The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-08-10 00:00:00

hich hepropOseci

doctrine, falsifies his faith in his own creed by viol
(Cheers.) In oppr
—ioney ought -

1;n most flagrant
Robert Peel, I

A to pos-

hat it is the sign, not the thing
ation of value, not value itself. I
'e of fabricating the legal tender of

-the repr

the pre

tion ar

crown, and that Parliament s'

nount,

r with the amount of

that amount exactly co:
:..,, .

annual taxation
would be the si

es of taxation, thereto!
It cou

never aer

limited
not no,

repress

It would eve

of the

T our own puipos(

the wat

marine of Glasgow.' This national money would render
us completely independent of the foreign metal for our
internal trade and taxes;. we could always buy as much
of it at the market price as our necessities required; we
should have far greater facilities than we now possess for

using it in paym-ent of the balances of our foreign com-
merce. In this national money wages and profits would
rise to their taxation level, and competition would prevent
them exceeding that level. Steadiness would be intro-
duced into allgmarkets ; we should cease to be mere gam-
blers; nothing !more than prudence and
would be required to e

3rseverane
us man t

Able every industn,
acquire a competency. (Loud cheers.) I na
few words on private banking. The notes issued
establishments are not money, because they are nu,. _
tender. No one is bound to take them. They do no
operate as a discharge in law of debts or taxes. They are,
therefore, pure currency, with which the Government ha;
no right to interfere. They are instruments of individua
credit, circulating on personal faith, and he who take:
them, takes them at his own risk. Such notes are in tho
character of bills of exchange, only differing from them it
not falling due at a determined date. They are but th,
evidences of debt. Now, with such instruments legislatioi
has no concern, for it is not the province of legislation t(
protect the subject against his own voluntary acts of in
discretion. (Cheers.) I make my appeal to you as ;
vigorous free-trader. Will you co-operate with us ii
abolishing the mint price of the commodity—gold ? Wil
you insist that the price of gold shall henceforward be a
free as the price of the quartern loaf I appeal to you

s men capable'of reasoning ; to your interests
as manufacturers and operatives, which must prompt you
to seek high profits and high wages so long as you are com-
pelled to pay high taxes ; can I return to London and say
that the people of Glasgow, of whom the three thousand

consistency

)e taken

,tion, are prepared to join themselves into an anti-goh
w league ? (Great cheering.) I interpret those pro

enthusi

affirma

longed anu cheers as an answer in t.__
tive. We have truth and justice on our side ; energy anc
peaseverance will give us an early and complete &jump}
over Jews, usurers, and moneymongers. (Long-continuec
cheering.)

FINANCIAL AND COMMERCIAL SUMMARY.
Our anticipations, with respect to the return of a money
pressure, are being rapidly fulfilled, as is evidenced froze
the fact of the Bank of England having last week raised
the minimum rate of discount to 5i per cent. on first-clasE
short-dated paper. It is well known, however, that
practically this has been the rate for some weeks past;
and that even higher rates have been charged to unea•

it, ther

we of tlie announce

nowledg

contains that re'strizted accommodation is I
that the position of the bank is,. not an c

result has been a depression of the public securities
)ether with the creation of a verb
circles.

uneasy feeling in mor

)r exportation

•ket has shared in the general gloom
quoted if lower with a tendency to de•
The sales of the week have been abou

nanufactur

he bulk of the business, however, w
nouneernent of the Ban

k was mad

istricts are quite inactive ; and grey

ley is manifested,

the Corn Markets in London and throughout the cowl
eclined during the week ; but in Liverpool, cc
it reaction took place, holders taking ad

.ne unsettled state of the weather. It wa:
tot maintained, however, and we anticipate a further de.
'ine to-day. The failure of a large importing house it
\rk Lane, during the week, and the report of a furthe
here, has shaken confidence amongst the Tray
The weather r'

the hour at which we write is assuming
_
more settled appearance ; and some heavy arrivals at
coming in, neither of which circumstances are favourabi
to a continuance of high prices.

Ong ,
market, and

iday capital was in full request, both in the discour
t the London Stock Exchange. Th

rate of accommodation in most cases was about 6 per cent.
Another instalment was in course of payment on the eight
million Irish relief loan, to increase the inquiry for cash.
Consols finally left off on Friday at 861 for Money, and
aunt ; Bank Stock was quoted 1952 to 1974 ;
ts. Reduced, 87:1; Three and a Quarter per
md Long Annuities, 9. India Bonds have
to par. ; and Exchequer Bills, to 5 dis.

7 for the A(

a t6lO

The market for English securities on Saturday did not
vary in any material degree. The truth is, the dealers
how little inclination to do business after so serious a fall
as lately occurred. Consols for the Account we quote
nd for Money 861 to I. Exchequer Bills still
to par. Spanish Five per Cents. are 201 to
!se, 29 to 31 ; Mexican, 171 to 188.
me important commercial information from

America elsewhere

Alter t

OF NAPOLEON.—NapoIeon sometimes told
ales of his early career. One of those, if true,
'ear the world was to the loss of an Emperor.

the first step to h

of Toulon, which his panegyrists :
tine, he returned to
)le mood for advent'

vorst po;

_.
unient,ed to him the disconifi
been just obl

without an

1 to fly fr

❑aining, but an assigna
lz iii arrear. "In this

to suicide

ad walked along the qua} s, feeling

ments I should have thrown mnyself into the water, who
ran against an individual dressed like a simple media