On this page

• Departments (1)
  • 
• Text (3)

  Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.

  • 

    Untitled Article

  • 

    Untitled Article

  • 

    AMENDMENT OF THE BANK ACT. the

• Transcript

  • Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.

    Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.

    Untitled Article

    argument , would be destroyed if the small fry of petty prices had a good prospect of entangling us in their wretched cause It is clear that France wants the Rhine , and highly probable that if the French Emperor takes to negotiating , some half-dozen of the little princes who are jealous of Prussia * whose patriotism is entirely swallowed up in selfishness , would be the first allies he would ' win over to his-cause . A rational British minister , if invited to assist in protecting Germany ao-ainst France , would , if he promised aid under any circumstances , make it a condition precedent that Germany should emancipate herself from Austria , and that all the rest of her sovereigns save one should resign their little thrones , and retire to private life in Leicester Square , or any other locality they might

    prefer . . . Among those admirers of Napoleonic ideas who wish to quarr el with and humiliate England , the propensity of our Court towards dynastic interests in preference to popular rights , is relied upon as an inevitable source of our weakness , and _ offering hopes to our enemies they could not otherwise entertain . If it were known that , although England would energetically protest against a French invasion of the Rhine , she would regard a small loss of territory as a less evil for Germany than the perpetuation of / her internal divisions , the Germans would be stimulated to take care of their river and of themselves ; and the Emperor would see that if a quarrel with this country were brought about by his crafty and . ambitious policy , we . should have all the strength that must result from a determination to maintain liberal ideas , and abjure all alliances that would lead us to become the champions of despots against the victims of their riiis ^

    curious jumble between a predilection for Napoleon III . and a belief in ihe necessity of making Austria , as in 1815 , a counterpoise to France . Lord John Russell , far more liberal than the Lansdowxs , Clarendons , Gkeys , arid other ultraaristocratic members of his party , brings a small though honest mind to the task ; while that . miscellaneous . conglomeration of fatuity , the " Liberal party , " does not bring forward a single independent statesman able to take a comprehensive and philoso ^ phieal view of either home or foreign affairs . Our Cabinet-arid our Parliament have no ambition beyond a temporary adjustment of interests . In large things we drift—let its hope not towards another four hundred millions of national debt squandered upon battle-fields for questionable , results . The time may come when all our money and energy will be needed in a cause of whose justice there can be no doubt . .

    readiness with which . Russia and Austria have accepted Paris as its seat , shows a willingness on the part of those Powers to conciliate France . This may be only prudent , and may cover no ulterior designs ; but there is a party in Russia , in Austria , and in France that would be delighted to get up a coalition agains t England upon terms , of mutual advantage in dealing with the East . We are not inclined to attach too much importance to these designs ; but we believe our honour and safety demand a prudent abstention from all dynastic entanglements , such as most members of the Whig party , the whole of the Tories , and perhaps the Court also , would be likely to encourage . So soon as England adopts the principle of nations , riot dynasties , we shall have . taken away from aggressive despots the chief source of their strength . At his age Lord Palmerston is scarcely likely to accept such an idea , and he is believed to have his mind in a

    It is in vain to deny that the conduct of the French Government is alarming , and M , Tkouvenel ' s note to the Swiss is one of the rudest and most arrogant documents eyer seen . In that despatch Switzerland is bullied and insulted , because she sought the good offices of other powers instead of implicitly relying upon the intentions of France . For this , she is told to reap what she has sown , threatened with coolness , and accused of seeking her own aggrandisement . This document , together with the circumstances we have briefly sketched , affords charming preliminaries to the Conference of Paris , which , we are told , is to assemble , and we cannot help suspecting is intended to pave the way for a further practical exposition of Napoleonic ideas .

    We hope our Government will have nothing to do with this Conference without being previously satisfied as to what is to take place , If it is to discuss various questions ; we ought to know upon whom we can rely ; and if it is merely to receive an announcement of the Imperial will , it may be questioned whether we are called upon to give prestige to so autocratic a display Already the projected Conference is represented in France as a

    diplomatic abandonment of the Treaties of 1815 , which are to be offered up by trembling Europe at the shrine of Imperial power and pride . We care nothing about the Treaties of 1815 , and are quite ready that our Government should formally admit their invalidity , so far as they stand in the way of any popular rights ; but without any feeling- of jealousy townrds France , we do not wish to be parties to any act that tends to strengthen military arid aggressive ideas .

    In addition to opportunities for armed interference that may occur in Europe , it is tolerably certain ' . that the Enst is driftingtowards fresh complications ; and tho death of MiLoscir , which is not likely to be far distant , may give rise to changes in Servin , and , an excitement among the Christian population of Turkey , that will revive Russian hopes and schemes . Let us avoid anything like toadying the Empire , which would be certain to meet with contempt ; but let us beware how we suffer the small German Prince interest , or any other mischievous

    influence , to force France into an approximation with Russia and Austria ; that would be highly dangerous , and inconvenient . A few days ago it was reported that Austria intended to revive the Hungarian constitution * and place herself in a position less antagonistic to those principles which England must sustain j but the rumour turns out to be a delusion . Fiungis Joseph has chosen a military officer , General Benpdek , a man of illiberal ideas , and hateful to tho Hungarians , to rule them with a more centralized administration than hns hitherto been

    constructed ; and there is , as yet , no symptoms that the Court of "Vienna will take one single rational or honest step . The designs of France in Italy are growing plainer . J La-MQEiaiEttB and a swarm of French officers are to ^ assist the Pope in obstructing tho union between southern ana northern Italy j Viotok JSmmanuel is advised not to call himself King of Italy j and Count Gavour's reputation has been damaged by the way in which ho was forced to bo an accomplice in tho Imperial scheme of sei ^ ng-Nice . A Conference at this crisis must be on important affair , and tho

    Untitled Article

    THE quarrel between the discount brokers and JsanK or England is forced on by the Act , of 1844 . : Ever since it was passed , practical and theoretical men of the highest character have condemned it . Now , in the midst of political quiet and sound trade , it has brought on auother crisis , and threatens continual alarm and disturbance . By it trade is alvvays exposed to difficulties- and . danger . What should be done with it maybe doubtful , but the present session can scarcely come to an end

    without the law being amended . Parliament cannot afford to wait for another commercial convulsion to compel it to redress the wrongs it commits . Tt cannot repeat the obstinate ; folly of neglecting to repeal a bad law , such as the corn law , without sinking ; to the level of the despotic Governments of the Continent , which are never roused into seasonable action but by a revolution . We shall make it our business to point out the course required by the principles of free trade , which are still continually forgotten or trampled on by legislators and publie writers .

    Money , as every one knows , is necessary to social existence . Like clothing , it is brought into use for the sake of convenience , ease / and comfort . It has no nobler origin , and the convenience of which it is bom governs all the phases of its entire existence . Let us , here remind the render that modern thought , based on ever-extending observation , adopts the conclusion that causation is uniform and constant in all time and space , whether we refer to the motion of the heavenly bodies , or the production of life oti the earth . Man , it has been admitted since the time of Lprd Bacon , can only bring matter in conjunction or remove it apnrt—Nature does . all the rest . He must , therefore , submit to the consequences of his bringing together or separating matter which arp brought about by as inexorable a logic as the largest and the meanest part of creation .

    On this principle , whatever increases convenience , or ease nnd comfort , is as appropriate to money as to garments , and by the public convenience , and nothing else , must every question concerning money be tested . For this only is the prerogative of coinage claimed , or the power of regulating money by law assumed , and whenever the exercise of either lessens the convenience of the public by interfering with money ,, it is indefensible the written

    Bank or goldsmiths' notes were , in their origin , promises of a privato person to pay a stipulated sum of the current money of the' community , and having been found , in many cases , more convenient than coin , they oamo very generally into use in cvory oivilissed society . It was afterwards found that , besides being a ' great convenience ) thoy caused a groat public saving . Coin is a . cumbrous and costly , though indispensable ,, instrument , like Iinnd 4 ooms or sailing ships , or common roods , which , in the progress of society , is improved or supplcinontcu ,. or superseded by superior inventions . But , as in constructing them tho wenving of cloth or tho enrryinft' of goods is never lost sight of , so in all improvement of money , tho oxohaii&c of commodities , for whioh it is the convenient instrument is niwnys kep t , in view .

    Untitled Article

    2 Q 2 Th 6 Leader andSaturday ' Analyst . [ April 28 y 1860 .

    Amendment Of The Bank Act. The

    trie AMENDMENT OF THE BANK ACT .

• Citation
  • Leader (1850-1860), April 28, 1860, page 392, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2345/page/4/