Though the examples which have been adduced, will, I trust, completely satisfy every one, the least conversant with the language in which the statutes of William of Wykeham were written, of the real meaning of the word pauper, as used in those statutes, yet the following examples, which I have met with, since the first sheet was printed off, are too apposite and incontrovertible to be omitted.

"PAUPER-cui parva et angusta res familiaris est ; qui non affluit opibus, nec tamen eget; tenuis, medius inter EGENUM et DIVITEM." Cicero says, "M. Manilius PAUPER fuit; habuit, enim EDICULAS in Carinis et FUNDUM in LABICANO."-Forcellini Thesaurus.

"PAUPER:-proprie medium quid est inter DIVITEM et MENDICUM; nempe, cui necessaria tantum suppetunt, NIHIL SUPEREST, eum PAUPEREM vocant !!"-Gesneri Thesaurus.

APPENDIX.

RUBR. 46.

ex

"Statuentes nihilominus, et etiam ordinantes, quod si forsan temporum invalescente malitiâ, casibus fortuitis, possessiones, redditus, et proventus spirituales et temporales dicti nostri Collegii in tantum DECREVERINT,. quòd dictus Custos, necnon Presbyterorum, Scholarium, et Clericorum de Capellâ numerus per nos superiùs definitus, de exitibus possessionum, reddituum, et proventuum prædictorum, ceteris omnibus oneribus eidem Collegio incumbentibus debitè supportatis, non poterunt juxta formam ordinationum et statutorum nostrorum commodè sustentari; tunc, communæ singulorum ipsorum Presbyterorum duodecim denariorum summam in septimanâ aliqua non transcendant, nec amplior quàm duodecim denariorum summa, pro eorum septimanatim communis de bonis dicti Collegii communibus aliqualiter persolvatur; deinde si redditus et proventus præfati Collegii Custodi, necnon Presbyterorum et Scholarium ac Clericorum numero non sufficiat, in hâc parte, tunc necessitate cogente, annua liberata vestium de quâ in dictis nostris ordinationibus et statutis sit mentio, a quolibet subtrahatur. Demum si posthæc infortuniis, quod absit, convalescentibus, numerus supradictus de redditibus, exitibus, et proventibus possessionum dicti nostri Collegii tunc existentibus, in formâ prædictâ non poterit sustentari; permittimus quòd tunc, et non ante, nec aliàs quovismodo, juxta decrescentiam dictorum reddituum et proventuum, decrescat successivè numerus Sociorum et Scholarium nostri Collegii supradicti. In his tamen omnibus, Custodis et Sociorum Presbyterorum dicti nostri Collegii, qui pro tempore fuerint, conscientias apud altissimum arctius oneramus :

ordinantes, ac etiam statuentes, ut si, necessitatibus et infortuniis supradictis cessantibus, tempora mutentur in melius; possessionesque, redditus et proventus dicti nostri Collegii per Dei gratiam iteratò felicia recipiant incrementa; juxta ipsorum crescentiam numerus supradictus, sic ut præmittitur, in dictis casibus minuendus, augeatur etiam et accrescat, ac aliàs in omnibus percipiant, sicut prius.

The word "accrescat" is contrasted with "decrescat."

The "numerus superius definitus," and "numerus supradictus," refer to Rubr. 1; the very title of which is, "De totali numero Scholarium, Clericorum, Presbyterorum, et Personarum aliarum dicti Collegii prope Wintoniam." Then the founder enumerates- -a Warden; seventy Scholars; ten Fellows; Chaplains; three Clerks; sixteen Choristers; an Informator; and Hostiarius.

three

OF AN

ENTIRE REPEAL

OF

The Bank Restriction Act :

AND

A PLAN

SUGGESTED FOR OBVIATING THEM.

BY JOHN WRAY, Esq.

SECOND EDITION.

LONDON:

DANGERS

OF AN

ENTIRE REPEAL

OF THE

BANK RESTRICTION ACT,

&c.

THE establishment of an efficient paper currency maintaining an unimpaired value, during a period of more than twenty years, exhibits to the political economist the important fact, not previously supposed to be possible, that the intervention of a metallic currency for the circulation of every species of exchangeable commodities, may be safely and conveniently dispensed with.

A paper currency, guarded in its issue by the very principles on which the Bank of England is conducted, cannot be exposed to depreciation, because that issue is governed by the demand, beyond which it has, in no one instance, been carried. Bank paper represents and is a true sign of property-hence, it has ever commanded the public confidence, and for all objects of traffic within the realm, it has been found to possess the powers of bullion.

In several of the continental states, in which the government has sought relief from financial difficulties, by the issue of paper, that paper did not command the public confidence, and therefore fell to a discount. It represented nothing, and its increase produced the uniform effect of a proportionate depreciation. Such paper is obviously of a nature bearing no similarity to bank paper. They possess no one faculty in conimon, and cannot therefore in their

operation be productive of similar consequences. The cause assigned, sufficiently accounts for the fatal mischiefs, which have attended the arbitrary and uncontroled issue of the one-but that cause, cannot be applicable to the other. The one is a baseless fabric -the other rests on the substantial foundation of the property which it represents.

The public opinion on this subject is steady and has been strongly pronounced, on each and every occasion, when the recurrence to cash payments has been contemplated.Bank paper has the decided preference-no inconvenience is felt whilst even a remote prospect of a repeal of the Bank Restriction Act, already fills the commercial world with alarm.

The effects of a diminished circulating medium are anticipated, though obscurely seen-for no one can estimate the magnitude of the evil, on its nearer approach. That it will be tremendous, many sound politicians think, and are prepared to demonstrate. But, were it otherwise, and their opinion, not founded as it seems to be, in the nature of things, the very circumstance of its almost universal prevalence, would generate infinite calamity-affect public credit, and derange the relative value of exchangeable commodities.

In the ruder ages of society, various and successive were the conventional emblems of property, until the precious metals received that distinction by the general assent of the civilised world, and thence were vulgarly considered, as constituting the riches of the state. Experience however and reflection, have gradually led to a very different opinion, and have finally detected the gross, yet venial error, by establishing the distinction between property and its sign. In the infancy of society, shells or other emblems have performed the office, which we now assign to the precious metals. Their functions at the respective periods were similar-and their intrinsic value equal. For each answered the intended purpose--that of facilitating the interchange of commodities.

It may be proper to call to our recollection, that the supply of gold within the last thirty years at least has proved inconsiderable, whilst the money value of property, in every part of Europe, and in the United Kingdom in particular, has risen in a ratio infinitely beyond the proportion, which that supply bears to the previously existing amount.

When it was asserted by an eminent writer at an early period, that one hundred millions of public debt, would cause a national bankruptcy, he might be correct-at the then estimated money value of all the property in the kingdom, the pressure of such a debt niht be intolerable, and the interest be equal to, or perhaps exceed the utmost extent to which taxation could be carried-the