The Sun.
London, England, 1853-11-24 00:00:00

Fin depth from 200 to 300 feet, and even a quarter of an
acre could be had, if required ; and this, be it remem-
tiered, in a vicinity where the owners are asking one
guinea a foot for their land.
A gentleman, who gave the name of Ely, here asked
the chairman whether he would permit him to address a
few sentences to the meeting.
The CHAIRMAN said it would afford him. the greatest
pleasure in doing so.
Mr. ELY having taken his place on the platform, pro-
ceeded, in a very humorous and original style, to address
the meeting, declaring himself to be an ex-Lanoashire
clodpole, an ex-anti-corn-law leaguer, and to be well
known to Joseph Hume. (Cheers.) His remarks ap-
plied chiefly to the difference of the system, of acreage
prevailing in Jersey-and in London.
Mr. RICH then moved a vote of thanks to the chair.
man. •

Capt. BISHOP-CULPEPER said he felt very great plea-
sure in seconding it.
Col. DICKSON then put it to the meeting, and declared
it carried enthusiastically.
The CHAIRMAN having briefly acknowledged the com-
pliu•,ent, the proceedings, which had been of the most
agreeable description, terminated.

REDTiCTION OF THE DUTY ON IRON

IN FRANCE.

(From the Timm.)
The Moniteur of yesterday contains a decree of
the French Emperor, reducing the duties on
wrought iron imported into France by the mari-
time zone about 10 per cent., and the duties on
cast iron by about 30 to 40 per cent., from the
former rate. The effect of this measure seems to
be to equalise the duties on foreign iron by reducing
them to the rate previously levied on Belgian
produce only ; and a similar measure has been
applied to coal, the duty having been lowered in
the restricted zone from sd. to 3d. per 100 kilos.
As far as it goes, this removal of a mischievous
differential duty, which limited the supply, in-
jured the revenue, and benefitted no one but a
small class of ironmasters, is creditable to the
Imperial Government ; and it ought to be well
understood in France that it has been adopted
solely from a view to the national interests
of that country, and not as the result of ne-
gotiation with any foreign Power. Our wonder
has long been much more excited by the per-
tinacity with which France has continued to set
an artificial and excessive price on raw materials
of primary necessity to the progress of mechanism
and civilisation, than by her declining to open her
ports to an important medium of exchange with
this country. But we are aware that public
opinion in France is so little formed on these sub-
jects that the Government has more difficulty in
carrying such a measure than in doing many
other things of a less creditable character. If it
were not that the huge population of this metro-
polis has submitted and still submits to pay a
large municipal duty on coal under the ob-
noxious form of an octroi, we should say that no
impost could be devised more intolerable to an
intelligent community, more onerous to manufac-
tures, more irksome to the comforts of the middle
classes, or more cruel to the necessities of the poor.
In the climate it is our fate to inhabit, and with the
pursuits and employments which constitute the chief
subsistence of this country and of the North ofFrance,
cheap fuel is one of the greatest blessings we can en-
joy ; and the duty of 5 francs a ton levied on sea
in the French ports acts as a restriction on all
the productive powers lost by that increase in the
price of the article. It will now be reduced to 3
francs, and we trust before long it will disappear
altogether. Strictly speaking, and in a narrower
view of the subject, this country has no interest in
supplying France with the raw material for those
works of industry and of art in which she is our
most brilliant competitor, and the demand for
British coal and iron abroad only tends to increase
the price of those commodities to the home con-
sumer. With the exception of the class of coal-
owners and ironmasters, the direct advantage of
this change is in favour of France, who obtains
what is essential to her manufactures and railroads
on easier terms. But the indirect advantage to
other nations largely compensates for this differ-
ence. We acquire a more extensive medium of
exchange with that country ; we unite by closer
ties the industry and the material welfare of two
great nations ; and we strengthen those common
interests which are independent of the vicissitudes
of mere political combinations.
Some recent measures have a tendency to show
on the part of the French Government a marked
improvement in the soundness of its views on
political economy. In the course of last summer
we had occasion to comment with severity on the
measures taken by the Government to interfere
with the trade in corn, and to limit the price of
bread, and we observed that such solecisms were
incredible in a country which had produced nearly
a century ago, and still retains in its political lite-
rature, M. de Turgot's admirable letter on the
corn trade. A few days ago we had the satisfac-
tion to publish an able paper from the Moniteur, in
which the State journalist exposed and repudiated
in the most formal manner the fallacy of State
interference to lower prices in times of scarcity,
and wound up a very sensible argument by quoting
that very paper by M. de Turgot to which
we had alluded. It appears, indeed, that all
the exertions made by France up to this time
have only secured one-third of the quantity
of corn required to make up her average con-
sumption, and the Government has fairly told
the country I hat it must look for relief in this
emergency to no other source than to the natural.
operations f trade. The reduction of the duties
on coal and iron is another proof that in the Coun-
cil of State, charged with the preparation of these
measures, and in the mind of Louis Napoleon him-
self, there is a disposition to relax the prohibitive
system of France ; and, as these inordinate duties
have been so long upheld by powerful class interests,
it is probable that no Government not exercising
absolute and irresponsible power could have pre-
vailed over the prejudices and influence enlisted in
their support. The price of corn in France is about
as high as it is in England, and the distress in many
of the rural districts is augmented by the failure of
the vintage, the destruction of vines by the preva-
lent disease, and the great rise in the value of wines
of all descriptions. In the South of France the
olive crop has not been favourable, and even the
produce of the silk-growers is below the average.
But work is abundant. a.ad cages are high ; for,
although it is not in the power of a Government to
avert the visitations of Providence, or to convert
scarcity into abundance, these evils are diminished
in proportion to the energy and industry with which
the population is enabled to meet them. For this
reason the removal or reduction of every species of
tax which is a burden on the productive power of
the nation is a seasonable relief, and, at a period of
high prices especially, it is most unadvisable to
permit the restrictions arising from natural causes
to be aggravated by restrictions imposed by man.
For the general welfare of all classes of the commu-
nity cheap iron and cheap fuel are two primary
conditions, for they enter more or less into every
branch of industry down to the ordinary wants of
domestic life ; and we trust that the success of this
limited experiment will induce the Govern-
ment French
to proceed with greater freedom and resolu-
tion
to relax the bonds which have hung so long
on the foreign trade of the country.

SOUTH SEA STOOK.-3luch dissatisfaction is expressed
at their present position by the holders of the 3,662,7841.
South Sea Stock which falls due on the sth of January,
and the amount of which cannot be distributed owing to
the directors having failed in the last session of Par
ment to obtain an act empowering them to do so.
The bill for the purpose was thrown out, in consequence
of a plan being included in it for converting the South
Sea Company into a trust company, and it is rightly
contended, that these objects should have been sought by
separate bills. According to an advertisement on Mon-
day last, however, it appears that the application to be
made next session is to be in a similar form, and, as
there is considerable danger that it will again encounter
a prolonged opposition from the legal profession, under
the fear that the creation of a trust company may tend
considerably to do away with litigation, complaints are
very naturally made that the rights of those proprietors
iisnhtruest in
have
tthheis
amountpart of
of
fhe their question,stonstock
paidand
twwohhiemfmeeerlealsnyointerest
soonw as possible, should be thus inconside-
rately
WHALEY BRIDGE RAILWAY.
sru tamperedxou w.
STOCKPORT, is tEhy.
—This contemplated new line has long been imperatively
called for by the wants of the
as populous districts through
communication in
ptrhae
eppresesn't day
ye
atssendceeproefciraatiilnwaglyy
which it is designed to
upon thevtahl
thinly
yo f
rty.
more serious evil in Even this is felt in com-
parativelybetw e e
na and
e operatives,
pßopu.dlous populated
. places, but it becomes a still
pWrehseanlety a district rife with mills, manufac-
tories,A direct line of communication
manufacturing town of Stockport
project rigeishinastenlodnedg btoeesnapaplydeisti.doTYchtuenz,
wholeand
athned
country the intended line will traverse is teeming with
interests and people which loudly demand the benefits of
railway transit. In undertakings of this kind there is
one great object to be kept in view, and that is, will it
prove a safe investment ? If this question can be satis-
factorily answered it is scarcely necessary to agitate any.
other, as the fact of its being payable proves the neces-
sity of the project. The next question for the public to
enquire is, the character of the parties about to carry
the work into operation ? Looking at the names at-
tached to the prospectus, we can say that the provisional
committee is composed of gentlemen of high standing,
large property, and unquestionable integrity. We con-
gratulate the public, not only upon the prospect of
increased facilities for their commercial pursuits, but on
account of the business-like and honourable men who
have stood forward to bring out the resources
ntainnad
aadnda
inle fraughtgidistrict by
wish tbe works may be commenced with as
with benefit to all.
an comfortsundertaokf t
twrcomentmhheeeansrocticinliyagl
, ittle delay as possible.