The Sun.
London, England, 1857-09-23 00:00:00

s 5
14.0NDON WEDN'ES/AP'l

shilling" to young men, whose energies are
wanted behind a counter in displaying fancy goods
to fair customers. They will not unite them-
selves to Brown Bess for life, when their educa-
tion and capacity hold out higher prospects. But
let them see that there is a reasonable chance of
preferment, that good conduct will meet
its just rewards, and the yard measure 'will
speedily be exchanged for the musket, and we
shall find the class now ridiculed by the Times
supplying many Bayards, knights without fear
and without reproach, to the army. It is said
that "England is not a military nation." But
why 7 What is the foundation for the reproach ?
Simply because we repress the enthusiasm of the
rising generation, make the higher ranks a mat-
ter of money, and the lower a degradation. In
other nations, the middle classes are encouraged,
or compelled to enter the army ; here they are
virtually prohibited from doing so. It is kept
either for the aristocracy or the very poor, who
can content themselves with the gloomy prospects
afforded. A French soldier may hope to b 5 a
Colonel or General. The highest aspiration of an
English one is to become a Quartermaster or an
Adjutant.

The Times tells us that Exchequer Bills are no
longer a popular investment, and suggests their
total abolition—or rather, the funding of those
now in circulation. It declares that " the faci-

lities that rendered them acceptable to bankers
have been utterly eclipsed," and shows that
"the first blow was inflicted by abolishing the
regulation under which they were receiveable for
revenue payments at any ,period after three
months from their date of issue." The great blame
is, however, justly cast upon Sir CHARLES WOOD
and Mr. GLADSTONE for the depreciation of this
very valuable instrument of exchange. The Ex•
chequer Bill has, indeed, been discredited by the
experiments of incompetent or crotehetty finan-
ciers. Under judicious regulations there was no
species of security more acceptable to bankers or
capitalists generally. And why ? Simply because
they knew that they could at any time be disposed
of at par, in payment of duties or other liabilities
to the national exchequer. The privilege was
seldom, if ever, resorted to, for the power of
holding Bank-notes that carried interest made
them always quoted at premium. But when they
were reduced to a discount the great induce-
ment failed. They usei to be, and we
believe still are, the means by which the balances
of the Scotch Banks are adjusted, and thus became
a most important element in the national cur-
rency. But they are now, crede the Times, to be
withdrawn, in order to make money more scarce
and dear, and still further to enhance the rate of
interest.

In place of withdrawing Exchequer Bills, the
principle should be more fully developed. Allow
them again to be paid in for duties or any public
liabilities, and issue them for smaller and
more convenient denominations. In place of
thousands and hundreds, make them for tens
and fives—aye, for one c,r two pounds. Then
they will freely circulate from hand to hand, and
become really valuable to the community. As it
is, they are only useful to bankers or money-
dealers, but with the modification we have zug-
gested, they would be in general use, and in the
hands of every man who had a sovereign at com-
mand. It was the laziness of a former comptroller
of the Exchequer that led to the issue of large
bills, and there is nothing but the direction of the
Financial Minister required to bring about a
change that would be in every respect. beneficial—
that would create an extraordinary demand for
these securities, and enable them to circulate freely
at a reduction of at least one-thiid, if not one-

half, of the present rate of interest. We

do not expect much from Sir G. C. LEWIS, but
we trust that Mr. JAMES WILSON, the best
financier in the Ministry, will bestow on the
question tho calm and attentive consideration to
which it is fairly entitled.

COURT CIRCULAR.

BALMORA.L, SEPT. 21.

Her Majesty the gfeen, the Prince Consort, and the
Princess Royal attended Divine service at the parish
church of Crathie yesterday. Lady Church.ll, the Hon.
Fl )ra Macdonald, EArl Granville, K.G., Major-General
the Hon. C. Grey, and Colonel the Hon. C. B. Phipps
were in attendance upon her Majesty.
The service was performed by the Rev. John Stuart.

V 411 N

LATEST NEWS

Official intelligence has been received in Paris
of the acceptance by the Mexican Government of
the proffered mediation of England and France in
the quarrel between Mexico and Spain. The con-
ference for the settlement of this matter is to be
held in London. This will probably not be very
pleasing to Spain, which would fain lave had it
in Madrid. The capital of one of tin mediating
nations is manifestly the most suitably place. It
is not yet known who will be the Plenipotentiaries
appointed, but it is presumed that Savor Lafragua
will represent Mexico, he being completely au
courant of the affair, which he has followed from
the commencement. The whole personnel of the
Mexican Legation at Madlid is nov in Paris.

KOENIGSBERG, SEPT. 21.

Letters received by a commerical house in this
city from Russia state that the commission for the
emancipation of the peasants haE adopted the fol-
lowing resolutions :—" The emapipation is to take
place at three successive periods ; one to be occu-
pied with preparatory measures ; the second with
the executive measures ; and the third with the
definitive arrangements, to be confirmed by law."
In a manifesto from the Emperor, the landowners
will be invited to come to an arrangement with
their peasants relative to the emancipation of the
latter. The contracts between tha owners and the
peasants must contain these three clauses :—" 4.
The land appropriated to each peasant to be farmed
on the payment of rent must be sufficient for his
existence, and for that of his family. 2. The
peasants must undertake not to leave, at least for
the present, the-INrids they now nceupy. 3. The
payment of the tales due to Vie State must• be.
guaranteed.' The other clauses of the arrange-
ment are to be left to the free will of the contract-
ing parties."

FRANCE.

PARIS, TUESDAY.

Prince Jerome left Havre yesterday for Paris,
and arrived at the Palais Royal in the evening.
The Princess Mathilde, who had been for a day or
two or the Hotel Frascati, also took her departure
for Paris, as did the Prince and Princess Murat.
Prince Jerome is to preside over the Council of
Ministers during the Emperor's absence from
Fiance.

The Morbiteur says :—" A subscription on be-
half of the English families who are victims of the
Indian insurrection has been opened by the Prefect
of the Seine in the mairies of the arrondissements of
Paris, and of the communes of the arrondissements
of Sceaux ak Denis."

The Pays has received another of its wonderful
private communications from London, according to
which Nena Sahib has succeeded in effecting his
junction with the Oude insurgents, to whom he had
brought, reinforcements to the amount of 14,000
men.

BOURSE, Sept. 22.—The following were the las
quotations :

Cash. tr.
ti per Cents
; per Cents 66 95
_ _

End of Month.
—fr. —l.
G 6 93

Bank Shares 2,810 Credit Foncier —
Credit Mobilier 827 50 Roman
Do. Account B2O Austrian -
Belgian 4i 99,1— Spanish Threes 39
Piodmoutese (5) 9O Home Debt

RAILWAYS—YOB CASH.
tr. a. fr c
Orleans 1,355 Western -
Yorthern -
Lyons and Med 855 New Ditto -
New Ditto B4O Grand Central
Geneva -

630 Austrian Com. ...... 612

THE IMPERIAL MEETING.

A letter from Stuttgardt gives rather precise de-
tails concerning the approaching meeting of the
Emperors :—" The Emperor Napoleon is to arrive
here in the afternoon, the
,Emperor Alexander
having preceded him a little. The Emperor Na-
poleon is to occupy apartments in the King's
palace, as are also Count Wale wski and the other
personages of his Majesty's suite. The Emperor
Alexander is to lodge in the villa of the Princes
Royal, at the gates of the city, On the road to
Caustatt, and Prince Gortschakoff Minister of
Foreign Affaira of Russia, inthe 014 chateau near the
palace. The Emperor Napoleon, on the -day of
his arrival, is to dine -with.the King. The Em-
peror Alexander, on the same day, is to dine at the
villa of the Princess Royal. Tho Princess is after-
wards to give a soiree to a very small party, which
the King and the Emperor Napoleon are to attend.
It is there that the first interview of the two
Emperors will take place. If lam well in-
formed, this interview will- have no other wit-
nesses than the King and the Princess. At the
same time, Baron de Hugel, Minister of Foreign
Affairs of Wurtemberg, will give a soiree, which
will be attended by Count Walewski, Prince Gort-
schakoff, the principal personages of the Govern-
ment of Wurtemberg, the members of the diplo-
matic body, and the suites of the two Emperors.
On the 26th the King will give a grand dinner at
the Palace, at which the two Emperors, the mem-,
bars of the royal family, the Ministers of Foreign
Affairs of France and Russia, the suites of their
Majesties, the Ministers of Wurtemburg, and the
dignitaries of the Court, are to be present. Nothing
is yet decided as to the departure of the Emperor
Napoleon, but it is not thought that it will take
place before the 23:h. Notwithstanding all that
has been said, there never was seriously any ques-
tion of the Empress Eugenie coming here."

The first matter to Which the Narrarz Ministry
intends to call the attention of the Cortes is the
Budget of 1858, which is to contain several impor-
tant ameliorations.

According to a letter from Berlin, Sir Culling
Eardley, head of tho English deputies in the
Evangelical Congress, had suddenly fallen seriously

A letter from Berlin of the 19th announces
the sudden death of Duke Eugene of Wurte❑o-
berg, cousin to the King of that country. H.R.H.
was born on the Bth of January, 1788.

A letter from Berlin of the 19th says :—" Prince
Frederick William is expected hers to-morrow
from Breslaw, and is to leave a few days after for
Cobleutz with his father. He will go in December
to Loudon' and pass the Christmas holidays with
the Royal family of England. The Prince and
Princes of Prussia will go to London for New
Year's Day."

A letter from Hong Kong of the 28th July
states that the French frigate Virginie, which
carrie3 the flag of Rear-Admiral Gufrin' had
loft that place for Maniat, from whence she was
to sail for France ; the steam corvette, the Pd.-
mauguet,..aad_the gunbrAt the. Fusee, had arrived
from Singapore. The ,same letter states that the
United States corvette, the Levant, in order to
avenge the village by a gang of pirates of an Ameri-
can merchant ship, had burned down a village in
the island of Formosa, which the pirates occupied.
The letter adds that the departure of Lord Elgin
had produced a profound impression in the English
colony, and that all the English troops, with the
exception of a battAlion of marines, were about to
be sent off to Calcutta.