The Sun.
London, England, 1856-05-19 00:00:00

THE NEW LOAN OF FIVE MILLIONS,

The Loan has been this day concluded. The
Chancellor of the Exchequer has accepted the
offer made, and he will this evening call on the
soi disant guardians of the national purse, to
affirm the contract. We have already explained
the nature of the gross aggression on the unques-
tionable privileges of the House of Commons, which
should atone be sufficient to prevent the ratification
of the bargain. He has wilfully and deliberately
usurped an authority to which he is by Ro means
entitled, and that damning fact should prevent
really independent members from sanctioning
the transaction, however favourable it may be in
other respects.
By a time-honoured and excellent rule, any
amendment of the 'Upper House on a financial
question will be rejected ! Why, then, should
not a similar regulation be adopted with respect
to any interference on the part of the Crown,
which would be even more objectionabfe than on
the part o: the collateral legislative body ?
In the present instance, as in that which occurred
in February, Baron ROTHSCHILD was the only
bidder. The conditions offered were such as to
discourage any competition, and to offer a hand-
some premium to the middle men, or loan mon-
gers, who merely come forward in the first in-
stance without any intention of seeking perma-
nent investments. The tender was also below
the minimum contained in " the sealed paper."
Erebruary it was nearly 1.75. Gd. ; at present it
is 9s. 3d. per cent., and nearly 22,0001., or
21,9331. Gs. Bd., has been saved to the tax-payers
by " the sealed paper." The following is a brief
report of the proceedings at the Treasury, viz. :
A numerous attendance of capitalists took place
this morning at the Treastfry to take part in
the bidding for the new loan of 5,091,0 Y)/
Shortly after 10 o'clock a.m. the hour appointed for
the business, thegentlemen in attendance, includ
in!
Baron E. Rothschild, Sir A. Rothschild, Dlr. J
Lapel, Mr. Norbury, Mr. Biddulph, Mr. R
and Mr. T. Thornton, Mr. B. C )hen, Mr. L
Cohen, Mr. Marjoribanks, Mr. Lawrence, Mr
Cazenove, d c., were reanivecl. by Lord Palmer
ston, the Chancellor of the &;:chequer, an
Mr. J. Wilson, on the part of the G .varammt,
The Governor and Deputy-0-)vernor of the Bann
were also present.
The Chancellor of the Exchequer' having handed
to the Governor of the B Ink a sealed paper, con-
taining the minimum terms which the Government
were prepared to accept,
Baron L. Rothschild observed there was ono
rather important question which he wished to ask
—What were the intentions of the Government
with regard to Exchequer Bills ?
The Chancellor -of theh
Exc equer—l stated at
our previous meeting what were the intentions of
the Government. We hve no intention, at least
no expectation, of issuing Exchequer Bills. I pre-
sumo it is to issuing bills you refer ?i
Baron Rothschild—No, not exactly that.
The Chancellor of the Exchequer—won,
as to
the rate of interest, all I can say is that notice
upon that subject will shortly be given, but I am
afraid I can't give any further information just
now.

Baron nothschild,—Tho Government then have
no intention of funding.

The Chancellor of the Exchequer.—No. That I
stated before, that the Government had decided
not to fund at present.

Baron Rothschild.—The question to be decided
is whether you will increase the rate of interest,
for that may make a difference in the terms. Ex-
chequer Bills in their present position can scarcely
ho said to float.

The Chancellor of the Exchequer—They are no:.
at a very greatdiscount yet, and that is a question
which at present cannot Ise decided. Is there any
gentleman present who is disposeel to make an offer
for the New Loan ?
Baron Rothschild handed in a paper containing
his tender.
No other tender being offered,
The Cimaajor of the Exchequer oFenci th

enmity.
Should the nuptial conl-ract be concluded we
cannot expect any assistance in the hour of need.
Prussia will look solely to the " German" side of
the question, or rather to that which seems most
to her own advantage. But if, on the other hand,
she should be involved in difficulty, then Eng-
land will be dragged into the scrape. We
tannot suffer the husband of our own PRINCESS
ROYAL to be driven from his dominions by foreign
aggression or domestic discontent. After the pre-
cedent established in December, 1851, we cannot
cope to find many Ministers who will declare that
" England has no Cousins." We have suffered
so much from the Hanoverian connexion that it
should scareAly be necessary .to inculcate the
impolicy of German Alliances.
But setting aside even this important argument
against the Match, let us look to what may be the
consequences should there be a failure of the issue
of her MAJESTY in the male line. There are at
present four Princes, and it is to be hoped that
•:otne may perpetuate the race without look-
ing to the House of HOZENZOLLERN for an heir to
the British Throne. Bat we must remember that
Queen VICTORIA was the representative of the
fourth son of GEORGE 111. The Royal Marriage
Act operates very unfavourably to lep:tintate and
recognised offspring. What occurred in the
beginning may also be repeated in the latter
part of the century, and with many Noble
Lords and Ladies, and Captains, Madames, and
naderaoiselles descended from Royalty, there may
be few whose claims to the Crown can admit of
argument- England may then be amalgamated
with Prussia The Prussian Sovereign may rule
over the
United
Kingdom and the Court of St.
James's be Presided over
by a Prussian Viceroy !
What may be the conse
We already know-too quences of such a result ?
ur cost the effects of even
I mitigated form of Germanism. Saxe Coburgis
not very satisfactory. What would be the Prus-
sian rule? Every true-hearted Englishman can
supply the answer.
There is yet time to interpose the authority of
the British Parliament—to address the Crown in
opposition to the contemplated match, that may
yet prove a firebrand to Europe. Let the so-
called guardians of the public purse take
c,nd declare that thq will not