25 AUGUST 1832, Page 11

THE CURRENCy QUESTION.

TO THE EDITOR OF THE SPECTATOR.

St am obliged to you for inserting my second letter, and have no desire to intrude further on your pages. There are, however, two points in your re- marks upon the subject to which it may yet be serviceable to direct attention, viz.—First, where you "deny that any restraints whatever exist on the supply. of money in this country." Secondly, where you call for some one article to be pointed out, whose fall in price is not to be accounted for by other circumstances than the rise in value of money.

I beg to refer you to 31r. Mcienztes just published work on the "Industrial Situation of Britain," which, as if on purpose answers Baru your objections: the first, in Part II. on Money Restraints; the second, in page 21, where the article TIN is specified as one whose fall in price (of 50 per cent. since 1814) cannot be accounted for by any other cause than a rise in the value of money,

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occasioned by a defalcation n the supply: of gold anti silver from the mines oc- curring simultaneously with the imposition or continuance of "restraints" On our paper in circulation. You ask for filets, you will find them there.

I am, Sir, respectfully yours, G. P. S.

[We answer the appeal of our respectable correspondent, in the way we think all whmprofess to discuss such questions should approach them—by an attempt to increase the sum of general information. In the Topic on the Tile TRADE, our corespondent will find, we believe, a complete demonstration that Mr. Mesinett is misinformed. His remarks on MONEY RESTRAINTS fail to meet our view of the question, as it was stated by us last week. We reserve all-further observation, till we come to consider BANKING in all its _bearings.— En.)