The Sun.
London, England, 1854-01-02 00:00:00

THE SUN, LONDON, MONDAY EVENT

Corn Laws and Protection, had to do what these

operatives must do sooner or later ; they had to
yield to the irreversible laws of political economy—
in other words, to the laws of PROVIDENCE. There
is no reasonable and reflecting man of forty

among us who has not had to change or modify
his views, and who could therefore for a moment
taunt the men of Preston, if the majority of

them acknowledged that they had conducted their
struggle hitherto on an unsound principle, that
they were willing therefore to return to work,
and to try a better one. It may encourage
them to cast a glance on the " ruined farmers
and their ruined landlords," and to mark how

completely the abandonment of compulsory
prices for food has been followed by results the
reverse of those predicted by agriculturists, not
only to themselves, but to th• rest of the community.
Free Trade in corn has given prices for food, and
that too with unexampled importation from

abroad, such as have hardly been heard of by
half the present generation ; and Free Trade in
labour, there is every reason to think, would work
precisely the same results. It could not, indeed,
make wages high when labour is redundant, but
it would rapidly direct labour into its most natural
and profitable channels, would adjust most advan-
tageously the proportions employed in each trade,
manufacture, and employment ; would thus in-
crease the consuming powers of the great bulk of
the population ; and the circle would therefore be
completed by greater general production, and
greater demand for the productions. Disturbing
causes, like war, famine, and pestilence there will
always be ; but unfettered production in every
department always means that each class has more
to offer to other classes of the commodities it pro-
duces, and that other classes have also more to
offer in return. All are wealthier when all are

working, and working where the demand for their
labour shows they are wanted.
Lord PALMERSTON suggests to the men on strike,
how much better it would be to let the causes

which inevitably affect the value of labour "act
silently and gradually in equitably adjusting, from

.. _
time to time, the proper rates of the money re-
ward for labour." This is unrestricted competi-
tion in the labour market ; strikes and unions are
protection ; and we believe, honestly, that they
are as much the cause and the bane of the labour-

ing classes as legislative protection was of every
trade which enjoyed it. Operatives thus endea-
voured to get from the buyer of labour a price

which it would not command were it left to each
man to sell his labour as he pleased. A commit-
tee price for labour is as vicious in principle as a
House of Commons price for wheat. Reverse the
process. Let every operative free from threaten-
ing, free even from the awful punishment of being
sent to Coventry by his own class, let him, as an
independent man, accept such terms from the
capitalist as the latter is pleased to offer. Sup-
pose they are lower than the capitalist can afford,
and that the master is making undue profits ; the
keen eye of his neighbour capitalist perceives it in
an instant, up goes another mill or another fac-
tory ; the underpaid operatives now perceive their
" good time coming ;" their labour will be
wanted. A bidding for it forthwith be-
gins between the two millowners. Nei-
ther of them will allow, if possible, the capital
sunk in his buildings and machinery to lie idle.
Wages begin to go up, for there are fewer labour-
ers than are wanted, and up they will go till they
reach the point when it is not worth the employ-
ers while to work his mill. This case between
two mills applies equally to a thousand or to ten
thousand. If heavy profits are made for any
length of time, the capital of the country will flow
Ito them as surely as water will seek the lowest
level ; and if capital flows into any department
of trade, employment in it must be brisk, and
wages will rise whether masters like or not. No
business now can long monopolise excessive pro-
fits. If the operatives who can work in it are
few, then raised wages will soon swallow up a
large portion of the gain. If its work can be
done by anybody, the influx of capital and easily
obtained labourers will soon bring its profits to
the averave Jevel of other trades.
The strike-men can abuse their masters freely
enough, but after all they have little practical
faith in their selfishness. Perfect faith in it
would save them from all the follies and direct
miseries of the strike, and from the far more
serious danger of driving the very trade which
supports them to lands where workmen are too
wise to strike. Yes, we only ask them to
believe their masters to be so selfish that they
will bid one against the other, if they want
labourers, till another bid would be their ruin.
Does Mr. GEORGE COWELL believe this of them or
not ? He may believe it to the letter. All the
masters in the kingdom, if their concerns were
short of workmen, would offer increased wages
to attract them, as long as their profits would
permit them to do so ; and they would care no
more about other masters than one shopkeeper
cares about another, if he thinks he can really in-
crease his profits by prices which allure his neigh-
bour's customers. It is only by this " silent and
gradual" process that wages can safely or per-
manently rise. If the Preston men will only act
on this practical hint from Lord PALMERSTON,
they will gain all that they can gain from this
strike, which is—never to strike again. This
generation probably never will; but it were high
time that their offspring should learn at the
opening of the social catechism, that the price of
their labour must depend upon the competition
for it, or the absence of it, amongst those who
need it, and that one of the social commandments
most essential to the well-being of workmen is—
"Ye shall not strike." Present ignorance on the
subject among the working classes is little to
be wondered at, when we remember with
what infinite labour " The League" indoctri-
nated the masters themselves with Free-trade
principles, and the little that has been done to
show the working man how strictly those prin-
ciples apply to labour also, and how infallibly they
will override all mistaken legislation on wages,
whether by Governments or by Committees of
Delegates. It will be some consolatory gain from
all the discussions originated by the errors at
Preston if workmen learn to trust to reason and to
natural causes instead of resorting to protection.
We fear, indeed, that temper has, in the present
case, more to do with it than reason ; and that
whilst other operatives throughout the kingdom
mulct themselves of the money which should
educate their children to keep the operative arm y
at Preston upon half-pay, there is little hope of
reason being listened to. For sixteen weeks has
ignorance thus enabled ignorance to defy the laws
of our social economy, and mistaken kindness
embittered the hearts of men against their masters.
How long this will go on it is impossible to say.
We see that CowELL, who once said, " only get
Christmas here," now says, " only get spring
here"—just as poor DANIEL O'CONNELL used to
defer his seasons for carrying repeal. We trust
that such Irish blarney will soon op en the eyes of
Englishmen.
ay

ENTRANCE OF THE ALLIED FLEETS
INTO .THE BLACK SEA.

We have just received the intelligence, that the
allied fleets entered the Black Sea on the 21st ult.
This information comes to us from a quarter on
which we can rely. The question now comes to be,
What will the united squadrons do, now that they
have got there ?—Morning Advertiser.

CAUTION TO LORD ABERDEEN AND SIR JAMES
GRAIIA3I.—We have been informed, on excellent autho-
rity, that agents of Russia are at the present moment
engaged in this country in search of ships and warlike
stores for the Russian government. Agents have also
proceeded to America on a similar mission. We can-
not calculate on the extent of their success across the
Atlantic, but it is right to warn all British subjects that
they will subject themselves to very heavy: penalties if
they shall be found engaged in the prohibited commerce
of arms, ammunition, or armed vessels, with any fo-
reign sta'e. This contraband trade is prohibited with
parties in a time of peace. We are at this moment in
what is termed a hostile attitude. Should actual hosti-
lities occur, all persons engaged in this dangerous traffic
would be placed in a position of some danger. In such
an event, which may come upon us any day, the crime
and the punishment would be perilously increased. The
warning, therefore, we hope, will not be thrown away,
it the guilty parties may be assured that they will not
be allowed to escape with impunity.--Observer.

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

GITY, TWO O'CLOCK.
The sales of cotton at hiverpool on Saturday were
estimated at from 5,000 to 6,000 bales. The market
was firm, and prices of all kinds fully supported.
The sales comprised 100 Pernam and Maranham at
Qd to 7id, 100 Bahia at 61d to 6id, 500 Egyptian at
6d to 9d, 500 Surat at 3d. to 3/d., and the re-
mainder American. Railway Shares were heavy.

The railway meetings announced are the fol-
lowing :

Company. Date. Place, &c.
Great Indian Peninsular Jan. 11, 3, New Broad-st.
Kilkenny andGt.Southern Jan. 11, 17, Gracechurch-
and Western (Ireland) street.
London and Greenwich Jan. 10, 10, Coleman-st.
London,Brighton,& S. Coast Jan. 26, Bridge House Hl.
It is stated in a communication, from Mr. Joseph
Whitaker, of Liverpool, that, " During the month
of December, there have been despatched from
Liverpool to the Australian colonies, 15 vessels,
with an aggregate of 11,186 tons, and carrying 957
passengers, viz.:—Sydney, 3 vessels, 1,821 tons,
12 passengers ; Melbourne and Sydney, 3 vessels,
4,973 tons, 437 passengers; Melbourne, 8 vessels,
4,175 tons, 508 passengers ; Geelong, 1 vessel, 217
tons, no passengers. Freights to Melbourne are
now quoted at 70s. to 80s. to the Bay, and 90s. to
110 s. to the Wharf.

The state of the Manchester market, according
to the report of Messrs. N'Nair, Greenhow, and
Irving, is satisfactory. They inform us that stocks
are light, and that last month a good demand has
existed for the home trade. Cotton they expect
to see dearer, and, in conclusion, they observe :

" What the new year may bring forth it is, of course,
impossible to say. 'Where- the influences attaching to
the Eastern question fairly removed, we could confi-
dently calculate upon a year of renewed vigour and pro-
sperity. In case they were effected, the present value
of money, unless increased, would not, we think, mate-
rially interpose ; added to these, the conclusion of the
Chinese insurrection would afford a stimulus equal, if
not surpassing that of the opening of the trade with that
vast and unknown country. With its vast and really
unknown resources we are yet unacquainted.
"We close the year, according to our judgment, in
confidence of existing sources of ascertained data for rea-
sonable and beneficial hopes for the future. Though
money has been dearer, and restricted employment from
that and other causes has ensued, we rely on the belief
that, eventually, muck good will ensue. The various
important markets abroad have, by these seemingly hard
processes, become restricted essentially in their habitual
and unnatural supplies ; and, as a consequence, new and
legitimate enterprise will be encouraged, and for a time
cultivated."

Letters for India and Australia, to be sent by
the overland mail, must be posted on the evening
of the 3d, or before eight o'clock on the morning of
the 4th ; by way of Southampton and via Mar-
seilles, at six p.m. on the 9th.
The English Funds have been very weak this
morning, although the intelligence that the Divan
has accepted the Vienna propositions would pro-
bably at any other time have induced buoyancy.
The impression, however, grows daily stronger
that Russia will persist in her demands. Consols
have been 931, and are now 93. The New Three-
and-a-Quarter per Cents. have been done at 941 to
94k, and the Reduced Three per Cents. at 93i to
Exchequer Bills are ss. to Bs. premium, and India
Bonds par.
The Foreign Market presents a heavy appear-
ance, most securities being at reduced values.
Mexican Bonds, however, are firm at 24. Grenada
Deferred are and Danish Five per Cents. 102,
being lower in both instances. Spanish Bonds are
quoted ex dividend, the Three per Cents. being
441, and the New Deferred 211 Z. Austrian Bonds
are markd 81. Dutch Two-and-a-Half per Cents.
are 631, ex dividend.
Railway Shares are very inanimate, and a further
decline has in most instances taken place. Cale-
donian have dropped about 11., Eastern Counties
55., Midland 155., and Brighton 1/. Bristol and
Exeter, North Western, South Eastern, and York
and North Midland, are firm. French shares are
dull. Luxembourg are about ss. under Saturday's
quotations.
Very little is doing in Gold Mine Shares, and
generally there is no alteration in prices.
Bank Shares are inactive. Australasia are about
10s. better, but Oriental 1/. lower.
Land Shares are depressed, the Australian Agri-
cultural having receded about 11., and the South
Australian to a like extent. The British American
Land, however, pro an ezceptinr. • .614;.-€5 stbola.t It.
higher.

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

- -
Business done.
Bank-,Stock ................ ........ 216 18
3 per Cent. Reduced Annuities 93s b a
New 31 per Cent. Annuities 94ii4ii
Long Annuities, Expire sth Jan., 1860
India Bonds, £lOOO •••
Consols for Opening 18th Jan..,,... 93.# 3 23 3i 23
Exchequer Bills, ld.
£l000
1:500
Small 8 5 p
PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent. —
Ditto New, 1852, 43/4 per Cent 93k 2/
Buenos Ayres Bonds, 6 per Cent 63b
Chilian Bonds, 6 per Cent lO3
Danish Bonds, 1825, 3 per Cent —
Pitto 5 per Cent
Equador Bonds
Grenada Bonds, Ex. Dec., 1849, Coupon 2O
Grenada Bonds, Deferred
Mexican 3 per Cent.
Portuguese Bonds, 5 per Cent 44 33
Ditto 4 per Cont.
Russian Bonds, 1822, 5 per Cent. £St ll2b
Ditto 4b per Cent 95
Spanish Bonds, 3 per Cent 44. I
Spanish New Deferred, 3 per Cent. 2ll a 4
Spanish Committee Cert. of Coup. not fun. 4/ p c
Venezuela Bonds, 3i per Ceat. 3O
Ditto Deferred, 1 per Cent l3
Dividends on the above payable in London.
Austrian Bonds 5 per Cent. 10 On.. 2 Bl
Dutch Exchange, 2b per Cent. 12 Guil 63/ x d
Ditto 4 per Cent. Certifieates _ 96b

THREE O'CLOCK.
Consols for Opening ISth January 92i 3 X d

ACCIDENT AT THE EUSTON-SQUARE TERMINUS.—On
Saturday forenoon, a frightful accident occurred iu the
coach-building department in the vicinity of the station,
by which a man named George Lewis, a fitter, met with
a shocking death. Lewis was engaged in working a
belt for a shaft near a wheel, driven by an engine of
sixteen horse power, which was at the time revolving at
a rapid rate. A portion of the wheel caught his jacket,
and in each revolution of the wheel his head was dashed
against an iron girder with such force that it was bent by
the collision. The poor fellow was heard to exclaim once
or twice, " Oh, oh !" bnt before the engine could be
stopped he was tightly wedged in the shaft. He was
taken to the University College Hospital, but had ceased
to exist before he was extricated from the machine. His
head and legs were completely crushed, his ribs broken,
and his body otherwise frightfully mutilated. He had
worked in the factory three years. He resided at No.
7, Stanmore-street, Old St. Pancras-road, where he
leaves a widow lying ill in bed with fever, and seven
young children, one of whom, a little girl, a few weeks
back fell out of a two-pair window, and was impaled on
the iron railings, and by which she is rendered a cripple
for life.
ACCIDENT ON THE RIVER.— On Saturday Mr. W.
Carter held an inquiry into the circumstances connected
with the death of Mr. Charles Giamellii, aged 20, the
son of the proprietor of the Warwick Hotel, Warwick-
street, Regent-street, who lost his life on Monday last
by the swamping of an eight-oared cutter by the swell
of a large steamer belonging to the North of Europe
Steam Navigation; Company. Mr. Richard Freething,
a jeweller, of 33, Gloucester-street, St. John's-street-
road, Islington, deposed that on Monday afternoon last
he met the deceased and eight other persons at Mr.
Ralph's, boat-builder, Lambeth, aad hired an eight-oared
cutter to amuse themselves for a few hours. They intended
to go as far as Greenwich, and had proceeded down the
riveras far as the London docks when they observed a large
steamer coming up the river. Witness turned round to the
deceased and said it was customary for large steamers to
ease their steam when passing a light boat, but the Ham-
burg did not do so. The swell caused by the steamer
was very great. After passing the steamer some dis-
tance, a person named Bushby, who was steering, called
to the rowers to hold up the boat, that was to keep the
oars on the water for the purpose of passing over the
swell. This was done and the boat passed over the first ;
but, in doing so, the nose of the boat veered from the
straight course, from there being no way on it. Bushby
then called to the bow oars to row a stroke, to put the
boat straight, to meet the second surf, which was also
done, but the surf broke over their heads, filling the boat
up to the seats. The boat then sunk, and witness and his
companions, with the exception of the deceased, were
rescued by several watermen. Coroner : Did you hail
the steamer ?--Witness : No, sir. William Bushby, sta-
tioner, of 6, Herbert's-place, Beaufort-buildings, Strand,
the steerer, gave a similar account. Coroner ! Have
you been used to steering I—Witness ! Yes, sir, for up-
wards of eight years. Inspector Trickey, of the Thames
police, said that steamers were allowed to go up and
down the Pool at five miles an hour. He was of opi-
nion that the steamer was not going at a rate more than
between four or five miles an hour. At the time of the
occurrence it was about an hour before flood tide, and
therefore very low. Coroner : How do you think the
occurrence might have been avoided ?—Witness : By the
persons in the cutter going inside the tier, instead of
going outside, in the stream. Coroner :Is a steamer
obliged to ease her steam when passing a light boat ?
Witness : It is not compulsory for a steamer to stop
when passing a boat, but many commanders and pilots
do so. The jury, after a long consultation, returned a
verdict to the effect that the deceased was accidentally
6 drowned.