Daily Prices of STOCKS, from 20th SEPTEMBER, to 20th OCTOBER, 1808.

Lottery
Tickets.

Of the line. 50 to 44. Frigates. Sloops. Gun-bgs. Total.

164

£ s. d.

Sept.23

66 65

98

1 d 3 P

21d

2 d 2 P

d

7

12d

28

6571

973

24

d

71

23d

Id

1d

66

30
Oct. 1

661 653

98

2

131d

par 2 p

661

66 657

98

2 4 P

66A

id 1p par 1d

2 5 P

66

4p par2p

661

66 651

98

24

d

1761 par 1d

3p Idpar 21 15

of 66

66 654

984

24

176

par 1d

ditto

66

65

98

34

d

1d 2ppar

ditto

65

65급

98

31 3d

177

1d par

par 3p id ip

ditto

66

P

P

ditto

66$

P

ditto

661

N.B. In the 3 per ct, consols the highest and lowest price of each day is given; in the other stocks

the highest only.

VAN SOMMER, AND SONS, Stock and Discount Brokers, No. 36, Clements Lane, Lombard Street.

THE

LITERARY PANORAMA.

FOR DECEMBER, 1808.

FRENCH EXPOSÉ.

During the interval between the Sessions of Parliament, we may have occasion to interrupt that suite of public parliamentary papers, which have greatly contributed to the importance of our work. On the present occasion, therefore, we submit a PUBLIC PAPER, not British, but Foreign; involving it is true in some degree, the welfare of our own nation; but by comparison, and rivalship, only, not directly.

We have repeatedly expressed our acquiescence in whatever advantages the French can derive from their ingenuity or ' industry. To envy them their own enjoyments, would be illiberal and even savage. Domestic accommodations are perfectly distinct from external politics. The very same principles of exalted philanthropy, which bestow applause on the former, may, and must, express detestation of the latter. On the first of November, the session of the French legislative body was opened by a speech from Buonaparte in the character of emperor, in which we find no great assurance of repose to EuThis, rope, or blessings to mankind.

however, is not our present object, as our intentions are directed to obtain, if possible, some correct ideas on the internal state of France.

The Minister of the Interior in the sitting of Nov. 2. delivered a long discourse; and we avail ourselves of what information it presents.-The speaker introduces the

ARTS OF INDUSTRY :

Observing, that "two of our manufactories of tin have obtained a degree of perfection, not at all inferior to the English."-The English article then, is the point of emulation and comparison; and Gallic vanity is obliged to commence its observations, by this tacit, but most expressive commendation of hated rivals. Information follows, that "the mechanics are doing their utmost to simplify their looms, to save labour: at the same VOL. V. [Lit. Pan. Dec. 1809.]

time, they have improved the quality of some of their productions Cotton manufactories are considerably multiplied, with in a few years."-This might be good news in England; but in France, the silk manufactures which employ a natural production of the country, decline, as the cotton manufactures, which employ a foreign commodity, are encreased.

The "institution of arbitrators to decide promptly on differences between masters and workmen ;" and "commit tees of masters in manufactoring towns ;" The latter are beneficial institutions. have an intercourse with government, which, if government could do every thing, would be highly advantageous, On some future occasion we may consider these institutions more at large.

COMMERCE.

The picture of the present state of commerce drawn by the Minister is very gloomy: he acknowledges explicitly, that political events have been unfavourable to it. He complains bitterly of the British. orders in council of Nov. 1807: from whence we infer, that their operation has been felt in France, pretty smartly. He recommends resignation under such privations, to the négocians,-the manufac turers, and the consumers. These three classes, surely, include a great proportion of the French nation: this sentiment, then, speaks for itself. He proceeds to observe, that "these circumstances favour smuggling, one of the greatest scourges of commerce-but the government is preparing new measures against this enemy of the Public Revenue, and National In dustry."-The public revenue then, has suffered; to what amount, the legislative body is not informed, as no statements are laid before them: but as the "great profits derived from smuggling," are the next idea in the speaker's mind, we pre sume that in proportion as the smugglers get rich, the Custom Houses become poor. He speaks of the future vengeance to be

taken on these transgressors la prompte
et terrible vengeance,-the smuggler will
add "but when ?"-He proceeds, "Go
vernment, penetrated with a sense of the
situation of French commerce is exert-
ing the utmost efforts to diminish the
evils under which it labours, and to sup-
ply its necessities."-These exertions con-
sist in a treaty concluded with the
kingdom of Italy "-of which France
possessed all the commercial advantages
before : "" encouragement for maritime
speculations, derived from the Caisse
d'Amortissement:" but the Caisse, will
expect to be repaid the money it lends.
What merchant will speculate with money
borrowed, unless the speculation be
certain? and if commercial speculation be
certain in France, whence is the present
distress of French commerce?"A lower
rate fixed for interest of money"-this
was a regulation greatly wanted; and is
one item to the advantage of commerce.
"A magnificent palace, building for the
tribunal of commerce of Paris."-We ap-
prove of handsome buildings: but well
constructed ships, well laden, had been
more in favour of commerce.
A new
code for commerce "6
a general plan"
"choice of place " &c. &c.-to be de-
termined hereafter !!

lution: but knowing the climate of France,we perceive no reason why the introduction of the Merino breed should not be attended with great advantages.

May we be able one day to say the same on the culture of cotton! In spite of the misfortune of a severe Spring and a cold Autumn, the trials made leave as yet some hope of success." Very small is this some, Mons. le Ministre! or you would have been more copious on this article. "The valuable culture of tobacco makes daily progress : very well; settle this with the Americans.

Such are the doings of government on the subject of Agriculture! The most important of all directions of labour to the state :-- Two new sheep farms: hopeless experiments on cotton and some success on tobacco.. We request our readers to turn to our monthly notice of agricultural pursuits in our OBSERVANDA INTERNA, (p. 582, et seq. of this number for instance, as well as p. 1424, Vol. II. and p. 1277, et seq. of Vol IV.) and make their own comparison and reflexions.

FINANCES.

The Speaker boasts of the establishment of the greatest regularity and order, in this department of state, formerly plunged into the utmost confusion, Since France has generously consented to adopt indirect taxes, the Finances have been really consolidated, and all branches of the public service have experienced the greatest facility.....The Finances of a state are effectively and essentially in a good condition, only when they are indepen

One general remark may close this subject. If the French manufactures be ab solutely "perfect," and capable of supplying the consumption of their country,how can smuggling prosper? If smuggling prospers, as the Minister confesses, then the manufactures that it imports have advantages of some kind over those that op-dent of circumstances.-When they are pose them. Without pretending to any knowledge of what these advantages are, we conclude, that they infer inferiority, either real or comparative, in the French productions of the same kind.

AGRICULTURE.

:

capable of being supported without having recourse to ruinous loans or excessive. taxes. When, in short, they are so closely connected and identified with the na-. tional prosperity, that they are an emanation from it then, and only then, can they be considered as solid, effective, permanent, and essentially national; especially if they have received an organization sufficiently simple, to allow that in a moment of urgency, property of all kinds, and each individual, may be immediately taxed in a duly augmented proportion.""

"The prefects, &c. have been summoned to give their advice on a Rural Code," &c. We shall judge on this, when it appears. "Meanwhile-improvements in the breed of horses, and premiums for the best :-two new experimental farms for sheep-six hundred prime Merinos have been ordered from These are good principles: to what Spain; and some have arrived: flocks extent the speaker's boasts are justified by multiply; and we may consider the hap facts we have no means of discovering: py revolution of this branch of agricul no papers being published on the subject. iure as complete." We shall wait till next-Tis anticipations demand attention. yea, to see whether something additional “ In time of peace 600 millions of livres will not be wanted by this complete evo-' will cover all the public expenses, and

leave a considerable surplus for national
improvements. The produce of the taxes
amounts at present to 800 millions: conse-
quently, they will be reduced one quarter.
"It does not enter into his majesty's po-
licy to have recourse, in time of war, to
illusory, expedients of levying taxes of
new descriptions, or to establish new
subsidies. At the renewal of a war, the
taxes will be raised to their former war
'establishment of SCO millions of livres;
and will then, even be augmented by 150
or 200 millions, at a time, as need may
be: and this will be accomplished by a
simple Table of proportion, which will
enable every citizen to judge of the part
which falls to his lot in the good or bad
fortune of the state.

"Observe, gentlemen, that this simplicity is totally distinct from the so much boasted results of one direct contribution. On the contrary, it rests on the intimate conviction, that the taxes ought to bear on different objects; -on the certainty that our financial laws comprize all the taxes that can be approved of; and that all that is just and reasonable has been accomplished.

"There remains now only the completion of the Register, without which the uniform progress of the scale of augmentation and diminution would not maintain just proportions, but would continue to weigh heavily on the proprietors of property already over-loaded: the execution of this Register, which is expected to banish such inequalities, and to compensate for every Involuntary and inevitable injustice, is carried on with such assiduity, that even those who considered this immense undertaking as impracticable, have no longer any doubts on seeing it speedily completed."

We believe, that only the Minister himself can understand this statement: this long awaited Register can apply only to direct contribution: for no Register can make any man wear more clothes (the cloth of which is taxed) than he chuses; nor eat more food, nor drink more wine (which has paid excise) than his appetite will bear: yet if we are to take literally the expression that "this simplicity of taxation is different from the results of a single direct contribution," it will follow, that besides the taxes laid in an indirect manner on productions, there will be a scale of valuation on which every ntan will be placed, by the tax-gatherers;

and according to the estimate made of his property he will be charged. This has long been the true Turkish mode: and as it is to be established during peace as well as during war, we wish the French nation joy of this ancient Gabelle new-revived!

During the last three or four years, no official statement of the French finances has been published. Some attribute this silence to the dislike of Buonaparte that the proportion between the revenue yielded by France, and that plundered from other countries (Recettes Extérieures) should be known; others think, that the gradual decline of the French commercial revenue, as it would appear by comparison of the annual returns at the custom houses, in proportion as commerce declines, would present a disagreeable object to his legislators, and the nation. We so far adopt this opinion, as to infer, that if all parts of the revenue were flourishing the whole would appear in open day.

In the year 1803 the direct contributions amounted to 302,283,000 livres : of which 284,677,000 were derived exclusively from land. The magnitude of this payment reduced the cultivators to such distress, that it was found necessary to do something for their relief; and about 30 or 35 millions were shifted from direct contribution to indirect. What effect this had on the corn districts, we know not; but we understand that to compensate the deficit occasioned by this movement, taxes were laid on wines when they left the cellar; which, with what was formerly charged on them, in many cases, exceeded the value of those weaker wines, which formed the sole product of certain provinces. In general, therefore, the proprietors of such estates are reduced to misery; and those who before this tax had incomes of 20,000 livres, are now mortgaging their property, or living from hand to mouth, by borrowing.

If we compare the former expences of this kingdom with the Minister's estimate, we may, possibly, perceive another reason why the necessary papers are withheld. Many years ago, the peace expences of the monarchy were 600 millions of livres; yet the army was not so numerous as at present: the Maréchaussée was only 3,666 men; whereas now Buonaparte has at least 30,000 gens da'rmes in his establishment: to which must be added, his legion of senators, legislators, prefects, magistrates, the million of spies that in