The Sun.
London, England, 1856-04-22 00:00:00

without can no longer be le4i-ste(l7-- Elic sore- ohn
ject is to " tide over" the difficulty, without cons--j
miffing himself or the Cabinet of which he is a
member, until the operation of the monetary
cycle shall restore temporary ease to the money
market, reduce the rate of interest to reasonable
proportions, and induce the industrious classes to
remain contented, although the sword of DAarocus.
is still suspended over their heads, and until a
more fearful calamity than any which has yet
occurred has aroused the nation from its
extraordinary apathy and indifference. It is said
that " familiarity breeds contempt." Those liv-
ing in the neighbourhood of Vesuvius will dance
and carouse although unequivocal indications of
a coining eruption are manifested. Miners will
cast aside their safety lamp; notwithstanding the
undoubted presence of the terrible ohoke-clamp,
and, in like manner, our merchants and manufac-
turers are willing to enter into contracts, which, it
consequence of the state of the monetary code,
become gambling speculations, rather than legiti-
mate commercial transactions. They see persons
engaged in the same line of business as themselves
periodically involved in bankruptcy and ruin.
They behold families reduced from comfort and
happiness to all the miseries and privations,
incidental to pinching poverty. They know that
those who have been so fortunate as to
weather the storm in these frequent trials
have been compelled to submit to, the most
serious losses, and yet they are contented~
to go on, plucking the roses that grow at the side
of the crater, without thinking of the terrible
penalty that must one day be paid for the in-
dulgence.

fray vvill not be wanting if those
-who-have hitherto suffered only prove themselves
to be earnest and resolute in their determination.

Among those things which every ono interested
in the stability of our colonial dominion must
especially desire, the judicious development of the
resources of-our Indian Empire cannot but occupy
a prominent place. Though stripped of those
illusions with which stories "of princely spectacles,
dazzling in their barbaric splendour, and of re-
turned nabobs, as much oppressed with a plethora
of wealth as of . bile, had invested her—lndia is
stilt a glorious appendage to the British Empire.
To wide-spread plains of approved fertility, and
exhaustless stores of mineral treasures, she adds—
what "other colonies only give a promise of here-
after—armies of docile native labourers prepared
to work them at the cheapest rate, and through
that working presents the prospect of a field for
commercial enterprise at home, which the most
ardent longings should be satisfied with. The
countless millions of India, possessed of the means
whiCh labour, directly and indirectly, bestows, to
indulge their inclinations for the little luxuries of
life which in Europe pass for necessaries—how
itiggeStive the thought of increasing wealth and
?rosperity at, hume.
TPA consummation so devoutly to be wished for,
a grand railway system, as we have previously
showia—in addition to the canals, bridges, and
-roads-now in existence,- or to be constructed—is
essentially rieee*ry ; and it is, therefore, with
much satisfaction we learn from the best authori-
ties that-the trunk lines now in course of construc-
tion is making satisfactory progress, and that dif-
ficulties of a most formidable nature have been
surmounted by engineering skill. On the 9th
inst. it was stated by Mr. STEPHENSON, at a
sumptuous banquet given at the Albion to Mr.
JAMES BERKELY, the Chief Resident Engineer of
the Great Indian Peninsular Railway Company,
on the occasion of his return to India, that having
,brought the line to the Ghauts, in the west of
India, Mr. BERKELY had conceived a plan by
which these formidable ascents might be
scaled—a plan so feasible, as to elicit his
(the speaker's) warmest admiration. This
difficulty overcome, and the reader may form
soine • idea of its nature when he is told
that the Ghauts present greater engineering diffi-
culties than either the passage of the Semmering
to Trieste, or the Giovi Incline between Tilde
and Genoa nothing seems to stand between the
desired end in the shape of insuperable natural
obstacles. What remains is perseverance on the
part of the railway capitalists, and a fair conside-
ration of the claims of railway enterprise on the
part of the'lndian Government. That such per-
severance will be displayed is a matter of cer-
tainty ; and from the countenance already given
by the Indian Government, we have but little
apprehension that the required encouragement
will be withheld. No fewer than 1,450 miles of
main line have been laid out in India under
Government sanction, and of these 800 miles, in-
cluding the Ghaut inclines, have been conceded
to the Peninsular Railway Company for imme-
diate construction, and the company, at the pre-
sent moment, having finished 90 miles, has 220
more in a state of rapid progression. Native
labour, as we have already 'intimated, .dst forth-
coming in abundance, and, under judicioua treat-
ment, the native labourer seems likely -to emu-
late the example of his European brethren, as do
the Sepois that of: the 'lmperial troops. In
this fact thpre is cause for hearty congratulation
to all whci look forward, from whatever;'., motive,
to a prosperous future for India. Let ns hope
that the Indian Government may prove equal to
the mighty responsibilities now resting upon it
and do what lies in its power towards the full
development of, the Indian railway system. Tha

0:,

The moneyocraoy are well aware of this extrc-
ordinary weakness. They strive, when the public
mind has been unusually excited—when the trad-
ing population find that the fruits of their indo-
mitable exertions are diverted from their legiti-
mate channels, and that their profits are absorbed
in the enormous charges for the indispensable,
pecuniary accommodation, to postpone this dis-
cussion ; and this Fabian policy, having invariably
proved successful, is again resorted to. But will
those who are so deeply interested in the result
sanction this pettifogging and disreputable course
—will they admit the specious pretext that in the
middle of April, almost before Parliament has
settled down steadily to its work—it is " too late"
to do anything, or to hope to make any great
progress in an inquiry of the kind ? If they do so
they may at once relinquish the hope of ever ob-
taining relief from any grievance, however flagrant.
They will always find red-tapist Professors pre-
pared to assure them that the question is either
" unseasonable and premature," or too late for
the application of an efficient remedy.
The great question at issue between the advo-
cates of monetary restrictions, the currency " pro-
tionists" and the free-traders in money, is whether
it is capital or currency that is wanting. "Mer-
cator," himself—the " high financial authority"
of the Times--or, in other words, Lord OVER
STONE, the real author of the Bank Citarter, ,leas
put forward that plea, and his disciples cannot,
complain if issue be joined in the questiott se-
lected by their chosen leader. He has declared
that " changes in our currency laws, or flucta
tions in the amount of our paper issues, can
neither increase nor diminish the amount cf capi-
tal." We fully concur in that view of the case
—which is decisive in favour of the Currency
Reformers. It cannot for a moment' be suppOsed
that capital has • been suddenly annihilated,
that the accumulated and realised, property of the
nation—its millions and tens of millions of horses,
oxen, cows, pigs, and sheep—ita "dirty acres,"
and well-constructed- 'dwelling houses, and mag-
nificent buildings, public and private, its railways,
implements of husbandry, shipping, furniture,
ornaments of art, agricultural produce, manufac-
tures, merchandise, and all the other results of
accumulated labour, could be destroyed a mo-
ment. If such were the case we should be poor
indeed, and no issue of paper money nor, abun-
dance of bullion could produce a remedy. The
grievance would be one of substance, not of form,
and we should submit with the best possible
;race to the inevitable evil. Bat the Times itself,
while adopting the arguments of " Mercator," tells
us that we are the richest country in the world,
that Vie sums expended in the recent War are a
mere trifle compared to our extraordinary and
elastic resources.. It has been, in fact, scarcely
one per cent. on the actual wealth of the country,
to say nothing of the thews and sinews of its' in-
habitants, and the power of creating new capital
if all we possessed had really been destroyed.

accomplished, there will be little cause of appre-
hension from Russia ; and with the ability to
pour duwu the strength of the empire on tho in-
vader will
,come the reduction of much military
expenditure, and the direction of the class which

furnishes our Sepoys to a more p©a•ceful and re•
-Ittunerative employiuent.

• ,
ARRIVAL OF LORD CLARENDON IN LONDON.—Lord
Clarendon arrived at Dover in her Majesty's steamer
Vivid from Bou'ogne at 3.35 p.m. yesterday, and, after
a brief stay at the Lard Warden Hotel, proceeded to
town by a special train at 4.34 p.rn. His lordship was
warmly received by the spectators who had assembled
to witness hiaarrival.
The King of Naples is said to look with intense eus•
picion en the Aoglo-Italian Legion now at Malta.l
~..Sir,Q,ugustutt and Lady Elizabeth Clifford will enter-
tain at their house at ILyde, during the naval review,
the Eartof-Barlington and Lady Louisa Cavendish, Lord
Rayahain, Lard Althorp, the /I.m. Charles and
Lady Catherine Cavendish, the Hon. F. Levesou Gower,
Mr. Richard Oavendiali and the Duke of Leeds.
Capt. and Lady Bertha Clifton have arrived at Cla-
ridge's Hotel.
CJlonel and Mrs. Petrie Waugh and family have
arrived ill Catneden Hause, Kensington, from Branksea
Castle, Dorsetehire
The Priqce and Princess de Joinville, the Count de
Neuilly, ital,the Duke and Duchess d'Aurnale, arrived
at the MitLand, Hotel, ,herby, on Thursday night, from
London. `Oa Friday morning their royal highnesses
took their departure en route for Chat-iworth.
Ttil It (Mob expedition to Kabytia will not take place
before October, the season when forage for horses 'is
most abundant,
„ .
ROYAL NAVAL BENEVOLENT SOCIETY.—The quarterly
meeting of this'corporation was held yesterday, in the
Thatched FlOtta'e, Sr, James's-street ; Lord Radstock
,ccupying the chair. Toe other members .present were
Lord Colchester, Admiral Grace, , Captain Richardson,
Captain Jay, Lieutenant' Bedford, Lieutenant SvinoUr,
LieutenanE Uitcheson, Mr, Hardin, Mr, A. Etas, pay-
ina-ter, Mr. F Lean, paymaster, It appears from the
quarterly report read on the occasion, that the moneys
expended iii , grants to. vari .us- claimants during the
three trionthsendi ig the-30th March,ult., amounted to
3911. The particulars of income cainprehended a balance
in favour of the -a iciety 'of 371/Zss. 7d. The proportion
from annual sebsCriptions am-iin•ei to 5811, 2-. 61, and
that from life' eubscriptfons to, 301. .Donations, 'it It'p-
peared, reached the sum of 321 151. 3d., and the interest
on invested prole rty was estimated at 5451. lie.
total, 1,560/. 14-e. 6d.- The report having been adopted,
the considerat lors:of grants for the ensuing. quarter next
ocmpied the attanti in of the meeting, which, after the
despatch of sorne,routine business, broke up with a vote
of tnatiks to the 'chairman.
HARZOW §CHOOL. —A4 extra week, has been added to
the pr.-sent holid'ays in honour of the peace, so that the
school will not rekssemble until Friday, May 2. Great
changes have been recently taking place in the buildings
of the school. A. new edifice has been erected by the
liberality of the assistant maters and parents of the
boys, containing six additional school rooms, ren-
dered indispensably necessary by the largely-increased
numbers of the .school. , At the same time, the school
chapel has been—undergoiog a process of almost entire
transfermatiort. A new aisle has been added to the
original building from funds derived from the same
source as that above mentioned,, and a beautiful chancel;
erected att.klcost exceeding 2,5001., by the munificence
of the head master, Dr. Vaughan. These additions to
the chapel have been designed by Mr. Scott, who has
also furniiihia plans for the complete reconstruction of
the original portion of the building, calculated to require
4,0001. in addition to the sum already expended. Gnat;
exertions are making among old Harrovians.and other
friends of the sehool
.to effect this object,. which will
make H 4 rosy one of ths.first schools in the country in-
that architectural beauty which has :hitherto been too
much denied to it.
GLASGOW, April 19.—Cotton.—In the early part of '
the week there was considerable animation in our mar.
ket, and large dales were made at higher prioes. The.
tune of the market has become much mare quiet, and
part of the advanen has been lost. In goods and yarns,
the market coritinue4-tO exhibit a very healthy tone,
and with a- large, demand and light stocks producers,
have little ditenkty irkrealising enhanced prices. Iron.
—The past week. bas been marked by an active specula-,
tive movement it the pig-iron market, excited by the.'
very favourable export returns,. and perhaps more
immediatllYzbY the feet that iron-masters and miners
have fallen opt;; upon a question of wages. This
strike Bills been, piindinp, for some time, but has only tin,
week assunald Iterious aspect., Employers are- almost
unanimousfy determined to resist the demand of their
workmen, even to blowing out .farnaces; and- already
about 20 per mint, of the'avhole, have been damped, soon
to be followed by' others, 'An'extensive business bas been
done up to Via, cash, and 775. 6d. three months for m.n.
warrants, the highest point being reached on Thursday.
Since then t'iere has been a steady, quiet inquiry, trans-
actions taking place at 755. to 755. 6d. cash. No. 1, G.
M. 8., 765. 6d.
,;No. 3, 745, ; (+Arteherrie No. 1,80 a.

It is obvious, therefore, that it is not capital,
but its measure and representative, that is wanting ;
that we only want the requisite faeilities for carry-
tag on the necessary operations of commerce and
avoiding the fluctuations in the value of-money or
currency, and the current rate of interest, that have
proved more injurious to the best interests of the
.nation than the failure of all the banks of issue
-.hat ever stopped payment. It, is essential to
erevent these constantly-recurring plows, in=
separable from a metallic circulation, but
far more frequent under the JONES-LOYD
system, that occasion such wide-spread ruin.
As " Mercator" himself has declared " Non,
solum a calamitate, sed calamitatis metu,
,lefendend um, est." We "thank thee, Jew, for the
word." It is indeed the consummation devoutly
to be wished for, the goal to which all ourenergies
should be directed ; and when we find that these
panics have been far more frequent in occurrence,
And far more serious in their effects, since the
passing of the Act of 1844, that 'the rate of in-
terest, which seldom varied' more than from 4 to
5 percent. for more than. a _century. before, has
since that time fluctuated from 2 to 8 per cent.,
with undue abundance at-one time and scarcity
at another, it is obvious that the tinkering of. the
Currency must be the chief instrument in pro-
ducing this untoward state of affairs, the
teterrimd causa

:RAND, REVIEW BEFORE THE
SULTAN.
COATANTINOPLE APRIL 10.--The review
of the British troops at Scutari by the Sultan on
Mowlay last was very succ-ssful.
The time fixed by the &ham for the review was
5 o'elock,A'urkish time, or about half-past 10 in
the morning.'
A little before 11 everybody was on the ground.
Among the Turkish dignitaries who had arrived
was Fuad PaSlia the Minister of Foreign Affairs,
the Generalissimo Omer- Pasha, and Mehmed Ali,
the Captician Pasha. 'The coup d'ccil was striking.
At 20 minutes past. 12 the sound of the guns
placed on the cliffs behind the Barrack Hospital
announced the arrival of the Sultan, when Gene-
ral Storks with his staff, and the Ambassador with
his suite, rode down as far as the village of Scutari
to meet him.: 'Soon after, the whole cavalcade,
augmented by the cortege of the Sultan, appeared
on the summit of the plateau, where it was
received by the sound of " God Save the
Queen." His Majesty, with the Ambassador
and—Generar Storka to his left, then passed be-
fore the line of infantry. Already, at the first
stele;- his—attention was, attracted by the bear-
skins of adptachment of Guards and Highlanders,
who occupied .ithe extreme right of the line,
and he stopped to address some questions about
them. When passing the Polish Legion, which
was forming the extreme left of the line, Count
Zamoyski, who .commanded -them, was presented,
to his Majesty.' Among the cavalry the 12th
Lancers, mounted on their Indian horses, seemed.
above all to strike his eyes. •Having passed thus
both lines in review, he'placed himself in the centre,
and the order was given to the troops to wheel
round by companies and troops. It' was now that
all the advatrtages of the ground became apparent.
'As the troops wheeled round" on the summit of the
inclined plain yosa saw them coming down for some
distance, while the eye could follow those -who had
passed for a great while longer, so that the effect
was much more imposing from being concentrated,
and the troops looked double their number.
In front of all"came the detachments of Guards
and Highlandern although scarcely two companies
strong, comosed of different regiments and clad
in every kind of uniform, yet the size of the' men,
their soldier-like expression, and the steadiness of
their step, produced a good effect under circum-
stances in, which 'most ether troops would have ap-
peared ridioulOue- The'y were followed by de-

All we at present ask for is inquiry—for that
full and ample discussion of the whole subject
which, according to the bullionist organ, " cannot
be arranged too soon." Our own views are well
known. We want a really national bank-issuing ,
notes, pf convenient denominations, for 11., 21.,
and 31. each, amply secured, not merely on a
deposit of stuck, but on that which gives' stock
its value—the entire wealth and industry of the:
nation, and receivable in payment of every tax
and duty. We desire that the amount should be.
regulated, Rot by a private ansi. irresponsible
Corporation, looking mainly to its own profits,
but by a public department, answerable to Parlia-
ment and the country for the discharge of its
vita

lky important duties. We wish the nation to
obtain the benefit of the gains to be derived
therefrom, and not to be compelled to pay heavy
sums for the interest of paper, which may just as
well 'he issued on its own account, and to save the
enern tout wear and tear of bullion and the inte-
rest tl kereof, literally wasted by the absurd prohi-
bition of small notes. These are tangible and
iv telligiible points, and as such we commend them
to the people, by whom they
can be carried into
prat tical operation, if the wish be properly maul-
foste. " Where there is a will there is also a

Tll E STY t'el . ...1,0 IN-:-.:07,Q44,7 ir,-I_},..E S.--1) A li.r--, E-v-E.1,171 e*--,
.1, :A P R I-L " 22., 1 $6,

LATEST NEWS.

PARIS, TUESDAY MORNING.

The Moniteur publishes the following tele-
graphic despatch from General Pelissier :
"SEB.XSTOPOL, APRIL 18.

" I reviewed yesterday the whole army.
" General Luders, and a considerable number
of Russian officers, Generals Codrington and de

la IVlarniora, were present at this military fete.
"The epidemic has ceased in our army.

ST. PETERSBURG, MONDAY.

An Imperial decree dissolves the whole of the
militia. Count Orloff is appointed President of
the Council of Ministers, vice Tschernicheff.
Orders have baen given to rekindle the lighthouses
and replace the buoys along the whole coast.

BERLIN, APRIL 20.

It is confidently stated that the King yester

day ratified the treaty of peace concluded at
Paris.

OUR ARMY IN THE CRIMEA.
CAMP BEFORE SEBASTOPOL, APRIL 8.
The weather has at last assumed the mildness of
spring, fcir the few weeks that the army will have
to remain in the Crimea it may be expected that
picnics, shooting, fishing, racing, and drill and ball
liArceiCe, will form the principal business of our lives,
until everything
,is prepared for embarkation.
The preparations for the departure of the army
continue actively, and already several hundreds of
the Army Works Corps have been shipped at Bala-
klava, and have gone on their way homewards.
• Iri addition to the ordinary duties of the Land
Transport Corps in carrying up provisions and
stores from Balaklava to the various camps,
there will now be the trying work of convey-
ing -from' Sebastopol all the shot and shell
within the English portion of the town. As
to collecting, and removing these missiles, which
are sown broadcast in the very soil like peb-
bles on a beach for the space of seven miles in
length and two miles in breadth, the task is hope-
less of execution. Piles of shot have t)een formed
in every ravine, and stand there as monuments of
the uselessness of such efforts as have yet been
made to gather the iron shower which fell for 11
lenginonths in front of Sebastopol. Every water
course is full of iron—shell, shot, and splinters of
strange shapes abound in every ravine. The
Russians will only have to collect what the Allies
leave behind them' to form large magazines of shot,
but shell will not be so plentiful, as they ware more
sparingly used, and were generally damaged, if they
did not burst. Guns, too, are buried in the earth,
and peer out from the earthwork of overthrown
batteries., It was only yesterd ty I passed some five
or six flue English cannon, apparently 32-pounders,
which had been line down the side of the ravine
from the French battery overlooking the Dock-
yard Creek, and were lying upside down in
the., ground; Tire Artillery are daily engaged
iu slinging guns and mortars, and sending them
down, to Balaklava for shipment. It is calculated
that the Russians fired about 30,000 tons of iron at
us. It is certain that we gave them about 11,000
tons iu return, and possibly the French fired about
20,000 tons; so that between 60,000 and 70,000
tons *eight of iron must be lying about on the
plateau.
The great objects of attraction to-day were the
Russians, who crowded over the Tchernaya and
wandered into every part of our camps, where they
soon made out the canteens. By 1 o'clock there
were &good many of them " as soldiers wish to be
who love their grog." A navvy of the most stolid
kind, much bemused with beer, is a jolly, liyaly,
and intelligent - being compared to an intoxicated
" %ISO.", They are the image of the men in Noah's
ark—l mean that popular article constructed at
Nuremberg'for Young Europe—stiff and angular,
and when they fall down it is done with a jerk and
a rigidity worthy of Richardson's. Their drunken
salute to passing officers is very ludicrous, and
one could laugh only he is disgusted at the abject
cringe with which they remove their caps, and
bow, bareheaded, , with horrid gravity in their
bleary leaden' eyes and wooden faces, at the sight of
a pit•ce of gold lace. Some of them seemed very
much annoyed at the behaviour of their comrades,
and endeavoured to drag theta off from the can-
' teens, and others remained perfectly sober. Our
soldiers An after them in crowds, and fraternised
very willingly with their late enemies ; but the
Russian officers seemed to hold with the French
Prather than with citseives. Towards evening the
banks of the TelierhaYa presented a curious appear-
aneeatlike fords, Tile boon companions, French and
EngliSh; were shaking hands and bidding most
affectionate farewells to their Ruski comrades, who
had to cross'over before the rappel. In places this
was easier 'said than done, for the only mode of
crossing. was on balks of timber, which looked
double to their vision, but in reality were narrow
enough for a sober man to find 'some difficulty in
crossing;_ so ever and anon the Ruski tumbled off
amid shouts of laughter, and was pulled out half
drowned. A grim guard, with fixed bayonets, en-
vious probably of 'the happy condition of their
coniradei was waiting for them at the other side,
and the bank was patrolled by Cossacks with ropes,
all ready to tie up any "incapable" and take him
homewards. Down they came, staggering' and
roaring through the bones of their countrymen
(whiClf :corrimon decency I hope they will bury
as soon as -possibl6), and then, after elaborate
leave-talking, passed the fatal stream. General
Codrington was down at the ford, and did net
seem to know.'whether to be amused or scandalised
at scene, ;:lave no doubt he will take
steps,,te prevent any such exhibition on the part of
our mini' The navvies have found their way
across to kthe caves, and some of them have esta-
bbshed such friendly relations with the Russians
that a,hey.have been ;allowed to see the chapel cut
out of rock, which they describe in terms of
great pal. ,e-H" It's auld gould and coot glass."
As to the sunken .ships there are various opi-
nions. Some, -say they are by this time utterly
ruined, others contend that they can he weighed
and rendered fi,t for service ; but for the most part
they are only sailing, vessels of the old build, short
and tubby. I have seen a piece of teak cut out of
one of them, which was as perfectly sound and
good as it was the first day it was used. The deal
of which the submerged gun-carriages are made
has, lipwiser, suffered from- the ravages of the
worm.- 'All operations against theiships must now
be hopeless: '
The fine weather continues.