The Sun.
London, England, 1856-04-03 00:00:00

forwarded to Paris to hurry on the _conclusion,
even at the cost of leaving many paints standing
emit. for future consideration. We trust, how-
ever, that. full explanations will be demanded,
aye; and firmly enforced, that neither House, of
Parliament will submit patiently
,to the contu-
melious treatment to which it has iseen subjected.
The magnificent Fleet now assembled at Spit-
head, complete in every respect, would have acted
as A perpetual memento to the People, and have
kept the irritating sore open. There are now no
less than sixteen sail of, the line, seven steam-,
frigates,' eight steam-sloops, eight. steam -gun-,
vessels, 'And. seventy steam gun-boatr, lyingin the
Vicinity Of Portsmouth, all ready ler immediate'
action, exclusive of the formidable squadron at
Plymouth. .Had these gun-boats been available in
1864, ",or even in .1855, what might not have
:been effected! , CHARLIE POT would then have
have had no excluie for his inaction. A. good ac-
count should have, been rendered not merely of
Bemarsund, but also of Sweaborg, and He/sing
fors,' of Revel, and Hango. Even the quasi
iMpregriable Cronstadt might not have afforded
adequate protection to the skulking cowards who
had their blood-stained buntings under its bat:
'toles. But so long as JAMIE Krirriin presided
over the Admiralty, and the Philo-Muscovite
GLAD§TOHE held the seals of the ExChequer,
there was but little chance of- obtaining what • was
essential for-the viiorous and energetic conduct of
the *Tar.. But now that they have been obtained,
cui bone ? The expense has been^ incurred
properly, and wisely incurred, but for whOse
advantage ? Not that of the British People ?
They see with regret and indignation the
terms which they were in a condition to
enforce frittered away until they have no-.
thing but their victories and undiminished 're-
sources as their own , reward—while they have
the satisfaction (?) of knowing that Russia has
suffered neither loss nor humilation beyond the
severe and decisfve defeats which, her troops have
sustained on every occasion when they were op-
posed to the gallant soldiers of France or England.
This was ,not what the British People bargained
for. It is not a fair equivalent fOr the liv es of
their brethren so uselessly. sacrificed or for the
tens of millions lavishly squandered in obtaining
a- result in.every respect so paltry aud so con-
temptible.

On Thesday-night the Chancellor of the Exche-
quer obtained leave to bring in a bill to continue
'certain corerositions payable to bankers, who had
ceased to issue bank notes. This power would
cease and determine on the Ist of August next,
thus clearly indicating the intention of Parlia-
ment than the Bank Charter Act of 1844 should
not continue in -operation beyond the time therein
fixed, 'Viz., 12 Mont from the Ist of Angust,
1855. Sir G. C. LEWIS has asked for an exten-
sion of time, until the Ist of August, 1857. rre
has thus virtually bound himself
.to legislate
within the present session, so as to be prepared to
give the' necessary notice of that to the Bank of
England before the Ist ,of August next And,
indeed., as we last.week' pointed out, he has no
possible excuse, now' that the treaty of Peace (!)
has been "_signed, for delaying
.that full and
complete discussion which, according' even to
the bullionist organ; "cannot be arranged too
soon.', It is, therefore, high time for the Jgone
tary Reformers to bestir themselves zealously and
efficiently. , They have energetic and wily Oppo-
nents to encounter, men who have realised im-
mense profits from the existing state of- afnirs,
and who' will not, withent a determined contest,
relinquish the hold which they have, and the
control which they exercise over the trade, com-
merce, and manufacture of the country. A con
fliet is inevitable, and if , they let slip the golden
opportunity,' many years must elapse' before such
another can possibly arise.
It is by no means improbable that. Sir G. C.
LEWIS may introduce a distinct measure; without'`
any preliminary inquiry. 'lle 'has, in, faCt, all
the materials for legislation, and, with the assist-'
ance of Mr. JAMES WILsoN, may be enabled to
deal with the all-important question in a liberal
and comprehensive spirit. But the latter Gentle-
man has, since. his accession to the Treasury
Benches, maintained an ominous silence on this
interesting question, and even the Economist has
cautiously. avoided alhision to what was once, par
excellence, its favourite tOpid. We cannot there-
fore judge to what extent the views of <the Hon.
Gentleman may have been modified by the as-.
sumption of Ministerial glasses--; and even if
rightly.disposed, as--,we hope and believe may be
she case, it is of paramount importance that his
hands :Should be strengthened by a distinct ;ld
-unequivocal expression of public opinion.

The great points to be enforced are, the
establishment of a really National Bank of Issue,
d.nd eoneurrentlytherewitb, so far as practicable,
" free trade in money." 'There is no possible
prerogatives 'of the
reason why one of _the chief
Crown should be delegated to a trading and irre-
sponsible corporation, however wealthy or re•
spectahle. Experience has proved beyond the
possibility of doubt that its interests are frequently
Conflicting with those of the working opulation
or the eauntry;.and it follows, that the directors
will look rather to the benefit of their immediate
constifuents_ than of the community at, large.
Such extraordinary power with respeeL,to the re-
gulation of the currency, " the life-blood of na-
tional industry,"' should only be entrusted to
parties appointed by or responsible to the Govern-
ment or the Parliament, and the issues of notes
should—he regularly deeided in. the Q 1.1.39 of._Com-
mons as that of Exchequer Bills is under the
existing system.

There could be no possible question as to the
security and efficiency of a Government note for
all domestic purposes. They would p9ssess the same
guarantee for their redemption that Consols now
have, with the additional point in their favour
that they would be receivable in payment of all
thities and taxes, and every claim that could be
Put forward on behalf of the Governinent. It
vr6llld. learcoly be necessary to exact that
'
they abi:;oid qinstittite a legal tender, for
none vronld dram of
, would carry with refusing that which
receive in exchange for' any
which, any merchant,
it ".a purchasing power,"' and
. , or tradesman would gladly
he dealt, simply .because; he
the eb
lre • a
commodity in which
would feel "a perfect
assurance that he .could at a3ay moment. it •
away at the_verY rate Or price' at Which hpayh had
received it. Indeed the organ of
.Theu i.onist,s
has cotteeded this undoubted.fact. Tunes of
the 26th October last contains this remarkable
passage : "Supposing this," (i.e., the Paper 6, .
citlation of the country), to be required solely
for internal commerce, no necessity could exist for
gold beinyheld against any portion of it. A d,_
posit of Government-Stock, or the fact of its being
receivable for duties, Would at eel times keep it
tfrom -fluctuations‘ in value." After this unequi-
vocal admission cadit qnestio. There can be no..
necessity for, arguing a point that has been dis-
tinctly conceded. 'by the adversary. For all
domestic, purposes, then, the national notes of •
convenient . denominations from IL upwards,.
• iould_ -ibe _ all , that.: could .be required, and
'.aal tlifilalareist 'and low, and auffoript.ocoaßioned-

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