Part 17 (1/2)

To be paid without deduction or fee, within one month after such conviction, on tendering a certificate to the Sheriff.

It is also proposed that the Treasury shall have power to issue out of the Duties of Customs a sufficient sum of money for prosecuting offenders against the Mint laws.

Whatever might be the effect of these amendments in the Mint laws, and necessary as they appear to be, it is still to be feared that until a new coinage of Silver money and Copper halfpence and farthings shall take place, no legislative restrictions, regulations, or punishments, can produce an effectual cure to this enormous evil; although, from the many deficiencies which have been detailed, it is evident a great deal of good may be done immediately in this way.

A coinage of Silver money is a great State question, which may require a fuller consideration; but no doubt can be entertained of the indispensable necessity of such a measure, as soon as circ.u.mstances will admit.

If to a new coinage of _s.h.i.+llings_ and _sixpences_, should be added an extensive coinage of silver money of the value of _four pence_ and _three pence_, according to ancient usage, it would prove a great convenience to the public, and remedy much of the inconvenience which arises from the ponderous nature of Copper money; while a smaller quant.i.ty would be required for circulation.

No doubt can be entertained of the nation deriving considerable advantages from having increased the weight of copper coin, so as to bring it as near as possible to the _intrinsic_ value of the metal of which it is composed.

This arrangement will, it is hoped, ultimately prove the means of effectually preventing counterfeits; and the copper, being a native article produced in the country, may in time, through the medium of _coined money_, become a profitable branch of commerce with foreign nations; where even an extensive circulation may be insured, in consequence of the _intrinsic_ and _denominative_ value being the same, or nearly so.

This is exemplified in the policy of Sweden, where the copper dollar being so heavy as to answer to sixpence sterling, has long been exported; and forms a considerable, and even a profitable branch of commerce to that nation.

In Russia the _Three Copee Piece_ is very nearly of the weight of six English halfpence, yet its current value is only a small fraction above one penny sterling;--and thus by issuing no copper coin where the _denominative_ is not in proportion to the _intrinsic_ value, every cla.s.s of dealers who vend the necessaries of life are s.h.i.+elded against loss; and every unnatural rise in the price of provisions for the subsistence of the poor is of course prevented.

This principle seems to have been admitted by the Legislature; for when the subject of Copper Money was under the consideration of the House of Commons, at a period not very remote, the Journals shew that an opinion then prevailed, ”_that the most effectual means to secure the Copper Coin from being counterfeited, was, that the denominative value of such Coin should bear as near a proportion as possible to the intrinsic_ value of the metal of which it was formed.”[50]

[Footnote 50: Journal, House of Commons, Vol. xviii. p. 178.]

In fine, it is a question worthy of attention, whether in order to prevent clamour, and to shut out at once all pretence for circulating any of the old Copper money, _good or bad_, after the period when Mr.

Boulton shall be able to furnish a sufficient quant.i.ty of halfpence and farthings for circulation, it might not be proper to consider how far it would be practicable as a measure of State policy, to introduce a clause into the proposed Bill, empowering the Treasury, within a given time, to receive all the old Copper Coin, good and bad, at a certain price per ton, allowing a _bonus_ to the honest holders of it of 20 per cent. above the current price of Copper.--This would at once clear the country of counterfeit halfpence and farthings, and would reconcile the holders to the loss; while the pecuniary sacrifice to Government would be more than compensated an hundred-fold by a compleat and instant renovation of this species of coinage.--As the chief part of the bad halfpence are good copper, they could be recoined, or sold, as might appear most beneficial.

It is earnestly to be hoped that the further regulations proposed will be adopted; and followed up, by an extensive coinage of Silver money, so as to s.h.i.+eld the honest part of the Community against a system of fraud, rapid beyond all example in its growth, and unparalleled as to its extent.[51]

[Footnote 51: It was suggested in a former edition of this work, that a coinage of _seven s.h.i.+lling_ pieces of _gold_ would be of great utility.--The expedient was adopted by Government at the end of the year 1797.]

Certain it is, that base money contributes more to the support as well as to the _increase_ of the number of those mischievous and abandoned members of the community, who exist _wholly_ by different kinds of fraud, than any other device which they pursue to enable them to live in their present state of idleness and debauchery, and to indulge in luxury and extravagance.

The increase is certainly astonis.h.i.+ng, since it is known that in London and the Country, there were some time since fifty-four actual Coiners, and fifty-six large Dealers, besides, at least, ten Die sinkers, whose _names_, _characters_, and pursuits, were perfectly known; but these bear no proportion to the horde of smaller dealers and utterers of base money in the Metropolis, and in most of the commercial and manufacturing towns in the kingdom. Their numbers must amount to several thousands. From being at present nuisances to society, in the constant habit of defrauding the Public, they might be rendered (through the application of the remedies proposed) useful members of the State; by changing a life of idleness and crimes, for a course of useful labour and industry.

CHAP. VIII.

_The magnitude of the Plunder of Merchandize and Naval Stores on the River Thames.--The wonderful extent and value of the Floating Property, laden and unladen in the Port of London in the course of a year.--Reasons a.s.signed for the rise and progress of the excessive Pillage which had so long afflicted the Trade of the River Thames.--The modes pursued in committing Depredations as the result of a regular System, which had been established through the medium of various cla.s.ses of Criminal Delinquents, denominated--River Pirates--Night Plunderers--Light Hors.e.m.e.n--Heavy Hors.e.m.e.n--Game Watermen--Game Lightermen--Mudlarks--Game Officers of the Revenue--And Copemen, or Receivers of Stolen Property.--The devices practised by each Cla.s.s in carrying on their criminal designs.--General Observations on the extent of the Plunder and number of Individuals implicated in this Species of Criminality.--The effects of the Marine Police in checking these Depredations.--The advantages which have resulted to Trade and Revenue from the partial experiment which has been made.--The further benefits to be expected when, by apposite Legislative Regulations, the System of Protection is extended to the whole Trade of the River.--General Reflections arising from the Subject._

The immense depredations committed on every species of Commercial Property in the River Thames, but particularly on West India produce, had long been felt as a grievance of the greatest magnitude; exceedingly hurtful to the Commerce and Revenue of the port of London, and deeply affecting the interest of the Colonial Planters, as well as every description of Merchants and s.h.i.+p-Owners concerned in the Trade of the River Thames.

The subject of this Chapter will therefore be chiefly confined to a detail of the causes, which produced these extraordinary and extensive depredations, and the various means by which they were perpetrated; and also to the remedies which have been successfully applied since the publication of the preceding editions of this Work, for the purpose of reducing within bounds, and keeping in check, this enormous and growing evil; for certain it is, that previous to the establishment of the Marine Police System, in the Month of July 1798, the increase had been regular and progressive, while the easy manner in which this species of property was obtained, generated an accession of plunderers every year.

To those whose habits of life afford no opportunities of attending to subjects of this nature, the details which are now to be given will appear no less novel than extraordinary; and with respect to the extent of the mischief in some instances perhaps incredible. The West India Planters alone have estimated their losses by depredations upon the River and in the Warehouses at the enormous sum of .250,000 a year. It cannot be unreasonable then to suppose, that the extent of the plunder on the other branches of Commerce, which form nearly 5-6th parts of the whole value of Imports and Exports, could not be less than .250,000 more, making an aggregate upon the whole of Half a Million sterling![52]

[Footnote 52: For a specific Estimate of the plunder on all branches of trade carried on to and from the port of London, see ”A Treatise on the Commerce and Police of the River Thames: with a summary View of the Laws of s.h.i.+pping and Navigation:” (now in the press) by the Author of this Work.]

Surprising as this may appear at first view, yet when, by a cool investigation of the subject, it comes to be measured by the scale of the astonis.h.i.+ng Commerce which centers in the port of London, (according to the annexed Abstract) and the vast extent of Floating Property moving constantly upon the River Thames, and the adjacent Wharfs and Quays subject to depredations; when by calculation it is also found, that the whole amount of the aggregate plunder, great and extensive as it appears to be, does not much exceed _three quarters per cent._ on the value of the whole property exposed to danger: the Reader will be reconciled to an estimate, which from the elucidations contained in this chapter, will ultimately appear by no means to be exaggerated.

ABSTRACT

OF THE _IMPORTS_ INTO, AND THE _EXPORTS_ FROM, THE _PORT OF LONDON_;