52 



standard of low money prices, in regard to agricuUural 

 productions. 



The able author of the remarks upon the ** Further 

 Observations upon the practicability and expediency of 

 liquidating the Public Debt, &c." in the Monthly 

 Edinburgh Review, No. XVIII.' insists much upon 

 the difficulty of carrying the proposed plan into effect. 



Sensible of the state of the country, this writer appears 

 justly to apprehend, that any considerable additional im- 

 post, in what form soever it might be attempted, could not 

 be paid ; and — denying that the proposer of the plan had 

 succeeded in showing that extensive relief from duties, 

 or from duties and taxes, would precede any actual levy 

 in respect of the liquidation of the Public Debt — objects 

 that the plan is impracticable because the contribution to 

 be required could not be paid. 



It is admitted to be essential to the practicability of the 

 plan, that extensive relief from public burthens should 

 precede any actual levy ; and explanation is due, not only 

 on account of the importance of this point in its bearing 

 upon the question, but is also due to the respectable quar- 

 ter in which the objection originates. 



The dividends on stock are payable on the 5th of January, 

 5th of April, 5th of July, and lOth of October, and with 

 the interest on the unfunded debt amount to S2 millions 

 annually. 



Jt will be supposed that the liquidation of the Public 

 Debt, upon the outline of the plan which has been sug- 

 gested, had been adopted as a legislative measure, to take 

 effect from the 5th of January, 1822, and that the divi- 



• Now published Quarterly, and designated the New Edin- 

 burgh lleview. 



