The Sun.
London, England, 1841-01-13 00:00:00

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PRICE 5:1.

MONEY MARKET and CITY NEWS.

(TUESDAYEITISNING.)
CIIRONICLE.--The President's Message was the
chief subject of attention this morning, but the interest in
it was not sustained. It is, in fact, looked upon as a dying
eulogy, by Mr. Van Buren, on his own official existence,
founded on his having carried on the affairs of the Union,
since the year 18:.17, in the midst of much commercial dis-
tress and suspension of specie payments, without having
had recourse to a national debt or a national bank. The
Sub-Treasury Bill, of course, forms the principal subjsct
of self-praise ; and, as he leaves the public Treasury with
only $BOO 000 in its coffers against 4,000,000 of Treasury
Bills in circulation, he very gravely assures Congress that
" an overflowing Treasury; however it may be regarded as
an evidence of public prosperity, is seldom conducive to
the permanent welfare of the people." This is similar
to the well-fed, purse proud parsons in this country
telling us that no rich man can cuter the king-
dom of Heaven ; which may be all very true, hut
few people, nevertheless, seem to prefer poverty when they
have an opportunity of filling their pockets; in the same
way, we suspect, this doctrine of Mr. Van Buren will find
few admirers amongst the citizens of the United States.
An empty treasury always brings along with it-vogue no-
tions that means must be, adopted_ to supply the deficiency,
and certain disagreeable associations of new taxes force
themselves upon the people's mind under such ciroli7t-
stances, which by no means add to the comfort of their
fireside contemplations. Measures have been adopted
very promptly indeed by Mr. Clay to show that be has no
bellef in the blessings of the sub-treasury scheme and
empty coffers, for he has already given notice in the Senate
of his intention to introduce a bill for its immediate repeal.
Mr. Van Buren, however, meets all such hostile demon-
strations towards his oflicial policy zis the emanations of po-
litical excitement, which have misled the people for a
time, but which will not long maintain their decep-
tive influence. After briefly retracing the chief measures
of his Government, from which he maintains that much
benefit has been conferred upon the people of America,
he consoles himself with the expectation tialt they most, in
the long run, receive the reward due to merit; that they
" will receive the final sanction of a people whose un-
biassed and fairly elicited judgment upon public affairs ig
never ultimately wrong." Mr. Van Buren assumes, as the
ground of his enmity to the establishment of a national
bank, that it has been " repudiated by the framers of the
constitution as incompatible with the rights of the SLates
and the liberties of the people." There is a party in the
United States who ate opposed to a national bank, upon
the ground that the power to establish it was not conferred
upon the Federal Government by the Constitution ;
and it is acknowledged that every power not abso•
lutely conveyed by that instrument to the g°T.,e;
fi
rat Government was reserved by the lembeelieTe:
the people. But the Harrison
take a different view of the question,
constitution, " the right to coin money, slid to
toregulate
because, by the
the value thereof" is specially conveyedtotibe Federal Go-
vernment; and they construe this to be a canveyance of
the power necessary to use the proper instrument for re.
gulating the money which they arc
be given to the Go-
authorised to coin.
They say, for instance, that if power
vernment to maintain a navy, it necessarily co act, the
right to build ships ; and so the right to coin money neees.
sarily conveys the right to construt the machine, and use
the means requisite to giveit circulation and vitality.
They recognise no difference between the right to coin
money and issue
paper currency ; specie, and convertible
paper issued as its representative, they look upon as one
and the same thing, and that the greater paver conferred
necessarily includes the less. The Van Buren party apply
a much narrower meaning to the words used, and deny
that, in the strict and literal sense, they I ale sufficient to
carry out the right of founding a national bank of
j„00. Mr. Van Buren states also that the framers
of the Constitution held the:same opinions. Some of them,
perhaps, may have done so ; but others, and, we should say,
the majority of them, did not; for many of them, we hoar,
took part in the debates which preceded, and supported
the former charter granted to the Bank of the United
States, under which it existed for years as a national id-

the conclusion that the class of people of whom the
to:vns had got these specimens, were no very desirable
representatives for the nation. Thus the operation of
the Municipal Reform has materially aided the restc-
ration of the popular mind " to its sound and pristine
health ;" and the experience of Liberal power wall be for
many a year the safe guarantee of Conservative prin-
ciples. rt is not, indeed, to be taken for granted that
every burgess who has voted for a Conservative Town_
Councillor will also, if he happen to be a Parliamen-
tary elector, record his vole for a Conservative Member.
The ties of private connexion and the respect for pri•
vale character may not infrequently influence a Liberal,
as he calls himself, to vote for Conservative Town-
Councillors. He excuses himself to his brother Radi-
cals by pleading that the town elections are net political
bet local affairs, and that his duty is to do the best
for the town. But, though for these reasons you must
beware of calculating upon the universal assistance of
your corporate constituents in your Parliamentary elec-
tions, yet this great and clear advantage you derive
from your municipal victories, that they create an opi-
nion of the moral strength of the Conservatives, and
show the Liberals to be in a disunited, undisciplined,
and uncreditable state. This appearance of affairs
not only encourages your friends and disheartens
your enemies, hut operates in a very practical way
upon your canvassing-book, by bringing the wavcrers to
your side. The Conservatives, therefore, bid fair to
meet the next general election (and it probably will not
be a very distant one), with all the appliances that can
secure success—with good majorities solemnly pledged
in their favour—with the popular opinion, not only of
the Pakliamentary electors, but of the burgesses, loud
in their cause—and with all the contingent advantages
appurtenant to the p irty which possesses the supe-
riority both of the numhers and of the ground.
( From the Morning <-Idveriiscr.)
That we are ngeielly, if we may use the expression,
the special organ of the Licensed Victuallers, whether
in the metropolis or in the provinces, is a fact which
we have no wish to conceal, although we are aware
that it militates to a certain extent, against the force
of our arguments when any claim on their part comes
under our consideraCon, or any case of oppression dc•
minds our attention. A weaker advocate, less skilled
in the duties which they oxe to the public, and the
rights which they arc entitled to enjoy in common with
their fellow,ubj,:cts, would be more succesdul in the
cause of justice, became less suspected of partiality or
prejudice ; still there is no reason why we should not
lift up our humble voice In vindication of the rights
and privileges of men who, in later times, have been
the sport of legislation, and the victims of magisterial
as well as Parliamentary caprice. Placed, with regard
to other classes of society, in a position which enables
them to exercise great influence upon the minds and
morals of the communities among which they may
happen to reside—possessing, as they do, a large stake
in the welfare of the country, and characterised by uni-
form sentiments of loyalty and obedience to the laws of
their country, it would be prima facie inferred that un-
der such circumstances the Licensed Victuallers would
have formed special objects of protection and encourage-
ment with any sane Government under which they lived ;
but what is the case? For the last twelve years they
have been the objects of persecution, and the victims of
legalized plunder—encroachment upon their trade has
followed upon encroachment—enactment upon enact-
ment—imposition upon imposition—tax upon tax—and
oppression upon oppression, until not only has the trade
been ruined in all its best and most useful fete ures, by
which it was wont to be recognized, but the Licensed
Victualler is not even nosy master, as every Englishman
by law is, of his own house. If our readers think that
we are guilty of exaggeration in making this statement,
let their' remember how many cases of infraction of the
law have been attempted to be established against the
trade, simply because the sounds of a piano or some
other musical instrument were heard within their do-
miciles ; and, above all, let them look into the Case
mentioned in our paper of Monday, and decided at
Union Hall police-oce, in which, if the report be
correct, no Licensed Victualler shall in future allow
his private friends to enjoy his society and their own
after the legal hour of the night, on pain of being
fined, either for disorderly conduct or the non-observance
of legitimate hours. In the last case, as well as in the
former, the police were the instruments, and the inter-
ested instruments. Two of them swore that they heard
" several persons singing ' Ilurrah for the Road,' " but
without adducing any instance of riot,disorder, or absence
of respectability on the part of the vocalists ; and three
of the very persons who were thus innocently amusing
themselves in a friend's house and at a friend's expense,
in a jovial song, swore with equal clearness, and assu-
redly without any interest or prejudice, that " the per-
sons in the house were ell relatives of the defendant."
Under such eircumatences, but more especially under
the doubt expressed by the presiding Magistrate, of
the actual intentions of the Legislature as to the ap-
plication of the Act to beer-sellers or to Licensed Vic-
tuallers, the clear course to be pursued was to have
dismissed the case ; but no : the Magistrate gave more
credit to the evidence of the police interested in a con-
viction than to the evidence of three disinterested per-
sons, and finally fined ehe defendant in the sum of 40s.
for having dared to entertain a few friends in his
house We entertain every respect for Mr. Traill, the
Magistrate who presided in the above case, as an upright
judge ; but if the instance referred to be properly re-
ported, there never was a grosser departure from the
principles of law and justice. The law says nothing
upon the subject, and justice and common sense declare
that the Legislature never could have contemplated
such an infringement of the rights of private individuals,
as that of preventing them from enjoying the society of
their friends and relatives at any time and at any hour
that they might deem proper. To imagine such to have
been its intention would be to suppose that it had re-
solved to make Pariahs of publicans, and outcatts from
society of all who desired to furnish it with comfort or
convenience.