The Sun.
London, England, 1867-05-17 00:00:00

L. lIYAM, 36, GRACECHURCH-STREET,

CITY.
L. lIYAM, 189 and 190, TOTTENHAM-
COURT-ROAD, WEST.

- - -
HYAM'S ATTIRE FOR MEN, BOYS,
and Youths for Immediate Wear, for the Season of
1867, is upon the most extended scale, and at greatly re-
duced prices.

LHYAM'S GENTLEMEN'S DEPARTMENT
• is replete with every novelty for the Season,
including West of England Cloths, Fancy Coatings,
Trouserings, &c., &c. Fashion, fit, and taste in combinu-
tion with reduced prices.

lIYAM'S LIGHT OVERCOATS FOR
-LA • the Present Season embrace every novelty in de-
sign and material, no Garment can be made to fit better.
They are tasteful and elegant, aad very moderate in price,
varying from 165., 18s., 215., 285., to 355.

LHYA.M'S STOCK OF BUSINESS AND
• Walking Coats for the season is specially designed
in every Fashionable Style and Shape from the choicest
materials. Prices for Business Coats, 12s. Gd., 15s. 6d.,
18s. 6d., to 21s. Walking Coats, 215., 285., 355., 425., to
50s.

LHYAM'S STOCK OF GENTLEMEN'S
• Trousers for the Season, comprehends all the
novelties. Such a rare displly is not to be seen elsewhere.
12s. 6d., 13s. 61, 14s. 6d., 165., 17s. to 21s.

L. HYAWS STOCK OF WAISTCOATS
for the Season contains the most beautiful patterns
and materials. ss. 6d., 6s. 6d., 7s. 6d., 9s. Gd., 10s. 6d., to
12s. Gd.

lIYAM'S BESPOKE DEPARTAIENT
L.maintains its renown for talented cutters, accu-
rate fit, and durability of Workmanship. The Materials
are new in design and style, and the assortment is the
largest in the Kingdom. Prices aro framed Upon -the
'• most economical basis.

T_JIIYAM'S YOUTHS' AND BOYS' ATTIRE
• for the Season stands pre-eminent for taste, excel-
lence and cheapness. L. HYAM still maintains his fore-
most position in this Department.

LHYAM'S BOYS' SUITS FOR SCHOOL
. and eyery day wear are especially adapted for
the Season, and will be found to be exceedingly strong
and durable, 18s., 215., 255. to 30s.

L.HYAM'S BOYS' SUITS FOR BEST
Wear, choicest material, finest qualities, beau-
tifully trimmed, and will ensure the approbation of
Parents and Guardians. 30s. to 355.

HYAM'S BOYS' SUITS MOST
L• strongly recommended as combining all tho excel-
lencies of Material, Fit, and Workmanship. They present
a gentlemanly and elegant appearance. 355. to 455.

LHYAM'S BOYS' SUITS ARE MADE IN
• every Style and Shape, including the Knicker-
bocker, Eton, Rugby, and Harrow Suits ; they are plain
or braided, and adapted to a variety of tastes. The
greatest care is taken both in the goodness of material
and soundness of workmanship—thus ensuring that dura-
bility eo essential in Boys' Clothing.

yOUTFIS' SUITS OF A PIECE ADAPTED
for Youths from the Age of 14 to 18 years can be
had in great variety of material, most tasteful in design,
at a small advance on the above prices.

HYAM'S MODE OF BUSINESS IS
L. to buv all the most Fashionable Fabrics direct
from the best Manufacturers, thus avoiding all interme-
diate profits; to have all Garments made under his own
supervision, in order to insure good Style and durable
Workmanship and Make. Every article is marked in
plain figures, at the lowest possible price, thereby in-
suring the purchaser economical prices, combined with
equitable dealing. No Garment need be kept after pur-
chasing if not approved.

L. HYAM, 36, GRACECHURCH-STREET,
CITY.
L. HYAM, 189 & 190, TOTTENHAM-
_

COURT-ROAD, WEST.

DR. SCOTT'S LIVER AND BILIOUS
PILLS.—A NEVER FAILING REMEDY.--Pre-
oared without any mercurial ingredient, from the recipe of Dr.
Scott, of Bromley, Kent, will be found Invaluable to all who
iuffer from bilious and liver nomplaints, indigestion, wind,
Tams, giddiness, dizziness of the eyes, &o. For habitual
ostiveness, as a family aperient medicine, and as a purifier
of the blood, they are truly excellent; mild in their opera-
tion and grateful to rho stomach, they create appetite, pro-
mote digestion, and strengthen the whole nervous system.
Prepared only and sAd by W. Lambert, Chemist, R, King
William-street, Charing-cross. London, and by most drug-
gists, Ln boxes,ls. lid., and three times the quantity in one,
2s. Pd. Be sure to ask for Dr. Scott's Bilious and Liver Pills.
The genuine are a square greet: oackage. with " William
L‘roberf "An,rave.i -s the stamp.

PR IN TIN G. —TO PROPRIETORS OF
NEWSPAPERS, PERIODICALS, &c.—The Print-
ing and Machining of Newspapers, &c., done ou exceed-
ingly favourable terms. Use of Editorial and Publishing
Offices, if required. Estimates forwarded on receipt of
particulars, with stamped directed envelope for reply.
Address—The Manager "Sun" Printing Offices, 3, Church-
row, Savoy, Strand, W.O

jXHIBITORS at the PARIS EXHIBITION,
who ADVERTISE in " THE SUN," can have the
SERVICES of A SPECIAL AGENT in PARIS, whose
address can be obtained at " The Sun" Office. He has a
perfect knowledge of French, is also acquainted with busi-
ness, and has good connections. On application to " The
Sun" Agent in Paris, either personally or by letter, he will
obtain every possible facility for Exhibitors, or persons
who may have other business in Paris, or who may go
there for pleasure only.

ONE HUNDRED and SIXTY-SEVEN
DESTITUTE ORPHANS are being maintained in
the ALBERT ORPHAN AST LUNI. Collingwood Court,
Bagshot; surrey. FUNDS Kreatly needed for their support
CHARLES A. WALKER, Sec.
Offices, 96, Cheapside, E.C.

THE LONDON FEVER HOSPITAL has
-1- URGENT NEED of FUNDS.—Donations and Sub-
scriptions will be thankfully received by :%Ivssra. Dloasdale
and Co.. 50, Cornhill ; 11Iebsre. Druonmon.l and Co., Ch tring-
cross; Mum's. Coutts and Co.. Strand ; Mes.ra. Hoare,
Fleet-street ; and by the undersigned, at the Hospital,
Liverpool-road, N., CHARLES FINN. Sec.

HELP for the DESTITUTE SICIC,
MET ROPOLITAN FltEi HOSPITAL. Devon-
shire-square, City. Instituted for the immediate gratuitous
Relief of the Sick Poor of every Nation and Creed, without
letters of recommendation. FUNDS are urgently needed to
maintain its efficiency.
BANISERS—Measrs. Barnett, Hoaxes. and Co.. 62, Lombard-
street. JNO. GURNEY FRY, Chairman.
GEO. CiiOXTON, Secretary.

GREAT NORTHERN HOSPITAL,
Caledonian-road, :ftlington, N.
Supported by Whiny try Contributions.
This Hospital has relieved 481,954 patients since it was
established at King's-cross in 160. Patients are admitted
free.
BANKERS—Messrs. Barnett, Lloyds, and Co., 60, Lombard-
street ; Messrs. Ransom and Bouverie, 1, Pall-mall. HON.
OEC.77_lri Bmitb, Esq. saaata-z RELD, se%

EUROPEAN ASSURANCE SOCIETY.
Empowered by Special Act of Parliament.
CHAIRMAN—Gen. Sir FREDERIC SXLIT El, F.R.S.
Policies payable during life, indisputable, not liable to
forfeiture.

The ROYAL NAVAL, MILITARY, and EAST
INDIA Life Department, affording peculiar advantages to
Officers and others in the Navy and Army, is under the
especial patronage•of - •
lIER MOST GRACIOUS MAJESTY THE QUEEN.
Annual Premium Revenue, upwards of £310,000.
New Premium Income in 1865 exceeded £62,000.
Life, Fire, Guarantee, and Annuities at advantageous
rates.
The European is the only Society authorised by the Im-
perial Parliament to Guarantee the Fidelity of Govern-
ment Officials.
Full particulars of the popular principles of this Society
will be found in the New Prospectus, which will be for-
warded to applicants, post free.
Offices 316, Regent-street ; 17, Waterloo-place, Pall-
mall; and 69, King William-street, City.
HENRY LAKE, Manager.

CLERICAL, MEDICAL, AND GENERAL
LIFE ASSURANCE SOCIETY.

BONUS MEETING, 1867.

The Report presented at a Meeting hold on the 3d
January last, for the declaration of the EIGHT/1 BONUS,
showed,
1. As TO THE PROGRESS OF THE SOCIETY,

that, during the quinquennial period which terminated on
the 30th June, 1866,
NEW ASSURANCES for a total stun of£lslBlBl'
and yielding £50,497 in Annual Preadums, had hee4
effected, of which sums the former exceeded by-£31,811,
and the latter by £2,392, the corresponding items of any,
previous period ; that
THE INCOME had increased fr0u2£195;400 t0£215,321-
per annum ; and that ' •
THE ASSURANCE FUND, after payment -of. £85,303
on account of Bonus at the last Division, had risen from
£1,422,191 to £1,619,539.
2. As TO THE FINANCIAL POSITION OF THE SOCIETY.
That the Assets on June 30, 1866, were £1,619,539 14 8
And the Liabilities on the same date ... 1,343,708 19 2

Leaving a surplus of £275,830 15 6

and that, after setting aside £50,000 as a special Reserve
Fund,

THE AVAILABLE PROFIT was £225,830 15s. 6d.,
of which sum £225,000 was recommended for division.

3. As TO THE RESULTS OF THE DIVISION.
That the portion of this sum of £225,000—viz., five-sixths,
or £lB7,soo—which fell to the Assured, would yield a

REVERSIONARY ADDITION TO THE POLICIES
of £272,682, averaging 45 per Cent., or varying, with the
different ages, from 32 to 85 per Cent. on the premiums
paid since the last division; and that the
CASH BONUS, which is the exact equivalent of such
Reversionary Bonus, would average 26 per Cent. of the
like premiums.

The Report explained at length the nature of the In-
vestments and the bases of the Calcula,►.ions, the results of
which, as above shown, are eminently favourable.

The next DIVISION OF PROFITS will take place in
January, 1872, and Persons who effect NEW POLICIES
BEFORE THE END OF JUNE NEXT will be entitled
at that Division to one year's additional share of Profits
over later Assurers.

Prospectuses, For:ns of Proposal, the 11,?port above men-
tioned, and a detailed account of the proceedings of the
Bonus Meeting, can be obtained from any of the Society's
AgeNtlior
GEORGE OIJTOLIFFE, Act:nary:anti :Recretaty,
13, St. James's-squara, London, S.'ff.

PAINLESS SYSTEM OF DENTISTRY.
Just published, price 3d. Post free four stamps.
TOTAL ABOLITION OF PAIN
IL IN DENTISTRY.
„
By Messrs. GABRIEL, the old established DENTISTS,

a, LUDGATE-RILL, CI CY,• Lond.m.
56, 11A KT, EY-ST ft E V, W.,
131, DUKE-STILE E r, LIVERPOOL.

SPIRIT OF THE PUBLIC JOURNALS.

TIMES. —Mr. Gladstone may fairly claim to have
won a victory last night. Reform was laid aside for
the evening, and the House of Commons was asked
instead to discuss a difficult question of • finance.
The‘National Debt Bill, embodying the,proposition.
contained- in the Budget of the Chancellor of the
Exehequer for the conversion of part of the public
debt into terminable annuities, came on for a second
reading. Mr. Disraeli was, of course, the sponsor
for the bill, but, as he confessed when he introduced
his budget, the real author of the scheme was Mr.
Gladstone. The late Chancellor of the Exchequer,
following up previous attempts of his own,made the
suggestion last year,which Mr. Disraeli, under hap-
pier auspices, is enabled to adopt and carry out this
session. The idea of applying part of the surplus
towards the reduction of the National Debt, and the
machinery for carrying out the idea, are alike due to
Mr. Gladstone, and when the measure now before
Parliament was opposed as it was last night he
naturally came forward in its defence. The House
of Commons, by a large majority, supported the
second reading of the bill, and Parliament, as well
recommended by the leader of the Opposition.
as the Ministry, have thus approved the plan first
The precise form of the amendment before the
House of Commons was a resolution affirming the
propriety of reducing the Insurance Duty till
Fire s
further before taking any steps towards the reduc-
tion of debt ; but in the course of the discussion
the demerits of the Fire Insurance Duty were en-
tirely disregarded, and the debate was almost
strictly confined to the question whether it was de-
sirable to attempt the reduction of the National
Debt at all, and, if so, whether the scheme embodied
in the bill was a proper method of effecting its re-
duction. It cannot be said that the arguments
were all on one side. It may, in truth, be acknow-
ledged that the overwhelming majority in favour of
the bill-162 to 38—was a tribute to Mr. Glad-
stone's authority, rather than a p•Oof of
conviction
following upon his reasoning. Mr. Laing was the
foremost champion in opposition to the schemes of
redemption, and some branches of his argument
were left untouched by Mr. Gladstone's spirited re-
ply, It was easy to reply to Mr. Laing's charge
that the plans of reducing the National Debt, of
which we have heard so much in the last two years,
were " new-fangled."' schemes devised by way of
doing something " sensational," in imitation of the
United States. The reduction of our permanent
burdens has been an object with every Chancellor of
the Exchequer from the time of Mr. Pitt down-
wards, sometimes pursued with more zeal than dis-
cretion, but never lost sight of and never aban-
doned. The employment of terminable annuities
as a means of reducing the debt has been sanctioned
by an equal concatenation of authority. Mr. Laing's
charge of novelty was entirely groundless, and he
only weakened his case by allowing precedent to be
cited in what might have been restricted to a bare
discussion of principles. The simple question whe-
ther it is desirable to pay off any part of the Na-
tional Debt was slurred over by Mr. Gladstone, as it
was at a later stage of the discussion by the Chan-
cellor of the Exchequer. It is plain that there is
no obligation of honesty or even of honour requir-
ing us to pay off any of it. The nation is bound
to make certain yearly payments to its creditors,
but there is no obligation of any kind to redeem
these annual payments. If it be fitto redeem them,
it must be from considerations affecting present and
future generations of taxpayers, and having no re-
ference to the creditors of the nation. The question
of redemption is thus a matter of policy, and must
to determined by a comparison of the effects which
the alternative course of remitting taxation and
paying off debt produce. If we suppose the Chan-
cellor of the Exchequer to have a surplus of a mil-
lion and to apply it in remission of taxation, the
taxpayers are relieved from a portion of their in-
voluntary expenditure. Mr. Laing, borrowing
Lord Sydenham's phrase, says the surplus " fruc-
tifies" in their pockets. It would do so were
the sum thus saved from involuntary expenditure
accumulated or invested , iu some,. undertaking,
but if the remission of taxation becomes merely
an occasion for au addition to the ioluutary oz.

penditure of the taxpayer there can be no fructi-
fication. If, indeed, we suppose the reduction of
taxation be such as to set free some crippled in-
dustry, immense incidental benefits may arise, and
there can be little doubt that Mr. Laing's remark,
that it would be wiser in the government of the
United States to simplify their scheme of taxation
than to perseVere in a process of redemption, was
just. There was a tune when the freedom of in-
dustry was with us a paramount necessity but its
fetters are now cote partively light. On the other
hand, if the million be apolied in the reduction of
debt, it is tolerably certain that the capitalist who
receives it will not squander the sum but will seek
fresh modes for its investment. He will expect
higher interest than be was contented to receive
when he hal the security of the nation for its pay-
ment, but the money will not be lost. The com-
parison, therefore, between the two plans of dealing
with the surplus is a comparison between the volun-
tary saving of a portion of the millions and its direct
application by the taxpayer who saves it, and the
involuntary saving of the whole of the million and
its indirect application in loans by the fundholder
who is paid off. The issue depends on the amount
which will be voluntarily saved, and this may be
assumed to depend upon the amount of remission.
If there be a considerable reduction of taxation,
much of the nun' gained by the taxpayer is saved;
if the reduction be. a dribblet, it will be spent.
Confined within the narrow limits proposed by
the Chancellor of the Exchequer, the policy
of applying a surplus towards the reduction of
debt seems indisputable. The propriety of the
method adopted is open to still less doubt. Mr.
Laing said the plan of Terminable Annuities is a
bad form of Sinking Fund, and so it is when the
Annuities are granted to any-and every purchaser.
Under such conditions the Chancellor of the Ex-
chequer binds himself, in contracts from which he
cannot escape, to repay definite portions of the na-
tional burdens in every successive year, whether he
may have a surplus or a deficiency. But the scheme
embodied in the Bill before Parliament last night is
not open to this objection. The Terminable Annu-
ities created by it are granted to the Chancellor of
the Exchequer himself. As the banker of the
trustees of Savings Banks, he has a claim on the
nation to the extent of twenty-four millions, and
the National Debt Bill is no more than a solemn
resolution of Parliament to pay off this debt at a
rate little exceeding a million a year for the next
eighteen years. If troubles come, if a deficiency
arise, if loans be necessary, the resolution may at
any moment be rescinded. 'Fhe contract is between
the right hand and the left, and the power which
enacted it can undo it. Meanwhile, there appears
among tile annual claims on the nation a charge of
a million, and a sum which might be otherwise a
subject- of -. contention is withdrawn from the too
greedy gaze of the -House of Commons.

IMPERIAL PAR_LIA.HENT
HOUSE OF LORDS.—LAST EVENING.
The Loup CHANCELLOR took his seat on the woolsack at
five o'clock.