The Sun.
London, England, 1860-02-03 00:00:00

THE SUN, LONDON, FRIDAY EVENING, FEBRUARY 3, 1860.

MW THEATRE - ROYAL, A ELPHI.
D Mole Proprietor and Manager, Mr. Benj. Webster.
Reproduction of THE DEAD HEART, with all its power-
ful effects.
THIS EVENING, THE DEAD HEART. Messrs. B.
Webster, J. L. Toole, David Fisher, P. Bedford, C. J. Smith,
Billington, Powell, Romer, Miss Woolgar, K. Kelly.
After which THE NYMPHS OF THE LURL EYBE RC ;
or, The Knight and the Naiades. Messrs. Toole, Bedford,
Eburne, Smith, Powell, Romer, Miss Woolgar, C. Webb, K.
Kelly, Laidlaw.
Doors open at half-past six—Commence at seven. Box-
°face open from 10 to 5. No charge for securing seats,
nor ter bills of performance. All fees to servants of this
Sitablishment are strictly prohibited.

Acting Manager—Mr. Wm. Smith.

ROYAL ST. JAMES'S THEATRE,
King-street, St. James's. Lessee, Mr. T. B. Chatter-
ton. The nearest Theatre to Chelsea, Pimlico, and West-
minster, the Park beinz open to carriages and foot passen-
gers all hours of the night.
Last Week of the Pantomime.
THIS F.TENING the performances will commence with
BORDER MABRIAG E. Messrs. 11. T. Craven' Charles
Young, G. Spencer, and Miss aryndlmm.
After which, a new Tragic Ballet, entitled MY NAME IS
NORVAL. Supported by C. Young, Barrett, Miss Lydia
Thompson, Clara St. Casse, &c.
To conclude with the new pantomime of PUNCH AND
JUDY. Introducing Miss Lydia Thompson and the Corps
de Ballet. Clown, Harlequin, Columbine, and Pantaloon, and
the wonderful Performing Dogs.
Reduced Prices—Gallery, 6d ; Pit, ls. The Box-office open
from 11 to 5 daily. Doors open at half-past six; perform
since commences at 7.

ASTLEY'S ROYAL AMPHITHEATRE
Westminster-road.

Last Three Weeks of Mr. W. Cooke's Season,

THIS EVENING, the Grand Illustration of Shakspeare's
RICHARD THE THIRD, or The Death of White Surrey.
Richard, Mr. Ennis ; Richmond, Mr. R. Phillips, New Olym-
pian Scenes in the Circle by the first riders of the day—Mr
IV. Cooke's great Home Act—terminating with the Eques-
trian, Operatical, and Comic Pantomime of HARLEQUIN
TOM MOODY ; or, Old Towler the Huntsman and the God-
dess Diana ; Diana, with Songs, Miss Jacobs.—Costly and
dazzling Transformation Scsne.—Harlequin, M. Richarde ;
Columbine, Mdlle. Mazoni ; Clown, M. Hilderbrandt ; Pan-
taloon, Mr. P. Abbot —A family of Sprites —Epsom Rales by
Living Jockies and real Ponies, with ring and Stage com-
bined.
Commence at 7.

Grand Morninci, Performances of the Pantomime on Satur
Feb. 4 and Saturday, Feb. 11, at Two o'clock each day.

CANTERBURY HALL CONCERTS.-
EVERY EVENING. Sterndale Bennett's MAY
QUEEN.
And a Grand Seleelon from Heyerbeer's new opera of
DINORAH.

Comic Vocalists —Messrs. George Hodson (the Irish Come.
dlan and Mimic), W. T. Critchtield, and E. W. Hackney.
•

Several interesting Pictures are added to the Fine Arts
Gallery. The suite of Halls have been re-decorated and
beautified. and constitute one of the most unique and brilliant
sights of the metropolis.
ROSA 130 N E UR' S celebrated PICTURE of the HORSE
FAIR is now added to the already magnificent Collection of
Paintings in the Canterbury Hall Fine Arts Gallery. The
gallery is opea from 5 till 11 on Sunday Evening.

THE WEATHER.—SUN OFFICE, FEB. 3, 1860.
THERMOMETER, IN THB SHADE.
41—highest since noon yesterday.
39—lowest this morning and during the night.
42—this day at noon.
BAnomETEn-30.31.—rising rapidly.
WIND, North-Easterly ; with dull cold weather.
was frosty all yesterday, and rainy in the evening.

HIGH WATER AT LONDON BRIDGE.
THIS DAY.—Morning, Bh. 22m.—Afternoon, Bh. 54m
To-momtow.-Morning, 9h. 28m.—Afternoon, :10h. 4m,

•e

e.,
ttl."

THE SUN.
LONDON, FRIDAY, FEB. 3, 1860.

The recent sudden rise in the rate of Discount is
but another evidence of the suicidal policy of the
Act of 1844. The Bank of England is bound to
buy gold at a fixed price, and sell it at a price far
below its intrinsic value in the markets of Europe.
Else why should the foreigner buy our gold at the
low price here and sell it at the highest price he
can command in the European market ? Sir
ROBERT
PEEL once said that it was the natural
interest of commerce to buy in the cheapest and to
sell in the dearest market. Aid yet in the same
breath he fixes the value of the standard, which
ought to find its own price in the market, at a
given invariable denomination ! If a madman were
to enunciate such folly, ho would only bo laughed
at; but when a Minister of State puts forward such
doctrines he is listened to by one party with wondrous
incredulity, and by another with selfish applause.
The bullionists, who live and thrive by the trick
which fills their coffers at the expense of the public‘
praise the wisdom of the statesman to the very echo,
On the other hand those who suffer, find it per-
fectly useless to reason with people committed to
foregone conclusions however absurd in theory and
self contradictory in practice. If people of no poli-
tical status were to set up such unreasonable argu-
ments they would be set aside as visionary.
And whence does all this national grievance
spring from ? From the sordid avarice of the
dealers in money—money accumulated at the cost
of the country—both commercially and agricul-
turally, in fact from every denomination of labour.
And is there no remedy ? Yes—one and many ; but
those who hold the cord of oppression grasp it

with yet a stronger clutch when relief is proposed.
For in the relief of the people they see their own
doom.

very
yle boast of being free-traders, and yet in the
essence of what may be termed free trade
stillwe
remain the most inveterate monopo-
lists ? Free trade
11.
trade, s universal freedom—like
the wind. that.blowfrom all sides of the compass
at its own free wiflut with us, we sanction
the principle of free ade, and
mean sto use it. Trade is yet withhold the
produced and enlarged
by human labour, and thereby spreads over the
world, , into many countries
where labour
'
is cultivated, but where its produce
transfer , and to relieve this difficulty
this
difficult of
oiney is sub-
stituted as a token iu purchase of b
produce.
Thus coin merce is free to buy and sell thisPrd
of labour, -but the token is restricted in its operation
as a med ivan of value, and hence the perplexity
that ensu, Is as to a fair barter. What a merchant
gain's in 0] le case he Joses in the other.
Now wh3 7 should a nation, so enlightened and so
rich as Enk, ;land, be so crippled in her commercial
enterprise as ':to be shackled by the inconsistency of
her own znor Wary conduct ? It is not carrying out

a principle, but the absolute antagonism to all
principle. In fact, the very absurdity of our prac-
tice is being so daily evinced that the foreigner
comes over to buy our cheap gold while he can get
it at 2i or 3 per cent.—but keeps away when the
price rises to 5,6, or it may be 10 per cent! He
alone is wise in his generation, and we minister to
his wants with our eyes open. No doubt he thinks
us very liberal, but at the same time very foolish.
And whence does the excessive prodigality arise
on our part ? Why, from no will of our own,
but from the cunning contrivance of those who
periodically profit by our misfortunes. We set
up a standard of value like a block of granite,
against which we run •ur heads, but return no
wiser from the collision. Why should we have free
L trade in everything else and yet withhold it in money
—the very keystone of all our dealings ? The
thing is so absurd that one is left to wonder
at our credulity. And who profits by the sudden
t rise in discounts or the fictitious value of money ?
Why, the Bullionists—the shareholders of the
Bank of England stock. It may suit the exigencies
of the Chancellor of the Exchequer for the time
being to subserve to the necessities of the moment
by still warding off the day of reckoning with the
Bank of England, because he does so with money
not his own.

But is that Minister an honest man who does
with the money and credit of the nation what he
would never do with his own? We are nominally—
we say so advisedly—we are nominally indebted to
the Bank of England fourteen millions, for which
we give them the national security to use to their
own benefit. If their stook of bullion become so
low that they cannot meet their promises to pay,
the Minister of the day steps forward with the
National Guarantee and saves them from Bank-
ruptcy. Suddenly the price of money under-
goes a very_ great fall, the character of the
Bank is saved, and its coffers enriched at
the national loss in all its wide ramifications of
trade, commerce, and agriculture. Now, is this a
fit state of things to be endured ? Shall we thus

go on—

"From age to age in everlasting debt ?"

Well, we may be asked where is the remedy ?
Very easy and very simple. Abolish the standard
price of gold as an absurdity in principle, and as it
has proved, ruinous in practice. Let gold, like
every other commodity, find its own level. If it be
over-plentiful it will fall in value like corn or any
other produce ; if scarce it will rise in value as the
demand increases. Well, then, we may be
asked what becomes of the circulating medium for
the wants of commerce ? Aye ! that word medium
strikes at the very root of the standard. For what
is medium but the token of value ? It is like a
ticket toa theatre or to a railway—a representative
that you have deposited the value of the thing you
require. And why should not a similar ticket,
note, or representative of value pass current
throughout the land ? We have bills of exchange
—or floating securities—passing current in com-
merce, trade, and in all manner of ways, and why
not have such symbols of value in the shape of notes
of one pound, two pounds, or three pounds ?
We have abundance of five-pound notes, and
million of ten, twenty, and thousand pound
notes. Now where is the virtue in the
large notes that may not be found in the smaller
denominations ? We think the risk in the low is
as nothing compared to high rates. But the secrot
lies in this, that the makers of the law deal in the
larger notes, and those who have to obey deal in
the smaller, when they can get them. And why
not get them ? Because the issue of small notes
of £l, £2, and £3 would izfringe on the privilege
of usurers and bullionists, who profit by the neces-
sities of the people—a people whose living is derived
from labour in agriculture, trade, and commerce.
Now, is this a wholesome state to live in ? Is it
an honest one for Ministers to trade on politically,
or subserviently to gain a temporary or even a
permanent majority ? Would any one Minister,
in his private capacity, practice or even connive
at such barefaced jugglery? We think not. He
has too much respect for personal character to
stoop to such indignity. And yet, in his Minis-
terial capacity, he shrugs his shoulders and shares
the odium with his fellows, while others—the
money grinders—pocket the fruits of Ministerial
inquity—because they are irresponsible ! Future
ages will wonder while they curse the iniquity of
those who 'perpetrated such villanies, while they
may weep with indignation at the endurance of the
millions who suffered.

Our ancestors seem to have understood the
use of money far better than we do. For
in their dealings with one another they used
symbols or tokens of value. A packman could
tarry his wares on his back, or it may be, as he
grew richer by his labour, he could afford a donkey
or a poney to share his burden, and barter per-
sonally with his customers ; but when the extent
of his business exceeded those limited means of
transport he was compelled to have recourse
to a system of exchange, and employ
tokens as representatives of his trading
transactions. And what were those tokens ? As
various as the habits or customs of the people. In
some cases, bits of leather—in others cowrie shells;
or, in short, any symbols that the people had
faith in as being the representatives of an honest
and confiding system of barter. And why should
not we, who profess to be wiser than our fore-
fathers, act up to the common sense of things ?
Amanto cannot carry a ton weight of
silver pay
for a purchase—nor would
he find it convenient to carry even a hundred
weight of gold to complete the
bargain.
But he
would give his cheque on his banker or make any
equivalent arrangement which, so long as there is
confidence, would settle the matter conveniently, to,
the satisfaction of both and the profit and security,
of commerce.

Well, now, the Chancellor of the Exchequer pro-
poses to make a Financial Statement on Monday
and enter into the mysteries of his Customs Duties
Acts with a view to explain the commercial
treaty with France. What better could ho do than
to propose a free commercial treaty with th• people
of his own country, by striking off the fetter.t,
which shackle them in their money matters ?
may answer—the debt due to the Bank stands in
the way. We answer—pay off that debt in one
year, or in more. We paid some eighty millions
for the Russian War, for which no man is the
better, while thousands of families are placed in
mourning. And yet this money was spent in two
years—and here we boggle about paying a sixth
part of that amount ! Verily ! where there's a
will there's a way. But it don't suit the necro-
mancy of the day, nor the cunning of the times.
Yet we shall be wiser before long—if necessity be
the mother of invention !

The proverb, that the darkest hour is that before
dawn, seems to be realising in the once hopeless
night of Italian independence. The day-star of her
resuscitation is now shining out in all her own
beautiful effulgence. Not only has her dark
oppressor been vanquished in his strength
of arm, but now her spiritual tyrant is fast
hastening to his own perdition, and others
are following in his train with yet more giant

. _
strides. NAPOLEON was half afraid to carry
out his own magnificent "idea" of liberty
from the Alps to the Adriatic, and it is perhaps as
well that he halted in the glory of his march, lest
the Italians should be " blasted with excess of
light"—for now they have had time to rub their
eyes and look around, and behold the horizon of
liberty spreads and enlarges even beyond their utmost
ken, for Italy is becoming free from the furthest Alps
to the more sunny regions of Vesuvius, while the
glare of liberty extends to Calabria and even il-
lumines the kindred land of Sicily—

"Where Etna's fires sublimely rise,
Tinging the evening skies with flame !"

—Aye, the kindred flame of liberty. We may
thus hope to see Italy free from one extremity
to the other before the year is out. In
fact, we should not be sorry to see Prince
NAPOLEON mount the late throne of MURAT, and
thus become the successor of a chivalrous soldier,
who was as kind-hearted as he was brave.

We copy the following from our French confi-
dential contemporary, the _Morning Post, as an in•
teresting foretaste of what Italy may soon expect
from the concessions of her friends, and from the
exigencies of her own changed position, as well as
the irresistible course of events :
" We announced at the beginning of the year
that a virtual alliance had been effected between
England and France far the settlement of Italian
affairs. We expressly stated that the two Govern-
ments bound themselves by no Treaty, but that
their agreement was the result of the force of
circumstances and the dictation of Public Opinion.
This alliance, every day drawn closer, already
begins to produce evident and tangible conse-
quences. It is now formally determined that no
intervention shall take place in Italy, and that
the people shall be left to their own devices. It
is therefore agreed that the States of Central Italy
shall dispose of themselves. Fresh elections are to
be held, and the Assemblies resulting from popu-
lar choice are free to decree the annexation of their
constituents to the Sardinian kingdom. The French
troops are to be withdrawn from Northern Italy
and from Rome at an early opportunity. It is no
secret that Austria, having regard to the Western
alliance and her own serious difficulties, gives up all
hope of retrieving her position and influence in Italy,
and not only sheathes her sword, but puts it aside.
An attempt will be made to induce her to grant re-
forms in Venetia, of which she is still legal mistress.
Here the Italian question might terminate in the
recognition of the new State of Europe. But will
it be allowed to do so ? We doubt it. The stub-
bornness of the POPE bids fair to deprive him of
the whole of his temporalities. Naples groans un-
der a heavier tyranny than ever, and the cries of
Venice are loud enough to strike our ears, however
we may shut them. The Italian question, then,
being likely to take still larger proportions, our
best, safest, and most beneficent policy is that line
of strict duty by which, this time last year, we
might have prevented war, and by which we may
now guarantee the peace of Europe. That line is
—no foreign intervention, but Italy for the Italians."

It is doubtful, of course, after all, whether any
good, even now, will come of it in the way of
Economy in the Public Expenditure ! But at
any rate the House of Commons yesterday entered
at last upon the right course—it for once made a
really admirable beginning towards the realisation
of an enterprise that if but resolutely carried out
must lead us inevitably to the long-desired goal of
a rational and systematic Retrenchment. To Mr.
WISE belongs the credit of bringing the House to this
happy decision upon Thursday, the 2d of February,
1860. Whatever else may be the result, there at
any rate will be emblazoned upon the records of
HANSARD, under that henceforth notable date, the
satisfactory incidents, firstly, of an excellent dis-
cussion upon this subject of vital interest to the
community, and secondly of a decision as auspi-
cious to the advocates of Economy as it is unques-
tionably ominous to the members of her
MAJESTY'S Government. The motion submitted to
the house yesterday by the hon. member for
Stafford was simply for the appointment of a select
committee to inquire annually into the miscellane-
ous expenditure of the preceding twelvemonth.
Is there any doubt as to the necessity for
such a yearly investigation ? Ask the
very Cabinet Minister who last evening
same forward to oppose (officially) the proposition
his own reiterated complaints have more than
merely justified—have, we might even go so far as
to assert, so to speak, necessitated—complaints,
again and again repeated, in his capacity as Chan-
cellor of her Majesty's Exchequer. No one has
more loudly or more perseveringly denounced the
profligacy of the National Expenditure than Mr.
GLADSTONE. No one has more plainly put it to
the House of Commons in the form of an explicit
reproach, that the public monies are year by year
voted by it with a thoughtless and wasteful extra-
vagance. Yet, year by year, this prodigal
expenditure gees on, not only without interrup-
tion, but actually goes on year by year increasingly,
no matter what Minister happens to be First Lord
of the Treasury—no matter what financier wears
the gold robe of Chancellor of her MAJESTY'S
Exchequer—no matter what party chances to hold
within its grasp the reins of the Imperial Govern-
ment. Yet no sooner does an hon. member rise, as
Mr. WISE did yesterday, for the purpose of at li
least proposing the appointment of a Select Com-
mittee of Inquiry into the admitted feet of this per-
petually increasing and increasing expenditure,
than he is met with the preposterous objection that
the House, by referring these matters to a select com-
mittee, will be diminishing the responsibility of
Government! Remembering that that responsi-
bility has in no way prevented the increase of
taxation, and the larger and larger prodigality of our
annual disbursements under any and every Govern-
ment; we do not hesitate one instant to express our
unalloyed satisfaction in the result of last night's
debate and division. Mr. WA's motion having
been carried in spite of the ar uments against it
advanced to the House successively by the Secretary
of the Treasury and tl' - teller of the Exchequer,
and carried too byliat really considerable majority
of 121 against 93, giving a clear majority of 28 (in
Commons, a house o; 214) against the Government !
In submitting his to the
first
rst
House
of to
last, as the phrase is, from the book—in using of
those exceedingly stubborn things—facts and
figures ! lle drew them exclusively from official re-
turns, but chiefly from one important and authori-
tative paper which (it is worth particular notice
this) had been prepared by
that accomplished
r
Master of Finance, Mr. JAMES -WILSON, late.
Cedhiatenrcelolofr o
gtl.etcheEEcoxici;):encitsute. From that document,, and now the Indian
we may see at a glance, how notable has been
the rate of increase during the last 20 or 30 years
in the Cil il Service Estimates. Take the follow-

ing :-
10 years ending 1827 .. ......... £2,000,000 per annum.
1837 ............ 2,200,000 „
” 1347 ............ 3,000,000 „
1857 ............ 5,700,000 „
Again—viewing the matter at once in a more con-
densed form, and yet by a more comprehensive
survey--it is observable through Mr. WILSON'S

paper, that while those Civil Service Estimates
during the twenty years ending in 1839, amounted
to au aggregate of £43,000,000; in the twenty
years ending with 1859 they reached the monstrous
total (more than doubling the previous amount) of
£94,000,000. The subjoined contrasting array of
figures will help to throw a flood of light upon the
manner of increase in a few important partiou-

WITUDR.AWAL OF BULLION FROM
THE BANK OF ENGLAYD.

TO THE EDITOR OF THE SUN.

STll,—lfere we aro again on the eve of a panic,
and all because some two or three millions of gold
is being withdrawn from the Bank.

The prosperity which we have bees boasting of
is rapidly disappearing, and in another month we
shall have a million of men dismissed from employ-
ment.

What is the remedy ? An internal circulation
of one pound exchequer bills, not promising to pay
gold, but promises on the part of Government to
receive its own notes as payment for taxes. These
exchequer notes should be declared legal tender for
debts.

JAMES HARNEY, Liverpool.

THE MONEY QUESTION.

Whether the use and nature of money, which all men so
eagerly pursue, bo yet sufficiently understood or considered
by all ?
Whether the four elements, and man's labour therein, be
not the true source of wealth?

Whether money be not only so far useful as it stirreth up
industry, enabling men mutually to participate the fruit of
each other's labour P

Whether money is to be considered as having an intrinsic
value, or as being a commodity, a standard, or a pledge, as
is variously suggested by writers? And whether the true
idea of money, as such, be not altogether that of a ticket or
counter !

Whether the terms livre, pound sterling, crown, &c., are
not to be considered as eipononts or denominations of rich
proportion ? And whether gold, silver, or paper, are not
tickets or counters for reckoning, recording, and trans-
ferring thereof i_

Whether the denominations being retained, although the
bullion were gone, things might not nevertheless be rated,
bought, and sold, industry promoted, and a circulation of
commerce maintained f'

What makes a wealthy people ? Whether mines of gold
and silver are capable of doing this ? And whether the
Negroes, amidst the gold sands of Africa, are not poor and
destitute ?

Whether there be any virtue in gold or silver other than
as they set people to work, or create industry ?
Whether power to command the industry of others be
not real wealth ? And whether money be not, in truth,
tickets or tokens for conveying or recording such power,
and whether it be of great consequence what materials the
tickets are made of ?

Whether to promote, transfer, and secure this commerce,
and this property in human labour, or, in other words, this
power, be not the sole means of enriching a people; and
how far this may be done independently of gold and silver ?
Whether a fertile land, and the industry of its inhabi-
tants, would not prove inexhaustible funds of real wealth,
be the counters for conveying and recording thereof what
you will—paper, gold, or silver?
Whether the opinion of men, and their industry conse-
quent thereon, be not the true wealth of Holland, and not
the silver supposed to be deposited in the Bank of Amster-
dam ?

" Whether, in order to understand the true nature of
wealth and commerce, it would not bo right to consider a
ship's crew cast upon a desert Wand, and by degrees form-
ing themselves to business and civil life, while industry
begot credit, and credit moved to industry.
" Whether such men would not all set themselves to
work ? Whether they would not subsist by the mutual
participation of each others' industry? Whether, when
one man had in this way procured more than he could
consume, he would not exchange his superfluities to supply
his wants ? Whether this must not produce credit ?
Whether, to facilitate these conveyances, to record and cir-
culate this credit, they would not soon agree on certain
tallies, tokens, tickets, or counters ?

" Whether it be not agreed that paper hath, in many
respeots, the advantage above coin, as being of more de-
spatch in payments, more easily transferred, preserved, and
recovered when lost.
Whether the sure way to supply people with tools and
materials, and to set them to work, be not a free circulation
of money, whether silver or paper ?
Whether the great evils attending paper money, in the
British plantations of America, have not sprung from over•
rating their lands and issuing paper without discretion, and
from the legislators breaking fheir own rules in their own
favour, thus sacrificing the public to their private advan-
tage ? And whether a little sense and honesty might not
easily prevent all such inconveniences ?
Whether there are not to be seen in America fair towns,
wherein the people are lodged, fed, and clothed, without a
beggar in their streets, although there be not one grain of
gold or silver current among them ?
Whether a discovery of the richest gold mine that ever
was in the heart of this kingdom would be a real advantage
to us ?

Whether, therefore, a national bank would not be more
beneficial than oven a mine of gold

Whether counters be not referred to other things, which,
so long as they keep pace and proportion with the counters,
it must bo owned the counters are useful ; but whether,
beyond that, to covet or value counters be not direct folly P
Whether we are sufficiently sensible of the peculiar
security there is in having a bank that consists of land and
paper, one of which cannot be ezported, and the other is
in no danger of being exported ?
Whether money could ever be wanting to the demands of
industry, if wo had a national bank P

\Vhether paper doth not, by its stamp and signature,
acquire a local value, and become as precious and scarce as
gold ? and whether it be not much fitter to circulate largo
sums, and therefore preferable to gold ?
Whether there be not a measure or limit within which
gold and silver are useful, and beyond which they may be
hurtful?

Whether that measure be not the circulating of induotry!
Whether money circulating be not the life of industry ;
and whether the want thereof doth not render a State
gouty and inactive ?
Whether all circulation be not alike a circulation of
credit, whatever medium (metal or paper) is employed, and
whether gold be any more than credit for so much power ?
Whether it doth not much import to have a right
conception of money; and whether its true and just idea
be not that of a ticket, entitling to power, and fitted to
record and transfer such power f
" Whether, although the prepossessions about gold and
silver have taken deep root, yet the example of our colonies
in America cloth not make it plain as daylight that they are
not necessary to the wealth of a nation as the vulgar of all
ranks imagine ?
" Whether it be not evident that me may maintain a
much greater inward and outward commerce, and bo five
times richer than we are, nay, and our bills abroad be of far
greater credit, though we had not one ounce of gold or silver
in the whole island ?
" Whether all the regulations of coin should not be made
with a view to encourage industry and a circulation of com-
merce throughout the country."—Bishop Berkeley's Quer iBt.

TIA:RONIETER OF THE BANK OF ENGLAND.
The following table may perhaps give some idea of the
influence of Peel's bill on trade :

Millions of
Gold in the
Bank.

Rates of Dis-
count.

20 to 16

2i per cent.
3
~

Trade brisk. Excitement.
New schemes.
Trade good, but the money-
market closely watched.
Trade good, but great caution.
Trade not so good. Symptoms
of stagnation.
Trade in an anxious condi-
tion. Suspicion awake.
Trade slack. Stagnation.
Trade paralysed. Operations
reduced to the lowest limit.
Panic. Failures of banks.
The Minister of the day in-
terferes, and writes a letter
authorising the Bank to
issue inconvertible paper.

4 11
6 ~

6 ~

7 ~
8
~

9 to 20 „

PARLIAMENTARY DIVISION.

HOUSE OF COMMONS.-FEB. 2.

MISCELLANEOUS CIVIL SERVICE EXPENDI-
TURE, &c.
Afotion made, and Question put, " That, in the opinion of
this house, it would be desirable to appoint every year a
select committee to inquire into the Miscellaneous Civil
Service Expenditure of the preceding year; into the
payments made out of the Consolidated Fund ; and into
those on account of the Woods, Forests, and Land
Revenues." The house divided—Ayes, 121; Noes, 93.
ATE-1',31.

Agnew, Sir A. Gower, F. L. Pollard I.lrquhartlY•
Ayrton, A. S. Gregory, W. H. Portman W. H. B.
Bailey, C. Gregson, S. Powys, L. P.
Ball, E. Griffith, C. D. Pugh, D. (Carman.)
Baring, A. H. Hadfield, Geo. Ricardo, J. L.
Barrow, W. IL Hennessy, J. P. Ricardo, 0.
Baxter, W. E. • llodgkinion, G. Ridley, G.
Bazley, Thomas Holland, E. Robartes, T. J. A.
Black, Adam Hopwood, J. T. Roupell, W.
Blackburn, I'. Horsfall, T. B. Russell, Ilastings
Bowyer, W. Howes, Edward Salomon,s,Alderman
Bramston, T. W. That W. Salt, Titus
Bright, J. James, Edwin Scully, V.
Briscoe, J. I. Kendall, N. Seymour, Di by
Brocklehurst, John Kennard, C. Shelley, Sir J. V.
Buller, Sir A. Kershaw, J. Smith, J. B.
Butler, C. S. King, Hon. L. Smollett, A.
Caird, James Kinglake, A. W. Stansfeld. J.
Cave S. Kinuaird, Hon. A. Steel, John
Cayley, E. S. Langston, .1. H. Stirling, Wm.
Churchill, Lord A. Langston, 11. G. Steuart, A.
Clay, James Lawson, W. Tollemache, J. 11.
Cobbett, J. M. Lee, W. Tomline, G.
Collier, R. P. Levinge, Sir R.G.A. Torrens, R.
Collins, T., jun. Locke, J. Trelawny, Sir J. S.
Daiglish, Robert Long, R. P. Turner, J. A.
Davey, R. Loilgtield, Robert Vandeleur, Col.
Deedes, Wm. Lyall, G. Verney, Sir Harry,
Dickson, Col. Lysley, W. Walcott, Adm. J. It,
Dodson, John G. Mackie, .1. Walter, John ,
.
Douglas, Sir C. Maguire, J. F. A
Dunlop, A. Mellor, John INN.":l,iyiltg
,iittl, ./
Arthur
}.]l:t
Ewart, William Miller, William We.9,ead, 11.
Ewart, J. C. Mitchell, T. A. Williams, W.
Ewing, IL E. C. Monson, W. J. Willoughby, Sir H.
Farquhar, Sir M. Napier, Sir C. Wilmington, Sir T.
Fermoy, Lord Paget, C. Wy 1 il, James
Forster, Charles Palk, L. '
Card, It. S. Parker, Major W.
Garnett, W. J. Pease, H.
Gordon, C. W. I'eto, Sir M. Wise, J. A.
Gore, J. R. 0. Pilking,,ton, James Smith, A.

TELLERS.

NOES-93.
Autrobus, E. Evans, T. W. Massey, W. N.
Atherton, W. Fenwiek, Henry Monereilf, .1.
Ilagwe11„1. Finlay, A. S. Morgan, Major
Raring, Sir F. Fitzgerald, J. D. Mowbray, Rt. Hu. J.
Baring, Thos. Geo. Fortescue, Hon. D. Nortlicote, Sir S. H.
Bathurst, A. A. French, Fitzstciplien Paget, Lord C. E.
Beaumont, W. B. Gavin, Major Palmerston, Viset.
lieecroft, G. S. George, John Peacock, G. M.
Blake, J. A. Gibson, T. M. Puller, C. W.
Plencowe, J. G. Gifford, Earl of Bolt, .1.
Bonham-Carter, J. Gladstone, W. E. Rothsehild,BaronL
lionield, Beria I i Glyn, G. G. Rothschild Iturouli
Bouverie, I'. P. Goldsinid, Sir F. Russell, A. J. E.
Boy ill, Win., II a liburton, Justice Selwyn, C. J.
Bridg-es, Sir 11., llt. Mulkey, Thomson Seyiner, 11. K.
Bristow, A. liemllani, Thos. E. Seymour, Sir 3E.
Itimie, Hou. G. 11. C. Henley. Lord Seymour, H. D.
Calthorpe, F. H. Hood, Sir A. Spooner, R.
Cardwell, lit, 11 it. E. II übbard, J. G. Stanley, Lord
Castlerosse, Vist. II mite, W. Taylor, Colonel
Cecil, Lord It. Kekewich, S. Thymic, Lord 11.
Childers, H. C. E. Kingseote, Lt.-Col. Upton, General
Clifford, C. C. Laing, S. Villiers, Rt. lion. C.
Colebrooke, Sir T.E. Legit, W. Warre, J. A.
Cowper, Hon. W.F. Lennox, Lord 11. G. IVoinvss, J.
Cubitt, Aid. Lewis, Sir G.C., Bt. Whitbread' S
Denny, Richard Lygou, lion. F. Whitmore, 13.
Denman, G. Macaulay, K. Wood, El Ilu. Sir C.
Disraeli. Benjamin Matins, 11.,
Duff, Mn ii', Marjoribanks, D. C, TELLERS,
Fw,.ii,,i,'A. F. Marshall, W. . nrand, 11. B.
Elphinstone, Sir J. )lartiud. linatclibull-Hogess

LATEST NEWS.

The following telegrams have been received at
Mr. Reuter's office :

PARIS, FRIDAY.

The Constitutionwl publishes a pastoral letter
addressed, in the year 1810, by the former Bishop
of Orleans and preacher in ordinary to Louis XVI:,
and who was prosecuted in 1791 for refusing to
take the oath of the civil constitution of the clergy:

In this letter Monseigneur Rousseau states that
it is not necessary for the Pope to be a temporal
Sovereign, he also claims the liberties of the Galli-
can Church.

PARIS, FEB. 2.
The French Government has decided on Tory
considerably reducing the amount of the army.

The Patrie of this evening publishes an article
stating that the Sardinian authorities are every-
where encouraging the movement against the sepa-
ration of Savoy, by putting clown the almost una-
nimous wish of the inhabitants; who are demanding
annexation with France. The author of the
article expresses his hope that orders will be issued
from Turin which may remove these impediments,

and says:—
" The people of Savoy have the same right as the
people of Italy to declare their opinions in perfect
security and complete independence.

"France has not excited the manifestations of
the secular feelings of the inhabitants of Savoy,
which have lately shown themselves by wishes so
unanimous, sanguine, and absolute that they have
attracted the attention of the whole of Europe.
Their wishes are of so energetic a character that
they have been manifested in spite of all obstacles
and all difficulties: •

" We have a right to demand a cessation of this
intolerable state of affairs and equal justice for all.
People will then see that the real aspirations of
Savoy and Nice are for France."

THE BOMBAY AND AUSTRALIAN MAILS.
The following telegram has been received from
the Peninsular and Oriental Steam Navigation
Company, Feb. 2 :
The Vectis arrived at Marseilles at noon this day.
Mails left for London at 2 p.m. Letters will be
delivered on Saturday.
The Delta, with the heavy portion of the mails,
left Malta at noon on the 30th January, and may
be expected at Southampton about the Bth inst.

CALCUTTA, lAN. 10.
The following regiments have been ordered to
proceed to China :

Infantry—The 3d, 6th, Bth, 31st, 37th, 44th,
56th, 60th, 66th, 67th, 73d, and eight native regi-

ments.

Cavalry—The Queen's let Dragoon Guards.
The staff of the China force is composed as fo:

lows :-•-•

Sir Hope Grant, Commander-in-Chief; Generals
Napier and Michel, Generals of Divisions ; Colonel
Stephens, Deputy-Adjutant-General ; Celonel
Mackenzie, Quartermaster-General; Colonel Bruce
and Colonel Haythorne, Chiefs of the Staff.

THE BRAZILS.

LISBON, FEB. 1.

The Avon has arrived, with the January Brag
mail, which contains no political news of import

ance.