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Sidmouth were fools or idiots.-My opinion | is, that every species of property in this kingdom is equally secure. But the stockholder must know, that if the debt is swelled to a magnitude which incapacitates the nation from paying the interest of it, a partial bankruptcy must be the consequence. There is no legal remedy against a national act. But the stock-holder knows that his interest will be paid as long as the nation can pay it, without ruin to the people. He knows that he has no claim upon the nation for the principal, unless it chooses to pay him off at par. But still he possesses a property convertible into money at the price of the day, and he takes the chance of loss or gain, For the interest he has the strongest possible claim: the faith of the nation solemnly pledged to him, and continued for more than a century, never once violated in all that period; nor does the case which you quote in Mr. Pelham's administration alter the faith, because they who did not choose to subscribe to his plan, had the option of being paid for their stock at par.-Mr. Fox's sentiments I have reason to believe are simiJar to mine on this subject. It is not setting up a monied in opposition to a landed interest. The question is, to whom must a minister go when he wants to borrow money? Undoubtedly to those who have money to lend. You are not to inquire after you have taken his money whether it was gained fairly or unfairly. But if a minister can prove that the public has been defrauded by an individual, whether he be a contractor, a loanjobber, a clerk in office, or a cabinet minister, it is his duty to prosecute him to conviction, and to compel him to repay the sum of which the public has been defrauded.The largest fortune made in the seven years war, was made by an army contractor; was he ever accused of having defrauded the public? Would you now seize his children's nroney in the funds, or sell their landed estates for the public benefit, because their father was a successful contractor? Would you break the public faith with the loan contractors, because though they lent money to the nation at 5 per cent, they might have made 7, 8, or even 10 per cent by their bargain?Nothing can be more dangerous, or more unjust than to make a distinction as to the superior right which au individual possesses to one part of his property over another. How much of the landed property of this kingdom and of Ireland, was violently and unjustly taken from the church and granted to the personal favourites of Henry the Eighth; almost the entire fortune of some persons, consists of church and abbey

lands, granted to their ancestors. How many in Ireland were dispossessed of their estates by Oliver Cromwell, and how many more subsequently by King Williain! If your arguments were just, why should not the stock-holder propose that the nation should resume all former grants of land, in order to perform their recent engagements? I have some land which has passed to me by descent from 1180, and why should not the stock-holder question my right, to what at that early period might have proceeded from an arbitrary grant of a despotic sovereign, with as much justice as I should deny his right to call upon the nation to comply with its solemn engagements to him?-As early as the reign of Queen Anne, when the funding system was in its infancy, Dean Swift predicted that a new order of men would spring up, and that in time the monied would bear down the landed interest of the country. This growing evil he imputed very truly to the revolution, which iatroduced continental connections, continental wars, and the Dutch system of funding, in order to attach monied men to the new government. But, though Swift lamented this change in the constitution, and the feeling of the country, he did not dispute the right which these new men had to their property, He even laments the increase of commerce as a public misfortune, because it lessened the consequence of the clergy, and of conntry gentlemen. But he does not recommend the breaking open the merchants warehouses, nor the destruction of their goods. An idea has long prevailed with many, that the nation will not be able to pay the interest of its public debt. Mr. Thomas Pitt (Lord Camelford) entertained this opinion, and avowed it in the House of Commons at the peace of 1783. But his argument did not at all go to dispute the right of the public creditor to be paid, if the country had the power to pay him. Now we have a debt, and interest upon it, more than double what it was in 1783, yet still the interest is regularly paid. The funds it is true have been directly taxed both by Mr. Pitt, and Lord Sidmouth, but every other description of property has been taxed also at the same time.The public confidence in the justice of the nation keeps up the funds, notwithstanding the enormous amount of debt, and the additions which must annually be made to it, if this war should continue. Yet no stock-holder can be so stupid as not to consider, that, making every allowance for the change which an increase of debt makes in the relative value of money, there must be a point, beyond which the funding sjş

217] FEBRUARY 15, 1906-Fund-dealing Clergymen.-West-India Planters. [219

tem cannot be carried. Though Sir Robert Walpole in 1739, was mistaken when he said that this nation though it could bear a debt of 100 millions, would be bankrupt if the debt exceeded that amount; though Mr. Thomas Pitt was equally mistaken when he conceived that in 1783, it could not pay the interest of a debt of 240 millions, yet, if the present debt should increase to one thousand millions, which it well may in a long war, there are few who will conceive that the nation can pay the interest on a debt of that amount. What, then, will be the question? Surely not as to the right of the stock-holder to receive his interest, but as to the inability of the nation to pay it. A. Z.

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FUND-DEALING CLERGYMEN. SIR,In your numbers for the 28th of Dec. and 18th of Jan. last, you animadverted, with your wonted energy of style, upon the conduct of two clergymer, who, in their teal to promote the patriotic subscription at Lloyds Coffee House, have stepped somewhit beyond the bounds which decency, and a due regard to the sanctity of their office, would have prescribed. I am no less an enemy than yourself to appeals, either to the Vanity or the fears of people, in applications of this nature, particularly when those appeals are made by clergymen in their official capacity. At the same time, Sir, I think you have not acted with your usual candour in passing an indiscriminate censure upon the whole order, because some individuals of that order have (to use your own words) "shewn themselves to be of a party with "the fund dealers," or "become the echo "of the placard at Lloyd's." Having the honour of belonging to that respectable bo dy (for so I believe the clergy are generally esteemed, and have often been admitted even by yourself) which you have attacked, it is natural that I should feel jealous of its credit, and anxious to assert and vindicate its general purity. I mean not, however, to offer any spology for the gentlemen, whose names you have mentioned; and, for the rest of the clergy, who have made collections in their charches, you have yourself suggested an apology, in á subsequent part of the paper above quoted, when you express a hope, that they have in most instances acted with

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more alacrity than thought." But you appear to me, Mr. Cobbett, to have greatly over-rated the number of those clergymen, who have raised contributions in their pafishes for the Lloyd's fund. A cursory inspection of the newspaper reports may conVince any one, that they bear but a small

proportion to the collective body of the clergy, whose number in England and Wales is usually estimated at eleven thousand.. It is evident, therefore, from this comparison, that a very considerable majority of them have had no share in the crime, which has provoked your displeasure. For myself, I entertained scruples upon the subject from the first, for the reasons so properly stated by the churchwarden of Ickleton, and determined, in consequence, to have no subscription in my own parish. My determination was confirmed by your Register of Dec. 28th, and I take this opportunity of acknowledging my obligation to you for those more correct views of the dangerous principle, upon which the fund is established, and the unconstitutional effects, which it is cal culated to produce which you have unfolded with so much perspicuity and force in that, and the Register of Jan. 18th. That the clergy are exempt from their share in the general corruption, which has diffused itself through every rank and class of the community, I will not affirm. That they partake of it in a larger measure, than the rest of the community, I will strenuously deny. All I desire is, that the same impartiality may be extended to them, which has so uniformly characterised your useful publication, and that the sins of individuals may not be imputed to the whole order. I am, Sir, &c. CLERICUS. Feb. 7, 1800.

WEST-INDIA PLANTERS.

SIR-In your register før Feb. 8, in your Summary of Politics, page 170, you say, "The West-India colonists have complaints, "and just complaints too, of a long stand"ing. In consequence of restraints and "imposts both operating at once and with

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a degree of force far beyond the power of "resistance, the islands have been reduced

almost to a state of desperation." To convince the minister for colonial affairs and the public of the truth of the above assertion, I will, in as few words as possible, represent my own situation, and, I imagine, that of the greater part of the colonists to be as bad or worse. My estate is in the island of Jamaica, and my crop shipped from thence this year, was 350 hogsheads of 12 cwt. of sugar each. There was also made on my estate 150 puncheons of rum: The rúm made on my estate has always hitherto been sold in the island, to pay the contingent expenses of the estate, and which expenses consist in island taxes, purchase of lumber, commission to agent, &c. &c.; but, this year, owing to the restraint on our intercourse with America, it remains

unsold in my warehouse. Had it been shipped to Great Britain at the price at which rum has sold this year, it might have produced me clear 101. sterling per puncheon. The invoice of goods shipped by me from this country for the use of my estates this year, amounted to 2,1001 sterling. The contingent expenses of my estate in Jamaica amounted this year, to 4,4001. currency. Exchange at 140 per cent., is 3,1501. sterling. These have been considerably increased this year by martial law twice proclaimed. My sugar has sold at various prices; but the quality being moderate, it has averaged about 70s. per cwt. The duty on sugar is 278. per cwt. Freight from Jamaica 10s. per cwt. Insurance and other charges 7 per cwt. Total 44s. per cwt. which, deducted from 70s. leaves me 26s. per cwt. nett.-Let us see how my account will stand. A hogshead of sugar 13 cwt. at 26s. per cwt., is 161. 10s.

Therefore 350 hhds. at 161.10s.

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Here is 5251. to pay the interest of 50,0001. sterling which my estate has cost me, setting exactly 1 per cent. on my capital. If my rum had been shipped to this country and sold at the low price of 101. per puncheon, my returns would have been 2,000l. sterling, which is 4 per cent. on my capital, and this is the boasted profit of West Indians.-But, Mr. Cobbett, from this sum of 525 1. must be taken a sum for casualties, purchase of negroes, and though last not least, the interest of the debt due from me to my West India merchant, so that with my sugar selling at 701. per cwt., and my rum unsold in Jamaica, owing to the absurd restraints put on our trade with America, my debt to my merchant is unavoidably increased, and my family without support for the ensuing year. That the above is a fair statement of my own case, and that of many of my unfortunate countrymen, may be easily ascertained by applying at the counting houses of Messrs. Longs, Messrs. Hibberts, Messrs. Taylor, or any other West India houses.-To obviate the calamities of the West India planters, it will be necessary immediately to send out orders to re-establish the trade between America and the British West India islands on

the old footing, to lessen the duties on sugar and rum, to encourage the use of the latter spirit in the British navy in preference to foreign spirit, and to check the further importation of East India sugar, by loading it with an additional duty.-The duty on East India sugar at present is 371. per cent. ad va lorem, now 27 s. per cwt. on sugar selling at 70s. per cwt. amounts pretty nearly to that sum. The proper time to take the above premises into consideration is at the commencement of an administration, of whom I only hope to have it in my power to say, that their conduct in every respect forms a perfect contrast to that of their predecessors. -I am, Sir, &c. A WEST INDIAN.—Winchester, Feb. 10, 1806.

PUBLIC PAPERS.

NAPLES AND FRANCE.-Proclamation issued by the Emperor Napoleon, dated Schoenbrunn, Dec. 27, 1805.

Soldiers, For ten years I have done all I could to save the King of Naples: he has done every thing in his power to destroy himself. After the battles of Dego, of Mondovi, and of Lodi, he could give me no effectual opposition. I placed confidence in the word of this Prince, and I behaved with generosity towards him.-When the second coalition was dissolved at Marengo, the King of Naples, who was the first to commence that unjust war, abandoned at Luneville by his allies, remained alone, and without protection. He solicited my pardon, and I forgave him a second time.-A few weeks ago you were at the gates of Naples. I had suf ficient reason to suspect the treachery which was intended, and to avenge the insults which I had received. Still I was generous. I acknowledged the neutrality of Naples; I ordered you to evacuate that kingdom, and, for the third time, the house of Naples was confirmed and saved.-Shall we grant par don for a fourth time? Shall we, for a fourth time, place any confidence in a court, without truth, honour, or common sense; No! No! The Neapolitan Dynasty has ceased to reign; its existence is incompatible with the repose of Europe, and the honour of our crown.-Soldiers! march, drive into the sea, if they will wait your attack, these feeble battalions of the tyrauts of the sea. Shew to the world the manner in which we punish the perjured. Lose no time in informing me, that the whole of Italy is subject to my laws, or those of my allies; that the finest country of the world is emancipated from the yoke of the most perfidious of men; that

of subsequent events. I thought my duty to you, and the whole mass of my subjects, called upon me to remain near the Combined Armies. I chose a representative, who en

the sacredness of treaties is avenged, and that the manes of my brave soldiers, massacred in the ports of Sicily, on their return from Egypt, after having escaped from the dangers of the sea, the deserts, and a hun-joyed your confidence and who was every dred battles, are at length appeased.-Suldiers! my brother will lead you on; he is acquainted with all my plans; he is the depository of my authority; he is in full possession of my confidence; let him have yours. (Signed) NAPOLEON.

SWEDEN. - Declaration given in ly M Bildt, the Envoy for Swedish Pomerania, at the Diet of Ratisbon, Jan. 13, 1806.

His Swedish Majesty has directed the undersigned, his Envoy Extraordinary and Minister Plenipotentiary, to declare to the Diet of the German Empire, that the offences daily committed by many Members of the Empire, against the Constitution they have sworn to maintain, are contrary to the principles of honour and virtue. His Majesty has long since foretold the unhappy consequences of the disputes which have prevailed among the members of the Empire, as well as the consequences of the want of respect which they have manifested towards the German Constitution. The sentiments and principles of His Majesty are too well known, and have been too often expressed to the Diet, for it to be necessary that he should repeat them; especially at a time when we must not speak the language of honour, and still less observe its laws, if we wish to be heard. His Majesty, therefore, considers it as beneath his dignity, from this day forwards, to take any part in the deliberations of the Diet, so long as its decisions shall be under the influence of usurpation and egotism. (Signed) VON BILDT.

FOREIGN OFFICIAL PAPER. VIENNA. Proclamation to the Inhabitants

of Vienna, issued by the Emperor of Austria, dated Feldsberg, Jan. 15, 1800.

Francis II. by God's Grace, &c. &c.When I removed from among you, I had no small inducements for believing that our separation would be but of very short duration, as it was then my fixed resolution, immediately after the conclusion of the Hungarian Diet, to return to Vienna, and to remain with you as long as my residence would be consistent with my duty; and which would have permitted me to extend the care of Government to the whole nation. This resolution was impeded by the course.

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way worthy of it. I, however, interested myself for you, and made every exertion in your behalf which the untowardness of affairs would permit. You may be assured, that nothing can be attributed to a want of precaution, which has prevented the preservation of a permanent security; and that no efforts of mine were wanting in the way of negotiation, to obtain that lasting rest and security necessary for my oppressed country. This desirable event was not obtained soon enough for my wishes, but yet, as soon as the nature of a business of such importance for the present and future would allow. present, the unhappy period of separation is past, I return to you impressed with sentiments of your inviolable attachment and fidelity, your vigilance in the preservation of order and tranquillity, your readiness to alleviate, by your benevolence the sufferings of human misery.. You have left no duty without fulfilling it, no virtue unexercised : you have merited the esteem of your fellow citizens, and have obtained, by your conduct towards foreigners, the strongest claims upon my gratitude: and though at a distance from you during these several trials, I derived from these sentiments, consolation and tranquillity. But while I gave myself up to these sensations of joy, which must await my return among my loyal people of Vienna, at a period of such importance; and while, in the interim of the happy meeting between the Prince and the People, should the past be forgotten for a moment, still do not indulge the idea that I have not an intimate knowledge of your situation, or that it has escaped my mature consideration. Yes, good people! you have, indeed, sustained vexations which have shaken the foundation of your well being. I am not under misapprehensions in any respect, relative to what has passed, but I have taken pains to prosecute such an inquiry into the state of affairs, such knowledge being absolutely indispensa ble, as it must lead to an union of means, commensurate with our necessities.—What I have already effected, under the pressure of so many obstacles, to prevent any want of the necessaries of life, while the consumption was so much increased, is well known. I shall in future let nothing be wanting that prudence or foresight can suggest, for securing the means that may still. lead to an object so dear to my wishes. Res.

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Proclamation addressed by the Archduke

Charles to the Austrian Army, in consequence of the conclusion of Peace at Presburgh.

His Majesty has, out of love to his people, concluded a peace. He could have relied on the valour of an army which remains unconquered by the enemy, and which has defended the rights of the Sovereign with equal firmness in Germany and in Italy; but the paternal feelings of His Majesty would not permit him to prolong the sufferings which his faithful subjects endured in a period of hostility, and he has therefore hastened to free them from the dangers which are attached to the uncertain fortune of war. The troops must now return to the peace establishment, until the protection of the throne and the country summon them to new dangers and new glory. I hope that the officers and privates will render this period of repose subservient to the improvement of the army; that they will preserve their giscipline and military spirit; and that they will employ their collected experience to the advantage of the service, and the future ho nour of His Majesty's arms. For those who have evinced so much attachment to my per son, my sincerest gratitude accompanies them. I shall seck every opportunity to prove that the good of the army is the most anxious wish of my heart.

(Signed) CHARLES, Field Marshal.

DOMESTIC OFFICIAL PAPER. TRINIDAD-Proclamation, by his Excellency Thomas Hislop, Esq. LieutenantGovernor and Commander in Chief in and over the Island of Trinidad, and its Dependencies, c. dated Dec. 14, 1805.

Whereas there are strong reasons to apprehend that this colony is threatened with internal dangers, from the nefarious machi

nations of ill-disposed negroes and slaves in this community. And his Majesty's council of the said island having recommended me to adopt the measure of martial law, I have therefore thought fit, by and with the advice of his Majesty's said council, to issue this my proclamation, and do hereby declare, that from and after the publication hereof, martial law shall be, and is hereby, in force, until further orders, of which all his Majesty's liege subjects are required to take due notice, and govern themselves accordingly. of all descriptions, and of all colours, are And all his Majesty's good and loyal subjects hereby called upon to make every possible exertion to defeat the diabolical plans supposed to be in agitation. And as the purpose of this my proclamation is for the more speedy and effectually suppressing such dangers only, I do hereby, by and with the advice of his Majesty's said council, authorise all civil courts of justice, to remain and continue in force, notwithstanding martial law. -And whereas, under the present circumstances of the colony, which involve its very existence, it is proper and expedient that all persons must suffer temporary and individual inconvenience for the general welfare of the community, and that the most exem plary and summary punishments should be inflicted on all offenders, notice is hereby given, that the several patroles will be ordered to take up all negro and other slaves, who shall be in any of the streets of Port of Spain, after eight o'clock at night, and to lodge them in security during the night, that such negro or other slave or slaves, who may be found to have offended against any of the ordinances now in existence, will be immediately punished with death or otherwise, according to the regulations of the said ordinances. And in order to give the most public notice of the hour of 8 in the evening, not only the gun at the sea battery will be fired as usual, but the bells at the Spanish catholic church will be rung for the space of five minutes; and all such negro or other slave or slaves attempting to escape from the patroles, will be immediately shot. All persons concerned, are, therefore, requested to make the same known to their several slaves. -Given under my hand and seal at arms, in council, at Government-house, this 14th day of December, 1805, and in the 46th year of his Majesty's reign.-THOMAS HISLOP. By his Excellency's command, W. HOLMES, Secretary.God save the king.

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

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