The Sun.
London, England, 1866-05-12 00:00:00

.
ROYAL ITALIAN OPERA, COVII;NT-
GARDEN.
THIS EVENING (Saturday), Meyerbeer's C ;rand
Madavne L.
Opera L'AFRWAINE. Didlle. Pauline Lucca,
Sherrington, Signor Graziani, and Signor Naudin.
Conductor—Mr. COSTA.
On this occasion the
ast Opera will commence at EIGI CT
o'clock instead of Half-p Eig ht, as on other evenings-
_

ARRANGEMENTS FOR NEXT WEEK,
In which there will be Five Performanceviz.: —On
Monday, Tuesday, Thursday, Friay, and Saturday.
--

On MONDAY nest, NORISIA. Madame Maria Vilda,
Madame, L. Sherrington, Signor Attri, and Signor Naudin.

On TUESDAY next, IL BARBIERE DI SI VIGLIA.
Mdlle. Adelina Patti, Signor Ronconi, Signor Ciampi, and
Signor Mario.

On THURSDAY next, L'AFRICAINE.

On FRIDAY next, NORDIA, and the last act of UN
BALLO IN MASCHERA. Madame Maria Vilda, Madame
L. Sherrington, Signor Attri, and Signor Naudin ; Mdlle.
Fricci and Signor Graziani.

On SATURDAY next, FAUST E MARGHERITA.
Mdlle. Pauline Lucca, Signor Graziani, M. Faure, and
Signor Mario.

On MONDAY (May 21), LA SONNAMBULA.
Amina, Mdlle. Adelina Patti.

The Box-office is open from 10 till 5. Pitt tickets, 7s. ;
amphitheatre stalls, 10s. 6d., 75., and 55.; amphitheatre,
2s. Gd.

HIGH WATER AT LONDON BRIDGE.

Tars DAY.—Morning, h. m.—Afternoon, 12h. sm.
To-ktoßsow.-Morning, 12h. 50m.—Afternoon, 12h. 55m.

•
z
icA
gitit into

LONDON, SATURDAY, MAY 12, 186 G.

The public will learn with relief and satisfaction
the suspension of the Bank Charter Act, as an-
nounced last evening by the Chancellor of the
Exchequer. 'The panic during the last two days has
been at its height, and has been felt throughout the
length and breadth of the land. It became during
a few hours impossible to speak with confidence of
the stability of any firm, and, as usual in such cases,
report and rumour not only exaggerated the evil,
but actually increased it by hints and innuendos.
The great catastrophe of Thursday was followed
yesterday by the suspension of an eminent firm,
and it was universally felt that unless some
assistance was given by the Government the state
of affairs would become very serious. The Chan-
cellor of the Exchequer has acted wisely in promptly
suspending the obnoxious Act which is the root of
all the mischief, and which, as has been amply
proved by recent experience, entirely fails to restrict
excessive speculation. We hope that this crisis
will induce Mr. GLADSTONE to give his very serious
attention to the Act of 1844. Sir ROBERT PEEL,
who altered his opinion on three of the four
cardinal points of his policy, would no doubt,
if he had lived to see the further work-
ing of the Bank Charter Act, have changed his
mind respecting the Currency Question. It is many
years since we advocated a total alteration of our
currency laws, which, as continual experience
proves, are entirely inadequate to the ever expand-
ing necessities of a great commercial nation. We
put no limit to the capabilities of our trade and the
enterprise of our commerce, why then should we
hamper them by these rigid acts, which refuse to
adapt themselves to the requirements' of business?
It is quite evident that an act which breaks down
periodically, and requires exceptional legislation,
cannot be based on sound principles, and we may
fairly ask whom it benefits except the Bank of
England ? Mr. GLADSTONE, as the most illustrious
of Sir ROBERT PEEL'S followers, would be especially
qualified for the great undertaking of reforming our
currency, and from his high reputation as a finan-
cier, his long experience at the Exchequer, and his
undoubted genius, he is in every respect the proper
person to deal with this onerous and. difficult ques-
tion. By relieving our commercial circles of this
heavy burden upon them he would achieve a last-
ing reputation, while there is no reason why he
should not secure as great a degree of stability to
an enlarged currency as at present exists with a
restricted one. No doubt any reform of
this kind would encounter a strenuous opposition
from interested parties as all reforms do, but the
effect would be the same as in the adoption of
Free Trade principles in our commerce. Every one
now admits their value, but before they were
adopted prophecies of evil were current on all sides.
Why should we not carry out those principles in our
finance which have been so wonderfully beneficial in
our commerce? If Mr. GLADSTONE, who has
• already done so much in the cause, will go yet
I further, the panic of 1866 may be the last that
will trouble us for a considerable period.

No news of a strking nature has been received
from the Continent, but there is nothing settled in
the way of maintaining peace. In Vienna it was
stated that the aspect of political affairs yesterday
was generally regarded as threatening, and that
hopes of mediation or peace are now considered
illusory. A great desire seems to prevail among the
people in favour of war, and it is proposed to form
Volunteer Corps in all parts of the country. The
Minister of War has issued orders fox provisioning
the fortified towns of Bohemia, and additions are
being madein the regiments of infantry. It is stated
by the Neue Frenadenblatt that the Prussian Note
in reply to the last communication from Aus-
tria has arrived, and that its nature is such as
to preclude all hope of a pacificatory settlement,
and is indeed calculated to cause a " complete rup-
ture" between the two Powers. Meanwhile Austria
seems likely to receive aid in various directions. It
is rumoured that Russia has intimated to the Berlin
Government that if Prussia take the initiative in
attacking Austria, the Imperial Government will
side with Austria. Whether this be true or not, it
is not likely that Russia will favour Prussia at all in
the war that seems ensuing. The fact is that the
Government of Berlin have offended all the
other Powers, and will now the
reap
consequences of its contumacy in finding itself
without allies in the moment of emergency.
There seems no doubt of France and Austria having
arrived at some understanding, and it is said that
the journey of Count MULINEN to Vienna from
Paris is in consequence of the request made to
Austria respecting the cession of Venice. If the
Government of Vienna have the sense to yield on
this point, Prussia will find herself at a complete
disadvantage.

Turn which way we will we see nothing but de-
monstrations against that arbitrary country. The
Middle States of Germany still maintain their war-
like attitude, and are evidently quite determined
not to be made the tools of Prussia as they were in
the last war. It seems a mockery in the present state
of things to find that the Berlin journals still talk
of the desire of the Government for the preservation
of peace. It is not generally the way to set about
accomplishing this object to arm oneself to the teeth
and hurl defiance right and left to all who directly
or indirectly come in contact with them. An article
in the Neue Prussiche Zeitung of yesterday states
that while they still hope for the maintenance of
peace, "prussic m .
idle it
seems ust arm for war." How very
know that tonothing
until all the
security
akweillep up this farce, when we
Others
have
we
that
have
induce Prussia to disarm
done so ; and then what
—cover that at Herr von BISMARCK will
.he is fact to face with come great