The Sun.
London, England, 1847-10-08 00:00:00

LONDON,

THE MONETARY CRISIS.
TO THE EDITOR OF THE SUN.
STR,—Will you allow me, through the medium of
your widely circulated paper, to suggest, in a few
lines, the sketch of a 'bold and immediately applicable
remedy for the present crisis, when trade and com-
merce are nearly at a stand, or must soon come to
one, if this fea.rful monetary stringency continues.
Something roust be done, and what is it to be ? if
merchants, and factors, and manufacturers are to
stop, millions to whom they give employment,
either directly or indirectly, will have no earnings,
and misery and confusion will spread and increase.
What, then, can be done to meet the evil ? The
only remedy at present appears to be a free circula-
tion of money, and that immediately. We have no
time to wait until Parliament assembles, to discuss,
amend, or repeal the Bank Act of 1844, or until the
Anti-Gold-law League succeeds in its plans. We
want immediate resources. When the tradesman
cannot get his trade bills discounted trade must
cease! When respectable middle-class inorchants
cannot sell their bills on 'Change, the commerce of
the country is at an end. Go to the banks : they
will and can discount first-class bills only; they do
not doubt the ultimate safety of a middle-class bill,
with drawer, acceptor, and one or more endorsers, but
they cannot give you money for it ! The discounters
have no money for that class of bills, and the con-
sequence is ruinous to trade and commerce.

Let me suggest, then, that the people, the middle
classes, help themselves in this dilemma, and unite
for opening immediately

A UNIVERSAL COMMERCIAL ASSOCIATION.
Let everybody pay down U., for which a certificate
shall be given, which certificate may be used as se-
curity, or perhaps even as a medium of circulation, by
which the capital would be doubled. Let these cer-
tificates bear five per cent. interest (or in coupons of
6d. for six months); the capital thus brought toge-
ther to assist its members only, and not to interfere
with any existing establishment, the capital to be used
in discounting bona fide trade bills, and making loans
on good, safe, and available securities, duck-warrants,
staple commodities, &c. Such an association can be
formed and be in work in a few days, after this sug-
gestion finds favour with the public. One pound paid
down, with no calls and no liabilities, may bring a
capital together large enough to assist, to:some extent,
the bond fide trade and commerce, and with a prudent
management, may, in a little while, increase and work
beneficially for even the higher mercantile under-
takings. . _ _

I have been desired to give this proposal some pub-
licity. Your readers may consider the propriety of
such an association, and whether they will, more or
less, participate in its foundation, and assist either
with one pound or one hundred pounds, as they may
feel inclined. Whether this proposal be adopted or
rejected, or whether it may lead to some other pro-
posal _better adapted to the present wants of the
great commercial body of this country, who labour
under daily difficulties, which, I believe, can soon be
remedied by such a union of strength through small
means, as an association of this kind would effect,
I throw out this suggestion in the hope that it may
call attention to some-mode of relieving the present
severe pressure, and enabling tradesmen and others to
get their regular business transacted.
I am, Sir, your humble obedient servant,
6, Walbrook, London, Oct. 6, 1847. A. B.

TO THE EDITOR OF THE SUN.
SlR,—May I beg of you to republish (with such
additional observations as existing circumstances may
suggest) the admirable leader in your publication of
the ::;Oth of April. Your words were prophetic--
your worst fears are more than realised, and we are
rapidly descending into an abyss of commercial suf-
fering, compared to which that of 1825 will dwindle
into insignificance. That concoction of ignorance
and obstinacy—Peel's Bill of 1819—and its " com..
plement" of 1844, may now be seen in their true
colours; and bitterly has the country at large to
lament that the warnings of the " Sir Robert Peel"
of 1819 were not listened to, instead of the glosing
sophistries of his clever son. Ruin stares us in the
face, whilst the elements of prosperity, peace, and
plenty, are obviously in our possession. How long
will this most patient, enduring nation, suffer itself
to be thus oppressed and trampled upon by wild
theorists, who set at nought and despise the dictates
of experience ? I would willingly believe that,
though mistaken, they are honest; but some mis-
givings upon this head may not unreasonably be
entertained, when it is considered that, under the
operations of Sir Robert's crotchets, every thousand
pounds of his princely income becomes equal to
eighteen hundred, at least, of the currency existing
under that system, during the continuance of which
it was principally acquired. We are now at the
commencement of that season when the poor espe-
cially require the comforts of food, clothing, and fuel;
and the prospect before us is ruined merchants and
manufacturers, mills standing still, and the opera-
tives without employment. Will men, having hearts
to feel and hands to act, sit quietly at home and see
their wives and children in rags, and starving ? Let
our rulers look to it, and be warned in time.

What greatly aggravates the sufferings which we
are undergoing is, that the measures which produce
it are absolutely without an object. The helplessness
of the Bank of England, owing to the law of 1844,
has reduced prices low enough to satisfy even Sir C.
Wood ; but has it produced the predicted result ?
Have our exports been correspondingly increased ?
and what he calls " the real payment for our imports
of grain begun, and the pressure on our resources
thereby lessened." Let the beggared thousands of
Lancashire and Yorkshire give the response. The
measures which he and those with whom he acts
uphold, and laud as the perfection of human wisdom,
have the directly opposite tendency. The lower
prices are forced the greater the difficulty of finding
the reduced payment ; and the enormous sacrifices
which are daily being made to uphold credit, in the
hope of a favourable change, will only render eventual
ruin more certain, unless the iron grasp of the law of
1844 be immediately relaxed. It would be as rea-
sonable to expect a man to live with his blood stagnant
in his body, as for trade and commerce to thrive
without that free and ample circulation which is
their life-blood and principle of vitality.
I am, Sir, yours obediently,
Liverpool, Oct. 7, 1847.

M. W.

THE DOG-WHISTLE.
TO THE EDITOR OF THE SUN.

SlR,—The necessity of some means of communica-
tion betwixt passengers in railway trains and their
guards or engine-drivers, in case of accident, is ad-
mitted, and I see plans for such purpose, some both
complicated and expensive, daily brought forward for
companies to adopt.
Now, as you know how hard, from various causes,
public bodies are to move in such matters, why may
not each passenger (especially he who constantly
travels by rail) take care of himself, and, by an out-
lay of the trifling sum of sixpence in the purchase of
a small dog-whistle (such as the guards themselves
use on some lines), have constantly the means of
raising an alarm. The size of the implement could
be no obstacle to its adoption, and its loud shrill tone
would ensure attention.—l am, &c.,
WILLIAM DITCHETTE.
Stockton, Oct. 7, 1847.

HUMAN PUNISHMENTS AFTER
DIVINE FORGIVENESS.
TO THE EDITOR OF THE SUN.
Sza,—Having been a reader of your paper for
eleven years, I have remarked that you often origi-
nate, and are ever willing to support, a truth, before
it has received popular assent. I therefore select
your columns in which to offer a legislative sugges-
tion—not a lengthened argument—which I hope will
receive the attention of some of our human law-
makers.

During the past week I have been struck with
the fact—but the particulars of which I have for-
gotten--that some criminal in this country, or who
was a criminal seven years ago, is in danger of
punishment now, for a crime committed then, and
even though the knowledge of such crime rests on
his own penitential confession.
The bare idea seems not merely so un-Christian,
but so brutal and unjust, that one is tempted only
to exclaim, in the titled words of a pamphlet, pub-
lished some few years ago, "Man unfit to govern
man."

But, Sir, if we are not advocates of such a general
position as those words convey, surely we must admit
that laws which are so cruelly retrospective ought
not to exist in a country professedly Christian.
Human nature is weak, even at its most mature and
strongest moments, yet it appears that a youth may
have been led into crime, may have literally re-
pented, reformed his character, established himself in
a useful and honourable position in society, surrounded
himself by many who depend on his industry or
benevolence, may have become (chastened and disci-
plined by experience) the valuable guide, instructor,
and guardian of others ; yet, because his former error
or crime is confessed or detected, he is, by human
laws, to be dragged from an honourable and useful
position to prison and to punishment ! Can such a
thing be tolerated by law-makers, who read of one
Jesus of Nazareth, who came to save repentant sin-
ners, to save and receive men who were even in their
sins ? Shall it be said that legislators will not for-
give a man who merely sinned seven years ago ?
But, Sir (for you cannot allow me space to argue),
will it continue in this country, that while men by the
Statute of Limitations cannot be made to pay their
just money debts of more than six years' stand-
ing, a poor criminal, whom God has long par-
doned and perhaps received, shall pay with his life
moral debts contracted nobody knows how long ago ?
I am not a lawyer nor a legislator, and therefore
do not write to propose a remedy; for, I believe, a
Christian should have no hand in making laws for his
fellow-man ; but I do say that those professing Chria-