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being equivalent to saying that he had than they cost him, and made up for too much of riches," and so on.
the loss by fresh issues of paper. To Such language is held only by men say, therefore, that no man can overwho never study foreign trade, upon trade himself, or that Birmingham has which, however, the wealth and im- not overtraded itself for some years portance of all countries depend. They past, is downright nonsense, and too never speak of foreign exchange-the ridiculous to reply to. But the Bank wretched effects of its frequent varia- all the while receive hundreds of thoution, &c. Others are those, who are for sands for the interest of this paper, and the most part young and sanguine, or the country banks get as much by their persons only engaged in the home trade, additional issues, besides their fees of or men of limited capital, who think postage, commission, protesting, &c. that by a facility of getting discount they all which is a tax upon trade without promote the increase of their trade. increasing the trade one sixpence. Old stagers, and men of capital, not As to increasing a trade, it is imdisposed to overtrade themselves, are possible to increase it beyond consumpseldom found to talk in this way, what. tion ; no human effort can push trade ever selfish bankers may do.
beyond it. A man who wants a spade There are only three Banks at Man- that cost the maker 2s. 6d. if he can chester, where the returns are ten times buy them for Is. each, will he buy the amount of Birmingham; the reason more than he wants ? Can he use more is, that they pay only in legal currency than one at a time? It is the same with (new Bank-notes), and manufacture no every thing else. At this moment there rags of their own. Liverpool is the are goods, at New York, that no one same as Manchester, and if the Bank will buy at any price; say, card wire, of England paid in coin, instead of six used to make cotton or wool cards for Banks at Birmingham, there would their manufactories, and many other not be more than three. When the articles; here then capital has provided Bank pay in coin, they cannot issue goods, but it does not cause the actual beyond a certain quantity of paper: if use or consumption of a single ounce they do, it will always be brought back more than the natural wants of manfor gold payment; and this is their na- kind require. Other articles have been tural check against an over-issue. All sold at auction for 9s. and less, that the paper issued by the Bank of ex- cost 20s. Will a man or a woman wear change for mercantile bills is bottomed two pair of stockings, or two gowns, or on real property. All beyond it is fic- two coats, merely because the price of titious capital. If the Government give them is less than half the maker could them 10 millions of Exchequer-bills, get them up for? No! but he will, on and they give the government 10 mil- the contrary, purchase what his neceslions of Bank paper, this last is circu- sities require at the lowest price, and lated through the country, together the return of property to this country with those Bank-notes given for mer as payment for such goods is diminished cantile bills, and they (the 10 millions) in proportion, or perhaps nothing at all are fictitious capital-assignats in the is returned to us. The nation so far shape of Bank-notes. The amount is, trades to a loss. Manufacturers are perhaps, quadrupled by the country unemployed, and they discharge their bankers' local notes : the whole passes workmen, and a scene of general' and from hand to hand, causes the manu- extensive distress is sure to follow. facture of goods that would not other. The Bank and bankers, however, are wise be manufactured, and being more sure to gain. than the market requires, which would It may be conceded that excessive be fully supplied with the real capital cheapness will encourage consumption, of the country, without any part of the and increase it to a given extent; that fictitious money, the said goods are ul. a man will buy a new spade or a new timately sold to a loss; great part of coat before the old one is worn out; them is exported as so much productive but if this stimulus to consumption has industry, and are sold for little or no- already been given as far as trade can thing beyond the foreign duties and be carried on to a profit, all further 'expences. This is the history and the increase of consumption can only be
consequences of overtrading as a com- the result of a trade carried on to a loss, ·munity. A single individual frequently of course the greater the consumption runs the same round. Ferraday of and the more we sell the poorer we are. Bilston did it. He sold goods for less No man can tell the time when orders for our manufactured goods than useless, it is sure to do harm ; but either for home trade or foreign, were by association of ideas, honesty, indusrefused for want of capital. Then if try and prosperity have been conjoined: we have capital enough for all the now whatever the transcendent genius orders we can get, if we can supply all of a Birmingham banker may discover parts of the world with as many goods in all this, I, as a tradesman, possessing as they are disposed to make use of, or but common sense, only know that can give us any thing for in return, when I am paid for my industry it is that we deem a sufficient remuneration prosperous, and vice versa, and that if -if we can do all this with our own the manufacturers are not paid by the capital, what necessity is there for merchants, nor the merchants by their more? Is the iron trade now cramped correspondents, the industry so lost is for want of the fictitious capital of the like the industry of so many monkies, houses that have lately failed at Bilston, who are said to do mischief through Tipton and Wolverhampton? What mere activity without being at all aware folly then and nonsense to talk of the of the evil they occasion. Manufacadvantages of forcing a trade by ficti- turers of Birmingham and its neightious capital, and of pushing a trade bourhood, have, the great mass of them, beyond demand. The man that thinks but small capitals; hence, from a well it possible or feasible, is either very known principle in trade, the smaller ignorant or strangely deluded by self. the return the larger the profit, which interest. Ruin, distress and misery is kept down here as elsewhere to its always have, are now, and always will proper level by competition; but such be, the effect of this system. Trade persons are delighted with orders of gets into the hands of unsound or dis. 1001. or 5001. amount, which add mahonest merchants, and is taken out of terially to their means if they get paid, the hands of men of real substance and induce them to run risks which a Birmingham is not only a proof of all London tradesman, having only 10 per that I have stated, but it has actually cent. would avoid. The Birmingham suffered more than any other part of manufacturers, therefore, require prothe kingdom, and the manufacturers tection by a recurrence to cash payare the deluded victims of speculating ments and limited discounts; and it merchants and discounting bankers. this does not take place much of the All that I know of a stimulus to industry Birmingham foreign trade will be ruinis the same as of all other stimuli, if it ous to all fair traders. is unnecessary or unnatural it is worse Birmingham, March 10, 1820.
At whose soft touch the iron chain,
THE NIGHTINGALE. (Adapted to Owen, a Tragedy.) ITAIL, sweet Zephyr, breath of spring,
L O'er wintery waste appearing ;, In bloom of youth, on airy wing,
Fraught with hope and smiles endearing. Balmy winds of evening blow,
Wafting sweets from every bower, Will Zephyr now his flight forego,
And give to love the peaceful bour
And by me would thus prevail,
Follow, then, the Nightingale.
A constant theme for poets' lays,
ODE TO LIBERTY.
Deep in a dungeon, see that wretch forlorn,
bourne Where he may meet with happiness and
Like thee, he once in peaceful comfort dwelt, The base designs of tyranny ;
With Public Credit springing thence,
But vainly thought his happiness complete. With footsteps gay, advance along. Long had he fondly loved, nor loved in vain,
To thee, then, Liberty, I raise A beauteous maid, of every grace possest;
id, of every grace possest; My humble song in notes of praise, At length, fast bound in hymeneal chain, · Himself be deemed the happiest of the
And may'st thou long o'er Britain's isle,
Continue graciously to smile ; blest.
In vain may lawless despots strive Scarce had he left the altar, when a band Thee from Europa's shores to drive, . Of heartless ruffians from a neighbouring But as the poplar midst the storm, close,
Tho' rudely bent, regains its form, Seized and conveyed him to a distant land, So, in the struggle, may'st thou rise No more to tasie the blessings of repose. Triumpbant o'er thine enemies ;
May those, who would the world enthral, Four months in slavery his fate he wept,
A sacrifice to Freedom fall, At length his sufferings urged him to While all niankind may nobly vie escape,
In spreading glorious LIBERTY. But quickly caught, in close confinement kept,
THE WORLD. · He cursed those demons in a white man's
ONCE all were kind and I was gay,
The gayest maiden in the throng-
Without a murmur danc'd along. of joy, And frolicsome mirth came his grief to I knew not then the social masks destroy,
Which hide the fiendish serpents' wile, Festive notes met his ear,
I knew not then the cruel tasks
That men sink under as they smile.
I felt not then how little scope
There was for faith, for hope, and song. were knock'd, “ Cease to grieve, and rejoice,
Alas! I now for life repine, “ You are free !" cried a voice,
Not that they're fled, but that they once were “ No more to steal African youths shall they
mine! MATILDA BETHAM. come, No more by base perfidy drag you from home!
UBIQUE LABOR. Filled with joy and quick surprise,
EcQuam quisque viam vitæ secet? ecria Rapture sparkled in his eyes;
tantùm “ And shall I then once more," he cried,
Jurgiaque, et lites aggerit omne forum: “ Behold my dear, my much-loved bride;
Cura domi est, et rure labor; maris æquor Once more regain my native shore,
aranti Ne’er (let me hope) to leave it more?
Horror adest; peregre si quid habes, metus O Liberty! thou valued blessing,
est; Which men feel not while possessing,
Si nihil, hoc miserum ; sequitur connubia The hapless slave, whose withered form
tristis Shews he has felt life's angry storm,
Anxietas; careas conjuge, solus eris: Whose care-worn countenance betrays
Sollicitat soboles, orbatque carentia prolis; Remembrances of happier days,
Stulta juventa fere est, firma senecta In thee would find a sure relief,
parùm: A remedy for all his grief."
Alterutrum ergo optes, aut nunquam in luThe nation that possesses thee
minis oras Shall ever greatest, richest be; .
· Venisse ; aut natum morte repente frui. At the mere name of Liberty; While in thy train a num'rous band
TRANSLATION. Thy steps shall follow hand in hand.
Who can decide the course to take in life? First Trade and Commerce, led by thee, The courts of law, are constant brawl and With vessels swift shall fill the sea;
strife ; . Next Education shall arise,
A house our care, a farm our labour calls, The minds of men to civilize,
Who plough the main, dread horror oft Apd teach them firmly to defy
A journey sound,
A journey take; some secret fear ascends, They saw reflected on their darksome way, And misery a life of sloth attends;
The dawn auspicious of a brighter day. Connubial bliss anxiety destroys,
There Piety with wishes placed above, But cold celibacy imparts no joys;
Led her fair offspring, Patience, Joy, and Children increase a parent's tender cares,
Love : And sad orbation oft excites our tears; There Mercy dwelt, a sweet celestial guest, Folly in youth triumphant rules the mind, And Freedom flourished in a land of rest; To riper reason short the space assign'd: Industry strew'd the riches of his load, We then should wish, we ne'er had seen the And blooming Temperance own'd the blest day,
abode. Or born, by death be early snatch'd away. The Hunter saw, with rapture and surprise, MUPHATAMET. Fields wave with plenty, goodly dwellings
rise ; On the SETTLEMENT of PENSYLVANIA by
And all the joys which social life endear, WILLIAM PENN.
Where virtue triumphs, and her ways appear. When Tyranny o’er England's rights pre
No fierce explosions, no terrific freise, vail'd,
No standards floating proudly in the breeze, And bigot rage her virtuous sons assail'd;
No rallying drum, nor bugle's martial When persecution raised a bloody hand, And scattered horrors o'er a trembling land ; Reverberating through the glens aroundPenn taught a patient persevering train,
No frowning battlements, nor gleaming To brave the billows of th’ Atlantic main;
arms, Not with the frantic lust of conquest fir’d, .- Rous'd the red warriors' slumbering alarms! Nor with the sordid dreams of pelf inspired ; The wild and gentle met, and smoak'd at No base desires impell’d them to award
ease, Dire ills to others which themselves abhorr'd; The all-co
The all-composing calumet of Peace; No implements of death, nor chains, or The Tomahawk the woodman's axe became, scourge,
Or buried deep, had lost its deathful fame; Oppress'd the gentle bosom of the surge;
The belt of friendship by the grandsire A nobler freight the treasur'd vessel bore,
worn, Arts, Knowledge, Comforts, to Columbia's
An honor'd legacy, adorn'd the son. shore.
And Penn's illustrious name shall long be Just was the enterprize, and great the plan,
found, To tame, by mild example, savage man; Proclaimed with blessings, and with honours With charms of gentle intercourse to bind,
crowned. The warlike to the peaceful of mankind.
Paternal wisdom ruled with steady band, The dauntless leader of a blameless band,
A happy people, and a prosperous land ; Approached, with heart sincere, and prof. And though surrounded with a warlike race, fered hand;
Inviolate remained the sacred place; Assembled chiefs, with mute attention
Protecting Heaven had touch'd the savage heard, Sounds unaccustomed in the stranger's word,
And lull'd its fiercer passions into rest ; Calm'd were those restless passions, fierce Whilst strong in faith, and conscious rectiand wild,
tude, Which Nature gives to her untutored Child ;
In unmolested peace the Christian stood, Stern warriors dropt their arms, and wonder
Fearless he rested in a sure defence, ing stood,
The eternal safeguard of Omnipotence. Convinc'd their reason, and their hearts sub
Long shall that day meridian lustre cast dued ;
And shine with real glory on the past; For truth of eloquence divine possest,
A new and noble triumph of the mind, E'en finds an echo in the savage breast-".
Has richly grac'd the annals of mankind. Beneath an elm, the monarch of the wood,
The true philanthropist shall bless the hour, (Which long a reverenc'd memorial stood) Were witness'd deeds of light, by man re
When barbarous passions bow'd to reason's
power; nowned, Which Heaven approved, and Angels might Shall mark that course as beauteous Wisdom's
way, have owned.
Which tam'd the warrior with a gentle sway, A guileless treaty with a simple race,
And when the rulers of the earth have tried, By Justice built on Truth's eternal base; A compact worthy of the gospel age,
On Christian principles, mankind to guide,
His ardent and enraptured eye shall see
Meet union between Peace and Liberty.
See mercy, equity, exalted stand, A model of true grandeur shall remain.
Diffusing blessings o'er a smiling land, Then the poor children of the forest saw And Truth, with her resplendent roll unfurl'd, The Christian name adorned with christian Benignant leader of a happy world. law;
· BIOGRAPHY OF EMINENT PERSONS.
where he was soon distinguished as the powerful competitor of two class-fellows, whose good fortune and talents have since raised them to the highest situations in the state, Mr. Fitzgibbon, late Chancellor of Ireland, and Mr. Forster, late Speaker of the House of Commons. He afterwards resided in the Temple, in London, and was intimately acquainted with Hugh Boyd, and Mr. Eden, afterwards Lord Auckland, and suspicions are entertained that they were the conjoint authors of the famous letters of Junius. After taking a degree, Mr. Grattan was, in 1772, called to the Irish bar, and for a few years attended the four courts with
an empty bag, and a mind too elastic THE RIGHT HON. HENRY GRATTAN, to be confined to the forms of pleading,
late M. P. for Dublin, &c. &c. and too liberal to be occupied by the TT may not, perhaps, be too much to pursuits of a mere lawyer.
I assert, that the British empire has D isgusted with a profession, in which produced men of as splendid genius he perceived he would never rise but and acquirements, in every department by habits to which he could not crouch, of arts or knowledge, as either Greece he retired, possessing from his father, or Rome had to number among their who was now dead, a patrimony which eminently great. But if we have failed secured him independence. It was not in any mode of excellence, it has not long before he was made known to Lord been as orators and statesmen, Chat- Charlemont. By his lordship, who had ham, Fox, and Burke will stand on a always shewn equal sagacity in discolist as fit companions of the noblest vering, and zeal in promoting genius, orators and statesmen of antiquity. he was returned to parliament for his Grattan is a name entirely worthy to borough of Charlemont. Entering into be placed in the high rank we have the legislature under such auspices, it assigned to the three former British was natural to expect that Mr. Grattan statesmen. His eloquence combined in would become the advocate of his then it all that is forcible in reasoning, suffering and dependent country. Iresplendid in ornament, and irresistible land, indeed, at that time, was in a in passion. If any of our great senators state of perfect humiliation, being conhas excelled him in any one of the great sidered merely as a province to the qualities we have named, we are per sister country. Her legislature was a suaded no one has, more completely petty council, incapable of originating than himself, included and combined laws; and her courts of justice suborthem all in his various orations. Greatly dinate to those of England, and incomas Mr. Grattan has been admired in petent to a final decision : destitute of England, none of his historians or cri. foreign commerce, from which she had tics have as yet done him complete jus been excluded by British monopoly, tice. This eloquent and patriotic states- her manufactures were crushed, and the man was born in the year 1751. His industry of her people checked for father, who was an Irish barrister, and want of encouragement: in short, disRecorder of Dublin, had derived from content, bankruptcy, and wretchedness, his talents and reputation for integrity covered the face of the country. a competent share of practice in his To evils of such magnitude, which profession; but he was not rich, and the calamities brought on by the unyoung Grattan had been early taught fortunate contest with America greatly. to depend, for his future fame and aggravated, the narrow policy of the fortune, on the exertion of his own times was applying temporary palliapowers.
tives. Subscriptions were collected, to At the usual time he was entered a keep the artificers from famishing; asstudent of Trinity College, Dublin, sociations were formed to wear only do