The Sun.
London, England, 1810-12-13 00:00:00

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EXTRACT
PROM SIR JOHN, SINCLIR's PAMPHLET.

POLITICAL MAXINI3 .REGARDING COIN AND PAPER
CURRENCY, INTE.NDED TO EXPLAIN THE REAL
NATURE AND . ADVANTAGES OF, THE PRESENT
SYSTEM, . .

1. Thai it is 'of the utmost. iniportance, in art
early period of society, to have'metals, or any other
substance of a similar nature, fixed upon by corn- .
flan consent, by ineans of. which individuals may
receive the reward of their labour,rand the public
ILI -revenue, in an article eltial in value, when sold,
to that for which it has been exchanged, and which
will answer as a medium for transterring property
'') goods, without the tiece,sity of actual barter ;
and that 'the precious metals, trom ,their intrinsic.
value, and other advantages, are peculiarly calcapn
fated for such useful purposes in. periods of so-
ciety, when property is insecure, payments few,
credit unknown, and the population inconsiderable.

2. That when a society becomeS more numer-
ous, property more secure, and payments _larger and
khare frequent, it. 14 a most essential :improvement-
in the political circumstances of a country, to have
some means-of paying the wages of labour, raiSiiig,
a revenue, and,eftetting.the transfer of goods, with.
such a circulating medium as paper currency, being .
of a nature less combrnus. than coin or bullion, and
1101 liable to the various disAvantages, lobe after
wards explained, attending a meallic circulating me- .
diem ; and That in countries where no mines of the
precious metals exist,• the necessity of procuring
I.lacm from foreign countries,- at an enormous ex-
Pence, for no other purpose,. but merely to act as
the medium of circulation, is' thereby prevented.
-a. That the establishment aa, paper currency is
*f great importance to a nation, were it only iorthe
ronrposeolsavingthe expence of purchasing bullion
10 be conve-ted into,coin ; but that such a currency
does not answer the object' effectuallY,• more espc;-
cially in times of war, if the paper is: Convertible
into coin on demand, as, in that case, a large'quan-
lay of speCie .is uselessly hoarded up, to Ott ready
for any.. probable, or even possible,demand, and
bence that, in times of alarm, the circulation of a
Country is' rnost,.diminisheci, 'when its abundance is
Inost .requited. . .
'4. That coin,.though highly_useftal when no other
riledittin of transfer can well be es!rthlished, yet, is
attended With great disadvantages:l. If i perfea7
ly unfit for making large paymen's, insomuch, that
.2teither the commerce of this country; to its present
extent, could be carried on, nor its great revenue.
colletaed, if coin were the sole medium of circula-
ttion.-72. It can never be procured in sufECient quan-
tities for the demands of an industrious, and pros-
Perotisr nation.—. 3. It is constantly tharinishing in
its Value by wear, which diminution must be made
.good, either by the public or by. the indiriduaL*-:-
4. It is liable to various operations., as filing, clip-
Ping, sweating,'&c. by which its weight may be
No much reduced, as.to render it unfit for passing.—
P. It is apt' to be hiOarded up when it, is. most
Wanted, namely, in times of alarm, and the hoards
being generally secret, she are 'frequently totally
last ;--and, 6.. Private • individuals possessing a
quantity of specie, are more liable to lose their
right- of property in it, than in. paper.; and when
nations possess it in great abundance it is a teMpta-
lion to invasioo."t

5. That paper' currency, •on the Other hand,
'hen properly regulated, is. not liable to one of
these. objections, WftliSt ft possesses many advatt--
(ages of; peculiar A. nation has th
edvantoge of this curiz....,cy,at Itt tle or no .expence;
itisiead of exporting millions worth of goods to pur-
chase bullion to be conversed into coin, which, after
all, could only answer the same purpose as paper
currency, but. not
.so well.-2. This currency need
never be diminished in its amount, tvhfth uniform-
4, occasions infinite misery to' a country ; on the
contrary, it may be augmented whenever the'wants
.of agriculture, to catty on its tuiprovemetits, or of
on increasing commerce or revenue,. render it ne-
cessary.--3. Where paper currency isrthe- medium
of circulation, either corn or bullion, instead of.being
uselessly hoarded' up, may be exported, for the pur-
pose of carrying on necessary wars, or of purchasing
grain in "tinies of scarcity, which could not other-
wise be hazarded, without the tisk of throwing the
whOle country into confusion.-4. With an abun-
dant circulation, the necessary result of. a paper cur-
rency; a nation prospers to a degree beyond all pos-
sibleCooception •
_Ltliousands of people are employed,
who, under a different system, Might either have
been almost entirely idle, or a burthen on the COM-
111Unity ; and money, whether borrowed by indi7
vidualsLor by the public, is p.ocnrable, (a point of
the most essential.' importance), at.a moderate rate
of interest. With such facilities, the payment of
taxes, however great, is accompanied with Much
less difficulty ; industry does not lauguiih. for..want
Of employment, and every species of improvement
is carried on with spirit. The.tnischiefs of a cramp-
ed cireblation, on the other -hand, 'are incalculable ;
agriculture decays—commerce fades—public credit
is annihilated—the public revenue becomes unpro-
ductive-7-and men,: frotn. distress and despair, are
ready to involve.themselves and their country in all
the-horrors' of a revolution.
6. That the state of Great Britain, for a period
of thirteen years,. during which a paper currency,
not convertible into coin, was the,. medium of cir-
culation, proves, beyond the possibility of doubt,
the, advantages of the new system. •During that.
Whole peribJ, our exertions in foreign war, and
domestic improvement, have been great beyond all
example. We have at least occa,ionaliy fought
France single-handed, which her Emperor had bold-
ly declared to be irnpos,ible; we have confirmed
our empire of the. sea; we have every where defend-

* In the reign of King Williath alone, the recoinage cost
the public 3,t70,401. History of the Revenue, Vol. p. 45,
The average expence of the Revolution was only about three
millions per annum.
t When an individual is plundered of coin, there are no
tneansot distinguishing it from the other specie in circula-
lion; but notes may be marked, or the payment stopped, and
any loss thereby prevented. In regard to nations, abundance
of coin or bullion beec-nes the immediate objed of the plun-%
der of an invading ; wherea:; the paper currency pecu.
liar to a country, if he succeeds in his views of conquest, is of
no,use to him; whilst it circulates amongst those who place
Confidence in- the Government, under whose sanction it had
been issued.

ed Our friends ; are have every where combated our
enemies; and yet, during all •that, period, the Bank
of England was not Cotivello to issue gold ;—the
whole was effeted by paper, not convertible into
coin. Would it be wise to 6Verturn a system
Capable -of-.accomplishing such astonishing. effects ?

7. That there is a most essential difference be-
.
tweeri a Paper Currency, ading merely as the re-
Presentation,• not of coin, but of marketable pro-
perty in general, and issued by a respectable, opu-
lent, and well conducted Corporation ; and State
notes, or GovernMent paper, circulated by com-
pulsion, issued without limits, and founded on no
security; and though-such Government paper may
have become depreciated in other-countries, when
multiplied beyond all boundi, that is no reason why
a Paper Currency, of a description completely,dif-
ferent, namely, mercanti;e paper, which is never
issued but on the most unquestionable security, may
not, under proper regulations, be perfedly "unex-
ceptionable.
8. That coin or bullion, as a species of merchan-
dise merely, may be of service in the transactions
between commercial nations; and is a ready means
:of making remittances from one country to another;
but that unless wherd 'the balance is unfaVoteable,
(in 'which, case the exportation of goods is much
more expedient), the exchange between one coun,
try and another is best arranged, by means of bills
of exchange, w kich are always at the command of
an active and industrious nation, wren wars, and
obstacles arising :from commercial jealousy, or po-
liticaVranceur, do not intervene.
g. That even where the exchange is unfavourable,
it is much better to be subje4;ttd to any loss thereb'
occasioned, than fora nation to deprive itself of the
advantages ot Paper Currency, even if that cur-.
rency were the cause of the lowness of the exchange;
for'that a paper currency, by 'promoting industry, •
and every species of agricultural and commercial
improvement, will soon bring about a favourable:
state of exchange, either by the solid. exi.ortable
wealth which it would be the means ot producing,
or by raising articles at home,. with which we are •
now supplied by foreign countries.
That the Bank of England cannot well ex-
ceed in the amount at its circulation, whilst it issues
its notes on the security of good marketable pro •
perty of any description, and that to compel the
Bank to pay in gold, an article which, fruin the
failure of the mines, or a general disposition to
hoard, it may be impossible to obtain, and which,
after all, is itself nothing but a species of ma: keta-
ble property, would infallibly shake and subvert,
not only the credit of our circulating medium as it
is now established; but also the whole fabric of the
commercial ''and Public credit of the kingdom, on
the maintenance of which its prosperity so essen-
tially depends.
That it is highly desirable, that the circula-
tion and commerce, not only of any particular coun-
try, but of society in general, ..heuld• be carried on
with ,as small a proportion of the precious metals as
possible, the extracting of which from the bowels'
of the earth, requires so much labetur and expence,
and for the procuring at which, the lives of so many
millions of humin beings have been unnecessarily,
and it may be safely contended, in a great measure,
even wantonly, sacrificed; and,
H.- That the price of bullion rising in the market
much above the mint price, is a circumstance at-
taching to gold merely as merchandize, and.which
must vary with the demand for that merchandize,
as in every other similar case; and that We might
as well institute an inquiry into the price of dia-
inonds, ot cochineal; of sugar,, or ot any oilier coal-
, modify, .as into that of bullion. •
The conclusion of the whole is this, that Parlia-
' meat catt-tfind no difficulty in reditying any abuses
(if any shall •• be found to exist) which may have
• arisen in our paper circulailun, as it is now esta-
blished, for it is only the abuse that can be justly
' objeded to; but. that wholly to overturn a system,
which has proved such a sourte of national prospe-
rity, which has stood the test • of the experience Of
13 years, the most eventful in the history of man;
kind, and a system which, if maintained, will ena-
ble us to resist the utmostefforu of all our enemies,
would-be a -species ot political suicide, altogether.
unpardonable. •

5, Terrace, Palace-yard.
London, November 24, 18 (0.

JOHN SINCLAIR.

IPINDSOR, DEC. i 1.

Her. MAJESTY took an airing this morning into
Buckinghamshire, accompanied by the Princess ELI-
ZABETH, and two Ladies in Waiting. The Princess
MARY improves in
,her health daily.' • Her Royal
.Highness takes the advantage of air. and..exercise,
to which she has been a stranger for many months
pasL The Duke.of YORK, who had been ,a, visitor
in the Castle ever since Saturday last, leftPit_ this
morning,

Some idealof the distress produced on the Conti-
nent,• by the scarcity of colonial produce, may be
formed from the following circumstance :—the phy-
sicians of Vienna have declared that there are people
who cannot renounce the use of coffee without in-
jury to their health ; and that they have in conse-
quence proposed, that ,apothecaries should be per-
mitted to keep coffee, ,and physicians to prescribe
an ounce a day to persons who cannot do without
it. This single case describes, with all the copious-
. ness of volumes, the wretched state of those coun-
tries under, the influence of the inexorable Tyrant
of Fiance.

In consequence ofi two Bankers faking at Paris,
one of the firschouses at Amsterdam has been obliged
to stop payment.

Si ITIIFIELD CLUB.—Yesterday afternoon the cat-
tle, sheep, and pigs, intended to be sheWn fur the
prizes offered by this Society, began to arrive in
Gos•vell-street. Among the very fine animals sent
in last night, were some belonging to the Duke of
Bedford, George Caswell,.Esq. Messrs. John West-
car, John Warmingtun,. Richard Hudson, jun. H.
King, John Fox, Francis Guy, Thomas Goodman,
John Jenner, &c.—At five o'clock, the three Judges
of the Show, the Stewards, and a party 'of Agricul-
turalists, dined at the Three Caps, in Gw4vvell-
street, Sir John Sandeis Seabiight in the,chair.

UNITED ST TES.

ON THE. PRESIDENT'S PROCLAMATION.

[PROM 'THE NATIONAL INTELLIGBNCER.]

, . .
The Proclamation of the President must relieve
t public mind from much of the sel'citude which'
it IL:, for some time past felt. It announces the
fad, officially ascertained, 'that the " ediet s
of, France violating the neutral commerce of the'
United States, have been revoked, and are to cea,e
to have—effeet ;" and in virtue of the 'unqualified
directions of an of Congress, &dares all ,!-xis:iog
restrictions on the commerce 'and 'vessels of FranCe
and lier dependencies removed:, As, however, no
restriction exists with regard to Friince, except the
exclusion of her armed vessels from oar volts, the
principal etTeat produced will be in our favour by
the revocation of our decrees, by which we' shall by
permitted to carry on oar trade without any other
annoyance from her than is authorized by the esta-
blislied laws and' sage of rations. It is scarcely ne-
cessaty to remark, that the President in his Precla-
mation, has strittly and literally pursued the track
marked out by the Oongress, having merely dis-
charged a ministerial trust.
A feeble stand has indeed been made' by a , kw
:warm partizans, who have coatended, that solong
as the French Government retains the seqUestered
property of our merchants, she evioces an indisposi-
tion to cease to violate the neutral commerce of the
United StAtes." Bet admitting the fa6t, grid concur-
rirg fully in the sentiment, that while she does re-
tain' that pikfrpeity;" she continues ro conirnit a fie-
g,grant injustice, does that prove in the very face of a
splemn,otlicial -declaratiOn that she will not hereaf-
ter change her course, when she explicitly says that
she will ? The 'seiztire and •sequestration 'of our
property; althbugh it is highly reprehensible, and
will unquestionably present a solemn• point of dis-
cusssion on our part,
.were acts -long anterior to the
declaratioa revoking her editis, and these very atts,
so flagrantly in violation of our neutral commerce,
are those among others which by her declaration
she pledges herself to cease committing. If after.
her declaration she has continued- to seize and se-
quester our property, a correct suspicion:would have
been excited, and it !bight then well have been
dotbted whether she intended to carry her promise
into etteEt but site is not 'charged' with buy such
conduct.
• It has moreover been seen that the terms of ,the
Act of Congress are broad and imperative,
entirely to the,future, 'and not clogging any arrange-
ments calculated to secure a respect for our rights
hereafter by a reference 'to past-- condtta, however
atrocious. On this head, therefor-, the President
being vested with no disetetion, could exercise none.
There is another (pestle!), one perfectly distinct,
which it may remain hereafter to, settle with .the
French Government. By her recording her edicts,
and our withdrawing our restrictions, the question
of sequestrated property is dot put to rest, it will
still remain its full for.e, -and Our claims on her
justice and honour will be unabated

Trre Cir&liar of the' Secretary of the Treasury
sates the next step' taken 'on this interesting con
cern. It declares the state of things which will
three months hence exist with regard to Great Bri-
tain, in case she shall not have revoked or modified
in like Manner her edicts violating the neutral corn-
mace of the United States, according, to the same
Act of Congress, which prohibits ." both the.en-
i ranee. of British vessels of every. description into the
harbours and waters of the United States, and the
importation into the United States of any articles
the growth, produce, 'or manufacture of the dominii-
ons, colonies, and dependencies; of Great Britain,
or of any articles whatsnever,.brought from the said
dominions,,or dependencies.

. '

- This was a result too itnportant!to be passed over
in silence by a Goverpinent imtititted for the pro-
teOtion of its citizens in all, their lawful pursuits.
As so large a portion-of our ordinar,y trade is carried
-on with Great,Britain and her dependencies, it was
proper -that whatever went to suspend , it should be,
dearly stated, that every doubt :On:this. head might
bereinoved... 'Prompt as this notice is, it will barely
afford time for the merchahts to give requisite
strudions to •their., agents in England,
.and .to the
Merchants in England, to avoid the penalty attached
to an infraation of our laws, in case she shall not
revoke her orders. This official communication is,
further important, as it, announces. to Great Britain
and France the determination of the. Executive to
carry the Ad of Congress with.serupuluus good faith
into effed. Ore former it carries, serious appeal,
claiming the'same respell .for our neutral rights as,
We had experienced from .the enemy ; While to the
latter it is a proof of our tigidimpartiality and pur-.
pose, ,to ael towards her as •we did to her .enemy,
under circumstances in some measure analagoaS.
Thus - has the present Chief Magistrate, in the
short period of eighteen months, had an ,upporiu-
trity, by the most emphatic and striking display of
.impartiality, to whew his•unbiassed and
,iniicxtble re-
gard for justice towards the two , colossal powers,
whose deadly feuds SQOeelily.dissurb the- repose of
the world. In the arrangement with Mr. Erskine,
this disposition was sliewn towards Great Britain;
it is now similarly exhibited towards France; the
same measure that was dealt out to one, is now ex-
' tended to the other ; men who are not- the veriest
of slaves of Party, must approve, in this last in-,
tance,, what they so warmly applauded in the
.former.

Will England follow, the example thus happily
set by France ? If she has a regard for her char.,c-
ter, tor her word, or for her interest, she must; her
character calls upon her to defend, instead ot op-
pf,:ssing, neutral rights ; her word has been repeat.
ediy pled-gd to rescind or revoke her Edicts, vio-
lating our neutral rights, as soon as France revoked
• hers, and her interests require her to maintain a good
utulerstanding, with her best customer. These con.
siderations ought to influence tier; she cherishes: the
hope that they will : but they may not. She may
mistake her interest, and in id-founded hopes and
calculations too little regard her character and wotd,
which may be sacrificed again on the altar of a false
.necessity. Under. the .uncertainty which hangs on
the future, our course is -fortunately obvious. Let
us value her goud will, and. by all proper mOna.

cAtivale it ; hut let vs value j:!st:ce
be prcpar:td %vial alacrity ;qi,l vip,o,Ar
rights against all aggre,:ionS upon
come from What quArter they will:

OLD BAILEY.

WEDNESDAY, DEC. 1.2.7--. SEVENTH DAY.

The Court proceed to. pass sentence.on e seva-
rat prisoners who were under conviction, and who
had not received judgment.
The.firsi put to the bar, werethe following jour-
neymen printers and pressmen, vie. R6bert Ho A7leir,
John Gee.,- WM.•Clitden, Stephen.B:ckeit, George
Westry, Stephen Hurley, Henry Byrne, T'ormis
Woolley, Robert Pa kin, Edward Risdon,
Williams, CoAbet .Latharn, Wtn. Coy, I.rrn2.s.- Ma-
cattney, John -Mackintosh,. Nicholas -Mal-
colm Craig, John Chapman, and 'John Simpson.
As soon as they were severally ca'kd over,
'The MtCORDER addressed thein. He otiserved,
that the offence with which they were charged, 'and
of which they were all found guilty, was one which
the law held in so ignomini,Les a•view, that horn the
moment •I he verdict was pronounced, they werelor
ever held infamous:. It was, an' offenje upon which.
the heavy hand of the law imposed the. heaviest
penalties, and the - most degrading
Their offence, too, was classed under the most ag-
gravating of this description. It was not a coot
spiracy to beiter their condition, it w..s• not a con-
spiracy to have their wages increased, or their in-
cume turd 'comforts improved, but, it was a cons
spiracy, ender colour of all thest., wickedly and
wilfully to ruin their eMployers, to destrop
the laudable' pursuits of honourable men: and to
overwhelm in • their machinations those whom
they were bound to protect by every tie of duty
and of gratitude. It was necessary, therefore, to
have it known to the world, that deeds like.thesc
should be met by pains :and :punishments adequate.
to their enormity, that, .by••the example made of•
them, others may be .deterred from rushing head-
long to the same% precipice, 'and from hurling ttmeit
innocent familie with themselves to inevitable ma.
For -these reasons the- Court, after the 1n0,.t ,enuos
and &liberate ~...derati6n of each of them' dis,
tindivciy,• ordered that Robert Howlett and John
Gee should be respectively imprisoned two years in
his Majesty's Gaul of Newgate, and be hoed- ts:
each, and be further imprisoned ail .that fine be
paid. •

7 • That WAlinin Clifton, Stephen Beckett,. and
George Westrey, be imprisoned in the lame gaol for
Ilse space of eigtlteen cdltindar months, and hued I s.
each.

. .
That Stephen Hurley, Henry Byrne, and Thomas
Woolley, be inprisoned twoilve calendar' Months in
the 'same gaol each, and pay the like fine.
That Robert Paskin, Edward Risdon,. William
Corbet Latham, Williana. Coy, .Fimes
Macartney„ John IV.lackintosh, Nathaniel Collins,
Malcolm Craig, John Chapman, and John Simpson,
should be imprisoned nine calendar months each in
the same gaol, and pay the like fine.
When this last sentence was pronounced, Macart-
ney having remarked that tiny
Shad been recott
mended by the. Jury to the merciful -c.wsideration
of the Court,. desired to know whether the sen-
tence was to bear date from the day of their con-
finernent ?

Tne RECORDER answered, that the Court was not
without taking into its consideration the recommen-
dation of the Jury, and therefore the punishments
were gradated accordingifr; but' nevertheless it wzto
the determination of the Court, in making such gim
dation, to order that the sentence should bear time
from this day, the day on which it was prono;nced,
--ad it was recorded so.

Woolley said, he had served the prosecutor) faith-
fully and conscientiously, and had left them accord-
ing- to the general *custom of the track, whitli had
be,:n.tbe:universpl practice for at least half a ce.ti
tory,

When the former prisoners were removed by the
Keepers from the Bar, the capital convicts were im•
mediately brought forward, when J. H. Hepburn
and William White, for a mast detestable offence,
and eighteen others, received judgment of death.
Hepburn presented a paper in the shape of a pe-
tition, which being read,
,Ovas a solicitation that 0)1
evidence of the approver Mann might be. re-con-
sidered, alleging that the whole. of it was a t:ssue
of falsehood. The Re.corder received it, but no other
notice was taken of it.

A great number of persons were ordered to. he
transported for various p!...tiods, and many were or-
dered
.to be publicly and privately whipped, and the
Sessions, was adjourned to Wednesday, the gilt day
of January next..

, •
SgpßllNG.—Beides the great watch betwixt CU:I-
-/lb/ilia/44z, that of Mr. MILTON engrosses its it'd
share of attention. The match is 'to tide to Stam•
ford (go miles) in five hours, and to be done within
17 days. Betting is against the.pertormance, as the
rider has to perform 18 miles in each hour; be will
go off the stones on
.a,-poney, will then mount a fleet
mare to Stamtord, and will have nine other horses.
ATTEMPTED SUICIDE.—EarIy yesterday morning,
a very respectable family in the neighbourhoodl4)l
Park-lane, was alarmed by the sudden indisposition
of a young lady, 23 years of age, the daughter of a
.merchant. . Surgical aid-Was procured, and the young
lady 'was suspected of having taken poison. A ves-
sel was discovered in which some arsenic had been
mixed, and powerful emetics' were administered. 'A.
part of the nauseous draught was extracted. . The
lady, however, is not expetited to recover. ,T.ie
cause of the rash a& is not known.

MARLBOROUGH•STREEL—A man of the name of
Field, was charged with cutting and maiming a
watchman, in St. Giles's, of the name jx e (vies,
yestertby morning. It appeared in evidence that
.the watchman had taken the prisoner's wife tor
felony,. and she is now in Newgate under
sentence,
for fourteen years' transportation. Early' yesterday
morning the prisoner attacked the' watchman on-his
be.it in St. Giles's,, with a drawn knife, and swore
to do for him and others; the prisoner made a
thrust at the prosecutor With his knife, and the latter
in avoiding it was wounded in tble hand. The pri-
soner was committed for ttirl.