The Sun.
London, England, 1845-08-09 00:00:00

PARLIAMENTARY BUSINESS.

FRIDAY, Aug. 8.
Sheffield and Lincolnshire Junction Railway Bill,—Report
considered; amendments agreed to; Bill to be ingrossed.
Railway Bills (Group X),—Special report brought up and
-read ;to he-on the table, and to be printed :—Bills withdrawn
London and York Railway (Sheffield Branch)
Bill,—Re-
ported ; report to lie en the table,-and to be printed.
Railways,—Return of Railway Acts passed in the present
session, with the-length of each line (ordered 4th August),
laid on the table, and to be printed.
Standing order, No. 23a, read, and amended, by leaving
out the words " together with the line ,of the projected rail-
way laid down-on a map of a scale not-less-than that of the
Ordnance map of England," and inserting the words " toge-
ther with a published map to a shale of not less than half an
inch to a mile, with the line ofrailway delineated thereon, so
as to show its general.cour,e and-direction."
- Piers and harbours,--Address-for " Return of all tolls now
authorised to be levied for the maintenance of any piers or
harbours on the coast of Great Britain and Ireland, on ves-
sels passing by but not entering within such piers or har-
bours:- distinguishing the amount of any such tolls, the pe-
riod at. which they were authorised to be levied,-and the time
during which they are to- be continued; -together with the
amount of such tolls received in each year, from the year
1838 to 1844, both inclusive." '
- Colleges of Physicians and Surgeons, &c.,—Address for
"Returns from the Colleges of Physicians and Surgeons, the
_SoCieties of Apothecaries, and the. Universities of Great Bri-
tain and Ireland, showing, for the three years ending the
31st day of December, 1844, the--number of candidates ex-
amined-in each College, Society, and University, for diplomas.
or licenses in medicine and surgery, the numbers of such
diplomas or licenses actually granted, and a definition of the
rights and privileges which such diplomas or licenses have
conferred on their possessors." -

REPORT FROM THE SELECT COMMITTEE ON
GROUP (X) OF RAILWAY BILLS.
(SPECIAL REPORT.)
EASTERN COUNTIES (HERTFORD AND BIGGLESWADE),
LAND RAILWAYS EXTENSION (SVVINTON. AND LINCOLN),
MIDLAND RAILWAYS EXTENSION (LINCOLN AND ELY),
YORK AND NORTH MIDLAND AND DONCASTER EXTENSION,
RAILWAY BILLS.
Lord Courtenay reported from the Select Committee on
Group (X) of Railways, That, in the case of the Eastern
Counties (Hertford and Biggleswade), Midland Railways
Extension (Swinton and Lincoln), Midland Railways Ex-
ion
E(Lincolnxtnesainond E
Rl
a Bills, the parties promoting
yilway
), York and North Midland and
Doncaster
those Bills respectively, had intimated to the Committee
that, in consequence of the advanced period of the ession,
Ex-
tension
it is not their intention to proceed further with them at
r
present.
Eord Courtenay further reported from the Select Com-
mitttee, that, in reporting as above to the House, they think
it [right at the same time to state, that' it is owing solely to
the length of time occupied in the previous investigation,
and not to any 'aches of the parties, that the Billa are not in

a position to render it desirable that they should be further
proceeded with.

The PREMIER and the CURRENCY.
Sir Robert Peel rarely ,condescends to joke. When,
however, be does, the subject will generally be found to
be a weighty one-; and- not less certainly will the cha-
racter of the subject be found to exhibit itself in the
Premier's witticisms': The specific gravity of these
effusions is always remarkable.
The currency question is one with which Sir Robert
loves occasionally to daily. Be can at times no more re-
sist the temptation to say smart things about the
"standard of Value," and "Birmingham economists," than
he can repress his disposition to be pompous when deal-
ing with matters which, to men endowed with a larger
measure of fancy and with greater flexibility of manner,
supply sometimes not ungraceful occasions of jocularity.
The Premier's recent reply to Mr. Spooner abounds in
passages distinguished by what B.tikspeare styles
" heavy lightness," -
Sir Robert sheered at Mr. Alison, as stell as at
" Spooner and Att:v.,pod;" and, after adverting to what
be deemed inconsistencies in Mr. Alison's doctrines, ob-
served with infildfe- contempt, "this is the philosopher
who is to instruct us on the currency !"
And what may be the pretensions of Sir Robert Peel
to a larger in, asure of economical wisdom than has
fallen to the let of the "Birmingham economists ?"

Did not Sir Robert Peel commence his career as a
legislator on the currency, by resisting that scheme of
" philosophy "of which he now boasts that he the
chief apostle ? Did not Sir Robert Peel struggle in
1811 against the theory which Ricardo fabricated,
end which Jones Loyd has strengthened and ex-
tended ? Did not Sir Robert the now unbending
cha;enpiori' of"" the- true currency principle "—maintain
with:Lon!' Beiley, in:. 1811, that Bank of England
Tiric!ero,,e no. depreciation ? Did he not
maintain, at tine when .a guinea was selling in the
market for a one-t;t•arid Bank note and seven 'shillings,
that the market value of the guinea was not more than
one shilling and the one-pound note ?
Did not Sir Robert, a few years subsequently,
abandon without apology or explanation his anti.
bullionist opinions ? Did he nut unblushingly em-
brace the Jewish 'system which he had preViously de-
nounced ? Did he not, in 1819, while still styling him-
self a Tore, repudiate the economical faith of Mr. Pitt,
and lend himself to the schemes of the usurers, and of
the:other eneliiiei-it,f Englithinditstry ?
• • 13.11 f 1 e. 19 -st I,d
" R ob, Currency
revealed before .tlin worldlils a blandor and a mighty
fr'and , Mar..uot„the :.fraudulent character of that
measure be. in ,fact, established by the aid of Sir
Robert's " principle 4" and declarations ? Did not Sir
Robert adopt the words of Ricardo, and proclaim that
the action of his money-law would not lower prices
more than four-and-a-half per cent. ? Have not prices
been lowered by the action of that law more thin
fifty per cent. ? Did not Sir Robert. promise in 1819
that his. Inoneyrlaw would supply the country with
a steady and sufficient " currency ? Did not Sir
Robert, when, in 1844, he introduced his Bank'Charter
Act, admit, virtually, that his
_Currency • Bill of 1819
had proved a . disastrouslailure ? Was not the
;Bank!Charter Act indeed, introduced, for the express
purpcse of secgring to the Country what the Currency
Bill et ls:lVivit.s. declared- to have secured to the country
a quitrter' of century before ? And, because Sir
Robert's beautiful " currency principles" had led to.
nothing but industrial disasters, these principles were
declared by him to be deserving of more stringent
application !
Yet this most profound and most consistent of legis-
lators on Currency. ventures to sneer at " inconsisten-
cies" which he imputes to Mr. Alison, as well as to
" Spooner and Attwood !"
Sir Robert fears-that if gold were allowed-to find its
valte' t.he ftiarke.t, the precious commoditymighTiffeVgq '0":1-6/." per ounce. And can- Sir
Robeits;wlo, kaiffettik such an inferential argument
prok•exi TlA,,ini4tt,e4iinnsvjt,,establishing a 'system of
Oat,i444l4eptesent the t.,xation of the
country, and be convertible into gold only at the maritet
price of- that metal .? If he does, his ignorance must,
indeed, be fa'hondess.

Why should Sir Robert Peel dread the prevalence of
a high price of gold ? Does be not rejoice in a high
price of Consols ? Has he not dilated on the fact that
the funds have been at par, as proof of the wisdom of
his economical policy ? Why, we ask again, should
our,consistent and most .logical, Premier regard with
-,ifetteritt*e in the pricelor:gold from 31. 17s. 100. per
ion nic6'tti 'liK4tirtfilfAV!feJ o itVx Vier a rise in t he-priee of
ig9iidifffahlett efPerr
i',,l,elriirtiiitirOgslTrect'atten'tion to certain arrange-
..nVent:Oho7:jtirqpiioipitiett by the Bank Charter Act,
,which our consistency-loving Premier has forced upon
the country.
Sir Robert, who contends that paper money should
represent and be:of. precisely the same value as gold—
gold being, in the first place, art facially cheapened—has,
nevertheless, permitted the Bank of England to issue
fourteen millions on the security of Exchequer-bills; and
of the debt due by, the country to the Bank.
If the principle of this arrangement be sound, are we
not warranted in inferring, that every creditor:Of Gbyern-
ment is entitled to exercise the privilege of issuing gaper
money? _. • _ _ _

" We owe the. Bank of England eleven millions of
money; therefore," so argues Sir Robert Peel, " the
Bank ought to be allowed to issue promissory notes to
that amount."

This reasoning may be perfectly irresistible ; but if it
he, then iewohld seem to follow that, us the country owes
to a certain class of ' persons eight hundred millions of
money, that class of persons ought to be allowed to issue
eight hundred millions of promissory notes.
How may a statesman, so enamoured of" consistency"
as Sir Robert Peel is, escape from this conclusion ?
Has not the Premier declared, besides, that it is every
nation's " wisest course to buy cheap and ta,sell dear?,."
How, then, may this consistent" gentleman ventureqo
declare,-as he did' during the discussions on the Rank'
,At rter Act, that he floes not waht the greatest qiiant:l,l
at the cheapest rnte"—but that "he wants the best article
, Sir Ro.bgrt, it will be no!ed, assumes that system of
curreney',to be !' best " which best suits—not the indus-
trious classes—but the classes which prey on industry.
Sir Robert has, we repeat, told his agricultural stir-
porters that the true rule of tuitional policy is "to buy
cheap and to sell dear." As soon, however, as there
arises an occasion on which this—his pet maxim—might
be turned tUaccount by agricultural producers, Sir Ro-
bert unhesitatingly repudiates it. If it be good to " buy
cheap and to sell dear," the agriculturist is surely en-
titled to demand the privilege of sellin.ghis produce
" dear," and of buying "cheap' the money.roy:hick. the,
value of that prcduce is measured. "NoritaterpOtes,tie
cowistent Sir Robert,, " I like corn cheap, but. I like
money good. tolerate, therefore, only the best
money—that motley which shall best promote the pur-
poses of mortgagees, annuitants, and usurers."
The " consistent " Sir Robert is, in short, the true
• farmer's friend." H is always busied either in directly
cheapening agricultural produce, or in adding, directly,
to the agriculturist's dehts and burdens.—Post.