The Northern Daily Times.
Liverpool, Merseyside, England, 1856-11-27 00:00:00

" That palters with us in a double sense ;
That keeps the word of promise to our ear,
And breaks it to our hope."

The currency reformers are really indebted to the Times
"for teaching them that word," as it is certainly without •
parallel in the English language, for the fitness of its applica-
tion to the "philosophical formula" of our Bank of England
note, meaning—" I promise to pay, so long as I find it conve.
nient to do so ; but, when my stock of cold shall he nearly
exhausted, I shall ask the government for a dispensation to
suspend my specie payments, and then coolly inform you, as you
impatiently demand the fulfillment of my promises, that they
were given in a cabalistic sense." Now, all this untruthfulness
and fraud are the result of the theory that money possesses
necessarily an intrinsic value, and that it must always consist
of the precious metals, or be based entirely thereon,
Then,why, I ask in the name of common sense—of caramel:
prudence, and of common policy—why make the prosperity of
the country to rest upon an impracticable theory, already'
contradicted by that experience which is the great test of
truth.

Merchants and traders of Great Britain, which do you prefer
—money that is an article of commerce, and subject to all its
laws, or money that enables you to buy and sell all the articles
of comic:cc, regulated by laws of its own, which render it as
infallible instruuipt for conducting the trade of the country,
and for circulating aml increasing all its waalth ?
Which note do you prder—that with " ONE POUND
LEGAL TENDER" engraven on its surface, which will pay
your Customs' duties, your Excise, your Income tax, and eYery
thing else you want to pay to the value of twenty shillings, of
a note which only promises to pay the bearer a certain weight
of gold on demand, and may keepor break its protni..7e acoordinif
to circumstances ?

Which will you have, a currency amply sufficient for all
the purposes of your peat commerce, or a currency limited by
tho quantity of gold that you can accumulate at home under
the operation of a law that cempels the Bank of England to
sell it, as long as foreigners can find Bank notes to buy it with,
at £3 17s 91 per oz., without reference to the price it bears in
other parts of the world

And now that I have redeemed the pledge given in my last,
and answered the question of the Times, and finished my
twelfth letter, I shall leave your readers to digest at their
leisure all that I have written, as I shall be unable for a ter,
weeks to go en with this series of letters.
In the meantime, I leave the field clear for my friends
—" CoRNELtus," " A SPARTAN," and IL," the
apocryphal; expressing a hope that my friend, "the real
at
el; the‘‘j-P.
H." will
stines
who say they are Curreney reformerg', and AM not,
onceright malliebilu,eknolot ospnarhinisgaervmeonurthaouted,
but aro of the school of the bullionists. He knows
solrazu'gginh
how to strip these jackdaws of theit borrowed plumes, :tad I
leave them for the present to his tender mercies, reminding
them, for the last time, that their oft repeated and oft ecinfrita4
statements about the insecurity, inconvertibility, ir:edeerniz
bility, and so forth of the national note, " pass by um it tbi
idle wind, which I regard not." The note that 1 ha*e Wed
advocating, rests on the solid rock of all the prcrpirti
of the Empire. It would owe its existence, not td
the necessities of individual landowners, or to the
dividend-seeking proprietors of a joint-stoctc company'; but
to the will of the nation, expressed through its representatives
in Parliament. Its characteristics are, as I have already
intimated, security conveniency convertibility. The
Queen will receive it in payment of all her revenues. Every
body will receive it in payment of every thing that is due to
him.

It will impart stability to the operations of commerce. ft
will enable the merchant to calculate with certainty the utmost
limit of his means. It will gladden the hearts of the indus-
trious population, by enabling them to add taxation to price,
and thus securing for them the just rewards of their industry.
Find me a standard to measure its value, and I will find you a
stanclaid to measure the value of a life-buoy thrown to a
drowning man just in time to rescue him from a watery grave.
I am, sir, yours, &c., J. W.
Liverpool, 25th November, 1856.

SurrosED Loss or A SCOTCH STEAMER, WITH ALL
HANDS.—It is feared that the steamer Roslyn, which left
Stettin on the Bth inst. for Leith, and which was duo at the
latter port on the 12th, has been lost in the late gales in the
German ocean. The only hope of safety is that sbe has been
cast on the coast of Norway, whence communication is not
easily attained. The Roslyn was a new vessel, of about
700 tons burthen, and was fitted up with all the latest
improvements.

HORRIBLE DEATH OF A CHILD. —OR Tuesday, Mr.
Wakley held an inquest on the body of William Fillmore,
aged four years, who met with a frightful death. From
the evidence it appeared that deceased's mother had gone
out for a few minutes, leaving the child playing about the
room. Upon her return she found him all in flames. The
poor child was immediately conveyed to University College
Hospital, where death soon terminated his sufferings.
Verdict, " Accidental Death."
FATAL ACCIDENT NEAR-THE MIRFIELD RAILWAY STATInS.
—About mid-day on Monday, John Fitton, the number
taker employed at the Mirfield Station, was standing on the
line at tho Bradford junction, watching a train come in,
when he was warned that an engine and tender were coming
the other way. Unfortunately he stepped on to the line
down which the engine was coming, and was caught by the
buffer, and hurled some distance. He was immediately
conveyed to the Huddersfield infirmary, when it was found
that he had sustained a compound fracture of both legs, and
both thighs. He never rallied, and expired about three
o'clock the same day.

THE HANGING IN SPORT AT BATLET.—OR Tuesday,
before the West Riding magistrates, at the Leeds Court-
house, three lads—Benjamin Preston, aged 11, Abraham
Sharp, 13 years, and Joshua Firth, 13 years of age; were
committed to take their trial for the manslaughter of a lad
named John Harries, 13 years of age, in a mill, at Batley.
The lads had been larking together in the mill, and one of
the prisoners proposed to " Palmer" Harries, and fastened
the rope attached to the crane round his body. Just at this
moment, the men in the lower part of the mill c)mmenced
hoisting up a pack of wool, by which act, deceased was
carried to the top of the beam, and the upper part of his
body was dreadfully crushed. lie died yesterday morning,
at the Leeds Infirmary, and the inquest will be held this
day.

ERNEST JONES'S POLITICAL SOIREE AT ST. MARTIN'S
HALL.—On Tuesday evening the third of Mr. Jones's
soirees took place at St. Martin's Hall, Long-acre. The
performances,
which chi;
hall was not near so full as on the previous occasion.
Whether from want of faith with the artistes, or from
other causes, we cannot say, but there was no pianist or
vocalists last evening ; and when Mr. Lowry sang
" We are so low, so very, very low," one of the audience
sang out, " And the piano won't go." This was apparent,
gsutahl.a
that
abusive uds itivcea
ducal
language,
house
ous e
from the fact that the solo singers were accompanied. by an
ophiclede, the only instrument, with
.the exception of
rmocuese.cdaeld
his
! alwaysoandng,
wFrheinchc hwehroernvse,rypsiceascnntyt.,
MAr.ftjerontehsep
strongly protesting against. every porson who had any
property.
which
It se t wasout
had been and always would be guilty of murder. In this
biny "stthaetinu
strain the lecturer continued, but it would be impossible,
without libelling several distinguished noblemen, to give,
even an abstract of Mr. Jones's speech.

AS MANTLES and JACKETS aro so
very generally Worn this Season,
___
J. MAC LENNAN, 36, CHURCH-STREET.
(OPPOSITE PARKER-STREET),
a
Has made arra,gements to have a Case:f4oth
and JACKETS, in Velvets, Reversibl4-ry
‘Veek for the
other Fashionable Materials, delieeL:lei,
1 Ladies desirous of
next Two Months ; therefore,
h make their appearance
having the Fashions as soon as
moderation
le
prices, are respect-
fully solicited to inspectfrton.b,o
London, Two Cases contain-
JUST RECEIVED,
; f 4s. I id. each.
arily Low Price 0
AND
MANTLE WAREHOUSE,
SHAWL
oPPOSITE PARKER STREET.
log about 700 MANTLE'S,

MAC D I
AsAsocIRATI:s
4A •IG TEACHER OF
V ATION AND NAUTICAL ASTRONOMY,
4BLY ASSISTED, PRACTICALLY. BY
CAPTAIN A. MACNAUGHTAN,
LIVERPOOL MASTERAMCARABInNndEEtRhi‘eSI'
24, GREAT GRORGE-SQUARE. LIVERPOOL.
41•+ Inv:tint-or full copy of prospectus at stay of the Opticieus, a

easily matched by any more philosophic formula that we are
aware of."

I think that I have demonstrated pretty clearly, that their
force is that of falsehood, their simplicity that of fraud. For
unless the bank retains five golden sovereigns in its coffers, for
every five pound note it issues to the public, the "philosophic
formula" is all moonshine, and the " matchless words" which.
It
which
carries —thesel rh eaaavl
letter
eyat
I:::cabalisticafdyom referred
one eend
ds words
ofuf Tr
the
compose it a gross imposture.
Are we, then, to be fooled out of our common sense by a
superstitious reverence for this so called "philosophic formula"'
furnishing
model for a new national currency, is complete without them..
Theiknignglisipoos
witht atgoea
nst
hteaexmc
oeplt,lhee
rut to,
without promising to do so. It is the best model of a national
note. It performs, instead of promising. This is precisely
what we want in a national currency. Something that shall
pay, without promising to pay. A pound payment, instead of
a pound promise. A species of money that shall NS
payable and receivable by every one at its nominal value,
without any cabalistic nonsense being engraved on its surfaee a
a species of money that shall circulate the wealth of the country,
just so far as the postage stamp carries its letters ; that it,
everywhere within the limits of the United kingdom. For
such services no "cabalistic words," neither few nor ninny.
are required. The simple words, " One Pound, legal tender,"
will be found more than a match for the "philosophic formula"
of the Times. So the currency reformers have no need to cast
about for any "cabah6tz • •c words" to be engraved on the paper.
I feel as if I could not easily part with this word"cabalistic."
The dictionary gives us to understand that it signifies some-
thing that has an occult meaning ; something, in short, like
the juggling jargon of the witches addressed to Macbeth—