again mounted on the platform. This time, we are sorry to remark, that the meeting was neither so variously nor so interestingly attended as before. The Chartists very properly thought that they had nothing whatever to do with foreign loans; and, besides, that they had already been regaled with an ample allowance of Mr Cobden's eloquence on the subject. The two parliamentary poets were doubtless writing odes, and did not come. Also there was but a poor sprinkling of M.P.'s; but Lord Dudley Stuart was at his post, and Friend Alexander; and beyond these twain there appeared no notable whomsoever. Mr Reynolds must have been sadly missed. Mr Cobden's first speech at this meeting--for the lack of orators was such, that he was compelled to indulge his audience with two--was a very dull and dreary affair indeed. He began first with loans in general, and went on in his usual style of asseveration. "I say that, as I have gone through the length and breadth of this country with Adam Smith in my hand to advocate the principles of free trade, I can stand here with Adam Smith also in my hand, to denounce, not merely for its inherent waste of national wealth, not only because it anticipates income and consumes capital, but also on the ground of injustice to posterity, in saddling upon our heirs a debt we have no right to call upon them to pay--the loans we have this day met to consider." It is very hard that unfortunate Adam Smith should be made answerable for all the eccentricities of Mr Cobden. Little did the poor man think, whilst hammering his brains at Kirkcaldy, that their product was to be explained at a future time, according to the sweet will of so accomplished a commentator! Adam Smith had a great deal too much sense to expect that wars would cease to arise, and government loans to be contracted. His remark is not directed against loans, but against the funding or accumulation of them, which most of us, in the present generation, are quite ready to admit to be all evil. The remedy to which he pointed, was the establishment of a sinking-fund to prevent debt from accumulating; but so long as Mr Cobden's economical views are acted on, and the currency maintained on its present basis, the idea of a sinking-fund is altogether visionary. The evil which Adam Smith complains of is permanent funding, not loan. There is nothing imprudent in a man borrowing a thousand pounds from his banker, if he regularly sets apart an annual sum out of his income for its repayment: but it is a very different thing when he hands over the debt undiminished for his successor to discharge.