The Sun. — London, England, 1819-04-10 00:00:00

LITENAIIY REVIEW. REPLY to the LETTER to the Right Honourable ROBERT PEET , on tht:I'ERNICIOUS EFFECTS.of a VARIABLE " STANDARD of VALUE. sro. pages 63. (Continued from yesterday's SUN.) In -answer to what the Atithor considers It!t an error of Nlr. IticAurio's, on which much 11 the Letter to Mr. Peet, the "-Ettfly" ob- serve 4 " The error of Mr. Ricardo. and which you in ram- argument adopt, is this : he supposes th e variatious of exchange between tivo countries to arise trona the state of their resrctive curren• cies ; whereas, the cause of sorb variations arise, fr ,, m the , XCe , S of payments to be matte at any partlenktr by the one country to the other. Arr en "each, country .has precisely the gitantiry o f mo n ey which it ought to have (says Mr. 11M cario). the excl'artge w ill he at oar ' This et-tor arici-s -fr o nt the stifo,osi•itut. that when the ex.- lint.vourahle to a country, the bal:ture -is to h, r stored by that coatary parting with a cer tain nottion Of its cerretiev lOr that purpose. But s „ rr l N ll a o b v io u s %%ay of test°, int! the balance is imy an export of evrwilodirics ; and the export of army other commodities for wl.ich a sale can be obtained will ,itt..`‘ en the purpose, i n v ea d o f sit export of pre , of the gohl or silver cm- (secy. The atlsetse exchanee is a pretninnt on export . I t is a oremilon on the es port of every other article of hiet eltandize as wa'4l as of gold and'silver ; and the halanee may he restored by t h e export of those ar+it Its, without any export of gold or silver"; and withomtt any alteration in. the amount,: of cur rency either countly. It is•.unpleasant to be obliaed to repeat, what has been said a thonsaml times over, and what seems to be so obvious .as to admit of no d Gnome of opinion, that the coin of one country when cavorted. to another is a mere 816( le of mercharolize. - and, like any other article of nit telmandize, is roily exported wheo the mer chant it more his interest to do so than to export any other article. Fro l in this. however, it follows, that, when the exchange is unfavourable to a country, the merchant considers in what ex port have most profit, and if the country bad no gold or silver-to export, he would e.xport other Commodi'ies ; anti the exchange might be thus brought to par, without exporting a pal tick, of either of she precious metals. The adverse ex change operates in two ways towards restoring the par. It acts as a tax on imports, And. as a biairoy-on exports ; anti thus it promotes that •n•teeincnt a hick tends to cure the disease. The remedy for. an adverse exchange is to import leis end export more ; and that may surely be done without any alteration of the amount 'of currency In either country. It is title that the precious me tals may morn speedily restore the balance than s ober comthodities. But is it clear, that it is for the advauta::.'e of a country to have the b a l an ce restored in this way ? Is it not probable, tharit would he more advantageous to have that Par of feeler! by the export of manufactures, encouraging t h ere by the industry and talents of the peiode, than by the dealers in-gold and silver putting t h e coin of the country into the crucible ? Anti is the great boon- which you wish to eoiVer upon the people of England, and for the withholding of which you arraign our Mioisters of Finance, merely this, that our currency shall be imme diately constituted in shed a manner that the . par of exchange shall be restored, not by an • export .of (lie mantaacturel of Birmingham!), nor of Manchester, nor of Leeds, RSV. but by the extravagant and wasteful mode of an int- Inense coinage, at an immense expellee, to be immediately after melted down by. the Jews, end transported out ' of the country ? is this what will make our woollens, or our hard ware,' or our potteries flourish, and give -ac tlvity to the hammer and time shuttle ? While the exchange is adverse, it operates as a bounty on the _export of all our manufactures ; and sti- Initiates, by additional profits, the industry and skill of the nation s aod though this adverse ex• Change has its disad4ntages, yet, as it has its Lenefits also, let us not throw the latter away; let us pause N—let us endeavour to correct. it in the way most beneficial to our people s arid not by a proud, a prodigal specolatiao for a lt e rin g , at an Untoward moment, that curreitcy which has an swered all our purposes for the last three and t :venty years—and stupendous purposes they were—Which in their operation have .been the amazement of all the world, and will transmit the English name .with honour and splendour to the latest times. • • How completely an adverse exchange may, be corrected without any export of the precious hietals is exemplified in the' case of Ireland, to I have already adverted. When the Com mittee of the House of Commons reported upon that sobject, the exchange between England and Ireland liar! been for some years very untavour• able to the latter, often 10 0r.12 per cent. against Ireland. But, though Ireland had no gold to ex port, and had no silver to export, except a debased coin, none of which left that country ; yet, with out any change being made in time nature or amnion of its currency, the exchange, by other exports, was restored to par, and so has generally continued ever since. And, in like manner, •if this country is suffered to go on, for a little as i s now doing, the industry and ingenuity of its inhabitants, exerted upon its va rioas maonfactures, will certainly cause, with great benefit to the people, an increase of export, which will restore the • balance. In short, the adverse . exchange is to be considered 'as a debt which've owe to foreign countries ; mot the ones .tiora.is,hosv can than debt best be paid ? Is it by the lazy anti expensive process of issuing the pre- - cious metals from the Nilo - , it; the shape of coin, to be immediately Melted and _carried off to other countries.? or is it by allowing that debt, which oferates as a bounty on our manufactures, to continue - for some time, animating and stimulat , itrz our people to indoStrious exertion, until their. aaboor and their capacity shall have extinguished it ? fl-is,perimaps true, that this great nation may be able,t . o accomphsh n the object by either iroic; 11 7 may have our option E .. but it is 840 true, that the One mode is salutary, and toe other pernici- tinie r . • . ous ;—so pernicious, that the titsciii,ls aitkl i would attend such a measure at present are pier-, bably mach greater than any man can foresee. it ivould be,or best, jornping ittio an unknowo golf, which no one stow can fathom. For to what IA degree of diminution the Bank would in such a case be .obliged to contract its issues; what tailnrus would he thereby -produced in this mer cantile country ; what stagnation to trade; what -abandonmelit of maniitaettires, and, consequent ly, what multitudes would he then thrown out of. employment ; what d.stractiou, and disturbance would ensue ; what depression of our fonds ; what oifficohy in collecting the revenues which suppol I 'them 5 , no mall can presume to e sti ma t e or prediet. These evils night be greater or m i g ht h e l e ss than will be ptesicmed. But, sure ly, it is a S-iiiiiClC-Ilt Obit.CtiOlt to the attempt, that we do not know the extent,of its calamitousicon segnlences. We have no experience.to" guide us; we have got kw an imi•xampled state, without shy parallul 'in the hist - Orr of nations. All the finantial operations of the world heretofore are triVolons, compated with .what 'England has in. thi!. , way accomplished in the last twenty years. Having, therefore, nothing in the past to dire . er its, we -should proceed with the greatest entitle!). I Even it the tact were true, which I deny, that ,iar paper-currency is at this moment depreciat ed. tie depreciation at the inmost is only 3 . or "4" per cent.; and, if (hat be an evil, it is but a small evil ; to 'remove - which, it seems extraordi nary that any one should'venture to recommend the risk of such unknown. and, stupendous cala mities, "that the exchanges are Imfavoitrable to us is tine, and a great issue of coin might ren der them otherwiSe. But admitting: this •uula vourable course of exchange to be an evil ;"it, is also a small evil, compared with the many. and menacing -evils which would ens/re from a forced return now to cash payments. The unfavourable exchange is an evil Which, comparatively, few_ people iii this countty would know any thing of, it they ware not told of it - , and the inconvenience of which still fewer , 1 , el. Whereas,•the Colic:lli ' ties ieltieh would follow, a retinal to cash pay ments, at this moment, would come -.home to every man's door, and to every man's pillOw, and would, more or less, disturb every man's fepose. • - . " Some then ask, if this is not the time to re store our currency to its former, principles, wheu will the ti-toe cowe ? And they accuse the Go vernment of a breach of faith for not doing so in , hr time originally. prescribed alter the return of peace. But what Statesman corrlA,with certainty, foresee how soon after the return of a peace, which - followed a war so 'general, so .desolating", and of such gigantic exertions, the nations Of the world would be snalefently recovered and re-esta blished to justify a recurrence to the old order of. things. All that the greatest Statesman cats 'tUo in such a case, and all that ought to be expected from him, is to make a probable coojvcture, and to be. afterwards governed by events. The un favourable exchaoges at present have beet, partly., and perhaps principally, occasioned by' l great im prirtatioos of corn, - the Lest& of Unproductive harvests, which no . Mirriver could (rave foreseen or prevented. The unfavourable excharrigi-s have also been, partly occasioned by the"inipoverisbed state of the Continent, not yet able, after a war of such devastation, to pay for the manufactures of this country, by Which the productiveness of our experts has been dilitinished. But ibis is a disease which a little time will remedy. Otir ex ports, -also, to the East Indies have ,been, parti enlatly unproduetix.e. The funding system, too begun and carried on in,, different countries on the Continent, 'has made essential alterations in. the Nancy transactions of Enrope, - Many, also of the foreign lOans have been largely subscribed to from England, and the remitt,nces for this pur , pose have Zontriituted to render the exchange un-, 1 favourable. All these causes ovrating,- which no Minister could have anticipatvd, have,,pro (limed this adverse state of the exchanges, and must, in the judgment of every reasonable mail, not only exonerate our ,Government from any charge of breach of faith, for not having re tinned to cash payments sooner, but must satisfy us of the wisdom of 'tinge Statesmen who have proceeded so cautiously and so deliberately ; and' wlioy instead of endeavOuring• to seize the first moment o f a favourable appearance, have, with prudence, warched over events, and postponed making any alteration until they should see the exchanges permanently settled in our favaur.— For where so mucp is to be risked, and so little to he gained, it is not on the first propitious' syt»ptom that such an alteration should be nrade, but upon a continued, established, and confirmed renovation of the order of things, not_ only at home but abroad." ' . . [To be confirmed.] • LOUD DORMER. -The obsequies of Lord Doll matt were celebrated on the 4th insiaot, in the Church of St. Rod,. His Lordship had com pleted his sixtieth year. lie died of a stroke of apoplexy and .paralysis. with both of which be was conjoinrly attacked about a mouth ago. He had the good fortune to remain perfectly sensible to the last moment, of which he availed himself to solicit every spiritual Comfort, which he re ceived with an eddying piety. lie had led an uniform Christian life. Mild and amiable In dispo sition, affable, and polished by education, disin terested in his affairs, always noble in his con duct ; of those who approached him, the grearet nun►her had treason to praise hint, none to com plain of him. His death is a great loss to his friends, by whom he was honoured andesteem ed--to hi, !datives, whose heart be, possessed, by his obliging and delicate attentions—and the poor, of Whom he was the coinpassionate father and benefactor. The family of Lord Dolor an, al ways professing. the Catholic religion, lost the greater part .of their privileges in the reign of Charles 11. at that unfortunate era when the Ca tholic Lords, unable to recoucile principles to time new Bill directed against them, renounced their seats in the Upper House, to preserve the integrity of their fait h,--(Poris'Papef.) To-morrow being Easter Sunday, it will he observed as a Collar-day • at St. James's,' anO the Heraltht and Pursuivants will attend Oth their :banncri in the procession, to and from the Chapel. CA L( UTTA PXPERS.' CALCUTTA, NovEmBER 10. Our intelligence from the interior Of India speaks favourably of the gener,,l tiannnillity - of the. country, and the satisfaction of the people at living'under: a Government whose aim as well as whose interest it 'fortunately is to preserve to them the blessings of abundance, ircw;t y, anti . peace. There " a re found here and there,. however, refrac tory brigands, who draw around themselves a set of desperate adventurers, and seek, in resistance to established antborities, and in plunder of the peaceable and industrious part of the population, that gain which neither their virtpes nor their ta• lents would procure for them in a regular and well ordered community. The Beitool .Valley and the whole of the Nag pore C4iuntry have been principally the, scene of these late revolts, and we have given the details of the operation, against the revolters there, as they, hase occurred from time to time. The most stubborn and 'courageous...of the enemies with whom our troops have had tocontend, were Arabs and cioonds,and among the / slain "the first hate . been always the most numerons, as being con l!stantly found ip the hottest of the fight. Lieutenant Cmikshank, has particularly dis 7 tingitisited himself in these contests, and Liente pane Lane, of the 7th Cavalry, has been so closely engaged - as- to have had two horses shot under ',hint within the last two months, besid,es being womided him.. , elf. By / their small detachment; a march of 4.0 miles was made, and two battles fonght within the'space of 2& hours, and the 'troops bore all with firmness and cheerfulness; though the roads over which they marched were 'musically bad, and they tasted no food till the close of their gAllantlabours. These roads in the territory of Nagpoie are so bad, that it is said only six camels survived out of 46 that were em ployed for a very,limited period near the bank of Nurbwida. Major Bowen, of the Madras army, has also distinguished himself in several gallant actions with these Goands and Arabs, and par sleuths ly in an affair against Boordace, where the rising of the -stream in some nullalts having cut off his expected reinforeenients, he bras elv dashed On with only 100 infantry, and drove five times that number . , out of the town before him, 300 of whom were' afterwards cut np by the cavalry. Major Wilson has also earned his portion of military reputation, by the taking of Pawnee, an other strong post, seated on the banks of a riser, about 25 miles to the S.E of Nagpore. The de tails,of this gallant storm are such as reflect the highest credit on the courage and skill of those engaged. The Mogul horse, who are attached_ to Major Wilson's party, behaved also %, ill ) g re a t bravery, and evinced, what the conduct of Indian troops has always so conspicortus.!Y shewn, that good leaders and brave chieftains are almost all that are wanting to make disciplined soldiers and courageous meo• The last letters we have from Hosseinabad, are of the date of the lOth of October, and they in form us that Sheikh Dulloo, a celebrated Pintlaree Chief, has matte his aßaearance in the Beitool Valley with a train of followers, and that Apjiali Sahib himself was about to make a movement to the east ward. The Madras troops, adds our correspondent, arc taking tort atter.;, , rt in the neighbourhood Of Nagpore ; and the lix- ah's resources, he adds, are so completely exhausted, that he may soon he expected to effect an escape.from his own troops, and throw himself on the mercy of the meaty whom he has so fruitlessly Vaved. CAIS;UTT4, OcT. TO. Hussi3toAßAD.—We have been favoured with a private lettt r from this quarter, which states, that thou`gh the country is in a state of qmitt at pre sent, the revolting disposition of the people is likely to furnish sufficient occupation for the troop, , iu the neighbourhood. Appall .Sahib is said to be collecting his forces in all directions, and several parties of his adherents have secured themselves in forts. and strong holds at bur a short distance froth Nakpore. A detachment of troops had gone out against these, but accounts of the success of their ope , nations.had not reached. Major Bowen, of the Madras Establishment, had killed about three hundred of the Goands and Arabs who were in the Beitool Valley, and still, further skirmishes were rkely to take place before permanent tran quillity be restored. PoobtAti.—By recent letters from this place, we learn that his Majesty's 67th' Regiment of Foot were on their march from Bombay towards Seroor, which adds confirmation to,what we beforestated, regarding the_st.are of the late Peishwa's territory., and the necessity that existtd for additional fore; being sent into that quarter. NAVAL APPoINTMUNTS.--Captains Sir J. A. Gordon, to the Active Cliarks Farwell,- to the Alert ; Edward Colman, to tl►e Beaver; Moi).. lave, to tlie Cadtnns ; W. N. Glaiscock, to the Carnation - ; Theobohl Jone , , to the Cherokee; H. T. B. Cidlivr,.lo the Falmonth ; Job Han mer, to the Heron ; Pettman, to the Helicon ; Henry Lecke, to the Myrmidon ; Chaptmen, to the Nantilu% ; Charles Randolph, to the Pan:. flora ; the Hon. Charles Paget, to the Prince Ilegeat yacht ; Hendry, to the Rosario; W. M. Popham, to the Sybille ; the Hon. J. Gor don to.ti,e Tamar. DISORDERLY AssEmitt.Y.--Yesterday bring G , , ,m1 Finlay, a •cence of a most disgraceful nature took place on. N.,enningion-Common : all the had cha racters-of the metropolis appeared to be drawn as to a common centre, and presented a :.•cene which baffles all description. ; Jack-ass racing', gambling, throwing with sticks a.t ,boxes, eat, inintiug, dog-fighting, and throwing dead dogs and cats at each other, formed the amusements' of that saclN day. The whole appeared - :o he arranged for the convenience of pick-pockt.ts, ff numet oils gang of whom were ona he ground, and • were pard`cula , ly successful in their depredations. ‘Ve learn, ,by the way of Ilarnburgh,, that the Swedish Palace of .lohamistlial was set on fire, ,by accident, about the:2l , 4 but that the greater part of . the tiirnit ore and pictures were saved from tie flames; _nor does it appear that any lives Were lost on this occw,,ion. TIIE Alt - .‘l Y. GENERAL ORDER. Horse-Guards, sth April, 18/9i It has been represented, to his Royal flightiest. the Prince Regent that Lieutentint 'I hos. Hasker. • and Elisio; Edwaid Ring, who have been re' cently placed on the half-pay from the 55th Re; giment, have grossly and challenge d Lieutenant-Colonel Frederick, commanding that Regiment, upon time grounds of his •conduct t°' wards them in his capacity of Commanding Officer, while they were on full pay under his or ders. " As it would he highly injurious to the disci' One of the service to permit the notion to pass with impunity i that when an Oificer is placed upon half-pay, he shall feel at liberty to set aside all 4 ' 6 restraints Of decorum and subordination, by il l • dolging feelings of personal resentment t O WOOP his former Commanding Officer, his Royal nig h " tress the Prince Regent, in the name 4.1W11. on the behalf' of his Majesty, has been pleased to cow' main', that' his displeasure upon this flagrant BC' of misconduct, shall he marked by cra,ing 11'6 !mines of ,Lieutenant Tlyomas Masker and Ensig lt Edward Ring from time list of the Army." " The Prince Regenr, in the name and on the behalf of his Majesty, has also been pleased II complaud,That'as Lieutenant Wll).Lambrec lot . on the half:pay of -the 3d Garrison Batrali (4). who was the hearer of theclillenge from W l' : sign Ping to' Licutenenr 7 tolonel Frederick , al", pews to have been equally culpable, his flail shall, in like manner, he erased from the Nit ° the Army." The Commander-in-Chief has received lb 6 Prince Regent's commands to promulgate ( 0 t r army the above declamation of his Royal 11 ' 4 , (1- nessrs pleasure on time Ti subject of Lieutenant “ P i mas Has.ker, and &sign &heard Ring, en d Lieutenant Richard William Lamlirecht, in Or de that Officers on ball. pay Allay be- sensible, ileac whenever they so far tot get their duty as to gi v ` l vent to feelings of personal animosity and reseut: merit against their former Comma'ndiug Officer , ()1 , 4 the grounds of his condort towards them ill " official capacity duri‘ig the time they wer e/servb . " l f under his comman , l„ they will Pot fail to (116. ,: upon themselves the Roy a l diSpleasure to ! , ` a t i ` e 'extent as is hereby expressed against uOl individuals to whom this order especially *The Commander: ire-Chiel has it further it) c 011 ' ; mand to express his Royal flightless the Prio c t. Regent's approbation of the line of Conti Cl sd"P ed on this occasion by Lieutenant-Colonel rrc ii , derick, and to declare, that any Wicer, %Ow 5" prove so unmindful of what is due to his stiiii ° : and so regardless of military discipline, as to cept a challenge given on grounds sitnilar to tit ft nn whivb these officers presumed to dial' , Lig e the , former Commander, will incur his Rt►yam iI tress the !'mince Regent's hi g h es t di,pleas'orc aoup , , •By-ctinimand of his Royal Highness time tuauder-iu-Chief', • HARRY CALVERT, AiljutatitGerieral. EXTRAORDINARY DISAPPEARANPO's On Saturday, the 27th of March, M. 1- 0 ", i . 4 Outton, a dealer ill thread, helon;;ing to "'— Hocks el.'s market it( Lyons, his wife and dilog il r, ter, were seen by tneit neighbours at nine o'ci oc "' •in the evening. They had also told their,cler k l wait on them the day follow iog . He. came , ta l) ' rapped a i t the door, but rrceiving 411S1S:er cc"' chided that the family had gone to the country.' On Monday lie Went again,rapped and cllled, MI 5 ' 0 .. vain. Alarmed at the ciicums:ance a nd feari' l 't some accidrnt had happened, he hastened t i j o . , Police Magistrate, who came inim.,diate!y ' 0 1 : 0 house, accompanied by the friends and tre!loota, of Sieur Gluon, when the rooms were sei rcb „ c d; but neither at the three persons could be 1:1)"."0„,„ The articles which remained on the t able, ed that they had supped, and, from the aPr e ha a ance of the beds, it. was evident that m iteY ,i e tt roiled to rest ; yet neither of the three `ll)°,:d. v,. M , leaving the house during the !Night of 53"1"i,tt,", or on Sunday morning. On • o nday e ven the Magistrate placed the Seal of Office property of M. Dutton, the request. of b ' s ,. l e .l lat ions. No symptoms of disorder were obsiry in the room ; the till was undisturbed ; watchcs_and trinkets were in their regulLi r I) ' a- y •oi and there was a considerable quantity of ;J o the shop and in the rooms: , SondaY , fl ue at 11 o'clock in the morning, the body of `" : ": 3 0 . ‘ , ► ciutton was discovered in the Rhone, al where she i.vas entangled hr the nets of a fish" lb t ' d who drew tier from the river.-She was dress' "c 1 r - ,„ clothes which she wore on Saturday. On it ' sP ,, e l o, ing the ‘ body, which was openediby the Sor 4 e No no trace of violence could be discover ed " . 1 ,,t means have been dvlised fur ascertaining fatality these individuals have been toru f r°111“ 0,. citcty. Which contini!v.s. regret their - los -a - c f it a r.imple accident ? Was it the effect of 1/ e 1 4 0 1( of despair, or of marloess .Could it be t6e i : 9 e seg" a frightful crime ? Time, and the ac" ve rne ans • lions of the Police, - can alone procure 3 0 r . ( p a ril Of elucidating this extraordinary Paper) itil a EXTRAOUnIyARY !)FARE. —In tI C ettbil -f ° s )f brothtts Jot•INIA (IWO rich 6reekS at MO C va',":‘,• there is at pu.eset)t-a Zearl of exltaor (iiOarY It is perfecily n.Yttliti, and not yet' pierce d ' weighs 27-! ; eHrhis, ' ;I.lr. Fist' En, 'Vi ce-Pres,le° of the Afettiro-(2hittirvical ,Ir4idclily Nt Aldse ° ; '' t h i l t:tt i) ( 1 :1 1)1 t ll':ils'erd' in tttnk:tt te l: is i' tdtie ' ;e[tr h i. l4-'4';"gt: descrir ~,.~,_,... ~.... 0... _ -101. (H the ;31st tat. at IVarfietti ltTllS Iloose, the Lacly of the " 11°. _ Beratri?.!:, a a data:hter. • ( Frid'iv, the 2d ift,t., at hi. house. Brunthl, the Lady of Thomas Mane, Esq, of a d.,a.:hta. • • Di ED. Yesterday, Mr..Tohn Threeri n .:t.tt, or Thr, c ro wo.soare , s , Aicitor, so. of Robert Sprni . ,..;ett, Esq. of Goilburst, 11r' aged 3) %c.o.s. On Vt',t,lnesdav 1: 151, Mr. Thomas acts of St ' Jame6's•street s: , ed . . .. --------,—.---------_ _. . f.,ONDON: Print(ll by 3. B. cArtsTA Fro:. „ t N„.. , 2: ;., ( o cat .onomol-orvet, Oncen-square; loft publish,,,i lyv 11 z ; r \ _,' SCION'S, of :•:o. 7, South Ntolyon-sliort. at Tin: -,'''' niiicv, No. Il^. fltrand; 'when; 8,11,0i,,,1,cati, (1t 't.r. Lel;uts, &c. I,ust-;:aid) must b a Ithtsscti.