The Sun.
London, England, 1844-06-19 00:00:00

atizscELL.arezotrs.

Thursday next is expected to be a grand day at Oxford,
when the usual business of the commemoration will take
place in the theatre, and the prize essays and poems will be
recited by the respective authors. In the afternoon the
last grand miscellaneous concert will conclude the public
festivities.

A Government measure is before the House of Commons,
to " Empower Canal Companies to vary their Tolls, Rates.
and Charges in Different Parts of their Navigation." It is
declared that certain railway companies are authorised to
vary the rates and charges according to local circumstances,
and that greater competition for the public advantage would
be obtained if canal companies were to have like powers
vested in them in respect of their several canals and navi-
gations.
On Monday the officers who have served and are serving
in the 7th, or Queen's Own Hussars, held their anniversary
dinner at the Clarendon Hotel, in commemoration of their
services. Among the distinguished officers present on this
occasion were the Marquis of Anglesea, the Duke of Beaufort,
Lord Vivian, Lord Crofton, Earl of Belfast, Lord Alfred
Paget, Sir W. De Tayler, Sir Arthur Chichester, Colonels
Keane, Wildman, Lyster, Rollins, Portman ; Sir James Ham-
lyn Williams, Captains Lumley, Grasett, Inge, Bushe,Wynd-
ham,Peel, Phillips, &c.
A special general meeting of the Essex Agricultural Pro-
tection Society took place at Chelmsford on Monday evening,
for the purpose of opposing the Bank Charter Bill. A very
strong feeling on the currency question has existed amongst
the agricultural classes for years past, and the general opinion
in Essex certainly is that the Bill of 1819, and the subsequent
measures which have been resorted to in order to give effect
to the principle of that Bill, have been highly injurious.
Several speeches were made against the measure, and a peti-
tion to both Houses of Parliament, praying that the maxi-
mum circulation of past years should be taken to regulate
the future maximum of issues; and that the period from
which it is taken should be extended to five or more years.

A SHORT QUERY (BUT MORE
SHORT" THAN SWEET").

TO THE EDITOR OF THE SUN.

SIR-My old banking friend feels absolutely certain
that in the event of Sir Procrustes Peel carrying his
Currency-curse Bill, an immense contraction in the cir-
culation of all banks of issue, except the Bank of Eng-
land, must immediately ensue, leaving a vast gap to be
filled up by gold, and the notes of the Threadneedle-
street concern.

The issue of the latter institution must, therefore, be
temporarily extended (I have already shown that ulti-
mately it must be much contracted), and as the Directors
are empowered to pass over to the issue department, if
they please, the whole of their gold and bullion, it is
possible, that the present circulation of twenty-one mil-
lions may be for awhile stretched to thirty—fourteen on
Government debt, &c., sixteen on gold and bullion.
Let us imagine another fortnight of dry weather, a
deficient harvest, great importation of corn, and exporta-
tion of specie and a run on the banks—events dependent
on each other, and by no means unlikely to occur : the
Bank of England notes are driven in for specie, the de-
posits withdrawn (the former amounting to thirty mil-
lions, the latter to thirteen), a demand for forty-three
millions of gold is created—the Bank has sixteen I
From what source does Sir Robert Ruinall purpose to
provide the remaining twenty-seven millions ?
Yours, &c. COMMON SENSE.