The Sun.
London, England, 1864-10-15 00:00:00

illustrious in acts and arms by conferring on them
the franchises of our cities and universities ; so, now
we, the merchants of Liverpool, would honour our-
selves and you by enrolling in our Chamber of
Commerce the conqueror of financial difficulties—
the liberator of commerce, and the enlightened
friend of the working classes." In no possible
manner could the President have better expressed
himself; it was evident from his speech that he
thoroughly appreciated and truly defined the spirit
of the work in which he was engaged, and had come
forward in a style consistent with the English cha-
racter for independence, of which he truly stated
that the Chamber over which he presided was a
true type in its self-help and self-government.
The address was exactly to the point—not too dis.
cursive or too particular in its details—but rejoicing
that they who presented it welcomed in their
townsman a Minister and Statesman of renown.
The address from the Financial Reform Associa-
tion was too long, and touched on too many topics,
to be generally popular. The assembly appeared
anxious to come to its conclusion and hear the
orator of the occasion. In some passages, indeed,
the opinion of the audience was expressed in general
terms of dissent. It was no wonder that such
should have taken place when the address actually
stated that it was much to be regretted that Mr.
GLADSTONE had not retained the penny on the
Income-tax which he took off this year; and, in-
stead of its remission, abolish the Corn-tax. Such
a proposal could not have been popular ; and it is
as well that so large and influential an assembly
should have uttered a protest against it. The close
of the address held out the hope that in honoured
old age the CHANCELLOR might be able to say,
"not like the Roman EMPEROR, that he found our
cities brick and left them marble, but that he found
a fiscal code fraught with anomalies, oppression,
and injustice, and substituted for it a just system
of taxation, affording perfect freedom to trade."
Mr. GLADSTONE'S reply was, for the most part,
perfectly suitable to the occasion, and was charac •
terised with that clear and comprehensive style of
which the right hon. gentleman is so great a
master, and animated with that rhetorical display
in which he is so skilled and proficient. First of
all, his allusions to his early associations
with Liverpool were very agreeable to the audience,
and in this circumstance a peculiar and personal
interest was imparted to the affair. There is
always something particularly attractive in a dis-
tinguished person returning to his native scenes,
but it is seldom that such an opportunity occurs, or
at all events attended with such striking success, as
that which has so brightly shone over Mr GLAD.
STONE'S ovation. The right hon. gentleman dwelt
at some length upon the most important events of
the last few years in which he has taken a leading
part. The passage in which he alluded to the
notions that prevailed relative to Protection was
very effective, and disposed of the question in a de-
cided manner. He declared that the nations abroad
believed that we had got rich by Protection, and
now wanted to withhold them from enjoying the
same advantages; Such a doctrine was untrue in
every sense. "Protection did not lead us to
wealth, Protection had impeded and deferred our
progress on the way to wealth." Mr GLADSTONE
attributed great advantages to Franco having
joined the cause of free-trade, and indeed went so
far as to say that from her example he trusted that
the other nations after her by "a certain chain of
cause and consequence the final accession of every
civilised Legislature and every civilised people to
the principle which consecrates freedom of inter-
course between man and man, between country and
country."
Mr GLADSTONE was not so successful in his at-
tempts to favour the Bank Act of 1814, and indeed
it would have been difficult for him to succeed in
such a venture. He had to admit that it had been
followed by two periods in which no Ministry was
ready to be responsible for maintaining the
act in question. Mr GLADSTONE concluded his
able address by pointing out the most striking
characteristics of the age in which we live, and by
urging on his hearers not to relax in their efforts,
but to press on in the race that is set before them.
Population and trade have Lot reached their limit
in their present enormous growth. The right hoe.
gentleman rightly observed—" Have your dock-
yards reached their limit ? Has the extension of
Liverpool reached its limit ? When I was a child
its population was 100,000; now it has quadrupled
its numbers." Looking forward in this spirit of
enterprise there can be no reason to suppose that in
future times the inhabitants of this land may not
increase in wealth and prosperity even as they have
in times past. The Chancellor of the Exchequer
has done well and wisely in thus declaring that we
must look forward to faller results and greater
achievements than any which have as yet crowded
our cities with increase and covered our soil with
plenty. It was very suitable for one in Mr GLAD•
STONE'S position to dwell forcibly upon the inesti-
mable advantages that must accrue to us from the
spread of commerce, and in giving this matter so
much importance he but represented the great sub-
ject which engrosses so much of his attention, and
bears affinity to all lands and every class, directly
or indirectly. "Beyond, above, beneath, and around
other questions is embraced the destiny of our time
and the extension of those great laws of industry
and exchange, which are a wider and larger ful-
filment of the beneficent design of the
ALMIGHTY in giving different productions to
different climates and countries of the earth."
Mr. GLADSTONE enters fully info the true spirit and
style of that extended communication which bears
its blessings far and near, and removes the barriers
that seem to separate those communities that are
divided by mighty seas and extended lands. Com-
merce has been truly described as the crowning gift
to a State, and it is twice blessed for him that gives
and him that takes ; " it brings to the frozen north
the productions of the burning tropic, and makes
the whole world contribute to the daily happiness
of every home." It would have been impossible for
the affair at Liverpool to have gone off more suc-
cessfully, and all parties connected with it will
doubtless long look to it with pride and pleasure.
Mr. GLADSTONE has received a tribute that does
him honour, and must be regarded as one of the
bright landmarks which seldom occur in the
journey of life. Those who undergo the toils of
an official life can well appreciate such reasons,
and regard them as a counterpoise to the many un.
satisfactory passages which the most prosperous
career must witness, and for which there is no bet-
ter alleviation than to meet with appreciation and
sympathy.

There is little room for Federal exultation over
the news brought by the Persia. SHERIDAN'S
conclusive victory and triumphant position have
resolved themselves into a very awkward predica.,
mont. We all know the old anecdote about catch-
ing a Tartar, and General SHERIDAN seems to be a
modern illustration of it, except, indeed, that ht
goes a little further than the story, since the
Tartar has well nigh succeeded in silencing his
complaints to his ffends. The Confederates have
almost entire possession of his communications—e.
striking fact, when we remember tl_at it is the
first charge of a General to keep tht m open. All
I ti24t IV" QffiCilkilY known of him 4t New York, on