The Sun.
London, England, 1823-03-05 00:00:00

dents is improper, illiberal, oppressive, vindictive,
and in direct contradiction to the objects of the
establishment, by encouraging the meanest and
most detestable system of espionnage, artifice,
falsehood, and treachery, though softened down
in milk-and-water colours. He confesses the
powers of expulsion intrusted to the masters to
be excessive, and he admits the abuse of those
powers ; and yet, by a strange inconsistency, he
invites the public, in the last pages of his
work, to repose confidence in those very mas-
ters : omitting to touch on the power of selec-
tion, which has no parallel in the jurispru-
dence of Christian Europe, since the abolition
of the Spanish Inquisition ; and entirely •pass-
ing over the late expulsions, as if he had never
heard of such an event, though they belong
exclusively to the professors. The work is an
attempt to soften down the public feeling, weakly
executed, and full of contradictions. If the es-
tablishment be deemed to be useful, it ought to
be continued ; if the rules and regulations have
proved defective, and have led to abuse, they
may be amended ! if the masters have betrayed
ignorance and incapacity in the management of
the pupils, they are unfit for their situations; but
if they have exceeded or abused their powers of
selection or expulsion, to corrupting the morals
and ruining the fortunes If the young men intrusted
to their care, and entitled to their protection, on
trival and inadequate youthful follies, they de-
serve and ought to be dismissed.

[NEW TIMES.]

For some days past, the confident persuasion
that this country will maintain a strict and abso.
lute neutrality has tended to improve our Funds;
and this tendency has been increased by the
cheering exposition of our financial prospects,
which was given on Monday evening by the
Chancellor of the Exchequer. We now find,
that since the war Government has directed its

attention with astonishing success to the allevia-
tion of the public burthen, in every possible way.
—l. It has remitted of annual taxes above
Twenty Millions.-2. It has reduced the Capital
of the National Debt Twenty-five Millions.-
3. It has diminished the annual charge of the
Debt Three Millions.—Under these circum-
stances, wisely resolving to support the public
credit of the country, Government has established
an effective Sinking Fund of Five Millions, which
will annually redeem an equivalent amount of
Debt, while the interest of the Debt so reduced
will accumulate to form such a capital as Mr.
Pitt originally intented. The ultimate destina-
tion of these accumulations is wisely referred to
the future wisdom of the Legislature, They
may be applied, as occasion shall point out,
either to the diminution of Debt, to the remission
of Taxes, or to meet any emergency that may
arise.—The favourable impression produced by
this statement was seen yesterday in the price of
Consols, which closed at 734 for the Account.
As to the objections urged against the M inistet's
plan, they were for the most part founded in utter
ignorance of the very first principles of political
economy. IVe must except from this condemna-
tion the remarks of Mr. Baring ; for although we
differ from that Gentleman as to the proper ap.
plication of a Sinking Fund, yet in his opinion
of the necessity and property of such a Fund we
perfectly agree. The ignorance which we censure
is shewn in such absurd propositions, as " that a
high price of Stocks is injurious to the country"
—that" there should be no Sinking Fund at all"
that " there should be an equitable adjustment
of contracts," thereby meaning " an iniquitous
refusal to fulfil the nation's contract with the
stockholder." It is very true that these proposi-
tions come only from such persons as Joseph
Hume and Grey Bennet, but still they must
not be suffered to pass without reprobation.
Every Philosopher has agreed that a low
rate of interest is favourable to industry ;
in fact, the lower the interest of capital is,
the higher relatively are the wages of labour—
the one is the loss of the rich man, the other
the gain of the poor man ; but Mr. Hume, in his
ignorance, desires that the profit of the poor man
shall be sacrificed to the advantage of the rich.—
A high price of Stocks implies a low interest
of money generally, and a low interest of money
shews that the supply of capital exceeds the
demand. Now the establishment of a Sinking
Fund manifestly tends to produce a high price of
Stocks, and consequently a low rate of interest,
and therefore is beneficial to the poor man and
the debtor. It is said that if there had been no
Sinking Fund we should have been able to
borrow money with equal facility ; but this is an
assumption directly contrary to experience. The
establishment of the Sinking Fund was not only
a pledge to the lender that he would gradually.
he repaid, but it equalized and rendered steady
the money market. There cannot be a weaker
supposition than that we might have borrowed
on as good terms without a Sinking Fund as with
one ; and yet on this gratuitous and nonsensical
hypothesis rest all the declamations against the
Sinking Fund !

DREADFUL ACCIDENT.—Monday afternoon,
about three o'clock, a young man named JAbiES
GOODWRIGHT, who was in the employ of Mr.
WILLIAM Poo n, timber-merchant, of Drury-lane,
while driving his master's team, which was heavily
laden with timber, along the Camberwell-road,
on his arrival opposite Addington-place, he found
it necessary to secure one of the logs, which had
inconsequence of the jerking of the waggon, re-
moved from its situation to the danger of passen-
gers. The poor fellow mounted the front part of
the timber, and in his endeavours to adjust the log
the horses went on, and he was thrown from his
situation to the ground, when unfortunately the
wheels passed over his body ; he was picked up
by some individualS passing by, and carried, in a
most dreadful condition, to his lodgings in
Bowyer's-lane, Camberwell, where every atten-
tion that medical skill could devise was paid to
him, but after lingering in the greatest agony
until yesterday morning he expired. What ren-
ders the accident more melancholy is, that the
uLfortunate decea4d has left behind him itwife
and five small children to lament his loss, and in
the greatest distress.