third reading pass without some ob- | whether a metallic currency was not servation. He did not object to the likely to be counterfeited to as large Bill, because the payment of the one an extent by coiners, as a paper curpound notes in sovereigns was a mea- rency was by those who forged. sure likely to be attended with great He found on a reference to certain paadvantage. Another reason why he pers before the House, that the number did not object to it was, that it left of convictions for coining within a lithe other important question still mited period amounted to 3,191, while open, he meant the question whether the number of convictions for forgery, a metallic was preferable to a paper within an equal period, amounted to currency? He was one of those, him- 1,581. The inference from this seemself, who held the opinion, that pro-ed to be at least, that no material divided the circulation of the country minution could be expected to take was kept under due restriction, and place under a change of system,an founded on a metallic basis, the less especially as the temptation to coin precious metal there was in the cof-gold was considerably increased by the fers of the Bank, the better for the facilities latély afforded to the imporpublic. But their attention should tation of plating from the Contialso be directed to the general prin- nent. If there was not a material adciples on which the question rested, vantage to be derived from a metallic and which was adopted, as the Noble circulation, a paper one was certainly Earl stated, two years ago. No one the most convenient and economical could be surprised at the facility by machine for carrying on the business which the Bank was enabled to pay of the nation. It had been recomnow, as it might, in fact, have done mended two years ago that the Bank the same eight or nine months ago. should be obliged to purchase bullion As to the question, whether the busi- below the Mint price; if they were not ness of the country could be better obliged to do so, and also to pay their carried on by a metallic or a paper notes in specie, the country would be currency, founded on a metallic stand- left to the mercy of the Bank. If, ard, the present Bill did not profess to therefore, Parliament felt a prefedetermine. The subject was there-rence for metallic above paper curfore still free to the consideration of Parliament, and he would state why he thought it material that Parliament should reserve its opinion. Undoubtedly, if it was possible by a recurrence to metallic issues to put an end to the crimes and executions connected with the paper system, that consideration alone would be sufficient to anticipate their Lordship's judgment; but the more he examined that topic, the more he was disposed to doubt

rency, he hoped they would accompany it with the first of these provisions. He was far from retracting the opinion which he had formerly given on the subject, for he still regarded the return to cash payments as a measure for which the Government was entitled to the thanks of the country. But he would repeat what he had already stated on a former occasion, that it never entered into his contemplation at the time the system

་

as

was recommended that an attempt was the expedient which he thought should be made at the same time Parliament ought to adopt; and it to increase burthens of the peo- was the only one from which he could ple by additional taxation. If it entertain a hope, that the present diffihad been absolutely necessary, culties might be surmounted, and the foundation of future prosperity laid with any prospect of being realized." 'Oh, oh ! The question of Peel's Bill, or

a step towards the resumption of cash payments, that such a measure should be resorted to, it would have materially altered his view of the recommendation then made to Parliament.

left open, is it!

less gold we have

not Peel's Bill, is

Ah, ah! The

in use the better

66
my stomach.!
Paper is
" certainly a more convenient
and economical machine." Old
"He was far"

rags for ever!
(oh, dear, yes!)

from retract

That addition had however been made, and made at a time when reduction was most necessary. The Noble Earl for us, is it! Coiners are become might ask, whether they would aban- more dangerous than forgers are don the principle of a Sinking Fund, they! The importation of plabut they had abandoned a Sinking Fund already, and it was for the sha-tina: O, lord! It really disdow of a Sinking Fund that the country orders was put to the additional expence of three millions. The object of a Sinking Fund was the diminution of the public debt; and he could not help thinking that that object would be better answered by relieving the people ing his opinion; but (I hate from taxation, and allowing the coun-buts) it never entered into his try to recover its prosperity. He felt contemplation." Not it, indeed; in the year 1819 and in the present but, then, it ought to have entered. moment, that there were but three courses to be pursued, in order to prepare the way for the resumption of cash payments. The first was to diminish the interèst paid to the public creditor; but that implied a breach of faith, which he could not contemplate under any circumstances without horror.

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This

view."

materially altered his

This is all very pretty indeed. And, now, to begin with the last, what is it? Come, out with it. Tell us what it is that has altered

your view, my good Lord. Why, new taxes were laid on, which you did not expect! Not expect? Why, did not the Ministers tell you that that made an essential

There was another way more equitable in its nature, though perhaps equally dangerous as a precedent, that was to alter the denomination of the coin and standard; and the third was to diminish the expenditure of the country, so as to enable it to bear part of that plan? Did not the the inconvenience to which so great a new-tax bill go almost hand in change would expose it. This last hand with Peel's Bill? Were

The Marquis has found but, by some means or other, that coiners are more dangerous than

paper, called a petition, before the famous House, the other branch of the "Great Council of

they not both before the Houses the country. This was the lanat one and the same time?guage of the Speaker, when he But, did you not know, that addressed the Regent at the close Peel's Bill itself would make a of that session of all sessions, great addition to the taxes? Did except the Six-Acts session of you not know, that it would, in that same immortal parliament ! fact, double the taxes; nay, treble Therefore, my Lord Milton, it is them? This has now been found the very heart's core of the Bill out even by the "Corinthian that the noble Lansdown here "Pillar," to whom I am ad- seems ready, not only to abandon, dressing this Letter. Therefore, but to describe as bad in itself. good my Lord Marquis, this is no fair ground for a change of opinion as to Peel's Bill. .. Besides, this new doctrine of forgers. He has, it seems, seen yours goes at once to the very heart a paper, whence he has been led and soul of Peel's Bill; to its very to this conclusion. There is a principle; for, you say, that the less gold, the better for us; and that paper is a more convenient machine, a more economical machine, than metal. Old rags for ever! But, is not this a retracting of your opinion? Was not the principle of Peel's Bill this that we ought to return to the ancient standard and eurrency of the country? What other principle had it? I do not implicitly A stone, a bit of metal, a bit of rely on speeches, or, rather, re-prepared leather, will tell in a ports of speeches; but I appeal moment whether coin be good, or to the public, wether the main bad. Besides, the difficulty and drift of the arguments in support expence of coining are great, of the Bill was not, that the ho- compared with those of forging; nour as well as the safety of the and, it must be in small sums too. nation required a return to the In short, the comparison is ridiancient standard and currency of culous, and can be regarded as

66

the Nation," as Mr. PERRY calls it, which states, that Mr. GIBSON, in the Strand, had, in one week, received twenty forged notes. Did ever the like happen with coin? Where are the hangings for coining? Stuff! Oh, no! Coin is easily detected, if base.

nothing more than a make-weight Habeas Corpus Suspension and in the excuses for a lurking design to abandon the Bill, that Bill which was to settle the matter for ever, and which was to put a final stop even to all talking upon the subject.

Power of Imprisonment Bill was before the Right Honourable House in 1817; only do that, and you will not fail. Only do that, and we will stand by you in millions upon millions.

Already does the labourer and artizan taste, liberally taste, the fruit of this beneficent measure. They do not get coin yet; but the very fact that coin is approaching fills their bellies with food and their hearts with gladness. Even Heaven itself would seem to bless the pious resolve; for never do I remember so propitious a season. Here we are with the Hawthorn

I trust, that the Ministers will stand to their resolution. But, how can they yield! How is it possible to suppose that they will give way? Covered with disgrace no men ever wished to be; and yet, even this wish must we impute to them, before we can think that they will abandon this measure. Their very wives would call them cowards. Lady Liver pool might say, with Lady Mac-in bloom in the first week of May; beth, "1 have given such; and "know how tender 'tis to love the

babe that milks me: I would, ❝while it was smiling in my face, "have plucked my nipple from "its boneless gums, and dashed the brains out, had I but sworn as you have done to this.". MACBETH" If we should fail." LADY MACBETH" We fail! "But screw your courage to the sticking-place, and we'll not so say I to Lord Liverpool. Only, my good Lord, pursue the dictates of your own great mind; only push on in the "stern path of your duty," as you said you would when the

fail." Ande

the

fine warm weather, with gentle rains; the wheat eighteen inches high even in the heavy lands; and, if the summer be warm, quartern loaf will be sold at five pence, in London, before next Christmas Day! At Southampton that loaf is now, sold at six pence, and good mutton at four pence a pound. In London some par's of the mutton are sold at four pence aud even three pence a pound; and some parts of the beef at two pence. Where do we now see the miserable creatures picking the potatoe-peelings out of the kennel to eat, as I many times saw them in 1812 and 1817?

And, again and again, I ask, is there a wretch so bereft of a heart

Trash with the oak-leaves bound on his brows! OTWAY talks of

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Cas to wish to see these scenes a curse to kill with;" and is return? Such an one is not a there not here a thought to slaugh-man, but a monster; what, then, ter ministry and " Areopagus" at must a minister be, who should a single blow? Oh, no! Have yield to the out-cry of such mon- this feast we must not, though, as Isters? He must be the cruelest our "immortal bard" says, "both. "worlds meet, and the sea swal"low up the welkin."

.

of oppressors and a traitor to his

And yet, how to avoid it? The Bill must be pushed on. Aye, if that were all, the thing were bearable. But, then, how can it be pushed on without reducing the interest of the debt? Here is the other horn of the dreadful dilemma; for, the condition is, that the Bill is to go into complete effect WITHOUT a reduction of the interest of the debt! And, if it do, I will not wait to be broiled; but, like OLD BOOTY, I will, of my own accord, rush headlong into flames of fire.

Sovereign. 'If If we could suppose it possible that the Ministers were dead to all feeling for the long-suffering millions of English people, still they must feel for themselves; and yet, what feeling of that sort can they have? What sense of honour, what desire to be esteemed, what dread of shame, can they have, if they even faulter in this thousand times over declared unalterable resolution! National faith, indeed! What faith, what reliance, could, after a breach of this promise, ever again be placed on them, or, indeed, on acts of parliament! Why, to anticipate the feast of the Gridiron alone must make men of any feeling distracted! No room, and no house, in England would hold the persons that would come to this feast. Probably a series of tents must be erected for the day of celebration. Only think, my Lord, of the mortification of Register. It follows, of course, seeing the author of Twrpenny that I wish the interest of the debt

Be assured, my “Jacobinical” friends; he assured, readers of the "Twopenny trash;" be assured, you who like "weekly ve

16

nom;" be assured, that I am And, not doomed to do this. why, then, my Lord, do I wish the Bill to be pushed on? I have fully explained the grounds of my wishes, in the late and the present.