The Sun.
London, England, 1851-03-18 00:00:00

THE. SUN, LONDON, , TUESDAY EVENING, MARCH lB, 1851.

inefficient, but would support a Bill for establishing a
supervision over monastic establishments.
Mr. GOULBURN considered the rescript of the PorE a
violation of the compact of 1829, and at variance with
the spirit of the Emancipation Act. He would support
the Bill, although ho thought it inadequate to meet the
case.
Sir H. W. BARRON said the Bill would create continual
disturbance in Ireland.
Mr. CALVERT considered the measure as one purely of

we assume the total value of real estate in this
country to be 2,500,000,0001. sterling, and we believe
the estimate to be by no means exaggerated, we shall
find that the improvement in the market value will
be no less than 250,000,0001. sterling; nearly one-
third of our national debt, or worth something
more than the produce of the income-tax and
malt-tax—supposing that these imposts were
perpetuated. Here, then, is a boon of no
ordinary magnitude, far better for the land-
owners than the revival of Protection. The
practical monopoly accorded by a bread-tax would
not be equivalent to the removal of the legal nets and
cobwebs by which the titles to their estates have been
surrounded. And yet this important measure is passing
almost sub silentio, attracting but little attention, and
regarded as of trivial importance. We would, how-
ever, invite public attention to the admirable sketch
which the Noble and Learned Lord gave of the
law of real property from the most ancient times,
which proved that our ancestors required the most
perfect putlicity in all matters connected with the
conveyance or transfer of land, and that we are only
returning to ancient principles in insisting on a full
registration of all deeds in any way relating thereto.
We shall not at present enter into the details of the
project. The matter has most properly been re-
ferred to a Select Committee, where it will
be fully dismissed and maturely considered In all its
branches, and from whence it will, we trust, emerge
in a more perfect form—in a form worthy of the im-
mense nations' importance of the subject.

THE S

RKETS.

self-defence.
Mr. CHA.RTERIS said there was no danger from Ro-
man Catholic ambition, nor any doubt of Roman Ca-
tholic loyalty, and therefore he considered the Bill un-
called for.
The SOLICITOR-GENERAL, in a most eloquent and ar-
gumentative speech, proved that in no country in Europe
had the POPE a right to create dioceses without the
consent of the State; that the new prelates were by the
canon law endowed with extensive temporal authority,
and with a civil status, and, as an illustration of the
encroaching ambition of Rome, he adduced the
abnormal appointment of Dr. CULLEN, followed as it was
by the Synod of Thurles. After alluding to the Roma-
nist tendencies exhibited by several admirers of the
" picturesque" in religion in the Church of England, he
concluded by declaring his intention of supporting the
measure as the mildest possible enactment that could be
devised for preventing Papal encroachment.
Mr. CARDWELL denied that the proposed Bill would
either prevent synods or the introduction of the canon
law; it was just large enough to irritate, and not large
enough to satisfy, and therefore he should oppose it.
On the motion of Mr. ANSTEY, the debate was ad-
journed.
The House rose at Half-past Twelve.

The debate on the Ecclesiastical Titles Assuinption
Bill drags its slow length along. Three nights have
already been consumed on the question of the econd
reading, in addition to the five previously wasted on
the almost. formal question of obtaining liblrty to
introduce the measure, and yet no one can venture
to say when the discussion will come to a conclusion.
To use a " fancy" phrase, the combatantsi seem
"fresher than when they came to the scratch."
Their bloods are thoroughly up, and they
mean mischief and no mistake." Will; this
week see the division ? We can scarcel' con-
ceive how the unfortunate SPEAKER could b4r the
infliction for a longer period. The fervid, impas-
sioned eloquence of the Hibernian Membersl must
begin to " pall his weary ears ;" any change
whatsoever would be a relief to that much bored
man. We can almost conceive his attending sk "an
amateur " on the estimates, or appearing hit the
House as a private Member, when relieved from his
official duties by the Chairman of Committees, ra-
ther than submitting to another evening's, de
bate on the Papal pretensions. It is, '‘
ever, manifest that Ministers look foi
to an almost interminable discussion. In anss
a question by Mr. DISRAELI, as to when the B
would be brought forward, Sir CHARLES 1
said, " Not on Friday. It is impossible to say
long this debate will take. It (i. e., the Bu
will come on the first night after this debate."
have it thus on official authority that the pry
Budget will not come on on Friday, and that it
come on the first night after the debate. Erg®, the
debate will not terminate before Friday. We must,
however, recollect that the respondent was our excel-
lent Minister of Finance, and we must make some
allowance for the natural anxiety that must be felt
by that unfortunate person to postpone the evil day
when his " crotchets" will be gibbeted before the
popular branch of the Legislature. We have heard
of criminals on their way to execution who could
rejoice at the temporary respite afforded by a stop-
page of the thoroughfares, although they knew that
their miserable existence would only be prolonged for
a few brief moments thereby ; and as,`. owing to the
withdrawal of Mr. BAILLIE'S motion, the "
Pxa-
CIOUS BUDGET" must again be brought forward,
its unfortunate author eagerly clutches at an
additional day's delay, at any expense of time to the
country. How can we Wonder at the loud and gene-
ral complaints of legiaative supineness, and the vexa-
tious delays that must take place before acknow-
ledged abuses and grievances can be remedied,
when the public time is so wantonly and recklessly
thrown away in the most valuable part of the

Console.
Ditto Account

Icious

session ?
Few of the " great guns" have as yet come for-
ward during the debate. We have had, however,
three new aspirants for senatorial honours who
made their voices heard for the first time within
" the QUEEN'S Palace at Westminster." We have
already spoken of the sensation created by the
maiden oration of Sir ROBERT PEEL, who eminently
merited the congratulations he received, and gave
ample promise that he would one day acquire a Par-
liamentary reputation worthy of the heir and repre-
sentative of his distinguished and lamented sire,
Mr. H. KER SEYMER, the second postulant, spoke
briefly, but to the purpose, although we do not
suppose that the sentiments to which he gave utter-
ance will prove very acceptable to his constituency.
Mr. CALVERT, the new Member for Aylesbury, made
a very creditable " first appearance" on the Parlia-
mentary stage, during which he chiefly applied him-
self to answering the arguments of his old opponent
of the Court of Chancery, Mr. ROUNDELL PALMER.
The speech of last night was, however, that of
the SOLICITOR-GENERAL,WhO took a sound, practical,
common-sense view of the subject, and did much
to relieve the diluted measure of the odium that has
been cast upon it. The Right Hon. Gentleman clearly
exposed the fallacies that bad been put forward by
the advocates for non-legislation on the subject, who
assert that it was a merely spiritual authority that
was exercised by the Sovereign PONTIFF. If that ar-
gument were once sanctioned—if it were admitted that
" means which were illegal and unconstitutional,which
involved a violation of our municipal and constitutional
laws, a violation of the public law of Europe,
an invasion of the sovereignty of the State,
an outrage on the national independence, should be
tolerated, because some persons might please to as-
sert that these illegal and unconstitutional acts
were necessary to the due development of their
religious opinions, there would be no limit or
boundary beyond which it might not be carried." The
Thug might justify his amiable weakness by assert-
ing it was only the conscientious performance of his
religious duties. It is not in this manner, however,
that we understand the glorious principle
of universal toleration. Each man should
be at liberty to exercise his own judgment so
far as he himself is personally concerned, but he
should not be allowed to insult his fellow-subjects, or
to do anything forbidden by the statute or common
law of the land. This liberty is best expressed by
the legal maxim—Sic utere au°, ad alienum non Was.
We give the most extensive privileges to our Roman
Catholic brethren, so long as they do not encroach
upon the sacred and inalienable right which we
claim for ourselves as Protestant subjects of this
Protestant State.

We rejoice to find that the Loan CRIER' JUSTICE
of ENGLAND has taken charge of the Registration of
Assurances Bill, and that it will be carried through
the House of Peers under his auspices. We have
long since pointed out the vast importance of such a
measure, and the great relief that would be thereby
afforded to the landed interest, not merely to
the owners of real. property, but to all persons in
any degree interested therein as occupiers or encum-
brancers. It is almost unnecessary to recapitulate the
frauds and losses to which purchasers, mortgagees, and
others are exposed under the existing system, and
from which no amount of precaution can effectually
protect them. The delays and expenses necessarily
encountered in every dealing with land, whether
a permanent transfer or a temporary change, are un-
fortunately but too well known, and we have no
hesitation in saying that they materially de-
preciate the value of land throughout the
country. If the territorial aristocracy knew
the price that they are paying far these ab-
surd, would we could say " obsolete" remnants of the
feudal law—and the regarding "land" as something
so sacred that the title thereto is not to be touched
by profane hands—they would speedily know the price
that they
r htatif for their whistle." There
can be n no
arednb
land could be cheaply, n "paying
cer-
tainly, and expeditiously transferred or charged—
disposed of like stock in the public funds, or in any
of our great joint-stock companies, at a few hours
notice, and a few shillings outlay, its value
-in. the market would be greatly enhanced,
ifleaat ten per cent. on the ordinary price. If, then,

MONEY and COMMERCIAL NEWS.
CITY, TWO O'CLOCK.
The sales of Cotton at Liverpool yesterniay were estimated
at 8,03 u bales, of which 3,000 American were taken on spe-
culation. The sales comprised about 7,000 American, 30)
Pernam and Maranham, at 73/4d. to 81/Id. ; 150 Baiiia, at
73/4d. to 710.; WO Egyptian, at Scl. to 83/4d.; and 500
Surat, at 43/4d. to 5 k;,d. per lb. The market was firm, at
previous rates.—ln Railway Shares a good business was done
at higher prices.
The letters by the steamer Baltic, from the United States,
have been delivered this morning, but add very little to our
previous news,
A very important case came up before the Supreme
Court of Illinois, at Springfield, early in January last. It
excited considerable interest. An agreed case was filed, and
it was moved that a peremptory mandamus be issued to
compel' the auditor of public accounts to draw a warrant upon
the Treasury. for the proceeds of the two mill tax levied and
collected under the provisions of the new Constitution, to be
applied on certain State bonds, presente 1 for payment the
first clay of January, 1851. The motion was resisted on the
following grounds
1. That the Governor of the State was the person
charged by law with the appropriation and disbursement of
the two mill tax.
" 2. That the State had a right to retain a pro rata share
of the tax, and apply it upon the deposit made by the United
States with the State, under the Act of Congress for the dis-
tribution of the surplus revenue, us that deposit was a debt
due by the State.
"3. That certain interest bonds had been presented to the
Governor, and that the holders of these bonds had a right to
share, pro rata, with other bondholders.
" 4. That all bondholders had a right to share in the dis-
tribution of the fund in controversy, notwithstanding they
failed to present the bonds for payment on the first day of
January, 1851, the d.y fixed by law for their presentation.
" Written arguments were filed for the relators, and for
respondents.
" The Court announced their decision, awarding a pe -
remptoiy writ of mandamus according to the motion.
By this decision four important questions are determined,

viz.:—
'° 1. That the auditor is entitled to the appropriation and
disbursement of the two mill tax.
" 2. That the surplusrevenus deposit is net a debt against
the State.
" 3. That this fund is to be paid on the principal of the
State debt, and is to be applied in discharge of the interest.
"4. That tho'e creditors who failed to present their bony s
on the Ist of January are not entitled to share in the di,tri-
bution of the fund.
"Under this decision, 165,699 02 dolls. in specie was paid
towards the eltinguishment of the State debt of Illinois.
"The probability is that a large amount of the Internal
Improvement Bonds of the State will be presented for pay-
ment curing the present year, each of which will be entitled
to.a pro rata share of the amount of the two milltax.collected
during the year 1851."
For Public Securities the market has been quiet again.
Consols have been quoted 96% 1/2 for Transfer, and 96V., %
for Account.' Exchequer-bills have realized 535. to 565.,
and India 'Bonds 595. to 625. premium. Bank Stock for Ac-
count has been marked 215.
-- •

Business in the Foreign Market has been as dull as in
home securities. Spanish Five per Cents. are firm, however,
at 20% to %, and the Passive Bonds 5. Mexican Stock has
been quoted 33% to %, Cbilian 103, and Buenos Ayres 58.
Nothing has been done in Russian, Dutch, or Danish Bonds.
The Railway Share Market has suddenly undergone a
very decided change, and sales being generally pressed
with the view of realising profits, the fall in, prices is in
many instances as much as 21. per share. The Lancashire
and Yorkshire are worse, to that extent or rather mere; the
North-Western have dropped about 1/., the Great Western
11. 10s. ; the South-Western, 1/. to 11. 10s. ; and the Mid-
land, 1/. 155.; East Anglian are 10s. to 1/. worse ; Aberdeen,
10s. to 15s, lower; Great Northern about 7s. 6c1.; Blackwall,
5s ; and others in proportion. The foreign lines keep in
favour. Sambre and Meuse have been done as high as 5% ;
Boulogne and Amiens 111/ ; Dutch Rhenish, 4% ; and Tours
and Nantes, 714.

8514
20%
2031