The Sun.
London, England, 1856-11-12 00:00:00

rate, whatever else may be said el 7oy the more
captious, the one undeniable, and:. conspicuous,
and most attractive charm of vat ie z.ya A little
later on, and the good citizens of A is ,naester will
be afforded the rather subdued and " tonec%
down " pleasure of an address upon., the subject of
National Education, from that v ery respectable
minor star of Quarter Sessions, of Agricultural
gatherings in the provinces, and of the serious
and sorrowful front bench. of her MAJESTY'S
Opposition—Sir JouN P-S XINGTON. Mean-
while they have been rat;b er oddly preparing
their appetites for this porringer-full of
water-gruel, by devouring, first of all, the whipped
syllabubs of Lord PALAIERSTON , and afterwards the
highly-spiced meats of M. KOOST7TH. The flavour
of these latter condiments still tingle hotly on the
palate. Insomuch that, as a gourmand might
say after a repast on devilled 'bones and curry, we
have still la bouch,e in feu ! tO, those " spiced"
sentences of the great Hungr ian Exile ! 0 for
one momentary taste of their caloric upon the
frozen lips of our grand, obsequious, laissez-faire,
do-nothing, detestable diplomsicy ! Lips between
which, as the homely saying liens, even butter
would not melt ! 0 for one dash of that fiery
ingredient into the vapid mess concocted at the
Paris Conferences ! Alas ! M. KOSSUTH still
speaks merely as an Exile—nest, as in 1849, as
one of the Earth's Great Rulf;rs—as he yet may
speak again authoritatively (Gon willing) in the
glorious days still, lot us belienve, reserved for the
Hungarians !
Nevertheless even now in 1856, after five
long years of bitter and heart-wearying
expatriation, M. KOSSUTH even now, we say,
speaks through Manchester to England, through
England to Europe, in some sort authoritatively.
He is a man of mark so undeniable in his fallen
greatness, that what he utters cannot be passed by
at any time with idle or phlegmatic indifference.
He must be listened to, he will be heard, though
his home be a quiet, out-of-the-way house near
the Regent's-park, though he vegetates obscurely
for the time being as a private gentleman, though
he has no longer (as he had in '49) an army, and
a senate, and a people, and an administration.
He may be under the " taboo" of Austria, but he
is "at large" in England. He has an audience—
whenever and wherever he pleases—in England.
He has admirers and appreciators still in England.
And so—his speeches are listened to, are printed,
are read, are pondered over. And so—the Exile
retains still in some sort the grandeur and impor-
tance of an Institution. Heartily do we coincide
in the opinion expressed as recently as yesterday
in Manchester by M. KOSSUTH during the course
of the remarkable oration, the substance of which
will be found given in another part of our impres-
sion of this evening—an opinion enunciated in
the form of a strong and solid belief that Italy,
Poland, and Hungary will yet be the
watchwords of freedom to Europe and the
forerunners of good government in Christendom.
At the same time we don't by any means pin
our faith to M. KossuTu's views upon all things
generally. We cannot, for example, recognise
either the grace or the reason of his sneers at
what he calls " the absurd theories" of M. DE
LAMARTINE. Neither can we participate in the
smallest degree in his taunts, pronounced as it
were over the grave of King CHARLES ALBERT of
Sardinia. Perfection is, of course, neither discern-
able in the Poet-Statesman of France, nor yet
again in the Soldier-Sovereign of the Piedmontese.
But respect is so far due to both one and the
other : for inasmuch as the latter died in the cause
of Italian Independence, while the former im-
perilled everything—his Fame, his Life, his For-
tunes—when, with a matchless heroism, he grasped
the holm of the state-vessel of his country, when
it was drifting all at random amcngst materials
" ready for the burning," materials prepared to
break at a single touch into one universal confla-
gration. M. KOSSUTH is not deaf always to the
dictates of magnanimity. Let him listen to their
secret voice within the recesses of his conscience
when next he treats of Italy in relation to King
CHARLES ALBERT, or of France in reference to M.
DE LAMARTINE. Italy, it is true, has yet to
discover her veritable Patriot-Representative. As
Poland has yet to reveal herself incarnate in the
person of a great Tribune, prepared to be GOD'S
instrument for her Emancipation. But Hungary
has at least her incentive in KOSSUTH, and France
her day-dream of democratic glory in LAMARTINE.

Ministers are again actively, engaged in making
preparations for the forthcoming session of Par-
liament. The first Cabinet Council was held yes
terday at the official residence of the Premier, and
we may, without pretending to any extraordinary
degree of prescience, anticipate that similar meet-
ings will be of frequent occurrence. The Pre-
mier has already, by his speeches at Manchester,
Liverpool, and in the City of London, thrown
considerable light upon the foreign policy of the
Government, and has received the unqualified
approbation of the community at large. But
there are various questions of domestic interest
in which we are still completely in the dark, not
the slightest indication having been afforded of
the Ministerial intentions. There are matters in
which an immediate " pressure from without" is
of paramount importance, inasmuch as the deli-
berations of the Cabinet may thereby be directed
with proper directions, and points, that might
otherwise be overlooked, treated in the manner
which the interests of the nation imperatively
demand.

First amongst these is the consideration of the
Bank Charter Act and the future monetary policy
of Great Britain. We have repeatedly explained
the present position of this great question. The
Act of 1844 has virtually expired. Notice may
at any time be given for the termination of the
existing law, after an interval of twelve months,
and no time should be lost in adopting the
necessary course to obtain " free trade in money,"
or, what is perhaps the more correct expression,
"free trade in currency." The present monetary
code has been " weighed in the balance and found
Wanting." It has signally failed in realising the
anticipations on which it was founded. In place
of maintaining an equable value of money, it has
produced fluctuations more extensive and more
disastrous than had occurred at any former period
since the first charter of the " Old Lady." At
one time there was a plethora of cash ; the wildest
speculations were stimulated. Money was lite-
rally a "drop •
procured oa the
la the market," which could be
easiest terms, for almost any con-
ceivable. purpose. Shortly afterwards it could
scarcely be obtained for the
most legitimate trans-
was shaken. trans-
actions. Industry was paralysed, The credit of
i
houses of unquestionable solvency
The requisite facilities could not be obtained, not
from any doubts as to the stability of the borrow-
ers, or the due liquidation of the debt, but because
there was a scarcity of the circulating medium,
and the nation was placed in the position of the
family described by LOCKE, each member
whereof was pulling at the "scanty ceverlid "
which was inadequate to supply warmth to the
entire party. The most bitter privations Were
thus enforced on the creators and producers of
wealth, and the public revenue suffered in conse-
quence, from their inability to consume exciseable

articles, which would have added to the receipts

of the Treasury.

It is sufficient to direct attention to
the proceedings of the early part of 1845,
and the latter portion of 1847. At one
period there was a mania—at the other
a panic. The wildest speculations were supported
during the former ; the most legitimate projects
could not be carried on during the latter. There
was a great expansion of the currency, when a
judicious financier would have discovered the
necessity of a considerable contraction, and when
judicious aid was required for trade and manufac-
ture it could not be afforded, because the position
of the quasi National Bank incapacitated it from
providing adequate means. The experience of a
dozen years proved that the operation of the so-
called " self-acting regulator" of the currency
was exactly what it ought not to have been ; that
it invariably moved in the wrong direction, occa-
sioning grievous mischief, whether in its direct or
retrograde progress.

Seldom, if ever, have the signs displayed by
the monetary barometer been of a more inauspi-
cious character, and there are no extrinsic
tokens to induce any well-founded anti-
cipations of improvement. The bullion in
both departments is little more than nine
millions and a half-9,596,327/.—but little
more than was available in October, 1847 ; while
the reserve of notes is less than three millions-
-2,948,6651.-nor more than a million short of the
amount which is deemed requisite for the efficient
working of the banking department. The mini-
mum rate of discount is fixed at a rate as exorbi- '
taut as was ever known, save while the act was
suspended ; and there are significant symptoms of
other restrictions being speedily added, or, in
Threadneedle-street parlance, a further turn of the
monetary screw being applied in tke Bank Parlour.
Tarious measures have been suggested, but all
are milkier calculated to enhance than to alleviate
the pressure. In fact, the time has arrived when
the directors must look to the interests of the
proprietors of Bank stock rather than of the
general public. The drain of bullion still
continues, and the exchanges are by no means
in a condition to warrant the expectation
that the tide will speedily turn. The time has
therefore (game when the Government must declare
its intentions, that the people may know what
they have to look forward, and not be led blind-
fold into the snares spread for their reception.
It is the duty of the Government to exhibit a
warning light, and Lord PALMERSTON would find
that another appearance either in London or the
provinces would materially add to his popularity
and strengthen his Government. The sooner the
course is decided and announced the better for all
parties. We trust that the hint may not be disre-
garded, but that the Palmerston Administration
may put forward a new claim to public support
by its polioy on this all-important question.

Mr. EDWIN JAMES, Q.C., has offered a hand-
some bidding for the support of the electors of
Kingston-upon-Hull. The Honourable and
Learned Gentleman has explained his views
on some of the most important and
leading questions of the dty, and we are
bound to say that they are such as to satisfy the
just expectations of the most zealous and ener-
getic reformers.
We need not say that the vacancy which Mr.
JAMES aspires to fill has been created by the well-
merited promotion of Mr. Baron WATSON to the
judicial bench ; and Mr. JAMES, by his programme,
proves that he is prepared to follow, on all political
questions, in the footsteps of the late member.
The Learned Gentleman explains that he has not
come forward to divide the Liberal interest. On
the contrary, it is to prevent that interest from
being misrepresented, in consequence of the in-
competency of Mr. CLAY to take his seat, that he
solicits the suffrages of the constituency.

If Mr. CLAY could take his seat Mr. JAMES
would do nothing to jeopardise his interests ; but
as there is too much reason to fear, that is im-
possible, the L2arnod Gentleman comes forward
to oppose the common enemy—to prevent the
triumph of a Tory for a Liberal borough.
The views which he has enunciated respecting
the extension of the franchise, Church-rates, and
beyond all " the ballot," are such as to entitle
him to the support of every true-hearted
Liberal. His great and varied experience renders
his testimony in favour of the only adequate pro-
tection to the voter of immense value, and we
earnestly hope that the Liberals of Hull may not
lose the opportunity of sending to Parliament an
advocate so well qualified to support the views of
Mr. H. BERKELEY, by removing one of the most
serious blots on the national escutcheon.

His views on foreign policy are equally unex-
ceptionable. And we sincerely trust that
we shall be enabled to congratulate the
electors of Kingston-upon-Hull on having
obtained so efficient a representative of
their wants and wishes, and the community at
large on so useful an addition to the popular
branch of the Legislature. EDWIN JAMES is the
strenuous and unflinching advocate for the
extension of civil and religious liberty, the
security of the voter, and the maintenance of
the dignity and honour of Great Britain in
all parts of the world.

In considering the plan for the Southwark Im-
provements, now engaging the attention of the Chief
Commission er of Works, two guiding principles must
be held constantly in view. These are to consult
public convenience, and to promote sanitary im-
provement as much as possible, consistently with
the nature of the undertaking. To these two
principles every other can be but secondary in
the estimation of a civilised community. Under
this conviction, we yesterday pointed out a mode
whereby the Chief Commissioner might be afforded
two additional days for the examination of the
plan, so that the decision he is pledged to come
to might be arrived at under circumstances more
favourable to correctness than so extremely brief
a period as throe days could afford. This we may
as well repeat. It was to have the re-
quired Parliamentary notices inserted in a Satur-
day's edition of the Surrey papers, which we
showed was alike practicable and desirable. We
also took occasion to point out the propriety of
passing through, instead of avoiding, the Borough
Market, in order to insure a nearer approach to
the London Bridge stations, and a wider entrance
to the new street. A more central and far more
commodious site may easily, and even cheaply,
be found for the Borough Market further inland,
in the vicinity of Great Dover-street, and thus
confer a double benefit on the public without any
special detriment to individual or corporate in-
terest. No one will begrudge fair compensation.
Following up our remarks of yesterday, we
would now draw attention to the propriety of
adopting such an arrangement as, without sacri-
ficing directness of route, will enable us to get
rid of as many low and unhealthy blocks of houses
as may be necessary to make up the space re-
quired for the new street. As we then remarked
the improvements to be effected would not be of
a tem
parary but of a permanent nature, little or no
prospect existing of any improvement on them,