The Sun.
London, England, 1845-09-04 00:00:00

21_ 1Z

-ie.
VALUABLE LEASEHOLD ESTATES for INVESTMENT,
_ _ _

PIMLICO.
MR. FULLER will SELL by AUCTION, on
WEDNESDAY, Sept. 24, at Twelve, at the Auction Mart„
by direction of the Executors of G. A. Brown, Esq., deceased,
A First-rate PUBLIC.HOUSE, known as the Crown
and Anchor, situate the corner of Ebury-street and Eccles-
ton.street, Pimlico, and wherein a most lucrative trade has
been carried on for many years ; two Shops with Dwelling-houses
adjoining, and a spacious dairy with cow-houses for 25 CONS, sta-
bling for five horses, comfortable Dwelling• house and Shop, and
large yard enclosed with gates; the whole let on lease for a term,.
which will expire at Michaelmas,lB4B, at a nominal rent of 801..
per annum, for which lease a premium of 1,400/. was paid by the
lessee, since which period the value of property in this vicinity has
materially increased, the dairy and two shops adjoining being now
underlet at 80/. per annum, so that at the termination of the pre-
sent lease in 1848, the property may be fairly estimated to produce
a rental of 2001. per annum, in addition to a large bonus for the
public-house, rendering this property a valuable and secure he-
vestment. Held for an unexpired term of 45 years, at a grounc ..
rent of 81. 10s. per annum.
The property may be viewed till the sale, with leave of the
the tenants. Particulars may be had at the
,Crown and: Anchor,
Ebury-street ; of Messrs. Baker and Parsons, solicitors, Pancras.
lane; at the Auction Mart ; and of Mr. Fuller, 13, Billiter.strett,
City.

PRIVATE CELLAR of FINE WINE, about 1,000 dozen, the:
property of the late G. A. Brown, Esq., deceased.
MR. FULLER will SELL by AUCTION, st
Garraway's, on FRIDAY, ',September 26, at Twelve, by
direction of the Executors,
A private CELLAR of FINE WINES, about 1,000 dozen,
selected from the best shippers, regardless of cost, and principally
bottled under his own personal inspection advantages which'
render the stock to which attention is now solicited unrivalled In
point of character and excellence. It comprises about 700 dozen of
old crusted Port, from seven to twenty-five years in bottle, pur-
chased from the first houses in the trade, amongst whom may be
mentioned Messrs. Greenwood "and Butler, J. and C. White, Le-
mon Hart and Son, Clifton Webb, Mitchell and Collins, Mabon
and Symons, M`Kinnell, and others; a few dozen of genuine Boni
Reteiro; 150 dozen of very superior Sherry, three to ten years in
bottle; 50 dozen of very choice Claret; 25 dozen of very fine old
Hock; 50 dozen of Champagne, Madeira, Barsac, Sauterne, andi
Constantia of the finest quality ; a few dozen of Brandy, Rum,.
and Whisky; and about 60 dozen of Barclay's Stout and Stonham
Ale. Samples may be had by payment.
The wines are lying in the cellars in Fenchurch.street and Wel.
thamstow, where they may be viewed by tickets, two days prior to
the sale. Samples may be tasted in Billiter.street, two days prior
to the sale, and also at the time of sale. Catalogue* at Garrawafs,
and of Mr. Fuller, 13, Billiter.street, City.

SOUTHWARK ELECTION.
MEETING OF MR. MIALL'S FRIENDS.
Another meeting was held at the Bee Hive, Warner-
street, Dover-road, to hear an address from Mr. Miall
in exposition of his political principles, Mr. Apsley
Pellat in the Chair.
Mr. MIALL was received with great cheers on rising
to address the- meeting. He begged to remind those
present who were really friendly to his cause that they
could do him no greater harm than in attending meet-
ings of the other candidates and opposing their proceed-
ings, thereby stifling free discussion. He earnestly
entreated that no friends of his would act in this foolish
manner, but allow each candidate a fair and candid
hearing, and afterwards refute their arguments, not by
noise, but by argument. A report had gone abroad
that Sir William Molesworth's Committee had opened
thirty public-houses with a carte blanche to his sup-
porters. If that were true, every gentleman on
the Committee should wash his hands of a cause that
required such base means to support it. He did not
want a single vote that was obtained by mistake or
coercion. He would advert to another point. He found
among what was called the more respectable part of the
constituency that there was an outcry against him on.
accoant of his extreme political sentiments, and it had
been alleged against him as a crime that Mr. Feargus
O'Connor bad issued an address in his favour. He
(Mr. Miall) was not ashamed of any man so long as his
principles were just. Even though the Times, Morn-
ing Post, and the whole Tory press conspired
against him, that would not in the slightest
manner affect his political sentiments. ,Although
he was in favour of the principles of the people's
charter, he was not to be identified with the violence
with which certain parties had enforced their views.
These parties had done more injury to the cause of
rational liberty than all other adverse circumstances.
After referring to several other topics usually taken
up by the Hon. Gentleman, he concluded his address
amidst loud cheers.
Mr. MILLER then moved the usual resolution, that
Mr. Miall was a fit and proper person to represent the
borough in Parliament.
The motion was -seconded by Mr. Robson, and after
remarks from Mr. Maynard and Mr. Eastwick, it was
put and carried with but one dissentient.
The meeting, which was a very crowded one, many
persons not being able to obtain admission, then
separated.

THE CURRENCY QUESTION.
A WORD UPON A MEASURE OF VALUE.
FROM A CORRESPONDENT.)
To food, the chief necessary of life and support of
labour, we should, for obvious reasons, look for a mea-
sure of value, for the value of the products of industry
vary generally in the ratio of the labour bestowed upon
them in their being prepared for market. But a mea-
sure of value composed of food is inconvenient, and not
well adapteo to facilitate the interchange of the products
of the earth ; 31 has, therefore, been found necessary to
use symbols or to,!tens of value ; such symbols or tokens
may, however, be ‘Nprthless, intrinsically ; their value
being simply conventiooal ; as in the instance of bank
notes and Exchequer-bills pf the present day, and as in
the instance of Exchequer' ,tallies of wood in former

periods.
To avoid, in future, the great mischief and misery
occasioned by tampering with the cuvrency, the follow-
ing suggestion may afford a method of its adjustment to
the conditions of an increasing populativn• and conse-
quent increasing commercial transactions, to which, in
the opinion of very many, our monetary system is not
adapted. For in the event of a failure in our own home
production of food, the great staple commodity of the
country, or other disturbing cause, alarming mischief, it
is apprehended, will ensue ; some few would be enr;ched
at the expense of the very many, composing the INN-
ducing classes,: who would be impoverished.
Upon the principle of the Tithe Commutation let us
then proceed. Suppose, at the time of the tithe commu-
tation the relation of value then subsisting between
wheat, barley, and oats, each a definite quantity on the
one side, and a pound (our unit of money measure) on th
other side, was just in regard to debtor and creditor,
payer and receiver ; we have thence based upon TOM:
sures of food a token of value denominated a pound.
Having a token, or symbol, of value, the pound, de-
pending upon definite measures of food ; the pound, food
and population may be regarded as functions each of the
other.
The tithe commutation was based upon the average
prices of three different articles of food, wheat, barley,
and oats, during the seven years preceding its enactment.
Now, during that period the quantity of wheat, barley,
and oats consumed ; the amount, also, of coin and bank-
notes in circulation, by which prices were, during the
same period, mainly governed ; and the amount of popu-
lation fed, can, with sufficient accuracy, be obtained to
afford a tolerably correct knowledge of the relations
subsisting between food, money, and population.
Upon such data let a paper currency be based. Let
one pound notes take the place of sovereigns which, it is
proposed, to withdraw and deposit for commercial pur-
poses. Let every bank of issue deposit in the Treasury
ample securities for the amount of their issues, that is,
before any bank can be supplied with stamped paper
for its notes securities must have been deposited ; and
when notes are worn out, and no longer fit for issue,
they must be returned by the bankers to the Treasury,
before stamped paper can be supplied to them for new
ones. But this is a matter of detail.
Bank-notes to be convertible into gold at its market
price, such price being daily stated in the public papers,
as in the manner of the prices of Stock.
As the population increases the issue of notes
shouldshuld
be increased, governed, however, by the state
prices of food. For the object in view is to maintain
steady prices ; and if it should be found that prices
upon an average of preceding years be dec
el niing, and
d
the ratio of food and population unchangd. it
show that the issue of notes should be increased ; and if
the conditions be contrary, it would indicate an excess of
issue. The issues of stamped paper for notes should
then be contracted till the required relations between
food and money be restored. A pound, at any future
period would, under such arrangement, purchase about
the same quantity of food, and be exchangable for about
the same amount of labour as at the time of the Tithe
Commutation.
Judging from the past and present, it is not probable
that the exchange of labour for food will be sensibly dia-
turbed ; that is, the working classes will not be epa•
bled to obtain more food for their labour at a future
period than at the time of the Tithille
only be Commut
as the in-
ation, for
the increased produce of food w
crease of population.
The Quarterly dividends and salaries to be paid by
Exchequer-notes, in anticipation of the quarter's reve-
nue, such notes to be redeemed when the quarter's re-
venue shall have been collected. By such an arrange-
ment the amount of currency in circulation for the or-
dinary, transactions of dealing would not be disturbed.
Gold being reserved principally for commercial pur-
poses, it may be sent abroad and be returned again with-
sensibly
es etnhsei bpl ya s affecting
sing oof
t h
ethe
ucrirrecnuelya t iBo
1,1
oa
fs
IhBals, h. appened
enactedof Sirß; Peel's
the
l
Through
enormous thewrongs
a g
eweren cy
producing Currency
o, a s
were the greatest sufferers. The prices, as settled by
the Tithe Commutation, arc not sufficiently high, under
a system of a high rate of indirect taxation; yet it
would be another act of injustice now to undo to the
full extent what Sir H. Peel's Bill has accomplished.,
The suggestion offered is under a supposition that
there will be no increase of indirect taxes ; and that in
the event of being compelled to war, the current ex-
penses of the year will be defrayed by a direct and ju'stly
modified income-tax.
J. H.
Sept. 1, 1845.

THE 1111rROVEMENTS IN THE TOWER.—The im-
portant improvements now going on in this fortress are pro-
gressing more rapidly. The new Waterloo barracks, which
are to be upwards of three hundred feet in length, are consi-
derably above the foundation, and in some parts even as high
as the first story. The demolition of the present entrance, the
spur gate, barracks, warders' hall, &c., will not be proceeded
with until the garrison is completed. In the course of yester-
day several ancient and valuable relics were added to the grind
armoury. Amongst them were two superb complete suits of
Asiatic chain armour, formed of copper, steel, and brass. Also
a shield of the sixteenth century, of considerable value, pur-
chased by the Board of Ordnance, representing the siege of
Nantes in 1477, and the death f the Duke of Burgundy.
There have also been added two cross bows, rescued from the
wreck of the Mary Rosa, sunk at Spithead 250 yew sines
'which are in an excellent state of preservation.

SALES BY AUCTION.

1