The Sun.
London, England, 1847-05-07 00:00:00

Obvning

LONDON, FRIDAY, MAY 7, 1847.

Lord BROUGHAM deserves our cordial acknow-
ledgments for the manner in which he forced
the present frightful condition of the money
market once more upon the unwilling at-
tention of Parliament and the Government.
We cordially coincide with the Noble and Learned
Lord, that the interference of the Legislature is in a
peculiar mariner demanded at this juncture, seeing that
the present embarrassments in the banking trade
necessitate the increased exportation of bullion in ex-
change for the cereal produce of the United States
and other corn-growing countries. Were the Bank
of England only restored to its original freedom, the
country would necessarily be relieved from further
anxiety or involvment ; for what is the actual posi-
tion of the commercial world in England at this mo-
ment ? Why, England is in one of those anomalous
conditions which brand the statesmen of a kingdom
with fatuity or incompetence.
6 With eztonsive American orders upon our

cotton and woollen traders—orders such as
would furnish our manufacturing districts with
active employment for a very considerable time
to come—the mills are motionless, and the arti-
zans unable to get work—because of the scarcity
of discount, and the exorbitant per tentage
required. Lord BROUGHAM enforced his remarks
upon this point, by the repetition of the statements
that had been previously made elsewhere, namely,
that the best paper cannot often be cashed even at the
monstrous reduction of twelve or thirteen per cent.
Nay, that sometimes offers of twenty per cent.
for payment of discount have been refused,
in consequence of the timidity arising from
the financial condition of the country. With the
cellars adjoining the Exchange crammed with larger
quantities of bullion than can be remembered to have
been in the possession of the directors for a con-
siderable period, there is the diminution of
value in the Three per Cent. Consols,
there is the difficulty of obtaining discount,
there is the incapacity of paying up instalments,
there is the impossibility of completing foreign
orders upon our manufacturers, and there is the
incapacity of affording employment.
All these gigantic evils spring, moreover, from
a single source ; they all originate, as Lord
ASHBURTON very simply intimated to the House
of Peers, they all originate, without one excep-
tion, in the deplorable Bank Restriction Act of
1844. From the disastrous effects of that very foclish
result of a very foolish hypothesis, come a multitude
of evils such as would have entailed opprobrium upon
any class of men, providing the public were as quick to
detect their pecuniary foes as they are to recognise
their social and constitutional antagonists. From
the enactment of 1844—the notorious enactment of
1844—the enactment nurtured under the Peel-
Loyd auspices—have arisen—stoppage of employ-
ment, unnecessary exportation of specie, en-
tanglement of the monetary affairs of the
kingdom, interference with commerce in
all its multiple branches, and the exceed-
ing and appalling probability of an actual panic.
The financial crisis of 1825 was not preceded by such
ominous fluctuations in the pulse of trade as those
which have latterly aroused the fears of the com-
munity, and which yesterday induced Lord
BROUGHAM to revive the question to the consideration
of the Hereditary Senators. And all these fluctua.ions,
all these sufferings, all these diminutions of confi-
dence, all these malign approximations to the bank-
ruptcy of many thousands of men whose characters
are unimpeachable, and whose fortunes are of un-
doubted amplitude—all these deplorable things,
we repeat it, with a comparative glut of
bullion in the coffers of the Bank of
England! When we say a comparative glut of
bullion, we cannot well be derided, seeing that ac-
cording to Sir ROBERT PEEL'S enactment, the Bank
of England is at any moment in the risk of being
left with merely 2,500,000/. disposable issue, whilst
it has 10,000,0001. in its cellars. We cannot
tire of repeating our abhorrence of a plan by
which this vast commercial country is placed
in perpetual danger for the bald satisfaction of grati-
fying a diseased whim. Literally, the scheme, under
the penalties of which the market is at present
groaning, is the tying of metal about our heels
to enable us to keep afloat ! Precisely
when credit money is most wanted, it is restricted in
amount; when it is little better than a superfluity it
is lavished about in abundance. Assuredly Lord
ASHBURTON was justified in stigmatizing the course
adopted by the late Administration as equivalent to
the perseverance of the doctor in " Gil Blas," in his
undeviating remedies of hot water and phlebotomy.
Assuredly the Act of 1844 is about as judicious as a
prescription penned by SANGRADO. And little pre-
ference can there be between the dreamings of LE
SAGE or the obstinacy of Sir ROBERT PEEL.

What we feared has come to pas;. Noble Lords,
hostile to an efficient poor-law for Ireland, could
not, in the face of the frightful scenes of misery
and destitution that are of daily occurrence in that
unhappy land, venture to meet with a direct ne-
gative a measure intended to afford relief to the
sufferers—a measure, which affirmed the great
principle that the poverty of the country had a
right to relief out of its property—a measure
which declared that henceforth no man should
be suffered to die of starvation in a Chris-
tian land, and that the necessities of all
should be provided for before any portion could
be made applicable to luxuries or superfluities.
These Noble Lords, however, have attained their
object indirectly, and by a side wind. One of
themselves (Lord ABINGER), after stating that
the principle of a poor-law, at all times dan-
gerous, was peculiarly so in Ireland, advised that they
should not reject the measure altogether, but so
modify it as to deaden its effects. The recommendation
of the Noble Lord has been acceded to. The effects
of the measure have indeed been deadened. As Lord
Guar truly remarked, " the great experiment must
now be made under every possible disadvantage," un-
less theft Lordships recal their fiat, as it is still possible
for them to do, and unless the representatives of the
people refuse to accept the Bill in its diluted and
emasculated form.

The Noble Secretary for the Colonies spoke out
boldly and manfully in defence of the measure.
He pointed out that the great principle had for three
centuries been recognised in England, and that he was
prepared to recognise it—not for three years only—
but permanently in Ireland. And in that he is
sanctioned and confirmed by the unanimous voice of
the British people. Are we prepared to encourage
what has too truly been termed " The Irish Invasion ?"
Are we prepared to permit the Irish landowner to
withhold from the people born on his estate that which
the more humane landlord of England extends even to
the casual poor? Here every destitute person is
entitled to relief in or out of the workhouse.
If that relief is practicable in the workhouse so much
the better, but under any circumstances it must be
afforded whenever it is required. But in Ireland
however urgent may be the necessity, however
pressing the demand, it cannot legally be given if
the workhouses are full. The starving wretches
may sink and perish at the very thresholds of the
poorhouses, but they cannot be permitted to receive
one solitary meal until room is made for their admis-
sion into the house. Is this legal obligation
to maintain the poor of Ireland only to commence
when they arrive in this country ? Most assuredly
not ! Such a system is not compatible with the con-
tinuance of a free intercourse between the islands.
If persevered in, we must be contented to take upon
ourselves the duties which we permit the landowners
of Ireland to shirk. We must be satisfied to feed
the hungry, and to clothe the naked, in that par
of the United Kingdom, at the expense of British
industry. We are willing to render every assistance
to the landlords who are disposed to exert themselves
properly and efficiently. We are willing to pledge
the national credit in order to procure these means
for the improvement of their properties, the ade-
quate employment of the labourer in useful and
profitable works, so that the capabilities of their
country may be fully developed, and their
lands brought into the highest degree of culti-
vation and productiveness. We will assist those
who endeavour to aid themselves, but we will not
assume the burdens from which they have shrunk,
or the post from which they have deserted.
Already the measure is, perhaps, of too restricted
a character as to the power of affording out-door
relief. It is only when satisfactory proof is given
to the Commissioners, that by reason of the want of
room in the workhouse adequate relief cannot be
afforded them, or if by reason of severe or infectious
disease it is unfit for the reception of poor persons,
that it is lawful for the Commissioners, by order under
their seal, to authorise and empower the guardians
to administer relief out of the workhouse, for a time
not exceeding two calendar months, and that relief
cannot be given to the able-bodied, save in food only.
Surely this might satisfy the most cautious. They
cannot suppose that the Commissioners would
wantonly abuse that power, or that they would au-
thorise that out-door relief save in cases of
the utmost urgency. There is still an
opportunity for revising their decision. On
the bringing up of the report, the measure
may he restored to its origil al form. if not, we
trust that the House of Commons will be firm and
unyielding, and that they will not suffer that which
was carried by an overwhelming majority in their

House to be afterwards frittered away and deprived
of its efficacy. If a collision should take place, we
warn the Irish party that on the next occasion a much
stronger measure may be sent up which cannot be
refused or weakened, but must be adopted in its in-
tegrity.

Madrid journals of the 30th ultimo contain ac-
counts of an interview which had taken place be-
tween her MAJESTY and the Count DE CASTILLAN,
when the latter had presented to ISABELLA a memorial
from her cousin, the Infante ENRIQUE. The QUEEN
is described as having received the document very
graciously. Pope Pius IX., it seems, has expressed
his disinclination to permit the solemnization of the
marriage of his Royal Highness until such time
as he has elicited the approbation of her Spanish
MAJESTY.

The Duke DE SAN LORENZO had been appointed
Captain• Genera of the Halberdiers, the Duke DE
BAYLEN having resigned that post. The Ministerial
combination under the personal influence of General
NARVAEZ had failed, and the General was to leave
for Paris on the Ist instant. It was still believed
that the Parliamentary labours would be suspended
during a fortnight. The Gazette publishes a royal
decree confirming the authorization granted by the
Cortes to the Ministry to collect the taxes until the
latter end of June.

The Three per Cents.were done at 31i for cash ;
;he Five per Cents. at 194; the Debt, without in-
terest, at 511-, ; and the Coupons at 16.

The Paris papers of Wednesday have arrived.

Attention is altogether engrossed by the explana-
tion given on the preceding forenoon in the Chamber
of Peers by M. TESTE in extenuation of the conces-
sions made by, him in regard to the mines of
Goubenans. Nearly all our French Contemporaries,
without exception, speak in the most condemnatory
terms imaginable upon the course pursued by the
lion. Gentleman in that matter ; but we cannot but
regard their adverse observations as premature in
utterance, and as too vituperative in tone. Of all the
papers published on 'Wednesday the commerce
speaks of M. TESTE in the discreetest manner. "We
think it unbecoming us," it says, "to pronounce a
definitive opinion upon the merits of explanations,
which are destined to furnish an important document
in a judicial discussion." According to the Consti-
tutionncl M. TESTE, who was Minister of Public Works
at the period when the concessions were granted to the
company in which Gen.CUBIERES was interested, pro-
tests most solemnly and emphatically, that those con-
cessions were made in accordance with all the cus-
tomary forms, and with the strictest integrity.
The National speaks out pretty plainly however,
and with something like a show of contempt for the
protestations of the lion. Gentleman. It says as
follows :

" The concession of a mine, according to M. Teste, is the
ministerial act in which the personal influence of the chief
of the Administration is the least possible. Everything
passes without his interference, according to certain pre-
cise regulations by which the rights of all are protected.
These rules have been followed, and these rights have been
fully respected in the matter in question. This is all that M.
Teste knows ; the rest, as far as he is concerned, being
enveloped in mystery. Such is an analysis of the
speech of the late Minister of the Public Works.
It will be at once conceived that we are bound
to keep the greatest reserve as regards him until
the facts are made known. We shall make only this
general observation, which appears to us to be important:—
M. Dumon and M. Tests have both greatly exaggerated
the purely negative part which they represent to be played
by the Minister in the concession of mines. Were we to
listen to them, we should believe that everything was done
without his meddling with it, and that the responsible chief
of a Ministry had nothing more to do than to sign his name
at the foot of the report or the ordonnance. This, in truth,
is lessening somewhat too much the action of the man in
power, in order that he may be relieved from responsibility,
and such a proceeding is not founded in law or in fact. In
each step of the official ladder the Minister has a decided in-
fluence. lie may suffer to sleep or expire any application for
a concession ; he may choose any engineer he pleases for in-
spector; he may accept a report or order it to be reconsi-
dered; it cannot be denied that his voice has weight in the
Council of Mines, over which he presides, and in the deli-
berations of the Council of State. It must be admitted, on
the other band, that none of these formalities can be con-
summated without his direct participation. Not only is this
legal, but it is necessary ; for his responsibility is involved in
all;the resolutions come to by the Ministry. Let it not,
therefore, be asked with such singular simplicity, where is it
that favour can be exercised or corruption creep into this
series of operations? The answer is ready enough :—Favour
may be exercised from the first to the last day, and corrup-
tion is a subtle poison which may penetrate every part. Let
then this pretended improbability be laid aside, for it will
not bear the slightest examination. Let us wait then till
M. de Cubieres can give his explanations before we decide
whether he is to bear all the odium of this affair, or whether
it is to be divided."

The Courrier Francais contains the following re-
marks :
" The shameful affair of the mines of Goubenans, in which
the morality of the whole Government is profoundly com-
promised, was yesterday the subject of all conversation, and
gave rise to strange commentaries. We exaggerate nothing
in saying that it is a fact which compromises the honour of
the Ministers more than anything that has occurred since
1830. M. Teste, Minister of Public Works i❑ 1842, could
not dispense with ascending the tribune of the Chamber of
Peers to offer explanations. It must be stated that he was
heard with extreme coldness, and that his brother was the
only one to advance towards him and press his hand when
he descended from the tribune. When M. Teste affirms that
he remained a complete stranger to the practices employed
to obtain the concession in question, we are entirely dis-
posed to believe him ; but when he declines all responsibility
in an act which occurred under his administration, we be-
lieve that he is strangely mistaken in the sense which he
attaches to ministerial responsibility."

In addition to the interest excited by the statement
made by M. TESTS, in the Chamber of Peers, the
political circles of Paris were agitated by a rumour,
insinuated by the Presse, that nearly half-a-dozen
members of the Cabinet had intimated their intention
of withdrawing from the Administration. This it is
which causes that organ to observe that the Ministry
at present holds but a nominal existence.
In the Chamber of Deputies M. BILLAULT availed
himself of the opportunity afforded by the renewed
discussion upon the Supplementary Credit Bill, for
inveighing against the Government for its lavish ex-
penditure in reference to the foreign department.

The Prince of SYRACUSE had reached Paris on a
mission, so it was reported, from the Neapolitan
MONARCH to Queen CHRISTINA.

Wednesday, the sth instant, being the anniversary
of the death of NAPOLEON, a solemn funeral service
was performed in the church of the Invalides ; and
the bodies of Marshal BERTRAND (his com-
panion in exile) and of Marshal Duaoc (his
most beloved adherent and Grand Marshal to the
Imperial Palace) were buried in tombs adjacent to
the sarcophagus of the Emperor.
The Three per Cents. closed on the Paris Bourse on
Wednesday at 78f. ; the Five per Cents., 115 f. 75c. ; the
Orleans Railroad Shares, 1,2350 ; Rouen, 943 f. 75c. ; Havre,
666 f. 25c ; Great Northern, 611 f. 25c. ; Avignon, 7651. ;
Vierzon, 582 f. 50c. ; Bordeaux, 513 f. 75c. ; Basle, 1931.
75c. ; Dieppe, 327 f. 50c. ; Paris and Strasburg, 427 f. 50c. ;
Tours and Nantes, 4161. 25c. ; Paris and Lyons, 439 f ;
Lyons and Avignon, 452 E 50c. ; Domestic Debt, 30%.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, MAY 6.

Boulogne and Amiens, 16%e—Central of France (Orleans
and Vieraon), 14%—Demerara, 23/4—Dutch Rhenish, 3 %
—Namur and Liege, VA—Northern of France, 11 —Paris
and Lyons, 4%—Tours and Nantes, 134 West Flanders, 3;3.

THE COURT.—Her Majesty and Prince Albert, and
the Ladies and Gentlemen of the Court, left the Nine
Elms terminus of the South-Western Railway, soon
after half-past nine o'clock this morning by a special
train for Gosport, en route to Osborne House, Isle of
Wight, where her Majesty and her Royal Consort are
expected to remain a few days.

THE LORD-LIEUTENANT OF
IRELAND.

D cram? , MAY s.—His Excellency has made another rally.
The bulletin issued at ten o'clock this morning was as
follows :
" His Excellency has passed a good night, and is much
better this morning."
No other bulletin was issued up to post hour, and the an-
swer to inquiries at the Castle was that his Excellency con-
tinued to improve.
The Mail of this evening says--
" But whilst the general course of his Excellency's illness
forbids us to encourage the expectation of his eventual re-
storation, it gives us sincere satisfaction to be able to an-
nounce those occasional mitigations of his complaint, which
give immediate ease to the noble patient himself, and in some
measure relieve the paisful anxieties of his affectionate fa-
mily. We are quite sure that if his Excellency's skilful
and considerate medical attendants were able, from
the the symptoms that have marked the progress of his
case, to relieve the anxiety so prevalent on the subject
by a favourable prognosis, they would not have failed to do
so. We cannot, therefore, but regard their long-continued
silence on this point as a disastrous indication, and lament it."

Loss OF THE TWEED.---A subscription has been
commenced for the purpose of repairing in some degree the
sad losses of the sufferers by this awful calamity. The ap-
peal thus made appears to receive an appropriate response,
and promises to produce results alike creditable and satisfac-
tory to those who promote it, and beneficial to the indivi-
duals who are placed in the melancholy necessity of requiring
such an interposition in their behalf. The subscription list is
headed by the names of her Majesty and her illustrious Con
n-
sort, who are donors of 201., the Queen Dowager contributi
25/. Amongst the other sums contributed for this benevo-
lent purpose are 2001. from the West India Mail Steam
Packet Company, 100/. from the surviving passengers of the
Tweed, and 201. tram the engine-rs of the Royal Mail Steam
C.A.iyany•
inewber of the Senior UuiteLl Set vice Club
'ltiecontemplate a grand entertainment to Major-General Sir
Harry Smith, to celebrate his returralOhle,at their handsome
club-house in gall-mall,