The Sun.
London, England, 1841-05-01 00:00:00

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LONDON:
SATURDAY, MAY 1, 1841.

The announcement made last night by Lord
JOHN RUSSELL, that he would, on the first Order
Day after Whit-Monday, move for a Committee
to take into consideration the Acts relative to
the trade in Corn, took the House of Commons
apparently by surprise, and will be hailed with
delight by the country. It was one of the prin-
cipal features in the discussion which ensued
on the Budget, and the taunts which were
thrown out against Lord MELBOURNE, against
the Government, for seeking some covert objects,
and against Lord J. RUSSELL for not at once ex-
..plaining his whole plan, makes it plain that for
the Government to take up the Corn-law as a
Cabinet question annoyed the Tories more than
it astonished them. They know they cannot
maintain their monopoly when the Government
declares against it, and they are deeply
wounded by the proposition being made.
In the course of the evening Lord JOHN
RUSSELL, in order to gratify the impatience of
the landed r-entlemen for information, announced
that the intention of Government is to propose
a moderate fixed duty. We will at once say that
such a duty does not meet the views of the
League, nor correspond to the justice of the case.
Our opinion is that it would be far better for the
agriculturists themselves at once to sweep away
all the protecting and fiscal laws on provisions of
all kinds, and that by so doing the State would
obtain a greater revenue, by all the taxes
yielding more, than it will gain by any tax
on bread. W e remain, therefore, firm friends
to the total and immediate abolition, but
we, nevertheless, give her Majesty's Ministers
great credit for undertaking to deal with the
question on the only basis probably on which
they can hope for success. We argue for justice;
they must consider what they can accomplish.
This announcement by Lord John RUSSELL
was a happy prelude to the Budget of the
CHANCELLOR of the EXCHEQUER, which was
brought forward immediately. afterwards. Its
contents may be told in few words. The revenue
is below the expenditure more than 2,000,0001., and
must be increased. We should like that an attempt
were made to curtail the expenditure. Warned
apparently by the failure of the increase of taxes
last year, the CHANCELLOR of the EXCHEQUER
essays this year to add to the revenue
by an alteration of taxation. The Minis-
ters propose to undertake the revision of our
commercial system ; they are to begin a trade re-
form ; and they look for an increase of revenue
by raising the duty on colonial timber 10s. the
load, and lowering the duty on foreign timber
15s. the load ; by lowering the duty on foreign
sugar from 635. the cwt. to 365. the cwt., and by
substituting a moderate fixed duty on corn for
the present fluctuating scale of duties. The
statements as to the amount of the revenue,
though calculated to excite unpleasant feelings,
were in a great measure lost sight of through
-the discussion, which occupied the House all the
evening, by the intense interest felt in the pro-
posed alterations. Last year an addition to the
taxes did not add to the revenue, this year it is
proposed to try the effect of a diminution of the
taxes, and we trnst that the CHANCELLOR of the
EXCHEQUER will not be disappointed.
We cannot now offer a summary of the de-
bate, or make many comments on it. We can
only say that we regard it as by far the most
important, as well as the most interesting dis-
cussion which has taken place during the
Session. Now, indeed, the real business of
the nation is beginning. The sham business,
the, fights of faction, must come to an end, the
revenue must be provided, and its sources begin
to dry up. Accordingly, amongst the many
statements that were made to the House, none
seemed to have a more quieting and impressive
effect than the assertions of Mr. M. PHILLIPS,
that he had never known our manufactures so
dispirited as at present, and that they were
talking of shutting their doors and retiring from
business; and the assurances of Mr. LABOU-
cHERE that the merchants and manufacturers were
deeply, quietly, but most intensely in earnest.
The Right lion. Gentlemen said in substance,
the House would deceive themselves if they
thought that the demands for an alteration in our
fiscal regulations were the results of the inquiries
of the Import Duties Committee, or of any
temporary excitement by orators; they were the
result of deep and calm conviction, the fruit of
many painful facts. Such statements, proceed-
- frora authority, will be as unharmed by
the quibbles of GOULBURN, the taunts of
Sir R. PEEL, the interested questions of Mr.

AFRICA.
BONA.—The mail from Constantine arrived on the Bth,
with news which has producedan extraordinary sensation here.
The following are the particulars which we have learnt :
On the morning of the 2d of April, General Negrier had
caused eight Arabs to be beheaded who had been condemned
to death for assassinating some French soldiers. Great terror
prevailed in the city. The Arabs were condemned and exe-
cuted, as our letters inform us, within 24 hours. But the most
extraordinary fact is without contradiction, the condemnation
of the famous Ben-Aissa, Knight of the Legion of Honour, to
20 years' hard labour, having been accused and convicted of
coining base money. This important chief is namedthe "Ser-
pent of the Desert," and whose son was sent to Paris soon after
the taking of Constantine, has been degraded and sent to
Toulon, were he is to undergo his punishment. His beard
has been shaved, a punishment a hundred times more painful to
an Arab than 20 years' imprisonment and hard labour. The
operation took place in presence of an immense crowd, and in
this state the prisoner was conducted through the city.
It was reported at Toulon, on the 23d, that the Etna, which
brought this news, had Ben Aissa on board. Our Correspon-
dent cannot answer for the fact, not having had time to inquire
into its truth.
We have letters from Algiers of the 20th instant. General
Bugeaud had made every arrangement that (except bad weather )
nothing might delay the departure of the expedition, fixed at
first for the 21st, then put off to the 22d, and which may be
yet further delayed if the rain should not cease. It was ge-
nerally believed at Algiers, on the ground of news from the
interior, that the revictualling of Milianah would give occa-
sion to some important action between our troops and the
Arabs. It is said that the Emir is collecting a consit,crable
force at that point.—Le Commerce.
130 U K6II:•—PARIS, WEDNESDAY, APRIL 28.
First Highest Lowest Last
Price Price. Pricy Price
French 5 per Cents ll3 65 113 15 113 40 113 40
4 per Cents 99 e 5 .. 99 2S ... tlll 25 99 25
3 per Lents 79 10 ."h 10 ... 79 05 79 Oa
Bank of rrance 3190 ..3190 ...3185 —3185
Lattitte &us. I dout. Stares- 11.1b5 „JOS°
5,0001. Shares 5157 50 ...5157 5,1 ...5157 50 ...5157 50
Helper, !Sank
1841 ...
Belgian 5 per Cents.
New Loan 11,1% ... 1 1% ... 10s RI%
Spanish Active 1.4% ... 241%j ... ... qc;
Passive 553g ••• 5% 554
Neapolitan
Roman
RAILWAY SHARES.

St. German.
Versailles,R. B 267 50 ... 367 50 ... t 67 50 ... 367 50
L. 11..- .....
Rouen ........ .. ....... ............. 457 50 ... 4:4 5,:... 4:.7 5n ... 457 50
Orleans 1 .... 45,, 75 ... 488 '75 ... 468 75 ... 468 '7.i
Strasburg to Bale
BELGIAN 1, UNDB-13at.roxi.i, APRIL 2i.
Actual Debt, 2S per Cent.
Rothschild's Loan, 5 per Cant 10.)34
Loan of Thirty Millions, 4 per Cent. 92
- 3 per Cent. —
__ .. 70%
__-------(1 40) lO%
Loan of City, 1632, 4 per Cent Bl%
Society at Commarce, 41.4 per Cent lOO
Bank of Belgium, 5 per Cent .. 70%
National Society .
Exchange on London (short)
—Brussels Papers, April 28.
AUSTRIAN FUNDS.—Viallia, Agalt 20.
Flyeper Cents. Metalliques - 167%
Four per Cents. Us%
Three per Cents. ........ .. ... : .............. ................ 77%
Bank Shares 1657
..-411gemeine Zeitung. April2s
HAMBURG BOBSENHALLE, Ara Bills.
l Money
Austrian 5 per Cents.
Anglo-Russian Loan 10,14 RA%
Russian 5 per Cent, Ist series, Certificate
Inscription, Ist Selias 162
Russian 5 per Cent. Hope and Co. 3d and 4th
Series rii, 9T
Ditto in Certificates
New 4 per Cent. (1540) Bi % 1-,7%
Dutch Actual Debt, 2s pe, Cent 51% 51%
Ditto 5 per Cent
Polish Bondi
New ticket
Anglo-Danish Loan, 3 per Cen"
NAwegian Loan, 1834, 4 per Cent... —
Spanish, New 5 per Cents. 16%
EXCHANGES ON LONDON.
HAMBURG, APRIL 27.-13 63i.—Two months, 13 5
STOCKHOLM, Apart. ,o.—Seventy-five days. 11. 47.
PETERSBURGH, APRIL 16. --Two months, 38 pence.
VIENNA, APRIL 17.—Three months. 9. 45.

Thirty-avven.

The Madrid Papers received are of the 21st
inst., but they contain no news of the least mo-
ment. Those who were for the sole Regency of
ESPARTERO were spreading the most absurd
rumours of the arrival of CABRERA in Spain. On
the Bourse the Fives were at 26 for cash and
261 at 60 days.

The " Commercial" Marine Assurance Coin- '
pany have issued a prospectus, stating their plans
for rendering the marine policy of the British em-
pire more efficient, and placing it, also, on a more
humane footing. It will be seen from this, that
on taking insurances they admit bona fide the
seaworthiness of the ship, which, therefore, un-
der no subsequent contigency will become the
subject of litigation ; that disputed claims, in or-
der to save both parties needless law expenses,
may be decided by arbitration ; and when ships
insured by this Company render aid to vessels
in distress, this act of humanity will not be con-
sidered a deviation. It appears to us that mu-
tual aid of this kind, as is the practice of In-
surance Companies against fire, would be a vast
improvement on the present system. This regu-
lation is contained in the last clause, which
ap-
pears opportunely at the present moment, when
the public are so warmly interested in the fate
of the-President steamer. . The .Coinpany, have