The Sun.
London, England, 1847-12-23 00:00:00

ROYAL SURREY THEATRE.

Lessee, Mrs. F. Davidge, No. 1, Davidge-terrace, Kensington-road,
Surrey.
TO-MORROW EVENING,
THE DAUGHTER OF THE REGIMENT.
Characters by Messrs. IL Phillips, King, Horucastle, Rafter, Att.
wood, M`Mahon, and Miss Poole.
To conclude with GUY MANNERING.
di*tiaci: entrance to the private boxes has been made (which
have bee* re-fitted). Private boxes may be had nightly •f all the
Principal Librarians ; and at the Box-office of the Tkeatre, which is
•pen daily from Ten until Four.
Bo.xes, 2s. ; Pit, Is. ; Gallery, 6d.

ASTLEY'S ROYAL AMPHITHEATRE,
Proprietor and Manager. Mr. William /tatty.
No Performance on Friday and Saturday.
Mr. Batty's performing Elephants.
THIS EVENING
The Grand S'ectacle of THE CAMP OF SILESIA.
Entire new Scenes in the Arena, by the talented Artistes of
the Establishment, In the various modes 01 equestration.
To conclude with a new Domestic Drama, called THU WRITE
FARM.

In preparation, a New Grand Comic Christmas Pantomime, which
Will exceed in splendour and effect all former productions at the
Amphitheatre,

Box-office open f:om 11 till 5
Acting and Stage Mant.ger, Mr. W West.

fill WEATHEE.—SUN OFFICE, DEC. 23.
THERMOMETER, Lowest, 31 ; Highest, 33 ; Noon, 32
BAROMETER, 29 92 .-,IIVIND E.S.E.; cloudy.

.1: WA.TEI: AT 1.074D0N-n12.1001.1 DA.Y.
Morning.. 82 minutes atter 2. Evening .. 53 -nlantes ,RA. 2

best feelings would willingly seek for all that is pious
and good in the Catholic faith." " Can nothing," he
asks, in a sub.equent part of his communication, "be
done to remove from us so heavy a scandal ?" Such
is the manly, zenerou4, and respectful letter forwarded
to St. Jarlath's by the Earl of ARUNDEL and SURREY
—a letter which doubtless gives utterance to many of
the sentiments which are uppermost in the bosoms of
his co-religionists.
To this important remonstrance the Archbishop of
TrAM returns an epistle which is little less than a
most courteous prevarication. It is true that there is
not in the latter effusion any of that flagrant so-
phistry which characterised Dr. M'HALa's letter to
the Prime Minister. The "Lion of the fold of
Judah " no longer roars forth his extenuations of
crime attributed to a APDERMOTT, or his sym-
pathy in the offence charged against Arch-
deacon LAFFAN. He no longer says with
such unprelatic severity—" probably the reason
why the Catholic clergy are arraigned is not because
they have omitted the inculcation of the sixth com-
mandment, but because they have explained with
rather too much theological accuracy the variety of
ways in which persons may be guilty of its infraction."
As if it were justifiable in any clergyman to expatiate
from the altar steps upon the sins of persons altoge-
ther removed from their ecclesiastical jurisdiction !

as if it were laudable to follow up the adoration of the
Godhead by the denunciation of one of his
creatures !—as if it were safe to say to a
reckless and infuriated peasantry, " Such a man is
like CROMWELL, and...vet he lives;!" But Dr. M'HALE
forsakes for once his favourite style of disputation.
The gentle but impressive epistle of the Earl of
ARUNDEL and SURREY has so far subdued the moral
pugnacity of the prelate as a correspondent, that he
answers the young Peer with extraordinary circvm.
spection of manner, and unprecedented temperance of
language. Still his reply is the very reverse of
satisfactory, it is an evasion that almost degrades
the writer at times into the apologist of criminal
denunciators.

Much as the spirit evinced by Archbishop M'HALE
throughout these transactions must be deplored, sus-
picious as may be the quietude of the ecclesiastical
authorities in Ireland, heinous and diabolical as is the
infamy accruing to the Catholic tenantry from such
bloody deeds of assassination, it is creditable to the re-
ligion when laymen can boldly pronounce their abhor-
rence of criminals whose continuance among them is
an enormous disgrace to the priesthood—when Lord
BEAUMONT can speak as he has spoken within the
walls of Parliament, and when the Earl of ARUNDEL
and SURREY can write as he has written to the Roman
Catholic Archbishop of TUAM.

We yesterday pointed out the manner in which
goods are transferred from hand to hand during the
progress of manufacture, and that, according to the
ordinary course of trade, they are paid for at each
transfer by bills of exchange of the then value, and
that by this means a species of currency is required
to perhaps eight or ten times the value of the raw
material, and at least three times the value of the
manufactured article. It may be very easy to say
that this is not a sound state of trade, that the actual
capital is several times represented, or in other words,
the labour, the only true capital, which gives the
increased value to the article, is mortgaged three
or four times over. But why is this the case ? Simply
because the monetary code occasions an artificial
scarcity of money, it prevents any kind of capital, save
and except bullion, being represented by notes pay-
able on demand, or otherwise than by those hills of
exchange. It would doubtless be much better if the
various parties were enabled, on purchasing the goods
from the former holder, to pay the cost price in actual
cash, but it is utterly impossible that it should be so
while the circulation is so inadequate to the wants
of the country as it is at present. In the case
which we yesterday selected as an example,
the worsted spinner's capital is required to
pay for the labour which he is forced to
employ, to the amount of 5001. He accepts a bill
for the 1,1001. to the woolsorter, because he relies
upon being able before that bill becomes due to sell
the goods at an increased price, which will not only
enable him to pay that amount, but will reimburse
him for the money he has expended in actual labour,
and will also afford him that fair profit of his trade
which he has a right to expect. He can only accom-
plish these objects by baying a facility for exchang-
ing the bills, which he himself must accept from the
parties to whom h.? disposes of the produce, for
money that will liquidate his own acceptance
and enable him to satisfy his workmen for
the labour that he requires in carrying

on his manufacture. lf, by reason of any panic or
want of confidence, he cannot effect such an exchange,
or, in other words, obtain discount for his legitimate
trade bills, he must suspend payment, discharge his
operatives, and abandon his business ;or he must
decline to sell on credit, according to the usual
course of trade, and send his goods to the
market to be sold, or rather sacrificed, for whatever
ready money can be obtained therefor. The supply
will then be found to exceed the demand, prices will
be depreciated, it will require a much greater quan-
tity of his manufactured goods to be disposed of, in

order to obtain a sufficient sum to satisfy his debt to
the woolstapler than he had calculated upon ; he will

find himself a serious loser, so that his capital will be

sacrificed, and he must give up employing the
people, or induce them to accept reduced wages.
While so many fluctuations in the value of

money take place, as must be the inevitable
consequence of a currency wholly based on bullion,
there must be a considerable risk to every person
engaged in trade and manufacture, and that risk
must be compensated either by an increase of price
to the consumer, or by cutting down the wages of
the workmen, or by a combination of both; the
former method, however, cannot be made available
to any great extent, so that the latter must be
resorted to, and the industrious and hard-working
man, whose only capital is his labour, becomes the chid
sufferer, although every person in any manner
engaged in trade participates in the evil to a greater
or less degree.

We have struggled earnestly and energetically for
free trade, we felt the deep injustice of taxing the
food of the people for the benefit of a class,
and of preventing our manufacturers from
obtaining markets for their produce, by forbidding
them to exchange that produce for the commodities
of other lands. We objected to the pernicious mo-
nopoly that was formerly sanctioned and tolerated,
because it obstructed the creation of national
wealth, and forbade the employment of the labouring
classes ; but our monetary laws are, if possible, still
more destructive to the national prosperity, still more
injurious to the best interests of the people.
Through the operation of the banking en-
actments, the people have been deprived of
employment deprived of wages deprived of
the means of subsistence—suffering the conse-
quences of a famine in the midst of plenty and abun-
dance, and submitting to the greatest privations at
the very time when there has been a national thanks-
giving for the bounteous harvest with which we have
been favoured. How long will the people submit to
this lamentable state of things ?—how soon will they
shake off their apathy, and earnestly and energetically
agitate for a reform of the baneful system ? How
soon will a COBDEN arise to direct their exertions,
and to keep up an agitation which must eventually
lead to a triumph ? The question must be made
popular out of doors before we can hope that convic-
tion will be wrought in the minds of our Legislators.
The bullionists attempt to smother discussion, to
sneer down the arguments which they are unable to
answer. Many causes are assigned for the national
distress, but the principal one is kept out of sight.
Inquiries are to take place, but if possible all investi-
gation into the working of the Act of 1819 is to be
avoided. That of 1844 may be questioned, but that
from which it is derived must be left untouched ; a
metallic. standard is so sa-n-ed that everything else
must be sacrificed to its security, and it is a species of
sacrilege to doubt how far its maintenance is com-
patible with the prosperity, the security of the
country.

.CCOUII'

Lave been received from Athens to the

9th inst.
The Senate met on the 6th, and the discussion so
abruptly broken off on the 16th of Nov., respecting the
nomination of the new senators, Wa again mooted,
but the result was another of • those scaadaicius

4 Znt.
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