The Sun.
London, England, 1850-10-22 00:00:00

SUN,

tamed by means of these protective enactments, ruHE
that the burden of the public debt could be doubled
without they themselves being the sufferers. They
erroneously supposed that they could still obtain iose
or 1 ls. per bushel for wheat, when a metallic cur-
rency had been substituted for a paper currency, a
gold pound worth 203. for a paper pound worth 133.
Their fatal mistake was speedily apparent. It was
found that neither a fixed duty nor a sliding scale,
neither an absolute monopoly nor heavy import duties
could afford adequate protection to agriculture. From
that time to the present they have maintained a hope,
less and ineffectual struggle for that which they
themselves rendered impossible ; and the Acts of
1815, 1822, Z. and 1842, succeseively failed to
produce the intended effects, because, as Sir JAMES
GRAHAM truly declared, it was " absurd to talk of
price without reference to money, and impossible to
alter the quantity of money without affecting prices."
The corn laws and the money laws were an-
tagonistic. The object of the former was to raise
prices—of the latter to prevent prices rising. And
the farmers too late discovered the potency of the
spirit they bad evoked, which eventually worked out
their own destruction, The Act of 1844 consider-
ably increased the effect of that of JBl9. The one
restored cash payments, and reejuired that all
liabilities; should be liquidated in bullion, or in notes
redeemable on demand—the other limited the quan-
tity of these notes, and created an artificial scarcity
of
bullion, by compelling the Dank of England to keep
a large stock of specie lying idle and unproductive in
its vaults, as useless for all practical purposes as if it
still remained buried in the Ural mountains or min-
gled with the sands of California.
But while the money interest thus increased their
power, and obtained more than they had contracted
for, the agriculturists were deprived of the
' fruits of their improvident bargain. The corn-laws
were abolished. Free trade in corn and in COMRIO..
dities of every deseriedon was established, while the
restrictions on money were rendered more stringent
titan ever. The contest that had been maintained
for thirty years between the manufacturers and
agriculturists_ was brought to a conclusion. Their
interests are no longer conflicting. The nation is not
MOW divided against itself, and both parties may co-
operate together in order to obtain a sufficient supply
for all, in place of struggling, like the children dee
scribed by Locxx, to procure for themselves an undue
proportion of " the scanty coverlet," which the im-
providence of the parent had alone provided. It is
incumbent upon the agriculturists, therefore, to t site
a prominot and active part in obtaining the repeal of
these Acts, as it was through their own culpable folly
that the curse was inficted on the country, through
which they are themselves suffering so severely.
Never was a legislative measure of such vast im-
portance so hastily or recklessly adopted. Parliament
was distinctly and impressively warned in 1819 of the
probable, the inevitable results, of the Bill then pend-
ing for the restoration of cash payments. The direc-
tors of the Bank of England, the merchants, bankers,
and traders of the city of London—all who were best
qualified to form an accurate judgment of its effects,
uplifted their warning voices, but in vain. No atten-
tion was paid to their remonstrances ; greater weight
was attached to the flippant assertions of the currency
quacks than to the emphatic cautions of these expe-
rienced men. Never was a prophecy more fully and
completely verified than that contained in the petition
of the merchants, bankers, and traders of the metro-
polis, presented in the House of Commons by the first
Sir ROBERT PEEL. They declared that the measure
would " tend to a forced, precipitate, and highly in-
jurious contraction of the circulating medium of the
country ;" and " that the consequences of that con-
traction would be to add to the burden of the public
debt—greatly to increase the pressure of the taxes—
to lower the value of all landed and commercial
property—seriously to affect both public and private
credit—to embarrass and reduce all the operations
of agriculture, manufactures, and commerce—and to
throw out of employment (as in the calamitous year
1816) a great proportion of the industrious and
labouring population of the community." Alas! the
truth of the prediction was but too speedily and too
painfully established to leave any doubt as to the
real cause of the distress and suffering, the riots and
disturbance that prevailed throughout the entire
country in 1819, 20, 21, and 22—the price of wheat
in the latter year being 385.1 d. per quarter, notvvith•
standing the law which was to keep it up to 80s.
What, then, do we now demand ? It will not be
sufficient to repeal the Acts of 1819 and 1844, with-
out adopting a substitute; and it is essential that
all monetary reformers should agree upon a measure
establishing a suitable and well-secured circulating
medium. Any differences in this respect would re-
tard,
if not prove absolutely fatal, to the realization
of their anxious hopes. For this purpose, we strongly
recommend the plan proposed by Mr. JOHN TAYLOR,
and advocated by the Rev. Mr. TWELLS, Mr. JONA-
THAN DUNCAN, and many other enthusiastic and de-
voted currency reformers. The " commercial money"
suggested by Mr. DUNcAN would be found a valuable
adjunct. As we are always desirous of rendering
honour where honour is due, we wish to mention
that in a very able pamplet,* published in 1847, Mr.
THOMAS BANISTER, of the Inner Temple, proposed
" that Government should issue paper, confined to
the extent of our taxation, which should be
taken for taxes, and in every transaction, and paid for
salaries in common with the metal coin." This little
brochure will be found well worthy of attention, re-
:erring, as it does, to our colonies, our trade, our cir-
culating medium, and our railways. It has, we
believe, already passed through several editions, and
we trust that the talented author will speedily give
an enlarged edition to the public. Under the present
circumstances of the country, we cannot dispense
with the services of so efficient a collaborateur as Mr.
BANISTER.

* " Memoranda relating to the Present Crisis as re-
gards our Colonies, our Trade, our Circulating Medium,
and Bailways." By Thomas, Banister, Etq. London :
John Olivier, 1847.

STRIKE OF THE SMITHS AT THE EXHIBITION,
HYDE PART.—This morning, at eight o'clock, a number cf
the smiths employed on the building for the Exhibition in
Hyde Park struck for an advance of wages from 4s. to ss.
per day. Fresh hands were taken on, and there was an at-
tempt made to intimidate them, but the police soon restored
order.

THE LATE SIR WILLIAM H. FREMANTLE, G.C.H.
—The Right Hon. Sir William Henry Fremantle, G.C.H.,
whose decease took place at his seat, Holly-grove, in Wind-
sor Park, on the 19th instant, was the youngest son of John
Fremantle, Esq., of Aston Abbots, in the county of Bucking-
ham, and was born on the 28th of December, 1766. Sir
William entered the army early in life, and attained the rank
of captain of infantry.
ROYAL MARINES.—WOOLWICH, OCT. 21.—Cap-
tain Mitchell, Lieutenant and Quartermaster Dyer, and
Second Lieutenant Evans joined on Friday last from Admi-
ralty leave. First Lieutenant Clavell has an additional
month's leave of absence. Three drummers proceeded this
morning to join the recruiting stations at Woburn, Warwick,
and Chipping Norton.

The following letter has been addressed to us in
the matter of the Joint-Stock Companies Winding-up Acts
1848 and 1849, and of the Vale of Neath and South Wales
Brewery Joint-Stock Company :—"Sir,—l beg to inform you
that the statement contained in your paper that the liabili-
ties of this company
.amount to 120,000/, is entirely without
foundation —I am, Sir, your obedient servant, H. NORRIS,
official manager to the above company."

LIVERPOOL, liloNDAy.—The Bishop of Toronto
sailed for Halifax, on Saturday, in the Royal Mail Steam-
ship Canada.
RAILWAY AND OMNIBUS REVENUES.—It Will
scarcely be credited that the threepenny fares of the Bays-
water omnibuses produce a larger mileage revenue than the
London and North-Western Railway. Yet such is the fact.
A few figures will explain it. There are 41 omnibuses on the
Bayswater-road. Their average receipt is 21. 103. each per
day. That amounts to about 7171. per week from the 41
' omnibuses. As the length of the road which they traverse is
about seven miles, this makes a mileage receipt of about 102/.
—a receipt which the London and North-Western Railway
does not average. It should be remembered that we only
take into account the traffic on the road from the Bayswater
omnibuses alone. If we took into account what all the other
omnibuses which travel on the same road produced, the re-
ceipt would be infinitely higher.—Hereputh's Journal.
THE HUNGARIAN HEROINE, THE BARONESS VON
BECK.— This courageous lady, who was employed in some of
the most perilous secret missions between the commanders of
the Hungarian army, during their late heroic struggle to
preserve their independence, arrived a few months ago in
England, and has been ever since occupied, almost exclu-
sively, in writing a narrative of her adventures, and sketches
of many of the distinguished characters with whom she
came in contact. The Countess lost her husband at the bar-
ricades at Vienna, where he was slain by a cannon ball. As
another instance of female heroism and fortitude, the Ba-
roness Von Beck's vivid impressions of the strange and ro-
mantic scenes through which she passed cannot fail to be
welcomed with deep interest. This work will be published
immediately.

Art rejoices in her own labours, because the ener-
getic mind requires exercise; and such works are the reflec-.
tions of its thoughts, its capabilities, and its virtues. —.Eliza
Cook's Journal.

The accounts of the state of trade in the provinces
during the past week show continued steadiness in all depart-
ments of business.

We have received the Paris journals of yesterday.
The Patrie continues its marvellous revelations on
the subject of the great Socialist conspiracy which
has been smelt out by the susceptible nose of M.
AMEDEE DE CESENA• These conspirators are terrible
fellows, and according to M. AMEDEE DE CESENA are
as clever as they are terrible, for says this Sir Oracle
of La Patrie— . _ _

" We have not yet declared with what art they
conceal their designs of declaring war against all the
monarchies of the earthy nor by what cunning joining
an infernal hypocrisy to a profound perversity they
endeavour to enroll in their ranks ambitious and
credulonG young men, by disguising themselves alter-
nately under a Legitimatiat and Qrleanist mask."
The idea of the Legitimatists and Orleanists

01/44,,•Irninded men as they are known to be, from
um. I3EnavEii, ri):iiaßs; and ODILON BARROT down-
wards) being the dupes of the 6oeialists, led on by
PIERRE LouERX and PRoPDEON, is certainly exces-
sively rich. The above quoted passage, however, should
ant as a warning to the Legitimatists and Orleanists.
They have for the last eighteen months brought the
accusation of Socialism against every one who was
not a Monarchist, and have ferociously hunted down
men a, Socialists who were even more strongly op-
posed to Socialist doctrines than were the Monar-
chists themselves; now,
" Even-handed justies
Commends the ingredient of the poisoned chalice
r;; *Or own lips;"
hetaaligeauhipsotn
and the organ Of the .glys(...e denounces as Socialists
onfoundation,
Tyg
all who are not Bonapartists. Perchance before Christ-
mas Fibnmy see MM.BERRTER and ODILON BARROT
upr.ecLisEeDlyßuthße
osLaLmise,chaanrdgews
itahs
di thoseruiit eehne ab
s goodutrii
o fpniteur announces that the Attorney-Gene-
ral has commenced a prosecution against the director
of Za iliode, and against M. DE BESSELIEVRE, who
signed an article containin3 an offence against the
PRESIDENT of the Republic.
All the Legitimatist journals are now under pro-
secution or have been so since the commencement of the
present month. This fact tends to show that the
paragraph Patric to which we have alluded,
was
writte in the
" with a purpose." it wits in precisely
tl
this manner that, at the time the expedition was
sent to Rome, the reactionary conspirators conducted
the plot for the ruin of LEDRU ROLLIN and his party.
They first of ail endeayogred to confound him and
the section of Republicans with which hp was con-
nected with the Socialists and Communists, even as
now they are endeavouring to do with regard tp the
Legitimatists; they then accumulated prosecutions on
all the journals of that party, even as they are now
doing On the LegitimatistTjoutnats ; and if they do not
" play the play out" it will not be for want of will.
it was rurnoiwed that general p'l-lAlyrrop'{,. liaid
tendered his resignation to fhe'raEsipENT.
5:11P 7'pulonnais of the 17th says—
" Strang del;achments 0f the Pg* and Odd Regiments
of the Line, amounting in all to 1,000 men, 1.1 ere em-
barked yesterday and to-day on board the steam-frigate
Sao and the steam-corvette Veloce, for Civita Vecchia.
It appears that the reinforcements sent to the French
army in the Roman States amount to nearly 5,000
men, A quantity of ammunition was also sent by the
Sati,
The municipal elections of Bayonne have been an-
nulled, in consequence of not having taken place in
conformity with the electoral law of the 31st of
May last.
PARIS BOURSE, OCT. 21.—Latest Prices.—Five per
Cents., 931. 50c. ; Three per Cents., 57f. 95c. ; atnk
Actions, 2,3001.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, OCT. 21.
Boulogne and Amiens, 8% —Central of France (Orleans
and Vierzon), 1414—East Indian, 9%—Namur and Liege,
714—Northern of France, 14%—Paris and Rouen, 2414—
Paris and Strasburg, 7i.