AN IDEA FOR PARNELL.

Thames Star, Volume XII, Issue 3898, 27 June 1881, Page 2

AN IDEA FOR PARNELL.

The National Advocate says.—uNoi? that Mr Parnell is paralysed by the passage of the Coercion Act, the suspension of the Habeas Corpus Act, by the establishment of despotism and the sub* version of liberty in Ireland, what remains for him to do P la he entirely destitute of power? Far from it. He has within his reach a weapon which O'Connell often used and which in hia hands, always proved irresistable. The instrument is a run upon the banks. The Bank of Ireland, which is half government, issues immense quantities of pound notes; In England the prinpical bank, of which it is a branch, issues five pound notes, which are likewise promised to pay. If every man in Ireland who holds a one pouud note, if every Irishman in England who holds a five pound note, will enter those establishments at the same moment and demand gold for his paper the bank will be broken—payment suspendedbusiness paralysed—commerce confused and Bankruptcy universal. The com* merce of England will be reduced to chaos and her industrial supremacy brought down to the lowest ebb. For the quantity of gold which is hoarded in the cellars of the bank is entirely inferior to the quantity of paper which is spread broadcast throughout society. Proud as the Bank of England stands—high as it lifts its head—it is wholly impossible for its cashiers to furnish in a moment solid money to every man who holds the paper money of the bank. There never was so much gold not only in the cellars, there never was so much gold in the world. Therefore it is wholly impossible for tha Bank of England to sustain a ran made simultaneously in the two countries fop the precious metal. As O'Connell before the Eeform Bill raised the the cry wbS|| Alison has recorded—" To stop the Duke, run for gold " —so Mr Parnell in tha present day, may raise a similar cry ." To stop Mr Gladstone run for gold. 1' Sooner than permit this calamity to embarras the commercial relations of England— to to spead panic, create dismay and generate consternation —Gladstone will yield up Davitt, withdraw the Arms Act, and reduce the Coercion Bill to a dead letter. He will cancel the bill rather than ruin the Bank.