The Sun.
London, England, 1844-05-06 00:00:00

CURRENCY AND TRADE.
TO THE EDITOR OF THESCIA,_

- _
SIR,—In one of the leading articles of the Morning
Chl °tact?, on Wednesday, the Editor treated on the Fac-
tory Bill, now before the House of Commons, and among
other remarks of importance observed:
lf we can permanently raise wages by direct legisla-
tion, it is a new and most important truth in political
econi rny. The wellbeing of the most numerous class is
the great object of legislation, and the nicans'tif attaining
it the most preeiensboon which economical science can
confer upon society. Let it be shown that legislation
can by direct interference with human labour, ensure
permanently- to the labouring classes a larger share of
the necessaries and comforts of life than they could
otherwise enjoy, and the establishment of the principle
will be a far more glorious - event than the invention of
the railway or the steam-engine or any other physical
triumph of the age."
On two or three days preceding the article from which
I have quoted, another question was discussed in the
same paper—that of the Currency. Had the Editor of
the Chronicle fortunatelytaken the enlightened view you
have done on the latter most important topic, he would
have treated the currency and the rate of remuneration
for labour as questions clearly id,ntical ; he would have
shown to his readers with a force to have entitled him
to some of the fame he offers to others, that when
rightly considered it is perfectly within the power of
Government, with the'r influence in the Legislature, to,
" ensure prmanently to the labouring Classes a larger
share of the necessaries and comforts of life than they'
could otherwise enjiiy."
It is lamentable to reflect on the obtnsene;s Of Men's
minds regarding the fatal error committed in the mo-
metary circumstances' of the nation by the celebrated
Bill of 1819; which not only .at that time_changed the
amount of all the liabilities of debtors, public and pri-
vate, and of the value of all property engaged in trade
and agriculture, from 30 to 50 per cent:, but still ope-
rates to destroy. the legitimate prafitnf the producer in
this country, and to impair, to a very. oppressive extent,
the fair and just reward of labour: Mr. Pitt, when he
saw a necessity for lifting up taxation, looked at the
question of the currency with the light of experience
and of ancient precedent, and he adopted a conventional
medium of interchange in Bank of England-paper,
which, by-the celebrated Restriction Act, he rendered a
legal tender. The change so -produced enabled the Go-
vernment of this country to supply most of the means
for carrying on the long and eventful Continental war
from 1797 to 1815, while, at the same time, it gave pros-
perity to all the producing classes of the United King-
dom ; and had the restriction been wisely continued for
the twenty-eight or thirty years after the termination of
the war, we should by this time have paid off two-thirds
of the immense National Debt, and have seen the people
happy and contented. . • • '•. - -
It is an ascertained fact, as you have well pointed out,
that no other than an artificial currency enables the pro-
ducer to add indirect taxation to specie, so as to reach
the wealthy Consumer. The adoption of, gold, fixed by
law at 31. 17s. 100., has the effect of confining the pay-
ment of this class of taxation to the producer —and hence
it is that wages of labour have been reduced to the ex-
tent of some two shillings or more per week, in respect
of the lowest class of labourers, and a proportionate
diminution of the higher class of artisans, a result mani-
festly unjust, and which ought not to be continued a day
after the discovery of a remedy is announced. This
very important mode of accounting for the distress and
misery that so extensively prevail among the producing
classes, has beers most lucidly set forth by Mr. John
Taylor, whose sound statistics, and profound writings
form the basis of a society recently organised in London,
for the concentration and diffusion of enlightened opinion
on the currency question. I refer to -the " Society for
the Emancipation of Industry," in Parliament-street, and
I unhesitatingly invite an examination of the publica
tions of that Society, in confirmation of what I have
advanced. If the views of this Society be fairly
considered and adopted, the wages of labour would un-
doubtedly rise some 20 per cent; without oppression to
the master—there would be abundant means of inter-
change of commodities at remunerating prices to the
capitalist in the home market—foreign commerce would
be carried on with facility and success, as well as with
equal justice to the foreign and British merchant ; and
we should not hear of future instances, such as that de-
scribed by Mr. Ward in the House of Commons, with
reference to the orders tendered by Mr. Muntz to the
town of' Sheffield, being rejected, and ultimately sent abroad
for execution. The English manufacturer would be able
to'vell abroad for gold at a price as low, or even lower,
quality being estima'eil, than the Continental producer.
Machinery would, from increased commerce at home
and abroad, take its proper place as the auxiliary, rather
than a means of superseding labour. Lord Ashley
might then fearlessly, and with safety, prosecute his
humane legislation to prevent undue labour of females
and children in our factories.
I remain, Sir, your obedient servant,
DELTA.
April 4, 1844.

FLANDERS AND DUTCH MAIL.
Bitussme, MAY I.—The King and Queen of the Bel-
gians landed at Ostend yesterday evening, and returned
to the palace at Lacken at two o'clock this afternoon,
The Treves Gazette publishes a latter from Frankfort,
of the 24th of April, which says, "That the. German
Diet is considering of measures to put an end to games
of ' chance now authorised in the different watering
places. Preliminary negotiations have already been
opened for this purpose between Austria, Prussia, and
other German Cabinets."
MAY 2.—Yesterday the King presided in a council of
Ministers.
in the Secret Committee yesterday, the whole of the
sitting
neora s taken
et
that
anittandleeendtgoeut
bhp i
this
e
debate
on a
e sbeheff:duciltsdcaun s
ds
immediatelyi
published.ortn,iew e Fivethe
det. h e ro ther
s xd e bma
mo-
at
wished wbeMp.iDibleilsfresde,
and that for his part he should not hesitate to make,
in the public sitting, any observation which appeared
to him to be called for. It was at length decided that
the debate should be open to the public after two o'clock
this day.
THE HAGUE, MAY I.—We learn that his Majesty
the King will leave the Hague to-morrow, and go for
some days to Tilburg.
In the month of April the number of travellers by the
iron railway was 51,698 ; the receipt for the conveyance
of 'passengers and goods was 47,651 florins. In April
last year the number of travellers was 27, 329 ; the re-
ceipts 20,504 florins.
AMSTERDAM, MAY 2.—We hear that the Second
Chamber will meet again, for the dispatch of business,
abOut the 20th or Elst of this month.
THE HAMS, MAY 2.—We have great pleasure in
announcing that the late King William Frederick, Count
of Nassau, has left by his will a considerable sum to the
poor of this town, without distinction of religion, and an
extraordinary legacy to the poor of the Reformed
Church. His Royal Highness Prince Frederick, as exe-
cator, has given notice of these bequests to the parties
concerned. Similar legacies have been left to the poor
of the capital.

THE ROYAL ACADEMY.
On Saturday the members of the Royal Academy of
Arts gave their anniversary dinner at their apart-
ments in Trafalgar-square, which was attended by a
numerous assemblage of guests of the first rank and
talent, among whom were his Royal Highness Prince
Albert, the ord President of the Council, First Lord
of the Treasury, Secretaries of State for the Home and
Colonial Departments, Secretary at War, First Lord of
the Admiralty, Commander- of the Forces, Master of
the Horse, Speaker, Chancellor of the Exchequer, Pre-
sident of the Board of - Trade, Lord Chief Justice of the
Court of Queen's Bench, Master of the Rolls, Vice-
Chancellor of England, Lord Chief Justice of the
Common Pleas, Lord Chief Baron, Solicitor-General,
Chairman of the Board of Customs, Chairman of the
Hon. East India Company, Governor of the Bank,
Master and Warden of Dulwich College, Pre-
sident of the College of Physicians, President
of .the College of Surgeons, Portuguese, Sar-
dinian, Sicilian, Danish, and Swedish Minis-
ters ; Dukes of Bedford, Richmond, Beaufort, Suther-
land, and Cleveland ' • Marquises Northampton, Angle-
sey, Westminister, Normanby, Exeter, and Granby ;
Earls of Burlington, Browniow, Eldon, Howe, Clarendon,
Cawdor, and Dartmouth ; Viscount Palmerton • Lords
Besborough, Mon teagle, Sudely, Prudhoe, Colborne,
Brougham and Vaux, Abergavenny, John Russell,
Francis Egerton, Charles Townsend, and Mahon ;
' Bishops of London,- Lichfield ; Right Honourables F.
Baring, H. Lahouchere, C. W. Wynn ; Sirs R. H. Inglis,
J. Swinhurne. G. Phillips, H. Wheatley, Willoughby
Gordon, H. Ellis, T. Baring, E. Ryan, T. D. Acland,
W. James, J. Lubbock, J. Knight Bruce, G. Staunton ;
Rev. Sydney Smith, Colonel Wylde, Captain Seymour,
Messrs. J. Morrison, J. Neeld, E. R. Tunne, S. Rogers,
C. Babbage, J. Cartwright, Hampden Turner, B. Hawes,
T. G. B. Estcourt, P. H. Howard, J. H. Hip-
pisley,, R. Vernon, S. Jones Loyd, T. Grenville, Sydney
Herbert, C. Kemble, A. Milne, D. Barclay, H. Elnhin-
stone, R. J. Murchison, C. Dickens, H. Hallam, J. H.
Green, &c. •

ROYAL POLYTECHNIC INSTI-
TUTION.