The Sun.
London, England, 1841-09-01 00:00:00

the latter turns and rolls about in all directions—now
backwards, now forwards, now sideways, now up and
now down—the lead-like immoveability of the former
will render it impossible for the Conservative Ministry
to advance, and therefore difficult to stand; for the game
of obstruction must now he changed to that of action,
which, if not accompanied by progress, must end in
overthrow. Some of our tontemporarks are pleased to
admire the equanimity, and even the high spirits, with
which we anticipate the accession of our political adver-
saries :to the offices of Government. We confess that
though we have exerted ourselves strongly to keep in
power those who would have promoted the public good,
now that the defeat has taken place, we contemplate
with much composure the use the Tories are about to make
of the abundance of rope that has been awarded them. If
we have watched with interest the political drama, and
been a little disappointed at the denoument, we will not
be prevented from having a good laugh at the farce, in-
terlude,
burlesque, or whatever else the Tory performers
may contrive to make of the afterpiece.
STANDARD.—Ministers last night formally an-
nounced to the two Houses of Parliament the fact of
their resignation—Lord Melbourne in the House of
Lords, Lord John Russell, in the House of Com-
mons. With no disposition whatever to carry politi-
cal hostility further than is necessary, we must re-
fuse to these announcements the praise of grace
or dignity. Lord Melbourne's speech was dry and
short—but short as it was he contrived to make it
disrespectful to the noble assembly to which it was
addressed. He told their Lordships that he and his
colleagues had retired from office. "in consequence
of the vote come to by the other House on Saturday
morning last, which was preckelj similar in terms to
the vote come to by their Lordships at an earl er pe-
riod of the week." This was saying pretty plainly
that the Ministers would have paid no regard
to the vote of the Upper House of Parliament if it had
stood alone. Men may differ as to the necessity of
Ministers possessing the confidence of both Houses of
Parliament ; and, although we for ourselves think the
spirit of the constitution violated by a Ministry retaining
office without the confidence of both, we have seen an
Administration hold office ten years in defiance of the
House of Lords— still, though men may differ upon
this point, all must agree that there was no neces-
sity to affront the Rouse of Lords by reminding
them of their practical feebleness and degradation
under Whig-Radical control : it was, to say the
least of it, a proof of bad taste, and an unhapq
testimony to Lord Melbourne's qualification for
the office of daily political teacher to the Sovereign,
which he is said to have exercised, in cemmen-
dam, with his duties as Prime Minister. Lord John Rus-
sell's speech was longer than Lord Melbourne's, and it
was not less fortunate. The Noble Lord, to be sure, as
the Morning Chronicle says, "appeared to speak under the
influence of suppressed feeling, and was at times quite in-
audible in the gallery ;" and it would be unjust to criticise
severely the words of a man labouring with subdued
anxiety—more so, as they must be imperfectly reported.
Still, some points of the speech have been rescued from
uncertainty by the replies of Lord Stanley and Mr.
Stuart Wortley ; and these points show that the speech
was not framed with becoming candour or good humour.
COURIER.—We should be little disposed to disturb
the self-complacent delusions in which Lord John Rus-
sell indulged on winding sip the opening debate of the
session, but that they involve matters of fact and history
which may not lightly he taken for granted on the one
side or silently conceded on the other. For if allowed to
pass current for sterling truths, which they are not, it
Would seem that the Government so reluctantly devolved
at the eleventh hour upon the more Herculean shoulders
of Sir Robert Peel should reitesent a bed of roses in
Areaaian bowers, instead of the roughest couch of thorn
and thistle' over which tempests are louring or bursting
from abroad, whilst treasury insolvency and public
distress, •the last will and testament of a Whig Govern-
ment, assail its :repose at home. Lord John, indeed,
sagaciously interposed a slight cloud of qualification in
the background, by way of relief, if not drawback, to
the sunny splendours of the prosperous picture of Whig
Administration with its results, on which he was engaged.
" With respect," said he, " to all the operations of the
late Government, which time had brought to a conclu-
sion, their policy has been successful." We have to
learn, however, what are the special operations thus
..4t• to a conclusion. Are they to he found abroad
on. ous career of Colonel Evans in Biscay and
in the vict°l• 4-he tranquil and settled Governments
Guipuzcoa ? Ur in .
of revolutionized Spain a....
Portugal ? Or in Turkey
regenerated, in Egypt submissive .4 her conqueror, and
Syria rescued from bondage under on, despot oninl.v
thet
be delivered over to hordes of petty tyrants? ;,
United States, where a British subject languishes •
irons; where boundary collisions fiercely threaten open
war ; and where British fleets are gathering off un-
friendly coasts like dogs of war upon the slip ? There
have been " operations" indeed brought to a head by
time, which to a certain extent may be conceded to have
been " successful." Such, for example, were the sup-
pression ,of Canadian rebellions and Chartist insur-
rections.

MONEY MARKET anc76l'—fY NEWS

FROM THE MOZNING PAPERS OF YESTERDAY.
TIMES.—The expectation in Mark-lane is that the
averages of wheat returned next Thursday will give the
price at least 71s. per quarter, and that consequently the
duty on foreign wheat will fall from its present rate of
13s. Bd. to 6s. Bd. per quarter. This average will not,
however, it is said, in any degree represent the present
state of the corn-market, as it will have been struck
principally on old wheats alone, while during the last
few days the new wheat has been brought into the mar-
ket, and today in particular there was a plentiful sup-
ply. The new wheats, therefore, will scarcely be repre-
sented in the averages, which it is expected will lull
shortly after their rise. For not only will the quantity
of foreign corn taken out of bond, and the supply of
home-grown wheats, conduce to this decline, but, as the
latter will be of inferior quality, and less in weight will
go to the bushel, there is an additional cause for a re-
duction in price. It is to remedy cases like this, when
the value of the bushel varies according to the quality
of the wheat, that the plan has been sometimes sug-
gested of taking the averages by weight instead of by
measure,- but this has been considered impracticable from
the trouble and delay that would attend the process.
The American papers are all in their turn advocating
the maintenance of "an efficient home squadron," such
a one as they state would protect them against subjection,
and allow them to keep pace with the improvements of
England and France. The New Orleans papers received
to-day broach the same subject, and, pursuing it with
some ardour, say, "We trust the establishment of a
home squadron is the first of a series of measures that
the Whig Administration will maturely consider, in or-
der to establish a judicious systeM of national defence,
While having in view especially the development of our
maritime resources, and the completion of a naval arma-
ment consistent with the wants of our vast commerce
and spacious seaboard." At New Orleans the yellow
fever was, as usual in the months of July and August,
taking off numbers of the inhabitants. The Money
Market wa.4 quiet. The speculators in Texan paper
currency would not pay the prices that had formerly
ruled, premising that the loan would never be completed,
and that if it was, no part would be made available to
pay off the outstanding liabilities of the republic.
CHRONICLE.—By the Hamburgh mail which ar-
rived this 'morning a favourable turn, it appears, had
taken place in the exchange on London in that city on
Friday last, the rates having advanced half a schilling,
accompanied with a decline in gold of 1 mark. This
favourable feature in the exchanges contributed to pro-
duce the advance in the Funds we have enticed above.
It shows that the drain on the Bank has 'in the mean-
time subsided, and that money is likely to become easier
by'the Directors relaxing their stringent action. on the
currency.

The Quebec papers of the 11th of August contain a
copy of the first report made by' the Committee of the
Legislative Assembly on the subject of the currency,
according to the.recommendations of which a Bill had
been introduced into the provincial legislature, which
proposes that all Acts or parts of Acts relating to the
value of gold, silver, and copper coin in Upper.and Lower
Canada, or to the amount thereof respectively to be paid
in payment of debts, and received as a legal tender, or
in any manner relating to the currency, and contrary
to the provisions of this Act, shall be and are repealed.
It is then enacted that the pound currency shall be
such, that the pound sterling, as represented by the Bri-
tish sovereign, of the weight and fineness now fixed by
the laws of the-United Kingdom, shall be equal to, and
such British sovereign shall be a legal tender for one
pound four shillings and threepence currency. Nothing
shall affect the meaning of the Words " sterling," or
" sterling money. of Great Britaie," in past acts or con-
tracts ; but in any future law, contract, or agreement,
the pound sterling shall have the value in currency as-
signed in this Act to the British sovereign. The eagle of
the United States of America, coined before the Ist of
July, 1834, and weighing eleven pennyweights six grains
(troy), shall pass and be a legal tender for two pounds
thirteen shillings and fourpence currency ; and the
eagle coined after the said day and before 1841, weigh-
ing ten pennyweights eighteen grains (troy), shall pass
and be a legal tender for two pounds ten shillings.
HERALD.—The Quebec Papers to the 12th instant,
contain an account of the expenditure and estimated re-
venue of Canada for the year 1841. These tables are
very satisfactory and place the resources of the colony
in a favourable light. The sum required for the public
service is 357,2581. Is. 7d. sterling, in which are included
5,7801. 4s. Bd. for defraying the expenses of forwarding
emigrants to their destinations after arriving in the
provinces ; 1,5001. on account of making a geological
survey of the country, and 60,8801. 13s. I Id. for the in-
terest of the public debt. The income is set down at
383,39 e/. is. Id., of which the amount levied on im-
ports by sea is 181,5801. ; leaving a surplus of upwards
of 26,00(1. Immigration was still on the increase, the
official returns showing an excess over 1840 of 4,540,
the number in that year being 19,074, and to the 7th
of AUgust, 1841, 23,614. Th quantity of flour and
wheat exports from Canada to this country to the 10th of
July was 271,154, bushels of the latter, and 155,223
barrels of the former.

POST.—Money was again obtained upon the oma-
rantee of stock on very easy terms for limited periods.
Tie Corn Market, as had been foreseen, was
greatly depressed, the new English wheats brought for-
ward selling at a heavy reduction on the prices quoted
this day week. The corn jobbers are always found so
resist a coming decline with an obstinacy common to
monopolists ; but the appearance of things to-day fur-
nished the surest evidence of the difficulty in which
they have placed themselves by a too ready belief in the
insufficiency of the home supply.
The arrival at market of samples of new wheat, and
the uninterrupted continuance of fine weather, must
put an end to all apprehension fur the present sea-
son. Some thousand quarters will, no doubt, be
imported, though probably not entered for consumption.
Importation is usually going on upon a scale of magni-
tude varying according to circumstances, but this is, in
itself no proof whatever of a positive deficiency in the

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