The Sun.
London, England, 1855-05-18 00:00:00

easy to prove -that the Act of 1844 has

totally failed of accomplishing the alleged ob-
ject for which it was carried that in
place of equalising the value of money, of render-
ing the purchasing power of the Sovereign equable,
it has led to the most extraordinary and disas-
trous fluctuations—" fluctuations more injurious
to the industrious classes than the failure of all
the banks of issue since the creation of paper
money." We know that it was anticipated that
the novel principle would work well as a self-
acting regulator of the circulating medium ; but
it has not merely failed in its intended object,
but its operation has been diametrically opposite.
When there was an abundance of money, it added
to the plethora. When our coffers were well
filled, it caused their overflow. The torrent
destroyed what more gently and equably distri-
buted, it would have fertilised. In place of stimu-
lating legitimate trade, it led to unhealthy specula-
tion. Money became what was commonly called " a
drug in the market." But, unfortunately, it did
not long continue so. The tide of prospefity
rapidly ebbed, and left the imprudent speculators
to suffer the deplorable results of their folly. On
the other hand, when there was a deficiency the
tightness was aggravated, and sufficient could not
be obtained for the exigencies of the people, and
more especially of the creators and producers of
national wealth. This must be corrected, and it
can only be corrected during the present Session,
for notice must be given by the Government to
the Bank of its intentions with respect to the
Charter before the prorogation. Monetary re-
formers know the arduous task which they are
called on to accomplish, and they should there-
fore at once, and for ever, shake off the apathy
by which they have so long been affected.

LORD ELLENBOROUGH'S MOTION.—The Earl of Dela-
warr's name was accidentally omitted from the list of
Peers who voted in favour of Lord Ellenborough's

motion.

The Commissioners of Chelsea Hospital have in-
creased the pension of Isaac Church to Is. a-day on ac-
count of his rood character.

BANKRUPTCY COURT.—Mr. Bailey, the eminent
R culpto r, was yesterday awarded a second class certi-
ficate.

The number of exhibitors at the Paris Exhibition is
not less than 20,000, of whom 10,500 are foreigners.
On Wednesday upwards of 70 volunteers from the
City of Dublin Militia joined the 60th Rifles.
WAR ROCKETS.—Large Government orders, we are
informed, fur iron cases, of the CoNreve patterns, are in
course of e*ecution by an extensive firm in Long•acre
and DrurOane.

A deputation, consistirg of the Right Worshipful the
Mayor of Waterford, W. B. N. Wyse (high sheriff of
the county Waterford), Joseph D. Laphain, and Joseph
Fisher, Esqrs., has arrived in town for the purpose of
waiting on the Postmaster-General respecting the im-
perfect postal arrangements of the south of Ireland.
Daniel Mitchell Davidson and C.,sino Wm. Gordon,
who carded on business in the city of London as gene►
ral merchants and metal brokers, and at West Ham as
distillers, were brought up on remand before Sir P.
Laurie, 'at the Mansion-house yest,-rday, charged with
not surrendering after they had been adjudged bank-
rupts, with fraudulently concealing a portion of effects,
and with uttering fictitious warrants. They were again
remanded. . . .