The Sun.
London, England, 1856-11-26 00:00:00

RIGH WATER AT LONDON 8R1D(3%.

THIS DAY—Morn. 66 min. aft.l2—Evening 16 nun. Art.
T,.-Monhovv—alorn. 33 Lain. aft. I—Evening 48 min.,,ft. 1

THE WEA.THER—SUN OFFICE, NOVEMBER 26.
THERMOMETER, IN "I".E SHADE.
41—highest sines noon yesterday.
37 —lowest this morning 4•nd during Or night.
43 —this day at noon.
BAROMETER, 29.61—falling fast.
WIND, S.W. in the morning; now light and wavering
to the South and N. W. with dull, foggy and rainy weather.
e have had a heavy of snow in
• the night, with rapid
t„.__ _ fall
and rain in the morning. It was the first snow in
oei
I,don this !Anson •

L,.
IR ii.:..Z .!. ..A—.. it' ~..,
Lit ;Ll-7/ 6.
'r
______ _ 't•_,7,4-,;.7.:-,.;:t: —, ' ,ro•-"h , c...,-/, , ...., ,

L9NDON, WEDNESDAY, NOVEMBER 26, ine

,
There is a gene/0 impression abroad that the
lank of England slaould forthwith reduce the
minimum rate of discount, at all events to 6 per
cent., and be prepared ere long to make further
progress in th 6 same direction. Even
the most
orthodox worshippers of Mammon are beginning
to feel that the _Directors have hoeu Playing to,) I
fine a gceme, and that the whole sybtera id en_

dangered by their too eager pursuit of a rate of
interest, which, under the most favourable cir-
cumstances, must lead to very considerable diffi
culties amongst those engaged in industrial pur-
suits ; deprive the manufacturing and commercial
interests of their legitimate profits, and throw
thousands and tens of thousands of persons, able
and willing to work, out of employment. Even
the Times itself has confessed the fearful conse-
quences of too high a rate of interest, which it
candidly acknowledges to be a " national dis-
sster" of no ordinary magnitude. It is only the
-ninor fry who dare to assert that a " high pre-
mium for the use of honoured capital" is a
symptom that " the rate of profit is high (!), that
trading is prosperous (! 0, that the coun-
try is rapidly advancing in wealth" (! !I)
That " the capital necessary to its prospe-
rity is in great demand" is unfortunately
but too certain. But if those who force up their
money to a famine price can be justified, then are
,he 60-per-cent. gentry the greatest national
benefactors, entitled to the thanks and gratitude
•f the People.
It is, however, scarcely necessary to answer the
(lieu brations of a person who puts forward such
extraordinary opinions, manifestly viewing every-
liing through a distorted medium. It is quite
4ufficient to deal with the more rational supporters
,f a Moneyocracy—those who admit the grievance,
'ut affect to deplore its necessity (?) Now, as
ve pointed out on Monday, the resolutions
,dopted at the Bank parlour on the 13th instant
ccasioned " considerable surprise" and serious
ipprehension in the money market. It was sup-
posed that the Directors, who had later and more
authentic information than was available to the
community at large, must have had solid founda-
ion for such a change—that there must be some
generally-unforeseen danger "looming in the
'uture," and that, even under the most
:avourable circumstances, the drain of bullion
oust be continuing, and to a greater extent than
Ise public had any accurate knowledge of.
It now, however, appears, "on the infallibLl
evidence of their own accounts," that the strin-
,ent measure of restriction " was wholly uncalled
and that all the risk and inconvenience to
he commercial world might have been averted
vithout the slightest danger." The Times says
hat " the majority of prirdent persons do not
join in that opinion." The simple fact, however,
hat from returns published on the following day
't appeared that there had been within the week
tn addition to the bullion in both departments of
'lore than 150,0001., that there had, in like
nanner, been an increase to the Bank Reserve, or
Notes Unemployed," of 456,3801., while the
" Active Circulation" within a fortnight had been
.educed by more than 600,0001., proved, beyond
he possibility of doubt, that there was no palp-
able justification for the measure. And the
het that large importations of gold were daily
:xpected from Australia rendered the step the
[Lore objectionable, proving beyond the pos-
obility of doubt that those by whom it was
kdopted cannot safely be entrusted with the
ostrol and management of an instrument so
telicate, the operations whereof are of such
vital importance to the welfare and prosperity of
• fie people, as the circulating medium of the
nun try.
It is, perhaps, fortunate that the relations
I etween the nation and the quasi national Bank
•,vere not disposed of last session. The full extent
if the grievance was not then thoroughly under-
stood. The screw had not been applied with all
is stringency, and legislation might have taken
place on insuffi.cient data. The Bauk Charter has
virtually terminated. It only requires the requi-
•ite notice and payment of the Government debt
to the Bank to get rid of the incubus, to remove the
"Old Lady of Threadneedle-street," worse than
" the Old Man of the Sea," celebrated in the
narrative of the' veracious SINBAD, from our
shoulders. We want a really national lank and
really national 1/. notes. As a private trading
corporation the Bank will realise large profits for
the proprietors of stock, and have no cause to
regret the cessation of a connection by no
means profitable, as will appear from a
comparison of its gains with those of other bank-
ing establishments unconnected with Govern.
ment. They could not complain, and the people
would have ample cause to rejoice at the issue of
notes of small denominations, which, being gua-
rantee-;) by and secured not only by all the pro-
perty of the nation, but also by its industry, and
bfAng receivable in payment of every public bur-
, den, could never be depreciated, and would
answer all domestic purposes. With an adequate
'upply of such a measure and representative of
value the fluctuations in the price of money, or
rate of interest, for they are synonymous, would
be avoided, and men might engage in manufac-
turing or commercial pursuits without encounter-
ing gambling risks, whioh, while they may bring
gigantic fortunes to a few, must eventuate in em•
barrassment, if not ruin, to the majority of
well-meaning speculators.

The excellent "CracouoT" is making his ap-
pearance in a new character. " The Angel of
Peace" is likely to disturb the tranquillity of
Europe ! He is putting forward untenable claims
against the independence of Neuchatel, and, of
course, the integrity of the Swiss Confederation.
That such a demand can be pressed without pro.,
clueing a general convulsion is utteriy e;
but what signifies it to FREDERICK if
he can derive any profit from the transaction, or
)btain a makeweight to restore tbe prestige
forfeited by his conduct during the late
war, and the influence that also de-
parted freem his House. Thee° are clearly
not the times to put forward obsolete claims, or
to stand upon " the Divine right," now so gene.
rally ignored by all the Peoples of the world, and
only recognised by a few despots, engaged, like
Mrs. PARTINGTON, in the vain attempt of sweep-
ing back the sea of democracy with useless brooms.
But yet Prussia, for her own private purpose;
or what she is pleased to represent as " the
interests of Germany" and of legitimacy, strives
to agitate the question, and to cast a fire-
brand into European society. The Swiss
will
not nay, more, they cannot—yield ;
and their forefathers have already taught
salutary lessons to crowned despots as to the
danger of tampering with, or striving to under-
mine, the rights of a really free people.
The real question lies in a nut-shell. During
the last century the then King of Prussia con-
trived to establish a Very doubtfuleueh a
tcella. i mutow the
allegiance of the people of Neuchatel
however, " an outlying estate,"
on which no great
store was set, and during the •
time when the atm.
of the Great NAPOLEON was in the ascendant WiiS
rea4l.ily surrendered by the ostensible owner, and
bestowed as a reward on a French General. It
did not, however, long remain under the BEE-
THUM" dynasty. In 1814 it was restored to
Prussia, and in 1815 became a canton of the SR is,
Confederation, certain purely nominal rights being
reserved to Prussia. These rights, although
utterly valueless, were got rid of eight years ago,
and the Government of Berlin ever since ao.
quiesced in the altered state of affairs. The Neu

chatalese were Republicans. That was the esta-
blished state of affairs, and any attempt to
disturb it was neither more nor less than an
attempt at insurrection. The title of the de facto
Government was at least as good as that by which
Louis NArorxoN founds his claim to the imperial
diadem ; and he, at least, cannot permit any im-
peachment of their authority.

We have already explained the futile attempt
at revolution by a few reckless royalists who set
up the Prussian standard, without the slightest
chance of obtaining popular support. The ring-
leaders were made prisoners, and although we
should regret to see the infliction of severe
punishment for merely political offences, it cannot
be asserted that, according to the code of any
nation, they have not become amenable to the
extreme penalty of the law, whatever it may be.
But Prussia has attempted to demand their
liberation as a matter of right, and to found
on these abortive attempts the restoration of
claims, either obsolete or long since abandoned :
and this untoward demand was, as we
have shown, put forward at the most in-
opportune time. No alternative remained.
The Swiss authorities could not yield I Although
hey would probably have let off the offenders
'with comparative impunity, they could not recog-
nise the grounds on which it was insisted. The
doing so would compromise their own rights. and
lot in the sharp end of a wedge which would
speedily be driven much further.
We trust, then, that this purely gratuitous and
unwarrantable attempt to disturb the tranquillity
of Europe may be treated as it deserves, and that
the attitude assumed by the Western Powers may
teach Prussia the magnitude of the danger she is
provoking, and the risk of recklessly putting for-
ward such frivolous aid untenable claims.

Once more we would draw attention to the
Drainage of the Metropolis. Now is the time
for insuring the adoption of a comprehensive
and thoroughly satisfactory plan ; and if it is
allowed to pass unimproved the population of and
below Woolwich will have themselves mainly to
thank for the consequences. That these will
be prejudicial to health we have no manner of
doubt, any more than we have as to the injustice
of emptying, in effect, the filth of London before
their homesteads. The sewage certainly ought,
in reason and justice, to be carried to Sea Reach;
and all parties likely to be benefited thereby
should hold themselves prepared to pay a fair
quota of the expense. The Drainage Question
may now be considered as limited to a mere money
question. The Metropolitan Board are prepared
to carry out the sewage to Sea Reach if the money
over and above what is necessary to carry it to
Erith is forthcoming, and apparently on no other
terms. We won't now insist on the viciousness of
an argument, which has no sanction in mo-
rality, and is professedly based on an Act of Par-
liament. Right or wrong, the Metropolitan Board
seem prepared, should the additional outlay not
be forthcoming, " to pitch their slugs into their
neighbours' garden." The duty of the population
who stand in this relation to the Board obviously,
therefore, is to " move heaven and earth" until
the money be forthcoming. It is a serious matter
for them, and they had better look to it, to the
exclusion even of more palatable business. Go-
vernment, under all the circumstances, is morally
bound to " come out handsome" towards the
accomplishment of an object in which they have,
in addition, a personal and an official interest.
Every effort should be made by the friends of
sanitary reform, and others interested in the wel-
fare of the leas informed portion of the popula-
tion, to enlighten them as to the impending dan-
ger, and arouse them to decided action in, order
to its prevention. We say this in the interests
of the Londoner as well as of the population to
which it is addressed ; for we are by no means
prepared to say the discharge of the sewage at
Erith will rid the metropolis entirely of the giant
evil under which it now groans. Cold-blooded
seliishness may pass fra wisdom ; but in its issue,
its in its essence, it in most cases turns out sheer
folly.

In another part of our present impression will
be found a pleasing Report of the Annual Meet-
ing of the Birmingham Institution for the Relief
of Deafness. The Institution, it will be seen, is
in a prosperous condition financially, and in the
amount of good it is doing to the patients under
its care. Of the latter fact, the former may be
regarded as the legitimate corollary—for unless
relief were actually afforded the Institution would
not, as we may fairly presume, meet with the sup.
port it does. The fact is the Institution is fortunate
in having for its surgeon an accomplished aurist,
who, to the palm of unsurpassed skill, adds the
merit of being an unpaid and most indefatigable
and devoted philanthropist, never weary in '6.110
discharge of the duties of his responsole posi
Lion ; and managers who, like NUL-. MASON, do
their utmost to extend its be refits as far as the
means at t heir disposal will admit. Philanthropic
efforts like these are 0, -,serving of the utmost con
sideration, and we Trust the Institution, successful
supported by the public henceforth
amsoirteisgewn:idli h'roue
generously—in other words, in a manner
more proportionate to its deserts and the
number of those who need its aid, which are
F:,ceat. Other large towns would do well by fol-
lowing so praiseworthy an example.