The Sun.
London, England, 1851-01-29 00:00:00

THE CURRENCY LAWS.
(From the Derbyshire Courier)
If it be lawful to learn from an enemy, it is surely
wisdom to attend to the advice of a fri, nd. We kg
leave to remind our agricultural readers of a recom-
mendation made to them, at this period of extreme
depression, from a quarter in which none of them
can suspect an intention to mislead. In the Address
of the General Committee of the National Society
for the Protection of British Industry, of the
date of December 12, 1850, signed by Mr. George
Frederick Young, as chairman, the agriculturists are
advised to make " an energetic demand for a revision
and amendment of the present currency laws, the
provisions of which not only embarrassed the action
of the protective laws while they existed, but materi-
ally contributed to the ultimate subversion of those
laws, and would again impede and neutralise their
action if restored." Can any words convey to the
agricultural body a more complete and definite con-
demnation of the existing monetary system ? The
currency laws, the address declares, require " revision
and ammdineet"—they are, therefor., bud laws.
Tuey interft•red with protection in past times ; the y
contributed to cause the entire withdrawal of protec-
tion; and as to the future, if you could get back pro-
tection, the present currency laws would " impede and
neutralise" its advantantages. Now, look at the report
of what was recently said by that estimable and con-
sistent supporter of the agricultural interest, Mr.
John Bell, of Dover, at the great meeting in NN est
Kent. Mr. Bell " pointed out in a lucid and able man-
ner the injurious effects of the currency laws upon
the various industrial interests of the country: He
looked upon a sound system of currency as indispen-
sably necessary; without it the home producer would
continue to be at the mercy of the public creditor."
That is the point. Make what laws you may to pro-
tect British industry, the money-laws will " neutra-
lise" them. You may obtain protection from the
foreigner, but who is to " protect" you from the fund-
holder ? What we mean is this. An immense amount
of realised capital has been lent to Government.
The large annual interest is a fixed money pay-
ment, made to the fundholder. This the industrious
producer has to pay. The population of the country
is rapidly increasing, and as it is as natural to an
Englishman to work as to exist, the produce of the
labour of our increasing population is proportionably
increasing. Without money there would be more
barter. With money as a substitute for barter, a larger
medium of exchange, more money, is required. But
the monej of this country is fettered by a golden
chain. It is not allowed to expand in proportion to
the growing wants of the country. Because though
the existing money laws allow us to have bank-notes,
by making them payable in gold at a fixed price,
they limit the supply of notes by the supply of gold.
And, moreover, as the supply of gold depends on the
state of the foreign exchanges, we are subject to
sudden and violent contractions of the currency,
which are fraught with ruin to all the producing and
commercial classes. The effect, therefore, is that,
year by year, the fundholder, the annuitant, and
the moneyed man, are obtaining more commodities
for the same money, and the producers, the indus-
trious classes, are obtaining less money for the same
produce.
Now the agricultural body, which, observe, is part
of the producing class, has been partially screened by
protection from the ill effects of the money laws. They
are now placed on the same level as the rest of the indus-
trious and producing classes of the community. And
being suddenly exposed to the effects of unlimited
competition, they are, at this moment, feeling the
change of system most severely. But did protective
duties preserve the agriculturists from frequent and
severe distress ? The evidence laid before the Com-
mittees of both Houses of Parliament, again and
again, proves that such was not the case. In 1815,

1819, 1825, 1830, 1846, and at later periods, the agri-
turists suffered much. We will quote as a proof of
what we advance the memorial of "the Magistrates,
Clergy, Freeholders, and Farmers of the county of
Derby," to the Duke of Wellington, agreed on at a
meeting held on January 6, 1830, at the County
Hall, Derby. After deprecating any intention of
embarrassing his Majesty's Government, and affirm-
ing their loyal attachment to the constituted authori-
ties, the memorialists add :
" Sincerely impressed with these constitutional and
respectful sentiments, which we hope cannot be otherwise
than satisfactory to his Majesty's Government, we beg
to intimate to your Grace with melancholy reluctance,
our personal knowledge of rents greatly reduced and
still in arrear—of tenants ruined—of labourers un-
employed—of farms thrown out of cultivation,
and of sales forcibly effected of produce at a price
infinitely below the cost of production; and to express
our conviction, under the duration of the present severe
distress, of our inability to keep up our usual demand for
articles of manufacture, and to contribute our accus-
tomed share, which we have al*ays borne and are stilt
ready to bear willingly in proportion to our means, in
the collection of the revenue."

We respectfully submit to the landowners and
farmers of this county the above statement; and if it
can be proved, as it undoubtedly can, that distress so
extreme occurred under Protection, and that these
constantly recurring periods of distress wore aggra-
vated, if not produced, by the effects of the
contractions of the circulating medium, then
we call upon them, if they value their
broad lands and their peaceful homes, if
they wish to hand down to their children those noble
institutions which the destructive war of classes is
endangering, if they desire to see the industrious
millions of their fellow-countrymen a moral, con-
tented, and happy race—to assist in obtaining a revi
sion of that mistaken and most disastrous monetary
system which has proved itself England's worst foe.

SPORTING INTELLIGENCE.
SOU £HAM STEEPLECHASES.- TUESDAY.

The Grand Open Steeplechase Stakes of 20 sovs. eaob,
10 ft, and 5 only if declared, with 100 added. Four
miles. (17 Subs., 9of whom declared.)
Mr. Carew's British Yeoman, aged, lost ...(Mason) 1
Mr. Elmore's Mulligan, lOst
Mr. W. Beater's Versa, lOst 2lb (Holman) 3
The following also started, but were not placed :
Mr. Anson's Spring Back, lOst 71b (Oliver) 0
Mr. Stafford's St. Helier, 6 yes, lost 31b...(Bradley) 0
Mr. B. Laud's General (late Hazard) 9st 121 b (Owner) 0
Betting-6 to 4 agst British Yeoman, 4to 1 each apt
Verax and Mulligan, and 6 to 1 aget the General. Won
easy.
The Warwickshire Hunt Cup Stakes, of 10 soya. each
h fr. Three miles. (6 Subs.)
Mr. Carew's Miss Mowbray (Mr. Davenport) 1
Mr. Worthington's Lansquenet (Owner) 2
Mr. Prince's Tamworth, aged (Owner) 3
6t04 on Miss Mowbray. Won easy.
Match-50 sovs. Owners up, 12st each. Hunt Cup

Cuurie.

Mr. jenning's Pyramid
Mr. Robertson's Handsome Jack
2tol on Handsome Jack. Won cleverly.
Free Handicap of 5 goys. each, and 25 added. Three
Miles. (8 Subs.)
Captain Fraser's Kilkenny, list 21b (Holman) 1
Mr. Connor's The Oaks, list 7lb
The following also started:—Mr. Carew's Young Lot.
tery, lOst 131 b (Oliver)—Mr. Mason's Gulnare, 10st 81b
(Archer)—Mr. Gray's Outcast, lOst 81b (Planner)—Mr.
B. Laud's Passion Flower, lOst 71b (Owner)—Mr. Oli-
•er's Freemason, lOst 31b (Boyce)—Mr. Wilkins's Lady
Jane, lOstKßutler).
Betting-2 to 1 agst Gulnare, 'and 4to 1 each apt
The Oaks and Lady Jane. Won easy.
CHESTER Cup.•—We may state with confidence that
both Pasford and Clincher will be scratched for this
race, and we believe that the only acceptors in the Dane-
bury stable, will be Peep-o'-day-Boy, Cossack, and
Brother to Dough.
BETTING AT MANCHESTER.—TUESDAY.

LIVERPOOL STEEPLECHASE.-12 to 1 agst Abd-el-
Kader (t), 12 to 1 agst Vain Hope (t). 14 to 1 agst
Maria Day (t), 14 to 1 agst Sir John, 17 to 1 agst The
Young-un (t), 18 to 1 apt Peter Simple.
CHESTER Cup.-12 to 1 agst Rhesus (t), 14 to 1 agst
Cossack (t), 20 to 1 agst The Italian (t), 25 to 1 agst
Elaricot (t), 33 to 1 agst Montague (t), 35 to 1 agst
Lady Evelyn 1,000 to 15 agst The• Flying Gout (t).
Nothing done on the other events.

THE PRINCE AND THE CAT.—A comical story is
going the round of our salons, and, as it has not yet reached
the papers, may be considered as private property. It ap-
pears that a noble Russian millionnaire, celebrated for his great
generosity and admiration of the fair sex, had expressed
much devotion to a certain fair English lady, high in esteem
at the Elysee. At the approach of the new year, the old
gallant was at great pains to ascertain what would be most
acceptable as a gift to the fair lady, who, in dread of dis-
pleasing one who had a greater right to bestow presents,
world not, in spite of pressing, consent to name anything
more valuable than an Angora cat. Accordingly, the whole
city was ransacked to find a valuable animal of the right
breed to present to the fair amateur. One was discovered
at length possessed of the proper dimensions of breast,
back, and tail in the lodge of an old portiire of the Rue St.
Dominique. The old boyard, however, was resolved to do
the thing en prince, and accordingly had a necklace of
brilliants of the finest water placed round the sleek neck of
Grimalkin, well knowing that she would be none the less
welcome for the adornment. Accordingly, on New Year's
morning, Prince P— presented himself at the lady's door,
carrying the cat beneath his arm, enchanted with his
own idea, and delighted beforehand with the effect his
generosity would produce. No sooner was the cat placed
upon the floor, however, than, scared by the noise made by
a certain exalted personage fond of practical jokes, it rushed
across the room, flew out of the window, which was open,
darted like mdd down the garden, and, in spite of all re-
search, of all offers of reward, has never been seen nor
beard of since! Judge of the indignation of the lady, of
the consternation of the " exalted personage," for now that
the necklace is lost the Prince declares it to be worth four
hundred thousand frances, and the lady insists upon its being
replaced by the exalted personage who was the cause of the
disaster.—Paris correspondence of the " Atlas."
THE CENSUS.—A. few additional appointments to
clerkships on the census were lately made, under the patron-
ae of the Treasury. There were, Ms said.: upon
The larger
the occa-
siont upwards of 1,000 unsuccessful appa
number of appointments remain in reserve until
ntlheerkscenpsruns.
has been actually taken, when a staff o
ceed to work at the statistical calculations necessary to be
made.
THE EXPOSITION. ....AMERICAN CONTRIBUTIONS.—
The Secretary of the United States Navy has given notice
that the frigate St. Lawrence will be in readiness to sail for
London on the let of February with articles for the world's
fair.