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bave induced some of them, at cer- farmers and other inhabitants of the tain times, to keep in hand a larger country. quantity of grain than they would “ It is no small additional recomotberwise have found it convenient mendation of the use of our paper, to bold. We know, however, that that the public draws a large yearly the general stock of grain in the au- revenue from the tax imposed on tumn of 1800 was particularly low. bills and notes. If paper credit did Since, therefore, but a small part of not exist, a sum equal to that which the capital of the farmers, whether is thus raised must be supplied by borrowed or their own, was then vest. taxes either burthening the industry, ed in grain, the principal share would or paid out of the property of the probably be laid out on their land, people. The public has, since the and would increase its produce ; for late additional tax, become a very unquestionably the value of a crop considerable sharer in the profits of obtained from a farm depends chiefly the country bankers' business. on the sum employed in its culti- “ Since, therefore, a paper medium vation and improvement. Country has served the purposes which have bank notes have thus added to the been described, and has been, genegeneral supply of grain, and by do- rally speaking, quite as convenient ing so, have contributed to prevent a an instrument in settling accounts as rise in its price; they have probably, the gold which it has displaced, the in this manner, afforded much more presumption in favour of its utility than a compensation for anytemporary seems to be very great; and, if it advance in price to which they may could be added, that no other effects have given occasion, by enabling far than those which have as yet been mers to keep a larger quantity in stated have arisen, or are likely to hand. The very possession of a large arise from it, the advantage of it quantity in hand is to be considered would be beyond dispute. "To re25
, in general, a benefit rather than a proach it with being merely a fictidisadvantage ; for it is our chief se- tious thing, because it possesses not curity against scarcity, and conse- the intrinsic value of gold, is to quarquently also against dearness. To rel with it on account of that quality the want of a larger surplus stock at which is the very ground of its merit. the end of the years 1799 and 1800 is Its merit consists in the circumstance to be ascribed, in a great degree, the of its costing almost nothing: By subsequent high price of provisious. means of a very cheap article the The tendency, therefore, of country country has been, for some years, bank paper to increase generally the transacting its money concerns, in stock of grain in the hands of the which a very expensive material had farmer is to be ranked among the previously been employed. If this advantages of country banks. The were the whole question, the substitendency to increase it at the parti. tution of paper for gold would be as cular time of actual scarcity, is to be much to be approved as the introducclassed among the evils which they tion of any other efficacious and very produce; and it is an inconsiderable cheap instrument in the place of a evil, which is inseparable from a great dear one. It would stand on the and extensive good. To those who same footing with the substitution, are disposed to magnify this occa- for example, of cast iron for wrought sional evil, it may be further observed, iron or steel; of water carriage for that the farmer is enabled to enlarge land carriage; of a steam engine for his stock by the increase of his own the labour of men and horses; and as well as of the general wealth, much might claim a high rank among that more, no doubt, than by the share multitude of ingenious and econo. which he obtains of that particular mical contrivances to be found among part of the new capital of the king- us, by the aid of which we have at. dom which is created through the tained to the present unrivalled state substitution of bank notes for gold; of our manufactures and commerce.” only a portion, therefore, of the mis- p. 167–171. chief complained of is to be referred The author proceeds“ to urge some to country bank notes; it is princi- very solid objections against the syspally to be ascribed to the growing tem of banking in the country.” As it ticles and prosperity both of the is argued at great length, we can only VOL.I.
give the proposition which contains limit the Quantity, and sustain the Value the first objection; which is, “ The of all the paper of the Kingdom. tendency of country banks to pro- This chapter introduces “ a third duce, occasionally, that general fails objection to country banks, which is, ure of paper credit, and with it that the influence which their notes are derangement and suspension of com- supposed to have in raising the price merce, as well as intermission of ma- of articles. nufacturing labour." p. 172.
" By the principles which shall be “ Another evil attending the pre- laid down in this chapter, I propose sent banking system in the country to prove, that, though a general in. is the following:
crease of paper has this tendency, the “ The multiplication of country objection, when applied to the paper banks issuing small notes to the bearer of country banks, is particularly illon demand, by occasioning a great founded."' . 192. and permanent diininution in our Chap. IX. Of the circumstances circulating coin, serves to increase which cause the paper of the Bank of the danger, Jest the standard by Englanil, as well as all the other Paper which the value of our paper is in- of the Country, to fail of having their tended to be at all times regulated Value regulated according 10 any exact should occasionally not be maintain- Proportion to the Quantity of Bank of ed.” p. 187, 188.
England Notes. The arguments in support of the Chap. X. Objections to the Doctrine objection are thus closed : “ We are of the ito preceding Chapters answered. apt to think that it is the interchange –Of the Circumstances which render it of the usual gold coin for paper at necessary that the Bank should impose home, which alone maintains the va- its orun Limit on the Quantity of its lue of our paper; and we are partly, Paper. - Effect of the Law against on this account, much more anxious Usury.--Proof of the Necessity of reto detain our gold at home, than we stricting the Bank Loans, drawn from are to discharge, by means of it, an the Care of the Transfer of Capital 10 unfavourable balance of trade, and Foreign countries. thereby to improve our trade with Chap. XI. Of the Influence of Paforeign countries. I apprehend, how- per Credit on the Price of Commu:lities, ever, that an unfavourable course of Observations on some Passages of exchange, which the export of our Montesquieu and Hume.--Conclusion. gold would cure, will, in many cases, tend much more to depreciate our paper, than the want of the usual interchange of gold for paper at home. Our coin itself, as has been already LXXVIII. TRAVELS IN ITALY, 6; remarked, when paper is depreciated, the late Abbé Barthelmy, Author of the passes not for what the gold in it is
Travels of Anacharsis the younger; worth, but at the paper price; though
in a Series of Letters written 10 the this is not generally observed io be
celebrated Count Caylus. With all the case. li is the maintenance of Appendix containing several Pinas our general exchanges, or, in other never before published. By the Abbé words, it is the agreement of the mint Winkelman, Father Jaquier, the Abbi price with the bullion price of gold,
Zarillo, and other learned Men. which seems to be the true proof that
Translated from the French. the circulating paper is not depreciated.” p. 190, 1991.
N the fifth letter the Abbé gives Chap. VIII. Of the Tendency of a the following description of Rome: too great Issue of Bank Paper io pro- “ I wrote you an account of the imduce an Excess of the Market Price pression made on me by the gallery at above the Mint Price of Gold. Of the Florence; but I was then like the Means by which it creates this Excess, mouse in la Fontaine, to whom the namely, by its Operation on the Price of sınallest hillocks appeared as mounGoods and on the Course of Exchange.-- tains. Rome has altered all my no, Errors of Dr. A. Smith on the Subject of tions, it has overwhelmed me, and I excessive Paper. Of the Manner in can give you no account of it. which the Limitation of the Quantity of "I passed two hours in the Capitol, the Bank of England Paper serves to anal have seca uothing. The enure
mous collection of statues, busts, in- In the Appendix is an account of
“Blouses, according to Seneca, were What must they have thought of the lined with squares of glass, called quainterest which I took in all those draturve vitriæ, (epis. 86.). But who bronzes of seven or eight inches high, can now endure such homely furniand of those two or three mutilaied ture? Unless his walls shine with heads, the greatness and scarceness of large and high priced globes, and the wbich I wanted them to admire ? roofs of his apartinents are covered Why was I not then aware of all with glass, he thinks himself poor and this:
miserable." p. 234. "Figure to yourself vast apartments,
It is also added, " The following I will not say ornamented, but filled, passage in Herodotus leads us to supfilled even to a thronging, with sta- pose that the Ethiopians placed their tues and all sorts of remains; cabi- dead in glass coffins. “Let us next net almost as large as the cabinet of consider their sepulchres, which are niedals
, full of busts of philosophers; said to be constructed of glass. When another of busts of emperors; gallery
dead, they dry the body, cover it after gallery, corridors, stair-cases, in completely with plaster, and exhibit which nothing is to be seen but grand it ornamented with pictures resenstatues, grand inscriptions, grand bas. , bling the deceased. They then dig a reliefs
, consular calendars, an ancient grave, and cover it with glass, through plan of Rome in Mosaic colossal, which the body is visible, neither Egyptian statues in basalthus or in emitting a disagreeable smıll, nor black marble. But why mention par: shewing any signs of corruption, &c. ticulars : We find here ancient Egypt,
“ Thucydides, speaking of the man. ancient Athens, ancient Rome." p. 28,
ner in which the Ethiopians dispose 29.
of their dead, says in the third book In the thirty second is the follow- of his history, some throw them into ing description of a tomb at Rome : the river; nthers preserve them in their "Over one of the side doors of St. houses, alter having inclosed them as Peter's Church are the statue and it were in a cothin of glass. tomb of Alexander VII. The door is “I shall cite another passage of the small, and opens, with a curtain be- same author, taken from the sacred fore it, to a little corridor, which is book. The Ethiopians conduct the rather dark. There Bernini has sta- funerals of their dead in a very singutioned Death in the act of lifting up
lar manner. The body is first salied the curtain. This bideous figure, sus. to keep it from putrefaction, and then pended at the top of the tenebrouis placed in a grave covered with glass, cave, the destructive scythe, the cur
that it may be seen through as we read lain, which by its speedy fall is for
in Herodotus. But Ctesias Cnidius ever to conceal from human sight the denies this, telling us that the bodies pope's remains, the attitude of the indeed are salted, but never inclosed grim monster, full of impatient mo- in glass; for the likeness of the dead tion, as he ought always to be depict. could not in that way be retained, as ed, with a thousand other accessary the body would first become shrive!ideas, but natural, simple, and grand, led and parched, and then totally deall this inspires terror; it fixes our cay. A hollow statue of gold is thereideas on the tomb open before us, and fore cast to contain the body, and this on that alone, and therefore it is that being placed in some conspicuous siit produces so forcible an effect.” tuation and covered with glass, it may A. 168.
be said that a similitude is exhibited through glass. It is in this manner and about twelve inches wide. the funerals of the rich are solemniz- Throughout the length of this paper ed, while persons of smaller fortunes are several columns of writing, disare deposited in statues of silver, and tinct from each other, and proceeding the poor in baked clay. Glass is from right to left. When finished, it common to all, Ethiopia producing it is so rolled up, that in opening the in such abundance that it is found manuscript you perceive the first coevery where by the inhabitants. lumn or page of the work, and so on
“ These passages are attended with as you unrol it, the last being in the some difficulty. From one we are led inner part of the roll. to believe that the glass with which “ The manuscripts of Herculaneum they covered the dead was common were found in an apartment of a paglass, and had been cast, while ano- lace that has not yet been thoroughly ther, affirming that this glass was cleared. They are of Egyptian paper, found in abundance in Ethiopia, gives and of the colour of charcoal. It was us reason to suppose nothing inore is a long time before any inode could meant than transparent stone. Bo- be devised of unrolling them, and in chard, in his Hierozoicon (part post, l. vi. this dilemma some of them were cut cap. 16.) will not admit that it was with a knife longitudinally, as we dithis stone, which, according to him, vide a cylinder in the direction of its was not sufficiently abundant to sup- axis. This mode of proceeding dis. ply the tombs of all the dead. Arrian closed the writing to view, but com(l. vi. c. 4.) expressly says, that it is pletely destroyed the work. The difonly to be found in a corner of Ethi. ferent strata of the paper adhered so opia. Bochard, after adducing seve- closely together, that in attempting ral reasons, tells us, that by the fossile
to separate them they were reduced glass mentioned by the ancients we to ashes, and all that could be obought to understand a sort of crystal, tained was a single column or page of which is very common in Ethiopia. I a manuscript that consisted, perhaps, am inclined to think, however, that of a hundred. these kind of collins were of ordinary “Under these circumstances a paglass, and that Herodotus and Ctesias tient and persevering mouk suggested have injudiciously confounded it with the mode of completely unrolling the the transparent stone.
paper. He made some attempts, “Pliny, speaking of precious stones, which occupied a considerable por(l. xxxvii. sect. 26.) says, they are tion of time, but in which by degrees : well imitated in glass, but like other he was successful. He goes on with • counterfeit geins are sure of detec- his tedious labour, and in the same • tion.'
manner gradually and slowly, suc “ Trebellius Pollion (in Gallien.) re- ceeds. Ois plan is this. Having found lates, that a lapidary having sold the the beginning of the manuscript, he empress some glass stones for real fastens to the exterior edge some jewels, she detected the fraud, and threads of silk, wbich he winds round as she wished to be revenged, the em- soinany pegs inserted in a sniall frame. peror Gallienus ordered the lapidary These pegs he turns with the utmost to be exposed to a lion, but contrived precaution, and the manuscript is imsecretly, that instead of a lion a ca. perceptibly unrolled. Little' is to be pon should be put into the cage. The expected from the first few layers of spectators being surprised at so sin
the paper, which in general are eigular a circumstance, the emperor de- ther torn or decayed. Before any sired they might be told that it was pages of a work can be obtained, the one imposture punished by another." manuscript must be unrolled to a cerp. 234-238.
tain depth, that is, till the part appears On the subject of the antiquities of that has suffered no other injury than Herculaneum is the following account: that of being calcined. When a few “ The different descriptions of things columns have been thus unrolled, they that have been dug out of the ruins of are cut off, and pasted on linen. For Herculaneum would furnish matter unfolding one of these manuscripts for numerous heads: but I stop at the several months are requisite, and hi. manuscripts, conceiving them of the therto nothing has been obtained but greatest importance. To form of the last thirty eight columns of a them an accurate idea, conceive a Greek work against music, by one strip of paper of an indefinite length, Philodemus, who is mentioned by
Strabo and other ancient writers. * emperors, that of Cecilia Metella for His name and the subject of his work instance, two miles from Rome, that were fortunately at the end of the of the Plautian family near Tivoli, and manuscripts. In the course of these that of Plancus at Cajeta, seem to parthirty-eight columns a few deficien- take of this form. They are large cies occur ; but the writing in general round towers, placed on square baseis very legible and fine.” M. 245—247. ments. These towers were sometimes
From a dissertation on the antiqui. surrounded by a range of columns, a ties of Rome we extract the following circunstance which leads me to susdescription of their mausoleums. pect that the celebrated temple of
" Augustus exhorted the senators to the Sybil, seen at Tivoli, with the folcontribute to the embellishment of lowing inscription L. Gellio. L. F., Rome, while his successors hardly was the tomb of the Gellia family. Jest them the liberty of adorning their " These marisoleums are remarksepulchres. I shall dwell a little on able for a style of simplicity, which these edifices, the more fully to dis- was soon relinquished for that increasplay the taste and spirit of the Ro. ing magnificence and luxury, which we mans in their monuments. I saw at have traced in the history of ancient Pallazzolo, on the lake Albanus, a monuments. In Strabo's time, that of picture, of which I have no where Augustus was considered as one of found an explanation. On the front the finest edifices in Rome; that of of a rock, close to the lake, are en. Adrian, the massy part of which forms * graved twelve fasces, a curule chair, a the Castle of St. Angelo, was decosceptre crowned by an eagle, and at rated with two rows of pillars, and to the foot of the rock an inscription that of Severus seven rows had been which is not legible; while on the up- assigned. In fine Heliogabalus caused per part several pieces of marble are a tower to be erected, which was to erected in the form of pyramids, in be decorated with gold and precious the same manner as the toinb of Mau- stones, whence, in case of surprise, he solus is represented to us. Adjoining might throw himself headlong, and the steps, a narrow passage leads to å this, as he said, that he might die in room eleven feet two inches long, by the bosom of luxury. nine feet six inches wide : the whole “ The tombs were placed along the is
graven, cut, and dug in the rock. highways which led to Rome. Modern It were superfluous to observe, that refinement would be shocked at such this momunient belongs to the days of a custom. The Romans wished by the republic. This is evident irom this to be always in the presence of the simplicity of the design and so- posterity, and to induce their heirs to lidity of the work: but we must re- attend to the preservation of monumark, that its forin was borrowed ei- ments thus exposed to the eyes of the ther from the Egyptians or Etruscans; public. Those of the principal famifor it was equally common to both lies bordered the Appian and Flaminian these nations, and was adopted by the ways, which were the most frequentRomans, not only for the tomb of ed outlets from Rome to the proCestius which stiil subsists, but for vinces; the first leading to the south other sepulchres, which time has de. and the east, the second to the north stroyed." On some occasions, these and the west." Pyramids were in the shape of cones, This work is comprized in one 8vo. and placed on a square basis : such in volume of 408 pages. reality are those seen by the tomb at the lake Albanus, which erroneous tradition has ascribed to the Curiatii. LXXIX. Poems, by Mrs. Opie. "Most of the mausoleums con
With a Plate, designed by Opie, structed about the time of the first engraved by Reynolds. * Mr. Charles Rofini published, in 1793, TH
HE poems in this duodecimo vo
lume are the following: at Naples, the third book of this work, entitied first MxPixas, to which Professor Schutz
Sonnet to Winter - The Dying immediately directed his attention, and in Daughter to her Mother - Allen 1795 favoured the world with his'observa. Brooke of Windermere-The Maid tions. These are all the fruits that have yet of Corinth to her Lover— The Mournbeen reaped from the discovery, almuse mia er- To the Glow-worm-The Negro taculous, of so many manuscripts.
Boy's Tale-- Lines written at Nor.