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

0 k Itenilkt =Ant

LONDON, THURSDAY, JANUARY 1, 1846.

The sun has risen upon the new year ! Old '45
sleeps with his fathers—peace to his ashes. If he
has not fulfilled all the promises of his infancy—and
what human anticipations were ever realised to the
uttermost ?—if he has not achieved great things
himself, he has prepared the way for his young suc-
cessor. The coining glories of '46 have cast their
shadow round the close of the old year. He expired
breathing the language of prophecy. A century has
elapsed since the great '45; it holds a prominent place
in the page of our history, yet does that memorable
year bear a striking resemblance to its youthful
namesake. 1745 witnessed the destruction or the
last relics of feudal tyranny ; they appeared for the
last time arrayed in brightest colours, but all the
gallantry of the young chevalier, the ardour and
loyalty of his devoted followers, could not blind men
to the principles they advocated; they saw through the
brilliant disguise of tyranny, they admired the daring
spirit of the young STUART, they wept for the sor-
rows of Culloden, yet they could not but rejoice in
their own triumph, in the establishment of civil and
religious liberty. 1745 saw the last struggles of an old
race, the final doom of worn-out principles.
And can we find no parallel in modern times ? Has
not our '45 witnessed the death-struggles of a
once powerful party—the gradual decay of monopoly
and feudal restrictions ? A year ago the country was
blessed with a Tory Ministry, a Tory majority in
both Houses, and a Whig Opposition. Where are
they now ? Such was the dramatis personce at the
commencement of the play ; each succeeding scene
rendered the distinctions doubtful, every act left the
characters more confused. Where was the Tory
majority at the passing of the Maynooth Bill ?
Where was the Tory Ministry when conciliation
was preached, when taxes were remitted, liberal mea-
sures framed; and where was the Whig Opposition
when both sides voted in concord ? The curtain has
fallen, and how are the characters disposed ? Have
the two parties amalgamated into one—have they
formed a hollow friendship which a breath can an-
nihilate ? Far from it—both parties are no more.
The battle of Culloden was not more fatal to the
STUARTS, than was last session to the Whig
and Tory factions. Were the evidence deemed
incomplete, we need only regard the recent
summing up of the two leaders. The heads
of each 'party have publicly declared themselves
unable to carry out a popular measure on the old
principles of party friendship and exclusive interests.
Yet the popular measure must be carried out, and
behold the dissolution of factions. Sir R. PEEL has
returned to power, it is true, but his policy will be
now unfettered. The name of the Minister matters
little ; it is the principles he advocates which are re-
garded by the country. From the ruins of two parties
the people anticipate the administration of a popular
Government. Whether it will be Sir R. PEEL'S—
whether he can seize the golden opportunity, or whe-
ther he yield and fail, or dare and conquer, these are
matters hid in the depths of futurity, which the new
year will disclose. Whoever is Minister, one thing
is certain—'47 will not shine upon the corn-laws.
Welcome, then, '46 ! We look forward with con-
fidence. No young monarch ever ascended the throne
with brighter auspices. Be it yours to realise the
hopes of starving millions—to give liberty to the
oppressed, and break the bonds that fetter industry.
Be it yours to show us statesmen with the country's
interest at heart, and politicians who dare be honest.
Be this your work of love, and when your race is run,
your story shall be placed above the annals of con-
quests and victories. You shall be renowned as the
year which witnessed the emancipation of industry—
the year which gave happiness to a suffering people!

Discussion of constitutional questions has been so
long dormant, that we feel grateful to the Lambeth
electors for the little episode on pledges in their free-
trade meeting. There is danger in all political ab-
stractions ; and while a " thorough" system of
pledges is utterly at variance with the principle of a
deliberative assembly, we see nothing left to consti-
tuents if they are not to be allowed under any cir-
cumstances, at any time, with reference to any mea-
sure, to ask a candidate or a Member, the plain ques-
tion—Will you vote aye or no ? When a man is sent
to the House of Commons for a possible period of
seven years to exercise his judgment on all the
various public questions and emergencies
which iu so long a period may arise, there
is no man of sense who will say that the
Member ought to be tied down by unqualified
pledges as to measures, so as to be debarred from
exercising his judgment on the various expediences
which might render it desirable to postpone (say) the
agitation of a good measure, or to accept an instal-
ment only, or to take up with a compromise. But
constituents must have some exposition of political
opinions from their candidates ; and no true friend of
representative institutions would seek to diminish,
further than is absolutely necessary to preserve a
deliberative character to the House of Commons,
the influence of constituents over Members on the prin-
cipal public questions. A plain answer with
regard to some one question will always be
a great help towards ascertaining the general
fitness of a representative. And there is always, in
Er gland, some one question or other, prominent in
the public mind, ready for arbitrament, with regard
to which almost all men's minds are, and all men's
minds should be, made up, and on which a simple
answer to a simple question may most properly, as
well as usefully, be desired. Object as much as you
like to pledges in the abstract; to apply the abstract
objection to questions of this sort is nothing but for-
malism and pedantry. In the true spirit of represen-
tative institutions, every advantage that can be given
should be given to constituents. And certainly it
may be said now of the corn-laws, that " the pear is
ripe." Every political man must now expect to be
called upon to say " Aye," or " No," as to
total, and immediate, and unconditional repeal.
If hi has not made up his mind, he will probably find
himself, at the next general election, destined for pri-
vate life. In the metropolitan constituencies, in Lam-
beth as one of them, we should be very much amazed, if
the answer " Aye " were not insisted upon.
It must be confessed that Mr. D'EYNCOURT'S speech
at the Lambeth meeting was one that justified the
questioning to which he was afterwards subjected. It
was a striking contrast to the straightforward speech
of Mr. HAwEs. There was a deal of beating about
the
bush ; he was a landowner, and therefore his posi-
tion
-aty would have been a good thing—
he was a
differed from his colleague's—he thought a
fixed a
manufacturer of corn, and if protection
was to be taken from him, it must be taken
from all other competitors and then., instead of saying
anything about what' all his constituents were wait-
ing for open. mouthed—the tota 1 and immediate repeal
of the corn•laws—he winds up
t—
the turn-out of the PEEL
was certainly very much like,
at with
Ministry.
le a a fl s t
,Ndamningflourish
la about
this
e
object of the meeting with faint praise; and we are
not surprised to find that, as soon as Mr.
COURT sat down, Mr. WILSON should rise and
say__
: their
" He had listened attentively to the speech of
representative, Mr. D'Eyncourt, and he wished
a more explicit statemnnt from that Hon. Gentleman" 4:
to the course which he intended to take with regard to
the corn-laws in the House of Commons. He was de-
sirous to be informed if the Hon. Member was prepared
to vote for a total and unconditional repeal of the corn-
laws at the meeting of Parliament.—(llear, hear.)"
Then Mr. D'EYNCOURT brings the Constitution to
his rescue, and declares pledges unconstitutional.
" His duty, as their representative, was not to give
pledges at the call of any individual who chose to
jump up and ask him to do so." Mr. HAWES, very
chivalrously we must say, backed his colleague.
" When a man went to the House of Commons in a

deliberative character," said Mr. HAWES, "he ought
to listen to argument; but if he went there and
said that nothing which he could hear would change
his opinion, he must necessarily lose dignity and self-
respect." Will Mr. HAWES tell us how often Mem-
bers of his Honourable House are convinced by
what they hear ? Is it not proverbial that their
minds are all made up before the debate
begins, and that the division-list, if made out
at the beginning would be, in ninety-nine cases out
of a hundred, the same in every name, as at the end
of the debate? Mr. HAWES'S argument, then, is open
to the remark, that he makes more of his deliberative
character to his constituents than facts warrant.

Well, the Vedge is refused, and in a little time
the Members for Lambeth are entrusted with a
petition praying for total and immediate repeal. This
acts like a spell, and Mr. D'EYNCOURT then comes
out like a man. He would say nothing "on com-
pulsion," but makes amends by now declaring, as if
.suo motu, that, he intended to vote for the entire, un-
conditional, and immediate repeal of the corn-laws."
It must be allowed that that was not to be gathered
from his first speech. Well done, we say, electors of
Lambeth, a little pressing is a good thing.

We have given reports of the speeches and pro-
ceedings of two meetings for the protection of agri-
culture, one at Aylesbury and the other at Chichester.
The Duke of BUCKINGHAM presided at Aylesbury,
and the Duke of RICHMOND was the chief speaker at
the meeting in his native county, and considering
their wide-spread fame as " farmers' friends," and
their position as the leaders of the corn-law asso-
ciations, the exhibition made by them fell wofully
short of expectation, and manifested in the most
unequivocal manner the hopelessness of their cause.
We have searched in vain for arguments in the speeches
of the illustrious Dukes, and can find little else but
abuse of Sir R. PEEL, and mere assertions without
proof. RICHMOND did not repeat his well-known
threat, that "he would undo the Minister" should
he dare to rebel, but BUCKINGHAM still boasted
of the power he and his friends possessed,
and could not conceal from them his opinion that "the
agricultural body in the country had the power, if
they pleased, to crush and to defeat any attempt that
might be made to repeal the corn-laws." This
is a specimen of the mere assertions made,
but the proof is yet to be seen, and we have no
doubt that, in a few weeks, Sir ROBERT PEEL will
be able to show both these Noblemen that they have
greatly over-rated their strength, and that the time
is fully come for convincing them of the fact.

We have received Madrid journals of the 24th ult.,
but they are without interest. On that day the
Three per Cents. were quoted at 36i for cash, and
37 at 60 days-31 millions done. The other funds
were not quoted.

The Paris papers are chiefly occupied with the
elections for President of the Chamber of Deputies,
and the monthly committees, which, as stated yester-
day, have all gone in favour of the Government. But
a greater victory still was achieved on Tuesday, when
the vice• presidents and secretaries were elected.
Four Ministerial candidates were appointed as vice-
presidents on the first ballot—namely, M. BIGNON,
210 votes ; M. LEPELLETIER D'AULNAY, 202 ; M.
DEBELLETME, 189 ; and M. DUFRAT, 188. The
Opposition candidate next on the list was M. BI-
LAULT, who had 152 votes. The Ministry were equally
successful in the elccticn for secretaries. The fol-
lowing are the members appointed, with the numbers
in their favour :
Votes
Majority
M. de l'Espee l9B
M. Boisey d'Anglais ..
M. Las Cases
M. Lacrosse 177

M. HAVIN (Opposition) had 160 votes, and M.
CORULLES only 54; so that the victory altogether is
decisive.

The following article in the Government paper,
the Journal des Debats, adverting to the triumph of
the Conservative party, was written before the elec-
tion of Tuesday :—" We take a note of the first suc-
cess of the Conservative party, but without trium-
phing in it ; for we believe that it has surprised no-
body. The position was so clear and the question
put forward in such a way that the result could not
be doubtful. On both sides there has been an ex-
ample of union and discipline. The Conservative
party had assembled all its forces, and the Opposition
had done the same ; consequently the contest was on
both sides as regular and open as it always ought to
be for the honour and sincerity of a representative
Government. It was, therefore, decided at the first
blow, and the Opposition may say just what it pleases.
We shall be told perhaps that if the Conservatives have
gained the day it was because the Opposition was willing
they should do so. We are habituated to arguments of
this kind, and estimate them as they merit. To us
the result proves only one thing, viz., that in order to
be the strongest party on every occasion, the Con.-
servatives have only to do what they did yesterday—
remain united, firmly united, in presence of their ad-
versaries. With this condition they may be sure of
preserving their advantage. We have frequently said
this to our friends, and we are happy in being able to
give them this new proof of it. What we desire is,
that this first success may serve as a warning and en-
couragement to the Conservatives for the battles which
they may yet have to fight. The ballot for the nomi-
nation of Vice-President takes place to-day; and we
recommend them to come to the same understanding,
as to the candidates, as they did yesterday. Let them
be once more united; let them sacrifice the personal
dislikes and accidental differences of opinion that may
exist among them. Indiscipline and disunion might
not only compromise the success of the battle, but
tend also to embarrassments and resentments similar
to those which shackled the commencement of the last
session. GOD preserve us from again falling into
such a chaos ! We point out the danger to our
friends, and we reckon on their union and discipline
to preserve from it the Chamber and the session."
The Opposition writers know not what to make of the
the business, and the National can find consolation
only in another panic, or some calamity. " The
Cabinet," says that Journal, " may triumph, sound
the trumpet, beat the drum, thunder forth its hymn
of victory. Its success of yesterday was complete,
magnificent, and even surpassing its hopes. M.
SAuzaT was elected by a majority of 66 votes. The
Opposition is, therefore, beaten thoroughly, and
routed ; all that remains for it is to throw down its
arms and baggage, and surrender at discretion. Per-
haps M. DUCHATEL, who is a feeling man, will give
mild conditions, if it thinks fit to capitulate. And,
after the check of yesterday, nothing else remains
for it to do. There are even in favour of this latter
party some strong reasons which we shall state in a
few words. First of all, to enact the Oppo-
sition, is a dupe's business ; and when a
dupery has lasted five years, they who still
adhere to it, may well merit a judicial decision
as idiots or spendthrifts. The chances of political
fortune may, without doubt, be tried when the forces
are somewhat balanced, and when a caprice of the
ballot-box offers a chance of overturning a Cabinet !
But, with an infinite minority, the struggle is only
a folly. Remark, besides, the circumstances ; business
in general is bad ; trade suffers; money is exceed-
ingly scarce ; the panic at the Bourse, calmed down
for an instant, may return at the slightest incident.
But suppose that you have Northern, or Lyons, or
Strasburg, the fall carries off all hope of premium.
You hoped to gain, and you lose ; or rather no, you
cannot lose, but you shall not gain, and by your
own fault—by this mania of waging war against
M. GuizoT ! to find that he governs ill, as if he
governed !"
The usual routine business took place in the
Chamber of Peers. The following Members were
appointed to draw up an Address, in answer to the
SS iti.ee
Aulaire,from
Bthaeron Throne B
a:r--anCteo,u ntdnd Count 'A rgho ouyt:
CountCouonat
Portalis, Baron de Bussieres, M. Gn.d
(de l'Ain).
melancholya t
el
aVme
er. have
The given
par t
British
ruiil
tnai
rs
hsa nool
Vice-Consul,
r part
tcehee_
cl
oosrss
uo of
if,
t\Th e Sun s
hv
eera
raep ginl
a 1
war-
steamer.
. atr .
to
find, was of great service on the occasion in saving
many lives, and warm gratitude for his conduct is
expressed in the French accounts published by the
Government journals.
The three Councils-General of Agriculture, Com-
merce, and Manufactures, held their second general
meeting on Monday, M. CUNIN-GRIDAINE in the
chair. The question under discussion was the reduc-

tion of the duty on northern iron, fit for steel. The
proposition to diminish the duty found but few sup-
porters. Incidentally it was proposed to lower the
duty on steel, and this proposition was supported by
a few Members. The great majority of the persons
present, however, were in favour of the status quo.

There has not been much busines done at the Bourse this
afternoon. Towards its close almost all the securities have
somewhat receded. The Three per Cents. were 82f. 95c. ;
Four per Cents., 106 f. 50c. ; Five per Cents., 119 f. 75e. ;
Bank Actions, 3,285 f. ; Blgian Four-and-a-Half, 99f. ;
Belgian Two-and-a-Haf, 57if. ; Spanish Active, 37if. ;
Spanish Passive, 7 ; Piedmont, 1,235 f. ; Roman, 102 if.

The following are the quotations for the railways:—

Paris and Orleans, 1,242 f. 50c. ; Paris and Rouen, 1,020 f. ;
Rouen and Havre, 810 f.; Marseilles and Avignon, 952 f. 50c. ;
Strasburg and Bale, ex div., 254 f. 25c. ; Orleans and Visrzon,
680 f. 50c. ; Boulogne an Amiens, 547 f. 60c. ; Du Nord,
756 f. 25c.; Montereau and Troyes, 435 f. ; Fampoux and
Hazebrouck, 500 f. ; Bordeaux and Teste, 185 f. ; Grand
Combe, 1,590 f.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, DEC. 31.

Anglo-Belgian —

Barba does .

Boulogne and Amiens.. 13
Bordeaux &Mediterran
Bordeaux and Toulouse
& Cette (Espeleta)
Do. (Mackenzie's) ..
Callao, Lima, and Pa-

citic Coast
Central of Spain ..

Ceylon. -

Madrid and Valencia... IIA

Mauritius

Demerara
Dendre Valley ••• -
Dutch Rhenish .. B%
Dieppe & Paris Juact.
Dijon and Mulhouse ...
East Indian
Fampoux & Hazebrouk
Grt Northern of France
Constituted 1514
Do. Pepin le Halleur —
Great Paris and Lyons 2%
Great Western Bengal %
Great Western Canada
Jamaica S. Mid. Junction
Do. North Midland —
Do. Extension

Namur and Liege 4
North Jamaica
Orleans and Vierzon
Orleans and Bordeaux 12
Over Yssel •••
Paris& Lyons (Laffitte)
(

Ditto (Ganneron's):
Ditto (Calm's)...
•

Ditto

SudEsi)

Jersey
Louvain and Jemappe 2l/4
Lyons and Avignon 2,A
Luxembourg

Paris and Orleans 491)4
Paris and Rouen . 4O
Paris and Strasburg
(Ganneron's)
Do. (Compe de L'Est)
Do. (Aymard'a)
Paris aad St. Queatin —
Rouen and Havre
Royal North of Spain —
Sambre and Meuse
Strasburg and Bale
Tournay,Jurbise, Lan-
den, aad Hasselt
Tours and Nantes
(Mackenzie's)
De. (Lefebvre's) —

s. ( Leteu
De. (O'Neill's)
Trinidad
Verona and Ancona....
West Flanders 5

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool yesterday were 6,000
bales, 2,000 of which were on speculation. The market was
very firm, and with an upward tendency. The Shares of the
old Railways were not so much dealt in, but Scrips were
lively.

In the City this morning there is but little business doing.
Indeed the attendance of the merchents is vary thin. As re-
spects the balances of the private and the Irish Stock
Bankers of the metropolis, we have every reason to be-
lieve, from the infformation just communicated to
us, that for many years past, such large amounts
have not been left in hand, on customers'
account, as was found to be the case last night. The appre-
hensiims entertained in some quarters of a scarcity of capital,
in consequence of the large deposits that have been paid up
on new railway schemes, appears to have entirely vanished,
for money is now really plentiful, so much so that dis-
counts upon first-class commercial paper can be done at 31/2
per cent.
The Consol Market has been rather dull to-day, at from
94% to 94% for the Account. There have not been any sales
of importance made. Exchequer-bills have touched 295.
premium, but they are now a little lower. The Reduced
Three per Cents. have receded from 95 to 95. Bank
Stock is at 204, and the New Three-and-a-Quarter per
Cents. at 971/s.
The Spanish Three per Cents. are in request, at 3914 ex
div., and the Five per Cents. have been sold at 29%. The
Dutch Two•and-a-Half per Cents. have improved trom 933/4
to 9414 ; Brazilian Five per Cents. are worth 81%, and
Mexican, 321/ii.
The Railway Share Market has been firm this morning.
The demand is comparatively trifling, but where bona fide
transactions have been entered into, a better range of value
has generally been realised.
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
Bank Stock

3 per Cent. Reduced Annuities 95 LA 1 95
New 314 per Cent. Annuities — 971% A i Vs
Long Annuities Expire sth Jan. 1860... 101,4
Consols for Account 943/4 Tit 5,s
Exchequer Bills. 13/4d. 1 ihd.
1,000/.
5001. ...
Ditto Small
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent Bll/2
Mexican Bonds, 1837, 5 per Cent —
Ditto for the Account 321/y
Ditto Deferreu
Spanish Bonds, 5 per Cent, 1840 —
Ditto for the Account 29%
Ditto Deferred

Ditto 3 per Cent —
Ditto for the Account. 3914
Dividends on the above payable in London.
Belgian 41/a per Cent 96%
Dutch 2% per Cents
Ditto 4 per Cent. Certificates .. 93% 9414
BUSINESS DONE IN RAILWAY SHARES AT ONE
O'CLOCR.
RAILWAYS. PAID. PER SHARE.
Aberdeen
Aberdeen, Banff, and Elgin... 2%.....
Armagh, Coleraine, Portrush 1% — to
Aylesbury and Thame ... 1%......
Belfast & County Down
Bideford and Tayistock .. ... 'A.._ to
Birmingham and Gloucester 100 ....
Ditto New Shares
Birmingham and Oxford
Junction
Birmingham and Leicester
Direct
Boston, Stamford, and Birm. 22s .. .. ..
Bridgewater and Minehead... 425......
Bristol and Exeter
Ditto New 2 ...... 914 to
Bristol and Gloucester 3O

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