struction of their institutions, than they ever could accomplish under the merely natural impulse of ambition and the love of change.

We happen to be very intimate with the designer of this treatise, which its author means to entitle "The New Machiavel; or a Treatise on the Art of Destroying a Nation from within." The first part will be a profound essay on the nature and uses of Opinion, and of the various arts of creating it. Of this portion a friend quite competent to the task, has promised us a popular review. The author evidently regards it as the most important portion of his work, for at the very page we find this sentence, "The Constitution and Laws of a people rest upon three columns: these are, Prejudice, Interest and Opinion." It is unnecessary to remind the reader that whatever rests upon three legs, if one be knocked away, will fall to the ground. Our author believes that the Prejudices of a people, which are quite distinct from their speculative Opinions, are a main support of their government, and he proposes to devote a separate treatise to the art of undermining inherited prejudices.

The third part is of the Interests of a Nation-in what they consist, and how they are most judiciously and easily brought to the ground. As the practical experience of our author lies chiefly in that field, he having been the cause of undermining and annihilating larger and more valuable Interests, than have ever before been ruined by any private adventurer, without detriment to himself, may be regarded as perfectly good authority upon this topic at least.

One principal defect, however, has been noticed by the judicious who have seen these treatises, and that is that the venerable writer, while he tells us how to bring down the edifice of state in a tasteful and magnificent style, so as to make a very fine ruin of it, neglects to show us how to "stand from under;" and while we read "of trains and plots and machinations dire," our enthusiasm is checked by the reflection that some of these grand engineers might possibly be hoist with their own petards, or buried under a falling column. These, it may be, are but the reflections of nervous and over-fearful persons. To give some faint idea of the work, we subjoin a few ets from the plan.

"To destroy the interests of a nation the most effectual methods are obviously those which will sink the largest amount of labor and capital, or which will turn the labor and capital of the people into the least productive channels. This cannot be done immediately, or in one generation, and the most that we of this time can do is to begin the work.

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Having by a judicious working upon opinion, induced the people to elect an Executive sufficiently ignorant, obstinate, and ambitous, you have then to provide a suitable cabinet for guiding and instigating. You are to keep all real information out of reach and hearing of your Executive, and fill his ear with continual flatteries, so that his opinion of his own judgment, where it is necessary that he have any, be swelled to the largest. He will then be in a good condition to use, for carrying out your grand scheme.

Having now got your Executive ready, and in good order for the work, you must begin by setting him against something, with which he shall be heartily angry. Anger and pride together, will make him persevere. This may be either some great public institution, as a legislative body, a moneyed corporation, a college, a church, or a neighboring State. If you can engage him in a little war,' be content: little wars always continue long, and cost more in the end than great wars, which agrees with your main design.

"It may be shown that wars of conquest are the best in the world for your purposes: for

"1. They are the greatest destroyers of property, by sinking productive capital in the maintenance of unproductive bodies of men, armies, navies, office-holders, and the vast crowd of idlers that live upon their means while waiting for offices; which is a great consideration.

"2. By a national debt, increasing the number of speculators, stock-jobbers, and the like.

"3. By the sudden augmentation of the army and navy, a vast number of laborers, mechanics, dealers and contractors, previously engaged in commercial or other economical pursuits for the increase of national wealth, are now engaged in the production of a surplus, which is to be consumed without render or profit to the nation.

"The surplus capital of the nation, which would otherwise have been used for the cultivation of farms, the building of cities, the establishment of manufactories, and the opening of new channels of internal and external commerce, is now directed upon the production of clothes, food, munitions of war, forts, navies, &c., which, instead of being a profitable investment for the surplus of the national wealth, are in fact a perpetual sink and drain, swallowing up in taxes for their after maintenance and support, those earnings of poor men, which would otherwise have just lifted them a little above poverty.

"This last effect is of the greatest importance to your scheme. We know very well, and you must not fail to persuade the people, that a war stimulates the industry of a nation, gives employment to a vast number of persons, and employs a great amount of capital. It is not this first effect, however, but the secondary consequences of war, which should occupy your attention-namely, that all this industry and wealth is employed, so to speak, in digging a pit to throw in the people's money.

"Having got your war well agoing, and the public debts running mountain high, you will now observe a three-fold effect on the nation: first, a general stagnation of business, following on the close of the war; secondly, a large increase of crime and poverty, through the return of myriads of adventurers; lastly, but which will appear more slowly, the enlargement of the class of paupers, and the depression

of the working classes generally, through the necessary effects of taxation.

"If the nation enjoyed a free trade before the war, you will now find it necessary to raise your tariffs as high as possible; an operation which will injure some nations and benefit others; but by a skillful adjustment of duties you may succeed in killing off some valuable manufactures and stimulating others that will be of little or no value. Your main reliance, however, will be on taxation. The debt having been incurred, it must be paid; but you will bend all your efforts toward increasing the number of the poor, who are always your very dear friends; and what good man is there that does not wish to increase the number of his friends? To this end you will begin by taxing the necessaries of life, food, fuel, clothes, &c., taking care to persuade the people that the loss will fall upon the traders and producers, who will take good care on their part to sustain little or none of it. The man who saved forty dollars a year will now save but twenty, and he who enjoyed twenty will have nothing to spare; he who lived decently and saved nothing will now live meanly and have nothing, and those who lived meanly and laid up no earnings, will fall into poverty, debt and dependence. Thus by your vast army and navy you have not only conquered the enemy and earned a great name for yourself, but you have conquered and subjected a vast body of refractory citizens, poor people, who will not fail to swell the ranks of the Reform party, which is always yours."

THE late financial crisis has been the subject of long debate in the British Parliament. The matter was brought forward by the Chancellor of the Exchequer on the 30th Nov., and committees of investigation have been appointed by both Houses. From the debate it appears the ministers are of opinion that, although the pressure may have been ultimately aggravated by the Currency Act of 1844, yet its real cause was an unprecedented drain on the available capital of the country, partly for the purchase of corn and partly for permanent investment in railroads, which began in the summer of 1846, and acting on an unduly extended state of credit, brought on the revulsion. In 1837 there was a season of great commercial depression, which destroyed the houses whose credit was too much extended. In 1839 occurred a severe drain of gold for purchases of corn, but trade being in a healthy state the commerce of the country was not very materially affected. In October, 1847, the circulation in the hands of the public, including bank post bills, was £19,577,000, being £3,000,000 more than at the same period in 1839; and the private securities lodged with the bank were £21,260,000, also showing an increase of £8,000,000 above Oct., 1839; from which it appears that the pressure was not from the mere want of notes or bank accommodation. In the summer of 1846, the Bank of England had on hand a very large amount of bullion and a large reserved fund; and they, in consequence, reduced the rate of interest to three per cent. There was also at that time an accumulation of deposits of railroad money in the hands of the London bankers, which enabled them to afford facilities to commerce, and made the money market easy. At that time there existed an unlimited expansion of credit. The harvest of 1846 failed and the potato crop also, which caused a great drain of gold from the country for the purchase of corn; and in this period the increased demand of capital for railroads had begun to take place; and the consumption of manufactured articles diminished, in consequence of the high price of food. In January the Bank raised the rate of interest, first to 31, and afterwards to 4 per cent. The drain of capital for railroads and food increased; and the rate of interest in the money market (not at the Bank) became higher. One of the most important railroad companies announced they were prepared to pay 5 per cent. for money on loan; the Bank fixed the same rate of discount, and

then came the panic. The Bank is severely blamed for having imprudently parted with their gold, and having afterwards too suddenly restricted their discounts, by which latter operation a great state of alarm was created. On the 30th July the notes in circulation amounted to £18,892,000; on the 5th August the Bank raised the rate of discount to 5 per cent., and about that time the great commercial failures began; but these failures, with few exceptions, were then confined to houses in the corn trade. Between May and September the price of corn had fallen no less than 50 per cent.; the average price in May being 102s. per quarter, and in September about 48s. The cost of com imported, from June, 1846, to Jan., 1847, was £5,139,000; from January to July, 1847, £14,184,000; and the amount from July to October, 1847, was as great as that of the preceding six months, viz., £14,240,000; making altogether an aggregate of about £33,000,000. This was the cost of imports and freight, exclusive of profits made in Great Britain. The demand of capital for railways increased in a like manner. The amount expended on railways in 1841, 1842 and 1843, was about £4,500,000 per annum. In 1844 it rose to £6,000,000, and in 1845 to £14,000,000; in the first half year of 1846 to £9,800,000, and in the last half year of 1846 to £20,600,000 ; in the first half year of 1847 to £25,755,000 ; and, if the works had proceeded at the same ratio, they would have required in the last half year of 1847 no less than £38,000,000. Deducting from this about 5 per cent., for Parliamentary expenses and land, which was not a sinking capital, the sum expended on railways would amount altogether to between £80,000,000 and £90,000,000. The large abstraction thus caused from the capital formerly at the disposal of ordinary commercial enterprise, and the amount also converted into fixed capital, were the leading causes of the pressure.

Want of confidence in the public mind, also caused a large hoarding of gold and notes, which were thus withdrawn from circulation. Two of the great discount houses in London stopped payment, the others feared to act in such a state of affairs; and thus the discounting business of the country was, in a great measure, thrown upon the Bank of England. "At this time," (October,) says the Chancellor of the Exchequer, "the Government saw parties of all descriptions, who said to us. We do not want notes; we only want you to

give us confidence.' We asked, 'What will give you confidence?' They replied, 'If we only know that we can get notes, that will be enough. We do not want the notes. You can charge any rate of interest you please. Charge 10 or 12 per cent.; we do not mean to take the notes, we only want to know that we can have them."" Under these circumstances the Government, on the 25th October, gave the recommendation to the Bank of England referred to in our number of December last, when large amounts which had been kept in the hands of capitalists were again deposited with the London bankers, the amounts drawn from the Bank of England were very materially lessened, and public confidence restored.

On the 29th November, a bill for the suppression of crime in Ireland was introduced into the House of Commons by Sir George Grey, who stated that, so far from the disturbances being general throughout Ireland, in the greater part of that country crime has diminished, and life and property are as safe as in any other portion of the kingdom; and that the crimes against which the bill is directed are held in detestation and abhorrence by far the greater portion of that country. The bill is of a mild character, and had the support of a great portion of the Irish members; it passed a first reading with a majority of 206, only 18 votes being given against it, and on the 13th of December it finally passed the House of Commons by a vote of 173 to 14. A motion for repeal of the union was brought forward by Mr. Feargus O'Connor, on the 7th December, which was negatived by a vote of 255 to 23. Bills have also been introduced for removal of all Roman Catholic and Jewish disabilities, which are expected to pass the Commons; but the passage of the latter through the House of Lords is doubtful. About the 6th of December he coast of Great Britain was visited with tertic gales, and the destruction of shipping and oats has been most extensive. An American hip, the "Robert G. Shaw," was burned to the rater's edge, off Weymouth, having been struck y lightning, December 6th. The present uspension of Sir Robert Peel's act for the mendment of the Corn Laws expires on the st March next. The President of the Board Trade, in reply to an inquiry on the subject, ated that it was not the intention of the overnment to propose a further suspension; 1 which case the import duties on wheat will regulated by the following scale :-When je average price for six successive weeks is nder 48s. per quarter, the duty will be 10s. r quarter. At every advance of 1s. per qr. price the duty will fall 1s., until the price aches 53s., at which price, and upwards, the ty will be 4s. per quarter. The average ice for the six weeks ending 11th December as 52s. per quarter, at which rate the duty ould be 5s. Accounts to the 1st January,

state that commercial affairs have not improved to the extent which the increased facilities for discount might have been supposed to warrant. In the manufacturing districts there is more employment, more hands are employed, and the short time system is being curtailed; but the produce markets continue depressed. In sugar and cotton there is a decline, and the general consumption is much affected by the state of the public health. The fluctuations in the funds have been less considerable than for a long time previously. On the 1st January consols for the account were 853. The Bank of England has replenished its coffers to the extent of £11,991,376, in both departments, and the position of that establishment is considered safe and satisfactory. The Bank rate of discount was 6 per cent. on the 18th Dec., and was reduced on the 23d to 5 per cent.

The influenza prevails very generally throughout Great Britain. The number of deaths has consequently increased to an immense extent. In the week ending November 20th the number in London was 1086; and in the three following weeks, 1677, 2454 and 2416: the latter showing an increase over the average of the same season in other years of 1370, or 130 per cent. Mr. Robert Liston, the celebrated surgeon, died at London, on the 7th December, from a disease of the throat. An account for the year ending 10th October last shows the income of the United Kingdom from taxes, &c., to be £52,579,501, 2s. 1d., and the expenditure to exceed that sum by £327,608, 8s.

The governments of France and England have been in communication, relative to the blockade, by the former, of the river Plata; and on the 13th of November it was stated by Lord Palmerston that he had no doubt, on the arrival of instructions there, a speedy cessation of hostilities would take place. The grippe (influenza) is extremely prevalent in many parts of France: 10,000 persons are said to be laid up with it at Lille; at Toulouse, 15,000 out of 55,000 are suffering from that malady; and at Marseilles half the population (of 160,000 souls,) are said to be confined to bed from the same cause. Precautions are being taken in France to prevent the introduction of the chol

era.

The reform banquets still continue, and are frequented by persons of distinguished character and station. Arrangements have been made by which, after the 1st of January, two mails will be daily dispatched between London and Paris-a day mail and a night mail from each capital. Specimens of cotton grown in Algeria have been sent by the Minister of Commerce to the principal manufacturing towns, with a view to ascertain its quality. The reports have been so favorable that the French government is likely to adopt measures to promote the growth of cotton in Algeria upon an extensive scale. Since 1830, Algeria has cost France half a million of soldiers.

The civil war in Switzerland is terminated by the complete overthrow of the Sonderbund. After the capture of Fribourg, the Federal army advanced against Lucerne, and after some sharp fighting on the 22d and 23d of November, in which their superiority in artillery gave them great advantage, this stronghold of the Sonderbund was reduced, and the war virtually concluded. The number of the Federal troops engaged in the war was about 94,000, while their opponents did not muster above one third of that number. The Jesuits are entirely expelled from Switzerland, and their establishments and property forfeited. The cantons of the Sonderbund are to pay collectively and separately all the expenses of the war, to make good all damages done by their troops, and to pay the expenses of the occupation of the Federal forces. The total cost of the war on the side of the Federal government is estimated at 3,163,000f. and it is supposed the cost of occupation will be nearly two millions more. The result has created a great sensation in Austria, to which kingdom a considerable portion of the Jesuits have retired. The proposed intervention of the great European powers was rendered abortive by the termination of hostilities. The canton of Neufchatel is in rather an anomalous position. From 1707 to 1805, it was a principality of the crown of Prussia. In the latter year it was ceded to France and granted by Napoleon to Berthier, as a fief of the French empire. In 1814 the king of Prussia resumed possession, and gave to Neufchatel a constitution, and it was, with his majesty's consent, admitted into the Helvetic confederation; without, however, any cession of the rights of the king of Prussia. In the late civil war, that canton, with the approbation of the king, decided on a strict neutrality, and his majesty declared, in precise terms, to the Diet that every violation of this neutrality by the Diet would be regarded as a breach of the peace against himself. The Diet insisted that Neufchatel, as a member of the confederacy, was bound to furnish its contingent for the war, and has declared that it reserves to itself full liberty of action against the defaulting state. Thus between its loyal and conservative predilections, and its Federal relations, Neufchatel

is in a most awkward dilemma.

On the 15th of November the Pope on the throne, at the Quirinal, received the members of the consulta, and, to an address from their President, replied in the following terms:

I received it full and entire from my predecessors, so shall I transmit this sacred deposit to my successors. I have three millions of subjects as witnesses, and I have hitherto accomplished much to unite my subjects with me, and to as certain and provide for their necessities. It was particularly to ascertain those wants and to previce, that I have assembled a permanent counvide better for the exigencies of the public sercil. It was to hear your opinions, when neces sary, and to aid me in my sovereign resolutions, in which I shall consult my conscience, and confer on them with the ministers and the Sacred College. Anybody who would take any other view of the functions you are called to fulfil, would materially err, as well as they that would see, in the Council of State I have created, the realization of their own Utopias, and the germ of an institution incompatible with the Pontifical sovereignty."

His holiness having pronounced these last words with some vivacity and some heat, stopmild manner, continued in the following terms: ped a moment, and then resuming in his usual

"This warmth, and these words are not ad dressed to any of you whose social education, Christian and civil probity, as well as the loy alty of your sentiments and the rectitude of your intentions, have been known to me since the moment I proceeded to your election. Nether do those words apply to the majority of my subjects, for I am sure of their fidelity and their obedience. I know that the hearts of my subjects unite with mine in the love of order and of persons (and though few, they still exist) whe having nothing to lose, love disturbance and revolt, and even abuse the concessions made t them. It is to those that my words are addressed, and let them well understand their sig nification. In the co-operation of the Deputies I see only the firm support of persons who, de void of every personal interest, will labor with me, by their advice, for the public good, and wh will not be arrested by the vain language of rest with your wisdom to discover that which is mes less men devoid of judgment. You will aid m happiness of my subjects." useful for the security of the throne and the res

concord. But there exist, unfortunately, some

The deputies were afterwards admitted pay their homage to the Pope, and, having ♬ expressed their intention of inquiring, amor ceived his benediction, withdrew. They ba others, into the following subjects:

"As to an equal division of taxes; the dir. nution or suppression of all charges which on the poor classes, or which impede the dev opment of national prosperity; the re-establis

nopoly, and the extension of commercial libert the introduction in the prisons of a regiu which may render the penalty not a punishme which degrades, but a measure which may p mote the regeneration of the culprit; the tension throughout the provinces of the mu