it is in vain, THING, that you thus are _making your preparations_; in vain that you are setting your trammels! The DEBT, the blessed debt, that best ally of the people, will break them all; will snap them, as the hornet does the cobweb; and, even these very "Semaphores," contribute towards the force of that ever-blessed debt. Curious to see how things _work_! The "glorious revolution," which was made for the avowed purpose of maintaining the Protestant ascendancy, and which was followed by such terrible persecution of the Catholics; that "glorious" affair, which set aside a race of kings, because they were Catholics, served as the _precedent_ for the American revolution, also called "glorious," and this second revolution compelled the successors of the makers of the first, to begin to cease their persecutions of the Catholics! Then, again, the debt was made to raise and keep armies on foot to prevent reform of Parliament, because, as it was feared by the Aristocracy, reform would have humbled them; and this debt, created for this purpose, is fast sweeping the Aristocracy out of their estates, as a clown, with his foot, kicks field-mice out of their nests. There was a hope, that the debt could have been reduced by stealth, as it were; that the Aristocracy could have been saved in this way. That hope now no longer exists. In all likelihood the funds will keep going down. What is to prevent this, if the interest of Exchequer Bills be raised, as the broad sheet tells us it is to be? What! the funds fall in time of peace; and the French funds not fall, in time of peace! However, it will all happen just as it ought to happen. Even the next session of Parliament will bring out matters of some interest. The thing is now working in the surest possible way.