The Sun.
London, England, 1869-12-11 00:00:00

DE. TEMPLE.

The Bishop Elect of Exeter, though confirmed and
wanting nothing to make him a full chief pastor
except consecration, is still the subject of contro-
versy—of eulogy and condemnation. Dean Goulburn,
of Norwich, who preceded Dr. Temple at Rugby, in
a letter to Big hop Trtr.ver, expresses his sympathy with
the protest made et Bow Church on -Wednesday
the appointment. The Dean does so as a duty
to his former pupils at Rugby, " who may fairly look
up to me for some guidance." The very rev. gentle-
man has no doubt that the Bishop-elect would repu-
diate the more objectionable doctrines set forth in
"Essays and Reviews ; " yet he thinks him in
some respects responsible for the mischief the
" unhappy " volume has done or is doing. The
Dean is evidently puzzled as to what good the Dow
Church proceedings would do ; and he is obliged to
confess that there would be no other result than a
security (and how very slight ?) against similar future
appointments. •
A very different letter appears from "A Lanca-
shire Vicar" to Mr. Gladstone. The rev. gentleman
thanks the Premier most cordially for the appoint-
ment. Ho opposed Mr. Gladstone in the late election,
having arrived. "with sorrow of heart" at the conclusion
that the Irish Church Bill was a mistake. But he is
now glad that the Prime Minister has prolonged the
existence of the Church of England by the appoint-
ment of a man of the same stamp as Jeremy Taylor,
Stillingileet, Chillingworth, Cudworth, Tillotson,
Paley, Arnold, Hampden, and Whately—men who
were denounced as Atheists, Deists, and Socinians
in their life, but are now the glory of the Church.
The old ugbeians' meetinc, took place on Thurabq
afternoon. They determined to open a subscription
list for a testimonial, and to leave the choice of tl-0
form it should take to the Bishop himself.

AMERICAN AFFAIRS.

(From the Anglo American Times.)

It is evident from the summary of Secretary
Boutwell's Report to Congress that he and the Pre-
sident are in accord on the financial policy. The
Secretary goes more into detail as regards the pro-
posal for replacing at a lower interest the Five-
Twenty Bonds. The aggregate of the bonds pur-
chased by Government to the 30th of Nov. last
amounted to $75,500,000, of which $20,000,000
have been bought under the provisions of the
Sinking Fund Act. He recommends that the en-
tire amount purchased be similarly dealt with.
He proposes a contraction of the currency at a rate
not exceeding $2,000,000 monthly. He further re-
commends that 1,200,000,000 dollars of 5.20 Bonds
be replaced by bonds of three classes, each class
amounting to $400,000,000, bearing interest not
exceeding 4i per cent. per annum, payable at the
option of the holder, in London, Paris, Hamburg,
or Frankfort, the principal and interest to be pay-
able in coin, to be free from taxation, and redeem-
able in 15, 20, and 25 years respectively. Mr. Bout-
well believes that by demonstrating the probable
early redemption of the existing bonds the holders
would be induced to exchange them for the pro-
posed new classes. Although the President's Mes-
sage and the Secretary's proposal have been fol-
lowed by a fall in the bonds in European markets,
it is but a temporary depression resulting from
ignorance. Some suppose that the Government
intends to turn the Six per Cent. into Four and a Half,
whether the holders agree or not. Of course such
au impression would induce them to get rid
of their Bonds, and every movement, either up or
down, is anticipated and aided by speculators.
Although Mr. Boutwell may not immediately be
able to effect the change he proposes he will cer-
tainly do so hereafter, for the United States have
but to continue the reduction of the Debt to make
scarce Five-Twenty Bonds. It would better suit
the Administration to relieve the pressure of taxa-
tion, but if a difficulty be experienced in effecting
the reduction, that relief will, perhaps, be delayed.
The Internal It !venue Report of Commissioner De-
lano, issued Dec. 6, announc,:s that the receipts of
his department during the year 1869 atnount to
160,000,000 dollars. He estimates the receipts for
1870 at 175,000,000 dollars. The internal revenue
has increased 26,000,000 dollars during the last
six months as compared with the precAing six
months, and this increase is principally owing to the
better operation of the amended laws for the collec-
tion of the tax on spirituous liquors and tobacco.
The New York. Herald publishes in advance an
abstract of Treasury Spinutr's Report, stating that
since the 11th of May, 1869, the Treasury has paid
$89,000,000 for bonds on account of the Sinking
Fund Act and the fund held subject to the action