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VOL. XX. No. 3.]

LONDON, SATURDAY, AUGUST 24, 1811.

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" If the conte-t is to be between Ferdinand and Joseph, my dec de o inion is that the latier will " reinain king of Spain; and whatever my wishes may be, the tortle patriots would rather that Joseph " shoold be king, than that the war should tirminale with the establishment of a free constitution.”POLITICAL RecisTER, Vol. 14. page 928. Aug. 13, 1808.

(226 PAPER MONEY.-In the foregoing page 391; And, by a reference to the Number of the Register, at page 209, I in- same page it will be seen, ihat the doliar serted, upon this subject, an article from silver is, in point of fineness, 8 dwts. worse the Kentista Guce!te, containing the process Than English Standard silver. Therefore, and result of a curious and useful calcula. as the Dollar is now issued at 5s. 6d. and tion as to the real present worth of a one its divisions in proportion, Bank Paper is pound note ofibe Governor and Company to Sterling as 511 to 66, which makes the of the Bank of England. The calculation Sterling value of the Three Shilling Token was founded on the data fornished by the 2s. 441. and of the One Pound Note Bank Company themselves in their Three 15s. 81d. Let us state the matter clear at Shilling Tokens; and the result is, that the the expence of a little repetition. £. 1 Nole of the Bank is worth los. 4 d. - Nothing could be more fair than the

In Sterling,

d. author's principle, and his result was perfectly correct. But, there is an error in

The Pound Note is worth... 0

1581 the foundation on which the whole of his

The Five and Sixpenny calculation is raised; and, of course, as all

Token ........

0 4 34 the calculations are correct, there is an

The Three Shilling Token 0 2 43

1 The Guinea

1 error in the result, which error I have

0

O
The Shilling

1
perceived by a reference to that admira-
ble work, Dr. Kelly's Universal Cambist. In Bank of England Paper,
-The Kentish Currespondent states the

d. weight of the Three Shilling Bank Token

The Pound Note is worth... I 0 0 9 dwts. Il grs. or 227 grs.; and, he adds,

The Five and Sixpenný that the weight of Three Shillings is 11 dwts.

Token

5 6 15 grs., or 279 grs. llence he proceeds

3 with his calculation, and very clearly de

The Three Shilling Token
The Guinea

6 9 monstrates, that, on data furnished by the

The Shilling

0 1 3 Bank Company themselves,

The Depreciation is, therefore, A Guinea is worth in Bank .. d. 271 per centum. of England Notes ..... 1 5 92

Now, let it be observed, that these reAnd A One Pound Note of the

sults are drawn from data furnished by Bank of England is worth 0 16 44 Three Shilling Tokens. These Tokens not

the Bau's Company themselves in their But, this Gentleman, for whose pains I beg only deciare the real value of the Bank leave to offer him my sincere thanks, for- Notes; but, they declare what the Bank got, or he had never known (as would Company themselves look upon as being have been the case with me without the the real value of their notes. -Those aid of Dr Kelly's Bouk), that there is a notes are, then, depreciated, in comparison considerable ditt rence between the finness with gold and silver, 27į per centum ; of the Token Silver and the Standard Silver, and, their pound note is really worth only and, of course, a considerabie didirence i5$. 84d. is good and lawful money of this between the value of the one and that of realm.----If this be false, any one may the other.

The Token Silver is the saine shew it by tigares; and, if no one does with the Dolur Silver. The Dollar is not, sbew it by figures, let the Paper- Mill peoas is generally supposed, worth 48: od ple for ever afier hold :heir tongues.serrling ; but 4, 314. as will be seen by If one wanted any thing more to establish referring to the Universal Cambist, Vol. i, ihe fact as well as the degree of deprecia

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tion, the state of the gold market and of the which is, as nearly as can be, a fall of 27 { exchange would. The Portugal Gold coins, per centum. - Thus is this fact of deprewhich are not all equal in fineness to our ciation proved in all manner of ways; and gold coin, now sell, leaving, of course, a yet are there hirelings to deny it. Their profit to the broker, at £.4 178. 6d. an denials, however, answer no purpose. ounce, if paid for in Bank of England This is a point as to which all their tricks Paper. Whereas, if that paper was not will be of no avail. Here is a steady depreciated, the ounce of such coins would principle at work, and nothing that can sell for no'more than £.3 178. 10{d. in be said or done will put a stop to its prothe Bank Paper; because, as we have gress.

gress.-The depreciation of the Bank seen above, that is the value, in Sterling Paper is daily and hourly appearing under money, of an ounce of English Standard fresh guises: it is gradually putting forth Gold. Under these circumstances, is it all the usual symptoms of total annihilation. any wonder that we no longer see any At Bristol little pieces of silver, worth no gold or silver coin current? It would be more than eightpence sterling, have been very strange if we did, seeing that the issued by private individuals, and pass for guinea is worth £. 1 6s. 9d. and the sbil. a shilling, under the denomination of " neling, if good, worth 18. 3 d. in Bank “ cessary change." At Louth, in Lincoln. paper ; and, the Crown and Half Crown, shire, a Company of Carpet Manufacturers, of course, in the same proportion.--As named Adam Ede and Co. bave issued to the exchange, we will take the instance Notes for 25. 6d. These Notes are mere of France. By referring to the Universal printed cards (just like the assignats in Cambist, Vol. II, page 238, it will be France), payable to bearer; but, mark ! seen, that the par of exchange between not payable generally, but specifically in London and Paris is this: 25 livres, 11 Bank Notes. Thus : “ Pay the bearer for

Jish. Now, if Monsieur Jacobin of Paris And here, then, it all hangs together in a owed Sir Sothead Jubilee of London a string! I have frequently said, that to pound, and Sothead wanted to apply the these small notes we must come.

I have all pound to the use of Sothead Junior who along said it. It is the regular, the natural, mnight be a prisoner in France, the elder the inevitable progress; and, such notes Sothead would draw a Bill of Exchange we shall see in every part of the kingdom. for the purpose: that is to say, he would -This Mr. Adam Eve seems to be the draw an order, or bill for £. i upon Mon-founder of the half crown notes. Not a sieur Jacobin, which, upon being pre- bad name for an original inventor. His sented by the younger Sothead, would, in notes are veritable assignats. They are due course be paid in the French money, just such things as they used to have in livres, sous, and deniers; and, as we have France. They will breed amazingly; seen above, young Sothead ought to re- and, I dare say that Mr. Adam Eve will ceive 25 livres, 11 sous, and deniers;

see the country people at Louth market but,“ nu,” says Monsieur Jacobin,“ your with thousands and thousands of the pro“ English pound is not worth so much as geny in their pocket books, of a denomiuit used to be. It is not a pound in nation down so low as that of a halfpenny. specie that I owe to Sir Sothead Jubi. -As the gold and silver rise in price, lee: it is a pound in Bank Paper, there must be more and more small notes, “ because what I bought of him was or, the tokens must be raised in their no

bought in that paper. Therefore I must minal value, or else, others must be put pay you no more than the worth of one forth of the present nominal value, but of “ pound, in Bank paper." This point less weight or of a less pure quality. Perbeing settled, they look to the price Cur-haps all these three expedients will prorent and Course of Exchange of the day; ceed hand in hand. But, at any rate, the and, if it were on last Friday, they would present Tokens will not remain long in find, that, agreeably to the Statement pub- circulation, unless they be raised in nolished in London by Wetenhall, the sum to minal value; for, they will soon be worth be paid to young Suthead would be only hoarding, or selling to melt down, or to ex18 Livres, instead of 25 Livres, 11 Sous, port. The guineas and other gold coins and 6 Deniers. So that here we see, that have disappeared along with the crowns our Bank Paper has depreciated, or fallen and half crowns and tolerably good shilin value, 7 Livres, 11 Sous, and 6 Deniers lings; and, when the metals rise a little out of 25 Livres, 11 Sous and 6 Deniers; higher in price, the Tokens will march the

66

same way; for they can never be made to open to us by the sea, and, at all times keep company with a paper that is depre- capable of being assisted by us; at Tarciated lower than themselves.- -The ragona if they could not, with a numerous expedient of Mr. Adam Eve of making garrison, defend themselves against the his assignats payable only in Bank Notes French, what have they 'to expect at any has, doubtless, arisen from the knowledge, other place?- At Tarragona there was, which is now got abroad, that, as the law it appears, an army of about ten thousand yet stands, a man may demand gold or men, at the time when the assault took silver for notes payable to bearer ge- place. Between eight and nine thousand nerally; and, this will answer his pur- were actually made prisoners. This is a pose ; for, no one can enforce payment fearful fact. Why, ten thousand men of them in any thing but Bank Notes. ought to defend well-constructed works The example will, I dare say, be followed, against fifty thousand; or, indeed, against by and by, all over the kingdom, by the almost any number that can possibly Counıry Bankers, who will make their be brought to bear upon a fortified place. notes payable in Bank of England Notes. But, as the Spanish Governor himself says, But, what will this do? It will not stop his men would not meet the French in the the thing an hour; but, on the contrary, breach. They behaved well enough, it wil! accelerate it greatly, by augmenting seems, during the former part of the siege, the quantily of paper, and, of course, and until the real fighting foot to foot adding to the depreciation. - I should be began; but then they gave way; their much obliged to any one who would send hearts sunk within them; they were apme one of Mr. Adam Eve's little notes; palled; they fled in every direction ; and to any other person who would send and, rather suffered themselves to bé me one of the “necessary change” pieces killed by their own officers than meet the from Bristol. It is not for the « base French soldiers. There is no gainsaying lucre” of the thing; but I have a desire to this.. 'It is the statement of the Spanish possess memorials of the progress of the Governor himself; who says in so many grand event that is approaching. I have words, that “the garrison behaved heroicsome of the forged assignats, and I should “ally up to the moment of the assault; like to have one of Adam Eve's to keep that, even then the officers behaved them company. But, as to Mr. Adam "well; that they, sabre in hand, made Eve, he might, I think, send me from him- “ the greatest efforts to keep the soldiers self a quire or two of his money. It costs “ to their duty, and to collect them, in him nothing but the paper and print; " order that they might resist and attack and, if it were only as a brother author he " the French, who were pursuing and might afford me so trifling a gratification. “ cutting them down in the streets. Bat,"

says he, “ the terror of the soldiers inSPAIN. TARRAGONA.- -The language

every moment, and they let of those who were indulging, some time “ themselves be sabred even by us, withago, such very sanguine hopes as to the “out resolving to recommence the comwas in Spain, is a good deal changed. " bat." -This is a most striking proof They begin to tell us of treasons at Cadiz; of the dread which the Spaniards have of of enemies in our bosom; and, in short, of the French; that they feel themselves inevery thing which indicates coolness, dis- ferior to them in point of courage ; and, affection, and a declining cause.To in short, that they are impressed with a the fall of Tarragona much of this has conviction, that it is their fate to be conbeen ascribed ; and, it must be allowed, quered. -The accounts given by our that that event was well calculated to pro- own people of the close of this memorable duce dismay amongst the people of Spain. siege agrees but too well with what has Poor creatures! what are they, in any been published by the French, as will be city or place, to do against such tremend- seen in another part of this Number. ous means as the French have to bring to But, I really do not see the policy (to bear against them? What are they to say nothing of the justice) of our railing do? It is fine talking about their glorious against Marshal Suchet and his army. If cause; but, what are they to do?--At the French had railed against Lord Tarragona, where the governor appears to Nelson on account of his victory off have been a very gallant and skilful man; Trafalgar, which, in point of importat Tarragona, strong by nature and by ance, may be put, perhaps, about upon a art; at Tarragona, whi was, besides, level with this achievement of Marshal

creased

at us

upon. These

acts

Suchiet; if the French had railed against I piliaged, which we well know are the Lord Nelson upon that occasion, wbat natural and the general consequences of good would that have done then? It that very resistance which we so strongly would bare made us laugh at then, to be recommend? But, ne do more, as far as sure, just as the Fiench must now laugh our public prints go; we do more than

har is the u-e of caliing Suchet urge the Spaniards to this sort of mortal anıl bis aiilly savages and monsiero? That resistance in their towns. We record of will do Us

no grad, nor will it do the the Spaniards, that they, in numerous inFrench ally harml; and, as to the justice stances, issucre che l'rench without mercy; of ihe charge, though we have been in that the Gueritias, as they are called by formed by suchet himself, that most ter. us, and the Banditti, as they are called by rible vengeance was taken upon the town, the French, cut to pieces all the Frenchit was whaz the Go Ginor was apprized of men they can lay their hands before hand, and what he might have our public prints uppluud; they avoided by timely surrender. He did not bring them forward as proois of the proper choose that: he shewed himself a brave feeling of the Spaniards. And, while man. But, then, he was to expect the these prints do this, is it not a shame to consequences; the natural, .the regular, hear them, in almost the same breath, consequences. Since war has been war revile the French for their barbarities tuthose who have stood out and have been wards the Spaniards, which are the necescaptured by assault have been given up sary. consequence of those acts of the to pillage. There may have been more Spaniards, which these prin's so loudly than ordinary severity and brutality ex. commend? -Aye, we are told, buz the ercised at Tarragona for ought I know; French are invaders : they go into Spain but I know, ihat to give up the place to as conquerors. Very true; and I am hy pillage was nothing more than what is no means inclined to justify he invasione fully authorized by the usages of war; and conquering of a country for the sake ani it is, I am inclined 10 think, what any of conquest; but, it is, nevertheless, very English Commander would do in a simi. well known, that the circumsiance of an

-We have been assured in our enemy being engaged in an invasion, and newspapers, that the French lost above in the pursuit of conquest; it is very weil three thousand men before Tarragona known, that this circumstance does not There were the lives of these min to prevent such enemy from being considered avenge.

We all know how vengeance as a lurujul enemy, and from being treaied geis treasured up during a long siege, in according to the usu'il customs of uur. which, until the end, the besiegers gene- this were not the case; that is, if an inrally suffer most.---But, at any rate, our vader with views of conquest were to be horror at the conduct of the French and considered as shut out from the usual our compussion for the sufferings of the rules of war; if his soldiers were to be Spaniards have something about them burclered in cold blood; if no quarter wuly distinctive of the character of the were to be shown his army on account of war we are now waging in the Peninsula. his being an induder with views of conquest, We urge the Spaniards (poor souls !) 10 what would, in numerous cases, have been make a gallant defence of their towns; the fate of our armies ? For, how many we extol those who hold out against the islands, principalities, and kingdoms, have French, and we execraie those who do we invaded and conquered ? I am not, not. We call these latier cowards and observe, attempting a justification of, or traitors, though we did not call, by either an apology for, the invasion of Spain by of those namts, the garrison who last year Napoleon : whether that invasion was just surrendered at Almeida. In short, we do or unjust is a question which I will not every thing, that we can possibly do, and here attempt to discuss, though it is a say every thing, that we can possibly say, question which ought, one of these days, to induce every Spanish garrison to resist

to be soberly and impartially gone into. to the last. And, while we do this, and I am not attempting, by citing our own while we have loud and virulent censure conduct, to make any excuse for the invaat hand for those garrisons who do not go sion of Spain and Portugal by France, hold oui, is it not rather too shameful for though I must express iny fear, thai our us to pull out our handkerchiefs anu atliect example at Copenhagen, coupled with our in blubber when we see a Spanish, garri- constant declarations, that we are fighting Woo pul iso the sword and a Spaninda town the burtles of England in the Peninsula, which

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we very often call the ourworks of England ; | most grossly. The world has two eyes I must express my fear, that, with these and two ears. The world saw us take facts before the world, we should not gain possession of the Danish fleet; because much in an accusation against the French what? Why, because there was every that they have invaded the Peninsula likelihood, that, if we did not take poswithout just cause. But, , let us leave all session of it, Napoleon would take posthese matters for the present, and return session of it, and would use it against us. 1o the question as to ihe laws of war, as If the reader applies this, but for half a bearing upon the point before us; and, moment, to the case of Spain and Portucertainly these laws, if laws they may be gal, he will see, that alt the argument is called, do not authorize any distinction not on one side. ----But, if the war be between the treatment of an invading productive of such terrible evils to the army and an arıny that is not engaged in Peninsula, and if we do really feel for the invasion; for, in fact, how are people unhappy people, why do we prolong this to make war at all, upon land, without war? Fur, no one will deny, that we are intasion ? The Duke of Brunswick in the real supporters of the war in Spain as vaded France about twenty years ago, as

well as in Portugal.

• What !” Some he had before invaded Holland, with the one will say ; " put an end to the war by very same Prussian army ; but, bis army · withdrawing our aid and support!” Very was not considered as excluded from the melancholy to be sure; bit, ihen, leave off usual rules of war. The Duke of York, whining about what the Spaniards and Porour present Commander in Chief, invaded tuguese suffer from the war.--" What! France sometime afier the invasion of the give up the Peninsula to the Corsican Duke of Brunswick; he was at the taking Upstart, and thus retire in disgrace beof a town or two, and attempled to take fore bim, all our noble commanders, all others. But, did ever any one hear of bis our Lords and all our 'Squires, leave the army being refused quarter, or treated “field before a parcel of old Serjeauts and differently from the usual course of war? Corporals, the sons of farmers and iaVo: and, when the French republicans " bourers.". It would be a shame, in. threatened 10 do it, were they not menaced deed; but, then, let us not talk any longer with retaliation ? -Hence, then, it is about the sufferings of the por Spaniards clear, that the French army in Spain and Portuguese on account of the war: let. ought to be considered as a lawsul enemy', us drop that cant. -"What! quit the an enemy entiiled to the treatment pre- Penjosula where we are fighting the butiies scribed by the usual practices of war. of England ?" No, no :

to be sure tot; Therefore, if we applaud (as our prints but, then, for decency sake, do not say mostly do) acts of massacre com.nitted by another word about compassion for the the Spaniards upon parcels of the French people of Spain and Portugal who suffer army; if. this be our custom, with what from the existence of the war.----- - We decency do we set up such loud cons- have noi bere been discussing the quesplaints against the French for their mas- tion whether our cause he good or bad in sacring of the Spaniards? I do not know the Peninsula: we have been discussing this which party began the bloody work; but, question, whether it be wise or foolish in us this I know, that we applăuil it in the to attect so much compassion for the sufSpaniards, and I also know, that we therein ferings of the people in those countries, do all in our power to keep it up on boil and to talk so much about the extent of sides, seeing that we must be well assurel, those sufferings; and, if ny reasoning that the French will not be behind hand upon the subject be. correct, we shall, I in the way of retaliation.---Let us there- think, do well, in future, to hold our fore, hear no more of these compassionate longues respecting those sufferinys. effusions in favour of the Spaniards anil of propose now to add a tew remarks upon these revilings of the French, until we ihe cause of Spain and Portugal generally, have quite cleared ourselves of the charge taking things in a more eniarged view. of being instigators. – The same reason- These remarks are suggested by an article ing will apply to all the cvils of the war in in ihe Courier of the 2014 instant, manithe Peninsula. We seen to think that testly written with a view of palliating the the world has but one eye and one ear: reverses which have recently taken place, an eye kept steadily upon the ambitious and (an object never overlonked) of in. conduct of France, and an ear to listen culcating a belief that all those who did not, only to our tale. We deceive ourselves ur do not, approve of the war in the Penins

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