The Sun.
London, England, 1842-05-07 00:00:00

THE CAUBUL MASSACRE,

The Alphabetical List of Caubul Officers (published in our
paper yesterday), was incorrect in the following instances :
Lieut. Hobhouse, H.M., 13th Light Infantry, omitted—
stormed a fort at the head of a forlorn hope at Caubul, early in
November (vide Lady Sale's Journal )
Skinner, Captain, 61st Native Infantry, missing, explained
by a note at the head of the list to mean " supposed to have
perished in the passes "—Commissary at Caubul, con-
cealed by his native servant, given up to the insurgents, em-
ployed by them in negotiation, and as interpreter, and well
treated up to the middle of January, never in " the passes."
Burt, Capt., sth Cavalry, reported in the Private Corre-
spondence of the Times, from the Delhi Gazette, as ransomed
and safe in Peshawur, omitted altogether.
The expressions " at Cabool," " safe," " at Baderabad," so
irregularly used, are calculated to give great uneasiness, and
lead to misconception. They only mean that the officer named
is alive, and a prisoner in the hands of the Affghans. The ac-
curacy of the meaning of the word " missing' may be judged
of by Capt. Skinner's case.
" Sturt, Lieut., Bengal English killed." There is no such
corps—" Engineers" is meant, only the officers of which are
English.

MISS BURNEY'S DlARY.—Although the leading
features of the third volume of Miss Burney's Diary and Corre-
spondence connect themselves with the period of her uninter-
rupted residence at the Royal Palaces of Windsor, St. James's,
and Kew, and relates her daily intercourse with Queen Char-
lotte, George 111., the Princesses., &c. of the Royal Family, we
find that even in literary interest and value, the volume will
compete with its predecessors---in virtue of the numerous cha-
racteristic traits and anecdotes which it furnishes of (among
otl'ers) the following celebrated individuals, none of whom are
introduced in the two volumes now before the world—vict
Jacob Bryant, the mythologist, Dr. Beattie, Bealjamin West,
Herschell and his scientific sister, Matthias, Dr. Kennicott,
the celebrated Hebraist, Swift, Mason, Young, Hume,White-
head, Sir Francis Drake, Dr. Roberts, Provost of Eton„
Madame de Geniis, Rousseau, Madame de la Roche, the cele-
brated Argand, &c. ; all of whom figure prominently in Miss
Burney's pages, without, however, excluding numerous others
to whom we were introduced in the first and second yolt tmes.

LITERATURE.
THE IJERBERTS. 3 vols.
Saunders and Otley, London, 1842.
The hero of this domestic tale, William Herbert, is
the son of a -country gentleman of ancient descent,
whose fortunes have been seriously impaired by the
extravagance of his immediate ancestors. At the
usual age hiS son William is sent to the University,
and as he is a youth of a shy, studious, and
thoughtful turn of mind, he is of course destined for
the Church, to which his own wishes' point ; but un-
fortunately before the period arrives for his taking a
degree, and entering into holy orders, his father
leaving his family in a state little short of destitution.
Under these circumstances, the widow, Mrs. Herbert,
is compelled, together with her two children, William
and Fanny, to quit the family estate of Alverley
Hall, and
take up her abode at a small cottage in
the vicinity, where they receive visits of condolence
from the gentry of the neighbourhood, who had
known them in their more prosperous days, and who
testify their feelings of commiseration in such an
insulting, worldly manner, as to realize the truth of
Rouchfaiteault's sarcastic remark, that " in the ma-
fortunes of our friends there is always some-
thing not displeasing to us." Having got over
the embarrassing feelings consequent on their removal
and altered prospects, the widow and her children,
finding that they have scarcely enough to provide
them even with the necessaries of life, decide that
William Herbert shall endeavour to push his fortune
in the world ; and accordingly the young man, with
whom the project has originated, quits home with the
view of seeking some of his father's old friends, through
whose good offices he might be enabled to complete his
terms at college, and obtain priest's orders. The first
person on whom he calls is an old Tory Baronet, whcs
gives him a cordial welcome, until he learns the re-
verses that have befallen him, when he suddenly be-
comes cold and formal in his manner. In thr• hope
of meeting with kinder treatment, William Herbert
next calls on a Bishop ; but the Prelate, on being
made acquainted with his distressed circumstances,
acts precisely in the same manner as the Baronet.
The details of the inexperienced, sanguine you'.4
man's interview with these two worldly personages,
are true to the life, though they certainly do not lean
to the sunny side of human nature. After a severe
struggle with himself, William finally decides on
abandoning for the present all thoughts of the
Church, and, with hardly a penny in his pocket,
goes to London in the forlorn liope of winning
fame and fortune as an author. We need not add,
that he is disappointed in his ambitious expectations;
having no name and no connexions to back him, the
publishers refuse to have any thing to do with his
schemes, and he is driven to a variety of shifts, some
of them painful and humiliating enough ; but by one
of those sudden turns of the wheel of fortune, which.
are of such constant occurrence in fiction, but 50
seldom
.heard of in real life, the young, penniless, but
high-spirited literary adventurer attains to etr.,e and
competence, and, what he values still mom', :s enabled
to enter the Church, where he speedilzi, • %acquires dis-
tinction as a preacher. There is ay+. Apisode in the
story, which relates to certain love passages in
the life of 11'Herbert, who•,- it seems, has formed
an ardent attachment to 4 yowng lady, Mary Walton,
in which he is disappoinWt, but which has the effect
of bringing out all the finer qualities of his natures
and so far works but the author's views of character ;
though otherwise the episode is a tame one, and is
certainly not remarkable for depth of sentiment.
But indeed feeling is by no means one of the redeem-
ing merits of the story ; in this respect it is more
than ordinarily deficient, and must trust for success
to its calm good sense, and its frequent shrewd insight
into the goings on of every-day life. The opening of
the narration is somewhat prosy, and the author is too+
fond of imitating Fielding's manner in his introduc-
tions to his several books of " Tom Jones."

PRINCIPLES ViTa
ePL hadE SI
i(n)gF
111)e/foOr/eVEjaa.cs.ome Byti ,
ke tlrma,odeo. r
three pamphlets "on w'oney mid the currency,"
which other and mere temporary presing matters
have prevented '!s from noticing. Mr. Wade's
pamphlet, to "which we now first tittend, is written
with his us`aal diligence and care, and contains, in an
aPPewl'Ai some valuable and statistical documents.
gives a short and neat history at the beginning
of some of the most remarkable incidents in the
history of the English coinage, subsequently adverts
to the evils of our present system, and suggests one
bank of issue, under one authority, as the remedy
for the evil. Without entering at length into this
thorny subject, we will recommend Mr. Wade's
pamphlet to our readers, while we must avow that
we differ entirely from his premises and his conclu-
sions. Mr. Wade, in his account of the prerogative of
coining, overlooks the most material fact in
our present condition, namely, that the Govern-
ment, though it determines by law the relative
value of gold and silver coins and decides their form
and size, does not interfere with the supply. They,
and every person, can export and import bullion, and
have it coined at the Mint. Thus the most im-
portant element, the quantity of money, is entirely
left to be supplied by commerce, and with that the
prerogative of the Crown does not interfere. Again,
paper money is exclusively the offspring of commerce;
and to propose, because ignorant and ambitious Go.
vernments have usurped a control over it, to sanc-
tion that, by placing the issue of paper money in
the hands of a body appointed by Government, is, in
our judgment, to extend the exercise of that
power which all experience shows is quite in-
adequate to execute the numerous functions already
attributed to it, and which has continually and com-
pletely failed to execute successfully what it had un-
dertaken. We do not assent to Mr. Wade's doctrines;
but his arguments, like everything which proceeds
from his pen, are clear and precise.

MONEY SHOULD BE THE SERVANT OF
THE PEOPLE, AND NOT THEIR MASTER
By James nylor, of Bakezvell.

The title of this pamphlet is excellent, the contents
extremely poor. We can figure to ourselves nu-
merous examples of individuals, of lawmakers, and of
States becoming the slaves of gold, instead of remain.
ing its masters, but not one of these does James
Taylor, of Bakewell, advert to. He is wholly
taken up with a currency scheme of his own, show.
ing, that gold is pretty much his master, but
to not one of the instances illustrative of the
manner in which man has forgotten the precept
which constitutes the title of his book, does Mr.
Taylor advert. In fact, his pamphlet is chiefly a
recommendation of a petition which he presented to
Parliament, hi 1830 ; but though he has revived the
forgotten document, that is no proof that the public
will thank us for bringing into notice. We pass
on to

REMARKS RESPECTING CURRENCY A2VD
BANKING. Murray, London.
This is a pamphlet of a totally different chnrac-
ter from the last mentioned, the contents being
much more valuable than the title is striking. The
author stigmatises as incorrect the notion that our
circulation must be regulated by the exchanges, ex-
poses the error of those who ascribe a rise and fall of
finance exclusively to the action of the currency, and
points out with historical detail and accuracy the
consequences of the conduct of the Bank of England
under the influence of the mistakes which the
author corrects. The remedies which he sug-
gests for the evils of the system are extremely
simple; namely, a legislative enforcement of large re-
serves, to be held by banks in proportion to their
liabilities, and frequent and universal exchange
of their paper. The author we take to be a, man of
enlarged views, who is at the same time more a prac-
tical man than a theorist. His pamphlet is a con-
siderable accession to our knowledge of the effects of
our banking and currency systems, and will repay the
trouble of perusal.

BLACKWOOD'S STANDARD NOVELS.
Blackwood, Edinburgh and London, 1842.

In this varied and entertaining collection we have
some of the best works of fiction that have appeared
during the last twenty years and upwards. Seven
volumes have. been already published, containing
Gales novels of the " Ayrshire Legatees," " Sir
Andrew 'Wylie," the " Provost," and the " Entail ;"
Captain Hamilton's "Cyril Thornton ; Lockhart's
" Valerius ; and Michael Scott's " Tom Orin-
gle's Log." Of Galt's tales, the best de-
cidedly is the " Entail," if only for its portrait of
Leddy Grippy, than whom, Sir Walter himself never
penned anything truer to life—more original in the
conception, or more exquisitely felicitous in the execu-
tion. We should as soon dream of forgetting this
shrewd Scottish housewife, with her dry,grave humour,
her constant apprehension ofbeing taken in, and her vigi-
lant, incessant attention to the interests ofnumber one, as
we should think of forgetting Shakspeare's Jack Fal-
staff, Burns's Tam o Shante r, Sir Walter Scott's
Dandie Dinmont, or any of those -marked, indivi-
' dualized characters which have made a deep impres-
sion on our minds. Galt here attained his highest
point of excellence ; he wrote many subsequent fictions,
but none, however meritorious, that catald bear compa-
rison Thornton"
em"Lnsttari
striking
nIgI a mmiill ot
an;
ys
ti files in the lan-
risisooinieWo•iftltiitihe
guage, and will furnish the reader with a vivid idea of
the character of the Duke of \\Telling ton's Peninsular
campaigns. Of " Tom Cringle's Log," which first
made its appearance in the pages of Blackwood's
Magazine," where it at once attracted general atten-
tion, it is enough to say that, as a sir t tale, it is superior
to any of Howard's or Capt. Ma rryat's, and every
way equal to Cooper's "Pilot," or "Red Rover:"
Lockart's " Valerius, though hes xy as a whole, has
passages of exceeding vigour and Elcluence, and in its
present cheap and commodious fon n will, no doubt,
be much more generally read than b eretofore. These
novels are each comprised in on. six shilling duo-
decimo volume, which appears monthly ; is neatly got
up, and embellished with suitable.!engrayings.

4

and la clamour is sought to be raised against them for
doing so.

-
SPIRIT of the PUBLIC JOURNALS.
FROM THE EVENING TAPERS OF THURSDAY.
GLOBE.—There were two dangers in passing
such a measure as the Reform in Parliament ;
.one of
which may be deemed to have been surmounted, but
the other still threatens us. The danger which then
appeared most imminent to the opponents, or timid
friends, of the measure, was that its passing would
open the floodgates of unlimited and irresistible
change. That the Reform would not be a "final
measure"—understanding finality in the sense in
which alone honest interpreters ever construed
the expression—i.e. that its principles, and leading
provisions, would not continue to be regarded,
for' the ordinary term of things human, as a
settlement of the question professed and intended to
be settled by its passing—and, for the sake of settling
which with some permanence, a large measure was
proposed for adoption. If the statesmen who passed
the Reform had proved unable to resist the urgency of
the movement party for a second Reform Bill, and if
it had proved possible to push through a " Reform of
the Reform Act," by aid of the pressure from without,
we have no hesitation in saying that the greatest dan-
ger would have fallen on the country which alarmists
could anticipate, or revolutionists could desire. We
have been saved from that danger at some expense of
popularity to the statesmen who resisted it, amongst
that class who claimed an exclusive right to the title of
Reformers, because they set no limit to change in the
form of our institutions. But there was another
danger, besides that of reforming too much in one
direction. That, indeed, we believe was the greatest
danger which then threatened us. The " balance
of power" has been treated as a chimera by some
politicians, with whom the fact that any 'doctrine in
politics, as in morals, was held before Bentham, is
quite sufficient reason for disbelieving it. We conceive
that doctrine expresses an important political truth, and
that it is precisely the destruction of the balance of
power, and the creation of an absolute power in one
order of the State, which is the danger to be guarded
against most carefully in all organic changes.
Whether the order to which all power is practically
transferred by such change is aristocratic or demo-
cratic, we conceive that mischief is only done by the
very fact that an absolute power is created in any
quarter. The question then is, whether giving
up the Reform Bill as no final measure of
organic change—and surrendering the amended Par-
liamentary system to a new Radical remodelling,
would have been, or would not have been, a virtual
avowal that one order was to be absolute in the State,
and that its dictates were to be irresistible by the most
solemn decisions of the whole Legislature: We are
not in the habit of dissembling our views on these
questions, and we say plainly that such an admission
of 3 second change, on pure democratical principles,
would have been—would be—in our view equivalent
to the most violent revolution which could possibly
take place in any old and established empire.
STANDARD.—Fastidious critics may quarrel
with the style- of the Kidderminster operatives' ad-
dress, though, as it is much easier to discover faults 1
than to amend them, such critics might be at a loss
to write better ; and, at all events, the evidence of
strong sense, calm thought, earnestness, and sin-
cerity, the best qualities of any composition, is too
plain in the address to leave any excuse for cavilling
at style. Such an address, proceeding from a
body of 1,367 men, in no very high' rank, earning
their daily bread by daily labour, is a gratifying
testimony to the truth of the proposition which we
are proud to have always maintained, whether against
Whig-Radicals, 'who looked with hope of evil to the
education of the people, or against Conservatives, who
looked with apprehension; our proposition is, that
all Englishmen, at all times, and in every rank, are
essentially the same—alike benevolent, reasonable,
and just—and that consequently the 'more they are
instructed, the more strikingly will these noble cha-
racteristics be manifested. The excesses of popular
violence in other countries, and of the very ignorant
in our own, instead of proving that it is dangerous
to educate the labouring classes, really prove the very
reverse. Education is power; and power acquired
by men will be exercised according to their nature.
The very moment you educate an Englishman up
to the point that gives fair play to the understand-
ing, you attach him to the institutions of his country,
because you show him that these institutions are the
best calculated that circumstances will permit for the
moral as well as physical well-being of the whole.
Hence the phenomenon that, with as much party spirit
as exists in any nation, or probably more, England
never gives a deep root for faction. The people love their
cerentry and its institutions, because they love what is
good and just and wise. They may, as all men may,
be perplexed by conflicting theories, as to the best
means of' promoting the common prosperity ; and they
may, as well as all men may, be deceived in the cha-
racter and designs of those who claim their confidence ;
hence party spirit, sometimes wrong, often violent.
The intuitive good sense of the nation is, however,
always a sufficient guard against the spirit of faction
to any considerable extent; and, as in the case of the
Chartist petition, the grossest frauds must be first
committed to entrap the more ignorant into the ap-
pearance of a factious spirit, and equally gross frauds
to magnify the appearance, when 'obtained, into any-
thing like a formidable character.
(FROM TUE EVENING PAPERS OF YESTERDAY.)
GLOBE.—If the Secretary for the Home Department
had been content to appoint, and defend his appointments,
on the ground of inefficient or partial administration in
any locality—on the ground of invidious omission of
particular individuals—there could hare been no objec-
tion to his acting as such cases would justify ; but he
does not allege any such misconduct. He does not plead
any such motives. He asserts what is justly designated
as a principle new to the constitution—a principle, we
must add, -likely to be highly injurious in its operation
to that impartial administration of justice which Claims
his care. That the Right Hon. Gentleman will not appoint
brewers, or atterneys, or clergymen—that here or there he
will set aside one individual, or add another—there
would be no attempt to question this or that exercise of
discretion on his part • or at least to question it
on such grounds as we ;hill's are now fairly brought
against him. It was studiously stated by Mr. Hutt, and
the subsequent speakers, that it is not the appointments
that are individually challenged, but the wide sweep
of the principle on which so large a number of new
appointments are made. Sir James Graham may dis-
claim the intention of " swamping " the opposite party ;
but he has nevertheless taken care to do so in several in-
stances, where it is stated that, happily, little party feel-
ing had hitherto existed. He has taken care these places
shall enjoy no such exemption in future. What is more,
he has avowed the principle of regarding impartiality as
impossible ! We have frequently, of late years, seen mu-
nicipal Magistrates, who had previously been considered
to hold opinions designated as " extreme," acting with not
less vigour than the most Conservative bench could have
done in suppressing disturbances excited on political
pretexts. Indeed, we have seen them act with much
more vigour than those Bristol corporators whom the
late Government are accused of having passed over in
their appointments. Now is it not a spectacle much
snore conducive to public tranquillity—the unanimity
in supporting the laws which has been shown re-
peatedly by such gentlemen—than the spirit of party
Jealousy, or of shirking responsibility, and throwing
it on the party which is usually deemed anti-popular
—which it may now- be feared will be shown
by some of the former majorities in the Magistracy ?
Is it not to be feared that men who (you take for
granted) will act unjustly, unless their numbers are
swamped, or balanced—may be now indisposed to art at
all on occasions where their energy and popular in-
fluence might have been highly serviceable? We do
not say that this will be the case. We hope it will not
generally. But We say that the Home Secretary seems
really to have done his best to make it so. The opera-
tion of his principle, which, we trust, will be less sweep-
ing than its statement, must be to divide responsibility
between parties, where it were better left undivided,
and provoke men to act wrong from party spirit, or
party jealousy, where they were likely to act right
enough, if they only were let alone.
,STANDARD.—Mr. Hutt involved the House of
Commons last night in a long and somewhat interesting,
but not very profitable, debate. The subject of this
debate was the appointment of municipal Magistrates by
the present Ministers. Now the merits of this question
lie in the narrowest possible compass. If it be conceded
that the late Ministers acted with _the most perfect
impartiality in the selection of municipal Magistrates,
distributing the power of the Magistracy so equally
as that no one hail ground to complain of a prefer-
ence of one political party over another ; if it
be conceded that the late Ministers acted in this
manner, there can be no doubt that their successors
ought not to interfere with the commission. But if it
appear, on the other hand, that the late Ministers loaded
the commission with their own partisans, with the most
flagitious contempt of impartiality and the public inte-
rests— if this appear, as appear it does, then it was not
merely the right but the peremptory duty of the pre-
sent Ministers to repair the monstrous wrong. It
is on this ground that Sir James Graham and Sir
:Robert Peel defended the new appointments,
and this ground is impregnable, Somebody stupidly
called this defence a tu quoque defence, as if Sir Robert
Peel's Cabinet descended to justify its acts by the dis-
graceful precedent left by the Melbourne Cabinet ; but
to redress an unjust balance is not a tu quoque pro-
ceeding—an excusing one er:me by another. When
the law hangs a murderer, the law does not
plead the tu quorjue' though literally it might.
When Lord Denman signs a judgment, say in
an action of trover, he does not avail himself
of the tu (poetic principle, he merely restores to the
owner what a wrong doer took and retained unjustly,
not imitating the injustice, but extinguishing it. And
this is precisely the case with the new magisterial ap-
pointments of the present Ministers. They found the
municipal benches of justice in a disgracefully
partial state—they have made them impartial by
the gentlest of 'the only two means within their
reach : instead of striking off the . Radical excess,
they have equalised parties by a. due addition
of Conservatives, without giving, as they might
easily have dyne, a preponderance to the latter. This is
the whole matter, which occupied the House of Commons
last night, and we are quite willing to leave it to the
public judgment, and to give to the late Ministers all
the glory theT can reap from the exposure of. their
crime, for this-in truth is the subject. matter_ of all the
speeches. The late Ministers committed a disgraceful
erima; the present Ministers have neutralised its ill effect,

DONATION TO UNIVERSITY

COLLEGE.

At the distribution of prizes to the students of the Faculty
of Medicine of University College, which tool place on Satur-
day last, Lord Campbell, who presided, announced to the meet-
ing a donation by Lord Brougham, of above one hundred
books, printed by the Government press at Cairo, which
had been presented to his Lordship by Mehemet Alf.
The letter of Lord Brougham, which accompanied the dona-
tion, and which, with the exception of the first sentence, was
read by Lord Campbell, was as follows :
"My dear Lord Campbell,—l am happy to find that you
have undertaken to preside at the University College to-
morrow. You have, indeed, from its foundation been a steady
and a useful friend to that Institution.
I take this opportunity of requesting that I may be allowed
to present to the College a collection of books which the
Bashaw of Egypt did me the honour to send me about
eighteen months ago. They are a set of the works, above
a hundred in number, which have been printed at the Go-
vernment press of Cairo ; and the catalogue of the greater
part of them, which you will receive to-morrow morning,
shows that they relate to various branekes of the arts
and sciences, and letters. I feel assured that his Highness
will think I have employed his gracious kindness in the
manner most useful to us, and most honourable to him
when I make these volumes accessible to students who
can turn them to account. That Sovereign has always shown
a strong disposition to cultivate a good understanding with this
country as far as our policy would allow him, and he has, I be-
lieve, without any exception, been favourable to a friendly in-
tercourse with our countrymen individually. That he stands
eminently distinguished among eastern princes by his exertions
for the ducation of his people, these works serve clearly to prove.
I may add, that not more than six or seven appear, by the
translation of their titles, to relate to military subjects. Be-
lieve me, ever sincerely yours, H. BROUGHAM.
" Grafton-street, April 29, 1842."

GREAT FOOT RACE,
FOR ONE HUNDRED POUNDS, BETWEEN " THE
STAG" (JENKINSON) AND JOHN SMITH-DIS-
TANCE A QUARTER OF A MILE.
This match which took place on Thursday, at the Swiss Cot-
tage, St. John's Wood, has for a considerable time interested
the amateurs of pedestrian feats, on account of the supposed
extraordinarary capabilities of the men. Jenkinson, better
known by his cognomen of " the Stag," has been very suc-
cessful in his various races, but was defeated in his last
undertaking, to run two hundred yards, by Moore of
Leicester. Smith has not so often proved his fleetness in Lon-
don, but, from the power he displayed in the celebrated match
with Atkinson, of Newcastle, found plenty of friends willing to
invest their money upon his exertions. The men started at
five o'clock, Jenkinson having the advantage by at least 2 yards,
Smith waiting upon him until about half the distance from home,
when he shot by with the speed of an arrow, and won the race,
leaving his antagonist seven or eight yards behind. The affair
appeared to afford much gratification to a large concourse of
spectators, including many sportsmen of the higher order, who
have latterly patronised this innocent and fine old English
amusement. The quarter of a mile was run in less than a
minute ; and the betting, at starting, was 6to 4 on Smith.

MORTALITY in the METROPOLIS.

The following are the results of " A Table of Mortality in
the Metropolis, showing the Number of Deaths from all Causes
Registered in the week ending April 30,1842." The Table is
issued from the Office of the Registrar-General:—
Weekly
Average
1838-9-40-1
CAUSES OF DEATH. Total. 1----.--1
Four I Four
Springs.lYears
Erdemic,Endemie, & Contagious Diseases 120 183 190
Diseases of the Brain, Nerves, and Senses 144 147 149
Diseases of the Lungs, and other Organs of
Respiration ..
Diseases of the Hea•t and Blood-vessels
Diseases of the Stomach, Liver, and other
Organs of Digestion
Diseases of the Kidneys, &e
Cbildbed, Diseases of the Uterus, &c 4 9 10
Diseases of the Joints, Bones, and Muscles 4 6 6
Diseases of the Skin, &c 4 1 1
Diseases of Uncertain Seat 93 99 104
Old Age, or Natural Decay 6l 63 69
Deaths by Violence, Privation, or Intem-
perance
Causes not specified
Deaths from all causes. 783 --
Average Weekly Deaths B7l 912
Population Average Death
enu- Weekly in
DISTRICTS. merated Deaths the
Ib4l. 1335-9-413-1. Week.
West—Kensington, St. George r -----^---1
(llanover-square),Westmin- Four I Four
ater, St. Martin in the Fields, Ye rs.l Springs.
St. James

North—St. Mary-le-bone, St.
Pancras, Islington, Hackney 365,660 162 156 138
Central—Saint Giles and Saint

George, Strand, Clerkenwell,

Holbo-rti, St. jike, East Lon._

don, West London, City of
London - 373,806 188 17p 165

East—Shoreditch,Whitechapel,
Bethnal Green, St. George
in the East, Stepney, Poplar 392;495 206 190 158
South—St Saviour, St. Olave,

St.George(Southwark),Ber-
mondsey, Newington. Lam-
'beth, Camberwell, Rother-
hithe, Greenwich .............438,060 221 210 193

THE SUN, LONDON, SATURDAY AIORNINCT, MAN 7, 1842.

ON OUR FINANCIAL
DIFFRAILI lES.
The following is the remedy proposed by General
Sir George Cockburn, and submitted to Sir R. Peel
in August, 1841, to which we lately directed atten-
tion:— _ _

Sir,—On the subject of our financial difficulties we
must recollect as follows :-
1. The great public or national debt.
2. The interest of it, and the expenses of our civil,
naval, and military establishments, requiring such
great taxation that it' is impossible to push it further
without an Income or Property.tax, which r, 10 per
cent. during tLe late war only produced 10,000,0001.
a year, and, at 5 per cent. (a large demand in time of
peace), it might possibly be estimated at 5,000,000/.
but if it produced that, those who had to pay it must
and would dimish their taxable expenses, in short,
would be obliged to do so, for I take it as an axiom,
that taxation, including poor and county rates, &c., is
almost at a maximum.
3. Our expenses, from various causes, are every
year increasing, and our revenue diminishing.
4. The Government, or the nation, owe the
Bank of England £11,000,000
Bank of Ireland 3,000,000
Savings Banks...
Outstanding Exchequer Bills
• The deficit legacy left by the Whigs 3,000,000

Total £30,000,000

We must now consider the paper money in circu-
lation, and payable on demand, or convertible into
gold, viz. :
Bank of England £16,615,000
Ditto, private banks' (England) ... 8,614,132
Ditto, joint stock (England)
Bank of Ireland
Private and joint-stock (Ireland)
Banks of all sorts in Scotland 4,000,000
The deposits also payable on demand
on the Banks of England and Ire-
land

Total..

.. £52 133,896

I must observe here, that in 1794, according to
Lord Hawkesbury's secretary, Mr. Chalmers, the cur••
rency is stated at 20,000,000/. gold and silver, and
bank notes payable on demand 60,000,000/. Total
in circulation, 80,000,000/. ; and, as Paine observed,
enough to overpower the credulity of the most stupid
man, for the banks could not pay even one half-crown
in the pound on one-third of that sum in hard cash.
The Bank of England return above is to the 26th of
May, 1841, pursuant to 3d and 4th William IV., and
the others from returns in 1836 ; and within the last
five years the coining of notes has much increased,
and therefore we may; estimate the total paper circu-
lation in England, Ireland, and Scotland, at the fright-
ful fictitious circulation. 50,000,000/. (mind, notes
only, not other liabilities) ; to deal with which,
By the return in May last, the Bank of
England had
The Bank of Ireland, and all other
banks, we may estimate as having, pos-
sibly, 1,500,000

Total £6,421,000
I have gone through two large volumes, viz. "Re-
ports of the Secret Committees, ordered by the House
of Commons," and before I proceed to my remedy, or
possibly only palliative, I beg to call your attention
to the following remarks of the said Committee:—
" It was under the consideration of your Committee
whether the law and the practice which they have de-
scribed did not require the interposition of the Legis-
lature during the present session ; they have been led
to decline pursuing this course, because their inquiries
are incomplete, and because they feared that more in-
convenience might have resulted from an imperfect
measure, than from allowing the evils of the present
system to continue. The right of the Legislature to
interfere, not only in respect to banks to be established
hereafter, but in respect to existing establishments
also, is a principle which your Committee are prepared
to as3ert in the strongest manner."
It is plain, from the above statement, that the na-
tion depends on millions of paper currency nominally
convertible into gold, but fortunately not asked for in
any considerable quantity, the public having still a
confidence in .paper, notwithstanding its enormous
quantity and many failures.
Paper riches is a delusion which cannot last for
ever, and the amazing increase of the paper currency
now in circulation exposes England to a tremendous
bankruptcy, and has also the effect of banishing real
money.
If we touch on Bank deposits, and such liabilities,
I dare say they would say they had securities ,to more
than the amount ; but the reply is, bow much of them
could be realised, if the Bank were seriously called
on to pay in coin ?
As to any evil from my remedy, it can only affect
monopolists ' • and unless the Government deal with
the national debt as they ought, and with a master
hand, and with moral and political courage, no re-
medy can save the nation, now so embarrassed, I may
say, in almost every point- with difficulty. •
The Government ought at once to dissolve its part-
nerships with the Banks of England and Ireland, and
the Treasury ought to entirely manage all the money
concerns of the nation, and particularly as to coining
or making a legal currency, whether of gold, silver,
paper, or all. To enable it to do this, it must pay the
debt due to these two Banks, and which amounts to
14,000,0001. sterling, and which I shall presently
show can be done ; next, as the Crown is constitu-
tionally the coiner of the nation, if we must have
paper coin, it should be a national one, and not by
companies, who get all the profit instead of the Go-
vernment. Moreover, a national currency would be
safe, whereas that of bankers is very unsafe.
I propose,
an Act of Parliament to make
it illegal forany banking company whatever to issue
any note payable on demand, from and after a day to
be named ; and as to all outstanding Bank of Eng-
land or Ireland notes, to enact, that from and after
six months it should be illegal and penal to issue or
traffic with them, and the same as to all private banks
in four months.
Next; to enable the Lords of the Treasury to issue
30,000,000/. of notes as follows, and to make them a
legal tender, and which would enable them to pay
their debts stated to the Banks of England and Ire-
land, and savings-banks, and take up the 11,000,0001.
of Exchequer-bills out, and the Whig deficit legacy
of 3,000,0001., and this currency being made a legal
tender, the banks would so far pay their liabilities
with it.
It would be taken for taxes, it would, in fact, be a
loan of the nation to itself without interest, and would
surely be preferred by any one to any banker's notes.
Of course there should be provision against any larger
issue without consent of Parliament, and there might
even be a bow fide sinking fund of 1,000,0001. a year,
not a humbug one to keep up the price of stocks, but
to bona fide pay off so much every year. I would
issue as follows--no note for less than 51.

Notes of ...... 5 Notes of 2OO
Ditto ........ 10 Ditto
• Ditto .........25 , Ditto
Ditto
Ditto
Ditto
These notes to be issued so as most convenient, and
making in all 30,000,000/., and those of 1,0001. or
upwards to be on parchment.
At present, even with the quantity of paper money,
the complaint is that our circulation is too small,
though 1 prove it to be a paper one of 55,000,0001. ;
and, if we prohibit all this by
,banks of all sorts, and
give it to the nation, it would be an issue of sound
paper; and if 20,000,0001. would not be sufficient, as
the currency mould be lowered by 20,000,0001., then,
to please r. Attwood and others, let Government
issue 20,000,000/. more, and with it pay off so much
of the debt; thus the nation would de facto have
a
paid up in full, and no 601. or 70/. to re-
ceive interest ; and on this alone there is a
g cent. to the nation, and thus the nation
would be relieved from so much taxation, and it is
alianrg o•
le
fo loan3ool.
p ande r
vain to expect much higher.
As I have shown the circulation to be in England,
Ireland, and Scotland 44,000,0001., if all other notes
but those issued by Government were abolished, a
currency of 30,000,000/. might be thought too small,
and if so, it would be easy to issue the 20,000,000/.
more,
and pay Off so much of the debt with the same,
not at par ;
but certainly if paid at 80 per cent., or
choice of reduced interest, it would clear 0ff30,000,000/.
at all events, and I
contend that whatever paper money
is in circulation it ought to be a national one, i. e. by
the Government ; and, whatever it is, it is equivalent
to a loan without interest, and one paid up in full.
No doubt, my remedy may appear to be a very bold
one, but the times and circumstances of the country
require such, and if we go 011 (though badly) with a
very doubtful paper currency, I ask would not a
strictly national one be preferable ? I may be told
that this is coming again :to legal tender ; and also,
what can I propose if every one runs to the Treasury
for gold ? I answer, as they do not do so now to the
banks, as is notorious (though we have such a paper
currency, and issued by 100 different companies, is it
to be believed that they would do so for a limited and
certain one of 30,000,0001., or even 50,000,0001. of
Government paper ? Besides, though I would make
the notes legal tender, I would make the 51., or pos-
sibly the 10/., to be ,paid in coin on demand, and if
(as we see) the Bank of England alone can meet the
demand of payment in gold for their 17,000,0001. of
paper out, which by law at present they must pay in
cash if demanded, it would be strange indeed if' they
would do so to the Treasury.
I am now, as you will perceive, meeting objections.
Bankers are all paper monopolists, and very dan-
gerous ones ; fOr, after all, who knows how much
they coin ?
'he Bank of Ireland carries on this trade bysteam,
and a very nice machinery it is, and a bank-note for
5001. or 1,00001. is as easily coined as a 1/. note.