The Sun.
London, England, 1845-12-03 00:00:00

THE CURRENCY.

Amid the multitudinous din of Corn-law repeal,
railway and potato panics, and other agitations which
prevail, we hear the clear and steady voices :,‘.f Some
thinking men raised to direct public attention to Our
national system of currency as an evil of far greater
magnitude, and requiring more immediate reform than
any other subject of public administration. More
numerous and more frequent do these voices become
every day. In almost every one of the numerous
papers which have sprung up in support of the railway
interest do we find able disquisitions on the subject of
currency, in which the recent panic or sudden check
which has been given to all enterprise, and the conse-
quent indiscriminate depreciation of railway property,
are clearly traced to the mischievous operation of our
money laws, and to the designs of selfish and interested
parties, who profit and enrich themselves thereby at the
expense of the general body of the community. Several
of the provincial journals follow in the same strain.- In
assemblies of commercial men accidentally brought to-
gether the subject is often mooted ; and in societies
where public debates are held (for instance, in the
Coger's Hall, in St. Bride's-lane, in this City), it is a
theme of discussion which excites equal, if not
greater interest, than the repeal of the corn-laws. In-
deed in this Hall it is felt that the two subjects of corn
and currency are co-relative, and that no legislation
should take place respecting the one without the other
being included. On this point the editor of the
Bankers' Circular, of the 28th ult., says, "Firm in our
own faith—rendered additionally firm and conclusively
fixed by the circumstances and events of this period of
time, we have a thorough conviction that a Short ex-
perience of free trade, under our existing monetary sys-
tem, would cause all the manufacturing districts to pray
for a deliverance from the effects of free trade." And
if we may judge from the resuscitation, during the last
few days, of Sir James Graham's celebrated pamphlet on
Corn and Currency," by the Times, and the comments
of the editor thereon, that leading journal coincides in
opinion with the Bankers' Circular. It is generally sup-
posed that the Times is the organ of the bullionist
party. But we cannot suppose it is ready wholly to sa-
crifice the landed interest of the kingdom ; and, there-
fore, if the corn-laws be doomed, we infer that it
would become the advocate of an amended cur-
rency adapted to such an altered state of things.
Under this view, its recent articles, which it promises
to continue, may be regarded as a prelusory to a future
decided advocacy of an amended money law whenever
the proper time arrives. It is not only in the daily and
weekly journals we find these indications of a growing
opinion that our present system of money is un-
sound, but in those more deliberate emanations of the
press, the monthly and quarterly periodicals, in one or
)ther of which thereis always one or more articles con-
demnatory of Sir Robert Peel's monetary legislation—
never any in favour of it.
All this is beginning to have its effect. There can be
no question—indeed, we know—that many members of
the League are convinced of the pernicious influence of
Peel's money laws, but refrain from diverting the atten-
tion of that powerful body from the single object they
have in view, and which they have have so strenuously
and undeviatingly pursued.
But what is of considerable importance is, that in the
Conservative Clubs at the West-end the subject has
been introduced ; and in the agricultural protection
societies there are many of the most intelligent of these
bodies who are now thoroughly satisfied that the policy
of the agriculturists clearly is, that in the event of Sir
Robert Peel attempting to remove, or even in any degree
further to lessen, protection, they should insist contem-
poraneously for a reform of the currency.
To the persevering efforts of Mr. Thomas Attwood
and the Birmingham economists to awaken public at-
tention to the enormous wrong inflicted on the people by
Peel's restriction of the currency—to the enlightened
and philosophical writings of Mr. John Taylor, by far
the most learned and luminous writer of the day on the
subject—and to the disinterested and patriotic proceed-
ings of the Society for the Emancipation of Industry,
established for the purpose of diffusing knowledge of his
principles, and bringing them to a practical bearing, are
we indebted for the progress which has been made in the
public mind in arriving at clear notions on the subject,
and for those symptoms which betoken the adoption, ere
long, of a totally different system of money from what is
at present established.

The discussion brought on at the close of last session
of Parliament by Mr. Spooner and Mr. Newdente, is to
be renewed early in the ensuing session ; and we-anti-
cipate not merely the adhesion of a numerous body of
Members to their views, but a very great excitement out
of doors on the subject, for every day a knowledge of it
is spreading not only in the middle classes, but amongst
working men, by means of those journals which are po-
pular with them, and in which the "futal" effects
of our present currency on the industry of the country
are illustrated in a very talented and lucid manner, de-
noting a thorough knowledge of the whole subject on
the part of the conductors of these journals.
It will be recollected that, in the course of the debate
referred to, Sir Robert Peel took occasion to raise a
laugh among his supporters by sneering at the work of
Mr. Allison, the learned historian of Europe, entitled,
" England in 1815 and in 1845; or, a Sufficient and
Contracted Currency Compared." Mr. Allison has
recently published a " Postscript " along with a second
edition, in which he notices the observations with 'hich
the Premier was pleased to honour his work. A com-
pleter refutation, a more thorough exposure of ignorance
and quackery than Mr. Allison's reply to the Premier,
we do not recollect of any public man ever being visited
with ; and we predict that, on the next occasion, Sir
Robert will exhibit a little more modesty than he .did
when he ventured to sneer at Mr. Allison.

But this is not all. Not only are men wishing a re-
form of the national currency—not only are all reflective
men engaged in business convinced of the necessity of
something being done to protect' them against those
periodical convulsions by which their property is sacri-
ficed, in order to uphold the credit of an exclusive corpo-
ration, whose capital does not exceed 14,000,000 L, and
to enable a few Jew jobbers to profit by the ope-
ration, and which can only be done by breaking
asunder the golden bands with which Feel's legis-
lation has bound them but they are beginning
to have glimpses of a mighty power which
has been hitherto allowed to lie dormant, and which
power consists in an extensive mercantile association And
enlightened organisation of mutual credit, independent
altogether of the Legislature, whose sanction is not
necessary for its successful working ; for although it is
the prerogative of Government to fix and determine the
legal tender money of the country as the common mea-
sure of value, yet with commercial obligations to pay
any amount in that money, Government has no right
whatever to interfere. Interfere it may arbitrarily, but
constitutionally, on principle, it dare not interfere.
The numerous exchange companies lately established'in
Scotland, in defiance of, and to set at naught, Peel's
banking monopoly, created in 1844, and the railway
banks which have been projected, are illustrative of the
consciousness of this power. Only let a proper ma-
elainery for its working be devised, and we are
satisfied as wonderful a power will have been
evoked in the moral world for the distribution of

the products of industry, and the comfort, happiness,
and enjoyment of the great body of the people, as the
applicatjon of steam, through the inventive genius of
Watt, was in the material world, with all its appliances,
minute and gigantic, and which only require the " com-
plement " of a scientific currency or effective distributive
agent to make these appliances subservient to the uses
and enjoyments of all the people instead of the instru-
ments for enriching a few, and erecting a manufacturing
and commercial oligarchy more grinding and oppressive
to the people then the worst system of feudal vassalage
that ever existed.

UNIVERSIT Y INTELLIGENCE.
UNIVERSITY OF LONDON.
BACHELORS OF MEDICINE-1845.
EXAMINATION FOR HONOURS.

PHYSIOLOGY AND COMPARATIVE ANATOMY.
Baines, Matthew (Schol. and Gold Medal)—King's Coll.
Brown, Fred. James (Gold Medal)—University College.
Radcliffe, Charles Bland—Leeds School of Medicine.
Whittle, Ewing—Royal College of Surgeons in Ireland.
Wayte, Charles Matthew—Guy's Hospital.
Hensley, Frederick John—King's College.

SURGERY.
Brown, F. James (Schol. and Gold Medal)—Leeds Schoo 1

of Medicine.
Whittle, Ewing—Royal College of Surgeons in Ireland.
Hensley, Frederick John—King's College.
Palmer, Thomas—Apothecaries' Hall of Ireland.
Wayte, Charles Matthew—Guy's Hospital.
Steel, Samuel Hopkins—King's College.

MEDICINE.
Wayte, C. Matthew (Gold Medal)—Guy'sospital.
Radcliffe, C. Bland (Gold Medal)—Leeds School of

Medicine.
Brown, Frederick James—University College.
' Hall of Ireland.
Palmer, Thomas—Apothecaries
College of Surgeons in Ireland.
Whittle, Ewing—Roy
Hensley, Frederick John—King's 'ys.College.
Medal)--University College.
Brown, Fred. James (Gold
n
h Kin 's College.
Hensley, Frederick Jo. g
D—w igt
STUCTURAL AND PHYSIOLOGICAL BOTANI.
Whittle, Ewing (Gold Medal)—Royal Coll. of Surgeons
in Ireland.
DOCTORS OF MEDICINE--1845.
FIRST DIVIRON.
Davis, John Hall—University College.
Ellison, James—St. Bartholomew's Hospital.
Humble, William Edward—University College.
Leonard, Thomas—University College.
Powell, R. Hutchinson—Apothecaries' Hall of Ireland.
Routh, Charles Henry Felix—University College.
Savage, Henry—University College.
Swayne, Joseph Griffiths—Bristol Medical School.
Timms, Godwin Williams—University College.
*Williams, Thomas—Guy's Ilospital.
* To Dr. Williams was awarded a Gold Medal for a Com-
mentary on a Case in Medicine.

LYMINGTON.—THE GAME-LAWS AGAIN.—On Sa•
turday, the 22d inst., the following cases were brought
before the Justices in Petty Sessions, Messrs. Beames,
G. C. Daniell, Lys, Hicks, West, Munro, General Ro-
berts, Major Blakiston, and the Rev. A. J. Brine :
William Hendey was charged' by the keepers, Goodrich
and his son, in the employ of Mr. Parker of Pylewell-
house, with having unlawfully entered and been on cer-
tain enclosed land, called Owl Tree Wood, with a gun,
on the night of the 14th of November inst., for the purpose
of killing game. (Information laid under 9 Geo. 0. 69.)
6
After a long hearing, it was put to the vote, what
should be the decision of the magistrates. The result was._
for Hendey's committal, 3; for his discharge, . Blessrs.
Beames,* Lys,* and West,* voting for the former ; General
Roberts,* Major Blakiston, Messrs. Diniell, Hicks, Munro, and
Brine, for the latter. Hendey was accordingly discharged.
Those gentlemen whose names are marked with a 4 are game-
preservers. Need any comment be made as to the votes?
How long are these abominable laws to last? And how long
II are game preservers to sit in judgment on poachers ?—ttiante
lidtpeneknt.