The Sun.
London, England, 1847-10-05 00:00:00

CURRENCY REFORM.

BIRMINGHAM, MONDAY.-At this time a numerous
and influential meeting of the inhabitants of this
borough is in course of being held in the large as-
sembly-room of Dee's Hotel, with a view of taking
into consideration the present state of the monetary
laws.

Alderman WEsToN occupied the chair, and briefly
stated the object of the meeting.
Messrs. Newdegate, Spooner, and Muntz, the Mem-
bers for the Northern Division of the county and
borough, during the Chairman's speech, entered the
room, and were loudly cheered.
Mr. HARLOW then rose, and proposed the following
series of resolutions:

" 1. That the existing depression of trade and com-
merce, as evidenced by the numerous failures of houses
of undoubted solvency, is attributable to the restrictive
and unsound monetary system established by the Acts
of 1819 and 1844, which injuriously interferes with all
mercantile engagements, rendering the same course of
action which is at one time prudent and secure at an-
other time entirely ruinous. That a singledeficient har-
vest would not have affected materially the grew: inte-
rests of the nation had not the evil of scarcity of food
been aggravated by an artificial scarcity of money,
producing a forced and unnatural depreciation in the
values of commodities and other property, and a
sudden and extreme increase in the rate of interest,
and leading to the withdrawal of the usual bankinz
facilities from parties engaged in certain important
branches of trade and commerce, and the consequent
limitation in the demand for labour. That a monetary
system which necessarily breaks down under the
effects of a limited exportation of gold for the needful
supply of food, producing from such cause a general
derangement of trade and commerce, and an enormous
depreciation in the values of property and commo-
dities, thus greatly increasing a national misfortune
like that of a bad harvest, is vicious in principle and
destructive in its operation to the well-being of the
community.

" 2. That the arguments now being used to mislead
the public as to the effects of the expenditure of
money in railway works and other undertakings of a
national character, and to withdraw the attention of
the mercantile and trading classes from the real evils
under which they are suffering, are of no value
whatever, and can only be taken as an evidence
that, in the present position of the country, the
monetary means are not afforded to the profitable
employment and maintenance of the population.
That in the opinion of this meeting, justified by
the history of the present century, this country,
so long as its mercantile and trading operations
are not limited by unnecessary monetary restric-
tions, is fully able to bear an expenditure equal
to that required for the construction of railway
works, inasmuch as that it has borne, without injury
or derangement, a much larger expenditure for carry-
ing on a protracted war, and for other purposes not
likely to become reproductive. That the necessary
expenditure for making the railways sanctioned, after
mature deliberation, by Parliament, has led to the
employment of a vast amount of labour in various
parts of the United Kingdom, and to a consequent
demand for provisions and manufactured articles; and
that no complaints of the pressure of railway calls
were made until the general business of the nation
was suddenly and injuriously affected by the restric-
tive operations of the Bank of England, rendered
necessary by the provisions of the Acts of 1819 and
1844. That the same restrictive monetary policy
has been attended with the same disastrous conse-
quences as in former years, when no expenditure for
railway purposes was proceeding; and that, although
in certain cases, the employment of large amounts of
money for particular objects may lead to some tempo-
rary inconvenience, the evils under which the country
is at present suffering can be attributed in only a very
trifling degree, if at all, to the railway undertakings
now in progress as those undertakings can but slightly
aggravate the difficulties arising from other and more
permanent causes.
"a. That it is the deliberate opinion of this meet-
ing that the Executive Government will incur a
serious responsibility unless they at once propose and
carry into effect some temporary measure calculated
to restore the monetary means and the credit of the
country to an efficient state, and thus to relieve the
commercial and trading classes. That relief and as-
sistance have been afforded in former periods of
extreme national danger and difficulty; and that
there has been no occasion during the last fifty years
when the relief was more imperatively required than
it is at this time. That the demand for labour is
rapidly diminishing in the manufacturing districts ;
and that it will be extremely dangerous further to
neglect those remonstrances which have been already
addressed to Members of the Government, with the
view of inducing them to preserve the nation from the
serious evils which would follow the general suspen-
of employment.

" 4. That while measures of a temporary nature
are required to remove that most severe distress and
suffering which the population are now experiencing,
and to avert the more serious consequences with
which they are threatened, it is important that the
monetary policy of the country should undergo a fair
and searching inquiry before a Committee of the House
of Commons. That it is recommended by this
meeting, that immediately on the assembling of Par-
liament petitions praying for the appointment of such
committee should be forwarded from all the principal
towns and public bodies in the United Kingdom.
That such an inquiry is rendered absolutely neces-
sary, now that the principle of protection to native
industry has been abandoned, and now that it has
become painfully evident that the interests of all
classes, the debtor and creditor alike, can only be
permanently secured by the establishment of a sound
monetary system, capable in its operation of sustain-
ing and extending the mercantile and trading trans-
actions of the nation, and :calculated to prevent
those extreme and dangerous fluctuations which are
the natural and inevitable results of the existing
system.

" 5. That the Committee of the Birmingham Cur-
rency Reform Association be requested to communi-
cate the foregoing resolutions to her Majesty's Mini-
sters, and to forward copies of the same to the Mem-
bers of both Houses of Parliament."

The beautiful marine villa, at Kemp Town,
Brighton, immediately opposite to that of the Duke of
Devonshire, which is announced for sale in our columns,
offers to those seeking an abode in this truly healthy
spot an irresistible opportunity. The residence com-
bines the elegant and useful in the most perfect style
and the view which it commands of the sea and Marine-
Parade is not to be surpassed in Brighton. Mr. Robins
will offer the property to auction at the residence on
Saturday the 16th instant.
CITY OF LONDON GENERAL PENSION SOCIETY.—
Yesterday a special meeting of the subscribers of this
society was held at the London Tavern for the election
of four pensioners, two men and two women. The can-
didates were six men and twenty-two women. The
chair was taken by Lord Viscount Lake. It appeared
that the state of the society was favourable, and the
directors trusted that ere long they would be able to
announce that the payments to the pensioners had in-
creased to their maximum amount, namely, 11. I Is. per
month for the men, and IL 2s. per month for the women.
The directors entreated the support of the public to-
wards the society, the object of which is to provide per-
manent relief to decayed artisans, mechanics, manufac-
turers, or tradesmen, and the widows of such persons
beyond sixty years of age.
THE ROYAL ARTILLERY AND ROYAL SAPPERS
AND MINERS.—The Master-General and Board of Ord-
nance, in order to induce an intelligent and well con-
dncted class of young men to enlist in the Royal Regi-
ment of Artillery and Royal Sappers and Miners—those
important branches of her Majesty's services being to be
greatly strengthened—have approved of regulations for
granting pensions, allowances, and relief to non-com-
missioned officers and soldiers on their discharge from
the Ordnance Military Corps, founded on her Majesty's
warrant for the army, dated May 24, 1847.
FATAL ACCIDENT. Last evening, about six
o'clock, two lads, brothers, named John and Alfred
Hurley, belonging to the Kent Lime-wharf, Horsly-
down, were bathing in the Thames off the Kent wharf,
both of them being expert swimmers, and had ventured
some distance into the stream, when one of them, it is
supposed from being seized with the cramp, raised him-
self out of the water, and, giving a loud shriek, he in-
stantly sank. On rising he seized hold of his brother,
who had swam to his assistance, and both youths im-
mediately disappeared. The accident was observed by
several persons, who hastened with the drags, but up
to nine o'clock last night the bodies had not been re-
covered.
INSURANCE ASSOCIATION AGAINST DISEASES IN
CATTLE.—At Lancaster, on Saturday week, a meeting
of farmers was held for the purpose of forming an asso-
ciation, on the principle of mutual assurance, against
loss
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two following of the many rules determined upon at the
meeting :—" The special object of this association is, to
give farmers, graziers, and owners of cattle the best
means of protecting themselves against losses, by all
diseases and accidents, which they can neither foresee
nor control, but which have hitherto been most injurious,
and frequently ruinous. In effecting this, two great
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mutual—to prevent prevent fraud, no owner will receive in any
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the skin and carcase.
STATE OF TRADE AT MIDDLESBOROUGH • ON. TEES.
—We have great pleasure in being able to state that,
notwithstanding the late trying times, no branch of
trade in our town appears to have been at all afft eted_
The extensive- irott works (employing more than 500
men each), belonging to Messrs. Bolckow and Vaughan,
and Gilks and Co., continue in full operation ; and we
understand large orders have just been received.
Captain Fisher, tlie principal London harbour-
master, was employed during last week in blowing up a
wall of immense thickness ii the Surrey Canal. The
power used by him was enormous; for pieces of the wall,
weighing each of them nine or ten tons, were actually
blown a considerable height above the.contiguous ware-
, houses.