The Sun.
London, England, 1832-09-07 00:00:00

TO THE EDITOR OF THE TIMES.

beg the favour of you to allow me to make the
following remarks, in reply to your observations on the
political discussion which has lately taken place in " a
Mr. Beardsworth's Repository."
I have proposed to " rob" no one, and to injure no one.
I have only proposed to restore the money which gave
equal justice and equal security to both creditor and debtor
in the years 1817 and 1818, and again in the years 1823,
1824, and 1825. Do you mean to say that creditors were
lajured in those years ? I say that they were all bene-
fited, and that they would now be beneficed again by the
establishment of a just and honest money, which would
render all their bad debts good.
You say that " things have now adjusted themselves to
the transition of 1819." 1 deny this altogether. I say
that the metallic standard has not yet come into operation.
It has been suspended by the monetary relaxations which.
the Government had recourse to in 1822 and 1826, and
at this moment it is suspended like an avalanche over our
heads, by the monetary tricks and contrivances which
the Government has had recourse to during the last six
years. The whole of the contracts now existing in the
nation are contaminated by the influence of the paper sys-
tem ; they are founded in the habits and calculations to
which that system has given rise, and they are at this mo-
ment more adapted in justice and reason to the practical
value of the paper standard than they are to the practical
value of the present metallic standard. Therefore there is
no injustice, but quite the contrary, in accommodating
our money to the present existing state of our social obli-

gations.
It is true, as you observe, that the immense transactions
of the clearing-house require but little real money to dis-
charge them. But lam sure you are too well acquainted
with business not to be aware that not one of the insttu-
ments of credit can be created without the drawer having
confidence that he shall be able to raise the legal tenders in
time for its discharge ; and therefore that the very slightest
contraction or enlargement of the basis of legal tenders
must have an immense effect in contracting or expanding
the immense superstructure above it.
It is true, Sir, Air. Cobbett's plan leads to the destruc-
tion of our social system; but fearful as is this alterna-
tive, I am of opinion that it is more just and more ad-
visable than to attempt any longer to persevere in the wild
and guilty attempt to maintain a standard which is quite
certain either to be shaken off by a general revolution, or
to destroy the productive industry of the country, and re-
duce England to the social and political degradation of
Egypt and the East.
To the distress occasioned by this wild and guilty at-
tempt we owe entirely the bringing forward and the
passing of the Reform Bill ; and if we persevere in this
guilty object, you may be quite sure that the distress will
continue to increase until it eventuates in the most frightful
anarchy and revolution.
I am, Sir, yours respectfully,
Birmingham, Sept. 4. THOMAS ATTWOOD.
P. S. You speak of the late distressing fluctuations in
the circulation of Bank of England notes, as if they had
been occasioned by the paper system. The truth is, that
they have been occasioned solely by the unjust and im-
practicable attempts to restore the ancient standard of
value. At each period, in 1816, in 1819, and in 1825,
the pressure of the ast compelled the Bmk of England to
reduce its issues ; and when the general distress was thus
made insupportable, the Government at each period inter-
fered, and compelled the Bank of England to increase its
issues again. It was thus that the circulation of Bank-
notes was increased, by order of the Government, in the
autumn of 1816, in the autumn of 1822, and in the winter
if 1825. If the Government had not so acted, the pres-
sure of the standard would long since have produced a
state of universal anarchy in England. It is not right,
therefore, for you to charge upon the paper the fluctuations
and distresses which exclusively belong to the gull.

Lord KERRY, eldest son of the Marquis of
LANSDOWNE, has been canvassing Caine during the last
week, and from the result of it, he conilders himself ca-
rain of his election.