The Sun.
London, England, 1844-02-01 00:00:00

of Orangemen in office, and the evident determination
of certain parties, by foul or fair means, to obtain a
verdict against Mr. O'CoNNzkr., are nothing com-
pared with the outrageous, and the hitherto un-
exampled, conduct of the first law officer of the
Crown, in challenging a brother advocate in the midst
of the proceedings to. fight • a duel. Why is he not
put into Bedlam at once?' Why is the representative
of even-handed justice—the guardian of the
law.; the man that evil-doers should look

Mr. MOORE suggested that as all must regret that
such an occurrence had taken place, an opportunity
should be given to both parties to become reconciled
with each other by a mutual explanation.

The gold coin of the United Kingdom I take at
33,000,0001., and as 8,300,000/. were held by the
banks against their issues, there remains 24,700,0001.
to add to the 55,000,0001. of paper; thus making the
entire amount of the currency 79,700,0001.," or some-
where about 31. a head for the population, - and
leaving nearly six-sevenths of the annual pro-
duce of the country, to say nothing of the accumu-
lated stocks of indestructible goods unrepresented by
any medium of value whatever. Need there be any
wonder at the cry that money is hard to come at ?
Yet Mr. HUBBARD says that a metallic currency is
the only sound medium of exchange, and that gold is
valuable only from its limited supply; meaning, we
presume, a small supply. A sounder authority gives
a somewhat different account, and more explicitly
developes the mischievous working of Mr. litrunann's
notions—he gives the, following statement. It is
made up from averages of six years at least, in order
that the erroneous representations which the accounts
of one year would give might not mislead, and he
commences with the six years just prior to the
p.i.ssing of the Bill for the resumption of cash pay-
ments

The CHIEF JUSTICE thanked Mr. MOORE for his
suggestion, and stated that the Court felt it=elf in a
very embarrassing situation ; and that the Attorney-
General was the last man that ought to have allowed
himself to be betrayed into any such expression as
that now declared to the Cout.
The ATTORNEY-GENERAL said that now he would
not impose any condition respecting the withdrawal
of the expressions which had hurt him.
Mr. FITZGIBBON declared that he had never meant
to impute anything tike improper motives to the At-
torney-General in the conduct of the trials, hut
that he felt he did not exceed his duty in canvassing
his conduct as a public man.
After some further observations from the mutual
friends of both learned gentlemen,
Mr. FITZGIBBON resumed his address to the Court,
which rose at a quarter to five.
There is one circumstance that rendered the send-
ing the challenge at such a time and in such a manner
especially blameable. The lady of Mr. FITZGIBBON
and her child were sitting at the table nearly by the
side of Mr. FITZGIBBON."

up •to with fear, and the good for pro-
tection—to be allowed to disgrace his office,

and break down a prosecution, which, if it had
been the most just and imperative, could not have

withstood such unmeasured folly for two days?
Talk of the wild Irish ! Talk rather of the mild

Saxon ; for in the whole course of the proceedings,
rashness, and bigotry, and violence, and the worst
passiOns, have all been displayed on one side, and that
is the side of the Crown. It is impossible to form a
greater contrast than that between the prosecu-
tors and the traversers. The latter have, in every
respect, conducted themselves according to the
strictest forms of law, and the most fastidious cour-
tesy towards the Bench and the law officers of the
Crown; yet, because one of the counsel in the course
of his address to the jury tells the Attorney-Gene-
ral some plain truths, that legal functionary
flies into a passion, and insults the Court, the de-
fendants, and his country, by an appeal to arms. " if
these things are done in the green tree, what will be
done in the dry ?" If such opprobrious acts are
committed in open Court, what may be committed
behind the scenes ? If a list of forty-eight jurors is
stolen, who will now be accused as the culprit? If

1814 to 1819 (both inclusive.)
X11,11'5,000
Amount of population

Average bills of exchange in circulation at one
time, calculated from the amount of duty re-, •
ceived by the Stamp-office, according to Mar-
shall's tables .......................................
... £143,000.000
Bank of England notes .............................. 17,500,000
Country bank notes .................................... 18,000,000

" What constitutes the peculiar fitness of gold to
perform the office of money ?" asks Mr. GELLIDRAND
Hunnmin. " Its limited supply," he answers, and
continues, "If it could be made as plentiful as brass
it would no longer be used as money. Supposing
that brass counters, struck at Birmingham, were per-
mitted to pass upon an equality with sovereigns,
would not the entire currency be depreciated ?"
Some men are born to greatness, some achieve great-
ness, and some have greatness thrust upon them.
The last we conceive must have been the misfortune
that has befallen Mr. HUBBARD—for misfortune it
certainly is, when a man finds himself in a position
`Or which he is evidently unfit. We are inclined to
be very tender with Mr. lIUBBARD, for we entertain
no doubt, as we have before observed, that right feel-
ing directed a wrong head. But really, when the
happiness, orgthe misery of millions is placed upon a
tut ning point by a fallacious theory, it is no joke, and if
ever we met with bottled nitrogen in print it is to be
found in the.. inference which our quotation would SP
palpably induce. It is true, there is at first sight
nothing perceptible to the eye. It seems nothing but
a bottle of smoke ; and, with a slight alteration we
might apply a hacknied quotation to it, and say that
it is—

X 178,500,900

Average circulating medium, per individual ... £ Pi 0 0
Then, taking the above average as a basis, he goes
on to ascertain what the circulation ought to have
been, only to keep pace with the population, and
what it really has been, and then exhibits the defi-
ciency sustained by the country, leaving his readers
to conceive the dreadful misery that must have been
experienced, whilst this crushing process was going,
or rather, we should say, is going on :

an Attorney-General can openly set the law of his
country at defiance, while conducting a solemn in-
vestigation, what may be done by himself and his
underlings in secret ? The impartial public, nay,
even those that are 'not - al ways impar-
tial, will view such a scene with ab-
solute horror, and ask what chance any
man. has for justice under such a system ? If Air.
O'CoNN ELL is guilty of the charges brought against
him of which we believe him entirety innocent), he
has "The d—l's luck" in being blessed with such a

1820 to 1825 (both inclusive)
Average population

prosecutor. No one cares what Mr. SMITH now
says or does. Ile has put himself out of the pale of
civilised society, and the sooner these trials are
brought to a close, by an acquittal, the better for the
Crown, the Government, and the country.

The Irish State trials were resumed on Tuesday, when
Mr. FITZGIBBON commenced his address, as Counsel
for Dr. GRAY. He said that the doctrine of con-
spiracy, as laid down by the Attorney-General, was,
that it was a combination of two or more persons to do
an illegal act, or to do a lawful act through unlawful
means.• He denied the correctness of the doctrine.
That proposition had been laid down by Lord DEN-
EA, in a case which occurred in 1832, and had been
i cpeated by the same Learned Lord in a case in 1834.
But it was a mere dictum and not a decision; and in
1839,w ben it was cited before Lord DENMAN hirnself, his
Lordship said he did not think it a correct proposition,
In the case of the King v. Forbes, better known as
the bottle riot case, Chief Justice BtJSHE had laid
down a similar doctrine to that of Lord DENMAN,
and it was to be found in East's Pleas
of the Crown. But however good a
text-writer EAST was, he denied that the was
to be considered a good legal authOrity.
They had looked in Coxp, and all the old atitlio-:
rities on the subject, without being able to dis-
cover any such doctrine. With respect
to the two cases cited by the Attorney-General in
support of the doctrine above quoted—viz., the King
I, Watson, Howel's State Trials, vol. 22,
and the case of the King v. Murphy, Bth
Carrington and Payne, in which latter case
Mr. Justice COLERIDGE had laid down the doctrine
of conspiracy adopted by the Attorney-Gene-
ral, he submitted that they did not apply in.the
present instance at all. The former case was one•of
high treason, and could not be cited as similar to
the present, which was one of misdemeanour, and
therefore Mr. ,Justice BAYLEY'S decision on it must
not be considered valid. In the case of the
King a. Murphy, though the doctrine laid
down by the Attorney-General was applicable
to the facts there, it was by no means so to the fact:
in the present case. The Learned Gentleman de-
nied that there was any case of conspi-
racy established. The people were peaceable
and, orderly. They were not drilled, and ordered
to advance and retire, as they were in Eng
kind. The people met in large numbers, but
it was by such means that redress of grievances was
always obtained. The Learned Gentleman then re-
ferred to the means adopted by the 'nailed Barons of
England when the great charter of England's liberties
was wrested from King JOHN, and to the attitude
assumed by the people at the time of the Clare
ek.ction. He afterwards commented, in very strong
language, on the conduct of the Attorney-General,
with regard to the prosecutions. He did not
object to his doing his duty, but he ought
to do so in a manly and straightforward manner, and
not state the law incorrectly to obtain the conviction
of a brother barrister, who had been an ornament to
his profession for many years. He concurred with
the Attorney-General that this was a mo-
mentous case—momentous to the Attorney-General,
and the party with which he was connected. It
would afford that party a scourge to repress
the people from giving expression to
their feelings and opinions, but he trusted
the Court and jury would interpose to pre-
vent them from obtaining that power. The
juries of England had always saved the liberties
of the people when they were sought to be
crushed by charges like the present. The last ease
of this kind was the charge of constructive
treason brought against TOOKE and HARDY, but an
English jury three times brought in a verdict of not
guilty.
Our Dublin Correspondent gives the result of the
day's proceedings in these words :
"One of the most extraordinary scenes that perhaps
ever took place in a court of justice, was enacted this
afternoon in the Court of Queen's Bench, between the
Attorney-General and Mr. FITZGIBBON. It would
seem that the good old practice, so peculiarly Irish, of
settling all matters in dispute by an appeal to
the pistol i•, in these degenerate days, becoming so
Wien into disuse, that, to sustain the character of the
law, even the law-officers of the Crown, and that too
in open Court, call out "Any money for a duel !"
During the progress of Mr. FITZGIBBO?i'S speech
this day, the Court and Jury retired as usual
about two o'clock, for refreshment. During their
absence the Attorney-General was observed
to convey a Rote to Mr. FITZGIBBON, which
he had been writing in Court. On the return
of their Lordships, Mr. FITZGIBBON applied
,to them to ascertain whether he, had,' during
the progress of his address, permitted himself
to make use of any improper expressions
personally reflecting on the conduct of the Attorney-
General, with regard to the trials. He then called
on the Attorney-General to hand up to their Lord-
ships a note which the Attorney-General had sent
over to hint.

" Vapor etprkerea nihil,"

. .
but it is vapour of so injurious a nature, that we feel
compelled, in sober sadness, to add :
" Sed•lethalis in oetenium, si pectore haustus."
Had there ever been a period in the world when
symbolic money had not been used in the change of
commodities, had commerce never been able to pro
ceed without the use of those means of representing
value, which p9ssessed no intrinsic value in them-
selves; had the attempt even ever been made to do
without.them, then would the fallacy which is here
propounded hive had some excuse to palliate that
weakness, of which wickedness is made, to apolo-
gise for the terrible mischief which its
practical operation would accomplish—an ope-
ration in the monetary world which, like
the deadly influence of wintry congelations upon
external nature, would so contract the intercourse
between nation and nation, and between man and
man as to render the satisfaction of the requirements
of our present refined and artificial state of existence
altogether impossible—would so influence the deal-
ings of men as to throw back the world centuries in
its experience, and would consign the poor to imme-
diate 'destitution and famine. If the present limited
supply of gold constitutes its peculiar fitness to per-
form the office of money, how much more fit would
it not be for that office if the supply were more
limited still, and its virtue might be increased, so that
just as labour daily increased the quantity of commo-
dities in the market, the amount of money would be
so diminished that labour would speedily find itselfin
a sate of • starvation, - from a want of the means
through which those commodities were to be pur-
chased. And we suppose the author of this won-
derful apothegm would at length so enhance the
value of his favourite gold as to cause the whole of the
value of the commodities of the world to be represented
by a. unit no larger than a mathematical point.
'I his would indeed be the acme of the gold theory,
unless he would attain the•pinnacle of perfection, by
annihilating gold altogether, 'and then, perhaps, he
might effect a great good. Truly, the sublime and
the ridiculous are, in some things, wondrously near
neighbours.

t is sometimes not a little useful, in the appre-
hension of a subject, to recur to the principles on
which it is based, and to examine the terms by which
it is expressed. Had Mr. HUBBARD taken the
trouble to inquire a little into the origin and use
of that of which he talks so much and so incor-
rectly, he would have found that the term
money itself was derived from a Latin word, signi-
fying just one of those very Birmingham tokens
which he holds in such utter contempt—a piece of
metal made into a token of authority, by the im-
press of a public stamp—just such a thing, in fact,
as, not only at Birmingham, but in almost every town in
the kingdom, purchased during the war the quantity of
goods which it was authorised to represent, just as a
one pound note in Scotland will do now. Moreover,
it may be a little news for Mr. lIUBBARD to hear—
for he seems to lack information sadly on this subject
—that this same term moneta, from which our term
of money is derived, is neither more nor less than
another form of a word, the signification of which
is "to advise," and thence by secondary inference,
and according to commercial usage "td inform," just
as a bank note, or a bill of exchange, does in the
present day.
Thus we find that money consists, in fact, of
tokens, of whatever substance, issued to represent
value, and bearing an impress of authority, which
advises or informs all men that it is receivable and
payable by the State whose impress it bears. The
whole story will be found in the excellent pamphlet,
entitled "An Essay on Money," to which we alluded
in our last, and a more clear or able exposition of a
topic it has seldom been our goodfortune tomeet with.
We should not have troubled out readers with so
much impertinence respecting the real nature and the
origin of the term money, but that we find the advo-
cates of a metallic currency make it the foundation
of their opinions, under the conception that intrinsic
value must always be given whenever commodities
change hands; and the notions of a national currency
which have now for many years prevailed, have so
led to a contraction of the medium of exchange, as to
occasion evils which, unless rectified, are likely before
long to break up the very foundations of society.
Mr. HUBBARD confines his notions of currency to
coins and bank-note•, endeavouring to enlarge what
he cannot but see is a very insufficient supply,
by taking the stock of gold dormant in
the Bank as a portion of that in general
use. But if words mean anything, the term
by which we indicate the medium of exchange im-
plies that which is constantly passing from hand to
hand. The cash in the till of a tradesman, or the
balance with the banker of the merchant,as.'well as the
working st )ck of the banker himself, are all currency;
but the 14,000,0001. now hoarded up in the vaults of
Threadneedle-street, and intended to be kept in re-
serve, is no more a portion of the circulating medium
than if it were sunk at the bottom of the Atlantic.
The retention of this amount in the hands of the
Bank not fully tends to reduce the amount of the
metallic currency, but also to impede the circulation of
another kind of currency, in the shape of bills of ex-
change, which, although held as of no account by Mr.
Hun BAIt D, yet, as representing goods sold and delivered,
are just as much a part of the whole stock of currency
as any other representatives of value whatever. With
these included in the account, the inconvenience and
national loss is bad enough, but without them the
aspect of things is terrible-indeed. It has been stated
by several authorities that the annual produce of the
country from manufactures and farming is about
470,000,0001., and we are prepared to show that this
is considerably below the real amount. To effect
the distribution of so much wealth Mr. HUBBARD
makes out there is about 79,700,000/. He says.
It appears that in the year 1838, out of 55,000,0001.
of paper money assumed to have boon necessary for ,
working the variotN banks in the United Kingdom,
about 13,000,000/. were issued upon bullion or
gold coin, the remaining 42,000,000/. being
it-tied upon some sort of 3eouritie3 bearing interest.

The ATTORNEY-GENERAL, said that if the Learned
Counsel had any motion to make on the subject he
had better state it upon affidavit.
Mr. FITZGIBBON (vehemently)—Never. And if
the Attorney-General does not hand up the note to
the Court 1 will state the substance of it. Mr. FITZ..
GIBBON then stated that the Attorney-General had sent
him a note, calling on him to retract. certain expres-
sions- which he was represented to have used in the
course of his address; and which the Attorney-
General considered as personally • reflecting on
himself, and calling on him, if he did not retract
them, to name a friend.
This statement Caused the most marked sensation,
surprise being the most prominent feature of it,
throughout the Court.
The ATTORNEY-GENERAL !aid that Mr. FITZ-
GIBBON had stated in his address to the Court, that
he waz influenced by private motives in the conduct
of the present prosecution—that he was guided
in the conduct of it by his feelings as to what effect
success or failure might have upon his political ad-
vancement, and if he withdrew the reflection thus
east upon his conduct, he would be satisfied.

THE SUN, LONDON, THURSDAY MORNING, FEBRUARY 1, 1844.

MONEY AND COMMERCIAL NEWS
CIT, EDNESAY EVENING.
The Stock Market this afternoon lW D
lea
ees off with rather a
heavy appearance, COnsols being 97i toll. Bank Stocjc did not
rally, and the New Three-and-a-Half per Cents., after reach-
inir 102, declined to 1014 4. India Stock was Int marked
277*.

The Foreign Market maintained its quiet appearance up to
the close of business. Spanish Actives were 23 ; Portuguese
. Converted, 47 ; and Colombiao, 11 ; the two latter being
rather lower. Brazilian Old Stock was -at 79. Belgian
Bonds realised 106; and Dutch Five per Cents., 101 to is
Danish were 861.
The additional transactions in Railway Shares have been
these :—Birmingham' and Derby, Thirds, were 5 ; Bristol
and Exeter, i to 1 ; Great North of England, 11 ; Brigh-
ton, 3 to 4i; and South Eastern, 14f to g, discount. Great
Western, 37 ; ditto Fifths, 73 ; South Western, 361 ; CeriV•
don, 24 to 3 ; Manchester and Leeds, 49 ditto, New, 184;
Norwich and Brandon, 2h
Rouen tad Havre; 6 ;
and York
and North Midland, New, A7' premium. Australasia Bank
Shares were 4 to 5,1 premium; and Colonial, 13! discount.
(Venni The Sun of Last Night.)
In the LlYerpoel Cotton Market yesterday the sales were
20,000 halo, including 15,000 American on speculation, and
all sorts tinder " good" were id. per lb higher than on Friday.
In Shares a fair business • was done. Eastern Counties were
104 ; Grand Junction, 232 ; Great North of England, 87 ;
Great Western, 1093; Birmingham, 243 ; Manchester and
Birmingham, 393; Manchester and Leeds, 110; Midland
'Counties, 91: Paris and Rouen, 318.
Accounts have been received from the Cape.of Good Hope
to the sth December,.and from Natal to the 19th November.
At the latter place matters remained in nearly the same. po-
sition, the farmers being dissatisfied at the uncertain state of
the tenure of the land they occupied. It was expected, how-
ever, that the return of the Commissioner, Mr. Cloete, from
his excursion to Panda, would gradually tend to allay the
feeling.
It is satisfactory to find that the parties connected with the
tobacco trade are continuing their exertions to obtain a reduc-
tion of the duty payable upon this article of import. State-
Ments, founded upon actual !facts, have long been • placed
,before the Chancellor of the Exchequer, present as well as
past, showing, beyond -all question, that the present tax
affords such Immense advantages to the • encou-
ragement of smuggling, that a reduction to a low
impost, say one shilling per pound, would, in a
very short time, yield more than the present duty.
The Chatnhers of Commerce of Liverpool, of Glas-
gow, and of other principal places in this coun-
try, have backed the dealers in the article in London
in their attempts to obtain the concession sought for, and.
from the tenor of the reply.of the Chancellor to the deputa-
tions that have 'waited upon him on this subject, we believe
we may assert with confidence, that there will be an altera-
tion in the duty imposed upon tobacco made in the coming
session, though not to the extent desired by .the trade.
As might have been expected, the information com-
municated yesterday from America of the decision of the
American Equity (a misnomer, surely) Court, by which. a
trust deed, involving large sums of money due to the Bank of
England and others, was set aside on the impudent plea of
undue preference, has created a vast deal of indignation in
commercial and moneyed circles in the City.
The Funds have been mach the same to-day, nor is ar

material alteration expected until Parliament ie-opens. The
Government broker has made no purchase to-day. Consols
for present transfer have realised 97; to 974, and for Time
about corresponding rates. Exchequer Bills are 69s- to 665.,
and India Bonds, 81s. to 83s. premium. The New Three-
and Half per Cents. are 1014 to 102, a purchase having im-
proved them. Bank Stock is down to 1954 and 1944. India
Stock is firm at 2774 to 278.
The Foreign bonds have been flat. The settlement is
going off easily. Spanish Five per Cents. are 23 to 4, and
the Three per Cents. 31a to -. Mexican are 34 to Por-
tuguese Converted realised 47/ to Dutch Two-and-a-Half
per Cents. are 1014 to A.
The Railway Shares are firm. Brighton look very buoyant,
and South Easterns have fallen back a trifle. •
MANCHESTER STOCK EXCHANGE, JAN. 30.—There is
no change to notice in our market to-day, the demand
still coutinnes good, and prices are fully supported.
Eastern Counties. New Registered, 1 ; Lancaster-and
Preston, 354 ; Manchester and Leeds, 110 ; Sheffield
and Manchester, 61 ; ' Birmingham and Gloucester,
Quarters, 16-1, ; Newcastle and Darlington Junction, 30.

CLOSING PRICES.
- . Bank Stock BRITISH FUNDS.
Ditto 6
1941 India Stock .. 0771 pm
3 r Cent.
3 per Cent. Red.
.• 981 Ditto Bonds
.81 pm
pe Con 97 Di tto Old Annuities —
sa per Cent. Red
102 L New A
5ma11.....
.. 6
pm
New 31 per Cent
New 5 per Cent.
Long Annuities to expire Ditto Ditto 500/. ...... 66 pm
Jan. 1860
Oct. 1859 - India Stock for Acct...
Jan. 1860 •• Consols for Acct. .. ••• 971
FOREIGN FUNDS.
Al.:trim 5 per cent.... !Portuguese, 5 per cent. ._llogian, 5 per cent • 106 ; Ditto, New Ditto —
flca.i I iati 80nd5.......... 79 IPrussian, 5 per cent _
6 1-MIGS Ayres 6 per cent. 'Russian, 5 per cent —
Cnilan, 6 per cent. 'Ditto, Metallic .. ••• .•-••
..Colomb:sti, 6 per cent... 11; ;Spanish, 5 per cent 23
Ditto 1824 iDitto, 3 per cent 313
Cuba Bonds, 6 per cent. 93 Ditto, Deferred.— .
Danish, 3 per 5ent....... ti,6i French, 5 per cent. ,—f. —e.
T..lr,!elz, 1825, 5 per cent. !Exchange .... —f. —c.
',lexicon, 5 per cent. ... 34 ,'French, 3 per cent. —f. —c.
Ditto, 6 per cent. 1837 ;Dutch, 2i per cent. 55
Pe?uvian, 1825,6 per ct.. . 'Ditto, 5 per cent.... 1014

SHARES.
Birmingham and Derby (100 paid) .. . 61
Ditto Thirds (20 paid)
Bristol Ind Exeter (70 paid) ... ..... . ... .. 6SI
Eastern Counties (23 paid) loi
Ditto New Shares (25 paid)
Ditto Extension (13s 4d paid)
Great North of England Railway (100 pd) 89
Great Western (75 paid) ... 12
Ditto Fifths (12 paid)
London and Brighton (50 pa d) . .
London and Blackwall (16/ 13s 44 paid)
London'and Greenwich Railway (12/15s 4dpd) 5i
London and Croydon Railway ( Trtink)
Manchester and Leeds (70 paid) ... . . ... .
Ditto New Shares (30 paid)
Ditto New Quarter Shares ( 2 paid) 9;
Narwich and Brandon (2 paid) .....
Rouen and Havre ( 6 paid) ... .
•
South Eastern and Dover (50 paid) .. 35t1
Y ork and North Midland (50 paid) -
Ditto New Shares (20 paid) 57

SPORTING INTELLIGENCE.
BETTING AT MANCHESTER.—ThESDAY.
CHESTER CUP.
1 agst Sir Robert (t) 25 to 1 agst What (t)
1 agst Cattonite 30 to 1 agst Pharaoh (t freely
.
I agst The Prior ,40 to 1 agst Young Lochin
1 agst Tacita (t) 1 var (taken freely)
1 agst Merry Andrew (t)'
_.
DERBY. • . • .
1:. 10 1 agst•Scott's lot )25 to 1 apt T'AuldSquire(off'
10 to 1 apt Col. Peel's lot 25 to 1 agst Runningßein(off`
7 to 1 apt Ugly Buck (off) 30 to 1 agst lonian (taken)
sto 2 agst Rattan (off to t) 50 to 1 apt Foig-a-Ballagh
4 to. 1 agst Leander (t freely) 50 to 1 agst Saddle Bow
-A8 to 1 agst Loadstone '5O to 1 agst Telemachus
25 to 1 agst Cockamaroo (off )1