there is any truth in official documents, it was long, since any thing but the produce of our own soil had been sold in our markets. The reduction of taxes-of those, more especially, which affected agriculture directly-was every where pronounced to be an infallible panacea; though there is certainly no small difficulty in perceiving, how the removal of taxes on agriculture can raise the price of agricultural produce. These measures, however, were paltry and insignificant, when compared with three topics, which formed the darling themes of the meetings which arrogantly presumed to speak the tense of the people of England. These three topics were, parliamentary reform -the abolition of tithes and a forcible reduction of the interest of the national debt. The last of these was spoken of with a complacency, and listened to with a toleration, which a few years ago would have been incredible. Country gentlemen of moderate politics and of consequence in their own districts, were not ashamed to allude to this wild and wicked dream of rapine, as a measure which might soon turn out to be most necessary and most prudent, and to hear with approving silence, or at the most with faint and hesitating dissent, the virulent rhapsodies of political bigots or incendiaries, who recommended its immediate adoption. It was a melancholy thing, to see how effectual pecuniary embarrassments had been, to delude many of that class, in whose soundness of principle and understanding England had long reposed confidence, into a forgetfulness of justice and policy. Beginning to feel the temporary pressure of distress, they dared to raise or foster "Plunder all, in order

the cry,

that we may live more at our ease.” If they were insensible to the iniquity of such a project, they ought not to have been blind to its danger; for if unfortunately the different classes of society were to be arrayed against each other, the triumph of the land-owners was surely far from being a certainty. Was it to be supposed, that the monied interest, so numerous, so active, so accustomed to act in concert, so conversant with the affairs of the world, would tamely submit to be plundered? If, on the one side, the appeal to the people was to be" deprive the fundholder of his property, and you will be freed from more than half your taxes;" was there no danger that the language on the other side might be strip the landholders of the estates which they have in truth mortgaged to us; and you shall have, not only fewer taxes to pay, but farms of your own to live upon." Then, on which side would the bribe have been most effectual? On which would the greatest mass of force have been assembled ? Justice, essentially and in the abstract adverse to both, would have been relatively with those, who, being originally the assailed and not the assailants, were driven to violate her rules only as a defence against aggression.

It was most fortunate for the country, and most creditable to our nobility, that, although many of our country gentlemen (more especially of the secondary class) were seduced by circumstances into notions quite irreconcileable with justice, our high aristocracy remained true to old English maxims. The representatives of all our great families, whether ministerial or anti-ministerial, with scarcely a single exception, opposed

and reprobated every proposal tending to recommend a breach of faith with the public creditor; and their unanimity and firm adherence to sound principles tended, no doubt, to arrest the progress of the pernicious doctrines with respect to national bankruptcy, which were beginning to have some currency. The country had here a new instance, in addition to many which it had before, of the benefits to be derived from a dignified and opulent peerage like ours.

It must not be supposed, from the clamorous outcries made at public meetings, in the beginning and throughout the whole course of the present year, that the prosperity of the country was on the wane. All our manufactures, and more especially those of cotton and woollen, were in an active and flourishing state; the workmen had abundance of employment and were liberally paid. Trade was increasing, and its profits were steady and uniform. The rate of these profits was indeed less than in past times; but this was the effect and the sign, not of public distress, but of public prosperity; for an augmented accumulation of capital must tend to produce a lower rate of profit. All classes of people could purchase the necessaries of life at a more moderate price, than had been known for nearly thirty years. These, surely, were elements of no slight importance in the composition of a state of national prosperity.

Even with respect to agricultural distress, there was much fallacy in the current statements. There were many districts of the kingdom, in which the distress did not exist to any considerable extent. This was the case with a great part of Yorkshire, and indeed

with the northern counties in general. In no quarter of the island were any visible traces of the decay of agriculture to be found-no proofs, either that a less quantity of land was in cultivation, or that the general produce of the country was diminished. In consequence, indeed, of the change which had taken place in the money value of agricultural produce, a great part of the capital, which had been invested during the war in the improvement of land, was, in effect, lost; because it would no longer afford

a

money return adequate to its amount at the time of its original investment. Cultivators of the ground, who had so invested their capital, were, in truth, unlucky speculators; they were precisely in the same situation, as if they had laid out their money in the purchase of a large quantity of cotton, and that article had fallen greatly and permanently in price, before they had disposed of any considerable part of their stock. The necessary effect was, that farmers, who had been accustomed to look upon themselves as rich men, now found themselves comparatively poor, and were, therefore, naturally enough, clamorous. To add to their impoverishment, rents had not been lowered, till long after the fall in the money value of agricultural produce; so that part of the remaining capital of the cultivator had been, during several years, extorted from him by his landlord in the shape of an extravagant rent adjusted to the scale of the war price of corn. While the funds of the farmer were thus reduced, he was probably harassed by pecuniary engagements, entered into in the time of his more prosperous operations; for the interest and principal of any

debts which he had contracted remained undiminished, though his means of payment were so greatly impaired.

At the commencement of this change in the situation of the farmers, and for some time afterwards, the landlords suffered comparatively little; but the distress had now reached them, and they felt it in its whole extent; not that any new causes of evil had sprung up, but merely in consequence of the continued operation of the causes, that had been all along at work. They had been at length compelled to lower their rents generally and greatly. This alteration, which, being an apparent diminution of wealth, could be pleasing to none, was a severe hardship upon all whose estates were encumbered with heavy money charges. Mortgages, jointures, portions for younger children remained unaltered in their amount; and it was no easy matter to discharge either the principal or the interest of them, when the rental of the estate, out of which they were to be satisfied, was reduced by a third, or a half. Even this reduced rent, was, perhaps, not obtained without much difficulty, and was frequently altogether lost; for tenants were in a state of insolvency; the capital of the farmers was gone: and, overwhelmed with debt, they had not the means of cultivating the land in the most advantageous

manner.

Such was the nature and extent of the agricultural distress complained of; the great change in the money value of agricultural produce had ruined or impoverished the existing race of cultivators, and had involved in embarrassments all who were loaded with

pecuniary engagements, and had no other fund, except the income of land, out of which to satisfy these engagements. The evil was clearly out of the reach of legislative remedies. No law could give back to the insolvent farmer the money invested by him in the cultivation of land, when all produce bore a high price. No law could enable the landlord to obtain the same rent while corn was cheap, which he had gotten when corn was permanently dear; no law could enable the country gentleman to pay the interest of his mortgages, the jointure of his predecessor's widow, the portions of his brothers and sisters, out of an income of three thousand a year, as easily as out of one of five thousand. But, though the sufferings of the farmers and of many landholders, were unquestionably severe, and though they were such as could not be remedied by legislative enactments; yet, the pecuniary embarrassments of these classes were no proof of general distress, or of any retardation in the progress of national prosperity.

The clamours of the country gentlemen before the meeting of parliament, had, probably, a great influence in determining the mi

nisters to form an union with the Grenville party. The marquis of Buckingham was elevated to the dignity of a duke; Mr. C. Wynne was placed at the head of the board of Control; and another of the family, Mr. H. Wynne, was named envoy to the Swiss cantons, with appointments to the amount of about 4,000l. a year. This union excited, as might have been expected, loud clamour among the whigs. The acceptance of place by men, who had so often been found voting in the Opposition mi