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

tained by means of these protective enactments,
that the burden of the public debt cauld be doubled
without they themselves being the sufferers. They
erroneously supposed that they could still obtain 10s.
or 11s. per bushel for wheat, when a metallic cur-
rency had been substituted for a paper currency, a
gold pound worth 20s. for a paper pound worth 13s,
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, 1828, and 1842, successively failed to
produce the intended effects, because, as Sir JAMES
Gaauam 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 rase
prices—of the latter to prevent prices rising. And
the farmers too late discovered the potency of the
spirit they had evoked, which eventually worked out
their own destruction. The Act of 1844 consider-
ably increased the effect of that of 1819. The one
restored cash pay:nents, and required 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 Bank 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 agriculturiste were deprived of the
fruits of their improvident bargain. The corn-laws
were abolished. Free trade in corn and in commo-
dities of every description was established, while the
restrictions on money were rendered more stringent
than 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
ROW 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 de
scribed by Loess, 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 take
a prominent and active part in obtaining the repeal of
these Acts, us it was through their own culpable folly
that the curse was inflicted 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, bankeree
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 " tbat the consequences of that con-
traction would be to add to the burden of the public
debt—greatly to increase the pressure of the lazes—
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 calve 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 38s. ld. per quarter, notwith.
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-
tat'd, 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. TweeLs, Mr. JONA-
THAN DUNCAN, and many other enthusiastic and de.
voted currency refer:nem The " commercial money"
suggested by ,dr. DU.NCAN would be found a valuable
adjunct. As Ise are always desirous of rendering
honour where honour is due, we wish to mention
that in a very able pamplct,* published in 1847, Mr.
Tnomas 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-
ferring, as it does, to our colonies, our trade, our cir-
culating medium, and our railways. It has, we
believe, already passed through several edidons, 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,
14,1,1 Pailwsyl." Bat)ivrr, I,,,ednr
John Olivier, 1547.

STEM!, OT TIU SMITH'S AT TEE EIT.EIEITPN,
HYDE PARX.—This morning, at eight o'clock, a nrimbfr c f
the smiths employed on the building for the Exhibition in
Hyde Palk struck for an advance of wages from 45. to ss.
per day. Fresh hands were taken on, end 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 Eight llon. 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 ofJohn
Fremantle, Esq., of Aston Abbots, in the county of Bucking-
ham, and was born on the 28th of December, 1766. Sir
William entered the misty early in life, and attained the rank
of captain of infantry.

ROYAL MARIN LS.—WOOLW rcrr, 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
1818 and 1849, and of the Vale of Neath and South Wales
Brewery Joint-Stock Company :—"Sir,— I beg to inform you
that the statement contained in your paper that the liabili-
ties of this company amount to 120,0001. is entirely without
foundation —I am, Sir, your obedient servant, H. Nounts,
official Manager to the above company."
LIVERPOOL, MoNDAY.—The Bishop of Toronto
sailed for Halifax, on Saturday, in the Royal Mail Steam-
ship Canada.
. RAILWAY AND OMNIBUS REVENUES —lt 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 2/. 10s. each per
day. That amounts to about 717/. 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 10!./.
—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 read 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.— Herepath's Journal.
THE HUNGARIAN HEROINE, THE BARONESS VON
BECK.— This courageous lady, who was employed in some of
the mast perilous secret missions between the commanders of
the Hungarian army, during their late heroic struggle to
preserve their independence, arrived a few month. 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 Yon 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
Cock's Journal.

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