the value, in tale, of There, moreover, were three several sums of foreign gold, and light guineas, sent to the mint, by the Bank of England, from the end of 1771, to the end of 1777

The total re-coined

There remained, in the circle,
heavy guineas of the former,
and present, reign, light gui-
neas, which were not brought
in, and silver
There also were about two mil-
lions of light guineas sent to
America, during the war, va-
lued at

L. 15,563,593

5,200,723

L. 20,764,316

L. 2,055,763

L. 2,000,000

* Lord Auckland's Letters, p. 215; Mr Rose's Brief Examination, App. No. 4.

If one third only was withdrawn from the circle of commerce, this circumstance alone, when compared with the quantity of money which, in 1777, was actually found in circulation, would demonstrate the existence of a greater number of coins; and, consequently, the amount, in tale, of 31,081,9611. in gold; and in silver, about 2,250,000l. to animate our traffic, in daily use. * But, whatever were the amount of the gold circulation, in 1797, it was almost all withdrawn, from the circle, when the restriction was imposed on the Bank by Parliament. The void, which was thereby left, was immediately supplied by the Bank cash, and by the country bank paper. And it thus becomes of some importance to state the amount of both, in 18c9, from the examination of the Bullion Committee:

The average amount of Bank cash, which circulated, in 1789, was; of notes of 57. and upwards L. 13,173,900 of ditto of 17. and 27. 4,841,800

Carry over-The total of both + L. 18,015,700

* Such was the opinion of the Lords of the Committee of the most honourable Privy Council, appointed for considering the state of the coin. (Report, p. 2-5.) Mr Whitmore, the governor of the Bank, however, stated to the Bullion Committee, as his opinion, that the gold coin in circulation (exclusive of what was in the coffers of the Bank) during the three years which preceded the restriction, in 1797, had been rather below, than above 20,000,000%. ‡ Now; if we suppose, that one half of the gold coined from 1760 to 1796 inclusive, remained in circulation in 1796, this would be 28,665,6031.

† Appen. to Bullion Report, No. 37.

Minutes of Evidence, p. 121.

Brought over-The total of both L. 18,015,700 Mr Tritton, the banker, stated, that the country bank notes, in circulation, during 1809, including those of Scotland, were supposed † L.20,000,000

to amount to

Mr Richardson, the agent for the

country banks, stated, that he had

heard the amount of such notes calculated at

+ 30,000,000

Taking the medium of these two estimates, and
dividing the Scotish circulation, the result
will be, as the country notes in England
Add the notes circulating in Scotland, as stat-
ed by Mr Gilchrist

22,500,000

2,500,000

The whole circulation in Britain, in 1809 L. 43,015,700

And, great as that sum seems to be, yet is it less, than foreigners supposed, when the vast dealings at home, and abroad, of so opulent, and commercial a country are properly considered.

In this manner, then, have I reviewed the Chronological Table, with regard to our Shipping, our Exports, the Balance of our Trade, the Revenue of Customs, and the successive operations of the Mint. The Chronological Table gives, as it were, a bird's eye view of our whole commercial concerns, from the Restoration to the present time, a long, and busy period, of domestic dispute, and foreign war. And, the Chronological Table exhibits a retrospective mirror of our traffic, and re

Minutes of Evidence, p. 140.
Ib. 149.
$ Ib. 113.

venue

venue, which reflects a very flattering prospect of our future prosperity, with regard to all, that constitutes the opulence of individuals, as well as the power of the State. We may, at length, address the despondent, with the gaiety of Swift:

"Canst thou take delight in viewing
This poor Isle's approaching ruin,
When thy retrospection vast
Sees the glorious ages past?
Happy nation, were we blind,
Or had only eyes behind!"

A a

CHAP. XV.

The Controversy on the Populousness of Britain revived. The Parties.-A Review of their Publications.-An Examination of the Argument; from Reasoning-from Facts-from Experience.-The augmented Populousness of Ireland.-The Increase of People, in Scotland. -The general Result.

THE contest, which had been carried on, during the war of 1756, between Dr Brackenridge, and Dr Forster, with regard to the effects of our po licy, both in war, and in peace, on population, was revived, amidst our colonial contests, by the late Dr Price, and his opponents. This last controversy furnishes much more instruction, with regard to a very interesting subject, than the former; as the disputants took a wider range, and collected, in their course, many new facts. Dr Price revived the dispute, by contributing an Appendix to Mr Morgan's Essay on Annuities, wherein the Doctor attempted to prove, by ingenious remarks on births, and burials, a gradual decline, in the populousness of Great Britain. He was soon encountered, by Mr Arthur Young, who justly inferred, from the progress of improve