The Sun.
London, England, 1853-11-01 00:00:00

THE SUN. LONDON, TUESDAY EVENING, NOVEMBER 1. 1853.

will insist on a satisfactory response to the inter-
rogatory—What is to be the nature and character
of that peace ? It must be an honourable peace,
such as an independent Power capable of defend-
ing its own interests would be justified in accept-
ing without any sacrifice to its dignity—else we
have high authority for declaring that it would
be worse than useless, being practically neither
more nor less than " a hollow and precarious
truce"—a truce liable to be broken at the will
of an unscrupulous party at any moment that
seemed to afford a favourable opportunity for in-
vasion or aggression. It must promise to be
enduring, not likely to occasion fresh complica-
tions and new dissensions, else it were better
that the storm should at once be encountered,
that the thunderbolt should be launched when
every preparation had been made for its re-
ception If war, sooner or later be inevitable,
far better that it should come at once, than
when the enthusiasm of the troops had expired,
and when the exhausted resources of the injured
nation could no longer provide such efficient
I forces for defence and for vengeance.

We doubt not that Lord STRATFORD has fully
and maturely considered these various points.
He is too well aware of the intense excitement
by which the entire country is animated on
the subject to call down upon his own head
the torrents of indignation that have burst,
are bursting, and will burst over " the dear
and excellent " Minister of Russia in the
English Councils. He has on previous occa-
sions exhibited au honourable independence of
Imperial influences, and a thorough knowledge of
he designs of the Northern Despot. He cannot,
;herefore, be cajoled or hoodwinked—be induced
d) betray his country from treachery, or incapa-
He may be hampered by instructions from
tome, hut we cannot suppose that, whatever may
be the nature of these instructions, he would so
far disregard his own character as to make
so forcible an appeal to the SULTAN for
further procrastination, unless with a well-
founded expectation, if not an absolute cer-
tainty, of not only a speedy, but also of a satis-
factory and lasting arrangement. That such a
feeling is entertained on the Stock Exchange,
the continued rise of Consols, the easiness of the
money market, and ample supply for all legitimate
demands, sufficiently establish.

city.

It is more than hinted that the renewed inter-
ference of the English Ambassador has been occa-
sioned by an intimation on the part of Russia
that the CZAR was now prepared to sign an
explanatory Note, in direct opposition to that
which Count NESSELRODR, so unfortunately for his
Imperial Master, published to the world—that
NICHOLAS will now give explanations as to the
misunderstood effect and operation of the Note
prepared at Vienna, which will render unnecessary
and uncalled-for the modifications required by the
Porte ; and also that the SULTAN is willing to
accept such an explanation guaranteed by th•
other Powers. This is not unlikely, but for the
present we shall say nothing as to the manner of
the arrangement, contented if, on full investiga-
tion, it shall prove satisfactory, and calculated to
to achieve the great object—the lasting preserva-
tion of peace throughout the entire world.

The common complaint is that doctors differ ;
we may hope for something certain, therefore,
when doctors of different schools agree. Such is
the case with two who have just given their opi-
nions on the Preston strikes ; gentlemen of no
less reputation than Mr. RICHARD COBDEN and
Mr. Morrolcrox MILNES. Both found themselves
speakers at Mechanics' Institutes, and both affirmed
that the prime cause of the disorder is ignorance.
Both agree that if men, and masters too, had molts
knowledge and more intelligence, this rude and
costly mode of settling the case of wages could
never be adopted. Thousands and tens of thou-
sands of pounds would not be thrown away weekly,
families made wretched, and the permanence of
our manufacturing position endangered, if it
were but fully known to the sufferers that wages
do not, as at first sight they appear to do, de-
pend either upon the will of the master who re-
fuses an advance, or upon the self-denying firm-
ness of the man who demands it. We welcome,
as we have hinted that we should do, the entry of
the great Peace orator upon this field of arbitra.
tion. He declined indeed to discuss at Barnsley
" the merits of the question ;" details of prices
wefe, of course, out of question at a meeting of a
mechanics' institute ; but hitherto the award is of
a very pacifying nature. To each party is awarded
the belief that it does right, to each the acknow-
ledgment of being actually right—one in obtain-
ing all it can for its capital, the other for its
labour ; but to each is awarded also the most
bearable of censures—that of living in ignorance.
Both need the same perception, education, and
intelligence.

Mr. COBDEN instances a circumstance in corrobo-
ration of his opinion, which has often struck us
also—the absence of strikes in the United States.
There certainly seems no other reason than higher
operative intelligence for this fact. Such a thing
as a whole town or trade striking work, and
sacrificing thousands a week to get a shilling or
two a week more is quite unknown. Yet there can
be no essentially diverse conditions there to prevent
it. There, as well as here, there are very large capital-
ists and employers of labour, and, of course, very
large bodies of labourers, who would all like a shilling
a week more if they could get it, and who would
certainly strike to get it, if they did not know
that they should lose instead of gain by that pro-
cess. True, wages are generally higher in Ame-
rica, and the price of food lower than in England.
Free Trade,
in the price however, has lessened the difference
things the Amoferca Pironvisions, while for most other
workman has to pay a pro-
tection duty of twenty per cent. at least. But if
wages were ever so high, no workman (herein
like all other men) would think them high
enough if he could get a shilling more.
There can then be but one conclusion, and that
is, that the American operative surpasses the Eng-
lish operative in intelligence. He has learned to
raise his wages up to the highest point without
resorting to threats, or at least to what will
lesson his master's fund for future employment,
Allimsefrairacainly.master and his
andiwbeegeagnarehenimeesievlef aannd
men keeping up an intelligent discussion for
weeks, each, all the time, earning their accus-
tomed wages and profits ; and this intelligent
discussion will be—not on the prices of pro-
visions, and not on the profits or losses of the
masters. Intelligent men will understand their
business better than this; they will know their
masters must occasionally pay high wages
when profits are low, and vice versa;
such are, sometimes, the phases of business,
for
though not, indeed, the most common ones. These
men of intelligence, therefore, will confine their
discussions to one point—the state of the labour
market itself. If it be seen that new factories are
opening and advertising for hands, which they can
with difficulty find, or not at all, they will know
at once that labour is in demand ; and that, even if
profits be not so high as they ought to be, yet more
must be given for labour, or the hands will leave, and
no profit at all be gained. If, on the other hand,
workmen are unemployed, though profits should be
ever
high, masters will certainly not give
higher so
gher wages, since others would step in to fill
the places of those who left. If the dupes of Mr.
GEORGE COWELL could but be taught these ele-
mentary truths, so well known to every educated
wellman kconnevwnerstaentthweiitrhtrtatesatqlanuetslt.eionfellheewr-ew,
earnd kmesno
too, his reign and their delusions and sufferings
would come to a speedy end. The workmen
would unanimously return to work and earn
all they could. They would carefully notice which
departments of labour were overstocked, or the

contrary. They would regulate their demand for
wages by the supply of workmen, and would scout
the absurd nonsense of a universal rise of 10 per
cent. in every branch of employment, whether it
were well or ill-supplied with hands. Most
thoroughly do we pity the great mass of these
who suffer by these strikes, knowing that they are
the victims of delusion and ignorance. Strikes
themselves are, however, as Mr. COBDEN truly
observed, wonderfully altered. We hear nothing of
Military, Riots, and Bloodshed. We have advanced
from turbulence and broken heads to "enthusiastic
public meetings," and warm tempers only. Edu-
cation has done thus much. Let us hope it will
shortly accomplish a little more, and banish such
unsocial and mischievous expedients as strikes
altogether from our merry England.
Mr. COBDEN by no means confined himself to
the subject of strikes as an illustration of popular
ignorance. He dilated in his happiest vein—and
Mr. COBDEN is generally happy on his favourite
theme of Education—on the many evils of a
most obvious kind which knowledge would
terminate at once, and the security it would
afford us against being beaten in the great race
of manufacturing and mechanical competition.
But for ignorance our Sanitary Reformers would
have short work of it, since, if the poor knew the
physical consequences of filth, bad ventilation, &c.,
they would soon make themselves heard. Father
MATHEW and his fellow-lecturers on temperance
would find that the pleasures open to the educated
working man superseded the debasing though sti-
nolating dram ; the democratic politician would
see " the many" in a condition to be welcomed by
those who now fear their ignorance more than
their numbers ; the manufacturer would obtain
an ample supply of beautiful native designs for
his fabrics, and be spared the mortification
of dependence on foreigners for the most attrac-
tive part of his art ; and the mechanic would
no longer be indebted to America for the best
inventions in his line, for his fastest ships, and
his reaping machines ; England would soon come
up to France in taste, and would not dread a rival
to her hitherto undoubted manufacturing pre-
eminence in her American offspring. Whether,
however, the school system of America is the cause
of its better education, and whether, if it be, it
be possible to superinduce it upon our vast system
of Voluntary Education, is a question which we
cannot answer in the affirmative so easily as Mr.
COBDEN. We cordially sympathise with his aspira-
tions, but we are not Americans, and question
whether their plans would suit us.•

VISIT OF HER MAJESTY AND PRINCE ALBERT
TO THE CRYSTAL PALACE, SYDENHAM.-
( THIS DAY.)

Shortly before eleven o'clock this morning, her
Majesty, his Royal Highness Prince Albert, the Prince
of Wales, and the juvenile members of the Royal family,
accompanied by the King and Queen of the Belgians,
and attended by their suite, left Windsor Castle in a
special train on the South-Western Railway, en route
for Sydenham. Upon arriving at the new station
in the Wandsworth-road, the Royal party were
received by the railway officials, under a splendid
marquee, erected by Mr. Benjamin Edgrington, of
Duke-street, Southwark. Several Royal carriages
were then drawn up to the station, and the distinguished
visitors having entered them proceeded at once to
Sydenham, where her Majesty was received by Mr.
Laing, M.P., Sir J. Paxton, Mr. Grave, and the prin-
cipal directors of the company. It was the intention of
the royal party to spend several hours in the Exhibition.

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.

The Stock Exchange has been closed to-day,
owing to the taking of the half-yearly balance
at the Bank of England. There were a good
many brokers and speculators in attendance early
in the day, and owing to the news of the Turks
crossing at Widin, Consols were down to 93i
but are now 93i /. The Greek houses have pri-
vate telegraphic dispatches confirmatory of the

passage.

The sales of cotton at Liverpool yesterday were
estimated at 5,000 bales, of which 500 Surat were
taken for export. The market closed heavily, with
an increasing desire to sell. Prices of all kinds were
much the same. The sales comprised 3,000 Ame-
rican, 250 Pernam and Maranham at 63/4d. to 'al,
250 Bahia at 68d. 6/d., 200 Egyptian at 61d. to
ls., and 1,200 Surat at 24d. to 41-d. per lb. The
Railway Share Market was active at higher prices.
The following is from Messrs. Smith and Charles'
circular :

" The tallow market has again fluctuated very con-
siderably in the month of October. There can be no
doubt that the state of political affairs in the East has
been the chief cause of the sudden movements we have
had in the article. Early in the month the prospect of
a pacific solution of the Russia-Turkish question were
considered very remote, and the market suddenly ad-
vanced 2s. per cwt. No fresh news of an unfavourable
character arriving, and a decline took place of is.
by the 7th. By the 14th we had rallied 6d. to 9d.,
and on the 21st the highest prices of the month were
made, 595. 6d. having been given for January and
March delivery. The arrival of several, vessels from
Petersburg '(and the tallow given off in contracts from
them 2s. 2d. being left for sale) produced a depression in
the market, and a decline again occurred of is. to is. 6d.

per cwt.
" In reviewing the events of the month, the most im-
portant features, as affecting the ultimate value of
tallow, are undoubtedly the continued short supply of
homeproduction and the consequent demand for foreign
tallow. As respects the probable supply for next
spring, calculating upon only the same deliveries as
last year, upon a total shipment; safe arrival from
Petersburg, of 96m. casks, (i. e. d. 61m. to London ;
29m. to outports, and 6m. to foreigners,) with 4m. to
London from other places. We shall have from 30m. to
32m. casks on the Ist of Jan. 1854, against 47,282 in
1853 ; 64,636 in 1852 ; 52,159 in 1851 ; and as regards
the price of the article there are several elements, which
justify a high price next spring ; to the absence of

which may be materially ascribed the low prices of the
years 1851, 1852, and 1853 viz :—A small stock to com-
mence with, a home supply, small expectation from Aus-
tralia and South America. The repeal of thesoap tax and
the casualties to which we are still' exposed in relation to
the Eastern question. We still think, then, that prices
must be high, but we shall no doubt see great fluctua-
tions, from the operations in the article of parties who
do not act upon the prospect of supply and demand at
all, but upon the probabilities of peace or war.
" The advices from Petersburgh are to the 22d.
The prise had advanced to 152 rs., and there remained
unsold from 2m. and 3m. casks, shipped off :-1853,
94,045 ; 1852. 76,872 ; 1851, 101,073 ; 1850, 111,491.
80 freight to London ; 109 to Hull. We have had a very
dull market to-day. The political news of Satur-
day, confirmed to-day, that hostilities had been sus-
pended till the Ist of November, has brought for-
ward speculative sellers, and the tendency has been
downwards. Much as all parties desire that the events
in the East may meet with a specific solution, it is not
thought by the most experienced that the news just
received is of a nature to encourage sanguine hopes of
an immediate settlement of the question ; at the same
time, the majority look upon the matter in a different
light."

The following is from the Banker's Magazine of
November :

"Although financial affairs are in an unsettled state,
prospects have certainly improved within the last fort-
night. The close of September may certainly be consi-
dered to have witnessed, at least temporarily, the depth of
the late depression—the further advance in the Bank's rate
of discount having created its customary effect. The
demand for accommodation from that date, until the
close of the first week in October, was extremely se-
vere, and the position of the weekly Gazette returns
clearly indicated the extent of the pressure. Even
now the various heads of these accounts present
unsatisfactory features, particularly in reference
to the reserve of notes, and the amount of bills nego-
tiated ; but these, it is understood, will shortly assume
a more favourable appearance, the former being for the
moment in a great degree affected by the payment of
the dividends. The sales of Exchequer Bills, which have
lately been freely effected on behalf of the Government,
will also produce an alteration in the public deposits, and by
these arrangements the alarm created will be mitigated.
For the present, we scarcely think that the directors
will be compelled to take fresh restrictive measures ;
but much depends upon the required supplies of food,
the contingencies arising from war, and the state of the
exchanges. Gold is arriving in considerable quantities
from Australia, but the whole will not find its way to the
Bank, remittances being still made to the Continent,
while the demand for silver for India and China is on
the increase. The value of money in Lombard-street is
4 per cent. ' on call ;' 41 per cent. is paid for a fixed
period, extending over the 15th of January. The rates
for first-class paper range from sto 51 per cent. Con-
sols have fluctuated about 2 per cent. ; and for
several weeks so great has been the scarcity of stock,
that the money quotation has been in advance
of that for the account. There has, latterly, been a
better supply ; and the prices have therefore very nearly
approximated. Exchequer Bills, before the rate of in-
terest was advanced to 2d. per diem, were sold at 17s.
discount ; they subsequently recovered to 9s. premium,
but the sales since effected have again reduced them
nearly to par. A good deal of speculation exists as to
the means possessed by the Chancellor of the Exchequer
to meet the demands on him in January next. It is
stated that he has taken every necessary caution to
secure his position ; and that the late operations in the
Exchequer Bill market have been directed to that end."

MARKET NEWS-(THIS DAY.)

WORCESTER RACES.

(THIS DAY.)

(BY ELECTRIC TELEGRAPH.)
SWEEPSTAKES for Two-year-olds.

Indiana

Czarina

Castrea

Three ran.
The General and Melon have arrived.

CITY OF LONDON COMMISSION.

(THIS DAY.)

The commissioners appointed to inquire into the state
of the Corporation of the City of London, met for the
first time in public this morning. The commissioners
are—Mr. Labouchere, M.P., Sir J. Patteson, and Mr.
Cornwall Lewis. At a previous meeting which the
commissioners had held in private, the order of proceed-
ing was arranged, and this morning the commissioners
commenced receiving evidence.
Mr. James Ackland was under examination nearly
the whole of the sitting. He stated that he was secre-
tary to the City of London Municipal Reform Associa-
tion, which numbered something like 1,200 members.
The objects of the association, which was formed in July
last, were twofold—the first was to obtain for its mem-
bers, who were ratepayers of the City, the municipal
rights and privileges which are at present monopo-
lised by the freemen ; and secondly to defend
the members against any legal process that might
be instituted by the city authorities to compel
them to take up their freedom. The majority
of the members were small shopkeepers, who were un-
able to pay the freedom demands which the City autho-
rities made upon them, and the association had under-
taken to point out the abuses of the corporate system of
the city, in the hope that the exposure would
lead to a remedy for the evils that were complained
of. Having given the whole subject of Corpo-
rate Reform his best consideration Mr. Ackland,
at the request of the committee, proceeded to
state his views in detail, and at some length. He
said he was opposed to extending the municipality of
the City over the whole area of the metropolis, as laad
been suggested by a former commission, because he
looked upon the city as the capital, not of the country,
but of the commerce of the world. Any reform, therefore,
that was made in the existing system should preserve
that specially in the character of the city ; but while

he would not extend the municipality to the whole of

the metropolis, he yet thought the inhabitants of the
ward of Bridge Without, which was situated in South-
wark, ought to be admitted to the same rights and pri-
vileges as were enjoyed by the rate payers in the City
Proper on the north side of the Thames. With regard
to the general question of municipal reform, he
reminded the commission that, owing to the existing
system of monopoly which prevailed in the
city, Liverpool was rapidly becoming a far
more flourishing and important port than London ; but,
with fair play, and the adoption of the same free-trade
municipality which Liverpool enjoyed, he had no doubt
whatever that the port of London would soon recover its
lost ground.
Mr. Ackland, who was sworn at his own request,
was under examination all day.