The Sun.
London, England, 1854-04-22 00:00:00

'assailant.

1.
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_ _

Turkey fighting thus valiantly against immense
'cxids—what part has -been taken all this While in
struggle by France and England ? What
pal t ? _ Why hitherto, literally and positiVely only
that of very noisy preparation. Hitherto the
world has heard enough 'of what the Western
Powers are going to do—but up to this moment
those Powers have virtually and actually done
nothing. They have not stricken ono blow with
the sword or made one thrust with the bayonet._
They have not taken one ,stronghold, defended a
solitary pass, or routed a single regiment. They
lave with admirable credit to themselves run
e gauntlerof a long series of banquets, reviews,
and ovations—but in spite of all these wonderful
doings they have not, even now, caught the first
glimpse of their antagonists, the Muscovite troops
ultder Prince G°II,TEQUAKOFFe
Happily, however may still console our-
s by glancin , we g over- the record of their con-
tinued movement. 'rt.
thmovement—whither?
Towards the frontiers °fit.
Turks
territory!
If OMER PACIIA and his bra:
vastly
are still left
to struggle unaided withihe vas°lttuys superior forces,
numerically speaking, a the
lemiooivtitiaeets,byi t
Arilma ,t
be exceedingly gratifying
Dardanelles.
En 1,
as many as 1,500. of th©
aanfteellres.
land had landed at Gallipoli, in the
tifteen hundred men ! to be conducted
]long and • arduous march across Turkey to swell
the ranks of the g,allaßt band of the warriers of
the • SULTAN, contending with the barbarian
hordes , directed .again:st them by the despotic
ruler of 70,000,000 of souls—.the vast aggregate
of the Russian population ! -
Further encouragement .is given _to the people
of Western Europe, by the announcement of the
fact that, the French fleet has taken its departure
from fyest fill. the Gulf of ,Finland. EVerything,
indeed, still •continues Li) itiaikrato a movement
towardl--not . au arrival at, bat a movement
iottards----the seat of war aronz the caast her's cf
the Ewan?, and there cf the -Baltic, a rnovement
towards those , coasts on the part' of the allied
armaments. Scarcely anything, indeed, has been
)OA, to be done in the way, we will acknowledge that,,
o.'wit,rlike preparation. But everything, literally
4)1.613t thi remains to be _ done in the way of
actual -aphievement. For' as yet Eigland.l and.
Eiro Jiltve. done abeolutely nothing in,,poi4it oft
#fr-:114,41-10 cuteuted: tht=el+ ei

with sketching out upon a tolerably large scale all'
they_ purpose effecting by, land and :by sea,
towards the accompliShment of the projected
triumph of civilisation.
The Dobrudscha has to be reclaimed from the
possession of the invading -Muscovites. The enemy
has to be driven back across the Danube—out of
Wallachia—out of Moldavia---beyond the channel
of the Pruth, the boundary of Bessarabia. Varna
has to be defended—Sinope has to be avenged—
Odessa has to be captured—Sebastopol has to be
stripped of all its formidable array of batteries—
the Crimea has to be wrested from the grasp of
its: present possessor—the Black Sea f has to be
opened" to the navigation of the vessels of both
hemispheres—the barrier of treaties has to be
'broken down for ever both at the mouth of the
Bosphorus and at the mouth of the Darda-
'nelles—the mouths of ,the Danube have to
be opened, and that permanently—Roumelia
has to be defended' by a line stronger than
that of the Balkan mountains—by that fur-
nished by -the solid guarantee of the great
Powers of Christendom. And in this manner
have to be secured—the peace cif Europe—the
independence of Turkey—the safety of Constan-
tinople.

Tolerably well all• this as the prograthme of our
warlike achievefnents ! Especially when we re-
member the astonishing number of our troops—
about fifteen hundred men—as yet landed on one
of the extreme points of the Turkish territory.
Fortunately for the fair fame of France and
England if their military armaments are rather
backward and altogether inadequate in re-
gard to numbers, remembering the mag-
nitude of the emergency—their navies, both
in the North Sea and in the Black Sea, are
everything that could be reasonably
.desired.
Upon them, especially, our hopes are concen-
trated. Upon the Euxine Fleet, under DuNDAS and
HAMELIN, and the Baltic Fleet under NA.PZER and
DESCHENES. Particularly, at this juncture, are
the hopes of France and England directed towards
the formidable array under the orders of the
heroic sea captains last mentioned. Every reli-
ance is placed in their capacity. Every confidence
is reposed in their skill and daring. English-
men and Frenchmen are hence looking forward
hopefully for " news of battle" from Riga, and
from Revel, , and from Helsingfors, and from
Kronstadt. The seizure of Aland is felt to be
but as a step in advance on the road towards the
humbling of the pride" of St. Petersburg.
After the policy pursued during so long a period
by the CZAR, the Western allies of Turkey can
have no compunction in opposing his despotism to
the very uttermost. If anything had been needed
to dissipate the last shadowy dream of a recon-
ciliation between Russia and the arch-champions at
once of Turkey and of Civilisation—it would
assuredly have been found in the comment made
by the CZAR'S official organ on the 12th of April,
on the confidential correspondence, and in the yet
more curious document which appeared in the next
day's publication of the same journal, the Journal
of St. Petersburg—the Russian EMPEROR'S shameless
and flagitious " Declaration.", That State paper
issued in his name crowns the whole of his inde-
fensible proceedings.' It• is the. last signal for a
war 4 l'outrance between the Northern • Power
representing all , the might of barbarism, and the
two most civilised races of Christendom.

"A plague o' both the houses !" 'That many-
headed Mercutio, the community at large, may
well anathematise the contending parties, to
whose proceedings such fatal results may directly.
be ascribed. To their quarrels we owe the-tight-
ness in the money market, the results whereof
are discernible in the high rate of . interest, and
the ,difficulty of obtaining the, requisite monetary
facilities,. even -at the most exorbitant and
usurious charges. - To these disputes may
also be attributed the great depreciation
in the prices ,of the public, funds, and all
other descriptions of securities, public or private.
We may indeed declare that an amount of injury
has" already been occasioned which it will be ditfi-
.cult, if not impossible, to retrieve. • -
- To mar the financial operation attempted by the,
Chancellor of the Exchequer, the Bank increased its
minimum rate of discount. So well was this altera-
tion timed—the announcement being made the day
previous to the last for receiving assents—that it
completely uprooted the foundation on which Mr.
GLansroNnfondlyhoped to construct a pre-eminent
financialreputation. The right hon. gentleman was
not disposed to bear his defeat meekly. So, in place
of issuing the Stock -Which was to have been given
in- Exchange, or making terms for a new loan to
the amount of that which' ho was Paying oft; he
satisfied the claims of the dissentients to the
amount of EIGHT MILLIONS STERLING Out Of the
Exchequer balances, reducing the Government
account to a scandalously lOw figure, 'and render-
ing the maintenance of public credit dependent on
a. system of " kiting," which would be justly re-
probated if, the pecuniary. affairs of the nation
should ever come to be investigated in Basinghall-
street, or Portugal-street. The effect of this adverse
move on the Bank authorities would have been
perfectly ridiculous, if it were not so exceedingly
prejudicial to the trade
,and commerce of the
country. The " Old Lady" ,who had chuckled 30
audibly at her temporary triumph became per-
fectly hysterical at the severe retribution. In
place of having five or six millions of Government
money to deal with as she thought proper, she
had to advance some two or three millions to the
Government at, a reduced rate of interest, and with-
out receiving the slightest thanks for the accommo-
dation—nay, being even soundly. rated for daring
even to remonstrate at what was practically neither
more nor less than ' a "forced .loan," the force
however being moral in place of physical, the de-
mand not being exactly " your money or your
life," as uttered by the heroes of -the highways;
but rather the gentle persuasion of the disciples
of "SWING"---" Your raoney,•or we fire your pre-
mises and destroy your' property." "Refuse to
honour my cheques"—says the Financial Minister
—"and you not only destroy the value of your own
SeCurities, but mayalso depend-on having the lucra-
tive monopoly you have so long enjoyed broken
up. You shall no longer have the management
of ' the- public debt—no' longer be allowed to
issue notes. Stringent as are the restrictions on
banking at this moment, I shall make them ten
times more onerous. Submit, therefore, to any
terms that I may think proper to dictate, how-
ever exacting, and do so cheerfully, without even
a murmur, or dread ' the consequences !" This
is all that the public know of the quarrel, save
through the significant hints given by the Le-
viathan in articles bearing unequivocal evidence of
their official origin, redolent of Downing-street in
every part, and bullying the unfortunate Directors
in terms only suitable to a perfee.tly despotic au-
thority,
such as Turkish. (iadi or a Harrow -
Monitor. Whether the directors will at once suc-
cumb, and take their " whopping" with submis-
sive humility, apologising for the slight hesitation,
remains to be seen. That will' be known in good
time, and we patiently await the result, convinced
that any alteration must be beneficial, for nothing
can be worse than the doubt and uncertainty
that has so long prevailed.
What has hitherto arisen may be briefly
explained. Mr. GLADSTONE has not merely
seleOted the eve . of a perilous and expen-
sive conflict for paying off no less than
EIGHT airizloNs STERLING, just as we are bound
to provide for the expenses of war establishmenti ;
but he has crippled the revenues of the Bank at
P' Utile When there is a rapid and steadily-increas-
ing drain of bullion from our shores—a drain
which has already diminished the value of the
precious metals .in the vaults of the Bank by more
than Elam' Niri.raoxs STERLI.Ia. Ire Lus, .LIS We
say, crippled the re
3ouroes orf the Bank, and taken
a 111:8 amount of UHT
.',T.ZRLINC't from
tdL fund~ whicb,
•itall for the accommodation of
the trade and commerce of the country. This is
obviously the case, for if, in place of there being
Government balances, to the amount of six mil-
lions, the Bank is obliged to advance two millions
to the Exchequer, it is obvious that.the aggreeate
of these sumS, or eight millions, is no longer
able fox the use Of the mercantile eonununity.,
—There is o.lls 3,00,000.?. of debt paid off and
d 8 000 000 W exPottectivim-the
cauceme • ) " , -

~r ~y~; r

I country, and therefore 8,000.,000/. of notes neces-
ly cancelled -and withdrawn from circulation,
and 8,000,000/. less-available for the discount of
commercial paper and maintaining the credit of
-the bees in the great hive—the creators and pro-
ducers' of national wealth. Well,-then, may the
dispute that has produced such results be depre=
sated. We bear the evil, however, .in the hopd
that it may eventually lead to the abolition of the.
iniquitous Act of 1844, the repeal whereof would
amply compensate for all the nation has suffered,
is suffering, or may hereafter suffer, unless the
strings be drawn very tightly indeed.
The Right Hon. Gentleman-has, in one respect,
yielded, not to the remonstrances of the Directors,
but to the demand of the mercantile community.
He has just issued a notification that he is Toady
to receive tenders for Exchequer Bills of the
nominal .value of Six MILLIONS STERLING, of
which Two Millions will be redeemable at par on
the Bth of May, 1858 ; Two MILLIONS on similar
terms on the Bth of May, 1859, and Two MlL-
mows on the §,th of May, 1860. All these bills
will bear interest during the interim, at the rate
of 3-1 per cent. per annum, and the amount sub-
scribed for will be received in, certain specified in-
stalments, spread over a period of nearly six
months, the last instalment being payable on the
17th October next.
'Now the first matter worthy of particular notice
in the foregoing, . is that, notwithstanding the
rapid departure of bullion, which fore the week
ending the 15th instant, amounted to no less
than 629,7261., he still persists in cancelling a
portion of the 'debt exceeding Two MILLIONS
sterling. , He has paid off more than EIGIIT MIL-
LIONS. To, replace it- he borrows only six
MILLIONS. Two MILLIONS are,. therefore, abso-
lutely cancelled at the expense of the present
generation—in addition to having to bear the
entire burden of the war, expenditure. But this
is not all. The entire six MILLIONS are to be paid
off within six. years. Or, in other words, oNE
MILLION per annum is to be added to the current
expenditure, and provided to meet the engagements
on which we are entering. We have thus, under
the most untoward circumstances, to bear the
whole charges of a war occasioned by a prudent
regard for the interests of posterity, but to cover
Mr. GLADSTONE'S financial blunders we are to pay
off so much of.the burdens bequeathed by our ances-
tors. This is neither just nor politic. Nay, more, it
may not be practicable. We ha7e great faith in
the elasticity of the national resources, but it is
not fair to tax them too severely. • We must re-
collect that the full amount of these bills may at
any time be paid in at par in liquidation of
duties, or, other debts to, the Crown. So that,
although ,nog redeethable untillBsB, the whole
may be brought to account, on the wrong
side of our national balance-sheet in any single
year. This is a dangerous liability, and one which
ought to be carefully considered before it receives
the Parliamentary sanction !
There are other points also deserving of notice,
to which we shall not fail to direct public atten-
tion before the re-assembling of the popular repre-
sentatives after the Easter Recess.

CpUB-T-C-IRCULAR.

WINDSOR, APRIL 21.

The dinner party at the Castle yesterday included the
Duchess of Kent, Lady Anna Maria Dawson, 'Colonel
the tion. C. B. Phipps, the Baroness de Speth, and Mr.
Gibbs.

The band of the Royal Horse Guards was in attend-
ance during dinner. Her ,Majesty's private band after-
wards attended in the Castle, and played the following
selection :--
Civerture, "La Sirene" Auber.
Selection, “Lstoire du Nord."
Krieges Marsch Mendelssohn.

The Queen and Prince Albert, attended by the Coun-
tess of Desart, the Hon. Mary Bulteel, Lord Charles
Fitzroy, and. Lieut.-Col. If. H. Seymour, drove out'yes-
terday afternoon, and honoured the Duchess of Suther-
land with a visit at Clifden. The royal party occupied
twoopencarriages.

The. Princesses Helena and Louisa also took a carriage
drive. •

The Earl of Clarendon is expected to-day on a visit to
her Majesty.

Despatches for the Governor of Canada were sent lasi
evening from the Colonial=office.

TIIE FIII,BII PRIZE.

PORTSMOUTH, FRIDAY NIGHT.
Thin evening,
between 6 and 7 o'clock, no little commo-
tion was caused in this port by the appearance in the road-
stead of one of her Majesty's steam-vessels having a sailing
ship in tow, and' making foi the harbour with all speed.
The ramparts ware quickly thronged with the inhabi-
tants, who, as soon as the vessel approached near
enough for the colours of the sailing craft to be made
out as Russian, loudly cheered her fortunate captors.
On boarding the vessel, we found that her Majesty's
revenue 'steam, cruiser Argus, Commander M.' W. S.
Grandy,. which left Southead yesterday, fell in with the
Froya, for Abo, .440 tons, 15 men, Wiekmann, 'master,
to-day about noon, between the Owers and 'Beechy
Head (about 13 miles from the latter point), and boarded
her, ultimately making a prize of her. She is a fine 'ship,
four years old,. and apparently in good eondition. She
left Lisbon on the 28th ultimo, with about 600 tons
of salt as. ,cargo; ,and was bound' lor Abo, although
her master (who speaks very good English) says
Elsinore. No opposition was offered to her deten4
tion, and Commander Grandy accordingly took her in
tow, and ..brought her -in here. She carries two nine=
pound carronades, together with small arms for her
crew, and a little ammunition. The revenue authori-
ties who have boarded her :consider her-a lawful priie,
and the:Capture has been duly reported to the Port-
Admiral, and by him to the Admiralty.

VISIT or HER MAJESTY TO ST. PAUL'S CATHEDRAL.
—Yesterday the preparations commenced at St. Paul's
Cathedral for the reception of her Majesty on the ap•
proaching anniversary of the Festival of the Sons of the
Clergy, who, together with the Royal Consort, will,
according to the arrangements, be present. The whole
interior of the Cathedral is being fitted for visitors. The
Lord Mayor and corporation intend to make extraordi-
dinary arrangements to welcome the. Queen and Prince
Albert's visit the City.

The Earl and CoUntess of Clarendon are staying
during. the recess at the Grove Watford, his lordship
cf comin to town to transact business at the Foreign
*
Office. ,

- The Earl Howe's second son, the Hon. Major Cnrzon,
of the Grenadier Guards, lately on thestaff of Sir George
Cathcart, at the Cam has been appointed Aide-de-camp
to the Hon. Major-General George Anson, who has
arrived from Europe to assume the command in the
Bengal Presidency. " Lieut. the Hon. Leicester Curzon,
of the Rifle Brigade, embarked on the staff of Lord
Raglan at Marseilles, for the seat of war.
We understand that Lady Raglan and family, by
telegraphic despatch, received yesterday intelligence of
the departure of the Gallant General Lord Raglan and
staff, on board her Majesty's steamer Caradoc, at Mar-
seilles, on Wednesday, for Constantinople, where his
'lordship would assume the command-in-chief of the
British expeditionary force.
BRITU3II AUSTRALIAN GOLD COMPANT.—An adjourned
meeting of this company took place yesterday, when it
was stated that all their men had been discharged, ex-
cept those working at Spring Creek, and that the Sey-
mour grant had been relinquished. • The directors haye
despatched one of their officers to Melbourne with ma-
chinery to work the abandoned diggings at Bendigo,
allowing a commission on the amount reeeived. From
this source it is thought .some profit may.be derived.
In-answer to A question, the chairman intimated that
about 13,0001. of the capital remains intact.
COMIERCIAL CREDIT MDTUAL ASSURANCE SOCIETY.—
The annual report of this society was presented at a
meeting held yesterday, and was unanimously adopted.
It states that the experiment in this country of applying
the principle of mutual assurance to the protection of
traders against commercial losSei hie been found to suc-
ceed, and that there are now 228 firms on the books of
the company holding policies, and whose aggregate
annual returns amount to 4,925,000/.
NEW YORK AND CALIFORNIA.—The mail communi-
cationbetween New York and California now occupies
25 days.. It is a fortnightly communication, and costs
the American Government about 200,0001. a year. It
has been seriously entertained by the American House
of Representatives to offer half a million sterling a year
to whatever company will establish a mail communica-
tion between New Orleans and San Francisco in 10 days:
Of the practicability of the fact in a short time no doubt
seems to be entertained. - •
SODDEN DEATH TkIROUGH MOITEMENT.—Lut night
k melanchnly, occurrence took place in Angel-court,
Strand, under the following. distressing circumstances
—A married. Woman, named Weston, who is a, perfect
virago, ,never happy unless when quarreling or fighting,
and the terror of the females of the neighbourhood, had
beenengaged during the whole of Friday in displaying
hsr, uumeivits accomplishments,. and praciency in Bil-
lingsgate and other slang language upon an unoffentling
aged 7.7.c.n1ar., tho wife of John Connor, who resides in
the aliove-mentioneci court, but not being satisfied with
poured forth upon' the old
the scurrilous language gm.
lady, she waylaid the daughter, and about ten o'clock, as
the young -woman was entering the passage, seized her
by the hair, and commenced pummelling most unmerci-
fully. Mrs. Connor, on hearing the screams of her daugh-
ter, hastened to her assistance, and only uttered • the
exclamation, "Oh !
._part them for God!fi sake," when'
she fell down and instantly expired. Medical -aid was
iminediately, obtained, but it was of no avail. The
Curie Coranii b.:ao,ree„eiyol jrjermation of alit 1;11tIallehcilZ
"

W~, y.K .i./ i ~