The Sun.
London, England, 1869-05-28 00:00:00

SPIRIT CF THE PUBLIC JOURNALS.

The Times says that the Chancellor of the Exchequer
obtained from the House of Commons on Thursday night
the approval of his scheme as a whole which has been
already expressed by the country. But there was one
question on which discussion arose, and, bad the dis-
putants been so disposed, they might have spent the even-
ing in investigating it. It was complained that the
Chancellor of the Exchequer's proposals to collect the
income and assessed taxes in the first:: months: of the year
would alternately swell and deplete the balances
of the Exchequer, and produce the most unhappy
effects on the equilibrium of the money market.
The Chancellor of the Exchequer protested again
that it was no part of his business to look after the
money market or the Bank of England, but the "approv-
ing remarks of Mr. Morley and Mr. Norwood must have
made him somewhat uneasy about the perfect soundness
of his sentiment. Neither of them appeared to suspect
that the fluctuations in the rate of interest in England
were due to a great economy of money consequent upon
the development of banking which is the product of Free
Trade. In fact, the single objection to the scheme
of the Chancellor of the Exchequer is, not that he
has disregarded the interest of the Bank of Eng-
land, to which, as he rightly said, it is no part
of his duty to attend, but that he may inci-
dentally interfere with an economy of money in which the
whole nation is interested. The less the amount of coin
required for the transaction of business in England the
better it is for us compared with the rest of the world, and
a perfectly equable distribution of receipts and payments
on the part of the Exchequer is an efficient means towards
reducing the amount of money thus required. The accu-
mulation of unnecessary receipts in one quarter may, as
we have pointed out, occasion irregularities in the circu-
lation of the national stock, and thus compel an increase in
its amount ; and the result is to be deprecated, not in the
interest of bankers and money-dealers, but rather for the
sake of all the producing classes of the community.

The Herald thinks Mr. Lowe is generous before he is
just. He has not got a penny in the Treasury, but he
coins nearly three millions in an instant by drawing bills
upon the future, which the taxpayers have to discount
down upon the nail. The House remains impervious to
this obvious truth. It shuts its eyes and opens its mouth,
and takes what Mr. Lowe sends it. The hardship to
which the taxpayers are subjected was treated with equal
indifference. There are thousands who find it compara-
tively easy to pay their contributions to the revenue in
quarterly instalments, upon whom the exaction of the
whole amount for the year in a single sum will be pro-
ductive of most serious embarrassment. It is the duty
of the Government, as Mr. Hunt pointed out, to collect
the taxes at the time and in the mode most convenient
to those who pay them ; but Mr. Lowe's proposal will
inflict upon them the largest possible amount of incon-
venience. Mr. Hunt calculates that the charges on the
Consolidated Fund will amount in December to about
seven millions, and that at that time, supposing the new
system to have come in force, the balance available will
not exceed a million, and he argues that Mr. Lowe can
scarcely expect to retain-office up to that date with the
prospect of having to go into the money market as
borrower just at the time when everybody else is borrow-
ing to pay his demands in January. In fact, the action
of the Finance Minister would exercise a most injurious
influence upon the commercial classes, for it would
immensely enhance the price of money, give a heavy blow
to credit, and have, for the time at least, all the effect of
a panic. There was no motion before the House, the bill
being brought up on the report, upon which any expres-
sion of opinion could he challenged ; but there were
abundant indications that the House is by no means dis-
posed to countenance the independent financial operations
of the great arithmetician who has discovered that there
are five quarters in a year.

The Daily News says that the resistance threatened to the
Budget vanished on Thursday night into thin air. In spite
of the two "whips" which had been issued, the attendance
on both sides of the House of Commons was spare.
During the Whitsuntide recess members have been ming-
ling, if not with their constituents, yet with their friends
and neighbours. There has been a good deal of discus.
sion, no doubt, at quarter sessions, in market-places, at
street corners, and over wine and dessert, on Mr. Lowe's
Budget. Mr. Ward Hunt has returned from North-
amptonshire impressed with the wholesome conviction
that it is not desirable to raise a party-fight upon
it. The sense of the country has been clearly
though silently expressed in its favour ; and with that
instinctive perceptfon of popular feeling which is the
Conservative substitute for political discernment, the
Opposition have determined to acquiesce. Of course they
criticise and protest. It is their business to do that, and
their strictures did not overstep fair discussion. It is
evident, as it has said, that the opposition to the financial
scheme of the Chancellor of the Exchequer has disap-
peared, and that it will pass rapidly into law. The
Government and the country may be congratulated on the
proof which Mr. Lowe has given of capacity to fill one of
the most critical places of the Administration in a manner
not unworthy of the Government presided over by Mr.
Gladstone.

The Telegraph points out that, in consequence of the
change in the dates of collecting the revenue, the
Exchequer balances will be at some periods very large,
and at others so small that they may fail to meet the
requirements of the State. Should Mr. Lowe not have
sufficient money to pay the public creditor, what must he
do to tide over the time between the season of hard-
ship and that of the prosperity which will come
with the influx of the next quarter's revenue? He
suggests that the Government might borrow from the
trustees of the National Debt ; or that it might pay
the terminable annuities at seasons which would suit its
own convenience ; or, finally, that it might get a loan
from the Bank of England. Mr. Samuel Morley took the
opportunity afforded by the discussion to attack the bank-
ing system of England, which, he declared, made us the
laughing-stock of mercantile Europe. That theory may or
may not be sound ; but the fact remains that our banking
system exists, and that our money market is often so deli-
cate as to be thrown into a state of derangement by the
withdrawal of a single million from the Bank cellars. Mr.
Lowe thinks that the money market will take care of itself,
and that the Government is not bound to afford it
special protection. Had the doctrine been stated less
curtly and contemptuously, it would have found more
favour east of Temple Bar. Mr. Lowe also thinks that
good management on the part of the Government will
suffice to guard the money market from the perils which
the City men anticipate. It does not doubt that it will ;
but the discussion of Thursday night was valuable for the
prominence which it gave to the fact that danger of some
kind might exist, and that the statesmen of finance, both
in the City and at Downing-street, must be prepared to
meet any emergency.

The Standard declares that the present state of the
Tornado case, after more than two years of agitation and
correspondence, cannot be said to be satisfactory to the
British public. Out of this somewhat complicated history
we may safely arrive at this conclusion, that the idea of
justice which prevails in Spain is very different from that
to which we are accustomed in England, and that if the
Spanish municipal law has been properly carried out in
the adjudication of the Tornado, that law is a highly
unsatisfactory one, and contrary to the spirit of the inter-
national code. The difference between British and
Spanish notions of justice is sufficiently indicated,
indeed, in the terms of Senor Lorenzana's despatch,
refusing compensation to the Tornado's crew. It waits
with much anxiety to see what further action will
be taken in the matter by the British Ministry. We are
the more curious on this point, as we remember certain
very energetic language used by the present Attorney
General, in a speech, criticising the policy of Lord
Stanley, delivered on the 23rd of July, 1567. On that
occasion Sir Robert Collier declared that "he did not
hesitate to say that the conduct of the Spanish Govern-
ment was entirely without excuse or palliation," and that
Lord Stanley was not only justified in making a demand
for indemnity, but bound to do so—concluding with the
spirited sentiment that "it must be distinctly understood
that there should be limits to the arrogance and imperti-
nence of the weaker Power, and some limit also to the
forbearance of the strong." Will Sir Robert Collier
persuade his colleagues to act up to the spirit of this

opinion ?

After discussing the results of the election trials, the
Star arrives at the conclusion that the Ballot must be
tried, as the only real discouragement of corruption and
educator in electoral purity. It does not say that every
kind of vote by Ballot is necessarily so secret as to prevent
the briber knowing how the tempted has voted, nor that
in all countries where the Ballot exists the most perfect
purity is :,ecured. It is not necessary to carry arguments
to extreme lengths, hut we do not hesitate to say that in
all countries where a transition lms been made from open
to secret voting the change has been greatly in
fovour of purity. Bribery is, after all, a business
transaction. The transaction is not a moral one,
it cannot be left upon the basis of honour, it is purely of
a business character, and that of a very indifferent kind.
The introduction of secrecy in favour of the voter would
destroy the only check which the briber has upon a not
very scrupulous person. As regards intimidation, the
remedy would be perfect. The people of Paris seem
determined to copy from 1:13 the doctrine of responsible
Government. It ought to he-our aim to take from them
the system of vote by ballot. It is at once a protection to
the dependant, a safeguard of purity, and a better check
to corruption. than even the appointment of judges, the I
solemn inquiries, and the explpa ive determinations, which
have recently been obtained.

T;;I: GO IZR.SMEN T AND 71TZ' VOLUN-
TEERS.

On Thursday last a meeting of the Metropolitan com-
manding officers was held at the offices of the National
Rifle Association to discuss the questions relative to the
Wimbledon Review, and in the course of the proceedings
there was a discussion which evidenced that the action of
the Government towards the service is felt to be a very
great wrong. The meeting was very large, and among
those present were--Lord Elcho (who presided), the Mar-
quis of Donegal), London Irish ; Lord Truro, 3rd
Middlesex Artillery, and West London Rifles ; Lord
Gerald Fitzgerald, Queen's Westminsters ; Colonel
Charles Lindsay, M.P., St. George's ; Colonel
Williams, 39th Middlesex ; Colonel Somerset, Colonel
Silver, Colonel Darnford, Ist Surrey Artillery ;
Colonel Cockrane, Colonel Davis, Colonel Wilkinson, 2nd
Administrative Battalion, Middlesex; Colonel Macdow 'd,
Ist Surrey Rifles ; Colonel M'Leod of M'Leod, Middlesex
Engineers ; Colonel Labrow, 19th Surrey ; Colonel
Money, Colonel Du Plat Taylor, Colonel Vickers, Colonel
Beresford, Colonel Gray, Major Oxley, and Captain
Templar. A resolution was moved that a review be held
at Wimbledon on the 17th of July. To this an amend-
ment was moved In the negative, and the reason given
was that, as the Government had refused to increase the
capitation grant, the corps could not afford to expend
the money at their command in attending these
reviews, as the private members, by their attendance
at drill for years, were entitled to have some of the cost of
renewing their uniforms paid out of these funds. Several
of the commanding officers were strongly in favour of
these views ; but when it was explained that the Cm..
mander-in-Chief had given his sanction to a flying column
from Aldershot joining in the review, the amendment
was withdrawn and the motion carried. It was also agreed
that Lord Elcho should be requested to communicate with
the authorities with respect to obtaining the co-operation
of the troops, and in orderthat the necessary arrangements
may be made.