The Sun.
London, England, 1849-03-23 00:00:00

strength at Constantinople the Bosphorus will con-
tihue open on °I-41mq occasions P.,) our rn..,rchandi--(.,
and to our vessels of war on any sudden emergency.
These facts are not only recognised universally, but
a general conviction impresses upon the nationnl
heart the certainty that so soon as the Divan is re-
placed by a Russian Pro-Consulate, that so soon as
the SULTAN is superseded by the ,EMPEROI, that so
soon as Constantinople is declared to be sub-
ordinate to St. Petersburgh—the Bosphorus
will be impervious, to our ships of war,
a profitable market will be closed against
our manufactures, and our merchandise will
be obstructed in its passage to Persia through the
channel of the Dardanelles. Everything unites to
show that the integrity of the Ottoman empire is
essential to the prosperity of England, to the pro-
gress of civilization, to the maintenance of freedom,
and to the peace of Europe ; and everything unites
to demonstrate in like manner, that the integrity of
that great empire is threatened —is not only
threatened, is actually assailed—by the formidable
despotism of the AUTOCRAT. The aggression of
Russia is proclaimed alike by the activity of the
Sublime Porte in the armament of the fleet and in
the advance of the military forces towards Wallachia ;
it is asserted by the harsh decrees of the CZAR, and
by the cries of torment which are rising day by day
louder and louder from the population of Bucharest,
calling to Heaven for vengeance, and to England for
vindication.

Nothing can be more glaring than the recent
aggressions of Russia, and nothing, we lament to say
it, can be more undecided than the attitude which
under the circumstances ,has been assumed by
England.

" When that great master of eloquence, EDMUND
BURKE," said the new Lord Rector of Glasgow,
" stood in the place where I now stand, he fal-
tered, and remained mute ;" doubtless the multitude of
feelings and thoughts which at that moment rushed
upon his mind were such as even he found it difficult
to arrange and to express. With Mr. MACAULAY,
however, the same situation produced a very different
effect. The past history and the future prospects of
the University of Glasgow kindled his enthusiasm as
an historian, and evoked his eloquence as an orator.
The inaugural address of the new Lord Rector of
Glasgow is worthy of the eloquent historian of
England. We will venture to say that no member
of the University, from the Reverend Principal
down to the newly-elected student, listened to
that address without increased sentiments of
veneration for the society to which he belonged,
and increased anxiety to render himself individually
mere worthy of being its member. It so happened
that the occasion of Mr. MACAULAY'S address was
the four hundredth anniversary of the existence of
the University. This circumstance presented an op-
portunity for reviewing the past annals of the society,
of which opportunity the historian availed himself con
amore. The theme was, indeed, admirably suited to the
orator. It transported his imagination to times on
the memory of which he loves to dwell, and the great
events of which no one is better fitted to chronicle.
"I doubt," said Mr. MACAULAY, "whether it would
be possible to name a point of time since the Chris-
tian era more remarkable and more important to the
highest interests of mankind than that at which this
society began to exist. It was an era of a
great destruction, but also an era of a
great creation. Your society began to exist
just at the moment when the empire of the East was
falling—that strange empire, which dragging on a
lingering existence through the long age of darkness,
connected together two great ages of light—that
empire, which adding itself nothing to our stores of
knowledge, yet preserved in the midst of
barbarism those monuments of Athenian genius
which the highest minds still contemplate
with admiring despair." But at that very moment,
in a distant part of the world, " a few humble Ger-
man artizans, who little knew they were creating a
power, compared with which that of the victorious
SULTAN was insignificant, were busied in cutting and
setting the first printing types. Your society began
to exist just early enough to see the last vestige of
the Roman empire disappear, and just late enough to
see the earliest printed book." We refer our readers
to the speech of Mr. MACAULAY, which appears in
another column, in which the past history, not only
of the University of Glasgow, but of Britain and of
Europe, during the last three centuries, is admirably
epitomised in that

" Pomp of period, glittering as it goes,
High from the mount, but labouring through the
mines,"
for which the "resplendent D&YDAS" is so remark-
able.

After enumerating the different phases of society
and civilization which have marked the three
centenary anniversaries which the University
has already witnessed, Mr. ALaceuLAT hopefully
prophecied yet greater things for the next hundred
years. He is not one of the mourners over the
degeneracy of the times. " Since first I began
to observe the state of my country," he said,
" I have been seeing nothing but growth and
hearing of nothing but decay." Hence he ventured
to predict that his successor, in 1949, would find oc-
casion to congratulate his hearers on the
events of the coming century ; and added
Mr. MACAULAY, "He will, I hope, feel
himself bound in justice to mention with high
honour the names of some of my young friends who
are now listening to me !" No wonder that loud and
enthusiastic cheers responded to this aspiration.
Here, indeed, is a stimulus to exertion on the part of
the students of the University. "Auch' io son pittore"
was the exultant exclamation of the Italian
painter, on contemplating a master-piece of
art—" and I also," may exclaim some ambi-
tious student of Glasgow—some incipient WATT,
Or ADAM SMITH, or ROBERTSON-44 I also may have
my name chronicled at some future installation by
some future MACAULAY." Thus as a retrospect of past
glory, and an incitement to future genius, the ad-
dress of the Lord Rector of Glasgow was worthy of
the occasion and of himself.

In the observations which we yesterday offered on
" The Budget for the Million," we only referred to
the three principal propositions advanced by the
talented writer, viz.:—

" Ist. That it is discreditably dishonest to the
owners of realised property not to pay off the National
Debt.

" 2d. That it would be very easy for them to pay
off; and
" 3d. That it would be profitable for them to pay
off."

We showed that he considered it both just and
politic that the annual expenses of the Government
should be provided for by indirect taxation, while the
national debt should be liquidated by the owners of
accumulated and realised property.
As to the amount of the annual expenditure, Mr.
WAsoN adopts the views laid down by the Hon.
Member for Glasgow, rather than those of the Hon.
Member for the West Riding. He declares that he
is not " one of those who would diminish to a very
great extent our naval or military force." lie would,
of course, reform the abuses that have gradually
arisen in the administration of the establishments. He
would economise where it could be done with-
out weakening the efficiency of our forces. He
would give greater facilities for the promotion
of deserving subalterns, but he would maintain a well-
appointed force, as he looks upon it as " the best
possible guarantee for the inestimable blessings of
peace." He, therefore, allows the same sum for the
Naval, Military, and Ordnance establishments, which
the Honourable Member for Glasgow calculated to be
sufficient, via., 14,250,0001., and for civil expenses
(exclusive of the cost of collection), 6,430,0001.
The collection of revenue he estimates at 1,000,0001.
sterling, exclusive of the Post-office, which he be-
lieves, would be amply sufficient for the purpose,
inasmuch as all the items under the head of taxes
would be completely abolished, and the whole of the
Excise, with the exception of the duty on spirits.
The Customs, too, would be limited to some half-
dozen articles. So that, on the whole, he considers
that in allowing 1,000,0001. he has made a propor-
tionately higher estimate than Mr. .MACGREGOR.
The several charges to be provided for would then be:
Navy, Army, and Ordnance £14,250,000
Civil Expences .. ... ... ... • • 6,430,000
Collection of Revenue ... 1,000,000

Total ... .. ... .. £21,680,000
to which must be added the annuities for lino and