The Sun.
London, England, 1848-12-26 00:00:00

" Still o'er the crash'd the social car proceeds."

It is not our purpose now to inquire into the ma-
nifold causes why this is so, nor to dwell on the yet
more numerous reasons why it should net be so.
We are merely desirous of calling attention to the
opinions of the French President, on one of
the most important subjects which can engross the
attention of the legislator. Adversity—the adver-
sity which, according to Prince Louis makes us think
of those who suffer—is an excellent preceptor. The
meditations of the prison-house often produce goe I
fruit. When the great BONAPARTR, in the com-
mencement of his military career, was on
one occasion imprisoned in consequence of the
machinations of his enemies, he was found employing
his solitary hours in pondering over the map of Italy,
projecting the plan of his future glorious campaign,
it will be well if the prison-dreams of his descendant
meet with similarly glorious realisations, and the ex-
tinction of pauperism, projected in the dungeon of
Ham, be consummated in the palace chamber of the
Elyti e 9 Nationale.

On Saturday we alluded to the extensive reforms in
the financial legislation of the United Kingdom,
suggested by JOHN MACGREGOR, Esq., M.P., which
appeared to us more desirable than the more recent
propositions of the Hon. Member for the West Rid-
ing of Yorkshi e. It should not be forgotten that,
at the time when Mr. MACGREGOR put forward his
views on financial reform, he occupied the influential
and lucrative situation of Secretary of the Board of
Trade—a situation which he subsequently resigned,
in order to become the free and independent repre-
sentative of a commercial constituency. He unhe•
sitatingly sacrificed his own private interests, and
relinquished emoluments which many would consider
a handsome remuneration for Parliamentary services,
in order to devote all his energies to the removal of
those restrictions which his great experience, and
sound practical knowledge, convinced him were
deeply injurious to his country. He endea-
voured to promote those sound principles
of fiscal and commercial legislation which,
if duly carried out, would render England the most
flourishing and happiest nation of the world, or, to
use his own forcible language, " Far more inde-
pendent, prosperous, and far more rich and powerful—
and with the whole population far less poor, far
better employed—more fairly paid for their labour,
better sheltered, clad, and fed—and more independent
than that, at the present time, of any other country
in the world." These are indeed objects worth seeking.
How different would be the condition of the labouring
classes, under such circumstances, from that which un-
happily exists under the present system of a fettered
currency, and indirect taxation, a system by which
the very life-blood of industry--ea sufficient circulat-
iu a methum—is withheld, and by which production
is
checked
etn y ianrdesipn:Pcets theded budget of the Hon Member
for the West Itiding of Yorkshire is borrowed. from
the Hon. Member for Glasgow. It
is true that the
latter gentleman does not venture
is
to suggest the
from, however the national
1 striking off 10,000,0001. te
expenditure at a single blow.
ared to advocate every practicable re
ui,
parto
ed
upon the most rigid economy consistent with
ti
the maintenance of the national honour
andwth
national safety. Wiaen, therefore, specific
reduc-
tions -
are proposed, he will be found, as he
ever has been, recording his votes in favour of eco-
nomy and retrenchment.

The extension of the probate and legacy duty to
real estate, which Mr. COODEN properly insists on,
was recommended by Mr. MACGREGOR two years
since. He says (" Progress of America," Vol. 11.,
p. 1300), " We cannot defend the principle of mak-
ing personal estate liable to, and exempting real
estate from this duty. This requires an equitable
Adjustment." Both gentlemen, there ore, sug-
gest tin cstabl ishrnent" of this new source
of income. Mr. MACGREGOR, however, recom-
mends that any deficiency in the revenue occa-