The Sun.
London, England, 1839-10-09 00:00:00

StTN, LONDON. WEDNESDAY, OCTOBER 9, 1839

nental currencies. The exclusive use of gold in the main
payments, which is strangely enough considered as a de-
fect,[is the perfection of the British currency. There is
no use for more than one measure of value—it is much
convenient net to haVe more. The use of two mkitalh is
apt to introduce confusioh from theik varying valite in re-
gard to each other; and giild answers perfectly all the
purposes of a measure, while silver is confined to thes sub
ordinate duty of the smaller payments. On the ame-
principle that we recommend silver, why not inttoduct
copper, which in early times is frequently employed as the
standard, but has been invariably disused with the progress
of society ? In the Continentarcurrencies silver is neces-
sarily used in payment of large sums, because society has
not made the same advances as in this country ; and such
is the nature of the cash transactions that they could not
be conveniently settled except in this medium. It is the
coin in which the payments of the great mass of the people
are made ; they seldom deal in gold ; and hence it is of
necessity in such abundance that it must be used in the
main payments, though it is evident they could be more
conveniently settled in gold. This is not the case in this
country ; and silver, though it were forced into the circu-
lation, would soon disappear, as not being suited to the
nature and general amount of the payments that are to be
made."

Our Contemporary calls our suggestion rash,
because it is not suitable to its own taste. We

will examine its assertions. -
" The exclusive use of gold in the main pay-
ments," it says, " is the perfection of the British
Currency." Subsequent to making that assertion
it States a number of reasons for it, such as the
great advances made in our society, the nature of
our cash transactions, which could not be conve-
niently settled in silver, &c. &c. That might be
good if it were true. The fact is, that nineteen
out of twenty, perhaps nine hundred and ninety-
nine out of a thousand of our transactions are
settled neither in gold nor in silver, but in paper.
It is as easy to write one thousand ounces of silver
as two hundred and fifty sovereigns, or ounces of
gold, and, therefore, all the presumed advantages
of a gold over a silver, or over a copper currency,
exist only in the imagination of the writer. Pa-
per and not gold, bankers' books and not bullion,
checks, drafts, post-bills, bank-notes, &c., are the
real instruments for settling nearly all the pay-
ments of our community.
There is no use, says the Courant, for more
than one measure of value, and gold, it implies, is
the best. The fact, however, is, that every one
thing bought and sold is a measure of the value of
other things, and gold is as much measured by sil-
ver as it measures silver. It seems to us a mis-
take to suppose, that there can by any possibility
be any one measure or standard of value. The
British Legislature, indeed, has hunted after such a
measure, and has decreed that it shall be gold. We
are great believers in the perfectibility of man ; but
the practice of the legislator, in fact, far surpasses
our most sanguine theory. He resolves, though the
whole history of our species disproves the accuracy of
his resolution, that there shall be no wrong-doing in
his society, and he makes laws avowedly for the sup-
pression and prevention of crimes; he covers the
land with goals and policemen, puts society to an
enormous expense for hulks and penal colonies,
and, alas I he fills the community with crimes and
criminals. He considers poverty as a reproach,
and he reduces men to paupers, by the taxes he
levies to prevent pauperism. In like manner he
resolves there shall be only one standard or measure
of value ; he decrees it shall be gold, and the re-
sult is oscillations of price, which set at defiance
the most astute calculations, and alternately re-
duce the different clasSes of producers to beggary
and despair. Such has been the case of England
since the gold standard was established. There is
no treason, therefore, against either her MAJESTY'S
Crown, or against good sense, in supposing that there
may be some use in more than one measure of
value.

Gold, the selected measure, is the produce of
comparatively limited spaces ; at least, though it
may be extensively diffused through the earth, it
can be worked to advantage only in a few spots.
It requires a great deal of labour to procure it, and
is comparatively of small bulk and great value.
From its inherent qualities it is, and has long been,
almost universally employed as money. Now; from
these circumstances, it is more liable to fluctuations
of value than silver. It is that one of the two
metals which is most easily transported, and as the
rule, therefore, is employed to balance the payments
between nations. From that circumstance its value
in any one spot, independent of the increase or
diminution of trade in that spot, is liable to conti-
nual fluctuations, and being so liable it becomes a very
bad exclusive measure of value in any one country.
Because it is the product of limited spaces, the
quantity obtained, like the harvest of one field, or
one parish, is liable to great fluctuations. An
equal quantity is not obtained from the mines and
brought into use every year. As the quantity
thus fluctuates, so doeS the value. As the selected,
but not decreed, measure of valbe between nations, we
do not deny jts.advantages ; but, employed as the
exclusive measure of value in any one nation, it
exposes that nation to all the fluctuations occasioned
by the variations in the quantity of gold produced,
and by the variations in the demands of commerce for
it all over the world.

By using two measures, we should limit and les-
sen these fluctuations. If more than two measures
could he employed, the fluctuations would be still
less. Moreover, silver is more abundantly pro-
duced than gold. The annual produce of the
metab.therefore, is more equal; being more abundant
and more equally supplied, and not being employed,
like gold, to equalise the transactions of different
nations, it is much less liable to fluctuate
in value, in any given spot, than gold. For these
reasons, amongst many others, we earnestly press
on the mercantile classes, if they desire to have their
transactions regulated by a measure as little as pos-
sible liable to variation, the propriety of using silver,
as well as gold, as the measure of value. Having
frequently heretofore revolved the subject in our
,
thoughts, we cannot agree with the Courant tnat it
is rash to take this opportunity of suggesting the
adoption of silver. Our proposition would, we
believe, have this pre-eminentadvantage, of reducing
the price of gold, and making it easier to pay debts,
without any person being sensible of a disadvan-
tage. With singular ignorance and incapacity our
Legislature in 1819, when it established the clearest
metal as our standard, by making it exclusive, and
adopting measures totally to prohibit the equal cir-
culation and use of silver, enhanced that dear
standard probably three to five per cent., and so
added to all the burdens of the country, and to all
the disasters its ignorance and rashness inflicted on
the community in 1819 and every year since.

During the late crusade against the education of
the people, the Church was supported, and even
outrun, in its unchristian course by a large propor-
tion of the Wesleyan Methodists, who we verily
believe, were led astray by the ill-deserved confi-
dence which they reposed in their ministers. The
latter misunderstood, or pretended to misunderstand,
at all events they grossly misrepresented, the nature
of the Government Plan of Education, and sounded
the alarm of Popery and infidelity throughout all
their borders. Petitions, ready cut and dried, were
transmitted from London to the various congrega-
tions in the country, and were signed by the people,
at the instigation of the District Superintendents
and Local Preachers, without any examination. The
zeal of the Wesleyan Methodists in the cause of the
Church was the laudatory theme of every Tory tongue.
" Our Wesleyan brethren" were in such odour with
the Times, the Herald, the Standard, and other
organs of the faction which stands up for popular
ignorance, that a careless observer would have been
apt to suppose that an alliance, offensive and de-
fensive, bad been entered into, and a cordial, almost
an incorporating, union established, between the
Church and Methodism. Whether the Weslevans
flattered themselves that there was any foundation

for this apparent good will on the part of the
thUrthi we cannot say; But this Vice know, that it
they tlidif they imagined that sht had for, one
inoinait related an atom of that bitter hatred which
she entertains for all who have left her communion,
and especially for those who have strayed the
Bhottest distahee from the fold, they Were egre-
giously mistaken.

If we wanted any proof that this hostile feeling
exists in all 118 liii.7eteea6y, We lidVc only al
open the publications which speak the sentiments
of the Church on this point. In another part
of our Paper we have inserted some extracts from
a periodical of this class, which set forth the merits
which " our brethren," the 'Wesleyan Methodists,
possess in the eyes of their kinsmen of the Esta-
blishment. We need not say that the picture of
Methodism, drawn by the Church Magazine, is
not a correct likeness. The Wesleyans are, we
believe, neither better nor worse than other men ;
but we think it of some importance to them to
know what their friends of " the pale" think and
say of them. It is also of importance that the
public should thoroughly understand and appre-
ciate the spirit of intolerance which actuates the
Clergy of the State Church, and which is insepa-
rable from the establishmept of a dominant sect.
We do not know that we could have given a
stronger instance of the tendency of Church-and-
State religion to stifle every sentiment of kindness
and charity in the hearts of its ministers, than is
afforded by the extracts to which we have alluded.

In another part of the paper will be found an
account of a splendid gathering of landlords and
tenants and farm-labourers, held at Inverness, not
for the purpose of getting up petitions in favour
of Corn-laws, or exciting one class of the commu-
nity against another, but for the noble and useful
purpose of advancing the interests of agriculture,
improving the breed of cattle, and pointing out to
landed proprietors the only certain and independent
way of obtaining good incomes without putting their
hands into the pockets of their neighbours. The
Duke of RICHMOND, Lord HATHERTON, and
others, possessing large landed property in Eng-
land, were present, and they will profit, we trust,
by the example. The Marquis of TWEEDDALE
pointed out to these Southrons the best way of
dispensing with the Corn-laws, namely, by en-
couraging profitable agricultural pursuits. This
is the second lecture he has given them
on this subject. The first was in pre-
sence of the English Agricultural Association
at Freemason's Hall, when they invited a Tory
landlord to come and assist at their deliberation ;
and while they expected him to join in praise of the
Corn-laws he cursed them altogether. It was the
old story of JUPITER and the Carman, condensed
into the French motto—" Heaven will help you
when you help yourself." The meeting altogether
exhibited a splendid display, alike creditable to the
industry, intelligence, and independence of the
landlords and farmers of the North.

German Journals of the latest dates have been
received this morning. Letters from Athens state
that an English and French company, at the head
of which appears the respectable name of M.
HUMANN, has entered into negociations with the
Greek Government, for the establishment of a
Bank in Greece. In no country in the world is a
Bank more wanted. For the want of the accom-
modation which a Bank could readily and profit-
ably supply, extensive tracts of the finest land in
the world remain out of cultivation, the owners
having no capital to purchase farm stock.
A letter from Cologne, of the 24th ult., states
that the Roman Catholics of that city lately pre-
sented a petition to the KING for the release of the
ARCHBISHOP. To this petition an answer was
returned, setting forth the clemency and long-suffer-
ing of the ICING, and justifying the detention, of
the *Ancitsisuor, but stating, in conclusion, that
if the Itomish Clergy did their duty as lawful sub-
jects, his MAJESTY would be careful that nothing
should be done by the Government in violation of
the rights of the Roman Catholic religion.
DUTCH FUNDS.—AmErreanam, OCT. 7.
Actual Debt, 234 per Cent Money. Bills
52S 53
Ditto, ditto 5 per cent.
A inert Syndic, 4 percent, N..6 95
Ditto, ditto, 3% per cent 72% 79,E
Commercial Company, 4% per cent ...... 172,
D. tto c 185312, npde cent 5.
.........
Loan 1837, 5 per cent. • .............. .
Exchange on London, One month ,II 87%
Two months
—Dutch Papers, Oct. 7.

The Moniteur of Monday publishes a telegra-
phic despatch from the frontier, announcing that,
on the 30th ult., the Spanish Government presented
to the Senate a project of law for a general and
complete amnesty for all political offences committed
since the commencement of the civil war. This
intelligence appeared in our Second Edition last
night, accompanied by a statement made on the
authority of the Committee appointed to draw up
the project of law in question—namely, that ten
individuals, including CABRERA, the Count D'Es-
PAGNE, and Father CYRIL, were excluded from
the benefit of the act of amnesty. This statement
is not confirmed by the Moniteur, which leaves us
to suppose that the amnesty is without any limita-
tion whatever. This, as the National observes, is
a wise and salutary measure ; and, if faithfully exe-
cuted, will establish the superiority, in clemency and
generosity, of the half African Government and people
of Spain, to the French revolutionary Government of
July. A general and complete amnesty, after six
years of civil war and atrocious reprisals, most of
the actors being still living, contrasts strangely with
the policy of condemning the dupes of police in-
trigues, and the participators in petty riots, to lan-
'guish for the rest of their lives in dungeons or in
exile. This is a view of the question which every
liberal Frenchman must take, if he look at it at
all ; and we are not surprised to find the National
among the first so to represent it.
The same Journal announces that the Infante,
Don SEBASTIAN, has received passports for
.Naples. This Prince has had some misunderstand-
.ing with Don CARLOS, his uncle, in consequence
of which he applied to the Tuilleries for passports
for himself and suite, pledging his honour not to
interfere any more in the affairs of Spain. King
Lows PHILIPPE, on receiving this assurance,
ordered passports to be delivered to him. This
intelligence is said to have struck Don CARLOS
and his family with dismay. The National re-
marks upon this affair, that the conduct of the
French Government is incomprehensible, unless
the demand of the Prince was supported by Foreign
diplomacy. Don SEBASTIAN was known to the
Court as a man destitute of honour. He was
known to have sworn allegiance to the QUEEN, to
have taken out passports to Italy, and to have left
Naples.of his own accord to join the rebel troops
of his Uncle CARLOS in fighting against his So-
vereign. He was a traitor, not from necessity, but
choice. But Don SEBASTIAN unites with his
penchant for treason as moderate an appetite for
hard fighting as CARLcis himself ; and as for his
abilities in the Cabinet, an allusion to them was
wont to excite some merriment at the mock Court
of Estella. We do not, therefore, quite agree with
the National in supposing such a man, now that
his worthlessness is generally known, more dan-
gerous at Naples or at Rome, than in the centre of
France.

The French Journals are much occupied with
the Eastern question. The Constitutionnel has an
article exceeding a column in length on the alleged
secret alliance of England and Russia (!) to para-
lyze the generous exertions of France. M. DE
PONTOIS, the new Ambassador to the Porte, is
reported by the Presse to have received precise in-

ttructions drawn up in quite a new spirit. The
French Government declares itself frankly and
openly in favout of ME-HEMET ALr, but will aet
in his Gehalf in d friendly, and not in an official
manner. It will gUarnnteo t 4 hill.) the hereditary
possession of Egypt and Syria, but pent:lade him
to renounce his claims to Adana and Tarsus. The
Brig cinferted du M. DE PONTOIS the title of
Count before his setting out us the nergsentßtive
of France at the Potte:
The Echo de Portent states that Mr. GEM: GE
LLOYD HODGES, formerly British Consol-Gere-
ral in Egypt, has returned to that country in the
same official capacity.
The news from the Spanish frontier is not im-
portant. From Madrid the accounts are that if
the Chambers refuse to grant the fueros without
limitation, Ministers will have recourse to a dissolu-
tion of the Cortes. It does not appear at present
that any such course will be necessary, as the Go-
vernment meets with nothing but support, oven from
the Exaltados.

On the 2d inst. Father CYRIL and M. DE
ERRO, late Ministers of Don C A RLOS, arrived at
Montpelier.

(From the French Papers of Monday. )
A meeting of the shareholders of the Haytian Loan
took place on Sunday in the Great Hall of the Paris
Bourse. The assembly was very numerous. After a re-
port, made in the name of the Committee, respecting the
object of the meeting, several despatches addressed to the
Committee by the Haytian Government and M. J. Lat.-
fitte were read. They contained the following proposi-
tions of that Government to effect the reimbursement of
the loan :

" 1. An annual lottery of 600 annuities, payable at the
rate of I,ooof. during seven years; this number to be
afterwards increased by the amount of the interest
paid off.

" 2. The payment of 30F. per annum, for the interest at
three per cent, of a year's interest due on the Ist of July
last.

" 3. On the Ist of January next 15r. per annuity, to be
paid for the six months due on that day, and so on, etery
succeeding six months."

M. Martin Laffitte, who represented M. J. Laffitte at
the meeting, confirmed this announcement, and added that
the above proposition would be shortly carried into effect.
The Assembly unanimously acquiesced in the offer, with
which all present appeared satisfied.
BOURSE.—PARIS, MONDAY, OCT. 7.

first Highest 11.otvesi. Last
Price Price. Price. Price
French 5 per Cents llO 75 110 75 ... 110 65 ... 110 75
4 per Cents lOl 60 ... 101 6tl ... 101 60 101 (10
3 per Cents Bl 45 ... 81 55 ... 81 45 ... 81 55
Laffitte Bank I,ooof. Sh lO6 1 ...108.1 ...1057 50
Belgian 5 per Cents lOl% ... 101% ... 101% 101%
Bank 773 775 ... 775 775
Cmpons
Spanish Active Si4 31Yit ... 31U, ... 31%
•
Passive 8 ... •.. 8 •••
01(1 Deferred 9 ... 9 ... 9... 9
Neapolitan
Roman 103% ... 103.,fi 103 )93%
RAILWAY SHARES.
St. Germain ..............» 565 ... 565 ... 560 560
Versailles, 11 B 530 ... 530 ... 525 525
LB 305 ...30.1 ... 300 300
Havra
Strasburg to Bale .. 310 ... 310 ... 310 310
Montpellier to Cette 375 ... 375 375 ... 375
Mulhausen to Thann 3BO ... 3.,2 50 ... 380 ... 382 53

INSOLVENT DEBTORS' COURT.

(THIS DAY.)

A STAGE-PLAYER IN DIFFICULTIES.—Newton
Treen Hicks, one of the performers at the Victoria
Theatre, who described himself in his schedule as a
stage player, and not as a comedian or tragedian, ap.
peared this morning on the stage of the Insolvent Deb-
tors' Court, to take the benefit of the Act, upon his pc-
tion to be discharged.

The CHIEF COMMISSIONER, after inquiring of the
insolvent where he had resided, observed that when the
broker of the Court went there, he could not obtain
admittance.

The insolvent said that that had been caused by his
wife being from home.

The CHIEF COMMISSIONER.—DO you occupy the
whole house.

The Insolvent—No, Sir, only the first floor.
The CHIEF COMMISSIONER—Have you any theatri
cal engagement at the present time ?
The Insolvent—l have, Sir.
The CHIEF COMMISSIONER—Has your wife ?
The Insolvent—No, Sir.

The CouRT then ordered the insolvent, who had
been out on bail, pursuing his theatrical avocations, to
be discharged. The consequence, therefore, was that
the " benefit" for the insolvent was completely success-.
ful, as it relieved him from the payment of debts to the
tune of 2001. Three causes were assigned by the in-
solvent in his schedule for the necessity of his taking a
benefit in this Court—first, inadequacy of income,
previous to 1837, no profits from the Richmond the-
atre, of which he had been proprietor, and law charges.
• MORE ACCOMMODATION BILLS.
Mr. Edwards, .an unopposed insolvent, applied to be
discharged. He, like the greater portion of the appli-
cants to the Court, had accepted accommodation biils.
The CHIEF COMMISSIONER told him that he deserved
no pity for his imprisonment, nor did any man who ac-
cepted accomodation bills when he was not able to
meet them.
The insolvent was discharged.

THE WOODEN PA VEMENT IN THE OLD
BAILEY.—(THIS DAY.)—The numerous accidents
which have occurred in the Old Bailey since it has
been paved with wood, has at length awakened the
slumbering of our City authorities to the expediency of
making some alteration in that particular, and workmen
were this morning employed in " .notching" the wooden
blocks, which will in future render tile footing good both
for persons and cattle, and will them by, in a great de-
gree, prevent the recurrence of those accidents which
it has been our painful duty to record.
On Saturday last, while a gentleman was enjoy-
ing the sports of the field about seven miles from
Glasgow, he brought down, among other game, a snow
white cock pheasant. The bird is prized as a curiosity.

AGRICULTURAL MEETING.—Ott Tuesday a
numerous meeting of farmers and gentry residing in
the south-western division of the county of Surrey took
place at Chcrtsey, to celebrate the fourth anniversary
of the Chertscy Agricultural Association. In the
course of the day a ploughing match took place at Kerd-
wich Court House, and the skill evinced by the plough.
men afforded a gratifying spectacle. The prizes were
afterwards delivered to the successful competitors by
Colonel Challoner, the High Sheriff of the county, with
a suitable address. At the same time prizes were deli-
vered to servants who had behaved themselves well
during a long period of servitude. After this portion of
the business had been concluded the company adjourned
to the Swan Inn, Chertsey, where about one hundred
gentlemen sat down to dinner. The Right Hon. Sir
W. Fremantle presided.
SALE or A WOMAN.—On Monday a woman,
respectably dressed, was offered for sale in Rotherham
Market-place. She came forward with a halter round
her waist underneath her gown, the end of which was
passed through her pocket hole. There were several
bidders, and the woman bade fair to fetch a good price.
When the bidding had reached 4s. 10d., however, the
constables made their appearance, and the woman fled
and took refuge in a house up the Crofts, leaving the
auctioneer no other resource than to dispose of her to
the last bidder. We understand that he had gone from
Sheffield for making the purchase, and she, understand-
ing that the constables were only there to prevent a dig-
turbance of the peace, surrendered herself to her new
master, and they proceeded together by the railway to
Shefficld.—Rotherham Independent.
COURT OF REQUESTS.—Whoever takes the
trouble to look in upon these Courts discovers at an
elevated table a number of thin and stout, an assort-
ment of rubicund and pale personages, dispensing, in
the character of Commissioners, sometimes something
more than substantial " justice" to the numerous suitors°.
One remarkable peculiarity appears to attend one of
these Courts, namely, that the right-hand supporters of
the Chair, and the left-hand supporters, like the antago-
nist principles of oil and water, are in unchangeable op-
position. Itis in the nature of a phenomenon to find
that both sides agree, on any one question, and when
they "do agree, their unanimity," as Yu' says, " is
wonderful." That such is the situation of matters,
more than one party brought by business to this Court
has occasion to bless his livdcy stars.