Great Britain -- Description and travel; Great Britain -- Rural conditions
And, so, the "_boobies_" call for gold instead of country bank-notes!
Bless the "_boobies_"! I wish they would do it to a greater extent,
which they would, if they were not so dependent as they are upon the
ragmen. But, does the _Public Ledger_ think that those unfortunate
creatures who suffered the other day at Plymouth, would have been
"_boobies_," if they had gone and got sovereigns before the banks broke?
This brother of the broad sheet should act justly and fairly as I do. He
should ascribe these demands for gold to Mr. Jones of Bristol and not to
me. Mr. Jones taught the "boobies" that they might have gold for asking
for, or send the ragmen to jail. It is Mr. Jones, therefore, that they
should blame, and not me. But, seriously speaking, what a mess, what a
pickle, what a horrible mess, must the thing be in, if any man, or any
thousand of men, or any hundred thousand of men, can change the value of
money, unhinge all contracts and all engagements, and plunge the
pecuniary affairs of a nation into confusion? I have been often accused
of wishing to be thought the cleverest man in the country; but surely it
is no vanity (for vanity means unjust pretension) for me to think myself
the cleverest man in the country, if I can of my own head, and at my own
pleasure, produce effects like these. Truth, however, and fair dealing
with my readers, call upon me to disclaim so haughty a pretension. I
have no such power as this public instructor ascribes to me. Greater
causes are at work to produce such effects; causes wholly uncontrollable
by me, and, what is more, wholly uncontrollable in the long run by the
Government itself, though heartily co-operating with the bank directors.
These united can do nothing to arrest the progress of events. Peel's
Bill produced the horrible distresses of 1822; the part repeal of that
bill produced a respite, that respite is now about to expire; and
neither Government nor bank, nor both joined together, can prevent the
ultimate consequences. They may postpone them for a little; but mark,
every postponement will render the catastrophe the more dreadful.
I see everlasting attempts by the "Instructor" to cast blame upon the
bank. I can see no blame in the bank. The bank has issued no small
notes, though it has liberty to do it. The bank pays in gold agreeably
to the law. What more does anybody want with the bank. The bank lends
money I suppose when it chooses; and is not it to be the judge when it
shall lend and when it shall not? The bank is blamed for putting out
paper and causing high prices; and blamed at the same time for not
putting out paper to accommodate merchants and keep them from breaking.
It cannot be to blame for both, and, indeed, it is blameable for
neither. It is the fellows that put out the paper and then break that do
the mischief. However, a breaking merchant, whom the bank will no
longer prop up, will naturally blame the bank, just as every insolvent
blames a solvent that will not lend him money.
Public-domain text, read in full here on John Shaqi.
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