The Sun.
London, England, 1858-11-09 00:00:00

TS.

THE BANK OF ENGLAND.

For some weeks a series of attacks has been made
in the Times newspaper on the Directors of the
Bank of England for not lowering the rate of dis-
count. We are little disposed to undertake the
defence of the present directors of the Bank.
There was a time when the directors sympathised
with the people of England, and remonstrated
strongly against the insane policy of the Peel and
Overstone theorists. Of late years, however, the
directors have become decidedly bullionist in their
prejudices, and have evidently regarded the pre-
servation of their gigantic monopoly as a thing of
greater importance than the welfare of the com-
mercial and industrial classes of their fellow-coun-
trymen. ,We leave them, therefore, to fight their
own battles with their former friends and allies,
the Bullionist theorists.
It is impossible, nevertheless, not to be amused
at the arrogant and intolerant tone assumed by the
Times' writers on the subject of the Bank Manage-
ment. Peel laid it down as an essential part .of his
stphoen
sßi
ba
ys sahould u
tl
od
thebe entirely e
mr eel inetv eo df
fsrOsmtemaltlharet
the nation's currency. He told the Bank Directors
to conduct the affairs of their establishment in their
own way, assuring them that his Acts would take
Pare that the affairs of the nation were properly
provided for. It now seems that the theory of tho
Peel party, like every other principle whieh they
so presumptuously laid down, is to be falsified in
practice. The Bank is to be left to act as it pleases,
tahl we ary provided e
cis
uiroent s tohfa
Lordit pleases s
Overstone
eact n
dagrtheee
writers
ytetros
of the Times. There is apower behind the chair of
the Governor of the Bank which must not be gain-
said.

In the present instance it is not very difficult to
see to which side common sense and prudence in-
cline. The bullion in the Bank has been gradually
diminishing. By the Bank return of last week
the amount of bullion shows a decrease of .£144,084,
and the amount withdrawn since the return was
published makes it evident that the Bank has
acted with commendable caution and just discre-
tion in not hastily lowering the rates of discount.
Nothing can be more injurious than frequent and
unnecessary changes in the rate. Had the Bank,
in obedience to the commands of these self-ap-
pointed dictators, lowered the rate a few weeks
back, it appears highly probable that it would have
been found necessary to raise it again. The " hard
calculator,' of course, rejoices in these ups and
downs. They all bring grist to the mill of Usury.
But the effect produced on trade and commerce
by this system of change and uncertainty is most
injurious.
In the meanwhile we leave this pretty quarrel be-
tween the Bank and the Times as it stands. The
system is thoroughly ridiculous and rotten, and
time only is now wanting to convince every rational
man in the country that it is so. The Bnllionists
have rope enough in all conscience, and they are
certain, in the long run, to hang themselves,
Derbyshire Courier.

The Malta Times, of Oct. 26, says :—" Lieut.
Edwardof the 21st R.N.B. Fusiliers, and Mr.
G PSehaa rmw,ank.N., were taken into custody by the
police two evenings back for being drunk in the streets and
disturbing' the peace by knocking at the doors of respect-
able families. On refusing to give their names, they
were put into the lock-up, and on the following morning
appeared at the bar before the sitting magistrate, who fined
them £lss. each, and severely reprimanded them for their
I,lllbeGniin WildliCte"

THEATRE-ROYAL, DRURY-LANE.—Under
the Manage
of Miss Louisa Fyne and Mr. W.
THIS EVENING, Balfe's ROSEMiss
Harrison.
OF CAST ILLY',
Louisa Py-ne, Miss Susan Pyne, Miss M. Pre ; M
and Mr.
r. Fer-
dinand Glover,. Mr. A. St. Allyn, M Bar scot;
a
W. Harrison.

Conductor-3tr. Alfred -Mellon.
To conclude with a new Ballet Divertissement.LA FLEUR
D'A3IOUR Mesdllea. L. Itichelet, 3lorlacchi, and Pasquale.

-------
ROYAL PRINCESS'S THEATRE.
Under the Management of Mr. Charles Kean.
THIS EVENING will be presented Shakspere's rlarof
WING JOINT.
King John, Mr. C. I:ean—Constance, Mrs. C. Kean.
. Preceded by the Farce of
AWAY WITH MELANCHOLY.

--______
TTIEATRE-ROYAI„ HAYMARKET.
- • .. Lessee, Mr. J. B. Buckstone.
`PETS El-ENING will be performed (second time) THE
TALI'; OF A COAT. Mr. Charles Mathews.
After which,. THE DOWAGER. Mr. and Mrs. Charles
Mathews.
Followed by THE ETON BOY. Mr. and Mrs. Charles
Mathews, &c.
And JACK'S RETURN FROM CANTON.
Commence at 7.

ROYAL STRAND THEATRE.
Lessee and Directress, Miss Swanborough.
THIS EVENING, WOOING IN JEST AND LOVING
INEARNEST: Messrs. Selby, Parselle, and Miss Swan-
erough. •
After which THE MAID AND THE MAGPIE.
Followed by THE LAST OF THE PIGTAILS : Messrs.
C. Selby, J: Bland, J. Clarke, &c.
And THE BONNIE FISH WIFE.
Commence at 7 o'clock.

•
ASTLEY'S ROYAL AMPHITHEATRE,
Westminster-road.
Sole Lessee, Mr. William Cooke.
Astounding and Expensive Parisian Engagement.
T}WS EVENING, and during the week, will be presented
THE 'WOODMAN'S HORSE, introducing a treble company
of equestrians and the finest Stud of Horses in the worlds.
Characters by. Messrs. Holloway, W. Cooke, Anson, Franci,
Mark Howard, Anderson.
Followed" by_ the inimitable SCENES OF THE ARENA,
in which rift'. W.. Cooke, Mr. Runnels, Miss Kate Cooke, and
Madlle. Blt•nche will appear.
After which, Madame Amilie Maurice, f
backrom Pof the ,Gall make
her Terrific Ascent from the Stage to the
Mons. Mauri.le will also have the honour to introduce his
extraordinary ,D9gs.
To conclude with A MISTAKEN STORY
Dress. Circle, ; Upper Boxes, 2s. l • Galleries, 84.
Private Ilexes from £1 ls. to £2 2s. and' upwards.
Stare Manager, Mr. R. Phillips.

CANTERBURY HALL, Westminster-road.—
Prop.-tetor—C. MonToN.
The public is most ru.ipecttully informed that 'the FINE
ARTS GA t.r.F.RT, in conntetion with the above Hall, IS NOW
OPEN DAT AND.NIC4 HT, from 11 o'clock a.m. until 12
o'clock p.m. The New Grilery contains an extensive Collec-
tion of Pictures, by Andel it and Modern Masters, and Is
also
devoted to Art productiout generally. The Proprietor feels
he may confidently assert that, viewed altogether, the exist-
ing. Music Hall, the New Five Arts Gallery, and the recently
added Ante-Hall, will present an attraction which, whether
as regards the architectural beauty of the structures them-
selves,or the varied and hitherto unattempted combinations
within, will be found to be wholly without parallel in the
King-dom.. .
The MUSICAL ENTERTAINanINT commences as usual at
Seven o'clock.

THE WEATHER.—Stng OFFICE, Nov. 8.
THERMIHETER, IN THE SHADE.
60—highest since noon yesterday.
43—lowest this morning and during the night.
46—this day at noon.
BAnomETEn-30.48—a sudden rise.
Wtsr, Easterly ; fresh, with fine cold sunshiny wea.
ther—a splendid Lord Mayor's Day.

The affair of the Charles et Georges, although it
at one time presented a very untoward aspect, may
eventually lead to very benefical results. There was
no doubt that one party to the dispute had deter-
mined on carrying matters with a very high hand—

that although one of those who had very recently I
recommended that the arbitration of a friendly
state should be resorted to in every case, he had
totally repudiated any such interference, and, sub-
stituting might for right, had insisted on Portugal's
acceptance of terms 'dictated by himself—and to
which only the hopelessness of the contest that
might have ensued could have induced the Cabinet
to accede. Any intemperance on their part, or,
we may add, on that of England, might have pro-
duced very deplorable results ! We shall not at
present speculate on the possible consequences of a
difficulty with France inevitably leading to a general
European war. We shall not inquire which party
would eventually triumph, but it is not necessary to
pretend to any powers of vaticination to say that the
most successful party would have many reasons to
deplore the unfortunate collision. A hasty word,
a point of ridiculous punctilio, might have led to
the sacrifice of thousands of valuable lives and
millions of money; and that so awful a calamity has
been avoided may b 2. attributed to the judicious
temperance of the Marquis of LOELE in the first
instance, and, secondly, of Lord MALMESBURY and
his colleagues in the Government of Lord DERBY.
Had Portugal resisted the improper and unwar-
rantable demand, England must have supported
her. We could not have seen our ancient ally, one
that has been united to us by many—we do not
mean" dynastic"—ties, trampled on. If her cause
were just, and we have not the slightest doubt or
difficulty on the point, we must have supported her
against any and every opponent, and the refusal
of France to abide the decision of an arbitrator even
of her own selection, in the face of the decision
arrived at during the Parisian Conferences, would
have rendered British assistance to Portugal per-
fectly inevitable, and, as we have already said, it
would have been impossible to have predicted the
results.

The prudence of the Portuguese Government has,
however, averted these formidable perils. They
yielded to the pressure under protest, rightly con-
sidering that such a course would induce the
EMPEROR to look more closely to the nature and

character of the transaction than :anything that
they could possibly say on the subject. By so
doing they deprived him of the faintest
scintilla juris," they left him not the faintest
Fhad6w of a claim. He has made himself the
arbiter. It was virtually an appeal from Pmur
drunk to Pnxiir sober—from:an excited to a cool

man,.
Although the EMPEROR has not yielded a com-
plete amende honorable, he has made very consi-
derable 'concessions, and it is manifest that he is
thoroughly
ashamed of the transaction. lie
pretends to justify his unjustifiable proceedings
against Portugal on the ground of his
sincere devotion to the honour of the French
flag. Surely that "honour" would not be
vindicated or sustained by compelling an apology
where none was due, or by protecting those who
were really disgracing the national standard, while
they_ availed themselves of its shelter to cover
atrocities that would otherwise subject them to
severe penalties. The Emperor did not cast his
mantle over BARTHELEMY, or any other criminal
who . had offended agPinst the laws of Eng-
11',nd, on the ground that they were French
subjects ; why)
then, should he have complained
decision which declared the
forfeiture
against the
of the Charles et Georges by a competent tribunal,
and sentenced its captain to a severe, but in, his case,
comparatively lenient
we are bound to declare, a

punishment. •
But setting aside that attempt to et over a very
unjustifiable, and at the same time, a very injudi-
cious act, .we are bound to admit that the
rest of the EMPEROR'S letter, which ap-
peared in the Moniteur and also •in The San
of yesterday, is very satisfactory. It s The
to his'cousin the Prince NAPOLEON, who is Minister
of Algeria and the Colonies, and therefore boi n 1
to look to matters of this description. He declares

•
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'144451011117(:!' U°2031

THE SUN.
TUESDAY. NOVEMBER 9, 1858.