The Sun.
London, England, 1852-03-13 00:00:00

£32,897,10 $32,897,145
M. MARSHALL, Chief Cashier.
Dated the 11th day of March, 1852.
BANKING DETAZTMEN T

£.
Proprietorecapital.. 14,553,000
11,st . ....• ...... 3,616,528
Public deposits (in-
cluding Exchequer,
Commissioners of
National Debt,Sav-
ings-banks, and Di-
vidend accounts).. 6,902,929
Other deposits ...... 12,124,056
Seven day and other

Government smut-

ties (including Dead
Weight Annuity) • • 13,565 323
Other securities •• • • 11,602,383
Notes •• •• •• •• ••• • • • 12,659,825
Gold and silver coin 512,925

~.... 1,143,943

£38,340,456

438,340,456
MARSHALL, Chief Cashier.

Dated the 1 I th day of March, li

t..: PIRIT of the PUBLIC JOURNALS.
TIMES.—The British hustings, with all their rude gran-
deur, as the constituent assembly of the people, and the basis
of our boasted Constitution, are seldom the scene of intel-
lectual display or political announcements. .Our readers,
therefore, will not be disappointed to find that the new Chan-
cellor of the Exchequer has given his Buckinghamshire con-
stituents nothing more than the old thing slightly adapted to
the present occasion. We have shaken and sifted his
speech all sorts of ways in the hope that some novelty
might catch the eye, and give a fresh turn to our remarks ;
but if anything new is intended by Government, Mr.
Disraeli has kept his counsel admirably. He only tells us
that various branches of British industry, of which he speci-
fies three—agriculture, colonial sugar, and. the shipping in-
terest--have now to bear an unequal, an accumulated, and a
ruinous pressure ; that this pressure was met by our protective
system,which, says be, we have suddenly and inconsiderately
abolished
that in his opinion a slight counter-
vailing
duty would be the best way to meet the many burdens
the first of these interests has to bear, but that if the country
should finally decide against that expedient, he and his
colleagues are prepared to relieve the agriculturist and his
fellow-sufferers by any other means in their power. All this
we have heard before so frequently that we are really con-
strained to allow the Right Hon. Gentleman some credit for
reproducing his old matter in a readable form. Whether it
be that we were lured on with the continual glimmer of some
expected novelty, or that Mr. Disraeli has the art of per-
suading hi 4 readers that they are listening to something im-
portant, we cannot say, but certainly we have got throug ti the
Aylesbury speech as easily as we should a chapter: in
" Coningsby" or the" Political life of Lord George." But,
after all, what is the speech, or rather, what is its object? Is
it to defend an opinion, or to prepare for an announcement?
Mr.: israeli so often asseverates that he is the same that he
has always been in Parliament, and will continue the
same in power as in opposition, that
we might
suppose him to be really enlightening the
defeatr.m
of Buckinghamshire as to the policy of the On
new
the other hand, he takes care to assure
Cabinet.
them he is not
pledging it to any particular measure.
must be confessed that he seems to Unfortunately, it
is to do the duty of Protection; promise something that
some equivalent; the thing itselfinsoinething in its stead;
It is true that he asks not protection a less invidious form.
long, however, as he says he but compensation; so
could, but, seeing that he would get a fixed duty if he
cannot, he will try for the best
possible substitute, he is bu
provoking the oying up the hopes of the agri-
culturist,manufacturer, reviving the old
quarrel, and bringing anunjust and unnecessary odium on
measures of relief that the interests he Mentions may possibly
require. lii these daysevery class is advancing its claimsdtt
other burdens remainto
relief; immense burdens
to
have lately beenremove , and
e renioved or mitigated;
50 the
public is quite prepared for b
the crowd of applicants
that each
year besieges an overflowing .•relief.
Exchequer pressing for lt
certainly is rather hard on the farmer, the shipowner, or the
W'r'est India planter that he cannot take his place in the
throng, and state his own •
grievances like the rest, without
the imputation of asking for favour. But, if he does not
find himself exposed to this imputation, we must say he has
to thank those injudicious friends who, if they no longer
dare ask for protestion, ask for a bastard form of it under the
name of conpensation. But does not Mr. Disraeli see by the
light of his own speech that this claim for compensation is
perfectly endless—endless not merely in time, but in the num-
ber of classes and interests that it must embrace? He enu-
merates three interests, now sinking under their burdens,
but he gives them only as instances, intimating that
British industry altogether requires a similar set-off
against foreign competition. But, take those three
interests alone, and see what a muddle we are in the moment
we attempt to aid one by the taxation of the rest. We are,
it seems; to tax the agricultural and the shipping interests
for the sake of the West Indian interest; the shipping
and West Indian interest for the sake of the agricultural;
and the West Indian and agricultural for the sake of the
shipping; all but one for the sake of that one; and that one
for the sake of all the rest. What a terrible pother, when it
is so much simpler and cheaper to tax nobody for the
sake of any body ! As for the peculiar burdens of the
agricultural or any other interest, such as exist have
already been taken into account in agricultural contracts,
and by this time have been settles on the . shoulders
best able to bear them, viz', those of the landlord.
The labourer and the farmer have their places even.
tually in the market of labour and of farms, and can only
experience a temporary inconvenience by laws which may
happen to depress that market; but any permanent depres-
sion falls at last on the landowner, and there remains. The
most, then, that Mr. Disraeli can make of his " peculiar
' burdens as far as they arise from unequal taxation, is that
land is improperly burdened to the extent of about two or
or, on his own estimate, a shilling
three millions a-year, 1" in
But what a miserable little grievance this is
the pound. wealthy interest to -
' for a great and bring in so-
L •
hernia form before the British egislature, to divide
that Legislature upon it, to convulse the whole
frame of society, to endanger the cause of good
and peace, to stop all salutary
order legislation, to
found lasting and incurable grudges, t') make the name of a
' landowner odious, and at this particular •
juncture actually to
open our shores to invasion ! After all, too, for this shadow
' the agriculturist is throwing awayall I • hopes substantial
his of
, relief. It is in the nature of things - and ' certainly this country
is no exception to the rule—thatall
laws, institutions, and
customs want continual amendment. ' All the interests of the
'
country ta their turn N./ant the assistance of the Legislature
for one purpose or another. MrDisraeli and his colleagues
have plenty to do in this " humbler*
and more useful" line
for their agricultural clients • butwill certainly not do
it if they ask for " Prot they
~
"Protection," or " compensation, or any.
thing of that sort.

THE ARMY AND • 1-1
ORDNANCE ESTIMATES.—We have
reason to believe that the army and ordnance estimates, as
proposed by the late Government, will be proposed by the
new Secretary-at-Virar, Mr. Beresford, and the Clerk of the
Ordnance, ceQlouel Dunue, without any Alterations.--Werald.