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that such men are not capable of in the ciation of the paper, is, surely, sufficient way of belief. That the paper would, at to fill one with surprize and dismay, if, at last, become a legul tender, or forced circu- this day, and after all that we have seen, lation, it was easy to see. I did, indeed, any thing ought to produce such an effect for my owo part, expect this state of the in our minds. paper to be apparent long ago. The faith of this “most thinking people” I On the 2d of July a protest was entered, knew to be almost passing conception; in the House of Lords, against LORD STAN but, still I did not think it adequate to the Hope's Bill, which protest I here insert. supporting of this paper-money for 14 Dissentient,--Because we think it the years after the issuers had ceased to pay “ duty of this House to mark in the first in cash and after they were protected by “ instance with the most decided reprolaw against the demands of their cre « bation, a Bill, which in our judgment ditors. It was, however, certain, that the manifestly leads to the introduction of thing must come to this point at last? it “ laws, imposing upon the country the was certain, that, if the national Debt and compulsory circulation of a Paper Currency; the taxes continued to increase, the time “ a measure fraught with injustice, demust come when landlords would see that “ structive of all confidence in the legal they must either starve, or demand their security of contracts, and, as invariable tents in coin; and, whenever this time experience has shewn, necessarily pro: came, it was, as I have many times said, “ductive of the most fatal calamities: impossible to keep up the paper only for

GRENVILLE, six months without making that paper a

Essex, legal tender, which might eke out its ex

JERSEY, istence, perhaps, for a year or two, but

GREY, which, in the end, must ensure its total

LANSDOWNE, destruction. I have several times been

Cowper, asked, what reason there was why land

King, lords should not demand their rents in

LAUDERDALE. gold and silver, or in bank notes to the For the reason assigned on the other amount of the gold and silver; and, my “ side, and because the repeal of the law answer has always been, that there was no “ for suspending Bank Payments in Cash reason at all against it now, but that there “ is in my judgment the only measure which soon would be ; for that the moment such can cure the inconveniences already fell, and demand was made, Bank notes would be “avert the yet greater calamities which made a legal tender. This was natural, and, “ are impending from the present state of therefore, the ministers are now doing “ the circulation of the country. just what I always expected they would

VASSALL HOLLAND." do, whenever any land-holder did what Lord King has now done; but, to hear In the protest of the eight peers I hear. them speak of it as a measure calculated tily concur; but, I do not agree with LORD to afford protection to the fund-holder is Holland in his addition to it, if his lordwhat I never could have expected. They ship means to say, that it is possible to rewill see what sort of protection it will give sume cash payments at the Bank. To pay him; and he will feel it! What will be the notes in gold upon demand, agreeably his fate I shall not pretend to say ; but, to the promise upon the face of the notes, I hope, there is justice enough yet in the is certainly the only cure for the inconvecountry, real justice enough to prevent niences already felt and the calamities him from perishing, while there exist the now impending; but that it is utterly immeans of such prevention. I trust, that possible to adopt this cure is, to my mind, his claims will meet with serious and pa- not less certain. His Lordship proceeds tient consideration; that the question of upon the notion of Mr. Horner and the what is due to him and 10 whom he ought to Bullion Committee, namely, that the book for payment will be settled upon sound of the depreciation consists in an excessive principles of equity. I am for giving real issue of paper, which is very true, if you protection to the fund-holder; but, to compare the quantity of the paper with hear the Ministers say, that he is to meet that of the gold, or of the real transactions with protection from a measure such as of purchase and sale, between man and that now before parliament, a measure man; but, which is not true, if you comthat must inevitably accelerate the depre- pare the quantity of paper with the amount

cause

of the Dividends payable on the National , operates in this way, a most popular Bill Debt ; and, I would beg leave to put, with it will be. It will act as a distributor of sincere respect, this question io Lord wealth ; of money, lands, and tenements; HOLLAND : “ If cash payments were re- for, to suppose, that, in many cases, the te“ stored, and money, as must be the case, nants will not soon become the proprietors, “ were restored to its former value, where is to discover but very little thought on the " does your Lordship think would be found subject, and that, I am sure, would be a “ the means of paying the Dividends ?" shame in a body of HEREDITARY LEGISLA

tors in the “ most thinking nation in the It is impossible! The thing never can “ world.” What a change this will make ! go back ; no, not an inch; nay, and it Happy is the man who is a tenant ! Much must keep advancing. This very measure, better off is he than the man who tills his by hastening the depreciation, will cause own land; because the former has given a new addition and still larger than former nothing at all for his, whereas the latter has additions, to the National Debt, and of paid, at some time or other, purchase money course to the Dividends. Those additional for what he possesses. The letting of long Dividends must be paid in an additional leases is out of fashion ; but, in general, quantity of bank notes ; and thus the sys- the lands of great proprietors are held tem must go on, as Paine foretold, with an upon lease, and these leases are not, upon accelerated delocity, until it can go on no an average, for less than seven years at the Jonger. Having this opinion su firmly lowest. Some of these leases are nearly fixed in my mind, I was quite surprised expired, of course, but, others will naturto see the Marquis of LANSDOWNE endea- ally be but just commenced. So that, the voured to mend the Bill of Lord Stanhope average time, for which the land is now by the introduction of a clause for prohi- let, I shall take at three years and a half. biting the Bank Company from augmenting all the Duke of Bedford's estates, for inthe quantity of their paper after the passing of stance, are let, then, for three years and a the Bill. This shews, that liis Lordship half yet to come. Now, if the paper deprehas what I deem to be, and 'which, I ciate three or four times as fast as it has think, I have proved to be, a most errone hitherto done, the tenants of the Duke of ous view of the real cause of the deprecia- Bedford will have a brave time of it for tion. If he thought with me, that the these three years and a half. But, if the cause is in the increase of the National Bill, which is now before parliament, Debt and of the Dividends, he would have should send down the paper to the state of proposed no such amendment as this. the French assignats in 1704, what will, in

that case, be the situation of the Duke of Bed. As to the conduct of LORD King nothing ford ? There are many landlords, who cancould be more fair or more laudable. He not hold out for three years and a half, and wished to take no advantages of his tenants; who, therefore, must sell, in whole or in heonly wanted a fulfilment of his contract part; but, there will, indeed, be this conwith them; and, as the spiritof the contract venience, that they will every where find was more favourable to them than the let,

a purchaser ready at hand in their tenant, ter, he abandoned the letter and only re. and one, too, who will not only know the quired them to hold to the spirit. To hear real value of the property, but who will him, therefore, charged with oppression, have the money ready to pay for it. This and by......... ! But, it is as well to keep is nothing in the way of a joke. I am in ourselves cool. Let others chafe and foam. earnest; it is what I am convinced will And, if the House of Lords do choose thus take place, if the Bill of Lord Stanhope to determine ; why, all that I can say pass into a law; but, as I said before, if about the matter, is, that they are the best ihe Lords like it, nobody else can possibly judges whether they stand in need of their have a right to interfere. They may, rents, and, if they do not, I really do not surely, do what they please with their own see much harm in their giving them to their property. All that I wish to stipulate for tenants; and, this act will be the more is, that we Jacobins and Levellers shall generous as they are about to do it by a never be accused of this act of distributing law, so that the tenants will keep the rents the lands and houses of the rich amongst without having to give the landlords even those who are not rich ; that we shall not thanks in return. That such will be be accused of this great act of pulling douma amongst the effects of the Bill, if it pass, and raising up. Hume remarkód that the there can be no doubt; and, as far as it funding system, in the space of 500 years,

would cause the posterity of those now in

MERINO SHEEP. the coacbes, and of those upon the boxes, to change places ; but, if this Bill of LORD To be sold, in the Village of Botley, near STANDOPB pass, this change will be a thing Southampton, on Saturday next, the 13th of much quicker operation.

of July, at 12 o'clock, a number of Merino

Rams and Ewes, selected from the finest I shall be told, that Lord King's eram Flocks in Spain by the Honourable Cocaple would have operated even more quickly RANE JOUnstone, and lately imported into than this measure in destroying the paper. this Country.-~The sale will begin preGranted. It would, there is no doubt, have cisely at 12 o'clock, and will close, if posproduced, in a very short time, that which sible, on the same day. Some of the best must have totally destroyed the paper system, judges have viewed these Sheep, and the root and branch, namely, TWO PRICES, proprietor is convinced, that, whether as against which, openly and generally adopt- io the frame or fineness of wool, the equal ed, no paper-money ever did, or ever can, of them, in so large a number, have not bestand for any length of time. That that er- fore been seen in England. They were ample would have been generally, nay uni- selected with the greatest care, and under vetsally, followed there can be no doubt at every circumstance likely to insure success all; for, no man voluntarily gives away as to the object. his rents, or, rather, lets another withhold them from him. Some persons would

OFFICIAL PAPERS. bave been a little shy at first ; but, when they found that others did it, they would Spain.—Report from Count Suchet, Combare got over their shyness, and the de mander in Chief of the Army of Arragon, mand would have been universally made. to his Serene Highness Prince of NeufThus, then, the TWO PRICES would have

chatel, Major General. been established; and the gold and silver,

(Concluded from dol. xir. p. 1632.) finding that they could pass current for their real worth, would have come 'forth The Chief of the Squadron of Arfrom their biding places, some, while the tillery, Duchamp, displayed his ardour rest would have hastened back from and bravery in it. On the 29th, at eight abroad. “Surely !" say you : "why, at night, the firing of four cannon, loaded " then, are the government alarmed at the with grape shot, gave the signal for the " effect of Lord King's example, if it would assault. I appointed General Facatier to “ bring back gold and silver into circula- command it." The first column of attack, • tion?” Oh! there is a very good rea under the orders of the Chief of Battalion, . son for their alarm ; for, observe, THE Revel, of the 16th regiment of the line, TAXES WOULD CONTINUE TO BE composed of 300 men, preceded by the PAID IN PAPER! When the tax-ga- Captain of Engin

rs, and 20 sappers, therer came to the door of one of you, for furnished with ladders and hatchets, ad. instance, you would, if you had only gold vanced to turn the work, and seize upon or silver in the house, beg him to call the the gate, which they had much difficulty next morning, or to sit down a bit, while in forcing, with axes, &c. whilst a party you, with your gold, would go and pur- of the columns applied their ladders, and chase paper-money sufficient to pay him scaled the works. Captain Papigny rethe amount of his demand ! There needsceived a mortal wound whilst directing no more to convince you that the govern. his miners.-The 2d column of attack, ment has good reason for alarm at the pros composed of three hundred chosen troops pect of seeing Lord King's example fol. from the 7th regiment of the line, led by lowed, as it assuredly would be, if there the chief of battalion, Mexque, and Capwere no law to prevent it. In short, that tain Desaix, my “Aid-de-camp, set out example would annihilate the paper sys from the battery in breach, and threw tem in a year.

'themselves upon the part of the fort

which had been battered in breach. One The next Letter will close the series. hundred ladders were thrown into the In the mean wbile,

fosses ; our voltigeurs precipitated themI remain, Gentlemen,

selves into them, under the fire of the Your friend,

enemy.

The fosse was twenty feet, our WM, COBBETT. ladders but fifteen. The Serjeant of State Prison, Newgate,

Miners, Meuneers, having placed bimself Friday, 5th July, 1811.

at the top of a ladder, made the Voltigeurs

Our sea

climb over his shoulders to reach the eight battalions and 380 artillerymen or breach-his example was followed, but sappers, in all 2580 men at the moment of the soldiers arrived too slowly to please attack.-On the 30th, at nine in the morn. their impatience they at last discovered in ing, 3,000 men marched from the place the interior of the fosse part of an aque- and endeavoured to retake Fort Olivia ; duct, which facilitated the passage; a

but the brave men who knew how to take eriple-row of palisadoes defended it; the it, have likewise well known how to defend Italian Captain of Engineers, Vacane, it, they let the enemy approach to the ordered them to be cut, and afterwards the gates, and then drove them back with viladders to be carried from the first fosse gour; all round the fort is strewed with into that of the redoubt, which was their corpses.—The taking by assault of quickly scaled, as well as the cavalier. the fortress of Olivia, has enabled me to The Italian miners shewed on this oc open the trenches against this town. In casion the greatest understanding, unit- the night between the 1st and 2d of June, ed with bravery ; the greater resist the first parallel was opened, at 100 toises ance the enemy made the more were distance from Canons Bastion, leading to the efforts of our brave troops redoubled, the right of Francola. The batteries are amidst cries of « Vive Napoleon !” erecting, and the fire will commence, In the mean tinie the enemy continued to as soon as they are mounted. fire some cannon loaded with grape shot batteries have already caused the port to at the extremity of the fort; the brave be evacuated. I am with respect. Mexque was wounded in the thigh; the

" Count Sucniet.Adjutant-General Commandant Mesclop, “ Cump before Tarragona, June 3." hastened with the first reserve of 500 Ita Paris, June 18.—His Majesty the King lians, and restored the battle ; he pene- of Spain has set out on his return to his trated into the redoubt, saved the lives of dominions. 8 officers and 100 Spanish soldiers in it, and thus ensured the conquest of the fort ; the enemy in vain endeavoured to save PORTUGAL.--The War. Dispatch from themselves in the extremity of the works Lord Wellington, June 6th. behind a third fosse, 200 artillery men Downing Street, June 25. A Dispatch, of were thus killed upon their guns, the re

which the following is a Copy, was this mainder of the garrison surrendered at dis

morning received at Lord Liverpool's cretion; there was still 900 soldiers and 70 officers, the rest, to the number of 1500,

Office, addressed to his Lordship by Licut.

General Lord Viscount Wellington, dated perished by the bayonet.-During this

Quinta de Granicha, 6th June, 1811. terrible scene, a general huzza, given by an Italian brigade upon the left, and upon My Lord ;-We have continued the Francole by the division of General Ha- operations of the siege of Badajoz with bert, augmented the terror of the enemy, the utmost activity since I addressed your who were obliged to support a brisk fire | Lordship on the 30th ultimo, and our fire of musquetry upon the ramparts of the commenced on the morning of the 2nd place. The Chief of the battalion of engi- instant from four batteries on the right of neers, Chulliott, quickly established our the Guadiana, directed against the outlodgments on the breaches. In this bril. work of St. Christoval, and on the enemy's liant affair, Monsigneurs, the Italians, batteries in the Castle constructed to supwalked in order with their elder brethrenport that outwork; and from two batteries in arms. The whole of the army display on the left of the Guadiana, directed ed the greatest valour.

against the eastern face of the Castle. (Here follow the eulogiums of particu The fire from these batteries has conJar officers and a statement of the stores tinued ever since, and a breach has been taken in the place, among which are 40,000 made in the outworks of St. Christoval, rations of biscuits, 10,000 pounds weight which, however is not yet practicable for of powder, and 47 pieces of artillery.] assault; and considerable progress has

Our loss in the twenty-four hours did been made in effecting a breach on the not exceed 250 in killed and wounded.-eastern front of the Castle. The garrison of fort Olivia consisted of

(To be continued.)

Published by R. BAGSHAW, Brydges-Street, Covent - Garden :-Sold also by J. BUDD, Pa!l-Mall,

LONDON :-Pripted by T: C. Hensard, Peterborough-Court, Fleet Street,

VOL. XX. No. 2.)

LONDON, SATURDAY, JULY 13, 1811.

[Price 1s.

BEING AN EXAMINATION

OF THE

IN A SERIES OF LETTERS

It is not that the money which the Public Creditor receives, as interest for his capital, is less than “ it used to be; it is that the quantity of goods he receives for his money is less ; and he will be still " receiving less and less, while your taxes will be rising more and more. If the next Administration" (Addington was just at this time coming into power in place of Pitt) “ mean to go ou like the last, it “ would be a good thing for the country if no man would lend them a groat. Let them take three“ fourths of a man's interest, or property, from him, and take off the taxes, and the people would be "doubly gainers. If you reduce the National Debt, we may laugh and sing at home and bid defiance " to all the world; if you do not reduce it, the consequence will be, that, instead of paying the National “ Creditor 120 quartern loades for a year's interest of his £. 100 you will go on, till you only pay him * 2 or 3 quartern loaves. Depend upon it that will be the fate of the National Creditor."" -Mr. Horne Tooke's Speech, in the House of Commons, 2nd March, 1801. 33]

[34 TO TH READER:

the railers have ceased, or ever will cease

their railing, as long as they have tongues With my next Number I shall pub- or pens wherewith to rail. The House of lish an additional Sheet, containing the Commons, the Honourable House, ejected

MR. Tooke from amongst them, soon TABLES OF CONTENTS, INDEX, &c. after he made this speech. They did to the last Volume.

so upon the ground of bis being a clergyman in Holy Orders! No matter : they

got rid of him ; but, they have not got PAPER AGAINST GOLD: rid of the event that he foretold. Oh,

no! that is coming upon them in spite of all their triumphs over Mr. Tooke and Mr. Paine and Messrs. Muir, PALMER,

MARGAROT, GERALD, WINTERROTTOM, Report of the Bullion Committee:

GILBERT WAKEFIELD, and many others. The government beat all these reformers; they not only put them down; they not

only ruined the greater part of them; but TRADESMEN AND FARMERS

they succeeded in making the nation beIN AND NEAR SALISBURY.

lieve that such ruin was just. Well. The government and the nation will now, of

course, not pretend, that the pres events LETTER XXVI.

have sprung from the Jacobins and ReMr. Horne Tooke and the Reformers - Effect formers. Mr. Tooke told them to reduce

of Lord King's Example-Two Prices -- the National Debt. They rejected bis How these would affect the Government,

advice. They despised his warning. the Generals, the Judges, the Sinecure They turned him out of parliament. Weil

. Placemen and Pensioners— Lord Morning

Let them, then, not blame him for what ton's Speech in 1794-Progress of the As. has since happened, and what is now comsignats in France --Mr. Perceval's Speech ing to pass. in the House of Commons, 9th July, 1811.

I beg you, Gentlemen, to reflect well GENTLEMEN,

on tbese observations; for, such reflection Look at the motto! Look at the motto; will be very useful in preventing, you and, especially, if any of you should un from being deceived in future, and will fortunately be fund-holders ; in that case, enable you, when the utmost of the evil let me beseech you to look at the motto. comes, to ascertain who are the men who They are the words of a very wise man. have been THE AUTHORS OF THE They were spoken, you see, rather more EVIL, and to whom, accordingly, you than ten years ago. The speaker was ought to look for a just RESPONSIBI. laughed at by some, and railed as by others; LITY. But, upon this vital part of the but, I imagine, that, at this time, those, subject I have some hints to offer to you who then laughed, are more disposed to hereafter : at present I must return, for a cry, though I by no means suppose, that while, to the point where I broke off in

C

TO THE

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