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The practical convertibilty is gained in France, by manufacturing towns preparations have been made purchases of bullion by the Bank, at a loss when to work short time, and spinners propose to abstain that becomes necessary. The Bank of France has from gas. These embarrassments arise partly from paid in the last year a considerable sum for bullion causes that the legislature cannot control. For to maintain its strength. So, in the same manner, them no censure is, or can be, deserved by states. our issuers of notes should not only hold themselves men. They err, not in providing against what responsible for their convertibilty; as they are now may be unavoidable, but for aggravating calamities responsible ; but take. upon themselves all the into catastrophes. The law makes provision for charges, and cost, and counselling for that purpose. an artificial contraction of the currency at all

The banking interest are willing to adopt that seasons and times when it has been contracted course, with a few exceptions ; but the monied in previously by natural means—and that must always terest—not the vast class who live upon the regular be the case, while the domestic circulation is regu. returns for their money, either from the gentle lated by all the movements of the foreign exchanges, manly simplicity of the three per cents, or any unless the Government buy gold, as in France, at investment more profitable—but the class, from a a loss; or tax its exportation, not as a means of few large and notorious houses, down to the persons raising revenue, but of keeping it in the country; who discount bills, and partly pay the proceeds in although that might be often evaded, and would horses or wine ; who dabble for money, hunt for be an exceptional policy in many respects, but bargains, and pass through life in a very irregular better and cheaper than the present system. description of trading, -possess power enough to A steady domestic circulation might be based on check a reform in this law; either because politi- onr sorrows-that is to say, on our taxes; for a cians are very poor and easily influenced, or very nation bound to pay sixty millions annually for rich and slightly interested.

being governed, can always have thirty millions of The pressure of a high rate of discount upon currency at full value, is it be made, like sovereigos, profits is often severe. It is easy to say that a a legal tender for duties and taxes. mercantile house should not be put down for two If the Government dislike the trouble of a and a-half per cent, by those who do not know national system, the circulation would get on that business in some departments is done for that smoothly by leaving it alone ; after providing that profit; yet the statement has little to do with a those who issued notes should deposit ample secumatter that involves, not only two and a half per rity for their redemption in some way, and telling cent., but everything. It is not the cost of them, they were responsible to find the amount of money, but the fear of not obtaining it at any cost, their issues in gold and silver when they were which brings distress, idleness, and want among required. Bankers can manage their own affairs the industrial classes, reduces their number, and quite as cleverly as any other class of men. If adds all the reductions to that of the dependent, they understand that they must pay their notes in who often become the improvident classes. one of the two precious metals, they will provide

If the country must bave a fixed quantity of the means; and if the public know that every note bullion on hand, let it be procured, and kept in in circulation is backed to its full value by Governgranaries of gold, by those who make a gain of ment stock, they will not ask for bullion, except circulation. Or, when it has been obtained, let it for the purpose of foreign exchanges. Bankers

, be retained by a tax on its exportation.

in that case, would learn the measures absolutely The addition of two and a half per cent. to the necessary for their own safety. They would do rate of discount charged in this country during what has been done by the Bank of France - buy October, was made, not on account of any extra- bullion at a premium, on the approach of danger, vagant domestic trading, but to check the exporta- and keep peril at a safe and respectable distance. tion of bullion. It acted, therefore, as a tax of Any expenditure that might be incurred for that two and a-half per cent. upon the exportation of purpose would be small indeed when contrasted some two or three millions of bullion. Even that with the immense loss and suffering caused by the is doubtful; for the persons who exported the present system, and the contimal fear in which bullion may have had balances with their baukers, the public now live of some new crisis- because and done the work without the discount of a bill. it lias been out of one and into another for a long For this miserable check on bullion dealing-- period now; and that will be the case hereafter, miserable at the best-- a tax of two and a-half per until we have no interval to gather strength, and cent. was placed upon twenty millions of domestic recruit for the next struggle with Mammon, or transactions last month, and will be repeated this Moloch, or whatever other name of evil import month, and onwards, until relief is brought to belongs to the “Tutelarity" of Lombard-street many by the ruin of many more--not a ruin by and its precincts. two and a half per cent., but by panic for want The agitation of this subject some time ago of money, of which this is the sign.

induced the Government to grant a currency como Subscriptions are sought in Glasgow for female mittee in the last Parliament. They did nothing. operatives thrown out of employment there. AA new committee were named in the present considerable number have been deprived of work Parliament. They examined witnesses and refrom similar causes in London. In all the English | ported. The witnesses were chiefly of one class.

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Truth, as usual, was smothered by some of them hostilities, instead of common and vulgar war. under a mass of sophistry. Still the formation The history of each past crisis is one of fears, of a committee, and the necessity of a defence, not of realities. The mischief of every panic has must convince the supporters of the existing originated, not in the absolute compulsion of the monopolies in banking and currency-their sup- law, but in precautions taken to avoid its snares. porters less for direct than for indirect benefits- The baoks have never been very close to the line that their privileges are in danger, and that some which they dare not overstep, but in tremulous year the sense of the community will be roused and, we suppose, well-grounded prudence; they out of lethargy to remove them.

have saved themselves at the cost of the mercantile Will it be next year? We believe not. We and operative classes. believe in the passive nature of the public to an And yet we hear frequently that the people almost immeasureable length. They will flatter could not take care of themselves; that the prethemselves that they have free trade; yet in cious rights of property must be protected by a London, and for many miles around London, only ring of ten pound tenants of beer shops, and wee one company, upon any terms, can issue notes pawns, and“ publics,” in small borouglis; wbile in payable to bearer on demand.

country towns, and rural districts, property is That is free trade!

guarded by the respectability of forty shilling freeThe public believe in it; still, although there is holds in England, two hundred shilling holdings in not a joint-stock bank in England of Afteen years Scotland, or fifty pound tenantcies all over. standing, with its capital divided into shares of Have the electors protected themselves, or the one hundred pounds, yet no new joiut-stock working classes, from those sudden convulsions in company, for banking purposes, now be monetary affairs, which often make tradesmen formed with shares of less amount than one poor and operatives almost paupers, that in the hundred pounds. The law was framed to provide wreck of credit and means a small minority of the for the responsibility of shareholders; and the nation, who neither spin nor toil, may be enriched ? Royal British Bank is the evidence of its practical They might have effected that object under an working-the only evidence in existence.

equitable representation. At present even the And that is free trade!

electors have scarcely a chance of doing well The Bank of England could very nearly pay all The non-electors are helpless. its private deposits with the bullion in its pos- A similar crisis has not been averted in the session ; yet, if one-third of the depositors were United States, where the electoral rights are very to demand payment suddenly, the directors would general. We know the objection, and therefore be obliged to close their doors, unless they could we state it; but the intelligent artisans of the obtain an order in council to suspend the Bank States are all “ hastening to be rich," and living Charter Aet; and that is a very prudent law," for dollars.” The more intelligent artisans of maintained by very prudent men, who imagine that this country do not sacrifice everything for it is a wise act to leave a very ridiculous catas- money. They work to live. Their contemporaries trophe possible, in the hope that the depositors will in the States live to work. The one class earn not be so foolish as themselves.

money to spend it. The other carn money to Currency is the life blood of agriculture, worship it. And the intelligent workmen of both of commerce, of work in every department and countries have to contend with ignorant multitudes, state; and still we leave the internal currency more than equal to them in noise, but not here, at upon the narrowest possible basis, yet one of a least, equal to them in numbers. varying nature, subject to changes in every coun. This year-next year—will not see a change in try; to calamities in every land; and even to the the currency laws. No year will witness that change laws of every foreign nation, the expression of their until the people generally be relieved from the idea opinions, the realisation of their principles, or their that a mystery hangs round money, which only want of principle-laws over which we have no three or four acute men in a generation can penecontrol ; opinions which we cannot guide; prin- trate. The idea prevails. The myth of a mystery ciples which we cannot influence ; but which answers every purpose better than a real one. An are allowed so much to influence us, that the looms actual, hieroglyphical, labyrinthical, perverse mys. of Lancashire may be stilled, and the hammers of tery might be threaded through; but a mystery Lanarkshire may be silenced, by the errors of Ame- that has no existence, defies detection, or explana. rican idolaters of dollars, or the intrigues of some tion, or light, or search of any kind; and to the continental Emperor, who might be cunning end, while the pablic believe in what is not, they enough to spend three or four millions in monetary will pay for their error.

HISTORICAL SKETCH OF JERSEY. We have written sketches both of and in Jersey; The Druids retained possession of Jersey until have set forth the various prices of the different the subjection of Gaul by the Romans, who also adjuncts of life; chronicled the rents of houses, invaded and seized this island. They have left wages of servants, and prices of provisions ; de bat slight traces of their residence. A few medals scribed the soil and the climate; and the local pro. of their emperors and some mouldering encampducts under the united influence of both. But while ments alone denote their stay. we have been thus discussing each domestic sub- Next came the Francs, a barbarous nation from ject, and seeking to afford all useful information, the wilds of Germany. France yielded to their we have been silent as to what may be considered sway, and with France, Jersey. But we pass on a higher, if not so general a source of knowledge, from these remote and, perhaps, uninteresting and have said little or nothing of the history of times, to the invasion of France by the Normans, the island.

when these Pagan worshippers of Odin, subjugat. Now, the history of Jersey, unimportant in it- ing that country, made it the scene of havic and self, is worthy of consideration, from its intimate bloodshed. connexion with that of England, and as such The proximity of the Channel Islands to the should be deemed interesting by English people. coast of France, along which these barbarians had It is well to be tolerably conversant with the his- to pass, laid them open to attack; and accordingly, torical outline of those places which come fami- in a very short period, we find the Norman rule liarly before our notice. In these days every one supreme in Jersey. hears and speaks of Jersey ; cach year it is in- It must be remembered that long before this creasing in importance; hundreds of persons make period the island had been converted to Christithe island their summer residence ; hundreds, or anity. This change had probably taken place during even thousands, reside there in the winter, and its connexion with France, or under the Roman look on it simply, either as a refuge from tie cold sway. As we have before remarked, the Normaus or a pleasant place of amusement. But whatever were Pagans, and, therefore, inimical to anything it may be at present, it has been something else Christiau, and a signal instance of their Pagan than a place of mere amusement. Stirring scenes ferocity stands against them still, as one of their of warfare bave been enacted on its coasts; deeds first unworthy and brutal acts of aggression in of bravery performed on its shores, where brave Jersey. We allude to the murder of that misand gallant men have fought for and defended the taken but pious man, the simple, unoffending little island.

hermit, Helier, who had long been known and It has sometimes been considered that Jersey esteemed for his active benevolence and kindness. was originally attached to the coast of France, and This unfortunate recluse lived in a small cell, a severed therefrom by some convulsion of nature. desolate enough place, on a point of the rock on This is a mere hypothesis ; whether true or not, which Elizabeth Castle now stands. This point of we have no possible means of ascertaining. All rock is, at high water, completely isolated from the we know is, that if it ever had been so, the dis- castle ; and here, standing alone on that bleak point, ruption must have taken place at a very early may still be seen the little hermitage ; the spray of period; for in the reign of the Roman Emperor the winter sea dashing over it with cach great Antonius Pius, we find Jersey under the name of wave, the burning heat of the summer sun casting Cæsarea, mentioned as an island in the British its intense brilliancy upon it. Ocean. This name of Cæsarea was, of course, This cell is of the smallest possible dimensions, given by one of the Cæsars—it has been said, by more like a sentry box than a human habitation ; Julius Cæsar himself, during a visit the island ; | indeed, it struck us that such had once been its but this is not very probable, as Jersey was not original purpose, but this opinion wonld be conthen sufficiently important to attract the con- sidered heretical in the island, and therefore, we queror of Gaul to its coasts.

do not advance or seek to establish it. In reverence The earliest accounts we have of Jersey, prove for St. Helier, and for the esteem in which his cell it to have been the habitation of the Druids and is held, we accord him full right to it. So there the Celts. The remains of the Cromlehs and we repeat, the good hermit lived, practising a course temples of the former, are found in various parts of guileless Christian kindness, we much admire, of the island, and one of great magnitude and while we deplore the wretched error of his creed, perfection was discovered on the summit of the which led him to suppose bis confinement in so hill of St. Helier's, now Fort Regent, when in miserable a spot acceptable to the Deity. 1785, it was levelled, excavated, and formed into But the Normans saw nothiug to venerate in a parade. This Druidical temple is supposed to this holy man. Regarding him with the cruel be one of the most perfect remains found in bigotry of their religion, they looked on him as a Europe. It is not left in the island, Laving been legitimate object of persecution, and accordingly, presented by the States of Jersey to Marshal Con- after all the inventions of cruelty which savage inway, for very important services afforded by him. genuity could suggest had been exhausted, they

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mercifully, (for it became mercy then,) put him to was then called, and fortifying it as strongly a death; and thus gave him what he considered the they could, determined to abide the issue of greatest object of ambition, the reputation of a the struggle. martyr and a saint. In after ages, when the On came the assailants, using all the murderous Normans became the acknowledged masters of the implements of a seige known at that period. After island, one of their number, a Norman noble, Sir a spirited resistance a breach was made in the Guillaume de Hamon by name, in opposition to the walls, and the troops of Du Guesclin attempted feeling of his predecessors, hallowed the memory of to storm ; but their attempt was a failure, for the St. Helier, and sought to expiate the sin of his little band boldly and bravely defended their murder, by founding a monastery on the spot which stronghold, and repulsed the French. Still the had been the scene of his martyrdom. From this combat raged, neither party giving way nor falterhermit the principal town of the island takes its ing. Days and weeks passed on thus, and then a name.

more formidable enemy than even the fierce We pass on now to the year 912, when the soldiers of Du Guesclin came to scare the little Channel Islands became completely severed from garrison. Famine, with her guant and meagre the French dominion. The Norman settlers who face, stole in amongst them, and with her horrid remained in the island then coalesced with the aspect warned them to submit. But submission, natives, and formed themselves into a people inimical complete submissior, was not for them ; the terms to France. Numerous assaults and counter - of warfare had been equal, the terms of peace assaults took place, disputes were frequent, aggres. should be so too. A parly was therefore demanded, sions of common occurence : the two sister coasts and, as was very frequent in those times, a com. were constantly disturbed by puny warfare; a promise was entered into, by which it was agreed spirit of animosity was engendered, which handed that unless a relief came for the beseiged before down from generation to generation, may be traced Michaelmas, the Castle should at that time be even to the present day, in the dislike which every delivered to Du Guesclin. In consequence of Jerseyman manifests to being considered either of this agreement the Freneh forces were withdrawn French extraction, or in any way connected with -proper hostages being given by the defenders France. Things went on thus, until the Norman of the Castle for the fulfilment of the conditions. William usurped the English throne, and annexed Shortly afterwards Du Guesclin received intelliJersey, to what he then considered his own gence that an English force, for the relief of the possession.

beseiged had arrived, which, fulfilling the terms of We hear nothing particular of the island, during the agreement, delivered Jersey from Du Guesthe reigns of the succeeding Anglo-Norman clin's attempted subjugation. monarchs. In the time of Jobn, Normandy was In consequence of this brave defence, Gouray separated from the British crown, but Jersey was Castle received afterwards, from Henry V., the still retained to the English. This king, towards title of Mount Orgueil Castle, and it now retains the end of his reign, visited the island, and enter the name. taining no very friendly feeling, as we may suppose And here let us digress, and mention a little to his foreign neighbours, seems to have made the anecdote of this siege, which, although unimporstrengthening and increasing its various fortifica- tant in an historical point of view, still may be intions the principal object of his visit. He made teresting as demonstrating one of the minor good all the strongholds, and protected the har- miseries of warfare-one out of the many thoubours, thus affording to the island, all possible sands, where a home is made desolate, anguish security from the neighbouring coast.

carried to warm, loving hearts, by the indirect inAnd these precautionary measures were needed; fluence of the reigning strife of nations. At the for from this time we hear of predatory attacks by time of which we write, or rather a short while the French. In the reign of Edward the Third, before that time, for we must retrograde to about these assumed a formidable appearance, for at that six months before Du Guesclin's invasion, there period Du Guesclin, with ten thousand troops, lived, in a strange old house, a goblin looking sailed from Brest against Jersey. It says some place, where bats and owls alone ought to have thing for the supposed importance of the island resided, and spirits kept their revels, one of the that so large a force, under so experienced a most beautiful girls the suu ever sbone on. leader, should have been sent to claim and take “Angeliqne de St. Réné” was fitly named; possession. The Duke de Bourbon, together with angels must have breathed on her at birth, and some of the French nobility, accompanied the given her their own pure nature. Even as a child expedition.

the loveliness of her temper and disposition was The inhabitants of the island, unaccustomed to apparent, and as she grew to womanhood, age 80 large a force, felt open resistance to be useleas. seemed to perfect that which early youth had Any opposition to the landing would have been futile; promised. to stand on the defence was the only chance for the Nature seemed to think she had done enough for unfortunate islanders. With these feelings, under Monsieur and Madame de Réné, in bestowing this this impression, they garrisoned the principal one matchless daughter on them, for no other fortress of the island, the Castle of Gouray, as it children blessed (as it is generally said) their union.

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Whether any others would have been considered a ' you want to marry Angelique? the baby Angelique !" blessing by them or not is doubtful. They were and the old woman laughed so provokingly. José very far from rich, although they had plenty for wished she had been a man, and unconnected with themselves and Angelique,-quite enough—and Angelique, that he might have knocked her down, perhaps a little, but only a little, to spare. But as a safety valve for his excited feelings. But she what was quite enough for four, i.e. themselves, was not a man, she was the mother of Angelique, Angelique, and a servant, would have been barely and be could not enter into a pugilistic encounter enough for more than four—and not nearly enough with her, so he stood before her looking very for a successive race of little Rénés, with their ne. foolish ; very wretched, and very uncomfortable, cessary appendages of nursemaids and attendants; and thinking that he would like to creep under the so, under these circumstances, the progenitor Réné table or any where else, and hide himself until the came to the wise conclusion that the greatest interview were over. blessing any forthcoming children could bestow was But all this time, Madame had not said cither by just keeping away.

“no” or “yes” to his demand, and he wanted Seventeen years of sunny life, (for Angelique's either the one or the other; so he trotted up his was a sunny life) flew by, and then came an un- courage to the stumbling block again, gave it a expected trial for her parents; for Angelique's blue kick, and over it went with a bound, and carried eyes rested on the handsome face of the young José him right into the middle of the portentous question. de Quetteville, and Angelique's willing ear listened “Will you give me your child or not, Madame ?" to certain wbispers which he poured into it, some And Madame leant a little bit more forward on nonsense about love, and marriage, and such like her chair, pressed her hands a little bit more firmly folly, at which, of course, she ought to have felt on her knees, and stared at bim (at least so he annoyed and distressed, but at which she seemed thought) much more fixedly in the face, as she devery much pleased, and to them her clear blue liberately 'refused. eyes and parted lips seemed to give a satisfactory “No, Monsieur” she said, “ Angelique is a reply.

wicked girl, to go and listen to you about such She was a very bad girl certainly, to go and fall things; and you must have taken great pains to make in love in that unpremeditated way, without even her so bad, for I am sure she would not have let any telling her parents she meant to do such a thing, one else talk to her so, (José was glad to hear and asking their leave; a very bad girl indeed; and that). Marry hier indeed! such a child! why perhaps José thought so too, for as they walked Mousieur, she is hardly out of her cradle !” through the deep valley, on the side of which their And Madame puffed and panted like an enraged house was situated, he told her he must speak to grampus. her parents and ask their consent, not to his loving Marry! eh! mon Dieu ! what next?" you should her--he had forgotten all about that, but to his think of her age Monsieur, before you talk such carrying her away with him, and transforming her nonsense ; but you are only a boy yourself. from a simple child, into an important married José de Quetteville felt very much offended; woman-a matron.

and suggested that he had reached the mature age Angelique was awe struck at the notion, and of twenty-three, while Augelique was seventeen. she looked very steadily at a wild rose, which was “ And if she is seventeen, Monsieur,” the old bending towards her from the hedge and asking to lady continued "what of that? I was forty when be plucked ; and as José looked where she looked, I married her father, and he was but one year (for even his looks seemed unconsciously to run in younger. That was something like a marriage; the same direction as hers,) and his glance fell on people of a decent, sober age; but seventeen and the flower, he fancied Angelique must have turned twenty three ! Grâce! I will go for her father, and thief, and stolen from that pale rose the blush let him talk to you; and away she went, and very which dwelt on her own cheek.

soon returned with the pêre de St. Réné. “There," After a few hours of resolution, he summoned and she pointed to ber husband, " I have told him up courage to go through the dreadful ordeal of what you meant-now, listen to what he says. confiding his wishes respecting Angelique to Poor José raised his eyes to the face of his Madame. It was a dreadful thing to do; if it had father-in-law, as he hoped be would become, esbeen any one but Angelique, he fancied lie would pecting to see there, ire and refusal, and everynot have cared so much—but to have to say he thing disagreeable ; but instead of these there was loved her, and wished to marry her, why it was a merry twinkle in the old man's eye, which ennothing less than dreadful.

couraged him. And Madame made it still more dreadful by the "So you want to marry Angelique." way she took the intimation ; for she pushed the The unhappy José began to stammer out an table near which she sat away from her, and then, assent, but he was interrupted by Madame. with both hands placed on her knees, she sat staring

“So sinful of her to fall in love with a young as if poor José had been a burglar, or a murderer, or man.' any other wild beast who had just made some

“ Would

you have her fall in love with an old horrible consession.

one, ma femme ?" and the merry twinkle of the eye “Mais - dame, "she cried” what do I hear? | continued.

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