The Northern Daily Times.
Liverpool, Merseyside, England, 1856-05-26 00:00:00

fit.

NODDER,

HATTER,

Sl, CHURCH-STREET,

Begs respectfully to inform the Nobility and Gentry of Liver-
pool that hie NEW STYLES for the Season are NOW READY

for Inspection.

GENTLEMEN'S NEW OUTFITTING
ESTABLISHMENT,
ISTLE-STREET, LIVERPOOL.

NEXT DOOR TO THE GATEWAY OF ANDERSON'S
MERCHANTS' NEW DINING ROOMS

DAVID ANDERSON, PROPRIETOR

THE ABOVE ESTABLISHMENT IS NOW OPEN.

The Assortment comprises a very choice selection of
FIItST-CLASS GOODS ONLY, suitable for those Gentle-
men frequen'ing the neighbourhood of the Exchange, and
at more moderate priCes than it has been usual to obtain

em for.
SHIRTS MADE

TO ORDER,

e fit warranted, and

e materials guaranteed to be of the best qualities and
ent of LADIES' FIRST QUALITY

A select assort
will be kept.

bio*iB

ANDERSON'S 5, CASTLE-ST., LIVERPOOL.

TKa ANNUAL SUBSCRIPTION TO THE NORTHERN
DAILY TIMES Is TWO GtTINEAS PER ANNUM.

Et krallyrn firm

MONDAY,

31AY

26, 1856

THE reduction recently made in the rates of
discount by the Bank of England has brought
our Indian, Colonial, and Foreign Bills of Ex-

change once more within the pale of commercial
transactions. The minimum rate is now G per
cent. Commencing at this excessive, or political
discount, the drawers against produce must be

prepared to advance with the
money market. The change is, therefore, merely
nominal. Still, it is well to find the exporting
merchant placed, even in name, on an equal footing

tringency" of the

with importers, manufacturers, and general con
sumers. But how the advocates of the Bank
Charter Act purpose to justify this extraordinary
concession we cannot comprehend. The theory
held in Parliament is, that the rates of interest
should be raised, and money made both scarce
and dear, while the prices of all commodities are
lowered, to the destruction of every fund and
produce holder, to bring back gold. Bankers
shew a fanatical reverence for these bullion dog.
mas, and act up to them, in word and deed, in a
spirit of earnestness which might make the most
zealous Mohammadan blush ! Fortunately we

have before us the practical effect produced on
the bullion reserves of the Bank of England by the
operation of political or extravagant, and moderate
or commercial, rates of discount. Having now
returned to a state Of peace, we must necessarily
go back to, say 1852, in order to see what cheap
money and increased issues have done for us in
our past and present condition
War

is said to produce an exceptional
state of things, which sanctify the most flagrant
violation of the soundest economic laws.
But the commercial world must reject, with
the utmost scorn, such dangerous and strength-
destroying doctrines. The principles which
govern a nation should be as perfect and irre-
proachable as the rules of spiritual salvation, by
which all hope to vanquish the enemy of eternal
peace. The licentious scribes and designing
hypocrites of this age alone scoff at the fearless
denunciation of national sins, and the advocacy of
what appears to the erring and suffering multitude
a dream of unattainable perfectability. For those
objectors to what they think will not bear the

light of day, we know of no greater punishment
than to hold up their monstrous fallacies in
the full blaze of the sun. We have just
seen it practically demonstrated, that our
power, to defend our independence and sus
tain life, as a nation, depends wholly on those

laws which govern the quality, quantity, and
value of money. We have seen the most appall-
ing sufferings of our heroic army and navy, wide
spread destitution at home, and the most
alarming losses in trade and commerce used as

us to resort
arq,uments against allowing

so many

to a national currency

to limit the quantity of
circulation authorised by the Legislative, and to
add exorbitant rates of interest to low prices,
doubled taxes, and all the other difficulties and
dangers which follow in the wake of bloodshed.

'Such lessons are surely not to be thrown away
on a highly intellectual and reasonable people.
The public cannot shut their eyes to the fact,
that every thing our monetary Charlatans declare
to be sound in theory and practice have proved
so many giant impostures, and all their predic-
tions so many bare-faced political lies. Pass by