and immorality in procuring luxuries | place immediately after the termination at the workman's expense, and leaving of the war, without any corresponding him without necessaries. (Loud cheers.) reduction of the burdens of the people. This was, however, the time to show (Hear.) As a proof of this, they found them that the working classes would no that in 1817, the currency was exlonger suffer themselves to be plun- panded, and produced a show of prosdered in this shameful manner. It was perity, for it was by no means solid. In a heart-rending scene to see their wives 1819, Ministers concocted what was and children wanting food and clothing, called Peel's Bill. He (Mr. Baker) when they were told that their produc- would sound the iniquity of that bill in tive powers had increased fifty-fold Peel's ears, until he was made to diswithin the last half century. He be- gorge those vast sums of which he had lieved that one great agent in bringing robbed the working classes. (Loud them to their présent condition, was a cheers.) In 1820 and 1821, they were false system of paper-money, which thrown like black-bats upon their backs, had the effect of enriching the few, but kicking a little, but not having the had produced nothing but wretchedness, power to help themselves. (Laughter discord, and misery among the work-and cheers.) They then saw there was men. (Cheers.) They had borne these no hope until they got a reformed things too long, and it now became House of Commons, and they consethem to speak in a voice of thunder, and quently cried out as one man for that tell their oppressors that they would reform. But how were they answered? bear it no longer, and that unless they By gagging bills, dungeons, executions, soon relieved them, they must and would fines, and imprisonments. Their leaders take the affair into their own hands. were torn from them, and from their (Great applause.) During the long and innocent families, and thrown into pribloody war which this country had son, and in some cases brought to a waged against France, if the working mock trial and convicted by packed classes complained they were told to juries. (Hear, hear, hear.) All this wait patiently until the return of peace, was done in the hope of stifling their and then all would be well. When cry for reform, and of convincing peace came, however, they found none them their bellies were full when they of the blessings which ought to be at- were empty. (Laughter and cheers.) tendant upon it; but instead, their con- Lord Liverpool said there were none dition had been getting worse ever asked for reform but those whom Burke since. The fact was, they were reaping called the "swinish multitude," and the bitter fruits of an unjust and unholy boasted that the middle classes were war. At the conclusion of that war, yet with the Government. (Hear.) the monopoly of trade which we had This was true, the middle classes cruelly enjoyed with foreign countries was abandoned the workmen to their unbroken up; many of them manufac- happy fate; but at length the distress tured the articles for themselves, and bore down upon the middle classes, and were enabled to meet us in other mar- then the county meetings began to be kets and undersell us, because we were living at war prices. (Hear, hear.) The consequence was, many thousands of us were dismissed from our workshops, and sent to work on the highways at a shilling a-day. We were then told it was the sudden transition from war to peace, and that things would quickly adjust themselves. (Laughter.) Now his opinion was, that a great portion of their distress was to be ascribed to the contraction of the currency, which took held; and at one in Berkshire in particular, the speakers told the Government that, unless their grievances were speedily redressed, they would starve their rulers into submission by abstaining from the use of excisable articles. (Cheers.) Thus, Liverpool's sophistry was blown into air at once, and finding that something must be done to ward off reform, they pushed out paper again in 1823, which again produced that false show of prosperity during that and the dom, previous to the ensuing election; and although they had been deprived of votes themselves, they might to a considerable extent influence those who had votes. (Loud cheers.) They had got an enormous debt entailed upon them, which they had no voice in creating; the burden of that debt had been doubled by their changing the currency, and it was the best and most honest way to cut down the debt one half at once. Unless this was done, they need following year. The workmen then but many millions. This cry ought began to turn out for prices; but they to respond throughout the entire kinghad scarcely got a little higher wages to assist in meeting the increased price of the necessaries of life, than they discovered that they were on a wrong basis, of which the awful crisis of 1826 lamentably convinced them. If the infamous war had not called forth Pitt's paper-money, they would now be in the enjoyment of the proceeds of their industry, instead of being compelled to meet here, to refute the false statements of a newspaper writer. (Cheers.) They had borne all sorts of misery, and distress not look for bread, or beef, or beer. and contumely in addition, with the (Laughter and applause.) It was true, most exemplary patience and resigna- there were certain theorists who maintion, because the middle classes had tained that an issue of paper-money been made to feel the weight of the would bring about the same result. burden, and had at last joined them in This he contended, however, was false; a cry for reform. They began to find it would leave open every source of their property being blown into air, and corruption as before, and working men the Exchequer mop sucking it all up, would not be benefited. (Hear, hear.) (laughter,) and then they stepped forward Unless Cobbett's plan was adopted, and demanded reform. It was stated there would be no peace for the country; that forty thousand pounds were col- and he conceived it was a more honourlected in the parish of Birmingham able way of setting the thing to rights. alone for the relief of the poor. It was (Cheers.) He would conclude by movtrue that sum was levied under the ing the following resolution :-"That name of poor-rates; but he should like" for a long time past the workingto know how much was left to be divided" classes of this town have been in the among the poor, when the thieved and" most distressed and miserable condithief-catchers were provided for out of “tion, arising from reduced wages and it? (Laughter, and cheers.) The sum" loss of employment; and that at prewhich was left allowed about half-a-" sent great numbers cannot obtain even crown a head per week, for the out-poor, "the coarsest necessaries of life ;-that and what was this miserable pittance to" this distress is daily increasing, and, do for them? (Hear, hear.) Then there" unless some change speedily take were the revenues of Mother Church, place, threatens the most awful conamounting to ten millions annually;" sequences." more than the revenues of the whole clergy on the face of the earth besides. (Groans.) This must be taken from them, or applied to the purposes for which it was originally intended. (Great applause.) By the false paper-money system, during the war the clergy had vastly increased their incomes, and an enormous debt had been created by the "That, in the opinion of this meetboroughmongers, which, but for paper-ing, a system of high prices, produced by paper-money, is injurious to the interests of the working classes, and to our foreign trade." This speaker proceeded to show, from various documents, that the position laid down in the money, never could have existed. (Hear, hear.) He contended there was no other substantial remedy but a very large reduction of taxation; not a thrifty reduction of a few hundred thousands, 66 The resolution was seconded by Mr. Parkin, and passed unanimously, with three times three cheers for the mover. Some resolutions in favour of universal suffrage, vote by ballot, &c. &c., were then agreed to. Mr. Bourne moved the following resolution : Rent Wages, per week Leaves tended that wages never rose in propor- 4 O £1 3 10 1 6 0 . 0 2 1/ From this document it appeared, that whilst prices had nearly doubled in consequence of paper-money, wages were not quite 50 per cent. higher. The truth of the statement might be tested by any one who would take the trouble to look at the prices and wages of the two years. (Hear, hear, and cheers.) Mr. Baker seconded the resolution. Experience told him it was true. They could not have high prices without paper-money; and they would find that the necessaries of life got up long be fore the workman's wages. (Hear.) Before the rates of wages could be raised, they must wait till all the hands were brought into full work, and then they d. would have in most cases to turn out, and get into serious quarrels with their employers, before they could obtain an advance. (Hear, hear! and applause.) Again, if prices were raised, the Government had a pretext for high taxes, and this enhanced further the necessaries of life, and made it more difficult for a man to live. They must excuse him from saying any more, for he felt quite exhausted; the fact was, he wanted some of the beef, and bread, and beer, of which they had heard so much. (Laughter and cheers.) 10 0 1 0 6 20 0 10 0 7 1 6 12 6 5 5 S. d. 6 4 5 1 1 14 7 The CHAIRMAN then put the resolu→ tion, which was carried with about twenty dissentient voices. Three hearty cheers were then given for Messrs. Wheatcroft and Co., for the gratuitous use of the wagon which formed the hustings; after which thanks were voted to the Chairman, and the meeting, which had been conducted with the greatest order, quietly broke up.-Birmingham Journal. PAPER AGAINST GOLD. THIS is a book price five shillings. Every young man in the kingdom ought to read it at this time. I cannot get it into their hands in any other way than that of republishing it here; and I shall, therefore, go on, as I have room, until I have republished the whole of it in this manner. I beg young men to read it with great attention; and if they do, paper-money makers will never deceive them again. LETTER I. The result of the committee's in quiries is, in substance, this; that the high price of gold is occasioned by the low value of the paper-money; that the low value of the paper-money has been occasioned (as you know the low value of apples is) by the great abundance of GENTLEMEN,-During the last ses- it; that the only way to lower the price sion of Parliament, a committee, that of the gold is to raise the value of the is to say, ten or twelve members of the paper-money; and that the only way to House of Commons, were appointed to raise the value of the paper-money is to inquire into the cause of the high price make the quantity of it less than it now of gold bullion, that is, gold not coined; is. Thus far, as you will clearly see, and to take into consideration the state there was no conjuration required. The of the circulating medium, or money, of fact is, that, not only do these proposithis country. This committee have tions contain well-known and almost made a report, as they call it; but it is self-evident truths, but these truths a great book that they have written, have, during the last two or three and have had printed; a book much years, and especially during the last larger than the whole of the New Tes- year, been so frequently stated in print, tament. Of this report I intend to enter that it was next to impossible that any into an examination; and, as you have person in England, able to read, should recently felt, and are still feeling, some have been unacquainted with them. of the effects of paper-money, I think it But, having arrived at the conclusion may not be amiss, if, upon this occa- that, in order to raise the value of the sion, I address myself to you. I have paper-money, its quantity must be lessintroduced myself to you without any ened; having come to this point, the ceremony; but, before we part, we rest of the way was more difficult; for shall become well acquainted; and I the next object was, to point out the make no doubt, that you will under-means of lessening the quantity of the stand the distinction between paper-paper-money, and this is an object money and gold-money much too well which, in my opinion, will never be for it to be in the power of any one effected, unless those means include the ever again to deceive you; which un-destruction of the whole mass. derstanding will, in the times now fast approaching, be of great utility to all those amongst you who may have the means of laying up money, however small the quantity may be. The committee above-mentioned, which, for brevity's sake, I call the bullion committee, sent for several persons, whom they examined as witnesses, touching the matter in question. There was Sir FRANCIS BARING, for instance, the great loan-maker, and GOLDS MIDT, the rich Jew, whose name you so often Not so, however, think the gentlemen of the bullion committee. They think, or, at least, they evidently wish to make others think, that it is possible to lessen the quantity of the paper-money, and to cause guineas to come back again and to pass from hand to hand as in former times; they would fain have us believe, that this can be done without the total destruction of the paper-money; and, indeed, they have actually recommended to the House of Commons to pass a law to cause the Bank in Threadneedle-street, London, commonly called the Bank of necessary for me to go back into the England, to pay its notes in real money, history of the paper-money; because, at the END OF TWO YEARS from without doing this, I shall be talking this time. Two years is a pretty good to you of things of which you will have lease for people to have of this sort. no clear notion, and the reasonings reThis Bank promises to pay on demand. lating to which you will of course not at It does this upon the face of every one all understand. It is a great misfortune of its notes; and, therefore, as a remedy that any portion of your time should be for the evil of the want of gold, to pro- spent in reading or thinking about matpose, that this Bank should begin to pay ters of this kind; but, such is our prein two years' time, is something which sent situation in this country, that every I think would not have been offered to man who has a family to preserve from the public in any age but this, and, even want, ought to endeavour to make himin this age, to any public except the self acquainted with the nature, and public in this country. The notes of with the probable consequences, of the the Bank of England bear, upon the face paper-money now afloat. of them, a promise that the bankers, or Money is the representative, or the Bank Company, who issue the notes, token of property, or things of value. will pay the notes upon demand. Now The money, while used as money, is of what do we mean by paying a note? no other use; and, therefore, a bit of Certainly we do not mean the giving of one note for another note. Yet, this is the sort of payment the people get at the Bank of England: and this sort of payment the bullion committee does not purpose even to begin to put an end to in less than two years from this time. Gentlemen, we, the people of this country, have been persuaded to believe many things. We have been persuaded to believe ourselves to be "the most thinking people in Europe;" but to what purpose do men think, unless they arrive at useful knowledge by thinking? To what purpose do men think, if they are, after all their thinking, to be persuaded, that a bank, which has not paid its promissory notes in gold for thirteen years and a half, will be able to pay them in gold at the end of fifteen years and a half, the quantity of the notes having gone on regularly increasing? If men are to be persuaded to believe this, to what purpose do they think? But, before I proceed any further in my remarks upon the report of the bullion committee; before I proceed to lay before you the exposures now made by the labours of the committee; the facts now become evident through this channel; the confessions now made by these members of the House of Commons: before I proceed to lay these before you, and to remark upon the remedies proposed by the committee, it will be lead or of wood, or of leather, would be as good as gold or silver, to be used as money. But, if these materials, which are everywhere found in such abundance, were to be used as money, there would be so much money made that there would be no end to it; and, besides, the money made in one country would, however there enforced by law, have no value in any other country. For these reasons gold and silver, which are amongst the most scarce of things, have been, by all the nations that we know anything of, used as money. While the money of any country consists of nothing but these scarce metals; while it consists of nothing but gold and silver, there is no fear of its becoming too abundant; but, if the money of a country be made of lead, tin, wood, leather, or paper; and if any one can make it who may choose to make it, there needs no extraordinary wisdom to foresee that there will be a great abundance of this sort of money, and that the gold and silver money, being in fact no longer of any use in such a state of things, will go either into the hoards of the prudent, or into the bags of those who have the means of sending or carrying them to those foreign countries where they are wanted, and where they will bring their value. That a state of things like that here spoken of does now exist in this coun |