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VOL. XX. No. 3.]
LONDON, SATURDAY, JULY 20, 1811.
“ I maintain, that all Europe is contemplating the payment in specie at the Bank as the criterion " of the credit of the country. If the Bank continue to issue paper without controul, the Country Banks " will do the same. They will pour out their notes upon us without mercy; and we are now BEGIN* NING A COURSE OF ASSIGNATS.............Loud cries of Order! Order! Question! Question ! " Question ! from every part of the House." MR. ROBSON'S Speech, in the Honourable House, 2nd April, 1802
“ By these WISE and provident measures (the measures relating to the Bank Stoppage) all tha apprehensions that were entertained are vanished : the credit of the Bank is as high, both at home " and abroad, as it ever was; and, not the slightest inconvenience possible is, or has been, experienced “ from its not paying in cash."-OLD GEORGE ROSE. Brief Examinatiou of the Finances, published first in 1799, and republished in 1806. 65)
[66 TO THE READERS.
of the Honourable House ; that he was
hooted out of countenance, and, you may The Extra Sheet, containing the TABLE
see in the history of that day's proceedOF CONTENTS and the INDEXES to ings, that he was obliged to sit down and to the last Volume, has not been quite What was the folly he was guilty of? Why,
hold his tongue. And yet, what did he say? finished in time for publication this foretelling precisely what has now come week; but, it will certainly be published he recommended upon the occasion here
And, I beg you to observe, that with the next Number.
referred to a controul as to the quantity of paper to be issued by the Bank, a measure
now recommended by the whole of one PAPER AGAINST GOLD: parly in the Honourable House and by
part of the other party; and, though I am BEING AN EXAMINATION
not one of those who think that it would
have been possible to save the paper by Report of the Bullion Committee :
the means of any such controul; still, the
proposition is now put forward as the only IN A SERIES OF LETTERS
one that can restore the paper to its former value. Yet did the members of the Ho
nourable House boot Mr. Robson down; TRADESMEN AND FARMERS
they coughed and laughed and hallooed IN AND NEAR SALISBURY.
him off bis legs. Ah! but those times were very different from the present. The
enemies of truth were then strong. They LETTER XXVII.
had not as yet seen the guinea at a preMr. Robson's Proposition George Rose's mium, and the bank note at a discount.
“ blessed Comforts” - The Nature and Ex- Faith! they have a great deal more to see tent of these Comforts-Great use of ascer.
yet: what they have to see they can taining them-Necessity of discovering who scarcely guess at. Much good may it do has got the Money that has been borrowed them. They hooted down Mr. Robson ; on account of the Public - Case of De they had their own way; and, therefore, Yonge.
let them not complain when the days of
their humiliation shall arrive. GENTLEMEN, BEFORE I resume the thread of our dis The second motto calls to our minds the cussion, which was rather abruptly broken means that were, and that, all along, have off at the close of my last Letter, give me been made use of to deceive the people as leave to beg your attention to the two pass to the finances in general, and especially sages, which I bave, upon this occasion, as to the state of the paper-money, in taken as MOTTOS.
which work this George Rose' as borne a
principal part. He was, for many years, You see, that Mr. Robson was called Secretary of the Treasury under Pitt, by to Order; that he was run down by all parts whose authority this publication was made
in the name of Rose. In short, he has , “ of which to a successful issue is to been a great actor in the drama, which is " secure is in the enjoyment of every nanow drawing to a close ; and he is one of “tional advantage, and to protect us from lhe men, of whose past conduct it will," the infliction of every national calamity. hereafter, be necessary, absolutely neces “ The imperious and awful necessity of sary, to give the history. “ Not the slightest the present crisis unavoidably subjects “ inconvenience." No, not to George Rose, “ us to heavy burdens. It has been said perhaps; but, could the rest of the nation“ that they ought to be considered as a say so? Could they say so, out of whose " SALVAGE for the remaining part of our taxes George Rose was getting about ten property. In the consideration of prothousand pounds a year? But, there is ano “perty, to which it was applied, the figure ther passage in this same publication of " is sufficiently striking; but, in other reGeorge Rose, to which I must beg leave “ spects, the metaphor, though just, is into solicit your attention, of which it is well " adequate. What Tariff shall settle the worthy,
« différence between national independance
" and inerorable tyranny ? between personal “ There is a time for all things,” and “' liberty and requisitions, prisons, and murnow is the time for reminding the people“ der ? between the BLESSED COM. of England of the means by which they “ FORTS OF RELIGION and the gloomy have been deluded. It was in vain to en despair of Atheism?” deavour to open their eyes before ; but, now, perhaps, they may be induced to Well said, Old George Rose! This was make use of their senses. The following the sort of language by which the nation is a specimen of the means employed to was led on in the former war. The cant delude them, at once to whecdie and to scare does, indeed, no longer take. It has not them into a quiet surrender of their money. the powers that it possessed ten years ago; I beg you to read it with attention; and but, still there is cant in the nation, and you will, I hope, be ashamed at having we ought to be constantly upon our guard been deceived by lies and hypocrisy so against it. “ Between the blessed comforts glaring. " As the amount of the debt, which " " of religion and the gloomy despair of “ will be incurred, in this and every sub- " Atheism !" Why this, Gentlemen What
sequent year of the war, will be so re- had the blessed comforts of religion to do "duced by the application of the money with the matter? How, if any of you bad “ coming in from the tax on income (after had the spirit to put the question to him; " ten millions shall have been raised for how were the blessed comforts of religion " the service of each current year), as that to be taken from you by the French Repub“the permanent debt, which will be left licans ? How were those blessed comforts "as an addition to the antecedent one, to be secured to you by a bloody war “ will not exceed the annual amount of against those republicans? In short, what " the whole produce of the sinking fund. had religion or atheism to do with the “ This is A TRUTH so important, that it matter? What an impudent thing to tell “cannot be too often or in too many you, that, if you did not part freely with " shapes exhibited for the satisfaction of our your money, you would be plunged into “ country, for the conviction of our enemies, the gloomy despair of atheism! What an "and for the information of Europe. If impudent ihing was this! But, let us see “ France has built hopes (founded on ig. what George Rose really meant, when he “ norant or visionary calculations), on the was talking about the blessed comforts of re" expected overthrow of our financial sys- ligion and the salvage upon your property; o tem, and bas trusted to the failure of our He says " salvage upon OUR property ; “ resources, she may now perceive what but, we shall soon see what sort of salvage
means, after so many years of this ardu- he paid. You were to pay salvage, but ha "ous struggle, Great Britain still possesses did not tell you to whom. He did not tellthe “ for maintaining it. It would be a slan- " thinking people,” that he himself was one "der to the sense and virtue of the people, of the great receivers and pocketers of the “ to suppose an abatement of that spirit which said salvage. Yet, at the time when he “ has enabled government to call forth those wrote he and his sons were, and they now “ resources, The prosperous state of the are, in the receipt annually of public “ empire which affords the power, fur- money to the following amount: “ nishes all the motive, for continuing OLD GEORGE Rose, as Treasurer " the contest; a contest, the support of the Navy...................... £. 4,32+
OLD GEORGE Rose, as Clerk of and eighty pounds; and, if we add the intethe Parliaments, which is a Sine rest, the amount is about £. 323,000, in cure, and is for his life, and is grant words, THREE HUNDRED AND TWENed also for the life of his eldest son TY THREE THOUSAND POUNDS, YOUNG GEORGE Rose............ 3,278 nearly two thirds of which has been re
OLD GEORGE Rose.-Keeper of ceived for sinecure places, that is to say, for. Records in the Exchequer, another doing nothing. sinecore place.......
400 WILLIAM STEWART Rose, second
Here, are “ blessed comforts of religion !" son of Old George Rose, as Clerk of The thinking people, “ the most ihinking the Exchequer Pleas, which is also “people in the world” were desired to be a sinecure place.......
2,137 lieve, that unless they paid this and other
such sums, they would lose all the “ blessed £ £. 10,139 "comforts of religion,” and would be
plunged into the gloomy despair of atheism ; Such was the sum which “ the blessed that, in short, if they did not continue to " comforts of religion” yielded to this pay these sums of money, they would all man : no wonder, ihen, that he felt an un go to hell as sure as they were born. Oh, common degree of horror at the thought “ most thinking people !" of seeing those blessings supplanted by the “ gloomy despair of atheism,” which, But, Gentlemen, now let us apply what of course, being interpreted, meant the has here been seen to the subject before us. loss of this ten thousand pounds a year ! | I observed to you before, and, indeed, So you, the people of England, yea, " this proved to you, that the measure of Lord " most thinking people in Europe, as Lord King was rendered necessary by the difSTORMONT (who, by the by, had a fat ference between the value of paper and sinecure) called them, were to pay George that of coin, that that difference has arisen Rose and his sons ten thousand pounds a from the depreciation of the paper, that year in part of the means of preserving that depreciation has arisen from the themselves from the gloomy despair of abundance of the paper compared with atheism! But, observe, Gentlemen, Old the quantity of gold in circulation, that GEORGE Rose has been for nearly ihirty that abundance has arisen from the stopyears in the receipt of large sums annually page of the payments of cash at the Bank, of the people's money.
His salary as that that stoppage arose from the vast irSecretary of the Treasury he had before crease in the amount of the National Debt and he was Treasurer of the Navy, and that the Dividends : all this I have before proded was f.4,000 a year. It is sixteen years, to you, and in a manner, I trust, that you at least, since he got the grant of the of- clearly understand; but, there is still one fice of Clerk of the Parliaments, at stage further to go back, and that is, to the €.3,278 a year, which is just so much CAUSE of the increase of the National Debt! money for doing nothing at all, the office Mark well what I say here, Gentlemen. being what is called a sinecure. How long Mark this well; for this is now, or, at he has possessed the £.400 a year as keeper least, it very soon must be, the great and of the Exchequer Records I do not know; indeed, the only object, connected with but, I believe, twenty years if not more. the paper system, worthy of our attention. So that, I think, we shall not be far from the mark, if we suppose him to have pos In the common concerns of life, in the sessed the whole for twenty years past. affairs of individuals, where interest inWhat other emoluments he may have had, duces men to do the best they can for the bow much more of the public money he prosperity of the concern, we always fiod, may have received, I do not know. His that, in the case of embarrassment, arising son George is, I believe, to have a large from debt, the cause of such debt is looked pension for life for his trip to America; well into by those who wish to retrieve where he did not remain a year, I believe, the affairs of the concern; and, if they altogether. But, these will be matters for find, that the debt has been incurred by another day's reckoning. For the present this or by that species of extravagance, let us see what the above sum amounts to they set to work to put a stop to such exin the course of twenty years. The prin- travagance, and, in cases calling for it, cipal money is £. 202,780. In words, they inquire who it is that has derived two hundred and two thousand, seden hundred gain from the creation of the Debt. And,
why should not we do this? Why should have taken any part of the money to themnot we, in our present state, inquire who selves or given it away, that opens to us a have, if any persons have, gained by this most interesting view of the matter. increase of debt; or, in other words, whether there be any persons, who have been Well, then, in looking over the account receiving, for the last twenty or thirty books of the nation for the last twenty or years (we may stop there,) large sums of thirty years, I find several large sums paid money out of the loans, which loans have to OLD George Rose and his sons, and I added to the Debt? Why, in short, should fiod, too, that the far greater part of it has not we look with this sort of eye into our been paid them for sinecure offices, that is affairs ? The nation, this " most thinking to say nothing-to-do-Ofices. I put these “ nation," seems here again to be deluded. sums together, I calculate the interest upon The public were getting into motion : it them, and I find them, together with the was impossible to keep them quite quiet interest, amount to 323,0001. or thereany longer : but, it was easy to throw abouts. So! say I, here I have, then, disthem off upon a wrong scent; and, for this covered the cause, in part, of this embarpurpose, the halloo against LO'RD King was rassment in our affairs. If this money had set up. But, “ steady" nien of England ! not been given to the Roses, the nation “ Solid” men of England! Thinking, would vot, of course, have been so much in “ most thinking people” of England ! Do Debt, the Dividends upon the interest of not, thus, to the last, expose yourselves to the Debt would not have been so large, the ridicule and contempt of the world! the Bank Company need not have made Let me beseech you not 'io be dupes and so much paper to pay the Dividends with, gulls to the last moment !
the run upon the Bank would not have
taken place so soon, the stoppage of cash What, considering us as rational men; payments would not have been called for considering us as intellectual beings; con- at so early a period, the depreciation sidering us as creatures having souls in would not have come on so fast, the gold our bodies; considering us as something would have been longer in arriving at a superior to the beasts that perish : consi premium, and LORD KING would not as dering ourselves in this light, what, I ask, yet, at least, have given the notice, which have we to do with the manner in which has led to the Bill now before parliament. LORD KING, one of the land-owners, wishes to settle with his tenants for their rent? I shall be asked, perhaps, what signifies Let him, in the name of common sense, 323,000l. when the Debt amounts to manage his affairs in any way that he 800,000,000l. My answer is, that millions likes best; and let us endeavour to 're are composed of ones ; and that no sums trieve our affairs. With this laudable de. are so large as those which grow out of termination in our minds, and being con. many small ones. But, is this a small sum? vinced that all our embarrassments arise Look at it! It is a 2,500th part of the whole from our Debts, let us look back into our of the National Debt. Think of that! I books for the last twenty or thirty years, may have made an error in my estimale ; and see how we bave got rid of our money. the Roses may not have had this income We have always had a large income, and yet for so long a time, and I may have comour AGENT, for the time being, bas been bor initted an error in computing the amount toring money for us. This may possibly of the interest; but, if I am right, as I have been necessary; but, at least, let us not think I am, under the mark instead of over act the part of careless men in common the mark, then have these persons, this life, who, in spite of circumstances enough one family, and, indeed, one member of it to awaken suspicion in credulity itself, chiefly, received, from the nation, in prinstill confide in a plundering sharper. Let cipal and interest, a 2,500:h part of the us look into our books; let us look back whole of the National Debt eren at this into our old accounts, and see what our day in existence. AGENTS, in succession, have done with our money. Our income they have expended, Here we are upon the TRUE SCENT; they have made prodigious loans in our Gentlemen; and, I am quite satisfied, that nanie, and have charged us with interest all the ballooing and hooting and doubling upon them : let us see, then, to whom and and luring in the world will never, in the for what they have paid away all this end, prevent us from having success in the money; for, if we should find, that they chace. A 2,500th part of the whole Debt
mind; but, of the Debt created within the made Atheists by the French Republicans, last twenty or thirty years, it will make this claim is good. Those who could be about 1-800th part, So that, if my cal- made believe that must be of so stupid culations be correct, George Rose and his and so base a nature as to make them Son (without including the value of the wholly unworthy of the attention of him, reversionary grant or of the Endoy's pen- whose object is happy and free; because sion) hare, during the last twenty or thirty such people must have been fashioned by years, received, in principal and interest, nature to be slaves. What a degrading a sum of money from the people equal to idea! Pay money to prevent myself from « 1,800th part of all that portion of the Na- being made an Atheist! Pay taxes; suffer tional Debt, which has been created during the in silence my estate to be taken from me last thirty years!
piece-meal, and sit quiet while I am told,
that this is necessary in order that the When sinecures and pensions have been French may not take from me " the talked of, you have observed certain per “ BLESSED COMFORTS of religion !” sons set up an affected, horse laugh, as Talk of credulity, indeed! Talk of the if the amount was a mere trifle, a thing to pilgrims who used to go and make their laugh at; but, you see, Gentlemen, that offerings at the shrine of Thomas & Becket! these are not trifles; that they are things Talk of the Priest-craft and gullibility of worth looking into ; and there are few three centuries back! I defy any man to persons, I believe, who have ever had to produce me, from the annals of superstido with embarrassed pecuniary affairs, tion, from any of the records of human who will not think with me, that the sooner credulity or human cowardice, any thing we look into these things the better. For, if which to the character of man is so dewe were, for instance, to find out, in grading as this. searching the Nation's old accounts, 1,800 persons, each of whom has received of the Yet, this was the sort of language made public money, in the last thirty years, a use of by the partizans of Pitt, during the sum in amount equal to that received by whole course of the Anti-jacobin war. GEORGE Rose, then the thing is made There were many tricks played off; but clear at once. There is no more diffi- the grand, the master trick, the never failculty. We, at once, see the cause of the ing fraud, was the alarm at the danger of increase of the national Debt; or, at least, seeing atheisin introduced instead of the we see the means that might have been Christian Religion; the “ gloomy despair employed to prevent such increase, and, “ of Atheism,” says George Rose, instead of course, to prevent the stoppage of the of " the BLESSED COMFORTS of reliBank cash payments, and the consequent gion!” What would I give to have seen depreciation of the paper-money. GEORGE just at the moment of his finishing
that sentence! I should like to have I shall be told, may be, by some per- watched his looks, and, if possible, to have sons, that I forget the services which heard his soliloquy ! " BLESSED COMGEORGE Rose has rendered to the country." FORTS of religion !” He seems totally That is a point upon which men may differ to have forgotten the ten thousand pound a in opinion; but, then, that claim has been year ; but, I trust, that the time is not far satisfied by the Salaries as Secretary of the distant, when that and all other matters of Treasury and Treasurer of the Navy; so the kind will be well and scrupulously at. that, at any rate, there are more than six tended to. ienths of the whole sum to be kept to the sinecure amount; and, as I said before, Upon a future occasion, Gentlemen, I there may have been many and large intend entering more at large into an enemoluments of which I have, and can have, quiry as to what has become of the money borno knowledge. There is, indeed, the rowed during the last twenty or thirty other claim, mentioned in the early part years; but, this I must defer till anothers of this letter, namely, the preserving to opportunity. In my next I intend closing us, the “ most thinking people in the world,” this series of letters, when I shall have seen the « BLESSED COMFORTS of reli- the discussions upon the Bill, now before “ gion;" and, really, I must confess, that, the Parliament, brought to an end. That against those who thought that paying will be a natural point for me and you, taxes and creating national Debts were Gentlemen, to rest at, until something new necessary to prevent them from being and important shall arise, and that that wil