The Sun.
London, England, 1840-01-14 00:00:00

DECIMAL COINAGE.

Under an impression that some alteration in the
rate of discount may. be made by the Bank direc-
tors at their meeting to-morrow, many of the discount •
brokers have objected to receive money for employment,
as they might, by so doing, fetter themselves with terms
which they could not obtain on re-lending it. Opinions
differ widely as to the propriety of such a step on the part
of the Bank, and no subject has been discussed of late with
greater eagerness than by those who take contrary sides
of this question. The chief objections to the reduction of
the rate are,that it would operate as a license for those spe-
culations which so many at this moment are impatient to
rush into, and that it could bring no increase of business
to the Bank, as the private lenders will take a rate still
lower ; on the other hand, it is maintained that the
Bank have placed a sort of stigma on the credit of the
country by fixing the rate so high as six per cent., and
that it ought to be removed, for the general benefit of
trade, as soon as circumstances will permit. A great
majority agree in thinking that the advance in the rate
was from the first an injudicous measure, and that they
will act more wisely when they manage to get back
to the legitimate and fair rate, in restraining issues by a
limitation of the amount and a contraction of the time of
discounts, than by another advance.
Speculation in the Stock Exchange seems to have re-
ceived a slight impulse to-day, for, although the market
s somewhat flat in the morning, it became brisk in
the afternoon, and the prices were firm.
The decimal coinage is still a subject of consideration
in the city, and various new schemes, or modifications
of former ones, from time to time make their appear-
ance. Among others there is one for making the
sovereign represent 1,000 " coin" (coin being here
tired as a technical expression, and denoting an ima-
ginary value), the half sovereign 500, the crown 250,
the half-crown 125, the shilling 50, the sixpence 25,
while 12 penny pieces are to represent 50 " coin," as
being equal to the shilling, and 6 penny pieces, 12
halfdence, or 24 farthings, are, as equal to the six-
pence,, to represent 25 " coin." The so-called " coin"
is, in fact, the farthing, as computed according, to the
first-named scheme in the City Article of December 31,
but the penny is in this last scheme placed in.a curious
predicament, for although it will retain its.. present
amount relatively to the shilling, and although twelve
or even six will represent an integral number of
" coins," the single penny will be worth 4 I-6th
" coins," the fractions of the " coin" being neither
represented in the coinage nor the account column, while
the halfpenny will be worth 2 1-12th " coins," and
the farthing 1 1-24th. The advocates of the plan con-
tend that the " coin" being imaginary is no objection,
as the same was for many years the case with the
pound sterling, and dwell on the advantage of the pre-
sent coinage being fitted for their use. The discrepan-
cies between the common copper coin and the " coin"
newly so called, are excused by the trifling amount of
the difference, and it is suggested that change for money
might be given on a system collateral to that of keeping
accounts ; in other words, that while common purchases
were made with ordinary pence and halfpence, the mercan-
tile books might be kept according to a system of " coins."
There is, however, something awkward in the perpetual
inaccuracies to which this scheme would subject the
present, coinage, and the allowances of 24th parts that
would have every now and then to be made. Further,
the scheme is, in its present state, rather to be consi7
dered as the bringing together of materials for a decimal
arrangement than such an arrangement already com-
pleted, for the proposers do not state whether they
intend to effect decimal division by making the highest
• column in the account-book represent half pounds, or
by doubling the shilling. •As there is no new coinage
'designed, it may be conjectured that the former would
be the plan, but the leaving this to supposition shows
• that thy-scheme. has.not..been so thoroughly digested. as
any of those which have of late 'been noticed- under
this head.—Tintes.

KINGSTON PETTY SESSIONS (MONDAY).—
NOVEL CHARGE.—A man, dressed in tattered re-
gitnentals, named David Collins, was brought before
the Magistrates, at the instance of the War-office,
charged with defrauding the treasurer of the county of
Surrey of the sum of thirteen shillings, being the
amount expended for his maintenance in Kingston gaol
for a period of twenty-six days. A gentleman, named
Anderson, attended from the War-office. It appeared,
from the evidence of a policeman and a sergeant of the
18th regiment, that the prisoner had given himself up
as a deserter, and had, been committed to the gaol of
the county, though he had been expelled the regiment
ignominiously for various offences. He had been in the
habit of surrendering himself at different places for the
purpose of being conveyed to head-quarters, and had
given the officers great trouble. He was committed,
under the Mutiny Act, to take his trial for obtaining
the value of his maintenance in prison under false
pretences.
THE EFFICACY OF SILK IN REPELLING
MUSKET-BHOT.—A very promising young officer of en-
gineers, with whom I lived in habits of the greatest
intimacy and friendship, while employed in repairing the
breaches of Ciudad Rodrigo, consulted me respecting an
obstinate headache and giddiness, which I found was
principally occasioned by his wearing a stiff black leather
stock. (earnestly recommended him to lay it aside, which
he rather tenaciously declined ; when, as a further in-
ducement, I told him that, in the event of substituting
a black silk handkerchief, it might one day preserve
his life, as silk wculd certainly turn a ball which might
penetrate leather. At length he complied, and, as I had
predicted, his headache left him. We soon after sepa-
rated ; he going to the light division, and my station
being with Lord Hill. The campaign commenced, and
in :few weeks I learned with the greatest grief that my
gallant friend had fallen at the head of the first storm-
ing party at St. Sebastian. I was then stationed at
Reynoza, many leagues distant. As I believed him dead,
judge my surprise and joy on a letter from him
some three weeks afterwards, acquainting me that, when
on the very glacis, he had been wounded with a musket
ball by a man on the walls. He instantly fell covered with
blood, which streamed in profusion from his mouth and
nostrils ; one of his own corps dragged him into the
trench. He was canied to his quarters, and his wound,
on examination, was pronounced mortal ; the. ball not
being found was supposed to have lodged in the verte-
brae of the neck. He lived, however, for three days,
and no bad symptoms coming on, the surgeons began
to doubt the accuracy of their opinions. 'The sapper
who saw him fall was examined, to ascertain whether
he had seen the bullet, which he instantly pro:luced
from his waistcoat pocket, saying, that on untying Mr.
Reid's silk handkerchief he found part of it carried into
the wound, and using a little force in withdrawing it,
the ball came out with it ; not a single thread of the
silk handkerchief having given way, as appeared on exa-
mination. Mr. Reid recovered, and is now a Lieute-
nant-colonel in the army, and Governor of the Bermu-
das.—Dr. A. Ncak.
'' The Dowager Lady Glenlyon and the I-lon.
Misses Murray arrived at their residence in Whitehall.
• gardens on Saturday evening, from the family scat in
l Perthshire. We arc informed the marriage of the
Hon. Miss Murray and the Hon. Captain Maynard is
o be solemnised on Wednesday next.
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