The Sun.
London, England, 1841-08-13 00:00:00

Commons, would no doubt have felt a difficulty in
accomplishing this result, because the means would
have been denied; or but scantily and ineffectually af-
forded to him. But a. Minister trusted by both Houses
Of Parliament has the means of conquering seals '4 ciffi-
culties'' as these; and of maintaining the safety and the
dignity of the Crown he serves against its domestic as
wel as against its foreign enemieza Perhaps it will be
said that there is yet a middle course, to which none of
the foregoing arguments apply, that the agitators, calcu-
lating how they can achieve the maximum of mischief to
the State with the minimum of danger to themselves, may
continue to excite and encouracee disturbances, yet avoid the
responsibility and danger of 6bringing those disturbances
to a head. We answer, that for this middle state of
things the remedy must be found, or framed, in the
law. The agitarors themselves, the ringleaders, whe-
ther in or out of holy orders, must be punished—
punished in a way which shall give efficacy to the
example. If the language which they hold to their
countrymen be a violation of the existing law, and
liable to the penalties of sedition, let the existing law
be straightway applied, and the penalties firmly enforced.
GLOBE.L—The sudden change in the tone and lan-
guage of the Times toward the Irish Catholic clergy and
their flocks, joined to the severe reproofs it has admi-
nistered to the Protestant Association for applying to
them the self-same epithet, and accusing them of the
self-same crimes, which had copiously filled the Times'
columns, have naturally excited mingled surprise and dis-
gust in the Association, thus deserted, betrayed, and de-
nounced by its former friend and advocate. The other
Tory Journals, less facile in the art of pirouetting, employ
considerable severity of remark on this portentous omen
to the cause of intolerance ; and charge the " Leading
Journal" with dishonesty in heaping upon the Protest-
ant Association " unmeasured and unwarrantable in-
vective"—having shortly before praised its objects, its
efforts, and its agents. We alluded yesterday to the
appeal which the Standard deemed it right to make in
behalf of the Association, which, notwithstanding the
denunciations of the Times, was affirmed to "deserve the
support of the country." This morning the Herald devotes
a considerable space to the same object. A letter from
" A member of the Protestant Association" is published in
its columns, and a long leading article gives effect to the
epistle. The letter complains that " a journal well known
for its sudden and unexpected changes of opinion on im •
portant subjects (witness those of late on Puseyism and
Corn-laws), has within these three or four days de-
nounced the Protestant Association,' as 'incendiaries ;' "
and the Editor follows up the impeachment by remark-
ing, that the writer of the letter " complains with great
earnestness, of the decree of condemnation which it has
pleased a Morningf Contemporary to pass upon that body,
after its most imperial fashion of deposition and degra-
dation." The " leviathan of the press" is too much ac-
customed to have the charge of " apostacy" hurled at its
columns to be greatly disquieted by this fresh discovery
of its baseness. The hide of a rhinoceros is not more
impervious to the tickling of a straw than is the moral
feeling of the Times to anything like a sensibility of
shame. -It is vain, therefore, for the Herald to at-
tempt to produce any such feeling in that journal by a
quotation from its own columns ; and to add, that
"our Contemporary himself, a few days before, anathe-
matised, as 'surpliced ruffians,"' the Catholic priesthood
of Ireland ; and, we may add, employed the degrading
appellation of "savagery," as the characteristic portrai-
ture of the Irish people. For Popery or Pro:estantism,
except as party words, and as supplying weapons for
political controversy, on the principle which actuates
mercenaries in a campaign, the Times cares nothing.
The object for which the Irish Catholics were anathe-
matised is answered.
STANDARD.—The immediate effect of the New
Poor-law, in diminishing home consumption, cannot be
treated lightly by those who listen to the apology of the
"deficit Ministers," for the defalcation to 'which they,
owe their names—the'apiolOgy, that the success of the
Rev. Mr. Mathew's; mission has seriously affected the.-
expenditure of the lo‘Ver classes of the Irish: ¢ hil SO-.
merset House therd are three missionaries—we will not
affront the excellent teacher of temperance by -calling
them three Mr. Mathews—whose ascetic lessons have a'
far wider range of population to act upon, and
embrace a much greater number of articlB of ex-
penditure than Mr. Mathew's pledge ; 'and there
is this difference between them, that whereas Mr.
Mathew leaves his followers to expend at their
pleasure the money which they save by his
salutary instructions, the stern disciplinarians of So-
merset House make the unhappy beings submitted
to their mercy still poorer by starvationi To look, how-
ever, no further than the immediate effect of the Poor-
law as a cause of the depression of:the home market,
would be to take a very inadequate v,iew of the mischie-
vous operation of a measure as unwise as it is inhuman.
The fear of the union worhhouse compels men to make
sacrifices and exertions no less injurious to the commu-
nity than to themselves. They aliridge their diet, not
for their own profit, but for the 'gain of others ; they
overtask their powers, not to gain more, but to pro-
cure any wages; and thus, in a pnarket already more
than overstocked with labour, 'render miserable, and
shorten, their own lives, in ord6r to force oths.rs out
of employment. And what is the general effect of
this ? To enable the money capitalist to gamble with
the most complete indifference in the • lives and
happiness of his fellow-creaturet, and in the safety of his
country. It would be perfectly, easy to trace the opera-
tion of the New Poor-law in producing, by the encou-
ragement of speculation, the distress now afflicting the
manufacturing districts. The money capitalist has
always had labour at his command at whatever wages he
might please to pay ; and if wages do not seem to have
much diminished, it is because more toil has been taken
out of the slave for the same nagney, and he has been
paid for it less_ number of months or weeks. Has any
one ever heard of a manufactory silent fpr want of hands
since 1834, or of many manufactories where work has
bon constant for the last seven Wars?' No, the New
Poor-litte lies changed all that. The money capitalist
can now take. the Market at his pletti;yrel and leave the
earners of his additional wealth to staff's whenever the
market does not invite him.
COURIER.—We took occasion a f`e'W weeks ago to
expose the groundlessness and fallacy of the supposition,
that a Conservative Government would 'find any peculiar
difficulty in dealing with Ireland and Irish interests in
the new Parliament ; and notwithstanding the more
than usual acrimonious virulence of Mt,. O'Connell and
his regiment of ragged partisans, noitrithstanding his
turgid threats, and his tone of insolent defiance, we
have see;i no reason since to alter or modifyllie decisive
Opinion we then expressed, With Ireland, we again
emphatically repeat, Sir Robert Peel will experience
fit, greater difficulty in dealing than with the other por-
tiOti§ eft the eiciipirei and for this cogent reason, that his
measures, and the *hole course of his policy, legislative
and administrative, tottArtis that country, will be charae-
teriped by the same rigorous adliereittie to constitutional
prociples, and the same regard to the feta wants and
wishes of the people, as will be his measures with regard
to England or Scotland, Those who pretend or fancy
they see in the state of Ireland obstacles in Sir R. Peel's
path, reason about it as if it were a separate and distinct
nation, and not an integral portion of the British em-
pire. They forget, or seem td forget, that all distinc-
tions on account of religion have been aboligheti, as well
as that all those questions that were wont to reinstitute
the battle•field of parties in the Commons, have been
finallz disposed of. The subject of corporate reform has
been luckily set fit rest. The tithe question—that fruit-
ful source of bitterness,, heart-burnings, and crime—h .s
been adjusted on precisely the same terms as were pro-
posed by Sir IL Peel, during his brief but brilliant pre-
miership in 1835 ; in fine, as regards the business of
legislation there is no one leading principle—no one pro
minent or, important point of policy relating exclusively
to that part of the empire, from the handling of which
there is the remotest chance of embarrassment or per-
plexity arising to his administration. In this respect
the time of his accession to power is peculiarly propi-
tious.

'MONEY MARKET and fiTY NEWS'
FROM THU Mariam PAPERS OF YPTODAY* ,
TIMES.--While on the subject of joint-stock bai:." we
may advert to the projected 'a Stock-Exchange Bank," no-
ticed the other day: A Corropondent,,who is interested in
the welfare of ttiat instittitioni conceives that it implies
an extraordinary degree of igtimittiee iii Stock-IXchs,nge
business not to perceive from its very titic (fin' there are
Yetno other data) the manifest utility of the scheme,
Unfortunately this ignorance is participated in by all the
leading members of the stock-Exchange, who are utterly
at a loss to perceive the purpose of a new bank " to take
in stock and shares." An explanation is offered by the
same Correspondent, which does not, however, contribute
much towards the clearing up of the mystery. It seems
that the object of the StocktExchange Bank is to protect
the " Bull" from having his .stock thrown upon the
market, so as to depreciate its value, and deprive the
" Bear" of the very "unfair advantage " he
now has over the " Bull." If the " War" • really
had an advantage over the " Bull," such an explanation
would be at least intelligible, but those 'who
are aware of the operations of the Stock-Ex-
change know that the reverse is the case. If the
" Bull," on a " Bull account," has to sacrifice stock, or
pay a heivy continuation, the "Bear," on a "Bear ac
count," if is not prepared with stock to deliver, has to
`procure it at the best price he can, and is just as liable to
be obliged to sacrifice his money as the speculator for
the rise is to sacrifice his stock ; only there is this differ-
ence between them, that a very great scarcity of stock
is more frequent than a very great tightness of money,
and that therefore it is generally more easy to obtain
money upon stock than stock upon money. Tp illustrate
this it is only necessary to refer. to a well-known case
which occurred in the City some years ago, when a
gentleman of high connexions, and subsequently a Peer,
applied to a leading capitalist for an appropriation of
shares in an Insurance Company now of high eminence,
he would have an appropriation, sold
' -1 %ad them to delivery
• 1-- 'thy

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them at a price whicn, u
would have brought him a profit of 101. per ...
capitalist, however, learning the transaction into whicn
the applicant had prematurely entered, and perceiving
that he (the applicant), Could not procure the shares
in the market for the settlement of his account, refuse
to appropriate him any shares, so that he was finally
compelled to purchase them in the market at a premium
of 221., which caused 1-11„q to sacrifice 121. instead of gain-
ing 10/.
.per share. Such an incident could not have
happened to a purchaser for time, as money was more
easily to be obtained than shares. Thus the " Bull"
really has the best poSilon, and an institution to give
him additional advantages, by keeping up the price of
stock, would lead to nattiness instead of preventing it.
It will be perceived that the explanation is not at, all cal-
culated to enlighten. ,the public, who will probably have
a clearer insight infO'the nature'of the -concern from the
fact that the appropriation letter.s, are hordealt in at the-
New Stock Exchange in Thrognaerte.ll-street. Another
Correspondent wxities that these letters are tole had•at
the rate of ld. or lAd. per share ; but this statement is
to be received with caution, as there were sonic repair
that they are sold for 3d.„-and even for as much as 6d.
ADVERTISER.—A glailee at the state and prospects
of the cotton trade, at a time when so much depzeasion