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no! the distress does not arise f now tell us, that you expected
from the extraordinary exertions peace to bring distress. - 1,6 of the war." There were not And why did the war bring + extraordinary exertions nade, what was called prosperity? Why
The money was borrowed to pay did it swell: up the farmers and
Austrians, Prussians, Germans, landlords and loom-lords and all · Dutch and French Emigrants, the big ? Why did it cause
and that money. has now to be London and Manchester and Li
paid, and at double tale, too. verpool to swell to double their *This, therefore, is the season for size? Why did it build squares
& extraordinarg. exertions.". Bor- in, and villages round, London ! powing is an easy matter; but to Why did-it raise up palaces all pay is a serious affair ; -and.espe over the kingdom? Because it cially in an augmented scale of engendered a paper-money, which money. . . went on depreciating in value,
Tim., therefore, can do no- which raised prices of food and thing in the way of removing the raiment, which did not raise in present distress ; and to hear due proportion the wages of layou, a Minister, building your bour, and which, therefore, robhope upon the effects of time, is bed, beggared, half-starved nine quite sufficient to convince us, millions aud a half and enriched that you have no remety; and half a million. The half million that the thing will go on, till it drew into masses that which ought go to pieces in a crash. The to have remained with the nine war was a singu.ar var. Every millions and a half; and with these --thing wore the outward appear- masses they made ithat show : ance of prosperity. VẠN, in which was and still is called pro.
1799, before he was made a sperity. . . . ' Commissioner of Scotch Her- This was the cause of war - rings, wrote a pamphlet to show, bringing ,64 prosperity," con. that the war brought prosperity, trary to all former wars. No -- which no other war ever did. This, other war ever brought prosper then, ought to have made him rity; and no other war ever saw
suspect, that peace would bring a depreciating paper-money. Look its" distresses ; but, 'so far from well at this, then, my Lord, and
that, he anticipated still greater you will quickly discover, that * prosperity in peace ; though you time holds out no hope of relief from the present distress. The place from the daily wages of war itself had nothing to do in them all. This goes into the creating the false prosperity. It pocket of the ten, it enables them was merely the cause of bringing to pay taxes, to the twenty and into aetivity the Pitt-paper sys- to build fine houses besides. And, "tem. - The same consequences thus, by means of the false money, would have resulted from a like the grand enterprize of the big-fel. system without any war. "Now, lows goes on, and the'.“ promy lord, lay aside, for a minute “sperity” increases. In time, the or two, all thoughts about the nine hundred and sixty-ninė are bawler Pitt, and hear me state a half-naked and half-starved ; and casę. Suppose a community, or still there is all the outward apnation, of a thousand persons, pearance of prosperity. ...? one big-fellow, ten land peo- But, this is a case of war and ple, twenty money people, and of loans. Now, suppose neither, nine hundred and sixty nine little and that the big fellow merely ones. Each, at the out-set, has wants to make his country look his house, and each person lives fine. He causes a false money well according to his degree. The to be put out. Suppose there big-fellow. wishes to carry on an be twenty employers. They diexpensive affair, and, therefore, rectly. begin to deduct from the raises taxes on the rest much hea- wages of labour. The money vier than usual; but, these not thus deducted from the pine coming in fast enough, he bor-hundred and eighty they apply rows of the twenty money peo- to the building of fine houses ple, and pledges future taxes and keeping of fine carriages. for the payment. This is one The produce from labour is the operation. In order to hide the same in amount as before; but effects of his extravagance, and the houses of the labourers beto give the air of prosperity to come mean and unfurnished; the his community, he issues out a labourers have but half a meal parcel of money, intrinsically and are in rags. Their sufferworth nothing. This raises the ings, their beggary, are not seen, price of the land prorluce, and, but the fine houses and carriages as the wages of the nine hundred are seen; and they are called and sixty nine do not rise in pro-proofs of prosperityWell, at portion, there is a deduction takes last, the big fellow resolves" (no matter from what motive) to put there can be no relief of the an end to his false money! What distress complained of,' without now? Why, prices of food and la putting forth of a false paperraiment fall faster than wages. money.' Let him and you and The nine hundred and eighty your colleagues and “ the wishave the upper hand. The twenty“ dom of parliament" leave the can no longer make deductions matter to time. · I ask no more. from their wages. The fine Let the Bank pay in gold, and houses capnot be kept up; the I am content to leave the whole carriages must be laid down: to time. Let the labourer have his and thus, though happiness is due: let us see the gallon loaf að really coming back to forty nine eight-pence: let us see the ploughfiftieths of the community, a man have two old bushels, eightdreadful howl is set up about een gallons, of best wheat for 66 distress .!”.
his week's work, with a bottle of - This is precisely the nature of beer to carry out to field every the distress now complained of; day ; let us see this, and time and how is this to be removed will soon put out the eyes of by time? There is no removing many thousands of scrip-castles, it but by removing the sufferers and make many and many thou-' from this earthly scene; or by sands of persons walk on foot, putting out depreciated money who now loll in landaus. - . Lote de again, and thereby enabling those. If any thing were wanted to sufferers to re-commence their help out reason in so plain a case, deductions from the wages due we have it in that very Budget to labour. Time will, indeed, speech, which I subjoin to this remove the sufferers, first from letter, and which is a thing to be their lands, and next froin the kept on record, that we may refer world; but, no time, without a to it as the system works its way, putting forth of depreciated pa- along. What! Another loan of per-money, can make them taste thirteen millions in the Sixth year again of what is called prospe- of a “ sudden transition from var rity. So that GAFFER Gooch " to peace /?'. Is not this enough may say what he pleases about to open the eyes even of the not looking for the means of re- blind?. Mr. Van, too, has his lief in “ modern patriotism and hopes of surmounting the diffi“ revolutionary doctrines ; ” for, culties. But, says he, “ in order
« to effect this, it behoves every be not all taken in the forging « man to exert himself to his of them will go on; and, what 6 utmost.” For what, now? is more, the Bank must take the For what purpose is he to make forgeries, or great alarm will be this new set of exertions ? Why, spread, and a run take place as: $ to RESCUE his fortune, pro- to all notes. The sooner, there
sperity and fame, and act as before, the one-pounders are in the , 66 comes a member of this great better; and that will send us gold 2 6 country.” Bless us ! what a into general circulation. The : conclusion ! And, is it really so, fives will follow of course, and my Lord Chancellor, that every then we shall soon have the gallon man's fortune, property and fame, Loaf ut eight pence! That is-my stand in need of rescuing! What! standard ; that is my proof of are we on the pinnacle of glory,” prosperity; and, if you and your and do we yet want rescuing ? colleagues bring it to that, I will Are, we saved, and yet want to never say a word even about SIDbe rescued? Here is a descrip- MOUTH again. I do not care. tion of our state at the end of six about the interest of the Debt. years of profound peace ! And, That is the affair of GAFFER: with this description before us we Gooch and such men. It signi. have to listen 10 your lordslips fies not a straw to the millions, eulogiums on Pitt and his glorious whether the landlords be Jews or systém.
Christians. The gallon loaf for During the Budget-Speech Mr. eight pence, and all will soon be VAN congratulated the House and to rights. the country on the Bank having During the Budget-debate, begun to pay. in specie, and there was a Mr. MABERLY who added, that “ there was now no made some pointed remarks on the “ fear of any further restrictions supposed wish of some persons, “ on the circulation,” I should to reduce the interest of the Debt! have liked this better, if he had The honourable member was as. used the word cash instead of sharp as a needle, and appeared circulation; for this may mean, resolved that the landlords should that there will be no more drawing not be suffered to cabbage away: in of paper. However, it will the interest at any rate. He be very difficult to stop paying basted even those who had hinted in čash now. If the one-pounders at the thing, and seemed resolved
to go through stitch with them if means get' promises from us to they dared to touch so much as a the amount of 150,000 pounds ? shred of the national faith. This Should we then say, that the gentleman “ în doors” took a capital of the parish had increased very gay view of the state of 150,000 pounds ? At this rate things. He said, “ the capital every mortgage causes an increase
of the country had increased, of capital; aye, and every debt “ in 26 years, upwards of too. Even Bank promises to « 600,000,000 millions, “ all promise to pay were, on Mr. Ma. « fünded British Capital." Now, berly's ground, so much capital. my lord, suppose you and I and This appears to have been JUDGE my hundred labourers compose a Bailey's view of the matter, in parish, and that I have an estate the speech ascribed to him as worth 100,000l. and you have having been made at York, in ! 200,0001. in money. Suppose 1819. Mr. PERRY, that “ unaswe go on borrowing from you,' " sailable,invisible,unaccountable and pledging our land and labour " being,” who, according to liis till you have got 150,000). in countryman, MÁCINTOSH, "exowritten promises to pay you the “ ercises almost despotic sway interest on that sum. Shall we over the minds of his readers,” then call those promises “ capi-said, some time ago, that our 6. tal," and brag that the ca- finances could not be in better pital of the parish is increased hands than those of 'Mr. MA150,000 poupds? And, if we BERLY, Mr. BARING, Mr. PASCOE do this, shall we be justified GRENFELL, and Mr. RICARDO; in banishing any one that may to which, with all my heart, I be unable to restrain himself say, Amen! Only I beg leave from laughing at us? Iam, how- to add, Peter MOORE and Edever, here supposing an honest WARD Ellice. transaction, and that you really1 Besides the evidence of our do lend us the gold coin. What, wealth given in the proof of our then, would it be, if a Jew were debts, Mr. Maberly cited the to lend us brass or copper, or to Bridges, Canals, Roads, Fortificatrick us by false calculations and tions, and the increase of the Meusury ; to lend us, in fact, our tropolis! This is quite enough. own money and make us pay dou- It is precisely the idea of every ble interest on it; and by these person of this description. A