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ty, on a footing with Paris. There are eight great public libraries in that metropolis, besides the one belonging to the institute, which contains above 16,000 volumes, where the learned men belonging to that national establishment constantly meet, to discuss all questions connected with science; the advantage of which is inestimable. A building for the same purpose ought to be erected in London, at the public expense, where the learned may be supplied with every publication necessary for their inquiries.' Small pensions, also,, to deserving literary characters, who may require such aid, ought not to be refused.

3. Public institutions for the improvement of agriculture, accompanied by experimental farms, would soon bring that art to a degree of perfection not otherwise attainable; and by establishing. experimental gardens and orchards, what improvements might not be made in the art of horticulture and orcharding? The management of woods and plantations, also, might likewise be greatly ameliorated by public encouragement.

4. The improvements that might be made in our manufactures,, at an inconsiderable expense, can only be credited by those, who have directed their attention to such subjects. By public exhibitions of the various articles made in this country, and rewarding those who excelled in the manufacture of them, great encouragement would be given to improvement. By importing, also, specimens of the finest manufactures of other countries, to be publicly exhibited, new ideas would be given to our industrious workmen, of which they would soon avail themselves, and would probably improve.

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5. A board for the improvement of commerce would likewise be of infinite advantage. It might be the means of furnishing our merchants with much important information respecting foreign markets for their goods. The publication of useful books might thus be promoted, and improvements made in the arts of ship-building and navigation, by which the extension of our commerce might be greatly facilitated.

6. A board of mines might be of the greatest service in regard to that important source of our wealth. Tu mineralogy, other nations, in particular the Germans and the Swedes, excel us. But under the direction of such a board, a mineralogical survey of the kingdom might be taken, and the extent of our subterraneous trea

'All these public buildings ought to be erected in St. James's Park, where they would appear to the best advantage, and would be placed in a sufficiently central situation.

2 The author of this work, several years ago,, brought over with him from Germany some specimens of China manufacture, which he sent to the Messrs. Wedgewood;; who considered the hints thus furnished so useful that they insisted on his accepting in return a complete desert set of their beautiful ware..

sures ascertained. Such an investigation would be the means of adding more solid wealth to our national resources than the mines of Peru and Mexico could furnish.

7. Another source of wealth still remains, which might be greatly promoted by public encouragement, namely, the fisheries. With an increasing population, this means of subsistence ought to be carried to all the extent of which it is capable. This might soon be effected under the inspection of a fishery board, properly constituted; and when it is considered what has been effected by a private society, with a capital of only thirty thousand pounds, it may thence be judged what might be accomplished, if thirty thousand pounds per annum were expended on that most important object.

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If such esablishments were set on foot, what multitudes of able men, whose talents are now lost to their country, might be advantageously employed?

It is erroneously supposed that great improvements can only be effected at the expense of millions. The great means of improvement, however, are, 1. To collect, and circulate useful information; and 2. To rouse a spirit of exertion, by public, but moderate, rewards;—both of which may be accomplished even at a moderate expense.

To carry through the important objects above detailed, the following sums would be sufficient.

1. For the improvement of the Fine Arts, including the expense of building a National Gallery, and purchasing Pictures and Statues,*

2. For the improvement of the Sciences, including the erection of Public Libraries, and Buildings for the accommodation of Men of Letters,

3. For the improvement of Agriculture, including the establishment of Experimental Farms, Gardens, and Orchards,

per annum.

£50,000

50,000

30,000

4. For promoting Improvements in our Manufactures, 5. For promoting Commercial Improvements,

$0,000

30,000

6. For the establishment of a Board of Mines,
7. For the Encouragement of the British Fisheries,

30,000

30,000

250,000

Balance, applicable to other public purposes, as building churches, repressing mendicity, &c. &c.

90,000

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The capital of the society for extending the fisheries, and improving the sea-coasts of the kingdom.

If such a gallery were erected it would soon be filled by the donations. and bequests of public-spirited private individuals.

Such are the means by which, without any real public expense, every source of national prosperity might be carried to a height hitherto unexampled in any age or country.

Can an antiquated prejudice in favor of a circulation in coin be put in competition with all the beneficial improvements which may thus be effected? The resumption of payments in cash would only tend to enrich those fortunate individuals, whose profits, from the loans they furnished the public, have already become enormous, and who are likewise much benefited by the reduction which has taken place in the price of the articles they consume. On the other hand, much injury has been sustained by the public, from not having shared in the former profits of the bank by which so much public good might have been accomplished; but as removing the suspension at present, is attended with insurmountable difficulties, it would be infatuation in the extreme, not to share in the profits arising from its continuation, more especially as a share of those profits could be expended with so much real benefit.

Conclusion.

On the whole, I am thoroughly convinced, 1. That if the suspension of cash payments at the bank be continued ;

2. That if the surplus profits from the extra issue of bank notes be equally divided between the bank and the public; and the portion assigned to the public shall be properly expended in promoting beneficial improvements;

3. That if the deficiencies of the revenue were made up by a general tontine; and,

4. If country banking, on which the success of agriculture so materially depends, shall be put upon a footing of efficiency and safety;

That this country will soon reach an unparalleled degree of national prosperity.

Ormly Lodge,

Ham Common, Surrey,

20th Jan. 1818,

POSTSCRIPT.

Since this paper was sent to the press, Mr. Attwood of Birmingham has published a new tract on currency, population, &c. which contains a number of useful hints. In regard to the five

plans he suggests, whether founded on the issuing of what he calls national instruments, or state-notes (not bearing interest), or that of altering, by orders in council, the current value of coins, from time to time, according as the prices of bullion may require; (for instance, making a guinea or a sovereign to pass for twentyfive, or thirty shillings) all such measures, I am convinced, would throw us into a state of fluctuation and uncertainty, and are greatly inferior to the plan which has been already successfully carried ou for above twenty years; namely, an exclusive paper circulation, principally founded on the issues of an opulent corporation like the Bank of England. We have nothing to do but to continue that system, (the public sharing in the profits of the bank,) to be the happiest and most powerful country in the universe. Indeed, when we have a system that has succeeded so well, why should we try any new schemes, the success of which must be problematical? The late Earl of Stanhope certainly entertained very just and enlightened views on the subject of gold and paper circulation. He stated in the house of lords, "That to believe gold necessary to a circulating medium, was an idea only fit for Hottentots. To think a circulating medium of gold necessary, was only showing that we were just at the commencement of civilisation, or rather on the verge of barbarism!" Nothing can be more just.

In regard to his apprehension, that bank notes could not be made a legal tender, on account of the risk of forgery, that difficulty is easily obviated by enacting, that no creditor shall be compelled to take a bank note as a legal tender, that is not indorsed by the party offering it, which shall be declared by law an obligation upon him to guarantee its validity. More effectual means ought likewise to be taken by the bank to improve their notes, so as to render forgeries almost impracticable.

I have long been convinced that our distresses originated from our having got into a state of restricted, from one of abundant, circulation; and the improvement in the circumstances of the country, in regard to revenue,-the price of stocks,-commerce,―manufactures, and agriculture, is to be attributed to an increase of circulation subsequent to the suspension of cash payments being continued, in 1816, for two years. It requires no great foresight to prognosticate, that if the suspension is now removed, we shall get back into a state not very different from that which took place in 1815. The fall in the price of stocks, and other symptoms, point out what may be expected, if that fatal system be adopted."

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2.

Cobbett's Debates, vol. xx. p. 982.

Silver is already getting so scarce that the circulation of the Bank- tokens ought to be continued.

END OF NO. XXIV.

TO VOLUMES XI. AND XII.

The Roman figures indicate the Volume, and the Arabic, the Page.

A

Address to a meeting holden at Bath,
for the establishment of a Church-
Missionary Society in that city;
pronounced by the Rev. J. Tho-
mas, Archdeacon of Bath, xi, 213;
an answer to it, and defence of
the Church-Missionary Society, by
Dan. Wilson, M.A. xi, 471
Anger, influence of, in Penal Legis-
lation; what it is, and how far it
must go xii, 293
Agricultural state of the Nation, xi,

33

Agriculture, rapid Extension of our,
from the year 1797 to 1812; to
what causes it must be ascribed,
xi, 141

American Colonies; effects of their
Rebellion, xi, 63; observations on
our various species of trade with
them, xi, 264
Analogical and syllogistical opera-
tions; definition and comparison
of them, xii, 476
Analogism, a mode of ratiocination
from equal reasons, xii, 478; dis-
cursive, xii, 484; practical, xii,
482; theoretical, xii, 481
Aristocracy, spirit of the Venetian;

of what kind it was in that repub-
lic, and what were its effects, xii,
174; when and how it arose in
England; and what are its present
vestiges, xii, 215

B

Bathurst, Lord; Observations on the
Speech delivered by him, (March,
1817) in the House of Peers, xii,
361

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