638 
thofe focieties, formed by the poor them- 
felves, which, by relieving their fick mem- 
bers, fave them from the neceffity.of en- 
‘tering the walls of a poor-houfe: he no- 
tices the imperfections which generally 
prevail in thefe affociations, and recom- 
amends an Ixfurance Office, or National In- 
fittution, from which the induftrious clafles 
might, on juft and equitable terms, fecure 
a provifion againft the various exigencies 
to which they are expofed. Sir Frederic 
ftates the plan of a benefit fociety, which 
is efablifhed on a very fiinple principle, in 
the county of Ayr in Scotland: it confifls 
of about fifty members, and is called the 
Penny or Halfpenny Society. It has no 
funds which can be embezz'ed ; but, when 
a brother is confined to his bed by fick- 
nefs, every member, pays him a penny 
weekly ; and if he fhould be able to go 
out, but not to work, a half-penny.” 
Weare furprifed at the refult of the cal- 
culation which Sir Frederic has given us 
of the number of thefe friendly focieties 
in England and Wales: he reckons the 
aggregate number of them to be 7200, 
which, on an average of 90 members for 
each club, makes a total of 648,090 per- 
fons, thus united for the relief of each 
other! 
Sir Frederic has favoured the public 
with “ Eight Letters on the Peace, and 
on the Commerce and Manufactures of 
Great Britain,’ in which he oppofes thofe 
gloomy reprefentations which fome per- 
dons have thought fit to {ketch of our fitu- 
ation, in confequence of the peace. This 
fubjeét has been fo elaborately difcuffed 
3n both Houfes of Parliament, and the 
fenfe of the nation is fo nearly unanimous 
on the fubjeét, that we fhall not fuffer it 
to occupy our pages on the prefent occa- 
fion, but content ourfelves with the fimple 
enumeration of avery few out of the great 
number of shilling and eighteen-penny 
pamphlets, in which the merits of the de- 
finitive treaty have been canvafled. “A 
Graduate of the Univerfity of Cambridge, 
has delivered “a Word to the Alarmiits 
on the Peace,” which he vindicates in a 
very able and fatisfaftory manner. Mr. 
Flower’s “© Reflections on the Prelimina- 
ries, &c.”’ are written with his wonted vi- 
gour and ftyle, and acutenefs of remark: 
two tracts, one containing “ Letters to 
the Right Hon. Lord Hawkefbury, and 
the other to Mr. Addington, by PETER 
PORCUPINE,” are alfo written with his 
wonted malignity of temper, and info- 
lence of addrefs. 
«¢ An Enquiry into the Nature and Ef- 
“fets of the Paper Credit of G.eat Bri- 
Retrofpek of Domeftic Literature.—Political Economy, &e. 
tain, by Henry THoRnTON, Efq. M.P.” 
This is a very elaborate and very well 
conducted detence of paper credit: Mr. 
Thornton is mafter of his fubje&t, difplays 
gteat acutene(s in the difcuffion of it, and 
has endeavoured to lay down {uch general 
principles concerning it, as may do away 
the unfavourable impreffions which are 
fo general againft the banking fyftem. 
Although Mr. Thornton. has by no means 
altered our opinion on the fubje&t, we are 
happy to acknowledge the great merits of 
his work, and the importance of various 
confiderations which he has fuggefted. 
In the feventh chapter are difcuffed, the 
advantages and difadvantages of country 
banks: here are feveral remarks particu- 
larly worth attending to. It fhould leem, 
that the ftoppage of the bank of England, 
and the legal tender of its notes, have 
given a fecurity to the country banks, 
from which they muft derive the greateft 
advantage:’” when payments were current'y 
made in gold, (fays Mr. Thornton) the 
country banks were fubje&t to fudden de- 
mands for cafh, through temporary alarms 
among the holders of their notes. From 
thefe they have lately been more exempt, 
in confequence of no other option having 
been given to thofe who demanded pay- 
ment of country bank paper, than that of 
receiving bank of England notes in re- 
turn.” This exemption may well account 
for the increafe of country banks, (which 
are {tated to have amounted in i797 to 
355, and in 1800, to have amounted to 
386) and certainly has no tendency to 
increafe our confidence in the fecurity of _ 
them. 
*¢ The Utility of Country Banks con- 
fidered.’” The author of this traét unites 
with Mr. Thornton, in endeavouring to 
prove the banking {yftem beneficial to the 
ftate: it is a very able pamphlet. The 
oppofite fide of the ground has been taken 
in the following traét: ‘ Serieus Reflec- 
tions on Paper Money in general, parti- 
cularly on the alarming Inundation of 
forged Bank Notes. With Hints for re- — 
medying an Evil, threatening Deftruction 
to the internal Trade of the Kingdom. In 
which are included, Obfervations on Mr. 
Thornton’s Enquiry concerning the Paper 
Credit of Great Britain.” 
The evil influence of Paper Money, 
when, as at prefent, it is circulated ad 
libitum, is alfo defcanted on by an author 
who calls himfelf a‘ Friend to the Poor, 
the Commerce, and the Conttitution of 
England, in a pamphlet, entitled, <‘ The 
Impolicy of returning Bankers to Parlia- 
ment ia the enfuing General Election ish 
a 
