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Unhappily there are classes and dis- was inquired into, and these åppear. tricts of the kingdom which have not ing the most eligible investment, com- , so fully partaken of the general pros- petition increased in that direction. perity, but this is a drawback we re- Buyers of stock became more numerserve for special notice, and shall at ous than sellers, so that the stocks of present direct attention to the auxi. the higher denomination rose above liary aid afforded by increasing riches par.
Of this favourable aspect in in the further reduction of the charge the state of the money-market, sucof the public debt.
cessive Chancellors of the Exchequer As national wealth increased, the have availed thsmselves; and, by interest of money declined, and this offering to the holders of the Navy declension has formed the sole ful- Fives, and other high-priced secucrum by which the dividends of the rities, the alternative either of an public creditor have been brought abatement of interest, or the acceptdown. Capital increasing in amount, ance of the principal, have effected the profit to be realized from its em. all the reductions that have been ployment in agriculture and com- made in the charge of the debt. merce became less.
Other objects In this way have been accomplished were sought; the state of the funds the subjoined abatements:In 1822 the Navy Five per Cents. were reduced to four per cent., effecting a saving of
£1,197,022 In 1826, Four per Cents, reduced to 31. 10s. ; saving
350,597 In 1830, Four per Cents. ditto; saving
755,110 In 1834, Four per Cents. ditto; ditto
53,116 In 1844, Three-and-a-Half per Cents. reduced to 31. 55. ; saving 630,000
£2,985,845 So that an annual saving of nearly and-a-half per cent. As the times three millions has been made in the continued to improve, and riches to charge of the debt, and to such re. flow in, the operation might be re. ductions there is no assignable limit. peated, till by successive abatements, If peace continue, and, as the natural
the general interest of the debt was consequence, referring from the past, reduced to one, or a quarter per cent., the wealth of the country continue to or virtually extinguished. augment, it is impossible to foresee In this way, by the mere prolonthe minimum rate to which the in. gation of peace, with its attendant terest of money may be reduced. It adjuncts, might this great national may fall to three, two, one, or even a incumbrance be paid off'; or, what to half or a quarter per cent. But the community would be equivalent would not the present or future relief, the dividends brought down Chancellors of the Exchequer take almost to zero, leaving, undoubtedly, advantage of these favourable junc- the public creditors ostensibly not in tures? Assuredly they would. That so favourable a pecuniary position, great mass of stock, the Three per but richly compensated by the Cent. Consolidated annuities amount- general joy around them, occasioned ing to £337,166,317, would rise above by universal abundance, contentment, par, and might be reduced to two- and low prices.
Thanks to the Giver of all Good, from our view. Peace abroad, esthe whole of our political horizon tablished upon principles of reciproscarcely presents a cloud, save one or cal good-will that afforded the best two slight specks that are rapidly pledge for its permanent continudiminishing in distance, and upon ance-peace at home, resting upon a the very verge of sinking altogether basis no less firm the real substan.
tial union, and concurrence in the legislature, the executive, and the same honourable pursuits of industry affluent, thus encouraged, are perseof all classes of the people.
vering, and, under the providence of Diminished crime, to be for the Him who has prompted them so far, first time noticed in the records of a they will persevere.
They have nation advancing in population, and made the discovery- -a discovery, material wealth, and in refinement. alas! too long concealed or neglected, Improved education.
that the character of the humble class Commercial prosperity unexam- of Englishmen comprises all the elepled.
ments of goodness that can be found Financial prosperity never in human nature, and comprises them ceeded.
probably in richer abundance than The disturbing influences that they can be found in any other order threatened disorder or evil-the Re. of mankind. Our people are natupeal Association, the Anti-Corn-Law rally patient, laborious, enterprising, League, the Tractarian Heresy-all, firm lovers of truth, just, grateful, if not extinct, staggering under the affectionate, merciful, and with the death-blow.
strongest tendency to religious feel. Under such happy auspices opens ing. These are the materials upon year
which commenced yesterday. which those who wield the power of Have we not, as a nation and as in. the community, whether they are in dividuals, a solemn duty to pour out public or in private stations (and imour hearts in thankfulness to Him to measurably the greater portion of whom all this is due? Have we not that power is in private hands) have new cause to cherish the religious to deal; and, for the result, they who duty of hope-additional reason to have the power owe a heavy responabhor the sins of " fearfulness and sibility here and hereafter. unbelief?” The history of the last It is, indeed, the most gratifying of few years tells as plainly as if the all the signs of the times, that men truth were written in characters of
are coming to acknowledge that reslight, that our confidence in the mer. ponsibility, and to act upon it, and cy of our Creator, and in the practi- that in defiance of the rebuke of the cability of improving the moral and enemies of the poor-such diabolical material condition of our fellow-crea- anomalies exist-in men who would tures, ought to be unbounded.
The keep down the wages of labour upon numerical diminution of detected principle. In defiance, too, of the crimes in the last year—a diminution sneers of the professional fault-finders absolutely considerable, but much --the “ many who have pleasure in more considerable when we take it
vanity, and seek after leasing, and into account that every day adds to say, Who will show us any good?" the amount and efficiency of the -in defiance of all these, we see means by which crimes are detected
men rising on every side, and de-this single testimony to the change voting their time and talents, givin our social state, proves all that we ing of their substance,” to promote claim to have conceded; proves, that the moral and physical improvement if only the legislature, the executive, of the condition of our humbler counand the more affluent classes of the trymen, while we rejoice to see the nation do their duty, the people may bright example of the Sovereign, and be indefinitely elevated in the moral the anxious care of her ministers, scale. The legislature, the execu- freely given to assist in the sacred tive, and the affluent classes have work. Much has been already done begun the work, and they are already for the education of the young in witnesses to its great success; the schools, and of the adult in churches, current of crime, which from the and much more will be done; but as beginning up to the present time had one useful discovery always leads to been increasing, has been effectually another—as one work of mercy is checked, has been even made to re- sure to open the way to a second, it trograde. Is not this the highest of has been found that a formidable encouragements to persevere? The obstacle to education, whether infant
or adult, presents itself in what is disdained to follow up the discovery, otherwise a source of cruel suffering by the commencement of a practical to the poor, and a frightful source of remedy, and have ascertained that danger to all-the want of domestic the mighty social revolution which is accommodation suited to human be- to ameliorate the condition of millions, ings, suited to any creatures above which is to demand no sacrifice from the beasts that perish-indeed, a man any one, will, after the expense of " merciful to his beast” would not the first experiment, cost less than lodge the animal, as some of our nothing. The phrase is a strange countrymen and countrywomen are one, but it conveys the truth, for lodged, in styes, and garrets, and that which must yield a large profit, cellars. This is one great, and, as the proposed plan of comprehenindeed, the only remaining obstacle sive building for the poor must yield to that progress of education, the end one-truly costs less than nothing. of which presents a prospect so glo. In congratulating our readers upon rious. But the domestic condition is the glorious auspices under which the root of the man, and if you fix a the year opens, we have been uncon. man in a pig-sty shed, or in the worse sciously led, by our hasty glance at styes of St. Giles, because saturated the causes of the prosperity in which with moral as well as physical filth, we all rejoice, to the principal, if not you will in vain hope to educate him the only remaining work to be accomor his children. As well hope to plished, by that noble spirit of benegather fruit from a tree planted in volence to which we owe so much, the cinder-heap, because you water and to which the richest duke in the and prune it, as for moral improve. empire is not less indebted for his ment from the utmost efforts of edu- share in the general happiness, than cation employed upon the occupants the poorest labourer or artisan who of pig-stye sheds, or foul cellars and has been rescued from mendicancy. garrets.
To those who take the enlarged It is an occasion of no small pride view of society, it must be manifest to us that the St. James's Chronicle that the prevailing spirit of benevowas the first publicly to proclaim this lence is even more profitable in its last great discovery in the political general effect to the rich than to the statistics of humanity-others of more poor. influence, we rejoice to say, have not
(For the Christian Guardian.)
THE FAITH OF ENGLAND.
Who hath said, that the faith we have held until now,
Who hath said, it is dim as the wild fires that glide
Was it false, when it girded the fearful and weak
aggled with evil, and suffered it not ?
THE PRAYERS OF THE FAITHFUL.
(For the Christian Guardian.)
And whither dost thou go;
* Rev. xvii. 21.
From every land a fragment gleaned
Is gathered in thy train ;
Doth link thy golden chain.
Unheard by all, save One,
And claims him for his own.
The Hindu kneels him there No other form its plain beside
And lifts his evening prayer.
Lists to the wild bee's air,
Of one low murmured prayer.
The savage bends his knee,
And asks for grace from thee.
Beside the prairie-wood;
Lived, fought, and died for blood.
Th' effusions of one soul,
They reach their heavenly goal.
Though spake by differing tongues
Each now to each belongs.
One vast assemblage there;
The angel's offered prayer.
Telling our wants to Thee ;
In lowly secresy.
And wend their way to God;
And hallowed by his blood.