ade not practicable, 450-real cause of that blockade, 452-its effects on the European Continent, 454-on England, 456— saying of Prince Eugene, 457-M. Labouchere, 458-foreign exchange against Britain, 459—Mr. Huskissons pamphlet, 459 -Report of the Bullion Committee, June 1810, 460-Mint and market price of gold in England, 461-low rate of foreign ex- change, 461-high price of gold, 461-in England, 461-its price in Continental Europe, 462-no scarcity of gold in Eng- land, 463-intent of coinage, 464-causes of its diminished value, 465---and of low foreign exchange, 466--- par of exchange, com- puted and real, 467---balance of trade in favor of England, 468 her imports and exports with Continental Europe, 470--- their course, as influencing exchange, 471--- which regulated by the currency of a country, 472---and always lowered by excess of pa- per currency, 473---in United States, 473--- France, Russia, &c. 474---in Scotland and England, 474---and Ireland, 475---how ex- cess of currency prevented, 476---excess of Bank of England discounts, 477---depreciation of Bank of England paper, 478--- its causes and remedy, 480---London payments, 481---no want of solvency in the Bank, 483---Mr. Huskisson's statement, 484--- balance of trade what, 485---how trade enriches a country, 486--- effect of French Continental Blockade on England, 488--- causes of Britain's mercantile superiority, 489---cause of foreing exchange being against England, 490---definition of money, 491---circulating credit, 491---paper-money, 492-- price, 492--- depreciation in Bank of England paper, 493---causes of excess in currency, 494---real par of exchange, 496---how regulated, 497--- transmission of bullion from debtor to creditor country rare, 497---why, 498---exchange between Ireland and England, 498--- computed par of exchange, 499---how affected by variations in currency, 500---the measure of Bank of England paper deprecia- tion, 501---dilemma of non-depreciation men, 502-English expor- table and non-exportable gold, 503-why gold dear in England, 503-excessive issues of Bank of England paper, 504-paper is- sues good, 505-Bank solvent, 506---paper-money, 507---rare necessity for Bank-restriction, 508---causes of recent mercantile failures in Britain, 509---real resources of England, 512---In- come of Consolidated fund to 10th October 1810, 513--increase in London, Leeds, &c. 514---aid of government to the merchants in 1793-1810, 515---effects of fighting on France and England, 516---characteristic of the English, 517---invasion, 517---how to conquer England, 518---Mr. Walsh, 518---effects of Scottish and Irish union on England, 519---condition of the world under uni- versal dominion of Bonaparte, 520---duty of Britain to uphold her maritime rights, 522---and prosecute the war, 523---Mr. Burke, 524---a living writer, 525---declaration of British govern- OF THE BRITISH EMPIRE, &c. INTRODUCTION. IN my "Hints on the National Bankruptcy of Britain, and on her Resources to maintain the present contest with France," published in 1809, I inserted all the official tables and public documents which were deemed necessary to establish the truth and soundness of the positions advanced in that work. Now that a second impression is called for, I am induced by the advice of friends whose good opinion gave birth to the first, to leave out the public documents which it contains, the facts being considered as sufficiently established; to shorten its details; to concentrate its results; to simplify its arrangement; to add some very material and important facts, respecting the present state of Europe; to substitute in place of its citations, mere references to the authors from whom they are taken; to abandon all its local and temporary politics; to reduce its bulk; and to alter its title, so as more immediately to comport with these modifications. In compliance with their suggestions I offer to the public my work, shorn indeed of its size and proportions, but, as I flatter myself, much improved both in the value and in the disposition of its materials. It is not, however, without diffidence that I lay before the reader views of the past and present state of continental Europe, widely different from the conclusions on the same subject drawn by Mr. Walsh in his admirable "Letter on the Genius and Disposition of the French Government, including a view of the taxation of the French Empire:"-It would be presumptuous in one living at such a distance from the awful scene of action, to enter the lists of political controversy with a gentleman, who in addition to his own native talents and extensive acquirements, has enjoyed the privilege of a recent visit to France and Britain, and an intimacy with some of the most distinguished statesmen in both countries. Nor do I intend to throw down the gauntlet to Mr. Walsh. To admire the many sound political views, the important information, the manly sentiments and splendid eloquence of the " Letter on the Genius and Disposition of the French Government,” is less a compliment to Mr. Walsh, than an act of selfrespect; I shall therefore, with all deference, state in a concise and simple manner, the facts and reasons which lead me to dissent from the opinion of those who confidently predict the final and the permanent subjugation of all continental Europe to the power and the dominion of France. In doing this, I shall abstain from mingling in any controverted discussion, respecting the clashing and discordant sentiments of the two great contending political parties, who, both in these United States and in Britain, divide, agitate, and govern their respective countries. The events, military and civil, which have taken place in Europe, during the last year, and since the first appearance of this work, have only served to strengthen its positions respecting the probable issue of the present conflict. Take the political picture of Europe, now at the close of the year 1810, such as the enemies of Britain's prosperity and honor delight to portray, and to contemplate as the presage of her speedy erasure from the list of independent nations. See France, one great encampment, pouring forth her bands, always girded for the fight, and goaded onward by the relentless ambition of the greatest military chieftain the world ever saw;-Holland an nexed as a fief to France;-the throne of Sweden descending in reversion to a satellite of Buonaparte; -Denmark trembling on the verge of political annihilation;-Switzerland chain-bolted and fettered to the earth;—Italy bending under the weight of the iron crown of Lombardy;-Prussia reeling for a little moment on the scanty remnant of a ruined monarchy, and soon to be seen no more; the petty lords and kinglings of Germany holding a degraded and precarious seat at the nod of their conqueror;— Austria crouching at the feet of her keeper;-Russia, barbarous, unwieldy, weak, purchasing a shortlived existence by the most abject compliances, the most unworthy submission;-Spain and Portugal wrestling in agony with the master of the world, for a frail, short, nominal life;-Britain, alone, dismay ed, and spiritless, feebly protracting an ineffectual resistance to the huge Liboya of France, that even now encircles her in the folds of death. This picture of Europe is somewhat overcharged; the colors are too deep and deadly to proceed from the pencil of truth, yet is the real condition of that most interesting portion of the world sufficiently dark and disastrous. But dark and disastrous as it is, there is yet to be discerned in its present condition, a single ray of hope, pale-glimmering in the horizon;that single ray of hope, which I trust, will gradually overspread the heavens, and dissipate the darkness of that dominion which now envelops the myriads of once civilized Europe. I shall endeavor to show that the final destruction of the present over-grown power of France is fairly and reasonably to be expected, First, from the nature of the French political and military institutions; Secondly, from the resistance of the people of continental Europe; And thirdly, from the resources of the British Empire. FIRST DIVISION. I AM almost deterred from offering any opinion as to the causes of the French Revolution by the recollection of an unlucky anecdote told of a certain garrulous lawyer in France, who began one of his most tedious bar-speeches thus-" There was a time when Adam," the judges who had before frequently enjoyed the benefit of his prolixity, unanimously besought him to omit all account of the creation of the world for the present; and begin his speech in favor of his client, at least with the commencement of the universal deluge. The public, both in America and Europe, have been long since wearied by dissertations on the causes which led to the Revolution in France; but the causes hitherto assigned by some of the greatest statesmen in Europe, seem to be only secondary; and themselves to have been produced by one great, primary, universal cause, which has, so far as I know, been entirely overlooked. I do however offer my speculations with the most unfeigned diffidence, seeing that they do not accord with the opinions expressed on the same subject by some men of the most exalted talents and the most comprehensive information. Whoever wishes to learn the opinions on the causes and effects of the French Revolution entertained by that powerful band of Statesmen, who now, in 1810, lead the British Opposition, will do well to consult and to study the very able and masterly disquisitions contained in the following portions of the Edinburgh Review. Vol. 1. pp. 6-18. Vol. 2. pp. 8―30. Vol. 4. pp. 48-62. Vol. 5. pp. 452-468. Vol. 6. pp. |