and frauds which the people are generally acquaint-formed men,that neither this bank,nor any one out of ed with, I feel authorized to say, that the history of ten others paying their debts with money, can safely modern banking, particularly in the middle and west- and honestly divide more than six per cent. per anern sections of the United States, is as yet but very num, for a long time to come, unless there is some imperfectly known. The imagination of an honest great change in the commercial relations of the man can hardly conceive the stupendous villainies world. Any thing, therefore, like the preceding that have been contrived, and which must, and will, communication, ought to be severely reprehended, forever exist in every country where paper can be as if intended wilfully to deceive the public. forced upon the people in heu of money. What is here said will be severely recollected in a year or Col. R. M. Johnson would not vote on the bank two, if the present wholesome purgation of the sys-questions before congress, because as the assignee tem is suffered to go on unimpeded; and some ex- of James Prentice, for the benefit of col. James posures will probably be made that will half fright- Johnson (his brother) a large amount of the stock en many people out of their wits. If the writer here- stood in his name. Further, a Kentucky paper of could tell what he knows, there is no one would says-that "if the situation of Mr. Speaker Clay say that this picture is too highly colored: private and col. R. M. Johnson, of this state, had allowed honor and his pledge as a gentleman, yet forbids them to vote, their unqualified disapprobation and may forever conceal, several things which, if would have been given to a repeal of the bank charthey had been received without that pledge, would ter." have been published. Expediency too, the vile doctrine of expediency, may have some effect in certain cases--and a question might arise, whether in our present state we are able to bear the truth? It is reformation that we have always aimed at―a retirement from the waste and extravagance of the paper age, to the economy and simplicity of honest times.

Semi-reciprocity. The British papers complain that many of the forged bank of England notes come from France. This may be a partial attempt to return the compliment of the British government, which officially caused the late paper currency of France to be forged, and sent off by waggon loads. The pro bability, however, is, that the forgets of English notes at Paris, are Englishmen.

But to return a moment to "Homo." His division of the 64 millions of dollars, coined at the Mexican mint, is so far fetched as a most to provoke ridicule. From the first step!-The legislature of Georgia He would teach us that this is the whole amount of in its last session, but by a small majority and after the value of the precious metals raised in the world a warm opposition, wisely resolved to establish a for the period stated, and intimates that each person new bank at a flourishing town called Darien. We on the globe should have a part of it!-He knows see in the "Darien Gazette, "a very respectable newabetter than to believe that any one can receive such paper, that the subscriptions for this stock were lateideas. Three fourths of the population of the worldly made, and that some swindling, "business of sharpknow nothing of the Mexican coinage, or of the pro-ers," or, as we politely call it, speculation, took duce of its mines new modelled, except as a solitary place at the beginning. But, indeed, how can we matter of ornament, if they have ever seen or heard of expect any thing else in building up a new bank, in it at all; and three fourths, perhaps, of the remaining times like these? We will give a reward in a piece fourth have little, if any thing at all to do with it: of paper marked 5 or 10 dollars, on either of the and with the few who use it, it is a simple thing of following banks, to any person who will seriously astraffic, passing through a thousand hands, perform-sure us, that any new bank has been established in ing a thousand offices, and fixing the value upon a the United States within the last five years, free of thousand things in the course of a year. And here- speculation: to witin is its essential use, and the exercise of an indispen sable quality to keep speculation in check and protect honest men from oppression.

Of the Merchants bank of Alexandria-of the German bank of Wooster, and two or three others in Ohio; of the Parkersburg and Saline banks, of VirOne year's practice of the principles set forth ginia; of several in Pennsylvania; of the bank of Sothe address of the Philadelphia society for the pro-mersett, or the Elkton bank, of Maryland; or, the motion of home industry, is worth more than all the themes about money-making, from the time of Law's Mississippi fraud to the founding of the Owl Creek bank.

"United States bank.-The stock of this bank is again looking up; having passed the ordeal, no fears are now felt for its future prosperity -$125 per share, was offered in this city, for 50 shares a few days past, and refused sales."

privilege of selection from a large heap of trash
which we unfortunately have on hand, consisting of
counterfeit bank notes and bank notes counterfeit-
ed.

A bill to incorporate the Exchange Bank at New
York, was rejected in the senate of that state by
the overwhelming majority of 12 votes.
Good.

The Hoo Hoo Bank.-The Owl Creek Bank has given public notice, that, in order to counteract the injurious tendency of the United States branch banks in that state, it has thought proper to follow the exam. ple of the other state banks, and has therefore stop. ped payment of specie, and will probably "stay upped," as the expression is, for some time. So says an Ohio paper.

We had hoped that the day of such things had gone by. At the very time that this puff was published at Raleigh, the price of the stock was quoted (and) The Western Herald, a newspaper printed at Steuevery body knows what a stock-broker's quotation benville, the intelligence and zeal of whose editor ist) at about 112. No sales were mentioned as hav-we have several times commended and always had ing taken place, at any price; and now, the nominal reason to respect, is headed thus "The United value of this stock in the United States is only 104 States' bank-every thing! The sovereignty of the or 105; in London at 20 to 211-888 80 to 93 24! states-nothing. We do not wish to say any thing more on this particular subject-it is agreed upon by all best in

At the close of some nervous remarks, he says
«Our opinion is, that if the U. S. bank is permitted

to tax us without our consent to locate branches | such case, it shall give immediate notice thereof t among us without our consent-and said branches to such receivers and others who usually deposite pub be free from taxation for state purposes we had lic monies in it; and the notes of any such bank, better, instead of calling a convention to amend our which may have been received by them before such constitution, call a convention to offer it up, uncon-notice, shall nevertheless, be taken by the "Farmditionally, to the general government, and return to ers' and Mechanics' bank," as cash. the territorial grade."

2. That the bank shall pay, at sight, all drafts which the treasurer of the U. States may draw on it? As it should be. The legislature of Pennsylvania and shall from time to time, transfer to the bank of has passed an act annulling the charter of any bank the United States or its branches (in such monies as (except for the purpose of immediately closing the will be received by it as cash) the excess of public concerns of the institution) that shall refuse to pay monies remaining on deposite after such drafts are its notes in the legal coin of the United States. The paid, over and above the sum of $100,000, which process to be by proclamation of the governor, ex- sum of $100,000 shall remain on deposite in said cept in the case of brokers or others in the habit bank during the continuance of this arrangement, of buying the notes of such bank at a price below and shall be transferred in like manner within six their nominal value: and if after such proclamation months after the said bank shall cease to be employany bank shall issue its own notes, grant any new ed to receive the public monies. It is agreed, howloan or declare a dividend of profits, every person ever, that if the amount received by the bank shall be consenting thereto shall be liable each in his indiviso large, as that the expense of remittance shall exdual capacity. There is also a provision for the re-ceed the benefit of the deposite, the sum which is to covery of interest on a note not paid, on demand, by remain on deposite in that bank shall be proporany person, after the fist of August next. tionally increased.

We are thus happily retiring from the madness 3. That the bank shall render to the secretary of of paper-money-making-and trust, that in a reason- the treasury and to the treasurer of the United able time, we shall get back to a wholesome curren-States, duplicate monthly returns of its account with

cy.

the treasurer; and shall, also, render to the secretary of the treasury monthly returns of the state of its The legislature of Pennsylvania bas passed a re-affairs; which latter returns will be considered consolution to amend the constitution of the United States, so as to forbid the establishment of a bank by congress, except in the district of Columbia.

Retiring banks. Far be it from us to believe that a majority of the persons who latterly engaged in the making of banks are dishonest-though we must believe, that, as a general rule, the chief promoters of them were-speculators. We see evidences of the honesty which we hoped existed, in the resolutions of the stockholders of several banks to close the concerns of their institutions and dissolve their associations.

fidential. In these latter returns will, also, be noticed the sums standing to the credit of any public officer or agent.

If those conditions are accepted by the bank, it will immediately give notice of its acceptance to the secretary of the treasury; and the receivers of public monies at authorised, upon receiving from the bank an official copy of such notice, to make deposites in the Farmers and Mechanics' bank of Cincinnati: provided, however, that the said bank shall previously have resumed specie payments, and shall have given notice thereof in the Cincinnati newspapers.

Treasury department, 5th March, 1819.

The banks referred to in the first article of the foregoing articles are:

Bank of Wilmington and Brandywine. A numerous meeting of the stockholders of the above bank, was held at Wilmington, Del. on the 5th inst. and a Bank of Cincinnati, the Miami Exporting Comcommittee of six stockholders appointed, in con-pany, Lebanon Miami Banking Company, Dayton Junction with the board of directors, to examine the Manufacturing Company, Urbana Banking Compaaffairs of the institution, and to report to an adjourn-ny, Bank of Chillicothe, Franklin Bank of Columbus, ed meeting on the 10th May next, "whether it will be most consistent with the public good and the interest of the stockholders to close the affairs of the bank, or to take measures for restoring its credit."

WESTERN BANKS.

A Cincinnati paper of the 23d ult. gives us the following, as an arrangement of the treasury of the United States, to relieve the pressure upon certain local banks, and thereby, also secure the collection of monies due the United States, for lands sold, &c. It is considered as very beneficial to the people of Ohio.

Conditions on which the secretary of the treasury is willing to employ the Farmers' and Mechanics' bank at Cincinnati, as a depository of public monies.

1. The bank will receive from the receivers of public monies, and others having monies to pay on account of treasury of the United States, the notes of the banks, a list of which has been deposited in the office of the secretary of the treasury by the cashier of that bank, and credit the same to the treasurer of the United States as cash. The bank may, however, discontinue the notes of any of the said

Lancaster Ohio Bank, Bank of Marietta, Belmont Bank of St. Clairsville, Bank of Steubenville, Western Reserve Bank, Bank of Kentucky, and its branches, Farmers and Mechanics' Bank, Lexington, Bank of Georgetown, Ky.Newport Bank,Ky. Branch Farmers and Mechanics' Bank of Indiana, at Laurenceburgh, Indiana.

The bank will extend this list in proportion as it can do it with safety,

An arrangement, on the same principles, has
been made with the bank of Steubenville, and, we
believe,with that of Chillicothe. The Steubenville He-
rald says "The receivers of public monies in Steu-
benville and Wooster, are instructed by the bank
of Steubenville to receive, as cash, notes of the
U. States bank and branches,
Bank of Steubenville,

Farmers' & Mechanics' bank of Steubenville,
Bank of Pittsburgh,

Banks of New York city, Philadelphia, and Bal-
timore (except the Marine bank.*)

*Probably, on account of the great body of coun

banks whenever it may deem it necessary; but interfeits on this bank, which are circulated through

Jackson-Clinton and Scott.
The following are the indignant terms in which gov.
Clinton repels the insinuation of gen. Scott, that
he was the author of the anonymous letter to gen.

My present objects are to disavow the printing of the correspondence, and to recal the word “garbled," twice used in the address "To the Public."

Have the goodness to append hereto, the letter and
cantation are respectively predicated.
extract of a letter on which the charge and the re-

I remain, Messrs. Editors, your most obdt.
WINFIELD SCOTT.

April 9th, 1819.

Jackson: I will barely add, that although the first letter apTo the public. Gen. Scott, of the army of the U.peared to have been cautiously written, I should imStates, having, in a letter of the 2d Jan. 1818, to mediately have desired my correspondent to re-exagen. Jackson, insinuated that I had written, dictated mine the subject, but that I had reason to suppose, or instigated an anonymous letter to the latter gen-from himself, that he had left New York soon after tleman, from unworthy motives, and for improper the date of his letter,-The above retraction is vopurposes; and having also concealed this imputation luntarily and cheerfully made. from me, until the publication of a pamphlet which reached me on the 4th instant, I have considered it proper to declare, that I have had no agency or par. ticipation in writing, dictating or instigating any anonymous letter whatever to general Jacksonthat I am entirely ignorant of the author--and that Copy of a letter addressed to major general Scott, date the intimation of general Scott is totally and unqualifiedly false, to all intents, and in all respects. This DEAR GENERAL-I trust that you will excuse me declaration is made from motives of respect for pub-for troubling you on this occasion, but I considered lic opinion, and not from any regard for gen. Scott, that you might be ignorant of the circumstances I whose conduct, on this occasion, is such a total de-am about to mention, and perhaps they may be someparture from honor and propriety, as to render him what important. unworthy of the notice of a man who has any respect for himself.

at New-York, March 2d, 1819.

General Jackson, during his late visit to this place, was at some trouble to cause to be widely distributed his correspondence with you. He left with a It is not probable that I can at this time have any gentleman (late a lieutenant colonel in the army) a recollection of having had the honor of seeing gen. copy-say of the anonymous letter, his letter to you, Scott, on 9th of June, 1817, at a dinner in N. York, or your reply, and his rejoinder, all certified by his A. of the topics of conversation as he suggests: circum-D. C. This late lieutenant colonel has even, in constances so unimportant are not apt to be impressed versation, proposed, that it should be published; but on the memory. But I feel a confident persuasion, I have understood that general Jackson was averse that I did not make use of any expressions incom- from this-but had no objection that it should be cirpatible with the high respect which I entertain for culated in MS. gen. Jackson. DE WITT CLINTON.

Albany, 6th April, 1819.

By referring to the statement published in our last, it seems to be implied by gen. Scott, as if he had only on one occasion expressed an opinion of gen. Jackson's order. The New York Columbian says that gen. Scott has "a most treacherous memory-his inculpations of gen. Jackson were almost as public in this city, as his intentions of defacing our battery-he was open and explicit in expressing these opinions," &c.

The Richmond Compiler of the 10th inst. contains the following letter, addressed to the editors.

GENTLEMEN—On the 18th ultimo, I commenced multiplying manuscript copies, with notes, &c. of the correspondence into which I was accidentally drawn in 1817, with major general Jackson, intending to have made out some twenty copies in that shape, for the public. Before I had accomplished that intention, some friend, no doubt, availed himself of one of the first copies put into circulation, and caused it to be printed in a pamphlet form; and it

This transaction, perhaps, makes no impression on your friends, which is at all disadvantageous; but I, in common with others, have conceived, that it is malevolent in intention, and that the efforts of many here will be exerted to support its mischievous spirit. If you are not already informed of this, some advantage may be reaped from knowing, that all this has been done with feelings and intentions full of animosity towards you.

I hope, that you will excuse any thing which may appear intermeddling or forward, as no one, dear general, can be more devotedly your friend and well-wisher, than, &c. &c.

Extract of a letter addressed to maior general Scott, dated New York, April 5th, 1819.

"On one point of the subject, I discover, with mortification, that I have misled you: In mine of the second of March, I made, it is true, a particular reference to the letters, copies of which were circulated in M S. here. My accidental omission of the last of the series, has induced you to suppose, that the agents of general Jackson had suppressed it. For this I am very sorry, and to atone to my own the western country. The bank is as good as any feelings, must state explicitly, that the whole series other in Baltimore, and has very properly changed was included in the manuscript circulated here, and its plates, though the counterfeit notes are easily were true copies, I believe, of those now in print, detected, by those acquainted with the genuine with the certificate, in the commmon form of capt.

ones.

ED. REG. Call, an A. D. C."

The subject discussed in these essays, will be political economy, which, in its broad and liberal sense, may be fairly styled the science of promoting human happiness; than which a more noble subject cannot occupy the attention of men endowed with liberal minds, or inspired by public spirit.

writers.

In this arduous undertaking, we request a patient and candid hearing from our fellow citizens. We fondly hope for success: but if disappointed, we shall have the consolation of having endeavored to discharge a duty every good citizen owes to the country which protects him-the duty of contributing his efforts to advance its interests and happiness. As a preliminary step, we propose to establish the utter fallacy of two maxims, supported by the authocertain ruin to any nation by which they may be carrity of the name of Adam Smith, but pregnant with ried into operation.

This writer stands as pre-eminent in the estimation of a large portion of Christendom, as the Delphic Oracle of political economy, and there is such a magic in his name, that it requires great hardihood to question any thing that he asserts or assumes; and a high degree of good fortune to obtain a fair and patient hearing for the discussion.

But at this enlightened period, we trust our citi

It is to be regretted, that this important science has not had adequate attention bestowed on it in the U. States. And, unfortunately, so many contradic-zens will scorn to surrender their reason into the tory systems are in existence, that statesmen and le- guidance or guardianship of any authority whatever. When a position is presented to the mind, the quesgislators, disposed to discharge their duty conscien- tion ought to be, not who delivered it, but what is tiously, and for that purpose, to study the books on the nature of the subject, and how is it supported this subject, are liable to be confused and distracted by reason and common sense, and especially by fact. by the unceasing discordance in the views of the A theory, how plausible soever, and however proped up by a bread-roll of great names, ought to be regarded with suspicion, if unsupported by fact-but if contrary to established fact, it ought to be unhesiThis course of procedure is tatingly received. strongly recommended by the decisive fact, that in ories on morals, religion, politics, or science, which the long catalogue of wild, ridiculous, and absurd thehave had their reign among mankind, there is hardly one that has not reckoned among its partisans men of the highest celebrity. And in the present testimony against many received doctrines of this instance, the most cogent and conclusive facts bear political economist, great as is his reputation.

It is happily, nevertheless, true, that the leading principles of the science which safely conduct to the most important and beneficent results, that are its ultimate object, are plain and clear: and require, to be distinctly comprehended and faithfully carried into effect, no higher endowments than good sound sense,

and rectitude of intention.

It is a melancholy feature in human affairs, that imprudence and error often produce as copious a harvest of wretchedness as absolute wickedness. Hence arises an indisputable conviction of the imperious necessity, in a country where so many of our

citizens may aspire to the characters of legislators We hope, therefore, that our readers will bring and statesmen, of a more general study of this sci-to this discussion, minds wholly liberated from the ence, a thorough knowledge of which is so essen-fascination of the name of the writer whose opinions tial among the qualifications for those important sta- we undertake to combat, and a determination to To remove all doubt on this point, we shall adduce, weigh the evidence in the scales of reason, not those of prejudice.

tions.

in the course of these essays, various instances in which single errors of negociators and legislators have entailed much, and in many cases, more misery on nations, than the wild and destructive ambition of

conquerors. Unless in some extraordinary instances, a sound policy on the restoration of peace, heals the wounds inflicted by the war, and restores a nation to its pristine state of ease and comfort. But numerous cases are on record, wherein an article of a treaty, of ten or a dozen lines, or an impolitic or unjust law, has germinated into the most ruinous consequences for a century.

It is our intention in these essays

1. To review in detail the policy of those nations which have enjoyed a high degree of prosperity, with or without any extraordinary advantages from nature; and likewise of those whose prosperity has been blasted by fatuitous counsels, notwithstanding great natural blessings:

In order to render Dr. Smith full justice, and to length, in his own language. remove all ground for cavil, we state his positions at

the produce of domestic industry, in any particular "To give the monopoly of the home market to art or manufacture, is in some measure to direct their capitals; and must, in almost all cases, be ei private people in what manner they ought to employ ther a useless or a hurtful regulation. If the domestic produce can be brought there as cheap as that of foreign industry, the regulation is evidently useless. If it cannot, it must generally be hurtful.

It is the maxim of every prudent master of a

*Montesquieu, whose reputation was as great as that of Dr. Smith, and whose Spirit of Laws has had as extensive a currency as the Wealth of Nations, held the absurd idea, which remained uncontroverted for half a century, that the habits, man2. To examine the actual situation of our country,ners, customs, and even virtues and vices, of nations, in order to ascertain whether we enjoy the advanta- were in a great measure governed by climate; so ges to which our happy form of government and lo- that a tolerable idea might be formed of those imcal situation entitle us; and if we do not, to investi-portant features of national character by consulting gate the cause to which the failure is owing: maps, and ascertaining latitudes and longitudes!

3. To develope the true principles of political Bacon studied judicial astrology! All the great men economy, suited to our situation and circumstances, of his day believed in magic and witchcraft! Johnand calculated to produce the greatest sum of hap-son had full faith in the story of the Cock-lane ghost! piness throughout the wide expanse of our territory. So much for great irames.

family, never to attempt to make at home what it will cost him more to make than to buy. The tailor does not attempt to make his own shoes, but buys them of the shoemaker. The shoemaker does not attempt to make his own clothes, but employs a tailor The farmer attempts to make neither the one nor the other, but employs those different artificers. All of them find it for their interest to employ their whole industry in a way in which they have some advantage over their neighbours; and to purchase, with a part of its produce, or what is the same thing, with the price of a part of it, whatever alse they have occasion for.

"That which is prudence in the conduct of every private family, can scarcely be folly in that of a great kingdom. If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it from them, with some part of the produce of our own country employed in a way in which we have some advantage.

try in these branches, they make for themselves and families, a comfortable subsistence. They afford a large and steady market for the productions of the earth, giving support to, probably, at least a million of persons engaged in agriculture. They, moreover, enrich the nation by bringing into it wealth from nearly all parts of the earth. The immense sums of money they thus introduce into their native country, afford means of employment and ensure happiness to other millions of subjects, and thus, like the circles made on the surface of the stream by the central pebble thrown in the range of happiness, is extended so wide as to embrace the whole community.

From this cheering prospect, let us turn the startled eye to the masses of misery, which Dr. Smith's system would produce, and we shall then behold a hideous contrast, which we trust escaped the doctor's attention; for the acknowleged goodness and benevolence of his character, will not allow us to believe, that he would have been the apostle of such a "The general industry of the country being in pernicious doctrine, had he attended to its results. proportion to the capital which employs it, will not We fondly hope that, like many other visionary men, thereby be diminished, any more than that of the he was so deeply engaged in the fabrication of a reabovementioned artificers; but only left to find out fined theory, that he did not arrest his progress to the way in which it can be employed with the great-weigh its awful consequences. est advantage. It is certainly not employed to the The East Indies could at all times, until the recent greatest advantage when it is thus directed towards an improvements in machinery, have furnished cotton object which it can buy cheaper than it can make. The goods at a lower rate than they could be manufacvalue of its annual produce is certainly more or less tured in England, which had no other means of prodiminished when it is thus turned away from produc-tecting her domestic industry, but by a total prohi ing commodities evidently of more value than the commodity which it is directed to produce. According to the supposition, that a commodity could be purchased from foreign countries cheaper than it can be made at home. It could therefore have been purchased with a part only of the commodities, or what is the same thing, with a part only of the price of the commodities, which the industry employed by an equal capital would have produced at home, had

it been left to follow its natural course."

bition of her rival fabrics. Let us suppose that France, where labor and expenses are much lower than in England, has possessed herself of machinery and is thus enabled to sell woolens at half, or even three fourths or seven eighths of the price of the English rival commodities. Suppose, further, that ar ticles manufactured of leather are procurable in South America, and iron wares in Russia, below the rates in England. Then, if the statesmen of that nation were disciples of Adam Smith, as "foreign There is in the subordinate parts of this passage, countries can supply them with those commodities cheapmuch sophistry and unsound reasoning, which we er than they themselves can make them,' they must, acshall examine on a future occasion: and there is like- cording to the doctor, "buy from them with some part wise, as in all the rest of the doctor's work, a large of the produce of their own country," and accordingly proportion of verbiage, which is admirably calculated open their ports freely to those various articles, from to embarrass and confound common understandings, those four particular nations.-France and Flanders and prevent their forming a correct decision. But would supply them with superior and cheaper woolstripped of this verbiage, and brought naked and ens and linens, Silesia and Russia with coarse linens unsophisticated to the eye of reason, the main pro---Sweden with iron and copper-Italy and China position which we at present combat, and to which we here confine ourselves, is, that

"If a foreign country can supply us with a commodity, cheaper than we ourselves can make it, better buy it of them with some of the produce of our own industry, employed in a way in which we have some advantage.'

with silks-Hindustan with silks, cottons and muslins-South America with leather -North America with wheat, flour, hops, barley, rye, rice, foil and salted fish. Who can contemplate the result without horror? What a wide spread scene of ruin and desolation would take place! The wealth of the country would be swept away to enrich foreign and The only rational mode of testing the correctness probably hostile nations, which might at no distant of any maxim or principle is, to examine what have period make use of the riches and strength thus fatu been its effects, where it has been carried into ope-itously placed in their hands, to enslave the people ration, and what would be its effects in a given case where it might be applied. This is the plan we shall pursue, in this investigation.

Great Britain affords a felicitous instance for our purpose. Let us examine what effect the adoption of this maxim would produce on her happiness and prosperity,

who had destroyed themselves by following such baleful counsels. The laboring and industrious classes would be at once bereft of employment, reduced to a degrading state of dependance and mendicity, and through the force of misery and distress, driven to prey upon each other, and upon the rest of the the community. The middle classes of society There are above a million of people of both sexes would partake of the distress of the lower, and the and of all ages, employed, in that country, in the sources of the revenues of the higher orders be driwoollen and cotton manufactures. By their indus-ed up. And all this terrific scene of wog, and wretch*Dr. Seybert states, that, in 1809, there were 800,000 persons in Great Britain engaged in the cotton manufacture alone. It has since increased considerably. It is therefore probable that the two branches employ at least 1,300,000 persons.-p. 92.

edness and depravity, is to be produced for the grand purpose of procuring broad cloth, and muslins, and shoes, and iron ware, from remote parts of the earth, a few shillings per yard, or piece, or pound, cheaper than at home. The manufacturers of Bom