Page images
PDF
EPUB

Daily Price of STOCKS, from 21st November, to 21st December.

[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small]
[merged small][merged small][merged small][merged small][ocr errors][merged small][merged small]

COMPARATIVE STATEMENT

OF THE

INCOME AND OUTGOINGS

OF THE

BRITISH REVENUE,
FOR THE YEARS 1815-1816.

to be, proof against the terrors of af fright; and they survey, unappalled, those distressing objects, from which most of the nations around them avert their eyes, and contemplation. Is it partly derived from the fortitude that gradually emboldens all who have much to do with the boisterous ocean, or are deeply involved in the uncertainties attached to the watery element? Have they been so often in distress, yet have escaped, that they acquire a familiarity with danger, and find strenuous resistance their most hopeful ally against surrounding evils?

FIGURES and calculations if at all extensive, or intricate, are with difficulty reduced within the comprehension of General Readers, and to render them agreeable, as a less intense kind of readWhatever be the cause, the publicity ing, demanding attention, but not of our national affairs, in every condition, study, for the most part exceeds the distinguishes the British from other Gopowers of the pen. They allow no vernments. Rumour and report preroom for the exercise of the imagina-pare the way for authentic information; tion; and they state facts too strongly, and adhere to them too closely, to permit the smallest digression by way of embellishment. Nevertheless, in a general view of the State of the World, they must have their turn; and those who will not direct their attention to figures and calculations when the ur gency of the case demands it, will find cause to regret exceedingly, sooner or later, the lapse of time, and of opportunity, never to be recalled.

and these are so prompt at exaggeration, and in case of misfortune they so readily over-rate the truth, that some have considered them as systematically di-. rected to that effect, by those who have private purposes to answer. A storm at sea, has dismantled half a dozen men of war:-report Admiral Such an one's "whole fleet destroyed", consisting of twelve or fourteen sail. Ten thousand men have fallen a sacrifice to an extensive battle, on land-report 66 twenty thouOur countrymen boast a disposition sand, the Commander in Chief into stand up and look an enemy full included". The National Revenue is unthe face; and this is, frequently, their preservative from impending danger. They either are, or suppose themselves

[ocr errors]

VOL. V. No. 99. Lit. Pan. N. S. Feb. 1.

equal this year to the last-by how much? "twenty millions at least." The Public examine with impatience the of

2 C

enormous taxation, which has exhausted the countries where the war has raged. These oppressions have affected the circulating capital, and have reduced that to less than half, where it has left any proportion worthy of the name of National capital remaining.

ficial doenments; and these diminish the | Now, these are all distinct from that misfortune, by more than half. But incessant system of requisition and by this examination the effect on the Public mind is diminished, MUCH more than half; and the conviction that the loss is only so many ships, or so many men, or the deficiency is only so much, generates a kind of hope, and the Public speculates immediately on the means of surmounting the misfortune. The ge- We have seen also that it has seized neral powers of the nation are estimat- inalienable funds, such as honourable ed; and this defalcation, though dis- securities, or lands, and has mortgaged tressing, is compared with the resources the futurities of these, spending the which remain, and which are available, money thus raised, at its own pleasure; or convertible, to the purposes most and by these, and a thousand other proper to be resorted to on this occasion. vexatious devices, it has entailed poSuch are the advantages of publicity!verty and misery on generations yet to Every man discerns his duty: every come. man by doing his duty, annuls to a certain extent, a part of the national burden; his resolution supports himself, and the united resolution of the people, supports the State.

Perhaps, still more mischievous consequences attended the late war in Europe, so far as it enforced the Continental System,-a system of exclusion, at all times a most dangerous speculaHuman nature derives a kind of me- tion in National Economy,-combined lancholy gratification from beholding with a diversion of what little capital others in a state of suffering not less could be obtained to objects not natural severe than our own. If ever that to the country. Whatever is to be inspecies of gratification might be tole- troduced as it were furtively, at great rated, the present is that moment. cost, in the first instance, to be natu Will the reader allow himself to consi- ralized, improved, and perfected, afterder the condition of countries which wards, by means of long continued exhave been the seat of war?-which have pences-wheneveritis necessary to tempt seen their factories, warehouses, store-workmen from a natural occupation to houses destroyed, and thus their fixed one thus raised, thus fostered, the syscapital diminished ? The devouring tem is sure of punishment, from the flames when once set in action, acknow-hand of time. A few years, were manledge no distinction between buildings kind but wise enough to trace the true falling to decay through age, and build-cause, would convince the most incredu ings finished but yesterday, and scarce-lous, that such establishments, howly yet delivered into their owner's ever flattering for a while, or under band. War levels all; and a factory certain circumstances, have in themburnt down, that cost-ten-twenty-selves the seeds of misery; and those or thirty thousands of pounds is a dimi- who trust to them, do so, at the hazard nution of the National Stock, as well as of all their comforts, if not also of their of private property, by so much. This very existence. is so clear that none denies it. But, the fact is equal, though the subject be different. Woods destroyed, timber trees cut down, are diminutions of the National capital,-the fixed capital, extending through many years. In like manner, the consumption of cattle, by an enemy inhabiting the country, the destruction of agricultural implements, the cutting up of the roads, &c. are damages in a National point of view, not to be replaced for a long space of time.

To support these ideas, we have only to examine the condition of those who were tempted by the state of the Continent to cultivate the Woad plant, as a substitute for Indigo:the Beet root, as a substitute for the Sugar Cane;-who have built vast factories for cotton works, purposely to exclude British goods:→→→ the article they intended to force, was not that which under other circumstances-(i, e. in time of peace, for instance,) they would of their own accord

have engaged in. These now suffer: | tion, in order to alleviate the distresses their sufferings are severe in the ex- of their neighbours in the quickest man`› treme;-but they throw the blame on ner possible. It is understood, that we! others, and while they suffer the pu- do not say, in the best manner possible, nishment of dupes, they solicitously en- but in the quickest, that which offers deavour to avoid the character; and this itself with the greatest promptitude and is the utmost of their hopes! the least delay.

The Swiss Muslin manufacturers no longer obtain a free passage for their goods through France;-because the French muslin manufacturers know, to their cost, that smuggling would deposit these rival productions in great quantities, while passing along the road. Thus we have the singular spectacle of merchants of Lyons, where silk is the natural commodity, trembling at the sight of a bale of cotton goods, manufactured among the mountains of Swit-tress reigns; and the nearer we ap zerland! In the mean while, not merely the Swiss work men in muslins suffer, but those who supplied them with the necessaries of life, and then again in their turn, those who contributed to the enjoyments of these, whether mental or personal.

The reader will easily extend these reasonings to those parts of the Conti nent which have been the seats of war. We hear nothing of insurrections in Turkey: Turkey escaped war-ravages. In Russia, in Poland, the enemy made a fierce inroad, but it was not of long duration,' nor of extensive devastation. In coun tries where his policy had time to operate, where he could induce the people to adopt his ideas, and act on them, dis

proach to France the more keenly is it felt, because those Countries were long est under. French dominion. And what is the condition of France herself? does it appear that, as a nation, she is enriched by the spoils of war? Has her population, taking the whole of it, more gold-each man in his own pocket→→→ than before? Nobody affirms it: nobody believes it. Her public finances are confessedly under the necessity of crying out for help; while the private property of her inhabitants, is insuffi cient to meet the demands of Life, and

If cotton were the natural production of Belgium, or an article that naturally fell to that country, in preference to others, to be manufactured there, the Complaints of the workmen in that branch would be much better founded, than they have been of late. Their factories were established in spite and envy-whereof the State. is the wonder they should suffer the due reward of those base passions?

Amidst this general and sweeping convulsion, it would be beyond expres sion wonderful, if any one State, accustomed to mingle in Continental Politics,' should preserve its prosperity, whether natural or accidental, undiminished. It would encrease the wonder if that State

Now, in well regulated Society, it is impossible that one description of the population should suffer, without affect ing the whole. If the exertions of a Flemish nobleman be directed to the alleviation of the sufferings of his impo-were Britain. And this we may say, verished countrymen, how can he indulge himself in purchasing foreign commodities?—And this acts with proportionately accumulated power among the middling classes of the community. If the middling classes assist, as they really do, not by consumption of commodities, but by donation of cash, with which commodities might be purchased, bow can they at the same time, be consumers of goods, which under better auspices, they had been accustomed to purchase? They forego, they actually and truly do, forego a greater or lesser share of their own personal gratifica-in passing.

[ocr errors]

because there are certain obvious causes which did operate in favour of this island, during war, which have ceased to operate, with the return of Peace. For instance, during war the proceeds of certain colonies held by us, centered in our market. We have restored to Holland Batavia, in the East Indies; and Surinam in the West Indies. Certainly the remittances of these colonies to Europe, which constantly passed through our establishments, and principally our metropolis, left some profit to our mer chants, as agents; and to our customs, 2.0.2

[ocr errors]
[ocr errors]

Batavia furnished an abundant supply | reign articles, where is the wonder that of Pepper, suppose six millions of the Continent is reported poor among us pounds, black, and fifty thousands of at home?-that the Continent does not pounds, white sugar about ten millions purchase as it did in days of prosperity? of pounds; coffee as much; so that the that the Continent is proof against whole export has been estimated at more the many temptations sent thither by our than three millions, sterling. Did this enterprizing countrymen? The wonder, leave no profit, in the shape of freight-perhaps, more correctly viewed, would age, agency, and other duties of mer- take another turn, and we should stand chandise? Did the articles of supply surprized, could we comprehend the sent thither, in return, yield no profit to whole, that Britain finds purchasers for those who sent them ? any of her exports on the Continent.

Surinam may have a white population This reluctance to purchase, among of three thousand five hundred persons; those who used to purchase freely, must mulattoes about as many; negroes sixty be added to what we have hinted on the thousand; did these draw no supplies deficiencies occasioned by the restoraof European articles from Britain ?-tion of colonies to their parent states; Their products were estimated at a mil--and both together will go far towards lion and a half sterling: where did accounting for an apparent falling off in these yield a profit, if not in the metro- the Customs, for last year. To say truth, polis of our island, to which they were during the year previous, immense quanconsigned, in the first instance. tities of goods had been forced out of the country; and these remaining unsold, completely blocked up the channels of sale for others destined to succeed them. They reduced the workmen in similar articles to distress, because it was easily foreseen that they would be sold cheap; while they discouraged all succeeding adventurers, who sent out goods to a market already glutted.

And this produces its effect on the numerous branches of business, connectwith this department of Commerce ; which proportionately affects our Internal Trade.

To the French Government have been restored Guadaloupe and Martinique whatever was the amount of commerce with these islands, it now goes direct to France; no part, or portion of it comes here it does not pay warehouse duty, or any other; neither does an auctioneer get a single penny by it, for lifting up his hammer, and displaying his dexterity. Calculating the white population of both these colonies at twenty-five thousand, the coloured po-ed pulation at nearly double, and the negroes at a hundred and twenty thousand, the supplies demanded must have been considerable. The produce of these islands could scarcely be so little as three millions and a half: this did pass the British Custom House, where it left a profit, though but small, under certain circumstances. It is necessary to allow these defalcations their full force, before we can properly estimate any deficiency in the Customs, during the last year.

But, our Internal Trade has been much more severely affected by the consequences resulting from the spirit of speculation, than from any other cause. This is so general among us, that some think it natural to us; and a man who does not speculate and enlarge his speculations-is pointed at as a man of unaccountable wisdom-or in plain language a fool.

If then the customers from whom we In time of Peace, the same disposihave been used to draw extensive remit- tion proved equally ruinous. The instance tances, are themselves impoverished by of the late worthy Alderman Boydell is the destructive effects of war, and by notorious, because it not only was exthe consequences of insidious counsels, plained by himself in print, but the Leif they are at length feeling the evils gislature did all that was possible to sofwhich naturally follow mistaken specula-ten a blow that could not be avoided. tions, and being absorbed in their own He speculated in time of peace-on a miseries-to alleviate which is a primary plan, to the success of which peace was duty have neither time nor ability to in- essential:-wár broke out-the sensedulge their wishes, as they respect fo- quenses were fatal.

[ocr errors]
« PreviousContinue »