The Sun.
London, England, 1831-12-02 00:00:00

'sure there would be a continual cotaraversy between the
parties. My Lord, as regards myself, Ido confess that
on this occasion I am in a dilemma--a pleasant dilemma
I acknowledge it to be, because whether I succeed or
whether I fail in opposing this motion, I shall, as far as
I am myself concerned, succeed, If I can satisfy you
that the I:lotion ought not to be granted, I shall theta suc-
ceed fot• my client, which is my most anxious wish. If I
fail for my client, and a change takes place in the politics
of The Sun newspaper, which at present advocates so
forcibly and so admirably one line of politics, with which
I confess I don't quite agree, then the result will be a benefit
tome as far as my political views are concerned. —( A laugh. )
But, my Lord, to be serious on the subj, ct, I believe
there never was a case in which there was less pretence
this the present fur the interference of this Court. There
is not a single allegation of misconduct brought against
my client Mr. Young,—on the contrary, it is shewn that
be has increased the sale of this newspaper by his zeal and
by his activity, in a way that seems to me to be truly
astonishing.
The Loan CHANCELLOR—I think Mr. Pepys you
said, the sale was increased from 100 to five and thirty
hundred copies a day?
Mr. PErvs--lies.

Sir EDWAFID Silt:MEN—Yes, my Lord, that is about
the statement. Now this was a newspaper which Mr.
Grant gave 500 guineas for in the year 1826. Ile gave
500 guineas for the whole of it, machinery and all-500
guineas for it in one lot. And I must sty that knocking down
The Stan at that pride was—l don't know how to ex-
press it—but certainly was taking a prodigious liberty with
that luminary. Five hundred guineas for The Sun al-
together !—(lNlncls laughter.) I confess it appears to me
to have been a great deal too little. Accordingly, when
my client came into it, he very soon raised its value ; and
your Lordship will hear from the answer, that from that
moment its value increased daily, In two years after my
client came to the concern he gave within a fraction of
2,0001. for a fourth of it, and by the deed of copartner-
ship he was to have the whole and uncontrouled
management of it. He was to draw for his
subsistence a certain sum—eight guineas a week,
and if the profits exceeded a given sum, then he was to
draw an additional sum. Now, my Lord, my client, Mr.
Young, stands at this moment precisely in the situation
which he has always filled, and which by the articles of
copartnership he was made to fill. He is in no respect
different to what ho was. The situation of his copartner
is altered, but his own situation remains the same, and
from the moment that he commenced his management of
the paper it has gone on to flourish. I think Mr. Grant
says that he bought the whole concern for 500 guinea-,
and his own moderate estimate of the value of it now is.
20,000/. Mr. Young himself, which is not disputed, paid
bona fide 2,000/. for a fourth of it in the year 1828. It
is expressly stipulated by the deed of copartnership that
he shall reside at the house from which The Sun issues
its rays, and that he shall have the exclusive management
of it. Sir Edward Sugden went over a part of the terms
of the partnership deed, and said,—from this your Lord-
ship perceives it was expressly stipulated Mr. Young should
reside in the house, and carry on the business. Now,
what your Lordship wants to start with, for the purpose
of entertaining this motion, must be this fact, that Mr.
Young has, since the bankruptcy, conducted this news-
paper in a manner different from what he conducted it
before the bankruptcy, and that lie has been involving it
in a course of expense which was not incurred before. Well,
then, there is not a single syllable to show he has in any
way altered the conduct of the paper. He began his
management upon the precise course which he is now
pursuing with so much success ; and all the fault that
is found with him is, that his partner having become
bankrupt, be has not got so large a sum of ready money
to pay to him as he would wish to receive: nay, so far
from the paper having been in any way deteriorated in
value, Mr. Young himself has offered to give 9,0001. for
the bankrupt's three fourth shares, including also certain
liabilities, and therefore there is a positive increase in the
value of the paper, since Mr. Young purchased his faurth,
and since the bankruptcy occurred. If we look at the
thing as it stands, the value of the paper having been fixed
at something like 14,000/. or 15,0001., which Mr. Grant
only a few years ago gave 500 guineas for, it is certainly
one of the most flourishing concerns that any person
could possibly hear of or desire to have. But, my Lord,
some people are unreasonable ; and one of the unreasonable
notions here is, that you, Mr. Young, notwithstanding
you have thus increased the value of the paper to so enor-
mous an extent—that you have not got a great deal of
eady money to let us participate in the enjoyment of.
We never found fault with you before—we never had °e-
vasion to complain of your management of this paper,
which began in beggary and misery, until the present
moment—and now we are in avant of money and cannot
hare it ! What shall we say of an old established paper
like The Sun, selling for 500 guineas ? Why, it is clear
the circulati.in of it must have dwindled down to an
amount merely nominal; and no capital having
been required to purchase it—no capital having been
brought into the concern by the bankrupt, how was it pos-
sible to raise the paper to the condition it has now arrived
at except by incurring certain liabilities, and by applying
from time to time the profits as they accrued in the ex-
tinction of the liabilities, and carrying into effect the plans
laid down for increasing its circulation ? Is it to be con-
sidered that the paper is to be raised by magic to a valua-
tion something like 15,0001. or 16,000/. ? Is that to be
done without liabilities? The truth is that Mr. Young
adopted certain plans as regards the management of a
newspaper which everybody has seen, and which hag been
copied by other papers. I believe he is the person who
first began, and has kept up, the sending off expresses. He
is the person who first began giving the details in a sort
of summary, which now you see in every Evening Paper,
of all the news in the Morning Papers, very much to the
convenience of the readers of newspapers; and now the
affidavits which I did not want read—l did not want them
read because I thought the admission of them was against
the practice of the Court—those affidavits chew that the
circulation of this newspaper in Mr. Young's management
has been increased from about 400 to four anti thirty
hundred copies a day—and indeed that appears from their
own affidavits. Well, then they have been so good as to read
affidavits, as I have said much against my wish, but affidavits
which censiderably make for me, affidavits shelving that Si.
a day for advertisements is received, and that the paper has a
circulation which ought to pro luce a profit yearly of 3,500/.
Why, ray Lord, the truth is that the answer admits a profit
to be made nearly to the same amount. There is nothing
so mistaken as tor my Learned Friends to suppose that we
represent no profit ta be made. To he sure there is no
till-box—there is no drawer into which the pounds, shil-
lings, and pence are thrown, and in which the profit is
contained, but the profit goes to increase the capital ; and
they have not been able to skew even by all their informa-
tion and belief, the misapplication of one single shilling of
this property. There is no charge against Mr. Young of
having misapplied one single farthing of the property,
and when they talk of a debt of 3,000/. I could tell your
Lordship on an affidavit, just as good as the affidavits
they have produced, that one-half of that debt has been
paid off, and that the other half is now in a regular course
of payment. It was a large stationer's debt, but one-half
of it Iran been paid off, and the other half is being regu-
larly liquidated. Wily, is it possible to suppose, that
any man living could increase a newsp per like this, from
the state in which it was, to a state in which it ought to
produce 3,500/. profit a year, without money or credit ?
I have always considered that credit is capital when
rightly applied. If there has not been capital there
must have been credit and talent. There has been
the talent of this editor, there has also been his credit,
and nobody even now is disposed to find fault with him,
nobody has found fault with him, and noboby comes
forward so to do ! Why, I had expected to hear
of the stationer coming into the office for this large debt
of 3,000/. and pressing for payment. I had expected to
hear urgent demands being made for the payment of type.
I had expected to hear of the clamour of creditors on all
liantb, but nothing of the sort. There is not a single
individual coming forward to ask for a single shilling—not
a person asking for a farthing—no statement except that
Mr. Young has raised the value of the three-fourths
of this paper to 15,000/., the whole paper having cost
500 guineas, and they are now complaining that he has
not got a great deal of ready
,money to put into their
pockets ! But, my Lord, one of my Learned Friends who
spoke very sensibly, and I am not disposed to find fault
with his observations, stated what my other Learned
Friend did not think it discreet to advert to. He said
that they were willing that Mr. Young should be at
liberty to propose himself to the Master as the ma-
nager of this newspaper. Why he is already the
manager of the newspaper, and he has managed
it in such a way as to benefit the concern
a refer
(t m o,
not.t o
to the greatest extent. But they desire him to lie
the manager of it under a Master of the Court of Chan-
cery,
whether and
h
e
t o have
is
properly'e yourm Lnaugeidnsghip to
Now anything so absurd I think could hardly be sug-
gested. I don't wish to take advantage of what my
Learned Friend may have stated inadvertently, but I lay
hold of it to this extent, namely, to infer from it that it
athe paper
must have been the subject of convert ttion out of Court.
My Lord, I wish to impress on your Lordship's mind that
Mr. Young is precisely in the same situation now that lie
'has ever been in by the articles of copartnership, and that
he is only now exercising the power which be hat hitherto