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

ANATANZAS AND SABANILLA RAIL• INJL ROAD SEVEN PER CENT. BONDS. —The Half•yearly Interest on the above Bonds, (Ito on the 15th inst., will be paid at the Counting-house of Messrs. T. Henry Schroder and Co., 145, Lcadenhall-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 bad 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 WEBER NIGHT. M. JULLIEN has the honour to announce that, in cause qnence of the great number of persons unable to obtain admis sion during the last performance of the " Indian Quadrille," Le 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 1. 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 Trail's, and M. Edouard Remenyi. THIS EVENING (TUESDAY, December Ist), will be produced the New Grand Descriptive Composition, by M. Jullien, entitled THE INDIAN QUADRILLE, and GENERAL HAV ELOCK'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 Fnsilier 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 pianiste, Miss Ara bella% Goddard, and the Hungarian artiste, M. Edouard Re inenyi, 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 wreat , 's 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 E.aiperor Napoleon 111, at Stuttgart, and who were engaged, at a great expense, for the express purpose of arranging at her Majesty's Theatre a display which will be seen for the first ti ne 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 been so freely ac corded to him. The Concert will commence at 8 o'clock. Prices of Admission—Promenade, is ; Upper Roxes, Is. ; Gallery, ls. ; Dress Circle, 2s. 6d.; Private Boxes, 10s. rid. and upwards. Prospectuses, with full particulars, may be had at the Box office of the Theatre ; of all the principal libraries ; and at Jullien 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. rnis EVENING, to commence at Seven o'clock, with a new Comedy, entitled AN UNEQUAL MATCH. Princi pal characters by Messrs. Buckstone, Compton, Chippendale, W. Farren, Miss Amy Scdgwick, 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. Bnckstone will sustain an original chiracter. Concluding with TIIE FISH OUT OF WATER. 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 5 0 Dress Boxes 3 0 Upper Boxes . 3 0I Upper Boxes 2 ö Pit Lower Gallery 1 0 Lower Gallery 0 6 Upper Gallery 0 ti No half-price to Upper Gallery. R OY AL PRINCESS'S THEATRE. Proprietor, Mr. Charles Kean. THIS EVENING, will be performed Sliakspere'g Tra,7,cdy of KING RICHARD 11. King Richard 11., by Mr. Chas. Kean ; Queen, by Mrs. C. Kean. Preceded by a new farce, in one act, entitled A CASE OF CONSCIENCE. T HEATRE ROYAL, AD EL PHI, Lessee—Mr. Ben. Webster. THIS EVENING, will be performed THE MIDDY ASHORE. Miss Marie Wilton. After which, a new romattic 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, entiCed THE DRAPERY QUESTION '• or, Who's for India I Messrs. Wright, P. Bedford, C. Selby; Miss M. Wilton and Miss Wary Keeley. ROYAL LYCEUM THEATRE.—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 Pyne, Miss Marian Prescott, Mr. Weiss, Mr. A. St. Albyn, Mr. G. Honey, Ifr. Wallworth, and Mr. W. Harrison. Conductor, Mr. Alfred Mellon. To conclude with the new Farce, entitled A PAIR OF PIGEONS. Mr. G. Honey and Miss Cuthbert. Private Boxes, £2 12s. 6d., £2 25., and £1 lls. 6d. ; Stalls, 6s. ; Dress Circle, ss. ; Upper Boxes, 4s. ; Pit, 25.; Gallery, ls.—The Box Office is now open daily, from 11 to 5, under the direction of Mr. Chatterton, jun. ROYAL OLYMPIC THEATRE. Lessees. Messrs. Robson and Emden. THIS EVENING, will be performed a new and original ec.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. Brough, Esq., called MASANIELLO. Messrs. Rob son, Cooke, Danvers, dre. ; Misses Swanborongb, Thirlwall, Hughes, Bromley, and Mrs. Melfont. Commence at half-past Seven. L o OYAL SURREY THEATRE, Lessens, Messrs. Shepherd and Creswick. THIS EVENING, will be performed THE WIFE'S RE VENGE. After which, INDIA, 1857. Messrs. Shepherd, Ores• wick, W. Smith, Vollaire, B. Potter, Widdicomb, Delmore, Tapping ; Miss M. Eburtic, Miss Webster, Miss Chalmers, Miss Johnstone. To conclude with WELLINGTON FIGGS. CANTERBURY HALL, Westuainster-road.— OPEN EVERY EVENING.—The follow- Tr; company of Vocalists are engaged for the performance of elections from all the popular OPERAS, MADRIGALS, CHORUSES, GLEES, DUETS, clic., viz.:—Miss Russell, Mrs. Badzey, Madlle. Marietta, Mrs. Paimyre, Miss Bru nell, and Madame Marietta; Herr F. Jonghmans, Mr. Henshaw, R. Grover, T. Firrant, S. Tones, J. Barker, W. Melling, Senor Antonio, E. L. Hime, and Mr. St. Albyn; Messrs. S. Collins, W. T. Critch(ield, and E. Mack ney. Pianoforte, Mr. Cecil Hicks; harmonium, Master Williams; Director, Herr F. Jonghmans. Commence at Seven o'clock precisely. Suppers, dic., until twelve o'clock. HIGH WATER AT LONDON BRIDGE. MIS DAY—Morn., 1 min. aft. I—Even., 24 min aft. 1 TO-MORROW —Morn., 49 min. aft. I—Even. 13 min. aft. 2 THE WE OTHER—SIIN OFFICE, DECEMBER 1. THERMOMETER, IN THE SUEDE. 45—highest since noon yesterday. 45—lowest this morning and during the night. 52 --this day at noon. BAROMETER, 29.88—falling. WIND, S.S.W. to S.W. ; light, with mild dull weather. 4 fa ; st 44t t„I VVIK 4j AY LONDON, TES DAY, DEC. 1, 1857. Sam 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 inbahitants deplored the evils to which they had recently been exposed from the baleful operation of The Bank Charter Act, and almost unanimously called upon the Government for its repeal, or modification. Although these gentlemen did not go to th e f u l l extent we d have desired, in impeaching the equally injurious Act of 1819, it is satisfactory to find a spirit of inquiry excit and a disposition to question the authoritative dicta thundered forth from Printing-house.„qu Aro by the organ 'of " the hard calculators." y These dictatorial assertions will no longer b e ta k en on trust, If every description of credit is to be anni hilated, the faith iu the currency quacks will aho be destroyed. Truth must ba benefited by discussion. A strict, searching, unprejudiced, and disinterested investi gation is all we desire, and we earnoAly hope t hat all the Chambers of Commerce throughout the. entire country will hold meetings, so that the real feelings and wishes of the people wa y be clearly ascertained. We believe that there would be an overwhelming majority against the obnoxiotr law and in favour of free trade in money, or more properly speaking, in_currency, so great, that its speedy abolition would be ensured. It has, until 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 JOHN 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 ; ho went to 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 enly to some few points, it is not because the others are less worthy of attention, but that time and space prevent the possibility of looking to all. Mr. TWELLS' brilliant, and what is still better ,his truthful —and, we do not Mean to intrude on the functions of Punch by perpe trating a play on words), his sterling address, must be carefully read in extenso, to be duly ap- predated. 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 A 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 " hard c.dculators," and who considered that they had a right to prey upon industry, by transferring the property of less wary men to 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 PEACUUM 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 the event has happened. Rather an old truth it must be ad mitted, but one just now well worth repeating and bearing in our remembrance. Eighty thousand Sepoys revolt suddenly in f . 1857 in the Bengal Presidency alone ; perhaps , altogether the aggregate number of mutineers 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 plinesi. 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 I saw clearly from the a ery 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 one word of appropriate comment ; and that one word—hum bug I From first to last the self-graaulations 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 ! 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 for 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 !nis i 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_o. NAPIER, during the course of hiS Slliiefrious - 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 dil distinctly and undeniably prophecy was—not the innate and constitutional turpitude of the Sepoys, but—the intrinsic and unconstitutional hollowness of our whole system of Oriental misgovernment ! Against the folly of that system he raised his authoritative and thrilling voice—in trait ton fly, eloquently, energetically ! Against the insanity and atrocity of our entire scheme of in, '- administration in Hindustan he prot42sted ra:c !lately and consistently. But—not ag dust the Sepoy troops as faithless, wero we warned by him, any more than by Mfla,s, or by Onmn, or by 111aLcorze ! No—the writers upan India have almost uninterruptedly, from first to last, for a hundred years consecutively, from 1757 to 1837, been all of one mind about the Sepys. Take, in simple illustration of this, two of the most popular w r it ers of the day—MAIULAY Pad ALISON ! Two of the most widely read and via:- known of our annalists the Tory historian, and the Whig historian. Sir ARCHIBALD ALISON has written in so many words at p. 617 of the 7th volume of hii Hifitory of Europe, that " nothing could shake the fidelity of the Indian troops ' He has there further and yet more emphatically remarked that --c g 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 OLIVE) 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 rico, 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. In spite of every tempta tion to defection proffered to them by the wily agents of Trproo 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 CLITE, 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 sente.lces—a emtence 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. Bat every Sepoy knows that the promise of the Company wilt be kept : he knows that if he lives a hundred years his rica 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• lore in 1806, being looked upon by the majority as events in their way gaits exceptional. No—let there be an end, if possible, for once and - for all, of this strange misapprehension. Let 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 Sepoys 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 pre testing—the evil we are now called upon to ramedy—that of our whole scheme of Oriental Misgovernment. THE SIJN, LONDON, TZESDA Y EVENING, pECE,',AII3EII 1, 18:17. LATEST ! NEWS. AUSTRALIA. ALEXANDRIA, Nov. 23. The Australian mails will go forward per Tamar. The dates per Simla are Syd ne y, O c t. 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. Hei 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.s3d. for Castlemaine to 31. 19s. 9d. for Ballarat. The Suffolk sailed for London on the 3d Oct. with 112,446 ounces. Exchange for draughts, 60 days, 1i premium. Trade was dull, save for Eastern produce. The markets continue overstocked, but goods were not sacrificed, and the speculation was restzicted 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 28.1. d. Tallow freely supplied—prices not quite so firm. The 'transport Ballarat, which sailed on the 15th of Aug., reached Galle 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 Our private correspondence from Constantinople, of tke 18th, announces that M. Thouvenel has just officially demanded, in the name of the French Govern ment, the assent of Turkey to the Ishmus of Suez scheme. • This demand has produced considerable impression on the Ottoman Cabinet, 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 Lessepq, the Ministers hesitate to pronounce upon it, and they have not yet come to any resolution." FRANCE. PARIS, 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 Portefettille and that of the circulation, and to add to the metallic reserve. A telegraphic despatch from Madrid, of the 29th, states 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 Saccoui, Archbishop of NiCa3 apostolic nuncio, who delivered the answer of t is Holiness to the letters of recal of M. Rayneval. M. Kern, the Swiss Envoy, and Minister Pleni potentiary j 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. In the Paris corn market during the past week, very little business was transacted. The fall in flour, which appeared gaining giound in the early part of the week, suddenly ceased, and the' four marks are now quoted at 53f. the sack of 157 kilo gt whines. Wheat was offered and its price tends downwards, excellent quality being sold at from 27f. to 28f. the hectolitre awl a half. Some sam ples of Montereau were offered at 28f. the 120 kilo gramme. The greatest number of the country , markets have arrived with a decline, prices how ever being exceedingly firm in the ports of the Meliterranean and of the Atlantic, which must be attributed to the demands made for exportation. BOURSE, Nov. 30.—The following were the last quotations : Cash. fr. End of Month. 44 per Cents - -c. 3 per Cents 67 25 Bank Shares ......... 30 00 Credit Foncier 535 Credit Mobilier 765 ---- Rom an Do. Account 760 Austrian Belgian 44 96d— Spanish Tureeo — Fieumontese (5) ...... 88 Home Debt ROYAL PRILWESS'S THEATRE. Shakspeare's tragedy of Richard 11. was reproduced last night 'to z, cro sded and enthusiastic 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 throng 12- 011 t that. matchless "Episode" representing the streets of old London, with its vast concourse of people forming the most illusive and most truthful effect that was ever witnessed upon a stage. The character of King Richard was sustained by Mr. C. Kean, and is with o ut doubt one of the finest impersonations of this great actor— one which he has evidently studied with as much care as the decorative ornaments that form the gorgeous frame• work of the picture.. The reflective passages were most beautifully delivered, and the bursts of passion a.s4ktrath like as they were effective. Mrs. C. Kean appeared A 9 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. Mr. Ryder acted Bolingbroke with manly bearing and vigorous earnestness. The public are deeply indebted to Mr. C. Kean for these magnificent Shakesperian revivals. LAUNCH OF THE LEVIATHAN. SUN OFFICE, 3 o'CLocz (This DAY.) 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 trust will be completely successful in finally launching the " big ship," and thereby relieve a very univer sal anxiety for the Eafety of this newest wonder of the world. PARLIAMENTARY REWARDS FOE THE HEROES OF DELHI AND LUCKNOW.—We have reason to 'believe that early in the ensuing Parliamentary session the Government :atend to propo7 , e an anneal grant of 1,000/. to Maj r General Sir Hatay Havel( Ik, Bart., K.C.8., as a re ward for his _nt milt .ry services in India. At the same time al armlet'. grant from 1,503/, to 2,000/., we kee lel(); wed, will 3 propeeci for Major General Sir Archdale Wilsoe, Bart., K.C.8., the general eatemand ieg at the storming end cap:.ire of Delhi, for his ser• v'tcea on that occz lion. Of cout.te three grants are irre spective of any pecuniary rewr....els those gallant officers may raceive from the Eest India Company. Vice-Chancellor Sir William Page Wood, Kt., late M.P. for the city of Oxford, lelivered a lecture to his old constituents in the Town - hall of that city on Friday evening last, on "Truth are its Counterfeits." The enspewion he . been announced of Meesre. Henry Hoffmann and Co., generel merchants. Their liabilites ate estimated at about 100,0001, a - id their embarraes mcete rre atle:but Ito t '1 'n the produce markets, and the fa;lures which have occurred elsewhere. CATTLE FROM THE NORTH OF EUROPE.—The impor• tatiot - .s of cattle from the north of Europe ceased on Saturday for the seaer. The impel is this week aineunted to 155 bra--ti and 321 sheep. The total receipts during the set - . on have comprised about 7,000 heave and 8,000 eh. p and lambs. In a postscript to a mercantile letter from Madras, dated the 24th of October, it ie stated—" This ma il conveys int .;"igence of the death of the Kin:: of Delhi, who was shot by a sentry io attempting to' e:eape ; the capture of Nana Sebib ; and the renouncement of one thtr victory over the rebels r.ear Agra." Tho first two, however, were probably false reports, as the Bombay no vs contains no reference to them. - THE GALLANT LIEUTENANT SALKELD, —A member of the family of this gallant soldier compleins of a para graph which appeared in a contemporary. lie says : The paragraph alludes to two events in Lieut. Salkel i's life—his Feet escape from Delhi nud the part ee took in the assault, but it appears to convey the impression of their being oely one icfair, and the result is au appear t Ica of exaggeration or it: irepresentaa:on, wl.ich must t epe'nful to his friend'. The statement of his utter deetitutien is also erroneous." RAILWAYS--NOll CASH. tr. C. tr C. Orleans Northern ............ 9:•3 •- - Western i — New Ditto 7324— Strasburg Lyons and Med ...... 866 1 Grand Central New Ditto... ....... 8 55 Sardinian ,.. 4274 — Geneva 630 Autrian Com. SRetrEORDSTIIRE STATE OF SOUTH In consequence of the stoppage of the Wolverhamp ton and Staffordshire Bank, several of the shopkeepers and small manufacturers, who had deposits or balances in the concern heretofore available for carrying on their business, have been compiled to close their doors, and a great many mom 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 be thrown out of employment. In this district there are at least two dozen furnaces brown ont, and this number will be doubled before the week is over. The following iron and coal masters are gradually reducing their establishments : The Chillington Company, Welverhampton.- 300 men discharged. Lord Ward, Dadley.—Several furnaces stopped, coal pits closed, and men noticed that their wages would be reduced by 20 per cent. Mr. Badger, Dudley.—Two or three furnaces blown out. Mr. Haden, Dixon'e Green, Dudley, is putting out his furnace... Woodall and Smith, Windmill End, near 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 blowl out, and 11 pits stopped w ithi n th e last three weeks. Hatherton Furnace;.—Two about to b e extinguished. Mr. F. Morris and S on , Tipton.—Stopped payment ow Wed nesday last. Works expected to close. gliead. C. Perry.—One furnace stopp ed at Rin Rose, Higgins, and Rose.—All works out. With regard t o o the affiirs of the Wolverhampton and Stoffordshrze Banking Company, it may be that Mr. Sparrow, one of the largest sbarebolders in the bank, went carefully thr oug h th e asse ts on Thursday and Fri days, and is of ()Pinion that the bills in hand will realise 10,0001. more than was anticipated Ly the directors in their report. Nothi ng w ith ac curacy is known when the bank will re-open. LLOYD'S SNIPPING•--{mss Day.) OFF MOUNT'S' B ..-0.-- - LONDON, Dac. I.—Wi n d this day A noon, S.E. ; light breeze and hazy.AY, burg, from Mexico for Bremen ; lon, from Quebec for Chatham, short of provisions. QUEENSTONVN, Nov, 29,—Wind 8.--Arrived—Kath leen, from Prince Edward's Island. __. 1 --Sailed— EAsT HARTLEPOOL, Nov. 29, -- w riv... —.- Nov. 29.—Arrived—Stadt Alden- Manaune, fur Gibraltar. E.N PLYmoUrn, Nov. a 1 --)Viud Huat,h , ..r BA, from L on d on , an d sailed for Hobart Town ; Scotia, from Mirami c hi f or H u ll. .E.—Arrived— (PEE ELECTRIC! T2LEGRAPFL) L IVERP OOL, Tuesday Morning. —..--- _ S,iled—PelLano, f or G anoa ; Agatha, Wind S. Arrived—City of N ew Y or k, from New Y ork. Bat a,v ia. QUEENSTOWN, Nov. 29. Arrived—Evergree n , D evon , an d Olive, from Q uebec ; Othello, from Alexandria. a nd Maria, for (BY SUBMARINE AND BRITISH TELEGRAPII.) Electric Flash, Wind S.E. • tide second how's flood' weather cloudy. Sailed—On:tar Pasha, for Sydney; Fearless, Hong Kong; Jersey. Dec.' Dec. 1, 9 ~~• GRAVESEND. 'Tuesday, 9 30 a.m. Wind her moderate. St. Kitt's' for Passe l—Cine Eli za botb, from London. Sailed— Don, for Shields. PUBLIC MEETING AT EAST R,t;TFORD TO PETITIOY 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 observed—Mr. Councillor Wilkinson, (in the Chair); the Rev. J. Twells, (Rector of Gamston) ; Mr. Enoch Hodgkinson, Mr. F. White, Mr. Robert Baker, (Gamston) ; Mr. R. 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, Mr. J. Wightman, (Elksley) ; Mr. J. Lester, (Babworth) ; Mr. S. White, (South Leverton) ; the Rev. C. Lee, (Hexham) ; Rev. A. Brook, (Vicar of East Retford) ; the Rev. C. D. Butter field, (Rector of West Retford) ; the Rev. H. C. Mitchinson, the Rev. W. A. Plumptree, Mr. A. Liller, Mr. Bryan Clarke, (Tuxford) ; Mr Rose, Mr. Cooper, and Mr. Knight, (Elton); Mr. Pinder, (Bellrnont) ; &c., &c. On the motion of Dr. Tfsum, seconded by Mr. G. CHAPMAN, 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 not 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 did not consider that because a question was difficult fully to understand in all its details, that therefore it should be neglected. (Hear.) VV Who, for instance, understood thoroughly the physiology and pathology of the human vs - - 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— (hear, hear)—and he should therefore say that 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 laud. (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 eine° 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, J. may rather claim the complitn.ent paid by the French gentleman to the English traveller,—"This gen tleman apparently has a great t dent fur 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 many centuries. I mean the unexpected and extraordi- nary rEscoveries of gold in California and Australia. The gold yield of the Ural Mountains in Russia, which had it' a short period i ucreased 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 production 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 3,873,0001. 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 10,820,0001. annually. 1n 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 mot e 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 64,940,0001. sterling. During the period from 1851 to 1855, it may be ob served that gold was coined at the London Mint to the amount of 38,254,000/. Now, under the cir cumstances of this extraordinary production of gold, an appeal to Parliament to alter or even to consider the reformation of the monetary system appeared hopeless--;-we were told on every side that the gold discoveries would solve the difficulties of the cur rency question, and insure the prosperity of the nation. The aver age 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 Bauk to be relieved from buying it Y Should Si, notes be withdrawn from circulation 1 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 bad for a considerable time ranged between 1i and 11 per cent., said—" . The absence of a coura geous spirit of enterprise (this is what they now call over -trading and reckless speculation'), is the penalty that has weighed down the country ever since 1847, and the old f ee li ng of healthiness (which the Times now calls the spirit of the "clashing speculator") wilt not be restored except by the difficulty of obtaining any retu rn f or capital in the routine channels (which it now calls "the slow profits of honest industry"), coup l e d w ith 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 state of things. (Cheers) In July, 1852, the amount of gold iul the Bank rose to not less than 22,042,6831. , The Stock - Tor bullion being in excess of the amount of 'Bela notes in the hands of the public by 700,128/. In Nov. 17i tons of gold ar rived in London within a week. I n J u l y , 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 t .e country," and spoke of its pros perity, happiness, and degree eif 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 statements were l ou dly c h e e re d by the good citizens of the City of London. In the meanwhile, as my agricultural friends around me will remember, and I am most happy to think that they have it to re member, the prices of agricultural produce bad reatly improved. Wheat, in Oct., 1853, sold at Uxbrid g e at 100 s. per quarter, this was , of course, of the first quality; in 1854 and 1855 it com mended. from 80e. to 903. per quarter. I find that I sold wheat myself in 1855 at 02s, per quarter. Now, during this period of prosperity I considered it my duty to give the whole subject a careful reconsideration. Some of my friends leis mane on the currency question than myself began to believe that although Peel's system was a bad one the wonderful effects of the gold discoveries would interpose an effectual remedy. It is eisy to be wise after the event. I, therefore, am glad that I wrote dows_ during tits period of prosperity the deliberate convictions of ti,y own mind, because I find that I then ex pressed in the most decided possible language a conchs=iou at which I had arrived that even the gold discoveries could not remedy the evils of our unsound, unphilosophical, and most injurious mo netary system. (Cheers.) I find that I then said that "not even gold could prove a substitute for a geed monetary system." " That if our gold impor. tations fail, our vaunted prosperity. would vanish like a di eam ;" and " that gold was not the Her ctilcs 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. (He ir, hear.) A change was then approaching ; as early as 1853, the drain of silver began to manifest itself. It is not neces 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, a'profitable 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 th 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 ra;sed. to 6 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 sth of November to 9 per cent. ; and on the 9th to 10 per cent., at which the highest legal rate probably ever ex icted 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 Overstono), 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 1819, 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 lett(r from tl.e Minister: n 1817. 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 by the accidental, though unavoidable absqnce 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 directors of the Bank and Mr. Samuel Jones 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, prouounce3, 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 fant„ it is comiciintied in the very test Ns hich Lord 0 verstone 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 ? It was this : LIABILITIES. Notes issued Deduct held by the Bank itself ... 1,547,270 -- —£20,318,175 Public Deposits Other deposits ,. 8,580,509 Seven day and othor bills ASSETS. 34,612,091 In The issue department — Gold coin and bullion Silver bullion l, 120,091 - 7,865,445 In the banking department Gold and silver coin 447,246 8,312,691 Balance which the Bank could not pay in gold or silveri 26,299,400 On the 11th Nov. 1857, the day before the sus pension, the state of the Bank of England was this— LIABILITIES. Notes issued £21,141,065 Deduct held by tho Bank itself 957,710 Public deposits Other deposits Seven day and other bills ----- £20,183,355 5,3L4,(59 12,935,344 853,075 39,280,433 ASSETS. In the issue department Gold coin and bullion 6,C50,065 In the banking department— Gold and silver coin 5)1,443 - 7,170,108 Balance which the Bank could not pay in gold or silver You see, then, not only from the arguments which have been used, but froth 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'emt has most com pletely and most disgracefully failed. (Loud cheers.) You cannot possibly convert the enormous indebtedness of this great nation into gold. The convertibility of the mate 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 bulliouist 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 plecbies himself to deliver so many sovereign.. No doubt," it says, " had not the Government letter appeared on Thursday money would have been worth 201. to 301. rer cent. owing to the general panic which would have been created," while we are subse quently told " the hard calculator sees the time at hand where the gold he has prudently reserved will be worth 15 per cent. The Government steps in to frustrate the results of his patient enquiry and reflection." This is the true way of putting the case. Lord Overstone said in 1844, that the object of the bill was the effectual maintenance of specie payments, Sir Robert Peel declared that one of its principal objects was to prevent the repetition of such panics as had occurred in 1825, 1837, and 1839, and preserve us from commercial depression and ruin. But in 1857, the long worn mask is at length thrown off and the usurer stae 1 (Loud cheers). It is revealed in the face of day. not the maintenance of specie payments but such a maintenance of specie pay m ents as may com mand an usurious rate of interest which they may require. and che ers ). A n d no t only so, lint the (ea, ie lard " calculat or ," we are told, expected that he should be able also "to b buy silk, ;eel all sorts o f ar vast ticles at a reduction." But his expectations have been sugar, disappointed, isippoiuted " thanks to Government." The producer (he says) ought as a matter of course to be sacrificed to the consumer. Put the case of the farmer. A farmer in prosferous tittles commonly makes the land his bank. Whatever capital he can by persevering in dustry, and the results of " patient inquiry and re flection," zecutnulate he invests in the improve ment cf his land in better management, better cultivation of the sell and improvement of his stock, and he naturally exrects it w insecure tohitn the quiet possession of the fruits of his industry. But how mistaken is his calculation. Tuere has been ano ther man at work ;—this is the " hard calculator." He has improved his acquaintance with Peel's bill, and cultivated au acquaintance with the opera tions of the money market. A monetary crisis comes. Gold goes out of the country, the bank 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 relieve ration for all his industry, and of the interest of the capital which he has invested in his land. The same thing applies to the manufacturer, for he has been building new mills, enlarging his works, expending his trade and employing more hands. Peel's bill puts 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, steps in to save the country from utter ruin, the usurer complains that prices are not suffered to fall still lower, that he (the consumer) is defrauded of wheat at 30e. a quarter, and all other things in pro portion, and that he cannot get his 201. or 301. per cent. according to his calculation. (Applause..) Ig there among these writers in the Times one word of heartfelt regret, any relenting for all the anguish and privations, the broken fortunes and the broken hearts, which this Bank Charter Act is at this wee merit causing ? Do they say anything of the dis tress and poverty of the people, thrown by thousands and tens of thousands out of work without any fault of their own ? Have they shown the least feeling of commiseration for the working-men bY whose humble firesides suffering, poverty, destitu tion, and starvation, are taking up their winters abode ? No ! "Isit so nominated in the bond?" Is there one feeling of pity for the victims of this iniquitous system ? No, not one. The whole tenor of their writing is—Perish the people of England ! but letthe bard calculator" grasp his 15 per cent. (Loud and continued cheering.) How very far different is the feeling of an excellent and attached friend of mine—Mr. John Taylor, Of London, whose calculations have always been for others and not for himself, and who has for maul long years been the disinterested advocate of this unpopular, but great question. In a paper which I received from him this morning he places the question between the producer and consumer in a remarkably lucid point of view. -He says, "Oh eaP ness has been cried up as a blessing to the labourer ; yet it is difficult to conceive how any one could think that the labourer would be benefitted by low prices. A moment's reflection - would have served to undeceive him. A poor „man produces OW five times as much as he consumes ; a rich man consumes (say) five times as much as he produces. Low prices, therefore, are in favour of the rich consumer as five to one, and high prices are in favour of the poor producer as five to one. These numbers are used by way of illustration ; it is im material what the real proportions are ; every one who lives by his labour, every one who produces snore than he consumes is benefitted by high prices more than by low. Every one who lives on his property, every one who consumes more than he produces is benefitted by low prices more than bY kigh. Yet there are many persons professing to be friends of the labourer who gravely try to persuade hirer that low prices are for his especial advantage. Having forced down prices bi the Currency Acts of 1819 and 1844, -they wish the people to believe that low prices are preferable t° high prices." This seems to put the question be tween the producer and the consumer in a ve i l' clear point of view. With regard to over-specula; tion : when there was an extraordinary influx by gold to the Ba n k, th e E ng li s h peop l e we re told the bullionist organ that th e y w e r e a f ra id to laun ch out into a courageous spirit of enterprise e . wh en they do so launch out, they a re acc used of ever speculation. The Acts of which we complain cog' pel the Bank of England to p urc h ase go ld, howe ver large the amount of it in th e i r coffers may b e. When they had 20,000,0001. of gold they we re obliged to give their notes in exchange for any amount of gold that might be brought to them' The effect of this, is that the circulating me dia l • being largely increased, money made plentiful , an the rate of interest reduced to 1i or 2 per cent' the greatest temptation is held out to people to elk" gage in various kinds of speculation, because the "routine system of business" then produced no adequate remuneration. Now the Times de nounces this " courageous spirit of enter prise." Let it nut be supposed, however, - alat' the virtuous indignation which the organ of the bullionist party so vehemently hurls against ill conducted banks and insolvent merchants arises solely from the wish to condemn such misconduct. It was because the drain of bullion to Scotland was r the last straw which broke the back of bullionisna 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 of prudence, cannot be justly brought, and who have fallen victims to this pernicious system of currency. Do you suppose that such a firm as Naylor, Vickers and Co., of Sheffield, who, even now, in the midst of depreciation and ruin, are able to produce assets of more than a quarter of a million of money be yond their liabilities, would have failed under a sound monetary system ? Take, again, the case of Dennistoun and Co., who failed the other day. We Gee that they arc already reeking arrangemen" to pay 20s. in the pound. (Hear, hear.) The se are remarkable instances, and the Times is cunning, enough to make these exceptions to their rule of condemnation of the unfortunate victims of the ;none tary system by which many others of equal honesty!. but lessextensive resources, have been ruined. 'I wiLl now go to the remedy we have to propose, which is embodied in the petition which I have the honour to submit for your consideration. [Mr. Tway, - here read the petition, which we g ive below.se The currency question as it now stands, may . 13 0 . compressed in very narrow limits. The greaepoil of difference between the currency reformers c; an the bullionist is—shall the bank note be conterte into bullion at a fixed rate, or shall it be conver ted into bullion at the market price of the' da y Peel's bill has three phases when gold flows in, .1 11 great ßank i a s b o u b n l i d g a e n d c e t f o iroorresesenyrtscraioutsee e w ir li eu a l t a e t v i e oT r n : .a t a h s id e s speculation is encouraged. andwfohsetnereb fostered. flows the first phase. At the time into t ra li a t , 11 b e uctoautu the try, same a s it timeh as therelatterlyisd o a ne from. considerable.A ua drain of bullion, a dead The Acts of 1819 and 1844, then become au equable currency is.maintamed. trade.letter, and This th i e s country th e sopyhsasae.sour and healthy eool e id nj any cause bullion is exported more largely . th es an ar i e t is imported, the currency is contracted, pric lowered, and you are subjected to is h o i a state of third dired pression, suffering, and ruin. wha .s phase. Now, I believe t hat this state ni.f alines would be entirely re medied by , is here proposed=-viz., the establishment herOL 1 a legal tender paper money. And ex p erience shown that about 20,000,000 of this would be s uf n • cieut as a b (sis for domestic circulation. This paper money would not be subjec t t to be hoarded or withdrawn from the country. It would enable the gold left nation to go on with its business whether the country or not. It would preserve a fair and s be free from ofj t r i i i s e t se ra o te tten iriterest, and recurring periods ruin and panic. What you want is security for y our trade, and that we ofh ldou the commercial and agricultural interests of the country may rest on a firm basis. And this can be secured by an adequate and unfluctuating circula ting medium, which, under any circumstances of export of bullion, you may be able to retain aehoneo for domestic purposes. This state of things is to be maintained by the proposed remedy. But I know a great deal will be said by giving up the pri nci p le of convertibility. It has been proved to demonstra tion on the occasions of 1847 and 1857 that the con vertibility of the back note under the present sy_e tem is a mere financial fiction. It is a - syetenl.nb": which you can always conve rt. the bank note w to se In o u r gold except at the time whe n ever y bod y [we p t' do so. But the systena_whic ( r We prop° . 0 petition is one by which we can always convert the bank note into gold and silv er at their market p rice and into everything else. - If I want koldnr silver to send abroad or to melt down to make watches cr jewel lery, I could, under the proposed system, go to the Bank and convert them into bullion at the market price of the day. I have, after all, no wish to dogmatise in this difficult question, but I believe that this is the only convertibility which, wider the existing circumstances of the nation, is either attainable or desirable. (Hear.) Sir, it was said _ by the first Lord Liverpool that a purely.me tal" currency had this inherent defect, that being coal: posed of an article which was also a coearnoditY, was liable to fluctuations in' value. California anda Australia show how possible a great the value of the material of a metallic curreneyr is Vneler a domestic circulated medium bf PaP. . this paper, whit much would be done as possible to render fitictu i. a : co h n vi -i in herent defect. The currency of propose, would, it is believed, do more.th., T o u r . a metallic currency to retain a fair that th e chasing power. Sir, I am quite aware ra00 ,...,, question without ou equitable p one, and that nothing should be done c _ eon , deliberation. In addressing you on this oc ese , I have e ndeavoured. to place the object Wel l ," have in view, namely, currency reform, ita _, s „" .) (dearest light that I could. (Hear, "'ew e ,' Let, I would say, that system of currency established which shall promote the greatest 11,11 rt.. piness of the greet 'at number of my fellow-e0113_: men. But there is a pow( rful party against us will require every energetic exertion on your pp even though this system now stands self-tendsler;.. before the country to effect the least possible x 1 . `,„ illation. Yet I cannot but think that co.neaTV.'; cerise and common justice will at last tri.te. and that this rich man's bill, by which the.r.inillablve wade richer and the poor made poorer, will , ° oo k. suffered much longer to encumber our statute ava (Applause.) Had I not believed that truth s rtia iru ertant truth—that justice and most 10311',, co . justice were on our side—l should ne ver . tored on the contest, or, hav in g entered o