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ray,

To the poor humble cottagers softly said he,

I hear the bell tolling which calls you to pray,

Forget not to pray, my good neighbours, for me.

But when, at grave twilight, the murm'ring cascade,

Its gentler waters shall give to the rills,

And the willow shall cast o'er its features a shade,

Ah, think that I then am releas'd from all ills;

Though sick, and though faint and dejected I lay,

Ah, think that at last my pure spirit is free,

And when the bell tolls to invite you to pray,

Forget not to pray, my good neighbours, for me.

Like the blossom that blooms, and is nipp'd on the morrow,

I'm doom'd to the grave ere the hour of my prime,

Though us'd to affliction, to anguish, and

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lous knee,

Will weep as the bell tolls, that calls you to pray,

And join, my good neighbours, in praying for me.

HUME AND DEAN SWIFT.-Mr. David Hume did not entertain so high an opinion as most Englishmen do of the superior style of the Dean of St. Patrick. In a letter to Dr. Robertson, in which he is remarking on some Scotticisms into which the learned D. D. had fallen in his history of the emperor Charles V., he "But says, I know your affection for wherewith proceeds from partiality to Dean Swift, whom I can often laugh with, whose style I can ever approve, but surely can never admire. It has no harmony, no eloquence, no ornament; and not much correctness, whatever the English may imagine. Were not their literature still in a somewhat barbarous state, that author's place would not be so high in their classics."

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LIST OF WORKS PUBLISHED. Tucker's Review of the Finances of the East India Company in 1824, 8vo. 7s.-Hubert's Philosophy of Apparitions, crown 8vo. new edition, 12s.-Holman's Travels in Rus sia, 2 vols. 8vo. 11. 4s.-Kealing's Travels to St. Peter's River, 2 vols. 8vo. 11. 8s.-Fieldbourg's Denmark delineated, royal 8vo. 11. 11s. 6d. Thoughts and Recollections, fc. 8vo. 7s. 6d.--Evidence on the State of Ire. land, 8vo. 12s.-Holland's Economical Book, new edition, 12mo. 4s.-Joyce's Practical Mineralogy, 12mo. 7s. 6d.-Choice and No Choice, 2 vols. 12mo. 10s.-The Last Days of Lord Byron, by Major Parry, 8vo. 12s.

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NOTHING Contributes so much to augment the power of states, and the improvement of society, as commerce. It is the great source of opulence, population, and naval power. It not only enriches but civilizes nations: by commerce,. national prejudices are allayed, mutual wants supplied, and useful discoveries and inventions communicated. A successful commerce lays the foundation of agricultural prosperity, is the foster mother of literature and the arts, and the dispenser of comforts, luxuries, and enjoyments to all classes of the community.

VOL. I.

London for many ages has been the great emporium of commerce; at what period it became celebrated is uncertain. Tacitus says, in his time it was "a famous mart of foreign and domestic trade," and as the Romans were no encouragers of trade, it is not improbable that an active intercourse with the Phoenicians might have been carried on long before the invasion of Cæsar. The merchants of the metropolis enjoyed many centuries of prosperity before they could boast of that necessary appendage to a commercial city, a public EXCHANGE. We learn from the

U

66 Percy Histories," that the place where they commonly met for the transaction of business was in Lombard-street; now one of the narrowest and most inconvenient thoroughfares in London. Here the Lombard Jews, from whom the street derives its name, and who were originally the bankers of all Europe, resided; here, too, they probably kept their benches, or banks, for pecuniary transactions, as was then the custom in the market-places of the continent.

The unsuitableness of this place of resort was long a subject of remark; and, in old authors, the merchants of London are described as being "more like pedlars than merchants;" from their "walking and talking in an open, narrow street, enduring all extremities of weather," or skulking for shelter "under doorways and gateways."

At length this mercantile inconvenience was remedied, by that great be nefactor of the metropolis, sir Thomas Gresham. In 1564, this public-spirited individual proposed to erect a public exchange, and generously offered to the corporation of London, that if they would procure a central and commodious site, he would himself defray the expenses of its erection. The corporation met the proposal in a spirit of equal liberality, and immediately purchased eighty houses, forming two little alleys, leading from Cornhill into Threadneedle-street, which they pulled down, and assigned the vacant space for the erection of the proposed building.

On the 7th of June, 1566, the foundation of the new edifice was laid, and with such activity did sir Thomas proceed in the work, that it was wholly completed before the November of the following year. Such, however, is the power of old habits, that it was some time before the merchants could be prevailed upon to avail themselves of the new mart. The building had been two years open for their reception when queen Elizabeth signified her intention to pay it a visit of inspection; but so many shops remained unoccupied, that sir Thomas found it necessary, two days before the promised visit, to go round among the shopkeepers, and beseech them, to furnish and adorne, with wares and wax-lights, as many shoppes as they either coulde, or woulde, and they should have all those so furnished rent free for that yeare." Her majesty was much pleased with the edifice, and commanded, that instead of the foreign name Bourse, by which the citizens had begun to call it, it should be styled "THE ROYAL EXCHANGE."

In the great fire of 1666, the exchange

was among the many proud fabrics which that terrible calamity reduced to ashes. When this lamentable disaster took place, the funds in the hands of sir Thomas Gresham's trustees were very much reduced, but, with a spirit beyond all praise, they resolved on making up from their own resources whatever might be the sum necessary for rebuilding the exchange, in a style that might do honour to the age, and still more to the illustrious founder. The total cost of the rebuilding was 58,962., which the city corporation and the mercers' company defrayed equally between them.

The plan of the new exchange is similar to that of the old one; and both took that of Antwerp for their model. An open area, one hundred and forty-four feet long, by one hundred and seventeen broad, is enclosed by a quadrangle of lofty stone buildings, with a broad piazza inside and outside, except on the east and west sides of the exterior. The principal entrance is by an arched gateway at Cornhill, of mag nificent proportions, and surmounted by a tower one hundred and seventy-eight feet high, which has a clock in the middle story, and terminates in a cupola and globe, with a gilt grasshopper (the crest of the Gresham family) as a vane. The interior arena is neatly paved with small Turkey stones; and is divided, as well as the surrounding piazzas, into what are called "walks," to each of which the merchants of particular nations resort; so that, though all the world are said to meet on the exchange of London, you may al ways find the person with whom you have business to transact. In the centre of the area is a statue of Charles II., and in niches of the surrounding building are statues of most of our other monarchs, from the time of Edward I. to George III.

Our cut presents a good view of the exchange, from the entrance in Cornhill: conspicuously, on the left hand, may be seen Mr. Rothschild, and on the right Mr. Goldschmidt; in the group assembled behind, on the area, are mingled the first mercantile characters in the metropolis.

The upper part of the exchange building, to which there is access by two spacious flights of steps, under the north and south fronts, are occupied by the Gresham lecture-room, different public companiessuch as Lloyd's, the Royal Exchange Assurance, Merchant Seamen's, &c., and by private merchants, and underwriters of respectability.

The architecture of the exchange is of a mixed character, chiefly the corinthian : it has recently undergone a thorough repair, and the exterior is now restored to its pristine freshness and beauty.

GRESHAM COLLEGE AND LECTURES.

GRESHAM COLLEGE AND LEC

TURES.

WHILE the public taste is decidedly turned to lectures, it is a subject of surprise that the munificent bequest of sir Thomas Gresham, for that purpose, is so neglected, and almost unknown. Many, we know, are doubtful whether there be a room in the exchange buildings, set apart for gratuitous lectures; others are quite cértain no such thing as lectures are ever delivered: and it is a fact,that a person may live in the centre of the city all his life, and never meet any one who has heard a Gresham lecture. However, we can affirm, of our own knowledge, that there is a room for the purpose, that lectures are sometimes delivered there, and, for any thing we can observe, it only requires a little more attention from the public to render the Gresham lectures as popular and instructive as when Dr. Barrow, professor Hooke, or sir Christopher Wren discoursed to crowded and fashionable auditories. Before offering any suggestion for the renovation of this well-meant endowment, it may be useful to some of our readers shortly to explain the nature of the Gresham foundation.

Sir Thomas Gresham was the founder of a college for the promotion of learning, as well as of the royal exchange, for the convenience of commerce: the revenues of the latter were appropriated to the maintenance of the former. This, it has been justly remarked, "was linking commerce with knowledge-at all times its ablest and most honourable ally." Unhappily,the best part of the scheme of the generous founder has entirely failed. Gresham-college, in Broad-street, no longer exists; and the spot where it stood is occupied by the Excise-office. The only remains of the foundation are the professors, their salaries, and a lecture-room in the exchange. The number of professors is seven, each receiving 100%. per annum, for reading lectures to the public. The following are the names of the gentlemen now holding these sinecures, and the days on which lectures, in term, ought to be read :

Monday-REV. HENRY PARKER,A.M., on DIVINITY.

Tuesday-REV. W. JOCELYN PALMER, A. M., on CIVIL LAW.

Wednesday-REV. PETER SANDIFORD, D. D., on ASTRONOMY.

Wednesday-MR. R. J. S. STEVENS, on MUSIC, at Two in the afternoon. Thursday-REV. SAMUEL BIRCH,A.M., on GEOMETRY.

Friday-Rev. EDWARD OWEN, A. M., on RHETORIC.

291

Saturday CHRISTOPHER STANGER, M. D., on PHYSIC.

It is apparent that the subjects of most of these discourses are of popular interest; that six of the gentlemen who deliver them have attained degrees in the universities, and of course are sufficiently learned and qualified for their professorships: how comes it then that they are not better at tended? The Gresham committee does not appear to blame; the lectures are well advertised beforehand; and at the foot, and on the landing of the staircase, they have been careful to place guides and finger-posts to direct students in their way to the lecture-room: but, unfortunately for us, this has often proved a mere mockery, for never, except once, could we find the DOOR OPEN. We will tell our experience in this matter. We were desirous, above all things, to see a Gresham professor, and to hear a Gresham lecture; we went day after day, but all to no purpose; the door was always locked. At length we were told that if we were there precisely when the 'Change clock struck one, it was probable we might be admitted. Accordingly at that hour we paraded; and truly enough! when the clock struck, the door opened, and in we went. The lecture-room is lofty, well fitted up for the purpose, and capable of holding one hundred persons or more, comfortably; there is a rostrum or tribune for the lecturer, and benches for the audience. In about five minutes the company amounted to ten, of both sexes, shortly after the lecturer entered.

The subject, agreeably to advertisement, was GEOMETRY; but to this the learned professor apparently did not feel himself obliged to adhere. He did not say a word about sines, cosines, or tangents. He descanted for half an hour on the nature of fire and heat-the velocity of the solar rays-the properties of the prismthe cause of refraction—and concluded an interesting and variegated discourse with some ingenious observations on the making of spectacles. To all this there could be no objection. The only thing that struck us was, that the lecture was a little out of date, probably read from some ancient document, which had been preserved for many generations in the archives of Gresham-college, and to which the reverend professor had succeeded along with his professorship. However this may be, we certainly did not hear the lecturer use such new-fangled terms as caloric and latent heat, nor were the names of Leslie, Wollaston, or Brewster, mentioned.

If there be any deficiency in the matter of the Gresham lectures, we think

many excuses may be made. At present, the professors are entirely neglected by the public; were they to deliver ever such shining discourses, they would not procure the smallest additional fame or emolument. For these disadvantages two remedies may be suggested: first, to report the lectures; secondly, to procure a more numerous auditory. With the first part of the business we propose to charge ourselves, either in person or by deputy. It is perfectly right the Gresham professors should not "waste their sweetness on the desert air ;" and we intend, in future, when any new lights are thrown on science, or brilliant prelections delivered by them, carefully to announce the fact to the public.

The second part of the undertaking must depend on individuals, who may feel a pleasure in awakening to life and usefulness, agreeably to the intention of the founder, a noble endowment, which has been too long neglected. The subjects of the lectures themselves are attractive; those upon music, astronomy, and rhetoric must be interesting to all classes, and to both sexes. That those who wish to attend may experience no disappointment, we will state precisely the seasons and hours when the lectures are appointed to be read.

The lectures are delivered in term time only, agreeably to the practice of the universities: the current term commenced on the 20th of April, and ends on the 16th of May.

The lectures are read twice each day; at twelve o'clock at noon precisely, in Latin, and at one o'clock in the afternoon precisely, in English.

The lecture-room is in the south-east side of the royal exchange, nearly over Effingham Wilson's book-shop.

On the part of the professors nothing appears desirable, further than that they should deliver interesting discourses, and suffer the door to be open a few minutes before and after the time, so that people may drop in. The practice at present is, just to peep out of the door precisely as the 'Change clock strikes one; if no one is waiting outside, the door is instantly shut, and no lecture read that day. It frequently happens students come a little before or after the time, but not arriving at the precise moment when the clock strikes, they find the door shut, and of course retire, concluding the Gresham lectures are all a farce.

Another peculiarity attends these lectures which it is proper to be apprized of; to secure a lecture one person is not sufficient, there must be three, at least, at the door at the precise moment we have men

tioned. Three persons, according to ecclesiastical law, are necessary to make a congregation; and, we are told, it is conformably to this law Gresham-college is regulated.

MR. M'CULLOCH'S LECTURES

ON

POLITICAL ECONOMY, AT THE LONDON TAVERN

LECTURE XI.

FOUNDATION OF COLONIES.

Colonies of Greece and Rome—Causes of the Growth of Colonies in AmericaValue of West India Colonies-High Price of Sugar for the Benefit of the Planters-Monopoly, Population, and Revenue of the East Indies- Benefits of opening the India Trade.

MR. M'CULLOCH began with defining a colony to be a settlement formed in a foreign country, by bodies of men voluntarily withdrawing from the parent state. The colonies of ancient Greece were intended to relieve redundant population, or to withdraw from contending factions. The Romans colonized for different objects: their settlements not only formed an outlet for the people, but defensive military stations in remote provinces. The former were independent states, choosing their own magistrates, enacting their own laws, and making peace or war, without consulting the mother country. Rome, on the other hand, continued to exercise a control over her colonies, appointing governors, levying taxes, and interfering in their affairs.

The colonies of modern nations approach nearer to the Roman than the Grecian model. The establishment of the European settlements in America and the West Indies arose from no necessity: after the discovery of America, the Spaniards had no intention of establishing colonies there; they thought only of enriching themselves. Whenever they landed on an unknown coast, the first inquiry was, whether it abounded in gold. A few large fortunes were made, which, like prizes in the lottery, stimulated new adventurers: as the mines became less productive they betook themselves to agriculture. For two centuries they languished in indolence, and, though in possession of the rich territories of Cuba and South America, such was the pernicious system under which they were administered, that Spain derived

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