The Sun.
London, England, 1856-10-08 00:00:00

ASTLEY'S ROYAL AMPHITHEATRE.

Lessee and Manager, Mr. Wm. Cooke.
THIS EVENING,
(Tenth Week !) Shakspere's Tragedy of RICHARD THE THIRD,
with Mr. W. Cooke's admired and effective Equestrian Illustrations
by his thoroughly trained stud of horses. Unprecedented Tableau
of the Battle of Bosworth Field, and Death of White Surrey by the
swords of the enemy, &c.
- - -

After which,
The EQUESTRIAN GYRSTrONS in the CIRCLE, by Artistes o
celebrity.

To conclude with many varied Entertainments.

Commence at Aeven. Box-offlee open from seven till Four. stage
Manager, Mr •W . west. Equestrian Director, Mr. W. Cooke, jun.

RIGS WATER AT LONDON BRIDGE.
THIS DAY—Morn. 23 rain. aft. 7—Evening 8 rain. aft. 8
Trl-Liognow—Morn. 1 min. aft. 9—Evening 49 rain. aft. 9

THE WEATHER—SUN OFFICE, OCTOBER S.
THERMOMETER, IN THE SHADE.
60 —highest since noon yesterday.
53 —lowest this morning and during the night.
57 —this day at noon.

RAsomITEII, 3003.
WIND, N.E.—Moderate, with dull rainy weather.

TAMPED EDITION OF " THE SUN,"
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Sun Office, 112, Strand.

A

LONDON, WEDNESDA.Y, OCTOBER 8, 1856

There is a monetary convulsion impending—
another commercial crisis " looming in the fu-
ture," that threatens to prove no less disastrous
than that of 1847.

The panic has already cyntnenced ; and the
practice of hoarding, the inevitable incident of a
metallic currency, must materially aggravate the
evil. Notwithstanding the enormous importation
of bullion, the Bank of England is unable to hold
its own, and the weekly returns afford painful but
incontrovertible evidence of the rapidity of the
drain. These returns show but a portion of the
mischief. Not only is the amount in the Bank
cellars reduced, but that circulating in the hands
of the public, which, as in 1847, is abridged
to a still greater extent. It must be borne in
mind that, under the sagacious system that
prohibits the circulation of small notes, there
are, according to the best calculations, from
forty to fifty millions of sovereigns circulating in
England. The amount may be greatly diminished
without distinct evidence thereof, although the
effect will be severely folt by the industrial classes.
Besides, it is not gold only that is now aimed at.
Silver is even more eagerly sought after ; and
there we are likewise without the means of detect-
ing the amount withdrawn. We can only guess
at it from the severe pressure occasioned to those
whose business transactions seldom extend to the
more precious metal. While the silver of France
is so eagerly sought after, it cannot be supposed
that our silver has escaped scatheless from the
acquisitiveness displayed by anxious bullionists.
It is true that English silver has one protection
to which we may ascribe a great portion of its
comparative exemption from the run on the silver
coinage of other nations. The intrinsic is consider.
ably less than the nominal value thereof. The
pound troy is coined into sixty-six shillings—
that is to say, the coined ounce of silver is worth
ss. 6d., while the uncoined ounce will fetch little
more than ss. There is thus a royalty of more
than sd. per ounce, or some 7 or 8 per cent.,
whil3 the royalty on gold is but a small fraction.
The want of full intrinsic value—the matter so
loudly insisted on by the bullionists of the MEE,.
CATOR school—is the only thing that saves the
silver currency, and prevents us from realising the
full extent of the inconvenience experienced in
France. This will show the vast importance of a
paper currency, only valuable for domestic pur.
Poses. That would not be in any way disturbed or
interfered with whatever may occur in other king-
doms. There could then be no derangement or
paralysis of the national industry from the mere
want of the measure and representative of value.
Production would not be checked at the very
moment when it was most required to maintain
the revenue, and amply provide for every demand
on the resources of the country.

Under the existing monetary code, which com-
pels us to provide
specie at a fixed price for all
corners, we are the common object for all conti-
nental powers to prey en to the utmost extent
possible. Our good friends and allies of France
make the heaviest demand. 4. T 1 .
arrival of gold or '
,IPir agents fore-
stal us on every saver bullion.
The Bank of France is actually PaYi •
ng more for
gold than it receives, but the acute mind that
directs and controls its operations is well aware
that 50,0001., or even double the amount, my
be judiciously sacrificed in averting the evils that
are pressing on its remources. The buiden, there.
fore, is coolly transferred to English shoulders ;
and the system dill be continued until we adopt
ome adequate mean.] of protection to avert the