1801.] 
middle of the Fe¢ade of the Thuilleries, 
looking to the garden, which drew a good 
many gazers as an gels of curiofity out 
of the common mode; the other is pro-- 
perly a time-piece, made by Berthoud, 
which has gone very regularly for thefe 
fifteen months. 
«© As to what concerns the Republican 
Calendar, difficulties likewife occur with 
regard to the precife period at which the 
French year begins. It ought to be on 
the day, in which, according to aftrono- 
mical obfervations, the fun enters the farft 
point of the fign Libra, Now the fun 
does not enter this fign every year on the 
fame day and hour, and thus the republi- 
can year is equally fubject to variations ; 
and it is bebdes very difficult to deter-. 
mine this period, both for the palt and the 
future. But, in the calendar of all other 
European nations, which is confecrated by 
long ufe and by the approbation of the 
greatett legiflators and aftronomers for its 
exactnefs, the computation of time, by 
the affiftance of an eafy intercalation, may 
be made for many centuries, paft and to 
come ; a computation which will not pro- 
duce anerror of a fingle day, compared 
with the true aftronomical calculation, in 
lefs than 3200 years. It furely required 
more mature reflection, before a chronolo- 
gical ‘yftem was to be-abandoned, which 
poffeffed fo much fimplicity, facility. in 
computation, and fucir rigorous exact- 
mefs. 
«¢ The names adopted in this new fyf- 
tem, fuch as, meire, are, fiére, litre, and 
gramme, will long have a barbarous found 
to the ears of the people; and it will be 
no lefs difficult for them to comprehend 
that the prefixed terms deci, centi, and 
milli, denote divifion by ten, an hundred, 
and a thoufand, and that deca, he&o, kilo, 
and myria, fignify multiplication by thefe 
numbers ; and the fact is, that, not- 
withitanding the pains taken by the Direc- 
tory to introduce the new fyftem, by mul- 
tiplying models of the ftandard weights, 
and diftributing them to the departments, 
its ufe is almoft entirely confined to the 
limits of Paris, and to the public officers, 
the latter ufing the new fyftem merely in 
compliance with exprefs orders. The 
greater number of the vait population of 
France neither know nor underftand the 
‘new {yftem, and continue in the old track; 
and it will probably require fome centuries 
before this fyitem has entirely difplaced 
the ule of the antient weights and mea- 
fures. 
«« How creat the difficuity then of intro- 
ducing the new-metrical fyitem throughout 
Defence of the Rouk-direHars, 
203 
Europe? There are reforms which are 
liable to too many obftacles in their intro- 
duétion, and which entrench upon too 
powerful and multiplied interefts, to be 
undertaken without the moft ferious incon- 
“-veniences to the prefent ftate of fociety. 
Tt is in fuch cafes however, that the 
neceffity for fuch reforms may often be ob- 
viated by wife and prudent meafures on 
the partof government.” ; 
ere en SR eer 
To the Editor of the Monthly Magazine. 
SIR, 
N ( R. ALLARDYCE has taken much 
pains to fhew that the conduét of 
the Direétors of the Bank of England 
has been cenfurable, for not increafing the 
dividends upon Bank-ftock, and it muft 
be confefled that his premifes appear to 
warrant his concluficon, I was not, how. 
ever, fat isfie d by the explanation ‘which 
hee) ves of fuch paradoxical conduét, on 
the part of the Directors. . Their intereft 
in the concern was, I thought, too great 
to be defpiied, and to keep the dividend 
much below the point to which it could 
fafely be carried, appeared to me an inftance 
of negligence altogether unparalleled. 
I therefore confulted Dr. Adam Smith ; 
and refiecting upon his obfervations, I felt 
convinced that the Bank-dire€tors have not 
merited the blame imputed to them by Mr, . 
Allardyce. 
Perhaps I may be able to fuggeft to 
that gentleman the ground of his mif. 
take, 
He finds hat private Bankers can di- 
vide yearly 134 per cent. upon their capi- 
tal, and ee he confiders that the 
Bank of England could increafe their'di- — 
vidends either to that rate, or near it, or 
perhaps beyond it. 
The capital of private Bankers, how- 
ever, does not exceed what is neceilary to 
keep by them for che dilcharge of their 
engagements, their notes, &c. as they 
come in. A private Banker, we may 
fuppofe, gains five per cent. per annum, 
upon the “whole amount of the notes and 
bills which he can circulate. To fupport 
that circulation, it is only requifite that he 
fhould hold a certain proportion of cafh in 
hishands. His profits are to be reckoned 
Upon the amount neceffary for that pur- 
pole. If, for inftance, upon an average 
he circulaess notes, &ca to the amount of 
a million, and the capital, or the quantity 
of moncy which enables him to do this, is 
a quarter of a million, he will gain upon 
that capitalzo per cent. per annum, deducs 
ting the expeace of managing his baajnets., 
dz that 
