The Sun.
London, England, 1846-01-24 00:00:00

-11-11/6

LONDON, SATURDAY. JANUARY 24, 1846.

The Lords did not sit last evening.
The Commons assembled at Four o'Clock.

I❑ answer to a question from Lord Jour; RUSSELL,
It was stated by the CHANCELLOR of the EXCHEQUER,
that he could not consent to any alteration of the stand-
ing orders regulating Railway depsits.
Mr. MANGLES complained that the CHANCELLOR of
the EXCHEQUER had taken a very one-sided view of
the question, which affected not only railway share-
holders, but all merchants and traders.

Mr. MASTERMAN also considered the reply of the
CHANCELLOR of the EXCHEQUER as very unsatisfactory.

After a few words from Mr. S. CRAWFORD,

Sir R. PEEL suggested the propriety of postponing
the question until after Monday, and the subject
dropped.
On th© motion for bringing up the report on the
Address.

Mr. COLQUROUN rose, and in a long speech attacked
Sir B. PEEL, and defended the cause of protection to the
lands d interest.

Mr. liumE expressed his satisfaction at the conduct
of the Government.

Sir R. PEEL said that in pursuing the settlement of
the great question which now agitates the public mind,
on just and equitable terms with that people with whose
welfare his own was altogether bound up, he should not
allow any personal considerations or private motives to
make him swerve from the principles which he -had
laid down.

In answer to questions from Lord J. RUSSELL on the
subject of Oregon,

Sir R. PEEL said that a iroposal had been made by
the PRESIDENT of the United States, in which it was
suggested that a division of that territory should be
made ; but the terms that had been proposed for this
division were so little likely to be accepted, that Mr.
PARENHAM had intimated as much as that the proposal
might as well he withdrawn. Now, with respect to that
gentleman, he would only say, that though he enter-
tained for him the highest respect, it would have been
much better had he transmitted to the Home Govern-
ment here the usual accounts of what had come to his
knowledge on this question. Since then the offer of this
country had been refused on the terms he had stated ; a
new course had been adopted, and it had been agreed
upon to refer the question to arbitration, but no answer
to that offer had yet been received.
The O'CONNOR Dort asked if it was intended to in-
troduce any measure for the settlement of the landlord
and tenant question in Ireland ?
Sir R. PEEL hoped the question would be repeated in
a few days, when he would be prepared to answer it.
Mr. BANKES expressed himself at a loss to conceive
what could have been the reasons which had induced
Sir R. PEEL to change his opinions on the subject of
protection. He felt convinced that, when the occasion
should arrive, he (Mr. BANEES) should be able to give,
to many of the facts and statements of the Right Hon.
Baronet, a positive denial.
After a few words from Mr. S. CRAWFORD, the mo-
tion was agreed to, and Sir R. PEEL signified that her
Majesty would receive the Address at half-past two
this day.
Sir R. FREMANTLE obtained leave to bring in a Bill
for the 'extension and promotion of public works in
Ireland.

After which the report was brought up, and the House
adjourned.

The Chancellor of the Exchequer's answer,!on the sub-
ject of the railway deposits, appears to us extremely
unsatisfactory. So far as reasons are concerned, it was
in fact no answer et all. To enable the railway de-
posits to he paid in Exchequer bills, Government Stock
and India Bonds would have no more to do with en-
couraging speculations than Tenterden's steeple bad to
do with Goodwin Sands. The difficulty to be met is
not a difficulty as to getting in money for railway pro-
jeets, but a difficulty as to paying into the Bank
money already got : and it is not the
railway speculators who are interested in the alteration,
but all the moneyedand commercial intereetsof the king-
dom. Not one railway company in difficulty for want
of funds would be helped over the stile by the Chancellor
of the Exchequer's consent to the proposed alteration;
bat it would give a relief at this moment to the whole
commercial credit of the country, and more especially to
the metropolis, and we only hope that it is not necessary
to save other banks from following in the train of the
two northern banks which have lately failed. These
tao banks have failed owing to the difficulty about
railway deposits- They have to thank the Chan-
cellor of the Exchequer. If he had in November given
the assurance which the City deputation desired, there
would have been no alarm or difficulty about the railway
deposit question. The allusion made by Mr. GOULBURN
yestLrday to the railway speculation had nothing to
do
with the question ; and it is rather too hard that the
moneyedinterests of the country should be sacrificed, by
the Chancellor of the Exchequer's ignorance, to a mis-
applied moral ardour.
Hallway companies that have invested their funds in
alproved securities until the time came for paying the
deposits have, under the present law, but to sell out in
order to deposit with the Accountant-General, and then,
after having deposited, buy in again. What is the use,
at best, of this buying in and selling out? But it is not
merely that it is useless, but absolutely. a loss to the
companies, and no earthly purpose of good.
Over and
aboveth eva
ltuhee
obfr brokerage
saegceu
reixtipe es nfsaci sl
aw,n' hde,nwahlel
nar
all
as erlel
baying out,
in again, rises ; so that there is no saying what loss
may not be incurred by railway companies. And this

We have at length some precise information concern-
ing the negotiations carried on at Washington for the
settlement of the Oregon question, and regret to find
that it is anything but satisfactory. " A proposal," said
Sir ROBERT PEEL, " had been made on the part of the
British Minister to the PRESIDENT of the United States,
that there should be a division of the territory, but the
terms offered by Mr. BerellasieN were so little likely to
be accepted, that Mr. PAItENHAM had intimated that
they might as well be withdrawn." The Right Hon.
Baronet seemed rather disposed to blame the British
Minister for not communicating the fact to the home
Government, and asking for further instructions. Many
persons, on the cant: ary, will consider that Mr. PAKEN-
HAM acted with proper decision and spirit. The terms
offered were such as England could not/ accept with
honour. They would have deprived us of the naviga-
tion of the Columbia and ruiasd the Hudson's Bay Com-
pany; they would, in fact, have shut us out from nli
communication with the Pacific, and given every portion
of the territory of the slightest USe for commercial sal
other purposes to the United States. This was a fact
so palpable, that Mr. PAKENHAM rejected the offer at
once, as totally inconsistent with his instructions a. d
wi h what he knew to he the rights of England. And
what now is Sir ROBERT PEEL'S scheme ? To rete r
the matter to arbitration. Tnis has been offered again
and again, and uniformly rejected, and to renew the pro-
posal after such remarkable displays of legislatorial
rancour and hostility to England appears utterly useltss
for any purpose but delay. England has no wish fur
delay; her object is to settle this question at once ; and
as fur arbitration, it would only add to the evil by
placing England in a worse position. Every one knoas,
what time was occupied by the late King of HOLLAND
in deciding the eastern boundary question, and what
was the result. The American Government refused ti
abide by their original agreement, the decision of the
arbiter was rejected, and the work, after a tedious delay
of many years, was to be commenced anew. Can ws
hope for any other conclusion of a second arbitra.-

tion, even if the Americans would accede to it ?
And in the meantime will they be idle ? Wilt
they not be pouring into the Oregon additional settlers,
erecting forts, and strengthening themselves in many
other respects for a rupture ? Could this benefit Eng-
land, or give more effect to her demands ? Quite the
reverse. Even Mr. HUME, so anxious to live on good
terms with America, and so well known for his propel)
city to cut down our naval and military establishment,.
views the question wish an impartial eye, denounces tin
people of that country fur "setting at nought all the rulek,
of civilisation in enforcing their alleged claims," and ap-
proves of such measures as may be necessary to maintain
the honour and character of the nation. "Under existing
circumstances," said he, " I hold it to bu my duty to girt
the Ministers my cordial support in their plans for
strengthening the defences of the country." When a
severe economist, like Mr. HumE, uses such language,
there must bo real danger, and we confidently trust the
Government will not despise it.

Never did a Parliamentary session affJrd a better
opportunity for the consideration of that vast constitu-
tional problem—" Political consistency"—than the pre -
sent. Without doing so in action, the Prime Minister
has virtually walked forth from the midst of his former
colleagues, and seated himself upon the benches of the
Opposition. Nevertheless, in proceeding thus, he has
relinquished his original principles with all hsnour, and
truthfulness, and propriety : to him no single thought
of tergiversation can be ascribed ; his character cannot
be impugned as inconsistent. And in this respect the
language of Mr. DISRAELI, on Thursday night, was
impregnated with veracity—the position of Sir ROBERT
PEEL at this moment is without one solitary parallel ite
the records of history or the experience of nations.
There is, however, something like an antithesis in the
instance of EDMUND BURKE—the antithesis of unneces-
sary desertion, to a candid acknowledgment of error—
the antithesis of a man seeking emolument and place
by a combination with those in power, to one
risking his continuance in office by a secession
from his most influential supporters. As the Right
Hon. Baronet hinted in his explanatory address, the
conduct of a true and patriotic statesman should be ever
directed by an anxiety for the prosperity and happiness
of the people entrusted to his government. No system
of principles, however illusory or specious, should be per-
sisted in under every and any circumstances by a
Minister desirous of discharging his duties without par-
tiality. No sense of personal obligation should in any
particular impede the development of whatever views hi
may consider beneficial to the multitude. No fear of
contumely or vituperation should prevent him from fol-
lowing the dictates of his reason. He should stand apart
from the trammels of party: his principles should be
mculded upon :a gigantic and cosmopolitan scale: his
survey should be enlarged not only to the compass
of all classes, it should extend beyond the
confines e.f his own generation, and calculate
the contingencies of futurity. In all these.
respects, as far as the present momentous question ot
commercial policy is concerned, the Premier cannot
dread the searching eye of analysis. The character
upon this point, tallies to a tittle. There are, however'
some collateral facts in connexion with a great conver-
sion similar to that of Sir ROBERT PEEL, which rendee
the consistency of the individual somewhat dubious. .A
sudden desertion to those against whom, and against
whose creed a Minister had been waging an implacable
and unrelenting ear during the whole of his previous
career, would undoubtedly subject him, and with a con-
siderable show of justice, to the charge of dishonesty,
and the accusation of being unconscientious. In the
present First Lord of the Treasury, however, this
aspersion cannot by the most artful and subtle reason-
ing hold good for an instant. His conversion upon the
subject of freedom to trade, and the abolition of
exclusive protection to agriculture, is not of that
abrupt nature which it may be conceived to
be by the superficial observer. His whole conduct
throughout his Ministerial existence has displayed a
decided leaning towards these ends. He has not aban
doned the protectionists with one sudden bound into the
territory of their opponents ; he has not even to undo
what he had already accomplished, but rather to enlarge
the enlargement he had himself made ; to shake into
ruin the tower and its very foundations, the buttresses
of which he had previously demolished ; to extend the
parole of his tariff into the complete and permanent
emancipation of free trade. If his concessions in regard
to wool, and sugar, and glass, and cattle, and divers other
articles of home industry and foreign produce, had not
in some measure prepared the protectionists for a still
further evidence of his desire to diminish whatever im-
posts might appear to him as arduous and superfluous,
they must have been most miserably shortsighted
indeed. Besides the various gradations we have
enumerated, Sir ROBERT PEEL has shown by his
general bearing a tendency to that grand alteration of
his opinions which he announced with such candour and
simplicity on Thursday night last. It is on this ac-
count, therefore, besides the numerous other conclusive
reasons he himself advanced in his explanation, that we
now regard Sir ROBERT PEEL as a thoroughly conscien-
tious and consistent politician. Had he still adhered to an
impossibility, like the existing corn-laws ; had he per-
sisted in propping up a decayed and rotten fabric, like
the present commercial system—knowing meanwhile its

utter meanness and impolicy—then he might justly have
been branded as a small•hearted, callous, bigoted, and
inconsistent statesman. As it is, ho proves himself to

be the very converse. What to him the vitupera-
tions of a few disappointed men ! What to him
the scurrility of the searchers after aggran-

disement ! What to him the sneers and scoff;
and ridicule of those who are only influenced
through the pocket 1 The laborious days and
nights which, during the recent recess, ho ha,
consumed in planning this act of Ministerial
magnanimity are now being recompensed with fruition
—the fruition of popular gratitude and the applause
every discriminating intellect. With the bitterness and
the spleen of his new enemies he cannot, by possibility,
be affected. However brilliant their animosity may be,
it is contemptible; and in this way the showy onslaught
of Mr. BENJAMIN DISRAELI was but the glitter of a
dying faction. When both the leader of the Opposition
and the Prime Minister himself admit the excellence of
a hitherto unacknowledged principle, their txample
cannot but be imitated by many of their political ad•
harents.

"Oct'lum non curabis sine toto capite,
Nec caput sine toto corpora,
Nee, totum corpus sine animk"

We have received Madrid journals of the 15th. The
discussion in the Chamber of I.Lputies on the At'dress
had not been brought to a conclusion, but the speeches
contain nothing of interest to the English reader. Ac-
counts from Barcelona of the same date announce that
the Political Chief of that city had caused to be arrested
46 individuals, and had them confined in the citadel.

On the Madrid Bourse the Three per Cents. were
quoted at 344, and the Fives at 24, both for Account.

The speech of M. GUIZOT, in the French (Member of
Deputies, in reply to M. TniEas on the relations of
France with the United States, has excited considerable
interest, and nearly all the journals comment upon it.
The speech, which will be found at length in another

part of the paper, forms an admirable reply to the hos-
tile attacks of M. TniEns both on the French Govern-
ment and England. He adhered to his former assertions
respecting the balance of power and the aggrandisement
of the United States. " In a political point of view," said
he, " the unmeasured greatness of that power was a
most objectionable circumstance, as, after having ab-
sorbed Texas, they might turn their views towards
Mexico, and thus destroy the balance of power on the
American continent. The counsels which France had
given to Texas when menaced by the United Statts she
would equally have given, had England shown any de-
sign to obtain possession of that country. France had
used most moderate language, and such as ought not to
give any offence to the Cabinet of Washington. As to
the affair of the Oregon, France most ardently wished
for an amicable arrangement of the differences between
England and the United States; but if, unfortunately,
hostilities should ensue, the policy of France would be
to observe a sirict neutrality."
The Journal des Debuts contains a long article on the
speech, and calls attention especially to t;at part of it
which refutes M. TRIERS' arguments on the subject of
England. " The good understanding between the two
Governments, and the friendly relations between the
two Sovereigns, are not the only fruits," says that jour-
nal, "of the policy of the present Cabinet. Evidence
of a friendly feeling in both nations is to be found in the
journals, and in the various manifestations to which
circumstances occasionally give rise. Even M. Timms
himself is a proof of the admirable change that has been
effected, for he has been received in England with as
much cordiality as if the part that he took in foment-
ing discord when he was last in office had been
entirely forgotten. But, supposing even that the
feeling of discontent and irritation of which M.
THIERS talks, did really exist, to whom would it be
owing ? To himself and his policy." The National
asserts that the. speech of M. GUIZOT was a lame de-
fence of a wretched policy, and the s proceeds to
abuse not only M. GUIZOT, but also M. TmEas, for the
modest feeling that they have both proclaimed to the
Ft ench nation. It is quite indignant at seeing France
remain passive, whilst other countries are increasing their
power and adding to their possessions. The Cannier
Francais condemns the policy of M. GuizoT, and ex-
presses its astonishment at the language which he has
uttered, and which, it says, is degrading to the French
nation. "After having, to please England," it says,
" taken an officious and improper part in the Texas
affair, he anlounces that France will remain perfectly
neutral on the question of the Oregon territory, whereas
it is her interest to prevent either England or the
United States from taking possession of it."
We regret to find from the Paris papers that
the accounts received at Marseillos, of a serious
calamity having befallen a division of the French army
in Africa, are to a certain extent confirmed, but the loss
of life is not so great as was at first belLved. An offi-
cial account of the disaster has been received by the
Government, and is thus abridged in the papers :
" The Minister of War has received a report from Gene•
ral Levasseur, dated Setif, the 10th instant, giving an ac-
count of a melancholy catastrophe which had befallen the
column of men, 1,200 strong, under his orders. The Ge-
neral was returning to Constantine, after several suc-
ceesful attacks upon the rebel tribes, when his troops
were, on the 3d, caught in a snow-storm of such vio-
lence and long duration, that a great number lost their
lives from cold and exhaustion, and a considerable num-
ber reached Setif in such a state of suffering, that they
were immediately placed in the hospital. The General
says that he was not able, at the time of writing his re-
port, to give a correct return of the dead. as many who had
been given up for lost were hourly coming in ; but, according
to a letter from Setif, of the Bth, in the Semaphore of Mar-
seilles, the number who had perished amounted to a hun-
dred, and many of those who had arrived at Setif and had
entered the hospital were in such a sad state, with their hands
and feet frozen, that their recovery was considered impos-
sible. According to the report of General Levasseur, how-
ever, the cases in the hospital were not serious. The Sema-
phore adds, that fears of a similar disaster were entertained
for a column which had left Setif some time ago, under
General d'Arbouville."
The Algjrie gives a sketch of the disastrous affair, which
corresponds with the above, but it includes a statement that
thirty officers had been taken into the hospital at Setif, with
their extremities frozen—the detachment of the African chas-
seurs had five men and several horses killed by the cold ; of
the waggon-train fifteen are dead; of the 43d of the line,
which was making its first campaign in Africa, the grenadier
company has almost entirely disappeared, and nearly all the
muleteers put in requisition have perished. The Alg&ie
states that on the Bth more than one-third of the column had
not got back to Setif, consequently the fate of 800 men re-
mained unknown.

"'The Courri,,r Francais, after giving the lamentable ac-
counts from Setif, adds the following :—" It is said that an
epidemic disease has attacked the village of Foudouk, and
carried off no fewer than 400 victims. Such a visitation is
the more surprising as this small colony is situated to the
east of the plain of Metidja, in a well-watered and fertile
country, believed to be peculiarly healthy. It is to be feared
that the Marabouts who go about preaching in all parts of
Algeria will avail theniselves of this sad news, by holding it
out to their fanatical hearers as a prognostic of the coming
vengeance of the Prophet upon the infidels.' "

The Three per Cents. closed on the Paris Bourse on Thursday,
at 83f. 10c. ; the Five per Cents. 121 f. 55c ; the Orleans Railroad
Shares, 1,263 f. 75c. ; Rouen, 1,0301. ; Havre, 747 f. 50c. ; Avignon,
9851. ; Vierzon, 710 f ; Bordeaux, 6461. ; Boulogne, 555 r. ; Troyes
and Montereau, 4571, 50c. ; Basle, 2551.; Groat Northern, 756 f. 25c. ;
Fatnpoux, 505 f.; Spanish Three per Cents., 38%.S
The following aro the quotations for other lines :

Paris and Lyons, definitive, 625 f. ; the Paris and Strasburg, defini-
tive, 550 f. ; Tours and Nantes, definitive, 575 f. ; Lyons and
Avignon (Talabot), 510 r. ; ditto (Lecointe), 506 f. 50c, ; ditto (Corn.
pagni• Meridionale), 503 f. 50c. ; Bordeaux and Cotta (Mackenzie),
502 f. boc. ;* ditto (Espeleta), 508 f. ; Charleroi (Kysaens), 498 f.; Caeu
(Delamarre), 502 f. 50c.
Lyons, JAN. 20.—Marseiiles and Avignon, 990 f.; Paris and Or-
leans, 1,262 f. 50c.; Paris and Rouen, 1,035 f.

BUSINESS I)ONE IN F...ORED;N RAILWAYS AT THE

LONDON STOCK EXCHANGE, JAL 23.

Bordeaux, Toulouse, and Cetts (Mackenzie's), 216—Ditto (Es-
plota's), 216—Calcutta and Diamond Harbour, IA p.—Ceylon, 1
Dutch Rhenish, B—East Indian, li/—Great Northern of France
Constituted, 14N —Great Western Bengal, 1 Luxembourg, 2%
Madras, 16 p.—Orleans and Vierzon, 17% Orleans and Bordeaux,
11% —Paris andiLyons (Eafiltte's), 2% —Rouen and Havre, 28.

It is strongly rumoured that the statement of the
Commercial policy of the Government, now fixed for
Tue.,day, will be deferred for a week. We are unable
to state the reason for the postponement, but we hear
there is little doubt of it.
SIGNS OF THE TIMES.—The recent meeting at Norwich,
where the protectionist party was so signally defeated,
caused no heartburning nor jealousy on the side of the
discomfited leaders of the agriculturist. The principal
actor on that side, desired that his opinion of Mr.Cobden
should be conveyed to that gentleman in the following
terms:—" Tell Richard Cobden from me, that ho is the
lionestest man in the House of Commons—if not almost
the only one." We vouch for this fact.