The Sun.
London, England, 1848-12-27 00:00:00

THE SUN, LONDON, WEDNESDAY EVENING, DECEMBER 27, 1848.

veyed through the medium of his own enthralling
biography.* DON VICENTE M. DE PEREDA is the
exponent of the aspirations of the Spaniards, and his
exposition is embodied in the form of a brief but ad-
mirably-digested pamphlet.t On a future occasion
we shall revert to the more voluminous work cf the
Neapolitan General; at present our observations must
be restricted to the brochure of the Progressista.
Before entering upon the consideration—first, of
the situation of his country; and, secondly, of the
national aspirations of the Spaniards, Dow VICENTE,
in a few introductory paragraphs, alludes to the cir-
cumstances under which his pamphlet is composed-
His love of liberty, he says, is a love vehement and
instinctive ; and he does not hesitate even to declare
that his sense of the ruin and degradation of his
country is so profound, that he is prepared to
yearn even for the establishment of a despotism, sup-
posing that that despotism were the necessary condi-
tion by which the nation might emerge from the
execrable alternative of the factions which in tarns
effect its oppression and its impoverishment. "La
ruina y degradation en que veo postrado a mi pais,"
he says, "me haria desear aun el despotismo, si el des-
potism° fuera condition necesaria para salir de la
odiosa alternativa de facciones que por turno nos opri-
men y empcbrecen." In speaking thus emphatically,
however, he implies, by the phrase " a despotism," a
strong, irresponsible, and beneficent Government, not
" a despotism at once oppressive and turbulent—
tyrannical in its dominion and anarchical in its insta-
, bility : despotism°, opresivo y turbulento—tyritnico en
su dominio, y andrquico en su instabilidad." No
expression could have been selected, either from the
language of SHABSPERE, or from that of
CALDERON, which would more felicitously define
the character of the arbitrary authority at this pre-
sent moment dominant at Madrid—" a despotism at
once oppressive and turbulent—tyrannical in its do-
minion, and anarchical in its instability 1 " For the
suppression of this odious Administration, the only
effectual means, in the estimation of the pamphleteer,
is the organization of that "national party" which he
has already so well and energetically defined.
Speaking of the degeneracy of the present rulers
of his country, Don VICENTE DE PEREDA asks :
" From what has a position of so much degradation
emanated ? Why does the nation endure a Govern-
ment which thus oppresses and vitiates it ? Has the
Spanish people, then, lost its former elevation of cha-
racter, its valour, and its national pride ? How can
it tolerate a tyranny so base and contemptible ? How
does it come to :pass that affairs have fallen into a
situation so insignificant, so anomalous, so antago-
nistic to the national sentiments ? "—P. 9. The
answers to these interrogatories are only too obvious.
The degradation has emanated from the disunion of
parties. The nation has submitted to the despotism of
the Duke of VALENCIA and to the corruption of the
Duchess DE RIANZARES, because, without relying
confidently upon its own innate energies, it has per-
mitted the pernicious system of foreign interference
—a system which ultimately gave rise to the formid-
able faction of the Afrancesadoes. The Spanish people
have not, in truth, lost their elevation of character,
but they have allowed that character to be insulted
with impunity, they have forgotten for a while the
instincts of their pride and the excitations of their
valour. Base and contemptible though the tyranny
of NARVAEZ has been, the Spaniards hare proved
themselves culpable by the apathy with which they
have witnessed a Prince of the Orleans dynasty en-
tering the Peninsula under the protection of cannon
and dragoons, marrying the INFANTA almost by vio-
lence, and in this manner forcing upon the throne a
foreign and prospective dynasty, in violation of the
Treaty of Utrecht, and solely for the emolument of
the depraved wife of Mustez. Such are the reflec-
tions which must force themselves bitterly upon the
mind of every honest-hearted Spaniard, overwhelm.
ing him with a confusion of sentiments only com-
parable to that of the unfortunate Portuguese who,
in the intrigues of the CABEALS, have beheld a reali-
sation of the fantastic picture of the poet :
The puzzling sons of party next appear,
In dark cabals and nightly juxto's met,
And now they whisper close, now shrugging, rear
Th' important shoulder ; then, as if to get
New light, their twinkling eyes arc inward set.
No sooner Lucifer recalls affairs
Than forth they various rush in mighty fret ;
Whe❑ lo ! pubh'd up to power, and crowned their cares,
In comes another set, and kicketh them down stairs.'

Without prejudging the merits of the question now
at issue in the Spanish peninsula, the people of Eng-
land should listen to the voices of those who express
the oiinions, not of individuals, but of millions—
voices such as those of EscosußA and of OLOZAGA.
Identified with the same class of politicians, that class
which aspires with sincerity to raise the national
character of the Spaniards to its preper elevation
among the peoples of Christendom, DON VICENTE DE
PEEED♦ has a right to claim from all unprejudiced
intellects the attention due to the misfortunes of a
noble, unoffending and abused race—and such misfor-
tunes of a race thus noble, thus unoffending, and thus
abused form the theme of the pamphlet to which
we have referred. This is surely not exactly the
moment in which to treat the misconduct
of a debauched Court, or the misdeeds of an execrable
Administration with any fribbling delicacy—when
we find our Ambassador dismissed with insults more
gross than are elsewhere to be discovered in all the
records of either ancient or modern history. If ever
a nation merited the respect and gratitude of a foreign
Government, that nation is Great Britain, and that
foreign Government is the Government of Queen
ISABELLA. For it was through the English blood
that was shed, and the English money that was ex-
pended, and the English energies that were called
into play for her defence, that the daughter of FEE-
' DINAND VII. was enabled to wear the crown of
PHILIP. And yet it is England alone that IsanELLA
has treated with contumely, it is the English Ambas-
sador alone that ISABELLA has driven from the shores
of Spin, it is the English multitude alone that
Isarsum.a. has most shamefully and flagitiously de-
frauded These are reasons, enow, in all con-
science, why- we should not affect any frivolous
feelings of delicacy. Let the Spanish bond-
holders, moreover, rest assured of this, that
Viscount PALMERSTON is not the man to yield
one iota of their claims, to submit in any one parti-
cular to the insolence of an ungrateful Sovereign and
of an ungracious Cabinet, or to abate one jot of the
dignity of that great country, the maintenance of
whose glory and reputation he has so often shown
himself to regard as the loftiest object of his ambition,
both as a statesman and as a diplomatist. Let the
Spanish bondholders, we say, rest assured of this I
And let some one amongst the numerous patriots of
Spain answer that question which has been so fre-
quently put to ourselves by our private correspondents
—Whether the Conde DE MONTEMOLIN, in the event
of any dynastic change at Madrid, would be pre-
pared to recognise the claims of the English creditors
upon the Spanish Exchequer ?

In addition to the total abolition of the Excise
establishment—with the exception of the duties on
malt and British spirits, which should be transferred
to the Customs—Mr. MACGREGOR suggests other
reductions of a very important character. In the
Customs he proposes the total abolition of the entire
duties, save on the eight principal items, that is to
say, on tea, sugar and molasses, coffee and cocoa,
tobacco, distilled spirits, wines, dried fruits, and
spices. The remaining articles should be admitted
duty free, and a considerable expenditure would be
thereby saved in the collection. In fact, the aggregate
amount heretofore obtained from these sources was
scarcely worth the trouble and expense of collection.
A most vexatious and annoying class of imposts will
thus henceforward be completely got rid of, and the
great principles of free trade will be materially pro-
moted and advanced. Indeed, the doctrine advanced
by Mr. MACGREGOR, " that no article should be
taxed with reference to its origin," or, in other
words, that duties should be levied merely for fiscal
purposes, and not for tle sake of protectipon, embodies
in itself the entire creed of the free-traders.
We next come to the assessed taxes, which, al-
though of a direct character, are so partial and op-
pressive in their operation, and so objectionable in
many particulars, that we hail with the: utmost de-
light the proposition of Mr. MACGREGO.R to abolish
them altogether, with one single exception, viz., the

*" Momoirs of General Pepe. Written by himself."
3 vol.. Bvo. : Bentley, London, 1848.
t" La Situation cuntra El Dtse) Na&onal. Por
Don Vicente M. De Pereda," pp. 46, 8,v0.: Dalton,
London, 1848.

unredeemed land tax. There are obvious reasons
why this latter tax should still be retained. Its repeal
would, to a certain extent at least, subject the Legis-
lature to the charge of a breach of faith towards those
who redeemed their own land tax by paying
large sums of money into the national ex-
chequer. The persons who did not choose
to avail themselves of the facilities that
existed for freeing themselves of this burden,
could scarcely hope that so great a boon could be
granted as a reward for their negligence and apathy.
The net amount of the unredeemed ]and tax produces
1,139,1481 ; the other assessed taxes, amounting in the
whole to 3,245,9191., should, according to Mr.
MACGRXG OR'S views, be struck off altogether, as he
considers them to be "not only inquisitorial and
grievous in the collection, but exceedingly injurious
in their operation, being detrimental to industry and
to the employment of artizans, and the labouring
classes." The truth of the above statement

will be unhesitatingly admitted by every householder,
so far as the taxes on light and air are concerned,
the objections to which are forcibly set forth by Mr.
MACGREGOR, in the following "Reasons for their
Abolition;"—" Being inquisitorial and vexatious in the
assessment and collection—injurious to the health of
the population; being objectionable as regards archi-
tecture, cleanliness, and restricting the employment
in glass, manufactures, of joiners:,who make window
frames, of glaziers and painters, and being a tax
unequal in its assessment, as large houses do not re-
quire the same •umber of windows, in proportion to
rents, as small and middle-sized houses." The other
items, however, are not less detrimental to the com-
munity, although their injurious character may not
be quite so apparent at first sight. Thus, for instance,
the tax on servants, which realises about 200,0001. per
annum, and against which Mr. MACGREGOR adduces
the following reasons, viz.—" Being a tax which limits
the giving employment to servants, and by their not
being employed, the occupation of others is limited, as
cloth merchants, tailors, hatters, shoe-makers, &c., for
their clothing," &c. He also adds, most truly,
" Every limitation of employment, whether of ser-
vants or others, limits industry and increases the
poor-rates." In place, therefore, of this tax pressing
exclusively on wealthy persons, who can afford to
pay for the luxury, it really operates against those
who are seeking to support themselves by their
honest industry, and against the various tradesmen
whose business would be extended by the additional
demand created if this fiscal impediment were
removed.

Again, the tax on carriages is supposed to affect
the rich exclusively, and it is said that the amount
collected (about 428,0001.), does not in any manner
affect the poorer classes ; Mr. MACGREGOR, how-
ever, shows that the " tax is grievous, as it limits to a
most injurious extent the employment of artisans and
workmen. The great proportion of the value
of carriages, of whatever description, and their
appurtenances, being the labour and skill of
coach-builders, coach spring-makers, coach-smiths,
curriers, cloth-manufacturers, coach painters and
glaziers, harness-makers, saddlers, &c. The employ-
ment of carriages creates also employment fur coach-
men, servants, and horses, &c."

Equally cogent reasons are adduced for the
removal of the other taxes. Some are most
inequitable, as where certain dealers are taxed
exclusively for liberty to carry on their trade
or business. The assertion " that the most
convenient adjustment would be to abolish
them altogether, and to substitute a direct tax upon
the profits of all realised property" is thus fully borne
out.

In the stamp duties, which are so unequally
assessed, the smaller operations paying at least ten
times the amount of the larger, Mr. MACGREGOR
advocates "an equitable adjustment of the entire."
He also, as we have already stated, proposes the
abolition of the stamp duties upon fire and marine
assurances, which produce about 1,250,000/. annually.
The reasons for their repeal are, as usual,
perfectly conclusive :—" The stamp duty upon fire
insurances (he says) is annually about double the
amount charged for insuring property. This high
duty not only greatly prevents the insuring of pro-
perty, but property not insured is frequently exposed
to danger by the firemen with their engines not
exerting themselves to extinguish uninsured property,
as they are directed by the company wbo pay them
to take care, in the first place, to preserve the property
insured." And again he says, "On marine insurances
the stamp duty is so heavy and pernicious that a great
part of the insurances which would otherwise be
effected in England are made at Antwerp, Rotter-
dam, Amsterdam, and Hamburgh."
There are sufficient reasons adduc ed against most
of the other duties, but as the approach to a system of
direct taxation exclusively must be gradual, Mr. MAC..
GREGOR does not press for their immediate abolition.
In the Post- office Department Mr. MACGREGOR
asserts, " that as the Government should never pos-
sess a monopoly of trade, the Post-office charges should
be regulated, not with a view to revenue,
but to the purposes of covering all the expenses re-
quired to convey letters and intelligence with security
and with rapidity." We have thus placed the views
of those eminent financial reformers before the public,
and, as we have already stated, we prefer the sug-
gestions of the Hon. Member for Glasgow, not only
because they were first put forward, and probably
formed the basis on which Mr. COBDEN framed his
budget, but as being more comprehensive
in the details, and leading progressively to a better
system of imposts, when " the annual rent or profit
of property would form the whole amount of equitable
taxation, levied upon all that could equitably constitute
the WHOLE NATIONAL INCOME ;" everything that is
found injurious and oppressive will be struck
off in time, and the hiatus supplied by a direct
property-tax; while Mr. COBDEN still allows
the unjust and iniquitous system of indirect
taxation to prevail, and only seeks to relieve in-
dustry—to promote employment—and to extend the
principles of free trade, by the amounts which can be
saved from the national expenditure. We, therefore,
believe that Mr. MACGREGOR has put forward more
statesmanlike views, which will find greater favour
with the great body of the people—with all those who
are dependent on their daily labour for their daily
bread.

Mr. MACGREGOR also makes an important sug-
gestion on the subject of currency by proposing
to save the interest of Exchequer- bills "by the
Exchequer-bill office issuing paper not bearing in-
terest, but being at all times a legal tender—as much
so as Bank of England notes are now."

This is too important a subject to discuss at the end
of an article, but the opinions of the Member for
Glasgow on this point contrast most favourably
with those of the Member for the West Rid-
ing, who sustained by his votes, the Act
of 1844, and the monetary policy of Sir
R. PERL and Sir CHARLES WOOD, in the se-
veral divisions in the Committee on Commercial Dis-
tress, and arrayed himself in opposition to the tried
and veteran Reformer, JosErn Huse, in supporting
the report that was ultimately agreed to by a majority
of two only, the vote of RICHARD COBDEN thus
turning the scale which would otherwise have been
equally balanced.

MDLLE. JENNY LIND AND THE TOXTETH 110S-
PITAL.—What a glorious creature is Jenny Lind!
Though she can obtain thousands of pounds by the ex•
ercise of the splendid gifts with which nature and art
have enriched her, she never refuses to make a generous
bestowal of her services at the call of charity. Call
after call is in this manner made upon her benevolence,
yet each solicitation meets the wished-for response. Her
labours, and their rich results, in London, Birmingham,
and Manchester, are familiar to our readers, and now
she has consented to appear at a concert, in Liverpool,
for the benefit of the fund for enlarging the Southern
and Toxteth Hospital. The response will, without
doubt, be munificent, and assuredly the people of Liver-
' pcol will not be behind any in their appreciation of a
generosity which, in its abundant exercise, is without
parallel. The concert will take place on Saturday, the
6th of January, at two o'clock, at the Royal Amphi-
theatre. It has been arranged that it shall be a day
performance, in order to accommodate the many
wealthy families who reside beyond our suburbs.—Liver-
pool Albion.
PENTONVILLII EXILES FOR THE CAPE OF GOOD
.-2Cha esrtteerrded a vesselaythe of 700
Lords
tonsbh
Commissionersurt of the
of r
th
Ad-
miraltye
conveyance
yaßce of convicts. She will be fitted out at Dept-
ford, where she will receive on board about 100 Penton-
ville exilCs and convicts for Bermuda. On landing the
number appointed to serve their period of banishment,
she will receive on board a certain number of Bermudian
transports,. who, with the rentonville exiles, will be con-
of Good Hop., and landed
ayseyferedetoemSzosni:ticTown, Cape

THE FRENCH REPUBLIC.

We have received the Paris papers of yesterday.

The quei.tien of an amnesty has not yet been de-
cided. The PRESIDENT himself is in favour of the
immediate publication of one which shall include
BARBES, BLANQUI, ALBERT, and the prisoners at
Vincennes, Louis BLANC, CAUSSIDIERE, and all the
insurgents of June, but he is opposed by some of his
Ministers.
It is thought that the new Government will obtain
a working majority in the present National Assembly.
A banquet of French, German, and other foreign
Soeialist democrats took place on Christmas-day, at
the Barriere du Maine. 450 persons were present,
and among them fifty ladies. No representative at-
tended. There were inscriptions to BARNES, BLANQUI,
MESSENHAUSER, ALBERT, BLUM, RASPAIL, LOUIS
BLANC, CAUSSIDIERE, and COURTAIS. Toasts and
speeches of the usual wild ultra character were deli-
vered, and among them one to ROBESPIERRE, COU-
THON, and ST. JUST. The banquet passed off with-
out any disturbance of order.
The Chamber of Commerce of Rouen has pre-
sented the following address to the PRESIDENT of the
Republic :
" Monsieur le President,—The Chamber of Commerce
of Rouen makes it a duty to address to you its congratu-
lation on the occasion of your election to the Presidency
of the Republic. Under the prestige of the name you
bear, M. le President, all parties have given you their
suffrage 4, seeing in you a pledge of conciliation end con-
cord. The hopes of the country will not be deceived,
we are confident; for you have sworn to direct the
affairs of state in the sole interest and by the will of the
law alone. After so many evils, the inevitable conse-
quences of our civil discords, which have so cruelly
affected our commerce and manufactures, we think it to
be the duty of every good citizen to lend a sincere and
loyal support to the Constitution, and we put up our
vows that, without departing from it, elections may
shortly call to Paris a new Assembly, which, by its
origin, being identical with that of the Chief of the
Executive Power, will give to the Government homo-
geneity and strength, without which there cannot be any
stability in our institutions. Such, Monsieur le Presi-
dent, are the sentiments which the Chamber of Com-
merce of Rouen, in the name of the merchants and
manufacturers within its circle, has thought it to be its
duty to manifest on the occasion of your accession to
power; persuaded that, under your Government, we
shall see order restored, with that confidence and em-
ployment so necessary for the prosperity of our indus-
trious populations."
The attempt of the followers of M. CARET to
establish a Socialist Icaria in Texas has turned out a
disastrous failure. After performing a long and fa-
tiguing journey through forests, to their location, they
found the land uncultivated, and nothing prepared for
their reception. They determined unanimously on
the day after their arrival, to abandon Icaria, which
they did, and after walking 120 leagues through
forests, and losing all their effects, some of them
managed to reach New Orleans, and were received
into the hospitals and workhouses of that city.
At the sitting of the National Assembly yesterday,
M. ODILON BARROT, the President of the Council
of Ministers, read the long-looked-for programme of
the New Cabinet. This manifesto alludes generally
to the policy which the Ministry intends to pursue.
It declares that the Republican Government cannot
be considered as definitely established until the
period of revolutions shall have been closed.
It states that the State ought not to interfere
directly, but ought, in the first instance, to
leave the greatest latitude to individual
action. In regard to the Administration, it states
that the Government is determined to substitute the
strict observance of the law in place of the arbitrary
exercise of power. In regard to the relations of the
Republic with foreign States, it declares that diplo-
matic negotiations will be opened with extreme re-
serve. Nothing will be promised which cannot be
performed, and the. word of France would not be
engaged rashly or lightly. The programme concludes
by stating that everything in the power of the Go-
vernment would be done to preserve the peace of the
country and to restore confidence.
This programme was received with marks of great
applause by the Assembly.
M. Ledru Rollin then rose to put same interpella-
tions to the Government with respect to the military
powers conferred upon General Changarnier, Com-
mander-in Chief of the National Guard of Paris, and
of the first military division. He was invested,
AI. Ledru Rollin said, with power contrary to the
Constitution and to the law of 1832. By the powers
given to him, General Changarnier was irresponsible,
and could become dangerous to the liberties of the
State.

M. ODILON BARROT replied that the Minister of
War, and the whole Cabinet, took upon themselves
the responsibility of the granting of those powers.
As respected the question of legality, M. BARROT
made some lengthened remarks, which were fre-
quentlf interrupted by the party of the Mountain.
He defended the measure itself. He defended it on
the ground of the necessity of placing an efficient
power in the hands of one efficient person at a period
when an agitation existed which might still ba dan.
gerous to society.
MINISTERIAL PROGRAMME.

The following is a full report of the important pro-
ceedings which toot place yesterday in the National
Assembly :
At halt-past two o'clock M. Marrast, President, took
the chair, and read a letter from M. Lubbert, a repre-
sentative of the Gironde, who tendered the resignation
of his legislative functions.
The discussion next opened on the proj(ct of law re-
lative to the salt tax.

M. Avond, the first speaker, recapitulated all the pro-
positions made by Members of the Assembly for the
immediate abolition of that unpopular tax, which had
been rejected by the committee charged with examining
them, because of the deficit of 70 millions of francs it
would occasion in the receipts.

The Assembly, however, being preoccupied with other
questions, paid no attention to the speaker, who at last
returned to his seat. _

M. Odilon Barrot, President of the Council, having
appeared at the tribune, silence was immediately re-
stored. The Assembly, he said, had learned the decla-
ration of principles made by the President of the Repub-
lic, in which the new Cabinet fully concurred, and he
now came forward to repeat the same engagements, in
presence of France and Europe. He did not intend
to lay before the Assembly an expose of the situation of
the country, but would give some explanations relative
to the principle on which the Cabinet had been con-
stituted, and the political course it intended to pursue.
The Cabinet was composed of men belonging to the
different political shades that had united in the election
of the 10th of December. The nation had evinced such
an accord, such a spirit of union, that the Cabinet should
respond to it. It would neither be patriotic nor wise to
disregard such a manifestation. The country wished for
order, for material and moral order: order in the streets
as well as in the Administration and Government. That
order could only be firmly established on the day when
the period of revolutionary agitation should be closed.
In strongly constituting the national force it
had given the beat guarantee of its determi-
nation to maintain order, and it had thereby put it out
of the question that it could be disturbed in future.
Security was the first want of all. It was indispensible
that calmness snd confidence in the future be restored,
as otherwise manufactures and trade would not revive.
Symptoms already perceptible showed that the resump-
tion of affairs was not a mere hope but a reality. Agri-
culture, trade, and manufactures had of late considerably
suffered, and cruel sacrifices had been required from the
first (the 45 centimes). The new Cabinet would exert
itself to introduce the severest economy in the public
expenditure, and to impart a salutary impulse to public
works, which was far preferable to their direct exe-
cution by the State. Its efforts would tend to en-
courage individual activity. M. Odilon Barrot then
added that he would not enter on any exposé of the
foreign affairs of France. Negotiations were pending
which imposed great reserve on the Government. All
he could say was, that the Cabinet would not rashly
engage the word of France, and that it would exert
itself to preserve peace as the interest of France end
Europe. In conclusion, he declared that he and his
colleagues would do everything in their power to restore
security, consolidate the Republic, and promote the de-
velopment of the political education of the eountry. The
election of the 10th December had given the Govern•
ment an immense power, and it relied on the patriotic
co operation of the Assembly to enable it to accomplish
its duties.

M. Ledru Rollin next rose and attacked the Ministry
for violating the Constitution by its first act, namely, the
delegation to General Changarnier of dictatorial powers,
which placed at his disposal 150,000 troops, and double
that number of National Guards, leaving him 24 hours
before he was called upon to account for his conduct to
the Minister of War, whose responsibility was not con-
sequently complete, but chimerical. The law on the
National Guard, he said; had also been violated, for it
expressly forbade the centering in one person the com-
mand of the troops and National Guards. He also con-
demned the appointment of Marshal Bugeaud to the
command of the army of the Alps, and the removal of
the head-quarters of that army to Bourges.
M. Odilon Barrot, who stood up to reply, said that
he approved the constitutional and legal scruples of
M. Ledru Rollin, but that they were not justified by
the acts ho had denounced. Tho responsibility of
Ministers was complete, and the Minister of War
could delegate a portion of his authority to a General
the moment he recognised himself responsible for his
conduct. The measure was not dangerous. It was
a measure of foresight, commanded by the situation
of the country. In ordinary circumstances the text
of the law might ,be attended to; but the Govern-
ment had not even thought of consulting that law,
in presence of the difficuties accompanying the tran-
sition from one form of government to another. (Mur-
murs.) M. Odilon Barrot asked his interrupters if the
events which had occasioned so much bloodshed and de-
vast,,tions were already obliterated from their minds, and
if events which had deeply shaken society might not be
reps ated? It was not when hope was reviving that the
Government could neglect the most ordinary inettinrr,s
of precaution. The army which hail already saved France
was still quartered in and round Paris, and, until it was
dissolved, it was indispensable that its commaLd should
be centered in one hand. A cruel experiment taught
the Government how dearly the non-concentration of
that command had cost the country. The Ministry had
been happy to find at the head of the National Guard a

man enjoying universal confidence, of which he was de-
serving by his devotion to the public liberties. His
appointment, however, was merely temporary and
commanded by circumstnees, and the moment the
Government should perceive that the country ha.i
returned to its normal condition, it would revoke the
extraordimry powers with which General Changarnier
had been ir.vestud.

M. Le den Rollin, who followed, maintained that the
consitution and the law had been ♦iolated by conferrirg
on au officer, invested with an active command, the com-
mand of the National Guard. The text of the law was
formal. The Minister asserted that the country was not
in an ordinary situation, and that the Cabinet had not
even thought of the law of 1831. Now, he knew of no
cther exceptional situation than that of the state of siege,
and, from the very admission of the Minister, the coun-
try had returned to its normal condition, and no arbi-
trary measures were justifiable.
M. Leon de Malleville, Minister of the Interior, next
rose and expressed satisfaction at hearing scruples of
illegality in the mouth of a member of the Provisional
Government, and complimented him on that personal pro-
gress.—(Laughter.) He then justified the measure, and
reminded the Assembly that the principal reproach ad-
dressed to General Cavaignac was his neglect in not real
ising the concentration of the command of the military
force. Under the Monarchy it had been united in the hands
of Marshal Lobau and Gerard, and under the Provi-
sional Government, in those of its General, Courtais.
M. Malleville hoped that the present Ministry would be
more successful, and that it would not be surprised by
an emeute for having neglected to adopt proper precau-
tionary measures. The Minister who delegated a por-
tion of his power was answerable for the acts of his de-
legate. The adversaries of the Cabinet should not
lightly charge it with violating the Constitution. Were
he (M. Malleville) to direct such an accusation against a
Minister, he would demand his impeachment.—(Bravo.)
M. Charles Dain next rose and said, that M. Malle-
vine had no right to attack the Provisional Government
in presence of an Assembly which had solemnly decreed
that its Members bad deserved well of their country.—
(Laughter.) The dictatorship exercised by that Govern-
ment had been sanctioned by the people.—(" No, no,"
from all sides of the House.) He then repeated the ar-
guments adduced by M. Ledru Rollin against the ap-
pointment of General Changarnier, and said that the
reference to Marshals Lobau and Gerard was not a case
in point, as they were not in active service.—(Loud
murmurs and laughter. A voice from the right ex-
claimed, " Marshals of France are always in active
service.")

Two Members, MM. Degous6e and Ducoux, next
proposed an order of the day, stating that, considering
the powers conferred on General Changarnier were
merely temporary, the Assembly passed to the order of
the day. The friends of Ministers, however, having
moved the order of the day pur et simple, it was adopted
by a large majority.
The Assembly afterwards adjourned.

BOURSE.—Peurs, TUESDAY, DEC. 26.
THREE O'CL, ex.—There was a fall to day of a franc
in the price of the French Rentes, produced principally
by the fears entertained that the debate in the National
Assembly on the affair of General Changarnier would
tend to weaken the new Ministry. Railway Shares were
steady, and there is a considerable rise in some of them.
Exchange on London (30 days), 25 30; ditto (90 days),
25 22k.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
_ LONDON STOCK-EXCHANGE, Dec. 26.

Boulogne and Amiens, EX—Central of France (Orleans
and Tierzon), B—Luxembourg (100, 214—Northern of
France, B—Orleans and Bordeaux, 2%—Paris and Rouen,
19%—Paris and Strasbourg, 3.

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool yesterday were esti-
mated at 4 500 bales, and in elude 3,500 American; 300
Bahia at 4i.1. to 5(1.; 100 Egyptians at sjd. to 6id.; 200
Surat at 31. to 31(.1.; and 40 Sea Islands at Bd. to 9d.
The market el, s( d heavily, and prices had a declining
tendency.—Railway shares were firm generally.
The accour,ts received from France are still of a satis-
factory character generally, and although the debate
upon the affair of General Changarnier had occasioned
some reaction in the Rente, it does not appear that any
positive uneasiness existe. The quarters to which we
most now chiefly look for events of interest, are Italy
and Denmark, and, in relation to the latter, it
may be remarked that there are doubts expressed in the
letters received as to whether an amicable arrangement
will be effected. The winter season usually suspends
military operations, but the freezing over of the Belt
would afford an easy passage to the troops, the assembling
of which at Hareburgh, and on the Hanoverian frontier,
is not considered a very pacific indication. The detri•
went to commerce Curing the last struggle was so
great that we are not surprised to hear of the
anxiety expressed in various quarters as to the
possibility of the war being renewed. One or two cases
have been mentioned to us in which vessels have been
ordered home from the Baltic, as a measure of pre-
caution.

The same appearance of quietude as for some days
past is observable in the City walks, and this being a
" broken week," very little activity is expected. The
Corn trade is steady.
From the manufacturing districts we learn that busi-
ness was blacker, the late advance in the raw staple
having an effect iu restricting operations, although, no
doubt, the holidays were more influential.
The transactions in the Funds have been very limited
to-day, but the market opened well at an advance to
88-1- 89. Subsequently the French prices came lower,
and there has been a bargain in Consols at 88k. Bank
Stock has been supported at 191. Exchcquer-bills have
realised 395. to 425., and India Bonds 375. to 40s. pre-
mium. The New Three-and-a-Qaarter per Cents. have
been 89* to 89-a.
The Foreign investments have been rather fluctuating,
though there have again been a good many transactions
in them. Mexican, after touching 25*, have receded to
24i ii-. Equador have been 24 i, and Grenada 13. Bue-
nos Ayres Stock is 23i. Spanish Active Bonds have
been 14* to i, and the Three per Cents. 28 to 28i.
Portuguese Four per Cents. are nominally 26 to 27,
Russian Bonds have been at 102. Dutch Two-and-a-
Half per Cents. are 491. There has not been a bargain
in Peruvian. The committee are in communication with
Senor Osma respecting the terms offered for a settlement
of the bondholders' claims.
Railway Shares have been generally higher to- day,
but it is remarked that Eastern Counties still hang
heavily, and inquiries continue to be made as to the
cause. North-Western, Midland, the York lines, the
Great Northern, Caledonian, and North Stafford, have
improved. French Shares are rather higher.
ONE CLOSING
PR'I'ES OF isRLITISII FUNDS. O'CLOCK. PRICES.
Bank Stock
3 per Cent. Reduced Ar.ns BB% 89 88% 88%
New 314 per Cent. Aims.— , 89%%1/s 89A
t.ong A nns. to expire J an. 1860
India Bonds, 1,000/.
Ditto under 1,0001...
Consols for Account., B9 831/ 883/4
Exchequer Bills. 2%d. & 2d.
1,0001. March ......
1,0001. June
5001. March....
5001. June
Small, March .. 39 42 p 42 p
Small. June
PRICES OF FOREIGN FUNDS. ONE CLOSINi.
O'CLqCII. PRICES.
Buenos Ayres Bonds, 6 ner Cent. 231/.2 231/,
Equador Bonds
Grenada Bonds, 1 per Cent.
Ditto,' Deferred 21,4% 2%
Mexican, 5 per Cent. 1846 25 25% 24%.% 24%
Ditto, Account ... 25% 251/8
Peruvian Bonds, 6 per Cents — 44
Portuguese 5 per Cents. —
Ditto, 4 per Cent —
Russian Bonds ... ...... - . lO2
Spanish 5 per Cent. 1840.
Ditto, Passive
Ditto, 3 per Cent ... .. ...... 28 28%
Venezuela Bonds, 21/4 per Cent... 18%
Dividends on the above payable in London.
Belgian 41/ per Cent
lmteh 2V2 per Cent., 12 Guild.... 49%
Ditto. 4 per Cont. Certificates

26
103
14
28%

76
49%
75
PRICES OF
PAID. BUSINESS DONEPAID. CLOSING
RAILWAY SHARES. AT ONE O'CLOCK. PRICES.
Aberdeen SO

Amber. Nott., Boston,
and Eastern Junction 414
Ayrshire and Galloway.. 71-h
Belfast & County Down 19
Birmingham and Ox-
ford Junct., calls duly
paid, cr with a guaran. 20
Do, withoutguarantee 20
Birming, Wolverh'ton,
and Dudley, calls duly
pd, or with guarantee 10
Dr :,thoutr

'o. without guarantee
Birming.,Wolverh'pton,
and Stour Valley 131. 145... ...
Birkenhead, Lancashire,
and Cheshire June—. 10 ...... ........ .......
' Poston Stamfd & Birm. 5 ... .. 3 341
Bristol and Exeter 9O ... .. 57
Ditto, 1 birds
1'; uckinOlamshire... 141. 4s.
Caledonian -.. ......... 50 ...... 2214 21%
Ditto, Half Shares .. £34...... 11/ ll/2
Do. New 101. Prof 714... ~ 7:% 73
Ditto,Cl3 desdaleJunc 50
Chester and Holyhead... 50 ......
Ditto, Preference ls
Clarence
Do. Ist Class, 6 per Ct. 10
Do. 2d Class, 5 per Ct. 10

LO -

. .
Do. Government Loan,
4 per Cent.
Direct London & Ports-
mouth
Dublin and Belfast June 35 ...... 2
Dundalk & Enniskillen 20 ......
East Anglia, 251., L. &
E. and L. and D...... 25 ......
Do., 181., E. & 11.... 18 .... .
Do., 3/. 10s.
' Eastern Counties,.. ..... 20 12 11%
Do. New Guaranteed
6 per Cent. ..... 10
Ditto,Extension,s per
Cent., No. 1 6L 13s. 4d....
Ditto ditto, No. 2...61. 13s. 4d...
Do. North. & Eastern 50
Do., 5 per cent.
Do. Quarters 12% —
Do. New
Eastern Union, Class A
(late E. U. Shares) 25
Ditto, Class A, ditto... 1
Ditto, Class B (I. &
and B.) 2O
Ditto, Class C, ditto... 20 .
Do. Scrip (6 percent.) 10 ~,...
Ditto, ditto
Ditto (C. & E.) guar.
5 per cent....,....,. 21
East Lancashire ......... 25
Ditto, New
Ditto, New Quarters 614 — ...
Do., 6 per Cent. Pre-
ference Quarters ... 61,4 ......
East Lincolnshire
Edinburgh and Glasgow 50 ..-
Ditto, Half Shares ... 20 ..
Edinburgh and Northern 25
Ditto, Newport
Exeter,Yeovil, & Dorch
13r1a3gow, Dumfries, and
Carlisle ....... ..8/.65. 8d.... .......
Glasgow,Kilmar., & Ayr 60 ......

D(7.Preference .Consul.

Great Northern
Do., -1/2 A Deferred ... 12%...... 4N3 5 .....
Do., ', B 6-per Cent.
guaranteed ..... 614. 4%
Do. Extension 2 j 2...... •••••
,heat South. and West.

(Ireland)
Great North of England.loo ... ••
Ditto, New, 401 4O
Ditto, ditto 25
Ditto, New, 30/ 3O
Ditto, New, 151 l4 .. .. ... ...... ••• •••
Great Western 9O ..... 80
Ditto, 1,4 Shares
Ditto, 1% Shares
Ditto, Fifths... ........ 20
Ditto, New 171— .. .. 13
Huddersfield and Blanch. 30

Ditto, Thirds
Liull and Selby
Ditto, Half Shares
Ditto, 14 Shares
Lancaster and Carlisle 5O .....
Ditto, Thirds
Lancashire & Yorkshire 93
Ditto, ditto

Ditto, ih Shares ...... 43 ... ..
Do. Quarter Shares... 171/2 — •••
Do. Fifths ... 10
Do. Sixteenths 614 —
Do. Thirds (Reg.) l3 •• ..•
~.

Do. New,GUa.trperct. 7'4 —
Do. Liverp. and Bury 43
Ditto 1/2 (late Hud-
dersfield and Sheff.) 43

2%
11%

52%

171,4

-
8%

80
45%
17

101%

-
6%

8%

Do.(Wakefield,Ponte-
tract, and Goole) ... 50 „, ,
Do.( W. Riding Union) 7 „.. .....
Do. (Preston & Wyre) 25
D 0.% Shares(A)... •
Leeds and Bradford 5O
Leeds, Dewsbury, &c.... 50
Do., Half Shares
Do., (blue) Scrip.--
Leeds and Thirsk
Ditto, New ...... ....... 35
Do., Prefer., 6 per Ct. 3%......
Liverpool, Crosby and
Southport . 31,2 _
Liverp., Manchster, and
Newcastle Junction... 21,4
London & Black we11...13/. 68.8 d —
Do. Extension ..... • ...............
London, Brighton, and
South Coast
Do.Guarant.s per et-, 9 ......
Do. Pref. Con. 5 per ct. 50 ..
Ditto, ditt0...... 1852 50
Ditto, New Si., guar.
6 per cent.
London and Greenwich 12/15s 4d — ......... •
Ditto, Preference...-. 20
London and N. Western 100 124 125 123...... 123
Do Quarters (L. & B.) 22
Ditto, New
Ditto, Fifths ..... .. 2 ......
Do. 4t./.ehares(L.M.) 25
Do. 10/. (M. & 13.) A. 9
Do. 10/. (1.14. & 13.)B. 9
Do. 101. (111. & B.) C. 1
• • • •••••
Lond. &S. Western SO
Do. New 501. ..... 42%..

31%

8/

4~
~ .M

Do. New 40/ . 84
Do. Tenths (Consol.) 50
Ditto ditto ....,.... 40
Ditto. Thirds.. ......134 6s. 8d 4% di5..... ..... 4% dis.
Do.. New Scrip, 1848,
P ef. 7 per Cent. on
Deposit, and 5 per
Cent. on Calls -
London, Salisbury, and
Yeovil .....-.. ....... 1%...... - -
Londomierry&Gol;raine 283/4. — ....
Londonderry and Ennis-
killen .. ... 27% ...... ... ..... ..... --
Lowestoft (4 per et ) ... 20
Ditto (6 per et.)
Manshester,Buxton,and
Matlock 4 —
Manchester, Sheffield,
and Lincolnshire...loo
Do. Quarters (No. 1) 18
Ditto ditto (No. 2)... 25
Ditto ditto (No. 3) ... 114 — ..... -... ...
Ditto, New 10/. Pref... 10
Ditto, Gt. Grimsby ... 40
Ditto ditto . ....
Ditto ditto
Ditto Sheffield and
Lincolnshire l5 ~ ...
Do., Grimsby Dock 2O
Do. Manchester and
Lincoln Union..... 41.2 s —
Midland ...100 ..... 84 85 83%.. -. 83%
Do. Consolidated Pref.loo ......
Do , do., 501. Shares... 20 ..... 113/4 12% 11% 11%
Do. Birm., and Derbyloo
D...Consol. Bristol and
Birming., 6 per ct.... 100
Ditto,Brist. & Glocstr. 38 ...... .-..
Ditto, ditto ... .. 144 185....
Ditto,Leicest.& Swan-
nington, 8 per ct.guar.loo
Midland Great Western
Irish
M i dd I esb ro ' and Redcar,
6 per cent. guar. -
Newcastleand Carlisle-100 , — ••--
Do. Quarters 25
Newmarket ... . .. 20 .--.
Do. Extension . ..... ...24 125....
Newport, Abergavenny,
and Hereford 6 ...... am.
Nowry and Enniskillen 7
Newry, Warrenpoint,
and Rostrevor .. 20 - '—
Norfolk . .. ... 100 - ..• •• —
Do. New 20/.
Do. Guaranteed 5 p ct. 20
Do. Guaranteed 5% pc. 5 -
Do. do. Waveney Val. 2
Northern Counties Union 4 .....
'orth British 16 7,
Ditto, Halves ..
Ditto, Quarters
Ditto, Extension O% ... ••
Ditto, Thirds ........ 84 ....
North & South-Western 2 . —
NorthlStaffordshire
orth Wales
North-Western .... ...... 10
Oxford, Worcester, and
Wolverhampton
Reading, Guildford, and
Reigate
Royston and Hitchin ... 2
Scottish Central
...... ....-..• I ~.-.•
Scottish Midland 25
Ditto, New
Sheffield, Rotherham, &
Goole (Nor. Div.)
Do. do (Sou. Div.) ... 4 .....
Shrewsbury and Birm— 9
Ditto ditto. Class B. 5
Ditto, New Guaranteed 6
Shrewsbury and llerefd. 2 ......
Shrewsbury & Chester
(Nor. W. Min.) l 7
Ditto Halves ... ditto 8% —
..... .........
Ditto Oswestry ..... 173/4
Ditto New
Do. 8 per Cent. Pref lO ..
.
Shropshire Union
South Devon
•••
Do. Preference
south Staffordshire 81,4 l3/4
&tin Eastern
Do., No 1 24 - Do., N 0.2.
Do., No. 3 ....... ...... 25 ...... 153/4
Do., No. 4 Thirds ... 10 ..... 74 %
South Wales
South Yorkshire, Don-
caster, and Goole 5
Swans. & Loughor & Ca-
meron's Stm. C0a1.... 6
Taw Vale Extension ... 8 - ...... •••
Thames Haven Dock
and Railway .... 17% —
Vale of Neath ... ...... 4
Waterford and Kilkenny 17% Waterford and Limerick 47% —. ..
Watertd,Wxfrd,Wicklw,
and Dublin ...... 3 •••• • -
Wear Valley 6 per Cent.
Guaranteed ... .. ...... 50
Do. do. do. ... 25
Do. do. do. ... 10 ..... - ... ..... ,
West Cornwall ....
West London
Do. Do. Ist Class ... 20 •
Do. Do. 2d Class 20
Whitehaven & Furness 14
Windsor, Staines, and
South Western ..... ... 12
Wilts, Somerset,& Wey-
mouth ... 40
fork, Newcastle, and
Berwick. - 28%
Do. Original New and

-
]O%

_~

1%
23%
101,4
15%

28q

28

BerwlA .. ...... ... .. 25 ..... 26%:!4 14
D. Extensiox No. 1. 15
Do. do. No. 2. ..... ... 15
Do. G.N.E.Preference 8
Fork and North Midland 50
Ditto, Preference
1;(. Last and W(-,st Rid-
ing Extension
FOREIGN RAILWAYS.
Anglo Italian (late Ita-
lian and Austrian).... 6
Boulogne and Amiens... 20 ...... 834 A, %.....w
Central of France (Or-
leans and Vierzon) ... 17
Ceylon
Demerara ls
Dendre Valley 4
Direct Bombay and
Madras ss. . ...
Dutch Rhenish ......... 71,i... .. .. ...... ....
East Indian 314 — ...... - .....
Great Indian Peninsular' 14 —
Louvain ala Sambre ... 7'4 —
Luxembourg...
Ditto ..
Madrid and Valentia... 2
Namur and Liege ...... 20 ... ..
Northern of France...... 12 : —
Orleans and Bordeaux... 7
Paris and Lyons ll ..... ..
Do. Do. . lO —
Paris and Orleans
Paris and Rouen ..., ,20 ..... 187 a
Paris and Strasbourg ... 9
Rouen and Havre ...... 20
Sambre and Meuse 2O ... ..
Strasbourg and Basle ... 14
Tours and Nantes .. 9 ..... 1%
Tournay, Juibise,, Lan-
den' and Hasselt ... -.. 20 -
West Flanders ..... - ..... 834 .....

8%

JOINT STOCK BANKS.
London Joint 5t0ck...... 10
London & Westminster. 20 ......

MINES.
Anglo-Mexican lOO
Asturian Mining Cora— 14
Australian. 2%
BrazilianCoeses&Cuiaba 30
Do. St. John Del Rey 15
Cobra Copper
General Mining ...... .. 20
Real Del Monte, Unreg.
Do. Black Debentures —
Do. Red Ditto ... .....
Santiago de Cuba lO - - sloe* ..... ••
United Mexican 28%

2'4

lees

154

. . -
4%

....
31i

LLOYD'S SHIPPING.—(THIS DAY.)
LONDON, DEC. 27.—Wind this day at noon,‘W.S.W..
light breeze and fine ; greatest pressure of wind, since
yesterday at noon, 3k lbs. Barometer 30.19, thermo-
meter, 48.:
WIND AND WEATHER, THIS DAY, 9 A.M.
Colchester S.W., fine
Glasgow
Gosport
Hull
Lowestoffe
Newcastle W., cloudy.
Portsmouth
Yarmouth S.E., cloudy.
HARWICH, DEC. 26.—A large full.rigged ship, oa
shore on the Sunk Sand, was boarded by the Scout,
revenue cutter, 23d inst., when two goats and five pigs
were found alive, but no human being; mast all broke,
and lying across her decks, full woman-head gilded,
painted ports, supposed to be from Hamburgh or Hong*
Kong, laden with a general cargo, some of which has
been landed. A schooner is reported to have been to-
tally wrecked on the Long Sand, on the 22d inst.;
crew supposei to have perished.
LOWESTOFFE, DEC. 26.—The Hearts of Oak, was
driven on shore on Newcome Sand last night, sunk, and
has become a total wreck.
CORE, DEC. 23.—Arrd. Lightfoot, Parke, Quebec;
Euterpe, Koning, ditto; Bangalore, Parsons, New York.
NEW Ross, DEC. 21.—Home, Windgate, Baltimore.
DEAL, DEC. 26.—Arrived from the river, Rotter-
dam, Batavia; Euphro sync, Calcutta; Sir George Sey-
mour, Adelaide; Augusta, Algoa, Bay; Heroine, Cape
of Good Hope; Tropic, Barbadoes; Yorktown, New
York; Ennerdale, Balliston, New Zealand; Champion,
Pallot, Cape Coast Castle.
RAMSGATE, DEe. 26.—The Lady Robilliard, London
to Guernsey, has put in here with loss of rudder, &c.,
having been ashore near the North Foreland.
NEWCASTLE, DEC. 26.—Wind S. to S.S.E., strong
gala with rain.— The George, on the Rocks of Tyne-
mouth, is bilged, but should the weather moderate may
be got off.
GLOUCESTER, DEC. 26.—S1d. Acorn, Sydney.
PORTSMOUTH, DEC. 26.—Wind S. to S.W.—Arrived
Saline, Sullivan, Baltimore. Off port, Doggersbank,
Batavia, for Amsterdam.
BIDEFORD.—SId. Kathleen, Cuba.
ABERYUTWITH.—Arrd. Grace, Hutchison, Quebec.
LIVERPooL, DEC. 26.—Wind S.W.—Arrd. America,
Dunn, New York; Peter, Marcy, New Orleans. Sld.
El Dorado, New Orleans ; Sarah, Parker, Savannah ;
Celina, Africa ; British Princess, New Orleans ; Sir
Harry Smith, New York. The Thames, from Bridge-
water, on shore on the 15th inst., on Crosby Point, has
got off and been brought in here.
WELLS, DEo 26.—The Three Brothers, of Rudkis-
bing, for HO', got on shore this morning on the Wool-
pack Sand, oil Hanstante, and is now waterlogged,
but little of her cargo is expected to be saved. Crow
'saved.