The Sun.
London, England, 1849-09-05 00:00:00

THE NEW WORLD.

A second number of M. Louis Blanc's monthly re-
view has, in due season appeared ; and seeing that the
chief portion of the journal is of an in-
terest entirely apart from either Socialist
or Communist interests, we can regard it
as somewhat less repugnant to our ideas than its pre-
decessor. Among the various papers comprised in the
number for September we must particularise with all
commendation an admirable chapter upon the fortunes
of Hungary. M. Louis Blanc is baffled in the
opinion as to whether he should regard Georgey as a
Dumouriez or as a Maroto. Has he betrayed the cause,
or alas ! has he sold it? Whatever is the case, we
fear that Georgey may never more exclaim with
Francis I. at Pavia, " Tout est perdu fors rhonneur!"
At the close of a powerful, touching, and eloquent
appeal to Louis Bonaparte to remain true to his oath
of allegiance to the Republican institutions, M. Louis
Blanc has written this forcible and admirable para-
graph :
" And now, Sir, it appears there are some who tell
you, the Empire must be restored! But it is because
the mission of Napoleon was exhausted, entirely ex-
hau,ted, that he has been lctt to (ho upon that rock from
which, howl ver, he was perceived from the whole world.
" Is it the work of your uncle, tc.gcther nith war that
you want? For that we need another Europe atAl a
second semi-god.
"Is it the work of your uncle without war? But it is
despotism without gb,ry; great lords covered with em-
broidery, without soldiers covered with scars; courtiers
over our heads without the world at our feet; it is grei.t
name without a great man, it is the Empire without
the Emperor."

The paper from which this is extracted is the most
remarkable and altogether the most important in
No. 2 of the New World.

THE BANKER'S MAGAZINE, Journal of the
Money Market, and Railway Digest.
This highly useful and important publication for
the present month opens with a very able paper " On
the Periodical Fluctuations in the Currency of the
United Kingdom." In explanation of the causes
which operate to produce fluctuations in the circula-
tion of the Bank of England that do not affect other
banks, the writer observes—
" This Bank having the exclusive monopoly of the
note issue in and around London, and London being the
centre of the money market for all Europe and America
besides, where all the balances are settled, it must na-
turally follow that the circulation of Barak of England
notes is subj( et to a greater variety of influences than
the local currency of any other bank of issue. The pay
-
meat of the public dividends is the principal cause of
the fluctuations which are observable in the returns.
But there are several other circumstances that produce
changes from time to time. Thus, the payments on
account of the dividends of the several railways, banks,
and other public companies, all produce more effect on
the circulation of the Bauk of England, than on the issues
of other banks; and the action of the private depositors
depending on the lodgment of bullion, while the foreign
exchanges are favourable, and its withdrawal, when
hey are adverse, produce greater changes than can,
take place in the private and joint-stock bank of issues.'
' " Letters to a Branch Manager" are continued and
concluded. Thera are important and interesting
papers on the Country Circulation, on Bank-
ing in France and in New York ; indeed,
there are few important points connected with
our monetary or banking system that have not been
touched, but the chief feature in the present number
is the immense quantity of railway intelligence it
contains. It gives the reports of all the
railway meetings lately held throughout the
country. The account of these meetings
required so large a supplement as to swell
the present number to nearly double its usual size.
The vast importance of this information cannot be
over-estimated at this critical period. We cannot too
highly commend this number to the attention of the
trading and commercial world.