The Sun.
London, England, 1856-10-09 00:00:00

LONDON, TIIUR ',IDAY, OCTOBER 9, 1856.

A suspension of c- e h payments by the Bank of
Trance is more than :hinted at. No doubt what-
soever is entertained E.s to the expediency of such
a proceeding. It it: said, however, that the
EMPzRoa is a disciple of the "Mercator" school
ef currency, and that he will endeavour to pro-
crastinate the " evil day" to the last moment.
The attempt will least to many difficulties, and
when at last the mov vment becomes inevitable, it
will be attended with much greater disgrace and
inconvenience than if a dopted at an earlierTeriod,
when the Bank was rte ally solvent, and in a posi-
tion to meet all itH liabilities at a moment's
notice.

The exciting cause of the existing crisis is, un-
doubtedly, the constant drainoto China and India.
The former country, n ccording to true bullionist
principles, is endeavouring to bring back the
silver of which she had been denuded, in accord-
ance with the stipuLations of the Treaty that
restored peace to " the Celestial Empire."
The progress of the rebellion created a desire
for hoarding that made every man who had the
power to do so anxious to create a secret store.
It also, by lessening the demand for European
Aoods, turned the balance of trade against us, and
the failure of the mul'berry crop in France, and
consequent diminution of the production of silk,
greatly enhanced the 'mount of payments, which
could only be made in specie. This, as we have
stated, was the origin of the demand, but it was
greatly accelerated by the determination of parties
at borne to make timely provision for any emer-
gency that may arise. As we have already stated,
this is the inevitable incident of a metallic cur-
rency possessing intrinsic value to the full
nominal amount. We are told that self-
preservation is the first law of nature, and
we can scarcely feel surprised if every man looks
to his own private and personal interests rather
than to the general good of the community. It
is like the rush of creditors of the Tipperary Bank
to obtain a priority for themselves, careless of
the
damage thereby inflicted on all their fellow-
sufferers.

The two evils to be averted, then, are, first,
the foreign drain, and secondly, the hoardin.,
system ; and the same remedy will apply in both
instances, viz., to deprive the circulating medium
necessary for the domestic and every day transac-
tions of the country of intrinsic value. There
-will be no desire to export or hoard national
notes, which would be comparatively " worthless
rags" to the foreigner, save so far as they
"lid purchase specie, but which would be
really valuable to every citizsn, inasmuch as they
would be based on the national taxation, and
would satisfy the
demands of the taxgatherer, and
maid therefore be
acceptable to every person who
had to answer his application.

The Times itself, the recognised organ of the
bullionists, hasacknowledged the efficacy
of such a
note for domestic purposes. On the 26th Octo-
ber, 1855, it said, " Supposing this circulation
to be required solely for internal commerce, no
necessity could exist for gold being held against
any portion of it. A deposit of Government stock,
or the fact of its being receivable for duties, would at
all times keep it from fluctuation in value r 7
Even this very day the Leviathan follows
on the same tack. It says, " A suspension of
specie payments, especially when brought
about by an internal panic, does not necessarily
involve any great disturbance or disaster. When
Pea Age are rushing for gold, merely for hoarding,

commerce suffers no injury by their not being able
to get it !" This would unquestionably be th%
case when really national notes of convenient
denominations were in circulation, and when the
suspension was not eau ed by pecuniary pressure or
embarrassment. When that, however, is the case, the
result will necessarily be very different. The inconver-
tible paper currency will be looked on with distrust
if the normal condition is that it only appears
when the Bank is unable to pay cash. But when
it is made the State currency—the only mode of
satisfying the claims of the tax , gatherer—when
it is more likely to be at a premium, the result
will be very different. Then it will be eagerly
sought after, and the wisdom and propriety of the
change will be universally recognised.
This ought to be done both in France and
England without a moment's unnecessary delay.
Gold and silver should be made merely articles of
merchandise, and dealt with as such. When there
was a great demand, the price would naturally
rise—but in so doing there would be no disturb-
ance of the home market—nothing to diminish
the employment of the people, or to convert
those who ought to be the creators and con-
sumers of national wealth into unprofitable pro-
ducers. The foreign merchant would have no
cause to complain ; he would only have to enter
into a closer calculation, introducing an additional
element, viz., the price of gold, into the account ;
while for the inhabitants of the country they
would secure that greatest of blessings, a circu-
lation adequate to their wants and exigencies, and
free from the fluctuations which have caused more
ruin and suffering than the failure of all the banks
of issue that have stopped payment from their
foundation to the present time.

October, 1856—observe the early autumn
of the Year of the Peace (so called)—brings to us
the following, among various other similar, frag-
ments of intelligence, expressive of the profound-
ness of the European tranquillity :
The political embarrassments of the Porte are
increasing.

The truce is to expire on the 12th inst. between
Turkey and Montenegro.
There is a rise in the price of wheat, in conse-
quence of a scarcity of that article, at Constan-
tinople.

The influence of Lord STRATFORD DE REDCLIFFE
prevails there one day—another that of M. "VON
PROKESCH—another that of M. DE TIIOUVENEL.

The King of NAPLES persists in his refusal of
the Anglo-French ultimatum.
It is reported at Naples (where all is agitation
and uncertainty) that his MAJESTY is supported by
Russia, Austria, and Prussia.
The Ministerial Crisis has but just ended (for
the time being) at Copenhagen.
The Spanish Dictator O'DONNELL is showing
the greatest energy in regard to the affair of
Mexico.

The Portuguese SOVEREIGN has just decorated
one of the most conspicuous of the political oppo-
nents of this same Soldier of Fortune now holding
with a stern and vigorous, grasp the reins of the
neighbouring Government.
A hundred persons were arrested on the night
of the 2d instant at Paris, in the Rue Mouffetard,
and in the other streets of the 12th arrondissement
—these parties being chargei with having posted
placards of a menacing charae,er, demanding
" Bread or —."

The Viennese journalists ara commenting just
now in eulogistic terms upon the " proud self-
confidence of the Russian Circular lately addressed
to the diplomatic agents of the CZAR. by Prince
G ORTSCHA KOFF.

Together with other, the like, pacific morsels
of information crowding in upon us from the dif-
ferent capitals of the European Continent.
And let it be here briefly remarked that we
have not been going out of our path to rake to-
gether from out-of-the-way corners and from a
variety of scattered and incongruous authorities
facts like the foregoing—simply with a perverse
view to further the purpose of some eccentric ar-
gument. Nothing of the kind. Every individual
circumstance above enumerated may be found com-
prised in our single impression of Monday evening
—sprinkled hap-hazard up and down our columns
—under the different headings of our Foreign In-
telligence. Marseilles, Vienna, Naples, Berlin,
Copenhagen, Paris, Lisbon, Constantinople—all
telling the same dismal talk about " Peace, Peace,
where there is no Peace "—in that single impres-
sion of our journal of the sixth of this present
October. •

So much for the vaunted tranquilisation of
Europe by the Paris Plenipotentiaries ! So much
for the happy influence even during the year of
grace 1856, of the ever-despicable and disgraceful
compromise with the Russian Government.
As a worthy pendant to that atrocious com-
promise came forth, only the other day,
the insolent and arrogant Manifesto issued
it the name of the CZAR by the Prinie
GORTSCHAKOFF• A Manifesto more haughty and
overbearing in tone than the most haughty and
overbearing of those audacious documents given
to the world from time to time during the late
war, in the name of the same SOVEREIGN, or of
his immediate predecessor, authenticated by the
signature of the Muscovite Prime Minister, the
Count NESSELRODE. For that dictatorial an-
nouncement of the policy of the Czar ALEXANDER
we are indebted to the authors of the Paris Con-
ference—to the Count WALEWSKI especially, and
the Earl of CLARENDON, as the chief representa-
tives of the allied French and English Govern-
ments. To those Governments in particular we
owe the discreditable remembrance of the hurried
close of the war—a Gallic Government presided
over by a NAPOLEON—a British Government di-
rected
by a PALMERSTON. Governments vieing
with each other in complimentary concessions to
the wanton violation of the Peace of Europe—
that Muscovite despotism which, unscathed, and
in all its pristine puissance, has been permitted
to rear its crest of pride once more threateningly
over the other powers of Christendom. An arch
crime this, to the interests of Justice, of Humanity,
and of Civilisation, such as cannot fail, in GOD'S
good time, to be very awfully avenged.

The Neapolitan affair has dwindled into but
sorry dimensions. It may seriously be questioned
whether, unless the occupation of Galatz lead to
a new European rupture, as is not unlikely, an
allied fleet, or any fleet at all, will drop anchor,
by way of demonstration, in the Bay of Naples.
Not lightly must " the Loin's," or, to eschew
blasphemy, " the DEVIL'S, anointed " be meddled
with.

The King of NAPLES, we are told, has despatched
a letter in his own handwriting to her MAJESTY
and the Emperor NAPOLEON, graciously signifying
his intention to send a representative to the Paris
Congress, and to communicate his intentions re-
specting organic reforms and an amnesty. The
presumption, therefore, taking other circumstances
into account, is his apparent concession will be
and his MAJESTY will be corn-
accepted as a boon,
Plimented on his decision. The Neapolitan ques-
tion will then in due time be brought before the
Congress,
and what his MAJESTY expresses his
willingness to concede will be pronounced worthy

of acceptance, and, some idle guarantee being re-
corded, the annoying affair will be described as
settled and the peace of Europe secured. On this
will follow an amnesty, excluding most of those
the amnesty really required would include, the
initiation of one or more of the reforms
promised, and a gradual if not precipitate
return to the old state of things. Once more
th 572 in cry of some wretched prisoner will pierce
the thick bars of his dungeon, and, reaching the
ear of Europe, will set her diplomatist's wits to
work to prove that all that was best and wisest
was done for Naples at the Congress. Once more
the paid spy will pursue his avocation in broad
noon, and testify to the truth of his villanous
inventions in open court. Once more the air will
be thick with apprehension, every man will doubt
his neighbour, and the dungeon will close in the
evening over the guiltless head that drooped to
hail the beams of the morning. Once more in-
sult and brutal assault in the street will be fol-
lowed by fetters and the bastinado in the prison.
Once more the executioner will end what the spy
began, and all the machinery of law will be in
requisition. A rising of the Italian people may
prevent this ; but else, judging from the past, who
will dare to predicate any better result from the
action of the Congress ?

We are perfectly aware of the presence of a
British fleet within no great distanoe of the scene
of tyranny and misrule. We are not to be
told of the designation of a French
fleet for Naples. Nor are we ignorant of
there being a talk of energetic and combined
action being resolved on. Our mind is made up
as to the least that should be done. Nevertheless,
the conviction that the Neapolitans. are meant
to be sold weighs heavily upon us. Whatever
were the original intentions of France and Eng-
land, and the public have been cruelly mystified
respecting them, there can be little doubt the
Rissian Circular has not been without its effect.
Had the two Governments been in earnest the
publication of that circular would have been im-
mediately followed by the despatch of the fleets.
As a matter of selfish policy, so haughty a re-
script from a power they affected to have hum-
bled, as well as beaten, should have been
thus answered. Instead of which, the aim of
Russia to pass for the arbiter of Europe, even at
the conclusion of an exhaustive war, is so far
accomplished. Talk of Western diplomacy ;
it is imbecility compared with the state.
craft of Russia. For want of Western wit—
Russia is never beaten, and, whatever she may
lose, always wins. The financial crisis in France
will doubtless be adduced by way of apology for
inaction, on the principle that a bad excuse is
better than none. The real truth seems, however,
to be simply this : an apprehension by our ally
of more danger to despotism from one despot
going to loggerheads with another than from the
rising of an oppressed people ; and our Govern-
ment is so involved with despots as to feel de-
prived of its free action. It is really time the
British public should speak out. The most serious
interests of the country are sacrificed by a hesi-
tating policy—all flames and thunder one day, and
stagnant as bilgewater the next. Does the Govern-
ment share the opinions of the Emperor ALEX-
ANDER, that despots have aright to interfere in aid of
despots against their subjects, while no Government
can possibly possess a right to aid subjects against
their despots, however grievously such subjects
may be oppressed ? Or does it believe that inter-
vention for the relief of oppressed humanity, or
intervention for the preservation of European
tranquillity, either or both, is a duty, and, as
such, should be discharged promptly and effectu-
ally ? There ought to be no doubt on this head ;
but there is abundant reason for doubt—a state
of things that should not be suffered to continue.
The occupation of Calatz, it is to be hoped, will
force Government to speak out, and assume the
most decided action. The precise grounds of this
occupation are as yet unknown. These may be
either because of the threatened intervention
of France and England in the affairs of
Naples, or in virtue of an understanding with
the PORTE. Ia either case the step Austria has
taken is likely to lead to the gravest results. If,
on ale first groun d—we cannot see how Franco
and England can fail to take up so daring a chal-
lenge. If, on the second, the pretence is too
barefaced to be ad witted, and the act too flagitious
and daring not to demand exemplary retribution.
A continental war may therefore be looked for—
a conflict in N./hi( h elements hitherto kept back
must be expected t o participate—a war that we
trust will prove lestructive of every hollow but
oppressive sham, -and productive of lasting good
to the oppressed s rationalities of Europe.

THE COURT CIRCULAR.

BiLiNIORAL, OCT. 7.

Her Majesty the! Queen, accompanied by the Royal
Princesses and PHI ce Alfred, attended by the Ladies
and Gentlemen in V 'aiting, went yesterday to Glen Veg,
whence her Majesty and party rode to the top of Craig
Cluny.
His Royal High ess went to the Hill deer stalking.

The Royal dinne,. party included her Royal Highness
the Duchess of Ken:; her Serene Highness the Princass
Amelie of Hohenlohi 3 Schillingfurst, his Serene Highness
the Prince Victor of Hohenlohe Langenburg, Lady Au-
gusta Bruce, and Lo rd James Murray.

RETURN OF THE C OURT FROM SCOTLAND.—We learn
that the Queen, Prin ca Albert, and the rest of the Royal
Family, will leave, E .almoral on their return to London
this day week. Arri ving in E Jinburgh about six o'clock
in the evening, the 3 • will remain at Holyrood for the
night, and procee 1 southwards next morning.
Scotsman.

The Duchess of In verness has left town for Brighton,
where her grace is oc copying apartments at the Bedford
Hotel.

The Marquis and Marchioness of Abercorn have ar
rived at Brighton, I or the winter.

The Earl and Coui Itess of Shelburne and Mr. Charles
Greville have return ed to town, from visiting Viscount
and Viscountess Syd ney, at Frognall, Kent.

A letter from Ron le in the Debats states that General
de Montreal is to b. 3 replaced in his command of the
French troops in tha t capital by General de Conrtigis.

SCHOOL OF PHYSI CIN IRELAND.—Mr. Montgomery
has resigned the ch; .ir of midwifery, which he so long
and so ably filled in t he School of Physic in Ireland.
MUNIFICENT Dox ATION.—The Duke of Sutherland
has intimated his in tention to contribute 5001. to the
fund of the General 1 .ssembly of the Church of Scotland
for endowing churn hes in localities destitute of the
means of religious ini truction.
THE TRADE TO PI CILADELPHIA.—LIVERPOOL, Out. 8,
1856.—The Liverpo of and Philadelphia Steam-ship
Company's screw ate; imer City of Baltimore, Captain R.
Leitch, sailed from tl in Mersey this afternoon for Phila•
delphia, with a full ct .rgo and 380 passengers. She also
takes out a mail.

A letter from Napli 3s says :—" Slips of earth into the
principal crater of Ve 3tlVill3 have been taking pace for
some time past. It f A feared that the entire summit of
the mountain will dis: .ppear in the open chasm. Violent
and continual reports have of late proceeded from the
volcano."
DEATH OF PAYM TEE WILLIAM BELL--Paymaster
William Ball (1813) lied at Queen's-place, Southsea, on
the sth inst. He is :s purser of the C3rdelia at Algiers ;
and of the Naiad . at the destruction of an Algerine
corvette, under th, s batteries of Bona, in 1324 ; and has
recently been emp! toyed as paymaster of the Royal yacht
Victoria and Albe

Major Nasuiyth left Kilkenny on Monday, to proceed
to the Curragh, fo r the purpose of entering on his duties
of Brigade• Major, under General Gough.

CRYSTAL PILAC. !r. —One Shilling Day, Ont. B.—Ad.
missions on payme at, 1,500; do. by season tickets, 196:
total visitors, 1,69(