The Sun.
London, England, 1854-11-29 00:00:00

THE FINANCES OF RUSSIA.

(From the Derbyshire Courier.)
The opinion appears to be steadily gaining ground
that we are only at the commencement of a great
European war. Unhappily, war is an evil which
has a natural tendency to extend. Two or more
nations engage in acts of hostility, the interests and
passions of neutral powers are excited, and the wild-
fire spreads till half the world becomes involved in
the conflagration. Such is the mournful lesson
which history teaches, and which it seems

more than probable that our own experience is
destined to corroborate. The character of the
enemy with whom we are engaged strengthens this
t pinion. The Czar is said to be in no wise
moved from his purpose by recent events. Were
we in undisputed possession of the Crimea, there
is no ground for supposing that the Czar would
bate one jot or tittle of his high pretensions, or
swerve for a moment from the path which his own
will has laid down. Nicholas is quite the man to
carry out his threat, that as long as he has a man
or a dollar he will not succumb. It is no part of
wisdom to deprecate or under-value the resources
of such an antagonist, but rather to sit down and
count the cost, and consider how we may with ten
thousand be able to meet him that cometh against
us with twenty thousand.
Russia was well known to be strong in its capa-
bility of bringing immense armies into the field.
Its boasted million of troops may prove to be not
fabulous. The weak point of Russia was supposed,
at the commencement of the war, to lie in its finances
The Times elaborately endeavoured to prove
that the blockade which we had it in our powr to
enforce would so cripple the resources of Russia
that its trade would be annihilated, its Exchequer
emptied, and its paper money no better than the
money of the first French revolution. In all this, as
in other calculations by which it was'
attempted to
s
depreciate the capabilities of Russia, the Times and
its supporters and followers reckoned without their
host. The Emperor knows what he is about,
and he knows much of which those who under-
value his sagacity are profoundly ignorant. Let it
be remembered that at the close of the last war,
Russia, consulting the late Lord Ashburton and
others of the leading financial authorities of
Europe, took exactly the opposite course with
respect to its circulating medium to that which we
adopted. Russia, fortunately for her, had no Peel.
Her paper money had, like our own, depreciated.
But Russia did not attempt, as we did by the Bill
of 1819, to return itnatediately to cash payments.
The Russians kept their paper money out just as
it was, and when Lord Ashburton was asked in
his examination before the House of Commons, iu
1836, "By maintaining the paper at its old depre-
ciated value, is your Lordship aware whether any
great embarrassment has followed in Russia in con-
sequence ?" his answer was, "I do not believe
there has."

In the panic of 1847 the Emperor was able to
assist the Bank of France by supplying that esta-
blishment with 2,000,0001. sterling of bullion in
exchange for stock. A decree was issued on the
30th March, 1847, for the investment of 4,600,0001.
in foreign securities, in which it was stated that
the stock of bullion at St. Petersburg was not less
than 20,000,0001. sterling at that time. There has
been no panic in Russia. It is evident enough
that the Czar knows something about the currency
question.
With respect to the effect of the blockade,
it is stated by Mr. Wilson, the Treasury Secre-
tary, that exports from Russia have been made
nearly to the same extent as usual, while the
imports have been greatly curtailed. A despotic
Government in the matter of exports and imports
has a great advantage over a constitutional one.
It can at any moment prohibit, by the most
stringent penal enactments, the import of the
manufactures of a hostile state. Russia is doubt-
less doing this. While her produce finds an easy
transit through Germany, her markets are closed
against our goods. The only effect at present
produced by the blockade appears to be that the
British consumer of Russian produce has to pay
a greatly increased price for it. We maintain
fleets at an immense expense which do no harm
to Russian commerce, but inflict a heavy tax, in
the shape of increased prices, on our own people.
In payment of goods exported from Russia, gold
and silver will, therefore, be sent to St. Peters-
burg ; their exportation is prohibited by the Czar.
The spirit of commercial enterprise is so subtle,
and the facility of intercourse throughout Europe
BO great, that we doubt whether it will be found
possible to prevent Russia from disposing of the
flax, hemp, tallow, and timber which it produces
of such excellent quality. The Czar will carry on
a profitable trade, in spite of all that we can do.
Now as to the depreciation of the paper
money, what is the fact ? " The exchange at St.
Petersburg," says Mr. Wilson, " had, under the
first influence of the war, fallen to 32d. per rouble.
Latterly it has gradually risen, and is now exactly
at par, or 38d. the rouble, notwithstanding that in
the meantime an enormous forced issue of paper
money has been made, a further rise of a single
penny, or even less, will so far turn the exchange
in favour of St. Petersburg, that in spite of all
effort or all law, gold will be drained from the
vaults of Threadneedle-street to replenish the bul-
lion reserves in the fortresses of St. Peter's and St.
Paul's in the Russian capital."
The Czar, we repeat, knows what ho is
about. He has acted, in our opinion, wisely in
providing—by what Mr. Wilson calls "forced,"
but by what we should call "adequate, supplies"
of paper money, a domestic circulating medium for
Russia. This paper-money, if properly managed,
and received for national taxes, may be kept from
any serious depreciation. If the war proceeds,
and fresh taxes are raised, the paper currency of
Russia will allow the producer, by adding taxation
to value, to obtain a remunerative price. Prices of
all commodities will rise, then, in this paper money.
The prices of the precious metals will also probably
rise, but in lower proportion ; for the Czar forbids
their exportation,they will no longer be required for
money, as their place may, if necessary, be entirely
supplied by paper money. In the meanwhile the
Emperor will, without difficulty, obtain and retain
a sufficiency of the precious metals for all foreign
emergencies.
Let it be remembered that it is a fact that within
the last few months the exchange at St. Petersburg*
upon London has risen nearly 20 per cent., and
that, in spite of the war, Russia is prospering.
And what, let it be asked, is there to prevent
this country from adopting the best and most
convenient of all currencies ? Why should
not we have cheap money ? Engaged as we
are in a war which is already heavily taxing
our resources, and of which the issue must
depend upon ability to crush our powerful
antagonist into submission, it is our wisdom to
do everything we can to increase the ability of the
people to bear the increased demands on their re-
sources. We receive immense amounts. of bullion
from Australia, but it drains away to other nations,
and on our power to retain a sufficient amount of
gold hangs the commercial and financial prosperity
of this great nation.
There is nothing to prevent England from having
cheap money and a sufficient supply of it—a supply
which would enable us to bear almost any amount
of taxation, and yet to prosper—but the grand
philosophical principle of Sir Robert Peel, viz.,
0-old at 3'. 17s. 101 d. an ounce !
Let gold be bought and sold, like any other com-
modity, at the price it will fetch in the market, and
a paper currency, including IL notes, be provided
for home circulation, and England will be able, as
she is g, to persevere in the just and necessary
warfare in which she is engaged, till success crowns
her endeavours.

TILE POLISH ANNIVERSARY AND ITS

SUGGESTIONS'.

Next Wednesday, the 29th of November, is the
twenty-fourth anniversary of the famous Polish Revolu-
tion of 1830. The occasion will naturally be turned to
France, account
by
the Polish refugees in Great Britain and
who have been in the habit hitherto of annually
commemorating an event so remarkable in the history
of their • ation ; and several meetings have, we believe,
been arrannged i
which Englishmen London and other English towns, at
circumstances particularly a,ernelatoi take part, and to move—in
the expediency of givingr Y appropriate—the question of
a Polish direction to the critical
war le which we aren
Dudley Stuart loaves th: The death of Lord
engaged, The
the man whose
antecedents would haverneobnensttrYentitled him to raise the
question at the present
on ; but the whole nation
has the word " Poland"
its
a d tah
fee
emeetings
which
Wednesday next will but locallyexpresisps
is universal.
Had this feeling been ripe some months ago —had the
an e stage is
arlier
word " Poland" been pronounced a
the present contest—had our Government
France seen the necessity at first of attackin"g Rus -
thatsoial
through Poland—the aspect of affairs would have be
very very different from what it now is. Instead of bege'n
in
a state of panic respecting the fate of our brave armies
in
the East—uncertain whether, after all, the issue of the
war will be for us or for Russia—we should in all pro-
bability have reduced Russia by this time into a state of
weakness from which she could not have recovered, and
have been in a position to deal with Nicholas as a van-
quished man. Had our Baltic fleet, instead of being
sent out on an idle mission, to cruise about, blockading
the Russian coasts, and trying ball-practice here and
there against a stray fort, been sent out with instruc-
tions to attack Riga, and land some 12,000 soldiers at
that or any other point of the Baltic provinces conve-
nient for the purpose, the effect would have been to ex-
plode at once all the eager populations of old Poland
about the ears of the Czar, and so to have shattered him
and his system. At that time he was not prepared for
such a danger ; and the number of his forces in the re-
gions in which he would have been attacked; were quite

insufficient to cope with a Polish insurrection acting in ;
co-operation with a small invading army of the allies,
supported by their fleets in the Baltic. This is not the
mere speculation of newspaper writers ; it is
the conviction of all military authorities ; and
had our Government judged solely from the
military point of view had their sole object
been to damage Russia most ruinously, by the most
effective means, and in the shortest possible space of
time—they would have been hound to acknowledge that
this was the plan:
But the British and French Governments did not
judge solely from the military point of view. Their ob-
ject was not to damage Russia most ruinously, by the
most effective means, in the shortest space of time. They
did want to damage Russia ; but they wanted to inflict
on her the minimum of damage that would bring her to
reason, and put an end to the temporary European
crisis. They wanted to beat Russia without rousing
new elements which would be beyond their powers of
management. They wanted to conduct the war so as to
satisfy certain narrow political conditions. They wanted,
in fact, to beat Russia without doing anything else in
the process of beating her. Hence the plan which they
actually adopted—an expedition to the Baltic to block-
ade the Russian coasts, and fight the Russian fleets if
they would come out ; and, latterly, an expedition to
the Crimea to assault Russia, in conjunction with the
Turks, and with them alone, in one valuable outpost of
the Russian empire. Se far from rousing the Poles, it was
and has been till now, their policy to keep aloof
from the Poles, to discountenance the idea of a
Polish rising, and even to reject all assistance from
individual Polish volunteers. Some of the ablest Polish
military officers who had gone to Constantinople to offer
their services to the Turks have, by the influence of
Great Britain, been kept oat of employment. So also
with volunteers from among the Hungarian officers. At
this moment we believe General Klapka, so celebrated
for his bravery and ability in the Hungarian war of in-
dependence, is living idly in a Swiss town, having been
obliged to return from Constantinople, where British
and Austrian influence prevented his request for a com-
mand even in Asia from being acceeded to by the Sul-
tan. In a similar manner Austrian influence has pro-
cured the dismissal of General Haug, celebrated in the
Austrian revolution of 1848-9, from the head-quarters
of Omar Pasha.

Events, however, have signally proved that this po-
licy has been a huge blunder. Our Baltic expedition
has accomplished next to nothing ; and if our expedition
to the Crimea proves in the end successful, it will be at
a most enormous loss of gallant men ; and, after all, it
will be of little value, unless in so far as larger measures
may follow it up. It has been proved that the policy
of fighting Russia without calling out those elements
of Europe which are spontaneously and traditionally
anti-Russian whose historical mission, in fact,
it is to do the world's fighting against Rus-
sia must necessarily be a failure. This is now
perceived, and on the principle, " Better late than
never," men of all parties and all classes—from writers
in the Quarterly Review, on the one hand, to writers in
democratic periodicals, on the other—are crying out that
we must throw away scruples, and fight Russia by
hurling against her nationalities, or whatever other force
can be used for the purpose. Being at war with Russia,
it is felt that we have the right tense such means as may
be most efficient to secure her defeat, even to sending
emissaries among her disaffected populations, supply*
them with arms, and fomenting insurrection within her
boundaries.

This is what the nation feels, without distinction of
party. Government, of course, still lingers—a Govern-
ment, with Lord Aberdeen in it, will always linger—
before
taking the step which the nation is urgent should ,
be taken. The reason of the hesitation is obvious.
Austria is in the way. That wretched Austrian alliance
hangs like a millstone round the necks of the Allied
Governments. It is an insurmountable difficulty in the
way of action against Russia through Polish instrumen-
tality. Gallicia, now a part of the Austrian Empire,
must necessarily go along with the rest of Poland in
any movement that takes place ; so that to rouse
the Poles is to break with our ally Austria. But
for this, and a slightly similar consideration for Prussia,
there could not possibly be any hesitation on the part of
our Government. We have passed that point at which
there can remain in any British breast, save, perhaps,
that of Lord Aberdeen, any consideration for Russia
herself. Any lingering we may have had not to press
too hard upon Russia, has been effectually washed away
by the blood of the thousands of our countrymen slain
in the Crimea ; and, but for Austria, a summons to the
Poles, front the Cabinets of Great Britain and France,
would go forth to-morrow.
Suoh is the state of affairs to which the proposed
meetings on the Polish anniversary on Wednesday next
may very opportunely address themselves. The busi-
ness of these meetings, so far as Englishmen take part
in them, ought to be to express articulately the univer-
sal belief that the war has now come to such a point
that, even from reasons of pure expediency as regards
Great Britain herself, Poland must necessarily be called
into action against the Czar, and to signify this energe•
tically to the Government. The Austrian alliance will
doubtless be discussed in this connection ; and Go-
vernment will be called upon to take steps for
bringing that matter to an intelligible footing, by
openly summoning Austria to say, within forty-
eight hours, whether she is really with. us •r really
against us—whether she will practically be our ally in
arms, or whether she will abandon us, leave us free,
and take the consequences. This is absolutely essential
now ; for what do the last news say ? that the Emperor
Nicholas is again inviting a negotiation through Aus-
tria, on the basis of " the four points ! " Are we going
to let Austria lead us another dance of negotiation '• If
not, let us tell her so, and be done with her.—Glasgow
Consmonwealtio.

LAW INTELLIGENCE.—Nov. 28.

COURT OF COMMON PLEAS.

(Nisi Prius Sittings at Westminster before Mr. Justice
Cresswell.)
COPLEY P. TUBB.

This was an action by the plaintiff, who was recently
an ensign in the 88th Regiment, against the defendant,
a horse-trainer at Winchester, to recover 251., lent by
the plaintiff to the defendant. The defendant pleaded
the general issue.
Mr. Sergeant Atkinson and Mr. Hance were counsel
for the plaintiff; and Mr. Edwin James, Q.C., for the
defendant.

It appeared from the plaintiff's evidence that in June
last, and whilst he was stationed with his regiment at
Winchester, he met the defendant at Twyford races.
Defendant told him that a mare, named Michaelmas
Maid, was for sale, and proposed that they should pur-
chase her between them, and "go halves." Plaintiff
said he would, but after the race she was claimed by one
of the stewards, so the purchase was not effected. The
next day defendant called upon him, and said there was
a horse to be sold cheap at Newmarket, and asked him
if he would "go halves" in that. Plaintiff said he would
not. Defendant then asked hint to lend him 251. to buy
the horse, and plaintiff drew a cheque on his agents and
got it cashed at the bank at Winchester, and gave him
the money. Defendant afterwards told him that the
horse had been fold, but that he had purchased another.
About six weeks after plaintiff applied to him for repay-
ment of the loan. He first asked a Mr. Russell to apply
for it, and then he wrote to defendant, saying, " Unless
you repay me the 251. borrowed of me on or before
Saturday next, I shall cause proceedings to be taken
against yon." Defendant replied, "I am going to Lon-
don the first thing in the morning, and will call upon
you on Monday, upon my return." Defendant did not
call, and had not paid him the money.
On cross-examination, plaintiff stated that he sold out
of the 88th in September last. He knew defendant
through Lieut. Poole, of the 88th, who had "gone
halves" with defendant in a mare called Kiss-me-Quick.
Plaintiff had no interest in that mare at all. Whilst at
Twyford races defendant proposed to "go halves" with
plaintiff in Michaelmas Maid, and he consented, but they
could not have her. Defendant afterwards asked him
to go halves in a horse at Newmarket, and bought a
Racing Calendar to show his pedigree. Plaintiff 'refused.
Was not obliged to sell out because he had killed a dog
in the mess-rsom. Had killed a retriever there because
it had bitten a brother officer, and had attempted to bite
him. Had not fought cats in the mess-room ; but had
obtained cats for fighting elsewhere. Had seen cats
killed by dogs. The other officers had remonstrated
with hint about killing the dog in the mess-room, but
not because he had fought cats. It had nothing what-
ever to do with his selling out, and he was still a mem-
ber of the mess.

John Russell, superintendent of the Parcels Delivery-
offices, at the George Hotel, Winchester, deposed that
at plaintiff's request Ise wrote to, defendant to call upon
him. Defendant came, and witness said to him, " You
owe Mr. Copley some money, don't you l" to which de-
fandant replied, "Yes, I owe him 251." Witness told
hies he had got a bill in his pocket for his acceptance,
but defendant declined to put his name to it, an said,
" Mr. Copley was to have gone halves in a horse with
me, but he afterwards declined it, and I was not sorry,
for I wished to have the horse to myself."
On cross examination witness stated that he had lent
plaintiff money at other times. Plaintiff never told him
it was to go halves in a horse with defendent. Plaintiff
had repaid all the money borrowed of witness,
Mr. James then addressed the jury for the defence,
and called
The defendant, who, after giving a similar account
to the plaintiff about the meeting at Twyford races,
and the proposal to purchase Michaelmas Maid, said
that plaintiff and he went into a booth together, and
had some wine. Plaintiff said, "Never mind Michael-
mas Maid, we will have a better one, and beat her ;
and I will go halves with you." Plaintiff got
drunk, and witness saw him home. Defendant had
a letter in his pocket from Newmarket about three
horses, and the next morning he took the letter to
plaintiff, and also the Racing Calendar, containing an
account of the performances of the horses. Plaintiff de-
cided to advance 251. to buy a horse. He said he
would " ge halves" in it, as Mr. Poole had done in
Kiss-me-Quick, and he came and lunched at defendant's
house, and drew a cheque there, and they went together
to the bank and got the money, lie then went to New-
market and bought a horse, and after he had brought
him to 'Winchester plaintiff came and examined him.
Plaintiff advised him to run the horse at Odiham races,
and he did, but the horse did not win. The next time
plaintiff came t:7:lrether stable he named Jersey to him.
hPilmai.n”tiffTshaeidii
horse w: t
well, let him go, but don't lose
won at a sale stakes, nanloti2Jersey, and ran there, and
were
twee? 201. and 301. to prevent obliged to give be-
plaintiff of this, and plaintiff is being sold. He told
observed there would not
be much profit left.
want
tembered seeing Russell.
Russell said to bin,
Mr. Copley lent you." Witness replied, teodU for7ie thert 251.ainly
M
shall not give it, for I don't owe himp2s/.' ‘'
;we
horse transactions together, but that is betweaevne..ohuard

selves and no one else." Russell then said he should not
lend plaintiff any more money, and that was all that
passed.
On cross-examination defendant stated that Mr. Penn,
of Basingstoke, was present at the conversation at
Twyford races. He had made a claim against plaintiff
for expenses concerning the horse. The first time he
did so was about two months back. He had not made
the claim before Russell asked him for his acceptance.
He was in business as a linendraper thirteen years ago,
but became bankrupt, and had not got his certificate.
His debts might ;have been between 2,0001. and 3,0001.
Thought he had paid is. 6d. in the pound, bukcould not
swear he hail paid 2s. in the pound. Would not swear
he had paid 2s. in the pound. Would not swear he had
paid a penny in the porld. Thought he had paid more.
After that he commenced his present business, but got
unfortunately in the hands of a racing man, and lad
been obliged to go through the Insolvent Court and
make a clean sweep of it. This was six years ago. Had
sufficient now to pay all lie debts.
Mr. Justice Cresswell summed up, telling the jury it
was impossible to come to any other conclusion upon
the evidence than that either the plaintiff or the defen-
dant had committed the most abominable perjury.

The jury, after some deliberation, returned a'verdict
for the plaintiff, and the foreman added, " There has
been considerable difference of opinion amongst the jury,
but we have endeavoured to arrive at a satisfactory
conclusion."

Mr. Justice Cresswell—The 'verdict is entirely in ac-
cordance with my opinion, and but for the hesitation of
some of the jury upon the subject, I should have ordered
a prosecution against the defendant for perjury.
Verdict for plaintiff, 251.

NAVAL AND MILITARY INTELLIGENCE.

Royal Albert, 121, screw, Captain Sir Thomas S.
Pasley, Bart., passed down Channel on Sunday after-
noon. She was seen at sea from Devonport, but too far
off to exchange signals.
The Exmouth, 90, screw, Captain the Hon. F. Pel-
ham, was not in commission up to Tuesday ; but Mr.
Loney, the master, had arrived, and had taken up his
commission. _

The'Phaeton, 50-gun frigate, is to be commissioned at
Sheerness forthwith. The Pacific, it is reported, is to
be her destination.

The Pylades, 20 guns, is now in No. 1 dry dock,
Sheerness, being coppered. An additional number of
artifiears are put on to expedite her fitment for imme-
diate service.

The steam-vessels Janus, Cuckoo, and Porcupine are
ordered to complete stores and provisions and await fur-
ther directions.

APPOINTMENTS.

Rear-Admiral Henry W. Bruce arrived at Woolwich
dockyard yesterday, and at half-past four o'clock p.m.
had his flag hoisted on board the Fisgard, flag-ship, on
taking up his appointment as commander-in-chief of her
Majesty's naval forces on the Pacific station. The gal-
lant rear-admiral had his flag struck at half-past five,
in the usual form, and proceeded on leave to prepare
for his departure to take the command of his new
station.

Commander William J. S. Pullen took up his com-
mission on Monday, and hoisted Ms pendant on board
the Perseverance iroa screw steam troop ship, in dock
at Woolwich, on his appointment to the command of
that vessel, and has now commenced entering petty
officers, able seamen, and stokers.
Commander Richard B. Crawford (1842) is appointed
to command the Gorgon paddle-wheel steam-sloop, vice
Peter Cracroft, promoted to be captain.