Three per cent. ditto 1751, 86

Three per cent. India Annuities 854

3 per cent. ditto 1757, 85ths

The price of 100l. three per cent. confol. 1751, is

861.

The price of 100! three per cent. India Annuities, is 851. 155. 31 Bank Annuities The price of 100l. 1756, 921 three and a half per cent. Bank Annuities 1756, is 921. 10s. The price of 100l. three per cent. Annuities 1757, is 851. 75. 6d. The price of 100%. 31 per cent. Annuities 1758, is 931. 105. For every 100l. of Bank circulation a premium is paid of 1l. 12s. 6d. India Bonds 15. to The premium for India Bonds is from 15. to 45.

31 per cent. An. nuities 1758, 931

Bank Circulation 1l. 12s. 6d.

45.

In comparing the prices of the different ftocks one with another, it must be remembered, that the intereft due on them from the time of the last payment, is taken into the current price, and the feller never receives any feparate confideration for it, except in the eafe of India bonds, where the intereft due is calculated to the day of the fale, and paid by the purchafer over and above the premium agreed for. But as the intereft on the different ftocks is paid at different times, this, if not rightly understood, would lead a perfon not well acquainted with them into confiderable miflakes in his computation of their value; fome always having a quarter's intereft due on them more than others, which makes an appearance of a confiderable difference in the price, when, in reality, there is none at all. Thus, for infance, old South-Sea Annuities fell at prefent for 851. or 851. 10s. while New South Sea Annuities fetch only 84 1. or 841. 15s. though each of them produce the fame annual fum of 31. per cent. but the Old Annuities have a quarter's intereft more due on them than the New Annuities, which

amounts to 15. the exact difference. There is, however, one or two caufes that will always make one species of annuities fell fomewhat lower than an other, though of the fame real value; one of which is the annuities making but a fmall capital, and there not being, for that reafon, fo many peopie at all times ready to buy into it, as into others, where the quantity is larger, because it is apprehended, that whenever the government pays off the national debt, they will begin with that particular fpecies of annuity, the capital of which is the fmalleft.

A ftock may likewife be affected by the court of chancery; for if that court should order the money which is under their direction to be laid out in any particular stock, that ftock, by having more purchafers, will be raised to a higher price than any other of the like value. Befides the ftocks in the fcheme we have exhibited, there are feveral others which are managed nearly in the fame manner, royal affurance; London, ditto; navy bills; Million Bank, &c. which when fet down may be explained like the reft.

as the

By what has been faid, the reader will perceive how much the credit and intercit of the nation depends on the fupport of the publick funds.-While the annuities, and intereft for money advanced is there regularly paid, and the principal infured by both prince and people (a fecurity not to be had in other nations) foreigners will end us their property, and all Europe be interefted in our welfare; the paper of the companies will be converted into money and inerchandize, and Great Britain never want cath to carry her schemes into execution.

In other nations, credit is founded on the word of the prince, if a monarchy; or on that of the people, if a republic; but here it is eftablished on the interefts of both prince and people, which is the frongeft fecurity; for however lovely and engaging honefty may be in other refpects, intereft in money matters will always obtain greater confidence; because many people pay great regard to their intereft who have but little veneration or virtue.

An

An Account of the Sea-Ware, or Herb of aubich Kelp is made in the Highlands of Scotland, by which the Value of many Eflates there bas of late been greatly increafed Communicated by a Gentleman of Scotland.

HE ware or herb of which kelp

Tis made is of two forts, yellow

and black, different in their properties as in their colours.

The yellow ware, which was the only kind made into kelp till within these few years that people became exceedingly expert in the manufacture of this ufeful commodity, is, on that account, generally known by the name of kelp-ware.

It grows upon ftones and rocks, lying in fuch deep water that they are feldom acceffible, except at the ebbing of spring tides.

From its fituation this ware cannot be carried out upon horfes, or otherwife at pleasure; but is with great labour collected into bunches, and made faft to the rocks by ropes, fo that the flowing of the tide fets it afloat; when the people return and carry it off in boats, or drag it on fhore.

The ware which grows as is gathered in this manner, is a plant confifting of many fmall ftems or fibres, which connect together a number of round hollow fubitances in the form of nuts. This plant from its formation can have little juice or fubftance to fit it for a manure; but has a tendency to vitrify; which makes it extremely proper for manufacturing into kelp. And accordingly it was, till within thefe few years, the only ware ufed for that purpose, and is fill the principal ingredient made into kelp, and at a lefs expence, and to greater advantage than any other of the different kinds of fea ware.

The black ware likewife grows upon ftones or rocks along the fhores and creeks, but in fhallow water; fo that, though overflowed generally by every tide, it is always acceffible at ebb-,

water.

From its fituation the black ware may be carried off upon horfes, or in boats where it happens to be on an illand, without the labour and expenfive operation of collecting it; which has been described as neceffary in gathering the yellow.

The black ware has a flat broad ftem, which fets out feveral branches, and has a great number of leaves of a tolerable fize, fomewhat refembling the foliage of oak wood.

This plant from its formation has a good deal of natural juice, which, together with falts acquired by the overflowing of the tides, makes it an excellent manure. Accordingly the black ware being fitter for that purpofe, and at the fame time got at a much less expence, is alone ufed for manure; while the yellow ware is manufactured into kelp, an ufe for which it is better adapted, and which makes returns better able to bear the expence of gathering it.

To the AUTHOR of the LONDON MAGAZINE.

SIR,

Jan. 30, 1771.

WHETHER party divifions are,

or are not the fupport of the English conftitution may be a doubt ; but it is a great misfortune that individuals, in fuch cafes, though deferving of the highest praife, should be fubjected to every invective of party rage.

The commemoration of this day has occafioned more injuftice of this kind, than ever happened in this nátion, or it is hoped ever will again.

The goodness of heart, and excellency of the difpofition of King Charles the First, will ever be recorded in the annals of time; and when our paffions and prejudices have fubfided as to him, his character will be admired, allowed, and revered; and his principles of justice and moderation in fuch an exalted ftation, will be acknowledged as unparalleled: educated as he was with the then fathionable notions of prerogative inherent in him by defcent from his ancestors, his conduct will appear confiftent with his character.

Queen Elizabeth well fupported her prerogative in its full extent, during her long and glorious reign; and her fubjects not only approved of it, but thought themfelves happy under it, and they certainly were 15.

It was the misfortune of King James the Firft, who fucceeded her, that he did not with all his pedantick wildom know how to fupport his favourite prerogative on that bafis

E 2

which

which his immediate predeceffor had fo gloriously established, and it is well known that he laid the foundation for his fon's misfortunes by his ill-timed exertions; and left him the kingdom in an evil hour.

It was very foon after King Charles began his reign, when he was befet by a pack of the most artful villains, that, under the mafk of the most profound hypocrity, ever difgraced this nation. He was fcarce feated on his throne when they oppofed and betrayed him, that excellent character which adorned his private life, and was admitted fo to be by his very enemies, they never once trufted to in his publication; he was refufed the tonnage and poundage in his first feffion of parliament, contrary to all precedent, which, high as the notions of prerogative was then held, was a great trial of his patience, and was too violent a beginning not to raise a ferment in the nation. Had he trusted to his own judgement and difpofition in thefe matters preferably to that of others, his abilities would have raifed him above the malice, or even the fubtilty of his enemies.

Mr. Rapin, who has fkilfully urged every thing that could be faid against te king, has fummed up his character in fubftance as follows: "He was (fays he) foher, temperate and chaste; a good husband, a good father, and a good mafter; never was any thing perhaps fo punctual and regular in his devotions both public and private; he abhorred all debauchery and could not endure any obfcene or profane word; he was a fincere member of the church of England, and was endued with a great many virtues and noble qualities, and there was room to believe his failings flowed entirely from the defign he had formed of enflaveing England; and that if, on fome occafions, he followed not exactly the rules of fincerity, it was only in order to be the better able to execute what he had undertaken; had it not been for this unfortunate project (adds Rapin) he might be faid to be one of the molt accomplished princes that ever fat on the English throne."

Whether the above charge of infincerity and attempting to enflave England can appear confiftent or compatible with the king's character

as above given must be submitted to your readers; it appears to me much more credible from what Rapin has faid, that the king, as an honest man, deemed himself bound to preferve the prerogative of the crown inviolate, and tranfmit them to his fucceffors as his predeceflors had tranfmitted them to him, and that he acted upon fuch principles confcientiously.

Lord Clarendon, who knew every fpring of his actions, accounts more experimentally for the misfortunes attending that reign: "The king (fays his lordship) had an excellent understanding, but was not confident enough of it, which made him oftentimes change his own opinion for a worse, and follow the advice of men that did not judge fo well as himfelf; this made him more irrefolute than the conjuncture of his affairs would admit."

He fought a good fight in defence of his religion and monarchy, and the anarchy that followed too fatally convinced us of it. He finished his courfe exemplarily; and as Rapin fays, fuffered death with great conftancy and refolution, without fhewing the leaft fign of weakness or amazement. The trueft instance of heroifm, and of the uprightnefs of his intentions.

We have been taught to believe it criminal to dwell on his virtues, as being one of the family of the Stuarts; but alas! he was a rara avis among them, and the times now make it neceffary to refresh our memory with our paft calamities.

The voice of liberty becomes fo licentious, and so much in the language of thofe unhappy times, that we ought to open our eyes to conviction, and our ears to the accounts which we daily receive of a repetition of those very calamities in Poland.

Though Poland has a king poffeffed of the trueft courage and fortitude, and who is bleffed with the beft of characters; the mifery of that country is now not to be equalled: but what will not liberty and licentioufnefs, uncontrouled by the laws of its country, attempt and perpetrate? Civil war, with all its evil concomitants, is now defroying and defolating that unhappy country; and it will be wonderful from the account of it, if the king, however deferving of

a

a better fate, fhould efcape being murthered or dethroned by his own fubjects.

Such recent troubles make the commemoration of this day more than ordinarily ufeful and neceffary to us; and, when we confider the unexampled goodness and exemplary conduct of our prefent king traduced and vilified with impunity by foul mouthed whifperers, we ought to guard ourfelves against fuch depreciating attempts, and with fervency exhort, in our several stations, our fellow-countrymen and Britons "as free, not to ufe their liberty (as St. Peter exhorts them in the ritual of this day) for a eloke of malicioufnefs, but as the fervants of God, honour all men; love the brotherhood, fear God and honour the king."

A

P. B.

POLITICAL DISSENSIONS. To Mr. WILKES. SIR, Monday, Jan. 14,1771. N agent of yours declared fome time ago, that it would be ufeful to you and your affairs to come to an open rupture with me. From this opinion has flowed all the abuse which has lately been beftowed upon me in the public papers. I believe you have mistaken a strong inclination for policy, and have yielded to a natural bias in oppofition to honefty and your intereft. For near three weeks paft I have been pretty clofely confined to my chamber by indifpofition, and, except the Public Advertifer, have only feen fuch papers as my friends have brought to me, whofe kindnefs made them feel more fenfibly than myself the injuries you have offered me.

I have hitherto feen very little worthy of an anfwer, except the particular charges in the Gazetteer of laft Tuefday. I think it due to the public, to my friends and myfelf, to give to each as particular an answer. Sir, as I have never either in public or private life copied your example, I fhall not do it in this my juftification: inftead of a defence, your method has always been to recriminate; on the contrary, I thall in this letter confine myfelf to the charges brought agaift me: in a future letter will explain the nature and caules of the differences between us: they ought

to be made public, because the objects. are not private.

The Westminster business I fhall referve for my future letter, because it is one of the pretended causes of difference. The other charges I think are, 1. That "I fubfcribed to the Society of the Bill of Rights, but never paid one fhilling."-2. That "I have received amazing fums for Mr. Serjeant Glynn's election, ten guineas each from most of his friends.”—3. That "I have received fubfcriptions for the Widow Bigby's appeal."-4. That "I have received fupfcriptions for Mr. Gillam's Trial."--5. That “I have received fubfcriptions for the affair of the Weavers in Spitalfields."

Thefe five charges I understand to be of a public nature. After which there is a charge upon me of a private fraud in a story about Mr. Foote's Pamphlet, and Mellrs. Davis the bookfellers.

These particular charges I undertake to answer, and if there is any other that I have omitted to take notice of you will pleafe to remind me of it: if there is any other that you have omitted, your have my free leave to bring it.

First, I never did fubfcribe any thing to the Society of the Bill of Rights. It is true, that in the accounts of that fociety there will be found five guineas of my money; but thefe five guineas were paid by me at the moment of fubfcribing them, at the lait fubfcription made at the King'sArms Tavern in Cornhill, fome time before the establishment of the fociety at the London Tavern. Nor do I recollect at any time to have fubfcribed any money without inftantly paying down the fmall but numerous fums I have contributed. These poor five guineas were received, and the account of them brought into the fociety by Mr. B.

The fecond charge is, "the amazing fums received by me for Mr. Glynn's election; ten guineas each from moft of his friends." The subject of his charge no doubt puts me in a delicate and difficult fituation, because the particulars of it ought to be difcuffed only by Mr. Glynn and the fubfcribers; and I am bound to be very careful that whilst I juftify, myself 1 do