Untitled

Colonist, Volume III, Issue 295, 17 August 1860, Page 3

Happy England !—According to Dr. Forbes Winslow, there are in London alone 10,000 children trained to crime, 5,000 receivers of stolen goods, 1500 gamblers, 25,000 beggars, 30,000 drunkards, 180,000 habitual gin-drinkers, 150,000 persons subsisting in profligacy, and 50,000 thieves! A Difference.—There are in finance two distinct functions often confounded: that of discounting—lending money and keeping cash accounts, which is Banking; and the function of making Paper Money. The first is a trade, and ought to be carried on by individuals, and not by Government; the second is not a trade, but an exercise of public power, and ought to be used for the public, and not for individuals. The interest on every note issued by bankers is so much public property given away. If it were in the shape of pork or bushels of wheat, issued from the stores of her Majesty, the clamor, would be universal; but the gift is riot less real when limited .to the power to issue a paper currency.— Principles of Political, Mcononiy*