The Sun.
London, England, 1853-09-29 00:00:00

THE SUN, LONDON, THURSDAY EVENING, SEPTEMBER 29, 1853.

duct, will," said Lord PALMERSTON, " amply an-
swer and repay the confidence and support which,
I trust, and am persuaded he will receive from
the great mass of his fellow-countrymen." It is
not merely to vague words of encouragement that
the country is lending ear consequently—but to
distinct promises of energy, and to explicit predic-
tions of a more chivalrous line of policy : promises
and predictions, it will be observed, made
'by two of the most conspicuous members
of the ruling Government. Assurances of
considerable weight as coming to us from the
lips of Lord JOHN RUSSELL and of Viscount PAL-
MERSTON. It is scarcely credible, therefore, we
maintain, that the language of these statesmen
can be, as the official organ would intimate, only
"fire and fury, signifying nothing"—the lan-
guage voluntarily uttered by the Leader of the
House of Commons and by her MAJESTY'S principal
Home Smr(tary. No: in spite of every declaration
o the contrary, we must believe, for the credit of
Lord PALMERSTON and bis Ministerial colleague,
that the boasts of the one and the panegyrics of the
other have been justified by the transmission of
larger powers to the British Ambassador
at Constantinople, and of more resolute instruc-
tions to the British Admiral in the Medi-
terranean. Otherwise, the Coalition will be shown
to have yet more shamefully paltered with the
honour of the Crown, by meeting Russia with
words of menace and acts of subserviency—a con-
jecture which every patriotic observer must be
loath to entertain, until actual events have proved
beyond the possibility of doubt that the national
credit has indeed been thus infamously and de-
plorably compromised.

Yesterday afternoon a favourable reaction
occurred on the Stock Exchange. Up to that time
the downward tendency of the quotations of
stocks and shares still continued. It is useless to
attempt disguising the fact that a complete panic
had set in on the Stock Exchange, that sales of
public and private securities were pressed, the
holders submitting to the most serious sacrifices,
in order to obtain a present command of money,
for which, in all human probability, they should be
seeking new investments within a few weeks at
greatly advanced prices. The excitement was, in
fact, increasing, although no new circumstances
had been brought to light—no fresh authentic
intelligence had transpired to account for or jus-
tify the unreasoning alarm. A rally, however,
took place on the arrival of the Typhoon and
Marlborough from Port Philip being announced,
bringing with them nearly eighty thousand ounces
of gold, of the value of close on 320,0001. ster-
ling ; and also on the Essex being reported, said
to bring about ten thousand ounces, of the value
of 40,0001. more. It was also discovered about
the same time, that the Bears had been carrying
their operations a little too far ; and that so far
from their being an excess either of Stocks or
Shares for delivery, there was, in fact, a short sup-
ply, so that the last price of Consols was 92k. It
was said that after regular hours there was a
slight falling off, and that transactions took place
at 92 to f
It is to be anticipated that the Ursine fraternity
will make the most energetic efforts to continue
the excitement hitherto prevailing, and to ensnare
other victims in their toils. They will not easily
permit such rich booty to escape from their
clutches, and the readiness with which many per-
sons, during the early part of the week, threw
their property unreservedly on the market, must
encourage further attempts on the pockets of the
community. We trust, however, that the parties,
who are now fully awakened to the designs of
those desirous of reducing their purses to less
plethoric dimensions, will profit by the salutary
warnings, and preserve their property from the
grasp of the spoilers. Everything, in fact, that
has hitherto come to light should be regarded
with satisfaction—should allay rather than en-
hance their apprehensions. We should feel thank-
ful that a portion of the combined squadrons have
entered the Sea of Marmora, and there would be
additional cause for self-gratulation if we could.
be assured that the remainder of the French
and English Fleets had anchored in the same
position. The real ground for alarm would be
a continuance of the strange and unaccountable
timidity and vacillation that has brought so much
contempt and dishonour on the British name,
that has destroyed our ancient prestige, and en-
couraged every puny despot to insult and injure
British subjects, and to disregard the representa-
tions and remonstrances of British diplomatists,
affording fresh illustrations of the fable of the
living ass and the dead lion. But the once ma-
jestic animal is not dead. It had been drugged
with soporifics, but, when at length aroused, woe
betide its long-eared assailants. The intelligence
that the long-continued apathy had been shaken
off, should be received with joy and satis-
faction by every manly heart in the United King-
dom, and every right-minded Englishman should
lend his aid to support and sustain the party
anxious to vindicate and retrieve the honour of
his country, in place of attempting to injure the
financial resources of England and paralyse its in-
dustrial energies. There is but one consolatory cir-
cumstance connected with the transaction, which
is, that any degree of pusillanimity will carry
with it its own punishment—that an avenging
NEmßsis will pursue the terrorists, and that they
will suffer a just retribution for their conduct, in
the losses they sustain through their unreasoning
folly.

What, we ask, is there so very formidable in
the anger of Russia--even if sustained by Aus-
tria—to produce such excessive terror—such dis-
graceful alarm ? If, according to Lord JOHN
RUSSELL, " peace without honour is no longer
peace"—if it be nothing but "a truce, a preca-
rious truce, to be denounced by others whenever
they may think fit—whenever they think an op-
portunity has occurred to enforce by arms their
unjust demands, either upon us or upon our
allies"--should we not rejoice at the approaching
termination of this untoward state of affairs, at
any cost ? Has not the protracted suspense been
as injurious to our commercial interests as any
war in which we could be called on to participate?
Have we not suffered as much m inetary derange-
ment as if, on the first invasion of the Danubian
Principalities, we had displayed the Union Jack
in the Black Sea and in the Baltic, and had made
Russia deeply rue her unscrupulous and unwar-
ranted aggression ? If we lived on a volcanic soil,
should we not willingly accept permanent safety
at the expense of a present eruption ? and why
should we not, in like manner, seek a conclusive
and permanent arrangement of the constantly im-
pending quarrel—a final solution of the difficulty,
without which there can be no honourable or
enduring peace.
We have already endured the evils of war
without its advantages ; and if we, in conjunc-
tion with the other great maritime European
Power, do not muzzle the greedy Bear, we shall
continue to endure similar
evils to the end of the
the world ; they have never for a moment been
disguised, and she has only waited for a favour-
able opportunity for carrying out her nefarious
objects, and pushing her incessant encroachments
to their natural termination viz., the annexation
of Turkey in Europe to her own dominions.
That opportunity she saw in the accession to
office of the Coalition Government, and the
assumption of the chief place in the British
Cabinet by the "good and excellent A
ou whose apathy, if not connivance, she fancied
she might depend, and thence
the proceedings
which have entailed such practical inconvenience
and such enormous losses on all the nations of
Europe, and more especially on that which
had the misfortune of being placed under
That she
the direction of such a Minister.
was not mistaken in her estimate of the
First Lord of the Treasury is unfortunately but too
notorious ; but, happily, his vacillation has been
counteracted by the steady and unflinching deter-
mination of the British people—his apathy has
been counterbalanced by their active energies.
Never were we better prepared for war, and, what
is: even more to the purpose, never was Turkey
more ready for the final appeal to arms. In place
being taken at a disadvantage, a better time
c, Auld not have been selected, and we almost thank

the AUTOCRAT for suffering his cupidity and am-
bition to hurry him on to such lengths, that no
further mistake can exist either as to his own
grasping and aggressive policy, or as to the
treachery and perfidy of his congenial associate—
the " RED EMPEROR."

The Porte has now numerous and well-discip-
lined troops, amply provided with all the muni-
tions of war, and burning with anxiety to be led
against the invaders of their country. The insults
of Russia have sunk deep into their hearts, are
branded in indelible characters on their memories.
A degree of enthusiasm is felt by even the com-
monest soldier, which must exercise a material in-
fluenca on the contest. They will also have many
valuable allies—Poles and Magyars—victims of
despotism from many lands will flock to the
standard, burning to strike' a formidable blow
against the hated tyrants who have driven them
from theirnativesoils to wander as refugees through
every country that dares to afford them shelter
from chains and stripes—the gallows or the fusil-
lade. Are such men to be despised ? Is such
assistance to be slighted ? They will inscribe the
history of their unparalleled wrongs and sfiffer-
ings in letters of blood on the Calmuck hordes of
the despot to whom these wrongs and sufferings
may be mainly if not altogether attributed—drive
them from the fair provinces they have so wan-
tonly and so unwarrantably occupied, and carry
the war into the enemy's dominions until Russia
be restricted within its ancient boundaries, and
compelled to disgorge the plunder of past genera-
tions.

Meantime France and England, in cordial co-
operation, will scour the seas, until the flag of
Russia, or of Austria, if she join in an iniquitous
compact with the Northern Despot, dare not ven-
ture on any sea or ocean—nay, more, until their
ports are occupied by French and English fleets,
their fortifications dismantled, and their commerce
annihilated, What can they, or either of them,
do to France or England, more particularly when
Hungary, and Poland, and Lombardy will pro-
vide ample occupation at home, and rise regene-
rated from their ashes into constitutional States ?
We have nothing to fear but from the timidity of
our rulers and our moneyocracy, some of whom
would sacrifice at the, shrine of Mammon the
liberties of the world, even of their native land,
provided they could retain their own vile pelf
without diminution or reduction.

COURT CIRCULAR.

BALMORAL, SEPT. 26

Her Majesty and his Royal Highness Prince Albert
attended divine service yesterday in the parish church
of Crathie. The service was performed by the Rev. Dr.
Lee, of Greyfriars, Edinburgh.
Her Majesty and his Royal Highness dined at Aber-
geldie in the evening with her Royal Highness the
Duchess of Kent.

SEPT. 27.

The woods of Balmoral were yesterday driven for
deer. The shooting party consisted of his Royal High-
ness the Prince, Count Alexander Mensdorff, and Lieu-
tenant-Colonel the Hon. A. Gordon.

Her Majesty the Queen. the Prince of Wales, and
Prince Alfred were present during the drive.
The Royal dinner party in the evening, in addition to
the Royal suite, consisted of her Royal Highness the
Duchess of Kent, Count Alexander Mensdorff, the Hon.
Mrs. Gordon, and Sir George and Lady Couper.

Major-General Sir Richard Doherty had an interview
with the Duke of Newcastle yesterday. The Bishop of
London had also an interview with his Grace at the
Colonial-office.

Viscount Palmerston arrived in town last night from
Carlisle.

NEWMARKET RACES.

(THIS DAY.)

(BY ELECTRIC TELEGRAPH.)
SWEEPSTAKES, 5 SO VS.

Coleraine
Sabra ....

TOWN PLATE.

Nutpecker

Three ran.
QUEEN'S PLATE.

Ilex
Four ran.
FOURTIVRIENNIAL STAKES.
Nabob

Three ran.

MATCH, 100/.—Nathan beat Little Gerard easily.
LATEST BETTING.
CESAREWITCH.

.. 1

4to 1 agst King Pepin (taken—in great force)
1000 to 60 on the field, bar one.

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 1,000 American
were taken for export and on speculation. The
market was flat and closed heavily, with prices of
American and Surat id. per lb. lower. In Ameri-
can under sd. the decline is still greater. The
sales comprised 3,500 American, 200 Pernam and
Maranham at Rd. to Rd., 200 Bahia at 6id. to
6gd., 300 Egyptian at 6.0. to 6d., 500 Surat at
3d. to 4d., and 40 Sea Island at is. Bd. to 3s. per
lb. Railway Shares were rather firmer.

This morning there has been a delivery of let-
ters from Australia to as late a date as the 3d or
4th of July, by the ships noticed yesterday. The
greatest, anxiety prevails in circles where the
whole facts of the case are not well understood,
concerning the result of the enormous shipments of
goods not only already arrived, but known to be
on the way, and which were leaving up to the close
of last week. Upon looking over the exports, we
find that their amount was excessive until within a
few days, but that there is now greater caution and
more difficulty in getting freights. The losses will
fall chiefly, we apprehend, not upon the regular Aus-
tralian merchants, who, having made good profits
at first, have been acting very cautiously since, but
upon a large number of private individuals, not in
trade, who have been anxious to have a "little
spec," and have sent out almost anything they
fancied might suit. In the same way, a great
number of wholesale dealers and manufacturers
have acted as merchants, and shipped freely.
Among them it is that the pressure, if any, will be
felt; but no one can doubt that the Australian trade,
on the whole, had yielded enormous profits, and
that it is high time, in the interest of the colonies,
that a fall in prices should occur.

At the meeting of the South Sea Stock proprie-
tors, held this day, it was stated that the balance
of the Bond Debt remained at 4,5001. A long and
interesting discussion took place in respect to the
payment of those who had agreed to have money
for their stock ; but it appeared, from the state-
ment of the Chairman, that they, as trustees, could
not pay back the money without an express Act of
Parliament for that purpose. It was considered
by many present that such an act ought to be pro-
cured without delay. A Committee of Bye-laws
was chosen for the ensuing year.
The English Stocks have been buoyant, and
there is a good deal of buying back. More favour-
able accounts are stated to have been received
from Constantinople, where the peace party were
getting greater influence. Consols opened at
91/ to 92, and have since risen to 93k- to I.
Already money stock is said to be scarcer—
a strange assertion after the recent assertions
of and abundant supply. But the truth
is that no one can ascertain in periods of excite-
ment how matters exactly stand. Exchequer Bills
have been done at Bs. to 155., and India Bonds at
3s. to 10s. prem. India Stock has been firm at 243.
The Foreign Stock Market has been more elastic.
Mexican Bonds have been 23 to 23,1, and Peruvian
71 to 72. Equador is steady at 4i. Brazilian old
Bonds have been worth 100. Portuguese 4 per
Cents. are 412 Russian 5 per Cents. have been
done as high as 1144, after opening at 111. Dutch
24 per Cents. are 62 to 622.
In the Railway Market this is settling day, and
prices have all advanced in consequence of the rise
in the funds. Caledonian have advanced 1/. to 21.,
Great Western 10s., North-Western 1/. to 21., Mid-
land Norfolk 11., York and Berwick 4, and York
and North Midland 1/. French Shares are better
likewise.

The Gold Mines have been very quiet, and the
Land Companies' firm. The Australian Banks are
fiat.

BANK OF ENGLAND.

Another alteration has been made by the Direc-
tors of the Bank of England at their meeting this
day, in the minimum rate of discount, although
loans upon stock are obtainable at a lower rate than
the Bank has charged. The charge is now 5 per
cent.

This sudden fall is attributable to the advance in
the Bank rate.

BRITISH FUNDS THIS DAY.
(From th,e 02,icial List.)

Business done.
3 per Cent. Consols Annuities' 92 1 11 31 4 2
India Stock
......... 243
India Bonds, £lOOO . . lO 3
Ditto, under £lOOO 4 ,
Bank Stock for Account 216
Consols for Account 9li 314 2111 /
Exchequer Bills, id.
£IOOO
£5OO l5 8 10 13 die
Ditto Small
PRICE OF FOREIGN FUNDS THIS DAY.
E O
Brazilian Bonds, 5 per Cent TITRE
100 'CLOCK.
Danish Bonds, 1825, 5 per Cent
Eqnador Bonds
Grenada Bonds, Deferred
Mexican 3 per Cent.
Ditto Account
Peruvian Bonds, 4k per Cent. 7l 3
Ditto for the Account 72
Portuguese Bonds, 5 per Cent., Con. 1841
Ditto 4 per Cent.
Ditto for the Account 4li
Russian Bonds, 1822, 5 per Cent. £St lll 14k 12/
Ditto 44 per Cent
Spanish New Deferred, 3 per Cent. 221

Dividends on the above payable in London.
Dutch Exchange, 2i per Cent. 12 Guil 62i 2
Dutch 4 per Cent. Certificates
THREE O'CLOCK.
.... 924 1
924 1

Consols
Ditto October Account ,

MARKET INTELLIGENCE---(THIS DAY.)

GENERAL AVERAGE PRICES OF BRITISH CORN
For the Week ended Sept. 29, 1853, made up from the Returns of the
Inspectors in the different Cities and Towns in England and Wale
per Imperial Quarter.
WEEAT. I BARLEY. I OATS. I BYE. I BEANO. I PEAS.
56, 9a 35s 91 I 20s 61 35s 7d I 41s 91 39s 8d
THE SIX WEEKS' AVERAGE.

WHEAT. I HARM. I OATS. I RYE. I BEANS. I PEAS.
53s Od 31s 10d 21s Gd 34s 5d 41s 6d 37s 10d

DUTIES ON FOREIGN CORN.
WHEAT. I BARLEY. I OATS. RYE. } BEANS. 1 PEAS.
Is Od Is Od Is Od is Od is Od is Od

QUANTITIES OF GRAIN SOLD LAST WEEK.
Wheat, 1)4,461 ; Barley, 12,C42; Oats, 10,666; Rye, 548 ; Beans
1,651; Peas, 703 quarters.

THE CHANCELLOR OF THE EXCHEQUER

IN THE NORTH.

(From, the Inverness Advertiser of Tuesday.)

MR. GLADSTONE AT DINGWALL.

The Chancellor of the Exchequer was presented with
the freedom of this ancient burgh to-day.
The right hon. gentleman quitted Dunrobin Cast'e
yesterday, passing the night at Tarbat House—the seat
of the Marquis of Stafford—and arriving in Dingwall at
half-past one o'clock. There he drove to the residence of
his relative, Mrs. Chisholm, and a few minutes after-
wards signified that he was ready to receive the Magis-
trates and Council. It happened, unfortunately, that
the Provost, Sir James Matheson, Bart., was detained
at Lews Castle ; but Bailie Macdonald and the other
members, accompanied by Sheriff Cameron, the Rev.
Mr. Sutherland, and several other gentlemen, proceeded
thither. They met a most cordial reception from the
right hon. gentleman, with whom was Mrs. Gladstone
and several other ladies.

Bailie MACDONALD briefly expressed the gratification
with which they welcomed him to the place, and ex-
plained the resolution to which the Council had come.
Mr. GRIGOR presented the burgess ticket, w hich bore
to be given in testimony of the high respect and estima-
tion entertained by the Council for him " as the sup-
porter of liberal economical principles, and as one of the
most enlightened statesmen and financiers who has
ever taken part in the public affairs of this great empire;"
and conferred upon him in the usual form the " power
to use and exercise all the privileges and immunities"
belonging to an honorary burgess.
Mr. GLADSTONE then spoke as follows : " Gentle-
men, I accept with the liveliest pleasure, and with strong
sentiments of gratitude both the burgess ticket which you
have been pleased to confer upon me, and also the address
with which you have been good enough to accompany it.
If, as you have said, you think this occasion of my visit to
Dingwall one of interest to you, much more so is it an

occasion of interest to myself. My occupations have
been of such a nature as not to allow me to visit this
part of the country so frequently as I could have wished.

The time that has elapsed since I last had the honour of
acquainting myself with Dingwall is no less than 37
years. I have brought with me now my son, who is
much farther advanced in boyhood than I was then.
The period I have mentioned is a large part of human
life, it comprises one full generation, and most of those
whom I now address could, if I mistake not, only
have been children when I was last here. I have
watched with the greatest interest, as it was imposSible I
could not but watch, the many changes which have been
effected in this part of the country since that period. It
has pleased Providence to impress this beautiful dis-
trict with signs and tokens on the physical conformation
of the country which render it easy to retain in the
memory its highly interesting features. And, so far as
the surface of the land is concerned, I have witnessed
with delighted surprise how the diligence, prudence,
energy, and enterprise of Scotsmen have been continually
engaged in making the wilderness to blossom as the rose.
I do not mean to say that these effects are peculiar to
this district ; but I am persuaded that in no part of the
country has the progress of improvement been more
rapid. The town of Dingwall itself has undergone an
entire transformation since I knew it. The houses
which at that time were conspicuous for their good-
ness have now been thrown into the shade, and every-
where we witness delightful specimens of that ac-
tivity and progress which now characterises every
part of the country. I think you are aware that
those who are connected either by blood or
recollection with the Highlands of Scotland,
do not easily lose their interest in the population, nor their
attachment to the soil. For me, the connection of my
family with Dingwall must ever be a source of the ten-
derest and most endearing association, because she to
whom I owe my birth was not only a native herself, but
although removed far away for scores of years, continued
to cherish an attachment towards it in a degree not sur-
passed by any of its inhabitants. On every personal and
domestic ground therefore I cannot but feel deeply grate-
ful for this tribute of your regard. While saying this,
I am bound to mention likewise, that I cannot criti-
cally examine the opinion you have been pleased to
pronounce upon my public conduct. I ought not,
however, to omit, mentioning my admiration of the
tone and spirit in which your address is conceived. In
it you express a just and praiseworthy hope that I
and the Government of which I am a member, " may
long continue to eschew party warfare, promote safe
and progressive reform, and carry out in all the institu-
tions of the state thorough and needful amelioration."
Gentlemen, I do feel and believe, and it is a source of
no small satisfaction to myself, that the present Govern-
ment is distinguished more than many which preceded
it by coming less in contact with mere party organisa-
tion, and being less pledged to the purposes of party
warfare. It is composed, as you know, for the most
part, of men having great experience in public ser-
vice. This is my twenty-first year of public life, and
yet I am, certainly not its youngest member, but
still young, compared with those veteran statesmen
who occupy the chief places in the councils of her
Majesty. They are united by an honourable bond ;
and I may take it upon me to say that their objects
and wishes are no other than you have expressed.
I spoke of those changes on the face of the coun-
try which are palpable to the eye, but other changes,
also, have taken place, during the lapse of those event-
ful years to which I have referred—changes involving
a greater amount of legislative effort after improvement,
and comprising larger and more beneficial results than
have ever been gathered together during any period of
the same length in the history of our country. Looking
to the course which legislation has taken—setting minor
objects aside—allowing for that freedom of opinion
which, thank God, prevails in this country—and for the
differences with which that freedom must be attended,
I think we must all feel that the institutions of the
country have been working well—that they have been
working for the benefit of the mass of the commu-
nity. The steps taken may by some be deemed too
slow or too short ; but, on the whole, they have been
in what is called the right direction—the character of
the policy which the country has pursued has been
of a nature which will honourably distinguish her his-
tory, and which marks her state and condition in a
manner the most favourable as compared with those of
other nations. When Lord Aberdeen took office he de-
clared it to be his special mission—not of course, putting
other objects aside—to defend, complete, and seal that
great work of commercial reform the extension of which
has been the main characteristic of the last ten years. I
hope you think him faithful to his pledge. At this par-
ticular moment, when it is pleasing Providence to press
on other nations something like a scarcity of the fruits
of the earth, I hope there are none among those whom
I address, who do not feel profoundly thankful for
the adoption of that wise policy, by which we have
removed every trammel and restraint on the supply
of that article upon which- our population are depen-
dent for subsistence. It is the lot of man to labour
—to earn his bread by labour ; but it was a sad
and miserable delusion, when, in addition to this pe-
nalty laid upon him in the wise counsel of God, we
undertook to interfere and render scarce by artificial
laws the bread upon which he is to subsist. I really
must say that all who took a part in the beneficial
work of altering those laws ought to feel thankful to the
Almighty for being permitted to share in carrying through
measures so beneficial in their tendency ; so full of bene-
volence towards the masses of the community ; and—if
I must add another motive—so calculated as that legis-
lation has been, and has shown itself to be, to strengthen
the attachment of the people to the institutions of the
country, and to confirm alike their sentiments of sever-,
ence for law, their loyalty to the Throne, and their ap-
preciation of the blessings they enjoy from the constitution
under which they live. There never was a more signal
example of the advantages to be derived from the adop-
tion of wise and well-considered improvement than that
exhibited by this country. These must speak to the
mind of every public man, and recommend a pesever-
ance in that course which experience has shown to be
fraught with so much benefit. And, if other encou-
ragements be needed, they are to be derived while tra-
velling through the land from meetings such as this—
where intelligent men, chosen to represent the wants,
wishes, and interests of particular localities, come for-
ward to receive us with expressions of decided approval
and kindly overlook our many deficiencies. I trust the
effect of these testimonies will be to inspire us with a
determination to devote ourselves, so long as we remain
the servants of the Crown, with at least singleness of
purpose, and without regard to party objects, to the
promotion of the public welfare. I beg again most sin-
cerely and cordially to express my gratitude for the hon-
our you have have done me, and to express the satisfac-
tion with which I accept the freedom of this burgh which
it has been your pleasure to confer upon me, and have
listened to the wise, sound, and judicious address with
which it was accompanied.
Wine was then served round to the company—Mr.
Gladstone drinking to the prosperity of the burgh. The
ceremony then ended, and the assembly separated.

long experience of public life, who may have been
known in other times and under other circum-
stances by varying party designations, but who, when a
crisis arrived in the history of the country on the great
question of commercial legislation, cast away every per-
sonal consideration, forgot every personal distinction,
and asked themselves alone in what manner can we best
serve the Crown and the country ? (Cheers.) With
these wise and eminent men, united on that ground
and for such an object, it has been my happy lot to be
associated. I have derived profit from their profound
experience, I have shared the honours awarded to their
established character, and by their advice and support
I have been enabled—if there be any benefit to be drawn
from the financial labours of last session—to compass
what could not otherwise have been attained. (Cheers.)
At any rate, and to whatever cause I may be indebted for
the tribute, I receive it with delight, and my satisfaction
is enhanced by the manner in which it has been conveyed.
I am much gratified by the assurance you have given me
as to the manner in which the proposal was received by
the Town Council, and I am glad to see by this crowded
hall that their sentiments are shared in and-confirmed
by the community— that this is not an affair of a party
or a class, but has its origin in a spontaneous and gene-
ral sentiment pervading the mass of the people. It was
not for any mere party purpose that Lord Aberdeen
accepted the post which he now holds, or that Lord
John Russell—who himself had held the office of Prime
Minister with honour and distinction—consented to join
him ; and I flatter myself that their views for the pro-
motion of the general welfare will meet a yet wider ap-
preciation, successful though they have been already in
securing a large measure of support from the repre-
sentatives of the people in Parliament—a support
ratified by such manifestations on the part of the
people themselves as that of which I have now the
honour to be the object. (Cheers.) Allusion is made
to two principal subjects in your address—the two
subjects which perhaps press most urgently on public
notice at the present moment—the commercial legisla-
ture, which will for ever render memorable the last ten
years, and a reference to foreign politics and govern-
ments. With regard to the subject of commercial legis-
lation, I have already said that I stand here to-day
reaping where others have sown. I had indeed the
honour to be associated with the late Sir Robert Peel in
the earlier stages by which the principles of that legisla-
tion which is now more fully recognised were introduced ;
and to my dying day it will be a source of satisfaction to
me that, from the formation of his government onwards,
I was honoured to bear, if an humble, still a laborious
part, in giving effect to those improvements and
alterations of our commercial and fiscal laws which
have shed upon the country richer and more
numerous blessings than even the anticipations of
the most sanguine dared have looked for. (Cheers.)
During five or six years past we have been congratu-
lating ourselves on the enjoyment of them amid cheap-
ness and abundance, though we may have felt that
a time would come when, from a pressure upon tl •
means of subsistence, the people would have less facPity
in obtaining access to them. And how marked is the
testimony to the wisdom of recent legislation in the
spirit which now prevails ! Go back to other times and
we find that when corn was dear the natural anxiety and
impatience of the people vented itself in violations of
law, in riot, and in bloodshed ; and even in other coun-
tries this continues still to be the case. Only afe w days
ago I read of the governors of two Italian towns losing
their lives as a sacrifice to the impatience of the popula-
tion arising from such a cause. Thus it ever has been
where man steps in to correct Providential arrangements,
and where the pressure of scarcity is aggravated by
unwise laws. But see the contrast here ! Not in
this quarter, but in other quarters of the country,
there is a deficient harvest, and the demand for
corn to France has affected our markets ' • but
not through all England or Scotland is there heard
a murmur of impatience or discontent, for the peo-
ple rest satisfied that if there be a dispensation of
scarcity it comes from that Providence'whose it is to dis-
pense the measures both of abundance and want, they
know that human legislation has done all that it can to
effect free scope to the energy and industry of man, and
hence there is everywhere that tranquillity, content-
ment, and self-reliance which we should most desire to
prevail. (Cheers.) Your Provost has said that we have
not met here to celebrate a party triumph. There was
a time when the question of protective duties was made
one of party struggle and conflict. There was a time,
even after the victory had been achieved, when a large
party adopted " Protection" as their motto and in-
scribed it on their banners. But those times are gone
by, the force of truth has won its way, and I scarcely
believe that after the evidence which the lapse of
time has accumulated, there exists any longer a
section of the community who, if they had the power,
would wish to step back, to alter, or modify a
system of legislation so beneficial. (Cheers.) What
was once but an opinion of philosophers in their
closets, spread from one class to another, occupied the
minds of statesmen, obtained the voice of Parliament,
took the force of law, is now the fixed policy of England,
and reigns enthroned in the sanction and heart of the
country. (Loud cheers.) And let me add the expres-
sion of an anticipatory hope that the end of its triumphs
has not yet been reached. The example of England is
of mighty force. Her example has had much to do in
persuading the other nations of Europe that in a re-
strictive commercial code there was some magical secret
of national wealth and prosperity. But the delusion
once rejected by us it will not be long maintained by
them ; the emphatic testimony to the advantages of free
commerce which the triumphant results of a full and
unsparing application of its principles has yielded here,
will work its way among the intelligent people of the
continent, producing a similar development of plenty
and blessing among them ; mutual intercourse will be
advanced, and the benefits which come in the train of
increased communication and augmented wealth will
thus be multiplied ; great social and moral aims which
we desire to see promoted will be helped onwards, the
tendency to international strife and war will be re-
pressed • and if we do not thus realise all the blessings
which Christianity promises to mankind, many of these
evils which must seriously hinder their advance will be
taken out of the way. (Loud cheers.) Your address also
adverts to my humble efforts in behalf of those whom I
believe to be oppressed in another country. It must be
painful to us, natives of Great Britain—citizens of a
country where the principles of liberty and obedience to
law are both held in deserved veneration—of a country
where the most extensive changes are brought about by
legal and rational means—it must be most painful
for us to look abroad over the Continent and see how
little progress the nations of Europe have made in the
path of temperate and rational freedom. There is one
year which I fear must be marked as very disas-
trous in their annals—l mean the revolutionary year
of 1848—for while certainly there was much which
deserved to be swept away, the effect was to provoke a
terrible reaction—to diminish the hope of rational free-
dom—to exasperate the spirit of despotism where it ex-
isted—to develope extreme opinions—and to diminish
the prospect of gradual and temperate advance to that
system of constitutional government—the results of
which we so happily enjoy. In the country where it
was my fortune to reside at the period to which allusion
has been made, I perceived that great sufferings were
inflicted on large numbers in consequence of this re-
actionary spirit—a spirit, the natural effect of whose
manifestations is certainly to provoke popular resist-
ance, and to engender many terrible evils. Ido en-
tertain an earnest hope for the improvement of Italy ;
and, so far as the present Government is concerned,
I am sure it will be their endeavour to promote that
object----not in the spirit of reckless propagandism,
which would raise up the national spirit against us, but
by such a wise and temperate policy as will secure our
moral influence. At present we cannot speak with
satisfaction of foreign politics. You well know that
causes are operative which threaten the peace of Eu-
rope. I trust you also know, and are well persuaded,
that the most anxious efforts of the British Govern-
ment have been directed towards the maintenance of
general peace, and the protection of those who want
strength to protect themselves. (Cheers.) No assurance
from me to this effect is wanted. for the temper and at-
titude of the'peop!e h tve'sho•A it how thoughtfully they
confide in their rulers, and how anxious they are for the
maintenance of peace combined with honour. The time
is happily past when an ignorant eagerness for war
could take possession of masses of the community, we do
not fail to profit by the lesssons of history, though after
40 years of peace, when most of us have grown up with-
out any actual experience of the evils of a state of war,
we may be apt to forget their number and magnitude.
The heavy burdens which war entails on posterity is
the least of its evils ; it is the effusion of human blood,
the dissolution of domestic ties, the letting loose of
a moral scourge over a country which ought to be
thought of, and which impose an absolute obligation on
Governments and statesmen to avoid it at the cost of
any sacrifice short of duty and honour. This isthe prin-
ciple which has guided the Government throughout the
negotiation of the last few months ; and by this rule
they would still act, knowing that it was with individuals
as with nations—that a war might be :very popular at
its commencement which would be very hateful at its
close, just as there were few people who entered on a
quarrel otherwise than brave and self-reliant, but who
might not like it much ere all was over. Mr. Glad-
stone, then, rernarkiug that the shades of evening
which were closing round them, conveyed a warning to
be brief, proceeded to refer to the future—alluding
especially to the great change which has of late come over
the spirit and temper of parties. At the sacrifice of much
personal feeling, in violation of the strict terms of poli-
tical consistency, many useful measures had been carried
through, with the farther effect of completely disorgan-
ising old party connections. The House of Commons was
not now divided into two compact forces opposing each
other on every trivial point ; the broad contrasts of party
had been obliterated ; and members of the legislature ex-
ercised more their own reason, and were a,etuated to a
greater extent by their honest convictions. This in itself
was real progress ; it was a result which augured well for
the triumph of reason and justice. It was aconsequence

of this state of matters th-a.t the present administration

had received so large an amount of what is termed
"independent support." From its character and ex-
perience, it was peculiarly bound to go on concili-
ating favour of that kind ; and the best way to ac-
complish such an object was neither, on the one hand
to hug past abuses under the pretence of maintaining
our institutions; nor on the other, recklessly to urge a
demand at variance with the essential characteristics of

our institutions. This also was the true way to obtain
the confidence and support of the people at large whom
it was alike vain and undesirable to attempt to govern
on the principle of a blind superstition. lie thought
he might safely promise this would be the course the
Government would pursue ; for himself, he would yield
obedience to no other principle. The right hon. gentle-
man concluded by repeating his thanks for the compli-
ment bestowed on him. At the close he was raptur-
ously applauded ; and after three cheers had been given
for him, with the addition of one for the Provost, the
meeting separated shortly after six o'clock,

LATEST FOREIGN NEWS.

FRANCE.

-
It is announced that Prince Napoleon is indis-
posed. It is said that the Prince was unwell on
leaving Paris for the Camp of Helfaut. Daring the
review on Sunday ho suffered severely from the
heavy rain, and on his return to Paris he was at-
tacked with inflammatory fever. As yet, however,
his position causes no uneasiness to his friends.
The Brest fleet was unable to arrive at Dunkirk
during the Emperor's visit to that port in conse-
quence of a severe gale of wind, which forced Ad-
miral Charner to take shelter in the Downs, where
the ships rode out the storm without damage. It
was expected that the Admial would be able to
manoeuvre his squadron within sight of Boulogne
previous to the Emperor's departure for Paris.
The Duke and Duchess de Alba, in leaving PO'
for Madrid, have taken with them magnificent pre-
sents from the Empress for her mother on the oc-
casion of her birth-day.
Lord Brougham has arrived at the Hotel
Dden-
rice.

The Archbishop of Paris has returned to Nis
from his estate of Belle Eau, where he has beenrfr
siding for some time.
A decree of the Emperor of the 20th inst. cells
out 40,000 men of the 80,000 of the class of 1852
7,188 for the navy, and 38,812 for the army. o's
is nothing more than what is done every year, in
order to fill up the vacancies caused by those whnite
term of service is about to expire. The 4031-7
men are to join their respective corps Isle
15th from
15th to the 20th Oct. next.
The octroi receipts of Paris (says the idoniteur)
amounted on the 16th of September to 28,838,500 f.
If they were to continue in the same proportion
during the whole year, they would reach the stun
of 40,713,2001., that is, would exceed by upwards
of 4 millions the produce estimated in the budget
for the year.
The Momiteur publishes Imperial decrees, pro'
mulgating the convention between France and the
Electorate of Hesse, for the reciprocal protection ef,
the rights of property in literature and works or
art, and the postal convention concluded between
France and the Kingdom of the Two Sicilies. The
latter is of great length, entering into very full
details of the rates of postage, modes of conveyance,i
and other points for the amelioration of the postal
intercours between the two States.

The general account of the commerce of France
with her colonies and foreign countries during the
last year, which has just been published by the Ad-
ministrations of the Customs, contains some infor-
mation which will be read with interest by those
persons who did not pay particular attention to
the monthly returns.
The French Government has requested that of
Austria to furnish it with all the documents rela-
tive to the mode of supply of provisions at Vienna.
The Bourse was more than ordinarily agitated
yesterday, and there were numerous fluctuations,
according as favourable or unfavourable reports pre-
vailed. The 3 per Cents. opened at 75f., and rose to
75f. 15c. on a report that the Northern Powers
had made no objection to the passage of a -portion
of the English and French fleets through the Dar"
danelles. A species of panic subsequently arose, in
consequence of various alarming reports, among
which the most serious was that M. de Kisseleff,
the Russian Minister in Paris, had demanded hie
passports. The Three per Cents. then fell to 741.
10c., at which they closed for the end of the
month ; the Four-and-a-Half per Cents. closed at
100 f. 10c. ; Orleans Railway shares, 1,195 f. ;
Rouen, 1,020 f. ; Havre, 500 f. ; Great Northern,
822 f. 50c. ; Paris and Strasburg, 915 f. ; Paris and
Lyons, 880 f. ; Lyons to the Mediterranean, 730 f. ;
Western of France, 700 f. ; Bordeaux and Cette
592 f. 50c. ; Great Central, 510 f. ; Lyons ana
Geneva, 505 f. ; Shares of the Bank of Credit
Mobilier, 717 f. 50c.