The Sun.
London, England, 1839-10-12 00:00:00

EVENING EDITION.

FREE TRADE IN MONEY.

For there is this natural check, the quantity and
price of commodities, by which the issuers of
money on them, like lenders in general, will regu-
late the amount of their advances.

[We publish the following in connection with a
previous article from the pen of Mr. Sony.]
Whilst one party abuses Free Trade, another
fancies itself the advocate of it. Both look merely
to the foreign trade, to foreign silk, or foreign
ships ; and it is only to sneer at it that the Times
alludes to the great want of home trade, afree trade
in money, or what it calls paper.
For the present distress is not merely the com-
plaint of those who are exposed to foreign compe-
tition, it is a subject of far greater importance.
As it is more peculiarly the complaint of the home
trade, of the agriculturists, and the labouring class
either directly or indirectly connected with them.
It is not merely the complaint of the growers of
wheat, but it is also that of the growers of articles
who have had the home market to themselves.
It is a distress that is a consequence of those
monopolies and restrictions, that so unnaturally
check the free circulation of the home trade. But
most of those whom the distress does not reach, but
who are called upon to legislate on the subject, rest
satisfied with the explanation, that over-production
and over-population are the cause, for which some
new foreign colony must be the remedy.
They understand that the division of labour pro-
motes the increase of production, having read Adam
Smith's illustration in the manufactory of pins ; but
when they behold the effect in the vast production
that loads warehouses and shops with abundance
of everything that man can wish for, how few give
themselves the trouble to reflect on what it is that

In order to silence those who complain of the
effect of Mr. Peel's Bill, in contracting the amount
of the circulating medium, the Times asserts, that
the amount at present is equal to what it was during
any period of the restriction, or nearly so. Now
the amount of country bank notes stamped in the
six quarters ending the sth April, 1810, was
23,813,0521. which makes for the term of three
years, being the duration of a country bank note,
the proportionate sum of 47,626,1041. of country
bank notes, which may be calculated as having
been in circulation at one period, to which add the
amount of Bank of England notes in circulation on
the 14th April, 1810, of 22,222,7301., making a
further total of 69,848,8341. of bank notes in cir-
culation at the same time.

On the other hand, the quantity of sovereigns
issued from the Mint in the years 1820 to 1825
included, was about twenty-five millions, of which
seven were stated by Lord Goderich, in February,
1826. to have been exported : to this may be added
the annual sum carried out of the country by tra-
vellers and smugglers of one million, making six
millions more, leaving only twelve millions of sove-
reigns in December, 1825. Now in ordinary times
three millions of sovereigns must be ealculated on
for the wants of Ireland, five millions for the Bank of
England, and five millions more for country banks, as
a hoard against the effect of Mr. Peel's Bill, instead
of being in actual circulation. How many sove-
reigns there are really in circulation at present, in-
dependent of those above-mentioned deposits, it
would be difficult to ascertain : and as there has
been a considerable exportation since 1825, it is a
question in how far the Mint has supplied the de-
ficiency.
But as the amount of country bank small notes
alone, stamped for the year ending the 10th of Oc-
tober, 1809, was 6,341,6761., which, being equi-
valent to 19,025,0281. in three years, must accord-
ing to the usual calculation be taken as the circu-
lation of a year, to which add the amount of Bank
of England notes under five pounds, issued at
about the same time, of 5,854,170/., making to-
gether the sum of 23,879,1981. ; the question is,
whether there is at present that amount of sove-
reigns in actual circulation, besides the above-men-
tioned necessary hoard of thirteen millions—that
is, whether there are now thirty-six millions of so-
vereigns in the country ; and this comparison is in-
dependent of the additional quantity now requisite,
from the increased population and concerns since
the year 1810.
One pound notes are a species of retail bills of
exchange or pronsissmy notes ; they are in fact
more necessary than the large ones which circulate
to such an immense amount, in the same way that
retail trade is more necessary than wholesale trade.
To prohibit them is like the system which permits
great people to do that with impunity for which
common people are punished.
But it is sincerely to be hoped, that the argu-
ments for this most important subject of national
interest, free trade in money, may be fairly and
thoroughly considered, and that it may not be brow-
beaten by the cant terms of " tampering with the
currency," " unhinging of contracts," or any other
oratorical flourishes, which when uttered by cele-
brated characters, so often serve to divert attention
from the poverty of reasoning and the want of re-
flection, which manifests itself on cooler considera-
tion of the speeches.
The subject may require some study by those
who have not been in the habit of paying attention
to it, but it is not so intricate as those insinuate
who do not wish to see it discussed ; and it will
well reward the pains bestowed upon it, for it is one
of the most intense interest to the prosperity of
mankind.

narrows consumption and confines it to the minority,
while so many sigh in vain for the enjoyment of the
superfluity.
And far from any endeavour being made to ex-
tend the benefit to all, every effort is used to restrain
that division in the consumption that is so much
applauded in the production.
Thus any attempt through the medium of a rise
in the wages of labour to extend the comforts of
that class, is resisted as an aggression, while a
rate of wages on which a labourer may starve,
prices by which the producer is ruined, are consi-
dered as a subject of congratulation. No one
takes into consideration the large proportion of
production that remains undivided and uncon-
sumed, except as a matter of regret at what is
called the over-speculation.
This arises partly from that selfish view of the
division of consumption, and the mutual claims of
society connected with it, which falsely supposes
that what is one man's gain is another man's loss ;
and it arises further from ignorance of the real na-
ture of money, and its operation in effecting that di-
vision.

Of the decrease of consumption, no articles af-
ford a more decided proof than beer and malt.
The average quantity of beer that paid excise for
England alone, at the time of the union with Scot-
land, although the population did not exceed six
millions of inhabitants, was 4,100,000 barrels,
which would form for the present population of the
United Kingdom of twenty-four millions the pro-
portionate quantity of 16,400,000 barrels, whereas
the present average quantity on which excise is
paid is only 8,200,000.

Again : the quantity of malt that paid duty in
1730 for England and Scotland was thirty millions
of bushels ; and yet, with treble the number of in.
habitants at present, the quantity of malt, by the
excise returns, remains without increase.

Other instances of decrease in the consumption
of articles usually considered as of general neces-
sity, such as meat and bread, although the existence
of the decrease is generally asserted, yet as it is not
so easily documented, the argument must be con-
fined to that which is in evidence.

Now as the real truth is, that one man's gain
affords another man's gain, as one man's loss causes
another man's loss, so the labourer's loss in fore-
going the beer is the loss of custom to the brewer,
the maltster, the farmer, the landlord, and lastly to
the labourer himself, in so much less employment
by the diminished consumption. And we see in
this chain of consumption and mutual employment
the nature, operation, and utility of money exem-
plified at once. The increased sum of money re-
quisite to enable the labourer to pay for the beer
goes through the same process, to the brewer, the
maltster, the farmer, the landlord, and comes to the
labourer in wages for increased employment.
The reaction of mutual employment and of con-
sumption, and the liquidation or balancing of the
mutual accounts, occurs without any reference to, or
necessity for, what is usually called standard of va-
lue, intrinsic value of the medium, or whatever
name is given to that delusion, by which the real
use of money is attempted to be mystified.
No doubt, the oppressive rate of the duties on
beer and malt is one cause of the diminished con-
sumption, but it is not the most important cause.
For this is a cause that influences consumption
throughout, whether taxed or not; it is the want of
the one thing most needful, a free trade in money.
As the surest market is the home market, so the
surest home market for production is mutual con-
sumption. A great mass of production is raised
in anticipation of this last, and all that is wanting
towards it is the liquidation or balancing of the
mutual accounts arising out of it.
On the free unshackled liquidation of mutual
debts and credits by means of a free trade in money,
depends the real prosperity of the country.
But the pseudo-advocate of free trade calls those
monopolists who advocate free trade in money. He
overlooks the monopoly which he himself insists
upon that foreign exchanges and foreign gold shall
exercise over the home trade of the country, by their
being the regulator of how much money may circu-
late. Now so far from undervaluing free foreign
trade, all that is asked for is, that it be not placed
in a state of hostility towards the circulation of the
home trade, and that the latter be kept independent
of foreign exchanges, and the foreign commodity,
gold.

Country gentlemen, :And members in particular,
it is to be hoped, will be the foremost to call for a
revision of those doctrimes which have been too
long permitted to misl sad, and of those bullion
measures which have in the trial shown no other
tendency than to derang e the internal commerce of
the country. An attei: apt to return to cash pay-
ments was unnecessarily " tampering with the cur-
renty,'Y and a mere delu iion ; but a return to paper
currency would be a re turn to common sense, not
but that some regulati( ms may be necessary, of
which more hereafter.

" And as to " unpin; gine, of contracts," the ef-
fect of free trade in mop ey would be to ensure the
fulfilment of them, whit :h is more than can well be
said, in too many instanc( !s, to occur since the passing
of Mr. Peel's Bill, as la ndlords well know.

In order that the lot ver classes may derive the
full benefit which would result from a free trade in
money, there should als 3 be free trade in labour,
and its price should bet egulated by supply and de-
mand, and not by the int erference of the Magistrate.
As the necessity for in anual labour is more and
more abridged by the nprovements in machinety,
while commodities have become more abundant and
lower priced, why atten ►pt to check the more gene•
ral enjoyment of them , by forcibly regulating the
price of labour and the nature of the liquidating
medium.

- -
FROME.—Tliere ar living. in one cottage in
Frome, at the present tic ae, fiv:individuals, of one fa.l
Indy, whose united ages amount to 376 years. They
have also living 9 childr en, 65 grandchildren, and l
great-grandchildren.—lV ills Independent.
DEATH OP COL ONEL WEIIB.—We regret
exceedingly to announce the melancholy intelligence
received by the Great Western steam-ship, of the
death of Colonel Webb, formerly representative of the
city of Gloucester, which took place recently at New
York.. The Colonel, a. !companied by his daughter,
Miss Webb, left this country a few months ago, for the
purpose of travelling th rough the United States ; on
reaching the Falls of Ni agara he was taken suddenly
ill, and his physician advised his immediate re-
moval to his native country ; subsequently, on
reaching New York, t :he symptoms appeared more
alarming, which in a fat s hours terminated his exist-
ence. His physical pov Jers were so weakened by ex-
cessive sea-sickness that he could not again rally. His
remains, we understand, are to be forwarded to this
country for interment. Few persons were more highly
esteemed, or enjoyed g renter confidence than the la-
mented gentleman, in I Joth public and private life ; in-
flexible in principle, and zealously alive to the interests
of his constituents and tl 1C welfare of the country, none
will be more deeply regr '..tted or longer respected in the
memories of the citizen s of Gloucester.—Cheltenhanz
Examiner.
THE IRON TRADE .--The iron-masters of tte
Staffordshire and Shrops hire districts, at their prepara-
tory meeting last week, letermined, we understand, to
maintain the prices as fixed the previous quarter day.
Most of the leading ho, ices are, it is reported, in pos-
session of extensive order s ; whilst the merchants' stocks
were scarcely ever know 3so low as at the present time.
Railroad Companies are still pouring in their orders for
bars, engines, carriages, &c. ; and although many new
works have recently be .tn erected in this district, yet,
from the state of monet ;cry affairs, they have been as
yet, and will for some t ime to come, be rendered inope-
rative. Under all circt tmstances, the trade may be con-
sidered, on the whole, in a very prosperous condition,
as all who have the goc 4 fortune to be connected with
the make of iron very readily acknowledge.—Birming-
ham Advertiser.

And why is the uncertain price of an ounce of
gold to be called a standard of value ? when, if you
repeal the law which makes it a legal tender at
Si. 17s. 10d., it would be as liable to fluctuation in
price as other article., are, and would fall below that
rate whenever the balance of foreign trade is in fa-
vour of this country .
Why is the uncertain quantity of foreign gold to
control the quantity of money concerns, or the mu-
tual debts and credits of the nation ? And why
are these at all to be subjected to legislative con-
trol ?

As no scruple was made in extending the Go-
vernment debt to 800,000,000 of sovereigns, that
did not exist, vrithout any regard to that artificial
standard of value, gold, which was to check uncon-
trolled issues of: paper, why is it to be used now
to check the debts v.nd credits of individuals, or the
nation at large. As long as Government wanted
an uncontrolled issue of paper money, it was
granted ; when it: was wanted merely for the benefit
of the country a.tt large, the permission was with-
drawn.

The opponenf 4 of paper money make the follow-
ing objections to. it :
That it does not contain intrinsic value.
That there is. no check to an unlimited issue—
and

EXCLUSIVE Lo A LTY OF • THE DUBLIN
CORPORATION'.—At II gh Sheriff Faulkner's dinner in
Dublin upwards of 20( gentlemen sat down to dinner.
There were present tl re Lord Mayor, the late Lord
Mayor (Alderman Hoy te), Alderman Smith, the Re-
corder, Aldermen Sir J. K. James, Bart., City Trea-
surer, Perrin, Drumm ,ond, and Baker. We quote
from the report in t be Dublin Mail, the Orange
paper :—" After the ( loth was removed, the Chair-
man proposed "The C hurch and the Queen: Drunk
with three times three. , Her gracious Majesty Queen
Victoria.' Three times three, and all the honours. The
Dowager Queen Ad, alaide.' Drunk with nine times
nine, and all the honor as. The King of Hanover and
the rest of the Roy; 11 Family: Nine times nine, and
all the honours. The Chairman then gave 'The Lord
Lieutenant and pros! ),erity to Ireland.'—(Cheers, and
cries of Away, away fle.B gone away'—, so much
the better.') The CL airman then called upon the com-
pany to fill a bumpe r. He was about proposing a
toast which was quite in accordance with his own feel-
ings, and he trusted tl Jai; every one around him would
glorious, pious, and
fill an overflowing bump I:1*—c The
immortal memory of the great and good King William
I the Third:—Drunk witl i great cheers."

That it rais es .the price of commodities.
In conside ring the question of intrinsic value,
most persons confine their view to the supposed
certain vain e of gold, which they think must at all
times com:,nrAnd .a ready exchange for it in other
commodities. Now gold, as a mere commodity,
has even less c ;dainty of commanding an exchange
than mor,t othe r commodities, in as far as it is less
an object of nec :essity or use. It is merely when it
is by law consti ituted money, that it attains the va-
lue of being a necessary object of exchange for all
commodities, w hich is in fact the real intrinsic value
of money, and not of gold ; and which arises from
money being a lien on, or creditor of commodities.
It is the necess: ity which commodities are under of
redeeming th*As dt .bt, or paying it, which gives to
money the
a
' ?ovver of purchasing them.
The se' zond of .jection, that there is no check to
an unlim;
third o',3iectio. ,ted issui 3, arises out of the fear which the
ruses ; namely, that the price of
comr,iodities is raised thereby.
'But there i s :no occasion to legislate for either
oase, as, if left to themselves, they will find their
own level.

APPEAR), .NCE OF WILD FowL.—
On Thursday evening 1; ist, a large flock of wild geese
were seen to pass over Hendford Hill, near Yeovil,
very near the ground: and which doubtless took up
their abode for the nig ;ht in the corn fields at the
top of the hill, as thel f were again seen, early the
next morning, wingic o their way to the southward.
Several wild ducks sure also seen in the river between
Langport and Itches 'ter on Sunday morning last. The
early appearance of these birds is generally suppoed
to indicate the se. in of severe weather in the
north, from whence it is also inferred that, in all pro-
bability, an early ; tnd severe winter will be expe-
rienced here.—Sher lA9rne Journal.

SPIRIT of the PUBLIC JOURNALS.

• writer was in the Scaleby Castle at the time (Lieut.. Col.
Livingstone.)
Captain Gardner was himself, I believe, an old man.of-
war's man ; at any rate, he was well known in the navy as
an able navigator and seaman.
(From the Times.)
There are some signs of grace, and of an approach
to an honest and faithful account, in the return of the
quarter's revenue published yesterday, compared with
many which have preceded it, to which such credit as
may belong to them ought to be given. We were al-
ways disposed, in the spirit of the claim immemorially
preferred, in favour of another great personage, to give
the late Chancellor of the Exchequer his due, but, very
unfortunately, with all the industry we could exercise
in the research, we were never able to find any, the most
minute, redeeming clause in his periodical mystifications.
To return, however, for we desire to blot him out of
our recollection, to his successor. Our admissions in
his favour will go this length, that he has made some
alteration in the form of the quarterly return, and
that the alteration, so far as it goes, is for the better.
The " imprest monies," and the " repayments of
advances for public works," though they are still car-
ried to the account of income, where the latter, at all
events, ought to have no place, are now separated from
each other. In carrying, also, the general account of
income into the Consolidated Fund account, we are now
permitted to learn the " amount applied as advances,
and to pay off Exchequer Bills issued as advances," dis-
tinguished from the amount applied as part of the "ways
and means of the year," and these repayments and ad-
vances now figure, as they ought to do, on both sides
of that account. One unfortunate consequence, to be
sure, follows this, which is, that the item is all but com-
pletely ejected thereby from the " income" side of tne
return, since it is shown, from the new Chancellor of
the Exchequer's own figures, that instead of 234,0001., it
presents a balance of less than 4,0001. in his favour. But
even the beginning of extrication from a system wholly
vicious is to be hailed with some satisfaction. Revert-
ing to the general character of this return, as an index
to the true situation of the country, there cannot be
collected from it any very strong grounds of congratu-
lation. On the comparison with the corresponding
quarter of last year, there is an increase of about
290,0001., but that comparison is made with a period of
depression, still remaining after the crisis of 1837, and
if the comparison is carried back to 1836, there will be
found, instead of any surplus, a deficiency of near
400,0001. This will be apparent from the annexed
table, which we maintain to be the true mode of exhi-
biting the quarterly return of the revenue, if it is in-
tended to give any real information to the country
through that medium :

(From the Morning Chronicle.)
We believe with " Justitia," a second communication
from whom will be found in this day's Chronicle, that,
in attacking the appointment of Admiral Fleming, the
Times " bites against a file." It is allowed on all hands
that there is not a more meritorious officer than Ad-
miral Fleming, in the British navy. He is held in
the highest regard by his brother officers as a thorough-
bred seaman ; and the objection of his not having been
in command in a general engagement is made the sub-
ject of unsparing ridicule. After the sea had been
swept of our enemies, the opportunity of commanding
in general engagements was not to be had. The pro-
fession, in estimating merit, do not take into consider-
ation the accident of an officer having been in an en-
gagement. They know that a good officer will
not belie his character in action. We well
remember when there was but one opinion in the
navy as to Admiral Keats being one of the best, if not
the very best officer in the navy, at a time when he
had not yet been so fortunate as to be in any general
engagement. If the peace continue much longer, there
will not be one efficient officer in the navy who has been
in any general engagement ; but will it be the less
known in that glorious branch of our service, who is in
a condition to lead our tars to battle against an enemy,
should the occasion arise ? The Tories have the advan-
tage in a controversy which a sweep has in a narrow
passage—they cannot themselves be injured, and their
dirt may injure others. The very essence of Toryism
is jobbery—foul, disgraceful jobbery ; but their having
no character, they can bellow with impunity against
those who have character. Sheridan used to say
that nothing was so expensive and troublesome as
keeping a good character, for it required a constant
outlay and a constant attention ; and Lord Lynd-
hurst's great recommendation to the Tories is, that
he can devote himself entirely to aggressive warfare,
having no principles to defend. The Tories would
laughs at any one who should be simple enough to waste
a word on their character. The Times is an appropriate
organ of such a party ; for what man or woman in the
British dominions is ignorant of the utter shamelessness
of the Times, which has made its name synonymous
with Blackguardism in every quarter of the globe ?
The foul-mouthed organs of a selfish and unprincipled
party are aware that the Whigs must stand well with
the country, and hence the unblushing effrontery with
which they assail them for appointments not merely
defensible, but highly meritorious. Indeed the
Whigs would perhaps at this day be stronger than
they are, were they more regardless of the Tories
than they are, and did they use the patronage of the
Crown somewhat more than they do for party
purposes. The foul-mouthed assailant of Admiral
Fleming, in the Times, had his tongue in his cheek all
the while he was talking of " corrupt barter," and the
" desecration of sacred treasures." Why, in the Tory
times the navy was one great job. So reckless were
they, in this respect, that out of their whole host of
Admirals, they were often unable to find one to whom
they thirst entrust the command of a fleet ; and we owe
to the circumstance of our greatest naval heroes, in the
late war, being Whigs, as Nelson, St. Vincent, Col-
lingwood, &c., that the country possesses, in their cease-
less remonstrances, evidence of the scandalous bestowal
of the public money on men unfit to render any adequate
return for it. Thank God,:we are now in better times.
Some regard is now paid to qualification in appointment
to office. The navy view with satisfaction the appoint-
ment of Admiral Fleming to the Governorship of
Greenwich Hospital, knowing him to be an excellent
officer, and that he possesses in a peculiar degree the
qualifications which will enable him to see that our
brave veterans shall pass the evening of their days com-
fortably. Any vagabond may throw out aspersions
against the most estimable characters ; but Ministers
have the satisfaction of knowing that no man, who
has himself any character to lose, will dare openly to im-
peach the appointment which has drawn down on them
the abuse of the Tory scribes.
ADMIRAL FLEMING.
TO THE EDITOR OF THE MORNING CHRONICLE.

1836.

OCTOBER RETURN FOR

1837.

SlR,—Having this day read the remarks in your paper
on my letter of yesterday, I shall once more intrude on you
to insert the following, in answer to the remarks in the
Times of this day, at the conclusion of which he speaks so
highly of his late Majesty when Lord High Admiral. No
one regards or respets the late monarch more than I do ;
and it was to me a source of sincere regret to hear the re-
marks made in 1827, when his Majesty appointed Mr.
George Vinter, son of the late Captain Vinter, R. N., to
succeed a vetei an (Mr. Kent) as steward of the Royal
Naval Hospital at Plymouth. Captain Vinter was, I be-
lieve, an old shipmate of the Lord High Admiral, and the
young man had never seen any service. Well might all the
old pursers and other civilians give the vent they did to
their feelings on this appointment.
I will just mention another appointment in 1820, Cap-
tain John Hill (now Sir John) only made post five years,
and never commanded a line-of-battle ship at all, or was
Captain in a general action, and succeeded Captain (now
Admiral Garrett) at Deptford sixteen years higher on the

list. Lord Melville was then First Lord, and ►no remarks
were made. Now, 1 give two appointments for the Times
to chew, and both individuals are excellent officers, but
where were their claims ?

Another charge against Admiral Fleming is his having
the Portsmouth command after Sheerness. lie was placed
at Sheerness on the lamented death of Vice-Admiral Sir

Richard King. A naval promotion in 1837 advanced
Admiral Fleming to a full Admiral's flag, which incapa-
citated him to hold Sheerness. Every naval man must
know the expence of an Admiral's fitting out as Com-
mander-in-chief of a home port, and bringing his family
from Scotland. I will venture to assert the Admiral is a
loser even when he removes from Portsmouth. Let the
Times ask the rich and poor at Sheerness how Admiral
Fleming behaved there. He and his family were liberal
in the highest degree. The rich lost a hospitable com•
par,ion, the poor a liberal benefactor.
I have sailed with Admiral Fleming as a perfect
stranger. I have received no favours, I have no earthly
claim to expect any ; but I owe it to public justice and
truth, to a thorough knowledge of the Admiral's zeal, ac-
tivity and integrity, to express my opinion cf his merits
and fitness for Greenwich Hospital, and to assure the Times

that in any rema►ks on the navy I feel perfectly able and
willing to accept the gauntlet, and not allow him to carry
all hie own way.
" He bites against a file—
Cease, viper 1"
Oct. 11. JUSTITIA.

1838:

1839.

Customs
Excise..
Stamps
Taxes

6,353,777 5,436,116
3,862,029 3,705,467
1,744,741 1,622,252
334,887 30e3,092
399,000 418,000

Post• of ce

Total

12,694,434 (11,489,933

x.. X.
5,469,271 5,778,006
4,093,959 4,113,150
1,751,476 1,699,724
328,045 311,283
410,006 407,000

12,052,751 12,308,163

What excess does appear, in fact, in the October
quarter of 1839 over that of 1838, arises probably from
the payments made in the former for duties on corn, so
that no real progress has been made, consequently, in
the last twelve months. The estimate of the amount of
Exchequer bills required to meet the charge on the
Consolidated Fund for the quarter just ended, which
represents the state of the account between the Bank of
England and the Treasury, is 4,818,000/., which differs
very little from that of the two preceding years ; but
where the expenditure avowedly exceeds the income, it
is well that the matter is no worse. In October, 1836,
this item was only 3,340,0001.

(From the Herald.)
The question of literary piracy is one, on which
it might be well that our legislators should be..
stow some attention. The offence increases rapidly ,
and its influence upon authors and publishers is of a very
mischievous character. Literary piracy is, in truth, a
crime of no ordinary magnitude. It inflicts, in the first
instance, cruel wrong on authors and publishers :—and
it tends, in a remarkable degree, to abuse the character
of the national literature. The excuse urged by the
pirates is, their desire to supply the public with " cheap"
literature." But, on what equitable principle, do these
men presume to " cheapen" what does not belong to
them ? If " the public" will have cheap literature,
let " the public," in the first instance, agree
with authors about their copyrights ; and having
satisfied authors, let " the public" please itself
as to the price at which the works of authors shall
be circulated. Until, however, this preliminary
process shall be gone through, the system on
which " cheap" literature is produced, is apt to
assume the attributes of a system of robbery. In all
such cases, too, the phrase " the public" is of suspicious
import. " The public," in reference to an author,
means the readers of that author's works. The public,
therefore, stands to him, as a producer of literary com-
modities, in the relation of consumers. The cause of
" the public," in reference to authors, resolves itself,
in short, into the cause of the idle consumers against
producers. It is the business of every wise Govern-
ment to uphold the interest of producers against the in-
;crest of idle consumers. The greatness of' a State is
upheld by the productive classes within its bosom ; end
the productive classes constitute, moreover, the most
valuable class of consumers. The system of " cheap"
literature—of literature, that is to say, cheapened
at the cost of authors—is most pernicious in every
point of view. If authors and publishers may not
be protected against piracy, authors and pub-
lishers will, necessarily, be driven to produce works
in the first instance, at so low a price, as to leave to
interlopers no chance of success in the attempt to un-
dersell them. But in order to sustain the heavy cost
incidental to the production of new works at a very
low price, authors must contrive to secure, immediately,
a very large body of patrons. In order, however, to
secure a large body of patrons, authors must, in the
vast majority of cases, pander to the basest ignorance,
to the most illiberal prejudices, to the most debasing
tastes. Authors, under such a system, must, in fact,
write down to the lowest standard of cultivation,
instead of aiming at conformity with the highest.
The test of excellence will come to be, not that
which is pure and elevating in itself, but that which
affords pleasure to the greatest number of people.
Literature will, in fact, cease to control and regulate
popular tastes. The most vulgar tastes will, on the
contrary, control and regulate literature. It is a cir-
cumstance worthy of note, that in exact proportion to
the diffusion of a taste for literature in this country, has
been the decline which all must recognise in the higher
departments of literary art. In works of imagination,
it is true—in novels and poetry of a particular kind—
no falling off, perhaps, may be discernible :—in works,
too, connected with the chemical and mechanical
sciences, the utilitarian, grasping, money-getting cha-
racter of the age has insured considerable progress. But
in that department of intellectual effort, which in-
volves painful processes of meditation, and which se-
cures no immediate reward in money to its votaries;
in that department—the highest, the noblest—the
present generation exhibits far less power than
did our forefathers of two hundred years back.
This falling off in the loftiest walks of literature may
be connected, we think, by a very obvious process of
reasoning, with the general diffusion of literary habits.
Be the effect of diffused literary habits what it may,
however, as to the effect of literature that is " cheap-
Fried" by means of piracy, there can exist no doubt.
Fhe act itself is simple robbery ; the effects of the act
are more pernicious than the robbery in which they
took their rise. The most valuable portion of every
system of national literature is that portion which is
addressed to the cultivated few. The literary works,
however, of which the cultivated few shall approve,
cannot be produced but at a great cost in money as
well as thought. A system of piracy renders the pro-
duction of such works impossible!

late harvest became apparent ? Here their duty was
plain before them. It was not the comparatively petty
interest of this or that banking or commercial establish-
ment that they had to deal with : here was a whole
nation in their hands ; depending on their foresight
for food, and on their activity and precaution to
save the country from all the difficulties and em-
barrassments which might be contemplated from a
partial famine. Was it not the duty of the Govern-
ment to know (how could they be ignorant of it?)
that it would be necessary to make large purchases of
corn abroad ; that these purchases must be paid for in
gold ; that the abstraction of so much gold from this
country, would necessarily and unavoidably oblige
the Bank of England to reduce the issues of its
notes, and thereby deprive the mercantile and
trading community of the means of carrying on
their necessary business transactions ? Is it possible
that the Government could be ignorant of the conse-
quences which would ensue from the drain of gold from
this country for the purchase of foreign corn But if
the Government could not be ignorant of this certain
effect, how great must the condemnation of that Govern-
ment be by every man interested in the monetary system
of the country, and who is not ? which has abandoned
the first duties of a Government, and laft that to chance
and the hazard of events which should have been the
chief object of its solicitude and care'.
(From the Standard.)
In addition to the various arguments enumerated why
Admiral Fleming, having confessedly seen no service,
should be preferred to hundreds of active, intelligent,
and gallant veterans, some of whom have fought more
battles for their country than he can number years, we
are told that he ought to have the appointment because
he belongs to a party which was neglected by the
Tories. If the rest of his friends preferred no
stronger claims upon their good-will than Admiral
Fleming, we should not have been surprised at their
rejection of him. But it is nevertheless untrue that
Admiral Fleming was ill used by the Tories.
He belongs to a class of candidates who ara not
easily to be overlooked, He was employed by
the Tories ; and this, by the way, reminds us of an
exploit, the only one worthy of being recollected,
which has been recorded of him. Whilst at Gib-
raltar, this officer, so scrupulous " in enforcing the due
performance of contracts," and so attentive " to the
health and comfort of British seamen," had actu-
ally the audacity to cut away the transom beams
of the Bulwark, the splendid ship he commanded,
for the purpose of enabling him to introduce into
his state cabin the luxury of French windows ; for
this piece of folly and impudence he was mulcted of his
half-pay until the expense of restoring the ship to its
former condition was fully liquidated. He was not, we
believe, employed again by the Tories. He may whittle
away now with impunity, so that he does not bring
Greenwich Hospital about his ears.

ELECTION OF AN ALDERMAN FOR
THE WARD OF DOWGATE.-(THIS DAY.)

In consequence of the death of the late Alderman
Scholey, a Wardmote was held this morning in the Tal-
low Chandlers' Hall for the purpose of electing a suc-
cessor. By ten o'clock the hall was wed filled by the
friends of John Johnson, Esq., who is so much re-
spected in the city as to be allowed to he the only can-
didate. Amongst those present we noticed Aldermen
Harmer, Gibbs, Thompson, and Humphery, Sir G. Car-
roll, Common Councilmen Nott, Anderton, Obbard,
Marriott, Amos, Hale, Wire, Pearson, &c. The Spec-
tacle•makers Company, of which Mr. Johnson is the
Master, with the clerk and chaplain, were also in at-
tendance.

At half-past ten the Lord Mayor arrived in state,
and presided.

The precept having been read,
Mr. Deputy BROWN said he hal much pleasure in
proposing a gentleman to succeed their a`e Alderman,
who would not only do honour to himself in tile office
of a Magistrate, but would confer honour on the Ma
gisterial chair. He was proud in having the honour of
proposing John Johnson, Esq., citizen and spectacle-
maker, to fill the office of Alderman for the Ward of
D owgate.
HUGH HAMILTON MORTIMER, Esq. seconded the
motion, which was put and carried with loud and gene-
ral acclamation.

There being no other candidate proposed, Mr. John-
son was declared duly elected.
Mr. Alderman JOHNSON then came forward, amid
loud cheering, to return thanks for the lifOs honour
that had been conferred upon him, in doing which he
addressed the meeting as follows :—My worthy friends
and fellow labourers of the ancient ward of Dowgate—
brother freemen and liverymen of this great e:ty, I beg
to return you my grateful thanks for the enthusiastic
manner in which you have placed use in the conspicuous
situation I now fill. I can assure you that it will be '
my endeavour to continue through life that straight-
forward conduct which, I am sure, has been the only
inducement to you to elect me to WI that high post,—
(Cheers.) Gentlemen, it is my intention to reside
among—(Cheers)—and be amongst you as ranch es
possible—(lncreased cheering)—and you will, always
find me accessible on every occasion you • require.—
(Cheers). I shall feel proud of the ilequaintaitee of the
most bumble persons in the ward—(Cheers)--,and it
skull always be my first desire to attend to their re-
quests.—(Cheers.) I shek make—it -my --cluty—to '
support all the Charities in the ward to the
best of my irbilities.—(.. Hear, hear,". and ('beers.)
Gentlemen, if I were ici-taik-ler-an'hOni,-1 could `no'
express the feelings of my heart on this occasion.—
(Cheats.) It shal always be my endeavour to support
the dignity of the office to which you Ilene elected me,
and also to support and maintain the peace and har-
mony of the Ward. In conclusion, gentlemen, I have
only to tender you my best and kindest thanks for the
high honour ycu have conferred upon me. The Wor-
thy Alderman concluded amid long-continued eheerinw.
Mr. Deputy BROWN proposed a rote of condolence
to the family of the late . Worthy Aldi man George
Seholey, Esq., owthe loss they'hadsustabied,accompu-
nied by the strongest testimony of respect and venera-
tion for the memory of that worthy individual. In doiag
this, the Worthy Deputy could not but express the pride
he felt in proposing so worthy a successor to a Gentle-
man who bad tilled the office of Alderman of that Ward
for 34 %Tars.
Mr. 'MORTIMER seconded the resolution, which was
declared by _ _

The Lon-) MAYOR to be carried unanimously

Mr. ALEX. NISIBLTT proposed the thanks of the
Wardmotb to the Lord Mayor, for his upright al..id im-
partial conduct, in presiding over the proeeedingN of the
Wardmote, the members of which, he was proud to say,
embraced that opportunity of offering to him, in common
with the gcnerat body of thcir fellow citizens, the hum-
ble testimony of their approbation for his diguiffed, able,
and highly beneficial services as Chief Magistrate of the
City of London.

The resolution having been seconded, and declared to
be carried,
The LORD MAYOR rose to return thanks for the
honour that had been done him. It was highly gratify-
ing to him upon retiring from his office to receive such a
meed of approbation from the ward of Dovvgate.—
(Cheers)—n ward, for the members of which he always
bad and ever would have the highest respect. He had
been intimately acquainted with their late venerated
Alderman for many years, and he felt bound to pay this
tribute to his memory, that when he (the Lord Mayor)
went out of town be was the only Alderman he could
find to be his locum tenens.—(Cheers.)
.171 e felt no,
doubt that theward of Dowgate felt proud of their choice'
of Mr. Johnson, to whose business•like abilities he could
bear ample testimony from the experience he had derived or
him during the time be filled the arduous office of Sheriff.
By his exertion, by his practical knowledge and ex—
perience, and the great attention he had given to the
gaols, the City had been saved an immenseexpenditur.!„.
for the original intention was to pull down the gao'.s and,
rebuild them ; and they all knew on whom the expense
of so doing would have fallen.—(Hear, bear.). His
fellow-citizens were highly indebted to him for f,be very.
able way in which he had discharged the duties of his
office of Sheriff, and he was certain that Mr., Jolinson'a
upright and independent conduct, and his amiable
woul,l endear him to every inl4abititut of the
three candidates
Warri.—( Hear,bear.) It was alsograii!'sving to think that
the Ward had been able unaninionsl:i %n
an Alder-
man, because when there were twee fi:-
arnr thn honourto
have
they l
for the office, divisions, prejudices, aigt ill feeling
created which it took a long time to re,nove. (the
Lord e
1 hadui
s Mayor)
a done
marl:
'or) thankednti thehe esteemed.a-ardo teit
greetlo reward
o f respect from so respectable and
h o flc): rtabbe
l ee
motionbo dy
Mr. t
GA
nter.—T.
BevaLrL, hear,avote
of h ear.)
On
of the Tallow Cehra:ndler"s'detn'o%;Pa)dt,
was given to the Mast W tLanks
3(...:zurrtthoir:, Assis-
tantsuseo
the Hall.

(FROM THE EVENING PAPERS OF YESTERDAY.)
(From the Globe.)
We have never cpprehended any the slightest dan-
ger from the Oxford Tract school--excepting to the
cause for which they thought they had discovered
new weapons. There has been none of the craft. of
Jesuitism about their proceedings—the publication of
Fronde's Memoirs alone was a piece of polemical indis-
cretion sufficient to show that the coterie were only
anxious to let us know all about theta, and confided
solely in the supposed truth of their notions for victory.
We have not, therefore, been able altogether to under-
stand the alarm which the publication of those notions
excited in many quarters. So far as the Oxford co-
terie stated their views boldly, they deserved credit ;
and no opponents need have been disturbed by
their boldness who were not afraid to do the like,
and trust to the force of truth for the issue. One
result of the Oxford heresies, as they are loudly
termed by so many Churchmen, we observe with consi-
derable satisfaction. The zealous and unqualified repro-
bation bestowed on them has tended to effect a useful
diversion of the disposable zealotry which might other-
•_,!.!:-__l_,--7-_- ......-- -
wise have been wholly expended on the " Papist" and 1 ' THE 'WEATHER.
" Infidel" measures of Government. It has besides
I'. of remarLable brilliancy summer-like day, L -We have another warm
Tar st night aboo.itrany appe trod in
cigltt. o'cicck, an
shown conscientious but impartial persons the folly Aurora Bare:lL
of attaching much weight to denunciations against the Eastern '
seeded F'
item.v.)pliere. During the night there suer
measures, as hostile to the Church, from parties who
T. JIIIC heavy rain.
ever and anon employ themselves in denouncing with
fiE LATE MURDER .AT DEPTFORD.—
equal zeal a leading section of Churchmen as hostile to 1' as being con-
Protestantism ! If Government, in their well-intender'
c i a Friday the nine Frsors in custody,
corned in this melancholy transaction were brought be-
efforts to reconcile the rights of the Church NSi
tb‘,
_ the lore the Magistrate, at the San Inn, Deptford. So-
rights of conscience, and both with the cause „ i .
struction, expose themselves to such language.' ar -i
Are in_ i'eral of the prisoners were subsequently bailed, and the
we have remainder were removed to the station-lionse.
lately heard lavished upon them, it is co s I n.oP:
cory to find TH E DOCK BRIDGE. Great complaints have
that just as bad language is bestowed
i inconvenience
made by the inhabitants in the easteru
they pm
conflicting Church parties, as ... On each other by been frequqnt!y
el hiidges of the
the Government.
(From the Cotoier.)44 beslewing upon 'part of the metro,-0::s of the delay an
Yand ,f. 15...1.i.t ..e Docks ..re allowed to be
tile lengilt of time the swiv
We contend that it has , cLaounsdepdnb
noracce or supineness of
been ow: •
.ng either to the lg.- kept open for the entrance of ships at craft througki
the Government or to bot)1 the various locks.
combined, that the recent commercial embarra' ;s- I Mr' 11. Owen, of New
Lnnarl:, who has taken
is
mentstill was allowed
to
ad take place,
ogo on. and that it a large tract of land at East Tytherlev, near Ste4r-
Governmentllowe t
about when the dArV. h a t was -clie ;:ridge, is expected with a btrly of his followers about
Il'ili:iliire Inclepetulent.
e iciency of the the latter end of this month.—

The Master of the Company returne-A
It was then resolved, that the proceedings of the
meeting should he published in es:e'a of the daiiy papers,
and the meeting separated.