TWO:During these disgraceful days the Church-and-King party took no measures to prevent the destruction of the property of Dissenters. Noblemen, gentlemen, and magistrates rode in from the country on pretence of doing their duty, but they did little but sit and drink their wine, and enjoy the mischief. They could have called out the militia at once, and the mob would have been scattered like leaves before the wind; but they preferred to report the outbreak to the Secretary-at-War, and, after the time thus lost, three troops of the 15th Light Dragoons, lying at Nottingham, were ordered to march thither. But the arrival of the Light Dragoons showed what might have been done at first if the magistrates had been so minded. The mob did not stay even to look at the soldiers; at their very name they vanished, and Birmingham, on Monday morning, was as quiet as a tomb. Government itself took a most indifferent leisure in the matter. It did not issue a proclamation from the Secretary of State's office till the 29th, when it offered one hundred pounds for the discovery and apprehension of one of the chief ringleaders.The proofs of this prosperity have been exhibited in various other ways. In 1815 the yearly value of dwelling-houses in England and Wales was 14,000,000 for nearly 10,000,000 of people; in 1841 the yearly rental was 23,000,000 for Under 16,000,000 of people; which, reckoning the rental at twenty years' purchase, shows an investment in houses of capital amounting to 180,000,000 in twenty-six years. Counting since the Peace in 1815, it was estimated that the real property of England and Wales in the form of additional dwellings must have absorbed 240,000,000 of capital. Sir Robert Peel, in bringing forward his proposal for an income tax in 1842, assumed the value of real property in Great Britain to be as follows:Rent of land, 39,400,000; rent of houses, 25,000,000; tithes, mines, etc., 8,400,000: total, 72,800,000, which, at twenty-five years' purchase, would be equal to a capital of 1,820,000,000. The annual value of real property actually assessed to the property and income tax in 1843 turned out to be much more than Sir Robert Peel estimated, amounting to more than 95,000,000 a year.
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