"This Bill (Mr. Peel's) was grounded on concurrent Reports of both "Houses; it was passed by unanimous votes of both Houses; it was, at the "close of the Session, a subject of high eulogium in the Speaker's Speech to the Regent, and in the Regent's Speech to the two Houses: now, then, I, "William Cobbett, assert, that, to carry this Bill into effect is impossible; and "I say, that, if this Bill be carried into full effect, I will give Castlereagh "leave to lay me on a Gridiron and broil me alive, while Sidmouth may stir "the coals, and Canning stand by and laugh at my groans."-Taken from Cobbett's Register, written at North Hampstead, Long Island, on the 24th of September, 1819, and published in England in November, 1819. TO THE MONEY HOARDERS, On the Reduction of the Interest of the Debt. Kensington, Feb. 28, 1822. MY SENSIBLE FRIENDS, last summer and last fall, and who kept their stock, after all my warnings, now enjoy the fair fruit of their folly, their obstinacy, and, indeed, their greediness and real dishonesty; for, every soul of them, who, by his or her own act, or consent, is, in this way, a par R Printed and published by C. CLEMENT, No. 183, Fleet Street. taker in the fruit of the people's this misery of the labourer and earnings, does, in fact, desire to artisan, this ruin and degradation live at ease on the labour of of the middle class; they know others. Every one, who is volun- that all this has been caused by 典 tarily a fundholder, does volunta- the system which they uphold, rily assist in upholding that, which and by which they are enabled to has sent millions of the labouring get three times as much as they, classes to an untimely grave on any just principle, ought to through the means of starvation. get; and, knowing all this, they No voluntary stock-holder will ever make me believe, that he is a just man. He knows well, that his high rate of interest is unjust; he knows, that it is against all reason, all the principles of naturál justice, all the rules of civil cry out murder, the moment it is proposed to make them abate, though in a very small degree, of their exorbitant and really iniquitous and cruel exactions! Well enough night the reformers, in 1817, call the fundholder "a rapacious creature;" and, the on record a trait of their disloyalty, and of their rebellious intentions. society heretofore known amongst men, all the laws and ordinances Lords, in their Report, have only of God, that a band of money-put on record the justice of the lenders should have a mortgage reformers, while thinking to put on the labour of man, and even on that of the child in the cradle. These stock-holders all know, that nine-tenths of the people have not more than half a sufficiency of food; they all know that thousands of industrious tradesmen and farmers have been ruined, the interest of the Debt. That it and that hundreds of thousands is compulsory every body must must be ruined; they know that see; that it is a deviation from The measure, which now agitates the minds of so many persons; I mean the reduction of the interest of the five per cent stock, is the first step in the reduction of the terms, settled by the acts of would never go into full effect, parliament, is clear as day-light; without a reduction of the interest that it will serve as a precedent of the Debt. The cry of" national faith" has, upon this occasion, been set up. for further reductions at no distant date may and must be regarded as certain; and the only But, does national faith demand, fault that any just man can fiud of that the fundholder should receive the measure, is, that it is not three for one? And, what a pretty general, and does not extend over legislature this must be that makes the whole of the funds. But, I laws for us, if it have power to am not in haste to join in the pre-bind the nation to its ruin, and sent clamour against the Minis- even its annihilation as an indeters. They have a most "rapa pendant community! The first cious creature" to deal with. They duty of every government is, to have an “all-devouring monster" provide for the existence of the to snatch the prey from. They nation as an independent state. must proceed, unless they have a And, in case of war breaking out reformed parliament, with great now, is it not manifest, that the caution. They must get on with Government could not possibly the monster as well as they can. provide for this object, and pay They will be able to do very little the interest of the Debt too? in this sort of way; for another Ought it not, therefore, now, touch or two will make the whole while we have peace and tranthing crumble to pieces in their quillity, to be preparing thus for hands. But, at any rate, here is the contingency of war? Or, is. so much snatched from the mon-there a wretch still to be found, ster's jaws; and, for this, I thank the Ministers. I thank them, too, for having fulfilled my great prophecy, namely, that PEEL'S BILL the consequence be our actual capable of asserting to our faces, that we shall pay as long as we have any thing to pay with, though subjugation? The next duty of of the two, existing, as it does, every Government is, to provide wholly on the toil of a half-starved for the happiness, as far as human people. This latter aristocracy, wisdom can go, of the whole of the besides its all-devouring quality, people. And, how is a people to is most pernicious in the way of be happy, if the millions who la- moral example. Founded in bour are deprived of a full half of gambling and deceit of all sorts; the fruits of their labour to sup- owing its elevation to no quality port in comparative luxury the but such as men ought to despise; hundreds of thousands who do not sprung up like a mushroom withlabour? The experience of all out open and recognised cause; mankind proves, that rank in so- sticking up the sharp clerk, or ciety is necessary even to its har-the orange-boy, of yesterday, to mony and quiet, to say nothing of lord it over patient industry; that emulation, without which a laughing at the ingenious and the nation must become base and learned; it naturally and necesfeeble. Whether these ranks sarily disinclines youth to pursue should be marked out by what is the slow and rugged path to ease called aristocracy, may be a ques-and opulence, and as necessarily tion; but, if they be not positive, introduces a desire and a hope to they will still exist; and, those become suddenly rich by trick persons are very much in error who appear to suppose, that they do not exist in America, for instance, though there less, perhaps, than in any other country. But, one aristocracy is enough for one nation. We have two; one of and by fraud. The Devil is the God of the Stock-Exchange, and at his shrine are sacrificed, all that is due to probity, industry, ingenuity, learning and valour. What duty can, then, be more sacred, even if no particular cir title and one of money; and the cumstances pressed the thing upon latter by far the most oppressive it, what duty more sacred has a |