The Sun.
London, England, 1841-07-29 00:00:00

slumbering volcano, which (it was suggested with a
touching simplicity), ‘!n'tight soon become active." The
illustration of this opinion was supplied in these re-
-marks;—that" increased taxation" (which has just been
imposed by the Whigs themselves) " with diminished
trade" (which is the result of the dabbling of Presidents
of Boards of Trade with their running philosophers and
travelling journeymen ; of such councils as those of Par-
nell and Bowring, Poultt Thomson and your very " free
traders")—" and bread-at augmented prices" (for which, if
-they be demanded,. the poor may thank the more wealthy
and active agitators against the Corn-laws for the dis-
honest arts by which they are trying to force up the
'cern market), " will be an experiment which will pro-
voke demonstrations of feeling" (volcanic and lava-
like ?) " out of doors," &b. This the Government ad-
vocate calls " its calm statement of a self-evident proposi-
tion." Calm, indeed—but we, to some extent, touched
on this topic yesterday. Our present business is to con-
gratulate the Conservative public on the absolute admis-
sions which the force of truth (as we have remarked
above) or the force of circumstances has elicited from
the most determined partisan of the out-going tenants of
the Cabinet. " Additional taxation," says this writer,
" will inflict additional distress." Why this is true. If
there could be superlative degrees of that which is in
itself already perfect, we would say, " most true." Yet
still, it is " most true" only so far as it goes. It is not
the whole truth. Let us supply the remaining part of
the proposition ;—," and that additional taxation having
been laid on by her Majesty's present advisers, it follows
that to them the people must attribute their additional
distress." We are not ungrateful, however, for an ad-
mission of a political—unhappily a practical truth, from
such a quarter, although even it fall thus short of the
extent of the fact.
POST.—Even the most ingenious of the writings of
the Whig-Radicals of the present day furnish us with
nothing better than a specious variety in delusion. Even
the most intellectual among them seem to be utterly in-
capable of anything in political controversy which is
" direct and honest. Observe what they say with re-
ference to Mr. Huskisson. Many of the Conservatives
avow themselves to be friendly to the views of trade
policy developed by that gentleman, and contend
that because they are so, they must be opposed to the
wild proceedings of the puny " Liberals" of the pre-
sent day. The Whig-Radicals answer with an assump-
tion that were the principles of Mr. Huskisson
in the ascendant the Liberalism of the present day
would be successful. They say it is unphilosophical,
and narrow, and so on to abide by the letter of what
Mr. Huskisson said in his day ; and that it is the part of
a true political mind to distinguish between that servile
imitation of a great man, which consists in adopting, and,
under all circumstances, adhering to the specific mea-
sures which he recommended, and that enlightened re- ,
verence which consists in studying the spirit of a master's
views, and afterwards transfusing it into the reasonings
and measures which may be applicable to new combina-
tions of affairs. We readily admit the justice of the dis-
tinction. To the abstract proposition we make no objection.
The delusion consists in bringing it forward as if it cer-
tainly applied to the matter in hand, whereas it certainly
does not. In the present case, namely, the policy of
admitting foreign corn to this country for the sake of
what is called " cheapness," and without reference to the
other effects of such a policy, there is no new combina-
tion of affairs. The matter is argued upon precisely
the same grounds that it was in Mr. Huskisson's time,
and whatever may be thought of the validity of Mr.
Huskisson's reasoning, there can be no doubt in the
mind of any man of common sense that the letter of his
advice, as well as the spirit of it, is just as applicable to
the present time as to the time in which that advice was
given.
GLOBE.—The Times has written two articles, and
threatens more, the purport of which is to prove that
which was already pretty generally known—that Sir R.
Peel does not mean to be tied down to any particular course
on assuming the functions of Minister. His primary
object having been to get in, his secondary purpose
will be to keep in ; and professions which were very useful
to attain the first of these views, would, if reduced into
practice be very fatal to the second. To wreck the
Ministerial vessel when in the hands of the Liberals, it
was all very well that the Tory party should assume the
fixedness of the rock ; but the rock of opposition is now
to be dissolved into the quicksand of expediency, which
will be assuredly fatal to the Conservative crew, when
the tide of electioneering triumph shall have receded,
and left nothing but Tory principles for the Tory
craft to rest upon That the expectant Premier has
commenced his soundings with the view of following in
the course of the Whigs, is obvious from the altered tone
of the journals in his interest. Vacillation, which was
the alleged crime of the present holders of office, is to
be the great virtue of their successors, who are to have
the unfettered option of going in any direction that the
circumstances of the moment, or, in other words, the
preservation of their places, may seem to require. The
Times has not even the moderation to claim for its
protege the right of making one deviation, however
flagrant, from the course lie has declared to be the only
proper one, but reserves for him the right of going any
way at any time, according as the political mind may
act on the political weathercock. A statesman who is
to be " all things by turns," will assuredly be " nothing
long," and his career must inevitably be brief as a ..1.-
nister. By trying to make himself " everything to every-
body," he will soon find himself, in the vulgar and some-
what self-contradictory phrase, "nothing to nobody."
STANDARD.—The last number of the Edinburgh
Review reminds us of a person at the Court of the un-
fortunate Louis XVI., who obtained from the populace
the surname of Deficit. Now, as her Majesty's Minis-
ters are as well entitled to -a distinctive title as their
predecessors of the Cabal, or the Coalition, or the
Taleuts administrations—none of them weaker or
more wicked than the present—we respectfully
propose that henceforward they bear the name of
the deficit Ministry. They have the most indis-
putable right to the name. Their deficiency in all
the qualifications of statesmen has been abundantly
proved ; but this is not what we mean ; we allude to the
deficit which they have created in the public resources,
which they make the apologyan forthecilrannmotsot outrageouspropositions, which, strange as it may seem,
public
consti-
tutesplea
anchor hor o
merit,
d their
their hope of a restoration to
con-
fidence, their
andr
the n
office. They surely who have, during six years laboured
so industriously to create a deficit and now exult in the suc-
cess of their labours, must be rather proud than ashamed
of the title we give them, the " Deficit Ministry."
We are told, indeed, that the existing deficit is owing to
the unforeseen casualty of the wars in China, Syria, and
Affghanistan ; but this is not doing justice to the " deficit
administration ;" their exertions to earn the title we claim
for them preceded those wars. We have before us a return
of income and expenditure fur three years, ordered by the
House of Commons on the 22d of June, upon the motion of
the late Member for Falkirk—who must not drop a tear
over the political tomb of Mr. Gillon? He will be missed
almost as much as his brother in modesty, gracefulness,
and genius, Mr. Joseph Hume—but this by the way. We
have before us, as we-said, a return of income and ex-
penditure for three years-1838, 1839, 1840. Now,
upon the first of these years we find a deficit of 441,8191.,
but there was no China war ; no Syrian war ; no Alfg,han
war in 1838. Upon the second of these years we find a
deficit of 1,381,9381., and still in 1839 there was no
China war—no Affghan war—no Syrian war. In the
third year Ministers found that they were going a little
too fast in the deficit department, and they added five per
cent. to the taxes, but still the desired deficit
flourished in abundant " fructification," to borrow
Lord Sydenham's figure, for at the end of 1840 we have
a deficit of 1,750,543/., making in the three years a total
of 3,574,300/.—a pretty deficit realised upon which to
retire from business, were this the whole ; but this is
only the " fructification" of three years, and the pursuit
of a deficit began much earlier, as most of our readers
will recollect from our reference to Lord Sydenham's
notable doctrine of " fructification ;" an i the seven
months of 1841 already consumed cannot fail (consider-
ing especially the election expenses) to enlarge the minus
quantity—the deficit is actually no doubt from seven to
ten millions sterling.
COURIER.—The Revue des deux Mondes, or rather
the writer of the eloquent article from which we so
freely extracted yesterday, may be assured that without
" transactions" of any kind with any party, or the frac-
tion of any party, Sir Robert Peel, with the " same ad-
mirable sagacity, ability, dignified, calm, and foreseeing
patience," for the extraordinary and conjunctive posses-
sion of which he is so justly credited by the reviewer,
will conciliate for his administration the support, in the
main, and sooner or later, of all wise, patriotic, and
disinterested men who, however hitherto classed, and
sometimes viciously, under certain party ensigns, such as
Whigs, Liberals, or Reformers, have yet certain great
landmarks of constitutional principles in common with
each other, and with the Conservatives, -and which, as
such, must ever constitute a broad and impassable line of
demarcation between them and the Radicals, Revolu-
tionists, and Repealers. The amalgamation of parties
conscientiously according in the same fundamental points
of political faith will be consummated by no compromise of
principles on either side, nor ratified in the shape of any
compact or coalition formally expressed or implied.
There are, doubtless, precedents for such combinations
and fusions of parties, but they are not generally such as
have commanded public respect, even when governed by
unimpeachable motives, and arranged between the most
honourable men. The Government of Sir Robert wi

be, in the proper acceptation of the term, essentially a
Reforming Government. Reforming, in the sense in which
the illustrious Bacon defined it, when he bade us take

heed that it be the necessity of " the reformation
which precedeth the change, and not the desire of change
that pretendeth the reformation."

MONEY MARKET and CITY NEWS,

FROM THE MORNING PAPERS OF YESTERDAY.
CHRONICLE.—The rates of the Continental ex.
changes underwent scarcely any alteration to-day. being
mightn ary
bt he e a sme as l
considered
aas st
exhibitingpo s , but
rather on h t
me
ore whole t
firmness.ey
The shipments of silver, it will be observed below, con-
tinue somewhat extensive ; this circumstance, combined
with the export:: of indigo purchased at the recent sales,
must be calculated to give them some support, otherwise
the imports of corn going on just now, although not
on an extensive scale, would greatly counterbalance
our exports to the Continent, and thus render the situa-
tion of the Bank of England, so far as the exchanges are
concerned. in a more precarious position. It should not
be lost sight of, however, that the recent failures in
Vienna and elsewhere have not taken place without
having some influence on the exellianges, so far as having
greatly circumscribed the dealings on 'Change, many in-
fluential operators having very prudently abstained from
enteringinto any fresh negotiations, beyond what was
absolutely necessary, until things on the Continent as-
sume a better aspect than they do at present.
ADVERTISER.—As some of our Conservative con-
temporaries have endeavoured to cast the aspersion upon
the Liberal press, that it is desirous of exaggerating the
injurious effects of the recent continuous rains, with the
view of exciting discontent in the minds of the people
against the Corn-laws, it may be as well to prove the