The Northern Daily Times.
Liverpool, Merseyside, England, 1856-11-04 00:00:00

of Protestant Europe, to submit to the atrocities of
Bousa, and the bondage of Italy ? He will not
have us abandon the Swiss to the mercies of the
great league of despots, whom Prussia so ably
represents, or to place Great Britain under obliga-
tions which cannot be distinctly defined
in an ordinary diplomatic correspondence,

which can be brought before the Parlia-
ment and people of this country in the
usual way ? Never was there a nation who had a
greater contempt for petty intermeddling in the
affairs of other States, and that had more reason
to dread wholesale interference in unfathomable
complexities than the British have at this moment.
A PALMERSTON Cabinet would do every thing by
diplomatic councils, but the instinct of a Premier
is not at all times in tune with the opinion of the
times or the institutions of a State. We can make
every allowance for the actual condition of Prance,
and ought at all times to lend her

the most

generous aid in our power. But we must not
forego our dignity and indeperidence, and allow it
to go forth to the world that we cannot move
without the sanction of this or that potentate, and
are under the control of any other Power upon
earth. We, in our dependencies alone, have more
than three times the population of all 'he Russias,
six times that of France, and four times
more than Prussia and Austria put together—the
whole verging on the bloom and vigour of civilisa-

tion

These are the facts which should be sent forth
on the four winds of Heaven to counteract the
mistaken notions that have gone abroad. They
should also teach us how to respect ourselves, and
maintain that bold and independent position we
have so long held as the guardians of toleration
and the champions of humanity. We may not
have an ALEXANDER to lead armies, but we
can command hosts to send forth into every
land and on every sea. A NAPOLEON
might do wonders with our means, and
bone and sinew ; but we are not dependant
on any nation for their countenance and direction.
To disabuse the minds of surrounding countries
on this head, we must re-assume the lofty position
which belongs to Great Britain. If Whitehall is
amazed at the magnitude of Continental preten-
sions, no other portion of England is at all con-
cerned about the large things we hear. The
map of the world and the last census of the
universe bring us vast consolation. They breathe
of overtowering strength, and, with a less peaceably
disposed race, they might produce a great deal of
swagger and defiance. If we did not abhor war
and its crimes, they might make us very trouble-
some, if not dangerous to others. We might hurl
500,000 gallant Sepoys against as many popular
Cossacks, exterminate the Austrian Croats with
our Sikhs, scour Prussia with our Colonial
Riflemen, and still have Saxons and Celts left to
defend the glorious Constitutionalism of Europe.
We have the hearts and hands for great enter-
prises, and the heads are growing apace. The
great man of such a remarkable age cannot be far
off. His shadow has reached the earth. We see
it in our material progress ; and when he appears
on the political stage, or in war, diplomatic confer-
ences, or in the British Senate, he will restore the
lost balance of power in Europe by his nod, and
make despotism quail at the sound of the truth.
Until the coming man does arrive then, let us keep
ourselves free from the childish entanglements of
diplomacy, and'endeavour, by a manly bearing, to
avert from our country and our children the
penalties of a fallen position.

EVERY panic which occurs in these days, is im_
mediately followed by the sudden failure of some
great mercantile firm. The pressure of last year
brought down one of the first shipbuilding con_
cerns in the world, and the high discounts and
scarcity of money which have borne so heavily on
the commercial classes within the last six weeks,
have led to the stoppage of one of our greatest
engineering establishments. In both cases there
was rather a superabundance of business pressing
in upon them. Large amounts of money were
sunk in plant. Heavy contracts were drawing
rapidly towards completion. More hands might
have been employed. Full wages paid. There
were plenty of valuable securities in their iron safes,
but they were all of no use. The circulation was
hastily contracted. Taxation was swallowing up
the available means of trade. The CHANCELLOR of
the EXCHEQUER was holding tight all the money
paid into the Government coffers. Men, with any
amount of bona fide security, and resisting an
increased demand for their experience, skill, and
industry, could not get an advance of 100,0001 They
must close, shut up their workshops, and send their
hands adrift, and call their creditors together. This
is a very encouraging state of things for all those
to contemplate who are at present struggling
against the currency screw. The Bullionist's
system is, however, beginning to -work intelligibly.
Men of business now discover where the shoe

pinches.
Predictions, which were once scouted as theo-
retical rubbish, are now sanctified by the bitter
anguish of experience. As long as men have a
balance at their banker's, they can go on, but the
moment they require a little temporary accommo
dation, they must pay a rate of interest, which, if
paid, would leave them open to a charge of fraud
towards their trade creditors—or stop. Now,
if the principals only, suffered in these instances,
it would be bad enough in all conscience. But
the evils extend to three or four hundred families
of the employed who are thrown out of work with-
out ceremony. The tradesman suffers from the
loss of a large number of working-class customers;
and the industrial disorder spreads, like a plague,
throughout a wide circle of the population. The
Bullionist cannot deny this. He merely says,
" It is very had," and then asks, " How would you
" remedy t ? You know you must have gold ?
" You cannot expect to pay wages, debts, and taxes
" without it; and money, or rather gold, must be
"bought and borrowed at the market value, as you
"buy every other commodity." But this is simply
the language of a Shylock. Gold is a foreign com-
modity—our soil does not produce it. It does
not represent our wealth. We must enrich
others before we can possess their bullion. It
does not grow with our wants. It disappears with
our most crying necessities. We starve ourselves
to get it, and it leaves us when we are famishing.
Such is the first element of life in this mighty
realm We not only leave the multitude to exist
upon this shallow and ephemeral foundation, but
we abandon the safety of the State for this palpable

absurdity.
We leave our Empire dependant on a foreign
product for breath. The people cannot pay taxes
in the produce of their land or the products of
their looms. The State's demands must be paid
in a foreign metal, which is the most difficult to
obtain, and at any sacrifice of time, skill, and'
industry. Native labour cannot be employed
without it, and we despise all real wealth for that
bugbear which we do not possess within ourselves !
Is there no self- evident folly, injustice, and mad-
ness in all this ? We trust our Government with
the issuing of hundreds of millions of bonds