The Liverpool Standard and General Commercial Advertiser. — Liverpool, Merseyside, England, 1847-08-10 00:00:00

Avg. 10, 1817. . a . ert:= Wilanteb. THE TEA TRADE. WANTED, a N0U ..... N . „ 5 ,41426rT5 5 who understands his Business. Apply to Hows and COMPANY, 2, Bold-street, Liverpool. ANTED, a stem. Tobacco T r ade . character ; o Apply to WILLIAU PARefST, 111, London-road r..-tive YOUNG MAN, of ccustomed to the Grocery or HOUSE WANTED. THE Advertiser wishes to RENT a HOU 1 for a small Family, within the suburbs of Live bear to all Omnibus rout. The i hbourlmod of ;and a detached Residence be preferred, but I indispensable. Rent to exceed .C,O per Annur - Apply by letter, to V It C., Box 0 1 SE, suitable ither ar Postoffice, Liverpool A LADY, Niish irous of imprc stance 111"ucation, wishes to enter a nut-it/y.IJ, wnere t e f„„ e „,.,_ i_llir_uctitilr„.4.nitga — fie considered as equiva- •ill jovelt7n and required. prepaid,) A. 8., care of Mrs HIGHAM AGERMAN PROTESTANT LADY, educated in Paris, wishes to meet with a SITUATION as RESIDENT Or DAy GOVERNESS, either in town or country, in a Noble- Man or Gentleman's Familys Besides the usual brauehtTef a solid Education, she teaches German, French, the art of Singing, and the Piano-forte. References of the highest respectability can be given-. Address by letter, to W. Z., at the Standard-offise. TO PARENTS AND GUARDIANS A CLERGYMAN of the Established Chureb,residing _LA_ in a Continental I of Lon don, where French Is spoken, and the Lan guage acquired with facility, is desi of meeting with a few PUPILS, without rest ricti . o age. To theseintended for . the Church; Army, mercial pursuits, the Advertiser can offer peculiar advantages. Terms moderate. Unexceptionable references will be given. Appl v erpoo (by lettE post paid) to E. J. 8., Standard-office, Li- WANTED, for a National School, in the environs of Liverpool, a_§CHO9I,II..USTER and SCHOOLMIS- TRESS. be qualif. Gramma structior Wire djaktorrriiits for uation t :o initruertlie Children in t ,in addition - to the custc of a'g'atior A fair remuneration will be given, en 4-4110-4:, a desirable•and a comfortable one. • Address, X Y Z., Standard-office, Liverpool. wilL be TO CARPENTERS, &c. rilflßGuardians of the West Derby Union are desirous of CONTRACTING r the S Yof COFFINS Interment of Paupers, for suing Twelve Months The'shes may be as i don application t before T " Cler WILLIAM Ch PA TY,T(I 6 AND 7 Vic., cAP. 65.—Messrs Nicoll, Court Tail Regent -street and Cornhill, London, have the hon spectfully to announce that MESSRS. DAWBAR 80N, of 110, Bold-street, Liverpool, will cont !nts for that town, and will have the exclu this fashionable Coat. Messrs. Nicoll can nue to be their sole cneerrudy recommend tills lishment to any of their p a t rons res idi ng i n i ts n ourhood who may re quire,Th with the Paletot C s, e ith er D ress or F roc k, ronsers, Waistcoats, & , lESSRS. DAWBARN AND bON being constantl upplied from London wit' improvement in t e and fashion, and morn as the -.one pritfciples of b u si ness f or w hi c h th e i r own arm is now well known are maintained by Messrs. Paw barn, viz., very moderate prices, combined with every ex cellence of material for prompt cash payments. 'Messrs. N. are well aware that there are some fashions which have so little of the enduring principle in them that they sel dom survive the fluctuations of a single season; others, which from their intrinsic merit, acquire a firm footing in public esteem and enjoy a more extensive vogue in pro portion as they become known to the public. To the bit ter order the Paletot has an undoubted claim, as by its unassuming, yet gentlemanly appearance may be ascr the co ns t ant patronage of H. R.. 11. Prince Albert, Prince ''' ; ` l cre, His Grace the Duke of Wellington, tie9rge of ( and the bar.' Prie-re-o4f"i and a half • TS of the senate, the pulpit, and )t, rich silk lining, two guineas unty weighing a few ounces, oneguinea street, Liverpool. g 'aletot D'Ete, 110, Bold- unatm r. Oct for the. County of Monmouth, on URICRET.—On Friday and Sate, was played between the first eleve the second eleven of the Cambrian, when the score was as follows :—Cambrian 34, Everton 71. In 'the second innings four of the Cambrian scored nine, when they gave up he match, the Everton consequently winning in "9 h d. The Everton being only a club newly lye acquitted themselves very•well. • -A numb males and females, were ay eveninzs a match r of the . Everton and one innir formed, and all , t of one 1 of them tilers who refused were el Rushton remal the poor in Ire go havin4 is free FOUR, TREET, '.tart'. CILS, le Lead 1. each, sold at Crayon recom- Dozen. ick, and of r letters of Arts, , 1847. towney, asant to richness AN." actured recom )ur and k, and, )er of beggar erday br to gao. that the been not mentally a green light on usual self-coloured light, a Companies objecting to the relative brilliancy of the ugh light was made yesterday eveni one supplied by the other. _ d BOAT ght before 3 s. In the p a sum of 2s. 9d. Sev ,risties, various ird bow, i orne of the Steam Packet ;cment, a trial of the low used, and The green light wert • zlarsfield ghts, t 1 r , u g u t appeared far more distant, and equally ___ .... bue lights were placed in a line; the green Indee • Indeed, it was totally condemned by a great number of captains and others connected in will be highly less distinct. maratime affairs present. . HER MAJESTY'S VISIT TO THE ISLE OF MAN.-It gratifying those who our lo I veiy Queen,, to and with it to enjoy a delightful - exclusion, to learn that one of the Isle of vion.' to v Man Company's steamers will leave here on Saturday evening next, when she will, doubtless, be accompanied by hundreds desirous of testifying their loyalty, —more particularly as the tom- Pall Y have made arrangements - for another of their•power ful boats to leave with the royalsquadron. The Queen is to tou t 1- ~ on her way from the Menai Straits to Scotland, at the Island, on Sunda7 night or Monday morning, —so ness men, .o ly one day will be lost. As-this '''o• upoi Thich a crowned head was ever she of the Isle of Man, u,-- marine hat, to Is the fi r s cue' known to tan sio n , upon h the inm we ai column, that, notwithstandi the attraction, the f cah;ri _ ?f_ great ;; wi,ll interest tt ngs upon the occasion, and _spectators from Liverpool. 3 perceive, by tt isement in ano tne paramount nature ( remain as usual, 7s. Gd. forth 38. for the decl Y Or OWNER WHEN S —sit the police-court, yestercla ecama. James Ihm Goss who was evidently in bad health, appeared before Mr. Rushton to claim a balance of wages which he alleged•to he due to him by Mr. James Baker, one of the ownersof the schooner " Science." The ap plicant stated tbatlae had been engaged as chief mate of the vessel in a voyage hence to Constantinople and back, which he had performed, the• vessel having arrived here about five weeks ago. He admitted that ' he bad been ill the voyage home, a bale of im,• which disabled him from I from the erects of which he still he was not one O t ;sel, owed 1 left, the tra m f i saidall to kno penses at t ..,xact conformity with it, under direction • At about a quarter to ten o'clock, the g r t*n, the red, and natural coloured played on the Cheshire shore het , — remont, when th - all e resu !en Sea- ;id. and he wish must I whether, if he had rea,- - had to pay the \N -ant had been 21 /nontlas, the owners N 5, It fined -there for twelve 1 --- I .e cost, cre sn own that tli, _ discharged by the captain on the ‘. Rushton said the discharge showed that 1,,- 4 expenses, even made was justifiable. With respect to the .-questh,.. , owners were by law liable for all hospital was not the if prolonged, when the illness of the t ker then agreed fault of the sufferer. In such a case Pa he y owners must make the.best bargain they could. Mr. Ba . to• pay the balance due, £8 45., and the partlea withdrew THE WEAVUER AND THE CROPSTRIO e gene lln. aPPearance of the crop 14001).—In an article elsewhere we have notice e d - tn . t warm weather Nrl.ce our last publication, the fine, firY, sowewhat broken e had previously experienced has beet cessantly, s throughout h country. to it d !'P. On Thursday it rained to the ld not amount to a flood, so that no injury accniedc___g winds Lta"ing corn worthy of notice, especially as drying rather a almost in or in successcorlensPed• On Saturday night a gale, with flying show": s qualls, from the north-west, set t nd s f u ty. similar weatlse, and continued nearly though= which it triod o S was exPerienced yesterday as fine. sanded by these downfalls Harvest •ated, and the da uon the whole w sus and were of f or d some y P to some degree course , t to any serious extent. of the heavy wheats sad oats, now about read y morning, after a . e kle, were lodged, but of wheat already in the stook, heavy both in straw r ‘ t V h e e ha lc y e se e n Should the remainder of this week prove fine, several fine will be busily at work, The temperature dn was rather cold, so that there was no clanger °. it sritti., even where fully ripe. The In _ l5 'eat) A 1 after Y aced the turnips, mange.s, a tl 11. other green crops, all of which look well, boi 'e a inend Cheshirly speaking, indeed, rb. One e. Generale late p o t atoes for the most part ~ ve seen one field of them at Liscard, Goldsmith, of superior growth, and e --, nee of dise a s e ; an d we ar application 4EIGHBOIJR- t e °, ir : P 1 1 41 ' he witi,Pl.?Pert the cont ,_ THE NATIONAL ANTI-GOLD-LAW LEAGUE (From the North British Mail.) Glasgow, 7th August . _ We briefly mentioned yesterday the meeting of the Anti-Gold League —a name which must not be supposed to imply that its members are in any way opposed to gold in its proper place. The league, which is enrolling many members, and acquiring considerable influence, is merely an association for what may be termed a radical reform of the currency. It does not stop with the repeal of the acts of 1844 and 1845, but reverts to that of 1819, with a view to a complete change of the principles that were then adopted. We insert to-day a full report of the pro ceedinzs. There is not the slightest doubt that the law of 1819 was passed 'without a proper knowledge of its tendencies by men who were thoroughly ignorant of the subject on which they legislated, or if some ideas of its character and purpose strayed accidentally into the minds of. the Beetians, by whom it was made law, they thought them selves secured by the corn and provision duties, and threw this sop to the money interest. The people were forgotten between the two parties, or remembered only in the way, and for the purposes, that a bee-keeper re collects his hives in autumn. We fully agree ,y of the statements made by the gentleman who addressed the League. Over-pro duction and over-population are unmeaning terms, unless as the consequen - ce . of bad conduct or b - ad legislation. Fixed prices of anything whatever, or a fixed currency, are statesmen's follies. They never can be accomplished, and every attempt• to realize them must be attended by severe suffering to the productive classes. In this country they have led to those panics and hurricanes in the com mercial world that have ruined prudent traders, and re duced thousands of families to beggary, and often to crime. 'When we speak of touching the law of 1819, we are told that it was a great settlement, which should not be perilled. It was a great settlement; but so, also, was the law of 1815, and the law of 1827, relating to corn. There is nothing naturally more sacred in money than in corn. The latter, in reality, is more valuable than the former. We only want money in order + -.11 buy Pnrn anti nflinv. no •e for its work .ere is ample food at p: vat grievance .eceived used to quote wer of Glaszow,— Lst be definite been att S mon- Iu ction but .dance of of fact, a m ent for ti: LULIUTIS are supported by grievance carrnerer be - established without a g have nothing wi medy sought m disease; but men 'seldom seek remedies until they feel disease. The people of this country are not a nation of hypochondriachs in their public character. They are not politically nervous, and will not seek change for its own sake. But the present currency laws are condemned. They are working the utmost evil everywhere ; and the fashion of the times is not for doing things by halves. We shall therefore be back onlBl9 in course of two years. It may take two years. but 18 49 5'. 411 neciirpahr ening a crowded meeting wa held in lecture from Jonathan. Dun Isaac Buchanan, I ho, on t I the words O'Connell ,piilicable to the v Low you not and ought to b, ment of the peoi. (Great cheering.) O'Connell failed in hi. -ise of hislailurE Duncan's enthusiasm and eloquence. would be, except for the decided move- themselves towards currency reform. We must, however, bear in mind that gitation, and endeavour to avoid Hear, and cheers.) O'Connell's the object A , currency I too indefinit of for Britisl: er the amount of - native indust it leers.) pound intrinsic valu; strnetive of native industry. (Continued cheering.) Sup pose the intrinsic value of a hat were 20 shillings, or 5 dwts. of gold,'and that a tax of 50 per cent. were imposed on hats. Then the manufacturer, to retain his position, would be entitled to 30 shillings, or 71 dwts. for his hat ; and this increased price he would get, if all foreign com petition were prohibited. (Cheers.) But admit an un taxed foreigner into our market, whose hats are in all respects equal in quality to those of the native produce, that is to say, possess equal intrinsic value. The foreigner could sell his hats for twenty shillings, or 5 dwts. of gold, while the Englishman would require 50 per cent more, since he owes 10s. ' or 21 dwts. of gold, as a tax to the go vernment. Sir Robert Peel tells us to buy in the cheapest market ; now, in this case the foreign article would be the cheapest ; we therefore should buy it ; the native producer must therefore abandon his trade, unless he carried it on by losing 10s. on every hat he sold, and in that view he must ultimately be driven into the Gazette. This illustration applies to every commodity which fo reigners can produce ; and the general rule to be deduced is, that free trade cannot be carried on between two coun tries unequally taxed in a legal tender money which only expresses intrinsic value, and does not express price. Am I than a protectionist? Far from it. Do I oppose free trade The very reverse. (Cheers.) But I hold to consistenci and insist on the same free-trade in the commodity of goi as I could wish to enforce in respect to every other cor modify. I therefore propose to adapt our mone tem so as to render perfect free trade usef u l, whil is now altogether changed, I same tit we to native industry that measure of piot; tion to which it is entitled, precisely because we raise o revenue by taxing those articles of consumption on whi wed to be legal tender, conve e same nominal value at which they were o: cl by the Government. Now, let the foreigt atition, as in the case pld ; he sells his hats manufacturer enter into free compE assumed. He requires 5 dwts. of gc in opposition to the Englishmen, who require 3 foreigner will receive three taxation notes at 10s. E and thus obtain nominally 305., but when be goes to a bullion broker to purchase the commodity, gold with these notes, he will only receive 5 dwts. of gold, instead of 71 ion as well as each of these for these notes will express tai Estimated in silver notes would only be worth 6s. Sd mestic money they would circulate at the nominal val of 10s. each, because out of every 10s., 3s. 4d. would 1 due to taxation. (Cheers.) Let me put the subject in lihough in our i another torn exists, the int equal-to one ounce o Suppose that under the system which now )f a given quantity of wheat was insic val or nearly £4 of our curren id that through indirect taxation, Or monopoly, or any other act of our government or our own society, that given quantity of wheat should rise in our markets to £6, let us see how the foreigner would gain at our expense. He would get six paper pounds, for each of which the Bank of England would be compelled to give five dwts. of gold ; if, therefore, he exchanged the whole of his notes for gold 'be would receive 30 dwts., or one ounce and a half of gold for that given quantity of corn, which by the hypothesis was only worth one ounce • it is clear, then, that by such a trade as this we should be giving to the fore while we only received from him four; so that, by such a ner six, tern of trade we are 1 Jinni foreign transactions, and the more we extend that - commerce the greater is our loss. (Loud cheers.) I will now point out the causes of those panics and stagnations which are of pe riodical recurrence, and which will continue to return in r cycles until our monetary system is reformed. ank of England, and all other banks of issue, being compelled to redeem their notes in gold at a fixed price. .re compelled to retract their issue of paper whe 'aloe of gold rises abroad above our mint price, comes a lucrative coma dency to export manife, Lodity for export. ts itself, discount take up their_ outs. acceptances, thro nd the supply su eelling the de the. evel of I: all price makes bankrupts of tl gilled to 1 their tron , gest firms close their mills and discharge - their workmen, which, of coarse aggravates pauperism. Under such circumstances distrust and suspicion universally prevail: all confidence between man and man is lost, so that the effects of the system are not less.disastrous than the pecuniary. (Cheersl The sun shines as brightly as ever —our sinews have not lost their vigour —our brains can still exercise their wonted intelligence—in fact, nothing lias hap pene d b ut the ab straction of a fe w t ons o f a foreign metal, of which we have made ourselves the slaves, instead of being its masters. (Applause.) But this abstraction deranges all our operations, and spreads ruin and dismay among all our marts of commerce, and thus ive are made to feel the full extent of our infatuation. We have parted with the instrument by which we can distribute commodities and i the foreig pay our t Cheers.) We must Zet it back at any to restore the pri vileged metal by lowering the price of all our goods pro duced by native industry ; this being done, trade tempo- we nn rarily revives, if that deserves the name of revival which merely lifts us up from selling below cost price to something that approaches to intrinsic value ; but the instant that prices begin to r above intrinsic value, tion, t foreigner so as to embody a share of tax, , repeats his operation, and takes away our gold, and kept cheap by act of parliament, having on our hands • those commodities which are struggling to rise in price up to the level of taxation, so that the producer may recover from the consumer those customs and excise which he has already advanced to the government. Thus we are perpetually exposed to cycles of industrial prostra tion and commercial embarrassment, because we fabricate our legal tender out of a commodity ever liable to be ab stracted by foreigners as an article of merchandize, in which we not simply lose a commodity, but lose our money. We have in circulation about 220 millions of provisionary notes and bills of exchange ; these repose on the narrow basis of an inverted pyramid of gold ; shake the basis, the whole superstructure tumbles to the ground. (Cheers.) In 1797, Mr. Pitt releaSed the Bank of Eng land from its liability to redeem its notes in gold, and those notes were now declared to be a legal tender. To sub sidize our foreign alies and pay our armies in the Peninsula we were compelled to purchase gold ; Napoleon also was purchaser;a hence this commodity ix it required a pound note and eight ;hilling a guinea. This was the appreciation a c the the depreciation of the bank note paper, merely obeyed the law of to 14 to purc H. gold, r ties rose. TI would only purchase 13 that rate the fund-holder lent his T but in 1819, the whole debt' of £1 Our object, there we must go for the al r, eal of the causes of the degradation of the working es, iz., Sir R. Peel's Currency Bill of 1819. (Great :ng.) Nothing but this will effect the end in view, which is to allow gold to rise and fall according to the principle of supply and demand. Sir Robert Peel has fixed the price of gold, but no man can fix or make sta 'lle value of the gold, and when from its scarcity -cased the only way this can be exnresspd ti classes. tionary t the value is it the rate of interest, and a fall in the pr operty, not excepting the poor man (Great applause.) Such is the I quence of Sir Robert Peel's restrictions o f th e currency, I by which, .as his own father declared in 1819, he dmihipa th. v.hip of 3 of every other property,_ labo conse- a monopoly to the monied class. evil is only beginning to be felt experiena But the principal The evil hitherto on of wages, but we ;uperadded so serious a t he (Mr. Buchanan) ex- has been - a reduct are now about to have I reduction of e nt called together two nhintl iserribling by the country. Hitherto the law of 1819 he Ttod of hitherto b of that co. z of the price of gold h in facilitating (he expo .r import to pa} reduction of -our own people's employment, -wl (Mr. Buchanan) believed it will be felt to be, ti nations reciprocate free trade with it must be eviden idirectl, ,t the amount of our employment is )ld, for Sir Robeit reduced by th sane dictum if. illuitrations hat Sir Rol oberi Peel' ramid, the b. gad end uppermost. (Cheers and laugh A country like this, whose tray founded on the baukir cannot borrov —.actions are so entirely .ystem, should remember that we nd if the paper circulation and the re the life's blood of our trade, accommodation of banks and of the employment of our industrious classes, we ought to found our paper issues •on something less liable to be removed from this country than the precious metals, )eri, Peel, tl turn of gold, by_bringing for as things have been placed by Sir R portation of any large _ nount of tie confidence and credit ) absurdly dependent on gold as a basis, will cause actual starvation to thousands. (Great sen sation.) ground ten times its of the country, The CHAIRMAN then introduced Mr. Duncan to the meeting, which received him with all the enthusiaSm men could evince to an old and tried friend of the working classes, although he has only been a few days among us. Mr. DUNCAN, on rising, Was greeted by great applause. He then said, I present myself before you as the exposi tor of doctrines not vet popularised ; but I am persuaded that, the intelligence of a Glasgow audience, mindful that every thing now established was once new, will not reject opinions simply because they may be here enunciated for the first time. Prejudice has ever been the opponent of truth, and the ground of mental inquiry has been always pre-occupied by error. When Harvey promulgated his discovery of the circulation of the blood, he was denounced as a quack by every mL the age of forty. Jenner was proclaimed when lie announced lis 11. practitioner who had reached monomaniac When of vaccination Winsor presented his scheme of lighting London with gas to the House of Commons, he was pitied as a crazy en thusiast, and his plan was rejected by some as utterly impracticable, by others'as attended with so much danger that none could tell on what night London would b e l a id in rill.. . - uy an explosion. Stephenson was laughed at when he proposed to applylocomotive power to the Liver pool, and Manchester railway instead of traction by horses; and.your own Henry Bell was looked upon as a dreamy enthusiast, when he first floated a steamboat on the waters of the Clyde. (Cheers.) Examples such as these are instructive, and should teach us the folly of intellectual intolerance, and the duty we owe to ourselves and society +" --sit of knowledge, by a fair hearing rely because it runs counter to Bitted that the social con- fling it m dition of the worl e pro du i Ith receive a very inade of their industry. The their accumulations ; the nd deeper it Cheers furniture, this explanation quate portion' of there toiaing millions It II pensm phenomenon by a variety of ca Aution of the p ascribed : popular dist: every man, woman, food, nothing, and dom must be fallacious. If distribution NI production could not exist. Every hungry man, every ragged beggar, every unfurnished dwelling is an emphatic protest against this doctrine. Nature prompts us all to consume, and any human law or any social regulation which forbids the realisation of what nature dictates, must be accounted vicious. Give the great body of the people a sufficient share of the produce of their labour, in other words, give them high wages, and every warehouse and every shop would rapidly be cleared of its goods. The doctrine of over-production, then, is a fallacy which seeks to disguise the want of equitable digtribution. Again it is said that we are over-populated. If so, why do we make gigantic efforts to force a foreign trade ? Is not that done to find consumers of our commodities ? If all our people were able to purchase, should we hear anything of over-population ? Does it not seem strange that we should export our manufactures to the extreme boundaries of the earth, while the producers of those manufactures are shirtless, shoeless, and stockingless ? (Cheers.) We act upon a system which pauperises labour, and then ex claim that our numbers are too great ; we destroy our home trade by low prices, and it is only because we de preciate labour by insufficient wages that the fallacy of the proposition receives a superficial covering. There is no as signable limit to our production, neither is there to con sumption ; the greater the numbers, the greater ought to be consumption, and such would practically be the case did not a vicious law of distribution, of our own enactment, thwart the operation of the laws of nature. Emigration is ano ther remedy proposed for existing distress. I h ave g iven .•• • ~vm•-nnnulated tive, over- of de- TUE LIVERPOOL STANDARD. not positive value, but to the precious metals which are exempted from taxation, and because it fixes the price of gold, in utter defiance of the law of supply and demand. Ido not object to fixing the weight of the sovereign at 5 dwts. 3 grs., but I protest against fixing its price. (Hear.) We fix the weight of the quartern loaf at four pounds ; but we do not fix the price of the quartern loaf; its price is permitted to rise or fall, just as wheat is scarce or abundant ' • and on what principle of free trade, let me ask, can you treat the ounce of gold differently than you treat the quartern loaf ? This is the basis of the argument in favour of the formation of an Anti-Gold-Law League. The proposition recommends itself by its simplicity, and deserves the support of every commercial reformer. The fixed price of gold in our legal tender money permanently reduces the wages of labou and the profits of stock, for the foreigner treats our sove reign not as money, but as a commodity possessing intrinsic value. When he has sold his goods in our market, he will take back in payment that article which is cheapest. Now, as gold is untaxed, and kept down permanently by Act of Parliament at its untaxed level, while all commodities require to be raised in price in proportion to the amount of customs, excise, and other fiscal obligations, they are compelled to sustain, it follows that if that increased price is ob. tained the foreigner will take away our untaxed gold, and leave our manufactures in our warehouses. How, then, are we to tempt him to take our manufactures ? There is only one way, and that is by lowering the price pf our goods down to the level of untaxed gold, by which means alone we can destroy the competitive antagonism between our manufactures and the precious metals. Hence wages must be kept permanently low, and the producer, instead of the consumer, must pay the customs and excise charged on the food on which he lived while engaged in the act of production. In this cheapness the rich at home participate, for as there cannot be two prices in the same market, in the same kind of money, the producer is unable, even in the home market, to add taxes to the cost of production. The taxes, therefore, again fall upon him, so that labour, crushed under custor , --- . 7cise, and the nurel- , creprecia , __lasing powe r o f th e incomes of the fundholder, sinecurist, pensioner, and of all those classes who live on fixed annuities, is propor tionately enhanced. Hence, whenever revenue is raised through indirect taxation, a species of money which will represent taxation is required; that is, what we need for our internal transactions ; f or our f ore i gn t ra d e we s h ou ld All agi- continue to use gold as now, for we must always de .. .. with foreigners according to the measure of intrinsic value, and we ought to deal with each other accordina to - price. Let me explain the.sense in which I use these words. I define value to be condensed labour. Price I consider to be the offspring of indirect taxation, and of every other act or government or society which adds to the cost of production without adding to the value of the product. (Applause.) Hence, it follows that in a coun try wholly untaxed, or in one which raises its revenue by a tax directly and exclusively riding over realised capitalised property, the vroducer can sell his goods for their intrinsic value, that is to say, for the mere labour they condense (cheers) ; but in countries which raise a revenue by the indirect machinery of customs and excise, which again raise to the consumer the necessaries of life, by placing fiscal burdens on all articles of consumption, it is.impossible that goods can be sold for their int-: sic value unless we perpetrate the cr compelling the unpropertied clz dens of the state. Immense cheering 1 injustice of Isses to sustain all the bur- )w, untaxed gold can only represent intrinsic value ; it cannot repress that additional cost which ought to be represented by price—price meaning taxation added to intrinsic value. Therefore, gold money or bits of bullion ought not to form the legal tender for the home transactions of a coun try like Britain, which raises the vast mass of its revenue by indirect taxes. (Loud applause.) Under such a Mo netary system, it may be demonstrated that free trade with foreigners, less taxed than ourselves, must Drove de that it was a war tax ; to which I answer that the war debt remained, and till its liquidation the war tax ought to have been levied. This same legislature then imposed the corn laws, with a view to sustaining rents, and then returned to cash payments, which permanently lowered the value of all industry, excepting that of agriculture, which was protected by monopoly. (Loud cheers.) Under the bill of 1819. the Bank of England was compelled to pay its notes in gold, at a fixed price, but it ex ercised a discretion in the amount of , its issues; but this discretion was taken away by the bill of 1844, in which Sir Robert Peel most grossly contradicted himself and falsified his own principles. He laid it down as the very basis of his system, that the obligation to pay a pound r meant the obligation to pay at all times on demand 5 dwts a grains of gold, and theii he deviated from this basis in five different directions. He allowed the Bank of Eng land to issue eleven millions of inconvertible paper, be cause that amount is due to the bank by the people; secondly, he permitted that establishment to issue three millions of inconvertible paper on the unfunded debt ; to . . the country banks he gave the power of put millions without any metallic basis whatever he granted three millions, and to Ireland si that in the aggregate we have now afloat thirty-one mil lions of paper pounds, which, for anything known to the contrary, may one daybe converted into sawdust or ashes (Applause.) There is no legal obligation whatever to cor vert any portion of these thirty-one milli grain of bullion. Such is the gross inconsisten,, man who affirms that the true basis of a monetary systb_ is to insist that every pound of account issued should be convertible on demand into a given quantity of gold, and then, in the very same speech in which he proposed the doctrine, falsifies his faith i n his o wn c r ee d b y violatin g it in the most flagrant manner. (Cheers.) In opposition to Sir Robert Peel, I maintain that money ought not to r- ; to Scotland , millions ; so signified— nsic value as into a sine( a state that it is the sign, not the thin —the r epresentation of value, not value itself. I the legal tender of hold that the prerogative of labricatii the nation appertains niclusively to t crown, and that lent should det 6t amount exactly correspon annual taxation : would be the or representa never depreciate through ex limited to taxation. It woul not possessing intrinsic value i the amount e e of taxe S. It could ;ue would be yes for our °wry purpose ted, becau the waters :om mercial marine of This national money would render us completely, independent of the foreign metal for our internal trade and taxes ; we could always buy as much of it at the market price as our necessities required ; we should have far greater tacilities than we now possess for using it in payment of the balances of our foreign com merce. In this national money wages and profits would and I rise to their taxation level, at level I competition would prevent Steadiness would be intro- them exceedin_ duced into all market we should cease to be mere gem- blers ; nothing rmore than prudence and perseverance would be required to enable every industrious man to acquire a competency. (Loud cheers.) I must say a few words on private banking. ued by siich are not local n. They do not The notes establishment; are not money, because t No one is bound to take the operate as a discharge in law of debts or taxe therefore, pure currency, with which the Government has They are instruments of individual ting on personal faith, and he who takes no right to interfe credit, ci them, tali hem at his own risk icter of bills of exchange, only differing from them in not falling due at a determined date. They are but the evidences of debt. Now, with such instruments legislation has no concern, for it is not the province of legislation to protect the subject against his own voluntary acts of in discretion. (Cheers.) I make my appeal to you as a are in the Drous frc ,lishing t Will you co - -op - erate with u le mint price of the commodity—gold ? Will you insist that the price of gold shall henceforward be as free as the price of the quartern loaf I appeal to your y as men capable of reasoning ; to your interests cturers and operatives, which must prompt you profits and high wages so long as you are com- as many to seek pelled to pay - high taxes; can fieturn to London and say that the people of Glasgow, of whom the three thousand assembled in this hall may be taken_ to be a fair represen tation, are prepared to join themselves into an anti-gold _ . law league'? '(Great cheering.) I interpret those pro longed and enthusiastic cheers as an answer in the affirma tive. We have truth and justice on our side ; energy and peaseverance will give us an early and complete triumph over Jews, usurers, and moneymongers. (Long-continued cheeri: FINANCIAL AND COMMERCIA I 01 SUMMARY anticipations, with respect to t e, are being rapidly fulfilled, as is evidenced froM the fact of the Bank of England having last week raised the minimum rate of discount to 54 per cent. on first-class short-dated paper. It is .well known, however, that practically this has been the rate for some weeks past, and that even higher rates have been charged to unex- return of a money The importance of the announce ,sts in the acknowledgment which it ins that restricted accommodation is neeessa he position of the bank is not an easy on The unities. 1 a deer sion of the publ toiether with the creation•of a ver - . ng in monetary circles Our Cottoii shared in the general gloom, th a tendency to de: week have been about ;peculation, and 2000 of whicl . 1k of the business, however, was inouncernent of the Bank was tricts are quite inactive ; and great is maui liondon and throughout the coun declined during the week ; but in Liverpool, on a slight reaction took place, holders taking ad of the unsettled state of the weather. It was not maintained, however, and we anticipate a further de cline to-day. The failure of a large importing house in Mark Lane, during the week, and the report of a further failure Here, has shaken confidence amongst the Trade. The weather at the hour at which we write is assumine a .7rkets in I 1 circumstanc are favourable to a continuance of high prices On Friday capital was in request, bo' market, and at the London Stock Excham hinthed rate of accommodation in most cases was about 6 per cent. Another instalment was in course of payment on the eight million Irish relief loan, to increase the inquiry for cash. Consols finally .left off on Friday at 864 for Money, and 87 for the Account ; Bank Stock was quoted 1954 to 1974 ; Three per Cents. Reduced, 84 ; Three and a Quarter per Cents., 884 ; and Long Annuities, 9. India Bonds have r. ; and Exchequer Bills, to 5 di lish securities on Saturday did no The truth is, the dealer: dropped 6 . 10 dis. to to par. et for I material degree vary in _ show little incl ation to - do business after so serious a fall med. Consols for the Account we quote r Money 86i to 1. Exchequer Bills still par. Spanish Five per Cents. are 2O to 29 to 31 ; Mexican, 171 to 188. _ _ important commercial information from Xmerica e capoleon sometimes told of his early career. One of those, if true, the world was to the loss of an Emperor. f Toulon, which his panegyrists regard as the first step to his good tune, he returned to Paris, ap parently in the worst possible mood for a NAPOLEON shows how After the si 'enture. His me was at this period suffering from illness. too, had just communicated to him the dis a forts of he lust oblig .d to fly from Corsica, tate of insurrection, where the p was then at es, without any r ad she ans of subsistence Napoleon had nothing remaining, but an assignat of one hundred sous, his pay being in arrear. "In this state of dejection went out," said he "as if urged to suicide b' an animal instinct, and walkedalon, weakness, but unable to conquer it. ments I should have thrown myself ran against an individual dressed like a simple mechanic, and who, recognising me, threw himself on my neck, and cried, Is it you, Napoleon ? what joy to see you again !' It was Demasis, a former comrade of mine in the artillery regiment. He had emigrated, and had returned to France in disguise to sea his aged mother. He was about to go, when, stopping, he said, What is the matter? You do not listen to me. You do not seem glad to see me. What von ? You look to me like a mad ' This direct appeal awoke and he told him everything. "Is In a few more mo into the water, when I man about to kill hiMself.' " opening his coarse waistcoat, and de oelt, he added, " here are thirty thousand .n gold, take them and save your mother." " I ..ot," 'said Napoleon, "to this day, explain to myself .y motives for so doing, but I seized the gold as if by a convulsive movement, and ran like a madman to send it to my mother. It was not until it was out of my hands, that I thought of what I had done. I hastened back to the spot where I had left Demasis, but he was no longer there. For several days I went out in the morning, re turning not until evening, searching every place where I hoped to find him." The end of the romance is as eccen tric as the beginning. For fifteen years Napoleon saw no more of his creditor. At the end of that time he disco vered him, and asked " why he had not applied to the Emperor." The answer was, that he had no necessity for the money, but was afraid of being compelled to quit his retirement, where he lived happily practising horticulture. Napoleon now paid his debt , as it may be presumed, icently ; made him accept three hundred thousand 4ncs as a reimbursement from the Emperor for the thirty iousand lent to the subaltern of artillery ; and besides, .nade him director-general of the gardens of the crown with a salary of thirty thousand francs. He als, -- , nment place to his brother. Napoleon, who seems • - have had some floating ideas of fatalism in his - -; - 1 that two of his comrades, Demasis and influence on his destiny. Phili ‘l.tin employed by Sir Sydney -^ •We have -- remart gave a 1 - it when he was aid he, " stormed .ilt the throne of She had been ABERDEEN ABERDEENSHIRE ANGLESEA BOROUG] I ANGLESEY (COUNTY Captain Fordyce .... Admiral Gordon is.. Lord G. Paget .. .. Bulkeley ARMAGH • • .ATRLONE lAYR (COUNTY) BANDON BEDFORD (BOROU BEDFORDS L ....y.m.wic I tLACKB Vatkin FURTHER ELECTION RETURNS ECON I CAMBR UARNARVO CA SHRT. URESH H. Cotto DORSETSE DROGHEI DUBLIN ESSEX GLOUCESTERSHIRE (I GLOUC GREAT MARLON% HADDINGTON HADDINGTONSHIRE Charteris HAAIPSHIRE (NORTH) .. C. S. Lef HAMPSHIRE (SO 'ORDSHI HERTFORDSHIRE KENT (EAST « T EST). KILKENNY KIRKALDY KNARESEOROUGII LANARKSHIRE L,NCASHIRE (NORTH LANCASHIRE SEERS' LINCOLNSHIR LINCOLNSHIRE LINLITHGOV lONDONDERI MACCLESFIELD MALTON MERIONETI: RTHAMPTONSHIRE(N Saville Ogle NOTTINGHAMSHIRE (N.)HOllldSWOlth N OTTINC AIUSHIRT PAISLEY PEMBIIO PORT A TEIGN (RADN T. F. Lewis PRESTON RADNORSBI RUTLANDSHIR: SHROPSHIRE (NORT SHROPSHIRE (SOOT I Newport ST. IVES STAFFORDSIIIRE(SC STIRLING (B LINGSHIRE SUFFOLK (WEST) SUNDERLAND SURREY (WI ay .. . Denis() SUSSEX (WEST) of March TAVISTOCK Trelawnev TRALT WATE O'Connell RFORD (CITY) O'Conr - 11,,,, U WESTMORELAND WEXFORD WIGTONSHIRE WIGTON BURGHS .. WILTSHIRE (NORTI Dalrymple I\i`Taggart WILTSHIRE (SHUTT Sotheron ) .. Benett . . Sidney Herbert WORCESTERSHIRE (W.)General Lygon F. W. Knight E.) Rushout WORCESTERSHIRE Wroadley Lord Hotham Morpeth Cobden .. • ... C "Icy. 1 Hon. 0. Duncombe fact, one that was my Conservatives vc s but a et neither b us Stafford . 1 .. 0 . „ Maunseil lIMBERLAND (S.) Mathew 8e11...... .. 0 0 .. 1 1 .. 0 YORKSHIRE k v RII YORKSHIRE (WEST) YORK • (NORM RIDING)( O'Conni plated. ,i and Alder rabid R )RD C G. Cav ur Col 1 .. 0 0 .. 1 0 .. 1 .. 1 W. COdrington. 1 .. 0 , q. of Worcester 1 .. 0 Ley Berkele 1 .. 0 1 .. 0 0 .. 1 Heathcote Compton... C. Wellesley id .t 1 • . 0 atten.. 1 .. 0 sto pher meley Will: Norr Deni Lon] Gool Hud ADJOURNED MEETING OF THE MEMB THE LYCEUM. Last evening the adjourned annual meeting of members of this institution was held in the libi Bold-street. Dr. Anderson, president of the institt occupied the chair. It will be remembered that, a ordinary annual meeting, it refused to pass the accounts, in a very unsatis gation was appointed Froni tl tatement of 1 that t a deficiency of balances owi Le part of IV ne for the is tution, have to present to t result of their lab urs. Th owing to the difficulties an gation of he ext T in which the -hich ymi r. Hugh :reasure e now present& to none ght be • that the discharge some were for Of whom the comet en, takir ferred a to the master of t produced receii pt. - The - amou tall for the sale d expendi balance rowing money from the new the old. A long and rather Iva which several of the blamed the committee I Hughes to have so was ev ntended that t deficienc mittee ; tufthe c to call on the a tions, and the other to eco: Salt _suggested an additio member, and though induced to for the y it is the °pia mild endeavour my in ti spoke at ions, h vat lenith on t id he had no dot as - the 1 iittee. t the mec l'he re claim to the privileg, y to Hug to deprive them of any fairly entitled, and he ti ttee, as, ether th tee, with ins 2d also gener ,e institution, relating :a of thanks to the c r went of time and )ng tug to contusi, At the sai by a noise time, ml vicinity of Regent-street we The windows and roofs wer two or three buildings the i side of their rooms to the otl or two of rockets shot forth into the air; these were foil had barely sub Ike and large bhecti o n got the rr Mr. Darby that the worth £2OOO. king of the It was not ing occupied eight precedir the botto the feath around the herders are rev beautiful bright yellow col a mantle of tisin to m whnlly in its manufa tesive matt half dollars, was fOrm that of the purest diamond: lia, and excluding the price million of dollars worth ?f . a Journey which were kept in and fed with raw nu en night e on, L 1 i these i of a very 1: the men very renowned performer o Silnpso ic of these ferc imicy has claws of these fero- r the influence of liquor, he score corner of the granaries, •f the keepers when they let cs of anguish, and the wild to resc to wrest Umbach, a ), who r was too la tne yr Lt danc ,fig-parties, __ .Aacing been profes xten, insisted on going alone, sse monsters. As he was ver day used to be continu, being somewhat in his cu sionally engaged at Langga after midnight, through then_ positive in refusing to have an escort, the keepers allowed him to have his own way, believinc , that he only wished to save the small gratuity which they commonly received for their trouble. Umbach marched valiently through the , te ; but hardly had he advanced a few paces along the 'erous path, when the formidable dogs flew at him in Is. What could he do ? He retreated, retreated, retreated gently, walking backwards, so as to look his enemies full in the face. Presently he brought his back against a wall, and then staggering, he at I.2ngth sank down into a sitting posture, on a great stone at the en trance of one of the warehouses. His back was secure, and the instrument almost instinctively fell between his feet. There he sat in his customary musical position, and, with a mind full of anxiety, he almost unconsciously drew his bow across the chords ; the dogs stood still, and , peated the eXperiment, not a played away valiantly, at first, tole sure, some original rathe anu tnen polkas, mazurkas, minuets, in rapid succession just as they came to his fingers. The result exceeded expectation. His four-footed auditory laid asicle ever 3 hostile thought, and crov ircles around him, loud but a to move ;t of pr leies of proprietor a, signed by II d the c id that it wa t seemed o year ids to s proiirikor, had trar 26 produced receir all the •eliolde for add; )mize their ex iption of 1( well as to me ption by t shares. PV had fictitious lent to refer the ter, to a stitution, it was doubt- ly en - on the mo shares sold 3 the g Ins to take tate of t ed, after having s outline of the prc we are prevented giv er, attended feared, fatal workmen were e nmates werelurledfrc from Air. Darby's factory hi lowed I y sundry other expro n volumes of black to were to be seen curlin ten , ow were t Ler with a fireworks destroyed were al Y 9 Kat e reizt fabrica I . and a half feet spread ;mall ar ed, and the r, giving it ti would be dii ll' despo :ed, and the bird price of five feathers of this lue of the cloak would equal the featt ; LE, 38 , cchange; estil et 2"/ le _ mfaitny v. e, s ame time it blo and sm.+ --• • ble soil are e Ily requi- ni is that We re- rnorrovv- Pvhich /lON, 'low 7r ie t s t h; rav a e b ; i c' raa'cl mornin g y probabl y ) We shall have a new won Y end to settle the Weather, for many yars 00,000,000 had been contracted in a of parliament into gold you ;0 that we added, by this conversion, or iebt, and have ever since been paying nterest, instead of . £20,000,000, which ] e are justly indebted. J mai red the decisions of parliamei is y nt ;: ro e v in g - 0 4 ;l ta il; : e , tliegellslaytiteirje4inwiaszctiO4:teboool?ios9holtiluenser-i?-p-pc,;;:etyt--;;nn:cel f the nation if you' banish the countri End unk elt-sustaining en other di monetary system principles Of free send them to an early ( n land will meet y be foutid in the error of out rieally opi!iAeti to the yes a special privilege trade; become. it fantastic cmpeditio4. t closed befc irotest, on tl. nd Li)rd John ( returned r. Ten' to drop an his e I his soul to God. Then the keel have heard this extraordinary cone it was Isliglifiwe to le institu 'Reaed th' meet, without ct succee I and yet the granaries are equally well secured agaiu s t , predations—Lite of Madame Schopenlamer. and con :root 'rice 'ark, The CRY wick. Bed- able 3 the xl on ing a [oor ; Pros sing, ving and -den, Tare .00m, y 16, Bed hens, other four addle nient dens, Rad 1 0 1