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Fuller, when the classic, recondite, and luminous statements of Sinclair dazzle, and at the same time delight, our minds. What can be finer than the dipping the Bullion Committee in any of the three great united rivers? The question of the depreciation being now put to rest, he naturally wishes the Bullion Committee to be composed to sleep, to which nothing is so conducive as immersion in cold water
Transnanto Tiberim, somno quibus est opus alto.
His allusion to the Chinese, who have plenty of silver but no coin, is ingenious, and quite in point; but his six advantages are so admirable, that they deserve to be written in gold at the Royal Exchange and the Bank, and be framed, glazed, and hung up in the apartments of every private house.
Advantage 1st.-Paper can be easily procured and secured. This is clear and cogent, and peculiar certainly to paper; for gold cannot now be procured at all, and therefore any endeavour to secure it is evidently superfluous.
Advantage 2d. It may be produced to any amount. In the convenience of this advantage, Mr. Perceval and the Bank Directors will cheerfully concur.
Advantage 3d.-It allows the gold to go out of the country; e. g. to pay our troops in Portugal, who are Jikely to stand much longer in need of guineas, as hostilities are again commencing seriously in that *country.
But Advantage 6th is the greatest of all advantages, and was accordingly loudly cheered by the Chancellor of the Exchequer-Public Loans are raised with ease! Excellent advantage!
Now then has Sir John, in addition to the other services done to the country, avowed the intentions of the Ministry-he is their trumpeter, their champion,
their man in brass armour sitting on a black ram. Be it therefore ordained, that the question of the depreciation is put to rest for ever-war, which can only be carried on through the status quo of our depreciated currency, is the order of the day-therefore not a single syllable more on the question. So be it, says Perceval, through the organ of Sir John. Then to Sir John will the English people wish, for his services in their cause, Health and Longevity, and a speedy sale to the first edition of it.
The observation on the quartern loaf, and its not being influenced by metaphysicians, is worthy of Frederick and Sir John Sinclair. Metaphysicians, alas! are but small eaters, and their impression upon the loaf is. slow and cautious. It was reserved for Pitt, who was no metaphysician, to work this change on that great criterion of real wealth. Before the year 1797, and the Bank restriction, the price of the quartern loaf was 74d.; and since that period, along with every other necessary of life, the price has gradually doubled.So much for the artificial system of finance !!!
Thus then, People of England, after seven days solemn deliberation of your Representatives, the vital question of your circulating medium is determined by the fiat of your Prime Minister. The paper currency is no longer held out to you as a temporary expedient, but as a permanent system, excellent and salutary, involved essentially with your commerce, and indispensable towards carrying on a just and necessary war. Let no man therefore henceforward complain, or ever ask for, or ever dream of, a guinea, under the penalty of being considered a disturber of that grand and por tentous system of salvation concerted for us by Spencer Perceval and his colleagues. In their hands we are; and may God send us a GOOD DELIVERANCE
READ! MARK! AND INWARDLY DIGEST ! [From the same, May 20.]
ALL agree that our Bank Paper is depreciated abroad; some contend that it is not depreciated at home, but answers, to all the intents of internal intercourse, the purposes of money. Listen then to me, ye non-depreciators, while I tell you, that I went to buy a quantity of flour-having, upon my arrival in the market, one hundred guineas in one pocket, and one hundred pound notes and one hundred shillings in the other pocket. I happened to meet with Mr. Perceval's valet-de-chambre, and found that I could get precisely the same quantity of flour for my guineas as for my pound notes and shillings, and I was just going to part with the former, as they were really weighing down my pocket, when a little swarthy fellow drew me aside, and whispered, that as he had no objection to the burden of gold, he would not only ease me of it, but give me twenty pounds into the bargain; so that, quicker than thought, I found my guineas gone, and one hundred and twenty-five pounds in my hand in lieu of them. I then returned to the market, bought my flour to the amount I originally intended, 105l. and brought home the twenty pounds to my wife, who was as much surprised as overjoyed, and ran immediately to pay her mantua-maker's bill, and purchased a hat and feather for our little Billy, as promising a child for his age as I think I ever beheld. Now, let me ask, is the case of internal depreciation proved, or is it not? If it be, Mr. Perceval is wrong! if it be not, Heaven help the mantua-maker, for I have her receipt in full upon the file!
[From the Morning Post, May-20.] 1.
By vote of thanks, which late I found so cheap,.
The dull copartners of my folly weep.
For me no more the flaming press shall teem,
Nor lick my feet the ill-got wreath to share:
The snuffman bawling to the throng misled;
Of weekly scribes, can raise my drooping head.
How laugh'd the crowd at ev'ry hackney'd joke!
If memory to my name no trophies raise, Where in the ample page, with zeal unbought, The pen historic gives the meed of praise.
Can golden box*, though worth a hundred pound,
Or flatt'ry shield him from contempt and shame?
The boast of popularity's short hour,
And all that faction gains by means most base, Await alike exposure, dreaded power !—
The paths of folly lead but to disgrace.
Yes; still my name to rescue from neglect,
For who, to dumb forgetfulness a prey,
Such pleasing transient laurels e'er resign'd,
Some pious souls its frustrate arm admires ;
For ye, who mindful of my honours dead,
Some crazy patriot shall inquire my fate,
"Oft have we seen him, ere the evening fall, Brushing with hasty steps along Pall Mall,
To meet Lloyd Wardle at the House's call.
"There to the nodding Members, luckless wights!. In hackney'd strains, till midnight would he preach: 'Bout Magna Charta, and the Bill of Rights,
And prate of things far, far, beyond his reach.
The City Box, refused by the Prince Regent, was 'proposed by draper Waithman to be given to the Baronet if his cause had suc ceeded; but, alas! it is destined again to go a-begging.