The Sun.
London, England, 1863-01-09 00:00:00

ROYAL ENGLISH OPERA, COVENT-
GARDEN.
Under the Management of Miss Louisa Pyne and Mr. W.
-Harrison. Sole Lessees.
THIS EVENING, to commence with [WY BLAS :
Louisa, Pyne, Miss Susan Fyne, Miss Thirlwall. and Madame
Laura Baxter ; 3lessrs. Santley, PaieY, Lyall, AynsleyCooke,
E. Dussek, and W. Honducrtarson.
Cior—Mr. A. Mellon.
After which, the Grand Comic Christmas Pantomime, en-
titled HADRLEQUIN
en BEAUTY AND THE BEAST.
Doors op at half-pas t 6—Commence at 7.

THE AT RE-R OYA L, DRURY LANE.-
Lessee and Manager, Mr. Edmund Falconer.
THIS EVE iI:NG, the Comio Drama of THE NEXT OF
KIN.

After which, the Grand Pantomime of LITTLE GOODY
TWO SHOES.

Commence at 7.

TREAT EE-RO 't Al., HAY MARKET.
Lessee, Mr. J. B. Blackstone.
THIS EVENING, at Seven o'clock, will be performed.
OUR AMERICAN COUSIN. Asa Trenchard, Mr. Buck-
stone ; Lord Dundreary, Mr. Sothern.
Alter which, a new and original Extravaganza, entitled
RASSELAS, PRINCE OF ABYSSINIA; or, The Happy
'Valley. Rasselas, Miss Louise Keeley.
Concluding with MRS. WHITE.

LYCEUM THEATRE ROYAL, Will OPEN,
under the Sole Management of Mr. FECHTER, on
SATURDAY, January 10.
_._ _

The perfermances will commence with an Orizinal Sketch,
entitled A SUDDEN ATTACK, in which Messrs. Shore,
Garden, IL Widdicomb, Miss Henrade, and Mrs. Lee will
appear.
After which, at a Quarter to Eight, a New Romantic
Drama, in Three Acts, and Pr3logue, entitled THE
DUKE'S MOTTO, by Paul Feval and John Brougham,
Esq. The principal character will be sustained by Mr'
Fechter, supported by Messrs. G. Pining, J. Brougham.
Widdicombe, 31'Intyre, F. Charles, Garden, Raymond. E.
Butler, Dawson ; Misses Carlotta Leclercq, Kate Tern',
Lavenne, and Elsworthy.
engaged, and
Mr. Phelps and Mr. Walter Montgomery arc -
will shortly appear.
rformance to corn-
Doors open at half-past Six o'clock, P 1 c;d and £2 25.
mew at Seven. Private Boxes,
4a2 s Circle, ss. (3d.; Upper
Places registered. Stalls, 6s. 6d. ; Cs. ; Dress Circle, ss. ;
Circle, 4a. 6d. Prices at doors—Stairs,l,To half-price. o(}
office ircle, 4s. ; Pit, 2s. ; Gallery, I
Staett.
ge-Manager, Mr. a
office open daily from 1I tri.llls Barn
Vining; Acting-Manage:?_—

NEw-ATHIT, TIM-ROYAL, ADELPHI.-
- Sole Proprietor and Manager, Mr. B. Webster.
TFIIS
LNG' A TICKET OF LEAVE : Messrs. J
I. Toole. r•
Bedford, and Mrs. Billington.
MARGERY DAW.
After which,
To conclude with " GEORGE DE BARNWELL :
ilarlevin Folly in the Realms of Fancy." Miss Wool gar,
amiss jc, Kelly, Miss Seaman ; Messrs. J. L. Toole, P. Bed-
ford, suphenson, C. J. Smith. Harlequin, Mr. John Lauri;
Coltunbine, Miss Caroline Adams ; Clown, Mr. W. Hildyard
s'a ntaloon, Mr. J. Paulo. The celebrated Arthur and
Bertrand.

Commence at 7.

U OYAL PRINCESS'S THEATRE.
Lessee and Manager, Ur Linda,.

THIS EVENING, THE TRIPLE ALLIANCE. Mr. H.
Marston, Mr. Wallace ; Miss Constance Aylmer, Miss M.
Oliver. and Mrs. B. White.
_After which, the New Grand CHRISTMAS PANTOMIME,
" RIQUET WITH THE'TUFT ; or, Harlequin and Mothe-
Shipton." Mr. G. Belmore, Mr. C. Seyton, Misses Gray and aand
Hudspeth, Mr. Milano, Mr. R. rower, Miss A. Collinson,
Mr. 'Milford.

The WEATIEEIL—Sun Office, Jan. 9, 1863.

THERMOMETER.

---
Highest since 'Noon yesterday 4l
Lowest during the night ..
This day at Noon 3B
Barometer-29.73.
.Wind--Southeast, light. Weather cold and dull.

HIGH WATER AT LONDON BRIDGE.
This DAY._-Morning, 4h. 40m.—Afternoon, 4h. 65m.
To-monnow.-Morning, sh. 10m.—Afternoon, sh. 30m.

P • •
r 4%
7, •ib e -141,1110
-

LONDON, FRIDAY, JANUARY 9, 1863.

The soldierly courage of the Federals at Frede-
ricksburg has at last been disputed. An eye-wit-
ness, who beheld the successive attacks and repulses
from a station on the north of the Rappahannock,
commanding the best view of the whole, gives a
mortifying account of the " skedaddling" of nearly
all the northern battalions, as they came actually
under the Confederate fire. It is mortifying be-
cause, as Englishmen, we feel a pride in the steady
courage of our own race under all circumstances,
and because we like to see disaster, if disaster must
be, without dishonour. Notwithstanding the re-
ports of General Brzelanaz and the thanks of the
PBASIDENT, it is difficult to refuse credit to the
circumstantial accounts of the Canadian surgeon.
Ile says, too, writing from headquarters, that the
highest officers " do not pretend to conceal that the
Union forces never fought so badly." He denies
the impregnability of the positions, and believes
that a European army of one-fourth the Federal
size would have "carried them with a rush." He
denies that the position of the Confederates could
be compared at all, in point of strength, with that
of the Russians at Alma, so promptly carried by
the Allies; tells us that the attacking divisicns
turned back, more like mobs than soldiers, and
that the greater part of the loss was among the
skulkers at Fredericksburg. This last remark
looks to us most like gratuitous supposi-
tion ; moreover, it was what the spectator from
" Philips Mansion" could not possibly see. The
cause of all this " carnival of cowardice," as the
Canadian doctor terms it, he conceives to be the
raw character of the recruits who formed the greater
part of the army. They were only in small part
the men who had been disciplined and seasoned in
.I.NI‘CLELLAN's campaigns, and the great numbers
who were frightened at being the first time under
fire threw all the others into confusiol. He tells
also that the Confederate line was so long that he
seems to justify BURNSIDE from the general charge
made against him of imprudence in venturing on
the attack, since it ought to have been pierced, as
the general intended, without serious difficulty. If
so, the PRESIDENT, however, in the surgeon's view,
he erred in matter of fact in praising the courage
of the troops, did not err in describing the failure
We must leave the question
as an " accident."
where it stands. An unknown spectator of the
fight attributes the failure to the dellciett courage
im
of the troops, the military officials to the preg.
nability of the position, and the PRESIDENT to
accident. Possible there was in it something of all

three.
But whatever might be the want of military
courage at Fredericksburg, there seems to be no
want of financial courage at Washington. Mr.
Secretary CHASE does not flinch from the most
formidable financial undertakings. The Committee
of Ways and Means asks of him a bill embodying
his views; he fearlessly sends there one for not less
than £180,000,000. Of this huge amountX6o,ooo,ooo
is to meet the expenses of the current year, that is
till next June, the remaining X 120,000,000 are for
the year which is to terminate in June, 1864.
Whether human recruits
ccan be obtained in snifi
leat numbers or not, Mr. CHASE is AsE quite dater-
mined that the paper sinewsofwar shall not be
wanting. The pecuniary
temptation
heg.
to bounty
seekers, and to contractors, is not to be
wanting.
He may be, indeed, quite sure, that so long
can show by any devices, a full treasury, thereas
will
be no want of stout advocates for perseverance in
the war. It is also prudent for him to get, if he
can, the supplies voted till 1864 by the present
congress. After March the Democrats will be in
power ; and were an extra session then convened
to provide the " ways and means," they might bring
the war to a standstill at once by parsimonious
votes. The Appropriation Bill to be voted by this
Congress cannot, however, we believe, extend over
the close of this year, when the Democratic Con-
gress will assemble ; but if the " ways and means'
he has provided extend to the following Jure, i
will not be easy to prevent existing supplies fronit
passing into the hands of the
PRESIDENT.

Mr. CHASE'S reliance for raising the money ap-
pears to be entirely loans, under different names.
The total of the produce of the innumerable taxes
he therefore, no doubt, expects will be consumed in
meeting the interest of former loans, and of those
which he now proposes to raise. A favourite mode
appears to be, still, a kind of Exchequer Bills, as we
should term them, bonds bearing seven and a half
hat rate being selected because
per cent. interest-4

for a fifty dollar bond the interest is just a cent
(one halfpenny) per day, and proportionably for
larger amounts; rendering the daily value of the
bonds a matter of such easy calculation as to make
them as commercially convenient as simple money.
To this old plan he proposes to add now a small
bond or note circulation, bearing 3.65 interest, or
half a cent per day. These bonds, though proba-
bly creditors would, generally, be but too glad to
get them, Co not seem to be "legal tender." That
privilege Mr. CHASE reserves for "Legal Tender
Notes" bearing no interest.

This last proposal, if carried out, will be the
most important commercial event of the war. He
does not appear to think of
proposing to make
these notes redeemable in gold; their security is to
be, if we understand the brief accountountht
ecorreetly
United States bonds. should
Thus,
Govern-
ment issue the "legal tender notes" in excess of
the wants of trade, they will come back to its
hands to be replaced by bonds bearing a
heavy interest. Now it is obvious that in this
was, unless the " Legal Tender" issues be carefully
limited by Congress, the Administration might,
through them, raise a loan to any extent it pleased.
It would merely have to issue its notes ; and, when
they came back, through redundancy, to exchange
them for interest-bearing bonds, and the country
would be saddled with a loan to that extent. Mr.
CHASE proposes to authorise banking associations
throughout the States, to issue these notes. The
associations to be responsible for paying them in
the first instance—we presume by holding a suffi-
cient capital of United States bonds—and of course
the Government to be ultimately responsible. Thus
these banks, in proportion to their issues, would be
compelled to take the Government loans. The
whole scheme is a complete subversion of the JACK-
SON policy, of refusing to Government the power to
issue money. That policy was adopted for purely
political reasons, the ft ar of leaving so much power
in the hands of a rival political party being the real
motive. Travellers in America have all found the
consequences of it to be, to the last degree, incon-
venient. Dollars are a cumbrous currency, and
there is no paper which passes universally current.
All describe it as a hopeless study to ascertain
in one State the banks whose paper is of full
value in another. The traveller has to sub-
mit to discounts, and not unfrequently to
the rejection of his note as worthless ; and even
Americans themselves, in passing to somewhat
distant localities, are frequently at u loss. Should
the war issue in leaving the country in possession
of a universal Government paper circulation, it
will at least confer on it one commercial benefit.
It remains to be seen whether the local banks will
surrender their present freedom from Government
competition without a fierce struggle.
While Mr. CHASE is thus proposing to raise
money, or the substitutes for money, we receive sad
accounts of the way in which past loans have been
squandered. A sum of £320,000 had been appro-
priated "in one city" alone for " recruiting, orga-
nizing, and drilling volunteers." It is said that
nearly half this sum waid on fraudulent accounts !
Nearly one thousand persons were implicated,
though not all criminally. Many merchants and
brokers in New York are involved, as the result of
a secret investigation which has been going on for
two months. It i# certainly one of the results of
war, most trying of all to the temper and patience
of a country, to find its own subjects taking frau-
dulent advantage of its difficulties. England has
nothing, alas, to boast of, in this respect. The
only thing we have to blame in the Americans, is,
their trusting, without supervision, the virtue of
their citizens. We cannot afford to do it.

On Thursday Mr. CARDWELL made a speech at
the dinner of the Oxford Friendly Association. His
remarks are worthy of attention, from the earnest
manner in which he expressed,himself. He said he
had peculiar pleasure in the meeting because he be-
lieved the society " destined to increase the comfort
and promote the prosperity of the people, and in the
hour of adversity to mitigate the sorrows of a large
body of honest, industrious, and frugal men." He
proceeded to state that the principle on which the
society was founded, was that of independence based
upon frugality, and the principle of union carried it
into effect. There is great truth in his remarks on
the value of independence as a social virtue, and a
national blessing, and the necessity of ensuring
that independence in its integral state and full
vigour, by making a timely provision and necessary
saving. He then explained the important -results
that flow from small beginnings in these words :
" Y 0... know that all wealth, even the wealth which
constitutes the pride and power of this country,
sprang originally from the savings made by honest
men and frugal men, and which savings, although
originally small in their beginning, are large and
important in their collective aggregate, just as the
rivers which fertilise the country run into and swell
the great ocean that bears upon its bosom the fleets
of commerce are filled by those small streams which
we ourselves see trickling down the hills of our re-
spective neighbourhoods, and which in their begin-
ning are so small and so comparatively insignifi-
cant. So it is with the great aggregate of the pro-
duce of industry and the wealth which flows from
it; it is made up of the collective industry of indi-
viduals, all tending towards the production of one
great result."

There is encouragement in this to all wavering
L
1 and hesitating minds, who satisfy their consciences
and also often eonsult their secret indolence by ne-
; glecting to put by anything on the pretext that so,
1 little can do no good. This is a great mistake, and
may result in a fatal error if not timely averted.
1 Mr. CARDWELL stated that formerly there was
every allo Nance to be made, since no adequate as-
sistance was provided for the working man to en-
;
1 courage him to save. However, now, happily in
the general advancement of the nation, a change
Ihad taken place; and, in the first place, there had
been adopted a system of savings banks, which was
the means of aggregating many millions. Then,
again, private enterprise had also conduced to the
happyresult.
The object of the association which
they met to celebrate that night was not behind the
Its aim was " to furnish re-
others in interest.
sources by
'suffering and sickness,
belong to it in their hours oi
their savings to the individuals who
which are an aggravation of the pain of bereave
went ; for, depend upon it, that poverty is a very
great aggravation of suffering at sinh a time,
considering the attendant expenses which that very
bereavement imposes upon a family." It is satis-
factory to know that this association has made
considerable progress during its short existence;
the number of its members has increased from 30
to 300, and it has distributed between £5,000 and
£6,000 for the relief of suffering. " No doubt then,"
said the speaker, "it is dear to every one within
the walls of the city of Oxford." After some more
apposite remarks the right hon, gentleman con-
cluded by observing that in our day class differ-
ences were done away with, and although the dis-
tinctions of society were recognised with a due re-
gard for their importance, we were impressed
with the truth of the remark of an ancient
Roman, that, " Whatever we may inherit of
receive from others, those things are the most
truly esteemed which we obtain for ourfielyes."