The Sun.
London, England, 1856-02-29 00:00:00

V/.-4_--/d
A r
7
7,7 NE N% SPAPER
(01040 _
, .
ft- , • . kr
1 'M; c c: / 6'l .
// •
' / Bury what would be the most Co. - -4 ..
'" • ,
V, 410
`cSS.C.
• lt 11,
, -i
I 4 • to bring forward his motion; wh Pt t,)i 11; Ai
- -
it when the Speaker left the elair, . . • .*`.l4l°V,t, ,
19„ A;14., 414. Arc' • • I • 11—•41 .• k•
%, 1 ,
, • .
bring it ferwar.l av ,uh,tlntiv,et:
mat. .
4:7 vq
"
' ty LA, 4VC,,
^
Ip•rd PALMERSTON 'wit it s .
la I V ./ o
k;.; - . - •
T
••• I • 1•••, ~t,i-•••••••7 • 11t••,,e. 7s,
,4
the bon. member himself. The GOYS kep t
T 4 • / . !, • ft:, •
Ft ) OLT. s')V

prepared with an amendment to ,
THE M‘NEIL-TULIAOCH REPORT.
In answer to a gnestion from an-HoNr. MEMBER,
Lord PALMERSTON said that 'ibis inquiry Would
be public, reserving a discretionary power `to the' court
to conduct any print with closed cl•ors.. The Coininission
would have no power to take evidence on oath.: To
give that power a special act must be pa;ssed.,

LONDON. FRIDAY _EVENING, FEBRUARY 29, 1856.

[ PRIOR 4D. STAMPED SD•

•

Qußrt EY.—ELIGIBLE INVESTMENT.—To
bo 5.4 HA), the LELSE of an El,Thi-roomed 110U.4E, with
,aelt and in Ott Gardints, situated about a mile from the bridges, held
4t a low I,:rc and rent, and let to a highly-ruspeetaive tenant. Will
e sold a I>at the money being retrtired in business.—Apply- to
•Er. John nozer, auctioneer, 16, Walbrook.

THE MONETARY SYSTEM. .
Mr. 11IT.TNTZ moved fin- a select committee to inquire
how far the present monetary system was in accordance
with the requirements of the country, and.to censlder i
it could not be improved and amended,,, He (gr. launtz
had abstained for six yeord from mentioning . thi4 sub.
j-ct to see the effect the sold diecoveries ;would
have on this question. That had not -gained
the alteration be contemplated. (Hear.) Hs hnd
considered this question now for forty years, and be
thought the only way to understand the npbjeot was
by taking, a retrospective view of . the question,
and to do that it was necessary to g 3 'hick t,
the reign of William. the Conqueror. (Lsughter.) HOti.
gentlemen might laugh, but it wasi necessary
to do that, because that period was" the' only
Nonni period connected with the quiption
when the 11 sterling was a pound weight
of silver. Alteratinrs took place ,in the - currency
in .the reign of Edward the Third, Fleury
the E;ghth, Quen Elizvbeth, and William the Third.
In 1760 the paper money in circulation amounted to
four millions, in 1785 to seven millions, in 1790 to
eleven . millions, and in 1797 to sixteen millions.
This went on increasing, and dent-relating the Me-
tallic currency, until 1810, 'when a committee
of this honse recommended the Bank of England
resorting to cash payments at the end of two .yeare, but
which fortunately was not carried out. The hon, gen-
tleman then traced the changed that had taken, place
since that period, and alluded to the various panics that
had occurred, and to the passing of the Ref ;rnt Bill,
whilh he hoped would .have been the means of 'intro-
''acing sensible business-like men into the bowie,
but in which he hail been disappliated.- (Laush•
ter.) ' After the defeat of the Whigs In .1849,
they had the late Peel in -*Mot, • aritti onto.
ported in a most extraordinary manner two kwo--- Obe
the Cornlaws, which were to keep corn at Bs. perbmthel,
and the other the money laws, which were to bring,it to
ss. per bushel. It became necessary for that statesman
to abandon one or other of these ineauree, and, being
pledged more to the money laws than -he was to the
Corn-laws, he gave up the latter. The Banlcot England
in 1847 as nearly stopped payment as at any
period of its existence, and had it -not been
fu V at celebrated letter, which was to do everything,
but did nothing, the Balk would never have been
able to right itself ; and in 1844, the act that was
then passed was found necessary to support the act of
1819. After that came the railway speculations, 'which
the late Sir R. Peel encouraged ; and, lastly, the gold
discoveries at a time when the whole munetary.system was
about t's exolotie. Aa he wished for was a fairly con-
stituted committee to examine into the question,"se as
to give eetisfaetioe to all classes.

Mr. PEACOCKE supported the appointment of the
committee, but on different grounds 'from that of the
hon. member for Birmingham. He denied that the price
of cold waa fixed. and said he should rather the ounce of
cold was coined into four ,over,igus inetead of five.' The
hoe. member proceeded to follow the hon. gentleman (Mr.
Muntz) through what he called his_ fallacies. Be
ported the appointment of • the comrpittee, mainly be-
cause the principle of fluctuation in the Bank Act of
1844 had been a failure.