The Sun.
London, England, 1857-06-01 00:00:00

never lay down moorings on the bight. Auutuer &eve
don mine, that with a motive power at each ex.rernity,
there well clearly always be two dangerous points of
greatest strain, near the ends of the laid out cablo, instead
of:one. Therefore, on the slightest pitch, the cables will-
either carry away inboard the Niagara and Agamemnon
where checked, or, at not more than from 5 to 20
fathoms astern of those vessels. Because, even supposing
it possible on the old plan, to pay out 100 miles of elec-
tric cable safely, to move the submerged portion after-
wards in a hoeizental direction would be evidently im-
` pessible, unless' the co-operating snip steaming is an
opposite direction could beedrawn astern with it—hence
a
o rr
steady resisting strain to each vessel will be constantly
maintain •d. And, as a sudden jerk of adversely exerted
force at the extremities of a bar or line al ways fractures
ca
greatest aswtraeyi eitherit
followst the oar one
that
ir
tthheeioetalletr
pitch,athet e
vpoints
of r l
in
a topgallant ertez !, of such heavy ships as the Aga-
memnon and Niagara, however slightly checked, must--
part eQ small a cable short off, or within a few fatherly!
of their sternpoets ; in which case the middle section of
the submerged oahle would be irrecoverably itnm-rsed
a centing,incy likewise certain to happen on the occur-
rence of a gale of wind, as regards a cable insufficient for
ships to ride by, that no adequate provision has been
made to,:sectire iirid which to cut; or let run out by the
bare end, eque4 invteeres the necessity of losing.
I am at any time prepared to dernenatrate by practical
experiments: the estitsAhus submitted to your cetreiders*
tion—in. the Atlentie,,as to soundings, by lowering a
gun in the niaonee deecrlbed, if allowed the opportueii;
although even deecenziing a few hundred yards in a coat-
wine proves bow rapidly lowered weights dirain fib • in.
sitiatt.,,that at or n',-.ar'oik 04kth's CektiVjbIIWOMPAI/6"
tip oredown," bodies being equally attracted in every* di.
rectien ; a law partially exerted on small portions of mat-
ter even in comparatively superficial positions, such for
instance, as a sounding lead, submerged in so dense
an element as water, to any point below (as it mai be
termed) the exterior line of the earth's general surface,
and thereby brought within the reacting upward attrac-
tive influence of its external superincumbent masses,
I must likewise set myself right as to intention.
Aware that all the appointments are filled up, and duties
assigned, I do not seek to interfere with the employment
or position of any man : and of amateur performances
I entertain the customary professional dislike. My object
in addressing you is this : If an attempt is made to lay
down your cable in the manner formerly practised it
will be lost, as would likewise be the case with a tele-
graph cable of any other size, form, or construction
(patented or not) similarly treated ; the dimensions and
powers of yours, unstretched, appearing sufficient! and
unobjectionable, tee danger being in the mode of .sub-
mersion.

I tr,?ertake to show a practical method (of my inven-
tion) by which the electric cable may be safely and cer-
tainly extended uninjured, between Ireland and Ame-
rica, or any other two even more distant points; but
I must add, that in order to make sure, about two
thirds only of the requisite expense will have been
disbursed, when the electric cablss are shippef on
board tba Niagara and Agamemnon, whilst some :little
further time wilt afterwards be required to provide the
additional necessaries. Your choice, therefore, rests
between risking the loss of the cable and incurrink the
extra first Cost (a trifle, however, when compared!with
that a miscarriage involve!) to insure its safety, speedy
adaptation to the purpose intended, and the certain;cotn-
pletion of your most important undertaking. If the
funds at present subscribed do not admit of this, rather
than lose the cable on explanation of the plan proksed
(which every practical man of common sense must then
at once see the actual necessity of adopting), there can.:

not be a doubt your shareholders and 'the public
readily supply the additional capital required.
Although you may not deem it advisable at of
entertain my propo§itioo, in averring that I fee

v;need some .such ireprOvect method will have

rould

Ice to
con-

;o be

adopted shortly, I hope you understand the great !work
contemplated carries with it my best wishes for itl3 suc-
cessful accomplishment, by any means whatsoeveri,: the
preceding experience-based prognostication origiriating
only in a conviction on my part that, with present weans

and appl.ances, the difficulties you have to eno

amount to actual physical impossibilities.
FRANCIS HIGGIN,

PROPOSED MEETING ON THE RENEWA
THE BANK CHARTER.

inter

(From the Bankers' Circular.)

OF

' The monetary reformers who have laboured; long
and hard to impress upon the public mind the in-
consistencies, the injustice, and the anomali,es, of
our monetaty system, which have arisen entirely
from the encouragement of a monopoly enjoyed by
a single Joint-Stock Company, will be glad to hear
that a meeting will be held at the London Tavern,
on Wednesday next, to take into consideration the
best means for bringing the matter before the
public. We need nut express our surprise at the
proposed step ; for we are more surprised tliat,
after the condemnation of the present system by
nearly every Chamber of Commerce in the 'United
Kingdom, no attempt has hitherto been mare to
express the views of commercial men in som con-
centrated form of action. They have stood! aloof
until there appears a storm in the horizon hich
threatens them with calamity. It is true, there
are to be found here and there a few g ntle-
men, who, Eke the honourable member for
Peterbot ough, eau see nothing but sunshine
dazzling before them : to whom trade and commerce
are represented in the most glowing terms. "iLook
at our exports," these gentlemen exclaim ; "every I
succeeding year and every month our commerce is
expanding ; look at our immense consumption of
every kind of provision, what greater proof can we
have that all goes on well ; and that the vessel of
the State is sailing onwards in safe water with a
favourable gale to assist her 1" We look to no such
facts, though true they may be, for a correct esti-
mate of our position ; and we hesitate not to say
that he who will venture to affirm that trade and
commerce are flourishing, or that the industrious
classes are in a thriving condition in this country,
knows nothing of the truth, or that he wilfully
misrepresents it : it signifies, therefore, but little
on which horn of the dilemma he is placed. "Yell,
what has all this to do with the Bank Charter ?"
some will say. "Money, Ike all other commodi-
ties, is worth what it will bring ; and they who
deal in it have a right to all they can get for its
use." This is the creed of the mere capitalist ; and
any attempt made to refute it is as useless as talk-
ing to the winds. It has become a national prin-
ciple ; and life, religion, morally, and humanity,
all sink before its unbending laws. Well, but what
has the Bank Charter to do with this ? A slight
glance at the subject will be sufficient to let in a
little light upon the matter. The people who occupy
the British islands are an industrious people ',: they
tail, when employment can be found, at every de-
scription of labour ; and the productions of their
skill aro scattered over all the known regions of the
globe. By the constancy of their energy, we are
p!aced in the possession of every article of necessity
and of luxury that the world produces ; and it is,
we believe, doubtful whether a famine has ever
existed at any time amongst such a class, without
its being the result of some interference with the
laws of nature and of justice. It only requires a
simple thought to show that under a system of iudus-
trial freedom such as this, the power of supplying the
wants of man is illimitable. Bow, then, is it,
that in such a country periodical cycles of misery,
distress, and want, are continually recurring f Let
us look a little further into this, and we shall find
that there exists an intermediate power, which is
ever at work to produce this state of things ; and
men become so accustomed to it, that they regard
it as the result of some natural law, over which
man, with all his intellectual superiority and su-
premacy, has no control. This is precisely the case
with the distress that periodically visits the indus-
trious classes of thi; country. It is not traced to
its source through the various channels in which .
is generated. It is the monopolizing character
which is found iu our money laws that
ohamsariTerr
meated into every class of society ; an
o -
fd
how great, or extensive the p rp
and such
nroduction
may be, such is the nature of these laws,
their power, that they canabsorb the industry of
nations in their grasp ; and like Alexander the
Great, regret that they have not more to consume.
It is to these laws that we must trace a famine in
1 the midst of abundance ; and a variety of disorders
that frequently occur to disorganize the commercial
and industrious classes
of the
Community. These
laws are now exercising !heir influence over the
most, wealthy and industrious classes of -this king-
dooms ; and will finally succeed in throwing thou-
sands of our most skilful artizans out of employ. ,
If we look to the manufacturing districts, what is 1
the state of things there I The mills in, and around
manaester, Nve are told are working only forty
hours per week. Do the well-to.do in life know:
what this means ? At Bradford, the rates offered
by purchasers for goods for exportation, are below
the present coat of making. At Nottingham, the
demand for hosiery for the home trade is completely
stagnant ; and " shipping orders," says the Not-
tingham Journal, are like " angels visits, and far
between." At Leicester, mills are working short
time. This is an outline of our trade in textile fa-
brics ; but the same condition is felt in almost every
other branch of industry which has not the same
means of giving it publicity. Trade circulars of
all branches continually speak of a " stagnant
i rade," because prices for manufactured goods cannot
be obtained. But why not? The whole secret of these
low prices is found in a restriction of the.circulating
medium, with an eipanded trade ; with raw mate-
rials advancing, and reduced wages vvrith dear