The Sun.
London, England, 1854-08-08 00:00:00

MONEY FOR THE WAR.

"We are bound over," said Lord Brougher°,
some years ago, " in a sum of 800 millions to keep
the peace." " The fact is," said the Times net%
paper in 1847,—in that confidential tone Ifni
men assume when about to state a palpable fioti.lue,
—" the fact is, the nation is poor." About the
same time Sir Robert Peel announced that tA
distress then pervading the country was produe°-
by " a dearth of capital." A to
The conviction that England could not affor:hij
go to war was all but universal. Acting on "Lie
conviction the Government of Lord Aberdeen ra‘r-t0
every possible effort to maintain peace at auY,eAlf,
Acting on this conviction, Mr. Cobden and ',41-
Bright, and the Manchester party, denounced W ld
under any circumstances, trusting that they shell is
thereby secure popular support. " For vibe°
comes to the point," reasoned these philosophe
of cotton, " the people neither can nor will 113111.-
war taxes." The Emperor of Russia cal
lated in a similar way. His MajestY) two
doubt, takes in an English paper or
—as well as that " dear Aberdeen,"---sn' the
former days he obtained, we believe, from c the
late Lord Ashburton a sufficient knowledge. 0' _of
Currency Question to enable him to appreciate
financial difficulties. Nevertheless, the war de,
going on, taxes are imposed and paid ; trice
39,
though not in so flourishing a condition as it and
is, on the whole, good ; the funds keep 1-IP' eat
two or three millions more or less for sends :410
our soldiers on a tour in the East, and our saivtall
on a cruise in the Baltic, seem to Mr. John ""
Toots a thing of " no consequence." ?
A
How, now, we ask, has all this come about le,
power has been in operation of which Peelites, Felde.
Cotton Lords, and Czars have but a very in ag
Ih
quate idea. That power is Paper Money. ad'
always been the avowed opinion of those viii Ong
vocated the system of money made use of the
the last war by William Pitt, in opposition tet. $0
one introduced by Sir Robert Peel, that vrit'',ht
adequate circulating medium this country 1117se,
prosper either in war or peace. Not, of 0011,
equally. War is an enormous evil every 11,70,1
whether viewed in a political, moral, or comuler
aspect.
th
---tr ,d spite

ut as ..e country made great progress in . - of
the long war, with the counteracting advantage 0
...doquate paper circulation, so, we have allt
contended, it might do again under similar cirou-'
stances.
But Peel's Bill remains the law of the land, It`(1,
we are, notwithstanding, bearing up against 10
evils of war. Quite true. Aud every one, If
very little consideration, may know the reasouvrtsli
The Gold Discoveries have neutralised, to a bore
extent, the pernicious effects of Peel's Bill. .:1,-irec.
have been minor causes at work in the earner lithe
tion. The facilities afforded by railways lecher,t
transmission of money from one place to an °tlflg
the opportune economising of the cirewtlal of
medium by the London bankers, the reln°/),00
trade restrictions—these, and other thingst."; of
co-operated with the extraordinary discoverieo'
gold to secure to this country a circulation edge
cient to afford the indomitable energies and 1°,„1,,cd.
try of the English people something like fair :HA io
Gold has flowed into the country from Austr+3,c-itly
such abundance as to enable the Bank, o°;.tai°
standing adverse foreign exchanges, t° "mer
in its coffers gold enough to form a basis
adequate circulation. Without this most and
petted and powerful ally—we mean Californittvitiol!
Australian gold—in what an unenviable llisoolet
would England have now been placed ! We
As jai/
have had dear bread, bad trade, war, and
taxes. oef
And in what jeopardy are we still placed by
absurd monetary system. By the last oile
Return it is true that the stock of bullion ret!
tt°""
to between 13 and 14 millions, showing a de than
thoef
from the former statement of not ln°r;ort
190,1951. Still this indicates that the 014 the
bullion is not yet checked. And, meanly-a
reserve of notes in the Banking DePartrj:
very small (6,244,4851.). A good harvest loss
doubtless, be in our favour. But we b3veeat t:,11
the prosperity of the country mainly depends a
i
the power of retaining a few millions of g°' wi
vaults of the Bank. Let this bullion be 0,0 the
drawn, and a very few months would eheld3l;oree:
whole state of affairs. Without gold it is de
that we shall have an inadequate supply °f
this inadequate supply of money inev"-r-connes
duces declining trade, and, as a matter 01,De
depressed agriculture follows ; then comes
of the capitalist and the starving penury
labourer and operative. 11(
Our resources for carrying on the 117. e oe
tll°-
then be exactly what the Czar would wish
to be.—Derbyshire Courier.
UNIVERSITY COLLEGE, LOl4l

Of;
MATRICULATION, 1854 EXAMINATION
HONOURS. oleo
MATHEMATICS AND NATURAL PHILOSOFfigI.;.-britel:
Harlin (exhibition), St. Peter's Coasnitludegse, 'a•onae-le
Frederick Bullock, King's College • Leonard
Messenger,Uniersity CKolilnegg,es;CWolaielgteer; WAesutgu'
versity College ; William lowlands, ItirjPoebriveY:Bl:tne;o°llo:ll-°:
it
dtl
KISHICi
antoioacmsnlffstl
SchoolgHeps.o,g:EsrteTl
adac:la;CosuuceiToecinl
haßeeutuganynonarden.,:s=eys;sAcjcpJDlhlor.
eonoili
xzhglfioLee. nblrgamj:Bno:agEfißrErddbo:obinwoo
kral Taunton,itsns),na;yo AdosltnU UniversityeunalrVoei
vnseci
t}eQj°er4,
det p,
Yen
Infirmary
dions
geßphihaaemdsi
n; JOB ~~kpi
01;01
;et
George Edwards Jeaffreson, private tug
ition.; 'rove;
Gervis, W. of K, Dissrs. Prop. School ; Mora
private tuition ; Alfred George Kemp, Wesley o°l4
Sheffield ; Alfred Woodward, King's College ;
ville Howe John Sterling, University CelLegnedbonee'
Hodges, Guy's Hospital ; Thomas James %Ye"moo),
private tuition.
BOTANY.—Rinvo Robert Siccama (prize eincrool;
King's College ; Thomas James Woodhouse' ode'
Reading Bucknill, private tuition ; Alfred gioilege,',o),
King's College ; Joseph Henry Barr, Owe' of vf, boo!‘o,
ZOOLOGY.—Arr. Edward Durham (Prize teD°lo
Cheltenham Hospital ; Ebenezer Charles, Priv' es, oli
iOO,
CLASSICS.—Edw. Ernest Bowen (exhibitio%
College, and Percy Greg, private tuition (s,„citial,;'s:4/3Ate
Robert Horton, St Peter's College, Prior •Eirci, p1,1:001,
Watson, Glasgow University ; John Wing
Sel' IS'
tuition ; Edward Gilbert Herbert, Graince,eniisge d'd
Leatherhead ; William Rowlands, Wesleyan /Pro'
stitute, Taunton ; John Farnham Messenger: ,rsileAl
College, and Thomas Parker Smith,
School (equal); John Alexander Flewitt, XieAg Gasci:l4
School, Birmingham, and Joseph Rayinne".
tzlie"rge
ivierchanvosse't,
University College School (equal) ; Bernard --1,. Col-e
private tuition, and Frederick Garrard, 1
-
(equal).
Othi
fine be
A BOY FOUND DROWNED.—Yesterday„
otberP. l'e
aged 14, was picked up in the Thames near 11 to
and removed to the dead-house at that Oar' ble'
owned, and for an inquest. The body 15 Clad In
jacket and trowsers. The n
ta epd
DEATH OF THE DEAN OF ARDAGIL.
Vi
Sentinel announces the decease of the very
sod
Richard Murray, D.D., Dean of Ardagby 3
rece• 8
General of his diocese.
electedTHE member BALLOT:
a convert to the ballot. His conversion ,7.„ bisP
thetwilre_resl9,lo4
forT Beverley, v r
electors, and a moyemeut made bYtktf!ff6'
owing•perhaps to the requests addreuisecliitlrs7olo4,
aAn.dG sono r Gordon,