3 corn cannot be had at the same moment-if 'the former be insisted on, the latter must be relinquished under the present system of providing for pauperism; but by giving constant profitable employment at home, both may be obtained. This, it is probable, would beneficially alter the course of exchange, more immediately and more certainly than any compulsion on the Bank to pay in specie. The increased importation of corn has been adduced as a reason for withholding encouragement to the agriculturalist, and it has also been urged in argument to show, that the improvements in agriculture have been of little avail-without reflecting that the population has increased in a very astonishing degree, and that, without an improved system of agriculture, the additional numbers could not have been fed. The application of productive labor is the grand lever by which agriculture is promoted; and when it is considered that there are many thousand acres cultivated at an annual expense of 50%., 1007., and even 2001. per acre; and that there are millions of acres on which 21. are not annually expended, but which, by a due application of labor, might, were the cultivation extended to 107., amply repay the extra expense; the question naturally presents itself, would it not be the best national policy, to appropriate such lands to a more abundant produce of grain, in like manner as an extensive farm, if managed under the spade, instead of the plough, repays the expense of manual labor, equally well as under other modes of cultivation ? Were the whole of England managed in a similar manner, would it not be most fortunate for the kingdom? thrice the quantity of corn acquired under the present system might possibly then be raised. What can offer so strong a temptation for a man to raise a large quantity of corn, as the assurance of his having the preference of markets up to a given standard? Were the import price of wheat raised to 5l. per quarter, and other grain in proportion, the home market would, most likely, be well supplied, and that, probably, on the average, at a less price, from the promise of gain, although the actual prices ess might not realise that expectation. At any rate, the unemployed husbandman would become a productive laborer, so far as to supply his own wants, and by relieving the poor's rates, enable the farmer to bring his corn to market on more reasonable terms, although the prospect of high prices might have been really his excitement to additional exertion. Apprehensions have been entertained that in the event of the import price being raised to 51. per quarter on wheat, the farmer would monopolise the grain-than which nothing can be more absurd-a combination of all the British agriculturalists! a mar vellous union indeed-provided they had the means of carrying their intentions into effect; but in the aggregate they are too poor, many being incapable of discharging their rent with punctuality, much less of entering into a long and doubtful speculation. If speculation be to be dreaded, how much more probably is it to be feared from the merchant? He never excites astonishment though he import twenty thousand quarters, and hold them on hand a year or more; now if the prime cost and expenses only reached three pounds per quarter, the investment would amount to sixty thousand pounds. To carry on an equally extensive rural speculation it would require twenty farmers, each growing one thousand quarters of wheat or if each acre produced three quarters, three hundred and sixty-three acres must be applied by each to the growth of that grain; but as wheat can only grow every fourth or fifth. year, it would require 1,332 acres of arable land to be farmed by each. Thus then it would demand twenty persons farming 26,640 acres, and those all under the plough, to accomplish that which the merchant is enabled to do by a single stroke of his pen. A short time since, two poor laborers, E. and F. without shoes and stockings, in the inclement season, were boiling turnips under a hedge, to supply the urgent call of hunger, without either meat, bread, or even a little salt. They were desirous of finding work to earn a daily subsistence. Would not the information that C. and D. were exerting their talents to bring corn from other countries at a cheaper rate have been an insult to their misery, and might they not in reason ask, in what manner can corn be procured so cheap as by employing us starving mortals to produce our own food? The manufacturing system is neither more nor less than making the work of two men supply the necessities of four-if the other two be not starved, they are, under the most favorable circumstances, kept in a starving condition. Persons there are who may attribute the foregoing fact to a redundant population; but those who consider the subject deeply and impartially will treat the idea of a country like England, having a redundant population, with contempt. There never can be a redundant population in any country, where there are lands still capable of improvement, and equal to the support of the extra numbers. In China, where even the barges on the rivers are made productive, by placing in them boxes of vegetables, there may be an excess of human souls; but it never can happen where an acre of ground lies unappropriated or unimproved, more especially where there are millions of acres, some not half productive, and others, for want of man's labor, producing nothing, or even worse than nothing-bogs, breeding pestilence. It is the misapplication of man's powers, or the not bringing, those powers into proper action, which suggests the idea of an excess of population; and we satisfy our minds and dismiss the consideration in that hasty manner, rather than look the incon venience boldly in the face, and meet false principles and popular clamor manfully and with effect. The defect lies wholly in the want of incentive or of remuneration for the expense bestowed. Why are the Dutchman and the Polander fed at the expense of the English freeman-if freeman he can be considered in such an abject condition ? That horrific bugbear, a national debt, which has so long alarmed the whole nation, is daily lessening in terror, and its weight must diminish in an increased ratio, from two different causes, the one, an accumulation of the sinking fund, the other, an augmen tation of the means to support it. Nominal wealth is increasing almost hourly; the rise in the funds itself feeds the revenue, and swells the amount of taxes; the probates of wills and amount of legacies-bridge and canal shares-roads-tram-roads-houses with every other species of property improved, require ad valorem stamp duties on assignment, auction duty, &c. all contributing to the support of the national debt. The danger attending a national debt is more to be apprehended in its progress, than when it becomes stationary, or is about to be diminished; for, in the first instance, the danger takes place at a moment when the wants of government are pressing and imperative, and it may happen that, from the necessity of urging the political wheel with great velocity, it may acquire too rapid a motion and take fire; or, to drop the metaphor, the productive labor may be inadequate to the support of the unproductive; and while the government is calling for supplies and taxes, the people may become clamorous, and rise upon each other to the disorganisation of the state; but this can never occur when the nation reposes in peace, and when industry takes its course uninterruptedly, thus reinstating confidence, and causing the increase of the revenue, and the comfort of the people. Surely there can be very few who will not allow that the facts are in favor of the argument, for all must admit that, in the aggregate, the people are better fed, better clothed, and better housed, than at any former period, or, comparatively, than in any other country, although bread in some states may be at half the price it is in England. Is this prosperity? or is it misery? If it be not owing to war and credit, why are we better off than at any former period, or than the inhabitants of any other country in these three grand sources of comfort? Candor will surely assent to the position! Thus then lies extended and exposed the enormous imaginary serpent-the monster of the deep, our national debt-which, by terrifying mankind, called forth all our energies; which first raised its immense bulk on the American shores, and filled the world with wonder that such a monster could exist at all; but more astonished were the civilised nations as to what it could feed on, not reflecting that it preyed on itself was its own support, and must in time become perfectly inoffensive. Suffer it but, for the present, to remain tranquil, floating undisturbed on the waters and it may hereafter without danger be attacked; and, if judiciously cut up, may serve to enlighten the darkness of mankind. I have the honor to be, |