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TWO:The progress in the manufacture of hardware is strikingly exhibited by the increase of the population of Birmingham. According to the census of 1821, it was 106,722; in 1831 it was 146,986; in 1841 it was 181,116, showing an increase of 80 per cent. in twenty years. The number of houses during the same period was nearly doubled. Mr. Babbage has given a table, extracted from the books of a highly respectable house in Birmingham, showing the reduction in the price of various articles made of iron between 1812 and 1832, which varied from 40 to 80 per cent. The exportation of cutlery from England amounted in 1820 to about 7,000 tons; in 1839 it was 21,000 tons. Since 1820 the annual value of the exportations of hardware and cutlery increased about 50 per cent. The town of Sheffield is another remarkable instance of the growth of population in consequence of the manufacture of cutlery. In 1821 the population was 65,275; in 1841 it was 111,000. The various manufacturers of cutlery and plated goods, and the conversion of iron into steel, employed in 1835 upwards of[420] 560 furnaces. The declared value of British-made plated ware, jewellery, and watches, exported from the United Kingdom in 1827 was ��169,456; in 1839 it amounted to ��258,076. The value of machinery shipped to foreign countries in 1831 was only ��29,000; in 1836 it was ��166,000; in 1837, ��280,000; and in 1840, ��374,000.What immediately follows shows that Oliver had planned and brought to a crisis, by his personal exertions, this unhappy rising. On Sunday, the 8th of June, Jeremiah Brandreth, a framework-knitter of Nottingham, appeared with some others at a public-house called the "White Horse," in the village of Pentrich, in Derbyshire. This village is about fourteen miles from Nottingham, and about a mile from the small market town of Ripley. It is in a district of coal and iron mines, and is near the large iron foundry of Butterley. The working people of the village, and of the neighbouring village of South Wingfield, were chiefly colliers, workers in the iron mines or iron foundry, or agricultural labourers��a race little informed at that day, and therefore capable of being readily imposed on. This Brandreth had been known for years as a fiery agitator. He was a little, dark-haired man, of perhaps thirty years of age. He had been much with Oliver, and was one of his most thorough dupes, ready for the commission of any desperate deed. He had acquired the cognomen of the "Nottingham Captain," and now appeared in an old brown great-coat, with a gun in his hand, and a pistol thrust into an apron, which was rolled round his waist as a belt. LEARN MORE

TWO:In Canada the management of the war was more successful. To maintain the war in that quarter, Congress had ordered nine regiments to be raised. One of these was to be raised in Canada itself, and for this purpose a commission was given to Moses Hazen, who had formerly been a captain of rangers, under Wolfe. He was not, however, very successful. The Canadians were not to any extent disaffected to the British Government, and by no means well affected to the New Englanders, who were bitterly bigoted against Catholics, which the Canadians chiefly were. When Hazen and Arnold saw that the Canadians would neither enlist nor bring provisions to their camps, without cash payment, they commenced plundering for all that they wanted, and thus confirmed that people in their hatred of the Americans. They, moreover, insulted the Canadians by ridiculing their rites of worship.The distress which had pressed so severely on the people, and which had set them thinking about the most perilous political changes, was intimately connected with the state of the country. Throughout the troubled period of almost incessant war and lavish expenditure between 1797 and 1815, the business of the nation was carried on with an inconvertible paper currency, the precious metals having nearly all departed from the country. Bank notes were issued in such quantities, to meet the exigencies of the Government, that the prices of all commodities were nearly doubled. The Bill which was passed in 1819 providing for the resumption of cash payments had reduced the currency from ��48,278,070, which was its amount in 1819, to ��26,588,000, in 1822. The consequence was the reduction of prices in the meantime, at the rate of fifty per cent., in all the articles of production and commerce. With this tremendous fall of prices, the amount of liabilities remained unchanged; rents, taxes, and encumbrances were to be paid according to the letter of the contract, while the produce and commodities��the sale of which was relied upon to pay them��did not produce more than half the amount that they would have brought at the time of the contracts. The evil of this sudden change was aggravated by the South American Revolution, in consequence of which the annual supply of the precious metals was reduced to a third of its former amount. It was peculiarly unfortunate that this stoppage in the supply of gold and silver occurred at the very time that the Legislature had adopted the principle that paper currency should be regarded as strictly representing gold, and should be at any moment convertible into sovereigns. A paper currency should never be allowed[238] to exceed the available property which it represents, but it is not necessary that its equivalent in gold should be lying idle in the coffers of the Bank, ready to be paid out at any moment the public should be seized with a foolish panic. It is enough that the credit of the State should be pledged for the value of the notes, and that credit should not be strained beyond the resources at its command. The close of 1822 formed the turning-point in the industrial condition of the country. The extreme cheapness of provisions, after three years of comparative privation, enabled those engaged in manufacturing pursuits to purchase many commodities which they had hitherto not been able to afford. This caused a gradual revival of trade, which was greatly stimulated by the opening of new markets for our goods, especially in South America, to which our exports were nearly trebled in value between 1818 and 1823, when the independence of the South American Republics had been established. The confidence of the commercial world was reassured by the conviction that South America would prove an unfailing Dorado for the supply of the precious metals. The bankers, therefore, became more accommodating; the spirit of enterprise again took possession of the national mind, and there was a general expansion of industry by means of a freer use of capital, which gave employment and contentment to the people. This effect was materially promoted by the Small Note Bill which was passed in July, 1822, extending for ten years longer the period during which small notes were to be issued; its termination having been fixed by Peel's Bill for 1823. The average of bank-notes in circulation in 1822 was ��17,862,890. In November of the following year it had increased by nearly two millions. The effect of this extension of the small note circulation upon prices was remarkable. Wheat rose from 38s. to 52s., and in 1824 it mounted up to 64s. In the meantime the bullion in the Bank of England increased so much that whereas in 1819 it had been only ��3,595,360, in January, 1824, it amounted to ��14,200,000. The effect of all these causes combined was the commencement of a reign of national prosperity, which burst upon the country like a brilliant morning sun, chasing away the chilling fogs of despondency, and dissipating the gloom in the popular mind. LEARN MORE