The Sun.
London, England, 1852-12-16 00:00:00

(From the Morning Herald of yesterday.)
Pelopidas freed his country, because his foe, the Lace-
demonian, 'put a letter under the pillow for next
mormrit's perusal. If patriotic politicians do not, at
this emergency, without delay, hearken to a plain, sim-
ple, and energetic counsel, the day is already at hand
when the State must undergo strange, alterations. Let
not Pelopidas, in his turn, put the letter under his pillow.
In all history, and, we might add, in all fable,-there
is hardly one picturesque occurrence, or one startling
event, which does not seem to be a good and faithful
type of some portion of the destinies of our more prosaic
modern society. We have now reached a time of "last
words." Old politics are obsolete,"old parties are ex-
hausted ; the momentum imparted by great minds of
another "lay, to the machine of Government, and the di-
rection impressed upon its movements, are at last spent.
Happily, at this momentous conjuncture, the power of
the state fell into the hands of men for whom it is not
necessary to arrogate any unreal merits, or any factitious
claims to applause. Be it—(and let our concession
put an end to idle and irrelevant wrangling at a
moment so serious as the present,) —be it that
" adversity " and political humiliation may have
schooled that party which is now in power to address
itself so practically to jurisprudential and general re-
forms, and may have stimulated it to enter upon a new
and extensive career of measures "wise, just, and bene-
ficial,"—for the commercial, the manufacturing, and
the social advantage of the nation. If it be agreeable,
let selfish objects be ascribed to a generous and noble,
to an active and prosperous policy ; and (according to a
venerable rule) let the worst motives be found for the
best acts. What we would submit is—that something
more pressingly important than motives is at this mo-
ment under adjudication. What policy are we to have ?
How is the business of the nation to be transacted ?
What reforms may we hope to gain, and, at the same
time, what portion is to be retained of our stout old
constitution, which has been the prolific parent of so
many diversified and progressive ameliorations ? Such
is the question to be answered now, and such the
problem to be solved. For, to proceed methodically,
here we have a Ministry who are Reformers, because
they are Conservatives ; that is, a Ministry whose prin-
ciple it is that our institutions work well, and whose
very existence is, therefore, committed to the' proof
that those institutions possess within themselves a recu-
perative and rejuvenescent power, capable of meeting
the emergencies of more epochs than revolutionists
imagine. We have, in fact, a Ministry who, while they
cannot help being Conservative, have done infinitely more
for the cause of just reforms, and have paid a far more
earnest attention..ta, tljia reasonable wishes of the can- 4;,,,,:14.144.414,4
stituencies, than those who preceded them, and who
enjoyed fuller opportunities, greater means, and more
stringent pledges. The meaning of all this is plain
enough , the parties who threaten to convulse the state
unless grievances be reformed, live and flourish by those
very grievances. Those evils are a stock in trade. Why
do public meetings assemble ? Why are petitions signed ?
Why is he who convenes the one and recommends the
other the great man of a day ? Because there is some
anomaly, deeply felt, of which he forms the capital of his
influence, the spell of his power, and the material of his
reputation. Is he reallly anxious to abolish what
constitutes his only source of importance ? In
other words, is he anxious to annihilate himself ?
This is no more in the nature of a professional
Reformer than it would be in the nature of a sincere
Conservative to leave one abuse unreformed or one
grievance unredressed. He stakes his political exist-
encema nadine.unpgoarngreotshv
tee r
to
ota
al
nhi ndi
mhoerr inherentfall
ebmy
re r ieo
real
Isr
asoynf
system
eo umpre r
sc
loon si
ut
sti is t udi
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thenc
t,
in that system, and it is, we do not say his profession,
but his evident interest to apply a remedy. Self-pre-
servation and the very instinct of his proper advantage
make the Conservative a willing and tractable Reformer;
the very same motives impel the self-styled Reformer
not to amend, but to cherish and to extend and to per-
petuate abuses. In proportion as they are removed his
very occupation departs. When there is nothing to re-
form what becomes of the Reformer ? The less there is
to incriminate, the less field is there for the demagogue.
It is the difference between two men, one of whom wishes
to preserve the house in which both live, and the other
to build a new dwelling. The former repairs—the lat-
ter encourages every deficiency; for the former is the
friend of the edifice, and the latter of its decay. And
have we not plainly beheld this truth illustrated by the
conduct of the Whigs when they had the power to effect
reforms, and when they merely talked and declaimed.
Abuses are their staple; grievances are their capital.
At this moment, however, something more serious is
to be considered than the risk of letting back make-be-
lieve Liberals into power, and of ousting those Conser-
vatives, from whom the people can always obtain every
just enactment, and by whom even within so brief a
tenure of office so many inestimable measures have been
passed already. Here is the case : Let faction precipi-
tately and wantonly subvert the present Government,
because it has introduced the most liberal budget that
scientific economists ever yet obtained in England, and
three results are inevitable and obvious. First, there
will be a dissolution of Parliament ; secondly, there will
be a new reform bill ; and, thirdly, there will be, as a
matter of course, another dissolution of Parliament to
fulfil the purposes of that very reform act itself. It is
easy to show that all the real advantages of these events
can be gained without their actual evils ; and not less
easy to prove that those evils must ensue if, at this criti-
cal juncture, faction be permitted to overthrow an active
md.public-spirited Administration.

STATE OF TRADE.

(From, the Manchester Guardian of yesterday.)

MANCHESTER, Dec. 14.—The American advices re-
port a giving way during the last week of lc. to sc. per
lb. in the cotton market at New York and New Or-
leans ; but the freight to Liverpool had risen to id. per
lb.—counterbalancing the decline of price. The week's
receipts were 116,085 bales against 67,110, and the total
receipts exceeded those of last year by 273,120 bales.
The estimates of the yield continued to run beyond
3,000,000 bales. Violent rains had occurred in some
parts, whether or not in the cotton growing states re-
mains to be seen. That the accounts from England had
not caused a greater fall in the American markets is a
circumstance that has rather aided the tendency
to pause in the course of decline, which was
just beginning to show itself in the Liverpool market,
where cotton is not to be had at the lowest point
of last week within 1-16 d. to id. per lb. In our own
market, the downward tendency appeared to be halting
on Saturday ; and the impres-ion above referred to, as
having been produced by the transatlantic news, has
contributed to a slight recovery of steadiness. Last week
buyers could operate on terms which are either not
practicable to-day, or not to the same extent. This is
more particularly the case with some descriptions o
warps. But, beyond this, there is no improvement ; and
the business of the day, both in yarns and goods, has
been altogether very inconsiderable. We have a tele-
graphic announcement that the Bombay market is ac-
tive, but the letters have not yet come to hand. We
have some little business doing in India yarns and goods.
ROCHDALE,4 Dec. 13.—There has been an extremely

dull market to-day, and the demand for prices has been
more limited than that of the previous Monday. The
wool market is much the same as it has been for some
weeks past, both in demand and price.
MACCLESFIELD, Dec. 14.—There is no new feature to
note since our last report ; the 'sales made of silk goods
by our manufacturers during the last week are but few.
Thrown Silks—The market is very bare of fine descrip-
tions of Bengal trains and organzines, which continue in
request for shipment to the continent. There is also a
little more doing in China throwns for the home trade.

HUDDERSFIELD, Dec. 14.—We have no change of any
importance to report in our market this week ; we have
had an average one for the season. Job lots still con-
tinue to be bought up at prices that are far from being
remunerative. Some of the shipping houses are very
busy with orders both for the American and Canadian
markets. The wool market is firm, but not much is
being done in the staple article.
HALIFAX, Dec. 14.—We have had very few mer-
chants in our piece hall to-day, and scarcely any g00d,3,
either plain or fancy, have changed hands. The yarn
market has not undergone any material alteration. The
higher rates asked by the spinners check business ; 2,11 a
the advance which they afe—able to obtain is not suf-
ficient to cover the increased cost of the raw mate-
rial. There is not much activity in the wool market.
The quotations gradually creep upwards ; and the high
prices demanded by the staplers deter the spinners from
purchasing, except to supply immediate wants, as they
run out of stock.
BIRMINGHAM, DEC. 13.—The trade of Birmingham is
active. The hardware trade have more orders on their
books than they can execute, and find themselves mate-
rially embarrassed in the scarcity of raw material, and
the great advance in the prices. In addition to the rise
which has taken place in iron and copper, the article of
tin, which constitutes an essential ingredient in Birming
in price the-
ham manufactures, is rapidly increasing
prices being upwards of 21. per ton above those Of last
week, and a scarcity of the article in the market is re-
ported.

FLOODS IN THE RIVERS TAY AND EARN. Owing to
the heavy rains in the end of last Week,
and the strong
westerly wind, which had the effect of driving the water
out of Loch Tay, the river Tay rose to a very alarming
height on Saturday, and threatened a repetition of the
damage caused by the great flood of October, 1847. On
Saturday afternoon the water had risen so
much that it
was found necessary to remove the whole of the horses
in the Royal George Hotel stables, which were laid
under several feet of water. The flood also found its way
up through the drains the town's lades, and the common
sewers ; and several of the low-lying parts of the town,
such as the North Port, the sunk areas in Rose-terrace
and Prince's-street, were laid under water. The whole
of the lower part of the North Inch was also inundated,
and presented the appearance of a large lake. During
Saturday night the wind and rain had both abated, and.
by Sunday morning the river had begun sensibly to
abate, thus relieving the minds of many from apprehen-
sions of further damage being occasioned. The river
Earn, which flows into the Tay a few miles below Perth,
has also risen very high in consequence of the rain, and
a large tract of the level grounds of Strathearn is stated
to be completely covered with water.—Scotsman
UPPER INDIA RAILWAY.—The directors of the Upper
India Railway Company have determined to call for sub-
scriptions for three millions of additional capital, over
and above the million already subscribed. The shares
will be as before, namely, 201. each, and will conse-
quently number 150,000. Of this number 75,000 shares
will be appropriated to the present scripholders, being at
the rate of three new shares for every two now held ;
50,000 shares will be allotted in India ; and the remain-
der, and all such as may not be taken up here, will be
distributed as the directors may think advisable.