e duty. Till, then, the exchange shall come to par, and in our favor, the change in currency would in no degree alter the efficacy of any regulating price now fixed for importation. As no one can expect that such an event as a complete system of cash payments by the Bank, similar to that which existed prior to 1797, can be brought about in a very short space of time; whenever it does occur, it will then, and not till then, be a fit occasion to consider what is right to be done on this question of regulating the importation of corn, so far as the value of the currency bears upon it. Having thus gone through all the several objections that have been urged against the Corn Bills, as to the time of pressing them forward, their principles, and their objects, it is only necessary again to declare, that the authors of them, so far from intending to sustain high rents, rather look forward to a reduction of all those which have been calculated on the prices of the last few years; so far from intending to raise the price of corn or bread, they are altogether influenced by a desire to secure plenty and low prices, by averting that sudden stop to cultivation, which will certainly take place, if no protection is given to the farmer, and which must be followed by high prices and scarcity. And, finally, so far from wishing to benefit only the grower of corn, they seek to protect and promote the interests of the consumers, which when well understood, differ in no kind of degree from those of the growers. These are the real motives which have influenced their conduct. To attribute any other to them, is to do that which is an unwarrantable misrepresentation, and that which no argument or fact that they have ever advanced will at all justify. According to the graduated scale of duty. SKETCH, &c. DURING the investigation by the Bullion Committee, and the discussions in Parliament on the subject of our currency, my attention was drawn to the admirable and accurate new System adopted in France in the division of their money of account, the assay of the Coin and the weights, each corresponding with the other in decimal sub-division, and it occurred to me that the same was applicable without any inconvenience and with infinite advantage, in every respect, to our monies, weights, and coins, which I have endeavoured to elucidate by the following sketch; and as, in consequence of the Peace, we are approaching to the period when a new Coinage will take place, this appears the proper time for taking up the subject, which could not have been brought forward sooner, on account of the deranged state of commerce and of our relations with the continent. It will be necessary first to consider weights-our Cwt, divided into Quarters and Pounds, involves a most tedious and uncertain operation throughout; and it is obvious that a Quintal or Cwt of 100lbs is best adapted to the purposes of commerce.-I would therefore propose to adopt the lb. of 16 Ounces Troy, (the same as is known or used in the Commerce of many Countries under the names of Poids de Marc, Poids de Cologne, Poids d'Amsterdam, &c. &c. with slight accidental variations,) 100 of which compared to our 112, would be as 96 to 98, and thus make no material alteration in the Ton weight, which, if it consisted of 2000 lbs Avoirdupois, would be too small for the Tonnage of Ships, &c., whereas the Ton of 2000 lbs of 16 ounces Troy would be the same Ton as in Holland, Hambro', &c. In order to correspond with the following decimal divisions and calculations, the Pound (of 16 oz. Troy) to be divided thus: 5 lb. Standard Silver to be coined into being in proportion as 1 to 15 84 Crowns 168 half crowns 420-50 mil. 840-25 mil. which would establish the Mint prices of new Standard Coin Gold Silver 2. 0 8 4, Per Ounce Troy. £4 1 4 The expense of Coinage is at present a Charge upon the public, but the Mint, receiving Bullion at the rate of the Coin, should deduct from the price a certain fixed rate for Coinage, to be regulated by a Tarif or Scale for every degree, from Fine to The present mode of buying and selling Bullion, at a price Standard, is liable to much objection, the operation of reducing to standard Bars of various reports being most intricate and tedious; the better mode would be to form a Scale for Gold and Silver from £72,3333 for fine Gold, and from £4,6666 for fine Silver, and thus, for every degree worse, down to below which it is supposed the seller should be at the expense of refining his Bullion before he could offer it for Sale. The Scale would be constructed thus-but more minute ly, showing the price for every degree, from fine down wards. |