The Sun.
London, England, 1862-04-08 00:00:00

THE SUN, LONDON, T

to the word), shall we give England what she de-
serves ?" The house came down with thunders of
applause of assent. As it subsided, "No !" said
he, "we will do no such thing. That would not
be right; that would not be Christian. Do not nail
his ears to the pump," it would not be Christian.
But is it Christian in this Boanerges of the Taber-
nacle to lash up the popular mind to a frenzy of
hatred in this manner ? There are many here who
think not, and I am of the number.

New York is beginning to wake up a little on the
subject of the Tax Bill, which does not improve in
popular favour as its details become known. The
impression gains ground that it will ultimately be
superseded by a new measure which Mr. Chase has
already framed, simpler in its details and more pro-
ductive to the Treasury in the comparatively few
articles which are to be brought under its opera-
tion. The war, even under the most favourable
aspects, is likely to retard for a whole generation
the progress of the country, but if the Tax Bill in
its present shape were to be passed by Congress and
maintained without revision or repeal the whole
trade, manufactures, and industry of the Union
would be stunted for half a century, and it would
lose far more by its unwise fiscal legislation than it
gained by the strategy of its generals or the con-
ciliatory home policy of its statesmen.
The leading merchants of this city do not yet
consider it quite safe from the Merrimac, or any
other marine monster of the same kind, that might
feel disposed to pay it a flying and snorting visit
from Norfolk or elsewhere. The Chamber of Com-
merce has had several meetings on the subject, and
has, it is alleged, resolved to appeal to the public to
raise by voluntary subscription the sum of 500,000
dole. to put the harbour in a proper state of defence,
by means of iron-clad boats and batteries. The
Board of Aldermen, at a meeting held on Mon-
day evening last, accepted and adopted the re-
port of a special committee, recommending the im-
mediate issue by the city of New York of the same
sum in Harbour Defence Bonds. Boston and Phila-
delphia are also stirring with a similar object.
These cities have not considered the subject a
moment too soon. The South is believed to have
at least a dozen Merrimacs ready to steam up their
harbours, and their means of defence against such
unwelcome visitors are confined to the Monitor and
the Stevens battery—the one very effective in esse,
the other in posse, but neither of them übiquitous,
and the latter labouring under the serious disad-
vantage of not being completed.

The new Secretary at War, whose vigour offers a
remarkable contrast to the dilatoriness of his prede-
cessor, has created quite a sensation by suspending
no less than three newspapers—one in Boston and
two in New York—for the publication of news pro-
hibited by the War Department, as being of a nature
to give dangerous hints to the enemy. One of the
offending papers is the New York journal of Com-
merce, a great authority on all monetary and com-
mercial affairs, but with Confederate " proclivities"
a little too decided to be agreeable to the Govern-
ment. Not only have the three papers been sus-
pended, but the three editors have been summoned
to Washington to be tried by court-martial for vio-
lating the 57th article of war. It is not likely,
however, that they will be severely dealt with, the
temporary suppression of their newspapers being
punishment enough to act as a warning to other
editors, and to show that the Government is in
earnest.

On Monday, in Wall-street, 3,000,000 dole. of the
7'30 per Cent. Treasury Bonds were offered for sale
by the United States' Sub-Treasurer, by telegraphic
order from Washington. They found ready pur-
chasers at par, with accumulated interest, and the
whole operation was accomplished in less than a
quarter of an hour—a fact which shows in a striking
manner the reviving confidence of commerical men,
consequent upon the late successes of the Federal
forces.