[150] North British Review, Nov. 1852.
[151] Edinburgh Review, Oct. 1849. The italics are those of the reviewer.
[152] See page 160, ante.
[153] Lawson's Merchants' Mag., Dec. 1852.
[154] Senior, Outlines of Political Economy, 152.
[155] At a recent discussion in the London Statistical Society, land in England was valued at thirty years' purchase, houses at fifteen, and land in Ireland at eighteen.
[156] This will appear a very small estimate when compared with those usually made, but it is equal to the total production of the land and labour of the country for a year and a half, if not for a longer period; and it would be difficult to prove that if the whole labour and capital of the country were applied to that purpose—food and clothing being supplied from abroad—it could not produce a quantity of commodities equal in value to those now accumulated in England. Even, however, were the amount placed at a thousand millions, the amount of wealth would still be small, under the circumstances of the case.
[157] See page 105 ante.
[158] The latest number of the Bankers' Magazine contains statements of two banks whose joint capitals and reserved funds are about £200,000, while their investments are about a million!—and this, would seem to be about the usual state of affairs with most of the English banks.
[159] Bankers' Magazine, Sept. 1852