Celestial Phenomena

1814 The Belfast Monthly Magazine  
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more » ... out Early Journal Content at http://about.jstor.org/participate--jstor/individuals/early-journal--content. JSTOR is a digital library of academic journals, books, and primary source objects. JSTOR helps people discover, use, and build upon a wide range of content through a powerful research and teaching platform, and preserves this content for future generations. JSTOR is part of ITHAKA, a not--for--profit organization that also includes Ithaka S+R and Portico. For more information about JSTOR, please contact support@jstor.org. 1814.] Cklestial Pheomenomena. 185 ceeding from the same cause, they cannot come into competition with the domestic manufactures on the continent, which have greatly improved during their seclu. sion from receiving their former accustomed supply from Britain. These are great drawbacks on the highly vaunted commercial prosperity of Britain, and will probably be permanent. They arise fromn causes not likely to be speedily removed, for the expences of the interest of the mighty national debt, and of a very high peace establishment still remain. The loss of the American market is also severely felt. Here also is a repetition of si;,ilar blunders. The war has rendered the continent of Europe to a great extent, independent of British manufactures. The United States of North America have latterly made as rapid strides in the same direction, so that peace will not be likely to restore with them commercial relations ab fully as they existed before the war. These prospects according to the usual cant of objectors, may be said to be gloomy. Are they not real? Must delusion always be practised to lead a nation hoodwinked to its ruin, although the nation likes to be thus deceived ? But whether people will go on blindfolded, or open their eyes to their situatiou, the result of the present crisis seeims likely to lead to a state in which from heavy taxes, the increased expences of the articles even of prime necessity influenced by taxation,and the diminished facility of making money resulting from the same causes, many people must descend some steps Jower from the rank they have held in life, and accommodate themselves to the exigences of the times. They must abridge themselves of some of the comforts, and of many of the luxuries, to which they have been hitherto accustomed. Gold bullion has fallen, and silver has risen, during the last and present month. It is said that seven shilling,-pieces are in England making their appearance again In circulation. It is still doubtful whether a return to a gold circulation will take place on the 25th of March next, the period at which the Bank restriction act expires, unless it shall be previously renewed. The expenditure of an army in the Netherlands still remains, and commercial exchange is against Britain. ha the investigations which have taken place in the committee of both houses of parliament, to examine into the corn trade, some very curious and important circumt stances have been disclosed. It appears from the evidence, that corn can be raised in Poland at very low rates, by the great landowners, with whom the grain is frequently so great a drug, that in spring they begrudge the expnse of restacking that part which may have been injured by the winter rains. The peasant eats little (ft the grain which his labour is employed to raise. A large surplus thus remains rtobe exported, ion very low ttrms, owing to the poverty of the country, and the depression of the lower ranks. In England an increase of rent, unavoidable on the part of the landlord fronm his i ci eased expences, owing to the taxes, is but the smaliest part if the tenant's burden. T'it i s are increased. Labour is nearly doubled, as also the expense of farming materials from the saddier, smith, &c. To these must be addea, the farmer's own increased expenses, all arising from the great source of misery, the taxes occasioned by the war. These burdens can only be slightly lessened. The war for the pre-ent is at an end, but its effects remain. While things are in this state, corn cannot be afforded on low terms in England, without ruin to the farmer. Manufactures cannot find a market abroad. They go loaded al-o with taxation, and with the effects of tie high prices of grain used by those engagcd in the production of them. If foreign grain is imported, the farmer suffers. If it is praohibited, the manufacturer is injured. I'o such a.diemma, or choice between difficulties has the war reduced the landed and manufacturing inrte ests uf the state. Exchange on London has kept through this month, without much variation, at about 5 per cent.