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-the remainder the Emperor Charles VII. was going again being in cipher, except the con- by, at a moment when all the people junctions and other words, from which were silent, she cried into the coach nothing of the meaning could be con- an eager Vivat! and so caused him jectured.

to take off his hat to her, and even As to this matter, it still is remarks to thank her graciously for this bold able, that persons who showed in gen. compliment. In her house, too, every eral no trace of any mysterious power thing about her was in movement, of foresight, obtained for the moment joyous and brisk, and we children in his company the presentiment, were indebted to her for many a pleathrough means of sensible signs, of gant hour. certain events of disease and death A second aunt was in a more quiet taking place at the same time, but state, but also one suited to her cha. locally distant. But no such gift has

as the wife of the minister descended to any of his children or Stork, incumbent of St Catharine's grandchildren. For the most part Church. He lived, suitably to his disthey have rather been sturdy people, position and employment, much alone, full of the enjoyment of life, and rest- and possessed a fine library. Here I ing only on the actual.

first became acquainted with Homer, This leads me to recall them with and that in a prose translation, as it is gratitude, for much kindness which I found in the seventh part of Herr Von received from them in my youth. Loen's new collection of the most reThus, for instance, we were employed markable travels, under the title, Hoand amused in very many ways when mer's Description of the Conquest of we visited the second daughter, mar- the Kingdom of Troy, which is ornaried to a drug-dealer, Melbert, whose mented with engravings in the theatri, house and warehouse lay in the mar- cal French taste. These designs corket, in the midst of the liveliest and rupted my imagination in such a degree, most crowded part of the town. There that for a long time I could represent we could look very pleasantly from to myself the Homeric heroes only the windows at the crowd and crush, under the like forms. The incidents in which we feared to lose ourselves. themselves unspeakably delighted me. And although at first, among the many Only as to the work itself, I had much different articles in the warehouse, only complaint to make that it gives us no liquorice, and the small brown stamped account of the capture of Troy, and cakes made from it, had any great in. ends so abruptly with the death of terest for us, yet we gradually became Hector. My uncle, to whom I exacquainted with the profusion of obs pressed this reproach, referred me to jects which pass in and out in such a Virgil, who then completely satisfied business. This aunt was the liveliest my demand. of that generation of the family. It will be taken for granted, that we While my mother, in her earlier years, children had, among our other lessons, liked to be nicely dressed, and engaged a continued and progressive instruction in some pretty female work, or in in religion. But the Church Protesreading a book; the other went about tantism imparted to us was properly the neighbourhood to take charge of nothing but a kind of dry morality. Of neglected children, to attend to them, lively exposition there was no thought; comb them, and carry them about, and the doctrine suited neither the unwhich, indeed, she had practised for a derstanding nor heart. Thus, there good while with me. At a time of were many kinds of dissent from the public solemnities, or at coronations, Established Church. There arose the she could not be kept at home. Even Separatists, the Pietists, the Moravias a little child she had grasped at the ans, the Quiet-in-the Land, and others, coins scattered on such occasions. however named or characterised, who And it used to be related, that once all, however, had only the one purpose when she had got together a good of approaching the Deity, especially share, and looked at them compla- through Christ, more nearly than cently in the palm of her hand, some seemed to them possible under the one had struck them away, and so she form of the Established religion. had lost at once the well-won spoils. The boy heard these opinions and She took also much pride in the fact, propensities unceasingly spoken of; for that standing on a stone-post while the clergy as well as the laity divided


themselves into the for and against. quartetts, although it had latterly been Those more or less dissenting were al- but little used. The boy possessed ways the minority ; but their mode of himself of this, and built up in steps thinking was attractive by originality, the representatives of nature, one heartiness, steadiness, and indepen. above another, so that the whole dence. Many stories were told of looked agreeable, and at the same their virtues and the expression of time expressive enough; so, at an them. There was especially much early sunrise, the first adoration was talk of the answer of a pious tinman to be performed - only the young to one of his own trade, who tried to priest had not settled with himself shame him by the question — who how he was to produce a flame which then, in truth, was his confessor. should give at the same time a pleaWith cheerfulness and confidence in sant smell. At last the thought struck his good cause, the other answered him of combining the two, as he I have a very distinguished one, no had some pastils of incense, which, if meaner than the confessor of King not with a fiame, yet with a glimmer, David.

diffused the most agreeable fragrance. This and the like might easily make Nay, this gentle burning and exhalaan impression on the boy, and excite a tion appeared to express what passes similar disposition in him. In short, in the heart still better than an open he fell upon the thought of directly ap- flame. The sun had long risen, but proaching the great God of Nature, neighbouring houses concealed the the Creator and Preserver of heaven

east; at last it appeared above the and earth, whose earlier displays of roofs. Immediately a burning-glass wrath had long been effaced from me- was taken up, and by means of it the mory by the beauty of the world, and pastils were lighted, which stood the manifold blessings which are be- upon the summit in a handsome china stowed on us in it. But the way to basin. All succeeded according to the accomplish his purpose was very pecu- wish, and the devotion was complete. liar,

The altar remained as a peculiar orThe boy had, in the main, confined nament of the room which had been himself to the first article of belief. granted to him in the new house. The God who stands in immediate Every one saw in it only a well-decounion with nature, and owns and loves rated collection of natural objects, but it as his work this seemed to him the boy knew better what he did not the true God, who no doubt can enter tell; he longed for the repetition of into a closer relation with man, as that solemnity. Unhappily when the with every thing else, and will care most suitable sun rose, the china cup for him as well as for the movement was not at hand. He placed the pasof the stars, for days and seasons, for tils immediately upon the top of the plants and animals. Some passages music-desk; then they were lighted, of the gospel said this expressly. The and the devotion was so great that the boy could not assign a form to this priest did not observe what damage his being, he therefore sought him in his offering caused, until it was too late, works; and, in the true Old Testa- for the pastils had burned mercilessly ment manner, would raise an altar to into the red lacker and the fine golden him. Natural productions were figu- flowers; and, as if it were an evil ratively to represent the world. Over spirit that had disappeared, they left these a flame was to burn, and dignify behind their black indelible footthe heart of man aspiring towards his steps. This threw the young priest Maker. Now the best ores and spem into the most extreme perplexity; he cimens were taken out of the cabi. was able, indeed, to hide the mischief net of natural objects which he pose by the largest and showiest pieces of sessed, and which had been accident- ore, but he had lost the spirit for new ally increased ; but how to range and offerings. And this accident might pile up those was the next difficulty. His almost be regarded as a hint and warnfather had a handsome red-lackered ing how dangerous it always is to try gold-flowered music-desk, in the shape to draw near to God by such proof a four-sided pyramid, with different ceedings. stages, which was very convenient for

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Among the many subjects of presso all, is a thing which, by universal ing importance and painful interest, consent, is never to be thought of. which the present state of the empire Future ages will probably concur in the forces on our attention, there is none conclusion, that the imprudent and unwhich is of more serious national con- called for remission of taxation, and the cern than the state of the public finan- wide breaches effected in the Sinking ces. It is of the more importance that Fund, from 1815 to 1830, are the the subject should be carefully consi- greatest stain upon the Tory admidered and duly pondered, by all persons nistrations of Great Britain ; and capable of forming a rational opinion that, if a more manly and far-seeing on the existing state of affairs, that it is system of financial policy had been one which never, till a crisis arrivesadopted, the burden of the debt, and attracts the general notice of the people. the pecuniary embarrassments of the If, indeed, a suspension of the divi- state, would by this time have almost dends to the public creditor, or of the entirely disappeared. But, disastrous regular pay to the army and navy, were and inexpedient as were the prodigious to occur, the public terror would know and uncalled for reductions in indirect no bounds; and one-half of all persons taxes which they made, their system of of property in the empire would soon finance was wisdom itself, compared to be ruined by the universal pressure that which has been adopted by their that would take place upon all persons

successors; and, as the nation has now connected with either agricultural or

enjoyed four-and-twenty years promanufacturing engagements. But, till found peace, of which fifteen were such a calamity occurs, the bulk of the passed under Conservative, or semipeople take very little interest in the Conservative, and nine under Liberal financial concerns of the nation; and, administrations, all classes have had when they are roused on the subject, ample materials on which to form an it is generally for no other object but opinion, both as to the probability of to clamour for a reduction of taxation, the debt ever being materially dimior oppose the imposition of any new nished under the present system of assessment. General systematic views popular government, and of the poli. for the regulation of financial concerns tical party whom they have to thank are never embraced by the majority for the present hopeless financial situaof the people, either in private or

tion of the country. public affairs; and the system of living It is no easy task even for those from hand to mouth, unhappily so most experienced in these matters, to common in domestic concerns, speedily state accurately, upon a retrospect of proves fatal to the financial affairs of a considerable part of a century, what any old state, in which the popular progress has been made in the reducvoice is rendered paramount in the

tion of the debt in every particular legislature.

year; because so many financial operAmong the evils which have been ations take place, by which the stock brought upon the country by the Re- is apparently affected, and so much form Bill, and the consequent substic translation of the debt is made from tution of the vacillation of multitu- an unfunded to a funded state, that dinous for the steadiness of patrician the ordinary financial tables, if not rule, it is perhaps the greatest ; be examined by a person accurately accause it is certainly the most irreme- quainted with the details, are often diable, that all attempts, even at fore- more calculated to mislead than to sight, or a prospective system in our inform. There is one test, however, financial concerns, has been abandoned which, after the lapse of considerable —that no administration ever thinks of periods, affords a certain criterion by doing more than getting through the which to judge of the progress which session of parliament with as little has been made either in diminishing clamour as possible, and that the im- or augmenting the public debt. This position of any new taxes, unless under is by comparing the sum total of the the pressure of some instant national funded and unfunded debt at the com. danger, which strikes the senses of mencement and termination of two


different periods ; for, whatever jug- Tory Government in 1830, and at the
gles statesmen may engage in to de- present time. The results will pro-
ceive either the public or themselves bably surprise many persons who are
from year to year, they can by no not accustomed to look to the vast in-
possible contrivance exhibit a diminu- fluence which an unforeseeing system
tion of the debt and its charges of all of financial policy produces in a course
kinds at the termination of a period, of years upon the national fortunes ;
as compared with its commencement, but their accuracy may be fully relied
unless a real reduction has taken place. on, as they are all takeh either from
In order to apply these principles, and Porter's Official Parliamentary Ta.
bring out in an accurate manner our bles, or from the Finance accounts for
present financial state, and the man- the year 1838, lately presented to
ner in which it has been effected by Parliament.
nine years of Whig administration, we The state of the Public Debt on 1st
shall plunge at once in medias res, January 1816, being the commence-
and exhibit a statement of the amount ment of the year after the battle of
and charges of the public debt at the Waterloo, was as follows:-
close of the war, the resignation of the
Funded debt,

Unfunded ditto,




L.864,822,441 The existing Public Debt on the 1st of January 1831, two months after the Duke of Wellington resigned office, was as follows:Funded debt,

L.757,486,997 Unfunded ditto,



L.785,239,647 Paid off of Public Debt in 15 years,

L.79,582,794 The charges of the Public Debt at these two periods exhibit a still more gratifying result. Interest of funded debt on 1st January 1816, L.29,924,748 Ditto of unfunded ditto,

3,014,003 Total,

L.32,938,751 Interest of funded debt on 1st January 1831, L.27,657,004 Ditto of unfunded ditto,

793,031 Total,

L.28,450,035 Reduction of charges of public debt effected in fifteen years of Tory administrations,

The state of the Sinking Fund at these different periods was as follows:
On 1st January 1816,

On 1st January 1831,


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Thus it appears, that during fifteen fund--a clear surplus of income above years, the Conservative party, with all expenditure--of above two millions six their faults of omission and commis. hundred thousand a-year to their suc. sion, and they were not few, and al. cessors, • The way in which these most all rose from one cause, viz. the benefits were obtained was by keeping desire to obtain present popularity at the revenue permanently above the the expense of the ultimate interests expenditure, and yearly applying the of the state, had succeeded in effect- excess, whatever it was, to the reducing a very great diminution in the pub- tion of debt. The table given below lic burdens. They had paid off no

will show the amount of the sums year. less than eighty millions of the debt; ly contributed in this manner to the they had reduced its annual charges reduction of the funded debt; and the by nearly four millions five hundred great variation in the yearly amounts, thousand, and they left a real sinking strongly demonstrates how powerfully,

* Porter's Parl. Tables, I, 1, 6; Pebrex's Statis, Tables, 33 and 4. NO, CCLXXXVIII, VOL, XLVI.

2 1

even then, the short-sighted popular in the interest of debt-an astonishing clamour for reduction of taxation had reduction, more especially when it is come to break in upon the regular and considered that it could apply only to systematic action of a powerful Go. two kinds of stock, which, taken tovernment.*

gether, did not amount to two hundred We have said that the Conservative millions of the public debt. And the Governments are much to blame for fact of Government having been able the manner in which they yielded to to effect so great a diminution of the . the popular clamour for a reduction of public burdens, by the reduction of intaxation, and particularly for their im- terest, afforded the clearest possible mense repeal of the indirect taxes, demonstration of the wisdom with great part of which, without being any which, so far as they went, their genesensible burden upon industry, contri. ral financial measures were conducted; buted in a most powerful manner to for it was solely by sustaining the puba uphold the public credit, and the re- lic credit so effectually, as maintained moval of which, without benefitting the funds at a high level, that these any one but the dealers in the articles great financial benefits were obtained taxed, crippled in the most serious to the nation. manner the operation of the Sinking- The merit of the Tory AdministraFund, and prevented the three per tion, in effecting this great diminution cents from rising to par, which would in the public debt, was the greater, that at once have enabled the Government two most important circumstances, durto reduce the interest upon it to two ing almost the whole of their career, conand a half per cent, and thereby saved tributed most powerfully to cripple the the nation several millions annually financial resources of the state, and disfor ever. But that their financial ope- able the nation from bearing the burdens rations, upon the whole, notwithstand indispensable for a prudent and effecing this culpable concession to public tive system of financial administration. clamour and delusion, were conducted The first of these was the extreme with wisdom, and directed to great and public distress occasioned for several durable objects, is decisively proved by years after the close of the war, by the the fact, that they were enabled to combination of unusually bad seasons, maintain the public credit so high as with the great diminution of general to effect the vast reduction in the pubs employment, arising from the terminalic burdens which was occasioned by tion of the vast expenditure and boundpaying off the five and the four per less demand for labour occasioned by cents. The first of these financial ope

The seasons of 1816 and rations, which took place in 1818, ef- 1817, it is well known, were the coldest fected a diminution of seventeen hun- and most rainy that had been expedred thousand a year on the interest of rienced for half a century ; and at the the debt; the second, which took very moment that nature was thus deplace in 1824, produced a saving of nying her usual return to the agricultu. three hundred and fifty thousand. Be- ral labour of man, the transition took tween the two, above two millions place from a state of war to that of sterling a year was saved to the nation peace-the national expenditure sud

the war.

* Sums applied to the reduction of debt, being the real sums of income over expenditure, from 1816 to 1831.

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* Porter's Progress of the Nation, ii. 290.

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