the experience of facts. The history of the colonies for many years is that of a series of loss, and of the destruction of capital; and if to the many millions of private capital, which have been thus wasted, were added some hundred millions that have been raised by British taxes, and spent on account of the colonies, the total loss to the British public of wealth, which the colonies have occasioned, would appear to be quite enormous. The only conditions on which it can be wise and politic for us to continue to keep colonial possessions are, that the number of them should be greatly reduced; and that those which we retain should contribute the whole expense incurred in their defence. Even with such conditions, no advantage would be gained, now or at any other time, unless the planters should prosper and accumulate wealth, and thus add to the general stock of public wealth. It is in order to secure this object that the public is particularly interested in giving to the colonies the full benefit of that perfect system of free trade, which everything connected with colonial reform and retrenchment shows to be wise and politic. Dr. Chalmers, in referring to the peace of 1763, says, "The true objection to this peace was, not that we had retained too little, but that we had retained too much;" namely, Canada, Louisiana, Florida, Granada, Tobago, St, Vincent, Dominica, and Senegal. " Millions," he adds, “of productive capital were withdrawn from the agriculture, manufactures, and trade of Great Britain to cultivate the ceded islands in the other hemisphere; domestic occupations were obstructed and circulation stopped, in proportion to the stock withdrawn, to the industry enfeebled, and to the ardour turned to less salutary objects." In settling the conditions of the last treaty of peace, it was most unwise to retain so many of the conquered colonies. Trinidad, Demerara, Essequibo, and Tobago were but little advanced in cultivation; a large transfer of capital was necessary for their cultivation, and there was little or no local revenue belonging to them. At the close of the war, the East India Company was anxious to be allowed to have the Island of Ceylon, and it is not too late to give it up to them; but as large sums of public money have been expended since the war, in adding to its value, the Company should repay a large part of them, as the condition of becoming masters of this island. 'As the cape of Good Hope and the Mauritius are of no use except for the defence of the East India Company's possessions, the Company ought to be called on to defray all the expense of their military protection; and it is to be hoped that the opportunity, which the expiration of the Charter of the Company will offer, will lead to an arrangement which will secure all these objects. When peace was made in 1814, the English government wished to let Austria have the Ionian Islands, but France would not agree to this arrangement. There can be no real use in keeping these islands, with Malta and Gibraltar in our hands. 'The settlement of Sierra Leone, and the military posts on the west coast of Africa, should be given up. The public derives no benefit from these possessions, either in a commercial or military point of view; and with respect to the slave trade, the use they are of in contributing to put it VOL. XIII. 2 P down is so questionable, as not to justify the waste of money, and of human life, which they occasion. With respect to Canada, (including our other possessions on the continent of North America;) no case can be made out to show that we should not have every commercial advantage we are supposed now to have, if it were made an independent state. Neither our manufactures, foreign commerce, nor shipping, would be injured by such a measure. On the other hand, what has the nation lost by Canada? Fifty or sixty millions have already been expended; the annual charge on the British treasury is full 600,000l. a-year; and we learn from the Second Report of the Committee of Finance, that a plan of fortifying Canada has been for two or three years in progress, which is to cost 3,000,000l.'—pp. 249–257. Our author looks forward with well founded hope, we think, to the effect which the total repeal of the penal laws will be likely, in due course of time, to produce in Ireland, and which, he apprehends, will eventually enable the Government not only to do away with the already useless expense of a Lord Lieutenant, and other charges among the miscellaneous estimates for that country, but also to obtain from it a considerable increase of income. We should willingly follow our able guide through his chapters upon the national debt, upon future war expenditure, upon loans, upon terminable annuities, and the accumulation of capital, if we did not believe that we had already done enough to direct the public attention to this most elaborate, and yet most intelligible, and useful production. It must get into the hands of every body who wishes to become acquainted with our financial system. Even as a composition it may be read with pleasure, for, in this sense, it well sustains the literary name of Parnell. The pamphlet by A Merchant,' though not always correct as to style, is, considering its brevity, one of the best practical answers that we have yet seen to all the nonsensical clamours which have been spoken and written by town and country gentlemen, upon the subject of distress. It clearly developes the mystery of the war prices, which raised the rent-roll of the land-owner to thrice what it was in the days of his father, and of the fallacious state of things that was generally produced by the restriction of cash payments; the mushroom factories which were thus so rapidly raised, and the vast increase of machinery to which it gave birth. For these, and many other points, upon which the writer touches with admirable good sense, we must refer to the pamphlet itself, as we have room only to extract from it a table of the most valuable character, which shews the total number of persons to whom halfyearly dividends became due on the different stocks by the last returns, and specifying the number respectively, whose dividends did not exceed certain amounts. A simple inspection of this document will be sufficient to shew that any measure which would violate the public faith with the fund-holders, would not be a measure for the benefit of the poor and to the injury of the rich only, as is generally represented; but would, in fact, be one calculated only to disgrace the country, to serve nobody, and to defraud of a mere competency more than two hundred and eighty thousand persons, whose incomes from the funds vary between 107. and 6007. per annum. This table, we think, knocks in the head for ever all the declamations that are poured forth by tribunes of the people, and all the hints which are thrown out from more trivial quarters, about what is most iniquitously called an "equitable adjustment." ART. VIII.—The Diary of Ralph Thoresby, F. R. S. Author of the Topography of Leeds (1677-1724), now first published from the original manuscript. By the Rev. Joseph Hunter, F. S. A. In two volumes, large 8vo. London: Colburn and Bentley. 1830. IF the friends of sound and useful literature, and the enemies of these piles of trash, which, under the titles of "Diaries" and "Memoirs," have been for some years accumulating on the booksellers' shelves, were to pray for the publication of some work which would make manifest, even to the most stupid reader, the utter worthlessness of most of the volumes of this description which have recently escaped from the hands of the printer,-they could not have desired any occurrence more opportune for their purpose than the appearance of Ralph Thoresby's Diary.' It exceeds both in quantity and quality of foolishness, any book of a similar description which has seen the light since the days of old Angelo, the fencing master. At best, when we meet with an intelligible page or two, the silly trifles which they record, and the inconsiderable person who records them, combine, again and again, to force upon us this question,- for what end were so much paper, so much ink, so much steam wasted? What do we gain by reading on and on, wandering over a waste which is as desolate and as barren as the most sandy of the sandy wilds of Asia? Who was Ralph Thoresby ?-we asked; for we confess that the fame of his immortal book, the "Topography of Leeds,” published, we hear, in 1715,-a Topography which must be as good a guide through that smoky town now, as it would be through London,had never before reached our ears. Who was this Ralph Thoresby? His reverend editor answers, that he was the son of Mr. John Thoresby, by Ruth his wife, a daughter of Mr. Ralph Idle, whose residence was at Bulmer, an agricultural village, about ten miles north of York.' In 1677, his father, who was a merchant at Leeds, sent him to London, for the purpose of being brought up to the same occupation; and lo! here Ralph's Diary' commences. In the early part of his life, he was a furious Nonconformist. He subsequently gave up his connection with the Dissenters; but, if we may judge from his Diary, he spent the most of his time in London, listening to sermons, though occasionally he would, it seems, go to see a wild beast. 15th September. At home most of the day, reading in Mr. Clark's History, Mirror, and Persecutions. 16. Die Dom. Mr. Ralphson preached again for Mr. S. from Amos iii. 7; but not to my great satisfaction, seeming, though covertly, to infuse his own principles. 18. At the Glasshouse Lecture, forenoon, though it was thronged: could hear little at home in the afternoon. 22. I was most part at home, but might have improved my time better than I did; towards night I went with Elkana Boyse to Southwark, to see the elephant, &c.'-vol. 1. pp. 3, 4. If the reader be not wiser and better after reading this extract, we must try him with some others. Oct. 1. Most part of the forenoon at Guildhall, to see the sheriffs, in their pomp and splendid gallantry, go to take the oath at Westminster, &c. All the afternoon at home with Mrs. Mitley and Mrs. M. Madox, helping them in cutting paper, &c. After 2. Forenoon, heard Dr. Owen preach at Pinner's hall; but, to my shame I confess, how many thoughts and imaginations were in me. dinner, went to the Strand to inquire after crayons, but in vain. 3. Went thither again about crayons, and got sixty, a set, for 2s. 6d. and several in besides. Rest of the day at home.'-vol. 1. pp. 5, 6. Voila! Ralph Thoresby at Hull. July 4. I came with my father for Hull, and had a very good journey. 5. Forenoon viewing the town, and with friends, &c. most of the day; about six o'clock came aboard Thomas Scheman's vessel, was a little sick, (!) and then somewhat better again.' (!!!)—vol. 1. p. 16. These, assuredly, are circumstances in the life of our hero which it would have been most unpardonable in him to have omitted in his Diary. It is worth while to consider for a moment the dismal consequences that would have followed, if this apprentice lad, after becoming a little sick' on board Tom Scheman's vessel, did really not get somewhat better again.' Let us reflect upon this : and, reader, when thy meditations on this important subject are over, thou mayest behold our traveller at Rotterdam, whither he went in order to learn thoroughly the Dutch system of commerce. The following entries in his Diary are glorious specimens of its utility: 15. I went to Mr. William Brent's, schoolmaster, in order to my learning the Dutch lingua. 22, 23, 24, 25, 26, 27. (Where thinkest thou, ch gentle reader?) Most of time at school.'!!!-vol. 1. p. 20. Again, let us listen to his Dutch strains. Nov. 6. Die Dom. Very ill most of the day, sweating much in bed till four o'clock. 7. Somewhat better. |