The Sun.
London, England, 1841-06-16 00:00:00

SPIRIT of the PUBLIC JOURNALS.
FROM THE MORNING PAPERS OF THIS DAY.
CHRONICLE.—We point with pride and exultation to
the proceedings at the London Tavern, of which an ample
report will be found in our columns of this day. Who that
witnessed these proceedings can for one moment hesitate to be-
lieve that monopoly has received its death blow ? The joyous
enthusiasm with which the entry of Lord John Russell into the
City was hailed by all ranks and classes of its inhabitants, the
ardour with which they thronged to the meeting to take part
in the business of the day, afforded a noble justification of the
confidence reposed in the people by Ministers. The hearts of
the monopolists must have sunk within them at the unequivo-
cal manifestation of opinion which the proceedings of yesterday
exhibited. But will the triumph of yesterday be confined to
London ? No. The blow struck at monopoly in the heart of
the empire will be felt in the remotest corners of it. It is im-
possible to over-estimate the importance of the proceedings of
yesterday.
The discussion expected in the House of Commons last night
from Mr. Scholefield's motion,, that the " extreme suffering of
the industrious classes from want of employment, low wages,
and high price of provisions, renders it the imperative duty of
Parliament to devise means for the alleviation of the great
misery which now pervades all the manufacturing districts of
the country ;" and the amendment of Mr. Hindley,
" And that it is the opinion of this House that the
present system of taxation and the Corn-laws, are
peculiarly unjust to the middle and lower classes of
the community," was cut short by the counting out of
the House at eight o'clock. It may not be amiss that
the country should know something of the motives
which led to this step. Our readers must not sup-
pose, from there having been only twenty-four Mem-
bers present swhen the House was counted out, that there
was any want of Members in town. The fact is, that the
Tories deliberately left the House in a body after hearing the
speeches of Sir Francis Burdett and Mr. Labouchere, and
feeling the imbecility of the one and the force of the other. Both
Sir Robert Peel and Sir James Graham listened to the
speeches of Mr. Scholefield and Mr. Hindley, and also to the
speech of Sir Francis Burdett ; but when they found that he
invited discussion, having asked Members opposite to state
their views on the subject, and that he gave up the whole agyi •
cultural ease by denying that the landowners wanted protec-
tion, or that they had any, they immediately left the House ;
and Sir Robert Peel, at the head of a whole row of county
Members, gave the sign for counting out, which Sir
Stratford Canning obeyed. A more shameless admis-
sion that the Opposition dared not discuss the matter it is
impossible to conceive. It seemed as if they wished to give
additional confirmation to the truth of what was advanced by
Lord John Russell at the City yesterday forenoon, namely,
that the Opposition shrunk from all discussion on the subject.
No rational person can now doubt that the object of the want
of confidence motion was to prevent all discussion on the Corn-
laws. They ate afraid, in fact, to meet their opponents, con-
scious of the badness of their cause. A mere skulking course
than that pursued by the Tories was never exhibited to an in•
dignant nation. What a party to have the assurance to lay
claim to the Government of this country, without having the
manliness to meet their political opponents en the very ques-
tion at issue between them! Matters are come to a strange
pass, indeed, if conduct like this finds favour in the eyes of the
people of England.
POST.—We stated yesterday that the matter upon which
Lord John Russell appears to rely in his written Address to the
electors of London, is nothing worth. As this 'question in-
volves the higher question of the policy of the Government,
upon which an appeal is to be made to the country at large, the
discussion of it is worth more attention than if it related
merely to the beaten Minister's pretensions to the representa-
tion of London. The Ministerial Journals assert, with their
accustomed effrontery, that the effect of the Government po-
licy would be to replenish the Exchequer, while it would
greatly relieve the people, and promote profitable industry to an
astonishing degree. Lord John Russell, with rather more
modesty, contents himself with saying that her Majesty's Mi-
nisters wished to lighten that kind of taxation which, while it
yields nothing to the Exchequer, presses heavily upon the
people. Now this is a very reasonable wish ; but
the thing which her Majesty's Ministers have done
bears no obvious relation to any such wish, or plan, or policy.
In the first place it is to be proved that there is any such " kind
of taxation" as that to which the Noble Lord refers. We
know that plenty of violent, and by no means very profound,
persons, will be ready to exclaim, that all " protecting duties"
constitute that " kind of taxation." But exclamation and as-
sertion are very different things from argument. If Lord John
Russell can prove that protecting duties coestitute a burden
upon the people like taxation, he will prove a very important
thing ; but he has no right to take it for granted without prov-
ing it. This is the point of which we complain. If this
" kind of taxation," as he calls it, be no taxation at all, then
his address, however plausible in words, is mere nonsense, be-
cause it rests upon an ignorant delusion. Now there are men
in England quite as wise and as well-informed as Lord J.
Russell, and rather more unbiassed by strong self-interest upon
this question, who hold that the imposts to which the beaten
Minister alludes are not in themselves taxes, but, on the con-
trary, enable the country to bear taxes which otherwise it
could not bear.
HERALD.—We must take leave to express in limine, our
strongest protest against the step which Lord John Russell has
adopted in offering himself to represent the City of London.
His Lordship is still a Minister of the Crown ; occupying,
probably, among all its Ministers, the second rank in the per•
sonal confidence of the Sovereign, and in virtue of his leading
their party in the House of Commons, filling, perhaps, the
first station in that Administration in point of political import-
ance, and of public consideration. In this three-fold capacity
of a principal Minister of the Crown,--of a confidential servant
and adviser of the Crown,—and of the organ of communication,
as it were, between the Crown and the people in virtue of his
position in the House, of Commons,—can Lord John Russell
hope to discharge the duties of a representative of the City of
London ? Can he at once discharge his Ministerial duties to
the Crown, and his representative duties to his consti-
tuency ? Can he, even with all the advantages of the " ab-
solute wisdom " attaching to the " council of three " with
which he hopes to be associated, by the coincident return of
Mr. Crawfurd, Sir M. Wood, and Mr. Pattison with him
can he equally acquit himself of his duties as a Se-
cretary for the Colonies and a Member for the great empo-
rium of their produce—as a Minister sworn to uphold, main
taro, and vindicate the privileges of the Monarch, and as the
delegate of a constituency at all times to the last degree jea-
lous of and opposed to every distinct assertion of them ? Is
there nothing indelicate in the leader of the Government in
the Commons, and in that position almost as much as a Chan-
cellor of the Exchequer controlling the issues of the public
purse, being Member for London, which is, of necessity, con-
stantly appealing to the Legislature for advances from
the national funds to enable her to carry out public
works and improvements of a character more or less doubt-
ful or disinterested, accordieg to circumstances,—now
anticipating its coal duty for the completion of a magnificent
street, or mortgaging its " orphan dues" to aid the erection
of a stupendous bridge ; but not omitting, occasionally, to
make sales of corporation lands or rents under circumstances
not absolutely free from the suspicion of jobbing, and to par-
ties not always capable of showing what " reasonable consi-
deration" they have paid for their bargains ? Is it very con-
stitutional for one of her Majesty's Secretaries of State, sup-
posing him to be elected for the City, to represent indirectly
but often—and especially by his votes on local and private
Bills—very palpably and partially, the district interests (—and
if not absolutely to " represent," we may say "to in-
fluence"—) of the ancient borough of Southwark, and the
modern, or Russellised, or metropolitan " Boroughnets" of
Finsbury and Lambeth ; of Marylebone and the Tora.
Hamlets ?
ADVERTISER.—London gave yesterday a most glorious
note of preparation at the truly great meeting held for the pur-
pose of securing the election of Lord John Russell, and the
other Liberal candidates for its representation. The demon-
stration was in every respect worthy of the occasion. Never did
the wealth, rank, influence, and talent of the metropolis exhibit
themselves in more imposing and effective combination ; and
supported as this combination was by the numbers who
thronged every approach to the London Tavern, the place of
meeting, and, urged only by the enthusiasm which pervaded
all parties—from the wealthiest merchant on the platform
to the poorest operative, who watched the proceedings
with an anxiety, commensurate with his stake in the
result, there can be no doubt that London will do its duty,
and secure the triumph of those principles of unrestricted com-
merce, without which the fall of Britain's prosperity and great-
ness will be as certain and as rapid as has been their rise. Five
thousand signatures having been attached to the requisition
soliciting Lord John Russell to become a candidate for the
representation of'the greatest commercial city in the world,
the meeting of yesterday was naturally expected to exhibit
features of more than ordinary interest. But the result alto-
gether surpassed anticipation, and may, so far, be regarded as
a death-blow to the hopes of the monopolists.

MONEY MARKET and CITY NEWS.
FROM TIIE MORNING PAPERS OF THIS DAY.
CHRONICLE.—To illustrate the truth of our doctrine that
the country is not at present in a satiation of sufficient financial
strength to enable it to grapple with another drain of gold,
similar to that which followed the bad harvest of 1838, we refer
to the state of the currency and bullion in the Bank, in May,
1839, when the first operations were made by the Bank to stop
the export of bullion, and at 25th of May, 1841, when the last
Gazette averages were published:
ay 2, 1839. 25, .
Notes in Circulation —.M18,218 May
4,000 16,618,0001841. Difference
1,599,000
Deposits 7,814,000 7,242,000 572,000
Total Liabilities 26,028,000 23,857,000 2,171,000
Securities 23,548,000 21,817,000 1,726,000
Bullion ... 5,119,000 4,921,000 198,000
Total Assets 28,662,000 26,738,000 1,924,000
Now, taking the gross results of these comparisons :
There is a decrease in the liabilities of £2,171,000
But also a decrease in the Assets of 1,924,000