The Sun.
London, England, 1849-01-03 00:00:00

No. 17,.558.] LONDON, WEDNESDAY •:;-;,.
a
E

PUBLICATIONS.

NEW WORK ItY MISS MARTINEAU.
Just published, In small Bvo., price fis. cloth,
'IOUS Ell OLD EDUCATION.
By HARRIET MARTINEAU.

Also,
1. M iFS MartineattA Eastern Life, Present and Past. 3 ♦els. 31s. 6d.
2. Life in the Sick Room. Essays by an Invalid. Second Edi-
tion. ss.

Edward Mozon, Dover-street.

NEW LIBRARY EDITION OF "CURIOSITIES OF
LITERATURE."
Just published, in 3 yols. post Bvo., price 425. cloth,
_DISRAELI'S CURIOSITIES of
LITERATURE, with a View of the Life and Writings of
the Author.

By his Son, B. DISRAELI, Esq., M.P.
Edward Moron, Dover-street.

LIFE AND LETTERS OF CAMPBELL.
Just published, in 3 vole. Swo., price 455. cloth,
I.IFE & LETTERS of THOMAS CAMPBELL.
Edited by Dr. WM. BEATTIE, one of his Executors.

Also,
I. Final Memorials of Charles Lamb. Edited by T. N. Talfourd. 2
vols. 14e.
2. Life and Letters of John Keats. Edited by R. M, 3filnes. 2
vols. 14s.

Edward Moxon, Dover-street.

FINANCIAL REFORM ASSOCIATION.
This day Is published, price Threepence,
I ETTER to ROBERTSON GLADSTONE,
1.4 Esq., on the Publications of the Financial Reform Association.

TN consequence of the great rush of Visitors to see
BANVARD'S GRAND MOVING PAINTING of the MD:-
SiSSIPPI and MISSOURI RIVERS, at the EGYP 'IAN HALL,
Piccadilly, the Proprietor respectfully announces Two Exhibitions
every day during the holidays. This immense Painting is the
Largest in the World, and exhibits more than 3,000 miles of Ameri-
can scenery.—The Day exhibition will commence every Afternoon,
at Half-past Two, and the Evening at Half-past Seven o'clock;
doors open half an hour before comnsencng. Admission, lower
seats, 2s. ; gallery, Is.

TIIE ALBERT NIGHT LIGHTS are the
best. Price 6d. per Box . Sold everywhere.

ORNAMENTAL CLOCKS.—Recently received
from Paris an unusual large 'variety of Fourteen-day
CLOCKS, to strike the hours and half-hours, in ormolu, marble, and
china. The designs are pastoral and historical, and include a few of
great merit, in the style of Louis XIV. The price is four, five, and
seven guineas each, and upwards.
A. B. SAVORY and SONS, 9, Cornhill, 'London, opposite the
statue of the Duke of Wellington.

Illustrated by 26 Anatemical Celoured Engravings on neal.

)N fiIYSICALDISQUALICATIONS, GENiIIATIVR

CITY, &ND IMPEDIMENTS TO MARRIAGE.

Yew Edition, enlarged to 196 pages. Just published, price 2s. sd., or
by best, direct from the Establishment, 3s. 6d. in postage stamps,
THE SILEN T FRIEND, a Medical Work on
the infirmities and decay of the generative system, from ex-
essive indulgence, infection, and the inordinate use of mercury,
with remarks on Marriage, end the means of obviating certain dis-
luallacations. Illustrated by 26 Coloured Engravings. Illy B. and
L. PERKY and CO., Consulting Surgeons, 19, Berners-street, Ox-
ford-street, London. Published by the Autkors : sold by Strange,
21, Paternoster-Pew ; Hannay, 63, and Sanger, 150, Oxford-street ;
Stade, 23, Titchborne-street, Playmarket ; and Gordon, 146, Leaden-
kall-street.

PART I. treats of the anatomy and physiology of the re-productive
organs, and is illustrated by Six Coloured Engravings.
Pear 11. treats of the consequences resulting from excessivelndul-
gence, and their lamentable effects on the system, producing mental
and bodily weakness, nervous excitement, and generative incapacity.
Illustrated by Three Explanatory Engravings.
Peer 111. treats of the diseases resulting from infection, either is
the printery er secondary form, and centains explicit directions for
their treatment. This section is illustrated 'oy Seventeen Coloured
Engravings.
PART IV. contains a Prescription for the Prevention of Disease
by a simple application, by which the danger of infection is ob-
viated. This isxportant part of the Work should not escape the
eader's notice.

ritaT T. is devoted to the consideration of marriage, aad its
duties. The causes of unproductive union are also considered, and
the whole subject critically and philosophically Inquired into.
Tux Coarow. liar.x or STRIACIIM is exclusively employed ix treat-
er nervous and sexual debility, impotence, &c., 11r. and 335. per
bottle. The Concentrated Detersive Essence, as anti-syphilltie
remedy, for purifying the blood in eases of infectiox, secondary symp-
:eels, eruptions, and the abuse of mercury, I Is. and 335. per bottle.
rerry's Purifying specific Pills, 2s. 91., 4s. ed., and I Is. per box, a
certain remedy for genorrhont, gleet, stricture, and chronic inflasuma-
ten of Ole bladder. Consultation fee, if hyl4tter. 11. A minute
retail of the case is required : age, habits, and position in society.
at. rackets, with advice, to bs had at the Establishment misty, by
which the tee,'l., is saved. Messrs. Perry, Surgeons, are in atten-
dance daily at 19, Bere,ers-street, Oxford-street, London, train lfle-
•en till Two, and Five to Eight ; on Sundays from Eleven to One.

A R R I A E.
M One half the world are desolately single, and the otker
'opposing them married, questionably contented. Diffidence, sr a
,ease e! right determine the former, end miscalculated hopes em-
s:UK the latter. The solitary one may shield himself under the plea
st caution and worldly prudence, and the indissoluble, regret an-
"onsprosiag harry ; but the truth lies deeper. Physical incapacity,
and broken health, are the great hindrances to domestic happiness
end social content. The dowry should net be the Only marriage set-
tlement. Honour and justice demand that health should fern( as item
In the compact; it alone dignifies the alliance. Blighted hopes or
neglect weand more sorely than peverty or misfortune. header, if
.hose surmises concern yoa, procure 1)r. CULVE/tWELL'S little
MEMOIRS "On Single and Married Life, " pub. in 2 vols., Is.
each (by post, in stamps, is. 6d. each). Let no imaginatively
reined, or prudish feeling deter you, by their titles, nor be hindered
oy misinterpretation of their ;apposed contents, from obtaining
:been. They are not intended certainly for mere idle cariosity, but
or the closet perusal of those mere deeply interested, to whom
tkey are offered as antagonistic to the empyrical trash put forth on
the above subjects, by unqualified authors, which alone or
ogether, are a disgrace to the age. Furthermore, two other
ittle publications claim your attention (came price is. each,
by post Is. 6d.) called " What to Eat, Drink, and
Avoid," and " How to be happy." They aro not merely
pamphlets, but equal in quantity a library volume, nor are they the
mere ephemeral scribblings of the hour, but the study of the author's
wk• owes his present existence, health, and position to this ob-
iervance of the maxims he would inculcate—to do unto others as he
would be done unto—to live atter nature's laws—and to keep always
an the " runny side of the way." The above works IQ ay be lied of
Therwood, 23, Paterncsrer-row ; Carvalho, 147, Fleet •street • Mann,
42, Cornhill ; Nelson, 457, West Strand ; or direct (by post or other-
wise) from the author (who may be conferred with personally,
aiormags and 'yenta's). 10, Argyll-place Recent-street; anu all
Bonk ,nlle.,

SPIRIT of the PUBLIC JOURNALS

FROM THE MORNING PAPERS OF THIS DAY.

TIMES.—As emigration will soon he pressed on the
attention of the Legislature, it becomes necessary to
report en the progress of the question. For our own
part, we cannot think the case to be exactly the same
now as it was in January, 1847, or even in January,
1848. Since the former date half a million of souls
have left these shores; and since the latter date this un-
exampled emigration has assumed the form of a sponta-
neous and regular stream. Nor is there any 'visible
abatement of the locomotive furor. We may, therefore,
conclude that, for some time to come, nearly the whole
annual increase of our home population will take wing.
Of this annnal swarm certainly not less than two
hundred thousand will be Irish ; and as, according,
to the common mode of reckoning, the natural in-
crease on a population of eight millions will not be
much more than one hundred thousand, it follows
that Ireland must now be undergoing an annual de-
population at the rate of a hundred thousand a year,
putting fever and famine out of count. Now, this ma)
be a gratifying fact, or a consolatory fact, or a necessary
fact; but it is, at all events, a very serious fact, and a
new element in the question. Artificial ingenuity is
tender of interfering with natural operations of gigantic
and unusual character. When Cubitt was about to shove
the cliffs of Dover into the Channel, the appearance of
a natural land-slip would probably have induced him to
suspend operations. He would have let nature work
awhile, and then proceeded on her basis, lest ho should
find that ho had thrown away his labour, or even done
positive mischief. Now, here is a great slip of the
British population, and so long as the wanderers have a
land of milk and honey to go to, which they certainly
hare, we may be honestly and unaffectedly rejoiced at
their departure. Still, caution, and even humility, recoil
from any extensive and unnecessary interference with so
colossal a movement. At all events, let us contemplate the
fact in its various bearings. In the first place, there is
the question of money. At present the British Govern-
ment does not assist emigration from the public re-
sources. With but few exceptions, whatever amount
and degree of " assistance" is now given is from the
colonial funds. The colonial paymasters have a general
preference for English and Scotch labourers, as being
better up to their work, and therefore more worth their
money. Government, therefore, is not at liberty to
apply these funds, and locate the depots fur colonial emi
gration where some people may think them most needed.
It is merely in the position of a factor or agent com-
missioned to engage practised agricultural labourers,
with certain limitations, and to pay all or part of their
passage. Moreover, the fund is but small. What
Government, therefore, does out of the public re
sources is confined to superintendence, and to dimi-
nishing as much as possible the manifold casualties
inseparable from large movements of men, whether by
sea or by land. This does not entail a very large ex-
pense. On the other hand, any attempt to assist gene-
ral emigration must needs be costly. Government
would not merely pay a certain addition to the present
self-paid emigration. It would have to undertake all.
Almost every body in Ireland threw himself on the relief
fund, and almost every one who wished to emigrate
would throw himself on the emigration fund. There
would be the same difficulty of discrimination and the
same want of honest and efficient auxiliaries on the spot.
Will anybody venture to name the sum of money which
would not be required from the Government in fulfil-
ment of its pledges ? A million would he nothing
among so many. But the country cannot afford a
million just now. There is a dire necessity for reducing
the national expenditure. Neither manufactures nor
agriculturists on this side of the Channel will agree
to spare a million fur such a purpose, or for any
purpose not absolutely necessary. It so happens, that
for many years past there has been a continual succes-
sion of new demands for money. Every year there has
been some new scheme for regenerating, saving, or pro-
tecting Ireland, and it has always ended in the call fur
more money. The money has been spent, and then it
has been found that Ireland wanted regenerating quite
as much as ever. What wo say of spending, we say also
of lending. Lending and spending in these days are
pretty much the same thing. As far as regards the
condition and prospects of the emigrants themselves,
neither Canada nor the States exhibit thus far any signs
of repletion. In fact, there is less complaint just now
with a quarter of a million per annum than there used
to be with a quarter of that number. For these
twenty years there have been loud remonstrances
against the Irish immigrants, who have been constantly
described as lingering at New York, or other port of
deharcation, as herding in courts and cellars, and
naturalizing in the land of freedom the misery, the rags,
atd the filth of their own oppressed country. The ope-
ratives of those cities have formed themselves into com-
binations aeainst the invaders. Even Channing, in 1840,
looked with dread to the increased inroads of European
helotism that might soon be expected when steam had
destroyed half the distance between the old and new
world. " I would ask," he says, " what is to be the effect
of bringing the labouring classes of Europe twice as near
us as they now are? Is there no danger of alcompetition
that is to depress the labouring classes here? Can the
workman here stand his ground against the half-fa-
mished, ignorant workman of Europe, who vrtiLtail for
any wages, and who never thinks of redeeming an hour
for personal improvement? Is there no danger that,
with increased intercourse with Europe, we shall im-
port the striking, fearful contrasts which there divide
one people into separate nations? Sooner than our
labouring classes should become a European populace, a
good man would almost wish that perpetual hurricanes,
driving every ship from tho ocean, should sever wholly
the two hemispheres from each other." . . . "Per-
haps my fears may bo groundless. I do not ask you to
adopt them." They were groundless. Since Channing
wrote these words the railroads and other internal com-
munications of the states have brought the vast interior
within a few days of the seaboard. What were the back
woods in our youth are now central states, where old
men rest at ease, while their sons seek the far west.
Everywhere, therefore, the cry is for more hands. There
is no accumulation. The states have, indeed, complained
and adopted restrictive measures; but that was against
disease and destitution, not against numbers. They
very reasonably declined the costly and unthankful office
of finding almshouses and hospitals for any number of
our poor. Otherwise, there can be no doubt the Union
still extends to the working population of these isles
its wonted hospitality, and, in fact, demands their as-
sistance. The redundancy of European labour is as
essential a condition of American prosperity as her own
redundancy of soil and natural resources. How are the
regions washed by the Mississippi and its tributaries—
how is Michigan and the other lake districts ever to be
peopled without fresh supplies? The poor mothers of
this country often comfort themselves with the saying
that " Heaven never sends meat but it sends mouths;"
and never did the proverb receive a larger verification
than at this moment. Just now, as half a million of out-
casts have drifted to the Transatlantic shore, behold a
new outlet reveals itself. California is acquired, and its
treasures discovered. A current of Population and
commerce has already set in from the American torts to
that distant region. It is computed that not less than
50,000 will shortly be settled on that soil, which will
soon yield them bread as well as gold. The places of these
must be supplied. There are now two coasts to be peopled,
and the Union receives at the same moment a new continent
and a new population. Thus much for the United States.
The emigration to that country we are forced to speak
of us a fact which has its consolations. Loyalty will
prefer Canada and the other British colonies. They do
not complain of being saturated with agricultural
labour, and there is still the same refuge for voluntary
emigration. There is no apparent reason why a hun-
dred thousand natives of Ireland should not find on the
banks of the St. Lawrence that employment, and on the
shores of the Huron that fixity of tenure which they pine
for in vain at home. The geographical and political
circumstances of Canada prevent, and, indeed, supersede
that minute attention on the part of the mother country
which we can attempt with the remote and comparatively
infant colonies Of Australia. Quebec, Montreal, To-
ronto, and other thriving cities, aro markets of
land and of labour, where the emigrant can
soon suit himself with land or a master, ac-
cording tc his taste or his means. Canada
is a self-governing country, with a representative Le-
gislature and Ministry of its own. All that the British
Government can do with emigration to that quarter is
to see that the emigrant is not forced from his native
soil, is not trepanned by fraudulent agents, or is not
exposed to disease, starvation, or shipwreck by dishonest
shipowners, and is not landed absolutely helpless at the
Canadian port. Once landed, he will take care of him-
self, and will even cross the frontier, and swell the anti-
British party in the States, if such is his humour. We
wish, indeed, that something could be done with the
selection of emigrants. Necessity and chance now
decide. The impulse which drives out a million will
not discriminate. We have passed the opportunity of a
really national emigration, and now find the movement
beyond our control.
POST.—We adverted, a few days ago, to the effect
which would be produced, not only upon the United
States of America, but upon the whole of the civilized
world, by the new supply of gold from California, should
it realise the expectations that have been formed respect-
ing its abundance. It would be a great error to con-
found the effect produced upon those in the vicinity of
the "diggings" with the general effect of an increase of
the circulating medium. The effect in California is to
carry away all persons from other pursuits of productive
industry to engage in the production of gold. But the
general effect of an increase of money in countries where
industry and traffic have been established is greatly to
augment the activity of production and exchange. For
this reason we, as zealous friends of the productive
classes, have always advocated the policy of an abun-
dance of money, and of paper money, based upon good
security, since that is a manageable currency whether
as regards expansion or contraction, while gold is not.
We hope the time will come when the eyes of all ob-
servant men will bo opened to the dreadful evils in-
flicted upon the industrial community of Great Britain
and Ireland by a currency system totally unsuited to the
w ants and habits of the people, and to the pecuniary
engagements in which every man who owns any pro-
perty, or owes anything, or pays any direct or indirect
tax, is entangled, whether he will or no. We call the
currency unsuitable, because it is liable to violent con-
, tractions and expansions, and is, in fact, sometimes con-
I tracted and sometimes expanded, not in accordance with

reason or judgment, or the circumstances which fairly
call for expansion or contraction, but in consequence of
reckless, overweening confidence at one time, and in-
sane, destructive panic at another time. And over these
extremes, fearfully injurious to the permanent pros-
perity of the nation, and to the household comforts of
the people, there can be no sufficient government while
our currency is chained down to a limited amount in
times of panic, and permitted (by means of bills of ex-
change, banker's cheques, and other devices of credit)
to rise to any extravagant amount in times of reckless
confidence. But whatever may be the actual effects of
violent currents in affairs which occur now and then,
like the currents of the air, and which cannot be fore-
seen or accounted for, there need be no question as to
the general tendency of an increase of money to act as
a stimulus to industry. They who may not bs dis-
posed to take our word upon this subject will per-
haps listen with more attention to the opinion of Mr.
lluskisson, who, in his speech of May, 1818, upon
Nlr. Tierney's currency motion, stated his views of
the effect of an increase of money. Not only did lie
admit the great impulse given to the industry of this
country by the increase of our (paper) circulating me-
dium, but he maintained that the gold which he set free
for European uses, by using paper instead of gold, had
produced a most important effect in stimulating the in-
dustry of the continent. The, following is an extract
from his speech as given in Hansard :—" The Right
lion. Gentleman then adverted to the effect produced
upon this country, and, indeed, upon all the continent of
Europe, by the facility enjoyed by Great Britain of ex-
tending her paper circulation. It was like the effect that
had been found to arise from the discovery of the mines
of America ; for, by increasing the circulating medium
over the world, to the amount of forty millions, it pro-
portionably facilitated the means of barter, and gave a
stimulus to industry. In proportion, however, as the
Bank of England had found it necessary to purchase gold
on the continent to meet its engagements with the public
here, the circulating medium of the continent was dinai-
nished,and as the continental states did not enjoy,the credit
possessed by this country, and were thereby debarred
from increasing their paper currency, the result was dis-
cernible in the great confusion and deterioration of pro-
perty that had taken place on the continent during the
two last years. Indeed, he had no hesitation in saying
that much of the distress which had prevailed upon the
continent was fairly attributable to the purchase of bul-
lion by the Bank of England. Ile then remarked on
the great stimulus the increase of the circulating medium
had given to the arts and industry of this country; but
while the general appearance of the country was im-
proved, and its prosperity promoted, it was much to be
lamented that the comforts and rewards of the labourers
had been much reduced. The population of the country
had increased in proportion to the rapidity with which
the circulating medium had advanced; but though there
was an increased demand for labour, its wages were
diminished. This he showed by reference to the prices
of corn for the last century. Ile stated, to show the im-
provement of the country, that, from the year 1658 to
1754, there had not been one Bill of Inclosure, and this
country imported corn. There were, from 1754 to 1796,
during which time there had been a rapid increase of
the circulating medium by imports from the mines of
America, Bills of Inclosure to the number of 3,500, and
this country became an exporting country." The in-
crease of money " facilitated the means of barter, and
gave a stimulus to industry." And yet the men who
maintained this principle, which, indeed, they had
learned to be practically true from observation and
cx-
perisnce,the quantitydelibe orateilym•
money, m,otsenddmfeoarsuprreesvefncdiminish-
ing
in-
crease, by limiting it to the quantity of gold which the
Bank might be able to obtain. Instead of promoting
that which they admitted to be a facility of the means
exactly
bar o
barter, r and a stimulus
, toned, in du sti suchtheyry,a country
tooka
impede an
opposite course, if, indeed,
as this, it were desirable to the means of
barter, and to diminish the stimulus to industry !
Mr. Huskisson was in error as to the matter of
fact when ho said that the comforts and rewards
of the labourer had been reduced by the same means
which stimulated industry during the suspension of gold
payments. It was not so. Mr. Huskisson. assumed it
to bo so, because prices of corn had risen, but wages---
and, above all, continuity of employment from year's end
to year's end—had increased in a much larger propor-
tion than the price of the necessaries of life. It is since
the resumption of gold payments that the condition of
the British labouring classes has sunk. Gold payments
have produced this injury, because of the scarceness of
gold compared with the great need for money at certain
junctures when confidence in the ordinary devices of
credit has been suspended. But if gold become abun-
dant enough to answer all purposes of money through-
out the world, and to be accessible even in times when
money is most required, then, perhaps, the avaricious
bigotry which of late years has done so much evil by
restricting the amount of money to the amount of' gold
is about to be corrected by a providential interposition of
that wisdom which is above man's wisdom.

ADVERTISEIL—Two days of the new year have
passed away. It is to be hoped, that the earnest they
afford, so far as we can judge, of a prosperous state of
things for a long time to come, will not he belied by the
future. The repostesetrem the- manufacturing dierriete
are written in an increasingly hopeful spirit. All arc
looking forward in Lancashire, and the other great marts
of industry, to a marked increase in the extent and re-
munerative character of our commercial transactions.
The public securities, railway shares, and joint-stock
property of every description, have risen considerably
during the to o days of the new year which have already
elapsed. And this improvement, we feel assured, is but
the precursor of a state of more material prcsperity es the
year rolls on. We do not see how it can be otherwise.
The Bank of England is at present in a mug It stronger
position than it was ever known to be before. It has
upwards of 15,000,0001. in bullion in its vaults, with
the certainty of continued additions for some time to
come. Its reserve of notes exceeds 11,000,000/.
It holds a comparatively small amount of bills, and con-
sequently its risk of losses from bad debts, is propor-
tionably diminished. Corn is cheap, and certainly will
not be dearer during the next eight mouths. The
probability lies in the opposite direction. It will most
likely be cheaper. All other descriptions of produce
which enter most largely into the consumption of the
masses are also procurable at exceedingly moderate
prices. Cotton, too, is well ascertained to bo more than
an average crop, both as regards quantity and quality.
Its cheapness and abundant supply are it herefore, also in-
sured for twelve months to come. Here, then, we have
the two great elements of national prosperity—cheap
food and abundant employment. Both these blessings
are enjoyed at present. Hence the favourable position of
the revenue. Nor can we, in estimating the probable
state of scatters for the future, attach too muchim-
portance to the fact, that all the stocks of our manufac-
turers at home, and of our merchants abroad, are at
present at the very lowest point consistent with being
in a position to meet the demands of consumers. There
is, moreover, an absence of all speculation in railway
and other jaint•stock companies. No new schemes aro
before the public, and none will be brought forward for
some time to come. The railway calls, which have ope-
rated so injuriously on the money market and our trad•
ing concerns for the lust three years, have well nigh run
their course. After the present month, when they have
always been unduly heavy, we have no idea that they
will average much more than 1' 000' 000/. monthly, in
which case we shall hear no more of their being of an
onerous character. Another circumstance which will
have a most beneficial effect hereafter on the commercial
and financial prosperity of the country, is the extent to
which our national expenditure will be reduced in the
approaching session. We assume this as a matter of
course. It is a contingency which must come. Nothing
can prevent it. The reduction will inspire confidence.
Whatever may be its amount, it must needs
have a beneficial effect. It will be looked on
by the country as the turning over a new leaf in
the administration of the national finances— as
the commencement of a course of economy which
will be continued until the national expenditure is re-
duced to the utmost extent, compatible with the effi-
ciency of the various departments of the public service.
There is another element of prosperity which has not
yet attracted that attention to which its importance en»
titles it. We refer to the goldFn harvest which is now
being reaped in California.
i It is erroneously supposed,
that because the territory n
.which the discovery has
been made belongs to the United States, they will be
the only gainers. It is surprising that so great a mis-
take could be so general as we know it is. England will
derive immense advantages from the discovery. Enor-
mous quantities of California gold will soon find their
way to this country, in return for our goods, either pur-
chased directly from us in the neighbourhood of the gold
region, or through the merchants of the United States.
But by whatever means the gold
,comes, whether di-
rectly or indirectly, come it will. 11 he bullion of the
whole world, seems, indeed, to be now in course of influx
to our shores. The large arrivals of the precious metals
in England which may be expected to be the immediate
result of the discoveries in California, must exercise a
beneficial influence on trade and commerce, and cause
a great advance in the price of. Consols and railway
shares. The merest tyro in political economy knows
the influence on trade and on the prices of all classes of
exerts.public securities,Thisis th
which
so even s
no
abundshre abundance
eof money always
the currency is
principally paper, but it must be much more so when
the circulation consists chiefly of the precious metals,
gold being the standard of value in all civilized countries.
The benefit which this country may expect to derive
from the discovery of gold in California, if the fields
prove as productive as is generally represented, will be
nearly equal to what might be anticipated from a repeal
of the Bank Charter Act of 1544. California will prac-
tically do for England what the Government and Legisla•
ture have hitherto refused to do—repeal that mischievous
measure. The only circumstance which may be regarded
as wearing a sombre aspect in our future prospects, is the
state of the Continent. France, Geratany, Italy, and
other countries, aro considered by most persons as be ing
still in an unsettled condition. In a certain sense they
are. Still, there can be little doubt, that the tendency
is towards stability. But, be this as it may, one thing
is certain, that England's prosperity or adversity, the rise
or fall of the funds and railway shares will not, in future,
be so much influenced by the state of affairs on the Con-
tinent ns they have hitherto been. We nosy understand
these things better than we did. We feel that our in-
stitutions are safe, however great may be the convul-
sions and changes in neighbouring ccUutries. we pre,