dear delicious cash, was lost to the country for ever, unless by the word country Scotland alone is meant. Besides, why should not the poor Highlanders carry away their cash as well as the noblemen and gentlemen of Scotland and England? We greatly doubt that cash expended by these people on the woods of Canada and Nova Scotia is more completely lost to the empire than that which the Duchess of Gordon, Duke of Bedford, and a list of others too loathsome to enumerate, have expended in Paris. A hundred thousand pounds lost to the country for ever! Three millions of pounds have been thus lost for ever, during the same year, by those who have been crouching at the feet of Buonaparte and his wife. The very baubles bought expressly for the purpose of shining in the eyes of our mortal enemy, who to that quality adds the more hateful ones of rebel and usurper, have cost more than all the three thousand Highlanders have taken to America. That every Government has a right to prevent emigration to foreign parts is certain; it is not only an undoubted but a just and equitable right of sovereignty; but as to the expedience of using force for this purpose, that must depend upon circumstances, one of which certainly is not, that the possessors of the land set the un-patriotic example.

FINANCE.

NOTE BY THE EDITORS.]-We have now come to that part of the Register where Mr. COBBETT began his attacks upon the Funding System, and as this subject is one of those on which he mainly dwelt, we think it necessary to show how he was led first to think of it, and how he studied it: the progress that he made will appear in the many articles and essays which we shall have to republish. We select what we consider the best articles, but we shall, of course, be careful to preserve those which show how early he adopted those principles with regard to the National Debt, and its effects on the country, which he has urged so frequently, and in so many shapes, on the attention of the King, the Government, and the people, from 1803 to 1835. In the "Manchester Lectures," p. 95, he says, "I cannot adopt a better method of explaining this matter (loan-making) to you, than by describing a transaction by which means I was likely to become "a loan-monger myself, and which first opened my eyes with regard to this matter. When I came home from America, in 1800, I was looked upon by the "Government people as likely to become one of their vigorous partisans. It "was the custom in those glorious days of Pitt and paper, to give to the literary partisans of the Government what were called 'slices' of a loan. For instance, "MOSES was the loan-monger; and, as the scrip, as it used to be called, was always directly at a premium, a bargain was always made with the loan-monger "that he should admit certain favourites of the Government to have certain por"tions of scrip at the same price that he gave for it. I was offered such a portion "of scrip, which, as I was told, would put a hundred or two pounds into my "" pocket at once. I was frightened at the idea of becoming responsible for the "immense sum, upon which this would be the profit. But I soon found that the "scrip was never even to be shown to me, and that I had merely to pocket the amount of the premium. I refused to have anything to do with the matter, for "which I got heartily laughed at. But this was of great utility to me; it opened "my eyes with regard to the nature of these transactions; it set me to work to "understand all about the debt, the funds, and the scrip, and the stock, and "every thing belonging to it." Mr. COBBETT, at the time which he refers to in the above extract, was in the habit of seeing Mr. WINDHAM and Dr. LAURENCE, the latter of whom, though not now so familiarly known by name to the public as Mr. WINDHAM, was a member of Parliament, and a very learned man. It was to him in particular that Mr. COBBETT applied for information concerning the subject of Finance and the Funds. The Doctor advised him to read the works of Dr. ADAM SMITH and Mr. GEORGE CHALMERS, which he accordingly

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did; but, as we have often heard him say, finding nothing in those writers to give him a clear view of the subject, he then read all the Acts connected with the Bank from those of Will. III. down to the time we are speaking of; and till the beginning of the year 1803, he seems not to bave thought himself so far master of the matter as to begin to write upon it; but in that year he began his attacks on the system. He does PAINE the credit of having been his real teacher, however; for in " Paper against Gold," p. 442, he says, that in the year 1803, he read the "Decline and Fall of the English System of Finance," and of that work he remarks: "Here was no bubble, no mud to obstruct my view: the "stream was clear and strong: I saw the whole matter in its true light, and "neither pamphleteers nor speechmakers were, after that, able to raise a momentary puzzle in my mind." It will be seen in the essays that we shall now publish, that Mr. COBBETT strongly urged a reduction of the interest on the Debt, and that he contended that that must be done, or that the monarchy itself would ultimately be in peril from the weight of taxation. In this opinion Mr. COBBETT "stood alone again; for even Mr. WINDHAM and Dr. LAURENCE thought him whimsical in his notions, and the former remonstrated with him for giving so much attention to, and making so important, a matter in which he certainly was wrong! Agreeing with these two gentlemen as to the condition of the country, and in attributing it to the system of PITT and ADDINGTON, he differed from them both in attributing every mischief to the funding system; and he differed from them so widely, that it was not long before Mr. COBBETT, in pursuit of the means which should destroy the system, became a Parliamentary Reformer, and the associate of Major CARTWRIGHT and Sir FRANCIS Burdett instead of Mr. WINDHAM and Dr. LAURENCE. While attacking the funding system in 1803-4 and 5, he wrote also against Parliamentary Reforın, for that he then considered an attack on the "institutions of the country," and did it rather from old prejudice than conviction; but so positive was he that the pernicious system of funding would complete the ruin of all, that he at last came to the conclusion that a reform was the only means of saving what he once thought it would destroy. This, however, will unfold itself gradually as we proceed in this publication, aud, therefore, we need say no more here.

THE hirelings of the Ministry are always unfortunate in the time they choose for vilifying our statements. Just at the moment when a discussion in the House of Lords was confirming our representations on the subject of Mr. Addington's estimates, some ministerial creature was advertising a refutation of those representations. We have not looked into this representation, a neglect which we participate with the public, but certain we are that whatever sum of the nation's money it has been purchased with has been totally thrown away.-Lord Grenville, in admitting, for argument's sake, the correctness of all the accounts laid before Parliament, and proceeding upon the supposition that peace had continued, clearly made out a deficit of more than 4,000,000l. per annum, instead of a surplus of 1,000,000l. on which Mr. Addington taught the deceived people to rely, making a difference of more than 5,000,000l. between the reality and the estimates of the Minister. The debate to which we allude, and which will, of course, be given at length in the Supplement to this volume, was opened with great ability by Lord King, who appears to be a young nobleman of promise. Lord Moira's speech was one of the best that ever was heard even in that assembly. He acknowledged that he had been deceived as to the treaty of Amiens; he deprecated that system of financial deception which had long been practised upon the people, in order to cover the blunders and misconduct of Ministers, and to prepare the way for some new and un-looked-for sacrifice; and he satirized in a most happy vein of contempt, the display of Lord Auckland's “ magnificent receipts." Magnificent receipts! What a phrase! What a phrase for a nobleman to use! Not a whit less disgusting than the " heavenly

turtle" of a Right Honourable and guttling Lord Mayor. The speech of Lord Grenville, of which those who were not present can have but a very faint notion, unravelled the whole of the labyrinthian deception, and exhibited the juggling Minister in his native duplicity. Under blows like these Lord Auckland was supported by the Earl of Westmoreland; how, it would not be becoming in us to attempt to describe. The stock-jobbing lovers of peace and plenty; the omnium-eaters; all the innume rable swarm of locusts, who, without stirring ten miles from the capital, devour three-fourths of the produce of the whole land; this destructive race of beings may and will abuse every one who attempts to open the eyes of the nation, because they must know that every such attempt tends to their annihilation. But, events will, ere long, speak to them in a most tremendous voice. The thunder already begins to roll, and the bolt will assuredly fall. They may howl, but their howlings will not save them, They may cry "blood-hounds' as long as they please; but they must have war, and to them most certainly a war of extermination. The stroke may be postponed for a few months, or for a year or two; but it must come, and that shortly. We, for our parts, believe that another accommodation with Buonaparte will yet take place: another short respite from conflict and the war will probably be nothing more than a sort of half peace, conducted by the sapient Addington and his colleagues: but all this will avail nothing; the great and tremendous war must finally come, and then adieu to all the golden dreams of the votaries of the Temple of Mammon. The scenes exhibited in the city of London for the last three weeks are too disgusting, too hateful, to contemplate without a mixture of indescribable loathing and horror; and the man who does not desire to see an effectual bar against their recurrence in future, must be lost to every sense of shame as well as of honour.

IMPORTANT CONSIDERATIONS.

NOTE BY THE EDITORS.]-The following paper we publish as we find it, with the few lines of heading, the official circular which instructed the clergy to distribute it in the churches and post it on the church-doors, and the royal arms at its head. This paper, though never claimed by him till some years after, was written by Mr. COBBETT in 1803. He had, as the reader has seen, opposed the Peace of Amiens, and foretold that that Peace could not be lasting. In May 1803, war was again declared against France, and Mr. ADDINGTON and Lord HAWKESBURY, who had made the Peace, were still at the head of the Ministry. BUONAPARTE threatened to invade England; he made preparations, such as collecting an army at Boulogne, fitting out flat-bottomed boats, &c., and in England all was terror and dismay, as the reader may see by turning to the columns of any newspaper of that day. He would find in the MORNING POST, for instance, of 6 July 1803, an account of BUONAPARTE's progress towards the coast of France, in which the people of Amiens welcome and encourage him by inscribing on the façade of the gate of that town, which opens on to the Calais road, the words "THE ROAD TO ENGLAND." In the same paper of the next day, is a proposition of the editor that the conductors of the newspapers of England shall devote a certain portion of their columns daily to the purpose of rousing the people to the defence of the country. In short, one cannot read the papers of that time, without seeing that the nation must have been almost panicstricken at the preparations of France; and it was under this state of things that Mr. COBBETT wrote, and the Government distributed, the following paper:In June 1809, Mr. COBBETT was still writing against the funding system, and in

favour of such a reform of the Parliament as would rid the nation of this which he considered its bane. The Government met him by publishing a garbled account of a COURT MARTIAL, begun, at his instance, in 1792, on the conduct of the officers of the regiment of which he was the sergeant-major. We say that the Government did this, because no other persons could have done it, as will be seen by looking at the pamphlet itself; for it contains papers that could properly have been nowhere but in the government offices. This pamphlet was distributed by the thousand, if not the million. Mr. COBBETT observes, in page 899 of vol. xv., They have sent hundreds and thousands of copies into Hamp"shire. All the gentlemen who signed the requisition (for a county meeting), "have received them for nothing. The post-office at Winchester has charged only a penny for their transmission to Twyford. The robbers, as they have " come down from London in their carriages, have brought whole bales with "them, which they have tossed out to all whom they met upon the road. "A few days ago, a landau full of he and she peculators passed through "Alton, tossing out these pamphlets as they went." He answered it, and showed, amongst other things, that the Government had availed itself of his services and encouraged his exertions for some years while he favoured them, knowing, at the same time, that he was the same William Cobbett who, if he had preferred false charges against his officers in 1792, which they now pretended, was not worthy of the marks of approbation that they had repeatedly bestowed upon him; and was not worthy of having a list of subscribers to his works consisting of almost all the Royal family, many of the Bishops, all the Ministers, and a large part of the Peers. He instances, as one occasion on which they accepted of his services, the following paper; and he brings it forward also in answer to the new cry that had (1809) been raised against him, namely, that he was "a low and insignificant person," who ought not to be attended to. But we will give the extract from vol. xv. p. 916, Pol. Register :— "Each of you, gentlemen (it was addressed to the people of Hampshire), "will probably recollect, that much about this time of the year, six years ago, "that is to say, in the summer of 1803, at a time when there was a general fear "of invasion, a publication was issued by the Government, was sent to all the parishes, was distributed in the churches, and was read from the several "pulpits. The paper was entitled, 'IMPORTANT CONSIDERATIONS FOR THE "PEOPLE OF THIS KINGDOM.' It was, in the newspapers, attributed to Lord 66 HAWKESBURY; afterwards to Dr. HORSLEY, Dr. RENNELL, and other learned "and eloquent men; but the real author of it was myself. I wrote it; offered it "to Mr. ADDINGTON, through Mr. YORKE; he accepted of it, in which he showed "his sense of duty to be above party pique; and it was published and distri❤ "buted at the expense of several thousands of pounds." Mr. COBBETT had no communication direct with the Ministers in this matter. The paper was given by him to the late Mr. JOHN REEVES, who had so far the credit of the performance, that the QUEEN (Queen CHARLOTTE) thanked him personally as the author at a drawing room which he attended subsequently to its being published. The Ministers, however, did know that Mr. COBBETT was the author, and he was offered a sum of money, which he refused. Relating to this matter, we will insert here an extract from the COURIER of the 11th of April, 1817, a few days after Mr. COBBETT left England for America, on the suspending of the Habeas Corpus act in that year :- We will do COBBETT another piece of justice. We "believe that he did not look for, nor receive, money as a bribe for espousing any cause. Certainly we know of one instance wherein a present of money was "offered to him for services rendered, which could not have been otherwise "than a tolerably large sum, but he very handsomely refused it." Mr. COBBETT understood this to allude to the "Important Considerations," and it was put forth in the Courier, at that time his deadly foe, at a moment when he was supposed to be gone off the stage of politics, and when foes even could afford to be a little generous.

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The following paper, which, accompanied with the circular letter preceding it, has been sent, by direction of the Government, to every parish in England and Wales, appears to be so well calculated for the present crisis, that notwithstanding its great length, we think it our duty to give it a place, in preference to all other matter :

CIRCULAR,

To the Officiating Ministers of the several Parishes in England and Wales. It having been thought necessary, that, at this momentous crisis, his Ma jesty's subjects, in every part of the kingdom, and of every rank and degree, should be fully apprized of the danger with which their property and their lives, their liberties and their religion, are threatened, in order that their energy may be called forth, and that, under God's providence, the safety of the realm may thereby be provided for, and its ancient honour maintained; it having been also thought, that THE CHURCH is the most safe, regular, and certain channel of circulation, as well as the best suited to the importance of the subject: It appears advisable to adopt that mode of communication, more especially as, in the execution of this great national purpose, such material aid may be expected from the wisdom and zeal of the Clergy. In consequence whereof you will herewith receive certain copies of a printed paper, entitled "Important Considerations for the People of this Kingdom." It is requested that you will be pleased to cause part of them to be deposited in the pews, and part to be distributed in the aisles, amongst the poor, on the Sunday following the day on which you shall receive them. There are also inclosed certain copies calculated for posting; one of which is intended to be placed on the church-door, and another in some such public part of the parish as you may deem best fitted for making it known among the parishioners.

IMPORTANT CONSIDERATIONS

FOR THE

PEOPLE OF THIS KINGDOM.

Ar a moment when we are entering on a scene deeply interesting, not only to this nation, but to the whole civilized world; at a moment when we all, without distinction of rank or degree, are called upon to rally round, and to range ourselves beneath the banners of that Sovereign, under whose long, mild, and fostering reign the far greater part of us, capable of bearing arms, have been born and reared up to manhood; at a moment when we are, by his truly royal and paternal example, incited to make every sacrifice and every exertion in a war, the event of which is to decide whether we are still to enjoy, and to bequeath to our children, the possessions, the comforts, the liberties, and the national honours, handed down to us from generation to generation, by our gallant forefathers; or whether we are, at once, to fall from this favoured and honourable station, and to become the miserable crouching slaves, the hewers of wood and the drawers of water, of those very Frenchmen, whom the valour of our fleets and armies has hitherto taught us to despise; at such a moment, it behoves us, calmly and without dismay, to examine our situation, to consider what are the grounds of the awful contest in which we are engaged; what are the wishes, the designs, and the pretensions of our enemies; what would be the consequences, if those enemies were to triumph over us; what are our means, and what ought to be our motives, not only for frustrating their malicious intentions, but for inflicting just and memorable chastisement on their insolent and guilty heads.