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

in depth from 200 to 300 feet, and even a quarter of ari
acre could be had, if required ; and this, be it rem em.
bered, 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-Lancashire
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. BisHor-CuLrErER said he felt very great plea•
sure in seconding it.
Col. Dicssox then put it to the meeting, and declared
it carried enthusiastically.
The CHAIRMAN having briefly acknowledged the com.
plinient, the proceedings, which had been of the most
agreeable description, terminated.

REDUCTION OF THE DUTY ON IRON

JIV FRANCE.

(From the Times.)
The Monitcur 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 material's
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 subs
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 of Franco,
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. do Turgot to which
we bad 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 tohi
the country 1 hat it must look for relief in this
emergency to no other source than to the natural
operations of trade. The reduction of the duties
on coal and iron is another proof that in the Colin•
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 pro.
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-
loefutaldl isdeeassoer,ipatnidontsh.e glrneattirieisesionuttleovfalFurae onfowines
France
olive crop has not been favourable, and even thet
produce of the silk-growers is below e
w the average.
But work is abundant. aad wages 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
twosth primary
pity every
e
heap
forir they an
tedeenherapmo
conditions,fureel
oarreleee
into
branch of industry down to the ordinary wants of
domestic life ; and we trust that the success of this
induce
ater
limited experiment will t
freedom and resolu-
he French Governs
ment to proceed with gre
tion to relax the bonds which have hung so long
on the foreign trade of the country.

SOUTH SEA STOCK.— Much 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 Parlia.
ment to obtain an act empowering them to do so.
The bill for the purpose was thrown out, iniconseqriugehntce
of a plan being included in it for converting the South
contended, eCnoclme tnhya itntthoeasetorbuletctesosmhpoaunlP andhave been sought by
separate bills. According to an advertisement on Mon.
day last, however, it appears that the application to
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
who feel no interest in this part of the question, and
who merely wish to have the amount of their stock' paid
to them as soon as possible, should be thus inconside•
rately tampered with.

_ .
STOCKPORT, DISLEY, AND WHALEY BRIDGE RAILWAY:
—This contemplated new line has long been imperatively
called for by the wants of the populous districts through
which it is designed to pass. The absence of railway
communication in the present day acts depreciatingly
upon the value of property. Even this is felt in coin•
paratively thinly populated places, but it becomes a stilt
more serious evil in a district rife with mills, manufac.
tories, and operatives. A direct line of communication
between the populous manufacturing town of Stockport
and Whaley Bridge has long been a desideratum, and
the present project is intended to supply it. The wh (Iles
country the intended line will traverse is teeming with
and people which loudly demand the benefitsisf
railway transit. In undertakings of this kindan there o
one great object to be kept in view, and theatibs,ewnailtlisit
prove a safe investment ? If this question .
agitateth e
news.
eanye
c
factorily answered it is scarcely necessary
p
other, as the fact of its being payable
rovtoes
of the parties about to carry
the work into operation 2
sity of the project. The next question for the public to
enquire is, the character
Looking at the names ats
f gentlemen of high standing,
r,O we can say that the provisional
committee
theiis
pe rooms r:oe cs
etind
g.
large property,
1'
the
increased facilities forir commercial pursuits, but on
gratulate the public gnotuestionable integrity. We con.
only upon the prospect of
account of the business•like and honourable men who
bring out the resources
comforts of the district by projecting and
to the social
- have stood forward to and add
commencing an undertaking fraught with benefit to all.
We heartily wish the works may be commenced with 11,
ittle delay as possible.