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Observations on Money, Price, &c. [March, cannot, by law, be above it. Com. sured, that both you and he would modilies have not the same privilege, encourage me to state my opinions, nor tbe same confioement*.
though opposed to bis, for the sake Commodities may not be accept of eliciting the truth. able to every one: money is desired I have been an attentive and by all, nor does any person ever think thoughtful observer of passing events he has too much : but a man may for the last thirty years; io the course sicken at the sight of his goods, be- of wbich time I have felt practically cause no one chooses to buy them. the variations in the price of bullion. Thus, commodities may, and often I agree with your Correspondent, do, lie long in warehouses, paying that it is very desirable we should heavy rents, and sometimes perish. form correct ideas of the words in iog, till they become worth notbing; general use; I will therefore submit while cash and bulliou may always be to his perusal (through your medium) placed out to interest, or employed a few observations upon the subject in purchasing commodities for profit. under discussion. After mature con
Commodities are greatly affected, sideration, and much reflection on the both in price and value, by plenty terms burter, price, buying, selling, and scarcity ; but plenty and scarcity purchase, &c. I am of opinion that make no difference in the par, or ex- trade of every description rests upon change of the metals, but only in their its original foundation of barter, exyalue.
changing one commodity for anolber, The precious metals, generally and that bollion, or gold and silver, speaking, are not only inconsumable, as well as costly jewels and works of but also undestructible, and fixable, arts, are commodities, and likewise either in largest portions or smallest matter of barter, subject to variations particles. Commodities have none in their prices or relative value, as of these qualities.
circumstances may affect them; for Commodities being subject to con- example, their abundance or scarcity, tinual decay, furnish a never.ceasing or the demand and supply. round of labour, in fulfilment of that The metals when coided into modenunciation against sin, where it is ney are the received circulatiog me. said, “In the sweat of thy face shalt dium of a particular country, possesthou eat bread.” (Gen. iii. 19). Mo- sing a nominal value on the authority ney, when sufficiency is acquired, en- of ihe stamp thereon ; yet experience ables its possessor io overcome the has proved ihem liable to great fluctudenunciation, so far as it relates to ation with respect to their actual or labour, and to live without it. relative value, when considered as an
A LOMBARD. equivalent; wbich is ultimately re· P.S. There has lately appeared gulated by the state of the Bullion amongst us a new metal, called Pla- market. When carried into a foreign tina. Its specific weight exceeds tbat country, they are commodities for of Gold; its colour is almost the same sale or barter, subject to variation as silver, but not quite so white. It in price according to the demand and is creeping into use in our manufac. supply, and are usually of more vatories, but at present makes no pro
lue than the same weight of bullion mise of being adopted as money.
· Money was the io vention of map Mr. URBAN,
io very remole periods, to simplify Feb. 7.
and make easy the business of trade I! HAVE perused, with much plea or barter, to serve as a medium for
sure, several communications the interchange of commodities, when from your very intelligent Corre- direct exchange might be impractispondent, A LOMBARD, and I feel as
cable, which most frequently must be * In the last coinage of silver, the precious metals, has hitherto proved
the case. Money, consisting of the Government received the bullion at 5s. 2d. per ounce, and issued it at 5s. 6d.
the best medium of exchange, and This is but a short-sighted policy; for serves as an equivalent for all indirect whatever is gained in its issue, must exchanges, by which happy in vention be lost in its recal, and while it cir trade or barter is approaching to a culates, it must always bear the stigma complete science. Money is not the of depreciation.
measure of value, or price of a com
illettede task anorme currently passing N for fortebe Pripo e non receiving
1821.] On Money, Price, &c. - Dr. Parr and Bp. Hurd. 229 modity, but a circulating valuable or manufacturer it is fairly worth a consideration given in exchange or certain fixed price; with the retailer payment, which common consent has it possesses a higher price, and by the established as an equivalent in all consumer it is rated at a higher price dealings.
still. lo latter ages, mankind have in. Buying, selling, purchase, &c. are vented a paper medium, representing terms well understood, denoting the money, possessing no iotriusic value, indirect mode of exchanging commobut issued on the credit or responsi- dities, rendered necessary by the imbility of Banking companies, or of proved method of transacting busithe government. It may be termed ness ; since money, or the inedium of artificial money, but it has only been barter, has introduced middle men able to maintain its nominal value or merchants, and dealers, whose obin well-governed states; and to be ject it is to gain profit, by procuring effective must not only represent a commodities of every description to certain portion of the precious me- supply the wants of mankiod. And tals, but must be able to obtain that as they barter through the intervenportion, or its relative value in com- tion of price and money, these terms modities, otherwise public opinion are peculiarly adapted to convey a will condemn it, in opposition to all just idea of these transactions. laws and ordinances.
On some future day I may be inWe all talk about money, as if it duced to submit to the judgment of were the chief substantial property, your readers observations on other when in truth it is ooly an equivalent subjects. GEORGE WIRGMAN. or medium of exchange, and is seldom possessed to any large amount, even by rich men; for it performs its
TOT from one another
forgotten strifes amongst the Price, in my opinion, is the mea. great, but to gratify a vivid, and, I sure or estimated value of commodi- trust, not illiberal curiosity, respectties previous to exchange, adapted iog their motives of action, allow to, and expressed by means of the me to solicit that some one of your circulating medium ; in other words, numerous and learned Correspondit is the quantity of money the sel- ents will gratisy me with an explanaler expecís to obtain for his commo- tion of the cause (loog sought by me dities, first settled or measured by in vain) which induced the celebrated their relative value, compared with Dr. Parr to republish the Warburother commodities, and the equiva- tonian Tracts in 1788, and inflict so lent, or money, lo be received in ex- severe a chastisement on the very inchange.
genious and learned Bishop Hurd? I Price is neither money, nor the have been told with a confidence, and commodity; we must not confound from an authority that I cannot disit with the equivalent, or money re- regard nor gainsay, that the reason ceived in payment; every cominodity assigned for Parr's hostility by the has a price distinct from what it may lively and (generally speaking) very sell for; it frequently happens that accurate Mr. D’Israeli, in his Quara the possessor cannot obtain the price rels of Authors, is totally misconin trade or barter, I mean its value ceived and inaccurate ; nor, in truth, in money, and he may be compelled is the reason there assigned an ades by circumstances to part with it be- quate key to the wounded spirit and low the price.
deep-mouthed indignation of the eruI am aware what it sells for is fre. ditė Editor of Bellendenus, who, bequently termed the price ; but is that ing a most good-natured and benevo. definition correct ? We frequently lent man, would not have sprung hear of goods selling below the fair from his lair, surely, with such a market price, or the raled value in fierce and iinpetuous bound, from an money, equivalent to their cost and impulse so trifling. There is no a moderate profit ; and the same com. doubt but that Hurd, in consequence modity has several prices on the same of this dreadful castigation, altered day. To the bands of the importer very much the Life of his friend Bp.
230 Bp. Hurd. — Welsh Musick.- Indian Missions. [March, Warburton, which he was then ev- enemies, led to right and justice ; gaged in writing. Had Parr found for this reason the musical courtier in that Life the speers upon Dr. John. was to go into the fields of the Engson's fame, which he expected to find lish while war was waged; he was an there (for the Right Rev. Biographer officer lo sing the praises of the an. disliked exceediogly, and spoke, they tient Monarchs, that the people might say, with habitual disrespect of the be stirred up to speak of and to reta in critical powers, as well as of the style in memory ihe great exploits of their of that eminent Author), it was his forefathers, that being charmed with seltled intention to enter upon an en- their beroism, they might emulate larged view and disserlation on the them. The antiept Germans were genius and character of Warburton. also of those who sung in the field of How splendid and appropriate an battle, in the same maduer. arena would this have been for his As probably the old Tune is not deep and various learning, critical quite lost, it may reach the ear of acumen, rich eloquence, and powers some of our great Musicians of the of gorgeous declaination! But Hurd day, and thus be revived. has not mentioned the name of John. Yours, &c.
JOHN GRIFFITH. son in his Life of Warburton; nor (stranger still) does the pame of this Mr. URBAN,
March 6. bis illustrious contemporary and The Church Missionary Society,
in other of his works. The reason is, stated that they cordially embraced that he was afraid of hin, whilst an opportunity of tendering the as alives and when he was gove, had too sistance of the Society to the importproud a feeling and too correct a ant design of the Lord Bishop of taste to trample, before the public Calcutta for the establishment of a cye, on the carcase of a lion, before Mission College near Calculta. The whose living presence he had crouch. wisdom of his Lordship's plap comed.
T. W. mended itself to every competent judge.
The Committee could not Mr. URBAN, Fetter Lane, Feb. 22. Blewilt's Buildings, witness without gratitude the general
interest manifesting itself throughout M
UCH has been said about the the kingdom in favour of the incorIn looking over my old books, I of the Gospel in Foreign Parts; and found an account of their chief tune, contemplated with pleasure the reanamely, Unbennaeth prydain K. H. diness with which it had adopted this used to be sung by Bard Teulu. It proposal of the Bishop of Calcutta, would be in vain for me lo say much and the promptilude with which the about it, after what Tacitus and Dr. Society for Promotiog Christian Woltoo say on the subject. Dr. Wot. Koowledge had agreed to support ton says, while the domestic Bard the same design. 50001. of the was singing what was particularly funds of each Institution have been called the British Monarchy ;' but ra-, devoted to this object. Desirous of ther in that time these Bards or co-operating in the great and comPoets were held to sing in praise of mon cause, the Committee made a British Monarchs, io which character like grant of 50001, for the same purthe Bard was sent out as the Mo- pose, and empowered the Society's narch arbitrator; he belonged to the correspooding Committee at Cal. Monarch in that manner, and for that cutta io express to his Lordship ils
These feats were done in respectful acknowledgments of the those parts of Eogland over which he enlarged views so emioeotly displayed ruled.' The English were considered in his plans for promoting the conconstant enemies, because, upon their version of the native population of borders they had driven them from India, and to request that he would their own country, and from their be pleased to accept the said sum of pleasant and fruitful fields, - there. 50001. in furtherance of this object. fore their grandfathers, and all the That sum has been vested in govern. Lords of the island, were heard aod ment securities, awaiting his Lordjudged, that war and rapine upop their ship’s disposal. lo the Letter from
1821.) Mission College at Calcutta.-British Topography. 231 the Church Missionary Society, dated lo a former Letter his Lordship July 17, 1819, the Rev. Josiah Pratt, bore testimony to the actual state of in communicating to his Lordship the our Eastern empire thus: “With reResolution, adds, " I cannot but ex. ference to the sufety of the measure, press my earnest hope that it may I can feel no embarrassment; the danplease God to grant His blessing to ger, generally speaking, of attemptFour Lordship's plan, and fulfil your ing lo propagate Christianity in this utmost wishes for the beoefit of In- country, is not the difficulty with dia."
which we have to contend ; ordinary The Calcutta Corresponding Com. discretion is all that is required; and mittee in their Letter, dated Dec. 27, every proceeding I should cousider to 1819, conveying the above communi- be safe, which did not offer a direct cation, add, it is their desire that and open affront to the prevailing suthis sum be placed at your Lordship's perstitions. In any attempt to enentire disposal at such times and in lighten, to instruct, or to convince, such manner as you may direct; and experience has abundantly showo that we are accordingly prepared to fulfil there is not the smallest ground for their wishes, whenever we may be alarm ; and this I believe is now adhonoured with your Lordship’s in- mitted by many, who once regarded structions. It cannot be necessary to such attempts with manifest appreadd the expression of our high satis- bension. A more remarkable change faction in being the organ of such a of sentiment has seldom been effected communication. Our own feelings within so short an interval.” are entirely in unison with those of I have sent you these extracts from the Society, for whom we have the a conviction that yourself and your honour to act; and we cordially re- numerous readers will participate in joice in the Christian zeal and libe- the general satisfaction at viewing rality with which your Lordship’s the salutary and benevolent steps grand Missionary measures have been which are thus in due progress in encouraged.”—This Letter was sign. British India for spreading the Gosed by G. Uduy, J. W. Sherer, D. Cor- pel of Peace without coercion of any rie, J. Parson, T. Robertson, T. Tho- kind, but by the mild precepts of the
A. H. The Bishop, in his reply, dated at Chouringhee, Dec. 27, 1819, after Mr. URBAN,
March 7. acknowledging the above Letter, S an ardent lover of Topography adds, “It can hardly be necessary to I feel highly gratified by observ., assure you that I have derived the ing that the Local History of our Island bighest gratification from this intelli- has of late years claimed the atten. geace. I thankfully accept, and will, tion of the publick, and especially with the Divine blessing on my en- that gentlemen have become authors deavours apd purposes, faithfully ap- in this departinent of Literature ; for ply this munificent donation. At the they alone are enabled to contribute same time I rejoice to learn that your lo those expenses which are necessary On sentiments are so strictly in uni- to illustrate the antiquities and bioson with those of the Society for graphy of a county. Several County which you act; and I thank you for Histories are now under the Press, and the expression of your satisfaction is conducted by gentlemen. The Histhe encouragement afforded to mea- tory of Hertfordshire, by Mr. Clutsures, of which Providence has vouch- terbuck; the History of Durham, by safed to make me the humble instru. · Mr. Surtees; the History of York. ment, and which I fervently pray may shire, by Dr. Whitaker : and the Hig. redound to the glory of God upon tory of Cheshire is terminated by Mr. earth."-Sigoed, T. F. Calculta. Ormerod; and that of Ancient Wilt
The Associations in all parts of the shire by Sir Richard Colt Hvare, bart. country have expressed their cordial who is eagerly promoting a Modern joy in this measure, as uniting the History of this county: To these Imembers of the Church in the pursuit may be added, a new History of Coroof one great common object, by means wall
, -- the first volume of an exably conceived and admirably adapted tended History of Northumberland :to the present and growing wants of a long-expected History of North
amplonshire, by Mr. Baker; -- and
232 On British Topography. - Wantage Cross. (March, many detached Descriptions of single a clear and quiet sky, and pot always Parishes. The Antiquarian world stands live in clouds of tempest. highly indebted to Mr. Britton and It is to be hoped, during the future other authors, for their graphic illus- progress of this fine Topographical trations of our splendid Cathedrals, Work, that more attention may be and Monastic remaios; aod a very in- paid to its graphic illustrations : the teresting accession has been made to County of Durham possesses many our antiquarian knowledge, by the five subjects ; and the Views of its Views in Normandy (now under pub. Town and Cathedral, from several lication), by Mr. Cotman; and the adjacent parts of the couotry, are unTour in that country, by Mr. Dawson rivalled by any other city. These scenes Turner. But whilst I commend the zeal we hope will not escape the potice of of our Topographers, I am under the the Author; and I beartily wish bim necessity of condemping the choice of both health and energy to prosecute the materials which tbey bave select- and bring to a happy termisation the ed for illustration ; for I have fre- laudable and arduous uodertaking be quently observed much fine engrav. bas commenced. ing wasted upon an indifferent sub- I am also sorry to animadvert on ject; whilst others, far superior in another splendid Topographical Work merit, have been neglected. Nor do now in progress, i. e. Dr. Whitaker's I think that sufficient attention bas Yorkshire. In Part III. Mr. Turner been paid to the portraits of distin. is again too confused, and too much guished personages, especially of those in the clouds, and much good enwhich have never been engraved. graving is lavished on Romoldkirk They are fil subjects: Biography and Church, which has no picturesque or Topography should go band in hand. reinarkable feature to recommend it. I am led to these remarks by the Yours, &c.
F.A.S. inspection of the Second Volume of Mr. Surtees's History of Durham ; Mr. URBAN, Rodmarton, March 8. from wbich we had every reason to
WRITER in your Magazine for expect Illustrations executed in a very superior style, as I understand that a and signs bimself “ H. W. B.” bas handsome subscription was made by brought to your potice an error in ibe gentlemen of the couply for that the " Magoa Britannia,” published by purpose.
my late most valued Brother and my. For the landscape department, Mr. self. It is an error for which I am Turoer was very properly fixed upon solely responsible, as the whole of as the painter ; and to Mr. Blore, a the parochial history bas always been very ingenious artist, the architectu. under iny department. How it oriral department was consigned. ginated, wheiher from the inadver
There are tbree large plates of the tency of the writer, or of the printer, former in this Volume, all of which at this distance of time it would be will, I think, bear a just criticism. impossible to ascertain; but I flatter In the first view, the priocipal feature myself that it must be palpable to of Raby Castle ought to have been most readers, that the present tense considered ; whereas a pack of fox bas been substituted for the past by a hounds is made the principal, and the mere ioadvertency; and that I should noble castle a secondary object. not have quoled a MS. of 1644 as
Io the second View (Hilton), we authority for the present existence of live in a mist, and the plate appears the antient Market Cross at Wantage. to be only balf finished.
The inscription was professedly coIn the third (Gibside), there is the pied from Capt. Symonds's MSS. and same fault, the view is monotonous, quoled as so copied. The fact is, and indistinct; and the three partake that I was several days at Wantage, of the same defects.
when making collections for that Mr. lore's subjects are very beatly town and neighbourhood in 1800, drawn and engraved, but wani force. and well koew that the Cross did not
I have too good an opinion of Mr. then exist. Had it been otherwise, Turner's knowledge of his art, to sup- it has never been my practice to de pose, that he will rest satisfied with scribe the existing state of things, but ihe engraving of these plates ; at the from my own personal observation, same time I could wish that this able
or very recent authorities. artist would sometimes treat us with Yours, &c. DANIEL Lysons.