arifen from lowering intereft, even when the country was extremely poor, let us now fee, whether many circumstances do not occur at this particular time, to induce the legislature to inter fere, and reduce intereft to 5 per cent. The public funds are now felling at 4 per cent. All paper of good credit and flort date, is this day difcounted by molt of the banks in this city at 5 per cent and here I might answer the argument of my right hon. friend, who fays, that the nati onal bank is paid for difcounting at five, by the advantages it has received from government-by aking hime the other banks paid yet they do the fame. He alfo faid, the merchants were against it. There is no man will peak with more refpect of the mercantile body than I will, I refpect and esteem them; they are a body of most useful citizens; but I deny positively, that they are against it; but if they were, may I without offence fay, moft inerchants deal in difcount; and the merchant who does, is naturally diftracted between two profits: he looks to one hand for the profit of trade, to the other for the profit of discount. There may be other reafons for merchants not coming forward to declare their approbation of the measure now under confideration. The bank discounts at five per cent. but feldom paper that has more than two months to go. The merchant frequently receives paper that has a long time to run; perhaps fix months; he charges this paper with a difcount of fix per cent; but when it comes within two months, he car ries it to the bank, and gets it done at five, thus profiting on it one per cent. I do not mean to fay, merchants who do this are of the clafs I have mentioned, nor do I mean to cenfure them. Self-intereft is the spirit that rouzes individuals to the rifque of trade, and the gain is fair; but it deprives the other parties of a benefit, without ferving the state. Let me remind gentlemen of the establishment of the National Bank. In 1779 or 1780, a propofition was made to establish one-1 pro moted the fcheme-and afked in this House, would the fubfcribers agree to be limited to 5 per cent. intereft? they refused, and I oppofed the plan, with this declaration, that I wished to make every bank the means of reducing intereft to 5 per cent. and would confent to it only with that view. In 1781, when the plan of the Natonal Bank was again brought forward, I ftated, as one of the frongeft motives for it, that it would foon bring about a general reduction of in terelt to 5 per cent. It has operated fuccesfully in Dublin, country merchants difcount there, they are subject to the cult of exchange: Bat let me afk you, what right have you to confine this benefit to Dublin? Hitherto it has only had its effect in a certain degree amongst the merchants of Dublin, or those who deal through Dublin; but certainly this is not just or equitable, with refpect to the other parts of the kingdom—and if the reduction of intereft is not extended throughout, you do an act of manifeft injuftice, and behave like bad politicians, by making money cheaper in that capital than in any other part of the kingdom, and tempting manufacturers to fettle in it. Sir Jofiah Child, who has been fo often mentioned in this debate, fongly fupports the opinion I have advanced. He lays, repeatedly, and in the most direc terms, that low intereft is not a confequence, but a caule of national wealth-lower intereft, and you caufe an influx of money to trade-raile the intereft, men will draw their money out of trade, and live idly upon the income it will produce by being lent out. Whether this is a defirable thing in the prefent fituation of the country, I fubmit to the wildom of this committee. It has been afferted, that Holland never reduced her intereft; but if gentlemen will take the pains to enquire, they will find that Holiand, by a PLACART of the States reduced her intereft in 1640 to five per cent.-in 1655 to four, and in fome years after to three. But let us compare the fituation of this country now with what it was when this Bank was eftablished. Look to your linen trade, (the people con- The great operative principle of the bank, is HERE are my wonted pleasures flown! WOh, Memy, how my bofom bleeds! The fun of Fancy now is down, And Truth's calm light its place fucceeds. And weep till Mem'ry's self be dead. For Love and Fancy both were young. O ignorance! our joy and shame! Within my arms, tho' wild and rude, Pleas'd with each object and each aim, We feel no pangs of thought intrude. In life unskill'd, we count its charms Which Fancy paints with magic hand: Sufpicion wakes no harsh alarms, To fpoil the promis'd fairy land. Delighted with the scene, we ftray And deck with flowers the winding read ; And Hope allures us to the place, Tho' diftant fill the profpects feem; To Stupor give the lingering day! -Ceafe, fimple youth! forbear to moura, Forbear in wine to drown thy woe : Tho' Fancy's dreams no more return, Life ftill has bleffings to beftow. Tho' cares intrude-tho' hopes beguile, The youth is tranfient-joy remains ; Love gives to Life her happiest smile, And foftens all her wringing pains. Youth ftill is thine, and Daphne's eyes In thine all other eyes excelGo, and poffefs the Heav'n-fent prize, Whofe worth thou long haft known fo well. Go, and poffefs, in her and Love, The joys whofe lofs thy heart bewails; 1 Then shalt thou realife the scene Which Fancy's plaftic hand pourtray'd; Go, dwell amidst the fhades ferene, And love thro' life thy fylvan maid. The prefent Age., A Poem. O more, my friend, of vain applause, Or complimental rhymes; N° Come, Mufe, let's call another caufe, For of all ages ever known, For they are great, and I'm but small, No lawyers now are fond of fees, At church what crowded pews ! No foaking for his spouse neglects To make himself quite happy. See, gamefters, juggler, fwearers, liars, Happy the nation thus endow'd, So void of wants and crimes! Ha! think you fo, my honeft clown? The SUMMUM BONUM. The fchools about happiness warmly difpute, The following Verfes were ordered by the late Mrs. Turner, Author of the Breathings f Genius, and many other fugitive Pieces, in ferted in the periodical Publications, to be lail on her Husband's Desk a few Days before ber Death. They have been lavice jung as an Hymn, by a Congregation at large, and fo many Copies of them asked, that thy are now first publifbed in your weful Magazine, and thereby prefented to her friends, by FIDELIO.. HROUGH all the various shifting scene Of life's mistaken ill or good, TH Thy hand, O God! conducts, unleen, He portions with paternal care, Of joy and forrow, health, or pain. Truft we to youth, or friends, or pow'c, Fix we our feet on fortune's ball, When moft fecure, the coming hour, If he fees fit, may blatt them all. When lowest funk with grief or shame, Gorg'd with afflction's bitter cup; Loft to relations, friends, and fame, His pow'riul hand can raife thee up. His mighty confolations cheer, His miles ere th' afflicted head; His hand can wipe away the tear, That fecret wets the widow's bed. All things on earth, and all in heav'n, And all for greater good were giv'n, On his eternal will depend; Would man purfue th' appointed end. This be my case, to all befide Indiff'rent let my wishes be; Paffion be calm, and dumb be pride, And fix'd my foul, my God, on thee. FOREIGN 1 AN FOREIGN Conftantinople, July 8, 1788. TRANSACTIONS. N Avifo yesterday entered the Bosphorus with an account of the laft engagement between the Turks and Ruffians; the lofs on which occafion is reprefented as equal on both fides. The Capitan Pacha, whilft at anchor in the road of Codgea-Bay, being informed that the Ruffians had fent a fleet from Globock, compofed of galleys, flat-bottomed boats, and floops, inftead of letting them leave the river entirely, and cutting off their retreat, and attacking them with all his forces, went with his light squadron, compofed of the fame fort of vellels, to meet them. The Turk fought with great, intrepidity till the Ruffians fet fire to fome of their fhips with red hot balls. The Capitan Pacha's prefence, who fought with his ufual valour, could not hinder a great diforder, which the Ruffians took advantage of, and burnt and funk a number of galleys and floops. They fay a veffel was likewife loft belonging to a Candiot, who, feeing himself surrounded and ready to be taken, blew himself up, with his fhip. However, the garrifon of Oczakow has been reinforcen; and notwithstanding this check the Ottoman fleet is too fuperior to suffer the enemy to approach that place. They are arming fhips as faft as poffible to replace thofe which are burnt; and this lofs is forgot, and nothing now talked of but the evacuation of Moldavia. Prince Cobourgh was not able to refift a superior force which marched against him, headed by two Pachas, Manel-Bey and Prince Maurojeni, whom this event puts in poffeffion of his principality. We are affured they have joined and defeated the rear-guard of the Auftrian. Belgrade is not invested, and Abdi Pacha writes word, that fince the arrival of the laft fupplies nothing is wanting to hold out a long time. Naples, July 19. Mount Vefuvius has, for fome days paft, begun again to alarm the inha bitants with its flaming eruptions. The lava has conftantly been oblerved in a downward direction, flowing over the declivity of the mountain; but hitherto, great as their apprehenfion may be, they have experienced no material da mage. Vienna, August 16. The deputies of the Turkish garrifon of Choczim arrived on the gth inflant, at eight o'clock in the morning, at the camp of the combined armies, with a declara. tion, that as they had certain information of Ibraham Pacha being on the march to their relief, at the head of 30,000 men, they could, not give up the fortrefs; but requested, as the truce was thed expired, that it might be prolonged for ten days. This propofal met with the most direct refufal, and orders were immediately given for the cannonading to recommence from all the batteries. From the camp of Czerovriani we hear, that on the 9th of Auguft our troop attacked the Turks in their entrenchments near Dub.cza.— For this purpose General Brentano paffed the two bridges over the Uona, and approached the Odober, 1798. enemy's camp about four in the morning. The attack lafted from four in the morning till about hair paft fix in the evening, and terminated in the mott fortunate manner. The Turks were entirely routed; and in recompence to our troops for their valour, General de Vins, who com mands ad interim the army in Croatia, affigned to them the plunder of the enemy's camp.Our lofs confifted of only 27 killed, and 55 wounded. That of the Ottoman troops mult have been confiderable (though it cannot be ex actly afcertained,) as they were forced to aban don their camp and their redoubts with the ute moft precipitation, leaving their dead men in heaps one upon another. Since that action we learn, that our artillery has begun to play on Turkish Dubicza, which is now battered into a very ruin; yet the gar rifon continues obftinately to hold out. Genoa, Ang, 16. Our fenate having received advice that these coaits began to be again in fefted with Barbary corfairs, two large gallies were ordered out against them. Two days after they fell in with an Algerine xebec of 26 guns, when a bloody engagement enfued. It lasted about four hours, and the carnage was truly horrid. The Algerine, however, was at length forced to ftrike, when all on board were made prifoners, about forty excepted, who made their escape in a fhallop. The killed among the Algerines are not lets than fifty, among whom is their famous Reis, who fought like a true defperado, and would not quit his gun till forced from it by a fatal musket shot.- -On our part there were eight men killed, and eighteen wounded; and yefterday the prize was brought in with triumphant colours, amidit repeated fhouts of the people. Copenhagen, Aug. 20. Count de Bernstorff, the prefent prime minister of Denmark, has carried through the council a measure which will enable him to recrait the army with the greateft facility.This meafure is no less than the emancipation of all the vaffals and peafantry of Denmark, who have hitherto been confidered as annexed to the freehold, and paffed with it regularly like a gang of negroes to every new poffeffor of the foil. 23.] One Ruffian cutter alone has already brought no less than thirteen Swedish prizes into the port; and by order of vice admiral Deffen they are to be fold publicly on the first of September, to the great mortification of the Swedish ambassador here, who has lent a remonftrance on the fubject to his excellency the Compte de Beinstorf. Elfineur, Aug 23. A few days ago a Ruffian ingate of 36 guns was taken by the Swedes; the had on board about 120 cannons and other warlike ftores. Hague, Aug. 23 An expref is arrived from France, that the French government are infol vent; that they will pay all lite annuities of 500 livre and under, but thofe above that fum will only be paid one quarter part, and for the rest they will receive notes on the Trefor Royal, bearing an interch of five per cent, This blow to public credit will occafion great diftrefs, and A 2 2 4 no one can foresee how far the unhappy confequences of it may extend. Tunis, Aug. 24. The Regency, after having held a general council, refolved to take down the Imperial flag erected before the conful's houfe, which was done the 18th; and the corfairs were at the fame time ordered to attack and take every vessel they met carrying Imperial colours. Paris, Aug. 29. A complete change of the miniftry being now fully effected, a change of measures, it is hoped, may fucceed, which can only frience the clamour in every quarter of the kingdom, too ferious to be sported with. There is a period beyond which no minifter can or ought to proceed; the archbishop has feen this, and his matter is now convinced, that fuch measures never will be tacitly affented to. The Baftile, Chatelet, &c, are daily vomiting forth their inhabitants; all perfons confined on political questions will be released. Sept. 8. M. Necker, to our great joy, has already given public notice, that all fums due from the crown, whether confifting of rents, interefts upon loans, or falaries, are to be paid in ready cath. 15.] The keeper is banished the royal prefence, and all the members of the Paris Parlia ment are in town ready to repair to Ve failles, whenever his Majefty fhall be pleafed to hold his long-expected Bed of Juftice, which is to reeftablish affairs in fiatu qua. The Stocks are ftill falling, but every body thinks they will rise af ter the re-inflatement of Parliament, M. Necker has answered M. de Calonne's laft account of the state of the finances in France, in a small volume, 4to. He feems to prove by authentic papers, that instead of the ten millions of livres which M. N. affured were above the expenditure of the revenues, there are now 14 millions; an evident proof that the embezzlements have been enormous, Tippoo Saib's ambaffadors are to re-imbark the first week in October at Breft. The Indian ambassadors have obtained permif fion from the French King to take with them upwards of 300 artists in different branche, which they have engaged to go to India; the King has likewife given them 400 orphan chil drea, who have been practising the use of arms feme time, and are intended to recruit the army of Tippoo Saib. Hague, Sept. 6. The first fucceffes of the King of Sweden seem to have been followed by untoward circumftances, which have greatly crippled his enterprising defigns. His army bui been greatly retarded in his operations from the want of provifion, which is exceffive scarce in Finland. The chief object of the Swedes in the attack on the Ruffian garrison of Frederick. fham, was to make themselves mafters of the magazines of provifions ftored up there. Os the approach of general Siegroth to that place, the commandant fet fire to the fuburbs where the magazines were, and by this means frat. trated the defign; on which the troops immedi ately re-embarked on board the boats lying of the town, which they were obliged to do for want of provifions. The communication with the main army at Wyburg is, however, c off by the prudent movement of the King of Sweden. AMERICAN NEWS. Quebec, March 19. The Loyalifts are com ing into this province in vaft numbers; 700 families of Quakers from Penufylvania, and 197 families from Suffer, in New Jersey, are peti tioning for lands on Lake Erie. The lands on our fide of Niagara are already filled, and above 1000 families are now applying for a fettlement to the Eastward of Lake Champlain; Colonel Fitch, ot Connecticut, is at their head. INTELLIGENCE. BRITISH Falmouth, Auguft 23. Y exprefs this morning from Mavagiffey, a ftroyed him, for the fake of the chest of money, and were overheard; in confequence of which the landlord amused them till he had applied to the officers of juftice, to whom they confeiled Bing for about 20 miles eat from this the fact, and were committed to prifon. The port, we have an account of the brig Arnold, Abraham Campbell, of Yarmouth, from Bilboa for Hamburgh, with wool, Sec. The crew feized on the captain, chained him down to the deck, and beat him in a cruel manner, then plundered the ship of a cheft of money, a boat with fails, fome provifions, and other things, and made off to fea.- -The captain is fince dead. Some men who have been lately advertised on account of a murder committed on the mafter of a Ya mouth trader called the Arnold, were, on Friday at two o'clock, apprehended by Whitfield, a runner belonging to Juftice Smith's of fice, in Eaft Smithfield, at the fign of the Thirteen Cantons, near Irongate. It appears that thefe wreiches (who flept together) were boatjog of the manner in which they had thrown the antontuate victim overboard, or otherwife de corroboration of this melancholy catastrophe was made known from the evidence of the mafter's boy, who fwore to his hat. On Friday evening, about eight o'clock, a fire was perceived in the warehouse of Mr. William Fox, grocer, upon the Long row, Nottingham, wherein a large quantity of tow had been de pofited, which was entirely confumed. The inhabitants were greatly alarmed; but the flames were happily prevented from fpreading, by the timely affiftance and great activity of the foldiers quartered in that town, a cir A woman in a small town in Somersetshire has, in the courfe of three years, produced (at three births) nine children cumftance not a little extraordinary, confidering that her husband is but a journeyman taylor. Sept. 1] A plan is now concerting between the |