The Sun.
London, England, 1847-12-31 00:00:00

itceninit

LONDON. FRIDAY, DECEMBER 31, 1847.

President POLK has again shrived himself to the re-
presentatives of the United States, as will be observed
by the enormous document published in another part
of our impression. By reason of the elaborate nature
of his explanation, and of the multiplicity of matters to
which it has immediate reference, we shall be exone-
rated from any inclination to treat the Speech with
unbecoming indifference if we content ourselves,
for the present, with giving merely a rapid synopsis
of its character. After an unusual gorge, even the
boa-constrictor requires something like a fortnight
for digestion. How much time, therefore, is not re-
spired for the digestion of matters so very nearly
indigestible as the arguments and representa-
tions of President JAMES K. PoLix! After the
abrupt and sententious addresses delivered to
the legislators of Europe by the different constitu-
tional Sovereigns, the mind is almost bewildered by
the garrulity of the prolonged narrations annually
received from America. Leisure and meditation are
essential to weigh with proper scruple the various
schemes unfolded by the Chief of the model republic,
and more particularly is this the case when those
schemes are of such peculiarly questionable morality
ars those which were vindicated on the 7th instant
before the Congress newly assembled at Washington.
As might readily have been anticipated, the prin-
cipal portion of Mr. PoL"S harangue is de-
dicated to the most daring and certainly
the most reprehensible adventure undertaken
during his Administration. We mean, of course,
the adventure against Mexico. In the PRESS-
DENT'S Speech the whole history of the invasion
of that territory, beginning with the forced marches
of General TAYLOR upon Monterey, and terminating
with the capture of the capital city, and the entrance
of the conquerors into the palaces of the Monte-
Pumas, is recounted with an admirable exactitude ;
andtheunsuccessful negotiation:of theYlenipotentiary,
11r. TRIST, i 3 afterwards defined with considerable
emphasis and lucidity. Whatever may be thought
of the justice or humanity of the PRESIDENT, in
attempting the subjugation of a neighbouring
and inoffensive republic, we will acknowledge that
his strictures upon the policy of this movement are
candid and plain-spoken. There is 'no blinking the
truth ; there is no evasion of the reality ; there is
none of that sophistical reasoning which would have
characterised the address of a GuizoT or a METTER-
NICH under similar circumstances. Air. POLK speaks
home—bluntly, boldly, and (upon that point) with
becoming brevity. He reminds Congress, and through
Congress the whole population of the United States,
that a vast expense has been incurr,A in consequence
of the incursion made into the Mexican ,

dominion—that a national debt has, in fact, been

fairly saddled upon the Republic—that, with the ac-
cumulation of these liabilities, the arms of their brave
soldiers have everywhere triumphed—and that, con
sequently, it is both expedient in a pecuniary sense,
and possible in a military one, that the United States
should receive compensation for the expenses conse-
quent upon the war by the negotiation of a peace with
the violated country, and by the acquisition of
those portions of it which are contiguous to
the American boundaries. The meaning of
this is plain enough in all conscience. The
invasion was made with the intention of aggran-
dizing the United States by the spoliation of the ad-
jacent • soil. A quarrel was picked with Mexico
with the determination of reaping a territorial ad-
vantage from the encounter of powers so dispropor-4
tionately matched. The pretext of expense and
indemnity was foreseen from the very commence
meat, and now that the invading forces have pro-
ceeded so far in their victories the ultimatum of the
plan is divulged. The Rio Grande is to be the
6-ontier line between the two republics reaching to
about thiey- two degrees north latitude; right of way
is to be insured acro,s the isthmus of Tehuantepec;
and the United States are to be increased by the
cession of the whole of New Mexico and California.
What modesty and moderation ! The whole of New
Mexico and California! Is it surprising that such
gt.nerous conditions have been hitherto refused by the
Mexican Government ? And is it not a most rational
conjecture that the avarice and cruelty of the ag-
gressors imay ultimately drive the countrymen of
SANTA ANNA to the heroism of despair ? This at
least is the only means which remains to Mexico for
the redemption of its dominions, and the preservation
of its nationality.

After explaining that a public debt of 45,659,659
dollars has been incurred up to the Ist of December,
and that a further loan of 39,000,000 dollars will be
necessary if the war be continued beyond the
August of 1848, Mr. Por.s pourtrays the financial
and commercial condition of the United States during
the past twelve months. Nothing could to more
s:ttisfactory, as an illustration of the working of
free trade, than the result of the reduced tariff
of America. Up to the Ist instant, being the
close of the first year of the amended tariff,
the net revenues from the customs amounted to
31,500 000 dollars, being an increase upon the re-
ceipts of the preceding year (,f no less than 8,500,000
(I,llars. According to the Message of the PRESI
DENT, an equally good result had followed from the
operation of the New Warehouse and Sub-Treasury
Acts. Besides giving these monetary statistics, Mr.
POLK enters at some length into the subject of
f ,reign relations. He advises the adoption of cer-
tain treaties with the Sublime Porte, with Tunis,
ith Tripoli, and with Morocco ; recommends
with equal earnestness the establishment of a diplo-
m4tic intercourse with the Court of his Holiness Pope
Pius IX. ; and announces the appointment of Charges
d'Affaires to Equador, Guatemala, and Bolivia.
Little intelligence of importance has reached us by the
New York packet-ship Ashburton, beyond the
;Message of the PRESIDENT, but news of interest from
the seat of war may be anticipated on the arrival of
the Britannia.

When the Government, on the 25th of October,
jelled to the remonstran :es that were flowing in from
every quarter, and sent the celebrated letter to the
Bank recommending the "directors to enlarge the
amount of their discounts and advances upon approved
security," and promising that if their so doing
" should lead to any infringement of the existing law,
her MAJESTY'S Government would be prepared to
propose to Parliament on its meeting a Bill of Indem-
nity," there was a general expression of joy from all
parts of the country. Immediate relief was thereby
afforded to those who with ample means to meet every
engagement, with abundance of real capital—although
that capital did not consist of bullion—were
brought into a most precarious position and
exposed to the most imminent danger of
being obliged to suspend their payments. True it
is, a condition was annexed by which the value of
the boon was greatly diminished. The minimum
rate of discount was fixed at 8 per cent.—a rate so
exorbitant, and so far beyond that which could
be :naintained for any lengthened period without the
most ruinous consequences to the mercantile and
maqufacturing interests of the country, that it might
well have awakened serious fears, and given rise to
many gloomy forebodings. All was, however, for-
gotten in the great fact, that the Bank Charter Act
of 1844 was suspended, and it was not for a
single moment supposed that it could ever again
be revived. It was not merely its opponents
who felt that its temporary suspension involved its
immediate abolition, its unconditional repeal ; even
the warmest advocates of the measure admitted that
such was the case. The statement of Sir R. PEEL
with respect to the free importation of corn was re
membered, and his admission that if the ports had
once been opened they could never again be closed—
that the nation would not submit to be again sub-
jected to the fetters from which they had been eman-
cipated, was manifestly in point, and applicable to
the still more galling restrictions imposed by the
banking enactments. The great organ of the bul-
lionists declared thit "the Bank Charter Act was
virtually surrendered ;" that " the , purposes
of that Act might perhaps be supplied
by, other arrangements ;" and, again, that " the
measure certainly did aPpeai in its tendency
a fatal blow to PEEL'S Bill." " Other arrangements"
might be brought forward, new theories might be
introduced for the purpose of depriving the nation of
the blessings and prosperity that would be the result
of a free trade in money, and of a circulation adequate
to the wants of the people, and which would enable
every person able and willing to work to obtain re-
munerative employment; but the restoration of the
Act of 1844, in all its integrity, was never even con-
ti-mplated by any one not in the secrets of the
Ministry until the very day of the meeting of Parlia-
ment, when that letter was withdrawn and the former
law revived.

The Chancellor of the Exchequer, however, when
moving fur the appointment of a Special Com-
mittee to inquire into the causes of the com-
mercial distress, and how far it had been
occasioned by the laws for regulating the issue
of bank-notes payable on demand, avowed his
undiminished confidence in the working of the
measure ; and it sas perfectly manifest, from his
statement, that no real intention existed of altering
the law. The inquiries of the Committee were merely
for the purpose of avoiding any immediate decision,
and shelving the question until the arrival of a more
propitious time, when the popular mind would not be
so much excited on the subject, and a partial resto-
ration of prosperity might banish the recollection of
the evils and sufferings to which we have been ex-
posed. If any doubt could have existed after the
speech of the financial Minister, it Must have been
removed when the composition of that Committee
became known, and the persons selected to serve
thereon were nominated. In fact, the investigation
'night just as well be omitted, and the report imme-
diately published, the nature and character of which
is already decided on even before the commencement
of the labours of the Committee.

It is therefore incumbent on the opponents of the
present system to lose no time in bringing their
opinions before the Legislature and the country at
large. They must not suffer themselves to be hood-
walked by such flimsy pretexts, or induced to post-
pone the consideration of those measures which are
essential to the national safety, while the farce of an
inquiry is going on. The Act of 1844 has been
weighed in the balance and found wanting. The
law of the land has been necessarily violated, in order
to preserve the country from the sad effects of its
baneful operation. If further investigation is neces-
sary as to the new law by which it is to be replaced,
let it et least be forthwith repealed. 'Whatever may
ue the opinions of parties as to the maintenance of a
currency convertible on demand into bullion, at a
Price of 3/. 17s. lOid. per ounce, all should unite to
abrt.gate that fatal enactment, and to erase it from our
statute-book.

Letters from Milan of the 19th inst. state that M.
NAZARI, the deputy of the city of Bergamo, in the
centr,d congregation of the kingdom, movea a ruso-
lutiim, founded on the universal discontent or the.
country, that a committee he appointed to lay before
the Emperor of At:STRIA. a project of reform for the

Lombardo-Venitian kingdom. Although this mo-
tion was opposed by the Governor of Milan, who is
president of the congregation, and who declared that
the Viceroy himself was engaged in preparing a pro-
ject of reform, it was passed unanimously by the
assembly, twenty-four members of which were pre-
sent. The president found himself compelled to
proceed to the nomination of the:committee, declaring
nevertheless, in the name of the Viceroy, that no dis-
content prevailed in the country. The committee
consisted of the following deputies :—Count YOBBO,
for Como; Dr. VILLA, for Milan; Count SCHIZZI
for Cremona; Count BARNI, for Lodi; M. SAN
GERVASSO, for Brescia ; -M. NAZAR', for Bergamo ;
and M. ZANETTI, for Mantua.
From the Ist of January the Diario di Roma and
the Notizie del Giorno are to cease to appear, and are
to be replaced by an official journal, which is to bear
the name of the Gazette de Rome.

Letters from Lisbon of the 23d announce that a
change of Ministry has taken place. The following
is a list of the new Cabinet:—

President of the Council, Minister of Foreign
Affairs, and ad interim of 'War—the Duke of SAL-
DAN 11A.

InteriOr—BERNARDO GORGAO HENRIQUES.
Finance— JOAQUIM JOSE FALCAO.
Marine—AGOSTINO ALBANO BE SILVEIRA PINTO:
Justi,ca—Joectunkr JOSE DE QUEIROS.
Several severe shocks of earthquake had been felt at
Lisbon, but no serious injury occurred.
Sir CHARLES NAPIER'S squadron sailed from the
Tagus on the 22d for a ten days' cruise, leaving only
her MAJESTY'S ship Howe and the Comet steamer in
port.

The steamer from Southampton of the 17th had nct
ruched Lisbon on the departure of the packet.

The French and Spanish Governments had refused
to join Sir HAMILTON SEYMOUR in a protest against
the elections.

Exchange 53 at 31 days, and the discount on paper
money 40 per cent.

Madrid papers of the 22d and 23d have arrived.

The Senate has passed the Bill authorising the
Government to levy taxes to the end of the year, and
the Deputies have agreed to the Bill authorising the
immediate levy of 25,000 men. Queen CHRISTINA
continued actively intriguing to secure the accession►
to office of ➢lox and PIDAL. MON had refused to
accept the portfolio of Finance unless PIDAL was
appointed Minister of Justice. NARYAEZ is opposed
to the admission of either of them into his Cabinet.

MADRID BOLSA, DEC. 23.—The Three per Cents►.
were done at 27i for the 17th of January; the Five
per Cents. at 15i for paper ; the Debt without inte-
rest, at 5 for cash ; and the Coupons, at 10i.

We have received the Paris papers of Wednesday.
The Ministerial journals praise the Speech from the
Throne as a model of firmness.

The National thus comments on that portion of it
which relates to the reform banquets :—" Behold the
sublimity of a free Government ! Put the great
public powers in accord—have two united majorities,
which is not difficult, and the manner to obtain theta
is well enough known, and then do what you please.
The forced isolation of the citizens answers for their
submission ; all collective expression of a sentiment,
of an idea, of a desire, is interdicted. There were
associations—no more associations; public meetings
—no more assemblies of any kind. Do the Deputies
desire to know if such a Bill, such a reform, has the
assent of their fellow-citizens ? Then they wil
question their fellow-citizens one by one, or by cor-
respondence. Assemblies are disturbances ; delivery
of speeches, interruption of social order ; to be ap-
plauded, Violence ; to petition for a reform, a factious
act. It ig at that point we have arrived. Well—s(
much the better f We were accused of calumny
when we announced it. France now sees to where
she is being conducted; it is for her to decide if she
will fall into that abyss of degradation towards which
she is being pushed I"
The Constitutionntl is to the full as indignant.
After characterising the passage alluded to as " an
accusation and an insult upon a considerable part of
the Chamber," it thus proceeds :
" The reform manifestations, in which upwards of
100 deputies, as we have already said, took part,
were held within the limit of the law. Was that limit,
we may inquire, overstepped ? And, if so, why did
not the Government prosecute? If, on the other
hand, the law was respected, how have Ministers lost
their senses to such a point as to place in the mouth of
the King accusations which the inactivity of the courts
of justice and of the Government have beforehand
contradicted ? But 'the presidentship of M. Guizot
may be easily recognised in this extravagant policy,
and in this forgetfulness of all moderation. He
divides the Chamber in two parts ; the Ministerialists,
sole and last defenders of royalty and of the charter ;
and the Opposition; enemies-by intention or folly of
the charter and of royalty. In order to compromise
the King and the majority in the quarrel, he attacks,
he provokes, he outrages. Like the Jesuits, his good
friends in Switzerland, he has need of desperate
combats ; like the emigrants of the Restoration,
whose passions he so long shared, he sees in the half
of France eneples.whotn royalty ought to conquer if
it does not want to-pesish. 'Like the last Ministers
of the fallen Government, he Says :—no • political re-
forms, no. concession.. We know no more dangerous
enemies of a dynasty than they who pretend to serve it
in this way."
The Presse thus sneers at the paragraph relating to
Switzerland:— : ' •

The paragraph 'relative to Switzerland com
mences like an idyl, sung on the bank of a fresh
stream, under the shade of a rustic cottage. `Civil
war has troubled the happiness of Switzerland.'
Yes, we imagined that a little. But what have you
done to prevent this misfortune ? My Government
had come to an understanding with the Govern-
ments of England, Austria, Prussia, and Russia, to
offer a benevolent mediation to this neighbouring
and friendly people.' Good ; we had also heard
speak of this good understanding of the fire Govern-
ments, especially with England, which at the end of
a week has left you in the lurch. But the
mediation has been refused by Switzerland.
Then what next ? —What next? Nothing.
Switzerland will recognise, I hope, that the
respect of the rights of all, etc., etc.' But
it Switzerland be not of your opinion ; if, profiting
by temporary unanimity which the recent events
have established in the Diet, it thinks right
to modify some of its internal institutions----
a right which all independent nations have—
what will you do ? Oh ! The Government will not
even foresee that eventuality ! It will not again ven-
ture to pronounce any interdiction whate‘Er, for fear
of sustaining another check ! It hopes ! Adieu to
the Sonderbund, which it had lately the pretension
to resuscitate, in order, apparently, to cause itself to
be pardoned for not having known how to secure its
existence ! There is not even a flower for its tomb.
How has the policy of menace and of intervention
thus changed into a policy of hope and resignation ?
How has the war trumpet made way for the shep-
herd's pipe ? The Parliamentary muse will soon re-
count to us the causes of this great transformation."
The KING, it is said, was manifestly suffering from
the effects of recent illness, and exhibited unmistake-
able signs of old age. The Duchess of ORLEANS was
received with loud applause by the Opposition De-
puties. It is said, that in the event of the succession of
the Comte PR PARIS to the throne during his minority
an attempt will be made by M. TIIIERS and his party
to secure the Regency for the Duchess of ORLEANS
to the exclusion of the Due DE NEMOURS.

The Moniteur publishes a royal ordinance elevating
Vice-Admiral Baron DE MACKAU to the dignity of
Admiral. By other royal ordinances Rear-Admiral
CECILLE was promoted to the rank of Vice-Admiral,
Vice-Admiral BAUDIN was appointed member of the
Board of Admiralty, and the Grand Cross of the
Legion of Honour was conferred on Rear-Admiral
BIZUAT.

M. OUTREUON, a rich notary, an 1 one of the
stanchest supporters of the Conservative party in
Paris, has been committed to the Conciergerie on
several charges of forgery and embezzlement.
M. SAUZET was on Wednesday elected President
of the Chamber of Deputies by a large majority; the
numbers were--M. SAUZET, 221; M ODILLON BAR-
ROT, 105 ; DUPIN, 13 ; DUFAURE, 9.
In all the bureaux, except one, Ministerial presi-
dents and secretaries were elected, and in that one
M. THIEus secured his election as president by a ma•
jority of one vote only.

It was rumoured on the Bourse that Austrian
troops had entered Parma, Placenzia, and Modena.
The Three per Cents. closed on the Paris Bourse
on Wednesday at 75f. 50c.; New Loan, 76f. 65c. ;
the Fire per Cents., l 17r.; the Orleans Railroad
Siiart-, 1,213 f. 75c.; Rouen, 75c.;
440 f. ; Great.-Northern, 56-3 C. 7uc.; Avignon, 580 i.;
Vierion, 547 f- 50c. ; Bordeaux, 490 f. ; Troyes

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