The Sun. — London, England, 1856-02-29 00:00:00

THE SUN S LONDON, FRIDAY EVENING, FEBRUARY 29, 1856. , e L 514,11, • TT) V, ~ ; s:.s~-''`t~':~ ~+rte'. rediscussion of the whole question in Parliament cannot be arranged too soon, it was deliberately shelved, and the Times has hurled its ponderous jokes at the head of the independent member who ventured to act on its own suggestion. It is impossible to deny that the subject was not introduced under favourable auspices. Mr. MUNTZ does not belong to any of the great parties into which the House is divided. Many who might approve of the inquiry would not give a triumph to one with whom they were not in any degree connected in political affairs. Besides, he took particular pains to repudiate the notion that he was " the advocate of an inconvertible paper circulation." He did not come forward as the advocate of the anti-bullionist party, which, although not fairly represented in the House of Commons, has still considerable weight with the community. He had no plan to suggest, no ame lioration to offer for consideration. His object was merely to inquire —nothing more. We can not, therefore, feel greatly surprised at the apathy respecting a matter that ought to have been intro duced by Mr. DISRAELI or Mr. JAMES WILSON. The division cannot, therefore, be taken as a defeat. The Chancellor of the Exchequer has recorded an admission that will impose a heavy responsibility on Government, if they main tain an unbroken silence on the point. As we have repeatedly pointed out, the Act has virtually expired. It only requires the stipulated notice, and the repayment of the Bank loan to introduce a system more bene ficial to the nation, and more especially to the commercial classes, who have suffered so severely from the fluctuations in the value of money, that have been the inevitable results of the present most injudicious enactments. An impartial in quiry is all that is required, and if the voice of public opinion is heard in its favour, that inquiry I cannot be withheld, or even long postponed. So the nation is to be favoured with another Royal visit. It is announced that his Majesty the King of the BELGIANS intends to leave Brussels the week after next, in order to spend a few days, net exceeding six, with her MAJESTY and Prince ALBERT. Much mischief, however, may be effected within that time, under existing circum stances. The complimentary visitations of the Ulysses of the House of COBURG have been always so timed as to turn the scale in favour of " Germanism." They are, and have been full of ominous import to England and . the English. However great the debt of gratitude which King LEOPOLD owes to France and England, it is cer tain that be has unreservedly cast his lot with Austria, more especially since the matrimonial alliance between his son and one of the Imperial family. To his sinister influence may in no ordinary degree be a tt r ib u t e d many of the evils that have been so deeply deplored by the British people, and which most probably occasioned and protracted the War. It is not necessary to inquire into the objects which he desires to promote. They can scarcely be ac ceptable to those of whom he has been the pen sioner of forty years' standing, and to whom he is indebted for his position as a parvenu monarch. We need not yet ask ad to the probability of a kingdom of Thuringia being created out of the materials existing at the present crisis, nor the possibility of such a reward being considered.rea .sonable for those who materially advance the Austrian policy, and turn the scale in favour of the neutral game. It is sufficient to know that the Conferences at Paris are now going on—that the most important questions will be under discussion at the time selected for the threatened visit, and that the instructions forwarded to the British Plenipotentiaries may prove of vital importance to the welfare and prosperity of the nation. In any case we have everything to fear, and nothing to hope from the untoward ev , nt. We can only cell on the Parliament and People of the country to he doubly vigilant, and by their vigorous and energetic demonstrations to neutralise, so far as practicable, the threatened danger —to take care that the evils of the Austro-Coburg Alliance be reduced to the minimum' amount. We must be prepared for insidious suggestions—be it the duty of the popular representatives to provide an ade quate antidote that may avert the most serious part of the threatened mischief. The protectionists in the great Sabbath ques tion are composed of several curiously inconsistent classes, but no class amongst them is so singularly and suicidally inconsistent as the PROTESTANT DISSENTERS ; a few victories like that of this day last week must annihilate all their power as the supporters of an unquestionably noble principle— that of no State protection for religion. A prin ciple to which even those who oppose it cannot deny the merit of simplicity, and of unfaltering reliance on the Divine power of religion. All our respect for Dissenters, as a great public party, rests upon their adherence to the fundamental principle of their nonconformity. If the Leaguers had asked for protection to the hundredth part of a farthing fer English trade, or for any govern mental legislation on behalf of the branch of commerce to which the majority of them were attached, we should have exposed them unmer cifully, and we must think our Dissenting friends cut but a sorry figure on the evening alluded to, as the coadjutors of the religions protectionists. The vast majority of that evening was com posed, first, of the practically inconsistent,--the members who voted to retain to the full the pre sent Government protection for the Sabbath, but who do in every conceivable form the very things they vote against. Forbidding men either to work or play on the first day of the week, they do one or both, perhaps, themselves. Morning duty having been done, or done, it may be, like that of Sir BALaAM, by proxy, through the " family and wife," what festivity or entertain ment afforded by their country seats, their grounds or mansions, do these gentlemen deny themselves ? The poor man can have ,his diversion of the same kind only through public institutions. He needs recreation and change as much as Sir ROBERT and Sir JOHN, but because he has no means of obtaining it individually, those who have the latter forbid him to provide it on the joint-stock system. The men of the town man sion and the villa legislate for the men of the garret and the cellar, and legislate in forgetful ness of their own Sunday dinners, patties, and entertainments. Then there were the theologically inconsistent —the men who abhor Jews, and would think their introduction to Parliament the ruin of Christianity. Yet these gentlemen argue as glibly from Jewish observances as if it were universally acknowledged that the law of MOSES was the law of Christianity. Without the vestige of an argu ment from New Testament authority they appeal to the Old as if the New had never come. It were as easy to prove the obligation of circum cision as of Sabbatism from the Old Testament ; and the New Testament as explicitly denounces Sabbaths as alien to Christianity as it does the circumcision of the Gentiles. The only don• sistent theologians on this subject are a sect, we believe, extinct in England, but still existing in the United Statei t . called SeveMl e . j .day Baptists, who, with the Jewish notions of abstinence from labour on the Sabbath, observe also the same day of the week with the Jews. Whatever we may think of their opinions we can: not withhold from them the praise of that excel lence which E❑lishmen especially prize —consis tency. The politically inconsistent vote, of course, with their theological brethren, and enact by penalties that we shall borrow a Sabbath from the Jew, but refuse him the paltry, recompence of a seat or two in the House of Commons. One party was quite consistent in its votes— the High-Church party. Believing in the power of the Church to create festival and fast days, to ordain rites and ceremonies, and to seek the co operation of the State in obtaining compliance with Church institutions, this considerable party may so far be regarded as consistent enough. In their view the "secular arm" is but the secretary to register and enforce their decrees. The Dis senters, on the other hand, repudiate all resort to State support ; they assert the self-sufficiency of Religion, and its perfect independence of Senates and Rulers. They maintain, like the Free-tradets, that protection but enfeebles the protected. Not only do they with all public speakers denounce persecution, but they represent protection of a sect or doctrine as a persecution to all of dif ferent views, and really injurious to the favoured party. How is it, then, that petitions from Dissenters deluged the house this day week ? Did they re flect on the only principle which could justify them ?—justify, we mean invoking, as most of them did, the protection of the State for the re ligious rest of the Sunday. Had the petitions only prayed that a day, which had been preserved hitherto as a holiday to our over -worked popu lace, might be preserved so still, we could have understood it. It would have been consistent to allege that for generations it had been a day of all practicable cessation from labour, and that this was not a privilege to be lightly tampered with. This, however, was not the ground taken by the vast insjority of petitioners and Honour-. able Members. The Sunday they said was sacred to GOD and religion—the Bible forbade men to work on the Seventh day of the week— therefore they demanded that the State should compel nien to obey the Bible, and to abstain from labour on religious, not on secular grounds; This concedes the whole question of a State Church. Dissenters will henceforth, by their own act, be out of court on that question. Lord STANLEY understood the Voluntary principle far better than they did, and his defence of it, though not in so many words, was a masterpiece of independent and honest reasoning. If religion can be upheld only by our compelling others to act on the views which we think right, let it fail. Christianity knows nothing of compulsion, either to do, or to abstain from doing. A compulsory Church rate is as defensible in principle as a compulsory abstinence from work or amusement, on, religious grounds. It is the latter amusement which entraps Dissenting Sabbatarians. The ab stinence from work can be defended on secular grounds , —abstincnce from amusements cannot. Hence in their zeal to carry out the Puritan view on the latter point they surrender the pecu liar characteristic of modern dissent, and fall back on the State Church views of their Puritan ancestors. Whatever may be the duty of a free and powerful nation with regard to nationalities, races, classes, or individuals labouring under the brutal oppression and savagery of foreign despots —whether it should interfere on their behalf at all (and on this head there can be little question), or should confine that interference to diplomatic appeal, one thing will not admit of a doubt, viz., that it is under the most imperative obligation in treating for peace to provide not only for the safety of its Allies, but also of the inhabitants of the districts it has invaded and means to evacuate, who, weary of the tyranny of their taskmasters, and confiding in its power, have voluntarily come in and lent their best aid to the maintenance and progress of its Armies. This obligation, probably, never pressed more urgently on an English Government than it does on that of Lord PAM ZRSTON at the present time in relation to the inhabi tants of the Tauric Chersonese, for never were claims to protection of such a nature more valid or less susceptible of depreciation. The case of the poor Tartars is not that of Russian uhjects who have incurred the charge of treason to their legitimate ruler, by rendering assistance to his foes, though hopeless oppression destroys all bonds of allegiance, but of the inhabitants, the industrious inhabitants, ,of a recently-con quered district, who have lent such assistance, and that -at the cost of one-half of their numbers, because they were wearied of the tyranny of a ruler to whom they never rendered other than a reluctant allegiance, and from whose all-compre hensive revenge, bounded neither by honour nor pity, they can only anticipate the severest punish, ment if again brought under his dominion. To re sign these poor creatures to the tender mercies of Russia, of that villanous power whose atrocities in Poland have been signalised by more than the brutality, and none of the magnanimity of the savage, would be to stereotype us for infamy to all posterity, and would expose the Ministry to uni versal execration. We rely, therefore, on whatever steps necessary for the safety and well-being of these poor T rtars, under present circumstances, being taken by Government, even should these involve their transportation to Anatolia, to which - we should fancy they would have no objection ; and where, under the sway of the SULTAN, they may yet further develop° that activity,. industry, and intelligence; 'before which the Russ has been put to shame, and by which the resources of Asiatic Turkey may 1 e m vie to contribute to the stability of the Turkish empire. Such a step would insure their safety, respecting which they are now in great dread, .and read their oppressor a lesson he might be disposed to profit by to the advautage of other of his victims. Ma. ROEBUCK'S MOTIOZi.—We can state, in positive terms, that Government has done everything in its power, through the medium of its most devoted friends to prevail on Mr. Roebuck to withdraw his motion, which stands for this evening. We can further state that Ministers are in great alarm as to the result—•being fully aware that, even should they have an ample nu• merical majority, the debate will be eminently damaging to them.—DSo.•ning Advertiser. The Right Hon. B. Disraeli and Mrs. Disraeli enter , tained at dinner yesterday, at their residence ; Grosvenor gate, his Excellency Count Colloredo, the Marquis of Brearlaibane, the Marquis and Marchioness of Bland ford, Lord and Lady Harry Vane, Mr. Thomas Baring, the Countess of Glengall and Lady Mary Butler, the Right Hon. Cecil Forester, the Dowager Lady Cowley, Lord Chelsea, Count Vitzthiam, Lord and Lady William Powlett, and the Marquis of Bath. We are happy, says the Brighton Gazette, to announce the arrival of Lord Adolphus Fitzclarence at the Bed ford Hotel ; and we trust that the Brighton air may have the effect of completely re•establiehing his lord ship's health. ST. PHILIP'S CHAPEL, REGENT -STREET.—A. testimo nial of esteem and respect, amounting to 480/. 18s., 'bag, we are requested to state, been presented to the Rev. G. D. Hill, late assistant minister at this chapel, and received by him with expressions of heartfelt gratitude for the generous token of regard. GBEECE.—Spiro Mylios, who was one of the ministers of fang Otho during the breach of neutrality by Greece, and who was placed on his trial for aiding the insurrec tion in Turkey with the money of the state, has been &quitted, to the groat joy of the court of Athens. -.<-:_. C He hoped in conclusion that the house would not consent ! furs of balances and credits. The debts of one banker were to the motion of the hon. member for Birmingham, nor do , ba l anced by those of another. All those transactions were anything to lessen the position of the country abroad. ' I based upon gold ; therefore every one must naturally feel Mr. WILKINSON could not entertain any hope that, if i anxious when the amount of bullion in the bank was gra- Sir R. Peel's act were repealed to-morrow, panics would dually decreasing. It was an artificial system, which pro not occur. duced periodical revolsions and disarrangements, unless the Mr. H. BAILLIE believed it was the intention of Sir R. necessary amount of gold were replaced by importations Peel that, at the end of ten years from the passing of his from Australia and California. Nothing could be more ine act, an inquiry should take place into the operation of portant than the certainty of having a fixed medium of that act, and if it was preyed to be beneficial that restric- change. 20,000,0001. were considered sufficient to liquidate tion should be carried still further, and that he intended the bill and trade transactions of the country. It was be to place all private banks upon a similar footing to that of cause the bank might be forced to reduce the amount of the Bank of England, and to compel them to withdraw notes below 20,00e,0901. that panics ensued. The supply of their paper circulation. With regard to the motion before money was usually sufficient, but unfortunately it was cut the house, he agreed with the Government so far that he short by the present system. He wished that the public thought this was no t a favourable time to enter upon any should always have that amount of the medium of ex attempt of this kind, but he did think that a time might change which was necessary for the commercial transae came hereafter when it would be advisable to submit the tions of this country. He did not wish to curtail the legi subject to the consideration of a select committee. (Hear.) titnate profits of the bank, bit he was of opinion that a One cause which operated injuriconly now on the market portion of its capital might be profitably investedin fore ign _ was that within the last three or four years our trade with securities. He did not use capital in the sense of gold. The India was so uufavourable that we h a d t o s e n d 7,000,009/, right hon. gentleman (Sir C. W oo d) belougen to that sterling to India in the precious metals. If India wa s to school which held that capital meant gold— supply us with great quantities of cotton, as some hon. Sir C. WOOD—I never said so. gentlemen expected, it was actually impossible that we Mr. CAYLE Y —The right hon. gentleman had repeatedly could pay for it, for the people of India would not take our argued to that effect. manufactures—they did not want them. (Hear.) Sir C. WOOD—Never. Mr. GLYN said though he conld net vote for the motion Mr. CAYLEY—It was quite clear, according to the bul of the hon. member for Birmingham, he confessed the sub- lion theory, that if all the gold were taken away from the ject was worthy the consideration of the house. (Hear.) country, there would be no capital left ; but any man of The panics referred to in the course of the debate were common sense must know that, if all the gold were taken created, not by fears of the convertibility of the bank note, away, much capital would still remain behind. He only they were caused by that which was common to all notes, I wished that, in the commerce of this country, the counters the knowledge on the part of the people of property that I used should be of exactly equal amount. there was a fixed amount beyond which no advances could Mr. L. HEY WORTH said his belief was that panics ins. (Hear.) The panic iu 1847 was cured by the letter had their origin in the law of nature and in nothing else. issued by the Government at the proper moment when If the earth produced a superabundance of food, produce . the exchang es had turned, and the proper rate of in- would be cheap, and trade would be stimulated. He be- . * terest was fixed by the Government of the day. The sieved that large discount was the only remedy for over effect was instantaneous ; people had hoarded their notes, production, and that gold had nothing to do with it. but when that letter was issued they produced them, The CHANCELLOR of the EXCHEQUER said he could and the market was immediately relieved. He could assure the hon. member for the North Riding (Mr. Ceyley) not concur with the honourable gentleman who spoke last that it was not out of any disrespect to the house that he (Mr. H. Baillie), that it was the intention of Sir Robert had abstained from noticing this question at an earlier r ee l to prevent private banks at the end of 10 years period of the evening. The object of the discussion was from being banks of issue, though that, no doubt, whether or not the house should appoint a select committee in time would be the natural consequence. There was to inquire into the subject of the currency, and, before he another question which he wished to put to the house— stated his opinion, he was anxious to hear what might be w hether, in point of f ac t, th e ti me was not come when the op i n i ons of different hon. members, and then he should the pro fit and responsibility of the circulation of this coon- be able to judge from those opinions whether or not they try ought no longer to rest with individuals, but with the were in favour of the appointment of the committee. The Government, and before the Bank Act wart renewed he motion, which had been submitted to the house by the hon. hoped that the Chancellor of the Exchequer would carry member for Birmingham (Mr. Muntz) was, that a select out his intention of appointing a committee upon this sub- committee should be appointed to inquire how far the pre ject. It was not fair to the bank, or to the country at sent monetary system was in accordance with the require large, that the matter should be allowed to remain as it ments of the country. an d t o cons id er if it cou ld b e im was. At th e same ti me h e w i shed to. say one wor d upon I proved or amended. Owing tothe great familiarity with the the conduct of the directors of the bank, about which subject of the currency which the hon. member possessed, there was great misapprehension. Their duties, under he had illustrated the subject by historical deductions, be tho operation of the present act, were most difficult— ginning with William the Conqueror, descending to the (hear, hear)—while, at the same time, the machinery was time of Queen Elizabeth, and thence to the Acts of 1819 most cramped; and he was anxious to offer his meed of and 1844, and he had brought fOrward numerous instances praise for the manner in which they had performed their to establish the facts which he said exi"ed. He (the Chan duties. Their conduct had been most admirable, and they eellor of the Exchequer) did not precisely understand what had steered through their difficulties in a manner which would be the nature of the inquirywhich was proposed that reflected the highest credit upon the bank. (Hear, hear.) a committee, if appointed, should undertake. It had been He trusted that the Chancellor of the Exchequer would said that the committee would have to inquire into the offer some explanation of what he intended to do. means of preventing fluctuations in prices of articles and Mr. NEWDEGATE had been the first to call attention the rate of discount, which was injurious to all classes ex to the necessity of extending the limit of 14,000,0001. to cept the class of bankers. The hon. member for Birtnin ;- 22,000,000.. that being the average of the issue of the Bank ham said the object he had in view was to give happiness, of England for the last 20 years. In 1847 the bullion in the power, and prosperity to the community. That was a most Bank of England was reduced by the necessity of paying for extensive subject of inquiry, and a vary lofty and excellent corn which had been imported to about 8,000,000/. ; those object ; but he would put it to the judgment of the house 8,000,0001. of bullion, tend the 14,000,00 e/. of securities, whether they thought a select committee of 15 gentlemen amounting to 22,000,0001., formed what was commonly would he competent persons to undertake a speculative and termed the "sticking point." The bullion in the Bank of theoretical inquiry of that nature? In a select committee England at the present time was not more than 10,000,0001., philosophers would, no doubt, sit down to examine the and if that should be reduced to 2,000,0001., the Govern. subject calmly, and they would call before them persons , meat would have to interfere again by a letter similar to who had examined into the theory of currency, and they that of 1847, in order to restore confidence to the commercial would have to read all those difficult books which had been world; and what did it, matter whether the act of 1814 was written upon the subject before they could come to a con aetually interfered with by the Governmennor whether they elusion. He must be permitted to think that, if the object gave an assurance that it would be under certain eircum- which the hon. member had in view was this, the house stances ?It was the destruction of confidence in 1847 that would hardly agree to the appointment of such a committee. caused the demand for gold, and the consequent alarm, and Assuming that no such general inquiry as that would be from the moment that relief was at - Ended, the depression undertaken by a committee to be appointed by that house, in the value of property began to cease. The effect of using he came to what really was the principal question for con such a letter as that of 1817 was to place the G o v ernmen t sideration, which was, whether a committee should be ap beyond the law, and to alter the value of every man's pro- pointed to consider the operation of the Bank Act of 1811. party in this country ; and lie would ask whether it was That was the ground upon which the question had been safe, whether it was reasonable, to l eave th e va l ue o f th e ar gue d b y th e h on. mem b er f or W a lli ng f or d (M r. M a li ns ) whole property of the kingdom dependent upon the will of in a speech of great force and great clearness. The hon. the Government? By the operation of the present law, member did not hold out to the house a general speculative the accommodation which the Bank of England afforded inquiry, but he said plainly, " what has been the opera was regulated by the amount of bullion iu its coffers, and in tion of the Act of 1844," and " they wished to have a consequence the directors were obliged to withdraw accom- committee to inquire into that." Now, that was a simple modation by raising the rate of interest to 6or 8 per cent., question. It was one which the house was able to come or to any amount which might be necessary to create a to a conclusion upon. If it were wished to inquire into pressure. The Bauk of England hal therefore, in fact, a corn- the operation o f th e A c t o f 1814, it wo uld be better t o mend over trade, and consequen tl y over thevaLeof property move for a committee to inquire into that, act, instead of throughout the country. He was entirely opposed to the stating a motion in the vague and abstract terms which act of 1844; and be must say that if the hon. member for were implied in the motion before the house. Assuming Birmingham divided he should divide with him, because if that that was the object of this motion, and one upon which the motion were carried it would pledge the house to most hon. members would be inclined to give their votes, nothing more than this—to in q uire whether by any means let the house consider whether it was desirable to inquire they could avoid a recurrence of the circumstances of 1847; into the operations of that act. He would repeat now and he would ask the Covet utnent what would have been what he stated on a former evening, that, in his opinion, the state of credit in this country in 1847 had not the pre- the present moment was not peculiarly well suited to nn sent First Lord of the Admiralty, and the noble lord the dertake an inquiry into the Bank Act of 1844. The cir member for the City of London, had the courage to use cumstances of the country were remarkable, inasmuch as their special authority to interrupt the operation of the they were now in the second year of a war, which had law ? In the present war the credit. of the country was the made great demands upon the reserve bullion iu the Bank mightiest weep ei, it possessed; but if the bullion in the for the purpose s of f ore i gn s hi pmen t . M oreover, the state Bank of En,y,laail were to sink to withi n t wo millions of the in which the finances of the country were now in did not, amount allowed by law, it might be well if the Government render the present moment one of the most fitting for en were to allow an opportunity for considering how far the gaging in an inquiry which would render it necessary for fictitious necessity of 18 t 7 might he avoided. If a panic an investigation to be made into the various operations in were to arise now, similar to that of 1817dand the Govern- which the Rink had been concerned. Therefore, it ap erient were not to interfere, there would be a demand for peered to him that, if it was• proposed that a committee gold, and there would not be enough of it in the country to should be appointed for a general and philosophical inves convert one-third of the notes in circulation. The rules by tigation into the operations of the Act of 1841, which the which the government of the Bank of England was con- words of the motion seemed to imply, the house would not ducted were so arbitrary that the institution lost much of b e inclined to appoint. such a committee. If it was in the public confidence. He would support the motion, and tended to confine the researches of the committee to the he hoped the Government would not resist the inquiry fur mere practical operation of the Bank Act, the present mo whichment did not seem well suited for the inquiry. The hon. the hon. gentl e m an had mov e d. (H ear , h ear .) Sir W. CLAY said that one peculiarity in the p r es en t member for Wallingford (Mr. Malins) seemed to entertain great alarm at the pro s p ec t s o f th e co unt-y. H e th oug ht debate was, that no one hen supporten the appointment of they were threatened With a na ti ona l b an k ru pt c y, an d if the committee on the ground on which the hon. gentleman that were not im m i nen t it was b y no means improbable. the member for Birmingham had moved it. All the hon. members who took part in the debate appeared anxious Mr. MALI NS was understood to dissent. not to disturb the great settlement of 1819, and not to do The CHANCELLORof the EXCEIEQI7EII--Well, such anything which could alter the standard of value as laid a calamity the hon. member thought possible, and be asked down in that act. All the speakers who had risen since whet course the Government proposed to take in the event the mover had confined themselves to the operation of the of the Bank not being able to meet the demands which Act of 1811. It w a s an er ror to suppose that it was pos. might be made upon it. Ho would say that the appoint siblo by :my legislative enactment to maintain money in ment of a committee would, at all events, be a very imper this kingdom on a different level from that which pre- feet remedy to prevent a national bankruptc e n If they vaned in other countries ; for money Was preserved at an were threatened w ith suc h a great national dan g er as that equable rate by th e operations of commerce, and, like all affecting the credit of the Bank of England, it most be ob other commodities, obeyed the l aw o f supply and- devious that at this moment the appointment of a committee mend. (Hear, hear.) Not only had there been a ba,l to take evidence on the subject of the currency would be harvest, and " a drain from th e E a st," but the attended with great inconvenience. When the last corn allied nations engaged in carryin g on th e wen h ee l all rnittee was appointed it , occupied two sessions, anti he been competing in the mon e y market; and, so far from might assume, therefore, that the appointment of a come being surprised at the present rate of interest, ho was mitten now would offer a very imperfect secawity against astonished thatit was not ninth higher. For his own part, the danger which might be apprehended. Nov, what was he was bound to say that he saw no good likely to result the present state of the Bank of England? He would not from the appointment of the committee sought for. At the trouble the house with 'a long statement of figures, but he same time, if the Chancellor of the Exchequer did not op- would remark that on the 23d of February inst., the circu pose it, he (sir W. Clay) would not withhold his vote. Minn of the Bank was 19,251,0001., while the bullion was An HON. MEMBER here moved that the house be 10575,0001 ,or considerably more than one-half the circa counted. lation—a state of things which, in former times, would (There were at the time about 32 members present ; hut, have been considered most prosperous, and he thought the when it became known that the motion had been made, Mr. present state of the Bank was most creditable. There had Cranfurd. Mr, Murrough, and a few other members elis- been many hostile criticisms hosed upon the arbitrary rule tinguished fee: their zeal in secn ' ring for the house the belie- of making 141 millions, by which the circulati o n o f th e fit of debates in whi c h they themeelves t a k e no p ar t, rus h e d notes should be regulated: ; and it was sai d , why , elect into theltouse, aril, liaving, by their presence made up the that sum more than any other? The reason it was requisite number of umushere, immediately returned to selected was because it was believed that the circulation more cenoenial pursuits in the coffee-rooms or library al- would never d escen d l ower th an th a t sum. The goes j ecent ) tion was, whether anybody was rea d y t o propose any thi ng Mr. CAY LEY expressed his surprise that no member hatter? A gentleman interested in the currency had re of the Government had risen to express an opinion on this cently published a pamphlet upon the subject of the Bank subject. H e hail hoped the Chancellor of the Exchequer Act of 1844. That gentleman had been for many years would have delivered his sentiments, as also the First Lord familiar with this question, and though now at a very ad of the Admiralty, who had taken a very active part in the vented age, he had treated the subject with great vigour. committee of 1847 and 1818. The hou. gentleman the Se- He might be taken as a representative of the opposition to cretary for the Treasury might perhaps favour the house the Bank Act of 1844. What was his substitute ? He pro with his opinions on a subject upon which it was believed posed to fix the minimum of hellion in the Bank at not less he del not coincide with his colleagues in the Government. than 12 millions. Now he did not think it desirable that He (Mr. Cenley) agreed with the hon. member for East the minimum should be fixed by act of Parliament ; but ho Surrey that the problem of the currency was a most difficult thought thatit should be settled by au arrangement between one to solve. He recemniended the hon. member for Div- the Bank and the Government, arid that it might be left niinghattt to be satisfiol with the discussion that had taken, upon th e t understanding. Now, till hon. gentleman think or Was likely to take place, for the small attendance of hon. that if an agreement were drawn up—an agreement which members ou that occasion was not at all a true criterion of would be in writing—between the governors of the B ink the interest which the conetry felt on this subject. (Hear.) and the Executive Government, that the reserve of bullion At the same time he thought that an inquiry on the subject should never be Below 12,000,0001., that the directors of would be extremely useful ; but that inquiry ought to be the Bank would not consider themselves as much bound made not by a committee of that house. but by three of the by such au agreement as if it had been embodied in an act ablest financiers out of that house. He remembered well of Parliament ? Would those gentlemen think themselves the sort of committee that sat upon this subject in 1843 ;ho safe in allowing the reserve to sink below 12,100,0001., who never in his life saw a greeter juggle. That was a packed had entered into an agreement of that kind? Here was the committee. it was true only one or two members suggestion offered bytheablewriteron the subject to whom representing the Governm e nt sat upon that certunittee, but he had referred. When he came to approach the particular they were always in their places, and they voted directly suggestion, he had nothing to offer but what he (the Chan in the teeth of the evidence. That committee reported in cellor of the Exchequer) had stated. For this reason he direct opposition to the moos of evidence given before it. (the Chancellor of the Exchequer) thought that if the hon. (Hear.) The hon. member for Kendal could bear testi- gentleman should press his motion to a division, he should mony to that fact. Of the 17 witnesses who were examined feel bound to give his vote against the appointment of a by the committee, only four gave evidence in favour of the select committee at that moment. Nevertheless, he fully Act of 1841. More able moo could not have been called he- admitted that the operations of the Bank Act of 1844 was fore the committee than the witnesses they examined. All a fit and proper subject for the consideration of the house the witnesses connecte 1 with the commercial interest were by a select committee, when the proper moment had at-- unanimously of opinion that that act was the proximate rived. It not only deserved, - hut - required, investigation cause of the great p an i c o f 1817 . Si r R . P eel said that his by a proper tribunal. He trusted, however, that the. oh. bill of 1844 would prevent veolent oscillations in the money ject of his hon. friend, which seemed to be rather specula market, but never had the money market been so violently tive than practical, would be attained by a full discussion agitated as since the passing of that measure. For a can- cf the subject, which had now been somewhat prolonged, fury previous to 1841, the Ban': of England had not altered and that he would not think it necessary to press his ino it ra se t n e of t discount. He (M r . C a yl e y) b e li eve d th a t one L i on to a division. Before he sat down, however, he would fonna j o , be y the curr ency system of this country was not refer to an answer which he had reade on a pre v i ous occa so satisfactory as it might be, was the desire sion to a ques ti on po t t o him' by the hon. mem b er f or of the Ch ancellor of the EXchequer to make a gain of Invereess-shir e , w ith respec t t o a prov i s i on of the Bank 100,00(-1. or 200,000/. out of th e Bank of England for per- Act of 1841, which will expire in August next. It mitting it to manage the monetary affairs of the Govern- seemed that he (the Chancellor of the Exchequer) then ment. But at what a fearful cost to the commercial classes made an answer which, it seemed, did not satisfy the hon. of this country was that gain made ? Every 100,0001. member as to what the Gov ernme nt p ro p ose d t o d o with gained by the Chan ce ll or of the Eechequer lo means O f reference to the contents of th a t p rovis i on . There wa s n o the restrictions upon th e B ank of England. ' cost the mer- objection on the part of th e b an k o f the contents of that centile interest of this country Donn e 0 001 By the mo- provision, or that the Governme n t s h ou ld b r i ng i n a bi ll notary system of 1819, when, f or the first iine, gold was for the purpose of continuing that provision. He would made the only standard in this country, this re s ult w . s on l y repeat that the appointm en t o f a comm itt ee, h e produced — a ver y s li g ht var i a ti on in the ince of that coin, thought, would not be suitable to the preeent occasion. and there was a tendency towards its miles And what. Steadiness in the value of money and in the rate of dis measure was adopted to bring it back into this coa try 9 count was highly desirable, and wh a t h e th oug ht oug ht t o Just such a mea s u re as was ca l cu l a t e d t o ruin theureen. cantile body, for a great number of forced sales greatwer be the endeavour of every good citizen to promote by every means in his power; ane he might also add, that Made, the result of which is to produce a steadiness in legislation was quite as desirable a matter as fall in prices. A great fall in priced tempted the steadiness in the currency, and was equally of the highest foreigner to come here for goods instead of for go ld , . importance . The hou s e should not injudiciously interfere and that was the system, by whi c h th e b u lli on was with thisquestion of currency. He (the Chancellor of the brought back to our shores. That system, which was Exchequany would not be suppo sed to anction the notion ruinous to the commercial body, had been resorted to from of an y peen o - . . pp . n entertaunno the idea of s the convertibility time to time since the peace. (Hear.) A system more of the currency , buthe l h l 1 that tper they would, under all crude, b a rbarous, not to say brutal, he had i n a never heard of.. circumstan ces, n n conjectures, maintain th e i mmu - The hon. member for Birmingham had said that the phi- tability of th a t standard. (Hear, hear.) Mr. 'SPOONER sain that at last they were favoured losophers were all of oue mind on this subject, but that was vvitlothe b ut he Gove hot exactly the truth. Some of the moist eminent writers Government upon this most important on finance were totally o pposed to the principles of the act question ; but he muet aa that Le if anything were wanting of 1814. H e (M r . c a yl e y) \quil ted t o give to the connuer- before to curifirm the opiynionc e had formed with refereial body that which b e b e li eve d th ey rea lly wanted, viz., eace hi the consequences Of the Act of 1844, it was - plied by the answer which the rig ht hon. member (the sup bullion in the bank to the atuouut of :about 20,00:4000 0 the Chancellor of the Chancellor of the Exchequer) had giv en to i this motion. He should like to know whenter Exchequer had ever endeavoured to ascertain what was the He dealt with it as a speculative mot i o n — w hereas friend was the last man in the world to whorew ereas his hon. total amount of our monetary transactions under the act of 1844. as tested by the clearing-house. The hon , member thet could be justly applied. The motio n was s e ac u h an e a P n i d " for Kendal warichairman of the clearing-louse, and he (Mr. distinct on the part of the hon. member for Bizrinrieseh Cayley) went there the other day to ascertain from him —it was, how far the present monetarysyat em of thengcouanm what the amount of the daily transactions was. He told try was in accordance with the requirements of the coun , the hon. member that as return that was made to Parlia- toy, and to consider whether it could net be improved a n d nd - ment abont 20 emars ago showed that the daily transactions amended. Whether or not the hon. member was right I amounted to about 5 , 0 00,030/., but the hon. gentleman said (Mr. Spooner) had no d ou b t t h at h e spo k e the opinions of that that was altogether a misstatement—that the trans. a ver y large majority of the, commercial interests of this actions were Private, and could not be revealed to the public. country. (Hear.) The right hon. member said that the He (Mr. Cayley) believed, however, that the transactions cf provisions of the act were such that it ought to be consi the clearing-house in London amounted to 15,000,000/. derably amended, but that the time had not yet arrived. daily, which, multiplied by 300, gave a sum for the whole Had he given any reason why, this was not a proper time? year of 4,500,030,000 e c. transaction;, Let them look at Why was this not a time for a committee to be appointed. the credit involved in those transactions. They were trans- I to inquire into tide most important question ? Tiao right ... :..::u : ___~ "~ LuSt r hon. gentleman had said not an iota as to the monetary , system of the country; he had not said that he would con firm the Act of 1844, but that he would inquire into it. But what was all-important was that he should inquire in t.) the general monetary system of the country. No remedy had beenlproposed bat that of going before a committee ; but what was the use of a committee for inquiry unless something was recommended to that committee to be in quired into? What was it they had to inquire into? Whe ther the act of 1811 had answered the purpose for which it was passed, as expressed by Sir R. Peel to the house— namely, prevented a change in the value of money, and the recurrence of panics. Was not that a fair matter for in quiry ? Had the act prevented a change in the value of money, and the recurrence of panics? In 1815 there were no less than eightalterations in the rate of discount charged by the Bank of England,—the amount beginning at two and-a-half and goin g to four per cent., a nd d ownwar d s again to twosand-a-half and rising to three, six, and seven per cent., and yet they were told that there was no need of inquiry, because no case had been made out showing that the act had completely failed in its object. There never were such panics as those of 1841 and 1815. In 1325 there was a considerable panic, but a much wor .e one oc curred in 1847 an d 1848, an d if they traced the whole his tory of panics they would find that the Act of 1844, so far from preventing them, had tended to bring them about. It was said that no acts of Parliament or recommendations of a committee could put a atop to panics. He, however, knew no law of nature which could account for them, and he at tributed them entirely to our present monetary system, un der which they compelled the bank to buy gold whether it wanted it or not at a given price, and to sell it at a given price, however much might be wanted. It would, perhaps, be answered that the bulk might only give notes ; but by doing so they might increase the amount of notes in the market without any. regard to whether the demands of trade required more or not. What would be the effect of that ? It would lower the general rate of interest; and, as soon as the rate of interest fell, all sorts of speculations would start up in the country. There could be no doubt that very serious evils arose from that hollow state of pros perity which was caused by this forced, unnatural, and un called-for issue of notes. The motion of the hon. member for Birmingham pledged the house to no opinion—it as serted no theory either as to convertible or inconvertible currency. That was a questicn which he should be sorry to argue with the house, for very few members took the trouble to understand it ; and on such a subject it was utterly im posiible, therefore, to make one's•self intelligible; and, moreover, these who made the attempt were sure to have imputed to them opinions very diff Agent from those which they held. All they asked now was to have the operation of the act of 1841 submitted to the calm consideration of a select committee. The very fact of there being cycles of property and misfortune, and of their being obliged to take measures occasionally to prevent a drain of gold emp tying the coffers of the bank, was snfficieut to convince the house that an inquiry ought to take place. Was it a right and fitting state for the currency of a great country like this to be in—that the bank should be placed in a position —not by any proceeding of its own, but by an act of that house directing and controlling its management—which rendered it necessary for a Minister of the Crown at cer tain periods to break that Act of Parliament by a letter, and then come to that house for an indemnity? (Hear.) He regretted that the hon. gentleman the Secretary for the Treasury (Mr. Wilson) was not present, because he was going to allude to a book of which ho was the author. Ho would advise hon. members 'who had not seen it to send for " Wilson on Capital and Currency," published in 1"47. The strongest possible arguments were set forth in that work as to the evils of the Act of 1841, and as to its sure and certain consequences. It was a singular fact that the contents of the book, which consisted almost entirely of documente, appeared originally is a weekly publication without the name of the writer. They were afterwards embodied in the work to which he now referred, and were owned by the hon. gentleman. Ho did not blame the hon. member for this volume—it did him great credit, and he (Mr. Spooner) h a d d er i ve d muc h instruction from its pages. It was somewhat extraordinary that, in the parr° publication in which the articles forming the bisok were taken, there appeared, in January last, an article in which he thought he could trace a resemblance to the style of the hon. member. The article summed up by stating that the two grounds on which the Act of 1841 was de fended—viz., preventing panics and balancing the rate of interest—were pro ve d, no t on l y b y argument, but by the test of experience, to be equally fallacious. It went on say, " That the act is calculated, at particular times, to be a serious mischief and inconvenience, no one will deny, and if it be proved that the only advantage expected from it is based on error, it will hereafter have to be shown whether such an act should be left upon the statute-book in its present, shape." Had anything fallen from the Chan cellor of the Exchequer to induce the house to refuse an inquiry into the roes qtiences of an act which was so gra phically de: c. by one holding the high and important situation of Secretary to the Treasury ? The hon. and learned member fur Walliugford had shown good grounds for an immediate inquiry, for he had proved by do cuments that during the last six or seven months the bullion in the bank had decreased upwards of 8,000,0001., and that they were now within 2,000,0001. of the point where they were inlBl7. Before, then, they arrived at thatpoint, would it not be better, instead of waiting until it was too lat e , t o inquire int o th e su bj ect calmly and quietly, and in such a way as to carry with them the respect and confidence of the country ? tie maintained that, by the present law, the bank was obliged to extend its currency to a degree which was uncalled-for and unwarranted, and that produced a prosperity which raised prices and took the gold out of the country. He believed the house would grievously neglect its duty if it, did not . have an inquiry into this question, whieh *as no speculative idea of his hon. friend the mem ber for Birmingham (Mr. Muntz). He believed that many bubbles had burst owing to oar forcing the bank to raise its circulatitin, and that all the commercial difficulties which had arisen were cawed by the fetters imposed upon the bank. He had not a shadow of doubt that if a com mittee were granted they would establish a case for a good and sufficient currency, and that a plan could be devised for securing to the holders of that currency everything they could wish, This was a question in which the power of this country to maint4in itself among the nations of the world was involved, and he therefore trusted the house would grant a committee to inquire into it. Sir C. W' !OD would detain the house for a very few moments while he replied to two or three observations made on transactions io which be had taken a part. He denied that the rate of interest depended upon the means of circulation. The means of circulation depended upon the means of obtaining capital, and the rate of interest bore no relation to the amount of circulation. The hon. member for Birmingham had referred to the various panics that had happened previous, to the year 1814, aal those, therefore, could not have been caused by the act of that year, and it was only reasonable to suppose that those of 1815 and 1846 arose from natural causes, such as over speculation, and not from the operation of that act. Great confusion had been introduced into the debate by not understanding the meaning of the term " pound," which was simply a given quantity of standard gold, namely, 123 grains, and the bank was bound to give a Si. note in exchange for every am o u n t o f fi ve ti mes 123 gra i ns of stand a rd gold deposited with them. Speaking of 3'. 17s. 9d. as the price or value of an ounce of gold only confused the question, and the confusion would be alto gether avoided by bearing is mind the true moaning of the term " pound sterling." The hon. m em b er f ur Yug (Mr. Ceyley) had put int o his (Sir C. Woad's) mouth the ex pression that gold only was " capital ;" he was quite sure that he had never said anything which could in any way be so construe-t. It fret been said by an hon. member that the committee which had inquired into the subject was a packed committee, such as to insure a majority for the Governtneiee and at the same time he said that it was only by the accidental absence of two members that the majority of two was secured. How the hon. gentleman could reconcile his two propositions, ho (Sir C. Wood) was unable to say, but he was confident that the committee was a perfectly fair one, and desirous to arrive at a just conclusion. The hon. member for Birmingham had said that lie did not approve of the Act of 1811 ; that that act was necessary, however, so long as the Act of 1819 was in existence, but that the Act of 1819 ought to be repealed. It came, therefore, to this, that in his opinion both the acts ought to be repealed, and the country reduced to the state in which it was prior to the passing of the Act of 1810. As the hon. member's motion was founded upon - this principle, which he (Sir C. Wood) believed to be very dangerous, and likely, if carried out, to entail great misery upon the country, be trusted that the house would not agree to the appointment of the committee. Mr. 3[UNTZ then replied. He said that he had good reason to complain of the manner in which the question bad been dealt with. Every member who had spoken had misrepresented what he (Mr. Muntz) had stated—(hear, hear)—and more especially the right hon. baronet who had just addressed the house, He had never stated that he wished to get rid of the acts of 1319 and 1841. What he said was that the Act of 1844 had not answered the expec tations which had been held out respecting it. One lion. member (Mr. Drummond) had recommended that the inkpot should be thrust dowel the throat of any one who brought forward such a qusation—(laughter)—but it was not every one who could swallow an ink-pot—(continued laughter)—and as long as he (Hr. Muntz) had the honour of a seat in that house, he should go there as an indepen dent man, elected by independent men, to do what he thought right--(hear, hear)—and to bring forward such subjects as he considered proper. (Hear, hear.) He asked the house to pledge itself to nothing. He simply asked for a committee to inquire into the matter ; and when the Chancellor of the Exchequer said that a committee would take a long time to inquire, it was only the greater reason why it should be appointed at once. He hoped, therefore, that the committee would be granted; The house then divided, and the numbers were— For the motion . Against it ll5 Majority against the motion — —47 ELECTIVE FRANCHISE. Major REED said that he should postpone the motion which stood in his name for •leave to introdtice a bill "for conferring the elective franchise upon persons (not being aliens) assessed to the income tax, but not upon a register of electors for Great Britain and Ireland," for fear, if he brought it on, he should meet with the fate so narrowly escaped already this evening by the hon. member for Bir mingham (Mr. Muntz)—a count oat. He complained that the Government did not take measures to prevent such a scandal as that to which he had referred occurring on even ings devoted to the private business of the house. -THE CASE OF TALBOT V. TALBOT. Mr. J. G. PHILLIMORE then moved for the docu ments connected with the case of Talbot against Talbot., tried by Mr. Justice Tommie in May last. He entered at some length into the circumstances of the case, which was a charge of adultery against Mrs. Talbot, and he con tended that the judge had, through incapacity or the infirmities of ago; taken a totally incorrect view of the case, 'misquoted the evidence, and misapprehended the effect of what was laid before him. He contended that if these allegations were borne out by the facts, this house ought to interfere, and prevent the judge who tried the case from committing other instances of injustice through his incapacity. Mr. E WART seconded the motion. Mr. WHITESIDE defended the decision, and went over the evidence to show that it bore out the conclusion of the judge. -The judgment delivered by Judge Torrens was the judgment of the whole court, consisting of five members, but the hon. gentleman opposit e c h ose t o i gno re that part, and to attck only the venerable judge who presided. The bill for a divorce was now pending in the House of Lords, where all the witnesses might be examined over again, but this motion was brought forward to fore stal the decision of the case. He commented with great severity upon those repeated attempts to interfere with the independence of the Irish judges, Tho SOLICITOR-GENERAL for IRELAND also ad vised the house to negative the motion. Mr. PACSS and Mr. ,WALPOLE concurred in advising Mr. Phillimore to withdraw his motion, as the House of Commons was no fit tribunal for the trial of such cases. Lord PALMERSTON also appealed to the hon. member for Leominster not to press big motion. Nobody could have listened to his speech without doing justice to the motive of s that had l e d hi m t o b r i ng th e case b e f ore t h e hoc's°. It was a difficult thing to assign limits to th e func tionshonpes Ikti it mraa desirable that thorehould not press their functions to an exteat which rendered it doubtful whether they had not exceeded them. But nothing could b 3 clearer than that it was not one of their functions to review the proceedings of courts of justice. They were altogether incompetent for such a duty. There might be cases of gross perversion of law, either by intention, cor ruption, or palpable incapacity, that it might be necessary for them to address the Crown to remove a judge. But in this case his hon. and learned friend could not single out the judge whom he principally attacked, as being the sole author of the judgment impugned. It was not the judgment of one individual judge, but the collective judg ment of the whole court against the other members, of which no imputation had ever been thrown out. Mr. J. G. PHILLIMORE said, that after the appeal of the noble lord he would not press the motion. Mrs. Talbot had been precluded from all communication with her family, and she had been accused of insanity when she had only lapsed into childishness in consequence of the treatment she had received. The statements were con firmed by her only brother, and before such evidence he thought the insinuations of the hon. and learned member opposite unjust and unfounded. It was impossible to deny that Mr. Talbot had retained in his service the man who had attempted to violate his wife. The motion was then put aud negatived without a EQUITABLE COHNIITTEE OF CONCILIATION. A select committee was appointed to inquire into this subject, on the motion •f Mr. MACKINNON. DRAINAGE ADVANCES ACT AMENDMENT. This bill was read a third time and passed. The Secretary to the Poor-law Commissioners (Ireland) Bill was read a second time. ANNUITIES BILL. This bill passed through committee. The Consolidated Fund (1,631,0051.) passed through committee. The Exchequer Bills Fending Bill passed through coin mittee. The Metropolitan Local Management Bill, and the Marine Mutiny Bill, were severally brought up and read a first time. The house adjourned at a quarter past 12. THEATRE ROYAL, DRURY•LANE. Lessee. Mr. E. T. Smith. THIS FVENING, icor A I IID JUDGE. o c•alude with !lEY DIDDLE DIDDLT, 7larlwpen King Nonsense and the Seven Ages of kali. TEUCATRL ROYAL. II kYNIkRKET. traler the Matiagement of Mr. Buekstone. THIS EVENINO, THE BUSY BODY. Followed by THE LTTTLE TiIEA.URE. After which the New CO:nic Christmai Pantomime, entitled THE BUTTPAFLY'i RILL ANTI) TEM egtAiiTIIPPER'i YEAST; or, Harlequin and the Genius of the ROYAL PRINCE , O3'4 rflE ritE. OXPOR 0-S PEER 1. Under the Management of Ur. Criaat.o THII EVENING, KING HENRY THE EIGHTH. Queen Katharine, Mrs. C. Kean; Cardinal Wolsey, Mr. C. Kean. After which, HARLEQUIN AND TIT MVD AND TII 'MAGPIE ; or, the Fstry Paradlea and Hanky Panky, the Enchanter. Harlequin, Mr. Cormack ; Clown, Mr. lintine ; Pantaloon, Paulo; and Colum'llne, Miss Caroline Adam. TIIEATRE ROYAL ADELPELI. Proprietor, Mr. B. Viebater.—Dtroetress, Madame Celeste. THIS EVENING. BETSY BAKER. To be fAlowel by THAT BLESSED 8.11'.Y. To conclude with JACK AND THE BEA.N STALK; or, .IlArlequin and Mother Goose at Homo &gain. In which MOISPI. J. 131 And, P. Redford, Madam Celeste, Miss Virylidliam, and Miss E. Arden will apaear. ROYAL OLYMPIC THEATRE. Lessee and Mana.ler, Mr. Alfred Wigan. TILTS EYSNING, STAY AT HOME. After which will be produced a New and d.nbly-moral, though eecessively old, Melodramatic Fairy Extravaganza, entitled THE DISCREET PRINTC ES - 1. ; the Three (11,ivs Msta.Ts. In which Messrs. Emery, F. Robson, 11. Cooper, Miss Marstoi, and 3fiss Maskell will appear. ROYAL, SURREY TITEATRE. Lessees, Messrs. Shepherl and Cresvrick. THIS EVENING JASPER LANGTON; or, A Duel to the Death. To conclude with A PRINCE OF ; or, ifarleluin and Jane Shore. itOYAL 4114.A.5f) TfIIII.4.PRF. Under the direction of Mr: Payne. PE SCE AT ANY PRICE. FoiloweA by VIE lONIAN - I'lC WIDO v. `Afler LE CHALE T. T. eonclule with BLUE JACKETs. AhTT4grS UOYAr. AMPRITIMATRF. Lessee and !Vlansrer, %!r. Wm. Cooke. THE - 4 EVENING, F.xr , nllfl!ation of the ntrfect docil , ty of the horse, in ac , lons closely allied to reason. in a n , lv 4ran4 Or entll Equestrian Spectac! , ., called THE ARAB OE THE r) , :AF,Rr ANO HIS FAITHFUL STEED. The horse trained by Mr. W. Cordie. After which, the DELINEATIONS' of EQUESTRIAN ART in the ARENA. To conclude with HARLEQUIN AND Rl', GEORGE AND THE DRAGON; or, the Seven Champions of Christendom. The Performance of the Majestic Elephants will take place during the Evening, and the ascent from the ring to the stage. Box-of Ace open from Eleven till Four. stae Manager, Mr. W. West. Equestrian Director. Kr. W. Cooke r jun. EMIT STAAUET'S SEVEN' AG P.:3 OF \VOA U.B - , Every Evening at 8, and on Saturdays at 3. Pronounced by the unanimous voiee of the press, and by nizhtly increasing audiences, to be the Greatest Artistical Triumph of the day. - - Stalls, 35.; Reservel Seats, 25.; Back Seats, Is. SAINT lIARTIN'S 'LILL, Long-acre. HIGH WATER AT LONDON BRIDGE. Tins DAY—Morn. 42 min. aft. 6—Evening 4 min. aft. 7 AOHRO w—Morn. 32 min. aft. 7 —Eveniag 7 min. aft. 8 THE WEATHER—SuN OFFICE, FED. 29. THERMOMETER, IN THE SHADE. 52 highest since noon yesterday. -lowest this morning and durf.ng the night. a —this day at noon. BAROMETER-30 59. WIND, S.E.- -Light, with very fine, mild, sunshiny weather. LINDON, FRIDAY, FEBRUARY 29, 1856. Last night the Hon. Gentleman the Member for Birmingham brought on his promised motion ' for the appointment of a select committee "to inquire into how far the present monetary sys tem was in accordance with the requirements of the country, and to consider if it could not be improved and amended." This was negatived by a majority of 47 in a house of 183 members. It thus appears that on such a question, the most important that could possibly be brought under legislative consideration, not one-fourth of the chosen representatives of the people thought pro per to attend in their places, and that a large majority of those who put in an appearance thought no inquiry was wanting on the interest ing and important topic. Ministers carefully ab stained from taking any part itt the discussion until they had, in the first instance, ascertained the feeling of the house. The general apathy, however, encouraged them to adjourn the subject sine die. Their weight thrown into the scale turned the balance, and they were thus enabled to shelve it for an indefinite period. Nor will this be the only result. For Sir G. CORNEWALL Lovis, who confessed that there were parts of the Bank Charter Act of 1844, which required inves tigation when a proper time arrived, will be encou raged to throw himself into the arms of the Cur rency Quacks, and to take to himself counsellors of the Mercator or JONE 3 Lorn School. It will be seen that the motion of Mr. MUNTZ was merely for inquiry. It committed the House in no possible manner. It might have been an investigation into the operation of the Act, as sug gested by the Chancellor of the Exchequer. All that was required was that the subject should be ,properly ventilated, and receive all the light of which it was susceptible, so that parties might have full information before the matter shall be finally disposed of. Notwith standing, however, the candid admission of the Times in lad October, that "a ~ ~ Y'+f __.-",~ COP:ENT-GARDEN THEATRE. MR. PEARSON'S BENEFIT. Mr. Harry Pearson, the popular representative Of Henry the Ei g hth, t oo k hi s b enef i t at the abov e thea tre last night. The representative of the despotic and lion' tious monarch was warmly received by a crowded audi; tory ; and in hi s d e li neat i on o f t h e character of Serge ant 1111F=quitoon, i n "Gilelf coy," sh owe d versat il e po wers 0 ' a high order. M r . P earson is abtut starting Upon * provincial tour, and we wish him every success. PROFESSOR ANDERSON'S BENEFIT. Of all the marvellous entertainments with which t° B Great Wiz ar d h as rega l e d the public, the most astoultu: ing figures in the bill of fare which he has issued for bi g " carnival benefit" at thi s th ea t re i n th e early port' of next week. Six separate pi eces d e t/tear 4 are announced for Monday, namely, en NW* a pantomime, a drama, a melodrama, a far t '' and a, squib ; the g ran d s t ar among t h e galaxy o f t a le° whe have in most handsome and commendable mall s volunteered their services for the deserving beneficiel' / h ,' being Charles Math ews , i n propr i a persona, from t ee large "house over the way." We thus find that te e amicable feud between the -rival houses o f Core° garden and Drury•lane bas resulted in an armistir.; In return f or th e ass i stance of Mr. Charles Mathews and others of th e D rury -l ane corps , tiT , Anderson will arpear at Drury-lane on Wednesdel' for the benefit of Mr. Smith. There has been not bil l like this bou n t eous "f east o f reason and flow of settl. since the d a y s o f th e ancients, when the citizens o f used to coneregate in the amphitheatre from rise to oat ° sun. 01 Tuesday, the close of the Professor's present s e b * ; son, a Grand Bat M asque wi ll const i tute the c imax of tt, festival. H e m i g ht un d er any circumstances secure'', reckon on the good support of his friends, the puhlie' but there is som e thi ng ea extraor di nary in the produc , tion of a seri es o f exce ll ent performances commend ing at 1 p.m. an d go i ng on t ill m i dnight, that wc, suspect the th ea t re wilt scarcely amoral:l 3oi l be the applicants f or a d m i ss i on on M on d ay ; and 'O, votaries of Terpsich ore are sure to rus h i n tb' sands to the festive scene on Tuesday eventel The Professor is, o f a t ru th , a man o f gigantic ml%; wondrous alike in concep ti on an d execut i on ; none have exerted themselves more strenuously in cause of popular en t er t a i nment, so we f eet assure d th • those to whom h e h as so f reque n tly and so long b e en source of exhilar a ti on w ill ra ll y round him on h i s fit ovation at Cov en t- gar d en, an d give him, what he al e well, a signal bumper at parting for "mild long syn.' MR. E. P. HINGSTON'S BENEFIT. In everything that has occurred since the openinC Boxing-night, it is a d m itt e d on every side tha t Nrza.rd ha, fully redeemed his prumises to his libe l patron, " the pub'ic." There was one point, howev er, on which considerable disappoikAment was manifestev_ j ' It was felt that a suitable opportunity ought to ha'" been afforded of m an if es ti ng t h e grat i tu d e wh i c h e ve r, l , person who particip a t e d i n t h e a d vantages offered MII"f have felt to-the i nva l ua bl e secre t ary' and treasurer of the Wizard, Mr. E. P. Hingston. This, we rejoice te find, will be remov e d, a lth oug h a diff erent venu e PS neces4arily been selected for the ovation. On Tuescht the 11th March, Mr. Hingston will take a benefit attPg Lyceum, in which the excellent beneficiaire will pertorl the role of Box, in the well-known piece of " Box Cox." The elite of the company have volunteered the!, services for the occasion, and amongst others the iaiter table Flexmore has registered a vow to excel himself, pos-ible. Auriol and other ce l e b r iti es will 0 16 " render important aid in the good cause. There mot such a case be a bumper, and every one will do well t make a minute in hi s di ar y " to ta k e a t i c k et, " and I'l°o to make early application. STATE OF TRADE, MANCHESTER, Feb. 28.—The market has not bra quite so activ e as on T ues d ay, b ut reta i ns its firrovel/.; As at Blackbu rn y es t er d ay , yarns are i n some eng,:, again r a th er d earer. Th e d emand embraces most kin"; of twist, a n d 40' s are very scarce, and consequently t ies". The higher nu m b ers o f yarn aro also inquired for. banne facturers are not b u yi ng muc h i n anticipation of lilt% wants, and both is cloth and yarn there is far fro general confidence i n th e p r i ces o f cotton, wh i c h a re main source of the higher value of manufactured god B l but a natural an d equa bl e state of the market i s l o oked on as almost impossible for some time to come, and °i erg have no cou rse l e ft th em b ut to supply their sln nt, i c memtime, with as cauti ous a l oo k a h ea d as t h e y wee t° future contingencie s . Th ere i s very li tt l e i nducem ent speculation. PROBABLE FATE OF THE PACIFIC• LIVERPOOL, T HIIR SDAY• The following was p os t e d i n t h e Underwriters' r°°ta to-day : " Gl asgow, F e b. 2 7 • " The Edinburgh, screw steamer, which arrived h e re P . k on the 14th inst. f rom N ew Y or k , passe d on the .; inst. a large q uan tity o f b ro k en i ce, an d i n it B s° quantity of broken cabin furniture, fine ornamental do or: ' with white or g l ass h an dl es, such as might have belong to a first class steamer or ship." The Pacific sailed for this port on the 23d ult. DARING ROBBERT.—Yesterday evening, about ba ll ' past six, a very impudent robbery was committed O P the premises of Mr. Walter, a pawnbroker, carrying business at N o . 106, Ald ersgate-street. It appears Oh" the shop window was broken by a large paving stone' tle.ewn by one of the thieves, and several watches, ringl and other valuable property, exhibited for sale, secure 41c his accompli ces . T he b ooty amounts to upwar d s of 701. The thieves effected their design in so short i h space of , im e th a t no attempt o f capture cou ld be 13:Wive' THE PARISH OF ST. P ANCRAS AND THE P o oE-14A, BoastD.--Yesterday a sp ec i a l mee ti ng o f th e ne wly elected vestry o f St. P ancras was h e ld i n the grea t ball , King's-road, Camden-town—the Rev. T. Dale, AL A I the vteer, in the chair—when the subject of the press° o state of the workhouses, an d th e a d m i n i strat i on of th Door relief, iii that parish, as detailed in the report o Dr. Besce Jones, was brought u n d er di scuss i on . Afte r a few observations from Mr. Baker, the letter was ° I-• dered to be ent ere d on th e minutes, as was also the re' pert of the c omm itt ee o f the hoard of directors. ' l l subject will b e brought undo. discussion at the ,n eN muting of the vestry. TRADE IN CHINA.—The telegraphic advicem ff . ° China yesterday were to the 15th of January. The e l ; ports of tea to date were 54,000,0001 b., 49,800,0001,. up to the corresponding period of last yea r . Of silk they were 28,000 b a l es , aga i nst 28,860. I.` rate of exchange h a d exper i ence d a movement at Can 0 calculated to g i ve an i ncrease d st i mulus to the shiproe n a of silver from this side, the:quotation having advan c % from 4s. 101 d. t o ss. (Md. At • Sh ang h a i, h ow ever, i f was 63. 9d., whi c h s h ows a fractional decline. Stacks ,° tea ar© described t o b e generally light. Comuson scriptions were scarc e , an d t h e price of flue was We maintained. The rat e s o f s ilk were ' also firm. With r gard to the import trade the Recounts are encourage al, the demand for manuf a ct ure d goo d s, especially °- metals, having shown decided symptoms of impro/°' ment. THE New LOAN.—A bill for ra,isino. 5, 000, 000/. 1 / 1 „, way of annuities, now before 'the Commons' House, en; acts that every contributor 01100/. shall be entitled t 1111. 2r. 2d. in the 3 p er C en t. C onso l s. Th e contr ibut°, ro , who have already deposit e d 10 per centum on t h e su ms °J o them subscribed are to pay the remainder by instalroeP:i as follows—viz., 101. per c en t. on th e 3d o f March, 74'1„: per cent. on the 13th of March, 251. p er cen t. on t h e 29th of March, 151. per cent. on the 10th of April, and the 14 ; maining 151. per cent, on or before the 24th of April rie l ensuing. Guardians may subscrib e f or i n f ants. O B dividend on the stock will be 3 per cent, on an annug of 111/.24. 2d. to commence from the sth of JanuarY:, 1856, and to be payabl e h a lf- year l y. Contributors rah.: anticipate payment of th e i r i nsta l ments, but no discou nt will he allowed thereon. Subscriptions paid in part onif,' and not complet e d w ill b e f orfeited. The Bank is to be f"' lowed 5001. for every 1,00%000k of the said loan for the expenses of management, equivalent to the rate of Is. P er cent. The 3 p er cen t . A nnuities are to be added to the j o int stock of Consols, A sinking fund will be formed for the extinction of this new debt until, by means of a yearlif payment of 250,0001., a sum of 5,555,4161. 13s. 4 c l ; 3( ..t the fund e d d e bt h as b een cancelled. 4. second bill, 3'l; issued, p r o v id es f or f un d ing o f E xc h equer -bills to 4'- amount of 3,000,000/ , the terms allowed being 111/. V' 21. in Consols for every 1001. of Exchequer-bills. I, 11 ; -e terest on the hills will b e a ll owe d f rom t h e d ate of the -eyrie up to the days on w hi c h th ey are deposited. Sit; scribers may pay money instead of Exchequer-bills giving a premium of ss. per cent, on the money paid. n. THE RUGELEY POISONING CASE AND THE TRIAL OF OFFENDERS BlLL.—This DM bill, empowering t" Court of Queen' s Bench to order certai n o ff en d er s to li es tried at the Central Criminal Court, has been sent do' s from the Lords for confirmation by the Lower House: The former court is hereby empowered to order any indictment which has been removed into it bl j certiorari to be tried at the Central Grit:oil % Court, if it shall a pp ear t o b e expe di ent to tu ends of justice (as in a recen t no t or i ous case). when such order has been made the depositions are to be r e ; turned to the Central Criminal Court, and the prison ~% is to be safely removed t o N ewga t e , th e k eeper of t he original prison being required to do so simply on t'i t production of an office copy of the said order witbou writ of habeas corpus. No defendant need appear Iu person bef ,re the Court of Queen's Bench. The O° Y tral Criminal Court may order the payment of the ,e h. penses of prosecutor an d w it nesses, rewards, kc. -1"° objection can b e ra i se d t o any wr i t o f cert i orar i , e ithe r in the Criminal Court or in a court of error. A prison e _ k t convicted at th e C en t ra l Cri m i na l C ourt un d er t hi s ouy o may be punished e ith er in the coun t ry w h ere t h e c ri° was committed, or within the jurisdiction of the court, at the discretion of the judges. Where the Crown 01P tains a trial at the Central Criminal Court the ezpen s e of witnesses is to be advanced to the defendant. Tb treasurer of the county where the offence was committed must pay for the priso - ner's maintenance in Newgate. ST. PAUL'S CHURCH-YARD AND ITS IMPROVEMENTS."'" It would appear that the Corporation of London hav e missed the opportunity of remov i ng th e l arge boos" which abuts upon St. Paul's Churchyard, at the corner a of Watling-street, and extends to Old 'Change, ap_. which would materially h ave a id e d i n ren d er i ng the ar.,7 uniform with St. Paul's Schools on the east olds. occupant, Mr. Frederick Goodyear, however, with shrewd eye to the commercial advantages of the site- - one of the best in London —has converted the house into extensive warerooms for the wholesale disposal of bof:, nets fabricated i n ever y quar t er o f t h e wor ld , an d brot! . ..gn" here for re-di s p ersion over th e grea t er par t o f it. M r ' Goodyear, while profiting largely by the present alteTa tions, may well chuckle over the anticipation of arz in creased bonus in the event of his removal being requisite hereafter by the authorities for the much-required 1 . prcivertionts of tins portion of the Curcluard. , mi . Er occ of Noi st. Lyc Cet