The Sun.
London, England, 1839-10-29 00:00:00

of Cot

aiena 'ea eee s eTie elieeeed
dences during the year, and had, taken other premises of
equal value, still to enjoy the franchise. A more enor-
mous grievance it is not possible to eyiention, than
for a voter, who moves from one side of the
street to another, or even from one flat of a house to
another, and occupies premises perhaps more valu-
able than those which he has left, to lose his vote. I
felt this grievance very seriously the first time I had
the honour to appear amongst you as a candidate ;
and I then made an offer that no objection should be
made to those voters who had changed their residences,
but to allow every person whose name was on the regi-
ster to vote. That offer was not acceded to on
the other side ; for, from some reason which I have
never been able to comprehend, the Tories have always
been opposed to any improvement in the Reform Bill.
I introduced a measure into the House of Commons
to remedy this grievance, which was passed, but was
lost elsewhere. Last session a similar Bill was intro-
duced ; it went to the Lords, and then it was rejected ;
so that the grievance continues still unredressed, and
thousands of electors are disfranchised, and cannot be
enrolled for more than a twelvemonth afterwards.
These was another Bill which passed the Commons by
a large majority, which is, unfortunately not the law of
the land—l allude to the Irish Municipal Corporation
Bill, which would have done justice to Ireland, and car-
ried to that country the system of reformed corporations,
which have proved so advantageous in England, and
so beneficial in Scotland. The Bill passed the House
of Commons by a large majority ; and so self-evident
were the principles on which it was framed, that it was
supported by a considerable section of those who usually
oppose the Whig Government, and vote with the Tories.
Elsewhere what was its fate ? It was not rejected, but
it was sent back in a shape in which it could not be
passed. Among other things, the franchise was raised
to a pitch which was an insult to Ireland. The Bill
came back so mutilated, that I think you will be of
opinion Lord John Russell did right to move that the
amendment be taken into consideration that day three
months.—(Cheers.) In spite of these efforts of our
opponents, I must state, if you look to the last Session,
you will find that more has been done than in any two or
three Parliaments, when the Tories, who taunt us in this
manner, were themselves actually in power. With re-
spect to this part of the United Kingdom, there have
been passed measures of great importance. The Bank-
rupt Bill will be of important advantage to the com-
mercial interests of the community.—(Loud cheers, )
Then there is a bill of more importance, because it takes
away from Scotland a reproach to which she has long
been subjected—l mean the Prisons Bill.—(Cheers.)
The state of the prisons of Scotland has long been a re-
proach to our native land. That reproach is now re-
moved, and the Bill which has been passed will, I hope,
have a salutary effect of repressing crime and reforming
offenders. Another Bill has been passed for the better
administration of justice in the Supreme Court,—for
expediting the judicial business, and for rendering it
more rapid and economical. These things, I hope, will
not be forgotten, and they will always afford in Scot-
land some little consolation to those who feel keenly
the disappointment that more was not done. Mea-
sures of mere general interest to the country have also
been carried in the last Session of Parliament. There
is that glorious vote of the House of Commons,—which
the Lords could not deleat,—the grant for education.—
(Loud and long continued cheering.) I rejoice in that
applause. It is what I should have expected from an
assemblage of Scotsmen, whose boast has ever been
that they encourage education,—that they are not afraid
of the lower orders being enlightened, and who know
that the consequences of education have invariably been
industry, good conduct, and respect for the law.--
(Loud cheers.) It is false to say that in that vote
there was any disrespect for religion. I hope all present
are aware that, if I had conceived that the measure
had the most remote tendency to such a result, I
should have viewed it with the utmost alarm. That
plan had no such tendency. It opened, it is true, to
the members of all religious persuasions, the means of
intellectual improvement, while leaving to all the
power and affording the means of religious instruc-
tion. There is another measure of great general hn-
portence, of which lam sure you will approve-1 mean
the Bill for putting an end to the foreign slave trade.
The Bill gives her Majesty's cruisers full power to
visit the ships engaged in this traffic—to treat them as
pirates, and so to redeem human nature from the foul
stain cast upon it by the long-continued traffic in blood.
—(Loud cheers.) There is another measure which of
itself, in former times, would have been enough to
make the last session of Parliament memorable, and to
fix the minds of the people on it with grateful recollec-
tion. I mean the Penny Postage Act.—(Loud and long
continued cheering.) That glorious measure has been
carried, the importance of which it is impossible to cal-
culate, and I am happy to think that the efforts of the
citizens of Edinburgh contributed to this glorious result.
I was infinitely delighted when, night after night, I had
the honour to present petitions, not only from the Lord
Provost and Magistrates, the Merchant Company, and
every other public body in this metropolis, but alim &Om
a vast number of private individuals, sill eager to express
their opinion as to the importance of this measure. Armed
with these authorities, I not only expressed my opi-
nion in favour of the measure, but I had the honour to
attend a deputation on the subject to the Prime Mi-
nister and the Chancellor of the Exchequer, at a time
when the Government, not being exactly aware of the
consequences to the revenue, and not exactly knowing
the wishes and feelings of the people, still hesitated
I expressed, in the strongest terms, to Lord Mel-
(bi
uoo
cuni ogrnnfe ,
they
theour
Government
aielnrenisr
mn nieiunasdt
ftceooeii gd
yield,e roai
b 'by heeinhabitants of
Edinburgh on this subject. I believe that the expres-
sthat it was a safe and salutary measure, Whether we
convincing influence
them in
i
regard commercial, intellectual, or social improvement,
it is hardly possible to anticipate what the conse-
quences of the measure will be. It will not be con-
ferred on Great Britain and Ireland alone, for we teach
the nations how to live and how to govern ; and I have
little doubt, that before many years elapse, the system
will be adopted by every civilized nation on the face
of the globe.—(Cheers.) The consequences will be,
that mankind will then form one great family—time
and distance will then be annihilated, and there will be
a constant and rapid communication of thought, and
a constant and certain interchange of good-will, bar_
tl
ninny, and affection, among the various tribes of man-
kind. What may happen* to the present Government
it is impossible to anticipate. Amidst the clouds that
darken the prospect, there is some blue sky, and, as
Chartism has already passed away, I am not without
hope that the system whitth has been fostered among
us of late, of religious intoi!erance, and jealousy of every
free institution, may likewise pass away—that the peo-
ple of this enlightened country may be convinced, that
if a just medium can be preserved, it is better than
either despotism or licentiousness ; and they may come
to the conclusion, that it is better to be contented with
what is attainable than to struggle after impossibilities.
—(Cheers.) But, if it should be otherwise—if the
majority of the people of this country will adhere to
religious intolerance, and are determined to put dowel,
as far as in them lies, all liberal institutions, the experi-
ment must he tried ; then e must be a change of Govern-
ment ; the will of the majority ought to .prevail:'
(Cheers.) The experiment may be made, and then
the people will judge by experience whether they have
done well to discard a Go vernment which has conferred
so many benefits on the community, and to, abandon
the authors of those measures merely, beettnse
they have not accona plished all that ..some
enthusiasts think desirable .—(Great cheering.) •My
own view is, that this v could be an unfavourable
change for the country—ln y own opinion is, that the
Government which now e: iists would then be loudly
praised and deeply lenient( el by many who now give
it a lukewarm support—m y own opinion is, that the
faults which are imputed to it would be forgotten, and
its merits, perhaps, amplifie d and exaggerated. But I
apprehend it is better to sue port the Government while
it stands, than to lament it s fall.—(Cheers.) A little
earnest and strenuous exerti on on behalf of a Liberal

Minister would be much t nore satisfactory than the
roost laboured panegyric afi er he has ceased to govern.
—(Laughter and cheers.) I can only say, for my own
part, that I shall continue, to the best of my abilities,
to discharge my duty as your representative. The
Lord Provost has mentic !tied various local affairs in
which I feel a most live! y interest, and to which 1
shall devote myself with the greatest earnestness. The
marshes—(Cheers)—are c ertainly a reproach to this
splendid city. I hope s shall have a marsh re-
form, and even the Tories:will not think this change
ought to be lamented.— - (Laughter and cheers.) I
shall exert myself to the I jest of my ability to concur
with, or to suggest any ir ieasure which may have this
salutary tendency. I co nclude by thanking you for
the great kindness which you have shown me. I can
assure you that I care little, so far as 1 am personally
concerned, whether I am iii t office or out of office, but I
do feel the most lively de si re to retain your good opinion.
—(Loud cheers.) I am indifferent whether I occupy a
public situation of any description beyond that of being
representative of the me a-opolis of my native land.—
(Cheers). It would, hid! !ed, be a deep blow to me if I
should forfeit that confidence which you once reposed
in me. I see as yet, no ground for apprehending that
that calamity is in store for me ; I meet nothing but
kindness and cordiality I wherever I go.—(Cheers). 1
had the honour of makin g round of visits yesterday
to the Conveners of the d i3t rict committees, and I was
uniformly received with the !,:reatest cordiality. These
marks of your approbation I, tre the best incentives for
me to persevere in the conduct which you have ap-
proved ; and I conclude by 3 gain most earnestly thank-
ing you for the honour whit 12 you have conferred upon
me, and by wishing- health, happiness, and prosperity
to the electors of Edinburgh --(Loud cheers.)
The Lord PROVOST again rose and said, the toast
he was now about to propo: needed no eulogium nor
eloquence of his to recommei td it to the meeting. He
had already had the honour of proposing the health of
their distinguished represent alive ; for they were in the
unfortunate position at pi' esent of having only one
Member to the Commons' [louse of Parliament. But

tl.ey bad latc.ly enjoyed the servic,s of a distinguished
5;;.4.,,i0L3-1 and he hoped that
ere long they would again be enabled to return that
distinguished individual as their representative.—(Loud
cneers.) He need not tell them that he meant to pro-
II pose the health of the Right Hon. Thomas Babington
Macaulay,—(Loud cheering.) It was a proud reflec-
tion to the electors of Edinburgh, that the objects of
their choice bad been so often selected to fill important
situations in the Government of the empire. That
spoke loudly for the discrimination and judgment
of the electors of Edinburgh, and he was sure
there could be but one opinion, that in choosing Mr.
Macaulay they had done honour to themselves, and
conferred an important boon on their native country.
The. Right Hon, Gentleman was distinguished by splen-
did eloquence, by great force of talents, and by inte-
grity of character. During his short stay amongst us,
he acquired the confidence and esteem of the whole
community, opponents, as well as friends, to his ge-
neral politics. He has now become a member of her
Majesty's Government ; and be (the Lord Provost)
was sure that his talents and character would be an
acquisition to any Administration ; and his joining the
Government was the surest pledge the meeting could
possess of the steady patriotism and genuine reforming
tendencies of the present Administration.—(Loud
cheers.) His Lordship concluded by proposing the
health of Mr. Macaulay, which was warmly responded
to by the meeting.
Sir JAMES GIBSON CRAIG then rose, and was re-
ceived with loud and repeated cheering, by which he
appeared to be much affected. He said, before the
meeting closes, I am sure that you will all join me in
drinking the health of the Lord Provost, not merely
for his conduct in the chair—not so much for having
done us the honour to preside at this meeting, held to
express our thanks to our excellent Representative for
his conduct in Parliament—not so much even for his
conduct as Lord Provost, in watching over the interests
of the city—bat particularly for the way in which, during
a long course of life, he had advocated those principles
of independence and liberality which have raised this
country to its present high rank among the nations of
the world.—(Loud cheers.)
The toast was drank with every demonstration of cor-
diality ; and his Lordship having returned thanks, the
meeting separated.

ACCUMULATION, PROPERTY,
CAPITAL, AND CREDIT.

(FROM A CORRESPONDENT.)
SECOND ARTICLE.

We lately gave to our readers that part of Mr.
Everett's address which treated of Accumulation and
Property; which was in plain but forcible language, and
well suited for an assembly whose time had been pre-
viously spent in acquiring knowledge calculated to
make them useful citizens, as merchants and manu-
facturers; and we hope the subject is so clearly ex-
plained as to suit the capacity of every workman in
our land. We subjoin extracts from his Address on
Capital, which we hope will give equal satisfaction and
information to our readers as it has done to us :
" 111. It is usual to give the name of capital to
those accumulations of property which are employed in
carrying on the commercial, manufacturing, as well as
the other business operations of the community. The
remarks already made will enable us to judge, in some
degree, of the reasonableness of those prejudices which
are occasionally awakened at the sound of this word.
Capital is property which a man has acquired by his in-
dustry, or has, under the law of the land, become pos-
sessed of in some other way ; and which is invested by
him in that form, and employed in that manner, which
best suit his education, ability, and taste. It is an ac-
cumulation of the wages and profits of labour. No
particular amount of property constitutes capital. In a
highly prosperous community the capital of one man,
like Mr. Rothschild, at London, or of Stephen Girard,*
at Philadelphia, may amount to one or tyro millions
the capital of his neighbour may not exceed as many
pounds. In fact, one of these two extraordary men,
and the father of the other, passed from one extreme to
the other in this scale of prosperity ; and the same law
which protected their little pittance at the outset, pro-
tected the millions amassed by their perseverance, in-
dustry, and talent.

" Considering capital as the mainspring of the busi-
ness operations of civilized society—as that which, dif-
fused in proportionate masses, is the material on which
enterprise works, and with which industry performs its
wonders, equally necessary for the construction of a
row-boat and an Indiaman ; a pair of shoes and a rail-
road—l have, therefore, been at some loss to account
for the odium which at times has been attempted to be
cast on capitalists as a class ; and particularly for the
contrast in which capital has been placed with labour,
to the advantageous employment of which it is abso-
lutely essential. Capital and labour only differ in
degree.

" I hive supposed that some part of this prejudice
may arise from the traditions of other times, and the in-
stitutions of other countries. The roots of opinion run
deep into the past. The great mass of property in
Europe at the present day, even in England, is landed
property. This property was much of it wrested from
its original owners by the ancestors of its present pos-
sessors, who overran the countries with military vio-
lence, and despoiled the inhabitants of their possessions ;
or still worse, compelled them to labour as slaves on
the land they had once owned and tilled as free men.
It is impossible that an hereditary bitterness amongst
the aristocracy should not have sprung out of this rela-
tion, never to be mitigated, particularly where the
political institutions of society remain upon a feudal
basis. But, amongst artizans and workmen, who find
themselves oppressed and taxed out of all proportion
by that same aristocracy, I could not have expected
that such a prejudice should exist, and I hope that a
little time and further information will remove that
unjust prejudice from the minds of the working
classes. We know from history that after the Norman
invasion the Saxon peasantry, reduced to slavery, were
compelled to wear iron collars about their necks, like
dogs, with the names of their masters inscribed upon
them. At what subsequent period, from that time to
this, has any thing occurred to alleviate the feelings
growing out of these events? Such an origin of the
great mass of the property must place its proprietors in
some such relation to the rest of the community, as that
which exists in the Ottoman empire, and may have
contributed to produce an heriditary hostility on the
part of the poor toward the rich, among thousands who
know not the origin of the feeling.
" It is obvious that the origin of free political commu-
nities, and the organization of society in free countries,
furnish no basis for a prejudice of this kind against
capital. This wealth of the manufacturer may be
traced back to industry and frugality ; the paths
which lead to it are open to all ; the laws which pro-
tect it arc equal to all ; and such is the joint opera-
tion of the law, and the customs of society, that the
wheel of fortune is in constant revolution, and the
poor in one generation furnish the rich of the next.
We will not by this compromise the fact that in Eng-
land, more than in any other country, the poor are
taxed more than the rich—of that by and by. The
rich man, who treats poverty with arrogance and con-
tempt, tramples upon the ashes of his father or his
grandfather ; the poor man who nourishes feelings of
unkindness and bitterness against wealth makes war
with the prospects of his children and the order of
things in which halives..
A moment's consideration will show the unreason-
ableness of the prejudice against capital, for it will show
that it is the great instrument of the business move-
ments of society. Without it there can be no exercise
on a large scale of farming, or of the mechanic arts, no
manufactures, no private improvements, no public en-
terprises of utility, no domestic exchanges, no foreign
commerce. For all these purposes a twofold use of capital
is needed. It is necessary that a great many persons
should have a portion of capital ; as, for instance, that the
fisherman should have his boat ; the husbandman his
farm, his buildings, his implements of husbandry, and
his cattle ; the mechanic his shop and his tools ; the
merchant his stock in trade. But these small masses
of capital are not alone sufficient for the highest degree
of prosperity. Larger accumulations are wanted to
to keep the smaller capitals in steady movement, and
to circulate their products. If manufactures are to
flourish, a very great outlay in wages, in buildings,
fixtures, machinery, and power is necessary. If inter-
nal intercourse is to diffuse its inestimable moral, so-
cial, and economical blessings through the land, canals,
railroads, and steam-boats, are to be had and em-
ployed and constructed at vast expense. To effect these
objects, capital must go forth like a mighty genius,
bidding the mountains to bow their heads and the
valleys to rise, the crooked places to be straight, and
the rough places plain. If agriculture is to be per-
fected, experiments in husbandry must be insti-
tuted by those who are able to advance, and can afford
to lose the funds which are required for the purpose.
Commerce, on a large scale, cannot flourish without re-
sources adequate to the construction of large vessels
and their outfit for long voyages, and the exchange of
valuable cargoes. The eyes of the civilized world are
intently fixed upon the experiments now making to
navigate the Atlantic by steam. It is said that the
Great Western was built and fitted out at an expense
of near 100,000/. The success of the experiment
is as much a triumph of genius and of art as of
capital, and this may be given as an example of the
benefit derived from the use of capital, as the risk of
such an enterprize, long doubtful by many of the
ablest men in England, could not have been incurred if
a large capital Lad not been applied to build and fit out
that ship.
In like manner, every great investment of
capital whatever selfish objects the proprietors
may have—must, before that object can be at-
tained, have been the means of supplying the demand
of the people for some great article of necessity, con-
venience, or indulgence. This remark applies equally

* Mr. Stephen Girard, who died three years ago in
Philadelphia, and left a million of dollars to build a college
with, was a poor man, and accumulated immense riches.
Ile left by will that no priest or clergyman should ever
hold any situation iu his new college.