The Sun.
London, England, 1856-12-30 00:00:00

THE CURRENCY.

TO THE EDITOR OF THE BIM
SIB,—" Mercator" has laid himself open to attack.
It is too bad to ignore the peace of 1847, and the most
injurious rises in the rate of interest since, and to claim
for free trade all the good which has arisen, and which
the most ardent Free-trader, if he understood the cur-
rency questi m at all, must allow has greatly arisen from
the gold. This is not, however, Lord Overstone's opi-
nion. He said (as the gentleman who heard him say so
told me) very lately that gold had not depreciated more
than 2 per cent. since the gold discoveries of Australia
and California. Maculloch said the same. The Arne.-
ricang affirm that it has depreciated 30 per cent. Hold-
ing this opinion of the depreciation, Lord Overstone
thinks that geld has done nothing to improve the con-
dition of the people, and that, therefore, it is all free
trade.
I was a Free-trader for years', while Peel was delivering
hie
and
phoamv
e g
pomp ')us
e tirades
againstiu
afavourboefsptr oirtieecntciloeni,ni n the
supportive house'
free trade ; hut it seems to me necessary tha,-, es
could not in former years get currency reform till free
trade was granted—for the controversy between protec-
tection and free trade stopped the way—so. now, wharne
we have free trade, we should plainly and clearly decia
that it won't do
price.without
a free and unrestricted
ami its
,i.ciisati market
uunrestrictedth curre g
%
in
—by which I ineau at l
I expect that the Times is finding out thvaittheociao;
buel
reein areorepreparing
d i s,ati s fi e d
to withra
rat which
the, Bank
viC
iiii al r
bt eer very
useful,
If we had Exchequer bills of 1/. and upwards
d art-
of course no interest), issued by a Government F,
meat, receivable for taxes (no ‘' Promise to pay.
..7
them), to the amount of say 20,000,000/., it would 1..
The Bank to i-sue on the three millions above p.i.i.bblelno
(beearing
debt of 11,000,0001., which should be paid off T
4: an de-
for this three millions the Bank of England cogs" -
mans give either Government Exchequer notes, or
issue
od
or silver at the current price, and every bank of 1
should do the same.
One thing pray keep clear—that we suffetirt
to be carried out to increase the weigh,t of
If we cannot get representative paper money,
the depreciating sovereign al-, its present we
class WOULd
wise the workinz classes and ali the debtor •
suffer (as they did in 1819). en os
o attemptv
e e eki
egeop.
• lass—(e3Y
I don't wish to injure the creditor c
class
rglieltt u Otohwear-
income would be lessened were the creditorditer (the
in-
jured)—but it is evidently better that thethc
comparatively rich else-) should su
poor man should be deprived of the benefits
discoveries.—Yours, So, OBSERVER.
Icon f tt
12h se
tgtohl de

. . :
_____-----____
Mr. Caird is to receive
Rumour has it that the Rev.
1,0001. a year as minister of the new church at the west
end of Glasgow, and that he will only be expected to
preach once each Sabbath.--BCof3Man.
CLERICAL CouuTEsY.--Last Monday a number of poor
people resorted to the Town-hall, Ilkestcn, on which day
the charities of Gisborne and others have been previoh usly
distribated by the vicar, churchwardens, and paris offi-
cers. One of the guardians of the poor of
the parish, Mr.
J. Bailey, went, as his predecessors had done, to be pre-
sent, and found the vicar (the Rev. G. S. Ebswortb) and
his curate, and one churchwarden alone, doling out the
presents, and was asked by the vicar what be wanted,
the money was fairly
when Mr. Bailey answered that be was come to see that
whether church people or dissenters. The vicar, however,
distributed to all classes of the poor,
very wroth, replied that he should not see the money paid,
and insisted upon his leaving the place at once. Mr. Bai-
ley complained of the treatment, and said he thought it
was very uncourteous to treathim in such a manner, as he
was not come to complain or dictate in any way or shape,
but merely to see to whom the money was paid, and that
the poor and necessitous alone should be the recipients
thereof. The vicar said that on previous occasions tbe
guardians who had been present bad misrepresented his
acts and deeds, and that be would not endure them to
be present again, and besides, that was his room, and
if Mr. Bailey did not leave he would send for the con-
stable to take him. out. Mr. Bailey denied that the
room was the vicar's, and asserted that it was built
by public subscriptions, and belonged to the town
and if his predecessors hal (with or without reason)
mide remarks respecting the partial manner in which
he distributed the money, it was unfair to punish
him for their sins. The room was full of arrived,
and the constable having been sent for arrived,
and after ineffectually prevailing upon Mr. Bailey to go
(who warned him to be careful, as that if insulted he
should obtain redress, if possible), hesitated in acting.
The vicar, however, promising to " stand between him
and all danger," gave orders fa Mr. Bailey's instant re-
moval, and he was accordingly taken out of the room by
the collar. Their reverences, with their churchwarden,
then proceeded to dole out the gifts to whom they
though:, pr(;)2:. Th,l rn::;,,te:, la, ,- ''k 0 • .vi: ;,,,t rest
here, as proceedings will be comwenced immediately
against the parties concerned,
—DerbY Reporter.