7 
practices sowavari 
O72 
<25 
(for as to risk there is none) of keeping 
the accounts of their eroployers; yet the 
avarice of modera bankers, it appears 
from the vindication of their system al- 
Juded to above, has induced’ them to 
seek another method of employing the 
money confided to their care; and that 
is, by lending it to merchants Buon the 
security of cheir bills of exchange. By 
“thus hazarding the money of Ee eni- 
ployer, the banker, if the speculation 
entered .into by the merchant to whom 
he lends the money hapnens to answer, 
makes au enormous pr ofit, - and_ his cus- 
tomer is lucky enough to get back the 
money he had deposited m his hands : 
but if the speculation should prove en 
ulifortunate one, ard such perhaps is the 
case four times out of five, why‘then, 
says Aue vindication, “the merchant de. 
lares his insolvency, the banker is ru- 
roel and the evil spreads widely :” in 
other words, the banker stops payment, 
and those who had placed their money 
in his hands, as they thought in a secure 
and sacred depositary, are defrauded of 
their property; and hundreds of honest 
industrious tradesmen are ruined, and 
many are thrown from a state of compa- 
rative optlence, ito irrecoverable po- 
verty.. Thus the banker, and his cus- 
tomers, enter into a new kind of part- 
nership ; the banker employs their money 
in trade; he takes ail the profit, and 
they sustain all the loss! This is indeed 
€ pretty vindication of the banking sys- 
tem; one to which the vindication of the 
cuiners af base mIONEY, contained in the 
eoncluding pera of the article in 
‘question, is a most worthy companion ! 
It‘is much to be regretted that the le- 
pislature has never “yet passed any law 
to subject ‘bankers, who fail through 
cious ‘and dishonest, 
and commit frauds so ruinous afid ex- 
tensive, to the same punishment it in- 
flicts upon coiners,- whose frauds, com- 
pared with theirs’, are trifling and incon- 
rane e. This would be the hest pre- 
entative to the evil resulting from these 
irdcticek: Lo 
ft —SE ee 
To the Editor cf the Monthly Magazine. 
SIR, 
S the transiator of part of Prince 
Eugene’s amemcits, published> in 
“your Mavaz ine for August, wishes to be 
informed -of ihe meaning of the words, 
& Sur sa Spire,” 1 beg to inform him that 
Bite Eugene must have, as I suppose, 
alluded to the battle of Spire, which 
Barettal Taliard had gainedthe ycar before 
‘this battle of Bl lenleim was fought. In. 
Chelfenhans. : [Oct. ies 
the Histoire de la Milice Francoise, ie 
the following passage : 
rk Regiment Royal de. Cravattes. M. 
de Tallard lui fit ?honneur de se mettre 
a sa téte, pour charger l’enneini 4 Is 
Bataille de Spire, qu’il gagna, 1703.” 
Of this battle he was certainly. very 
proud. og dae BB 
ee 
For the Monthly Me. 
LETTERS DESCRIPTEVE Of CHRLTENHAM, 
d and its victnity.—No. VI. 
Cheltenham, August 16, 1808, 
SHALL proceed at once with the 
subject of my last letter. Kathe 
rines who had been richly jointured by 
lord Latimer, and royaly endowed by 
the king, was left at the death of the lat- 
ter ina state of enviable opulence. Her 
exalted character, and exemplary con 
duct, had secured her the esteem of the 
friends of the reformation; whose influ- 
ence at this time predominated in the 
government, 
The reign of a miasor is ever faveur- 
able to the machinations of the ambi- 
tious and’ designing. Immediately there- 
fore, upon the accession of Edward VI_ 
the two Seymours, | who were his uncles, 
seem to have formed separate schemes 
for seizing upon, and retaining during the 
period of his minority, the supreme 
power in the state. The earl of Hert- 
ford, the eldest brother, who was ap- 
pointed an executor, and one of the six- 
teen regents, by the will of the late king, 
soon procured himself, by indiscreet 
means, to be constituted sole protector 
of the realm; and was farther gratified 
with the title of “ Duke of Somerset.” 
His younger brother, sir Thomas Sey~ 
mour, who was nozninated only a privy 
counsellor, but who was equally aspiring, 
and perhaps jealous of the duke’s supe- 
tiority, appears to have determined, \at 
any price, to pane further | distinc- j 
tion. 
The princess Elizabeth, then very 
young, was placed under the guardians 
ship “of the queen dowager; “and the 
frequent visits of Seymour (upon whom 
was conferred the title of lord Sudeley, - 
nd the rank of high admiral) were ge- 
nerie attributed to an endeavour to 
obtain the affections of the princess, with 
the hope of advancing his ambitious 
projects by so splendid an alliance. 
How far this conjecture may be correct, — 
is uncertain; fer he must have been 
aware of the “impossibility of gaining the 
consent of the SeEENES to such’an uniony 
and must alsy have known, that by mat- _ 
