The Sun.
London, England, 1847-10-30 00:00:00

eventually increased if it be intended at any time to
retitrn to the Act of 1844.
" The new facilities given by the Bank," says the
National, "will no doubt revive some good houses, but
how many bad ones will take advantage of them ?
Ard how is legitimate trading to be distinguished
from speculation ? On the other hand anybody who
attributes the crisis solely to a want of circulation is
strangely mistaken. The true cause is a deficiency
of metallic currency. Now what will be the effect
of the measure ? Will it attract metal to England?
That is doubtful. This is probably what will be the
the result :—The Bank of England will perhaps issue
2,000,0001. worth of bank-notes. Those 2,000,0001.
will be circulated, and will relieve those most em-
barrassed. So far, so well. But these 2,000,0001.
are payable in gold at sight. Now, who can say that
those into whose hands they may pass will not demand
their repayment ? Thence a new cause of the dimi-
nution of the metallic reserve, and consequently a forced
diminution, because in a moment of crisis money is
quickly withdrawn from circulation. Now, the evil
consists precisely in the forced diminution of the re-
serve of bullion. Consequently it is to be apprehended
that, after a passing and precarious relief, greater
distress will be experienced within a period not far
distant."
The Conservateur argues in the same strain, but
there is one important element that all these parties
seem to have left out of their consideration, and that

is the great improbability that Parliament will per.
mit the experiment of 1844 (the signal failure o:
which is now, on all hands, acknowledged), to be re.

peated. On this point we entirely agree with the
Constitutionnel, which says—.
" What will be the ultimate fate of the Bill of
1844 ? Is it suspended temporarily, only to be again
brought into force when present circumstances shall
have passed away ? Lord John Russell, indeed,
seems to announce by his letter that he wishes to
maintain a law which has established the circulation
of the country on a solid basis. But to us it appears
difficult to restore to its vigour a Bill that has once
been suspended. It is evident, in fact, that the re-
strictions it imposes were especially applicable to
epochs of crises like the present, when specie must
be rare from exportations to foreign countries. Now,
if the Minister declares that under critical circum-
stancesthese restrictions cannot be taken off without

alarm, how can he maintain their utility in ordinary
times? We, for our parts, doubt whether the Bill of
1844 can ever recover again from the check which it
has received."
A pamphlet from the pen of M. CAPETIGUIS, en-
titled La Presidence du Conseil de M. Guizot et la
Majorite de 1847, is just now creating a great sensa-
tion in the political salons of Paris. Prepared under
the immediate directions of M. GUIZOT himself (so
runs the rumour), this pamphlet is put forth as a

feeler, to ascertain how far the Government dares

venture in its policy of reaction. The writer advo-
cates the restoration of the law of primogeniture,
and the abolition of the liberty of the press and of
trial by jury. It is a high bid for the support of the
absolutist powers, but it has overshot its mark, and has
created such a feeling of disgust throughout France,
that M. GUIZOT has himself been obliged to denounce
it in the Debats as a code of reaction, and to decline
the compliments paid to him by the author, as the
man of all others best fitted for the accomplishment
of the task of destroying liberty in France and re-
storing things to the state in which they were before
1789.

The Moniteur Parisien of yesterday evening has
the following :-
" The post-boat destined to act as a batardeau, or
breakwater between the present floating dock at
Cherbourg, was, in the evening of the 25th, put on
one of the slips of the building yard of Chantereine
for some necessary repairs. Under this circumstance
it was impossible tbr vessels to go out of the dock at
high tide without great risk, and therefore it was
resolved that the post-boat should be again launched
when the tide fell. In performing this operation the
fastenings of the hawsers and chain were broken, and
the boat came down the inclined plane with such ve-
locity, that the shores, by which it was supported,
were scattered with great force in all directions, and
killed seven men employed in the yard, and wounded
twenty-three others more or less severely. These
latter were carried to the hospital, and have every
care taken of them that their cases require, and the
Minister of the Marine has given orders for relief to
be afforded to their families.
'We read in a letter from Toulon of the 23d :-
"According to information, which there is reason to
believe is correct, the Mediterranean squadron is to
be divided as follows on the coast of Italy. The
Ocean, the lona, and the steam-frigate Panama, at
Genoa ; the Freidland, which hears the flag of Rear-
Admifal TREHOUART ; the Souverain, and Cacique
steam frigate, at Spezzia ; and the Jupiter, at Porto
Ferrajo. The Descartes and Magellan steam-frigates
are on observation, one in the Adriatic, the other in
the Bay of Naples. Vice-Admiral the Prince de
JOINVILLE is, it is still said, gene to Civita Vecchia
in the Titan steamer."
The Three per Cents. closed on the Paris Bourse
on Thursday at 75f. 85c. ; the Five per Cents., 1151.
25c.; the Orleans Railroad Shares, 1,171 f. 25c.;
Rouen, 906 f. 25c. ; Havre, 515 f. ; Great Northern,
503c6. 1 ; Bordeaux,2sc 75c;Vierzon, 537 f.
sBoulogne, 347 f, 50c.;
Avignon,463l.
755208. 1 ;
Troyes and Montereau, 235 f. ; Dieppe, 245 f.;
.;
Basle, 1501.; Paris and Strasburg, 398 f. 75c.;
Tours and Nantes, 385 f. ; Paris and Lyons, 3931.
75c. ; Lyons and Avignon, 475 f.; Spanish Three
per Cents. 281.
LYONS, OCT. 26.-Paris and Rouen, 900 f.; Avig-
non and Marseilles, 521 f. 25c.; Vierzon, 531 f. 25e.;
Northern, 526 f. 25c.; Paris and Lyons, 381 f. 25c. ;
Orleans, 1,1581. 75c....

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, OCTOBEIL 29.
Boulogne and Amiens, 134—Central of France (Orleans
Orleans and Bordeaux, 3% —Over Yssel,
FanrclneNe:ic.roo4L 1434—Dutch Rhenish, 2%—Northern of
31/ dis.—Paris and Lyons, 514—Paris and Rouen, 341/2.....
Paris and Strasbourg, 314—Sambre and Meuse, PA—West
Flanders, 17/3.