The Sun.
London, England, 1847-11-01 00:00:00

and how he may be enabled to impair our
energies, to weaken all our exertions. The
withdrawal of five, perhaps seven or eight millions of
geld, would indeed paralyse all our energies, reduce
our merchants and traders to a state of bankruptcy,
and depreciate every description of property, to a
degree still greater than that which we have lately
witnessed. Should our Ministry desire to contract
a loan for the purpose of carrying on warlike opera-
tions, or increasing the military or naval power of
the country, how would the price be enhanced by
five or six millions of additional stock being flung
into the money market at the critical moment. It is
hardly necessary to expatiate further on the possible
consequences of a large portion of our debt being
the property of a rival power. They will be obvious
to any person who directs his attention to the subject,
and it will be manifest how necessary it is for the
national honour and the national safety that they
should be removed, and that without delay, or without
waiting for the crisis when the dangers may become
apparent, and the real designs and objects of our im-
perial creditor may be fully made,known.
It may be asked, would it be honest now to make
the change ? 'We answer, most unquestionably so.
All that any stockholder can acquire is a transfer of
the right of the original creditor, with all the
equities which that creditor possessed. It is hardly
necessary to remind our readers that upwards of
600,000,0001. sterling of our debt was contracted in
an inconvertible paper currency, and the greater por-
tion of it when the golden guinea was worth 275. or
28s. He would, therefore, still be paid in a cur-
rency more valuable than that in which the debt was
contracted, and could have no just cause of com-
plaint. Besides, should he be dissatisfied, he may
still sell out and withdraw his gold. The letting
loose of the 50,000,000/. of gold, now uselessly
passing from hand to hand, and which, if
one-pound notes were circulated, would speedily
become available for every purpose—the ex-
ample of Scotland and Ireland sufficiently proving
that, wherever small notes are sanctioned, they will
be preferred to bullion as a medium of exchange—
would enable us readily to pay the full amount of the
debt to every foreigner who desired to withdraw his
capital, and not to accept payment in the national
currency, for which, if properly managed, gold
could be purchased at a very trifling premium.
The example of Russia itself proves that an incon-
vertible currency will not keep specie from the country,
while it greatly enhances the internal prosperity.
After the war Russia did not attempt to alter the
then system, or to substitute bullion for paper.
Hence its extraordinary power and prosperity ;
hence the Emrezon has been enabled to in-
vest 6,400,0001. sterling within the present year
in French and English securities, and hence
the immense bullion fund, exceeding 114,000,000
silver . roubles, or 20,000,0001. sterling, from the
proper application of which, as he states in his ukase,
important advantages for the empire may be secured
in place of letting them lie dormant. 'What important
advantages might not be obtained by Britain
by the proper application of the 50,000,0001. sterling
passing from hand to hand, and which might so
easily be replaced by 1/. notes. On another
occasion we shall show, that if the national notes
were properly managed, there would be no danger
of gold going to such an enormous premium as it did
during the war, or, in other words, of a depreciation
of the national note. The causes that led thereto
are no longer in existence. We have no longer to
pay enormous subsidies to our allies, or to expend
large sums in maintaining an armed force away from
our own territories. 'We doubt not that the note
would always maintain its value, and that gold could
at any time be obtained at a very moderate per-
centage, seldom exceeding a few pence in the pound.

A correspondent writes from Berne on the 25th—
" The Federal representatives are almost all re-
turned from the cantons to which they were sent.
Those for Lucerne, Uri, Unterwald, Schwitz, and
Friburg, arrived here yesterday. Those from Zug
and the Valais are expected to-day. These repre-
sentatives have remarked that in the troops of the
Sonderbund there was in general union, resolution,
and discipline, except that, in the canton of Lucerne,
the militia appeared to be much less well disposed
than in the other cantons ; and there was evidently a
certain degree of apprehension which was explained
by many of the adversaries of the present order of
things being compelled to join the ranks. Of th.t
forces on foot, Schwitz has two battalions of infantry
Italie, one at Kusnacht, the other in the district of
the Marche ; two companies of artillery, which make
a very fine appearance, and the regular number of
officers for two battalions of Land wehr, one at
Einseidlen, and the other at Arth. At Lucerne, the
whole contingent of the elite is under arms. It com-
prises eight battalions of infantry, and companies of
special arms in proportion. There is not a single village
in the canton in which troops are not to be seen.
The sittings of the Diet are now held with closed
doors. The following, however, has transpired rela-
tive to the proceedings at the last sitting. The de-
puties from the Sonderbund, with the exception of
Uri, who seem to have finally left Berne, occupied
their seats. A rumour was current here to-day that
in the secret sitting of the morning, Bale Town and
Neufchatel had declared that they would co-operate
with arms in bringing about the dissolution of the
Sonderbund. In that case there would be fourteen
whole states and two half ones against the seven
Catholic cantons. It is supposed that Bale Town and
Neufchatel must desire not to produce war, but on
the contrary, to prevent hostilities, by depriving the
seven separated states of any chance which the neu-
trality of these two cantons might give them."
The Federal Government has just formed a sixth
division, composed of a brigade of Tessino and a
'brigade of the Grisons ; it will be under the orders
of Colonel LUVINI, and will act against the rear of
the Sonderbund forces. The Diet has suspended its
sittings for the present. The journal of M. DE
STOCKMAR, the Helvetic, says—' In ten days the five
divi ions will be united on different points, ready to
open the campaign."

A letter from Florence of the 22d says—

"The cession of Fivizzano and Pontremoli con-
tinues to excite an increasing agitation at Leghorn,
Pisa, and the mountains of the Pistojese. Armed
volunteers to the number of 2,000 are ready to lend a
vigorous assistance to the threatened provinces.
There has been an imposing meeting held in the
mountains at Radda, at which M. Guitera Vozze, M.
Fabrini, M. Leoni, and other influential orators,
spoke with great effect—so that all present swore
to die, if necessary, in the defence of the provinces.
The Tuscan Government, however, holds out a hope
that it will be able to repurchase Pontremoli and
iti•izzano.

The Patria, of Florence, of the 22d, positively
announces that the Sardinian Government has con-
sented to a customs' league with Tuscany and
Rome, and that definitive negotiations have been
entered upon for the purpose. The same journal
also states that Portoferrajo, the capital of Elba,
one of the strongest fortresses in Europe, is being
put in a state of defence by order of the Tuscan
Government.

Advices from Parma of the l7th state that Mon-
signor GIOVANNI NEUSCHELL, bishop of that city, has
given up his see by order of the Pore. Various
rumours are afloat on the subject, all highly unfavour-
able to the prelate.
A letter from Turin of the 25th says—

"On Friday last, the 22d, a certain number of
young men, preceded by a street organ, traversed
the town, crying Long live Italy !' and chaunting
the hymn to Pius IX. They particularly stopped
before the house of the Jesuits, and before that of
the Governor of Turin, to whom the measure for-
bidding assemblages of the people is attributed. On
the first appearance of the police, the groups dis-
persed. On the next day, the 23d, the singing was
recommenced, particularly before the house of M. de
Latour. The police interfered, and some arrests
were effected. During the whole of the evening a
great number of idlers assembled on the Square of
Saint Charles, on which is the hotel inhabited by the
Governor, and numerous patrols traversed the town.
Yesterday (Sunday) more numerous groups collected
in the environs of the house of the Governor. They
were, generally speaking, not noisy, and appeared to
be composed in great part of mere idlers. From
time to time hissing or a cry might be heard from
one or other of the groups ; but the police agents and
carabineers immediately dispersed the group without
violence. The people made no resistance, but again
collected in groups a little farther off. The general
commanding the division came several times in full
uniform, and begged them to withdraw ; but his
efforts had no greater success, and up to midnight the
vicinity of the square of St. Charles was full of per-
sons. Some were arrested."

The Alba, of Florence, states, on the authority of
a letter from Carrara, in the duchy of Modena, that
on the 17th a great number of persons cried " Long
live Pzvsl.X. I" as they were passing the guard-house;