The Sun.
London, England, 1861-03-18 00:00:00

KOSSUTH NoTES.

Kossuth, it may be remembered, was Minister of
Finance in Hungary in 1849, and he is preparing,
it seems, to reoccupy his position should an oppor-
tunity offer. Now, without entering into the dis-
cussion as to whether the Emperor of Austria is
legally King of Hungary, and has therefore a right
to object, in an English court of justice, to the as-
sumption by Kossuth of the Royal arms of Hun-
gary, as an impress for his National Notes, we beg
leave to say a word or two on Kossuth's notions of
Currency. Every one knows that the state of the
finances of Austria is nearly as bad as is possible.
One of the great causes of this is the most ridicu-
lous and dishonest move made by Austria in issu-
ing inconvertible paper money, at the time of
the Italian War, which was not receivable for taxes.
The taxes were to be paid in silver. We pointed
out at the time that this was both dishonour able
and foolish. Dishonourable, because this money
forced into circulation by Government quickly de-
preciated in value, and the poor man and the trader
were robbed to the extent of the depreciation.
Foolish, because the Government by this act threw
discredit on its own notes, and diminished the capa-
bility of the people to pay taxes at the very time
when they were urgently required. The event
showed how correct this opinion was. The misery
and ruin caused in Hungary by the depreciation of
this paper currency, which depreciation amounted
to at least 30 per cent., was one of the proximate
causes of the disturbances in that. country. Now
what is the Note which Kossuth proposes to issue ?
This is a copy of it
" ONE FLORIN.
14 This monetary note will be received in every
Hungarian State and Money Office as
I, One florin in silver ; three zwanziger being one
florin ; and its whole nominal value is guaranteed
by the State.
" In the name of the nation.
"KOSSUTH Lowe."
Now we say,
without hesitation, that ifn Kossutheror
Louis had been Minister of Finance to the p
of Austria at the breaking out of the Italiana
and had issued such notes as these, Austria mightr
have found money to fight her battles, to pay her
debts, and to save Hungary from the state of
famine, distress, and ruin into which Austria's
stupid currency blunders have precipitated both
nations.
We recommend Mr. Gladstone to call upon
Kossuth Louis, and take a few lessons on the cur-
rency question from that eminent personage. Mr.
Gladstone is trying to save a paltry sum by not
raising the interest on his Exchequer Bills—which
has always been done by former Exchequers when
the rate of discount rose—and consequently he can
scarcely keep Exchequer Bills afloat. Let him
issue National paper money, after the Kossuth
model, and he will get his taxes paid, have a set-
tled rate of interest, and a prosperous country.—
Derbyshire ( ourier.

Foreign journals announce that the first volume
Of 46 Mendelssohn's Correspondence" will appear shortly,

EXPLANATION.—B. Barometer, corrected and reduced
to 32 deg at mean sea level ; each 10 feet of vertical rise
causing about 1-100th of an inch diminution, and each 10
deg above 32 deg causing nearly 3-100ths increase. E.
Exposed thermometer in shade. M. Moistened bulb (for
evaporation and dew-point). D. Direction of wind (true—
not magnetic). F. Force (1 to 12—estimated). C. Cloud
(1 to 9). I. Initials :—b , blue sky • c., clouds (detached) ;
t., fog. ; h., hail ; 1., lightning ' • 'm. misty (hazy) • 0.,
overcast (dull) ; r., rain , snow • t., thunder. A letter
repeated augments—thus, r.r., much rain. S. Sea disturb-
ance (1. to 9).