The Sun.
London, England, 1862-10-10 00:00:00

THE SUN, LONDON, FRIDAY EVEN/Ng, OCTOBER 10, 1862.

the ballot, which Mr. DISRAELI and the landlords,
whom he leads and obeys, so consistently dislike,
Mr. DISRAELI would probably stand little chance
of being " seventh" time " knight of the shire."
Why did they cheer, then ? We can
_conceive of
no other reason than that of their being in the
presence of their landlords, and Mr. DISRAELI
being their landlords' man.

Altogether different were the cheers at New-
castle, Shields, Sunderland, Middlesborough. If
the artillery, the music, the shouts of the multitudes
along the quays and river sides, and the shipping
dressed in flags, in honour of the Chancellor of the
Exchequer of the day, differ so much from the
quiet, after-dinner cheers of tenants-at-will at the
Bucks meetings, there was all the reason in the
world for it. Every man knew why he cheered.
Every man who cheered would have given his vote by
ballot for Mr. GLADSTONE, if Mr. GLADSTONE needed
his vote to secure him a seat in Parliament. Every
one of the masses of employers and employed knew
that his wages or income were the better for the
system which the member for Bucks and his party
opposed, and for which Mr. GLADSTONE had to
fight no ordinary battle. All had heard of the
snarling of the Tory party at the French Treaty,
though the constituents of many of them compelled
their members to support it, sadly to the grief of
the latter. Many would remember the hypo-
crisy with which the opponents of Protection
taunted Mr. GLADSTONE and Mr. COBDEN for
making a commercial treaty at all, and in their
new-born love for free trade carped at the only
possible mode by which the French EMPEROR,
without a political coup d'etat, could introduce free
trade into France. All had heard how, amidst
Tory growling, Mr. GLADSTONE had forced the
treaty on the squires, and they reasonably enough
glorified in their triumph the great successor to the
apostles of free trade. The three days' meetings,
addresses, and galas were the exuberance of intelli-
gent gratitude—not cheering to landlords' order.

A Chancellor of the Exchequer—the great tax-
imposer of his day—is not the member of the Go-
vernment whom the taxpayers would most naturally
be expected to cheer. But Mr. GLADSTONE is no
ordinary tax-imposer. His faith is rather in
abolishing than in imposing taxes. It has been
his to sweep the tariff almost clear of taxes, and to
abolish excise duties, and yet to sustain the revenue
of the country, while at the same time he lowered
the income tax also. Thirty-three millions, in
round numbers, was the six months revenue, before
his great reductions ; thirty-three millions is the
six months revenue, in the corresponding six
months of this year! And even this broad
statement gives but an imperfect illustration of the
working of the GLADSTONE system of finance.
Giving ns one of his careful calculations and making
every allowance, notwithstanding the repeal of the
paper and hop duties, and of a penny in the income
tax, the articles which are left taxed, have produced
a clear £600,000 more than they did previously.
And this is the man whom the DISRAELIS and the
STAFFORD NORTHCOTES, without a particle :of
financial genius, themselves, carp at, nibble at, and
denounce as a dangerous and rash man ! Danger-
ous Mr. GLADSTONE is—but it is to those who, after
a twelvemonth's trial by the nation of his plan, shall
attempt to drive him from his post.
The French treaty was naturally a prominent
topic with all parties, and of course with the great
orator himself. He had a right to be proud
of it. He gave indeed the highest places to
Mr. CoBDEN and the Emperor of the FRENCH,
and not a little honour to his chief, and
to the Foreign Secretary. But he could give the
fairest and tallest share of honour to others without
lessening his own. He had done the chief work in
the first assembly of the world ; Mr. GORDEN had
shared the spleen of a great daily journal for his
association with him, but he had to bear all the
gnashing of teeth, face to face with it, of exasperated
and interested parties and partisans. He had to
meet all the protectionist prophesyings and evil
omens, while as yet he could have no facts where-
with to rebuke the false prophets. He now has his
reward. They are but too glad to slink away from
their old position, to forget all their vaticinations of
evil; and to rehearse the story of the blessings of
the treaty, as if they had never denounced
it as a curse I We pity them. What can they
do ? A fair eleven or twelve months' trial
stands before these old prophets of curses—and the
treaty points to an unquestionable doubling—more
than doubling of our trade with our nearest neigh-
bour. It has changed a trade of nine millions and
a half into a trade of twenty -one millions ! This
eleven millions and a half of trade is just what
England would have lost had Lord DERBY and
Mr. DISRAELI been in office when the French treaty
as made. That eleven millions and a half is just
the bare comma' cial value, in one direction only of
PALMERSTON and GLADSTONE, compared with
DERBY and DISRAELI. We hope every English-
man will note it. We know political gratitude is
a feeble sentiment ; but we also know that for
fiscal "favours to come,"—a lively sense of which
is said to constitute political gratitude, the nation
would be mad if it did not scout the orator of
Bucks for the orator of Newcastle.
We hardly need add that the benefits of the new
French trade come at a most seasonable time. It
seems almost like a special mercy of Providence to
meet the loss of our trade with America, and to
enable us to aid the sufferers in Lancashire better
to bear their privations. Where should we have
been had Toryism ruled ouricountry in 1860 ? It
is really frightful to think of what we must have
suffered had not the ill-omened meeting at Willis'-
rooms extinguished the anti-commercial Tories.
In their madness the Tories turn round upon our
expenditure, and with good reason as it regards its
amount, but with the worst reason as regards them-
selves. They began it—they have compelled its
continuance—they perpetrated Galway, Cunard,
and Dover costly jobs to bribe votes—they would
not allow the least reduction of our Army and
Navy and Dockyard Estimates, the great
cause of our extravagant expenditure
they, with the most paltry political motives,
backed up the school teachers and school patrons in
getting national money for nothing. Tories have
forced a not unwilling Premier to spend largely, and
now are canting about economy and " bloated arma-
ments." Mr. GLADSTONE, on the contrary, has
always
They
hated
beenat
ed ha cmo n, sinisdteenedt,sufoprpohritser of real economy.
known
nantipathy
to the expenditure the Tories forced on the Cabinet.
However, Mr. GLADSTONE is prepared to antici-
pate, consistently, their inconsistent whining. He
has announced, as Minister, that when Parliament
meets again it will be seen whether,afterGovernment
has performed its first and permanent duty by mak-
ing provision for all the services, it will not also have
performed the duty "
wo of
was
doubtless retrenching
intended; and
expect to find the Government meeting the every expendi-
ture of an unnecessary nature." We accept the
announcement as itcountry
with proposals to expend less per annum than
SEVENTY MILLIONS,

MI?. GLADSTONE AST ON ND LORD PALMER

What letter of the alphabet expresses tb.e chief
difference between the Premier and his Chancellor
of the Exchequer ? The letter E—because the first
delights in war-houses, the second in Ware-houses.

LATEST NEWS.

THE BANK OF FRANCE.
PARIS, FRIDAY, OCT. 10.

The ltioniteur of this morning publishes the
usual return of the Bank of France, which shows
as compared with the Sep-
the following results,
tember account :

INCREASE.

Francs.

concord which animates the populations who have the hap-
piness of having in you at the same time a father and a
King."
The decree of amnesty is as follows :
" Victor Emmanuel 11., by the grace of God and by the
will of the nation King of Italy,
" Considering Article Bth of the statute ;

" On the proposal of the President of the Council,Minis-
ter of the Interior, and charged ad interim with the Minis-
try of Grace and Justice ;
" Having heard the Council of Ministers ;
" Have decreed, and do decree as follows :
"Art. 1. The authors and accomplices of the acts and
attempts of rebellion which have taken place, in the month
of August last, in the Southern Provinces, and who are not
guilty of ordinary offences, are free from all liabilities in-
curred in that respect towards justice.
" Art. 2. Are excepted, however, from the benefits of this
amnesty all soldiers or sailors. Our Ministers are charged,
insomuch as it concerns each of them, with the execution
of this present decree, the insertion of which we order to
be made in the official register of the laws and decrees of
the kingdom of Italy, recommending all whomsoever it may
concun to see it observed.

"Done at Turin this sth of October, 1862.
"VICTOR EMMINtTEL.

" RATAZZI."

7HE PRESIDENT'S INTERVIEW WITH

THE STATE GOVERNORS.

The following account has been given of the inter-
view between the State Governors who had as-
sembled at Altoona and the President. It took
place at Washington on the 26th : _ _

" The Governors of the following named loyal States
arrived here this morning from Altoona, Pennsylvania :
Massachusetts, Illinois, Rhode Island, Wisconsin, Penn-
sylvania, lowa, Virginia, Michigan, Ohio, New Hamp-
shire, Indiana, and Maryland.
"The last named (Indiana) was represented by Colonel
Rose. Between 12 and 1 o'clock the governors abovenamed
had an interview of an official character with President
Lincoln, and presented an address expressing :
_

" Ist. A cordial personal and official respect for the
President.

" 2d. A determination under all circumstances to sup-
port and maintain the President's constitutional authority,
the Governors therein speaking for themselves and the
people of their respective States.
" 3d. Pledging to the President their aid in all mea-
sures calculated to bring the war to an early termination,
which should be prosecuted to ultimate victory, unless all
the rebels should return to their constitutional duty and
obedience.

" 4th. Congratulating the 'President upon his procla-
mation to emancipate the slaves, believing it will be pro-
ductive of good as a measure of justice, humanity, and
sound policy.
" ' sth. Referring to the merits of the soldiers who have
fought our battles.'
" The interview continued three hours. They all repre-
sent it to have been of a pleasant and gratifying character
While plainly intimating their confidence in the Presi-
dent's integrity and ability, and assuring him of their de-
termination to support him in the discharge of his duties,
their recommendations partook of the nature of friendly
suggestions. Some of the subjects, he said, had already re-
ceived Executive consideration; but as others had now,
for the first time, been presented, he requested that they be
reduced to writing, in order that they might meet with the
attention which their importance demands. The Governors
having transacted their business with the President, some
of them left the city this afternoon for their respective
homes. It is ascertained from those who had the best
opportunities for knowing, that there was no proposi-

Lion made at the recent conference at Altoona, nor even a
suggestion ventured touching the removal of Gen. M'Clel.7
lan, nor was any proposition or suggestion made as to
the promotion of General Fremont to the head of the army,
or to the future disposal of that gentleman. The address to
the President, as agreed to, was written by Governor An-
drew, at the suggestion of the other Governors present. No
counter propositions or amended address was submitted.
Governor Bradford, of Maryland, alone did not sign the ad-
dress, expressing a fear that the President's proclamation
to emancipate the slaves might not prove as advantageous
as the Conference hoped, and regarding the matter as too
doubtful to justify him in taking sides in its support. There
was no dispute nor improper warmth of debate whatever.
The conversation was of the moat polite, kind, and con-
ciliatory character, and all present were animated by a
cordial spirit of unity in support of the Government, the
President, and the prosecution of the war, the principal aim
of the Conference being to express to the President their
sentiments, and to proffer their support to him in the future
as in the past, and to make the relations of all loyal men
and States more close, intimate, and firm. All, excepting
Governor Bradford, of Maryland, were heartily convinced
of the wisdom of the proclamation to emancipate the slaves,
and were desirous of expressing this conviction to the Pre-
sident. In the conference, various details relating to the
recruiting, organisation, equipment, and transportation of
troops were discussed. The Governors freely compared
notes, and agreed upon various points in this connection,
which they agreed to submit to the President and Secretary
of War. They did not, however, as to these matters, put
anything in writing, because they ilia "af to appear
dictatorial, and believing that friendly verbal communica-
tions, in a polite and respectful interview, would give them
effect so far as they might be regarded correct or beneficial,
The care and removal of the sick and wounded, and the
subject of furloughs to the soldiers, &c., attracted a great
deal of attention, the object being to produce reforms,
which all felt to be needed to secure the happiness of
families whose protectors are away, the welfare of the
soldiers, and the true efficiency of the army; to carry out
which reforms, should the Government adopt them, the
States will cheerfully co-operate. It was unanimously
agreed that furloughs should be so regulated as to prevent
future abuses. It was also agreed to suggest an army of
reserve, after the quota already called fcr shall be filled, of
not less than 100,000 men, to be detailed and disciplined at
home, and to be called out in cases of sudden emergency at
such points where there may be need of their services, and
to be mustered into service for 12 months, unless sooner
discharged,"

MARKETS---TATS DAY.

MARK LANE.

There was a moderate show of samples of English wheat
here to-day, and the trade ruled heavy, at fully Monday's
decline in the quotations.

The supply of foreign wheat was large. In all descrip-
tions sales progressed slowly, and prices had a downward
tendency. _ .

Floating cargoes of grain were in slow request, at late
rates.

Fine malting barley was firm in price ; otherwise the trade
was dull, at barely previous quotations.
Malt changed hands slowly, yet prices were firmly
maintained.

Both old and new oats met a dull inquiry, and the quo-
tations gave way 6d per quarter.
Beans and peas were in slow request, at is per quarter
beneath last Friday's currency. _

Flour met an active market. Nevertheless, good and
fine qualities ruled firm as to price.

ARRIVALS THIS WEER.
Wheat. Barley. Malt. Oats. , Flour. _
English.— 2,020 1 670 ; 3,930 • 1 1570 sack..
Irish -
Foreign.— 43,7-20 2,390. 1 I 0,990 sac
17,930 basks

NEW GATE AND LEADENHALL.
The supply of each kind of raeat is moderate, and the
trade rules firm, at full quotations.

Per 81b. by the carcase.
sdsB d s d
Inferior beef .. 2 8 3 0 ' Middlingmutton 4 e 4 2
Middling do. 32 3 6 Prime do .. 44 4 6
Prime large do. 3 8 3 10 Veal
Do. smalltdo. .. 4 0 4 2 Small pork
Large pork .... 4 0 4 8 Lamb
Inferior mutton. 3 8 3 10