The Sun.
London, England, 1845-04-30 00:00:00

during the last twelve months, to take into considera-
tion the propriety of petitioning the Legislature against
the intended interference of the Premier with the exist-
ing system of Ireland as well as Scotland. Under that
system these two portions of the empire had been per-
mitted to retain the small note circulation, which is on
all hands admitted to have been an essential and pri-
mary element in the development of that prosperity
and wealth, the growth of which, in Scotland
more especially, has been so rapid and so steady,
and which, in both the ens and the other, carries with
it so many indications of permanency. It will be
recollected that last year, not only at the commencement,
but both in the progress and at the termination of the
debates on that which we can never characterise as °thee
than the " disastrous complement" of his Currency Stan-
dard Bill of 1819, Sir ROBERT PEEL, in answer to the
numerous questions propounded to him on the subject,
over and over again distinctly intimated his purpose, this
session, to assimilate the law of Scotland and Ireland,
with regard to a small-note circulation to that of England
—that is, to make 51. notes the lowest paper issues.
We might not without impropriety deplore the needless
uneasiness and pain which Sir ROBERT'S long-continued
mystery on this question has occasioned. He has, in
this affair, carried to its extremest limit that secrecy of
intentions which no British Meister had ever before
pushed to the same extent ; but we will not quarrel with
him on that head. We sincerely rejoice at the fact of
his greatly modified intentions en this point. The
scheme of requiring monthly or other periodical returns
from Scotch and Irish banks of their issues is, in the
languago of Mr. Fox MAULE, " not so dangerous as we
expected." It " scarcely touches," as Mr. PATRICK
STEWART observed of it, " that most material question of
the low denomination of the bank-notes, about which the
greatest degree of alarm and dissatisfaction had been
created." Mr. HOME founded his approval of the scheme
on this very ground too ; for he " had come down to the
House expecting that the plan to be proposed would do
more, which, had it done, would have produced mis-
chief." And Mr. COLQUIIOUN'S approbation was won
by the same features of abandonment of the original de-
sign to withdraw the small bank -note.circulation, and the
general moderation of the rest of the plan, with the excep-
tion of one or two details, into which we shall not, on this
occasion, enter. Mr. WARBURTON'S question, although it
elicited a negative answer—namely, "whether it was in-
tended to allow banks that should have made excessive is-
sues (or issues to an amount beyond that which, on the first
average struck of their circulation, they are afterwards to
be limited to), to pay their notes, when 40s. in value,
in silver ?"—this question is also suggestive of some
important considerations that we may discuss at some
length hereafter, when we shall consider in what degree
it will be possible for the Scotch and Irish banks to make
those deposits of specie in the nature of guaranteed se-
curity for their respective circulations. On the Pre-
mier's own showing and figures, in his estimate of the
aggregate gold currency of the United Kingdom, and
from his answers to the significant questions addressed
to him by Mr. C. W ow), in reference to the continued
allowance of 255. notes to circulate in Scotland, and to
the calculation of the monthly averages, we feel no
doubt that, in practice, these deposited gold specie se-
curities could not be so made. On the other hand, we
have no fear—after the statement of Friday last, corn-
paring its proposals with his announced determinations
of last summer—that Sir ROBERT will be found squeez-
able enough on this, or any other points of exception
which such an influential and determined body as the
representatives of' the moneyed and banking interest of
Scotland have shewn themselves to be, may hereafter
take to specific details of his plan.
There is one very notable concession, if we rightly
collect Sir ROBERT'S meaning in a (somewhat obscure)
passage of his speech, of his extreme and overruling
principle of a deposited gold equivalent to be always
forthcoming on demand for paper note circulation. It
is, that he seems disposed to allow a large infusion of
the silver element into this specie " security." If we
are correct in our interpretation, we are glad of the fact.
The necessity for recognising such an inconsistency in
its action must go far to impress Sir ROBERT'S mind
with a clear, though it be a tardy, conviction of the
fallacy of his gold standard principle. If this be good
for anything, it must be good altogether, not partially.
It is an organic statute in his monetary legislation. To
relax its application, if enforced at all, is to demolish
the whole basis of controlling necessity upon which
alone he has ever ventured to rest so vast an interference
with existing contracts, and the value or wages of labour,
as is involved in the whole theory and working of his
bullion standard of currency. He so well understands
that unity is at once the indication and the essence of
truth, that such a deflexion from the base-line of his
system must prove to him its inherent fallacy. But are
we at liberty to augur any favourable result from, such
convi4lons, ho aver strong they may be. when. en the
face of' the forfeiture, the sacrifice of interests, mid the
destruction of property, and the fearful blow he has in-
flicted on the great community of industrial labour in
England and Wales, by his abolition of a small
note circulation here, and by his rigid en-
forcement of the convertibility of all paper
issues into gold at a pre-determined and
arbitrary standard of value, he permits, to Scotland and
Ireland, the very privilege he has thus withdrawn from
us, at so vast and still continued a sacrifice, admitting
that it is essential to their prosperity ? We will fain
hope that the day is: not far distant when some moral
force, of a nature like that which has been so honourably
and emphatically exercised on this occasion by the
gentlemen of Scotland and of Ireland, shall induce him
to extend, in the same matter, " justice to England," by
l we
pressure. The greatly fear must
the removal of his Currency Act and its " complement"
from the Statute-book. What such moral influence,
reckonings however,oonbe
da
ay grantedy
waitlohti to accomplish
externala
theco m
frenzied speculators of is
or hinternal
rail-
way share gambling are assuredly precipitating, and the
ominous aspect of some of our foreign relations, may but
too soon violently necessitate that which sound policy
and provident statesmanship would long ago have con-
ceded.

Madrid journals of the 21st instant have been re-
ceived. On that day a renewed discussion took place on
the proposition of Senor LLORENTE for a reduction of
the expenses of the coast-guard. The measure was op-
posed by the Ministers of Marine and Finance, and, on
a division, rejected by a majority of 64 to 7. The
Minister of the Interior presented a Bill to raise a loan
of 15,000,000 reals for the construction of canals and
roads.
The Three per Cents. closed at 35 3-16 for cash, and
354 at 60 days ; and the Five per Cents. at 25i at 60
days.

The French C h aamsbpeere
io of
IDelputies
i.hiatreprejected d be
rye
da
slai,ringeormdaujeolrliintyg.
bthye motion of M. Dozox, for the repres-
the present enactments sufficient, and the Minister of
Justice, M. MARTIN DU NORD, took the same view.
These laws, he said, from experience, had been found to
work well. Previous to the alteration of the law,
which took place in 1837, duels were more than
three times more frequent than since that perice-
In 1827 the number of persons killed in duels amounted
to nineteen, in 1828 to twenty-nine, in 1829 to thirteen,
in 1830 to twenty, in 1831 to twenty-five, in 1832 to
twenty-eight, in 1833 to thirty-two, and in 1834 to
twenty-three. In 1837 the Court of Cassation adopted
a new system of jurisprudence in respect to duels, which
was confirmed by the Legislature, and since then
the number of deaths was comparatively small.
In 1839 six duels were fatal, in 1840 three,
ilnB32l,Bw4hleresbixy,
the
en
law 0f1842 seven, and in 1843 six. M
A petition was presented by I. CnEmiEux from
Corsica, praying for the repeal of the law passed in
1816, condemning the BONA-
rAnTE family to exile, was confirmed, and the elder
branch of the BOURBON dynasty was also banished
from France. M. CREMIECX supported the prayer
of the petitioners, but was willing to except
from this measure of lenity the Duke of BORDEAUX, the
Duchess of BERRY, and Prince Louis NAPOLEON. The
petition was referred to the President of the Council and
the Minister of the Interior. We rejoice to find that
the Committee of the Chamber appointed to examine
the Colonial Bill, passed by the Peers in
favour of the slaves, had approved of the
principles of the Bill by a majority of eight
to One. The cause of the unfortunate slave
is now not only popular with the public,
but finds sympathy in the Chambers, and France, we
trust, will soon bring to completion the grant of eman-
cipation.

The Moniteur publishes the report of the Committee
upon arming the fortifications of Paris. The total num-
ber of cannon amounts to 2,208, and of these 982 are to
be placed on 16 forts, each fort so constructed as to be
capable of maintaining itself against an enemy, and the
total armament of the continued wall is reckoned at
1,226 guns. There are besides 50 Paixhans mortars,
independent of wall pieces and muskets. The whole of the
arms at present are to be deposited at Bourges. The Com-
mittee, however, are opposed to this plan, as they con-
sider the KING ought not to be fettered in the matter.
The KING, with the advice of his Ministers, has the
right of declaring war, and he should therefore not be
prevented from making such preparations as he may
judge necessary. These different points, however, have
yet to be settled by the Chamber, and the discussion on
the subject is anticipated with much interest. The
report thus concludes
" It is a fact that war in future will be transferred to the