HASZARD’S GAZETTE, JANUARY 15.

saws BY ma mtcusn run.

The Ministry, by an order in Council,‘ have come to the rescue of the Bank Ol England—the ﬁrst step towards the relax- ation of that metallic basis, an adherence to which, in the judgment of many wise and clear-headed men, is at the root of the present dearness of money, and ofthe embarrassments ofthe commercial commu- nity. This order empowers the Batik of England to issue notes to the extent oi £475,000 beyond the fourteen millions of securities speciﬁed in the Bank charter. According to this Batik charter, the issue department of the Batik of Englandis ti self adjusting machine. For every tinllioti of gold withdrawn, bank notes to the amount of a million must be cancelled. If ten millions of gold are required, ten milli- ons of notes must be withdrawn frotn circu- lation, without any power on the part ofthe Bank of England to issue them, excepting for bullion brought to thetn liir sale. The concession now granted to the Bank is a virtual admission that the Bank charter has broken down—-that its provisions, in a time of war, at least, cannot be carried out; and this act of the Government, like Lord John Russel's circular to the Batik Directors in 1817, is a proofthat however well the char- ter may work in ordinary times, it cannot stand the strain of a crisis like the one through which we are now passing.

Enough appears on the cards to show that all the vapouring of the bullionists cannot prevent, at no distant day, such a change in the monetary system of the country as will adapt itself to all contingencies—to a time of peace and a time of war, when mo~ ney is relatively plenty. and when, as now, it has attained a price which seriously cripples the productive capacity of the na- tion. In this act of the Government the principle is conceded of a litnited amount of inconvertible currency, and the oppo- nents of the present state of things, who are every day increasing in numbers and power, will go a step further, and insist, with unanswerablo force, that to the Bank of England ought not to be entrusted the money-coining prerogative of the crown. The smallness of the relaxation which the order in Council sanctions is only impor- tant in connection with the principle which it impugns, or we should rather say—anni- hilates.

The leading journal of yesterday, which has always been a stickler for the purely metallic basis, has a strong article on the subject, by way of keeping up the spirits of those who have faith in its stringent cur- rency views, of which views this last act of the Government is a decided impeachment; and in order to put a good face on the inat- ter, the journalist has enlisted the co-ope- ration ofa writer who signs himself “ Ms- Iuc'roa," one ofthe late Sir Robert Peel’s created noblemen, whilom a London bank- er, to whom the harshest features of the Bank charter of 1844 are said to awe their paternity. This writer discourses most glibly on the philosophy of money, its uses and abuses, how it goes and how it comes, the causes of national wealth and poverty, and other self-evident axioms which no one out of Bedlam will dispute. His reasoning, however, will afford very poor consolation to that large body of commercial men and manufacturers, who have plenty of realised wealth in the shape of shipping, produce, and material, but who cannot get bank ac- commodation except at rates of interest which are positively ruinous; while there is one striking feature in the existing con- dition of things which the editor and his contributor have both found it alike conve- nient to overlook. Everybody knows that the straightened position of the Bank of England is owing to the large quantities of gold which have been sent from this coun- t and from France to the East, for the maintenance of the war. This gold is lost to comtnorce—will never return in the course of legitimate trade, for the natives who receive it in payment of their demands hoard it, and only part with it in inﬁnitesi- mal proportions, extending over a conside- rable number of years. All the gold-ﬁnd- ing power of Australia and California will be insuﬂiciont for a long time to supply the vacuum so created; yet the advocates of the metallic basis under all and every imagina-

of this great primary fact than if it never had an existence. Any sensible man Who attentively scans the article to which we have referred, and also the letter of “Matt- cs-rott,” will see at a glance what lluent prattle may pass for philosophy in the minds ofmany,-minus the point on which, as in the case we have illustrated, the whole turns.

The difference between father and son was never nptre strongly exemplified than in the peculiarities of the present as com- pared with the late Sir R. Peel. Men tia- turnlly evince a desire that their first tnale progeny should bear their own christian names. In the case of ordinary citizens, who are never likely to have u biographer, this feeling is well enough; but when men l)(!ttt’|Il]C eminent by their talents, when they rise to the dignity of governing their fel- lous, the rule is more than questionable, for posterity is very apt to confound the persons, although they may renietnber the names. There have been three Sir Robert Peels in our titiic; the lirsl, a titie spccinien ofun Englishman, with abundance of natu- rnl,, but with very little of acquired talent. Feeling the want of n lirst-class education, be determined, having realised a fortune by his own personal industry, to make his son a tnodcl statcsman,—-and he succeeded; and that, too, in a couutrv where a long

cess. This, we apprehend, was the reason why_the second Sir Robert Peel was wed- ded to the then dominant political party, for the Tories had ruled the country so long that all political power seemed to be con- centrated in their persons. This distinguish- ed tnan,—prudent, proutl, reserved, and tnost industrious—fulﬁl|ed ‘his destiny, and passed from the stage of llfc, after lilling every high ollice in the State which talent and conlidence cotild secure. He was succeeded by the third baronet, his first- born, who nmdc a speech the other day to the Stalford-hire Yootnanry, ofa character so peculiar, and showing a judgmunt so weak, that we shall be surprised ifhis supe- rior, the Premier, with whom he is under- stood to be a favorite, will overlook it. The subject-matter ofthis speech was the war—— a topic upon which any member ot the House of Commons, any nobleman or gen- tleman holding tt non-otlicial position, may discourse ad caplandmn. But the position ofa member of the Govcrntneiit is widely different. for every word which falls from such a personage is supposed to hear an oﬂicial impress; and although the Austrian government, frotn its weakness or double dealing, as the case may he, deserves to be handled in the rough and ready way indulg- ed in by the present Tamworth baronet, we can only say that we question the prudence of the act, and this feeling, we are certain, will be participated in by the hon. haronet’s colleagues in the Government. if the se- cond Sir Robert Peel, with all his acknow- ledged powers, had not had more discreti- on, he would never havo been the First Minister of England.

The Bible-burning prosecution against Father Petcherine has resulted in his ac- quittal, the jury which tried the case con- sisting of live Protestants and seven Roman Catholics. The prosecuting counsel on behalf of the Crown was Mr. Keough, the Irish Attorney-Genet-ul, himself a Roman Catholic, and he denounced the atrocity of the act, ifit were committed intentionally, in terms as vehement as the most ardent disciple of Exeter-hall could wish. The remarks, too, of this liberal Irish Catholic respecting the sacredness with which the authorised version of the Scriptures ought to be regarded, told on the court» and jury, and will tell amongst all sensible people, whether in Ireland or elsewhere. Father Petcherine’s counsel met the charge in a very unexceptional spirit, and contended that it was altogether a misrepresentation to assert that the church to which his client belonged was the enemy of the sacred writings, and he 'entered into historical

roofs in corroboration of his view.

his trial, having terminated as it did, will, we hope, allay the religious bickerings of which Ireland tor centuries has been the scane.— Wt'lin¢r‘s European Times.

oooo———

Two seamen, belon ‘tag to the Desperate, 8, screw, Commander hitc,havo been turned out of the service for ﬁghting "a duo " with

its circumstance, make no more account

catlsssss. . 0

line of ancestry is the llI‘.~‘l.ptloSpt)l‘l to sue-_

oua ciwtsans IN THE BALTIC. , As the vessels of the fleet arrive from’ the Baltic they severally bring with them; accounts oftheir proceedings while cruising in that Sea. The Ampliion, 34, screw, steam-frigate, Captain Astley C. Key, C., B., arrived at Sheerness on Sunday, the‘ ltith inst. She has been for the tnost part other titne blockading Sweaborg, during which titne, ntdilferent periods, a number of Russian.t-soldiers, artillerymen, and seamen, came on board, and gave themselves up as descrters from the different islands, and the gunboats which lay secreted behind some of the inner islands of] Swcnborg. The Atuphion’s boats have been busily eit- gnged in destroying a number of the eneniy’.~' vessels, laden with lircwood, for the*winter supplies of the garrison and town. She has been twice under heavy and severe ﬁre from the Sandhainn batteries. She has been liulled several times. One solid shot fell on deck over the foremost part of the cabin, which completely shat- tcredthe deck and bcntn under which it fell. Ono seamen was killed by a round shot, which severed the head from his body. One I-llicer was wounded and four ofthc crew. A solid shot passed through her lllillll-_\'tll‘(l, nearly cnttitig it asunder, but.

being at a short range, went through the yard, rcmainitig in the slings. Her

standiug and running rigging were cut to pieces, as the enemy fired with great ac- curacy. In her engine and machinery depatrtmcnt she is in very excellent order, except her tnnin shaft, which was broken nearly six months since, and was repaired by her own engineers, assisted by the eti- ginecrs on board the steam factory ship the Volcano.

The Driver, i,paddle-wheel steam-sloop. Commander Allan H. Gardner, which ar- rived at Sheerness fnom the Baltic, on the same day, while cruising off the Aland Arcliipelngo, on the ‘llst of November last, stood in near to Uto Island, and there dis- covered six Finnish vessels belonging to Abo. hey were riding there windbound, being destined for Sweden. They were laden principally with baulks of timber and planks. Great diﬂiculty was experienced in getting them out in consequence of the heavy weather and the intricacies of the navigation between the numerous Islands. It was at first decided on burning them at their anchors, btit, by the judicious ar- rangements of the commander and first- ‘lieutenant, they were all warped, and sailed out clear of the shoals. This work occu- pied the whole ofonc day and a night, the thermometer at the time being 14 degrees below the freezing point. The driver was attached to Admiral Baynes’s squadron as a despatch vessel. She left Faro on the 30th of November, and was beset in the ice‘ in Arinsburg Bay, while communicating with the Archer; both vessels got clear in the course of the next day. The weather was very severe—such was its severity that, on the driver getting into anchorage water, on letting go the shank-painter and the stopper, to get the anchor (weighing 36cwt.) the anchor would not fall, being frozen to her bows, encased in a solid mass of ice. It occupied the men more than half- an-hour to clear the anchor from her bows. After this had been effected it was found that the whole of the chain cable in board and out was frozen to a solid mass of ice. After some time they succeeded in anchoring, and allcrwards proceeded to Faro, at which port the Admiral was at anchor. For three consecutive months the Driver was not at anchor for more than three days, calculating each time of her being at an- chor. Her machinery is in very excellent condition, and quite ready for any imme- diate scrvico for which she may be required. She left at Elsinore the Tartar, Pylades, Esk, Cruizcr, Conﬂict, Centaur, and the French fri ate D’Assa_s.

The pa dlo-wheel steam-frigate Magi- cionne, 16, Capt. N icholss Vansittart, also arrived, left Hango on the 29th ult., when the thermometer was at 8 deg. Fahrenheit, and the ice was fortnin so strongly on the south shore that tho ying squadron was forced to retire, and thus raised the block- ade, which had been strictly maintained up to that date. This frigate appears to have been as actively occupied on the enemy's coast as any ship in the British ﬂeet. She

was engaged no less than ten times with

the enemy, and notwithstanding the diﬂi. culty ofthc navigation and the abgen“ of local pilots, has sustained no injury._.;; fa“ reﬂecting much credit on her otliccrs and crew. Subjoined is an account ofsome of the principal services which the Magicienne has rendered. On the 27th of Mgy in company with the paddle-wheel steiim- vcssel Merlin, 5, Captain B. J. Sulivan at the north-end of Niorko Sound, she c,ap- tured and destroyed 20oftlic enemy ’s ships. On the 28th she saw two galliots in tow of ti war-steamer, gave chase, when the gal- liots, laden with granite for the Russian Government, were captured and burnt, the steamer having cast them oil and escaped itito Sweaborg. On the 6th of June two galliots laden with granite were destroyed at Kankiala Light. On the 7th the Magi. cienne engaged and drove otfa lield buttery oftlrtillery at Maxlax, on which occasion hcr tnooritig chain cable was destroyed several shots lodged in her stern. On the; Htll She destroyed the fort of Rotschenslan, and on the ltith scuttled four galliots laden with granite. On the 20th, in company with the screw steam-frigate Arrogant, 43, Captain Hastings R. Yelvertnn, at Kotka, tnonth of the Kymene river, she burnt a number of but-racks suflicicnt for 5000 troops, and on the ‘list blew up the walls of the fort. On the ‘.23d, in company with the crew ofthc screw .-team-gun boat Ruby, 1, in boats, engaged a large body ofinfantry at Mnxlax, and drove thetti oil‘, 30th.- Burnt utid sank 2!) galliots with granite. July 5, at Lovisa dispersed a party of Cossacks. 6th.-—Burnt and blew up the fort ofSvartholen, capable of mounting I22 guns and a number of mortars. llth.—At Kouudcr Bay skirmished with a body of Cossacks, who were dispersed by rockets. |2th.—At Pourtisioki Bay destroyed a guard-house and drove away the enemy. l3th.—A boat expedition from the Magici- enne and the Arrogant, towed by the Ruby, reconnoitered Trang Sound, and was at. tacked from a concealed post by a body of troops consisting of artillery and rides, and also by three row and one steam gunboat. This action continued an hour and three- quarters. The boats accomplished the object of tho reconnoissanco, and returned to the ships with one killed and eight wounded, of whom two died subsequently. On the night ofthc 20th ofJtil_v the passage into Frederick Sound was buoyed oﬂ' under fire ofthc Russian batteries, oti the morning ofthc 2lst the ﬂeet entered, the Magicienno taking position I800 yards from the guns; alter an engagement of two hours the fort was completely silenced. Although per- fectly at the mercy ofthc ﬂeet, the town was spared. On the 26th and ‘.37th the destruction of the barracks and extensive storehouses of Kotka was ﬁnished. At the bombardment of Sweabor by the allied forces the crew of the glagicicnne had charge of four mortar and two gun boats. Since the bombardment this steamer has been engaged in a variety of blockade du- ties, and in towing mortar boats, &c. She was the last ship to make a reconnaissance of Sweaborg, and found the Russians busily occupied in repairing the damage received in the attack by the united ﬂeets.

Tn: Sound Don.—0nly two States have, as yet, pronounced in favour of Denmark's view viz, Russia and Mecltlenburg. On the part of the former it took place some time back. when Count Nenelrodc stated to the representative of Demnarti at St. Petersburg that the Minister ofFinanco would not be able to part with so lnrgeasom as would be required to capitalise Russia’: contributions hitherto made annually to tho- Sound din-,u. and that therefore Russia would be in favour oftln-ir continuance on the present footing. Since then Mecltlenburg-Schwcriu has declared that she has no objection to offer to the continuance ofthc Sound dues as at present con- stituted. 'l'his is easily accounted for by the interest Mocltlenburg has in the retention at the Elbe dues, which must be given up at once as soon nthe Sound dues have been dons away with. It is understood that Lord Clarendon has declared to the Danish Minister, with reference to the possibility of any vessels of the United States using the Sound or Bolts without paying dues, t at whenever that should take place no English Minister would be able any longer to submit to England’! paying any.

Woon-sttoiuvsas would make capital exccutioners, for they are so constantly in the habit of cutting heads on a block.