The Sun. — London, England, 1857-12-01 00:00:00

MATANZAS AND SABANILLA RAIL ROAD SEVEN PER CENT. BONDS. —The Half-yearly Interest on the above Bonds, due on the 15th inst., will be paid at the Counting-house of Messrs. T. Henry Schroder and Co., 145, Leadenhall-street, on that day, and every succeeding day, between the hours of 11 and 2. The Coupons, with a list in numerical order, must be left two clear days previously for examination. Printed forms may be had on application as above. London, Ist December, 1857. HER MAJESTY'S THEATRE. GREAT CLASSICAL CONCERTS. A HAYDN NIGHT, A MOZART NIGHT, A BEETHOVEN NIGHT, A MENDELSSOHN NIGHT, and _ _ A istri3Eß. NIGHT. M. JIILLIEN has the honour to announce that, in conse quence of the great number of persons unable to obtain admis- Mon during the last performance of the " Indian Quadrille," he has made arrangements to postpone his departure for the provinces, and to give a few more concerts at Her Majesty's Theatre. The great and unprecedented success attending the " Indian Quadrille," and the other works lately pro duced, has prevented M. Jullien giving those classical nights which he was the first to introduce to the English public, and which have always been received with such distinguished favour by musical amateurs and the public generally. In order to comply with the repeated requests of his nume rous patrons, M. Jullien has arranged for a SECOND SERIES OF CONCERTS, which must necessarily be of very limited duration, owing to his departure on his provincial tour shortly before Christmas. They will commence TO-NIGHT, December I. It is M. Jullien's intention to give, during their continuance, a " Haydn Night," a " Mozart Night," a " Beethoven Night," a " Mendelssohn Night," and a" Weber Night." On these occasions the first part of the programme will be selected solely from the works of one of these great masters. The second part will be varied as usual Madlle. Jetty Treffz, and M. Edouard Remeuyi. THIS EVENING (TUESDAY, December Ist), will be produced the New Grand Descriptive Composition, by M. Jullien, entitled THE INDIAN QUADRILLE, and GENERAL HAVELOCK'S TRIUMPHAL MARCH, performed by M. Jullien's Orchestra, assisted by the drums and fifes of the Grenadier Guards, the Coldstream Guards, and the Scots Fusilier Guards ; and a Grand Chorus, " Rule Britannia," and "God Save the Queen." M. Jullien has the satisfaction of announcing that he has succeeded in retaining the services of that popular vocalist, Madlle. JETTY TREFFZ. At the close of this Second Series of Concerts, Madlle. Jetty Treffz will leave London for Vienna, M. Jullien having been unable to induce her to stay, even for his provincial tour. Soloists of the highest celebrity are also engaged for each of the Classical Nights, including the celebrated pianists, Miss Ara bella Goddard, and the Hungarian artiste, M. Edouard Re menyi, solo violinist to her Majesty. _ _ The magnificent decorations which were prepared for the Bal Masque will remain during the continuance of these Con certs. The whole theatre will be ornamented with wreaths and garlands of flowers, in gold, silver, and colours. The decorations have been prepared by Messrs. Chabot and Co., who were c arged with the decorations for the grand ball at the reception of the Emperor Napoleon 111. at Stuttgart, and who were engaged, at a great expence, for the express purpose of arranging at her Majesty's Theatre a display which will be seen for the first tine in this country. M. Jullien feels confident that he will receive, for his Second Series of Concerts, a continuance of that distinguished pa tronage and support which have already beep so freely ac corded to him. The Concert will commence at 8 o'clock. Prices of Admission—Promenade, is ; Upper Poxes, ls. ; Gallery, Is. ; Dress Circle, 2s. 6d.; Private Boxes, 10s. 6d. and upwards. Prospectuses, with full particulars, may be had at the Box •ffice of the Theatre ; of all the principal libraries ; and at Jedlien and Co.'s, 214, Regent-street. A Mendelssohn Night will be given on Thursday next, December 3. THEATRE ROYAL, HAYMARKET. Lessee—Mr. J. B. Buckstone. rHIS EVENING, to commence at Soven o'clock. with a new Comedy, entitled AN UNEQUAL MATCH. Princi. pal characters by Messrs. Buckstone, Compton, Chippendale, W. Farren, Miss Amy Sedgwick, Mrs. Buckingham White, an Mrs. E. Fitzwilliam After which, a new farce, by the author of Box and Cox, entitled TAKE CARE OF DOWB, in which Mr. Buckstone will sustain an original oh tractor. Concluding with THE FISH OUT OF WATER. Sam Savoury, Mr. Compton. Orchestra Stalls (which may be retained the whole of the evening), 6s. each. (No charge for booking.) First Price. s. d. Second price. s. d Dress Boxes Upper Boxes 3 0 Upper Boxes 2 0 Pit 2 0 Pit 1 0 - - ilwer Gallery I OlLower Gallery 0 6 Upper Gallery 0 61No half-price to Upper Gallery. _R OYAL PRINCESS'S THEATRE. Proprietor, Mr. Charles Kean. THIS EVENING, will bo performed Sllakspere's Traal - dy or KING RICHARD 11. King Richard 11., by Mr. Chas, Kean ; Queen, by Mr.. C. Kean. Preceded by a new farec, in one act, entitled A CASE OF CONSCIENCE, THEATRE ROYAL, ADELPHI. Lesc-e—Mr. Ben. Webster. THIS EVENING, will be performed THE MIDDY ASHORE. Miss Marie Wilton. _ . After which, a new roman tic drama, cal'ed THE LEGEND OF THE HEADLESS MAN, and in which Mr. Benjamin Webster and Madame Celeste will perform. Pollowed by the original Apropos Sketch, entitled THE DRAPERY QUESTION ; or, Who's for India I Messrs. Wright, P. Bedford, C. Selby; Miss M. Wilton and Miss 31ary Keeley. ROYAL LYCEUM THEA.TRE.—Lessee, Mr. Dillon.—Under the joint management of Miss LOUISA PYNE and Mr. W. HARRISON, THIS EVENING, will be pe formed Balfe's new opera, THE ROSE OF C STILLE. Characters by Miss Lou . sa Pyne, Miss Susan Pyme, Miss • Marian Prescott, Mr. Weiss, Mr. A. St. Albyn. Mr. G. Honey, Wallworth, and Mr. W. Harrison. Conductor, Mr. Alfred Mellon. To concludb with the now Farce, entitled A PAIR OF PIGEONS. Mr. G. Honey an I Miss Cuthbert. Private Boxes, £2 12s. 6d., £2 25., and £1 11s. 6.1. ; Stalls, 6s. ; Dress Circle, ss. ; Upper Boxes, 4s. ; Pit, 25.; Gallery, Is.—The Box Office is now open daily, from 11 to 6, under the direction of Mr. Chatterton, jun. _IVY AL OLYMPIC THEATRE. Lessees, Messrs. Robcon and Emden. THIS EVENING, will be performed a new and original c..medietta, by Sterling Coyne, Esq., called WHAT WILL THEY SAY AT BROMPTON ? Mr. Robson, &c. After which, LEADING STRINGS. To conclude with the original Extravaganza, by Robert R. Brongh, Esq., called MASANIELLO. Messrs. Rob eon, Cooke, Danvers, die ; Misses Swanborough, Thirlwall, Hughes, Bromley, and Mrs. Melfont. Commence at half-past Seven. OYAL SURREY THEATRE. Lesseos, Mews. Shepherd and Cr: - .‘s wick. THIS EVENING, will be performed THE WIFE'S RE VENGE. After which, INDIA, 1857. Messrs. Shepherd, Cres. Wick, W. Smith, Vollaire, E. Potter, Widdicomb, Belmore, l'appivz ; Miss M. Eburue, Miss Webster, Miss Chalmers, Miss Johnstone. To conclude with WELLINGTON FIG.'S. CI ANTE R BIJ RY HALT, Westruin3ter-road.- 1-} OPEN EVERY EVENING.—The follow nq company of Vocalists are engaged for the performance of 8 elections from all the popular OPERAS, MADRIGALS, CHORUSES, GLEES, DUETS, &c., viz. :—Miss Russell, Mrs. Badzey, Madlle. Marietta, Mrs. Palmyro, Miss Bru nel', and Madame Marietta; Herr F. Jonglirnatr, Mr. Renshaw, R. Grover, T. Fariant, S. .;o :r, J. Barker, W. Melling, Senor An'onio, E. L. [lime, and 'Jr. St. A;byn; Messrs. S. Collins, W. T. Critclifield, r Dui E, Mack neY. Pianoforte, Mr, Cecil Hicks; harmonium, Master ; Director, . Herr F. Jonghmans. Commence at Seven o'clock precisely, Suppers, &c., until twelve o'clock, HIGH WATER AT LONDON BRIDGE. Taxi DAY —Morn. , 1 min. aft. 1 —Even., 24 rain aft. 1 TO-310RBow--Morn., 49 rain. aft. 1--Even. 13 min. aft. 2 THE WEATHER—SUN OFFICE, DECEMBER 1. THERMOMETER, IN THE SAA.DE. 45—highest since noon yesterday. 45—lowest this morning and during the night. 52 —this day at noon. BAROMETER, 22.88—falling. WIND, B.S.W. to S.W. ; light, with mild dull weather. (7- ' -2 i tiv j LONDON, TUESDAY, DEC. 1, 1357. We would earnestly direct public attention to the very interesting and important meetings of Monetary Reformers, which have just taken place, on Friday and Saturday last, at Glasgow and East Retford. Many of the leading merchants and inhabitants deplored the evils to which they had recently been exposed from the baleful operation of the Bank Charter Act, and almost unanimously c a l led upon the Government for its repeal, or modification. Although these gentlemen di.l not go to the full extent we could have desired, in impeaching the equally injurious Act of 1819, it is satisfactory to find a spirit of inquiry excit, !( l and a disposition to questi on th e authoritative dicta thundered forth from P r i nt i ng -house -Square by the organ of " the hard cal cu l ators. " The :re : dictatorial assertions will no longer bo taken on trust. If every description of credit is t o be anni hilated, the faith in the currency quacks will also be destroyed. Truth must be benefited by discussion. A strict, searching, Unprejtaked, and disinterested investi gation is all we desire, and we earnestly hope that all the Chambers of Commerce throughout the entire country will hold meetingz4, so that tilt real feelings and wishes of the people may bt clearly ascertained. We believe that there wool be an overwhelming majority against the obeexiou • law and in favour of free trade in money, or inoze Z 11E SUN, LONDON, TUESDA Y EVENING, DECEMBER 1, 18N7, properly speaking, in currency, so great, that its speedy abolition would be ensured. It has, toiti/ recently, been the object of the hard calculators to mystify the nation, to induce the industrial classes to suppose that a really simple question was one of a very elaborate character ; and it is really ridiculous to find how many have been misled, by the trick. Let those persons only de vote calm and attentive consideration to the question, in which they are more deeply concerned than any other that could be ventilated—en which the welfare and prosperity of the country, and the happiness of all the producers, the working bees of the national hive, mainly depend. To the meeting at East Retford, a full report whereof will be found in another part of this day's impression, we can refer with feel ings of unalloyed pleasure and satisfac tion. The speech of the Reverend Jowl TWELLS disclosed a perfect knowledge of the subject, and that knowledge turned to the very best acount. Nor was the Rev. Gentleman for half measures ; he went t 3 the very root of the evil, and unanswerably proved that the Act of 1819 was equally impolitic as that of 1844, although its injurious results were greatly en hanced by the complementary measure, which had not only twice failed in the avowed objects for which it was enacted, but would have produced the very effects it was said it would avert. In every point, in every argument put forward by Mr. TWELLS, we fully and cordially concur. Where everything was put forward in terse and appropriate terms, it is impossible to present a summary. The process of condensation had been carried to the highest degree, and if we allude only to some few points, it is not because the others aro less worthy of attention, but that time and space prevent the possibility of looking to all. Mr. TWELLS' brilliant, and what is still better Ibis truthful —and, we do riot mean to intrude on the functions of Punch by perpe trating a play on words), his sterling acid Tess, must be carefully read in =tens°, to be duly ap preciated. But for the extraordinary and unexpected dis coveries of gold in California and Australia, and the increased production from the Ural Moun tains, the system would have long since fallen to the ground. The introduction of 150,000,0001. of gold bolstered up the plan, but foreigners ob tained the benefit of that enormous amount through the agency of Sir R. PEEL'S Acts. The palmy days of Queen ELIZABETH, as they were termed, merely occurred from the addition to the circulating medium through the discoveries of COLUMBUS. There were not in those days currency quacks who professed to be " bard calculators," and who considered that they had a right to prey upon industry, by transferring the property of less wary men t 3 their own hands, at less than half the actual value. Plunder it might be termed in the vicinity of the 011 Bailey. " Looting " amongst Sepoys, " Swag" in the ancient rookeries and thieves' kitchens of the metropolis, but "hard calculation" in Printing-house -square. We guard against skittle sharps, and those who take advantage cf unheeding rustics, but the object is the same in every instance—to appropriate the pos sessions of others. We may say with PEAOHU3I in "The Beggar's Opera"— " Since laws were made for every degree, To curb vice in others as well as in me, I wonder we've not better company Upon Tyburn tree." It is very easy to prophecy after tho event has happened. Rather an old truth it must be ad mitted, but one juit now well worth repeating and bearing in our remembrance. Eighty thousand Sepoys revolt suddenly in 1857 in the Bengal Presidency alone ; perhaps altogether the aggregate number of mutinecra in that portion of our Eastern Empire may be little, if anything, short of one hundred thousand fight ing men, carefully trained and maturely disci plined. The defection startles us like a thunder bolt from a blue sky in a serene noon at midsum- mer. The intelligence of so strange and appalling a calamity falls upon the national ear as unexpec tedly as the sudden explosion of a volcano in the midst of some calm green English landscape. Yet —after the first shock of astonishment, everybody begins to think—" Precisely ! What I have all along anticipated I saw clearly from the very first how it must all end ! This is exactly what I myself long ago predicted ! I knew perfectly well the inevitable consequence of our misplaced reliance upon these men ! The faithlessness of the Sepoy was a thing notorious !"—and so forth. Now, for all this, there is really only ono word of appropriate comment ; and that ono word—hum- bug ! From first to last the self-gratulations ex pressed far and wide, as to the all but universal recognition of the insecurity of our hold upon the loyal affection of the Sepoy soldier, is literally the very grossest delusion imaginable I So far from the Sepoy being in any way all this while under the ban or the brand of suspicion, he has been, now during one entire century, vaunted fur his steady and reliable attachment. We have, one and all, been, more or less earnestly, bragging of his devotion to our Government. "One and all" we repeat—even the most sagacious of ob servers. Even men like Sir CHARLES NAPIER, the glorious conqueror and adminis trator of Scinde. It is erroneously imagined by many who have not themselves carefully scru tinised the writings and opinions of that remark able man that he explicitly foretold the Infidelity of our Sepoy troops. A most extraordinary mis apprehension, to say the least of it ! When, on the contrary, so far from expressing any doubt whatever as to the loyalty of the Sepoys, Sir C. NAPIER, during the course of his illustrious career, took frequent occasion to eulogise that native section of our Anglo-Indian Army in the strongest language imaginable, From his spoken and written words alike, might very readily be culled panegyrics the most emphatic upon the Sepoy Soldiery—panegyrics having especial refe• rence to the loyalty of those troops, and to their attachment to the banners they had so often fol lowed to victory. What the sagacity of Sir C. NAPIER did recognise, what that great man did distinctly and undeniably prophecy was—not the innate and constitutional turpitude of the Sepoys, but—the intrinsic and unconstitutional hollowness of our whole syslerh of Oriental misgovernment ! Against the folly of that system he raised his authoritative and thrilling voice—in vain— leu,.lly, eloquently, cnergstically ! Against the insanity and atrocity of our entire scheme of mal administration in Hiodostan he protested rese lately and consistently. Bit—not again t the Sepoy troops as faithlcsc=, were we warned by bin') any more than by MiLts, or by OR.IIE, er by MALCOL M ! No —the writers upon India bave almost u ninterruptedly, from first to last, for a hundred years consecutively, from 1`75 - 4 - to 18•57 1 been all of one mind about the Sepoys. Take, in simple illustration of this, two of the most p Tubr writers cf the day-11.1ACAULAY and ALISON ! Two of the mcut widely read and was known of our aunalists—the Toiy historian, and file j historian. Sir AECIIILLILD ALL ON has Written in so many words at p. 617 of the 7th volume of Liy History of Europe, that " nothing could shake the fidelity of the Indian troops !" He has there further and yet more emphatically remarked that —" Volumes might be filled with the anecdotes which have occurred during the last eighty years, illustrative of thesteady courage and incorruptible fidelity of the Sepoy troops." Thereupon he men tions one of these memorable anecdotes, dating as far back as the siege of Arcot, where the provi sions at last running very low, the Hindoo soldiers entreated their commander (ROBERT, afterwards Lord CLIVE) to allow them to boil their rice, the only food left for the whole garrison—saying " Your English soldiers can eat from our hands though we cannot from theirs ; we will allow them as their share every grain of the rice, and subsist ourselves by drinking the water in which it has been boiled !" Turning the leaf on which we read this, we find Sir ARCHIBALD upon the very next page (p. 618, vol. vii), repeating " nothing could shake their fidelity." • And immediately in further proof of this, relating another anecdote — one of later date—one referring to the year 1783, during the march of 1,500 Sepoys a distance of 500 miles to Madras. Iu spite of every tempta tion to defection proffered to them by the wily agents of TIPPOO SAHIB—ALISON writes, " Not only did they all remain true to their colours, but they swam the tanks and rivers by which they were separated from the officers during the night, bringing them all they could save from their little pittance ; ' for we,' they said, ' can live on any thing, but you require beef and mutton.' " So much for Sir ARCHIBALD ALISON. Now for the great Whig historian—his contemporary. Lord MACAULAY is not one jot less explicit in his commendation of the Sepoys as loyal and faithful soldiers of the Company. In his cele brated essay upon CLIVE, he alludes to the fidelity of the native troops repeatedly. His lordship at p. 185 of the 3rd vol. of his Essays says, in one of his terse sentences—a sentence falling like the blow of a hammer—a sort of sentence, with him almost always, by the way, " hitting the right nail upon the head"—" The troops were steady." Those troops being the Sepoy troops—and their steadiness, eliciting from the noble critic's pen not one syllable expressive of astonishment. He takes the fact as a mere matter of course—and we hardly wonder to find him doing so, after reading at an earlier page in the same volume (p. 161, vol. iii.) as follows—" A hostile Monarch may promise mountains of gold to our Sepoys on condition that they will desert the standard of the Company. The Company promises only a mode rate pension after a long service. But every Sepoy knows that the promise of the Company will be kept : he knows that if he lives a hundred years his rice and salt are as secure as the salary of the Governor-General : he knows—" et cetera, et cetera. Meaning by all this that we may rea sonably count upon the fidelity of the Sepoy sol dier. And as with MACAULAY, and' as with ALISON, so also with others. The belief—in spite of all that is now said to the contrary—was almost universal: the belief that JOHN SEPOY was staunch to the back bone ! Occasional ex plosions of rage like the bloody outbreak at Vel lum in 1806, being looked upon by the majority as events in their way quite exceptional. No—lct there be an end, if possible, for once and for all, of this strange misapprehension. Ls t us not close our eyes to the truth that this recent revolt of 80,000, or 100,000 native soldiers in the Bengai Presidency was altogether as startling as it was unprecedented. It was not foreseen. The break down of our system, our odious and insensate system of Indian Misgovernment was foreseen without doubt by many of us, clearly and distinctly—and as clearly and distinctly pre dicted ! But not this frightful and wholesale mutiny of the &Toys who had so long eaten our salt, and worn our raiment, and fingered our silver ! From this terrible and unimaginable atrocity we may now learn the immensity of the evils against which we have been. all along pro testing—the evil we aro now called upon to remedy—that of our whole scheme of Oriental Misgovernment. LATEST NEWS. AUSTRALIA. ALEXANDRIA, Nov. 23. The Australian mails will go forward per Tamar. The dates per Simi% are Sydney, Oct. 11 ; Melbourne, Oct. 16 ; Gallo, Nov. 6. An after-mail had reached with Sydney papers of the 13th. The European arrived at Melburne on the 14th Oct. Her detention is attributed to adverse winds and a failure of machinery, The reports from the goldfields were good. The escort returns equal last year's. Price of gold, 3/. 16s. 3d. for Castlemaine to 3/. 19s. 9d. for Ballarat. Th© Suffolk sailed for London on the 31 Oct. with 112,446 ounces. Exchange for draughts, 60 days, 11 premium. Trado was dull, save for Eastern produce. The markets continue overstocked, but goods were not sacrificed, and the speculation was restricted by the tightening of the money-market and the firm attitude of the banks. The Lands Bill had been thrown out in the Upper House, but the Haines Ministry had deter mined not to resign. The bill to abolish State Aid to Religion was rejected by a majority of one. The report of the select committee on railways had been adopted. Two trunk lines were to be con structed, and loans on debentures were to be raised. A license-tax of 103. per month per head had been imposed on the Chinese, three members of the Legislature only dissenting. The gold received by escort at Sydney dur ing the quarter ending the 30th of September was 35,803 ounces, against 28,252 ounces last year. Wool was firm--superior clips, is. 10d. to 2s. ld. Tallow freely supplied—prices not quite so firm. The transport Ballarat, which sailed on the 15th of Aug., reached (alle on the the 4th of November. MALTA, Nov. 27. Her Majesty's ship Urgent, with detachments from Portsmouth and Queenstown for Malta and Corfu, arrived last night. The Independance Beige says :—" Oar private correspondence from Constantinople, of tke 18th, announces that M. Thouvonel has just officially demanded, in the name of the French Govern ment, the assent of Turkey to the Ishmus of Sui z scheme. This demand has produced considerable impression on the Ottoman Ctbinet, which has immediately met to consider the project. But, in the face of the open opposition which England has made to the project of M. de Lesseps, the Ministers hesitate to pronounce upon it, and they have not yet come to any resolution." FRANCE. PARLS, MONDAY EVENING. The treasure in the Bank of France continues to increase. It exceeds 206,000,000 ; and as the bills payable to-day are very considerable—it is said above 72,000,000—the result will beto reduce the amount in the Portefeuille anti that of the circulation, and to add to the metallic reserve. A telegraphic deBpatch from Madrid, of the 29th, stat-s that the health of the Queen and the infant Prince leaves nothing to be desired. The Moniteur announces the reception by the Emperor, at a private audience, of Monsignor Sacconi, Archbishop of Nica3, apostolic nuucio, who delivered the answer of 1 is HolineSs to the letters of meal of M. Rayneval. M. Kern, the Swiss Envoy, and Minister Pleni potentiary ; Juan Francisco Martin, Minister of New Grenada ; and Lafond do Lurcy, Minister of the Republic of Cost% Rica, were received by the Emperor in private audiences. Iu the Paris corn market during the past week, very little business was •transacted. The fall in flour, which appeared gaining ground in the early part of the week, suddenly ceased, and the four marks are now quoted at 53f. the sack of 157 kilo grammes. Wheat was offered and its price tends downwards, excellent quality being sold at from 27f. to 28f. the hectolitre and a half. Some sam ples of Montereau were offered at 28f. the 120 kilo gramme. The greatest number of the country ni,rkets have arrived with a decline, prices how ever being exceedingly firm in the ports of the Me literranean and of the Atlantic, which must be attributed to the demands made for exportation. BOTTESE, Nov. 30.—The following were the last quotations : Cash. fr. End of Month. ti per Cents - —i. :3 per Cents 67 _ Bank Shires 3OOO Credit Foncier 515 Credit Mobilier 765 Roman Do. Account 760 Austrian 831 Belgiaa 4 - Fieduontesd (5) B3 some Debt RAILWAY4-11'011 CASH. tr. a. fr C. Orleans Northern ............ 9)0 -- Western 4 — New Ditto 732A— Strasburg Lyons and Mod EB 6 l— Grand Central Now Ditto... ....... 8,55 Sardinian . 4274— Geneva ............... 600 Austrian Cum. ... 6671- - PUBLIC MEETING AT EAST RETBORD TO PETITION . AGAINST THE BANK CHARTER ACT. A public meeting of those opposed to the mone tary system established by Sir Robert Peel's bills of 1819 and 1844, was held at the Town Hall, East Retford, on Saturday last, (Nov. 28) at half past three o'clock. The fact of its being market-day, though convenient for the farmers, made it nearly impossible that those engaged in trade could be present. There was, however, a highly respectable and intelligent audience including most of the principal farmers in the district. Among those present we obzerved—Mr. Councillor Wilkinson, (in the Chair); the Rev. J. Twells, (Rector of Gamston) ; Mr. Enoch Uodgkinson, Mr. F. White, Mr. Robert Baker, (Gainston) ; Mr. a J. Rogers, (Gamston) ; Dr. Timm, (Scrooby House), E. Chapman, Esq., Mr. J. Allison, Mr. George Kelk, Mr. J. White, (Babworth) ; Mr. J. C. Payne, (Ordsall) ; Mr. John Walker, (Matterseys) ; Mr. Johnson, (Blaco Hill) ; Jacob Ogle, Esq., Mr. J. Wightman, (Elksley) ; Mr. J. Lester, (Babworth) ; Mr. S. White, (South Leverton) ; the Rev. C. Lee, (Hexham) ; Rev. A. Brook, (Vicar of Kist Retford) ; the Rev. C. D. Butter field, (Rector of West Retford) ; the Rev. H. C. Mitchinson, the Rev. W. A. Piumptree, Mr. A. Liller, Mr. Bryan Clarke, (Tuxford) ; Mr Rose, Mr. Cooper, and Mr. Knight, (Eaton); Mr. Pinder, (Bellmont) ; &c., &c. On tha motion of Dr. TIsUM, seconded by Mr. G. CHAP3IAN, Mr. Councillor Wilkinson was called to the chair. The CHAIRMAN then spoke as follows :—This meeting had been convened for the purpose of con sidering the propriety of petitioning Parliament in favour of the revision of the Bank Charter. He regretted that, owing to professional engagements, the mayor was unable to preside at that meeting. Many people were unwilling to engage in any move ment respecting the monetary laws, on the plea that they did nob understand them. It must be -admitted that the question was of a difficult and complicated nature, and multifarious in its relations and influences ; but he din not consider that because a question was difficult fully to understand in all its details, that therefore it should be neglected. (Hear.) Who, for instance, understood thoroughly the physiology and pathology of the human sys tem ? if we had any disease or pain, our ignorance of the functions of the human body did not prevent us from applying to the doctor. (Hear, hear.) This is the case with the Bank Charter Act. It has twice been proved to be in a diseased condition, the main principle of the act having been suspended in 1847, and again in 1857. It was quite evident that an act twice broken cannot be maintained— (bear, hear)—and he should therefore say th It the Charter should be so altered or revised as to be tantamount to a repeal. Now that we have got free trade in corn, the restrictions and monopolies of the Bank Charter Act ought not to be retained. We ought to have free trade in money as well as in corn and other commodities. (Cheers.) He thought that it was high time the bullionist power should be placed within proper restraints, and no longer be permitted to disorganise the finances of the country and spread ruin over the land. (Cheers.) The chairman then called upon the Rev. John Twells to move the first resolution. The Rev. JOHN TWELLS, on rising, said—lt is now seven years since I had the pleasure of addres sing you in this hall on the subject of the currency. I cannot, therefore, be justly accused of obtruding myself unnecessarily on your attention ; indeed, I may rather claim the compliment paid by the French gentleman to the English traveller,—"This gen tleman apparently has a great talent for silence." Since that time events of great importance have taken place, which have excited the interest and called out the energies of the English people to an unwonted extent; and with regard to the monetary question an event has occurred, more remarkable, perhaps, than any which has happened for rainy centuries. I mean the unexpected and extraordi nary discoveries of gold in California and Australia. The gold yield of the Ural Mountains in Russia, which had in a short period increased from 2,000,000/. to 4,000,0001., had excited much speculation as to the effect to be produced by this increase of gold. In 1848 it was announced that gold had been found in California, and in 1850 the amount produced was 5,000,0001. ;in 1851, 8,000,0001. Gold was discovered in Australia also in 1851, and in 1852 no less than 9,735,9031. was exported. In 1853, 10,445,7001.; and the pro luction has continued to an undiminished extent up to the present time. It may be concluded, therefore, that the enormous amount of something like 150,000,0001. of gold has been thrown into the markets of the world by the discoveries in California and Australia. One of the first effects which we can ascertain. (and I must mention that we are greatly assisted in these in quiries by the information compiled from official sources by the Economist), is the displacement of a large portion of the silver coinage of France by gold. In the four years before 1850 the silver coined at the mint in Paris was at the rate of 3,873,000/. sterling annually, while during the same time the amount of gold coined was only at the rate of 767,0001. annually, that is the proportion of gold coined to that of silver was about one-fifth ; but the change after 1850 was most remarkable. In the six years which follow, the silver coined was only at the rate of 1,566,0001. annually. During the same period the amount of gold coined increased to the unprecedented sum of 10,820,000/. annually. In 1854 and 1855 the change was still more extraordinary, the gold coined in Paris being of the value of 36,500,0001., while that of silver was only 985,0001., that is rather more than thirty-six of gold to one of silver. The total amount of gold coined in France during the six years from 1850 to 1855 was 64,940,000/. sterlin g . During the period from 1851 to 1855, it may be ob served that gold was coined at the London Mint tt the amount of 38,254,000/. No*, under the cir- , cumstances of this extraordinaryproduction of gold, an appeal, to Parliament to alter or even to consider the reformation of the monetary syetem appeared hopeless—we were told on every side that the gold discoveries would solre the difficulties of the cur rency question, and insure the prosp , rity of the nation. The average rate of interest for money was to be, according to the Times, 3i per cent. The only difficulty was what to do with this enormous influx of gold Was the Bank to be relieved from buying it ? Should Si, notes he withdrawn from circulation ? Should the quantity of gold in the sovereign be doubled ? How were we to dispose of our great, our increasing, our superabundant me tallic wealth ? In April, 1852, the Times, after mentioning that the rate of discount for the best paper had for a considerable time ranged between and 1/ per cent., said—" The absence cf a coura geous spirit of enterprise (this is what they now call over-trading and reckless speculation'), is the penalty that has weighod down the country ever since 1847, and the old fading of healthiness (which the Times now calls the spirit of the "dashing speculator") will not be restored except by the difficulty of obtaining any return for capital in the routine channels (which it now calls "the slow profits of honest industry"), coupled with apprehensions of a possible further lowering in the interest of the public debt." The amount of gold in the Bank of England was then about 20,000,0001., the currency consequently expended the rate of interest, as was observed, under 21. per cent., and this short-sighted writer has added his mite of encouragement to stimulate the over-specu lation, which the necessary consequence of such a etato of things. (Cheers) In July, 1852, the amount of gold in the Bank rose t:3 not less than 22,042,683/. The stock of bullion being in excess of the amount of Bank notes in the hands of the public by 700,1281. In Nov. 17i tons of gold ar rived in London within a week. In July, 1853, the First Minister of the Crown, Lord Aberdeen, in his speech in the City, referred to " the bright prospects which he saw at that time throughout the whole of tie country," and spoke of its pros perity, happiness, and degree of progress as alto gether unparalleled. He (Lord Aberdeen) attri buted it to the enlightened system of financial and commercial policy of the late Sir Robert Peel . Lord John Russell spoke of free-trade "as having con duced most materially to wealth, prosperity, and comfort of the great body of the people. These. etateinents were loudly cheered by the good citizens of the City of London. In the meanwhile, as my agricultural friends around me will rememb t er, and lam most happy to think that the y have to re member, the prices of agricultural produce bad reutly improved. Wheat, iu Oct., 1803, sold at Uxbridge at 100 s. per quarter, this was, of course, of the first quality; in 1854 and 1855 it com manded from 80s. to 90s. per quarter. I find that I sold, wheat myself in 1855 at 925. per quarter. Now, during this period of prosperity I con_idered it my duty to give the whole sal jeet a careful reconsideratioi. Some of my friends legs insane on the currency question than myself began to believe that although system was a lad one the wonderful effects of the gold discoveries would interpose 'ln effectual remedy.. It is .easy to be wise after the event. I, therefore, am glad that I wrote down during this period of prosperity the deliberate convictions 'of my own mind, because I fled that I then ex pressed in the most decided possible language a conch: ion at which I had arrived that even the gold discoveries could not remedy the evils of our urvound, uuphilosophical, and most injurious mo netary system. (Cheers.) I find that I then said that " not even gold could prove a substitute for a good monetary system." " That if our gold impor tations fad, our vaunted prosperity would vailish like a d.teani ;" and " that gold w . not the Her- cules to extricate us from our difficulties." I mention these, and I might refer to scores of similar observations, not in a spirit of self-laudation, to show that the - principles which I, in common with all sound currency reformers, held of the unstable character of Peel's fair-weather money system, were firmly retained at the time when that system was supposed to be most pre eminently successful. (Hear, hear.) A change was then approaching ; as early as 1853, the drain of silver began to manifest itself. It is not nee -s -sary for my argument that I should be able fully to account for that drain. One reason undoubtedly is, that the great discoveries of gold had un settled the relation which, on the continent of Europe, previously existed between the value of gold and of silver. In France the ancient relative value of gold to silver—namely, that of one to fifteen and a fraction is retained, although in our own country and in America the relative value of the metals in the coins has been altered. Silver became, therefore, aprofitable article of com merce in relation to gold. It paid the merchant to purchase silver five franc pieces in France with gold, and to export the silver. He knew by the figures, to which I have previously referred, that this pro cess had been going on in France, and that a large portion of the 100,000,000 of silver coin, which was estimated to' constitute the silver coinage of that country, has been displaced by gold coin. Large importations of silver have been for several years past taking place to India and China. Now, to supply the place of the silver coinage which has been withdrawn from circulation, and to satisfy the large demands for silver in the East, it has become necessary to withdraw gold from this country. We find, therefore, that the continued arrivals of gold from Australia have for the two or three past years been barely sufficient to enable the Bank to retain an amount of bullion adequate to justify in supply ing the country with the necessary amount of paper circulation. At the commencement of this year it therefore became necessary to attempt to check the drain of bullion by a rise in the rate of discount. On the 3d of April the rate was iaised to 61 per cent. ; on the 18th of June it was reduced to 6 ; and on the 15th of July to 54 per cent. On the Bth Oct. it was again raised to 6 per cent. ; and on the 12th Oct. to 7 per cent. ; and the effects of the American panic—a panic principally caused by the defective monetary system of that country, where, as in England, the mistaken policy of the bullionists prevails—caused the rate to be raised, on the 19th October, to 8 per cent. ; on the 5.11 of November to 9 per cent. ; and 'on the 9th to 10 per cent., at which the highest legal rate probably ever ex toted by the creditor class frOm their debtors in this country it now remains. (Hear.) On Thurs day, November 13, the Bank Charter Act was sus pended, by a letter addressed by the Prime Minis ter and the Chancellor of the Exchequer to the Bank. We meet together to-day, therefore, under this peculiar state of things, that the Bank Charter Act is suspended, and the convertibility of the note for the time abrogated. Parliament has been un expectedly called together at a very short notice to deliberate on the steps necessary to be taken in consequence of this infringement of the law of the 'land. Now it was said in 1844, by Mr. Jones Lloyd (now Lord Overstone), who is, as you know, one of the principal promoters and supporters of Peel's monetary system, that the Bank Charter Act of 1844 "has been justly described by its author as the compliment of the Bill of 181.9, as the further step which was necessary to render that measure complete, and to give to the public every possible security for the effectual maintenance of specie payments. This is the true object of the ' measure ;- and by its efficacy or otherwise in this respect, the success or failure of the measure ought to be tested." How then stands the question with regard to the Bank Charter Act ? It was suspended by a letter from Vie Ministers n 1847. On an inquiry into the circumstances of that suspension it was decidedly condemned by a Committee of the House of Lords, and it only escaped a similar fate in the House of Commons' Committee bpi the accidental, though unavoidable absence of two members of that Com mittee. Of the 17 witnesses examined before the Committee of the House of Commons, in 1848, 13 condemned the Act, and four witnesses supported it. Among its four supporters were three direct'. re of the Bank and Mr. Samuel Jonea Lloyd. Among those who condemned it were the late Mr. Samuel Gurney, the first money-dealer .in Europe ; Mr. George Carr Glyn, the eminent London banker ; Mr. Bates, the head of the house of Baring, Brothers, and Co. ; and Mr. Birkbeck, the re cognised representative of the country bankers of England. At this time Lord Ashburton (formerly Mr. Alexander Baring), a far higher financial authority than Lord Overstone can presume to be considered, pronounced, as his judgment,. that the Bank Charter Act " was a great experiment which had signally failed." (Hear, hear.) But it is con demned by more important evidence than any yet cited. It is condemned by the fact, it is condeamed in the very test which Lord Overstone propounded, namely, its efficacy in giving to the public "every possible security for the effectual maintenance of cash payments." What was the state of the Bank of England on the 23d of October, 1847, as to the effectual maintenance of cash payments I It was this : LIABILITIES._ Notes issued. Deduct held by the Bank itself ... ROYAL PBISCES3'S THEATRK Shakspeare's tragedy of Richard 11. was reproduced last night to a crowded and etithu , iastic audience, with the same scenic completeness and accuracy of detail that marked its revival last season. Mr. C. Kean's taste, knowledge, and ability, have given to the public a transcript from history, and thus afforded an entertain ment of the highest order of intellectual gratification. The sympathies were again excited, and the eye bewil dered by the massive splendour placed before them. The church bells again sounded their merry peal through. out that matchless " Episode" representing the streets of old London, with its vast caneourse of people forming the most illusive and most truthful effect that was ever witnessed upon a stage. The charsc'or of King Richard was sustained by Mr. C. Keae, aed is without doubt one of the finest impersonations of this great actor— one which he has evidently stadied with a-. much care as the decorative ornaments that fum the gorgeous frame. work cf the picture. The nfleotive passages were most beautifelly delivered, and the buss's of passion as truth like as they were effective. Mrs. C. Kean appeared as Richard's Queen, and threw so much feeling and refined tenderness into this comparatively trivial part as to render it apparently more important than it really is. ivlr. Ryder acted liogbroke with coaLly bearing and vigorous earnestness. The public aro deeply indebted to Mr. C. Kean for these magnificent Shakesperian revivals. LAUNCH OF THE LEVIATHAN. , SUN OFFICE, 3 O'CLOCK (Tins Diy.) Mr. Brunel and his assistants have been busily employed all this morning in repairing the accident of yesterday, and by to-morrow morning will resume operations, which they tiuitt will be completely successful in finally hunChing the " big ship," and thereby relieve a very univer sal anxiety for the safety of this newest wonder of the world. I .rT, ARLIANIENTARY REWARDS FOR THE HEROES OF DELHI AND LLICKNOW.—We have reason to believe that early in the ensuing Parliamentary se:avian the Goverurnent intend to propose an annual grant of 1,000/, to Maj General Sir Henry Havelock, Bart., K.C.8., as a re ward for his recent military services in India. At the same time an annual grant from 1,500/. to 2,0001., we are informed, will be proposed for Major General Sir Archdale Wilson, Bart K.C.8., the gerieral command. ing at the storming and capture of Delhi, for hie ser• vices on that occasion. Of course these grants are irre sptctivu of any pecuoisry rewards those gallant olicerB may receive from the East India Company. Vice-Chancellor Sir William Page Wood, Kt., late M.P. fur the city of Oxford, delivered a lecture to his old constituents in the Town-hall of that city on Friday evening last, on "Truth and itti Counterfeits." The suspen-ion has been announced of lklessr4. Henry Hoffmann and Ca., genera merchants. Their liabil:tes are estimated at anent 100,0001, and their embarrass ments are at.ributed to the fell in the produce riarket, and the failures whieb have occurryd &sough( re. CATTLE Fit , 23l THE NORTH OF EUROPE.—The impor tatioos of cattle from the north of Europe ceased on Saturday for the sewan. The imports thii week alillAtiitiA to 155 bea. , ..ti aid 321 stiola Thu total receipts during tha faataon have c , inpriJed abut 7,000 beasts and 8,000 she-p and Jaralai. In a postscript to a nuireq.ntile lst'or from Madras, dated the 24th of ;her, it ie stated -a" This nail oaaveys if tha King of vvi:o was shot by a seritry in :labile:l , 6l,g to escape ; the capture of Nal.a Sahib ; and the announcement of ano tiler victory over Ihe rebels ra:ar Agra." The first two, however, were probably false reports, as the Bombay ne vs centain.4na reference to them. THE GALLANT LIEUTENANT ALHELD.—A member of Lhe family of this gallant soldier coznyltins of a para graph which appeared in a contemporary. lie says : Thu paragraph alludes to lva) events ir. Lieut. Lie—his lint esca.po from Delos ;Lad the part be took in the assault, but it appears to convey the impression af Lheir being oily one affair, arid the reeult is an ane.ar toico exaggeiation or inireuresentai,ion, which mutt ; le e puiLfut to iritt.d,c The stattaleut of his utter stttataun is also ermaeouF." • STATE OF SOUTH STAitiORDSRIBE. In conPeqnerice of the stoppage of the Wolverhamp ton and Stntford 'hire Bank, :several of the shopkeepers and small inanufacturerP, who had deposits or balances in the concern heretofore Avai'able for carrying on their businesF, have Seen compelled to close their doors, and a great many more are making arrangements to take the benefit of the Insolvent Act. In a week or two it is expected that great distress will prevail in the town in consequence of the number of hands that will bo thrown out of employment. In this district there are at least two dt,z.in furnaces blown out, and this number will be doubled before the week is over. Thy f,liooing iron and coal masters are gradually nancing their establishmocts : TM) Cailington Company, Wolverhampton.-300 men discharged. Lcrd Ward, Dudley.---Several furnaces stopped, coal pits closed, and men noticed that their wages would be reduced by 20 per cent. Mr. B.advr, Dadley.—Two or three furnaces blown out. Mr. Haden, Dixon's Green, Dudley, is putting out his furnaosx- _ Woodall a►nd Smith, Windmill End, noar Dudley, are putting out their furnaces. Mr. Cochrane, Dudley, has discharged about 100 men within the last month. _ _ _ Mr. S. Blackwell.—Notice to men of a reduction of 20 per cent. on their wages, and that others will be put on short time. British Iron Works.—Three furnaces blown out. Mr. Jones, near Walsall.—Tbree furnaces blown out, and 11 pita stopped within the last three weeks. Hatherton Furnaces.—Two about to be e xtinguished. Mr. F. C. Perry. —O ne furnace stopped at Ringhead. Morris and Son, Tipton.—Stopped payment on Wed nesday last. W orks expecte d to c l ose . 113 e, Iliggins and Rose.—All works out. NPith rega r d to the affairs of the Wol verham p ton and Stuffordshi re B anking Compan y, it rosy be that Mr. Sparrow, one of th e l arges t s hareholders in the bank, went carefully through the assets on Thur sda y and Fri days, and is of opinion that the bills in hand will realise 10,0001. more than was anticipated by the directors in their report. Nothing with accuracy is known when the bank will re-open. --- ---------7--------T LLOYD'a :31EFFIN(3.---Crbis Day.) LONDON, Lo u -,.. I . _ w ind t hth day at noon, light brcezo and hazy. OFF MOUNT'S BAY, Nov. 29.—Arrived—Stadt Ali from M ex i co f or B rem en; lon, from Qucbcc fur QuEENsTow N Chatham, short of provisions. Arrived—Kath leen, from Prince Edward's Island• Wind S.---Sailed— EAST HARTLEPOOL, Nov. 29 . -- Atananne, for Gibraltar. , Nov. 29.—Wind E.— PLynounr, Nov. 30----"Wi od E.N.E.—Arrived 11*'ati" 8011, fr...rn Loniloo, nod ,aiWl for I [oll4rt Town; S c Ain, from airzenlitlii for Hill. S. E. ; rraf.Aliy City of New York, from New York. Ba s ta , i ‘ l i c a d . —peli..auo, fur G:atioa ; Agatha, and Maria, for urENSTOW, Nov. 29. Arrived—Eve rgreen Devon, a. , d Olive, from Quebec ; Othello, from Alexandria. (BY SUBMARINE AND BRITISHTELFDRAPII.) GEANSEND, I.llt,EdA.y, 30 a.m. Wind S.E. ; tide 1 Lon= g .econt . flooa ; weather cloudy. —Omar fo • Sydiley • Fearless, Bung Evetrie Flash, Pasha, MAL, Dee. 1, 9 a.m. Wind S.S.W., moderate. PasEed—Cathniu e Elizabeth, from St. Kitt's, for London. Sailed— Don, fur Shields. .221,865,445 1,547,270 -- -220,318,175 Publio Deposits Other deposits Seven day and other bills . . 4,766,394 8,580,509 947,013 ASSETS. In the issue department — Go Id coin and bullion Silver bullion 1,120,091 54,612,0 n 7,865,445 In the banking department — Gold and silver coin 447,246 —._— 8,31',691 Balance which the Bank could not pay in gold or silver; 26,299,400 On the 11th Nov. 1857, the day before the sus pension, the state of the Bank of England was th7s— Notes issued £21,141,065 Deduct held by the Bank itself 957,71 0£20,183,355 Public deposits Other dermits Seven day and otter bills 5,314;F59 12,935,344 $53,075 39,236,433 ASSETS. In the issue department— Coll coin and bullion 6,666,065 In the banking department-- Gold and silver coin 0)1,443 7 170 508 Balance which the Bank could not pay in gold or silver ... - You 50 , ., then. not only from the argitments which have been use', but from the facts and figures, that this fair-weather measure, the Bank Charter Act, - has, on two separate occasions--when its true object, " the effectual maintenance of specie payments," has been teste t has most com pletely and most disgracefully failed. (Loud cheers.) You. cannot possibly convert the enormous indebtedness of th;s great nation into gold. The convertibility of the note at a fixed rate has been demonstrated to be a mere political fiction. But there is another, and a novel aspect, under which this question has recently been presented to the public. The Times, the organ of the bullionist party, charges the whole of the people of England with dishonesty. "Any man," it says, "who comes under an engagement to pay a certain sum on a certain given day pledges himself to deliver so ma n y sovereiguq. No doubt," it says, " bad not the Government lett er been r ap wo peared 2ol. to on would have th to the general panic which T 3o ll l u . risedraycemnotney owing would have been created," while we are subse quently told " the hard calculator sees the time at hand when the gold he has prudently reserved will be worth 15 ptr cent. The Government steps in to frustrate the results of his patient enquiry and re fl ect i on ." This ,is the true way of putting the case. Lord Overstone said in 1844, that the t e r t t ua p l e " e m l a d i e u c t l e a r r i e a d u cLo t f . s o p hj ec e i c e t p o a f y t m he en b t i s ll . was si t r he ß n o ff b e 4l panicsl objects s h adwaosectourrperdeiv'nell tBt2hse, r o e n i e iet o i f t o its PfrisnuceihP 1837, and 1839, and preserve us from commercial depression and ruin. But in 1857, the long worn rnaskisat length thrown off and the usurer stands revealed in the face of day. (Loud cheers). It is not the maintenance of specie payments alone, but such a maintenance of specie payments as may com mand an usurious rate o finterest which they n may oly so, r but equireth (Hear,e "bard calculator , "atid che )w. e are r nd "to Itgar not expected that ho should be ablealso buy told, silk, t all Sorts of articles atttvasti reduction." A ricl But his expec`ations h ave been disappointed, " thanks to Government." The producer (he say-) ought as a matter of course to be sacrificed to the consutner. Put the ca9e.of the farmer. A farmer in prosperous times commonly makes the land bis bank. Whatever capital he can by persevering in dustry, and the results of " patient inquiry and re- Ilection," accumulate he inves t s iu the improve ment ( f his land in bettor management, better cultivation of the soil and improvement of his stock, and he naturally expects it willsecure to him the quiet possession of ch© fruits t,f his industry. But how nihtaken, is his calculation. the . man re ba, calcs I:Yen ano therut at work --this is T " er hard " fie has improved his acquaintance with Peel's bill, and cultivated an acquaintance with the opera tions of the money market. A monetary crisis co mes. Gold goes out of the country, the bank ....••••••• .10•1=0*.M. raises its discount and reduces its circulation, and the prices of all things are depreciated. And thus the farmer is deprived for years of the fair remune ration for all his industry, and of the intere st of the • capital which he has invested in his land. The same thing applies to the manufacturer, for he has en dies building new mills, enlarging his works, exP his trade and employing more hands. Peel's bill pats a stop to all this ; and when the farmer and the manufacturer are suffering, and all the country with them, and Government, at the eleventh hour, seeps in to save the country from utter ruin, th e , usurer complains that prices are.not suffered to felt still lower, that he (the consumer) is defrauded 01 wheat at 30s. a quarter ; and all other things in pro ( eat. according to his calculation. portion, and that he cannot get his 201. o;30 1 . pe r r (Applau se) there among there writers in the Times one word o h heartfelt regret, any relenting for all the an g nis and privations the broken fortunes and the b roken hearts, which this Bank Charter Act is at this En° ment causing ? Do they say anything of the tress and poverty of the people, thrown by thousands and tens of thousands out of work without an)" fault of their own 7 Have they shown:the lead feeliug of commiseration for the workieg-inen bY whose humble firesides suffering, poverth tion, and starvation, are taking up their winterg abode ? No ! "Isit so nominated in the bond I . Is there one feeling of pity for the victims of this w hole iniquitous system ? No, not one. The tenor of their writing is—Perish the Peop l e ° of England ! but let;the "hard calculator' O'er his 15 per cent. (Loud and continued cheering`) How very far different is the feeling of an excelle n t and attached friend of mine—Mr. John Taylor, 0 ' destita: London, whose calculations have always been an for others and not for himself, and who has for MY long years been the disinterested advocate of thi! unpopular, but great question. In a paper will"' I received from him this morning he o we s the question between the producer and consu r ner.in 6 remarkably lucid point of view. He says" " °beer ness has been cried up as a blessing to the labourer' yet it is difficult to conceive how an one coolie think that the labourer would be benefitted by lot prices. A moment's reflection would have servedt to undeceive him. A poor man produces (say) five times as much as he consumes ; a rich In a " consumes (say) five times as much as he p r odueet Low prices, therefore, are in favour of the lieu' consumer as five to one, and high prices are in favour of the poor producer as five to one. Th ese numbers are used by way of illustration; it ie it! material what the real proportions are • , every one who lives by his labour, every one who p ro • more than he consumes is benefitted by high P r Tte more than by low. Every one who lives on property, every one who consume. more than by produces is benefitted by low prices more tban be high. Yet there are many persons professing to friends of the labourer who gravely trY his persuade him that low prices are forbe especial advantage. Having forced down. P r . ice° th j e the Currency Acts of 1819 and 18 44 , they wis b h, e to people to believe that low prices are prefer a we high prices." This seems to put the question eery tween the producer and the consume r in a ! p i a . clear point of view. With regard to over-slr e e o f tion when there was an extraordiriary by gold to the Bank, the English people were tol the bullionist organ that they we re afraid tolaTe7 out into a courageous spirit of enterpr ise ;€ weeer they do so launch out, they are accused ot speculation. The Acts of which we complain e° ever pel the Bank of England to petrel:lase gold, ho w b e , large the amount of it in their coffers g ere When they had 20,000,0001. of gold theY ni obliged to give their notes in exchange for any amount of gold that might be brought to thoeo The effect of this, is three the circulating me al ,d being largely increased, money made plentiful) a", the rate of interest reduced to 1i or 2 per eerv„; the greatest temptation is held out to peop le to ; 1 ; 3 gage in various kinds of speculation , because, no "routine system of buliness" then produee'ede, adequate remuneration. Now the Times ter nounces this " courageous spirit of °no prise." Let it not be supposed , h owever, t the virtuous indigna'ion which the orga n of, till. bullionist party so vehemently h urls a g ainst conducted banks and insolvent m erchants arts e" solely from the wish to condemn such miscondeo S ' It was because the drain of bullion to Scotland Nvel the last straw which broke the back of bullionisni that our friends of the Times go into such a rage. And how many have failed at this period, against, whom the slightest imputation, even of want O pru dence, cannot be justly brought, and who have fallen victims to this pernicious system of currency Do you suppose that such a firm as Naylor, Vieker a and Co., of Sheffield,Sheffield,wile ) even now, in the midst of depreciation and ruin, are able to produce ass' of more than a quarter of . a million of money be yond their liabilities, would have failed under o f sound monetary system ' ? • Take, again, [ the eas e Dennistoun and Co., who failed the other dal: We see that they are already m e ki n g arrangenl ee : to pay 20s. in the pound. (Hear, hear.) ° c are remarkable instances, and the-Times is can niq enough to make these exceptions to the i r rule 0 0 : condemnation of the unfortunate victims of the in°, tary system by which many others of equal honess4 but lessextensive resources, have be en ruined. I f i L, cow go to the remedy we have to propois, evhiert.7 embodied in the petition which I have the WO!, to submit for your consideration. [Mr. TIOLI here real the petition, which we give 0'1" Tue currency question as it now stands, m a y . 4 compressed in very narrow limits. The great polue of difference between the currency reformera 101 the bullionist is—shall the bank note be . converteie into bullion at a fixed rate, or shall it beconvertel into bullion at the market price of the ( 13 1, Peel's bill has three phases when gold flows in, great abundance from any cause whatever, tbl Bank is obliged to increase its note circulation speculation is encouraged and fostered. This id the first phase. At the time when bullion floeis into the country, as it has latterly done from Atir tralia, but at the same time there is a considerabl e d ain of bullion, an equable currency is:maintainecli The Acts of 1819 and 1844, then become a letter, and the country enjoy s a sound and healthy trade. This is the second phase. But when fro a re any cause bullion is. exported more largely dhan 4 is imported, the currency is contracted, prices . lowered, and you are subjected to a state of. de pression, pression, suffering, and ruin. This is the tu"_" 2. • phase. Now, , I believe that this state. _tt. things would be entirely remedied by w of is here proposed—viz., the establishment a legal tender paper money,. And experience hail shown that about 20,000,000 of this would be stlu?• cient as a basis for our domestic circulation. This Would setena he withdrawn from the country. It business whether gold left paper money would not be subject hoare or nation to go on with its just rate of int:irest, and we should be free from the country or not. It would preserve a tair auci these often recurring periods of ruin and panic , What you want is security for your trade, and that the commercial and agricultural interests of the country may rest on afirm basis. And this can be secured by an adequate and unfluctuating circula ting medium, which, under any circumstances 01 export of bullion, you may be able to retain at home for domestic purposes. !DAS state of things is to be maintained by the proposed remedy. But I kne.vr a great deal will be said by giving up the p rinciple he cow of convertibility. It has been pro ved to demonstra tion on the occasions of 1847 and 1857 that t s vertibility of the bank note u n der the p r item l n nt el t _e" tern is a mere financial fiction. It is a sysee w hich you can always conv ert the' bank note inw gold except at the tune when everybody IWdlite to do so. But the system which we propose in our petition is one by which we can alivays convert the bank note into gold and silver at their market price and into everything else. If I want gold or silver to send abroador to melt down to make watches or jewel" lery, I could, under the proposed system, .go to the,. 'link and convert them into bullion at the mark" price of the day. I have, after all, no wish dogmatise in this difficult question,' bat I believe that this is the only convertibility which, unee.del; the existing circumstances of the n ation, is ei bit d attainable or desirable. (Hear.) Sir, it was by the first Lord Liverpool that a purely motorail's, that currency had this inherent defect, at being co . 7 ee.sed of an article which was als o a coramodith was liable to fluctuations in valu e. California a nil is Australia show bow possible a g reat 'fluctuation .0. the value of the material of a m etallic currency I under a domestic circulated medium of paper much would be done as possihle to render th e is 1 : y ; haircut defect. The currency of paper, whicn eeri propose, would, it is believed, do more than a metallic currency to retain a fair equitable p.t. chasing power. Sir, I am quite aware that question of the monetary system is a most moment° one and that nothing should be done without 41 deliberation. In addressing you on this occal-wue I have endeavoured to place the object which t b e have in view, namely, currency reform, 1° ) clearest light that I could. (Hear, 1; 0 Let, I would say, that system of curr ency established which shall promote the greatest pal' piness of the greatest number of my fellow-countrf; wen. But there is a powerful party against us. will require every energetic exertion on your pa rt, ye even though this system now stands self - c ondo:a : before the *country to effect the least po ssible refer mation. Yet I cannot but think tha t comeor sense and common justice will at last Una:o'n and that this rich man's bill, by which the rich 4 7_ wade richer and the poor made po orer, will not 127 suffered much longer to encumber our statute boa, (Applause.) Had I not beli eved that truth, an, important truth—that justice and most imp arts feted on the contest, o r, having enterede on it, justice were on our side—l should never have 0., `Z ‘V