356 Political Affairs in April. 



Rood hills arc iliscouiiJcd at four ami four per cent 



three and a-lialfpcr cent., instead of live 

 and a premium, as was usual during 

 the late wars. The Bank of England, 

 iinaljic to employ its capital in discount- 

 ing at four per cent, lias fallen upon tiie 

 expedient of lending on mortgage ; 

 lioncc capital will find its way in a direct 

 manner among the agriculturists. The 

 results are .speculations and projects 

 Lcyond our means of enumeration. 

 Among others is one of a Mexican 

 Mining Company, and various for new 

 canals, bridges, harbours, &c. ; even 

 literature and science come in for their 

 share, and new institutions are an- 

 nounced everywhere. 



The following are some of the new 

 sclM^incs lately brought forward in Lon- 

 don, for the investment of capital, with 

 the nominal amount of each : — Alliance 

 Insurance Company, 5,000,000/. ; the 

 Palladium ditto, 2,000,000/. ; the E<|ui- 

 tablc Loan Eank, 2,000,000/. ; the Irish 

 ditto, 1,000,000/.; the British Annuity 

 Onice, 3,006,000/. ; the Metropolitan 

 Investment Bank, 1,000,000/.; the 

 Thames and Isis Navigation Company, 

 120,000/. ; Table-ale and Ale Brewery, 

 200,000/. 



Alter all, however, there is more 

 glare than solidity in this condition ; for 

 tiic mass of artizans, manufacturers, 

 and labourers, have not recovered the 

 wages which they used to obtain ; and, 

 though the general imi)rovemcnt must 

 hi due time reach them, yet having no 

 reserved slofk, their .suUerings in the 

 interim are intense. Even the rise in 

 the value of agricultural produce, so 

 beneficial to that interest, operates 

 grievously on the lower classes, and, 

 without a corresponding advance of 

 wages, cruelly abridges their comforts. 



'J'he weak and wicked attempt to re- 

 peal the Usury Laws, and enable the 

 Hebrew and Christian Jews to trample 

 on our industry and liberties, has hap- 

 pily been defeated for this session, and 

 we trust FOR evek. The paper of our 

 correspondent Common Sense contri- 

 buted to the result, and W'; should hope 

 that its general perusal will awaken the 

 Biilisli lion on the subject. It is now 

 highly proper for the people to petition 

 for a reduction of legal interest from 

 five to four per cent. Such reduction 

 would still further stimulate all industry 

 and enterprise, and in twenty years 

 would advance the country a full cen- 

 tury. While atinlal is artiGcially in- 

 «r( ased ten-Cold, it is monstrous to 

 permit it to tax industry ^t more than 



[May 1, 



Its relations in this re- 

 spect arc, in 1824, compared with 1680, 

 as fifty to six, or more than eight to one; 

 and, if the legal rate were reduced to 

 four per cent, the |)roporiion against the 

 people and in favour of the Jews, would 

 still be as seven to one against the pre- 

 sent generation. Borrowing by aimuily 

 should be invalid, unless announced in 

 the London Gazette; a system which, in 

 improper cases, would operate as a 

 prohibition, inasmuch as the open re- 

 gister is not sufficient. 



The grant of half a million for the 

 erection of new churches has been car- 

 ried in the House of Commons, by a 

 niajorily of 148 to 59. 



There has been presented to the 

 House of Commons, the Filteentii Report 

 of " the Commissioners of Inquiry into 

 the existing regulations for the conduct 

 of business in every department of Cus- 

 toms, and of the Export and Import 

 dcjiartmeiits of the Excise, with a view 

 to suggest such alterations therein as 

 may be considered necessary to facili- 

 tate the dispatch of business, to allord 

 accommodation to trade, and to secure 

 and im|novc the Kcveime." This Ko. 

 port recommends the separation of Cus- 

 toms and Excise duties, and placiiig 

 the whole of the Import and Export 

 duties under one department. The 

 adoption of (his important measure will 

 not only allord great facility to the dis- 

 patch of business, by j)utting an end to 

 the trouble, the exptjnso, the delay, and 

 the injury, resulting from double entries, 

 and the double set of officers examining 

 exports and imports, but must also pror 

 duce a vast saving of expense in the 

 collection of the Revenue. If each de- 

 part ment have to perform what may 

 be termed its natural duties, the Excise 

 would bo limited to the performance of 

 inland duty, while the Customs will 

 liave the exclusive guardianship and 

 control of the exports and imports. The 

 benefits that would result to the com- 

 mercial world from the accomplishment 

 of such reforms, are incalculable. 



A new book of military instructions 

 has just been published by command of 

 his Majesty, and under the revision of 

 Major-general Sir Henry Torrens, of 

 which every officer in the army and 

 marines is required to supply himself 

 with a copy. The object is to establish 

 one uniform system of field exercise and 

 movement throughout the land forces. 

 'I'hc new system is founded on (hat 

 which was intrtHhieed abon(.,tiiirly- three' 

 years ago, by the late Gtucfal Sir David 

 Dundas, 



