Carlyle, under some momentary aberration, seems to prefer. Mob's nominee and favourite, on Second December, did not cry at all, but crooned over a fire saying only, "Let my orders be carried out;" and they were carried out, and people killed wholesale. The worst that can be said of the Householders is that they are a crowd, and the weakness of a crowd is to believe in the strong, not the weak; they shout it may be, for Barabbas, instead of Christ; but then is not Barabbas nearer Mr. Carlyle's ideal? He was not a weak person by any means, or given to letting people go their own way, but a violent brigand, erroneously supposed by the Jewish people to be of the Wallace stamp. Our fear, we confess, and it is at least as reasonable as Mr. Carlyle's, is, that we may be entering an era of Dictators, of persons who will order civilization to march on with an abruptness and violence which will destroy much of its good effect, but whom the householders will sustain most consistently and energetically when they are most violent. The evil tendency, if there is one, is not to Walpoles, but to Broadheads. It is very possible - and we have a doubt, despite his writings whether it is not this which worries Mr. Carlyle that leadership may, under our new society, pass away from the aristocracy of birth. We cannot see why it should, for the Bill once out of the way Lord Stanley or Lord Cranborne is quite as likely to rule England as any "demagogue;" and if we were running a President we would back the Foreign Secretary against anybody; but if it does, to whom will it pass away? Clearly to three or four classes of men, Parliamentary chiefs, aristocratic, or men of the people, as it may be, but at all events, strong men - Heaven help the mob if they invade Hyde Park with Mr. Bright, Lord Cranborne, or Mr. Forster as Home Secretary, and a clear law! to Radical Generals, should we ever get any, and to great bureaucrats, men who can really organize strong departments, as people say Mr. Scudamore and Sir C. Trevelyan can, and to Trades' Union Chiefs. Why will they not do, on Mr. Carlyle's theory, for aristocrats, for leaders with a tendency to make fools do wise things, to introduce, in his own language, the rhythmic drill which, though with very different objects, we admire as much as he does, to guide the nation, in more strictly political language, into the course which will enable it to apply its strength rhythmically to the attainment of its ends? Does the biographer of Cromwell and of Knox really believe so exclusively in birth in a country where, as George II said, there is only one gentleman (of heralds' making), an unknown person called Lord Denbigh, — and where we believe there is not one family with a pedigree which is more than bourgeois on both sides. We beg his pardon for the suggestion, but if this is not the aristocracy, the claim to leadership he wants, what is he asking? Prominence? The new men will soon be as prominent as the old. Strength? They cannot be weaker anyhow than the six hundred persons labelled "noble," who have just surrendered the last relics of their power without a fight which would have frightened mice. The power of compulsion? Well, the new leaders will have irresistible physical force behind them, and if they do not use it they will be better than the majority of their kind. Was it weakness or strength, strength beyond human imagination, which refused the legions of angels." To put the case into its most concrete and most brutal form, is conscription, the education of the whole people into a capacity to kill rhythmically, less or more likely because we are to have a Householder Parliament? The new electorate may not pass that particular law, but it can do it, and the ten-pounder constituency cannot, and the experience of mankind is that men who can do a thing, good or evil, are a good deal more likely to do it than men who cannot. If this Parliament does not compel a rhythmic action against the foreigner, ignorance, roughs, and other evils, a good deal stonger than most of us will approve, it will be very false to the usual course of genuinely popular assemblies. "Swarmery may be a very evil thing, though the swarming ot animals, birds, insects, and other Heaven directed creatures always precedes departure from the unsuitable to the convenient place, but at all events it helps to crush things in the way. Weakness is not the especial quality one would predicate of the sway of a crowd, the flow of a tide, the rush of a sandstorm, the march of a waterspout over the waves, and they are all strict analogues for that purblind but irresistible surge of opinion through which modern democracy acts; and it is democracy, if anything, which we have installed. Mr. Carlyle believes that in fifty years "the Church, all churches, and so-called religions, the Christian Religion itself, will have deliquesced into Liberty of Conscience, Progress of Opinion, Progress of Intellect, Philanthropic Movement, and other aqueous resolves of a badly scented character!" and all because fishermen, carpenters, and other mean individuals, are to be heard in the world. Was it, then, an aristocracy which established the Christian Faith, or purified it when it had rotted, or believes it now? From the Intellectual Observer. JAPAN, AND ITS CURRENCY. BY JOSEPH NEWTON, H. M. MINT. Ir is highly probable, if it be not morally certain, that, ere many years shall have passed away, the thick veil of mystery which has so long, and so effectually concealed from us an exact knowledge of the laws which govern, and the peculiar habits which distinguish the inhabitants of Japan, will be removed. Such a consummation we believe must result from the more enlightened, and, it may also be said, far more rational mode of conducting negotiations with the authorities of that strange empire of islands which now prevails. This country, indeed, is particularly fortunate at present in having as its chief representative at the Court of the Tycoon so able a diplomatist, and so dispassionate a man as Sir Rutherford Alcock. If it be true that "A wise physician skilled our woes to heal, Is more than armies for the public weal," it is equally certain that a talented and honest statesman may contribute largely to the promotion of the social and commercial intercourse, and the happiness of nations. In time past it has been too much the custom for ambassadors and others, while "dressed in a little brief authority," to play very “fantastic tricks" indeed with those to whom they were accredited, and thus to create, or widen breaches instead of promoting peace and confidence. The fact, which is sustained by abundant evidence, has had the effect, in too many instances, of preventing instead of aiding the extension of commerce, and thereby arresting the progress of civilization and of Christianity it self. The manner in which our intercommunication with the Japanese has been conducted during the last few years is happily not amenable to any such painful criticism. Confi lence, it has been truly asserted, is a "plant of slow growth," but it appears to be one in process of rapid cultivation between England and Japan, and we all know the value of the production when fully matured. At this moment, there are in this country many intelligent young Japanese, some of them of noble birth, and destined for future legislators, under course of educating and training in Great Britain, whilst several of the vexatious restrictions which heretofore prevented the admission of Englishmen into Japan have disappeared. In short, a quiet and gradual, yet sure and steady revolution in these directions is going on, and its course is fraught with advantage to the peoples of both countries. In the magnificent exhibition of fruits and flowers of the world's industrial gardens, now in full display at Paris, a considerable section is devoted to the exposition of articles from Japan. This forms, indeed, one of the most interesting portions of the wondrous show, and the ingenuity and originality manifested by the artists and workpeople who have prepared the articles are extraordinary. The fact of their transmitting so much valuable property to France, and taking so palpable an interest in the success of the gigantic undertaking, is in itself a strong proof that the Japanese are becoming fully alive to the advantages of international traffic; as it certainly proves that the councils of the Tycoon are not now under the influence of the old spirit of exclusiveness. Taking this, with other signs and portents of a similar character into account, there can be little danger in predicting that closer and far more familiar relations between the states of Europe generally and Japan will soon exist. Such a result cannot but be productive of good to all, and we hail its approach as a certain guarantee of increasing commercial prosperity, for this country especially. If, however, there are externally to Japan, as it were, symptoms of an increasing intercourse such as has been indicated, there are corresponding symptoms within its own limits. To one of these latter it is proposed now to invite attention, namely, that of a proposed reformation of the metallic currency, which subject is under discussion by the Japanese Government. On matters of trade and currency which, as we so well know, have the most direct and vital bearing upon each other, the people of Japan have been instructed to some extent by the Dutch, with whom their trading transactions have hitherto been almost exclusively carried on. The information thus gained nevertheless was of a limited kind, and was probably sought for the purpose of meeting the internal wants of the country, and the consequence was the establishment of a sys tem of coinage by no means cosmopolitan in its application, but, on the contrary, most narrow and artificial. The coinage of Japan was, however, it must be admitted, carefully devised, from one point of view, for its especial object, and its arrangement, though presenting startling anomalies to those unaccustomed to it, was not ill adapted to the daily necessities of the native population. The treaty which was completed in 1858, conjointly between Great Britain, America, and Japan, and which, to a very limited degree, opened up commerce beteen the three countries, first induced the Japanese to take into earnest consideration the nature and peculiarities of their own metallic currency, and its adaptability or otherwise to the purposes of foreign trade. This consideration was a fact forced upon them by pressure of the strongest influence which it is said can operate upon traders in general that of self-interest. To make this point more clear and intelligible, let us describe the coinage of Japan, as it was arranged at the period just cited. The principal coins circulating anterior to 1858, were the gold kobang, and the gold itzebu, and the silver izebu. The original kobang of gold was worth about 18s. 3d., or 18s. 5d. British. The gold itzebu was worth one-third of the gold kobang, and the silver itzebu equalled in value 1s. 4d. English money. At the time of the partial opening up of foreign trading transactions, the kobang circulated in Japan at four itzebus, although its European value was actually nearly fourteen itzebus! The immediate consequence of this latter circumstance on the sharp traders of America and England, was to induce them to buy up all the kobangs that came in their way at the Japanese valuation. By this proceeding, which no doubt enlightened the poor natives, and revealed to them the truly commercial character of their new customers, the latter gained large sums of money. The lesson thus practically taught and forcibly illustrated, was speedily learnt by the Japanese, who set about purchasing the remaining kobangs. The result necessarily was a total disappearance of the kobang from the channels of general circulation. At present, therefore, gold and silver itzebus are the coins which mainly do duty as the circulating media of Japan. These are supplemented, however, by a silver coin known as the itacune, and which is equal in value to 12s. British. There are also in use among the humbler classes of the native population, subsidiary pieces of copper and of iron, and which are known individually 61 18 as the sen, or cash.* Of these 376 are required to equal in value an English shilling. The obsolete kobangs were thin and ovalshaped discs of flattened gold, two inches in length, and 14 inches in width. Their weight averaged 200 English grains, and their almost universal degree of fineness was The ornamentation of the kobang was of the most primitive and simple nature. A kind of scroll like a floreated design at the top, and at the bottom of the obverse, was supposed to represent the coat of arms of the Dairi. Characters stamped in immediately beneath the upper coat of arms indicated the exact weight and value of the coin and the date of its production. Above the lower coat of arms was the name of the Master of the Mint at which it was minted, and who thus guaranteed and made himself responsible for its genuineness.† In the centre of the reverse was the official mark of the Director-general of the gold and silver coinages, and not unfrequently the names also of private individuals were imprinted on the same side to demonstrate that the coin had passed through their balances and not been "found wanting." 1000 The gold itzebu, or, in the more vulgar tongue, the "itjib," weighs about 60 English troy grains, and its degree of fineness is 569 It is simply an oblong piece of gold plate metal, with rectangular ends admirably adapted for cutting holes in pockets. It is of an inch in width, and ornamented by a coat of arms, characters exemplifying its weight and value, and other official marks of the director of coins. The itacune is an oval-ended plate of silver, three inches in length, 14 inches in width, weighing 1160 English troy grains, and possessing a degree of fineness equal to 650 It is stamped with the Imperial arms, top and bottom, with declaration of current weight and value in the middle. 1000 As has been stated, some of the consequences of the treaty were soon felt in a material sense. It was ascertained that one Mexican dollar was, approximately, equal in value to three itzebus. Foreign merchants were therefore entitled to demand three itzebus in exchange for a dollar, and as, by the provisions of the same treaty, permission was given for the free export of gold and silver, the gold coins could be obtained at the Mint price for the itzebus thus acquired, they were speedily bought up and *The coarsest specimens of mintage extant, are not equal to the Chinese "cash," illustrated at page 121, vol. iii. of "Intellectual Observer." + An arrangement existing in this country in the days of the Saxon Heptarchy. From the Spectator. THE CRISIS IN ITALY. exported. Is it surprising that the Japanese soon complained that they were being robbed under the actual conditions of the treaty which thus legalized fraud? Sir Rutherford Alcock, who was a witness of these PRIVATE accounts from Italy are by no evils, strenuously endeavoured to remove, means reassuring. For the first time since or at least to mitigate them. He advised 1861 Liberal statesmen are beginning to that the Government of the Tycoon should doubt whether Italy is really made, or remodel its own currency laws, and his sug- whether if it is made the existing constitugestions were partially adopted. Had they tional régime can be preserved. It is bebeen wholly acted upon, greater good would lieved in many quarters, and most believed have resulted. Timidity and prejudice by those who know most, that the financial prevented this, and half measures, as usual, difficulty is at last coming to a head, and ended in disaster, or at any rate in failure. that the Government may yet be compelled, Further counsel has been recently invoked or rather be induced, to adopt measures from the English Government, and while which must end in nearly universal dissatwe write, vigorous attempts are being made isfaction. Partly through the excessive to effect a complete re-arrangement of the parsimony of the Italians, partly through a Japanese currency. It would be premature system of collection so wasteful that the to adumbrate even the nature of the bases money received by the Treasury amounts upon which the new system of currency will to only 79 per cent. of the money paid by be placed, but it may be predicted with the people, the revenue falls short of the safety that decimilization will be one of them. At all events, it is undoubtedly true, that the experiences of the last few years have enlightened the minds of the ministers of the Tycoon in respect of the highly important matters of trade, currency, and coinage, and it is therefore more than probable that on these, as on other questions, ideas once reckoned as inadmissible, will be warmly entertained, if not willingly realized. The currency system of Japan, during the isolation of that country for many centuries from the rest of the world, was constructed on principles and framed with views so entirely different from those adopted by other countries within the circle of general commerce, that it may well be regarded, like other institutions of that strange nation, as a puzzle. The Government was able to control the coinage as it pleased, and there were only two channels by which it was attainable the Dutch and the Chinese establishment at Nagasaki. Now all this is changed, or in process of transformation, and American coins are in partial circulation throughout Japan. expenditure by at least eight millions sterling a year, and successive Ministries appear incompetent to establish an equilibrium. There are, of course, but two modes of securing that end-to reduce the expenditure one-third, or to increase taxation in the same proportion- and to both there are almost insuperable objections. Taxation in Italy is already high for a country with little external trade and not much accumulated wealth, and no tax not pressing directly upon the mass of the people can now be expected to draw. Unfortunately, almost any tax would be defeated by the economy of the Italians, who would go without anything, wine, for example, sooner than allow it to bear an increased proportion to their daily outlay; while the single tax which cannot be evaded - the tax on flour, to be levied at the mill - will, it is feared, if imposed, produce a general rising in the South, already deeply discontented, and perhaps involve a civil war in Sicily, where the Government is out of favour with every class of the population. Any other tax would cost more than it It will not astonish us very much to learn brought, and the Government is therefore that a new Imperial Mint, fitted with the driven back upon reductions, which must best machinery and most complete appara- include at least one third of its whole outtus which England can furnish, is ordered, lay. Three separate projects of this kind or that such an establishment is actually in have been offered, and have failed, and course of construction at Nagasaki. In Italians despondingly believe that the presthis respect at least, Japan will presently ent one will share the same fate. The be placed on an equal footing with America principle of the first, which was bold enough and the states of Europe. Who shall pre-in all conscience, was to lay up or sell the dict the future history of the mysterious nation in question, or guess even at the final extent of the moral, intellectual, and physical development of its people? fleet, reduce the Army to 100,000 men, and dismiss every placeman not indispensable to the administrative machine, but it was unpopular alike with Parliament and the constituencies. The Parliament was afraid, and, indeed, is still afraid, that Italy with a weak army would be compelled to follow France too servilely, would lose all chance of Rome, would surrender the South to brigandage, and would in the end have to buy French assistance with new concessions of territory or alliances. The electors, sympathizing in these views, were, besides, annoyed with the threatened attack on the placemen, middle-class Italians hungering for appointments even more than middle-class Frenchman, who would always prefer 401. and a uniform to 1001. and duty in a shop. The opportunity passed, and a second proposal was advocated by the Radicals to increase the Income-tax up to the necessary level, and extend it over the interest of the debt a proposal received on all hands as a deliberate breach of faith with the public creditor. That creditor, as we shall shortly explain, is unusually powerful in Italy, and the project, not in itself unreasonable or unprecedented, was ultimately laid aside, though Rattazzi even now finds it needful to deny its existence about once a quarter. The third proposition, Sella's, was perhaps the most hopeful to raise half the deficiency by a flourtax, abolish the other half by reductions in the Navy, the Civil administration and the Civil List, and then with a clear balancesheet and a revived credit, to meet any insurrection which might occur in consequence of taxation. The forced currency would at the same time be redeemed, and the floating debt diminished by a heavy tax on the landed property of the Church. This last proposal did not please the Parliament, which was opposed to any taxation of the Church - -a tax presupposing a guaranteed right to the property taxed but it sent up the funds, and might have passed, but for an unexpected obstacle. The King, who knows nothing of finance, and whose Civil List is burdened to an extraordinary extent, had been convinced that sweeping reductions were unnecessary, that they would involve excessive annoyance to himself and the employés, that the proposals for them were the result of bad government, and that it would be easier to change the Ministry than to accept them. He did so, and Rattazzi now finds himself face to face with the following facts. The forced currency must be redeemed, for the people, with whom economy is the tenderest point, are beginning to reject the paper money, even in payment for necessary stores, and the redemption will take nearly twenty millions. At the same time the - floating debt must be lightened, or the Treasury will be paralyzed in its daily operations, while it must also be increased by the whole amount of the annual deficit, for an ordinary loan could not be raised. Russia has just failed to raise one on most liberal terms. Reductions on any broad scale are impossible until the King gives way, and as yet he appears opposed to what he considers unnecessary sacrifices. To meet the emergency therefore, Rattazzi has nothing but a right, just conferred by Parliament, to sell a third of the property of the Church, which will, it is greatly to be feared, prove insufficient, though he is using it wisely enough. He proposes, we understand, to raise an internal loan, the bonds to bear interest, but to be available at par for the purchase of the Church lands as they are offered for sale. Repayment in full in land, instead of cash, is in fact guaranteed, and some twenty millions sterling may possibly be in this way raised, more especially if the Pope will sanction the arrangement. When that has been expended and it will be gone at once if the paper money is withdrawn - the Government must either induce Victor Emanuel to consent to huge reductions, involving grave personal sacrifices, or must offer a composition to the national creditor, or, in the more definite way of putting it, must reduce interest from 5 per cent. to 3. This idea, which has been quietly discussed all through Italy, excites prodigious discontent, and would, it seems certain, if realized, finally turn the people against the Government. Of the two hundred millions of the debt, probably three-fourths is held in Italy, mainly by persons who have absolutely no other resource. There are few objects of investment, the loans have been national and popular, Italians are accustomed, when they have saved something, to live quietly on their rentes, and the mass of individual misery caused by repudiation or composition would, it is honestly believed, be sufficient to overturn the kingdom. Not a family would escape a blow of the severest kind. The people would probably rise, but if they did not the next Parliament would be universally Mazzinian, prepared for any revolutionary extremity. Even the possibility of such an act excites the public to frenzy, and all Rattazzi's solemn denials made, we believe, in perfect good faith - are received with a deep suspicion. So irritable is the public, so sullen the Army, so doubtful the Parliament, that there is, we are told, in the opinion of acute observers, danger to the throne itself. |