The Sun.
London, England, 1849-10-08 00:00:00

AUSTRIAN LOAN.-(THIS DAY.'

MEETING AT THE LON6ON TAVERN. -
A public meeting was held at the London Tavern this
afternoon, at one o'clock, to consider the advertisement
recently issued by the Austrian Government for a loan
of 7,000,0001. sterling, and to agree to an address to the
friends of peace and disarmament throughout the world,
ou the general question of loans for war purposes.
The large room in which the meeting was held was
crowded to excess. Among those present on the plat-
form we observed—Rich. Cobden, Esq., M.P.; Mr. G. W.
Alexander; Lord Dudley Stuart, M.P.; J. Williams, Esq.,
M.P.; Rev. John Burnet; Charles Gilpin, Esq.; John
Marland, Esq.; John Jones, Esq.; John Scoble, Esq.;
Thomas Beggs, Esq.; Richard Barritt, Esq.; Alfred
Rosling, Esq.; J. C. Williams, Esq.; Frederic Tuckett,
Esq.; and Edward Perry, Esq.
Sir. Cobden's appearance on the platform was the
signal for a loud burst of applause.
Mr. ALEXANDER, member of the Society of Friends,
was unanimously elected to take the chair. After
making a few preliminary observations, he said the time
had nearly, if not wholly, passed by, when Governments
would beinble to obtain loans for the purpose of carry-
ing on war, not only in consequence of the impolicy of
the thing, but because prudent capitalists would not
venture their money in speculations so uncertain. It
was an encouraging fact that only a very small por-
tion, indeed, ;of the Austrian loan, as lately adver-
tised in the newspapers had been taken up.—(Hear,
hair, and cheers.) They were called upon on that
occasion not mertly to object to loan, because any in-
vestment in it was attended with risk, but chiefly be-
cause they had reason to believe that it was contracted
for the purpose of carrying on a devastating war in those
countries to which Austria stood in the relation of head.
They objected not only to the cruel system of maintaining
standing armies, but also to a system of loans, which led
to acts of continual aggressions by Governments against
their subjects or the subjects of other countries.
Mr. COBDEN then rose to prepose the' first resolution,
and was received with a loud burst of applause. He
said:—Mr. Chairman and gentlemen, I have to propose
the following resolution:—
That the Government of Austria having proposed '
to raise a loan in foreign countries, capitalists and men
of business are thereby invited to investigate the finan-
cial position of the said Government, and the probability
of its repaying the loan thus proposed to be contracted;
and that it is the opinion of this meeting that no valid
security is tendered, or can be offered, in the present
stale of the Austrian Government, which would justify
prudent men in taking any part of the said loan."
It has, gentlemen, been my privilege to address my
fellow-countrymen as often, and probably at as great a
variety of places, as many men now living ; but I will
say, with unfeigned confidence, that there never was an
occasion when I came before my fellow-countrymen
where I stood as firmly on the ground of justice, humanity,
and sound political economy, as I do at the present
moment.—(Cheers.) Now some have objected to the
course I have taken in this matter on the ground that
I am not adhering to the sound principles of political
economy. I suppose they thought that a very vulner-
able point with respect to one who has said so much on
the subject of free trade. Now I will begin with
that which the enemy consider the strong
ground, and while I say that I have gone
through the length and breadth of tie land
with " Adam Smith" in my hand, to advocate the prin-
ciples if free trade—l say I stand here, with "Adam
Smith," also, in my hand, to denounce not only this
inherent waste of national wealth—not only because it
anticipatesincome, consumes capital,but also on the ground
or injustice to posterity by saddling on our heirs that
which they have ne right to be called upon to
eay on all these grounds, with " Adam Smith" in my
hand, and on his authority, I come hero to
denounce this loan.—(Loud cheers.) But, gen-
tlemen, while I come here to denounce as unjust,
to expose as wasteful, and to demonstrate to be impolitic
the system of lending money for the purposes fur which
Austria wants to borrow, I do noi, confine myself to that.
I do not propose here to advocate going to Par-
liameet to get a law to prohibit men lending
money. I say I come here to try to do
in a humble way that which I have done on the ques-
tion of tree trade—popularize to the people of this
country and the people of the continent the principles
which Adam Smith, y David Hume, M.Culloch,
Montesquieu, and Ricardo, and every man who
has written on the subject have demonstrated
are injurious to mankind and unjust in operation
so long as they are continued.—(Cheers.) I come here
to try to show my fellow•counrymen, in the first place,
that they will do wrong in principle, and do wrong to
society, by lending the produce of their industry
or hard labour to the Austrian Government to be