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To expences on Middlesex meeting on commitment of Sir F. Burdett . . . . June. To Subscriptions on account of the liberation of Sir F. Burdett.

By expences

Total expences

Total subscriptions

Balance due to the trea

surer

46 4 6

93 17 0

2,682 14 8
2,496 0 10

Committee of Privy Council for coin, in order to prevent their being withdrawn from circulation, that an additional value, nearly pro-. 47 12 6 portionate to that at which they were first issued in relation to their intrinsic value, be now assigned to them; The Governor and Company of the Bank of England do therefore, hereby giue notice, that they have 186 13 10 given orders to their cashiers and other officers, from henceforth (until a public notice to the contrary, of not less than six months, shall have been given) to receive all Bank dóllar tokens tendered in payment at the Bank, at the rate of five shillings and sixpence each, instead of five And to pay shillings as heretofore. and to issue all such Bank dollar tokens as shall be paid or issued hereafter by them, at the same rate of five shillings and sixpence each.

The subscribers are respectfully informed, that books, containing the particulars of the above accounts, and the vouchers, are at Mr. Brooks's; No. 110, Strand, for their inspection; where subscriptions continue to be received.

CIRCULAR TO THE SUBSCRIBERS.

SIR," We have thought it our duty to send you the above accounts. The city of Westminster, by returning a representative to parliament without personal expence, has demonstrated the power of the people when acting for themselves. The example of the first city of the empire, if followed, will assuredly drive out the borough faction, and accomplish a substantial reform. The various meetings held for the attainment of this desirable object have done much towards convincing the people of the necessity of obtaining it, as the only means of preserving their liberties. This has been effected with a small sum voluntarily subscribed by the friends of reform, with the exception of a trifling balance due to the treasurer.-We have the honour to be, Sir, your obedient Servants,

"WILLIAM ADAMS.
"FRANCIS PLACE."

March 30th, 1811.

BANK DOLLAR TOKENS.

Bank of England, March 18, 1811. Whereas the price of silver has risen so much since the first issue of Bank dollar tokens at five shillings each, as now to make them worth more to be sold as bullion, than the price at which they are current: And whereas it has been deemed expedient, at the recommendation of the Right Honourable the Lords

BANK DOLLARS.

In the Report of the Bullion Committee is the following passage:"Your committee beg leave to advert to the temptation to resort to a depreciation even of the value of the gold coin, by an alteration in the standard. This has been the resource of many governments, and is the obvious and most easy remedy to the evil in question. But it is unnecessary to dwell on the breach of public faith, and the dereliction of a primary duty of government, which would manifestly be implied in preferring the reduction of the coin down to the standard of the paper, to the restoration of the paper to the legal standard of the coin."

In this sentiment all the writers on the subject have agreed; nor will it probably be controverted by any honest and intelligent man. It might have been farther observed, that such a remedy could only have a temporary effect. We may call a piece of gold or silver what we please, or declare it shall pass a

mong ourselves for any nominal sum; but it will never pass abroad for more than its intrinsic worth, and at home the price of every article will quickly be enhanced in proportion.

When the Bank first issued dollars at the rate of 5s. little attention was paid to the principle. The convenience of increasing a good silver currency was felt, and the declared obligation on the Bank to take them back, at the nominal value was relied on. The Bank has issued five or six millions sterling in dollars at that rate since 1797, a small part of which will ever go back, the far greater part having been melted or exported. The profit derived to the Bank by this operation, at the expence of the public, is matter of easy calculation.

But now that the Bank has thought proper to increase the nominal value ten per cent. and it has become evident that it may go on to any amount, people begin to open their eyes. Having the countenance of government, what hinders the Bank to operate on gold coin in the same way they have done on the silver, or to issue pieces of gold, intrinsically worth 15s. to pass for guineas?

It is vain to say the dollars are not current coin, while no person can refuse them, or obtain the change of a 20s. note without taking them. That they have not been made a legal tender, is just such a quibble as maintaining that Bank of England notes are not effectually such a tender. As Mr. Giddy observes, the public creditors must take them, or go unpaid.

The excuse for the augmentation of the nominal value of the dollars is, that silver has risen in price. In comparison with what has it risen? Silver, in comparison with silver of the same standard, cannot rise. It will not be pretended that gold has risen, as in comparison with silver,

beyond the usual difference. But, in comparison with Bauk paper, silver has undoubtedly risen, or, in more accurate terms, the paper has depreciated. The fact was sufficiently demonstrated before, the comparison being made with gold, which is the true and only standard. But if that were wanted, the fact seems to be put beyond all doubt by this operation of the Bank itself, and the present rate of depreciation fixed at very nearly 20 per cent. How soon `it may be at 50 per cent no man can tell, while the Bank is permitted to follow the course it has done for some years past, and which it seems resolved to persist in, while any gold or silver remains in the country!

LIGHT GOLD AGAINST HEAVY GOLD.

[From the Morning Chronicle.] SIR;-I am sure if that worthy

man,

George Fisher, accountant, the well-known author of the Young Man's best Companion, was alive, he would in his questions for exercise have introduced the following"If a light guinea be worth in paper currency 11. 4s. Sd. what is a heavy guinea worth in the same currency?

-Answer, 11. 4s. 6." When the little boy, after a great deal of puzzling, had made out the answer, I think I see the venerable George Fisher mildly chucking his pupil under the chin, and thus addressing this decimal fraction of a tradesman's large family. My dearBobby, this sum is only to be worked on a slate from whence it can be readily spunged off, but you must not enter it into your sum-book, because, my dear Bobby, though right by the rule of three, it is wrong by the rule of faet; a heavy guinea is worth but 11, 1s. in the paper currency.—But one pound one! exclaims Bobby ; why I multiplied the third by the second, and divided by the first, and the answer came out 11. 4s. 6d.

Ah! but my dear Bobby, replics George Fisher, the bankers have so multiplied the paper, and so divided their bonuses, that in this instance the common rules of arithmetic are entirely violated; yea the very intrinsic value of things is changed; for lo! a light guinea is more valuable, with reference to banknotes, than a heavy guinea, for the light you can get 11. 4s. 3d. and for a heavy guinea but 11. 1s.-This is very strange, says Bobby-I'll tell my father of it-your father knows it already-but why don't people sell their heavy guineas, and get 11. 4s. 6d. for them, rejoins Bobby? -they are prevented by an act of parliament but is it not very absurd that an act of parlia- -ment he would have said, had not George Fisher ordered him to go to his seat, and leave the mysteries of the mint to the clerk of the meltings.

But of guineas let us not speak it is a tale of other times-with the Bank of England, we may well exclaim, de mortuis nil nisi bonum, that is, of the defunct there is no vestige but the bonus, the amount of that indeed, and the immense rise in the value of bank stock, are the legacies which guineas bequeathed to the governor and company of the Bank of England, when they expired in the year 1797. Within the space of thirteen years from that period, the marketable value of 1001. bank stock, has risen from something less than 1281. to very near 2801. the dividend has been increased from 7 to 10 per cent. and bonusses to the amount of 32 per cent. have been distributed among the proprietors, -I see you have published my humble suggestions upon the want of change and here, that they may have a chance of being read by all parties, let me clearly explain, that under the expression want of change', there is not the slightest allusion to the removal of the Hon. Spencer Perceval from his situation

of the clerk of the meltings, or of any other, the slightest alteration in the ministry-by change, I strictly wish to be understood to mean crowns, half-crowns, shillings, and six pences, which have now nearly, and in the course of a few weeks, will altogether disappear. The remedy I have proposed is not like the sinking fund, founded upon theory, but has been actually carried into execution in the sister kingdom, and I am certain, that the directors of the Bank of Ireland, who have been indefatigable in their endeavours to buy up all the bad shillings and recoin them, pro bono publico, into two-penny pieces, will readily communicate with their brethren of the Bank of England on this interesting subject, send them samples of their farrago, lend them their die, and as, Mr. Davy may not have any test to ascertain it, reveal the extreme degrce of baseness to which they have been obliged to descend in their endeavours to accommodate the Irish public.-At all events, let me deprecate any thing like the issuing of notes under one pound; the sufferings of the people in Ireland, particularly the poorer classes, in consequence of such an arrangement, were dreadful. Every petty shopkeeper became a banker, issued paper, bought bad goods, and put what price he pleased upon them, certain that his neighbour must buy them, because his paper had no currency except from his counter to his till. Oh, no! any thing except five shilling and two-and-sixpenny notes rather than that, let the brass pots and kettles, as in the time of James II. be called in, melted, and coined-but no more paper for the sake of common humanity!— I am now called away to see a very fine ram, upon which, I am informed, Sir John Sinclair is to ride round the hall of the Bank of England, preparatory to his being crowned with a wreath of cancelled bank:

notes; he is then to proceed to the Rotunda, to partake of a dejeuné a la fourchette, consisting chiefly of prize meats; a great deal of good singing is expected-Mr. R. Jackson is to favour the company with 'money in both pockets;' two mermaids have kindly came forward to offer their gratuitous assistance they are to sit in bathing tubs, at each side of the president, and have promised to execute some appropriate airs, Cease rude Boreas,' and' Water parted from the Sea,' Sir John being re-seated on his ram the whole to conclude with a grand chorus in praise of Pitt and pound notes, in which all the stock-jobbers, contractors, clerks, directors, and the entire corps papieritique are to join. Medals of the great man now no more, struck on pasteboard, are to be distributed amongst the performers, who are to fire a feu de joie in honour of his memory, providing the ram be found sufficiently steady to bear the explosion, otherwise it is to be omitted.-I shall resume the subject of the scarcity of silver t a future period, which, with some other particulars, I shall be happy to communicate to you; meantime, I remain,

Your obedient Servant,

TIMOTHY TINKER.

AUSTRIAN FINANCES.

The Emperor of Austria has issued a long edict, for the purpose of regulating the current value of the Vienna bank-paper, which is well known to have suffered a great depreciation. This edict, which is dated the 20th of February, 1811, sets out with enumerating the measures which were taken for supporting the finances of Austria in September last, by imposing a tax of 10 per cent. on moveable and on real property.Notwithstanding this, however, the value of the paper-money continued to fall, and sunk so low as 1,200 in

exchange for specie. It then goes on to mention the inconveniencies which arose to industry and proper ty from this state of things, proceeding from the "excess of a worthless paper-money."-In order to remove this evil, the edict circumscribes the mass of paper-money, and fixes it at 1,060,798,753 florins, which is the whole sum to remain in circulation, and to be afterwards funded. But the mass so diminshed is not to be realised, or to pass at its nominal value; and on this head the edict contains the following regulations:-1. The Vienna bankpaper shall not remain in circulation after the last day of January, 1812.

-2. Till then it shall pass current in payments at the fifth part of its nominal value.-3. From the 15th of March, 1811, the bank-paper in all redemption bonds and payments shall be fixed at one-fifth of its nominal value; that is to say, Bank-money of 5 florins, at

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and at this rate it shall be taken by the public treasury, and by private individuals, till the end of January, 1812. 4. From the 1st of February, 1812, the Vienna bank-paper shall be taken out of circulation, and payments in it shall cease with the 31st of January, 1812.-5. Redemptionbonds can no longer be circulated but in exchange for bank-paper at one-fifth of its nominal value. By this means the amount of redmptionbonds can in no case rise higher than 212,159,750 florins.-The edict then goes on to state, that the Emperor will adopt means for placing these redemption-bonds under the guarantee of the hereditary states, for funding and gradually annihilating the paper-money, and establishing a sinking-fund; and that he will publish new regulations to that effect as soon as he has come to a settlement

with, the Diets of Hungary and Transylvania in relation to the present matter. In the mean time he declares to his faithful subjects, that the money arising from THE SALE OF THE PROPERTY OF THE CHURCH CONTINUES TO BE APPRO

PRIATED TO THE EXTINCTION OF THE PAPER-MONEY!-Then follow a variety of minor regulations with respect to the payment of debts due to individuals and to the state, according to the value affixed to the bank-p -paper by the edict.

EXTRACT FROM THE ADDRESS

OF THE DEPUTATION FROM THE CITY OF HAMBURGH &c. TO THE FRENCH EMPEROR,

WITH HIS ANSWER.

Sire, at all times we have been Frenchmen in our hearts, and from preference. If the anarchy which preceded your Majesty's reign, relaxed, for a moment, ties of such long standing aud so agreeable, we hastened to draw them closer the instant your accession to power reassured the world social order: and your new subjects, Sire, cannot swear to be more faithful to you than they have shewn themselves to be for these ten years past; more devoted to your pleasure, more obedient to your system, and more disposed to contribute to the accomplishment of your designs, by every effort and sacrifice in their power; and it is a pleasing consolation to the honourable remembrances of our country, to reflect, that our independence could yield only to him to whom every thing has yielded, and that our political existence was to cease only at that epoch when the destinies had determined that the Tiber and the Elbe should flow under the

same laws.

If your Majesty, from that devoted point whence you take a view of human affairs, permit our feebleness to

indulge in any degree of pride, we still venture to think that we enter not as a vulgar territory, as an obscure acquisition, into that immense circle of provinces, struck with admiration, and happy in obeying a single master.

REPLY OF HIS MAJESTY.

Gentlemen, Deputies of the Hanse Towns of Hamburgh, Bremen, and Lubeck.-You formed part of the Germanic Empire; your constitution terminated with its existence. Since that time your situation was uncertain. I intended to reconsitute your cities under an independent administration, when the changes produced in the world by the new laws of the British conncil rendered the object impracticable. It was impossible for me to give you an independent administration, since you could no longer have an independent flag.

The decrees of Berlin and Milan are the fundamental laws of my empire. They cease only to have effect as to these nations which defend their sovereignty, and maintain the religion of their flag. England is in a state of blockade as to those nations which submit to the orders of 1806, because the flags thus submitting to the English laws are denationalized; they are English. Those nations, on the contrary, which feel their own dignity, and find in their courage and power sufficient resources to disregard the blockade by notification, commonly called a paper blockade, and to approach all the ports of my empire, except those under a real blockade, according to the known usage and the stipulations of the treaty of Utrecht; may hold communications with England. As to them, England is not blockaded. The decrees of Berlin and Milan, flowing from the nature of things, shall continue to form the public code of my empire, as long as England maintains her orders in coun cil of 1806 and 1807, and violates

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