The Sun.
London, England, 1834-01-08 00:00:00

to him as implicated in a revolt, and to pardon
them without abating a jot of his hatred towards
all who had been guilty of the crime of loving
their country and labouring for its emancipation.
If we take the debtor and creditor side of the
account, as between the Emperor of RUSSIA
and Humanity, how will it stand ? To the
massacre of fifty thousand Poles in an unjust
and cruel war ; to the legalized murder of several
hundreds by sentence of the tribunals ; to the
cruel banishment of several thousands to the
mines of Siberia, and the dockyards of Cron-
stadt ; to the plunder of churches, the violation
of religion, and the forcible degradation of its
ministers ; to the general spoliation of Poland ;
and, finally, to the confiscation, i❑ particular, as
stated in the paragraph with which we com-
menced this article, of the property of several
thousand Pules who are declared incapable of suc -
ceeding to the inheritance oftheir parents.—Then
comes the credit side—" By the pardon of fifty
Poles on my Saint's Day, who, by the report
of my own agents, had been implicated in a
conspiracy." Such is the account. Should it
please PROVIDENCE to cut the EMPEROR short
in his career, and to call for the balance, it must
be paid up in a way which must make the true
Christian shudder to reflect upon. Great as the
EMPEROR is in worldly dignity, there is not a
beggar on the face of the earth who ought to
envy his condition. DIVES of old was but a type
of the Emperor NICHOLAS.

The following article appears in the Allge-
meine Zeitung of the 2d inst. The explana-
tion of the Austrian Observer is only satisfac-
tory so far as it denies what the Courrier
Francais had stated as to the partition of
Turkey. We wish it had gone further, and
given us some insight into the nature of the
alliance for the preservation of the Ottoman
Empire

AUGSBURG, JANUARY 1.-The Austrian Observer
contains some observations on an article of the Courrier
Francais, which purports to be "an answer to the
Austrian Observer on a project for the partition of
Turkey."

The Courrier Francais affirms that every body knows
that such a project is in contemplation between Russia,
Austria, and Prussia. The Austrian Observer says, in
conclusion, " The Austrian Cabinet does not consider the
preservation of the Ottoman throne as a subordinate ques-
tion, but as one of the main objects of its policy ; and
we are prepared to repeat this assertion as often as the
Courrier Francais may wish.

We are not afraid of the manner in which our decla-
rations will be received by all friends of order and poli-
tical peace.

AUSTRIAN FUNDS.

Dec. 27.
Five per Cents 94 21-32
Four per Cents.
Bank Shares

Dec. 23.
94 3.6
S 4 I,i
1225

The Hamburg Papers, which arrived this
morning, state that the Duke of CUMBERLAND
was to set out on his return for England on the
10th inst. It was generally understood that the
" Illustrious" Duke intended to remain at least
one session abroad ; but no sooner does the an-
nouncement that Ministers intend to attempt
further reforms, than this champion of Con-
servativeness hastens to take his place in the
van of his party. There is some credit due to
the Duke for consistency and boldness, although
we could wish to see those qualities displayed in
a better cause.

There is a curious article from Berlin on the
rumoured views of the French Cabinet in Africa.
It is said that LOUIS PHILIP contemplates se-
curing his own dynasty by a coup a la Bonaparte
in that part of the globe. If so, he is above
the prejudices of evil augury. It will be re-
membered that CHARLES X. projected the
invasion of Algiers from a similar motive ; but
the success of the French arms there, rather
accelerated than retarded his overthrow.

The annual meeting of the Shipowners'
Society, the partial account of which we gave
yesterday, is concluded in another column, and

is worthy of notice. Every man who spoke
sings the old song of the necessity of protection,
in spite of the continued proof which has been
given that the Legislature has not the power,
even if it were just, to grant them what they call
protection. They make a mighty clatter about
the result of the inquiry which took place

last session, as if proving, which it undoubtedly
did, that their profits are now lower than they
were in times past, established the point for
which they contend. " The evidence," said the
chairman, Mr. GEORGE FREDERICK YOUNG,
" which had been taken under it was published,
and had been read by many individuals with the
deepest regret for the afflicting statements which
it contained. Time after time, and year after
year, they had been calumniated; and the object
which they had in view, and the means by which
they proposed to effect that object, had been
equally misrepresented. They had been de-
nounced as monopolists, as men in pursuit of
selfish interests, utterly disregardful of the inte-
rests of the nation. It was now proved that
they were not so. They had reiterated tales of
distress, but that distress had been denied."

This is a complete misstatement of the ques-
tion. The charge brought against the ship-
owners of desiring a monopoly was merely an
incidental one, nor was the fact of their being
distressed, that is, of their profits being reduced,
ever denied. It has been denied that embarking
money in shipping has proved nothing but a
source of loss, because, in the face of these
pretended continual losses, fresh ships have
every year been built. If a man builds
a ship knowing he shill not sell it for
what it costs him, he is a fool. If a man pur-
chases a ship knowing that he shall lose money
by its navigation, he is equally a fool. Now the
ground upon which it has been said that the
shipping interest is not so distressed as it pre-
tends to be is that no one can be persuaded
that, in the face of unvarying loss, either the
shipowners or ship-builders would be the
dolts they are sought to be made out.
That the capital of shipowners yields less
than it did, so far from being disputed
is a natural consequence of the present
state of the country. When the number of
labourers is greater than the profitable employ-
ment to be given them, the wages of labour,
that is, the profit of labouring naturally falls, from
the competition of the labourers to get