Mr. OTTEY's motive is, doubt-Į " Stewards," and no

"wands."

less, that humanity, which was, These are for the protection of

such heroes as GLORY, and that

as

I oberved last week, so conspicuous in his efforts to rescue

scab of his Rump

" DADDY

the poor CHAIR from its state of STURCH." These "wands" will

never again knock a man down, when he is rising to put a question at the Purity Dinner. I shall, I think, take some of mine to my gardens, and use them, to put old clothes upon, and dress them up as shoy-hoys. Others I will turn

horrible degradation, by putting it on the high-road to the flames, an end in which he, without doubt, expects the "WANDS to partake. Precisely what will become of them I cannot tell; but this I know, that I will exhibit some of them at Fleet- to all manner of vile uses; but

Street, that
my readers may have
an opportunity of seeing with their
own eyes the sort of arguments by
which Glory's opponents were
kept in silence.

some I will keep to make a fire under the Gridiron, on which we will broil an old dunghill cock at the next feast of the Gridiron. We will not care about any charge

Thus have we the outward and of pretended inhumanity, for thus infallible signs of the total break-broiling OLD GLORY in effigy. In ing up, frustration, dispersion, de- short, what I shall do with these gradation and everlasting repro-wands I cannot tell; but as doubtbation and perdition of those two detestable factions, the WHIGS and the RUMP. Please God, we will have some toasts relative to them at the Grand Feast of the Gridiron ! where we will have

no

Stewards," as we had none

at the last feast. We wanted no

less I shall have enough to say about them hereafter, this may suffice for the present. I know that they have brought me from my gardens to this cursed wen to

day, and I will be revenged upon

them, by hook or by crook.

Gray's Inn, 13th Sept. 1827. SIR,-The commerce between

"hundred ounces of gold, were "put on the books, on the same "day, for Calais. The Bank, two nations cannot be so equally "we understand, are withdraw-balanced, that the amount of the "ing their paper. All the late exports of the one shall exactly "sales of Exchequer Bills, which correspond with that of the ex"were supposed to be on the part ports of the other. There must "of the government, were, in fact, be some difference, and this "on the part of the Bank. This difference must eventually (to "is the only way in which the adjust the accounts of the two

:

ports is called the balance of is known by being compared in trade, and in a common state of the same way with goods and things, becomes more or less in the relative value of each is in favour of any country in propor-proportion to its scarcity. Thus tion to the cheapness of its pro- gold being the least plentiful, is duce; the value of which produce the dearest; and copper being the is regulated by the quantity of most abundant of the metals used the circulating medium. as money, is the cheapest.

Whenever, therefore, the quantity of paper-money at home is at

In England, the circulating medium consists partly of the precious metals and partly of paper. an excess, the balance of trade The former can only be increased will turn against this country. by the balance of trade being in Let us suppose, for instance, a favour of this country; but the number of Russian merchants arlatter can be increased to any riving at London, with cargoes of amount at the arbitrary will of the Bank Directors. If then, by excessive issues of Bank paper, the total amount of the aggregate tersburg a quantity of British circulating medium be increased woollens. Without knowing the to double its former quantity, cause, they are surprised to find money thus made twice as abundant that, notwithstanding the superior as formerly, will be twice as skill and machinery of the British cheap; or in other words, goods manufacturer, they can obtain will be twice as dear. For woollens of equal quality in the idea of value being relative, Saxony at a less price, and are the price of goods is ascertained consequently deterred from makby comparing its quantity with ing their purchases in England. the quantity of money; as, on the The same is the case with the other hand, the value of money merchants of other nations. The

tallow, deal, hemp, &c., and hav-、 ing sold their merchandize, being desirous of taking back to St. Pe

French will go to Sweden for only aggravate the evil which must their lead and iron, to be pur-ultimately come the heavier for chased in the same way with the delay.

produce of wines, &c. sold in Eng

land.

For England, you will observe, from its superabundance of paper money, will be the best market for the sale of goods, but the worst for the purchase of them.

I am, Sir,

Your constant Reader,

and most obedient Servant,

CHRYSOPHILUS LoveGOLD.

ON THE

VALUE OF CHURCH AND
ABBEY LANDS.

SIR, I observe in your Second

Thus foreigners abstaining from taking our produce in return for theirs, bills on foreign countries become scarce and the exchanges fall. The gold is drawn away from the Bank of England in order to be remitted in payment Part of the History of the "Reto foreign countries, and this formation" (a work, permit me drainage, which is already begun, to say, that has probably arrested must and will continue until the the attention of the country more balance of trade be rectified by a than any that was ever writien), very considerable diminution of that you have multiplied the the paper money, or until there be yearly value of the Church Prono gold left, and a Bank Restric-perty, as estimated at the time of its confiscation by King Henry tion take place. For it is not in VIII. by 20, to give your idea the power of any band of Jews of the yearly value of the same to avert this catastrophe by drawproperty at the present period; ing fictitious or accommodation but on referring to paragraph 4 Bills on foreign countries. They of the Introduction to the Second

Part, I see no data given by in its vicinity, or by any other

which you have arrived at that calculation; on looking back, however, to paragraph 466, of the First Part, I presume that you

have been guided by a compa

means, save that of the improvement of the roads, which may be. said to be general throughout the kingdom.

The above mentioned property

rison of the average price of was acquired by two purchases;

Wheat during the progress of the Reformation and the price at the time you were writing.

I shall now relate some facts, from which I think it will be evi

dent to you, that you have very

that is to say, in 1525, 16th Henry VIII., the tenement and four acres were purchased for 8l., and in 1529, 2d Edward VI., the other four acres were purchased for 21. 10s. (the yearly value being stated in the deed to be 1s. 8d.), so that the property comprised in the two deeds was, in 1529, worth 107. 10s. In 1560 the tenement and eight acres were

much undervalued the present annual value; for I have referred to the title-deeds of a small estate, consisting of a cottage or small farmhouse, and eight acres of land, situate at a retired sold for 201., and were purchased spot in a parish in Kent; which (being always similarly described) property, from the description in by the ancestor of the present all the writings up to the 16th proprietor, in 1675, for 1607; Henry VIII. and its present condition, I have no doubt, from

and in 1815, the same property was valued by an eminent surveyor, at 4601., exclusive of the

knowing it well, is now, and has from the time of Henry VIII. timber, which was of long growth, always remained in the same and had previously been sold for state, nor has its intrinsic value 3501. The estate is now, and has been increased by any manufac- been for some years past, rented turing having been introduced by a small farmer, who holds