The Press. — London, England, 1853-09-10 00:00:00

the disadvantage, as it strikes us, of selling Consols at a low figure and I►urchasing Emile quer Bonds at a high one, as the latter securi ties, to whatever cause we may attribute it, are at a higher figure that the general state of the Money Market scents to justify. With these remarks we quit the subject. Either the information of the Awes is erro neous, or Mr. thAntrrosx is enq.aged in an in comprehensible operation of finance. The very suspicion directed against him is in itself some pr►►of that no very high opinion is formed either of his judgment or practical ability in City circles. Mr. 01.AosToss.: is, indeed, one of those men who can make a great display of knowledge on any subject which they have had time to get. up. He is expert in the arrangement of facts mind figures, and is sometimes able to astonish the deputations who wait on him by showing that he can instruct them in details of the questions they come to discuss with him. This kind of theoretical knowledge is cer tainly not to be despised, hut neither ought it to pass for more than it is worth. We have no doubt there is many a glib talker who would puzzle our Itothmehilda and Bitrings in an argument on the Exchange, but who would lamentably break down in the management of any simple transaction of commerce. lit filet, something more than mere intellectual know ledge is required in the conduct of actual business ; and the daily experience of life sufficiently proves that there is no character more dangerous and more liable to failure than that which acts on preconceived ideas and hastily-acquired knowledge, witl t that minute and technical sagacity which practice alone OW impart. Mr. (ii.AnsrosE may be very superior in ability to Mr. tioutauns, but he plainly is not so competent to that with I►raetieal operations of finance. Mr. lit.Atorrosr., with the impetuosity of genius, disdained to imitate the forbearance of his predecessors. He conceived that the time was favourable ti►r an opportunity of signali sing his ministry by a reduction of the inte rest on the public debt; and he attempted to seize a present trifling advantage even at the risk of future embarrassment. Ife was warned, but not impeded in his course. His ditlic•ul ties eommeneed when his measures were car ried, and all the power he had asked for was conceded to hint. Had his plans been really wise, those ad verse circumstances which are now urged in his excuse would have failed to disconcert theta. He should have proposed such terms to the holders of the stock he intended to convert as it was certain they would have assented to; and, if no such terms were pine ticable without loss or injury to the public. the time could not have been favourable to the openttion. Should Mr. tiI.ADSTONE maintain the sound ness of his views, and aim at their ultimate realisation, by attempting to control the price of any class of I lovernment securities. we fear the consequences may be more serious than have yet. been extierienced. That Finance Mi nister must be in a false position who en deavours by secret operations to obtain more favourable terms than would otherwise be conceded to him. THE DUNtiARVAN ELECTION.-MR, MA( I 7 IRE ANn ills ASSAILANTS. Ma. MAGUIRE Ibis nit only been SUNMAN' to the trouble and expense of again contesting Dungan -au. in order that. Mr. linmoND O'FLA UF:IITY might. " fight the best battle he could • for his party ": he is moreover now the victim of imputations on his character. A new com hAtant has stepped forth in the person of Mr. Commissioner Motenv. who, by the method interrogatory. charges Air MA4;1:11111: with hav ing atteMpted to sell his Vote to the Govern ment, as an equivalent for the use of influence with Mr. O'FLAuEnTr. to induee hint to alum petition against Mr. MAttutmes former Mr. MURPHY asks Mr. MAGUIRE he diet not request him (Mr. Mrs wait on Mr. HATTER, and also on the R doll the pi IferWSMl46l4ll. . A 1. .:o. ..: 4 +. ' '3l \ r7; i. - -. • ;.;i• A.. . S 6 '.:l 1J 'AIII THE PRESS. " Duke of NEWCASTLE, to get them to use their " influenee with Mr. OTLAHERTY to induce " him to withdraw the Dungarvtui petition ?" And, in anticipation of Mr. MAoutßE's affir mative answer, Mr. MURPHY triumphantly adds, " Give me leave to ask what equivalent you " wero to offer to them for theirinterference?" So that, at all events, whatever may have been Mr MAGUIRE's construction of Mr. MURPHY'S aid, it seems clear that the latter gentleman had no objection to be the go-between in a ne gotiation, which, if really contemplated, was not of a character very creditable to any of the parties. But Mr. MAGUIRE appears to have put a con struction on the matter much more honourable to the motives of Mr. MURPHY. Unable, from some cause or other, arising out of election polemics, to make direct overtures to Mr. OTEAndurrY, he seems to have calculated on the friendliness and good-fellowship of certain Irish Members, and, among them, of Mr. Sergeant, now Mr. Commissioner, MURPHY. " It is quite true," says Mr. MAGUIRE, in answer to the insidious interrogatories of Mr. MURPHY, " that I had frequent conversations in refer " enee to the petition pending against me with " Sergeant MURPHY, and it is quite true that " he volunteered, fully as often as I solicited, " his interference on my behalf. It is quite " true that he did speak to Mr. IIAYTER on the " subject. It is also true that, more than once, "he said, I'll speak to IIAyTER about it ; he'll " put an end to it.' It is quite true that I " did ask the hon. and learned gentleman to " do what I have a full recollection of his " volunteering to do—to speak to the Duke of " NEWcASTLE, as he Was supposed, erroneously " or otherwise, to have most influence with " Mr. °Twit:llTV. Moro than that is true—l " asked Mr. FAGAN to speak to Mr. HAYTER ; " and Mr. FAGAN did so. It is also true that an lion. friend of mine, Mr. E. B. ROCHE, " interested himself on my behalf, repeatedly " and zealously, not only for the purpose of " saving me from serious expense, and pro " testing me from the uncertain issue of a trial " before a parliamentary tribunal, but to put " an end to what Mr. llocuE, in common with " every Irish Liberal politician, not. imme " (Biddy identified with Mr. 011.AnERTY's per " sonal friends and political associates, regarded " as it scandal, and what Mr. Sergeant MURPHY " frequently denouneed as 'a damned shame, " and which he figuratively illustrated by the " metaphor of • hawk picking hawk's eyes out.' " But that I authorised any man to enter into " a corrupt compact on my behalf is-1 regret "to be compelled to use the phrase—a lie." And Mr. MAGUIRE goes on to adduce other evidence, in detail, of the truth of his version of the affair, making out what is certainly a very strong ease. One is at a loss to know why Mr. MURPHY intrudes into the dispute at all; unless, indeed, he be sensitive on the point of honour. The charge against Mr. MAainfir, which originally appeared in the Southern Reporter, was designated by that gentleman as " a lie," and Mr. MURPHY ap pear's instantly to have appropriated that vagrant epithet. It is a misfortune that Irish polemics eannot he earried on without the use of such expressions, or without a constant resort, to imputations on eharaeter. But, after reading Mr. MAorm's reply, the enigma of Mr. NI ERPIIY's conduct beeomes still more unintelligible. Mr. MURPHY himself somewhat astonished the public by the facility with which he dropped from the patriot into the pineeman. How would he like to have corrupt motives imputed to himself? Mr. MAoin RE ap pears only to have been actuated by a natural anxiety to avoid the vexation of a committee contest. He proclaims himself a " Liberal ;" but we do not remember to have noticed during the session that he exhibited any signs of bondage to the Coalition : on the contrary, his conduct has been independent and above faction. Had his proceedings been such as Mr. Mraptiv describes them, it is scarcely possible that his constituents would so soon again have returned him, by an overwhelming majority, over his vicarious antagonist. W e are no great admirers of Mr. MAGUIRE 8 politics ; but " fair play 's tt jewel:' SATURDAY, THE BOROUGH OF GRANTHAM. WE suppose that there are few persons so simple as to believe that the Government party really cares anything about purity of election, or that it is averse to any kind of jobbing which can secure a borough or add one to the number of its supporters in the House of Commons. The excessive indigna tion which it lately manifested at the idea of patronage being employed to influence votes was, indeed, carried beyond the line at which hypocrisy ceases to be profitable. The imposture was so palpable that it could only inspire ridicule or disgust; and we are afraid that the exposure of a particular instance in which Government patronage has been wielded for electioneering purposes will only be thought to prove what was perfectly notorious before. The case of Grantham, however, presents some peculiar circumstances. We believe it is new for Government influence to be exer cised in a small borough for the sake of strengthening the interest of a defeated can didate, in the event of a new election, and of damaging the influence of political op- ponents. At the last election for Grantham, the Hon. Mr. TOLLEMACHE, who had sat for the borough since P4:l7—a period of fifteen years—was de feated by a majority of 46. He was mortified no doubt by the loss of his seat, and it seems that endeavours have since been made to restore his influence, and detach votes from the si►ie of his opponent. To effect this praise worthy end, his friends in the Government have employed the borough patronage at their disposal ; and the defeated candidate is still the person through whom alone anything in the shape of Government favour and promo tion can come. Though there would manifestly be great im propriety, to say the least of it, in entrusting this kind of power to one who had just lost his election, as it could not fail to excite jealousy and dissatisfaction, and aggravate _party dif ferenees, we do not know that we should have gone out of our way had the supporters of Mr. TOLLEMACHE been rewarded with borough otfices only. But it seems the electors were to be taught that he had better gifts to be stow ; and within the last few months three persons have been nominated to situations in the Excise, the whole three being selected for no other reason that we can hear than because they or their relatives voted for Mr. Tom.KmAciix at the last election, and were among the most violent of his supporters. We refrain at ►resent from mentioning naming ; but we are m possession . of them, and, should our statement be called in question, we shall not hesitate to produce evidence to substantiate every word we have advanced. Now, what. are we to understand by bribery, if this be not it? Are we to be told that cor rupt practices depend on the accident of sue cess or failure at un election? Are they to pass unnoticed merely because tkey do not happen to be immediately successful, or are so system atically conducted as to take efiect at a dis tant period? Mr. TOLLEMACHE, by his ostentc tious display of Government influence, is doing his best to strengthen himself and his party in the event of another contest, and so the borough electors—quick enough, no doubt, in taking a hint—understand it. They say that Mr. TOLLE/AAA:IM is the man to look after his friends interests, that a vote given to him is never thrown away, and, to use a common phrase in the place, that " he can get for you " anything you want." Is not this a matter, in the view of the " purists," calling for inquiry ? Should Mr. TOLLEMACHE and his friends shrink from the investigation we challenge, the public will know what opinion• to form of the transac tion, and what is the worth of that pretended abhorrence of bribery which has been repeated by the Government party ad ikliffeMli.