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ing. For, observe, the country cash payments as there were in Bankers have no protecting law, 1817; let us have no Bills fun till all the one pounders of the big through the Houses at full gallop, Bank are absorbed or drawn in. to prevent present payment of penIf I have a one-pound country nies in order to secure the ultimate note I can make the jockey, that payment of pounds ! Let us have issues it give me a Threadneedle- none of these old tricks ; let all street note for it, or, which is a be fair and honest and in earnest,
great deal better, give me twenty and I will go and clap the old | shillings in silver or in gold. If Bank Directors upon the back, at. he give me the metal, I am safe; the risk of being indicted for'an if he give me the big Bank's note, assault. « Well done !" will I I send it to London and turn it say, “ ye good and trusty old into gold. Nay, the thing does " blades: ye have, indeed, done not stop here ; for, as soon as the “ us monstrous mischief; but now Act is passed I can get gold for a " ye are in the right track to ten-pound note or for a note to make reparation. Give us any amount. I have, for instance," Gold, and we will soon have a fifty pound note. I go to the “ Reform.” And having said Bank and demand payment in this I will give them each two or gold. They refuse me. But they three pats upon the back. They cannot refuse, when the Act is may hold a council, whether they passed, to give me one-pounders will mulct me or imprison me for in exchange for my fifty-pound the assault; but they will not have note; and then I demand gold for the power to cause me to be my one-pounders ; and if they hanged!
give it me; and if they continue But, Sir, the worst of it is that , to do this to me and 10 every body there is nothing certain here;
else for any length of time, such that the act does not compel the . as six months or so, I will say that Bank to pay; that it is a droll they are clever fellows; and will sort of act, leaving the Bank to forgive them for all my share of pay or not to pay as it pleases. the injury they have done. It may pay to some and not pay
But, Sir, let us have none of to others; and I am very much their old tricks; let us have no afraid, that we shall hear a-great alarms for the *s safety of the deal about paying, and see very “Hoúse;" let us have no such little of it. If this be the case, it
is manifest that there will be no cute if they would, and that they paying at all; and that forged should have the assistance of the one-pounders will be as frequent Bank! What pretty scenes are as they are now; and will keep these! What a system is this ! circulating to the great benefit of The truth is, that the Bank the farmers, forming, as they do fought to make good all losses by at present, no inconsiderable por- forgery ; seeing that to take their tion of that “ standard of value," paper is compulsory on every Crewhich has grown out of Pitt's ditor, if the Debtor choose to in• solid system of finance.” sist on it. If a man buy a horse
However, some Gold will get of another, the bargain being out. it is hardly possible that made, the seller must have the the thing will end entirely in talk; notes or nothing. He has no reand, whatever portion of it does medy; he has no means of enget out, will soon find its way into forcing payment in coin. He is safe and tenacious hands. It is not connoisseur enough to know not long since Mr. Gibson of the whether the notes be forged or Strand, in a petition to that not; but still he musť take them; House, to endeavour to bring for, upon tendering them, the which into contempt is to be pu- buyer can take away the horse. nished with banishment, stated, As to the buyer writing his name that he had, in the course of his upon the notes, he is not compelled business, taken twenty forged to do that. He cannot be comnotes in the week. Four people pelled to do it; and, therefore, were brought before Mr. Alder- the seller has no security, unless MAN Heygate a few days ago, the Bank be to take in every note on a charge of having uttered bearing its name. I go to a shop, forged notes; two of them were and buy a hat. The price is a women, each charged by a shop-1 pound. I lay down the pound keeper with the crime just men- and take up my hat. The purtioned. The Bank agent ap- chase is made. The tender is peared, and said that the Bank made, and I bring away my hat, had considered the cases; and in spite of the hatter. He asks had determined not to prosecute! me to write my name upon the ' Here is a pretty parcelling out of note. I refuse. He seizes hold punishments! He told the com- of me. I indict him for an asplainants that they might proses sault, which to a certainty I would
do. Upon my refusing to write People in this distressed state my name upon the note, he asks of things, are so eager to sell, me my name. I will not tell that they will take almost any him; and he cannot help him- 'thing. But, when the forgeries self. I tell him my name, or he are calculated to form a sixth part happens to know me, and he of the one-pound notes, it is writes iny name down upon the worth any man’s while to give note. He finds the note to be a something for security. Threeforgery. He brings it to me. I pence in the pound would probatell him to keep the note and do bly be enough at first; and this the best he can with it; and this is what I would do, were I in a to a certainty is what I would do retail shop, and could obtain sein every such case; except I curity upon such terms. Nay, I knew the man and looked upon would give sixpence; and that his word as being as good as bis wou'd do ibe business. I should oath, he has no remedy. He at any rate be clear of all partican swear that he took it cipation, directly or indirectly, from me; but he must have in bringing unfortunate creatures somebody else to swear it, or else to the gallows, or tearing them we are every soul of us in jeo- from their families to send them pardy. Ought such a system as into perpetual slavery. I never this to exist? Ought the Bank touch the accursed paper that I to be suffered to break the pro- do not think of the temptation, mises upon the face of its notes; that I am, though against my to derive enormous advantages will, assisting to hold out to from that breach of promise; and those, who, but for the temptaouglit it, after this, to throw all tion, might live a life of innothe loss upon individuals that this cence. breach occasions ? If, indeed, The probability is, however, we could turn the paper into that the greater part of the Gold Gold at pleasure, the Bank could (if any should be issued at last) not be justly called upon to make will find its way into the hands of good a forgery; for, then the the farmers' wives, maiden wo ) holder of the forged note might men and servants, who, I am be silenced at once by being told: afraid, still call themselves girls, you should not take our notes, if you are not able to distinguish though they are turned of thirty. them from forgeries.
These are the prudent part of the
creation. Some old farmers that! As to Friendly Societies and cannot write, and that do not all contributions and funds of that know what the words discount and sort; they are all foolishness to accommodation may mean, know be sure ; but, at any rate, the exceedingly well that paper is not parties should see that they are Gold ; that paper will burn and kept in real money. And not that Gold will not ; that a guinea find, at last that they have a or a shilling in a chest is still a worthless rag in exchange for guinea or a shilling, though all twenty silver shillings. the Bankers in the County may There is a Mr. Monck, that break. These are persons, who, has lately talked a good deal when they see some gold and about this paper system, and that silver about, will be very apt to has observed that one cause of make a sovereign exchange places the people being likely to prefer with a one-pounder that they may Gold to paper was“ malevolence.” have happened to lock up in their “ There was a feeling (said he) chest. Such persons say nothing - arising, perhaps out of the disat all about having money ; but “ tress of the time, which would they think a great deal about it. " induce many persons to demand They will certainly endeavour to " Gold for the purpose of doing impound some of the Sovereigns" rischief. A great portion of that they may see upon the stray ; " the people were at war with and, if any considerable quan:ity“ the House of Commons; and should happen to get out, either with many of them it was a now or at any future time, such" maxim not to attack the Horse persons will begin, as Paine calls “ Guards but the Exchequer.” it, to have a predilection for them; Very good, Mr. Monck. That is and they will soon fall upon the my maxim; but not from mameans of getting them into their levolence ; not for the purpose of hands. When they are, at doing mischief; but from motives market, and are making their of good will to men, and for the bargains, they will not say at purpose of doing good. You, once : “ so much in money and who have got into the House of “ so much in paper.” But they Commons, find that body I dare will find out what sort of money say, the wisest and most pure in they are going to get; and they will frame their agreements ac
the world, and I shall not say ·cordingly.
that I differ with you in opinion.
It is no crime yet, “ to-morrow, But, that this may be of some use “ faith it may,” to prefer Gold to to you, I must say a word or two Paper ;, and in spite of all the about your making bread, in prehopes to the contrary, to paper ference to purchasing it ready will gold be preferred, let the made ; and before I do this, I consequences to the system be must, even here, remind you of what it may. Here I put an end the perniciousness, & even waste- , to this loog Jetter, a copy of which fulness, of using potatoes instead I shall send, Sir, to your tutor, of bread. Dr. Coplestone, humbly hoping, In the potatoe there is bulk, that if he has riothing better to and, there is still more bulk in bestow in return than such grass or hay for the same money. pamphlets as he sent to you with Bulk, therefore, is nothing : it his blessing, he will be pleased, is the quantity of nutriment, that. in his charity, to keep, both to we are to look at; and I have himself; or, if he must send me proved, that there is as much nu.. one or the other, to send me the triment in one pound of flour as letter (as the Bishop of Chester in ten pounds of potatoes Flour, sent his blessing to Mc. Innes) the very best (and the best is the and to keep the former to bestow cheapest) is not more now than 2}d. on other great young statesmen, la pound. Ten pounds of flour that shall come forth from under will make full thirteen pounds of his hands, to be our directors and bread; and the ten pounds of preservers in these days of dif- flour cost 25 pence. For 25 pence ficulty and distress.
you may, perhaps, get two WinI am, Sir,
chester bushels of potatoes ; and Your most obedient, for the cost of a bushel of flour, and most humble Servant, you may fill half your house with WM. COBBETT. potatoes ; for it will give you
eleven bushels and about two galTO THE DISTRESSED STOCK
lons, and will weigh 622 pounds, ING WEAVERS.
or thereabouts! The very cars,
riage of this immense weight, if In my last, I promised you, it is to be a couple of miles, is that I would tell you how to make worth half a crown at the very : yeast, wiih very little expence, least farthing, even supposing not more than a farthing a batch. çarts or waggons to be regularly