The Sun.
London, England, 1857-11-26 00:00:00

A PLAN TO CHECK FUTURE PANICS.

TO THE EDITott OW THE SUN.

SlR,—Approving of the energy and ability with
which you expose the fallacy of the present exist-
ing currency laws, and the necessity of a great
alteration in the Bank Chaster, now about expiring,
I am induced to hand you the enclosed prospectus, ;
and should you find any merit therein, you are at
liberty to make what use you think proper there-
with, only to suppress my name, and of which I
send you my card and address.
25th Nov., 1857. ANTI-PANIC.

1. To prohibit the exportation of sovereigns.
2. To lay an export duty on" bullion on the following
sliding scale :
Bank rate of discount, at 5 per cent.-1 per cent. duty.
Ditto not exceeding 6 „ 1i „ IP
Ditto lo 7. PP 2 PP ft
Ditto OP 8 JP 3 ~ It
Ditto PP 9 ~ 3& ~ 91,
10 or more, 4 „
3. To meet the increased commerce since 1844, the
Government or Bank of England to issue 10 or more
millions of inconvertible paper in 2/. to 101. notes (on a
coloured paper distinguishable from existing notes), and
such new notes to be a legal tender to the extent of
100/.

4. To facilitate the introduction and issue of there
notes to the community, the Bank to charge 1 per cent.
below the minimum rate of discount.

5. To allow private and joint-stock banks to increase
their issue of notes 25 per cent. upon thoir present limi• •
tation.

THE CURRENCY.

TO THE EDITOR OF THE SUN.
Sin, —I hope the tone adopted by your great
opponent on the currency question will not have a
tendency to frighten persons, who have only a mo-
derate estimate of their abilities, from the discus,-
sion. Some of our fair country readers consider
that Lord Palmerston. and the Chancellor of the
Fxchequer must be greatly relieved from :the
fatigues of office by having the line so pl y
chalked out for them, on all public_remaattterpribtayina
journal whose profession is to lead G
at all veledinstss. Mayaidto I
be
an: trt permed
adatto t ahsek
b,
awnhke, t
thheory,
as go
breioPr
v 7
are particular from whence it comes, so that they
;et it honestly 7 I perceive that they take it when
sent from Russia, Australia, or New York ; and it
has occurred to me that, as it is stated there are
two millions and a half of people in the metropo-
lis, and no doubt thousands among them without a
shilling in their pockets, yet it is possible that, as
a whole, they may have a sovereign apiece on the
average, ;whether, if the Minister had, a month
before this panic, allowed a few millions of 11. and
21. notes to be issued, an amount of gold would
have been drawn into the Bank which would hale
met every emergency, without increasing the gen'
ral amount of issue at all.

The bullionists themselves argue that notes are
perfectly safe, if they are the representative of gold,
and surely a 1/. note is as good for one sovereign
as a 5/. note is for five.
In country districts the small paper issue even 03
private establishments is found perfectly cony&
nient. And why this absurd system of resisting a.
small paper currency, based on gold, is persistel
in, I am at a loss to discover, except it be, th"
whilst trade is free, the means of carrying it on sr°
to be limited. And on any occasion, when moue/
becomes dear there shall be a double screw power
to make it dearer, and throw the trader into 00
jaws of the capitalist! and the insured.

- I am, Sir,
Your obedient servant,
A CONSTANT READER

THE IMMIGRATION SLAVE TRADE.

TO THE EDITOR OF THE SUN.
SIR,—I am instructed by the Committee of the
British and Foreign Anti-Slavery Society to solicit
the favour of your giving publicity in your column•
to the accompanying report of the presentation to
the Earl of Clarendon, of a memorial against the
itnnaigration slava trade.—l am, Sir, Purls
obediently,
L. A. CHAMEROVZOW, Secretary.
27, New Broad-street, E.C., Nov. 25, 1857.

DEPUTATION TO THE EARL OF CLARENDON.
On Tuesday last a deputation waited upon the Earl of
Clarendon, at the Foreign-office, for the purpose of
British
and Foreign Anti-Slavery Society against the immigra-
tion slave trade now carried on by the French from the
west coast of Africa.
The memorial called the Earl of Clarendon's attention
to the address presented by a deputation from the society
to Viscount Palmerston be July last, on the oceaeios
of the attempt made by the West India body to obtain
the sanction of the Governments to a general sebum/
of immigration from t ie coast of Africa, ral dwelt upon
the evils which, as bad been predicted—had resulted
from the adoption of the scheme by the French Govern-
ment, through the agency of the Messrs. Regis and
MCo./
of Marseilles. It .is stated on the authority r:
Consul Campbell, at Lagos, that the Portuguese and
the Spaniards had greatly stimulated the trade in slavish
for they had outbidden the slaves in their demands for
socalled immigrants, and shipped large numbers of
negroes ; and, as one consequence of this demand for
men instead of commodities, the native chiefs were abar
doning legitimate commerce to turn their attention &gala
to slave-dealing. Quotations were added frogs the letters
of the Rev. H.. Townsend, Church Missionary at Abbeoe
kute, and from the Sierra Leone Advertiser, givii g epee
cial instances of the injurious opeoltion of the new'
scheme, and denouncing it as open slave trading. The
memorial concluded by expressing a hope that the
Government would adopt the promptest means of putting
an end to a new traffic in human beings, which, if not
checked at once, was likely soon to assume illimitable
proportions, with results as disastrous as any that hare
attended the prosecution of the slave-trade itself.
The Earl of CLARENDON expressed the gratification it
afforded him to re wive eo large and influential a deputa-
tion, which he could see, from the list of names handed
in, embraced delegates from all parts of the countiladeight therefore be regarded as an evidence of the l:
'n
and general interest that was felt in the question wil°,
the memorial brought under his notice. Such a dePdr
lion was very encouraging to the Government, which, e
need scarcely observe, was 'in possession of the fullet!
information on the subject of this "new systems" of
taming labour : one he did not hesitate to designate
the slave-trade, unmitigated and undisguised. The s.sib°l.'
$
r,
quest:on, however, has been submitted to the coneldee
tic n of the French Government, which he believed nAr.
not foreseen that the result of attempts to obtain
grants from Africa would be the revival of the slave-trades
and ha felt quite sure nothing was further from lb
a i,hee or the thoughts of the Emperor of the Fr%
than to re-open this execrated traffic in opposition to 1;..
policy of the leading civilised powers, and to the
known national sentiment of this country. The S:bl
could scarcely be exaggerated that must arise from
checking of the legitimate commerce which, on mate
parts of the African coast, had totally superseded
~d•
wrade in slaves, and in others was rapidly eetingonalL7
it. This was a point which bore intimately on the 01.6'.
mercial interests of this country and to the iroportends,
of which the Government was fully alive. The dePutoie
tion would be enc,,nraged to hear that the attemPts
the French agent to obtain immigrants bed been so otsP,
successful, he (Lard C atendon) thought he might I,ieje
tore to say that, even on this account, the specula:,
00
would be abandoned, at least for the present ; and,
_ot
effort should be spared the Governmeet to pre
.11. e
the renewal of a traffic between which and the al:
trade there was no appreciable difference. Se assurede
the deputation of his cordial sympathy with the le.bj_
tni;
of the. Anti-Slavery Society, and his ooncurroPc• 11A
sentiments set forth in the memorial.