perfonal exertion on the part of its ruler; and is fuch, in fact, as no exertion whatever could have effected, independent of them.

The diftrict of Rampore,' he proceeds, it is true, owes its a&ual profperity to the induftry and ability of Fyzoola Khan; not indeed to thefe qualities, wholly as the means, but to them wholly in the application of the advantages he derived from adventitious caufes. First, Its fituation; his territory being defended on one fide by the Ganges, as well as the interjacent country of Rohilcund (as the above river is about thirty-five miles diftant from his western frontier); and the weakness of his neighbours lying beyond it; on the other fide, and behind, by woods and mountains; and on the fouth, by the protection of the British, virtually faving him from the certain deftruction which must have been his lot, had not the presumption, more than the exertion, of this fafeguard prevented any attempts to effect it. [Does not this reafoning apply equally ftrongly to the whole of Rohilcund?] Secondly, The natural advantages which a Small dominion enjoys over a large (exclufive of the peculiar compactnefs and defenfibility of his), in admitting the fuperintendency of its first magiftrate, without any delegation of official authority, as well in the general management, as in the complete controul of its detail, both of government, revenue, and expence. [Did not the conqueft, which added Rohilcund to the dominions of Sujah-alDowlah, increase all thefe evils, by making larger a large dominion, and deftroying feveral fmall ones?] Thirdly, In a multitude of little ftreams, which fall from the furrounding mountains, and fill with every diffolution of the fnows above, yielding, with the aid of artificial dams, a conftant and unfailing fupply of moisture to the neighbouring grounds, in feafons of univerfal drought, as in the years 1781, 1782, and 1783, when all the upper regions were burnt up by the failure of three fucceffive rainy feafons; and the cultivation of Rampore was maintained equal to that which it poffeffed with the natural influence of the climate. [And is it in the district of Rampore only that artificial dams can be made, or the water, by induftrious exertions, be made to fertilize the foil in dry feafons? If fo, how came it to be voluntarily ceded to an enemy, who had not power to refift?] And lastly, In the fuperior population, and confequent cultivation and wealth, it derived from the acceffion of fubjects, within the three before mentioned years, from the circumjacent country (which was not fo happily circumftanced in the above effential points), as it is natural for men to fly from famine, and, its inevitable confequence, oppreffion, to a mild and equal government, and abundance; and in the fame proportion as the territory of Fyzoola Khan gained by this circumftance, that of the Vizier lost in its population, and confequently in its cultivation and revenue.'

The Author here labours, it is plain, to defend the conquerors: whether fuccefsfully, or not, we leave the competent Reader to judge for himself. The above extract will ferve to difcover what are the views of its author, as well as to give a specimen of his powers for compofition. The narrative, in the body of the work, faid to be a tranflation from the Perfian, poffeffes not that diftin&nefs which marks the talent for hiftorical

compo

compofition; and being unaccompanied with a map, where fo much evidently depends on local circumftances, it remains, in many places, obfcure, and confequently uninterefting. Whether the facts can be depended on, we are not in a fituation to judge; but they come to us under fuch a questionable fhape (Mr. H. not being refponfible for them), that we fhould think it loft labour, in the present state of things, to enter on a farther detail concerning them. A—n

ART. XVII. Difcours fur le Credit public, &c. A Differtation ont the Public Credit of European Nations. By M. Herrenschwand. 8vo. 2s. 6d. Hookham.

TH

HIS is a continuation of Mr. Herrenschwand's Syftem of political Economy *, which he feems to intend to offer to the public in feparate differtations, as they may be fucceffively written. Since, then, we fhall probably have occafion to notice the different publications, as they occur, we think it may tend fomewhat to fhorten our labour, if we make, at this time, a few remarks on the plan which he has adopted, in the view of pointing out the propriety of barely announcing the other parts, as they appear-unlefs circumstances fhould render it neceffary to be more particular, on certain occafions.

The fcience of political economy, Mr. H. infifts, is very little understood in Europe; its firft rudiments being (carcely known to thofe philofophers and politicians who have hitherto written on the fubject-Sir James Stewart alone excepted. Should we admit this pofition to be well founded, the neceffary inference to be drawn from it, is, that too much care cannot be taken by the man who attempts to develope the principles of this abitrufe fcience, to avoid obfcurity in his illuftrations, and to be efpecially careful to affume no pofition as a principle upon which future arguments are to reft, until the truth of that principle be first clearly demonftrated. If an oppofite conduct fhall be adopted, and if the reader fhould be defired to take the Author's word for the truth of it, inftead of all farther proof, it is evident the reader. may be thus gradually led on, by an apparently confiftent mode of reafoning, to admit, as infallible truths, the most pernicious

errors.

We are forry, however, to obferve, that our ingenious Author does not feem to have fufficiently adverted to this circumftance; and though his reafoning be conducted, in general, more in the mode of a mathematical chain, than is ufual in political inveftigations, yet he has, inadvertently, as we prefume, on many occafions, contented himfelf with affertions inftead of proofs, in regard to fome fundamental principles on which the force of many future arguments depends. Example,

* See Rev. vol. lxxvi. p. 97.

• The

is !

The intereft of money is one of the most important principles of modern political economy, and the moft probable characteristic of the degrees of national profperity, or, what is the fame thing, the degree of eafe which the inferior claffes of men enjoy, and by which alone the degrees of the profperity of nations are measured. For while the intereft of money is high, the inferior claffes are in mifery; while it is low, they are in eafy circumstances; while it falls or rifes, their lot is proportionally affected by it; and the profperity of nations keeps pace with it in their progress and in their decline.'-Again,

Circulation is the grand bafis on which the whole edifice of modern political economy refts; it is that which characterizes and diftinguishes this fyftem of political economy from all others; it is that which determines, and it is that which meafures the population, the riches, the profperity, and the power of nations; and, the degree of circulation given, the degree of population, of riches, of profperity, and of power, are neceffarily given at the fame time.'-Farther,

The public debts of the nations of Europe, fuch as refult neceffarily from the operations of public credit, are almoft entirely formed by contracts on perpetual and life annuities, and from the moment when thefe contracts are made, they become as improper for circulation as ingots of gold or filver, or, what is the fame thing, from that moment the capitals which these contracts reprefent, leave the precious and productive circulation, in the hands of merchants, manufacturers, and farmers, to have nothing else than an unproductive and pernicious circulation in the hands of ftock-jobbers.'

We do not fay that thefe pofitions are not true, but we fay they are not proved to be fuch; and they are of too much importance, and in feveral refpects of too doubtful a nature, to be admitted on the bare affertion of any man. It is no excuse for Mr. H. to allege, that he can demonftrate the truth of these pofitions; for, till he has done fo, the cautious reader muft refufe his affent to the truth of them, and of course, be unable to admit the many important conclufions that are afterwards deduced from thefe doubtful premifes. Many other examples of the fame fort might be produced, were it neceffary-but these we deem fufficient to authorife what we have faid.

In another refpect, the plan which Mr. H. has adopted, appears, to us, to be extremely defective. The fubject he treats, in one differtation, is, on many occafions, fo intimately connected with others, that they cannot be eafily confidered as detached and independent of each other. And he has fuch a tendency to run into digreffions, on other points connected with his principal topic, that he is every moment beginning difcuffions, which he abruptly leaves, after having announced, with a

great

!

great degree of confidence, certain oracular pofitions, which he undertakes to prove at a future period. Thus is the mind of the attentive reader filled with doubt and perplexity, without knowing what to admit or what to reject. He feels a painful fufpenfion of judgment, which to him must be extremely unpleasant. Were we difpofed on this occafion to be fevere on our Author, we should remark, that fuch a conduct was admirably calculated to raise the wonder of the ignorant, and to excite in their minds an extraordinary admiration of the uncommon powers of the Author; but we will not at prefent fuppofe Mr. H. chargeable with a defign of this kind. Of thefe oracular affertions, the following examples may be given:

If this were the proper place, I could demonftrate, that even if France fhould concentrate, and circulate, in herself alone, all the fpecie in gold and filver, which now circulates through all Europe, her machine of circulation would not have arrived at one half of that power, which the complete developement of her profperity neceffarily required; or, what is the fame thing, that, with fuch an enormous mafs of nominal riches, France would remain in perpetuity more than one half below the population and real riches of which fhe is fufceptible.'

Again I fhall here terminate my obfervations and reafoning on the fyftem of public credit of the nations of Europe, perfuading myself that what I have faid will demonftratively prove, that it is, as I have afferted, a fyftem radically vicious, foolish, in manifeft contradiction with the true principles of political economy, and deftructive of the profperity, of the power, and the happiness of nations. My intention is not certainly to rest here, and the moment will come when I fhall prefent to the nations of Europe, a system of public credit difengaged from all the vices which I have demonftrated in that which they have hitherto fo unhappily followed.' But where, we would afk, could he have more properly introduced the fubject, than in a difcourfe profeffedly written on public credit? And why are his readers to be tantalized with this imperfect treatife? As it was not imposed on Mr. H. as a task, wherefore thould he have voluntarily undertaken the subject, before he was ready to complete it?

To fuch magnificent promifes as thefe, however, our Author frequently recurs, and it is impoffible for an unprejudiced reader to avoid entertaining, on fome occafions, doubts of their fulfilment; or not to be shocked at the contemptuous manner in which he treats many refpectable men, who have preceded him in this walk. After having detailed what appear to him to be the errors of others on this head, he thus proceeds: Political economy, or rather, I would fay, the true fcience of political economy, the principles of which I hope gradually to display, REV. Nov. 1787.

Ee

prove

prove not only, that it is perfectly poffible to proportion.conti nually the developement of real riches to the mafs of nominal riches, the mafs of things to the mafs of fpecie, and to prevent the average price of things from being augmented; but it teaches diftinctly the means by which all this can be effected, and in the univerfality of its principles, there is not one which has not this grand operation directly or indirectly for its object.'

Mr. Herrenschwand is doubtlefs a man of abilities,-but the prefent difcourfe has added little to the respect in which we held his former productions. His frequent digreffions from the main object of the enquiry, the doubtful nature of many of thofe pofitions which he has boldly affumed, the afperity of his manner of treating others, and the reiterated praises of the wonderful fyftem he is to produce-all tend to leave an unfavourable impreffion on the mind. We hope, that, in his future effays, he will be on his guard against these blemishes, and proceed directly forward in developing thofe principles that are to prove fo bighly beneficial to mankind. When his fyftem is completely before us, we fhall then be able to appreciate its merits; at prefent, his work appears to us of fuch a doubtful nature, that we shall not take up more of our room with farther remarks upon it. A--n

MONTHLY

CATALOGUE,

For NOVEMBER, 1787.

SCOTLAND.

Art. 18. Reflections on a late Refolution of the House of Peers, refpetting the Peerage of Scotland; addreffed to the Chancellor, and C. J. of the Common Pleas. 8vo. Is. 6d. Bell. 1787.

WE

E do not apprehend thefe Reflections to proceed from any common head; as the Author difplays an extenfive knowledge of facts, and an acuteness in reafoning from them, far beyond thole of the ready fcribes, who feize any current topic of the day, as it rifes. The question was, as to the legality of conferring hereditary feats on two of the elective reprefentative peers of Scotland. On this question, which the Author confiders as extending to the private rights of every fubject both of England and Scotland, he remarks four different decifions of the Houfe of Lords, fince the union of the two kingdoms; the natural confequences of which contrariety afford him the opportunity of ftating fome queftions and cafes, important enough probably to make jome perfons uneafy. We have a view of the different conftitutions of England and Scotland; in which our Author remarks, that liberty is the direct and avowed object of the conftitution of England, and an ardent defire for the attainment of that object, is the actuating principle of it. Liberty and property, are the words of an Englishman's crie de guerre. But thefe are not the founds that catch the Scotchman's ear, or fire his blood. Liberty was never thought of in Scotland, till after the