The Sun.
London, England, 1856-08-21 00:00:00

THE CURRENCY' QUESTION.
Just published, Bvo., pp. 383, price is. 6d. In cloth,
URRENCY, SELF-REGULATING and
N..-) ELASTIC ; Explained in a Letter to the Duke of Argyle ;
with Introductory Chapters on the Nature of Capital and of Money,
and a Historical Sketch of British Currency Systems.
By A BRITISH MERCHANT.
London : Longman, Brown, Green, ant Longmans
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The object of this work is to describe a plan for the regulation of
r the Currency, by which an exact conformity would be attained be-
tween the amount of the Currency and the amount of the Circu.a-
tioa, the practical results of which conformity would be-1. That
the existence of monetary convulsion would be impossible ; 2. That
the masses of unemployed deposits now lying in the Bank of Eng-
land and elsewhere, utterly unm'oductive to their owners, wooli
exist no longer ; 3. That interest, even on m ney deposit, din banks,
would never sink, except a mere shade, below the r.turn yielded by
capital invested in the national funds; and 4. That interest would
never rise above that rate, except to such extent as mizlit be re-
quired
to compensate the lender for risk and trouble.
OPINIONS OF TUE PRESS.

Mortfirma HERALD.—" It proceeds from the pen of a merchant
and we must say that we have never read any work which more
clearly and ably sets forth the mercantile bearings of the question."
BANKER'S CIRCULAR.—(First Notice.)—Though the author has
not 01,-en hie name to the rubJi, In 'h *,tlo-page, it is .or
to discover that le proceeds tram the pen of one eno has pondered
well over a question that is second to none in its importance to the
British nation. The perusal of this work has given us much plea-
sure ; and, whoever the author may be, we give him a hearty wel-
come as a worthy champion."
BANKER'S CIRCULAR.—(Second Notice.)—" In the introductory
chapters the author explains the nature of capital; the difference
between propertied capital and monied capital ; the nature of money
properly so called, as it, existed among the more refined nations of
antiquity, who seem to have regarded it not as capital, but merely
as the instrument of exchange; and the nature of that barter sys-
tem, now universally prevailing, in which the name and functions
•f money are a:.signed to some commodity, such as gc4l, and in
which it is regarded not merely as the instrument of exchange but
also as capital, the prices of all other commodities being made to rise
or fall as the commodity so fixed upon may happen to be abundant
or scarce.

" He next goes on to exhibit the injurious consequences which re-
suit from fluctuations in the supply of the article so fixed upon ; Arst
showing the different effects which, under different social arrange-
ments, might be expected to flow therefrom ; end, second, by a
sketch of British commercial history, showing what effects have fol-
lowed in practice. Be holds that to that cause chiefly a-e to be as-
cribed the speculation and panic which follow each other ix unceas-
ing round ; that, while the circulation is not in-reared thereby. an
increase in tbe supply of gold is this country leads to the ()motion
of a redundant currency (as indicated by the mamas of unemployed
money in the Bank of England) which rarely fails to bring about
that reduction in rate of interest, and that competition among holders
of money to find employment for it, which are the sure precursors
of speculation. He points out what he considers a fallacy in the
argument by which Hume and his followers have sought to prove
that increase of money has no effect on rate of interest; arid be holds
that all depression of interest in this country, below that yielded by
capital invested in the national funds, is the consequem e of over sup-
ply of money, and that the proper way to prevent that, is to adjust
the supply of money in exact accordance with the extent of duties
to be discharged by it as the instrument of exchange.
"For the attainment of this end he proposes that a national bank
should be established, to be placed under the immediate control of
a committee of Parliament, itt functions to be purely mechanical,
and to consist in the issue of notes of 11., 101., 1001., 10001., to all
parties holding a certain amount of Government stock, and comply-
ing with certain regulations, interest being charged on the notes so
issued at a rate corresponding with that yielded by the said stock ;
and interest at ?he same rate being allowed on all notes deposited in
the bank, so that at no time would the amount of notes out of the
bank exceed the exact amount required for conducting the trade of
the country.
" He considers that, with a currency so arranged, redundancy and
depreciation would be alike impossible, and that, accordingly, the
cheek of convertibility would be unnecessary ; but, with the view of
conciliating the bullionists, he suggests arrangements by which the
notes might be made payable in gold, not, however, at a fixed price,
but at a price varying according to the stock held in the bank's
vaults.

" Conceiving that the gain from the creation of money should be-
long to the nation at large, he recommends a single bank of issue
the principle he advocates being. however, equally consistent with
the continuance of the present system of competing Issues, the
check on which would then consist, nog in an obligation to pay in
gold, but in an obligation to pay in the interest yielding notes of the
National Bank.
" He then goes on to explain that none of the objections that have
been made to Government banks would at all apply to one such as
he recommends; and concludes by showing that the adoption of
his system, even though the privilege of issuing were to be with-
draWn from them, would only very slightly diminish the gains of the
Bank of England, while it would increase those of the private and
jo'nf stock banks, and be of immense advantage to the nation at
large.

"The work before us contains a good deal that is new, and de-
serving of the serious consideration of all who take an Interest in the
vitally important subject of the currency."
MAGAZINE.—"A very sensible, though an extremely long
letter. . . . It is full of good facts and good reasons, although
the author takes only the signature of A British Merchant.' "
WESTMINSTER REVIEW.—" A comprehensive work."
CALEDONIAN MERCURY. —" Whilst, therefore, we dissent in several
particulars from the views expressed by a ltriVsli Merchant' in the
work before us, we cannot but thank him for the light which the
perusal of his letter, and its rela.ive introductory chapters, Is calcu-
lated to throw upon the subject, ant to compliment him upon the
originality and ingenuity which characterise the scheme he proposes
for the self regulation of the currency."
DAILY BOLLETIN (Glasgow )—" We never perused or studied any
treatise on the subject with more perfect satisfaction. The method
of the author is exceedingly clear. He proceeds gradually, leaves no
point untouched, forgets nothing, but teaches much, and illustrates
his views with such judicious care as to leave no mistake about his
meaning. Every page of the book is a page of ins ruction. We
only regret that all who write on the Currency are not possessed of
minds so lucid, or, boasting of the possess'on, that they fall to turn
their qu difications to so good account. Many are prevented from
stu lying the Currency question because of the misty and impractic-
able fashion in which it has been the habit to place it before them.
Let them read this book, with ordinary attention, and they will feel

surprised that what they learn from it was unknown to them before.
Much of its value lies in the author's perspicuity. We do not know

that we could say more in favour of a treatise on the Currency."

The Third Edition. Just Published, price 55., by post, free, ss. 6d.,
ON TRUE & FALSE SPERMATORRWEA,
with the View of distinguishing the Imaginary from the
Real Sufferers under this disease, and Correcting of wide-spread
Errors in relation to their Treatment and Cure.
Translated from the German of Dr. PICKFORD.
" Dr. Pickford is known to English readers by his frequent practi-
cal contributions to German medical literature. This is the first
time, he informs es, that ho has addressed himself to the nos-medi-
cal reader. We trust this may not be the last, if be shall ietect any
other equally flagrant evil which it may be in his power to cor-
rect."—LondOn Medical Gazette. " The tribe of Quiet Sympathisers,
and 'Medical Friends, are mercilessly exposed; and. if this book
could find its way into the hands of those who stiffer from the com-
plaint of which it treats, we are satisfied that many hundreds would
is saved much needless suffering of body
and mind, and what is of
volume is well qualified to put an end to the
lcss importance, though it is that. which the quacks most priz3—
......This
Circular.
eyystcm of treating Spernastorrhcea, and to place the treat-
mentmuc
empiricalh
ikeiy;oroodnoammucohreroaotid7—al3,arneddipeahly,iological basis. It is, therefore,
Cordon: 11. iial:tare, 219, Regent-street.

LONDON and .NORTH-WESTERN and
MIDLAND RAILWAYs.—A CHEAP EXCURSION- 'RAIN
will leave the Euston Station, London, on SATURDAY, 23d August,
1:,55, at 7 a.m., to Lou ester, Nottingham, Derby, Sheffield, Leeds,
Brad!ord, York, and other Stations, at the following Fares:—

RCUeYr.ed Carriages.
'FARES FOR THE DOFIUsLtEcIaJsOsU.
s. d. s. d.
Leicester 1 14 0 ..... ... 7 0
Loughbor o'

Nottingham
Newark*.............. • • I
Lincoln*
Derby ..
Chesterfield ...... .••
Masborough
Sheffield ...... • • ...• •• • • • • J

15 0

Oaken haw, for Wakefield
Normanton ........
Leeds ............
........
Bradford ..... ...........
•
York ...... • ... ....... 20 0
• Passengers for Newark and Lir.coln will be conreyed to these
places by First Ordinary Train, after the arrival of the Special Train
at Nottingham.

Returning MONDAY, 25th August, as under:—
Leave Y0rk...... • • . , 11.45 a.m. Leave Chesterfieli•• • • 2.50
Vradford .... —11.40 „ „ Derby
„ Leeds ........12 55 noon „ Lincoln.. ... 10.10 a.m.
„ Forman ton .... 1.15 p.m „ Newark • • —10,40
„ Oakenshaw .... 1.25 „•
„ Sheffield ...• .. 1.45 „
Masborough ... 2.10 , LeicesterLN:utgtilnibg°llra°.rau. !"4:.1:)1295 n
Arriving in London about 10.15 p.m.
Tickets not transferable, and available only to return by this Train.
Passengers will only be allowed to take their personal luggage by
these Trains, under their own charge, and that not exceeding Nibs 1,1
weight. Children under 12 years of age, half fares.
By order.

Euston Station, August, 1856.

Nip. HOWARD, Surgeon-Dentist, 52, Fleet-
street. has introduced an entirely new description of ARTI-
FICIAL TEETH Axed without springs, wires, or ligatures. They so
perfectly resemble the natural teeth as not to be distinguished from
the original by the closest observer; they will never change colour or
decay, and will be found very superior to any teeth ever before used.
This method does not require the extraction of roots, or any painful
operation, and will support and preserve teeth that are loose, and is
guaranteed to restore articulation and mastication. Decayed teeth
rendered sound and useful in mastication.-52, Fleet-street. At
home from ten till five.

ARE YOU GOING TO THE HIGHLANDS,
unrivalled for scenery, famous in story and song, to visit
the land of Sir Colin Campbell and the Highland Brigade ? If s
make a note to call at (when in the Capital of the beautiful North)
MACDOUGALL'S WAREHOUSE. High-street, Inverness. There
only can the varied products of the Highlands, natural and industrial,
be seen. In his extensive rooms MACDOUGALL has gathered together
all the best productions of the Highland looms, in TWEEDS, TAR-
TANS, LINSEYS, PLAIDS, SHAWLS, DRESSES, the favourite
HIGHLAND CLOAK, FLORA MACDONALD ditto, &c., &c.,
with the best Native JE WELLERY, CAIRNGORMS, PEARLS, &c.;
the pretty products of the Skye, Lewes, and Gairloch Looms and
Knitting Needles ; the Ilome-made, Undyed PLAIDS of Ord, Suther-
land, and Aroch ; the SNUFF-BOXES, COUPS, BICKERS of the
Culloden Carvers, &c. Side by side with all this he hag placed all
the necessary clothing of every description for Deer Stalking, Grouse
Shooting, and for Tourists, &c, Visitors to his rooms can at once
compare the varied products of the Three Kingdoms.

D. MACDOUGALL, Inverness.

/TOURISTS and TRAVELLERS exposed to
the scorching rays of the sun, and heated particles of dust
w:11 fnd

ROWLANDS' ICALYDOR

a most refreshing preparation for the Complexion, dispelling' the
cloud of languor and relaxation, allaying all heat and irrirehilit,
and immollately affording the pleasing sensation attending restored
elasticity And healthful state of the skin.
Freckles, Tan, Spots, Pimples, Flushes, and Discoloration fly
before Its application, and give place to delicate clearness vrith the
glow of beauty and of bloom. In cases of sunburn or stings of
msects its virtues have long been acknowledged.
Price Is. 641. and Bs. 6d. per bottle.
ROWLANDS' MACASiAR OIL.
A delightfully fragrant and transparent preparation, and, as an
invigorator and purifier, beyond all precedent.
The Prices are 3s. 6d., 75., family
and double that size, 21s. bottles (equal to four small), 10S.

ROWLANDS' ODONTO,
or Pearl Dentifrice, compounded of the rarest and most fragrant
exotics. It bestows on ihe Teeth a pearl-like whiteness, frees them
from tartar, and imparts to the gums a healthy firmness, and to the
breath a grateful sweetness and purity.
Price 2s. 9d. per box.
Sold by A. Rowland and Sons, 20, liatton-garden, London, and by
Chemists and Perfumers.