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man, “ whether the demons of males might | ers shouting, as if intoxicated ; and while inhabit female animals.”

we listened, some began to beat at the gate; “Pray what conjurations have you in and presently it was opened and a number hand ?" said Lysis, continuing to laugh. of young men with garlands on their But seeing Diotima look offended, he mo- heads, came into the court calling for Diotioned the jester to continue his story; but tima. She immediately rose, and going to Cymon would not be put off, and ap- the door, they saluted her and threw their pealed with his question to the prophetess. garlands at her feet, and presented gifts of She assured him mildly,

wine and other delicacies; and one threw “Those who profess to know the na a rich robe over her shoulders, and kneelture of the good and evil demons, declare ing down kissed her hand as if she had they are of no sex, and can inhabit a been a princess. She received their gifts, male or a female body at pleasure.” and having dismissed them courteously, Meton objected.

returned to the banquet room, where her “ I feel certain to have seen women, guests were waiting in some wonder as to said he,“ possessed by the male demons, the result. When they saw her returning some good and some evil.”

with the purple robe upon her shoulders, But Diotima would not suffer him to having the air of a princess, they were proceed.

struck with astonishment. But she only “ I restriet you,” said she, " to the fin- dismissed them, after appointing another ishing of this story, for it is broad morning, day to finish her story, and bidding Cyand I hear banqueters going home from mon attend her in another apartment. the ward feast.”

Then having saluted her, they left the Just at this moment there was a noise house. of voices in the street, some singing, oth


The establishment of a people in the The arts which they pursue are well enjoyment of liberty and competency is known, and have not yet gone out of use. allowed by all writers to be the noblest But of that order of conquerors who busy work in which a man of great spirit can themselves chiefly about the foundations be engaged; but as the opportunity of of their own States, the world is not half composing constitutions and building up so well informed ; not because their work institutions of freedom is rare, and happens is any less difficult and praiseworthy than only once in a century or more, it well that of the warlike order, but that it rebecomes the ambitious spirits of those ages quires a subtlety and refinement of genius which offer none of these fortunate occa which historians either do not always apsions to look about them, lest, for mere preciate, or will not be at the pains to set want of occupation, they fall into contempt, before the world in a proper light. and play the miserable part of eulogists, A great politician, lately retired from and defenders of antiquated systems. Their ) office, and who employs the leisure of his only chance for distinction lies in being old age in reading, and meditation upon the first to pull down what their fathers his own experience, proposes to write a established. “Military conquerors of the volume for the use of statesmen, and for despotic order have rare opportunities of politicians, by which he shall guide them immortalizing themselves in this fashion. I to a more systematic and effectual de

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struction of their institutions, than they " To destroy the interests of a nation the ever could accomplish under the merely most effectual methods are obviously those natural impulse of ambition and the love which will sink the largest amount of of change.

labor and capital, or which will turn the We happen to be very intimate with labor and capital of the people into the least the designer of this treatise, which its au productive channels. This cannot be done thor means to entitle “ The New Machia- immediately, or in one generation, and the vel; or a Treatise on the Art of Destroying most that we of this time can do is to bea Nation from within." The first part will gin the work. be a profound essay on the nature and “Having by a judicious working upon uses of Opinion, and of the various arts of opinion, induced the people to elect an creating it. Of this portion a friend quite Executive sufficiently ignorant, obstinate, competent to the task, has promised us a and ambitous, you have then to provide a popular review. The author evidently suitable cabinet for guiding and instigatingregards it as the most important portion of You are to keep all real information out his work, for at the very page we find this of reach and hearing of your Executive, sentence, “ The Constitution and Laws of and fill his ear with continual flatteries, a people rest upon three columns : these so that his opinion of his own judgment, are, Prejudice, Interest and Opinion.” It where it is necessary that he have any, is unnecessary to remind the reader that be swelled to the largest. He wi}l then whatever rests upon three legs, if one be be in a good condition to use, for carrying knocked away, will fall to the ground. out your grand scheme. Our author believes that the Prejudices Having now got your Executive ready, of a people, which are quite distinct from and in good order for the work, you their speculative Opinions, are a main sup- must begin by setting him against someport of their government, and he proposes thing, with which he shall be heartily to devote a separate treatise to the art of angry. Anger and pride together, will undermining inherited prejudices.

make him


be either The third part is of the Interests of a some great public institution, as a legislaNation—in what they consist, and how they tive body, a moneyed corporation, a college, are most judiciously and easily brought to a church, or a neighboring State. If you the ground. As the practical experience can engage him in a little war,' be conof our author lies chiefly in that field, he tent: little wars always continue long, and having been the cause of undermining and cost more in the end than great wars, annihilating larger and more valuable Inter- which agrees with your main design. ests, than have ever before been ruined by “ It may be shown that wars of conquestany private adventurer, without detriment are the best in the world for

your purposes : to himself, may be regarded as perfectly forgood authority upon this topic at least. “1. They are the greatest destroyers of

One principal defect, however, has been property, by sinking productive capital in noticed by the judicious who have seen the maintenance of unproductive bodies of these treatises, and that is that the vener men, armies, navies, office-holders, and the able writer, while he tells us how to bring vast crowd of idlers that live upon their down the edifice of state in a tasteful and means while waiting for offices; which is a magnificent style, so as to make a very great consideration. fine ruin of it, neglects to show us how “2. By a national debt, inereasing the to “stand from under;" and while we read number of speculators, stock-jobbers, and “of trains and plots and machinations dire," the like. our enthusiasm is checked by the reflection “3. By®the sudden augmentation of the that some of these grand engineers might army and navy, a vast number of laborers, possibly be hoist with their own petards, mechanics, dealers and contractors, preor buried under a falling column. These, viously engaged in commercial or other it may be, are but the reflections of ner economical pursuits for the increase of vous and over-fearful persons. To give some national wealth, are now engaged in the profaint idea of the work, we subjoin a few duction of a surplus, which is to be conextracts from the plan.

sumed without render or profit to the nation.

persevere. This

"The surplus capital of the nation, which of the working classes generally, through would otherwise have been used for the necessary effects of taxation. the cultivation of farms, the building of “ If the nation enjoyed a free trade becities, the establishment of manufactories, fore the war, you will now find it necessary and the opening of new channels of inter- to raise your tariffs as high as possible ; an nal and external commerce, is now directed operation which will injure some nations upon the production of clothes, food, and benefit others; but by a skillful admunitions of war, forts, navies, &c., which, justment of duties you may succeed in instead of being a profitable investment for killing off some valuable manufactures the surplus of the national wealth, are in and stimulating others that will be of little fact a perpetual sink and drain, swallowing | or no value. Your main reliance, however, up in taxes for their after maintenance will be on taxation. The debt having been and support, those earnings of poor men, incurred, it must be paid ; but you will which would otherwise have just lifted bend all your efforts toward increasing the them a little above poverty:

number of the poor, who are always your “ This last effect is of the greatest im- very dear ends ; and what good man is portance to your scheme. We know there that does not wish to increase the very well, and you must not fail to per- number of his friends? To this end you suade the people, that a war stimulates will begin by taxing the necessaries of life, the industry of a nation, gives employ: food, fuel, clothes, &c., taking care to perment to a vast number of persons, and suade the people that the loss will fall upon employs a great amount of capital. It is the traders and producers, who will take not this first effect, however, but the good care on their part to sustain little or secondary consequences of war, which none of it. The man who saved forty dollars should occupy your attention—namely, a year will now save but twenty, and he that all this industry and wealth is em who enjoyed twenty will have nothing to ployed, so to speak, in digging a pit to spare ; he who lived decently and saved throw in the people's money,

nothing will now live meanly and have “ Having got your war well agoing, and nothing, and those who lived 'meanly and the public debts running mountain high, laid up no earnings, will fall into poverty, you will now observe a three-fold effect debt and dependence. Thus by your vast on the nation : first, a general stagnation army and navy you have not only conof business, following on the close of the quered the enemy and earned a great war; secondly, a large increase of crime name for yourself, but you have conquered and poverty, through the return of myri- and subjected a vast body of refractory ads of adventurers; lastly, but which will citizens, poor people, who will not fail to appear more slowly, the enlargement of swell the ranks of the Reform party, which the class of paupers, and the depression is always yours.


The late financial crisis has been the subject | then came the panic. The Bank is severely of long debate in the British Parliament. The blamed for having imprudently parted with matter was brought forward by the Chancellor their gold, and having afterwards too suddenly of the Exchequer on the 30th Nov., and com restricted their discounts, by which latter opermittees of investigation have been appointed ation a great state of alarm was created. On by both Houses. From the debate it appears the 30th July the notes in circulation amounted the ministers are of opinion that, although the to £18,892,000 ; on the 5th August the Bank pressure may have been ultimately aggravated raised the rate of discount to 5} per cent., and by the Currency Act of 1844, yet its real cause about that time the great commercial failures was an unprecedented drain on the available began; but these failures, with few exceptions, capital of the country, partly for the purchase were then confined to houses in the corn trade. of corn and partly for permanent investment in Between May and September the price of corn railroads, which began in the summer of 1846, had fallen no less than 50 per cent.; the averand acting on an unduly extended state of credit, age price in May being 1025. per quarter, and brought on the revulsion. In 1837 there was in September about 48s. The cost of corn a season of great commercial depression, which imported, from June, 1846, to Jan., 1847, was destroyed the houses whose credit was too £5,139,000 ; from January to July, 1847, much extended. In 1839 occurred a severe £14,184,000 ; and the amount from July to drain of gold for purchases of corn, but trade October, 1847, was as great as that of the prebeing in a healthy state the commerce of the ceding six months, viz., £14,240,000; making country was not very materially affected. In altogether an aggregate of about £33,000,000. October, 1847, the circulation in the hands of This was the cost of imports and freight, exthe public, including bank post bills, was clusive of profits made in Great Britain. The £19,577,000, being £3,000,000 more than at demand of capital for railways increased in a the same period in 1839; and the private secu like manner. The amount expended on railrities lodged with the bank were £21,260,000, ways in 1841, 1842 and 1843, was about also showing an increase of £8,000,000 above £4,500,000 per annum. In 1844 it rose to Oct., 1839; from which it appears that the £6,000,000, and in 1845 to £14,000,000; in pressure was not from the mere want of notes the first half year of 1846 to £9,800,000, and or bank accommodation. In the summer of in the last half year of 1846 to £20,600,000 ; 1846, the Bank of England had on hand a very in the first half year of 1847 to £25,755,000 ; large amount of bullion and a large reserved and, if the works had proceeded at the same fund; and they, in consequence, reduced the ratio, they would have required in the last half rate of interest to three per cent. There was year of 1847 no less than £38,000,000. Dealso at that time an accumulation of deposits ducting from this about 5 per cent., for Parof railroad money in the hands of the London liamentary expenses and land, which was not bankers, which enabled them to afford facilities a sinking capital, the sum expended on railto commerce, and made the money market easy. ways would amount altogether to between At that time there existed an unlimited expan- £80,000,000 and £90,000,000.

The large sion of credit. The harvest of 1846 failed and abstraction thus caused from the capital formerly the potato crop also, which caused a great at the disposal of ordinary commercial enterprise, drain of gold from the country for the purchase and the amount also converted into fixed capital, of corn ; and in this period the increased de were the leading causes of the pressure. mand of capital for railroads had begun to Want of confidence in the public mind, take place; and the consumption of manufac- also caused a large boarding of gold and tured articles diminished, in consequence of notes, which were thus withdrawn from circuthe high price of food. In January the Bank lation. Two of the great discount houses in raised the rate of interest, first to 3, and after- London stopped payment, the others feared to wards to 4 per cent. The drain of capital for act in such a state of affairs ; and thus the railroads and food increased ; and the rate of discounting business of the country was, in a interest in the money market (not at the Bank) great measure, thrown upon the Bank of Engbecame higher. One of the most important land. " At this time," (October,) says the railroad companies announced they were pre-Chancellor of the Exchequer,“ the Government pared to pay 5 per cent. for money on loan; saw parties of all descriptions, who said to us, the Bank fixed the same rate of discount, and • We do not want notes ; we only want you to

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give us confidence.' We asked, "What will state that commercial affairs have not improved give you confidence ?' They replied, “If we to the extent which the increased facilities for only know that we can get notes, that will be discount might have been supposed to warrant. enough. We do not want the notes. You In the manufacturing districts there is more emcan charge any rate of interest you please. ployment, more hands are employed, and the Charge 10 or 12 per cent.; we do not mean to short time system is being curtailed; but the take the notes, we only want to know that we produce markets continue depressed. In sugar can have them.'” Under these circumstances and cotton there is a decline, and the general the Government, on the 25th October, gave the consumption is much affected by the state of recommendation to the Bank of England re the public health. The fluctuations in the ferred to in our number of December last, when funds have been less considerable than for a large amounts which had been kept in the long time previously. On the 1st January hands of capitalists were again deposited with consols for the account were, 853.

The the London bankers, the amounts drawn from Bank of England has replenished its coffers to the Bank of England were very materially less- the extent of £11,991,376, in both departments, ened, and public confidence restored.

and the position of that establishment is conOn the 29th November, a bill for the sup- sidered safe and satisfactory. The Bank rate pression of crime in Ireland was introduced of discount was 6 per cent. on the 18th Dec., into the House of Commons by Sir George and was reduced on the 23d to 5 per cent. Grey, who stated that, so far from the disturb The influenza prevails very generally throughances being general throughout Ireland, in the out Great Britain. The number of deaths has greater part of that country crime has dimin- consequently increased to an immense extent. ished, and life and property are as safe as in In the week ending November 20th the number any other portion of the kingdom; and that the in London was 1086; and in the three followcrimes against which the bill is directed are ing weeks, 1677, 2454 and 2416 : the latter held in detestation and abhorrence by far the showing an increase over the average of the greater portion of that country. The bill is of same season in other years of 1370, or 130 per å mild character, and had the support of a great cent. Mr. Robert Liston, the celebrated surportion of the Irish members; it passed a first geon, died at London, on the 7th December, reading with a majority of 206, only 18 votes from a disease of the throat. An account for being given against it, and on the 13th of De- the year ending 10th October last shows the cember it finally passed the House of Commons income of the United Kingdom from taxes, &c., by a vote of 173 to 14. A motion for repeal to be £52,579,501, 2s. 1d., and the expenditure of the union was brought forward by Mr. to exceed that sum by £327,608, 8s. Feargus O'Connor, on the 7th December, which The governments of France and England was negatived by a vote of 255 to 23. Bills have been in communication, relative to the have also been introduced for removal of all blockade, by the former, of the river Plata ; and Roman Catholic and Jewish disabilities, which on the 13th of November it was stated by Lord are expected to pass the Commons; but the Palmerston that he had no doubt, on the arripassage of the latter through the House of val of instructions there, a speedy cessation of Lords is doubtful. About the 6th of December hostilities would take place. The grippe (inthe coast of Great Britain was visited with ter- fuenza) is extremely prevalent in many parts rific gales, and the destruction of shipping and of France : 10,000 persons are said to be laid boats has been most extensive. An American up with it at Lille; at Toulouse, 15,000 out of ship, the “ Robert G. Shaw," was burned to the 55,000 are suffering from that malady; and at water's edge, off Weymouth, having been struck Marseilles half the population (of 160,000 by lightning, December 6th. The present souls,) are said to be confined to bed from the suspension of Sir Robert Peel's act for the

Precautions are being taken in amendment of the Corn Laws expires on the France to prevent the introduction of the chol1st March next. The President of the Board The reform banquets still continue, and of Trade, in reply to an inquiry on the subject, are frequented by persons of distinguished stated that it was not the intention of the character and station. Arrangements have Government to propose a further suspension ; been made by which, after the 1st of January, in which case the import duties on wheat will two mails will be daily dispatched between be regulated by the following scale :—When London and Paris—a day mail and a night the average price for six successive weeks is mail from each capital. Špecimens of cotton under 48s. per quarter, the duty will be 10s. grown in Algeria have been sent by the Minisper quarter. At every advance of 1s. per qr. ter of Commerce to the principal manufacturin price the duty will fall 1s., until the price ing towns, with a view to ascertain its quality. reaches 53s., at which price, and upwards, the The reports have been so favorable that the duty will he 4s. per quarter. The average French government is likely to adopt measures price for the six weeks ending 11th December to promote the growth of cotton in Algeria upon was 52s. per quarter, at which rate the duty an extensive scale. Since 1830, Algeria has would be 5s. Accounts to the 1st January, | cost France half a million of soldiers.

same cause.


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