Bulwer somewhere records a story of John Martin in his early days. He was, on one occasion, reduced to his last shilling. He had kept it, out of a heap, from a partiality to its appearance. It was very bright. He was compelled, at last, to part with it. He went out to a baker's shop to purchase a loaf with his favourite shilling. He had got the loaf into his hands, when the baker discovered that the shilling was a bad one, and poor Martin had to resign the loaf, and take back his dear, bright, bad shilling once more. Length of time and cold criticism in like manner have reduced John Philips to his solitary 'Splendid Shilling.' But, though bright, it is far from bad. It is one of the cleverest of parodies, and is perpetrated against one of those colossal works which the smiles of a thousand caricatures were unable to injure. No great or good poem was ever hurt by its parody:--the 'Paradise Lost' was not by 'The Splendid Shilling'--'The Last Man' of Campbell was not by 'The Last Man' of Hood--nor the 'Lines on the Burial of Sir John Moore' by their witty, well-known caricature; and if 'The Vision of Judgment' by Southey was laughed into oblivion by Byron's poem with the same title, it was because Southey's original was neither good nor great. Philip's poem, too, is the first of the kind; and surely we should be thankful to the author of the earliest effort in a style which has created so much innocent amusement. Dr Johnson speaks as if the pleasure arising from such productions implied a malignant 'momentary triumph over that grandeur which had hitherto held its captives in admiration.' We think, on the contrary, that it springs from our deep interest in the original production, making us alive to the strange resemblance the caricature bears to it. It is our love that provokes our laughter, and hence the admirers of the parodied poem are more delighted than its enemies. At all events, it is by 'The Splendid Shilling' alone--and that principally from its connexion with Milton's great work--that Philips is memorable. His 'Cider' has soured with age, and the loud echo of his Blenheim battle-piece has long since died away. THE SPLENDID SHILLING. "... Sing, heavenly Muse! Things unattempted yet, in prose or rhyme," A Shilling, Breeches, and Chimeras dire.