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on very good terms; but, what need he have cared, so that he got the money..If, however, we take the funds as a criterion, the credit of France is not at a very low ebb. Before this war began the French three per cents (as may be seen in Vol. 5. p. 1020) were at 53, and since the war began they have risen to 57. Neither wars nor rumours of wars shake them. I know not their po sitive value; but, I know that their relative value has arisen four per centum while the relative value of the English funds has fallen about sixteen per centum, a difference of twenty per centum. But, Buonaparté wants to make no loans: his revenue is equal to his expenditure; and, as I said before, the present war will augment that expenditure but in a very trifling degree. I am the more anxious in wishing the public to be guarded against this error, as I am fully persuaded it is one of the most fatal errors they can possibly imbibe. Any hopes of relief from the internal disorders of France, whether of a financial or political nature, are now no more: the meddling, bungling ministry of Mr. Addington, sanctioned and sheltered by Mr. Pitt, have, at last, placed Buonaparté in a situation that nothing but beating him in open war will ever shake his power. When and how, then, are we to have peace, and upon what terms? Mr. Pitt is pledged not only to repress the ambi

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"tion" but to "chastise the insolence" of Buonaparté. That neither of these objects have been accomplished as yet, is certain; nor does it appear very likely that they ever will by an army of 400,000 men, who have "volunteered" to stay at home. Lord Melville said, that he rejoiced at the rupture of the peace, because it enabled us to retain Malta. "Malta, and Malta alone, I would "make war for, if there were no other ob

ject, no other provocation." Whether his Lordship is still of the same opinion one can scarcely guess; but, if he be, Buonaparte's hirelings (for he has his hired writers too) tell us, through the pages of the Moniteur, that " peace must then be conquered in the "fields of Great Britain and Ireland." I suspect, however, that both his Lordship and Mr. Pitt would relax a little, if required. Aye marry would they! If Buonaparte were to insist upon their performing a pilgrimage to Malmaison to kiss his jack-boots, I do not say, nor do I think that they would comply; but it would hurt my feelings very much to be compelled to say how far I think they would descend, at the end of another year, in order to obtain peace. That is to say, if the present financial and military systems continue to be pursued. Had the minister the ability and the resolution to make a pro

per change in these, there would be no necessity for his crouching at the feet of the enemy. But, to make this change is, I fear, quite impossible for Mr. Pitt, who stands so committed to his systems, whose reputation is so indissolubly attached to them, that to attempt their destruction would be an act of suicide of that sort which men shrink from with the greatest abhorrence. It is, however, very hard that the nation should sink in order to save the reputation of one man, let that man be who he may.--And, sup. posing that peace were obtained upon terms such as might be the result of a pilgrimage to the jack-boots; what would be the consequence? We could not disarm. Our peace establishment must be nearly what it is now; all we are now doing is to watch the French armies upon their coast, which armies would certainly remain pretty near the spot where they are. The French spies and stock-jobbers would again set to work: the funds would rise and fall just as it suited the French Treasury: we should pass another year of feverish repose, when we should be again compelled to declare war; for such would be our state, that we must arm again, or at once yield our necks to the yoke; whereas the enemy need only stand and look at us; and thus would throw the blame of the war upon us In short, if the present systems are persevered in, it is hard to say what sort of death we shall die: that appears to be entirely a matter of choice with the enemy, who seems at this moment to be looking at us and considering at the same time, whether he shall knock our brains out at ouce, or whether he shall hunt us, or teaze us, or starve us to death. Buonaparié and his counsellors must see the present state of our paper money, and, when they consider the inevitable effect of war and loans and taxes upon that money, they must know that a continuation of the war for a very few years will produce the total discredit of the paper. That this is their opinion, indeed, we know, because we see it proclaimed through their official journal; and besides, it is perfect nonsense to suppose, that they are not well-informed upon subjects that are here discussed in books and pamphlets and parliamentary speeches and reports of committees. Having made up their

mind as to the certain effect of war upon the bank paper, they will next consider what effect the total discredit of the paper will produce in the country, on the people and on the government; and, upon the way in which they shall determine this question it will depend (if our present systems continue), whether they will grant us peace or not, even upon terms to us the most disgraceful that

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can be conceived. To baffle all their calculations and to blast their hopes, then, upon this score, should be a principal object with our minister; but, here again we meet the ever recurring obstacle: scarcely any measure can be attempted for this purpose without a clearly implied condemnation of the systems of the minister himself. It is, however, a lamentable consideration, that the country may perish, because, to save it, the minister must confess his errors In spite of this truth the minister will, till the very hour of ruin approaches, meet with support quite sufficient to divide, distract, and enfeeble the nation. Many men, and very good men too, will remain attached to him for no other reason than because they bave long been attached to him: many will cling to him from interested motives: some from fear, and some from friendship: the very wreck of a twenty year's administration is formidable. It must finally sink, but it may chance to drag the monarchy down along with it. This is the evil to be dreaded, and, if possible to be prevented.

nent duty" for the sake of the money; but in England, particularly in the southern part of it, those who have thus "volunteered," those who have made this second effort of patriotism, have been, generally, men who either went for the sake of a frolick, or who, being idle fellows, regarded the pay, bounty, and free lodgings as means of getting a solid drunk without any risk of their lives or their liberty. The consequences have been such as might have been foreseen by the minister, and as were foreseen by those who opposed his project: idleness, drunkenness, and quarrelling have followed the footsteps of these permanent-duty men wherever they have gone. I would produce proof upon proof of what is here stated, but shall, at present confine myself to the quarrels of a corps who have printed their proceedings. -"Camberwell Volunteers. Head Guar"ters, the 30th of June, 1804. At a court "of inquiry, duly constituted and convened "for investigating the conduct of several "members of the fifth company of this

corps, Lieutenant Colonel Smith in the "chair:-RESOLVED UNANIMOUSLY, That "it appears from the report made to this "Court, and confirmed by the admission of "commissioned officers of the fifth com

pany, that the conduct of certain mem"bers of that company, has been of the most "disorderly and mutinous nature, and de"structive of all military discipline; there

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by subjecting such members to the pains "and penalties of the articles of war, as provided by the Act of the 44th Geo. III. c. 54. s. 23.RESOLVED UNANIMOUSLY, That it appears to this Court, by the "examination of the officers of the tifth company, and other evidence, that a "meeting of several members of the said company was held, with their concurrence, " and in their presence, at the Rosemary "Branch Public House, on Thursday evening the 28th instant, at which meeting a written agreement was entered into, and signed by the majority of the members of "the said company then present; destruc"tive of all military subordination; and, as "it also appears that the said agreement has "been suppressed, by which means the

PERMANENT-DUTY MEN.-It was my intention to attempt, in the present sheet, to make a review of all our military measures since the peace of Amiens was concluded; but finding my matter swell beyond my room, I thought it best to defer the subject to my next. Upon the effect of one of the measures relative to the volunteers I cannot, however, forbear to say a few words in this place. Since the passing of what is called the Volunteer Consolidation Bill, the Volunteers, that is to say the men who have volunteered to stay at home, have been sent (in cases where they would consent to be sent) upon what is ludicrously termed per-manent-duty that is to say, to march ten or a dozeo miles from home, there to remain, billeted for three weeks, including the marching and countermarching days, and to receive for this "permanent service" a guinea bounty besides a shilling a day in the shape of pay; that is two shillings a day, while soldiers of the regular army receive a shilling a day.--Amongst the evils that might be expected from this project, was mentioned, at the time, the terrible example which would be given to the regular army by these men in soldiers' clothes and not under martial law and receiving double pay into the bargain. Their disorderly behaviour, their drunken quarrels, their disbanding themselves in certain instances, NIMOUSLY, that it be recommended to were anticipated, and, in every part of the "the commanding officer to dismiss such of country, the expectations of those who "the said company, as may have delivered thought thus have been realised. In the up their arms and accoutrements, as afore northern parts of the kingdom where wages "said: and to permit the remainder of the are low, men have gone upon this "perma" doo commissioned officers and privates,

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names of the delinquents are withheld "from this court, and sundry arms and ac66 coutrements have been left, at Serjeant "Howard's house, in the most disorderly 66 manner, RESOLVED, THEREFORE UNA

"who shall have manifested an orderly con"duct, and proper sense of the glorious cause "in which they are engaged, to join the "other companies of the battalion, provi"ded it be done forthwith.

"RESOLVED UNANIMOUSLY, that these "resolutions be read to the officers of the "fifth company immediately, and a copy "delivered to every member of the corps."By order of the court: signed, George "Owen, Secretary."This is the sort of troops on which we are desired to depend for the safety of the country! Nav, only a few days ago Mr. Pitt expressed his conviction, that our situation was become much more secure in consequence of the "perma"nent duty" which had been performed, and which was then performing by the volunteers, of whom there were no less than 180,000, who had been, or were still, out upon such duty! It is really alarming to hear such sentiments from the man who holds all the means of the nation in his hands! It is an unhappy thing for this country that Mr. has never married. He would then, probably, have had something besides projects whereon to fix his affections, and the poor pation would not have been teazed and tormented to death in order to furnish objects of magnitude enough to satisfy his capacious soul. With him a project of the day seems to be a necessary of life. He will father another man's project rather than be without one, especially if it be quite new, and of á nature to afford ample room for explanation; unbounded latitude for talking about it, How many, many millions has this nation paid; how much disgrace and ignominy has she suffered, and does she yet suffer, from this cause! Of her six hundred millions of debt, three hundred may be fairly ascribed to Mr. Pitt's love of showy projects, and this can be proved as clearly as that two and two make four. But, of all his projects the military ones are by far the most dangerous. His financial schemes contain a remedy within themselves: his fictitious money may return to its pristine rags, leav ing us still under the guardianship of our own benignant monarchy, a free and happy people; but, what may be the ultimate effect of his volunteer and small-bounty and permanent duty and parochial-recruiting projects no man living can even guess. That they cannot come to good is certain; and all that can be matter of doubt, is, the kind and the quantity of the evil.

The appointment of Lord Levison Gower as ambassador to the court of Russia, is a

step of some consequence, and one indeed which, without any inquiry into the talents of the person appointed, has more apparent sense and reason in it than the last appointment had. It was said at the time, that because Buonaparte's ambas-adors were all generals, Mr. Addington resolved to match him with admirals. Nor does there appear to have been any better reason than this for sending Sir J. B. Warren on an embassy, To the appointment of Lord L. Gower there can be no objection on the score of rank. It were to be wished that men famous for talents, men whose public reputation should have run before them; it certainly were to be wished that such men should fill the leading posts in our diplomatic corps; but, if we are not to have talents of this description, we ought at least to have rank; for, without either rank or talent, what can we expect from a minister at any foreign court. The Russians will not ask who and what the new English minister is. Such questions are very aukward; especially when they become so minute as to touch upon a man's former profession, or trade.-The Protest, which has been published in the name of Louis XVIII, and which seems to have made its first appearance in the Moniteur, is now said to have been fabricated at Paris. Time will settle this point; but it is difficult to see what advantage the new emperor could promise himself from such a device. — It appears that Napoleon insists upon the Pope's coming to France in order to perform the ceremony of coronation. His Holiness bas endeavoured to turn the cup aside, but there is good reason to believe that he must swallow it, in spite of his appeal to the Emperor of Germany, who most assuredly will have nothing to do with the matter. Moreau has set out in consequence of his sentence of banishment. He goes to Spain, it seems, and thence to America, but it is very improbable that he should go to the United States. If the French did not evidently despise colonies, and if they were not certain, that by holding Canada, as we now hold it, we are doing ourselves infinite mischief, one would be tempted to suspect that Moreau is gone as an ambassador and a ge neral, rather than as a banished man-It was proposed to Georges, some time before his execution, to implore the pardon of the emperor, with an assurance that there was great probability of his prayer being heard, He rejected the proposal; and died as he had lived, a brave and loyal man,

Printed by Cox and Baylis, No. 75, Great Queen Street, and publishsed by R. Bagshaw, Bow Street, Covent Garden, where former Numbers may be had; sold also by J. Budd, Crown and Mitre, Pall-Mall.

VOL. VI. No. 4]

LONDON, SATURDAY, JULY 28, 1804.-.

PRICE IOD "I cannot help observing, that, if we persevere in this system of defensive force, andeprive ourselves of the means of striking a preventive blow, we are inviting the enemy to our own shores, attracting the war to the very heart of the empire, and thereby, either MR. ELLIOT's Speech ou hastening our subjugation or rendering the war interminable.

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the Ariny of Reserve Bill, June 23, 1E03.

97)

TO THE RIGHT HON. WILLIAM PITT, CHANCELLOR OF HIS MAJESTY'S EXCHEQUER, &c. &c.

SIR,-When I shall have the honour (an honour I have long promised myself) of ad dressing to you a series of observations on several subjects connected with the great public station which you fill, and by the measures emanating from which we are all so materially affected, it may be found necessary to trouble you, with respect to general motives and objects, with some prelimi nary statement, a trespass upon your time, for which, when my purpose is to beseech your attention to a single point of finance, I should find myself utterly at a loss to frame an apology.The point to which I allude, Sir, has presented elf to me in the Resolutions, which, upon your motion, were adopted by the House of Commons, on the 24th instant. Nearly the whole of those resolutions afford matter for comment; but, for the present, I shall confine myself to the 13th; that which exhibits a statement of the produce of the permanent taxes in the several years since January 1793, and which is expressed in the following terms: That the nett produce of the "permanent taxes existing previous to January 1793, was, in the year ended "on 5 January 1793 £14,284,000;

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standing the weight of debt and taxes that has accumulated since the year 1792, the taxes which were in existence at that time, and which have continued in existence to this day, still produce as much, nay more, than they produced then. But, is this inference correct? I am convinced it is not; and shall state to you the reasons whence that conviction has arisen.When you say, that the produce of the year ending 5th Jan. 1804, that is to say, the year 1803, "exceeds the produce of the year ending 5th Jan. 1793," that is to say the year 1792, you may mean, that the produce of the former exceeds that of the latter in more nominal amount; and to that proposition I have nothing to object. But, if such were your meaning, it should have been explained; for, certain I am, that of the ten thousand persons, who will probably read this letter, not one will be found, who would not, from the Resolution above quoted, have concladed, that the taxes there spoken of produced more in worth in 1803 than they did iu 1792. Indeed, such a conclusion is the object evidently aimed at by the statement; and, to show that it is a very erroneous conclusion will, I am persuaded, require but very little pains.---Were any one to state to us, that the value of money has not depreciated during the last eleven years, we should instantly contradict him. I am not here speaking of the depreciation of the paper currency; I am not speaking of the state of public credit; I wish, on this occasion, to keep clear of any question relating to the cause or causes of the depreciation of money, being desirous merely to establish the fact. 14,194,539; But, can any thing be 14,497,226; wanting from me for this purpose? Is it "on 5 January 1803 15,425,000; not a fact already completely established? "and on 5 January 1804 14,901,000: Has not money, exclusive of the effect of "which last sum exceeds the nett produce recent most powerfully accelerating causes, " of the permanent taxes on the 5th of Ja- been gradually depreciating for centuries? nuary 1793, by 617,000l. and exclusive Have not all the writers on finance, when "of a large increase of arrears out-stand- comparing the amount of the revenue in "ing."- Now, Sir, what inference is it different years, taken care to make allowintended that we should draw from this ance for the gradual and constant deprecia. statement? Obviously this: that, notwith- tion of money? Has not Mr. Wheatley in

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on 5 January 1794 46 on 5 January 1795

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on 5 January 1796 66 on 5 January 1797 "on 5 January 1798

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on 5 January 1799

"on 5 January 1800

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on 5 January 1801 "on 5 January 1802

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13,941,000;
13,858,000;

13,557,000;
14,292,000;
13,332,000;
14,275,000;
15,743,109;

his admirable treatise, published last year, stated, that, even upon the principle of Sir George Schuckburgh's calculations, the revenue of 1790, amounting to 15,500,0001. was equal to 17,500 0001. of the revenue of 1800? And, will it then be pretended, that a pound sterling of the revenue of 1803 is equal in value to a pound sterling of the revenue of 1792? Yet, as I before observed, this is the conclusion which is evidently in tended to be drawn from the statement that I have quoted from the financial Resolu tions. Enough has been said, and, indeed, much more than enough, as to the principle and the fact of depreciation : it remains only to fix correctly the degree, in order to show the amount of the defalcation, instead of the increase, which has taken place in the produce of the old permanent taxes. The price of bread has been said to be a standard frequently very incorrect; and it may be so. But, we well know, indeed Parliament has most solemnly declared, that bread is now too cheap; if, therefore, I take the average price of bread from this time back as far as the month of

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January, 1802, embracing a period in which came to market three of the most abundant harvests that England ever knew; and, if I compare this average price with that of a like space of time previous to the month of January, 1793, I am certain that no one will accuse me of a want of fairness. I have sought these averages; and, I find that of the last mentioned period to be 6d. for the quartern loaf, while that of the first mentioned period is gd. 3. It follows, of course, that money has, in this country (no matter from what cause) depreciated in value in the amount of one third, since the year 1792. I am sure, Sir, that you will not deny this conclusion; but, lest other persons should, I think it necessary to call to my aid authorities, against whom I am certain they will not think of contending: I mean, Mr. Rose and yourself. Mr. Rose, in his "Conside"rations on the Debt of the Civil List," published in 1802, after the scarcity was over, says: " in the Lord Steward's department,

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the prices of many kinds of provisions are more than double, and, on the whole, at "least 70 per centum bigner than in 1786." As to yourself, Sir, you stated to the House of Commons, in the debate upon the civil list, no longer ago than the 2d instant, that the advance in prices since the year 1786 was at least 60 per centum," and of this "fact," said you, every gentleman must "be perfectly satisfied." Your estimate is below that of Mr. Rose, but I will take it as my rule of proportion, because it was made

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at the very time when the Parliament had just declared corn to be too cheap. If, then, Sir, prices have risen, or money has fallen (for they are only different words to express the same thing), 60 per centum since 1786, it must have fallen 37 per centum since 1792, that is, more than one-third, and this, if your statement upon the civil list was correct, fully corroborates and establishes the conclusion drawn from the comparative prices of the quartern loaf. Thus, then, Sir, the degree of depreciation is one-third at least; whence it follows, of course, that as there is very little difference in the nominal amount of the old taxes of 1792 and that of the same taxes in 1803, the defalcation in the real amount has been as 1 to 3; and, that, the produce of those taxes in 1803, to make it equal to their produce in 1792, should have amounted to about 19,500,000l. instead of 14,900,000 l.I am, Sir, &c. &c. &c. WM. COBBETT.

SUMMARY OF POLITICS. REVIEW OF THE MEASURES RELATING TO THE ARMY.How or when is this war to be brought to an end? When are our fatigues and expenses to be diminished? When shall we be relieved from the everreturning alarms and terrors of invasion? When, oh when! shall we get rid of our dangers and our disgrace?Such are the questions which every thinking man puts to his neighbour, or, at least to himself; and, though to give a satisfactory answer might be difficult; though to say what may or can be done is, perhaps, impossible; yet, it is easy to perceive, as to one point, what can not be done; it is easy to perceive, that, with a species of force, whose operations are by law confined within the kingdom, no preventive blow can be struck, no diversion can be made, no dread of our power can exist in the mind of the enemy. enemy, as far as he is disposed to act upon the Continent, may safely consider Great Britain as not having a single soldier at her command. He is in a situation to harass us by his threats; to keep us in almost constant alarm, and to swell our expenses far beyond those of former wars, while his own people live in perfect tranquillity, making a jest of our fears, and while he expends out of his own treasury very little, if any, more than he would expend, were he not at war. In his commerce and his colonies, that part of his resources and dominion upon which he appears to set no value, he has suffered all the loss that we can make him suffer. His internal authority we have not been able to shake by intrigue; a low and bungling at

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