The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-12-05 00:00:00

an article relative to th

,stion of " A Itatepa
!aints of." 11l requi

nothing to fori;.ard hi

We have handed over Mr. Taunton's letter to the
the Liverpool Currency Reform Association.
of the Republic of France is to be elected by the
beople, but the President of the Assembly is elected by that
ody. Cavaignac is at present acting as President of the
Republic, pro tempore, and though others are in the field,
the chief contest for that important post will be between him
and Louis Napoleon.

URRENCY

A corre's
bitterly

onsideration.
I last night, complains
at four

News-n

a being cI(
en, as rest,

erday, ther

Cinadian

ag out-door ielief

y are not

e corresponderit

years a ratepayer, had always inc
lid cheerfully, knowins: that ver

riving dii
s and fan

linate. Is it not too bad that
.n, women making a living by

td unkind re

and more than

be sotight, and communications
arding such sufferers, to the

W.V,,,crpoct

:MORNING.

DEC. 5, 1848

UNDER the heading of "A new Budget," the
Manchester Guardian gives us notice of some
rumours, "to the effect that the honourable member
for the West Riding of Yorkshire has prepared,
and intends to submit to an early public meeting
in Manchester, a scheme of finance, by the adop-
tion of which the Government is to be enabled to
-save from ten to twelve millions in the national ex-
...

rualu11)1.11c. vur contemporary conjectures that
this large saving is to he effected by a reduction of
the force of the army and navy; and we perfectly
agree with him that any great saving, thus effected
"will not, under the present circumstances of
Europe, command a very general acquiescence."
The circumstance, however, which strikes us
most forcibly, in connexion with Mr. Richard Cob-
den's thus assuming the office of volunteer Chan-
cellor of the Exchequer, is the very peculiar posi-
tion of the man himself, whilst promulgating his
grand scheme of retrenchment. Two or three
years ago Mr. Cobden would have treated the sav-
ing of a few millions in our national expenditure
as a mere bagatelle, compared with the wonderful
effects to be produced upon our commerce and in-
dustry by the adoption of his favourite free trade
policy

I'he prosperity to be caused by that policy
was to have been such that taxation to even an in-
creased extent would scarcely be felt. The manu-
facturing interest was to have been rendered able
to buy up the property of the landed aristocracy;
..Istruct all the railways, and to have effected
we know not what magnificent things besides.
How little of all this large promise has thus far
been fulfilled we all know; and no one knows bet-
ter than the great prophet himself how lucky a dog
be is, living at his ease, and propounding new
budgets, with his testimonial fund in his pocket,
instead of being compelled to print and sell calicoes,
and to endure that ruinous pressure in commercial
affairs which has followed so closely upon the adop-
tion of his nostrum, and crushed to the earth so
many better men than his presuming self.
Mr. Cobden would no doubt tell us, like his ally,
the Manchester Guardian, that the disasters which

to cor

we have been, and are, daily witnessing, are the
results of undue railway investments; that we have
been over-speculating; converting floating capital
too rapidly into fixed capital :—in short he will run
through the whole of the hazy cloud of words, with
which politico-economical philosophers seek to
mystify us, as to the cause of the egregious failure
of their own pet experiment. But can he shew us

that a saving of ten millions per annum in taxation
will protect the community from a recurrence of

he extravagant specula

n referred to

Can he

chew us th-St it N-V
ill protect us from the conse-

quences of money going a begging one day at one
and a half per cent. interest, and only procurable
the next at twelve and a half; of railway and other

interest, being
and only ten

'oni being in the

ig millions, in the

:ence to-day from