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by speculators and money-jobbers, must continue to suffer a deprivation must soon deprive the provinces of all of currency; and, if wheat averages circulation, and tend more and more but 358. this year, it will average but to lower prices. But now it appears 30s. or 25s. next year, if grown at all. that, in addition to all former causes Never did ignorance and cupidity of difficulty, are superadded the drains conspire in the same manner to ruin to foreigu nations in the shape of an industrious and flourishing people! loans, resulting from the glut of money We refer for details of these reasonin London. The provinces, therefore, ings to our Number published Aug. 1.

An Account of the Value of all Imports into, and of all Exports from, the United Kingilom

of Great Britain and Ireland, during each of the Three Years ending Jan. 5, 1822, cu'culated at the Officiul Rutes of Valuation, and stated exclusive of the Trade between Great Brilain and Ireland reciprocally.

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Imperis und Erports of Greut Britain, exclusive of Irelurul.

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1820 1821 1892

£ 29,654,898 €32,923,574 | £9,879,236 £42,802,810 £34,248,495 31,481,108 37,818,035 10,525,025 48,343,061 35,168,669 29,675,320 10,194,892 10,670,880 50,865,773 35,826,082

AR dccount of the Unfunded Debt und Demands Outstanding, on the bth Jun. 1822.

Amount Outstanding.

EXCHEQUER:
Exchequer Bills:-Provided for....

Unprovided for

2,566,550 ..29,000,000

$1,566,550

TREASURY :
Miscellaneous Services
Warrants for Army Services
Treasury Bills of Exchange, drawn from Abroad.
Irish Treasury Bills (Exchequer Bills):

Provided for
Unprovided for..

901,851
167,672
218,331

...

1,105,181

ARMY NAVY ORDNANCE BARRACKS

2,393,039

912,296 1,105,630

267,208

36,244,726

ORDINARY

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Total of Ordinary Revenues .... 58,657,477 50,734,877 The following is the official return of the Revenuc for the quarters ending October 10:

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Decrease on the Quarter

805,598 FRANCE,

the forced restoration; and the vexaThe unhappy persons who engaged tious surveillance to wbich all are in the late premature conspiracies in subjected by the police, the residence France have all been put to death,- of the English is become neither safo save two, who, in the tenderness of mi- nor pleasant. They are therefore nisterial favour, arc (if such power last either leaving or avoiding France,so long) to sufl'er fiftoen and twenty the Netherlands being thirty per cent. years' imprisonment! Death would cheaper, and the government far moro have been more charitable! These liberal, while every purpose of agree. parties could not wait, like their co- able residence is effected at Brussels, patriots, for La Cloche de Notre Ghent, Bruges, and other splendid Dame," which is now the popular toast towns, without the personal inconvein France.

nience and danger which arise from the During the month, Mr. BowRING, effervescence of parties in France. It an English merchant, whose liberal is alien to every fceling of an Englishprinciples are well known, was arrest- man to be obliged to walk about with ed at Calais, his letters and papers a permit in his pocket, to be required taken from him, and his person closely to give notice of every change of resiimprisoned. Most other Englishmen dence to the police, to have his route in France might be arrested for as va- directed when he travels, and the port lid reasons ! Sir Robert Wilson, and time fixed at wbich he is allowed too, who was on an excursion of plea- to embark ! sure in Paris, has becn ordered away It is no satisfaction to such persons at a few hours' notice. In short, bc- to know, that the French are as closely tween the insults to which unknown watched as they are,--that a countryEnglish are exposed from the French man must have a permit to go and return people, as supposed participators in from markct; that a gentleman in

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GRAY'S CHURCH-YARD AT STOKE, NEAR WINDSOR. MR. GRAY wrote his beautiful “ Elegy on a Country Church-yard,” and others of his classical poems, while he resided at Stoke, and he was buried on the spot which his genius has immortalized. Elderly people lately living in that village remembered his retired and secluded character, and they shewed a trte, in which he was accustomed to indulge in reading and meditation. The church and church-yard possess more interest than commonly belongs to snch places, from the above associations, and their retired and picturesque situation. Nearly adjoining is the park of Mr. Penn, from which the above view of Stoke Church has been taken; and on the same site that distinguished scholar and amateur has erected a splendid monument in honour of the poet, with the following inscription :-" This Monument, in honour of Thomas Gray, was erected A.D. 1799, among the scenery celebrated by that great lyric and elegiac poel. He died in 1771, and lies unnoticed in the adjoining church-yard, under the toenb-stone on which be piously and pathetical recorded the interment of his aunt and

lamented mother."

SIR,

To the Editor of the Monthly Magazine. from the circumstance of taxes and

rents being collected in one place, and N the Monthly Magazine, published spent and accumulated in another.

I shewed that the taxes collected effect of excessive taxation and high from house to house throughout the rents from the non-residence of tax- parishes of these kingdoms,

and in the receivers and land-proprietors, and local consumption of taxable commodemonstrated to all, who

condescended dities, are paid by the collectors to the to read, that the present domestic receivers-general of the counties, and wiseries of the country arise solely remitted by them in mass, without any MONTHLY Mag. No. 375.

consideration

3 D

consideration of rate of exchange, to lages converted into towns of elegant the treasury in London, and we all mansions, in the ready discount of know that this is done half-yearly, to bills, in the reduced rate of interest, in an amount of forty millions per annum. the progressive rise in the funds, I then appealed to facts in regard to (every one per cent. in which absorbs the distribution of the half-yearly iwo or three millions of capital,) and, twenty millions, and proved that fif- finally, in foreign loans, at which the teen of them are paid over to public Jews, and other monied interests, annuitants resident in or near London, grasp as means of employing the or abroad; while only a small portion money drawn from the labour and is slowly returned by round-about misery of the people of England. channels into the country for agricul. While all these circumstances, arising tural produce; the remainder being ex- from taxation, are aggravated by mopended in foreign luxuries, in exalting dern manners, which lead the greater the price of the funds, in foreign loans, proportion of landlords to spend their and in all the means by which cupidity rentals in town-houses, at watering employs capital. And I inferred, as a places, and in foreign countries. consequence of these premises, that, Such being the evils, I now proceed though capital super-abounds in Lon- to discuss the remedies. The disease don, the country is nevertheless drain- is desperate, and the remedies cannot ed of all circulating medium. That to consist of palliatives. They are of a raise it to meet the prevalent pay- radical kind, which threaten the disse ments of rents and taxes, farming- lution of the body-politic, and the restocks and estates are obliged to be medies must be equally radical. Shifts, sold one after the other at any price temporary expedients, and words, will which they will produce, and, con- be of no avail. sequently, that universal pauperism Sacrifices must be made by all. threatens the yeomanry, proprietors, We must give up half to save the and agricultural interests, as well as remainder, just as we consent to suffer all the handicrafts and branches of the amputation of a mortified limb.. trade dependent upon them.

The fund-holder may at present hug I then solved the enigma of dimi- himself in his fancied excinption from nished and constantly diminishing the general misery, but this exemption prices, by shewing, that price depends can only be temporary With the on the local circulation at the place of means of the country, the means of sale; that, if the circulating medium paying his interest must cease, and left in any district is constantly drawn he will then become the most abject off, the actual prices in the market and helpless of paupers. of that district must be proportionally One of two things is necessary > reduced, with little practical reference either less must be drawn from the to prices in other markets; and that the country by diminishing the interest prices in Smithfield are governed by of the public debt; or by cpacting those in the five hundred other markets regulations, by which the soms colscattered over the empire, because lected may be re-expended at the high prices in any one market would place of collection. produce such an excess of supply as Public faith or personal liberty must would reduce its prices to the level of be violated. There is no alternative. 'all others. I shewed, too, how prices In the choice of evils, which is the were kept up during the war by the least? expenditure of loans in the purchases It must, at the same time, not be of contractors, by whom the demand concealed, that the abatement of inwas constantly kept equal' to the terest which would relieve the country supply.

must be considerable, if non-residence In support of these important doe- among the payers is tolerated; for the trines, I appealed to the known state principle itself of non-resident reof the country and that of London, ceivers, in whatever degree it exists, shewing, that, in the former, the me- is injurious. Sueh a class as a body lancholy circumstances were such as of state-annuitants is a social phenothe causes were calculated to pro- menon which never before existed in duce; and that, in London, every any country; and, if to this monstrosity feature of excessive capital was ori. be superadiled the fact, that they herd dunt in splendid improvements, in vil in one town, and its vicinity, it will be

obvious

of the year.

obvious that they cannot continue to annuities by renewing a paper cirexist ander such circumstances, and culation, would be to plunge into a society prosper.

vicious circle, and into an abyss from In every view of the subject, it which there could hereafter be no, appears to me, that to enforce local retreat. residence of the receivers among the What,-exclaim the thousands of payers is the only effectual remedy; public annuitants,-compel us to rewhile, at the same time, it would pro- ceive alf, or reside in some barbarous bably be more palatable than any district, remotc from the society and adequate reduction of income: but gaiety of London! Fair expostulaboth plans may be combined. For tion! yet what is the alternative? It is the sake of conferring clearness on not a preference of benefits that can the details, I will reduce my views to be offered, but a CHOICE OF EVILS: the distinct propositions.

parties are in a dilemma either to con1. Let the amoants of taxes col- form or Jose all, from which dilemma lected and paid in every hundred and there is no ultimate retreat. wapentake of the kingdom be deter- The deleterious effects of the nonmined.

residence of the receivers is palpable. 2. Let the proportion of that amount The circulation or blood of social into the amount of the interest of the dustry is periodically withdrawn from debt be determined.

the provinces, while rents, taxes, and 3. Let the head-borough, or other other imposts, remain in full amount, appointed officer, be nominated re. and the deficiency of local circulation ceiver of so much of the taxes as has in successive years reduced grain equals the share of interest of the debt from 120s. to 100s. 80s. 60s. 50s. 40s. for his district.

and 30s. Every shilling below 70s. 4. Let him be authorised to pay has beeu a diminution of the capital of their full dividends to as many persons the farmer, and every shilling below as can prove their residence in that 50s. has operated as a reduction of the district through at least nine months rentbf the landlord. These numerous

and once respectable classes are there5. Let him pay over half the balance fore silently and gradually ruined, to the county receiver or treasury, and utterly be gared and pauperised! remit so much of the taxes on his dis- From such a population the interest trict in the following year.

of the debt cannot continue to be 6. Let the non-residents receive the raised; and to pay it till now the half of their dividends at the Bank of boasted Sinking Fund has been abEngland, in the present form. sorbed, and every shift of financial

7. Let proprietors, as well of land ingenuity has been resorted to by Mr. as houses, be obliged also to attest to Vansittart. He has adroitly kept it the same officer their residence in liko going; but, no doubt, has trusted to banner; and, if non-resident, be sub- the chapter of accidents, or to the ject to a tax of twenty five per cent. elasticity of society, for an escape. on their rentals, the amounts to ope- The chances, however, have been unirate as an abatement of other taxes on formly against him. He might have

hoped something from colonies; but This is my remedy for the relief of these, owing to a combination of cirthe country under iis present amount cumstances, are not in a better state of tases. Subject to such regulations, than the mother country. He might the amount might even be increased; have calculated on foreign trade; but for, if the money received from industry the eyes of rival nations have been were expended on the spot, industry opened to the secret of our strength, would constantly be re-vivified, and and ukases, decrees, and custom-house tren the annuitants and landlords regulations, have limited our valuable ihemselves might be eminently useful exports ; while it is notorious that the In promoting civilization and local United States successfully compete improvements, by means of their su- with us in every market, Commerce, perfluous capital. The remedy may too, is of a fleeting character; as we savour of severity ; but the disease have witnessed in the Hans towns, in must be cured, and there is really no Genoa, Venice, ond Holland. In

short, the chances increase every year To seek to diminish the value of against the acknowledged talents of

Mr.

the district.

other alternative.

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