FINANCIAL REFORM IMPERATIVE: 
 
 REMARKS 
 
 I! H LATIV E T 0 T II E POSSIBILITY 
 
 EQUITABLE ADJUSTMENT 
 
 NATIONAL DEBT. 
 
 LONDON: 
 
 PUBLISHED BY EFFINGHAM WILSON, II, liOYAL EXCHANGE. 
 
FINANCIAL REFORM IMPERATIVE. 
 
 “Tliis is tlic uge of Piaciical Legislation.” 
 
 "No Administration can hereafter maintain its position, unless it he based upon 
 Popular Support. 
 
 “Henceforth the welfare of the Nation must ho the primary object of all Govern. 
 
 “Taxes to he just must he voluntary and ecpial, and also beneficial to those who 
 pay them; and unless applied to the purposes for which they are raised, are worse 
 than injurious,” 
 
 Sucn were the sentiments lately promulgated from the hustings 
 by rising statesmen of the present generation, who having, for the 
 first time, placed their feet upon the ladder of power, appealed to 
 their constituents to replace them in their Parliamentary positions, 
 Surveying these important declarations, and the remarkable occur¬ 
 rences of the last few years, from a common point of view, it would 
 seem that just and equitable principles of Government are daily 
 becoming more lucid and more recognized. National Rights— 
 National Wrongs—and National Remedies,are being investigated in 
 a most rigid yet sober spirit. Increased education, expanded intel¬ 
 lect, and moral principles, are all called upon to furnish severe tests 
 as to the justice a nd expediency of our various Institutions. Clearer 
 
perceptions of National Rights are daily manifested—National 
 Wrongs are being severely scrutinized, and indignantly reprobated 
 —while National Remedies, either for National Rights withheld, or 
 National Wrongs unredressed, are propounded and listened to, both 
 in and out of Parliament, without, as heretofore, the originators 
 thereof being prosecuted for sedition or treason. 
 
 Hitherto the sweets of administration have been the object and 
 reward of party warfare. Two antagonist parties have made the 
 exigencies of the people their nominal battle ground—the one 
 seeking to maintain itself by standing on the past, the other by 
 professing to look to the future. Both these classes of opinions 
 have however been used rather as party ensigns, under which 
 adherents might gather, than true and heart-felt principles intended 
 to be abided by. These party conflicts have had a two-fold opera¬ 
 tion; one tendency being to create facilities for trampling upon 
 public rights, and augmenting the national burdens; another to 
 pave the way for the resumption by the Nation of the conduct of 
 its own affairs. The working of these opposite elements has been, 
 on the one hand, to accumulate a vast variety of separate and 
 clashing class interest, and to have fixed upon the present gene¬ 
 ration a National Debt of the most startling and unjust extent; and, 
 on the other, to develope the popular strength, and to point 
 inquiry towards the present position of the country, as well as its 
 hopes and fears for the future. 
 
 Under the stimulus of these party conflicts, the march of events 
 led to- Catholic Emancipation, the Reform Act, and other similar 
 measures, the chief value of which has been, by confusing and 
 embarrassing party motives, to stremrthen popular tendencies, to 
 encourage attacks upon class interests, and to prepare the way for 
 an utter dislocation of those servile feelings which have hitherto 
 bound a man to his party, whatever that might be, and however 
 contrary its rules of action to his own awakened convictions. 
 
 The most genial promoter, however, of these new sentiments 
 has unquestionably been the Reform Act; under its impulses; 
 popular opinion began to acquire breadth, direction, and vigour; 
 and a series of well-conceived aggressions were boldly commenced 
 against various grievances. The Law—the Church—the Body 
 Politic, in its various fiscal and other domestic relations—and the 
 Colonies, all felt that a new spirit was abroad, waving its wings 
 
5 
 
 over all things, and making mighty changes in the views and 
 opinions of the nation at large. 
 
 In the midst of the discord engendered by these assaults upon 
 what were termed vested (while admitted to be unjust and injurious) 
 interests, two remarkable men entered the political arena as the 
 champions and representatives of the antagonist principles of Protec¬ 
 tion and Free Trade in corn. It is, however, to be borne in mind 
 that each of these terms involves far deeper consequences than the 
 mere abolition or retention of a duty on grain • in fact, Free Trade 
 may be considered as the banner under which the war against 
 injurious class interests is carried on. It symbolizes the destruc¬ 
 tion of unjust burdens or restrictions; it advocates impartial 
 taxation, and tends to the redress of public wrongs, and the appli¬ 
 cation of national means to national purposes. Protection, on the 
 other hand, has hitherto practically been but another name for per¬ 
 petuating the follies, crimes, or mistakes of past generations. 
 
 Of the two men before adverted to, Sir Robert Peel stood 
 forth to the world as the ardent adorer of Protection. Free Trade 
 was represented by Mr. Cobden ; but except that each was the 
 Champion of the principle lie represented, no two men were more 
 dissimilar in position, character, or opportunity. 
 
 Sir Robert Peel possessed every advantage ; cradled in affluence, 
 endowed with fine talents and vigorous health, a carefully conducted 
 education paved his way to a brilliant University career, which 
 ushered him into political life with great eclat when almost a 
 beardless boy. Surrounded by these advantages, accompanied 
 with great mental vigour, he, while but a young man, became 
 a master in oratory ; and amid the conflict of party, and the 
 whirlwind of parliamentary strife, acquired the calmness, ex¬ 
 perience, and tact of a veteran statesman, and as time rolled on, 
 his pre-eminence was gradually felt and acknowledged. His con¬ 
 summate reconstruction of the Conservative Party, when almost 
 annihilated under the storm blow of the Reform Act, placed him 
 the unquestioned leader of a powerful band, which, under the 
 standard of Protection Doctrines, drove its nominal opponents 
 from the high places of power, and assumed the reins of Govern¬ 
 ment. From that time to the end of 1S45, Sir Robert’s will was 
 law, and his law supreme—by him men were made to shamefully 
 renounce the principles they had so long contended for; those who 
 
6 
 
 dared to differ were withered out of place and power, and Ms 
 position was apparently builded on a rock. Such was Peel. Now 
 contrast him with his rival. 
 
 In the year 1840, a small black cloud, no bigger than a man’s 
 hand, appeared in the political horizon. It consisted of a few 
 Provincial Traders, who, quickened by a sense of national wrongs, 
 which operated upon them prejudicially as individuals, had 
 banded themselves together to devise an efficient remedy. Now 
 these men had never been trained for political warfare. Immersed 
 in their various occupations, the conviction that great public 
 wrongs were systematically perpetrated, broke slowly upon their 
 minds—but though slow, it was progressive—and though it was 
 gradual, it was clear. Community of thought engendered unity of 
 purpose and combination of action; and at length the Anti-Corn 
 Law League came into definite being. Apparently, however, no 
 undertaking could be more forlorn or hopeless. Power—Place— 
 the Press—consummate tact, great talents, and a thorough know¬ 
 ledge of all the arts of manoeuvering, were the acknowledged 
 attributes of the opponents of the League. To counteract these 
 vast advantages, the conductors of the League had only to offer 
 uncultivated abilities, sound sense of the first order, a righteous 
 cause, unconquerable perseverance, and indomitable ardour.— 
 Foremost in the possession of these great qualities stood Richard 
 Cobdeni, the leader of the League, who from a farmer’s boy had 
 become a calico printer, and no doubt in the steps from the one to 
 the other, had acquired the seeds of that knowledge which he 
 afterwards used with such great success. Till this period however 
 he had lived on “ in the even tenor of his way,” unheard of and un¬ 
 known,except in his own immediate circle of friendship or business. 
 
 As the League progressed Mr. Cobden’s talents were elicited 
 and matured. His vigorous eloquence breathed conviction into 
 men’s minds. From narrow circles his hearers increased to crowded 
 muititndes, in whose presence he upheld the doctrines of Free 
 Trade, annihilated the facts of opponents, and exposed the fallacy 
 of their arguments, cut the ground from under their position, and 
 pointed the public mind to a sense of the justice of his demands. 
 From being the most despised of all associations, the League grew 
 to be a "great fact,” returned members to Parliament, collected 
 vaat pecuniary funds, and prepared for organic changes. Mean- 
 
1 
 
 while Richard Cubden, transferred from the arena oi' public discus¬ 
 sion to the floor of the House of Commons, rose with the occasion. 
 His fiery, yet not ungraceful eloquence, his wonderful method, his 
 untiring energy, his concise reasoning, the correctness of his 
 statistics, his unanswerable deductions, and his innumerable 
 facts, all evinced a master mind of the first order. Taking but 
 little heed of the minor victories that almost daily added to his 
 laurels, Mr. Cobden, as if a disdaining antagonist, advanced to the 
 attack of the powerful Premier, shivered his plausibilities, over¬ 
 whelmed him willi defeat, opened a new world to his understanding, 
 and appalled him by displaying the power of the League; until, to 
 the utter astonishment of botli supporters and opponents, the great 
 Minister suddenly renounced the friends and opinions of thirty 
 years standing, avowed his conversion to Cobden’s principles, and 
 while England, nay, the whole world, were astounded at his pro¬ 
 ceedings, propounded and carried a measure for the total abolition 
 of the Corn Laws, and then renounced the rod of government to 
 his old whig opponents, who thus attained power through the 
 medium of the League—which having attained its object, dissolved 
 itself, and became one of the things that were. 
 
 15y a singular coincidence, both these eminent men withdrew 
 themselves from the arena of political strife, not, it is to be un¬ 
 derstood, entirely—but the one for the purpose of preparing for a 
 nobler position—the other to consider the past, and reconstruct for 
 the future. And now what will be the future career of each of 
 these able men, is a great political problem. 
 
 Tiie motive for the line of conduct hitherto pursued by Sir Robert 
 Peel is almost inscrutable, and certainly no adequate solution of it 
 has yet been offered, but its tendency^ lias undoubtedly been to break 
 up parties into clans. There are, however, really but two points 
 of view from which lus conversion or perversion can be observed— 
 either it was conscientious, or resulted from the most profound 
 dissimulation. If the former be the case, the conviction forces 
 itself upon the mind that a statesman, who for thirty years could 
 avow and act upon clearly defined principles, and. in consequence, 
 gather round him a numerous party entertaining similar opinions, 
 and by their means raise himself to almost absolute political power, 
 and then suddenly upon an impulse, conscientious though it may 
 have been, cast to the winds the consistency and friends of many 
 
years, and league himself with their most bitter opponents, is not a 
 safe guide for a great nation. If, on the other hand, his conversion 
 was not conscientious, no apology can expiate his conduct. And 
 in either case the conclusion is irresistible, that as a leader, or an 
 ally, he is equally to be watched. Nor is he, prostrate and indiffer¬ 
 ent as he at present appears, to be treated as an extinct danger; 
 for, doubtless, his vigorous talents, his habits of public life, his 
 ambitious propensities and consummate tact, will compel him to 
 re-appear, and construct new combinations. 
 
 Simultaneously with the re-accession of the Whigs to power, 
 oocurred a series of events calculated greatly to embarrass any 
 Administration, much more so vascillating a one as they have 
 hitherto proved themselves. 
 
 The years 1845, 1846, and 1847, will be memorable in history 
 on manygrounds, exclusive of the events that have been adverted 
 to. The first of these years witnessed a movement of unparalleled 
 magnitude, both as regards the vast amount of national energy 
 called forth by it, and its future bearings upon social improve¬ 
 ments. Unquestionably the Railway movement was gigantic in its 
 growth, while it is equally certain that the check upon its progress 
 has generated much individual disaster, caused by the sudden 
 revulsion which took place at the close of the year, and has 
 scarcely yet subsided. 
 
 The year 1846 will be. equally celebrated. By a mysterious 
 visitation, which had been partially developed in 1S45, the 
 country was placed upon the verge of famine, from which it was 
 only rescued at an enormous sacrifice of its gold, while millions 
 of the inhabitants of the Sister Isle only escaped actual starvation 
 by being placed upon charitable rations, the means for which were 
 chiefly provided by the people of Great Britain, through the 
 medium of a loan, entailing upon themselves a large annual 
 addition to their already frightful burthens. 
 
 The year 1847 will also possess a sad celebrity. It has wit¬ 
 nessed a marvellous extent of monetary disarrangement, and a 
 most severe depreciation of every species of marketable property ; 
 and, as a necessary consequence, commercial failures, unparalleled 
 in number, weight, and variety, have already ensued, and it is 
 feared arc not yet terminated.. 
 
 Many other remarkable circumstances that might be separately 
 
9 
 
 expatiated at much length, are now only adverted to, though 
 all are gradually telling.with slow but certain effect upon the 
 future position of society at large. The formal recognition of 
 Free Trade, as an element of Government—the curious conversions 
 that preceded its adoption—the foul intrigues of the Spanish 
 Marriages—the annexion of Cracow—the approaching Cholera— 
 the outburst of Italian independence — Irish misery and Irish 
 crime—the Episcopal farces—will all be recorded as features of 
 the times, and as steps in the march of events, which will, 
 perhaps ere long, convulse society. 
 
 In the midst of these accumulated and portentous disasters, the 
 New Parliament has been convened, and the first sounds ringing 
 in the ears of its members are “ Commercial Distress,” “ Irish 
 Crime,” “ Sanitory Reform,” and the “Amelioration of the Naviga¬ 
 tion Laws.” Doubtless they are important questions, and well 
 adapted to excite much attention in the minds of members; but, 
 nevertheless, the Fiscal Relations of the empire, Church Reform, 
 the improvement of Juridical Institutions, and the Reduction of 
 the National Burthens, are, at least, as important, and will in due 
 season attract to themselves a much larger share of attention. In 
 fact, there is evidently a rising and strengthening public conviction, 
 that all reforms to be satisfactory must be substantial, and that 
 shadowy questions thrown out, like the tub to a whale, to divert 
 attention from more serious objects, will ere long be found totally 
 unavailing to obstruct the march of events. 
 
 Most prominent among the various important subjects to which, 
 in all probability, public attention will before long particularly 
 point, is that of the Public Burthens, which, however, it is impos¬ 
 sible can ever be satisfactorily adjusted until that great evil, the 
 National Debt, has been re-modelled. And this at once leads to 
 the principal object of these observations; that is, the consideration 
 of a mode for its gradual, yet effective and equitable extinction. 
 
 The National Debt is admitted to be a national evil of the first 
 magnitude; involving, as it of necessity does, the imposition of 
 taxes to an enormous extent; amounting, with the expences of 
 collection and incidental waste, to about thirty millions sterling per 
 annum. 
 
 The policy or necessity of the Debt, as regards its original con- 
 
10 
 
 traction, cannot now be discussed. It may, however, be laid down 
 as a fair position, that, as flic industry of the Nation was in effect 
 mortgaged in perpetuity by one generation under the force of 
 Legislative enactments, future generations have a right, if they can 
 so obtain it, to relief through the same medium, 
 
 The moral position of the Debt will, perhaps, be belter put by 
 the following illustration:— 
 
 A, (the Nation, as represented by the Administration for the time 
 being,) being in difficulies, applies to B, (the Original Contractors 
 for the Loan,) to advance him, say £ 100, which he agrees to do 
 upon condition that A and his descendants pay to B and his de¬ 
 scendants, or their nominees, £3. per annum for ever; and an Act 
 of Parliament, charging A and his issue, is accordingly obtained. 
 Subsequently A dies, without having left any adequate provision 
 for discharging his debts; but, nevertheless, his descendants, gene¬ 
 ration after generation, are compelled, out of the fruits of their 
 labour, to continue the payment of such £3:, until, finding it to be 
 an embarrassing and unjust, if not intolerable hardship, they seek 
 redress by the channel through which it was inflicted. In the mean¬ 
 while, however, the Annuity in question, having for valuable con¬ 
 sideration, passed into other hands, the diiiiciilty occurs of how the 
 legal and equitable rights of the one class are to be reconciled with 
 the moral and equally equitable rights of the other. 
 
 This is precisely the relation of the public creditors, and the 
 people who are the tax payers providing the interest of the Debt 
 —the Government for the time, being as it were, the natural 
 Trustees of, and arbitrators between, these apparently incompatible 
 interests. 
 
 Now it is suggested that this difficulty- may be overcome by 
 bringing into action an entirely new principle, whereby perfect 
 justice would be done between all parties, which is, 
 
 To gradually convert the National Debt into Terminable Annui¬ 
 ties, under the direction of the Government for the time being. 
 
 To effect this, it is suggested that an Act of Parliament be ob¬ 
 tained, either authorizing the creation of an entirely new and 
 responsible Board specially for the purpose, or extending the 
 powers of the present Commissioners for the reduction of the 
 National Debt, and empowering such Board to purhaso Consols 
 and other permanent Stock in the market, and re-issue the same in 
 
11 
 
 the shape of Terminable Annuities, equivalent in amount to the 
 annual interest of the Stock so purchased and converted. 
 
 It may here be noticed, that Long Annuities already form a 
 considerable portion of the Debt, and have always been as market¬ 
 able as Consols or any other permanent Stock, to which in fact, 
 they have always adjusted themselves. 
 
 Three conditions are essential to any proposal for the extinction 
 of the National Debt, viz. it must be just, expedient, and practic¬ 
 able; and to unite these important requisites is the great problem. 
 
 With regard to the justice of the Debt being extinguished, the 
 preceding observations, as to the relative position of the fundholder 
 and the tax payer, sufficiently establish that point. And with re¬ 
 spect to its expediency, there will not, it is apprehended, be two 
 opinions upon that head, if the practicability on the one hand, 
 and the equity on the other, meet on any proposition upon the 
 subject. Undoubtedly there are parties in the State anxious to 
 retain the National Debt, as a check upon any popular movement; 
 but this selfish reasoning is a part of the old doctrine, that men 
 are to be governed by the strong arm, rather than from the dic¬ 
 tates of reason. Thus though prudential motives are entitled to 
 consideration, obviously the chief difficulty is in the practical 
 application of the various means proposed. Of these, many would 
 be found either unjust or too violent—others too complicated or 
 insufficient—while some may be so clouded or circumscribed, as to 
 render their adaptation impracticable, or the result uncertain. 
 
 It was the fashion some time since to consider the Debt as a 
 positive advantage, because it was esteemed as affording an 
 opening for the surplus capital of the country; but this great 
 fallacy is now becoming exploded, and men no longer anticipate 
 with satisfaction investing their real capital in an imaginary sub¬ 
 stance, good and valuable, in point of credit, as the security 
 may be, especially as numerous other sources of investment, con¬ 
 sisting of actual and positive capital, are now open to receive 
 
 Taking all circumstances into consideration, it is submitted 
 that the mode before suggested, for the gradual extinction of the 
 Debt, by converting it into terminable annuities, is upon the 
 whole best calculated to effect the object in view, for the following 
 among other equally palpable reasons. 
 
1st. Its justice is unquestionable. 
 
 2nd. Its modus operandi would be simple and inexpensive. 
 
 3rd. The machinery for carrying it out already exists. 
 
 4th. It would not disturb the monetary relations of the country, 
 and it might be wielded according to prudential circumstances. 
 
 5th. Its progress would be sure and gradual. And 
 
 6th. It would not militate against the rights of property. 
 
 The flrst.reason has already been touched upon. 
 
 The 2nd and 3rd, 4th and 5th, may be concisely considered 
 together. The present Board of Commissioners for the Reduction 
 of the National Debt, with such additions as might be deemed 
 requisite, are obviously the proper medium. Let then their 
 officers, or agents, purchase in the market Consols or other Stock, 
 and re-issue them in the shape of Terminable Annuities. Thus, 
 taking Consols at £90, the Board would purchase them at that 
 price, and re-issue the £100 Stock so purchased as an Annuity of 
 £3, for say from 30 to 33 years, or even more. Suppose they were 
 even re-issued at 40 or 60 years purchase, it is obvious that the 
 public would be the gainers, because for every £100 so converted, 
 a certainty of getting ultimately rid of it would exist, whereas 
 under the present system it remains an eternal and almost intole¬ 
 rable burden. 
 
 In private affairs of society, transactions having relation to, or 
 extending over a far greater period of time, are being daily 
 entered into. And it must, it is considered, be beyond any 
 doubt that such a prospect as the Gradual Extinction of the Debt, 
 even though its first benefits would not accrue till 40 years hence, 
 would vastly stimulate the energies of the country, and break 
 up the national apathy which has been engendered by over and 
 unjust taxation, and thus open new sources of national advantage 
 in Colonies, Commerce, and the Arts of life. 
 
 The annual amount of taxes collected may be estimated at near 
 fifty millions. Now though this amount is virtually mortgaged in 
 anticipation, there is no doubt that arrangements might easily be 
 made for the passing of a portion of this through the Board before 
 adverted to, and it is calculated that from ten to twenty millions 
 per annum of fixed Stock, at the least, might be gradually converted 
 into Terminable Annuities, in the mode before mentioned, without, it 
 is apprehended, the monetary affairs of the country being in the 
 
13 
 
 least degree deranged ; and these newly-created Annuities would 
 become just as much the subject of commercial transactions- as 
 leasehold property which has thirty or forty years to run. 
 
 Had such a principle been adopted at the termination of the war 
 in 1815, and only fifteen millions per annum been so converted, 
 £500,000 of taxes could now be annually remitted, so that in 
 eight or ten years hence, or less, a gross sum of near thirty 
 millions of taxes would come off, exclusive of future reductions. 
 
 Supposing such a principle were now to be adopted, there seems 
 every ground for reasonably presuming that in a period of thirty or 
 forty years to come, its benefits would commence and continue, to 
 the unspeakable advantage of the empire, because the amount to be 
 hereafter annually reduced, would flow into other channels, and thus 
 in a double ratio augment the resources, grandeur, and security of 
 the State. 
 
 There is another point of great importance connected with the 
 subject, as deserving the most serious consideration. It is obvious, 
 that the system of contracting loans, whereby the national burthens 
 arc continually augmented in perpetuity, must at some time or other 
 come to a termination, I very much qnestion whether the tetlnf 
 is not now stretched to the utmost, and whether, ere long, men’s 
 minds will not altogether revolt from the system. Bring the injus¬ 
 tice of the debt home to the judgment, and disregard just represen¬ 
 tations but a little while, and possibly this giant incumbrance may 
 have an abrupt instead of a gradual extinction. Hence the ne¬ 
 cessity in a prudential point of view, of considering the subject, and 
 preparing for a friendly revision. The rotten borough system was 
 not so univetsal, so grinding, or so unjust an oppression as this ■, 
 but when Gatton was sought to be defended from a purifying 
 touch, the whole fabric was shaken to the dust. Let the past be a 
 warning for the future. 
 
 Even in these doubtful days of peace, when most men’s minds 
 revolt from the horrors of war, what is our financial position ? Is it 
 not with the greatest difficulty that the income and expenditure- 
 can be made to tally, and that only by an odious and unjust Income 
 Tax ? How then would it be, were this country to be again drawn 
 into the struggles and conflicts of continental politics ? Is another 
 seventeen hundred millions, with all its pernicious and demoralizing, 
 accompaniments, to be charged upon the industry of the nation? or 
 
It 
 
 how would the crisis be mel ? In the present convulsed condition of 
 tlie Continental States there is no guarantee against an almost uni¬ 
 versal uprising of the people at a moment’s notice. Undoubtedly 
 . great emergencies may arise, under which vast additional loans 
 may be imperative; leading, however, to more taxation, than future 
 generations can or will bear. In such event, who can calculate 
 consequences ? nevertheless, it is the duty of statesmen to legislate 
 for posterity, though not for posterity only. 
 
 There are', undoubtedly, two reasons of grave inportauce to he 
 taken into consideration, in connexion with any proposal for the 
 positive extinction of the Debt, namely, 
 
 That a compulsory conversion might not be altogether just; and 
 That the public Stocks, especially Consols, have been so long 
 recognized by, and connected with, the legal system of the 
 country, as regards Trust Estates, and Investments of Chancery 
 and other Funds, that their extinction would engender vast con¬ 
 fusion ; but I am persuaded that neither of these difficulties would 
 practically occur, were the Debt gradually extinguished in the mode 
 suggested. For, in the first case, the Sale would not be com¬ 
 pulsory ; and when the owner did feel inclined to sell his Stock, he 
 would do so in open market, and obtain the market price ; and it is 
 clear that directly he parted with it he could have no interest in its 
 future position ; while in trust cases, it would remain in precisely 
 the same position until sold in open market, either under the direc¬ 
 tion of the Court, or in fulfilment of the Trusts upon which it might 
 be held. 
 
 And now two grave points suggest themselves for consideration : 
 
 Is the National Debt ever to be extinguished ? and, if so, 
 
 Has the period for agitating its extinction arrived? 
 
 As regards the first question, the People must think and act for 
 themselves j as respects the second, let us in conclusion, survey 
 the aspect of the times. 
 
 As far as can be judged from external appearances the Whigs, in 
 resuming power, have returned to the errors of their way—feeble, 
 vascillating, and short sighted, they have relapsed into their old 
 system of disturbing without improving: and while, on the one 
 hand, they are impelled forward by bolder spirits than their own,