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which common profits could not fupply; thofe wants have been the parents of projects, and a rashi, aspiring spirit of enterprise has overborne the fober temper of regular trade. This restless and intemperate spirit has been predominant among one people, diftinguished by a feries and variety of recent projects concerted without knowledge, without forecast, without fyftem, executed by rafhness, terminating in ruin, almost total to themselves, and detriment almoft general among their fuffering neighbours. It is from this quarter, we have feen fupendous undertakings in buildings, in the cultivation of remote islands, in manufactures upon no other certainty, than an enormous and infupportable expence. It is from this quarter we have seen projects of avarice, of rapacity, productive of mifery and depopulation under the mistaken name of improvements. It is from this quarter, that the great markets of trade have been glutted by wild commercial adventurers under the delufion of a temporary but falfe capital but above all, the banking adventure is filled moit with the marvellous. That part I shall not detail, merely to avoid an imputation readily thrown upon me, an imputation of amusing the committee with poetic fiction; but thus much I must fay, in one period, that if a certain celebrated Spanish author could revive to exhibit his hero under the new character of a banker, he might fpare his invention every kind of labour, as recent and indubitable facts in our own ifland could furnish incidents, every one at least upon a par with his windmills: yet, Sir, could that most fagacious perfon travel over that land of projects, and converfe with its inhabitants, he would find amongst them erudition and fcience, jurifprudence, theology, hiftory, oratory-in fhort, Sir, every sense but that common fort, upon which all worldly welfare, both public and private, depends, by a juft application of the elements of trade, manufactures, money and credit to rational and practical improvements, a fyftem yet to be learned by ⚫ that scientific, lettered, and eloquent nation. Sir, I will now effay to excite your aftonishment; thefe numerous undertakings, I think justly termed ftupendous, were attempted, nearly at once in the fame period, were carried on at the expence of fums incredible, and yet the projectors had no capital of their own. They had, Sir, I prefume, a fecond fight of immenfe acquifitions, and one would think purfued' their plan by fome fupernatural aid. Sir, what they did will not be credible to pofterity; the universe never furnished a people that ever made fuch a gigantic attempt at the attribute of Omnipotence in creation; abfolutely they created millions of money out of nothing; by a certain alchymy, which they poffeffed, they extracted millions of hard money out of the pliant purfe of their neighbours, and at the fame time ruined themselves. This operation, Sir, is called Paper Circulation.
My honourable hearers are above the want or ufe of fuch an operation; to fuppofe them therefore unacquainted with it, I mean a compliment to them and an apology for myfelf in giving fome brief explanation of it.
A knot of projectors at one end of the island, fend up immeafurable quantities of this enchanted paper to their brethren, their countrymen, projectors like themfelves, fettled at the other end. Thefe, Sir, by their magical tip of the pen, called acceptance and
indorsement, inftantly converted this paper into money to any amount by what is called difcount; the first produce was inftantly abforbed by the projects in hand, a fecond must be provided equal to the first, to difcharge the first fet of bills when due; elfe the fpell would be immediately broken: a fecond fet was fent up and converted into money the fame way, and applied to difcharge the firft. A third the fecond, a fourth the third, and so on.
Children in fport can make a circulation upon water by the caft of a stone, and by that repetition can keep it up for a while; but the child knows, he cannot make it everlafting: this was not known to the man of the North, whofe infatuation adopted the chimera of the South-fea year, that credit was infinite. For example; Sir, one fociety only in the midst of all this defolation, which remains to be defcribed, had drained a certain capital of fix hundred thoufand pounds in hard money, in exchange for a nominal value in paper; it cost them about nine per cent. to raise that fum, in order to be lent out at five: and there were among their managers, who looked upon this, Sir, as profit (nobody will difpute what I fay upon this head) and that the more this paper was extended the better, a bubble, fcarce to be matched in the 1720, of one country, and in defpite of all experience then, or fince, referved to diftinguifh the other in -1772. In short, Sir, fuch was the inexplicable coincidence of circumftances, that what with the intrepid perfeverance of one kingdom, in borrowing, and what with the torpid facility of the other, in lending, a chain of circulation was established, which comprehended both the capitals and moft of the intermediate places; a chain growing in fize weekly and daily, induring for the two whole years 1770 and 1771, down to June 1772, when one link gave way-the charm was inftantly diffolved, leaving behind it confternation in the place of confidence, and imaginary affluence changed to real want and distress; a torrent of ruin from the North, forced a paffage into 'your capital, into the moft fecret depofitories of treafure; a run was felt by your bankers, fucceffive falls of houfes in trade, eminent at Jeaft for the wildness and immenfity of their tranfactions, became the daily, the hourly news; an univerfal diffidence enfued; credit feemed withering to the root; a general ftagnation prevailed in every branch of trade and manufacture; the commercial genius of your island languished in every part. For a fingle manufacture in that part, whence the evil took its rife, to have efcaped, would have been a wonder bordering upon prodigy.'
Mr. Glover is throughout very fevere on Scots projectors, Scots bankers, and Scots fmugglers. and has poffeffed himself of a variety of facts to fupport his reprefentations: but thefe having been laid before parliament, and being long in the detail, we must refer our Readers to the pamphlet, for more particular fatisfaction. Art. 28. A Letter to the Right Honourable Frederick Lord North. Evo. 1 s. Bell, &c. 1774.
An high ftrained panegyric on the conduct of our premier. The Author declaims with rapture on the principal events of Lord North's administration; but no great fatisfaction, we apprehend, can accrue to the reader from fuch promifcuous praise of a statesman; and little credit
credit, therefore, can redound to either the Author or his patron, from this publication.
Art. 29. Principles of Trade. Fredom and Protection are its best Suport: Industry, the only Means to render Manufactures cheap, Of Coins, Exchange, and Bountys; particularly the Bounty on Corn. By a Well-wisher to his King and Country. With an Apendix. Containing Reflections on Gold, Silver, and Paper pafing as Mony. The fecond Edition corected and enlarged. 4to, 2 S. Brotherton and Sewell. 1774.
The first circumstance obfervable in this tract, is an affected uncouth fingularity in fpelling. This, in an individual, appears to be affuming an unwarrantable authority over language, which at leaft required an apology, with the reafons, if the writer really had any to offer, for thus difgufting, if not embarraffing, his readers.
If this gentleman had any fyftem of orthography, fome degree of confiftency would be preferved in it; and at first fight we thought he aimed at accommodating his words to pronunciation, which, however it might debase our language, would be purfuing fome end: but his antipathy to double letters, which is his moft diftinguishing prejudice, is gratified equally in defiance both of orthography and orthoëpy. Thus there being no offenfive letters in the word principles, he condefcends to write it like other people; but finding the word endlefs terminated by two confonants, he clips off one and reduces the word to endles: now by analogy, endles would be pronounced conformable to candles, or to his own acceptation of principles, the firit word in his title; whereas the double s, indicates that the laft fyllable is to have its full found terminating with a sharp or closes. From hence it appears that our Author has an indifputable claim to originality, and is not, as we at first imagined, a ferious dupe to fome of Dean Swift's fportful pranks with the English language.
Paffing from the manner to the matter, it will be fufficient to obferve in general, that the principles here epitomifed are fuch as are already well known and adopted. The Author indeed fubfcribes to an inhuman fophiftical maxim that has become fafhionable of late, which is, that cheapness of provifions caufes the poor to be idle; therefore provifions must be dear to make them induftrious. It is a much clearer maxim in politics, that as the natural confequence of oppreffion is to difcourage population, plenty and cheapnefs of the neceffaries of life will favour an increafe of the people. If the means of living are eafily acquired, the poor will not be frightened from matrimonial connexions; and their industry must keep pace with the increafe of their families. On the other hand, if the natural propenfities of mankind are checked by hardships they fee no profpect of furmounting, their inclinations take a depraved tara, and they are rendered profligate by defpair. But we have already infifted on this point, on former occafions.
It is a leading, and a good principle with our Author, that the fuccefs of trade depends on protection and freedom: that commerce
This error of the Prefs certainly efcaped the Attention of the Writer, who throughout the Tract, conftantly writes wel.
ought to be protected, but left free from reftraint to regulate itself. In his own proper dialect it would stand to this effect. Al I purpos to fugeft in this litle efay is, that les il wil folow from fufering comerce to purju its fre cours, than from abriging its fredem, and puting varios and endles refraints to diffres and criple the endevors of the induftrias.. I ofer the difcufion of thefe maters to lefen the comon prejudices and pafions of mankind, and poses them with a truth I am solicitous they shou'd atend to, which is, that it is uterly impofible for trafic to florifh bapily upon narow principles.
The ftyle of the above imitation is indeed fubfervient to the purpofe of introducing as large a fpecimen of the Author's mode of fpelling, as could be exhibited in a small compafs; and he will not tax us with injuftice, After all, it is mortifying to observe the inconfiftency and frailty of human nature! Here is for instance an honeft well difpofed gentleman, (as we really thought) who argues very properly for preferving a pure ftandard in our coin; but who neverthelefs feels no compunction in filing and clipping our current words in broad day light; and who is openly convicted of adulterating the ftandard of the English tongue. So hard is it to acquire a thorough knowledge of the human heart, and fo little are mankind to be trufted!
The title page of this whimsical tract, declares it to be a fecond edition; but we do not remember to have seen it before, and we 1 hould certainly have recollected it. From the peculiarities in
which the Author indulges himself, we apprehend he is no common
There are many important obfervations in this work, respecting the principles and practices of Despotism, by which nations are brought to flavery and ruin.
This performance is intended as an alarm bell, to roufe and terrify us. The perfon who pulls the rope, tugs it with all his might, and puts himself into a violent heat; like a fiery, ill-broken fteed, who prances, chafes, and frets, without making much progrefs on the road.
In plain language, the Author, though he poffeffes a confiderable fund of knowlege relative to his fubject, writes with too much intemperance, and too little regard to decency, to effect any great good by a publication, the very title-page of which is enough to prejadice all but the loweft of the vulgar against him: and we may, indeed, refer to it, as a fufficient fpecimen of the writer's manner of treating the lord's anointed, and the rulers of the people,
Art. 31. The Liberty of the Prefs confidered; addressed to Lord Quickfand, imploring his Protection. By Magna Charta in Weeds. 8vo. 1.S. Bew. 1774
Warm, rhapfodical declamation in behalf of liberty in general, and the liberty of the prefs in particular. We approve the patriot, but we cannot praife the writer, whofe zeal outftrips his judgment, and fometimes even leaves both fenfe and grammar behind: as where he fays If our prefent governors had any latent designs against the liberty of the prefs, they are in fo much want of money, that there is no danger from them, because they well know the vast revenue arifing from the fale of the news-papers, magazines, and other free thoughts, would be much leffened, &c.'
Poffibly the mistake in the above paffage may have proceeded from fome accident of the prefs; and we the rather fufpect that this is the cafe, because we find no other flip, of equal magnitude, in the pamphlet.
Art. 32. The Report of the Lords Committees, appointed by the Houfe of Lords to inquire into the feveral Proceedings in the Colony of Maffachufett's Bay, in oppofition to the Sovereignty of his Majefty, in his Parliament of Great Britain, over that Province; and alfo what hath paffed in this Houfe relative thereto, from the first Day of January, 1764. 8vo. 2 s. Bingley: 1774
Be it known that we difclaim all critical jurisdiction over the house of Lords collectively; being content with fhewing our power whenever we can catch a ftraggling peer fauntering alone in the fields of literature: where it is as prefumptuous to carry a pen without a qualification, as it might be deemed for a lackland reviewer to carry a gun over any of their terreftrial manors.
Art. 33. The Advantages of an Alliance with the Great Mogul. In which are principally confidered three Points of the highest importance to the British Nation. 1. The immediate Prefervation, and future Profperity of the Eaft India Company. 2. The legal Acquifition of an immenfe Revenue to Great Britain. 3. The Promoting a vaft Increafe in the Exports of British Manufactures. By John Morrifon, Efq; General, and Commander in Chief of the Great Mogul's Forces; Ambaffador Extraordinary, and Plenipotentiary to his Majefty George III. King of Great Britain, France and Ireland, &c. 8vo. I s. 6d. Cadell. 1774.
It is faid that great wit to madnefs is allied. It may be faid that madness feems, in a variety of cafes, variety of cafes, very nearly to border upon wit. There is fomething plaufible and dazzling at first fight, in the reveries of this pompous and opinionated Commander in Chief, and Plenipotentiary; but our men of bufinefs of all parties have in general fmiled at, and neglected them. We think the pamphlet, however, amufing; and should have read it with more pleafure, if it had been intitled the adventures of John Morrifon, Efq; Gene, ral, &c.
The enterprizing fpirit of Mr. Morrifon may be very proper in an officer; at leaft, one who is to advance himself in the Eaft Indies; but his plan of an alliance is laid down on too large a fcale for his political genius. He views things only in their firft and immediate