The Sun.
London, England, 1841-01-20 00:00:00

EVPINING 147.D1T10

its worth only from the coin for which it is a substitute,
may have all the usefulness possible, it should be capa-
ble of procuring or its possessor at any moment the
coin which it represents." But he adds, the Bank
cannot always have at its disposal a capital sufficient to
cash all the notes which it has issued. It so it would
derive no advantage from its credit ; its shareholders
would have no interest in forming or continuing it.
" It is necessary that the perfect confidence inspired
by its paper should render some of its holders
disinclined to exchange it. Thus it will suffice, if
it be prepared at any moment to exchange that por-
tion which, probably, according to the ordinary
course of business, will be presented to it."
This shows that the partners of the Bank of
France are not excluded from profit from the issuing
department, but still they have not kept as much old
in their coffers as they had notes in circulation. We
do not believe that this would be required to secure
confidence in the paper money of this conntry. If our
monetary system were placed again upon a sound basis
—the notes proportioned fairly to the bullion—varying,
too, in amount in the same ratio as the bullion, com-
bined with efficient Parliamentary control and publicity,
so as to satisfy the commercial and trading interests,
and to produce steadiness and uniformity, " the perfect
confidence" ‘.vhicii would be thus spread abroad in the
nation would, under all circumstance s, disincline a large
mass of the holders from wishing to exchange.it for gold.

-
SUN.—The Stock Market was retier animated t)
day, but the business done was chi‘tly on behalf of
the public, speculation being inactive.
The decline in Consols for immediate transfer was
from 9U and 90 to 89i and 90, closing at the latter
price for sellers. For the 25th of next month there
was scarcely any alteration, the quotations being 90
to I. Exchequer Bills were not quite so high, viz.
Bs. to 10s. premium ; but India Bonds improved to Bs.
and 4s. discount. Bank Stock got up 1 per cent.
again, the market value being 169 to 170. The Re-
duced Three-and-a-Hall per Cent. Annuities realised
984 to 99 to-day.
The Foreign Market was rather dull, but prices did
not generally recede. Spanish Active Bonds remained
at 24 to 244 ; Portuguese New Five per Cents. at.
32, and the Three per Cents. at 201 to ; Colom-
bian Stock of 1824, was a trifle better, viz., 233 to
234, and Mexican of 1837 brought 28i. Buenos
'Ayres Bonds advanced from 19 20 to 20i and 21.
Belgian Stock improved to 98i and 984. Russian was
firm at 1131, and Dutch Two-and-a-half per Cents.
were again at 50} to 504.
Railway, Shares were heavy.
There were symptoms of improvement in the Foreign
Exchanges. The rates were, Paris, 25f. .5.5 c. to 6i)c. ;
Hamburgb, IS 7to 4 : Amsterdam, 12 to 4 ; Ant-
werp, 12 2 to 1, and Frankfort, 1484.
The sales of Indigo have been going off well to-lay,
a certain proof of an improved state of things in the
manufacturing districts.

_ -
The following are the official returns of the exports
of bullion from the port of London, for the week end-
ing Thursday last :
Silver Coin to British West ladies 1,200 oz.
Silver Coin to Calais BO,OOO z.
Silver Bars to Calais

SPIRIT of the PUBLIC JOURN A L,,S,

IOOM TM; MuI;NING l'ArlißS OF THIS DAY„
(From the Morning Chronicle.)
The Tories are as deficient in blushes aa in most
other charms, else, instead of voluot. e ing, daily ( riti-
cisme upon the Repeal agitation, the slightest retvence
to that topic would damask their cheeke. The blush
has been called the color viriutis, whir's accounts for
its having no piace amongst the beau ties of 'Toryism.
The Repeal is their own especie'i question : they
alone arc respons:ble for the Infeoting of it, and for
I- whatever interest it has excited in any part of Ire-
land. If its favourable reception has been anything
but very cordial, or very general, the merit is not
theirs. Had the Tories been in power, what is tow
but a murmur would lueve long since been a mighty
roar. if there is a breeze under Loid Ebriugton,
what a hurricane it would have blown bad some
Tory viceroy filled his place! What impudence it
is in the 'forks to taunt the Whigs with an agitaeion
which has been rendered powerless and hurtle,,s ex-
clusively through the popularity of a Whig -Admi-
nistration, and the respect which it has carved for
the British sceptre ! A Government foteeded upon
principles of justice and protection despiees t'ae shocks
which, under one of an opposite character, would con-
vulse and disjoint the kingdom. Let, an administration
come into office upon the principle, of treating Irishmen
as the inferiors of Englishmen, and curtailing the few
rights and liberties that Irishmen enjoy, then indeed
will Repeal be an alarming question, and the voice of
the agitator be echoed by the nation. The Tories,
with Lord Stanley's Bill in their' hands, and actually
menacing Ireland with the manifold proscriptions and_
iniquities of that nefarious measure, presume to charge
the Whigs with the Repeal movement. The parallel
for suelt effrontery is the fugitive pick-pocket, bellow-
ing " stop thief !" Why, had the Tory chiefs held a
sel.emil synod to deliberate upon the' most effectual mode
of driving the people of Ireland into the adoption of a
course of desperation, could they have struck upon a
better plan than the commencement of an attack upon
the elective franchise, led by the most malignant and
pertinacious enemy of Irish liberty and the Irish name ?
" The blood will follow, where the knife is driven ;
The flesh will quiver, when the pincers tear.".
We do not justify the tactics of opposing Lord Stanley
by raising a cry against the Union ; on the contrary,.
the more violent the assailant, the greater the expedi-
ency of conducting the public defence coolly, and com-
bining as much popular 'strength as , possible in resist-
ance to aggression. Mr. O'Connell's prevailing error,
as it appears to us, has been the notion that furious at-
tacks ought to be furiously repelled, and every frantic
Tory demonstration met by one equally frantic on the
part of his outraged countrymen. Now, our notion.
is, that the more of demoniac hostility the Tories
exhibit in their Irish policy, the more should so-
briety and discretion characterise the public oppo-
sition. Let the struggle be one of violence and pas_
son upon one side, and calm resolution and princi-
ple upon the other, and reason and experience forbid us.
to doubt for a moment upon which side will be the
victory. But the question is, which is the party
answerable for this Repeal agitation, the extravagance
of which we thus condemn, and the mischiefs of which
we have so often pointed out ? Who, but the authors.
of all evils, and all calamities, discords, and distubanct3,
through the length and breadth of the empire, but es-
pecially in Ireland, the country of their peculiar bate,
the mark of their uncontrollable animosity ? When the
Tories reprobate the Repeaters, we reply that the Re-
peal agitation is but an index to the extent of Tory
outrage. That such a question has been agitated at all.
is their workmanship, while the fact that, having bee en
agitated, it has made such little way with the people, is the
praise of the party in power, who are so preposterously and
impudently upbraided with having raised and enecuraged
it. But the Tories are not merely the real authors
and originals of the extravagant designs which they
vainly labour to fasten upon these who not only disap-
prove of them in principle, but have discountenanced
them in practice ; the Tories are the only party in the
country against whom the Repeaters could have the
slightest chance of waking head. The Liberals have
once already overpowered a Repeal agitation (and one.
too, of Lord Stanley's production, his Lordship being:
then a Tory statesman in Whig colours and a Whig
Cabinet) ; hut we never have read or heard of a Tory-
Ministry extinguishing a national flame, except by
throwing into it the object of desire. In doing so they
have violated every- principle of policy and honour
without a scruple. In doing so, they have sacrificed,
eiteout hesitation, the vastest and most sured inter-
ests. Not, even the Church itself have theespeeted,
when its immolation was necessary to suppress
an agitation and tnaintain a Cabinet. Thus
they put down the Catholic Association ; thus they ex-
tinguished the agitation of the Catholic question ; thus
they subdued Mr. O'Connell, and thus only could they
subdtie hint again. Is the Act of Union dearer to
them than the Established Church ? Yet, holding the
latter to 'oe the holiest interest and the noblest institu-
tion, and hotline
also its safety to be incompatible with
the emancipation of the Catholics, they nevertheless
conceded that emancipation, and thereby sacrificed
that holiest interest and that noblest institution, prov-
ing )), 1 such conduct both their perfidy and their
w
with which they had neither
the honesty to sympathize nor the courage to grapple.
And this is the party which would snatch the reins
ca
agitation no
slaveso cowardice,
ofe ,
an and ackwlodging themselves the beaten
of Goverianent out of Wide hands—to resist Mr.
ovonnell and Repeal ! They resist Mr. O'Connell
and Repeal ! Probably as they resisted Mr. O'Connell
and emancipation. No, no ! we want other, better,
and stouter deleielers both of the Church and the
Union. A just Government is the only one that can
analogy,
successfully resist improper demands. Judging by
tne Tories would be as easily frightened out
of the Repeal of the Union as they were out of the
Repeal of the Penel Laws. Tyritany is ever cowardly ;
end, beside;, we know that the official Tories would
not only repeal the union between England and Ireland,
but the union between heaven and earth to keep them-
selves an I:our longer in place and pay.
(From the Morning Post.)
town of Leeds being the
many popu'ous places—the
We understand that preparations arc making. in
most active in the work—for carrying on a general and
"agitation," with the avowed object of
altering
tised
he present Constitution of Parliament. The
stiysttpatilioint to be striven for is the extension of the elec-
tive franchise. What we have to apprehend in this
matter is a kind of Chartism engrafted upon O'Con-
e principles of democracy, but without the
nism—hopenlland tuoedisguised declaration of them which English
democrats have hitherto preferred. Revolution is to be.
sought for by a continual process of torment and dis-
quiet—by a persevering system of disturbance within
the verge of the law. We are of opinion that this at-
tempt will fail, because it is opposed to the taste and
habits of the English nation. We will not patiently