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( I7IRE 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

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