The Sun.
London, England, 1847-10-06 00:00:00

WEDNESDAY_ EVENING, OCTOBER 6, 1847.

than that there is a tax on every commodity, Gold
is a commodity, and therefore taxed. But we are
asked by the Right Honourable Baronet, in his mild,
pleasing, gentlemanly way, " What is a pound ?"
Why, I told him, and we all know, that a legal pound
is a certain quantity of gold, of a certain fineness,
and bearing the stamp of the Queen's head. But, Sir,
is that pound the same pound in which oureight hun-
dred million of debt was contracted ? Is it the same
pound with which the owners of the soil charged their
estates with pensions for their younger children ? I
answer " No." Look at the debates. I remember in
1820 I discussed the question with Mr. Ricardo, and
he then stated that the effect of a return to the old
standard would only make a difference of 4 per cent.
I ventured to doubt it, and to say that it would make
30 per cent.; and I understated the amount; and
Mr. Ricardo then said, if he could agree with me that
the effect would be 30 per cent., or even 10 per cent.,
it would be impracticable, and we had no right to
undertake it. Now, I ask you all, as practical men
—as men in business—l ask you, from what you
know of that which went before, has the Bill of 1819,
has the change of currency, effected only an alteration
of 4 per cent., or whether you have not found that
it has made an alteration of from 13 to 14 per cent. ?
Has it not affected public credit ? Has it not
affected private debts ? Has it not affected every
engagement into which you have entered ? Is not
property depreciated, whilst debts remain the same ?
Has it not robbed the debtors to the injustice of the
creditors ? Have they done what they ought to have
done ?—and if the remedy is not applied, will there
not be a source of confusion and distress horrible to
be contemplated by every lover of the welfare of his
country ?—(Cheers.) Well, then, it has been said
that you rob the creditors, but I say that you cannot
do justice to all without doing slight injustice to some.
But I aver that it is to the interest of the creditors to
have a speedy adjustment of the monetary system;
for the only chance of the creditor to receive that
which is due to him is to put the system on a just and
equal footing between the debtors and the creditors ;
to put out a circulating medium sufficient for the
energies of the people, and without which debts owing
wid never be obtained. With respect to what I
should recommend on the present occasion, I wish to
have it known I declare it openly, and I believe my
late honourable colleague knows the same, that I had
not the slightest hand in getting up the meeting. I ab-
stuined from it altogether. I knew it would be at-
tributed to Mr. Attwood and to me, and I considered
that it would be better to keep in the back ground,
and I determined not to stir a peg. If you, fellow-
townsmen, are ready to stir, we are willing to assist
you. I have tried to assist you for many years ; in
vain I endeavoured to press the truth upon you ; and
I say to you it is now in your power to relieve your-
selves. Many have laughed at me in the House of
Commons and in the House of Lords. Some of them,
however, have within the last twenty-four hours
stated to me their alteration of opinion, that they be-
lieve the whole currency a delusion. The. best way,
I think, is for the meeting to appoint a committee,
and then they should apply to you for funds. I re-
commend that committee to apply to the present
Government; it is not easy to make any impression
on Sir Charles Wood, for he possesses that quality so
desirable to possess in difficult times, that he will not
see anything wrong—he will not believe that anything
is wrong until it comes home to his own house.
Gentlemen, the Right Honourable the Chancellor
of the' -Exchequer is like the ostrich of which
I have.resid—he hides his head in a bush, and then
be_lievee'that his whole body is safe. He ssays —let
the people only pay the taxes and all is right. He
tells you that all the present misery and ruin is owing
to over-speculation, to over-trading, to railways, and
to everything but what is the just and real cause.
Mr. Taylor, who understands the question better Wan
most men, who has laboured and written in the cause,,
and to whom I am myself much indebted for the con-
firmation of those opinions which I had formed before
I knew him, has pointed out to you two passages in
Sir Charles Wood's speeches, in which he stated, not
long ago, that we were in a wholesome state of trade.
But now, because the gold is gone, and bank-notes
have gone in the same proportion, because if gold
goes the circulation must become contracted in the
same proportion, he tells you that there is something
rotten now—that railways and over-speculation
have killed you, and that what was good then
is now altogether wrong. I fear, gentlemen,
that I trespass on your time, but I tell you
that I have scarcely entered on the subject, much less
exhausted it. It is a most complicated one, and on it
the happiness of our fellow-creatures and the future
prosperity and welfare of the nation depend. I tell
you freely and honestly that the crown on the
Queen's head is not safe unless the Ministers take on
themselves the investigation of the subject. I know
that this is bold language, and I dare say it will be
reprobated, but at least it is honest language, and
formed on the conviction of my own mind. It is an
opinion formed on no basis arising from my profes-
sion—that of a banker. I tell you, and you know it,
that my prosperity depends on yours, and I am there-
fore likely to form a good and sound judgment as to
what will lead to your prosperity. I will tell the
proudest Minister, surrounded by his head men of
office—men of the highest classes, not men sup-
ported by commerce and manufactures—although I
do not wish to say that men of high families
should be proscribed from taking office—that they
are not the most likely parties to detect evil ; I will
tell them to follow the example of William Pitt,
who sought for information from the manufac-
turing classes, and who turned round to a depu-
tation, and said, when they stated the evils that ex-
isted, and applied for a remedy, " If Parliament loses
the power to relieve distress where distress exists,
and to remedy evils where recognised and acknow-
ledged, it loses the only function for which it was
created, and the only use we can derive from it."
Sir, I thank you and my fellow-townsmen for the
patient hearing you have given me, and I believe it
wants nothing but that yours and other great meet-
ings should declare that they want inquiry to obtain
inquiry. It is possible for a great nation so to adjust
all the different proportions between debtor and
creditor, and so to arrange a circulating medium, as
to carry out all our great commercial transactions, to
act with justice to all parties, and to restore peace,
happiness, and prosperity—to act towards the labour-
ing classes, who are the very foundation and strength
of the nation, so as to place them in a position where
every man who is willing to work shall command
work, and that he shall not be compelled to ask as a
favour to be permitted to use the labour of his sinews
in order to obtain a morsel of bread.

The resolutions being carried, and a rote of thanks
been passed to the Chairman, the meeting broke up.

PRINTERS' PENSION SOctory.—Last night a meet-
.ng of this society was held at the London Tavern,
Bishopsgate-street; Mr. J. C. Bloomfield in the chair.
The Secretary (Nir. Hodson) stated that since the last
meeting no less than ten of the pensioners had died
during the year, being a larger number than ever oc-
curred in any previous year; the next election of pen-
sioners would take place in March, and several of the
applicants had already been admitted as candidates;
the number of pensioners at present on the books of the
society was only 43, the average number being 50.
Since the formation of the society in 1827, no less than
130 persons had received the benefits of the society,
which was to afford permanent relief to aged and infirm
printers and their widows, by the granting of pensions
of 121. 12s. to the men, and 8/. Bs. to the widows. The
subscriptions and donations were very favourable, and
although, the capital stock of the society amounted to
5,0001., the committee strongly urged upon the sub-
scribers the necessity for further exertions in aid of the
funds of the society. The trip to Brighton, and the pro-
duce of the benefit at Vauxhall were also productive,
but not to the extent desired. The general business
having been gone through, a vote of thanks was passed
to the chairrn in, and the meeting broke up.
THE MAILS.—SOUTHAMPTON, OCT. s.—The Ori-
ental Company's steam ship Jupiter, Captain Meehan,
from Gibraltar, arrived here this day at 12 30, and lauded
the Peninsular and Mediterranean mails, under care of
Lieutenant Wilkinson, which were forwarded to London
by the one o'clock express train. She left Gibraltar
Sept. 26, Cadiz 27, Lisbon 29, Oporto 30, and Vigo Oct.
1. She has brought home 15 passengers, and a cargo
consisting of specie, grapes, lemons, eggs, leeches, barns,
melons, and twelve head of bullocks. Intelligence from
the ports.—Gibraltar—Her Britannic Majesty's steamer
Virago, a French brig of war. At 9 a.m. arrived the
Peninsular and Oriental Company's steam-ship Ilindos•
tan, and left at 3 p.m. for Malta, &c. The Peninsular
and Oriental Company's steam packet Pacha arrived
Sept. 22. At Cadiz—The Spanish frigates Isabella II ,
Villa de Bilboa, and a steamer ; a French steamer and
English yacht, Stormfinch. At Lisbon—St. Vincent,
Queen, Caledonia, Canopus, and Vengeance; steamers—
Sidon, Odin, Dragon, Avenger, and Jackal ; a French
frigate and two steamers ; a Spanish frigate and one
steamer, and the usual Portuguese squadron. In the
Douro, Sept. 30.—Her Majesty's steamer Polyphemus,
and French brig Meleagre. The Jupiter had light winds
and fine weather most part of her voyage.
The Observer of Sunday last gave six folio columns
of monetary matters, commercial failures, and railway
intelligence. The articles chiefly original, and matchless
for their accuracy. Price of the Observer (40 columns),
6d. There is scarcely a club house, institution, library,
or news-room in all England, Scotland, Ireland, the Con-
tinent, East and West Indies, America, itc., in which the
Observer is not taken in, and frequently duplicate copies
The extensive publication of the Observer commences at
six, and concludes at ten on Sunday morning. AMon-
day edition of the Observer, best adapted for the country
and abroad, is regularly published at four o'clock on
Monday afternoon.
understand
GREAT NORTHERN RAILWAY.—
that it is the intention of the board of directors to renew
their application to Parliament, in the ensuing session,
for the promotion of the Isle of Axholme extension
line, embracing Wakefield and Leeds, in connexion with
the GrQat Northern Itailway.—Doncaster Gazette.
Lord Brougham, who has been entertaining a select
circle at Brougham Hall, Westmoreland, is expected to
arrive in Grafton-street at the close of the ensuing week,
en route to his Lordship's chateau at Cannes, in the
south of France, where the Noble and Learned' Baron
intends to pass the winter.