The Sun.
London, England, 1847-10-22 00:00:00

to open their own house in Loatit:6, and be no longer
dependent on the caprice of the timid and cautious
London bankers, who knew nothing of the great
power and salutary uses of mercantile credit. 'This
Advice was adopted, and such is the firm of Jones
Loyd, and Co., which now stands at the head of the
banking interest of the city for wealth, • skilful rah- •
egenaen , we believe, yearly professionalincome. '
What our ogrnatical currency reformers, Mr.
Samuel Jones Loyd and Sir R. Peel, would now call
' artificial credit forced to excess,' was the foundation
of this eminent banking firm, and we should like to
see a return made to Parliament of the amount' of
' pig upon bacon ' bills drawn upon it from -Lan-
..p
•
cashire in every year from 1795 t 0.1847 inclusive."
Mr. Duncan then proceeded- to advocate the cause of
the League, very much upon the same grounds as at
the last meeting. No private motives influenced
them ; the clairman was the only member of the
council who was connected with -trade ; ahnort all the
rest had-devoted their lives to literature and to study,
and therefore could have little to hope;for, as far as
worldly wealth was concerned.—(Hear, hear.)
Mr. CAPPS, the secretary, then announced that the
annual subscription was reduced from 10s. to 2s. 6d.
Mr. J. BELL having also addressed the meeting,
. Mr. J. TAYLOR briefly answered two questions
which had been handed in at the last meeting. The
first was, how far the plan of the League would pro-
tect proportionately parties who dealt in articles
taxed respectively 25 per cent., 50 per cent., and 7.5
per cent. Now, the Government would take care to
protect them all from unfair competition from abroad,
and all that the League proposed was, that the
amount of indirect taxation paid by the producer of
an article should be added to its price; that, for
instance, if a labourer paid 2d.
.a day in taxatioa
-upon his pot of porter, he should have ls. more
wages per week in consequence, and that his ern=
ployer should add it to the price of the article pro-
duced.—(Hear, hear.) The other question was,
whether if the paper pound were composed of 20s„
and those shillings were deteriorated by wear and
tear, it would riot lose its value in proportion, just
as was the case.with that of 1695 ? True, the silver
coin was corrupt, and the sovereign rose to be worth
thirty of those shillings, and the paper pound was
deteriorated; but the fact was, that the paper was
allowed to accumulate in too great quantities; it
reached 15,000,0001. of Government money, when
taxation could not bring back much more than
5,006\0004 annually. Under the proposition of the
League there would be no tendency to the deprecia.
tion of the pound, and the fractions would only be
like counters, the pound itself being the legal tender.
There was no reason to apprehend that the pound
itself would undergo any change in value at all. In
1696 Exchequer 51. notes without interest were
issued, and afterwards 10/. notes, and they con-
stituted the common currency ; the Bank of England
had then no note under 201. In 1741, as appeared by
Horace Walpole's correspondence, Lord Walpole got
an end put to these small Exchequer-bills, because of
the trouble they gave him in auditing them; and
Horace Walpole, who had ten per cent. on the mate-
rials used in the manufacture of them, stated that he
should lose 4001. a year by the alteration. The
League would reintroduce these notes, and would
allow the banks of issue to issue their notes, taking
them up in the legal tender money of the State.
The meeting terminated at half-past ten o'clock.

TO THE EDITOR OF THE SUN.
SlR,—Without approving of the Liverpool demand
of advances on merchandise being made by Govern-
ment, a general opinion seems to prevail that an
order in Council authc4ising the Bank of England to
issue two millions of paper beyond its present
limit, would tend materially to restore confidence.
This the Government might surely, with perfect
safety and propriety, grant—for it is only what all
the London bankers, with one exception, requested as
a clause in the Bill of 1844.
Though the Bank would, in all probability, not
require to make use of this authority, yet the fact of
their possessing it would no doubt tend powerfully to
allay the present panic.
If this were accompanied by an announcement by
all railway companies of their intention to suspend
calls, a more satisfactory state of things might imme-
diately be brought about.

I am, Sir, yours, &c.,
Cheltenham, Oct. 20. R. C.

TO THE EDI7'OR OF THE SUN.
SIR,—An issue of 21. and 31. Bank of England
notes would immediately displace a large amount of
gold, now in the hands of the public uselessly, being
in fact an inconvenience, and its return to the Bank
would greatly strengthen the position of the latter.
If objectionable
,against Government securities, or
biker bullion, ii:c ould be made against gold and silver,
antra great criVnience would be obtained for the
pub c, independently of the service to the Bank in
the pa sent emergency. Say, the sovereign as now—
I In paper
Two 'V.'s
41
51. or 2/. and :3/.
i Two 31.'s
Two 9/.'s all 31.... .....
Tw j 31.'s and 2/.
Three 3/'s
Two 51.'s or 101.
I am, Sir, yours, &c.,
Liverpool, Oct. 21,1847

J. B.

MR. 131UCKINGHAM'S LECTURES.

From the nature of the subject itself, as well as the
brilliant reputation of the lecturer, the public are
naturally led to anticipate a treat of no ordinary kind
when they go to hear Mr. Buckingham. The favour-
able impression which he—in his former visit to Edin-
burgh—had left upon the minds of many of our
citizens, survived the long period of eighteen years,
which has since then intervened, and we find an in-
terest and enthusiasm resuscitated, and a sympathy
manifested for the personal losses and privations sus-
tained by this eminent philanthropist, in the course
of his active life, which at once indicate and declare
the hold he has upon the affections of those who are
in the least acquainted with his character and travels.
Air. Buckingham is now in the downhill of life, but
his appearance still bespeaks the indomitable energy
and enterprise through which he has earned his fame.
Mr. B. " broke ground" on Monday evening in the
Waterloo Rooms, when a respectable audience were
in attendance ; the subject being a description of
Egypt. The character, manners, arid usages of the
people, the laws and productions of the country, toge-
ther with a description of the Nile, and the curious
associations, fictitious and real, connected with the
celebrated river, were both eloquently, and in a fasci-
nating manner, related, eliciting throughout the warm
approbation of an attentive audience. There could not
be a better opportunity of acquiring a knowledge of the
people, laws, and characteristics of the principal
Oriental nations, short of actual travel, than by going
to hear the interesting prelections of this eminent in-
dividual. Mr. Buckingham delivered his second lec-
atunrdefyasehsitoenrdaabyle ianutdlileenliceopewteorue ninßoaottmens,dawnhceen_aEladrigne.
burgh Evening Post.

THE MRS. HARRIS OF NATIONS.—We hear our
contemporaries talk about the people of Spain. We do
not believe that there is any such a people. Spain is
tho Mrs. Harris of nations. History, we are avi are,
speaks of such a nation; but we have heard nothit g of
it for above thirty years, when the Spaniards, with oar
assistance, expelled the French from their territory. For
aught that we can make out, Spain has now no pool's-
tion, except a few straggling inhabitants, and even of
their existence we should be ignorant, did we not 'mow
that some of them, from time to time, are shot. The
Napoleon of peace is now invading Spain unresisted.
Would this be possible if there were any Spaniards?
There is a Queen of Spain, certainly, and, by the last
advices from Madrid, she had a Ministry; but we should
be sorry to bet a shilling that she has one now. Her
Prime Minister is one week Salamanca, another, Esco.
aura, another, Pacheco, another, Narvaez; the next, it
may be, Olozaga, or nobody at all. In fact, there would
be no understanding the ins and outs of Spain if we
people in Spain to form an
could not trace them to the intrigues of the Tuileries.
there is tio popular opinion t
They have evidently not the slightest dependence upon
the fluctuations of popular opinions. Of course they
fluctuate. The fact that in Spain
Philippethe rearie
hn
opinion;have not.
consequently are n o
to make that countra ench depend
bdeo udecidedly
h what encouragesalteration
in
io nit
te 11
' iost
Louisthe S'panieslahccOinage The
obverse of the dollar may bear the profilenolfhsleasr.aebememllupas:
but the reverse must display that of---Mrs. Harris.--
Punch.
T Am
in g generalw as
AR SILVER LEAD MINING COMPANY.—The
d-e
rannualtak heldmeeting y e st
eorfd
at
311, e,
ashareholdersa
ninrsthoiffis
offices,
44, Finsbury-square ; Mr. Percival N. Johnson in the
chair. The secretary read the report of the directors
for the past year, showing the operations of the com-
pany to have been attended with considerable success.
The accounts passed at the last general meeting pre-
sented a balance against the mines of 8721. 18s. 4d. The
accounts submitted at this meeting showed a balance in
favour of the company of 8961 4s. 2d.
DEATH BY POISONING.—CHARGE OF MURDER.—
A man named Keenan, a labourer, living in Hunter-
treet, died on Sabbath, under circumstances leading to
the belief that he had been poisoned ; and on criminal
officer Clark making inquiry into the circumstances,
drdee:
de-
ceased's wile was apprehended on a charge of
m
A post ntw t,nz examination, held yesterday (Monday)
by Dr. Easton, showed that
is believed that the
the death of the
it man had
been caused by laudanum ; and ,
while he was
drug was administered to him on Sabbath
under the influence of liquor. Deceased was about 40
age.—Glasgow
years old, and his wife was the same
Guardian.
bout eight o'clock, a rail-
On Saturday evening, a
the station of La
road train from Am jecs'on arriving at
a locomotive which was out of
its place,
hour, and ran
Chapelle, struck against
off
the rails. The train was delayed
nearly
but no person was injured except the
an .
whichoutof its 1
of the locomotive, was
driver
received some contusions.--,French Paper