The Sun.
London, England, 1851-02-22 00:00:00

LONDON, SATURDAY EVENING, FEBR

',--,aver I'znB t:,,_, Lre,nv.iy through the party to

AdUCO

to co-. ilia of the community ;.n eneral, or
...ny section or portion thereof being taxed for the ex-
clusive benefit of the fortunate few, the fruges con-
sumere nati. Ic the views enunciated by Mr. HER.
RIES should be carried out, farewell to the hope of
the abolition of the unholy taxes on light and air,
on knowledge, or on cleanliness. Any boon in the
shape of remission could only be purchased at the
expense of additional import duties, of new restric-
tions on trade and commerce ; and we tell the Hon.
Gentleman that the country is not prepared to ac-
cept it at such a price. 'With all his faults,
and we do not seek to extenuate them, there are
many good points about Lord JOHN, and we should
be sorry indeed that the country should lose his
valuable services. Although he has carried the doc-
trine of " finality" a little too far, and although he
might and ought to have averted the Ministerial
defeat on Mr. LOCKE KING's motion by a timely
concession, and the exhibition of a little
more promptitude, we cannot forget that he
was the author and introducer of the Reform
Bill, and that he has exhibited true and genuine li-
berality on the great majority of questions that have
come before Parliament and the nation. Nor would
it do to abandon the vigorous and manly policy that
has signalized the administration of our Foreign
Affairs, or to entrust that important department to
the imbecility and feebleness of " cet excellent ABER-
DEEN." We want a modification, and not
a change of Ministry, and that we have
no doubt will be the case. Lord JOHN will
enlarge the bases and foundations of his Mini-
stry, and infuse new blood into his Cabi-
net. His resignation will be to this extent,
and no more. It is possible that he may
tender it unconditionally, but he must inform her
MAJESTY, if asked, that it is the influence of the
GREY clique that has weakened his power and forced
him to adopt so painful an alternative—that it is
the PRECIOUS BUDGET that has overturned
his Administration, and that if emancipated from that
thraldom he could hope to carry on the Government
of the country vigorously and efficiently. This
suggestion will be acted on, and we have but little
doubt that on Monday evening Lord JoraN RUSSELL
will state that he has received her MA-
JESTY'S authority to reconstruct and re-organize his
Cabinet, and ask for a further adjournment, to
enable him to carry out the necessary arrangements.
Such a course would avert the necessity of
a dissolution, and the disturbance and excitement of
a general election, which would be by no means ad-
vantageous at this period, and which would pro-
vably not increase the Whig strength at the present
emergency.

Europe is at this moment in a state so terribly un-
settled as to threaten a sudden and destructive out-
break of revolution—if we may believe the Right
Hon. Baronet her MAJESTY'S Chancellor of the Ex-
chequer. Upon the plea of this perilous condition
of the Continent, Sir CHARLES WOOD comes before
Parliament for the purpose of demanding the main-
tenance of our military and maritime establishments.
'Now, as may be readily conjectured from our
frequent opposition to the redoubtable arbitration
movement, we are little enough disposed to advocate
any wholesale reduction, whether it be in the naval or
the military departments. Our motto, as applied to
the responsibility of national conservation, is nothing
less than the old proverb, which for many centuries
has declared a peaceful policy as only capable of
being maintained by the continuance of a
warlike attitude. Si via pacem para bellum.
While, therefore, we are rejoiced to observe
the reluctance evinced by the Administration to
adventure upon any such ill-judged economy as
would tend to deteriorate the energies of our land or
sea forces, we cannot but protest against the reason
assigned by the Chancellor of the Exchequer for re-
fusing to accede to the demands of the pacific sticklers
for retrenchment. Sir CHARLES WOOD has observed
in regard to the window duty, that it is reprehensible
not in regard to the principle of a tax upon residence,
but in reference to the peculiar manner of the assess-
ment. More correctly, but in the same way, would
we urge the Ministerial rejection of the request for
a reduction either maritime or military. Our ob-
jection is raised, not against the fact of that rejection,
but against the frivolous and erroneous reason assigned
, for its utterance by the Chancellor of the Exchequer.
A blunder of this kind we view as most lamentable, seeing
that it lays the Cabinet open in about its only good
policy to the gibes and the derision of its most Quix-
otic antagonists. The circumstance, however, is
only of a piece with every other portion of the Whig
Budget. If one of two courses has glared upon the
Finance Minister in relation to any subject whatever,
the one right and the other wrong, Sir CHARLES
WOOD has contrived most infallibly to select the lat-
ter upon all possible and impossible occasions. He was
adjured to remit the window duty, and under another
form he rendered it yet more onerous and stringent.
He was warned against the danger of imposing a
house-tax, and he thereupon organized a rate to be
levied henceforth upon the mass of domestic resi-
dences. He was incited by an accumulation of
reasoning, by an array of deplorable and persuasive
facts, nay, we can even say by a hint
embodied in her MAJESTY'S Speech from
the Throne, to allay the sufferings, to alle-
viate the condition, and to conciliate the long irri-
tated and long dejected agriculturists, and he forth-
with insults their misfortunes by granting them a
miserable little favour like the remission of the im-
ports on the seeds of grass and of clover. So is it
•pith regard to those financial reformers who, upon a
mistaken principle, but, at the same time, out of the
most leudable motives, were for bringing down the
Amount of our soldiery and our mariners. Instead of
evading their importunities by a manly declaration
that such forces were at all times requisite, in certain
proportions to every state in Christendom, even
during intervals of prolonged and uninterrupted
tranquillity, the Chancellor of the Exchequer con-
trives to render the justice of his policy in this parti-
cular both dubious and contemptible by talking, for-
sooth, of the unsettled position of affairs on the Euro.
pean Continent.

Why, theyeason is nothing short of being an insult
to the common sense of the population. For common
sense assures us that so far from Europe being just now
perilously situated, that is to say plunged into an in-
cipient state of insubordination and revolutionary fer-
ment, it is long since the face of Christendom ap-
paared so serene as at the present moaaent, when most
of the internal tumults and international bickeringa
have been brought to a termination. No war rages
in Hungary. The Cossacks under PASKEWITCH
ate no longer desolating the banks of the Danube.
Austria is lapped in a sort of political lethargy. Prussia
has thrust its sword (washed clean again in the waters
of the Eyder) into its scabbard. Italy is again quietly
yielding obedience to its various Princes. Denmark
has no longer to struggle against the treasonous re-
volt of the Duchy of Schleswig. Spain has been re-
lieved of its political incubus—NARVALZ. Portugal
listens not, as it once did, to a junta formed
in the ancient city of Oporto. Greece has
no dread of the return of Sir WILLIAM PARKER and
his squadron. Turkey finds no repetition of its
former embarrassment at the insolent demands for
extradition forced upon it by the KAMER and the
AUTOCRAT. Even France has accustomed itself to
look for the utterance of its destinies to the decrees of
the PRESIDENT and the votes of the Assembly, rather
than to the captains of the Gard. Mobile and the
builders of the barricades. Yet it is at this particular
period that Sir CHARLES WOOD, addressing himself
to the British House of Commons, ventures to assert
that the unsettled state of Europe compels us to keep
up to irs customary level the military and maritime
forces of the Government. Surely never was a rational
policy more unnecessarily jeopardized by any more
foolish or more fallacious reason. The absurdity of
the cause assigned for the course about to be very
wisely pursued in reference to the army and the navy of
Great Britain, is, in truth, only comparable to the
general absurdity visible throughout the precious
Budget of our luckless and unpopular Chancellor of
the Exchequer. Scarcely any other official document
could display a similar instance of idle and perverse
fatuity. It remained fur Sir CHARLES WOOD to give
4 handle for ridicule to the most ridiculous theorists
in the world, the Utopian advocates ut the fantastic
sy stem of arbitration.

Tho Rev. R. Jones had an interview yesterday with
Sir George Grey.

14" E friz UP) i 6
5. )11 .11)

\V have reteivoi it& Paris journals of ycs,rduy.,
Tne Committee on the Communai and Departrip-n-
-tal Organization Law has elect,d General
LAMORICIERE Pre,ideq,, in opposhion to M. Onii.oN
BnItRoT. The Vice-President is M. DE LABoRDIE.

It %VW, reported that for the future the Assembly
would only hold public siting three days in the
week, and di-vute the oth.'r thr.-e to the con.ideration
of the organic laws in the bureaux. . _

The feud between the Orleahists and the' Legiti-
matists is now open and avemeri ; the former accuse
the latter of coalescing with the ;Republicans. The
Debats considers that the defeat of OmLoN BAR-
ROT by GenerA LAMORICIEP.E WAS the result of this
coalition, and recommends that the Bill he withdrawn.
The following is the confe.ssion of the _.l3,:ats as to
the present disorganized state of the reactionary
faction :
" The schism which had more than ever become ma.
nifest in th? great party of order has now become more
evident and more clearly defined than ever. The Con-
servative party is to a man favourable to the Bill; the
great majo;ity of the Legitimati:ts, united to all the frac-
tions of the Left, from General de Lamoriciere to M.
Michel (de Bourges), has pronounced in a contri.7
sense."

The Opinion Publique, the organ of the LPgita-
matists, accuses the Orleanists of coquetting with the
Ely she. It thus describes its former friends and as-
iociates

" With th?ir foreheads yet bruised by the debris of the
fallen monarchy of July, they already dream of a new
establishment, to be built under still more unfavourable
conditions, and the 24th February, of which the third
anniversary approaches, has not taught them a sufficient
lesson. Their journals call them the men of order par
excellence. We tell them, without violence, but with
some trankxeis, that they are, without knowing it, the
greatest auxiliaries of disorder, and that they are at this
moment the pioneers of a new 24th February."
NARITAEZ, who is in Paris, is very marked in his
attentions to the PRESIDENT of the Republic.
The tollowing are the chief items of the weekly
Bank account:—

Specie in Paris ... 367,581.352
Do. branches ... 133,572 451
Bills in portfolio... ... 57,003,701
Do. branches ... 83,787.419
Bank notes in circulation ... 419 889,800
Do. departments 92,327,750
Credit to Treasury ... 97,905,948
Private credit account ... 74.734,939
Do. brctches ••• ... 22 412.538
Specie has increased 3f millions in Paris, and
nearly one million in the branches. The portfolio has
declined more than 1# million in Paris, but remains
bout the same in the departments. Bank-notes are
reduced in circulation by nearly three millions in
Paris, but have increased about 1 in the provinces.
[he credit of the Treasury has increased by five
millions. Private credits are little altered.

The Boursr was vary thinly attended, and public
securities again decliiied. The Five per Cents. opened
at 96f. 45c., and closed at 96f. 35c.; The Three p- r
Cents. closed at 571. 75c ; Orleans Railroad Shares,
6851.; Rouen, 645 f.; Havre, 2721. 50e.; Great Northern,
475 f.; Avignon. 192 f. 50c.; Vterzon, 4061. 25c.; Bal.,
96W.; Boreaux, 395 f.; Paris and Strasburg, 367 f.
50e.; Toms and Nantes, 248 f. 75c.
BUSINESS iIONE IN eOttEIGN RAILWAYB '1 THE
LONDON STOCK EXCHANGE, FEB. 21.
Dutch Rhenish, 31/B Northetn of France, 15— P ari s and
Reuen, 2:i5/s ex die.—Paris and Strasb,,urg, 103 Sambre
and Meuse, 31/4—Tours and Nante!, 514.

SPAIN.

Madrid journals of the_l6. h have arrived.

The Con'imittee of the Cortes for the revision of the
project for the regulation of the debt, has demanded
copies of all the ri=p:;rts presented to the Government
by the representatives of the home and of the foreign
eredi ors.
The 13olsa was closed.

• ,
.t.' 6.i.12:1.E.
1,17-7.i-sr' E.

W 3) S.

Paid.

F'»..l`a.~a~

A"! L '

Nousizal Prices.

A bent een . • .. • • • •
Do. Prererence •• ••
Ambergate, Nottingham,
Boston, & E. juncion
Ayrshire and Galloway..
Bediast andeouni) Down.
perks and Hants Exten.
(Great n eAtern Per-
petual 5 per cent )
Birmingham and Oxford
Junction, cads duly
paid, of with a guar...
Do. without a guar...,
Wolverhamp-1
tem, and Dudley, callsl
duly paid, or with a,
guy.rantee • ..
Do. without A guar.
Birriniq., oivert:unp.,
and Stour Valle;
Birkenhead, Lancas., and
Cheshire Junction ••
Bristol and Exeter.. •
Buckinghamshire • • • •
Caledonlaa
Du. 1111. Preference •.
Do. Clydesdale June...
Chester and Holyhead
Do. Preference
Clarence ..
Do. Ist Class, 6 per et.
Do. 2tl de., 5 per cent.

50
8 6 'n

13% to ri%
% 34 dis.

5 —4% di,.

%- I P

28% --- 99%
27 - 28

7 —9b p
p xdl
xd

13 14 0

10% -11 X

87 -89
173( -17 N
1114 - 11%
5k -8%

20 - 21
15,4 Ls%

Do. Gov. Loan, 4 pr. et.
Direct Lond. and Portsm.
Dublin and Beltast Junct:
Dublin and Kingstown..

178 6 8

•• - ••
23 -21 412.

Dundalk and Enniskillen,

East Anglian (251. L. &I
E. and L.& D.) ••
Do (181. E. & H.) ..
Do. (31. 10s.) 6 per
cent. Preference ..
Do. (51.) 7 pr. ct. Pref.
Do. (71.175.) 7 p. c.Pref.
Eastern Counties ..
Do. Exten., 5 per,cent.
.1,.10. 1 • • .. • •
Do. No. 2 • • • • • •
Do.Eew Preference, 6
per cent. .. • .
Do. North. and East.
6 per cent. • • ..
Do. do. 5 per cent ..
Do. do., New • • • •
Eastern Union, class A,
late E. U. shares • •
Do. do. do. ..
Do. do., B & C shares
Do. do., scrip, guaran.
6 per cent. ..
East Lancashire
Do. New quarters
Do. 6 per cent. pref.
quarter shares.. ..
East Lincolnshire, gua. 6
per cent •• .. • .
Edinburgh an Glasgow
Edin., Perth, and Dundee
Do. Newport ..
Exeter and Exmouth ..
Glasgow and South- West,
Do. pref. cons, didated,
Do. do. G. D. & C. stack
Gloucester & DeanFerest
Great Northern • • • •
Do. halves, A, deferred
Do. halves, B, 6 per ct.
Do. 5 per cent. pref.

any —4
2% —2%

15( -2
1 -1w
% -1
7 -N

I 4 34 P
Par lii p

11% - 11%

56 -58

5 --- 7• p

6} -7
.. - ..
414 -41 i

1836 19
14 14%id

25
50
25
15
1 1 0,

32 - 32%
33 -35
7% -8%

..'i_..34

8 6 8

17% 17%
64, -
11% - 11%
13% - 13%

Great Southern and,
Western, Ireland ..
Do. eighths
Great North of England.
Du. new 401.
Do. new 301. ..
1)o. new 15/. .
Great Western .. • •
Do. Now, 171. ..
Hull and Selby ..
Do. half shares ..
Do. quarter shares
Ls.ucaster and Carlisle ..
Do. thirus
Lancaster and Preston ..
Lancashire and Yorkshire
Do. quarter shares ..
Do. fuths .
Do. F. 20/. ..
Do. new, guaranteed 6
per cent. ..

2)4
100

41 -43
% - NP•

Do. hudders. iii Sheft.
Do. West Riding Union
Leeds and BraNiord
Leeds and Thirsk
Do. pref. 6 p et., No. I

Do. pref. 6 p et., No. 2
Do. pret. 6 p et., No. 3
Do. pref. qrs., 1848 ..
Liverpoo., Crosby, and
Soutbport
London and Blackwall
London, Brighton, and
South Coast
Do. auarteed. 5 per ct.,
late Croydon thirds..

Do. preference, b p et.

.
Do. preference, cony. 5
per cent., 1852
Do. new guaranteed, 6
per cent. ..

London and Greenwich
Do. preference .

London and N.-Western]

1)o. do. new quarters
Do. fifths .. .. .

Do. 101. sh., 31.&13 (c:
London and S.-11 astern
Do. new 501.

Do. new 40&

Do. new preference ..
Londonderry & Coleralne

Do. hall shares
Lowestoft, guar. 4 per ct.
De. do. 6 per cent. ..I
Londonderry and Ennis-1
killen. .. • •

Do. half shares • • ..
Manchester, Buxton, and,

Matlock .. .. ..
Manchester, Sheffield, &
Lincolnshire .. ..

Du. quarters, No. 1 • •

Do. new, 101. preference
Do., 6/, Preference '
Do. Manchester and

Lincoln Union .
Midland • • • • ..
Do. consolidated pref.

Do. 50/. shares • • • •
Do. Miming & Derby
Do. Cousel. Bristol &
Birrumg., 6 per cent.
Do. Bristol & Ulouces.
Do. do. do. ..
Do. Erewash Val. pref.l

Do. Leic. & Swanning.
8 per cent. guar. .•
Midland Gt. West. (Ire.)
Middlesbro' and Redcar,
6 per cent. guar. ..
Newcastle and Carlisle..'

Do. quarter shares ..
ewmarket

Do. extension scrip ..
Newport, Abergavenny,
and Hereford
Newry, Warrenpoint, &
Rostrevor
Norfolk .. ..1

1)0. rew 201. shares • •
,o. Extension • • ••
Do. guar. 5% per cent.
Do. Waveney Valley..

Northern Counties lil;11
North British.. ..

Do. ['reference ••

Sorth Staffordshire

North-Western

North & 9th.-West.June.
Oxford, Worcester and
Wolverhampton..

Preston and IVyre
Do. Halves (A) ..

!teading, Guildford, and
i;ehsate.. • • • • ..
Royston and Ilitehln
Ibi. Shepreth Exton,.
Scottish Central

11 13 4

47%
too

- 245

90 —9l ad
2 —l% dis. ad
102 104
51 —53
23 —24
76 —7B
8% —9% P.
29 —3l p
58 59
10% 104 dia.
74 7 dia.
14 dlB.

1130 - 131%

6 —5% die.,
9,34 97 34 xd
104 15%
334 —2% die.
3% 3 dia.
die.
1 134 p

.. ..
7 - 7!.4

9734 - 98)4

114 - 120
57 -60

57 -60

100
12 15 4
20
100

135 -138
- lt%
24 -25

)33% -133%
-6 P.
- 314 P.
89 -90

100
42%

6 5 dia.
4 3 diS.
2% p.

15 -16

33 dl2.

33 —34
12% 13%
11% 12
% %
3% -- dig.
61% —61%

4 2 01

33154
5
3154 Ws.

190
48
i 33 10 6

100
47%

2 12 0

123 - 130

• .
• - •
5 -5%

24 —26
14 %
18 13 %
Ws.;
17
—5%

9% —9%
5
7 6%disad

.. -..
U-%P

19 - 19%
4236 - 4336
8 - 9 p,

21% - 21%
7% -8%
.196 -
_l% p,

18l -18:4;
10 -10%
7% -8

5% —5, die.
4% 4% dia.,
10 10% add

15 —l6
114, 12)4
14 1 dl3.
13% 144
3 —2% dia.
17 —lB
13 —l4
3 ills.
25% 26

.. _ ..
26 -27

IN 236 dis.

FOREIGN.
20

lted Alexi;

22, 1851.

.5101\ Gi AL NE

CITY, To 0 0 GLot

irpo LIV,I pi. i yestro day w, re
7,000 to 8.000 bale-s. The roark,t toa,o,:atre d Its ice-
provrd tone. and dos. d at full r,,tes —Ralwuy Shari-s
were 0u,,, aid pi w.es dene .

The arbount (t bullion .sfrit, to ladle, aid Attxuedria
had not b,en brought, in: the Back 4 f Engkooi recount
to the 15-11 it h,ve hi oft talc- o di;t.-tt
from 1)47 hue et, be: C 14.- e to

be coosichreU ha, it wa, nor aidpped uutit Wedoe,ilay,
or Thursday, and may thei (dote c, me into the halauco-
ishet-...t of the i.eot we,k. weovor, the gnaw:ity ut specie
rec, iv( d from abroad, Mid cra,fly from Ateerici, baa pro-
bably met the &maim for liultund, &c., evt.o allowing
that gold our returned to us imroPdiat,ly for our ship
GUMS to that country.. Thy large addition to the public
deposit account, with some ationeotstion of the private
balances, caused a contraction of the note circulation,
and there could have tre,n very little extra demand fur
money, as the amount of the other securities was but
slightly augmented. Compared with the preceding
week, the changes in the various items are as follow:—
Notes Issued ... 27,758,220
Increase ... ... 120,000
3,326 780
87,424
... 7,164 484
••• 440.568
• 9,423.679
••• 63,401
1,129.290
••• 77,182
▪ N alteration.
11,858,361
••• 54,114
8,847,895
... 384,760
... 14,473.501
... 195 337
... 18,910,325
264,760

Rest

Increase ... ... ...
Public Deposits ... ...

Increase ...
Other Deposits
Increase
Seven Day and other Bills

Decrease
Government Securities
Other Securities ...
Increase ...

Notes ...
Increase

Bullion •• •
Increase ...
Active Circulation...
De crease ...

There was no decline in the rates at which bills of
exchange were yesterday afternoon negotiated upon
the principal cities of the continent, taken in comparison
with the quotations of the previous post day.
Anything that advances the prospect of obtaining a
Tribunal of Commerce deserves notice; and it is satis-
factory to perceive that the proceedings which took
place here on Wednesday are exciting attention even at
a distance from the metropolis. The Scotch, as prac-
tical and shrewd men, are ever foremost to promote re-
form, anti Mr. Francis Lyne, the originator of the
movement, has rec(ived encouraging letters from Glas-
gow, whither the account of Wednesday's meeting was
telegt ephed.
The zm-:unt of the precious malls exported from
London direct during the week ending Thursday last
was 314 oz, in gold, and 296,744 oz. in silver, of
which latter 8,500 oz. went to China, and the rest to the
continent.

The letters this tnnrning from Manchester
report a more active business in piece goods. At Leeds
also there was greater activity.

The Funds, as was to be expected, have suffered from
the resignation of the Ministers. A state of political
uncertainty or agitation is always unfavourable to the
market value, temporarily et leant, of Public Securities.
Consols fell once this morning to 95j, for Money, but
have, not been lower than 96 for Account. The New
Three•and-a Qunrter per Cents. were marked 9S .19
and the Three per Cents. 961 to Bank Stock was
supported at 215 i, and India Stock at 265 to 266.
Exchequer-bills were 465. to 495. premium, and India
Bonds 575. to 635. premium.

Foreign Sacurities have been fluctuating more on ac-
count of the depression in our own Funds. Spanish
Five per Cents. have been marked 194 f. and the Three
per Cents. 374. Portuguese Four per Cents. have real-
ised 32f to 134-. Mexican Bonds, alter being done at 32k,
havo rallied to 33f Buenos Ayres are 54 to I ai.d
Brazilian New 921 to 93. Russiqn Four-and a-Halt
per Cents have been quoted 964 to 97f, and Dutch Four
per Cents. 91i.
Railway Shares have been flatter, and there is a
general decline, though not of serious amount. Much
less business is doing, and the reaction is attributable to
the heaviness of Consols.

QUARTER TO THREiI
... 96i
... 96i
ONE
O'CLOCK.

Consols ...
Ditto Account, March 12 ...