The Sun.
London, England, 1857-12-02 00:00:00

LONDON, WEDNESDAY, DEC. 2, 1857.

To-morrow Parliament will assemble for the
despatch of business, and the Community look
with intense anxiety to the indications that may
be afforded in the Royal Speech respecting Minis-
terial intentions for the approaching Session. One
question must necessarily take precedence of all
others. There has been a direct violation of the
law of the laud--a financial coup d'etat—the im-
perative necessity whereof was its sole justifica-
tion. We do not blame Ministers for averting a
scene of general confusion and dismay ; on the
contrary, their mistake was in the other direction.
They held out too long, and occasioned a vast
amount of distress and suffering to the commer-
cial and manufacturing interests, by their obsti.
nate adherence to an obnoxious and most lea-
politic enactment. It was only to save the Bulk
of England itself, that they at length interposed,
and that fact must be borne in mind by every
monetary reformer. If the suspension of the
restriction were at. all justifiabl,, a reLxing power
should be placed somewhere, and the supporters,
of the:A.ct of 1844 are placed in this dilemma,
that either there should be no indemnity, in which
cage the Charter would bo forfeited, or every pos-
sibility of a similar occurrence should be rendered
impossible,
.by the abrogation of the:law that .has
twice occasioned wide-spread ruin and distress ;
444 been twice suspended, on the authority of Her
MAJESTY'SMAJESTY'S Ministers, for the time being. It is
neither constitutional nor judicious to create too
many precedents for the habitual violation of- the
existing statute law by the Executive Government.
Such examples may be turned, at a future time,

to purposes not very agreeable to the free people
of this free country.

In Mr. TwELLs's brilliant oration, at East Ret•
ford, he explained, in a single sentence, the
whole question at issue between the "hard calcu-
lators" (we shall never againtermthembullionists)
and the monetary reformers. The whole tenor
of their writing—the sole principle by which they
are actuated—is, " Perish the People of Eng-
land, but let the hard calculator grasp his 15
per cent." That is the point that is now to be
decided, on which the nation should declare its
views and wishes clearly and intelligibly, and on
which the Legislature must re-echo the voice of
public opinion. It is not cheapness only that is
required. Undue cheapness may be the destruc-
tion of the productive classes, as well of the
manufacturing as of the agricultural population.
" The labourer is worthy of his hire," and he
should receive it. What he requires is the pur-
chasing power, that he should be enabled to ob-
tain that great desideratum—" a fair day's wages
for a fair day's work," so that he may procure
the absolute necessaries and the very moderate
comforts which he alone requires, and which are
suitable to his position. Cheapness is of compara-
tively trivial importance, if it is accompanied by
the absence of means to purchase goods, even at
depreciated prices. It is better to have prices
enhanced 10 per cent. with full and ample em-
ployment, than to have them reduced 20 per cent.
and be placed in the condition of an unprofitable
consumer, a miserable, pauper, dependant on the
tender mercies of the Union Workhouse t

The industrious classes produce, as Mr. TwnLLs
so clearly explained, far more than they consume,
the drones (or, as they were properly designated,
the fruges consumere nati), consume far more
than they produce. It is manifest then that the
former, that is to say, the great body of the people
—the toiling millions—.-must be benefited by
high prices rather than low. The advocates
of the Bank:Charter Act, " the hard calculators,"
look only to 15—aye, by our Lady, to 20 or 30
per cent.—the state of affairs which the Times
admitted must have arisen, but for the
suspension of the Bank Charter Act, for
which it was so exceedingly indignant. There is
not, according to the tenor of Mr. TVIELL'S
address, one word of heartfelt regret, not any re-
lenting for all the anguish and privations, the
broken fortunes and the broken hearts, which this
Bank Charter Act is at this moment causing.
There is nothing said of the distress and poverty
of the people thrown by thousands, and tens
of thousands, out of work, without any
fault of their own. No commiseration for the
working men, by whose humble firesides suffering,
poverty, destitution, and starvation, are taking up
their winter's abode. Nothing of these matters
is specified in the bond—the pound of flesh must
be given to the utmost scruple.
But how are these evils to be averted ? Simply
by the means pointed out by Mr. TWELLS, and by
a respected correspondent, whose very able
article, headed " Money is Power," will be found
in another part of our impression. We want a
large issue of paper money, receivable in payment
of taxation and of every liability, and which might
properly be termed " Exchequer notes" for ii.,
and the fractions of a pound upwards. The tax-
gatherer absorbs more than 1,200,0001. per week,
and means should be taken to keep up an equable
supply, to provide for the hebdomadal drain,
so that from 20,000,0001. to 30,000,000/.
of national small notes should always
be in circulation. This plan would. keep money
at a Mr rats,--say from 3 t-3 4 per cent—with
which industry thrive, and those who had
property, or the proceeds of accumulated labour,
would,receive just the reward of former providence on
their own part, or on that of their ancestors. The
fluctuations in the rate of interest "more disas-
trous than the failure of all the banks of issue
that ever stepped payment would be averted, and
the only discontented person would be " the hard
calculator," who could not make 25 or 30 per
cent, for his money. Let the people consider
which state of affairs is most desirable, and give
expression to the opinions which they have
arrived at after due deliberation.

The Bank Charter Act and the future Govern-
ment of India must be fully and dispassionately
discussed during the rapidly-approaching session
of Parliament. On these points Lord PALMER-
14TON has no option. There is an irresistible ne-
cessity urging him onward. But the main point
to be ascertained is, whether the anticipated Re-
form Bill is to be burked—whether the
solemn pledges given during the last session are
to be deliberately violated on frivolous pretexts.
There will be ample time between this and August
to discuss its provisions. If Lord PALIIHRSTON
cter intended to keep his word, he must at all
events, have the measure prepared. He can
explain its provisions—can state how far he will
extend the franchise—and, still more important,
what protection he is disposed to afford the voter
against undue influence. Full freedom of choice
is alsa required by the different constituencies, so
that they may be enabled to return the man whom
the 7 believe to be best calculated to represent their
wants and wishes. The privilege belongs t 3 the
constituencies, and not to the candidate or Mem-
ber, and the effect of the property qualification—
frequently as it is violated—is only to produce
class legislation. The duration of Parliaments
should also be considered, so that Right Honour-
able and Honourable Gentlemen should be com-
pelled to render accounts of their stewardships
at not too distant periods. There should also
—without demanding mathematical aLcuracy—he
some approximation to equalisation of electoral
districts, so that a few score of voters in a nomi-
nation borough, or, to use Parliamentary language,
a borough in which there is. "a prevailing influ-
ence," should not pOssess equal weight with a
constituency, where the electors were numbered by
thousands or tens of thousands. Thesa are "five
points" to which attention must be directed, and
on which there must be rectsonasle, we do not
demand extreme, concession.

The constitutional theory is, that taxation must
be accompanied by representation ; that every man
who is required to contribute to the national
exigencies shoulit have a voice, either by himself
or by some person whom he has selected to ex-
press his views and feelings. It is obvious that
this is not at present the case, and therefore au
extension—a laige extension—of the franchise
is, as we have 5t4.11,;(1, indispensable. At
present there are at least five millions of male
adults, and less than on© million of voters. One
in five is certainly too small a piripportion. We
should not have four-fifths of the people reduced
to the condition of political cyphers.
But, without protection to the voters, this
extension itould be worse than useless.!
The ballot
what
i n
can alone prevent bribery and
corruption,
intimidation.andTha
timisidateivoennassustmile many
still
worse,
Trorsne;
distinct forms. It may be impossible
to depict all its varied aspects. secrecy of 'toting
can alone ensure conscientious t" vo and that
must be secured in the only Possible way--thee
pq/10/. Without that paramount point, a Reform