is achievement of Marshal

says he,

at us

man.

Suchet; if the French bad railed against piliaged, which we well know are the lond Nelsoa upon that occasion, wbat natural and the general consequences of good would that have done then? It that very resistance which we so strongly would bare ojade us laugh at then, to be recommend? But, we do more, as far as sure, just as the French must now laugh our public prinis go; we do more than

"That is the u-e of caling Suchet urge the Spaniards to this sort of mortal anul bis arany savages and monsters? That resistance in their towns. We record of will do wo no good, nor will it do the the Spaniards, that they, in numerous inFrench ally harm; and, as in the justice stances, nessucre the French urhout mercy ; of ihe charge, though we have been in that the Gueritias, as they are called by forbed ty suchet himself, that most ter us, and the Banditti, as they are called by rible vengeance was taken upon the town, the French, cut to pieces all the Frenchit was whai the Go Gnor was apprized of men they can lay their hands upon. These before band, and what he might have acts our public prints uppluud; they avoided by timely surrender. He did not bring them forward as proofs of the proper choose that: be shewed himself a brave feeling of the Spaniards. And, while

But, then, he was to expect the these prints do this, is it not a shame to consequences; the natural, the regular, hear them, in almost the same breath, consequences. Since war has been war revile the French for their barbarities tothose who have stood out and have been | wards the Spaniards, which are the necescaptured by assault have been given up i sary. consequence of those acts of the lo pillage. There may bave been more Spaniards, which these prinis so loudly than ordinary severity and brutality ex commend ? -Aye, we are told, but the ercised at Tarragona for ought I know; French are int nders: ly go into Spain but I know, ihat to give up the place to as conquerors. Very frus; and I am by pillage was nothing more than what is so means inclined to justify the invasions fully authorized by the usages of war; and conquering of a country for the sake ani it is, I am inclined 10 think, what any of conquest; but, it is, nevertheless, very English Commander would do in a simio well known, that the circumsiance of an lar case.

-- We have been assured in our enemy being engaged in an invasion, and newspapers, that ihe French lost above in the pursuit of conquest; it is very well three thousand men before Tarragona known, that this circumstance does not There were the lives of these min to prevent such enemy from being considered avenge.

We all linow how vengeance as a luzujul chemy, and from being treated gets treasured up during a long siege, in according to the usual customs of uur. If which, until the end, the besiegers gere- this were not the case; that is, if an inrally suffer most.---But, at any rate, our vader with views of conquest were to be horror at the conduct of the French and considered as shut out from the usual our compussion for the sufferings of the rules of war; if his suldiers were to be Spaniards have something about them buichered in cold blood; if no quarter truly distinctive of the character of the were to be shown his armıy on account of war we are now waging in the Peninsula. his being an invader with views of conyuest, We urge the Spaniards (poor souls !) io what would, in numerous cases, bave been make a gallant defence of their towns; the fate of our armnies ? For, how many we extol those who hold out against the islands, principalities, and kingdoms, lave French, and we execraie those who do we invaded and conquered ? I am not, not. We call these latier cowards and observe, attempting a justification of, or traitors, though we did not call, by either an apology fur, tbe invasion of Spain by 'of those names, the garrison who last year Napoleon: whether tbat invasion was just surrendered at Almeida. In short, we do or unjust is a question which I will not every thing, that we can possibly do, and here attempt to discuss, though it is a say every thing, that we can possibly say, question which ought, one of these days, to induce every Spanish garrison to resist to be soberly and impartially gone into. to the last. And, while we do this, and I am not attempting, by citing our own while we have loud and virulent censure conduct, to make any excuse for the invaat hand for those garrisons who do not so sion of Spain and Portugal by France, hold oui, is it not rather too shameful for though I must express my fear, thai our us to pull out our handkerchiefs and ailect example at Copenhagen, coupled with our in blubber when we see a Spanish garri- constant declarations, that we' are fighting a pul is the sword and a Spanish rown the buttles of England in the l'eninsula, which

we very often call the outworks of England; most grossly. The world has two eyes I must express my fear, that, with these and two ears. The world saw us take facts before the world, we should not gain possession of the Danish fleet; because much in an accusation against the French what? Why, because there was every that they have invaded the Peninsula likelihood, that, if we did not take poswithout just cause. But, let us leave all session of it, Napoleon would take posthese matters for the present, and return session of it, and would use it against us. !o the question as to the laws of war, as If the reader applies this, but for half a bearing upon the point before us; and, moment, to the case of Spain and Portucertainly these laws, if laws they may be gal, he will see, that all the argument is called, do not authorize any distinction not on one side. ----But, if the war be between the treatment of an invading productive of such terrible evils to the army and an army that is not engaged in Peninsula, and if we do really feel for the invasion ; for, in fact, how are people unhappy people, why do we prolong this to make war at all, upon land, without war? Für, no one will deny, that we are intasion ? The Duke of Brunswick in the real supporters of the war in Spain as vaded France about twenty years ago, as

well as in Portugal. 6. What!” Some he had re invaded Holland, with the one tvill say ;

put an end to the war by very same Prussian army; but, his army " withdrawing our aid and support!” Very was not considered as excluded from the melancholy to be sure; bit, then, leave off usual rules of war. The Duke of York, whining about what the Spaniards and Porour present Commander in Chief, invaded tuguese suffer from the war.--" What! France sometime afier the invasion of the give up the Peninsula to the Cur.ican Duke of Brunswick ; he was at the taking Upstart, and thus rerire in disgrace beof a town or two, and attempted to take “fore him, all our noble comm

manders, ail others. But, did ever any one hear of his our Lords and all our 'Squires, leave the army being refused quarter, or treated " field before a parcel of nid Sergeants and differently from the usual courie of war? Corporals, the sons of farmers and laNo: and, when the French republicans « bourers.” It would be a shame, inthreatened to do it, were they not menaced deed; but, then, let us not talk any ionger with retaliation ?---Hence, then, it is about the sufferings of the poir Spaniards clear, that the French army in Gpain and Portuguese on account of the war: jet ought to be considered as a lowful

enemy, us drop ihat cant. What! quit the an enemy entiiled to the treatment pre “ Peniosula where we are fighting the butics scribed by the usual practices of war. of England!No, no : to be sure not; Therefore, if we applaud (as our prints but, then, for decency sake, do not say mostly do) acts of massacre com nitted by another word about compassion for the the Spaniards upon parcels of the French people of Spain and Portugal who suffer army; if. this be our custom, with what from the existence of the war.-- -We decency do we set up such loud com have not bere been discussing the quesplaints against the French for their mas- tion whether our cause he good or bad in sacring of the Spaniards? I do not know the Peninsula: ke bave been discussing this which party began the bloody work; but, question, whether it be wise or foolish in us this I know, that we applauil ic in the to affect so much compassion for the sufSpaniards, and I also knoxv, that we therein ferings of the people in those countries, do all in our power to keep it up on both and to talk so much about the exient of sides, seeing that we must be well assuredl, those sufferings; and, if niy reasoning that the French will not be behind hand upon the subject be. correct, he shall, I in ibe way of retaliation.-----Let us there. think, do well, in future, to hold our fore, hear no more of these compassionate longues respecting those sufferings.-I effusions in favour of the Spaniards and of propose now 10 add a tew remurks upon these revilings of the French, until we i he cause of Spain and Portugal generally, have quite cleared ourselves of the charge taking things in a more eniarged view. of being instigators. __ The same reason These remarks are suggested by an article ing will apply to all the evils of the war in in the Courier of the 2000 instint, manithe Peninsula. We seem to think that festly written with a view of palliating the the world bas but one eye and one ear: reverses which have recently cake'n place, an eye kept steadily upon the ambitious and (an object never oveitunked) of inconduct of France, and an ear to listen culcating a belief that all those who did not, only to our tale. We deceive ourselves or do not, approve of the war in the Penin,

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