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Updated: May 20, 2025
His little ones cry for bread, and he has none to give them. Then come the professional agitators, the tempters, and tell him that there is enough and more than enough for everybody, and that he has too little only because landed gentlemen, fundholders, bankers, manufacturers, railway proprietors, shopkeepers have too much.
If the facts bear out the assertions of these bands of speculators we prefer a mild term why so much the better for the facts; but if not, sham-facts will answer the purpose, and to manufacture them 'is as easy as lying. It is a remarkable fact, by the way, that out of the multitude of British fundholders there are not more than about 25,000 persons who are liable from that source to the income-tax that is, who receive dividends to the amount of L.150 and upwards annually.
A new source of power revealed itself in this discovery of the resources afforded by the national credit and the national wealth; and the rapid growth of the National Debt, as the mass of these loans to the State came to be called, gave a new security against the return of the Stuarts whose first work would have been the repudiation of the claims of the lenders or as they were termed the "fundholders."
The words "a priest" reached the ears of several people, and produced uproarious jeering among the stockbrokers, for faith with these gentlemen means a belief that a scrap of paper called a mortgage represents an estate, and the List of Fundholders is their Bible. "Shall I have time to repent?" said Castanier to himself, in a piteous voice, that impressed Claparon.
The words "a priest" reached the ears of several people, and produced uproarious jeering among the stockbrokers, for faith with these gentlemen means a belief that a scrap of paper called a mortgage represents an estate, and the List of Fundholders is their Bible. "Shall I have time to repent?" said Castanier to himself, in a piteous voice, that impressed Claparon.
It had increased the public discontent by the establishment of certain taxes and the reduction of the debt to a consolidated third, payable in specie only, which had ruined the fundholders. It became necessary to maintain itself by war. The immense body of soldiers could not be disbanded without danger.
Southey supposes the dividends to be a free gift periodically sent down from heaven to the fundholders, as quails and manna were sent to the Israelites; were it not that he has vouchsafed, in the following question and answer, to give the public some information which, we believe, was very little needed. "Whence comes the interest?" says Sir Thomas.
Some persons, I well know, indulge a hope that the rejection of the bill will at once restore the domination of that party which fled from power last November, leaving everything abroad and everything at home in confusion; leaving the European system, which it had built up at a vast cost of blood and treasure, falling to pieces in every direction; leaving the dynasties which it had restored, hastening into exile; leaving the nations which it had joined together, breaking away from each other; leaving the fundholders in dismay; leaving the peasantry in insurrection; leaving the most fertile counties lighted up with the fires of incendiaries; leaving the capital in such a state, that a royal procession could not pass safely through it.
The total number of fundholders cannot be ascertained with any precision, but it must have been very considerable, especially in Paris and the other great cities. Add to these all the civil litigants in the kingdom, who had portions of their property virtually sequestrated by the suspension of the courts into which the property had been taken.
The state of the finances became more satisfactory: a part of the public funds had been paid, and that which still remained had just been registered in the "Great Ledger;" the fundholders accepted without too much difficulty the delay in paying the first dividend.
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