The Express.
London, England, 1847-09-08 00:00:00

fllwe&aterseldeot. It is no doubt irritating to see
Milasfacturer—the Manchester muta-
t° a scion of the house of FITZ-
• ltulimtelitie bewaser, is not the full extent of the
earl's present gdo4 as will be felt at once by those
who remember certain grave demonstrations in
palace-rmi IFeetrainster, in the early days of the
League, of the lib sad heard of pressing for total
repeal of the atioem Bad any other middle-class
fivetrader beam Om dem of the West Riding, it
would have bent Ism allissive than that it should be
COBDEN, of all see, who led on the free-trade
phalanx to victory, by acting in direct opposition to
counsels given by Earl Frrzwatism, with shakes of
the head .unrivalled for mysterious meaning since
those of SHERIDAN'S Burleigh. And the men of the
West Riding have even capped their contumacy in
choosing COBDEN, by refusing to be terrified by
Earl Fitzwmusit's dark hints that they will find
free trade something very different from what they
expect
Finding the manufacturers imperturbable, Earl
FrrzwiLtuat turned to try whether Lord Moarrre
and those leagued with him in office were not more
susceptible. lie flattered himself that he had got the
senior knight of the shire for the West Riding on the
horns of a dilemma when he broached the question of
Austrian outrages in Italy and direct diplomatic later-
course with the court of Rome. He absolutely hugged,
himself at the idea of Lord Morierre either awaking
against himself "the sonorous bray of Exeter
Ball," by avowing his readiness to concur in sending
an envoy to Rome, or incurring the suspicion of in-
telligent liberals by observing a diplomatic reserve on
the subject. But Lord MoRPETU'S proverbial good
humour stood him in as good stead as their Ingle-
pendent confidence in their own intelligence and
energy had stood the cutlers of Sheffield when the
Sir MUNGO MALAGROWTHER of the West Riding
tried to embitter the feast to them by melancholy
inueadoes as to the future. Alluding to Earl FITZ-
WILLIAM'S apologetic preface, that the gentleman who
proposed his health had made a little breach in the
hedge which separated the company from politics, Lord
Moaerra quietly told the noble earl that he " had
driven the famous old family coach and six right
through that breach." And how could the immortal
memory of the FITzwILLiAM coach and six be re-
ceived in Hallamshire but with shouts of laughter ?
Earl FirzwiLuse took so little by his motion that
for any purpose of punishment it would be unneces-
sary to notice him. The spleen of this Cassandra
of timid economical reformers, driven inwards by the
honest self-reliance of the cutlers of Sheffield and the
playful sarcasms of Lord Mourne and Mr. WARD, to
feed on the breast that nourished it, was chastisement
sufficient for the self-willed disturbance of the social
hour. But the temper manifested by Earl FITZWIL-
LIAM at the ban of the Master Cutler, coupled
with his ill-ja letter to Mr. DENISON, warrants
the inference t the noble lord's spleen may influ-
ence his future political conduct. Public men of Earl
Frrzwit.usu's calibre—indifferent honest, but men
of one idea—are extremely apt to be driven into erra-
tic courses by fancied slights. It is desirable that the
friends of liberal policy and progress should know
where they are to have him. Is Lord FrrzwiLmsm's
quarrel with his old colleagues only, or with the libe-
ral canoe in general ? Will it content him to remain
isolated and play the cavilling part of a less genial and
less loquacious enocuesat ? Or will he repeat the
FITZWILLIAM desertion of the liberal party in 1793?
To the cause the course he may pursue is of little, to
his own hitherto respectable public character of infi-
nite, moment

A Civarisr correspondent, of whose stricture
upon us we feel no inclination to complain though
we cannot accept his complimentary prophecy, is
of opinion that we shall be found hereafter among
the advocates of Mr. O'CONNOR'S economical po-
licy. It is impossible for us to enter into the con-
troversy which a complete answer to his objec-
tions, to which we have given a place in this
day's paper, would occasion. Newspaper writers.
whose business it is to apply political principles to the
changing circumstances of the times, cannot re-open
the fundamental questions of politics and economy
every time that their general doctrines are disputed,
It is absolutely necessary to assume certain proposi-
tions respecting capital and labour as finally esta-
blished, if we are to discuss practical questions in
any way whatever. We admit at once that if
political economy is a dream, if an improved
system of distribution can supersede the laws
which regulate the creation of wealth, the Chartist
scheme of flourishing on the subdivided soil is, if not
exempt from defects, at least secure from any criti-
cism of ours. In the mean time, we repeat that accord-
ing to the ordinary course of causes and effects, it
appears to us that the shareholders of the land com-
pany will obtain no more land than they can pay for,
and that the purchase-money of an allotment suffi-
cient to maintain a family would, in any other form,
render the owner comparatively independent.
Our correspondent, indeed, objects in phraaeo-
logy, with which the public is sufficiently fami-
liar, that such a sum would not have the bene-
ficial effect ascribed to it, if "sunk in the shares
of a bubble company, or in the bills of an aris-
tocratic swindler ; and we must admit that if the
money was lost, the owner would no longer be the
owner ; though we suspect that there are Sews in
London who would be sorry to exchange their
profits on the bills of aristocratic spendthrifts for the
best location at O'Connorville. It Is of money kept,
and not thrown away, that we speak. A cottage and
four acres of land can scarcely be worth on an average
less than 1501., and the owner of such a sum, in any
form, cannot properly be classed among the poor
wretched persons whom our correspondent so feel-
ingly describes. Ile saw, it seems, in a " paradise" of
two acres at O'Connorville, a freeholder who, a few
months before, had been an inmate of Nottingham
workhouse. Probably he was a prizeholder in the
land lottery. If the guardians had known of his ap-
proaching competency, they would not have been jus-
tified in advancing to him the property of the rate-
payers except in the form of a loan secured on his
contingent interest in the land. But, passing over
this question, would not any pauper be the better for
a windfall of 701, or 801 ? If it was not a windfall,
but a freehold in early expectancy, he was not really
amispatratr, though he may have been relieved under •
as to his circumstances,
We could not make the fallacy of supposing tkat
the estates of the land company are created by it more
obvious if we were to ring the changes upon the pro-
position that the purchased land only represents the
purchase money through a dozen articles. The eel-
I.eve owners of a sum of 70,0001. have thought
prom to invest it, as they had a full right to do, in
land, on which some of them are now, in more or lees
comfort, residing. We brio means say that it would
have been wiser to buy government annuities with
their capital ; but they might have done so with a not
very different result. Our correspondent reminds us,
however, that the whole capital of the society is not
sunk in land, but that a portion of it forms the capital
of a bank ; or rather, the bank is to be conducted by
means of the deposits alone with no money capital, and
on the basis of the Lind as the sole security
to the depositors. It is sufficiently clear that this ar-
Part is no respect alters the state of the case.
bank returns a profit, it is the legitimate return
for the capital invested and the risk incurred; and
by the amount of that risk the land which is liable to
meet it is less valuable to the owners, who, if they ex-
pect to add the advantages of money dealing to those
of husbandry, must be prepared for the possibility of
bankruptcy as well as for bad harvests. We regard
with some suspicion a !maculation in which the share-
holders of • bank are also to be its sole or principal
customers, a relation which has brought some of the
wealthiest joint-stock banks into irrecoverable diffi-
culty. As long as the deposits at 31 per cent. balance
or exceed the loans at 5 per cent, the bank may stand
and return a profit ; but, in • bad season,the borrowers
will become more urgent for assistance, at the very
time that the depositors wish to withdraw their
capital, and the business must come to a stand still,
unless the land, on which the wholesysistm is booed,
is converted into money to meet the d•
But we have digressed from one min ilea" is
touchineeven slightly on the damns 4 ths latrine
scheme. If it should prove to be stingidsguit=
Om, the world at large as will al So
will be indebted to the ingenious Lewes e of the
my
_lan. We have already. said thanes Mess lb pe-
als objection to the experiment, mega asi it ie an
experiment tried with the money of tho psis To
those who lave no money to spare, sad as audit to
dispose oaf all speculations are equally inseaMs. In
the present insane, itisarranged that thole mesa= of
the association who wish to borrow shall obtain loans
at 6 per oent., while those who horn savings to dispel

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