The Sun. — London, England, 1832-09-13 00:00:00

SPIRIT OF TH E PUBLIC JOURNALS. We had intended yesterday to conclude for the present any remarks which we had to offer on the report of the Bank Committee, and are only now i n d uce d t o a b an d on th a t intention, iiroin a wish to comply with the request of a cor respondent, who is desirous of seeing a short answer to the currency doctrines of Mr. Att wood, of Birmingham, detailed in his evidence, —which evidence, for the sake of his friends and disciples, we this day publish entire. The proper answer, we think, is already given in the reasoning rejoinders of the Committee itself, by -which Mr. Attwood was defeated in every posi tion which the bank-note manufacturers wished to take up ; but we have no disinclination to perform the office of matador to pernicious opinions, even when it may be alleged by some that we are " slaying the slain." If Mr. Att wood, and those who argue for an increased circulation of paper, not convertible into specie, for the purpose of depreciating the currency, were to confine the object of their proposition to the payment of the national debt and all other fixed debts, in a money of less value than that of the present metallic standard, however knavish the principle would be, — however like our yesterday's definition of the ancient Chinese circulation,—the project would be as intelligible as a picklock or a pocket-pis tol, sometimes employed likewise in forcible transfers of property. It would be a species of " equitable adjustment," brought about by spolia tion, like that of the gridiron man, though with less violence. It would, no doubt, diminish the pecuniary obligations of all debtors,—alter all contracts in favour of the party who had to pay money,—alleviate the burden of mortgages,---- and enable the Government to discharge the di vidends at the Bank with a much smaller quan tity of real national revenue. But when these parties were plundered,—when this " adjust ment" had taken place,—all the magic influence of the change would cease. No alteration in the currency could, by possibility, have the least effect in giving employment to labour,—in sti mulating manufacturing industry,—in calling forth the productive powers of monied capital,— or in securing to the industrious classes a greater proportion of the fruits of their toil. As the in fluence of the change would necessarily be gene ral, affecting all commodities alike, labour in cluded, it is evident to demonstration that it could not alter their relation to each other, and could produce no result whatever, for the better, to any class of the community. Though every man who has a sovereign in his pocket to-day were to waken with two in his pocket to-morrow, all other things remaining the same, it is plain that the relations of the commodities to each other would not be altered by the mere additional quantity of the money by which they are repre sented, and that the only effect would be a nomi nal rise in the price of all, proportionate to the fall in the value of the doubled pieces of gold. To make this truth manifest, even to the capa city of the meanest of Mr. Attwood's currency disciples, we beg their attention to the following obvious and undeniable remarks. A certain portion of the wealth, capital, or property of every nation is necessarily employed in circulat mg all its other exchangeable commodities. The articles of value employed for this purpose are generally the precious metals. The portion of them necessary for this office is no fixed or de finite quantity ; but it could not be permanently enlarged or diminished (all other things remain ing the same) without a proportional rise or fall of prices. It varies in different countries, and in the same countries at different times, ac cording to the extent of their population and wealth,—the activity of their trade,—the number of their exchange transactions,—and their more abridged or more cumbrous modes of business. In the United States of America about 14,000,0001. or 15,000,000/. of currency only are requisite for executing all the money transactions of the Union. In the immense empire of Russia, with a popu lation of 60,000,000 of inhabitants, about 25,000,000/. can circulate all the property which changes hands, or answer all the pecuniary transactions of the people. In France more than 80,000,0001. are demanded for the same service, and in England probably about 70,000,000/. We include, in all the cases above mentioned, both coin and paper, measured by the standard of coin. Now this portion of the national wealth, set aside for circulating the rest, according to the value of the precious metals in the markets of the world at the time—whether it consists of specie, or is represented by paper engagements to pay in specie—cannot be in creased or diminished beneficially unless by a corresponding increase or diminution of the pe cuniary transactions which it is employed to effect. If the currency thus created consists of gold and silver, whatever excess is coined beyond this necessary supply is melted down or ex ported. If it consists of paper convertible into gold or silver, the excess of the paper is returned upon its issuers for gold and silver, which are in like manner exported, horded, or converted into plate. If, in fine, it consists of paper not convertible into gold or silver, and therefore neither of use for export nor home consumption, the excess, not being able to escape from the circulation, depreciates the whole currency to the amount of its own superabund ance. This excess, therefore; can have no other effect than to derange existing contracts. It can never stimulate industry, nor improve wages, except in the course of the transition, or before the public become aware of its effect. It might, as in the bubble year of 1824, excite to unreasonable enterprises, at first transferred property from on hand to anoth er , b ut which could not, by their very nature, suc ceed longer than the arrival of the day of reckon ing, and only added a nominal value to the land and labour of the country,without increasing the reward of the latter or the products of the for mer. Mr. Attwood and his school of politi• cians, if they have any meaning at all (of which some of them are, no doubt, perfectly innocent), propose to issue paper-money in such quantities as to depreciate its value by its excess, or, in other words, till the promise to pay their notes in coin becomes a fraud and a falsehood. This must be their intention, or their clamour would be absurd, as they can now put forth as much paper as they choose, under the obligation to pay it in specie. Their cry, therefore, is—" Give us more Bank-notes. If the people should be so infatuated as not to prefer these notes to gold, and should demand sovereigns in exchange for paper, then let us have a restriction act. At any rate, for God's sake, give us more Bank notes." A restriction act is the principle, and certainly would soon be the result, of their scheme. How abundance of money got from this source, and kept afloat by this means, can benefit any class of persons but those who want to pay their debts with moonshine, it would puzzle greater ingenuity than that of Mr. Attwood to show. His beau ideal of paper money must be the paper ruble of Russia, which has fallen to one-fourth of its value. But have the labourers or the industry of the Mus covite nation p ro fit e d b y t h e f a ll ? I n 1814 an d 1815, it is mentioned by M. Storch, the Rus sian political economist, that the currency of Russia consisted of 575,000,000 paper rubles, which were originally issued for silver ; but which had fallen so much, that one silver ruble was equal in value to four of paper. Was it any gain to the ltussian peasant or shopkeeper to find his labour or his commodities repre sented by four rubl es i ns t ea d o f one ; or wou ld the Russian empire suffer any calamity at the present moment, did it see 150,00t000 of silver rubles replacing its Ittaaruple mass of Govern ment paper We are afraid that many of the perset who thus talk about the marvellous prosperity which the mere increase of currency would produce (so far as they do not mean the robbery of creditors), hate a very imperfect no tion of the nature of money, or entertain very confused ideas of the distinction between paper, wich can only be supported in value by a re ference to a metallic standard, and gold, which is the standard itself. And yet there seems no mystery metaphysics,—no charm or spell, about the precious metals used as money, or about " the promises to pay" certain quantities of these metals, called bank-notes. To understand the whole question-, and to see the whole absur dity of the paper-money quacks, it is not neces sary that we should strain our intellects, like some of the Parliamentary wiseacres during the bullion discussion in 1810, to form the abstract idea of a pound sterling, as detached from every sensible object, and represented either by what the poet calls " yellow dirt," or manufactured rags. Gold and silver, used for coin, are not the representatives 9f value,—as they have been stupidly called, they are value itself. They are so, as much as clothes, household furniture, or corn. They are not, indeed, worn like cottons, nor swallowed like food, but neither is a diamond ora musical snuff-box fit for such purposes, though both are allowed to possess some intrinsic value. They derive this value from the same source as every other desirable object of exchange,— namely, the labour bestowed upon their pro duction or manufacture. By labour they are dug out of the earth,—by labour they are refined from their ores,—by labour they are transported from the place of their production to the place of their use. A piece of silver represents labour as much as a bushel of wheat,—and therefore the metal exchanges for the grain. These metals, in serving as the instrument of exchange, do not cease to possess intrinsic worth of their own, which renders them a standard for measuring that of other things. They are so used, not from any charm in their origin above other articles, or any special destination of nature, but for their physical properties,—because they are easily divisible,—because they are durable,—be cause they are universally desirable, and have been so from remote ages,—and because they vary little in value, at comparatively long inter vals. If they were altogether invariable, they would form a perfect standard by which to mea sure the varying value of other commodities. As they are, they exchange for all objects of labour, being themselves the product Of labour. The King's stamp, however well executed, does not give them value ; it merely guarantees his sub jects against a diminution of the weight, or a deterioration of the quality, of the metal. It merely declares the piece of a certain weight and fineness. When the metals are abundant, they form the real wealth, though not the only wealth, of a State, because they represent labour, and will exchange for labour. But how can the same be said of Bank-notes ? They can never enrich a nation, like the precious metals. At best they are only a promise to pay certain quan tities of these metals. If they come in their place, they allow the metals to be employedpro fitably in some other way, instead of being bar renly used as coin ; but we must have their secu rity, if not their use. If they do not come in their place, but exceed the amount of the metals required, then they represent nothing, and must fall in value in proportion to their chance of not being paid at all, or being paid with a loss. We desire in England to have no depreciated paper like that of the ruble, though some Russian Attwood were to vouch for its wonder-working power.—Times. An incidental question suggests itself on pe rusing the evidence taken by the Bank Commit tee—namely, what is the effect on labour caused by the erection of expensive machinery in our days ? From certain statements made by Mr. Smith regarding the erection of cotton-mills in Lancashire in 1825, it appears that these erec tions, which owed their origin not to the wants of trade, but to the facility of obtaining money arising out of the misconduct of the Bank of England, have been the main cause of produc tion having constantly been somewhat ahead of consumption. The spinners continued their operations with a loss, because to shut up their works would be a still greater loss. In an article we yesterday copied from the Scotsman, it will he seen that the cause of the distress in.the iron trade is, in like manner, the unwillingness of those who sunk money in the iron works in 1825 to consent to a total abandonment of them. Mr. Thomas Attwood, in his evidence, observes with reference to this subject—"lt is a very curious fact, that the very distress of trade increases the production of some particular trades in two ways; first, workmen work harder in consequence of the fall of their wages; and second, the capi talists, in their struggles to avoid ruin, increase their productions." It thus appears, that when works have been erected in excess, the un willingness to lose the capital expended in the erection protracts the period of distress. Another effect, however, has not been so generally re marked. In former times, when less capital was laid out on works, trade sooner righted tself than it does now. But the labourers were then the great sufferers. We never, for instance, now witness such vicissitudes as those which Daniel Defoe describes in his Plan of English Commerce. " I remember," he says, " after the late plague in France and the peace in Spain, the run for goods was so great in England, and the prices of everything rose so high, that the poor women in Essex could earn one shilling to one shilling and sixpence per diem by spin ning. What was the consequence? 'Twas too — plain to be concealed. The poor farmers could get no dairymaids ; the wenches told them in so many words, they could not go to service for twelvepence a week, when they could get nine shillings a week at their own hands, as they called it. So they all run away to Hocking, to Sudbury, to Braintree, and to Colchester, and other manufacturing towns of Essex and Suffolk. The very ploughmen did the same ; and the ale• houses in the great towns were throng'd with them, young fellows and young wenches to gether, till the parishes began to take cog- nuance of them upon another account, too dark to talk of here. While this hurry lasted, the Baizes were called for in pro- digious quantities, and the price rose from 12d. per ell to 16d., besides the advance upon the parcels, an article peculiar to that business. As soon as the demand slack'd from abroad, all these loose people *ere turned off—the spinner 3 Went a begging, the weavers rose in re bellion, and the parishes were left thronged with bastards." Defoe speaks of these vicissi tudes as being of constant occurrence. " Upon some sudden accid en t i n tra d e (h e sa y s ) here comes a great UnuAnal demand for goods ; the merchahts from abroad have sudden and unusual commissions ; the call for goods this way or that way increases ; this makes the factors send large orders into the country, and the price of goods always rises according to the demand the country manufacturer looks out sharp— bites more looms, gets more spinners, gives more wages, and animated by the advanced price is not content to answer his new orders only, but he Continues the excursion he had made into the country for spinners, &c., runs on to an extremity in quantity, as far, or perhaps, further than his stock will allow; and, in a word, gluts the market with the goods. * * * His goods lie on h an d, t h e poor which he called from the plough and the dairy to spin and weave are cast off again, and not finding their way presently back to their old drudgery, lye and starve for want of work." It is quite clear that a manufacturer cannot so suddenly erect expensive works to answer a temporary de mand, and that he is restrained from embarking too extensively to meet demands, by the consi deration that machinery once erected must be kept in employ, to prevent loss on the fixed capital, and to preserve the machinery in order. Machinery, therefore, has a tendency to equalize employment, and is, therefore, of the greatest benefit to the workmen, who, without it, would be rioting in excess one day, and starving the next. The excess of production cannot, of course, be so soon corrected, as when the work men were at a day's notice thrown on the world to starve; but theca a powerful motive is given to the capitalist (on whom responsibility ought prin cipally to rest) to proportion his outlay to the probable demand. And, upon the whole, it seldom happens now that many manufacturers are out of employment. The principal sufferers from absolute want of employment are the me chanics who use no machinery, as carpenters, bricklayers, masons, &c., who are often in the greatest distress from the sudden cessation of demand. Let it not then be imagined, that be cause the Directors of the Bank of Eng land and the Government plunged the nation into the wild speculations of 1824 and 1825, out of which grew the immense erections of works from which the manufacturing dis tricts are still suffering, that therefore the erection of works (independently of the abridgement of labour) is not favourable to the workmen, by affording them a security against vicissitudes. The Government of 1824 and 1825, and the Bank Directors, their tools, were the causes of the enormous sacrifices of capital which the country has made. The burthen must be put on the right shoulders. Almost all the witnesses allow that the Bank, in advancing money to Go vernment at that time on the dead weight, in lending money on mortgages, &c., plunged the country into the difficulties from which we are still suffering. Mr. Easthope's evidence is conclusive on this point. The Bank had put it out of their power to act with prudence in time. They acted, as he says, something like setting a house on fire, and then finding the necessity of putting it out. The best excuse that can be offered for the Ministers of that day, and the Bank Directors, is, that they acted in perfect ignorance of what the effect of the measure would be. Indeed the evidence ofthe leading Bank Directors of that day is quite conclusive of their utter unfitness for the proper execution ofthe duty which had devolved on them. Every impartial judge will agree with Mr. Easthope, that the great evils that have happened have arisen from the Bank being choaked up with securities that could not be made available to them in case of necessity ; and that previous to the year 1825, the issues of the Bank were very large, unneces sarily and ruinously so, and then suddenly con tracted in a way to be ruinously destructive. The evidence of Mr. Richards, Deputy Go vernor, from April 1824 to April 1826, is a singular defence : " Was not the effect of that advance, as well as the ad- vance on mortgage, to increase the issues of the Bank be yond what the ordinary demands of commerce called for? - -I think not, according to my view of it ; I am perfectly satisfied, that had the majority of the Court of Directors considered that that advance would be detrimental to the country, they would not have undertak,n it; but for me now to recal every minute circumstance that formed the subject of our discussions, and the opinions then formed, I confess I could not do it without a great deal more coasi•- deration." The sum and substance of this is, that the Directors did not foresee the mischief which would result from their acts. They had, in fact, no principles to guide them.—Morn.Chronicle. Nothing is so disgusting in the system of this country as the markeddistinction made in practice between the rich and the poor. We remember whe❑ a Baronet in one of the midland districts shot at a clergyman, the Judge at the trial affected to be quite astonished how it was that the case was not proceeded in, at if it were not matter of no toriety that nothing is so easy, after arranging with the prosecutor, as to escape justice. A rich man can always compound in England for his crimes, provided they be short of capital fe lonies. When the case of the Rev. Mr. Doyle occurred a short time ago, we had no doubt that he would escape, and that the soldier, the neces sitous wretch, whom he had seduced, would be tried and punished. The soldier, of course, could not find bail. The Magistrates of Mary lebone office expressed a determination to take only good hail, as in a former case of a clergy man committed for the same offence at that office, through the insufficient bail which had been taken, the offender had escaped. We knew what to think of this at the time—we knew well that no Rev. Mr. Doyle would be forthcoming. He is very probably now with the Clerical Co lony at Paris, who, for a similar cause, find it more convenient to consume their tithes in that city than in England. The law is either good or ,h a d. If good, it ought to be put in execution. If bad, it ought not to be put in execution merely in the case of the poorer party. They manage matters otherwise in France. It is not above a tw e lvemonth since Baron Rothschild was sub jected to an imprisonment of several days for a contravention of some police regulation, in the same way as if he had been a street-sweeper. 'rho object of taking bail is not to allow a prisoner to escape, on indemnifying his sureties, but to prevent the hardship of imposing an unneces sary deprivation of liberty on one who has not been proved guilty. Here it is that character should operate. A man believed innocent by his friends would easily find bail. It might be otherwise with one who was not believed innocent. Were it known that the names of the bail would be published, we question whether it would be easy for a guilty man to find bail ; for part of the discredit would attach to those who appeared to be on an intimate footing with a guilty prisoner. Now how is it, if it were wished to prevent an escape, that so much pains are taken to conceal the names of the bail ? The clerk of a police office will always be found in the case of a rich man carefully, to conceal the narties. We leave It to Our readers to draw the proper inference. The inference which will be drawn is, that if a man possess money in England, he may always set the law at defiance.—,Morning Chronicle. As we shall have occasion in a very few days to take a general review of the Bank question, when the evidence has been in possession of the public that was taken before a Secret Commit tee of the House of Commons, we shall now only refer to the remarks of the Reforming Press within these two days ; and throwing aside the abuse against the Directors of the Bank of Eng land, as false as it is vulgar, these remarks lie in a narrow compass, and consequently our reply to them will be very short, repeating, for the hundredth time, that the Bank can only be an swerable for its conduct since the year 1819. The Times of yesterday, after stoutly advocating at the commencement of its observations joint stock banks of issue in London, towards the mid dle of them says, " The question, therefore, among intelligent persons will lie, not between the Bank of England and several joint stock banks of issue in the metropolis, by which the State would save nothing, though it might lose nothing, but between the Bank of England and a national establishment for managing the currency of the country and conducting the business of the Government, by which, with equal or greater security, a saving of 500,0001. a year might be effected for the public." Now it has been proved to a demonstration by every writer upon this part of the subject entitled to the slightest credit, even those favourable to the scheme, that a national bank would not save the country above a quarter of that sum, giving the utmost latitude of calculation to it. The Times then proceeds " In order to familiarize the minds of the nation to the latter scheme, we cannot too often advert to a part of Mr. Palmer's evidence, which has hitherto been overlooked, and which shows that the Governor of the Bank already consi ders its establishment as a department of the Government. To the question, What do you consider the principal function which it is the duty of the Bank to perform ?' He replied, 'To furnish the paper money with which the public act around them, and to be a place of safe deposit for the public money, or for the money of individuals who prefer a public body like the Bank to private bankers.' On this he was very properly asked, Are not these the functions of a Government rather than a private company ?' To which he modestly replied, That is for the Government to determine.'" To be sure it is ; and we would ask could Mr. Palmer have given any other answer than he did to the first question without stating a falsehood ; and, to the second, what other reply could he make ? But this, forsooth, is forcing the Bank into the position of a de partment of the Government. It is for the Go vernment to consider where the present principal function of the Bank ought to be placed. If there are no collateral considerations in this question, and the political, commercial, and financial relations of this country enable the Government to make any great change in the monetary system, so let it. be ; but that is a question for the Government, not the Governor of the Bank, to decide, and, if the former con sider that there is no danger in this change, then they have less prudence and foresight than even we give them credit for. The Chronicle has selected a most unfortunate evidence to prove its charge against the Bank, that it created the superabundance of money in Lancashire in 1824, by taking Mr. Smith's evidence, one of the Directors of the Manchester Joint-Stock Bank, who has distinctly stated, that it was bills of exchange being freely discounted by the Lan cashire bankers that caused the wild speculations in the building of mills and manufactories in that year.--Morning Post. One of the great curses with which England is at the present time inflicted, is the prevalence of abstract legislation ; indeed it may be said to be the great curse, for to its prevalence since the commencement of the present century, may be ascribed all that morbidity which is now para lysing the energies and exhausting the means of all the productive and active portion of the com munity. In no case has its baneful influence been more manifest than in the recent inquiry into the affairs of the Bank of England, prepa ratory to a further Act of abstract legislation in regard to that establishment. To the details of that inquiry the attention of the public is now almost wholly directed ; and in regard to it men's minds are agitated, in the expectation that it will develope the causes of the prevailing em barrassment, and disclose the way to retrieve their ruined fortunes. Fatal delusion, wherever entertained ! To say that the questions put and answers given are void of all interest, would not be saying true ; the most random shot will some times hit the mark ; the most discordant musi cian will sometimes produce the most mellifluent note ; while, as a whole, the performance is not merely destitute of interest, but annoying by its continuance, and the confusion which it creates. So, with the inquiry and evidence in ques tion ; a sparkling of truth and common sense is here and there interspersed, while, as a whole, it is made up of a mass of irrelative and unmeaning effusions of mere opinion. No such parade of inquiry was necessary. To a plain and common-sense inquirer the Bank of England presents itself in three points of view : —l. As a bank of deposit and discount ; in this capacity it is only on a level with 30 to 50 other establishments in the metropolis, and as many more in different parts of the kingdom, and needs in this respect no especial considera tion ;-2. In its preceding character, as a bank of deposit and accommodation, it transacts all the business of the Government ; that is, it re ceives and repays about 50,000,0001. annually on Government account ;—and, 3dly, and lastly, it is a bank of creation, and issue or circulation that is, it fabricates notes, and puts them into circulation as a substitute for metallic money. In this latter capacity it has an exclusive privilege, and in its preceding capacity of receiving and of repaying the taxes it has an exclusive preference. This privilege and preference have been con firmed from time to time to the Bank from its first last formation the time f or w hi c h t h ey being on th e po i nt o f were otr bargained but, fo expiring, the question now at i ssue i s , w h et h er or no t that privilege. and that preference shall be renewed and continued ? As regards th e ex clusive preference , it is desirable that the cash account of the Government should be concen trated somewhere ; but it should be so econo mically managed on the part of the Government as to prevent any undue profit o r a d vantage b e ing derived from it. The only p o i n t, then, which requires consideration, is that which relates to the fabrication and issue of notes. That a few individuals should have been permitted to create near 30,000,0001. value of notes on their own basis merely, and issue them at an interest of five per cent. per annum, as was the case in 1815, and that the Government itself should have borrowed largely of those notes at that rate Of in terest, is a stigma alike on the capacity and integrity both of the Government and Legislature. If any advantage is to be derived from a coinage or crea tion of notes, the Government alone should create them, and receive for them the value which they represent ) minas such consideration only as would defray the expense of pitting them into circulation. Then all tanks equally might cir culate them ; but, instead of reducing the ques tion to this simple propositioniit has been mixed up with criminations and recriminations of the past conduct of the Bank and the Government towards each other, and with speculations on the relative merits of a metallic and a paper cir culating medium, and the effects of the conduct of the Bank, in the enlargement or contraction of their issues, on the balance of trade and ex changes with foreign countries, as well as on the internal interests of the country at large. It is our purpose, as soon as we have had an oppor tunity of going through the whole of the evi dence, to see if any new idea can be deduced from it to expose the numerous fallacies which we have already found mixed up in it in regard to all the various subjects here adverted to, and to place the whole in such points of view as will enable our readers to see the relation which they bear to each other, and to draw just conclusions respecting them.—Morning Herald. The conduct of the Government of Louis Philip, for a long time past, is not to be ex plained on any principle of policy favourable to the rights and liberties of France. When Laffitte was in office we thought some of the acts of that Minister very weak and very incon sistent with his previous opinions, which had earned for him so much popularity. We could not account for much that took place under his Government but by referring it to the corrupting influence which the enjoyment of power has upon all public men, who are not of that first order of noble minds that consider no accession of power or riches an equivalent for deviating from the direct course of stern, uncompromising virtue. It is now clear, from other circum stances, as well as from the exposure of Cabinet intrigues made in the work of M. Sarrans, that Louis Philip himself controlled his Prime Mi• nister ; and that the latter was to blame, not for bad intentions, but for the weakness—and very discreditable weakness it was—of retaining for some time the responsible office of pilot of the vessel of the State, while an irresponsible hand held the helm, and steered her again in the di rection of those shoals and quicksands where she had so lately, almost by a miracle, escaped total shipwreck. But Laffitte at length awakened from his stupor to a sense of his awkward and dangerous position—a position in which he could reap no honour, but must incur all the disgrace. If he resigned in consequence of the despatches of Marshal Maison, communica ting the intention of the Austrian Government to control the States of Italy by force of arms, being concealed from his knowledge by the King and Sebastiani, until he learned the fact by acci dent, he had certainly good cause for withdraw ing from a situation in which his Sovereign so grossly deceived him. Though we did not know at the time the intrigue by which Casimir Perier became President of the Council, we formed a correct notion of that Minister's politi cal character from the earliest development of his line of policy. We always described him as playing the game of the despots, who hated the revolution of France, and were preparing to crush it, when the Polish insurrection inter rupted the design. In this line of policy Ca simir Perier was but the servile tool of Louis Philip, who, starting as a revolUtionary King, got half way to despotism by proclaiming the doctrine of quasi•legitimacy, and wishes to make the whole journey, if possible, provided the des pots of the Holy Alliance will receive him into their company, for which he does all in his power to qualify himself. The crafty politicians of the " Divine right" will accept his services as long as they think convenient, though they will find it a difficult matter to forget that the flimsy covering of quasi-legitimacy only veils a title derived from the' barricades." He has already made the experiment of est a bli s hi ng a b so l ute power in France, by putting Paris, contrary to all law, in a stale of siege. The experiment failed, to be sure—but that was not his fault : yet, should he prove himself as zealous a cham pion of the genuine principles of the House of Bourbon as Charles X. himself, the " legiti mates," whom he courts, will always consider him an intruder in the place which he occupies. Should he even succeed in extinguishing every spark of liberty in France, the birth of Henry V. will be a merit in the eyes of legitimacy which he cannot rival. It was soon after his accession that Louis Philip gave indications of desiring to get into another track than that of the revolution, by commencing his systematic and persevering war against the Press ; but it was not until the accession of Casimir Perier to the Ministry that the hostility to the freedom of the Press hilly developed itself, and became like a war of extermination. Most fiercely have those papers been persecuted by his Government which had most contributed by their patriotic energy to the overthrow of his predecessor's throne. Yet those papers continued to be of the same principles which they had advocated at the revolution. It was only his principles which had changed ; and the newspapers were assailed incessantly by the arm of penal law, because they did not desert their principles along with him. Much is said of the avarice of Louis Philip, and one of our Paris Correspon dents expresses his regret that the King does not seem to understand how seriously his par simony injures his popularity. If the people derived any advantage from his frugality of liv ing by his being content with a moderate Civil List, it would be well ; but it is a serious charge against the Citizen-King, that he should live in a style of sordid economy, while he bur dens the country with a most extravagant Civil List, and altogether the expenses of his Go vernment considerably exceed those of Charles X. To be prodigal in draining the nation, and parsimonious in his expenditure, are a bad combination of qualities in a King. Under such circumstances it cannot be said with rea son that the state of France is such as to pro mise a long continuance of its internal tranquillity. The civic struggle between free and despotic principles is still going on there ; and it is not easy to say what change it may produce, or what effect that change may have on the peace of Europe. But whatever may be the result, the disturbers of the present system are those who falsified their promises to the people.— Morning Herald. DUTCH PAPERS. THE HAGUE, SEPT. 9.—His Hopi Highness the Prince Field-Marshal arrived here yesterday, but returns to the army this evening. It seems that the troops of the 2d division will leave the camp about the 15th inst., after which some changes in the cantonments will take place. It will not be till that time that the head quarters of the Prince Field-Mir sbal will be transferred to His Royal Highne s s the Duke if Saxe Weimar is al most entirely recovered. His Highness was only a few days off duty. There is a report in the army of an armistice having been concluded for a period of some months. It must soon appear what credit is due to this report, which was spread here also a few days ago. Count Waldburg Truchsess, lately Prussian Ambas sidot to this Courts set out last week fur Sardinia. On the 7th be had his audience of leave of the King, at which his Majesty presented him with a handsome gold snuff . - b ix, enriched with diamonds and his Majesty's portrait; Count de Miltzahn, the new Prussian Atrib issadori has been to the Lon to wait on the Queen. M. Dedeli our Ambassador Extraordinary to the Spanish Court, has arrived here. DUTCH FUNDS.—AMSTERDAM, SEPT. 10. Actual Debt, 234 per cent 43 to 44% Aniort Syndic, 4 per cent.... ittd,. ditto, 3 1 7 1 , per. dent -• • “ 585 .2 to 59 Voluntary Loan, 1831, 6 Per bent ••• -• 96% to 97 Ditto, ditto, 1832, 5 per cent • • 83% to 8$ The lists just puniislied show a great eat; as in the number of deaths over births in the first six months of iiiM The deaths being 5,333 The births 4,370 Difference 9ti3 from the Ist of January to the 9th September, inclusive. From the 3d of September to, and including, the 9th, there have been deaths, 264 ; births, 130 ; excess of deaths, 134. THE CHOLERA. New Cases. Deaths. Rezoveries. 3 2 10 THE HAGUE, Sept. 7,8, and 9 No deaths on the Bth and 9th ROTTERDAM, Sept. 7,8, and 9 16 12 34 AMSTERDAM, Sept. 7,8, and 9 95 56 52 LEYDEN, Sept. 7,8, and 9 l6 12 34 The professors have announced that they will com mence their lectures this week.- The cholera, since its first appearance in this kingdom, has spread so rapidly that no province has remained free from it. We have from the commencement published the daily reports as completely as possible; but it may be in. teresting to give a general retrospect every month. The following statement is from the 25th of June to the Ist of September, from which it appeals, that as far as the re ports have been received, there have been 4,426 cases; 1,943 deaths; 1,645 recovered ; 838 remaining. THE MARKETS. .KET.—Sept. 12 rer Ton. F. d. Walls End Hetton 22 0 Walls End Lambton 22 0 Walls End Stewart's.... 22 0 Walls End Stobart's .... 17 6 Walls End Adelaide..... 20 6 Walls End Cleveland 17 6 Walls End Gordon...—. 19 0 Walls End Tees 22 0 Cowpen 21 0 Walls End Elgin 20 0 New Flockton, Milne, and Co. lB 3 Scremerstone Engine...—. 16 6 Silkstone Field and Co..— 18 6 Silkstonc Wilson 17 6 Stone Coal ................... 25 0 Thorpe's Gawber Hall 17 6 Walls End Selby 16 6 !e last market-day, 57. COAL MAR Per Ton. s. d. Beaumont 18 0 Hebburn Main 19 6 Pitt's South Moor 17 0 Pontop Windsor —..—..... 17 0 St. Lawrence Main ......... 19 0 Pan eld a — 19 0 10wn1ey.....-- * 18 0 Wylam Wall. En t Caperton 17 9 Ditto Bell, Robson, & Co. 18 9 Ditto Bewicke and C 0.... 20 9 Ditto Burraton 19 6 Walls End Gosforth—,.... 20 6 Walls End Hilda 19 6 Ditto Killingworth 19 9 Ditto Northumberland.. 19 0 Walls End Riddell's ......... 20 9 Walls End Walks, 20 6 Lambton'sPrimrose........ 20 0 Ships arrived sine, COUNFRY CORN MARKETS DURING THE WEEK. Wheat. Barley. i oats. Beans. ' Per Quarter. s. to s. s. to g. s. to s. r. to s. Abingdon..---... 62 81 31 43 22 30 38 -- Andover.* 73 80 37 41 - 23 44 Birmingham-. 56 66 40 44 24 32 - 52 3ridport 56 74 32 36 26 30 - 54 Cirencester 50 62 26 38 21 25 36 41 I.aringdon-.. 54 86 36 40 26 34 48 Guildford . 48 74 23 32 26 35 -. Henley 54 83 30 35 20 30 -.. 40 Hereford 84 92 44 48 - 52 Highworth 62 80 32 42 28 34 .-. 56 Maidenhead 56 68 34 44 22 30 36 37 Monmouth-........ 56 61 39 - - - -•-• Reading 65 90 31 47 21 27 34 42 Salisbury. 5O 64 30 38 21 25 36 54 Southampton . 54 58 33 40 28 32 - 46 Stroud - 48 Tewkesbury 65 74 30 42 30 38 44 Uxbridge 48 74 37 40 23 33 40 Wantage-...-... 58 80 27 43 21 30 34 42 Wanninster 48 e 4 33 36 22 27 34 46 Windsor 59 - - - 21 22 52 W0rce5ter........... 65 66 44 51 31 34 -. 50 LEWES MARKET.-Sept. 11. White Wheat (per quarter) X 3 0 0 to 3 0 Red 2 10 0 2 18 0 Barley Oats, New 1 0 0 1 3 0 Pease 1 13 0 1 16 0 Oil Cake. New 12 0 0 per thousand. CHELTENHAM MA RKET.-Sept. 11. - • - Per Bushel. a. d. to s. d. Wheat Barley 4 0 5 6 Oats 4 0 4 3 Beans Pease 5 0 7 0 Hay Si. lOs A RKET.—Sept. 11. _ Per lb. Beef Mutton I Veal Pork Lamb to Si. Iss. Od. per ton d. to d. 6 7 6 7 6 7 0 0 0 0 HULL MARKET.—Sept. 11. Wheat, Old —s 565. 655....... New —s. Ws. 634 Foreign —s. 545. 60s. ln bond... —s. —s. —e. Oats, Poland —s. 20s. 225. Old .—5...... e. —9. Small or Feed.... —s. 18s. 208 .. .....S. ....6. Foreign —s. 15s. 16s Barley, Norf. & Sof ... —4 335. 365. Linc. & Wold —s. 36s 38s. - Foreign —e. 6. • , •4. Beans 30s. 325. 345. Foreign... ..... ...-6. 325. 345. Pease, White —s. 365. 38s. Grey ....... ..... —s. 30s. 34e. •..___ Tares --s. —s. —s. Foreign ••-8. 30s. 5& Rapeseed, in bond none. DUMFRIES MA. s. d. s. d. s. d. 8. d. Wheat, Imp. Bush 60to 7 8 Butter, 16or. 0 o too 0 Barley Oats ........ ........ Flour, 141 b. 3 0 3 4 Mutton 0 4 0 5 Oatmeal 1 9 2 0 Veal 0 4 0 9 Potatoes, cwt. RKETS.—Sept. 5. SCOTCH MARKET HADDINGTON CORN MARI Wheat. Barley. Oats. First Bos Od 303 0,1 25s Od Second sss Od 30s Od 223 Od Third 'here were 324 qrs. of Wheat in market, 21 40 Unsold.-0 Grey. 2/. 16s. Id. ET.—Sept. 7. Pease. Beans. Od --s Od —s Od —s Od —s Od —• Otl 4 whereof were sold. Average 10-12ths. DALKIETH CORN MARK. Wheat. Barley. I Oats. First Bos Od 34s Od 26s Od Second 7os Od 328 Od 24s Od Third 4os Od 28s Od 20s Od T.—Sept. Pease. 348 Od 32s Od I 2 83 Od Beans. 34$ Od 32s Od 286 Od Yesterday morning, a few minutes before 1 o'clock, a dreadful fire broke out at the house of Mr. SEARS, the sign of the GEORGE IV., at the corner of Gil- , bert's-passage and Portsmouth -street, Clare-market, which burnt with fearful rapidity. Mr. and MR, SEARS and the domestics retired to bed about half-past 12, and shortly after flames were observed issuing out at the third floor window, ever the room in which Mr. and Mrs. Straus slept. The policeman on duty gave an immediate alarm , but before the inmates could escape the devouring element attained an alarming ascendancy. Mrs. SEARS, who had been confined for three weeks, with difficulty, and in a fainting condition, escaped, with her infant, in a state of nudity, and took refuge in the adjoining house, the Black Jack; the servant maid, who slept on the same floor where the fire commenced, had effected her escape by the tray door, and thereby gained the roof, where she was observed fo cries t o remain were d et e h d e he a r t -rendingbfiy fi r e-escape - h e e s cflaapme : s e be ; her shrieks and c those ben ea th told herr : form e assistancetime could pro c ured, which advice she fo rtunatel y adopted ; but b e fore the ladders could arrive , a butc her , named THOM AS , in the employ of Mr. SCRI VENE R , got upon the roo f through the adjoining house , and rescued her from h er p e rilous si;nation. qsuuire surrounded BIRTHS. On the Palmer AFaeliarifluell,dß, Bart daughter. a t u h g e h l te ad r y . of Sir Pere grine On the 11th inst. at Arb our-square, Commercial.road, MO' John Evans, of a daughter. On the 9th inst. at Ham mersmith, the lady of John Goff, EEs4''of a son. Palmera e lm Int er h P in : t. Ini MARRIED. of Middlesex,inst at W t 0 h c i h t cahr Charlotte, eh: daughterCharl e s T o . f G th as e k l e a l t l z G Es e t e , rim -1 Bruce, of Elstree, Herts. On the 10th inst. at St. Nicholas's Church, Brighton, Williar, S I aOnnmtehree,lll Whiteside, Esq., of Gower-street, to Eleanore Victorine, daugh ter of the late'Frank Gaudard, Esq., of Amiens. On the Iltli i nst. at St. Margaret's Westminster, J o hn Bobe r t Thomson, Esq., of St. John' s College, Cambridge, to Eirron: fifth daughter of Richard Estcourt Cresswell, Esq., of Pinknel park, Wilts. On the llth i ns t . at Chil ton, J osep h , second son of the R ev' ~f John Savill, of H a l s t ea d , E ssex, to S usan, youngest d aug hter "" Colonel Addison, of Chilton-hall, Suffolk. DIED. On the 9th Inst. of apoplexy, at Maidenhead, on his return_ from Devonshire, Mr. Joseph Slack, of West Smithfield; I°l- don, aged 54 years. On the Bth inst. at Wallingford, after a short ilfness, 1 r 5 Frene, relict of the late Mr. William Freme, of London. On the 11th inst. at Finsbury Pavement, Alexander Brocksta Greenwood, hosier, in the 60th year of his age. On the 7th inst.in Green Lettuce-lane, Mrs. Elizabeth, /Wel; aged 84 years, the widow of Mr. Airey, a relative of Tholn ad Guy, Es' q , who founded the hospital in Southwark. She h lately retired from the service of' Messrs Parkinson and Fr_"_A sham, of Change - alley, after having been their faithful 4"" honest house-keeper for nearly 30 years. PRINTED AND PUBLISHED BY MU RD 0 YOUNG, AT TIB SUN OFFICE, 112, STRAND, LONDON.