70 



mciit, niiglit lie jucvcntcd. [" Further Observations," Appendix 

 E. p. 75] 



That, upon comparing, in the event contemplated, the prokdblc 

 rate of rent from land and dwelling-houses, the probable rate of 

 interest of money, and the presumed rate of public, official and sti- 

 pendiary income, with the expected and consequent advance in the 

 value of money ; the present proprietors of lands, houses, and go- 

 vernment stock, and all persons receiving public income and pay> 

 vFould experience a clear improvement, in respect of income, consider- 

 ed with reference to British expenditure, varying in the respective 

 classes, between thirteen and seventy per cent. And in particular, 

 that in respect of income from land, an improvement might be expected 

 in the proportion uhich 2000/. bears to 1200/. per annum. [" Further 

 Observations," y\ddenda, pp. 128, 129.] 



That the anticipated change in the effective value of money, a$ 

 respects the reduction of money prices,^ does not lead to the apprehen- 

 sion of any consequences prejudicial to the holders of agricultural 

 stock, or of goods in stork ; because this change would ensue, in a 

 great degree, from the remission of duties; the immediate effect of 

 which, upon money prices, would admit of remedy to consider- 

 able extent, by the restitution of duty to the merchant and dealer, 

 on the stock on hand : and also, because the further decline of 

 money prices would, in some degree, be checked in its progress by 

 countervailing cause.-, and might be graduated by legislative 

 means, so as to sustain the price, particularly of agricultural stock, 

 from time to time, until successive supplies, at diminished cost, 

 should enable the grower or dealer to vend at lower rates of price, 

 without loss or prejudice. 



That, by the means proposed, the Farmer would be placed in a 

 condition to support the Peasant, to maintain his own family in 

 the state of comfort suited to his station in society, and to make a 

 proper return of rent to the proprietor of the soil. 



That, by the mean? jiroposed, also, the interests of the merchant, 

 manufacturer and trader, would be essentially promoted and 

 advanced, particularly by the repression of smuggling, and by the 



"* Aconsidcrable reduction in money prices, has been experienced 

 since the first publication of tliis paper, without the advantage of 

 ^precedent reduction of duties. 



