The Sun.
London, England, 1858-10-05 00:00:00

deception upon the country. That must, in my
opinion, be the necessary result of any proposal
which may be made at the present time for parlia-
mentary reform, and I will add that, as it seems to
me, it is the only legitimate basis upon which such
a proposal can be made." Again, tt e Radnorshire
farmers come in with their sonorous approbation—
with cries of "hear, hear," and "cheers." Decidedly,
however, the most significant portion of this Re-
form Harangue, by the ex-Chancellor of the Ex-
chequer, is that in which he first descants at very
considerable length, not to say tediously, upon the
need there is, in the first instance, to be
perfectly certain that there is a clear ne-
cessity for taking the initiative in the way of
reform. After showing how very clear the case
was in 1832, the Right Hon. Baronet intimates, as
plainly as words can well imply anything, that the
same necessity is not by any means so apparent
now-a-days—or otherwise, to express it yet more
explicitly, that he can't so distinctly recognise the
Necessity which, according to him, ought to be the
incentive. Not, he admits, but that—" it is said
that the circumstances of the times demand a syste-
matic plan of parliamentary reform. I am not
disputing that proposition, but I only say that any
Government which brings or proposes to bring for-
ward a plan of parliamentary reform is bound to
state distinctly what is the evil they profess to
remedy, and what are the defects in our present
system which they intend to remove." Manifestly,
therefore, Sir GEORGE is not yet by any means
quite clear upon that head. He yet requires to be
informed as to the nature or even the existence of
the defects said to require improvement. Very
well—upon that topic we dare say the DERBY
Cabinet will contrive in due time to enlighten him
and his (upon this subject of parliamentary reform)
extremely obtuse ex-colleagues. Their obtuseness
hitherto upon that vital topic has been of the same
preternaturally dull and leaden character as that
which once upon a time extorted from Sir HUGH
EVANS the despairing ejaculation, " 0 vat de igno-
rance is !" Happily, however, the Schoolmaster is
no longer exclusively " abroad"—but politically
gives promise of being perfectly " at home" during
this next important session of Parliament.

Notwithstanding the determined opposition
offered to the Turkish Loan—an opposition that has
almost assumed a political rather than a mere
pecuniary character—the scrip is now in demand,
and premium was paid on Saturday. There can
be no doubt there are parties who profit largely
by the disorganised state of Turkish finance,
and who would willingly make consider-
able sacrifices in order to prevent the ame-
liorations which may be anticipated from
the completion of the loan, and the subscription of
the full sum of five millions sterling, and which
would deprive them of their gains. There are
" hard calculators" concerned in the affairs of
Turkey—as well as of Great Britain—who, provided
they can make money, are little solicitous as to the
manner in which it is accomplished, or the mischief
occasioned to the best interests of the nation in the

process.
Many, too, have political animosities to gratify.
They hate the Ottoman Government with the
utmost intensity, and would fain accelerate the fate
of " the sick man," whose anticipated recovery has
occasioned great annoyance. These persons are
fully aware of the effect that must neces-
sarily be produced by the receipt of a sum
sufficient to restore a healthy state of affairs.
Three millions will, probably, five millions, certainly,
achieve the object which the well-wishers of the
Porte have at heart. "The first sum has virtually
been obtained, but if the scrip could be kept at a
discount the remaining two millions may not be
advanced. Every nerve has therefore been
strained to depreciate the security, so as to dis-
courage the holders, and prevent them from avail-
ing themselves of the valuable option at their. dis-
posal.
The same game was played before when the
Six per Cent. Loan was contracted. Although the
security was unexceptionable, the Egyptian tribute
of £250,000 per annum, guaranteed by the great
European Powers, being specially hypothecated
to provide for the interest, it was assailed in every
possible way. Every ursine device was resorted
to. The result was that it fell to a considerable
discount ; so that three millions only were raised,
the remaining two millions not being called for.
The object having thus been attained—and the
illegitimate influences removed—it made rapid pro-
gress upward, and from 86 or 87 went to above a
hundred, and it is now in round terms 98, thus
handsomely repaying the parties who came for-
ward on behalf of Turkey in the hour of need. A
similar course has been attempted, but, as we have
stated, not with the like success. The English
capitalists cannot be a second time deceived, and
seeing that the security is ample, and the interest
more than 7 per cent., while little more than 3 can
be obtained elsewhere, they will gladly avail them-
selves of such beneficial investments.
The Ottoman Bank, which is calculated
to operate so beneficially in Turkish af-
fairs, also incurred the hostility of those
opposed to the Government of ABD-UL-MEDJID and
the integrity of the Turkish Empire. Owing to
causes clearly and distinctly explained by Mr.
LAYARD at the meeting of the shareholders on the
22d ultimo, although very considerable profits had
been realised at Constantinople profits that
equalled, if they did not exceed, all previous anti-
cipations—they could not be judiciovsly transmitted
to this country, in consequence of the unfavourable
state of the Exchanges. The mere announcement
of the contemplated loan, however, made so great a
difference in the rate, that the Bank was enabled to
declare a dividend of 5 per cent., which is much
less than may be confidently expected for the future.
The natural result has followed—within a month
the shares on which £2O had been paid were selling
at £l6, or 4 discount, and that although the divid-
end-day was at hand, and the due proportion of
more than five months' profit was to be added to
the original capital. On Saturday it sold at 19/
ex dividend, so that the recovery has been close on
£4 a share, or more than 20 per cent. within a few
weeks.
And so it ought to be, with an unexceptionable
direction, including Messrs. LAYARD, GLYN and
HANKEY. With every prospect of having a most
important and valuable field opened up for future
operations, there is every reason to suppose that
everything will henceforth be as favourable as could
be hoped for.
We have alluded to the Ottoman Bank merely
in consequence of the important position which it
occupies in reference to the future of Turkey. It
was the pioneer that cleared the path for financial
progress. It has laboured steadily and beneficially
in the arduous duty it had undertaken, and we are
rejoiced to see that it is at length in a fair way of
realising the profits to which it is fairly entitled,
for the sound calculations on which its operations
were framed, aid the judicious liberality with
which they were conducted.

Last week, in alluding to the final report of the
Encumbered Estates Court in Ireland, we explained
some of the multifarious causes that rendered the
operation of pick a tribunal, not only beneficial

(for it would be beneficial anywhere), but even
indispensable, in the sister kingdom. The prin-
ciple enunciated by the late Mr. DRUMMOND, that
" property has its duties as well as its rights," has
passed into a proverb, " familiar to our lips as
household words." It has been practically acted
on even in the case of perfectly solvent proprie-
tors, who have been compelled to surrender
portions of their estates at a valuation when
it was required for carrying out some public
work of general utility. It was acted on in the
construction of every railway and canal, and had
been recognised long before Mr. DRUMMOND had
acquired a name, fame, and reputation. THEODORE
HOOK availed himself of it in one of his most
humorous novels, where Daly, in consequence of a
wager with " Gilbert Gurney," enacts the part of
surveyor to a certain Grand Junction Canal Com-
pany, pacing furiously over the carefully tended
garden, and hinting that a considerable
portion of the cherished conservatory must come
down, and it was more than hinted that it was a
scene of real life, in which the author himself had
been a prominent actor. So clearly was this per-
ceived, that when gentlemen wished to resist part-
ing with their lands—save at exorbitant prices—
their opposition was invariably conducted on public,
not on private grounds. The rule of society was,
that every man should part with a portion of his
rights and privileges for the benefit of the general
body with which he was associated, either from
the accident of birth or his free choice, by becoming
a citizen or resident in the country.

If ever there was a case where the doctrine
should be brought into practical operation, it was
that of encumbered proprietors, whose lands were
charged nominally to the extent of half their gross
produce, but really to a far greater extent.• In the
calculation no allowance could be made for bad
debts or defaulting tenants, or for various out-
goings which could not possibly be avoided by any
owner, however involved. Such persons could not
improve their lands. That was completely out
of the question—so wild an improbability,
that it was never even thought of. Not
even tenants for life, although in the enjoyment of
the full returns from their estates, would aggran-
dise their eldest son at the expense of all their
younger children. The former, under any circum-
stances, would have ample means at his disposal;
the latter would be but little better than aristocratic
paupers, unless, through the "family interest,"
they could be in some way quartered on the public
purse, by being initiated in the mysteries of red
tape, or becoming pillars of the Church by law esta-
blished infthese realms. It therefore became essential
to the welfare of the million, so as to render the
lands as productive as possible, and to make them
produce two blades of grass where only one for-
merly grew, that a legal process should be devised
to get rid of the drones and obtain industrious bees
in their places. For this purpose the Encumbered
Estates Court was established, and although by
some interested parties it was denounced as amount-
ing to " confiscation," it was generally regarded as
being framed on the soundest and most constitu-
tional principles, and as establishing a principle
that may eventually lead to very important results.
It was on the 25th October, 1849, that the first
petition was presented, and from that time to the
31st August, 1858, there were 4,413 petitions pre-
sented and 3,547 absolute orders of sale made. We
shall not at present enter into the very interesting
particulars given in the important statistical docu-
ment which appeared in The Sun of Saturday last.
Suffice it to say that, under the jurisdiction of the
Court, no less than £23,161,397 was realised,
of which £21,934,696 has already been
distributed, -while out of the balance sums
have been allocated to trustees and others
which, from divers causes, could not be paid out of
court, and others are the subject of conflicting
claims. What more need be said to prove the
efficient workings of the Court, which will expire
on the Ist November next, and which exercised
such an important influence in promoting the wel-
fare and prosperity of Ireland, and the comfort and
happiness of its inhabitants.

THE QUEEN IN SCOTLAND.

BALMORAL; OCT. 2.

Her Majesty the Queen, and their Royal Highnesses
Princess Alice and Princess Helena, rode to the Falls of the
Gaeravalt, attended by Lady Churchill.
His Royal Highness the Prince Consort went out deer
stalking.

His Royal Highness Prince Alfred went out shooting,
accompanied by Lieut.-Col. Ponsonby and Lieut. Cowell.
His Royal Highness the Count of Flanders arrived at
Balmoral, on a visit to her Majesty. His Royal Highness
was attended by Capt. Burnell.
Sir Charles, Lady, and Miss Phipps had the honour of
receiving invitations to dinner.

Should this fine weather continue, the Court will not
leave Balmoral for Windsor Castle so early as has been an-
nounced by three days, consequently it will arrive at
Windsor on the 20th instead of the 17th inst. Preparations
have been made at Frogmore Lodge for the reception of the
Duchess of Kent.

The Duke de Carricialo has left the Brunswick
Hotel for the Continent.

The Earl and Countess of Jersey and Lady Cle-
mentina Villiers left town on Saturday for Middleton Park.
The Earl and Countess of Albemarle and the
Ladies Keppel have left Quiddenham Hall, Norfolk, on a
visit to Sir John and Lady Shelley at Marsfield Park,
Sussex.

The Earl of Portsmouth has left Howchin's Hotel'
St. James'-street, for his seat, Eggisford House, North
Devon.

The Countess de Ribeaupierre and family have
left Claridge's Hotel, for Paris.

Lord and Lady Foley arrived at Worksop Manor,
Notts, on Saturday, from visiting Lord and Lady William
Powlett at Downham Hall, Suffolk.
Lord Crewe has arrived at his residence in Hill-
street, from Crewe Hall, Cheshire.
Lord Churchill has arrived at Maresfield Park, on
a visit to Sir John and Lady Shelley.

Sir Robert and Lady Emily Peel have arrived
from the Continent at Drayton Manor, where they intend
shortly to receive company.

Lady Chantrey has returned to Claridge's Hotel
from Richmond.

Mr. Thomas Baring, M.P., returned to town yes-
terday from visiting the Chancellor of the Excaequer at
Hughenden Manor, Bucks.

A marriage is about to be solemnised between
Mr. Basil Fitzherbert, nephew of Mr. John Fitzherbert, of
Swynnerton Park, and Miss Stafford Jerningham, eldest
daughter of the Hon. Mr. Stafford Jerningham, and niece
to Lord Stafford. The ceremony is to take place at his
lordship's seat, Costessy Hall, towards the middle of this
month.

A marriage is to take place on the 21st instant
between Mr. Beriah Botfield, M.P. for Ludlow, and the
eldest daughter of Sir Baldwin Leighton, Bart.
The TEA TRADE, Oct. 4.—The deliveries in
London, estimated for the week, were 812,2901 b., which is
an increase of 4,0461 b. compared with the previous state-
ment.

.NANA SAIIIB.—The Nana is said to be about 18
miles from Dhorghuree, in Oude, in his juni;lc of bamboos.
B
His companions are stated to be ala, Raba Bhut, Oodgir,
Abba Dhanwoh Dharee, Rannoo Tantia, Gangadhur Tantia,
Baboo Khan Kuttay, Shah Allay, Ahmedoola, and Ma-
homed Ishaq, of Shahjehanpore. The number of his own
adherents has much decreased since the defeat of the insur-
gents at Kazeegunge, but it is stated that he has about
2,200 budmashes hanging about him.—Bombay Times,
Sept. 7.
ATTEMPT AT MURDER.—THORNBURY, SUNDAY.
—About two o'clock this afternoon an attempt was made
by a man named William Holister to kill his own son-in-
law, Joseph Gough, by stabbing him. On inquiry, it was
found that Holister had been drinking all the morning, and
on returning home angry words arose between him and
Gough, and Holister seized a knife and stabbed Gough in
the throat and tern*, inflicting two very serious wounds.
He was stayed from doing further injury by Gough's
brothers, or doubtless he would have completed the tragedy,
The poor fellow immediately started off to Mr. Long, sur-
geon, who, on examining the wounds, found them to be so
serious as to cause him to take him off with all speed to the
Bristol Royal Infirmary. The opinion of the medical men
was that the case would be fatal. Holister wan immedi-
ately takeu into custody.