The Sun.
London, England, 1852-08-07 00:00:00

of immediate possibility. The declension in the
cause of the Whigs was signally evidenced by the
recent defeat of Sir GEORGE GREY in North Nor-
thumberland; while the reduction of the influence of
the Peelites was rendered not less signal :y visible
through the rejection of the Right Hon. EDWARD
CARDWELL by the electors of Liverpool. A straw
thrown up, they say is sufficient, to show which way
the wind blows. But two such men thrown
down during the course of the late electioneering
struggle was surely more than enough to demonstrate
the tendency of the times in regard to the great
question of Administration.
Neither a GRAHAM Cabinet nor a RUSSELL Cabinet
being at this period (as is obvious) at all practicable—
it is, if possible, still more apparent that no other
Ministry is capable of being evoked in the ordinary
course of events exclusively from the ranks of the
Opposition. A CLARENDON Cabinet is out of the
question, seeing that a RUSSELL Cabinet is . not
to be consolidated. As to the venerable Marquis of
LANSDOWNE, he has personally and avowedly closed
his political career ; and, therefore, cannot for a mo-
ment be expected to assume the arduous task of con-
ducting an uncertain and ricketty Administration.
Still less probable is it that Viscount PALMERSTON
could undertake the constructions of a Cabinet with-
out havine, first collected together the materials essen •
tial for such an enterprise. The last of the Can-
i
ningites, the Noble Lord, s as generally recognised
to be without an army of political followers as he is
admitted to be a consummate tactition, as well as a
vigorous and patriotic, and experienced administrator.
It is manifest, therefore, from all these considera-
tions that a strong Government can scarcely be ex-
pected to be drawn solely from the confused and
heterogeneous mass of the Opposition. Equally ma-
nifest is it, to our thinking, that, as at present situ-
ated, the existing Ministry is incapable either of
commandinga majority in the House or of securing
tlae confid
confidence of the population. Yet, such being
the case, we feel assured, at the same
time, that—if Lord DERBY be only true
to himself—both these advantages may be
extracted from the present golden opportunity. A
majority in the Commons, a sweeping majority, may
be obtained almost without effort by the Cabinet,
and obtained, too, as early as the ensuing month of
October. Immediately that majority were so secured,
the Ministry would forthwith, by a necessary con-
sequence, be invested with popularity, and would rise
from the degradation of a dubious venture to the
dignity of an energetic and vigorous Administration.
How all this might be accomplished must
be apparent on the very front of our propo-
sition. It might be accomplished simply by the re-
velation of the Ministerial policy—hitherto shrouded
in impenetrable darkness—by a revelation proving to
the country that the Earl of DERBY and his colleagues
are sufficiently appreciative of the wants and wishes
of the present generation. As Mr. STANLEY, the
Prime Minister of England acquired a glorious dis-
tinction as a reformer, let him, as Lord DERBY, show
that he is now as earnestly the advocate of steady
and progressive improvements. He would discover
very soon that his 284 supporters in the House of
Commons had been very rapidly and astonishingly
multiplied.
He would perceive that Sir JAMES GRAHAM
could act no less magnanimously towards the
DERBY Cabinet than Sir ROBERT PEEL did
towards the RUSSELL Administration. He
would find, we feel assured, a fervent, enthu-
siastic advocate of that line of policy in the
person of the Right Hon. the CHANCELLOR of the
EXCHEQUER. He would establish upon a broad
basis the fabric of a liberal, and popular, and ener-
getic Government.
In cherishing these aspirations, we can scarcely
be accused of being mere day-dreamers—for has not
the present Ministry declared itself from time
to time in favour—of Legal Reform—of Sanitary Re-
form—of Colonial Reform—of Educational Reform—
and of Fiscal Reform—or, in other words, of a
comprehensive change in the general system of
Taxation ? A step further and the desired goal
is realised—the Cabinet is consolidated and the
country is in possession of a strong Government.
That step is the duly deliberated reform of our vast
and complicated system of representation. Will
the present advisers of the SOVEUEIGN avail themselves
of the existing opportunity ? To their patriotism, to
their judgment, and, we \sill add, to their hononrable
ambition, the solution of that momentous problem
must be resigned until some day in October, when
they will be required to appear in th 72 presence of the
newly-elected_Parliament.

The weekly returns of the Bank of England afford
the most conclusive and satisfactory evidence of the
industrial activity and general prosperity of the
country. Intelligent and experienced persons in
monetary affairs long since laid down a principle
that the distress or prosperity of the country de-
pended on the circulation of Bank of England notes
being reduced to 16,000,0001., or advanced to
20,000,0001. In the former case there was
universal distrust, and, as a necessary consequence,
universal distress. No man would part
with the supply of money on hand, not
being satisfied as to his prospects of obtaining further
cash, although perfectly solvent in his circum-
stances, and enabled to offer unquestionable security.
The panic occasioned by the knowledge of the in-
adequacy of the notes in circulation to supply the
wants and exigencies of the country led to a general
stagnation and paralysis of every description of pro-
duction, and indeed of all industrial occupations.
Large sacrifices had to be made in order to obtain the
means for payment of wages and of the current expenses
of the establishments, and operations were contracted
within the narrowest limits. The revenue, too, suf-
fered, for the artizans and operatives, who were either
wholly out of employment or working short time,
could not afford themselves the ordinary comforts,
which they could readily obtain in more favourable
seasons. All then was gloom, perplexity, and mutual
distrust. There was not sufficient for all, and the
country was in the condition of the distressed family
described by LOCKE, where the children were each
pulling at the scanty coverlet in order to obtain
warmth for himself at the expense of his brother.
When, however, the circulating medium, the mea-
sureolet
without and representative of value, is increased to
20,000,0001.,
then there is abundance for all—the
enlarged,ehasbeednepriving
anotherand of the familyeachcan
himself
of
his rights. As a general rule, every man
able an
willing to work can obtain remunerative occu-
pa he tion provide. for the wants of
hpaistionfamily, ;
pay
sohpii:etyla,aubs enjoyriptionhis to the
club or benefit
day. The revenuye byfl
inequitable
luxuries, and, perhaps,
something for
a rainy
the na-
tional income exceeds the expenditure, flourishes, the
and the
contented and
general mast burdensome and
repealed or mitigated. The people arel"sta may be
happy, and nothing arises to mar the eg
tran-
quillity.
we are at present in that happy tien, and
poai
there is every prospect of a long aontinu.
ance of prosperity. By the return
for the
week ending the 31st of July, it appears that the
notes in the bands of the public amount to no leas
than 23,479,455/., or nearly THREE MILLIONS A/113 A
HALF OF FOUNDS STERLING more than that which
invariably produced prosperity and contentment ;
while the facts that the private securities in the hands
of the corporation were only 10,7996551., the notes
unemployed being 11,849,7001. (or nearly three times
the amount usually assumed to be required for
carrying on the business of the Bank), and
that the stock of bullion in the vaults
at Threadneedle-street is 21,710,108/a afford
the strongest guarantees for the continuance of
an equally auspicious state of affairs. The large im-
portations of bullion from California and Australia,
and the prospect of a considerably increased collec-
tion, when the improved machinery and skilled
labour sent out by several of the '
gold mining corn-
panies come into operation, which
ments in the 1 lCacu a ion, must not be forgotten.
The whole enables us, without arrogating t o. our-
selves any extraordinary powers of v t' •
predict confidently a
long continuance
a icination, to
of the
national pros •
perity, and a gradual, but steady and
decided, improvement in the prices of every descrip-
tion of property, so as to afford handsome profits to
those
tments who lose
time in making judicious in-
We ahould not willingly close g/y eiose an article on mone.