CLASSIFIED AND REVIEWED.

239

other words, the debtors of the Bank. Now it is very clear that the Bank held securities, in March, to the extent of nearly fortyfive millions; and it is equally clear that the Bank must have given value for these securities; and, therefore, if the Bank made only twenty-four millions of notes, they must have been issued a second time-that is, after they had been deposited in the banking department for safety, or for the convenience of the customers of the Bank. Then supposing that the Bank bought with these notes, in the morning, five millions of the consolidated debt of the kingdom; the parties who sold this debt, and received this money, having probably no immediate use for it, send these notes, or a cheque of equivalent value, to their Bankers; and in less than five hours the money is again re-deposited in the till of the Bank as private deposits. But is it to be argued, that because these notes are re-deposited with the Bank, they are not circulated?-certainly not; for they are as much in circulation as if the proprietors of these notes had kept them in their own iron safe: they may be called for at a moment's notice; and it will be quite out of the power of the Bank to retain them: ergo, they are circulated. The circulation, therefore, must be measured, not by the quantity of paper money manufactured, but by the many times that the same notes are employed; and this can be found only by looking to the amount of securities which the Bank holds. Here we will again refer to the Gazette of the 29th of March, 1856, wherein it appears that the Bank held securities as follows, say :

"Thus it is seen that the Bank was receiving interest on nearly forty-five millions of notes, while at the same time the Bank's circulation was called less than nineteen millions. He would be a clever man who could lend forty-five millions of money, on mortgage of estates, where he had only nineteen millions of money to carry out the operation! For a security implies the mortgage of something either of the Public Debt, or Bills of Exchange, or Shares in Railways, &c. We must therefore consider that the word circulation is quite a fallacy, if taken in the sense the Bank Directors wish to convey it: viz., as stated, thus :

and saying nothing about how often these same notes have been employed, and again re-deposited with the Bank."

To rectify all these evils the author proposes to refuse a renewal of the Bank Charter, and to pay off Bank Stock:

"To conclude: if this country does not pay off its debt to the Bank, it can only be compared to an improvident man, who prefers lending money to his neighbours, instead of paying his own just debts. We are told that this nation has always thriven under the present system, and therefore there is no need of any change: but we must remember that the industry and ingenuity of the Saxon race will surmount almost any difficulties, however unjust and tyranous such difficulties may be; and particularly so where progress and profit are the reward. The prosperity and greatness of the nation, then, can be no argument in favour of any abuse. By such reasonings, half the legislation of the past century must pass for nothing. England throve before the passing of hundreds of the most important Acts of Parliament. Should this Bank Charter continue for another ten years (for it cannot, under any circumstances, last longer), there is no knowing what mischief-what ruin-may befall the kingdom."

The Trade Spirit versus The Religion of the Age. A Discourse. Edinburgh Hogg. 1856.

This discourse is a severe, but scarcely too severe, diatribe on the spirit which it describes. Such books as "The Successful Merchant," who, be it observed in passing, was not a merchant at all in the higher sense of the word, but merely a tradesman,—have done great mischief, by holding out to imitation, men whose only notion of business was, that they were to get money by means of it. Our author observes :—

"We are deeply infected, as a people, with the worship of wealth. This is a result, mainly, of the trade spirit and success in trade. It is also, by its reactive influence, one of the chief causes of the insatiable cupidity, the unbounding grasping worldliness, which is so prevalent in trade. Man, doubtless, will have somewhat to admire, to glory in;' and if he rise not to the apprehension of those nobler objects which should fill his soul, he will yet with a childish interest rejoice in the gewgaws and rattles of earth. The object varies with the times. Brute force and skill in arms were the admiration of the dark ages; now, in an age of commerce, it is success in acquiring gold. It will not be said that the one is much better than the other: calm reason, as well as Scripture, condemns and repudiates both.

66

The growing separation of classes, according to the dying words of the late lamented Justice Talfourd, is one of the greatest and most ominous evils of our time. The cause of that alienation it is not difficult to discover. Money is at bottom the standard according to which men are gauged, and stamped, and labelled; and he who is destitute of money must submit to be deemed of no ac

CLASSIFIED AND REVIEWED,

241

count.

Man is estimated not by what he is, but by what he possesses. His essential character is quite overlooked; and he is absurdly reverenced or despised on the ground of mere accidents of position. Our feelings are perverted as well as our judgment.

"The disease which thus rankles in society, has also begun widely to infect the church. The man with the gold ring' and the gay clothing' has a marked supremacy of honour and influence; the poor man, living from hand to mouth, in daily dependence on Providence, has neither influence nor regard. Nor is it to one sect alone that this description is applicable: an idolatry of wealth, and an itch for outward distinction, is the sin of all religious parties alike. To keep their ground in the locality or the country; to stand well in the eyes of the general community; to show how much of wealth and political influence they possess; and to flourish individually at the expense of their neighbours-robbing Peter to pay Paul'-would seem to be the wretched aims of all sects now existing around us."

Very strong, but not too strong, is what follows:

"Here I should have been content to stop: but what shall we say of the positive, formal immoralities of trade, now grown so enormous as to excite the attention of statesmen, if not the concern of the church; the lies, frauds, and impostures, which have now on every hand attained such a prevalence, as to make it a grave question whether the world is not such, that sin is necessary to succeed in it; whether it be barely possible, for a man to be at once a successful man of business and a conscientious man of God. On this disgusting and appalling subject, I know not how to speak. Were it but one or two notoriously wicked men that were guilty of those practices, it were easier to denounce them with some hope of effect; but it is our decent church-going people, shaven, sleek, and demure in their pews on Sunday, yet during the week resorting to artifices to which no honourable or ingenuous man could stoop; nay, quietly perpetrating villanies and iniquities greater than those that have sent others to the hulks.

"I use strong language; but not one whit stronger than the plain facts demands. The trade-advertisements that appear in every newspaper, it would make one blush for humanity to read; often downright lies in so many words, often so worded as to convey an impression, the making of which is in effect a lie; and these, too, emanations from men who would take it much amiss to have their Christianity questioned, or their right to hold up the head in the street. Obnoxious, from deliberate conduct, to the vilest epithet in the language, men will yet carry it as if followers of all that is honourable, ay, and heirs of that kingdom into which, we are assured, no liar' shall enter. The process by which they thus impose on themselves, or are blinded' and imposed on by the 'god of this world,' it were curious to trace. The subtleties of the school-men are nothing to the sophistries with which men vindicate

VOL. XL.

R

their iniquity in the pursuit of trade. The adulteration of goods in this country, has proceeded to such an extent, that of nothing that a man purchases can he be sure that it is that for which he buys it. This detestable practice, also, men contrive to reconcile with a profession of religion. The Christian man, with his eyes open, drugs and deteriorates an article; defrauds, and perhaps poisons the consumer; and if it be only done quietly and discreetly, does not find himself to be less a Christian than before. Petty dealers increase their gains in this way. Heads of extensive concerns,' that roll weekly in their chariots to church, grow rich on the nefarious traffic, and are worshipped for their wealth. With all the excuses that may be offered for it, this is one of the blackest and most damning features of our moral state as a people. It plainly shows, in particular, that the spirit of trade, at this moment, is impatient of all moral restraints; and that, if the strong arm of human law were only kept at a distance, there is nothing, however iniquitous or atrocious, that would be allowed to stand in its way."

We do not go with the author altogether in all that follows; we think that there is really an increasing spirit of vital religion among us; but mammon worship is the worship of the time, and we are glad to find it dealt with as our author deals with it.

"The position of religion in Britain at this moment is peculiar ; not quite discouraging, but such as to call for solicitude. It would seem to indicate, that God, in his providence, is calling his church to the performance of a great work; according to her fidelity and success in which, the present critical state of her interests will be fruitful of issues of good, or of evil, for a long period to come. Never was vital religion at a lower ebb in this country than now; yet never was there a more general disposition to treat religion with unfeigned respect. There are few instances of very decided, much less of eminent godliness; yet men are nearly unanimous in thinking well of religion, and all the better of a man that makes a credible religious profession. We cannot long continue in this state. If the church does not take advantage of the flood of general feeling now in favour of religion, and seek to get men thoroughly imbued with its spirit, a re-action will occur; and the world, disgusted and wearied with empty profession, will overwhelm religion and its professsors with scorn. A thoroughly Christianised society, or an exasperated infidelity, is the alternative we must speedily meet.

"Our churches owe a great duty to society; how they may best perform it, I shall not attempt to say. They must first, it is probable, see to themselves, that they really are what they profess to be,-make themselves what they should be, and then God will honour them, for they will be morally fit, to operate with effect on the world. The sight of things as they are, is sufficient to drive

CLASSIFIED AND REVIEWED.

243

men into unbelief, if not into blasphemy; for, unless in the case of those who have been taught, and imbued with the spirit of religion in childhood, it is difficult in after life, amid such imbecility and gross inconsistency, to believe that the whole affair is anything else than a lie. If religious convictions and feelings still arise in the breast of the man, he has yet no disposition to identify himself with the selfish and clamorous sects, and hollow professors around him; but stands aloof, with a contempt and disgust of them, better founded it may be-and we are sorry to say it-than the ready reproaches of atheism and infidelity they will hurl at him.

"Political economy has more to say than she has said, respecting the whole subject of man's social existence-as regards alike means and results-the production, the distribution, and the consumption of our entire artificial pabulum; and her final deliverance, whenever elicited, will be found exactly to tally with, scientifically to vindicate and enforce, the whole course of human action now enjoined by religion. Consciously or not, the philosopher will co-operate with the religious teacher. Pursuing different objects, they will yet meet at the same point. Profit will be seen to be co-ordinate with duty. And science will unite with faith, in putting a stop to disorder and suffering, and establishing the reign of right and of happiness among men.'

V. POETRY.

Plain Rhymes for Plain People. By Mrs. Joseph Fearn. London: Partridge and Co. 1855.

In these days, when the Word of God is either openly repudiated, or secretly neglected, and when tracts of an impure or frivolous tendency are sought for with avidity, we hail such a pamphlet as the above, which we have read with much pleasure, and which we can most safely recommend as an auxiliary to the acquisition of saving truth. The object of the writer is to embody in simple verses the sacred narratives. The present tract includes the Book of Genesis, and her aim, we believe, has been to direct the readers of that class for whom the Rhymes were written, to the fountain of God's Word itself, from whence she has derived her materials. We find by the title page that it is "adapted for Sunday Schools," but we think it equally suitable for all sections of the poor and simple masses of our population. We have known Mrs. Fearn for some time through the pages of Christian miscellanies, especially those of the Church of England Magazine," (a writer in which first suggested to her mind the plan of this little work), the " Church Sunday Scholars' Magazine," and the "Servants' Magazine,”- in