FORE:But far more remarkable were the effects of the championship of French principles in the celebrated Dr. Joseph Priestley. Priestley was now nearly sixty years of agea time of life when men rarely become great enthusiasts in any cause. He was a Unitarian minister, and was now the pastor of a congregation at Birmingham. He was well known for various theological writings, in which he had announced his doubts of the immateriality of the sentient principle in man, especially in his "Disquisition on Matter and Spirit." He had been tutor to Lord Shelburne, first Lord Lansdowne; but had quitted that post, as supposed, in consequence of the objection of Lord Shelburne to these principles, retaining, however, an annuity of one hundred and fifty pounds a-year. But Priestley was far more known and esteemed for his researches and discoveries in natural philosophy, especially in electricity, chemistry, and pneumatics. Orthodoxy and Toryism were extremely rampant in Birmingham, and Priestley was regarded as the very patriarch and champion of Socinianism and Republicanism. There wanted only a spark to fire trains of fierce intolerance against Priestley and his party, and, unfortunately, this was furnished by themselves. They resolved to celebrate, by a dinner, the anniversary of the taking of the Bastille, on the 14th of July. Before the dinner took place, such were the rumours of impending riots that the party proposed to defer the celebration to a future day; but the landlord had prepared the dinner, and declared his opinion that there would be no danger if the party dispersed early, without stopping to drink many toasts. Darbley, the innkeeper, curiously enough, was a Churchman, and in good odour with the Tory party. Satisfied by his representations, about eighty persons determined to hold the dinner on the appointed day, though a considerable number stayed away, and amongst those Priestley himself. The company were hooted as they entered the inn, but chiefly by a crowd of dirty lads, who cried "Church and King!" On the table were ranged three figures: a medallion of the king encircled with a glory, an emblematical figure of British Liberty, and another of French Slavery bursting its chains. In the evening a fierce riot broke out, instigatedaccording to Priestley's accountby some prominent magistrates, though the statement was never proved. The mob rushed to Darbley's hotel after the dinner was over and most of the people were gone. There they raised the cry of "Church and King!" and began to throw stones. Some one cried out, "Don't break Darbley's windows; he is a Churchman!" But the Church-and-King people and their set, now flushed with wine and loyalty, waved their handkerchiefs from the windows of the opposite inn, and hurrahed the mob on. With this encouragement, which seemed to the crowd to legalise their proceedings, the mob rushed into the house, declaring that they wanted to knock the powder out of Dr. Priestley's wig. They did not find the doctor, so they smashed most of the furniture in the house, and dashed in the windows, notwithstanding the host's orthodoxy. Some one then cried, "You have done mischief enough here; go to the meetings!" and the mob rolled away, first to the new meeting-house, where Priestley preached, which they soon demolished and set fire to. They then proceeded to the old meeting-house, and destroyed that too, being hounded on by people of decent station in the place, and made furious by the beer which was distributed among them.The unnatural state of things induced by the war had now brought about a great change in our currency. As we could manage to get in our goods to the Continent by one opening or another, but could not get the produce of the Continent in return, it would have appeared that we must be paid in cash, and that the balance of specie must be in our favour; but this was not the case. By our enormous payments to our troops in Spain, Portugal, and Sicily, as well as in the East and West Indies, and by our heavy subsidies, gold had flowed out of the country so steadily that there appeared very little left in it, and bank paper had taken its place. On the Continent, impoverished as they were, the people tenaciously clung to their gold, and Buonaparte alone could draw it from them in taxes. He always took a heavy military chest with him on his expeditions, and his officers also carried the money necessary for themselves in their belts, or otherwise about their immediate persons. The gold being enormously diminished in quantity in England, was carefully hoarded on all hands, thus again increasing the scarcity, and raising the value of it. The price of bullion had risen from twenty to thirty per cent., and here was a further strong temptation to hoard or send guineas to the melting-pot. This state of things led a certain class of political economists to call for a repeal of the Act for suspension of cash payments, and Francis Horner obtained a committee of inquiry into the causes of the decrease of gold and the increase of paper: and this committee came to the conclusion that the true cause of the evil lay in the excess of paper, and that the way to restrain it would be to allow the demand for gold at the Bank. But the truth was that the cause of the evil was not the excess of paper, but the enormous diminution of gold; and to have opened a legal demand for gold which could not be had would only have produced a panic, and a complete and horrible assassination of all credit and all business. But there were clearer-sighted men in Parliament, who declared that, though bullion had risen in price, bank-notes would still procure twenty shillings' worth of goods in the market, and that they were not, therefore, really depreciated in value. That was true, but guineas had, notwithstanding, risen to a value of five- or six-and-twenty shillings, and might be sold for that. Gold had risen, but paper had not fallen; and gold could not take the place of paper, because it did not, to any great extent, exist in the country; if it had, paper must have fallen ruinously. Mr. Vansittart and his party, therefore, moved resolutions that the resumption of cash payments being already provided for six months after the conclusion of peace, was an arrangement which answered all purposes, and ought not to be disturbed; that this would keep all real excess of paper in check, and leave gold to resume its circulation when, by the natural influence of peace, it flowed again into the country. These were, accordingly, carried.
Finibus Bonorum et Malorum" by Cicero are also reproduced in their exact original form, accompanied by English versions from the 1914 translation by H. Rackham