The Sun.
London, England, 1841-11-02 00:00:00

Cite o; flt&.

LONDON:
TUESDAY, NOVEMBER 2, 1841.

MOW.
one large measure through Parliament in one
Session—as the Beer Bill in 1830, Catholic
Emancipation in 1829, and the Bill with the Slid-
ing Scale inlB2B—there are already great questions
enough mooted in the public, to which Sir R. PEEL
and his friends must give mature consideration,
to occupy Parliament for at least a dozen years.
The registration of electors in Ireland. must be,
as Lord STANLEY has asserted, attended to; the
Registration Courts of England are a nuisance,
by common accord ; the franchise, as at present
settled, is terrifically unpopular and inadequate ;
the Church, in its middle state, of not enough
and too much, cannot be left as it is ; the Church
of Scotland is in a condition of quasi rebellion ;
Corn and Provision-laws, sliding scale and fixed
duties, sugar duties, timber duties—of which the
shipping interest out of London begin to com-
plain most bitterly and justly—with many other
equally great questions, pressed for consideration
before the affair of the Exchequer bills was,
and still press for consideration after it has been,
discovered. What further calls will be made
on the Government besides this and the provi-
sion for the burnt down arsenal, time must bring
forth ; but enough has already transpired to
prove that Sir ROBERT PEEL has cut his mea-
sures too fine by postponing legislation on the
most pressing questions of finance and commerce
till February, expecting then to have tune and
opportunity calmly to discuss them.
We cannot even say that much progress is
made in giving satisfaction to the public on
the subject of the Exchequer bills. It is
perceived and said that the stamp will be no
security, for that may be imitated and forged as
soon as seen, and will only serve to give validity
to the fictitious bills. People who hold doubtful
bills will not carry them to the Exchequer on the
chance of the bills being detained, particularly
as it is said that the adjustment of the bill with
the counterfoil is not a certain test of spurious-
ness or reality, and they will, nevertheless, make
their claim on the Government. The process of
verification of such as are carried to the Comp-
troller's Office, is extremely slow, and no person
can foresee when, if ever, confidence in this
security will be restored.
The public anxiously look, too, for some deci-
sion on the part of the Government relative to
its responsibility. A SLETT'S case, it is justly
said, throws no light whatever on Mr. SMITH'S
case, and the law regarding it is held to be ex-
tremely doubtful, which detracts from the value
of the genuine security. All the proceedings,
too, are secret, and nobody knows, except by
surmises and conjectures, who are concerned in
the extensive fraud. Suspicion and distrust are
nourished by this mystery in conducting the in-
vestigation, so opposed to our customs; reputa-
tions are whispered away, and private credit, on
which so much depends, as well as public credit,
receives every day a severe blow. The longer
the settlement of this unexpected occurrence is
delayed, by the dilatory proceedings at the
Treasury and at the Exchequer-office, the
severer will be its influence on credit, and the
more it will add to commercial embarrassment.
Since the first issue of Exchequer bills, towards
the year 1696, no such blow has been inflicted on
this security ; and, now that they are tainted,
they infect other species of paper. Suspicions
are whispered that shares in Joint Stock Compa-
nies, and a variety of other negotiable securities,
may be spurious, as well as Exchequer bills. If
the Government, with all its power and precau-
tions, could not guard against forgery, how can a
private company, whose servants are poorly
paid ? If you cannot trust gentlemen, with al-
most princely incomes, whom can you trust ?
Wide-spread and deep are the suspicions to
which Mr. SMITH'S conduct has given rise; and
the whole subject, for the sake of public and
private credit, cannot be settled too soon. The
Government must hasten to make its own views
known, and it must cease to carry on its inquisi-
tions into a great offence in secresy. An open
investigation, before the ordinary tribunals, is
alike due to the public and the persons implicated.

According to an observation in the Morning
Herald on Saturday, our national policy at pre-
_

sent is opposed to our population swarming off
into the United States. Our Contemporary said—
" The permanent opening of our ports would doubtless
divert the stream of emigration now flowing from the
United Kingdom to our own colonies towards the north-
western States of America, and thus beget greatly in-

creased supplies from that quarter. In this prospective
diversion of British emigration to the United States
there is another formidable argument against a free trade
in corn. Such a trade would by this means be destructive
of our colonial progression and prosperity. And it cannot
be denied that in the present position of our relations
with the republic any augmentation of its population, at
the expense of Australia or Canada, is whollyppposed to
our national policy.
" The wild and glowing descriptions lately made by a
republican orator to the goubemouches of Manchester and
Leeds of the States we have named, ought to be regarded
only as puffing advertisements for the sale of lands therein,
and crimping tricks for the emigration thereto of British
labour."

National policy of course means the policy
which is pleasing to the ruling classes, or mainly
the landlords, and, according to the Herald, they
are at present opposed to our starving people
taking refuge in republican America. To open
our ports, it is admitted, would direct emigration
to the United States, which would provide a li-
beral home for such of our population as chose to
go thither, and " beget greatly increased. sup-
plies" of food for those who remained in Eng-
land. The people would not go thither, it
is clear, unless it were advantageous to them :
and it is equally clear that for some to go
thither would he advantageous to those they
left behind. Both would be provided with
food, and both those who went and those
who remained at home might rear families in
comfort. Who or what prevents this great acces-
sion of happiness and strength to two branches of
the same human family ? The landlords, who will
not open our ports. The landlords who, jealous of
some rival aristocracy, or fearful of the growth
of republican America, call it a national policy
to keep our people from going any where except
to Australia or Canada, where they may continue
to toil for behoof of the landlords and their sup-
porters. These distant colonies form a portion
of the territory which the landlords govern, and
thither only will they, if they can help it, suffer
the toiling people to repair. This is carrying
the power of the aristocracy to a most exorbi-
tant length. It betrays a desire and a determi-
nation to keep the masses in a state of depen-
dence, in which they must labour, as if serf-
dom still prevailed, regardless of their own hap-
piness, to promote the wealth and greatness of
the landlords.
But have those who maintain this system

Sir ROBERT PEEL has evidently drawn his
policy too fine. He has either forgotten, or
never learnt, that admirable maxim of DAVID
HUME, to the effect," that in schemes of general
policy you should always leave a large margin
for contingencies." Sir ROBERT put off the con-
sideration of financial and commercial reform
till February, that he might have nearly all the
intervening period to study those subjects. The
least observation of recent Parliamentary his-
tory must convince every man that each recess
Own work for each Session, and
brings its
that Parliament is already overwhelmed with
a (neater arrear of business, whether it
be set down in the paper or not, than
the Court of Chancery. What. may hap-
pen between this and February to engross
the immediate attention of Parliament when it
meets, mortal man cannot say ; but this we
know, that the forgery
of Exchequer bills by a
Government officer, a thing which we believe
never happened before, has completely vitiated
the paper put into circulation by the Govern-
ment, injured its credit, and will compel it to
provide temporarily for the floating debt, proba-
bly even before it attends to commercial and
financial reform.
To the Bank of England, and perhaps to a few
of the largest and safest banks of the metropolis
and in Scotland—so far as they keep in their
coffers only those Exchequer bills which they
have received direct from the Exchequer Bill-
office, in exchange for those they previously
held, and hold none bought in the market—this
Vitiation of the Government paper money may
not cause much inconvenience ; but to the capi-
talists who vest their spare money in these bills
—to the bankers, who have bought them in the
market, and hold them in readiness to meet
demands—to nearly all the monied classes of
the kingdom, who hold portions of the favourite
and hitherto untainted security, the forgery will
cause inconceivable inconvenience. They are
not a class whom a Tory Government can
afford to treat with contempt, as it treats the
starving people at Bolton, Carlisle, Stockport,
Leeds, Paisley, and Manchester ; it must attend
to their complaints, and that will add one large
item to its cares which it wot not of when it
threw over, till next Session, the gigantic sub-
ject of commercial and financial reform.
According to the old Tory plan, which is at
present much lauded by Tory scribes, of getting

considered its consequences ? The statement of
the Herald implies that a great mutual benefit
would accrue to England and America from
Permanently opening ourports. It would give
her a supply of
commodity. It
labour,
would
establishw hic h is hae rme
oas
tsurplus
ficial exchange. For what purpose have the
Red men been chased from the prairies and
the forests, if the hand of the white man is not
to till and use those bounteous gifts of Provi-
dence ? In the United States there are immense
tracts of fertile lands wooing the industry of our
civilized people ; in England there is an immense
number of ingenious, clever men, thirsting'
panting, and, with their families, dying for
land to cultivate. They are invited to go to
America; they would willingly go, but our na-
tional policy, which means the proud and self-
willed determination of the landlords to keep
the population enslaved, or their hatred of re-
publicanism, prohibits them from going. By
what right does the Government thus act?
How can it answer to GOD or its own
subjects for extinguishing so much happiness
or causing so much misery ? With one voice
the whole of England loudly blames Louis
PHILIPPE for the bloodshed which his intrigues
and his inordinate and unjust ambition have
shed in Spain : but the mischief he has caused
is not a tithe so great as the mischief effected by
that fiscal regulation which shuts our ports, di-
verts the stream of emigration from the United
States, and mars the prosperity of two nations.
The comfort of the multitude is not to be sacri-
ficed to what interested men call national policy

or national glory. To •n9,r the prosperity of two
great nations, is to make the Goverintient the
enemy of the human race. From the mo-
ment it assumes that character, it becomes a
question whether it be not the duty of men to
destroy it. Let it persevere in such a course,
and mankind will be constrained to sweep
it away as an unbearable nuisance.

In a Minute concerning slavery in the East
Indies, drawn up by Lord AUCKLAND, dated
May 6, 1841, and recently published, is the fol-

nut that effugion of blood which wa9
apprehended front the sanguinary character ui
the Spanish people. The Illoniteur of Saturday
publishes the following telegraphic despatches:—
" Tin SUB-PREFECT OF BAYONNE TO THE MINISTER OF THE

THE SUN, LONDON, TUESDAY, NOVEMBER 2. 1841.

to Mr. ehrist,Ther. according to the same
veracious authoAlLies, all spcak nothing' hot (i ,:spe
truth, we must be wrong in asserting that the
corn exported to the United States in 1837 was
of foreign growth, and Mr. Christopher must
speak truth in saying that it was of English
growth. If it were of English growth, how came
our people to be so badly off for food in 1837 and
in 1838? The Standard, another and well-known
candidate for Munchausen honours, made the
same assertion as Mr. Christopher, and made it
before him. Unfortunately, too, for Mr. Chris-
topher's reputation for acuteness, as well as ori-
ginality, he borrowed the Munchausen story
from the Standard after it had been refuted.
The Liverpool Albion remarked, more than a
week ago, that every bushel of the 984,334
bushels was foreign corn, which had, for a long
period, lain in bond, and the owners of which,
seeing no chance of its_ being liberated under
the sliding scale, except at a loss, embraced the
opportunity of the scarcity in the United States
to send it thither, as the least of two evils. Mr.
Christopher, the Standard, and Lord Stanley,
are all aspirants to the Munchausen chair; and,
without pretending to decide for the public, we
must give it as our own opinion that Tambof
Stanley has still the best claim to sit in it.
The Standard has made a far more important
discovery than how to set the Thames on fire—
namely, how to preserve public buldings from
fire, and the public securities from forgery.
Economy, according to our severely logical Con-
tempory, set fire to the Houses of Parliament,
and the Royal Exchange, forged the Exchequer
Bills, and destroyed the arsenal at the Tower.
Extravagance, therefore, exorbitant salaries,
numerous sinecures—these things, so dear to the
Tory heart—many public servants with nothing
to do, and at large salaries, is the sure means to
guarantee the public against fire and forgery.
So complete an exposition in few words of the
whole scheme of Tory policy, as "pay an im-
mense army of Tory officials for doing nothing,
and everything will be done that ought to be,"
we never bcforo Inc.t. With. Unfortunately for
the Tory policy, the public revenue will not
admit that it be carried into execution, and the
extravagant, truculent Tories must continue to
see our public buildings destroyed by fire, and
our public institutions assailed by the press, be-
cause they have no longer either the funds or
the power to give effect to their waste and their
tyranny.
THE FIRE IN THE TOWER.—We have received
several additional communications respecting this
unfortunate event, but they contain no news of
any importance. Most of the fire-engines had
left last night, and, in all probability, operations
will be commenced to-day for clearing out the
ruins. We believe the number of muskets in the
armoury was about 100,000, and the loss altoge-
ther—taking into account the re-building of tha
armoury, and making good the arms destroyed,
will not exceed 400,0001.

MONEY and COMMERCIAL NEWS
CITY, MONDAY EVENING.
There was no feature to-day in the English Stock
Market, although apparently less buoyancy prevailed.
The Exchequer Bill business is a sad clog upon the
market. For immediate transfer Consols ranged from
88+ to 881, and for Account from 884 to 884. The New
Three-and-a-Half per Cents. were 984 to 98+, and the
Three per Cent. Annuities 87+. India Bonds were par,
and India Stock 243+ to 244+.
The Foreign Market exhibits very few symptoms of
activity, and prices vary but little. Spanish Active
Bonds to-dav were at 20+ to 204 ; Mexican Bonds 24:1
to 254 ; Colombian, 19 ; Brazilian, 564, being rather
higher ; Belgian, 100, ex -div. ; Russian, 1121 ; French
Five per Cents., 115, which is 1 per cent. advauoe ; and
Dutch Two-and-a-Half per Cents. 514.
The Railway Shares were rather easier of sale to-day,
the principal lines closing at the following quotations :
Great Western were 12 to 124 ; the New 5.-} to 6 ; Bir-
mingham, 66 ; and South Western, 124 to 13+ prem. ;
Brighton were 151 to 15 ; Midland Counties, 17 to 19 ;
and North Midland, 71 dis. London and Westminster
Bank Shares were 11 to 11, and Union of Australia,
41 premium.
(From The Sun of Last Night.)
LIVERPOOL COTTON MARKET, OCT. 30.—Tho intel-
ligence received by the Acadia, has had little or no effect
upon the Cotton Market to-day The sales comprise
about 3,000 bales to the trade, without any change in
the quotations of yesterday's circular.
LIVERPOOL SHARE MARKET, OCT. 30.—The Market
continues uniform without any tendency to improvement.
Grand Junction, 190 191 ; Half Shares, 95+ ; Quarter
ditto, 46+ ; Great Western Half Shares, 544 ; Eastern
Counties Debentures, 74.
.In Bank and other local stocks
nothing doing.
MANCHESTER STOCK EXCHANGE, OCT. 30. The
favourable news received this morning by the Acadia,
of the acquittal of M'Leod, has not materially affected
our market to-day, though an improvement in prices
generally, is anticipated. Some business has been done
in London and South Westerns at 514 ; Liverpool and
Manchester Half Shares at 92 ; Manchester and Leeds
Quarter Shares, 21. 15s. 3d. ; and Manchester and
Liverpool District Bank, at 91. 18s. 9d. ; Manchester
and Leeds Old Shares may be quoted at 134 to 144 dis. ;
Bank of Manchester, 51. per share.
The English Stock Market opened fiat and heavy
this morning. Consols are per cent. lower than on
Saturday ; they are now quoted 894 4 for Money, and
894 1 for the Account,. The decline is chiefly attributed
to the melancholy occurrence of the fire in the Tower.
Exchequer Bills are still without a quotation.
The Spanish Securities also opened flat; the Active
Stock 204 4 ; 'Passive, 41 b; Deferred, 10+ ; Portu-
guese Fives, 171 184 ; Ditto, Threes, 171 18+.
PRICES OF IRISH STOCKS, DUBLIN, OCT. 30.
3 per Cent. Consols
Three and Half Stock 96k 'Grand Canal 5t0ck.........
Ditto Reduced ...... Ditto Debs. 6 per cent... 84}
Ditto New 1830......... 96; Ditto 4 per cent ..
3i per Celt. Debs.
Quebec papers to Oct. 12 have been received. The
number of emigrants arrived there up to the 9th
were 28,175
To corresponding period last year

Increase in favour of 1841
The Hamburgh mail, with the letters and papers of
Friday, has just arrived. Exchange comes i shilling
lower, 13 5 ; Gold the same as before.
The English Stock Market still continues heavy, with-
out any business doing. Consols for Money are quoted
88k 1, and for the Account, 881 sellers ; Three per Cent.
Reduced Annuities are marked 87i ; Three-and-a-Half
per Cent. Reduced, 97* ; New Three-and-a-Half per
Cent., 98i.
The Foreign Market is also heavy. Spanish Stock is
201 ; Colombian, 19; Brazilian, 561; Dutch Five per
Cents. 99.
The Share Market presents no alteration worthy of
notice. London and Brighton Railway Shares were
last quoted at 351. per Share; Midland Counties, 83;
York and North Midland, 79.
Consols, Money, 88R-; Account, 881; Spanish, 2011;
No business whatever doing.
We have just learned that Exchequer Bills will be re-
ceived at the Government Department for inspection
from 10 till dusk, and will be returned, if genuine, on
the following day, receipts being given in the mean time.
CLOSING PRICES.
BRITISH FUNDS.
Bank Stock — t India Stock ........2441
3 per Cent Red. B7a Ditto Bonds — pr
3 per Cent Cons BB* Ditto Old Annuities ... 85i
31 per Cent Red 971 Ditte New Annuities...
New 31 per Cent 9Ba Ex. Bills, 1,000/....21d pro
New 5 per Cent — Ditto 5001 pm
Long Annuities to expire Ditto Small. .
Jan 1860 .. Bank Stock for Acct...
Oct 1859
Jan. 1860. — !Consols for Acct BB4.
FOREIGN FUNDS. . ,
.
Austrian, 5 per cent.... Portuguese, 5 per cent.
Belgian, 5 per cent lOO Ditto, New Ditto —
Brazilian 80nd5.......... 561 'Prussian, 5 per cent.
Buenos Ayres, 6 per cent Russian, 5 per cent ll2/
Chian, 6 per cent...... ,Ditto, Metallic —
Colombian, 6 per cent... 181 Spanish, 5 per cent 2Ol
)itto, 1824
)anis, 3 per cent 7Bl French, 5 per cent.llsf. —c.
Greek, 1825, 5 per cent — Exchange
Mexican, 5 per cent.... French, 3 per cent —f. —c
Ditto, 6 per cent, 1825. Dutch, 2/ per cent. ... 51i
Peruvian,lB2s, 6 per ct.
SHARES
Birmingham and Gloucester Railway (100 p) 551
Bristol and Exeter (60 paid) ......... ... .. 28
Great Western Railway (65 paid)
Ditto New Shares (50 paid 56
Ditto Fifth (4 paid)
London and Brighton (50 paid) 35
London and Birmingham (90) ......... ... .. 156
Ditto Thirds (32 paid) 52
London and South Western
Midland Counties Railway (100 paid)
North Midland Railway ( MO paid)
Ditto New Shares (40 paid)
Ditto Thirds (10 paid)
York and North Midland Railway (50 paid) 79
Ditto New Shares (15 paid)

REPEALERS IN Am ERICA.—An Irish Re-
peal meeting was held in Boston a few evenings since.
One of the speakers stated that the Bostonians had
transmitted no less than 3001. sterling, to the Dublin
Association. Also, that two American eagles of the
newest issue of the mint, had been sent as testimonials
"to two individuals, who distinguished themselves by
their patriotism, in a peculiar manner, at the late general
election in Ireland. The first was to a Miss Munroe, of
Waterford, whose brother was led from his home to the
poll by the agent of his Tory landlord. His sister fol-
lowed him, even to the entrance of the booth of the ribald
Tory party, and the moment she got near enough to
speak to him, elevated her hand, and exclaimed—
" Rembember your soul and your country." The
brother's spirits sunk under her rebuke, and he left
the hustings without casting his vote. The other medal
was sent to a coal porter. While the voting was going
on in Dublin, he was standing in a group, who were
cheering for Daniel O'Connell. Near them was another
group of the Tory party, one of whom became so furious
at the cheers for O'Connell, that he fired a pistol in
among his friends. The ball struck the coal porter in
the hand. As soon as he recovered from the momentary
shock caused by the wound, the magnanimous fellow
raisad his bleeding and shattered limb towards his
assailant, and said; " See there ; but if you will vote for
O'Connell, I will forgive you 1" Struck by the porter's
sublime patriotic magnanimity, the man who fired at
him changed sides, and actually voted for O'Connell.
We can think of nothing in ancient or modern times to
surpass this anecdote.--American Paper.