The Sun.
London, England, 1841-05-08 00:00:00

cites to lay stress on such statements as' the following—
which arc indeed indisputable :
"At the period when Wilberforce and Clarkson began
their philanthropic exertions against the slave trade, and up
to the period of its abolition in 1807, the utmost extent of the
annual importation of slaves into all the colonies (English,
French, Swedish, Danish, Dutch, Spanish, and Portuguese)
did not exceed 70,000—whereas, at the present moment, the
Spanish and Brazilian possessions alone, whose sugars are now
to be relieved from a part of the existing duties, import annu-
ally no fewer than 150,000 slaves."
All our direct measures hitherto have in no degree
checked the extent of the slave trade—because its ex-
pansion proceeds • from causes which no such measures
can prevent from operating. What we have succeeded
in doing is not in checking the transportation of
negroes—not in preventing the large increase of the
numbers transported—but in very greatly adding to the
horrors and mortality of the passage. That result is
clearly traceable to our African Quixotism. Let us not
be mistaken. We do not say that we have not been right
in washing our hands of the traffic. We do not say that
we have not been right in completing " Abolition" by
" Emancipation." We think, in both cases, the coun-
try has done itself honour though, in the latter
case, the measure is chargeable with all that pre-
cipitate absence of arrangement and caution, cha-
racteristic of measures enforced by popular zeal on
unwilling parties. The nation was resolved on the grand
experiment :it is well it has turned out no worse. How
much better it might have turned out, if it had been
directed even by such a wise Dictator of the negro race
as Toussaint L'Ouverturc—who did not permit the
freedom of his countrymen to mean freedom from work
—how much better the thing might have been done, it
is now of no use inquiring. The people of England
insisted on unconditional freedom, and they have got it.
They have also paid for it, and had therefore a right to
what they deemed value for their money. The ques-
tion now is, how much more than twenty millions
they mean to pay—not for abolishing slavery, for that
they have done, as far as depended on them—but for
the satisfaction of saying that they will consume
no produce of slave labour. Even confining the qucs.
tion to West Jndia produce, they must pay the
price of serious privation to the great bulk of
our fellow-subjects, and of certain p:ejudice to the habits
of temperance, which can only be confirmed permanently
by the cheapness of agreeable substitutes for spirituous
liquors. They must pay the price of compulsory abstinence
from cheap food as well as cheap drink, and the waste of
fruit for want of means of preserving or sweetening.
These are things which may b 2 thenght lightly of, but
can only be so
.by the unreflecting; and certainly not by
Chancellors of t e Exchequer, whether they be Whig or
Tory.

STANDARD.—We little care what may be the effect
of Lord Sandon's resolution, fixed for thin night, upon the
fate of the Ministry. Our readers will do us the justice
to remember that we have never been impatient for the dis-
missal of the Melbourne Cabinet ; and we can declare with
perfect sincerity our conviction, that none, except their im-
mediate dependertts, more anxiously desire than we do that
their political existence have a little further respite.
They have alreidy eff-cted healculable good in de-
veloping the, chtiracter of Liberal politicians and the ten-
dencies of Liberalism ; and they may in the same way ef-
fect still more. No doubt their continuance iu office will
disturb to acme extent the elements of society ' - but as it
has been said, 4• liquors that do not thoroughly ferment
ate never clear: " and we expect from the present
disturbance such a complete defecation of the social
body. that there shall be no space for Liberal Whigs
or Liberal Tories; but that all shall be distributed
into the two C1a5.303 of real Conservatives on one side, or
unequivocal revolutionists on the other. If, then, we look
with anxious hope for a decisive majority in support of
Lord Sandon's motion, a wish that such a manifestation
may displace Lord Melbourne and bit colleagues
has no part in that hope; and we are not quite sure
that such a majority as we hope to sce against
Ministers will have the effect of causing them to
resign, or Even cause them to adhere to their

intention of dissolving the Parliament. As to resigning,
we have proof that nothing but the last extremity will urge
them to that step; indeed, their organs have been lately
calling for Sir Robert Peel to spare them the necessity by
improvisating a budget; aml, as regards a dissolution, it is
quite clear that the grcattr the rm•jority against them in
this their own flouse of Commons, the less their hope cf
success upon an appeal to the Fople. The flame,
we are per-luta-led-3nd our opiniln we know to p.evail
arnorg the parties who ought to be best informed—has, to
ago e.rt degree, its own fate in its own hands. Let L..,rd
Sandun's majority be a decisive one, and Lord Melbourne
hill cot dare to dissolves while Sir Robert P. el, even
sbouiri kr ace that the proper time for taking GfEez has
arrived, have lisle rautive fur agitating the country
by a diasolutice.

MONEY M,IRKE'T and CITY NEWS.

FROM TIIE MORNING ?AIM OF YESTERDAY.
CHRONICLE.—The resolutions of the West India mer-
chante at their meeting on Wednesday present a striking con-
trast to their lamentations ever since the great measure of
ernancipatien teetarne law. Until the Ministers of the Crown
boldly declared for free trade, and for increasing the revenue
by alteriug the tariff,the cry of the sugar colonists has been
that they were utterly ruined, owing to the diminution of the
sui ply, from the withdrawal of slave labour. It hes been
their constant theme that the produce of colonial, and mere
particularly Jamaica sugar, had decreased one-third in come-
quence of the change from forced labour to free, ar.d these is
no doubt that the quantity of plantation sugar grown has fallen
off considerably in consequence, ulthoughltheilanters have been
more than compensated by the rise of price and the 20,000,03('i.
of hard money vaid them. Now, however, when it proposed to
provide an additional supply, and to relieve the consumer
by reducing the protective or differenti,l duty in their
favour, on foreign growth, to ill's. a cwt., the tone is altoge-
ther altered, and they have the effrontery to declare that "this
measure is net justified or excused by any alleged high prim
or inadequacy of supply." The contradict:oils between their
farmer d clarions and present professions are so palpable that
they have attracted general Us:l-cation in mercantile circles.
Both cannot be true; and, indeed, neither is strictly so ; for
although the West Indians were formerly correct in so far as
that the transition from slave to free labour has been attended
with a deficiency of yield, yet there was no gcod cause for their
my of " euin." Now they are dearly asserting that which is
false, in alleging that the redaction of the duty on foreign
growth is nut called:or by the increase of price or inadequacy
of supply.
The tab:es which we publishrd yesterday of the quantities
of sugar imported fur the last four years prcve the falsehood
of their statement, and their own returns of the importations
fir 1839 and 1840 confirm the accuracy of our tables. The
\Vest Indians give no comparison of 1838 wi:h the two last
years, because It would show a still greater deficiency, and they
cunningly avoid all allusion to the great increase cf importa-
tion of foreign, of East India and Mauritius sugars since
1837 ; the quantities imported to the United Kingdom of these
descriptions have nearly tripled, that is, they have increased
from 342,700 cwt. to 805,167 cwt. ; and, notwithstanding
this great addition of foreign growth, the grass importation for
1840 was 446,743 cwt. less than in k 37. Then, as to the
enhancement of price, the rise within the four years
in question has been from 34.7 to 49.1 on British plan-
tation, equal to 15/. a ton, while the sugar revenue for 1840
was less than it was either in 1837, 1838, or 1839. When
these facts are considered—showing a serious falling off in sup-
ply—in connection with a constant increase in our population,
and an enlarged demand, it is evident that means must be
taken to command an additional supply, to prevent a continu-
ance of an exorbitant price for an article of consumption which
has now actually become a necessary of life to the great body
of the Foils.
The impracticable and impolitic opposition raised by some of
the abolition party to the reduction ot the duty on foreign sugar,
upon the ground that it encourages slavery, is now very gene-
ally acknowledged. It is seen that, if the measure is to be
opposed upon moral principles, it cannot be done by
halves. The nation cannot be only partially virtuous ;
we must be entirely so. and deal out even-handed
justice, so as to refuse to hold commercial intercourse
with any country that raises produce by slave-labour.
The enforcement of such a principle would put
a complete stop to trade, and ruin every one having property
embarked in commerce or manufactures. Such being the
palpable absurdity to which the system of exclusive dealing
would bring the policy of the Crown, as proposed by the To-
ries, if fairly and efficiently enforced, it is said that some of the
Abolitionists have given it up, and taken their stand on the less
objectionable principle of calling fur a reduction of the duty
on free-labour sugar. If we had not distinctly seen that the
opposition to the reduction of the duty on foreign sugar, on
the ground that it would support slavery, was based upon a
false principle, and that instead of assisting in the work of
universal emancipation, this country would rather prolong
the disgraceful traffic by refusing to enter into treaties of
commerce with slave-growing States, we would not have
urged free trade opinions with so much determination as
we have done. If the friends of abolition have now adopted a
different ground, and taken their stand for a reduction of duty
on free-grown sugar, we see much less ground for differing
with their tactics. They would treat the subject, by so doing,
in a practieal light, as a question of pounds, shillings, and
pence ; and the only point then to be settled would be whether
the differential duty of 125., proposed in favour of free-labour
sugar, was sufficient, or the reverse, to enable it to command
the market. opinionOebunyrenrnalr npine
rhii
osatrs
tbyi eneo pointtahlel
aalongrntficlreatphi atntl tehnet
produced,e a drup, vor a r
tagsius
andessk7l7 a'nsdPdg
ld
enable them to compete with perfect safety against pro-
duceforeign under the protective duty of 125., while the balance of
supply required to meet the demands of our po pultaattieosn
would, be obtained from the Feast Indies and foreignr States.
We still hole that opinion, considering the differential duty of
P.:s. ample, and shall adhere to it until we see good grounds for
modifying the opinions thus expressed, and which we still en-
tertain in common with many others more venant in the com-
parative cost of production and contingent expenses. A duty
of 361. per cwt. on Brazil sugar, worth enly 21s. 6d., gives
surely an immense protection to Plantation sugar worth
495. ld., and subject only to a duty of 245.
It is reported that certain loan contractors sounded
last week the leading monied interest in reference to a new
Brazilian loan, but that they have met with the most decided
refusal on the part of the most influential capitalists to enter
upon any new bond emission as long as the Brazilian Exe-
cutive does not carry into execution the now so long urged
measure of equalising all the different Brazilian loans, and
1- calling in all the bonds of the several loans contracted for in
this country, mid emitting new bonds of one and the saa e
date in their place. Shouid the Brazilian Government persist
in its apathy in reference to this operation, it vele], find out but
too late of wha,t paramount importance the carrying out this
measure is to the support of the credit of its country. There
exists no doubt in the minds of those must versant in financial
matters, that it would be a futile attempt to try to make a new
loan without the so often receinmened amalgamation, even at
It, or 15 per cent. under the present market price of 69 for the
old stock.
The tea market became agitated this morning
ow
declaration, of Lord John Bassein last night in
the House of Commons as to the recal of Captain) lliott.
Ping St°'of.t—he n
An advance of about 2d. per occurred early in the .day,
the speculators purchasinrriee
sm
ar
se ea
evi-
dently i
tic.u,, as the prepomls, c
p
ghafir.er,eolY•of Theit‘nitproatdcen
for the present season, which
the
The last puLlie document he issued was to the effect
eLey'el b
een atrs Gauguinim ii'e
supply for
have Gen calculated to fa-
vour.that the negotiations were going on "satisfactorily," and the
anticipations of the mere} ants who write in a contrary sense,
to their correspondents in England, are of too interested a
nature to be del ended upon.
Another failure in the silk trade was announced. The
same party (resident in Old B 1 oaci-street) stopped payment
some floes or four years since.
SUN.—The value of Consols this aft erncon was 89/ to 9(1 for
present transfer and 90 to 4 for account. Exchequer Bills were
Bs. to 10a premium, and Inoian Bemis 3s. premium ; Bank
Stock realised 1671, to 169, and India Stock 251, both being
higher. 'Die New Three-and-a•Ilalf per Cents. were at 9.1 A
to 4, and the Reduced Three per Cents. 88 to 8.