The Sun.
London, England, 1857-04-04 00:00:00

LONDON, SATURDAY, APRIL 4, ISt7,

The Diplomatists—though tardily—we are
glad to see, are really at last beginning to parti-
cipate in some measure with the Warriors in the
national rewards for distinguished services during
the late war, meted out with careful discrimina-
tion by the hand of Our most Gracious SOVE-
REIGN.

Baron COWLEY has the promise of an Earldom
—in consideration of his eminently judicious dis-
charge of the singularly responsible duties devolv-
ing upon Her Britannic MAJESTY'S representative
at the Court of the Tuileries : duties considerably
enhanced in importance by the intimate alliance
latterly knitting more and more closely together
the interests of Franco and England : an alliance
strengthened by the personal friendship of the
SOVEREIGNS and cemented by the blood of their
heroic soldiers, shed like water while fighting side
by side upon the same historic battle-fields.
Mr. WYS E--now the Right Honourable Sir
THOMAS WYSE---bas been not merely "promised,"
but has been very recently " &wetted to," the
rank of K.C.B.—in acknowledgment of the ex-
traordinary zeal, ability, and determination with
which, during many year,^ of most complicated
difficulty and of most anxious solicitude, he has,
in the capacity of Her Britannic MAJESTY'S An -
bassador at Athens, watched over the jeopardised
interests of the Greek Constitutional Government.
Baubles, though mere titles, and. stars, and
ribbons, unquestionably are in themselves, they
are nevertheless at the same time
intrinsically irr=
portant by reason of their significance. They are
the tokens for example, the signal and conspicuous
bkens, of approval on the part of the home Go-
vernment. A circumstance in the last-mentioned
Antance, in the instance, that is to say, of Sir
THOMAS WYSE, of no inconsiderable value, -seeing
that his Excellency is thus publicly commended
by his Sovereign for the bold and energetic course
long pursued by him, perseveringly and unremit-
tingly, in direct antagonism to the Muscovite in-
triguers constituting the customary entourage of
King OTHO and Queen AMELIA 1 Ar€ compence,
therefore, this nomination to the rank of K.C.8.,
calculated obviously b strengthen the hands of
an eminent and deserving diplomatist, at a period
when it is peculiarly desirable that his hands
should be strengthened, and his past services
receive, as they happily have received, the direct
approval of his own Government.

Now that peace has been restored, however
unsatisfactorily, to Europe, it is, at least, incum-
bent upon the Western Allies that they should
adjust with a more delicate nicety and pee_
cisiou than heretofore, that exquisite Balauce
of Power which has been long recognised as the
most substantial guarantee for the perpetuation
of international tranquillity. For this the close
of the Russian War by the Paris Conferences has
afforded them at length a fitting and alluring op-
portunity. Nothing but a Great War—such
as the one recently raging in the Crimea—could
constitute an absolute impediment to any such
undertaking. Minor differences 80 far from being
an obstacle to the desired readjustment of the
Balance of Power, actually afford European Dip_
lomacy "an excuse" for interference ! Differeno.:,
)
we mean, like that once dividing Denmark and
Germany in reference to Schleswig-Holstein—like
that placing Prussia and Switzerland in opposition
to each other in regard to the principality of Neu-
chatel—finally, be it said (in illustration of our
present argument) like that which only the other
day suddenly sprang into existence between
Austria and Sardinia, leading to the immediate
withdrawal from Vienna and Turin of their re-
spective Legations. Differences like these, we
maintain, so far from impeding the labours of
Diplomacy with a view to the more perfect
readjustment of the Balance of Power in
Europe, afford an excuse and suggest an oppor-
tunity. Precisely at such a transition time as
the present in the political relations of the va-
rious States of Christendom, we regard the judi-
cious distribution of rewards to the more dis•
tinguished and the more meritorous Diplomatists
as eminently well-timed and judicious. It is not
only recompence for the past, but encouragement
also for the future. It is the formal and official

endorsing, as it were, by the Supreme Govern-

meat terresentA in the person of the Diplothatie,
of the acts, of the con(luct, of the policy of that
Diplomatic Representative. Viewed in this
light the on slit of an Earldom, • the public
gaz:tting of a K.C.8., becomes an event in its
way important enough, we conceive, to be brought
thus directly under popular consideration.

"The country " has nobly responded to the
"appeal." It is now certain that Lord PAL-
MERSTON will have in the new Paliament not
merely a "good working majority," but such de-
cided support as will enable him to carry every
judicious and well-regulated measure of reform !
he must not therefore repose on his laurels !
He must not think that he is placed in so envi-
able a position merely that he may enjoy the
°GUM, CUM dignitate. He must respond to the
spirit of the Age, as fully and completely as the
nation has replied to his demand. The great
majority are Pahnerstonians, but they are also
something more ! They are at least professing
Liberals, and may reasonably demand that the
voice of public opinion shall be duly respected,
I and that they themselves may be permitted to
verify their hustings' pledges; and thus to prove
themselves worthy of the confidence reposed in
them by their constituents. The time-honoured
proverb tells us that "a new broom sweeps clean."
May not the same be asserted of a new Parlia-
ment ? The new Members will naturally be
anxious to show of what stuff they are
made. One or two sessions must elapse
before they can subside into that comfortable
indifference too frequently exhibited by those
who have become acclimatised in the legislative
atmosphere. The Gaovus home has laurels to
acquire, and many energetic efforts will be made
before each man finds his level in the arena on
which he has so recently entered.
' There are sundry important questions standing
over which there will be no possible axcuse for
disregarding. There is no longer that " finely-
balanced state of parties " to which Lord JOHN
RUSSELL so pointedly alluded when returning
thanks from the hustings as one of the
Metropolitan representatives. The Minister can
carry adequate measures if he desire to do so, and
any backsliding, or shortcoming, may occasion
very serious reaction in the popular mind. The
people can no longer be gammoned by vague
declamation. Acta non verbo, deeds not words,
are required. And should there bo any failure
the fall will be great in proportion to the magni-
tude of the present triumph.
A large and comprehensive measure of Parlia-
mentary Reform is imperatively demanded during
the approaching session. Should Lord PALMER-
STON neglect his duty in that respect, he
will find others ready and willing to take
possession of the ground which he may leave
unprotected. Lord JOHN RUSSELL will be only
too happy to find so good an opportunity of
regaining his forfeited position. And whichever
Noble Lord may undertake the task may rest as-
sured that " the Ballot" is an indispensable
condition. Without it no proposition will bo accep-
table to the people. Mr. LowE's experience at
Kidderminster may serve as a beacon light to his
colleagues, to warn them from the shoals and
quicksands on which they may, otherwise be
wrecked.

The great, the all-important question of mone-
tary reform must also be fully discussed. The
Bank Chatter Act has long since virtually expired,
and it is full time that all uncertainty should be
removed on the subject. The nation has been
kept entirely in the dark respecting the proceed-
ings before the late Secret Select Committee. But
it will not be contented to have the impolitic and
iniquitous Act of-1844 renewed for a prolonged
term without change or modification. I►lany of
the recently-appointed committee no longer have
seats in the Legislature. The body must be re-
constituted, and its proceedings carried on in
the face of day. It is intolerable that the
nominal rate of interest should be from 6 to
8 per cent. Our merchants cannot carry
on their business under such disadvantageous cir-
cumstance:-, and our manufacturers can no longer
hope to be the creators and producers of national
wealth, while all their profits, or at least the lion's
share thereof, are abstracted from the legitimate
owners by greedy and extortionate money-lenders.
During this very week, when the " Old Lady"
advanced the minimum rate of discount from 6
to 6 per cent., the Bank of Belgium reduced its
scale from 4 to 31- per cent. ! How can the
English manufacturers compete with their
rivals under such a state of affairs. It
was the monetary facilities afforded in this
country that advanced Great Britain to its
proud position amongst the producers of the
world. If these facilities be not mere!y with-
drawn, but if money be rendered twice as dear in
England as in Belgium in consequence of artificial
restrictions, we must make up our minds to wit-
ness the decadence of Great Britain as a manufac-
turing nation. The interesting problem requires
n.,t only a complete, but also a speedy solution ;
and we may anticipate very beneficial results
from the "new blood" infused into the Legisla-
ture !

The Income Tax also must receive due conside-,
ration. It has only been renewed at 7d. in the
pound for a single year, and therefore the subject
must come under legislative consideration during
next Session, or at all events early in 1858. The
People have already gained an unquestionable vie.
tory on the point. The demurrer to " the pet-
tifogging quibble " was crowned with complete
SICCI,fBE4. They have thus ascertained their own
strength, and will not fail to avail themselves of
the discovery. But they were just as intent on
the modification as on the reduction of the im-
post. Its equitable apportionment was an almost
universal demand, and it will be well for the ad-
ministration if they t the the initiative on the
point, and not permit so valuable an instru-
ment to fall into the hands of their avowed
opponents. If they take the " Spirit of COCKER"
as their guide—if they act in accordance with the
true fiscal theory, that every man should be taxed
in proportion to his means and the position he
occupies in the
country—they will achieve "a posi-
tion stronger than any ever occupied by their pre-
decessors.ady repeatedly proved
already As we have
industry should be as leniently dealt with as
Possible, while the owners of accumulated and
realised property should be required to contribute
fairly to the liquidation of liabilities incurred for
the protection and improvement of that property,
alike for the past, the present, and for future timer.
The first demands will be " fair" representation,
free trade in money, and equal taxation ; and
along with them, for judicious economy and wise
retrenchment, and thorough purification of the
Augean stables of the law. The new Parliament
has ample work cut out, and it must not show
itself slothful or apathetic in the performance of
the arduous and important tasks for which it I
will be convened within a few weeks.

SEVENTY-SEVEN out of the number of the
" Majority", on Mr. COBDEN'S motion have, by
their vote upon that occasion, lost their seats in
Parliament ! Tw6ntij resigned knowing per-
fectly well that they had no choice of re-election,

Filtu-serer have he'm totally defeated, signally
and ignominiously defoated, upon going to the
Pell. In no majoriV of instances the more sue-
er.,'Esful c-indiclate being an avowed Pahnerstonian !
Altogether, as we have said, SEVENTY-SEVEN of
the Ychites have been denied re-admission to the
House of Commons—purely because of their being
Yehits ! Seven-seven of the "fortuitous concur-
rence of atoms " have been bundled out of the
Legislature by a fortuitous concurrence of circum-
stances ! A very notable act of retribution.

This, moreover—when the list of the new
M.P.'s still continues 100 short of the required
aegregato. The catalogue of MeMbers already re-
turned numbering exactly 558 in all—just (as we
have remarked) one hundred short of the Parlia-
mentary total of 658—shows, nevertheless, already
"seventy-seven" of the Chinese Majority dis-
carded !

There can hardly be any doubt as to what is
really the opinion of the Country, just now, after
THAT!

It is a notable fact, moreover, nowadays—how
many of the aristocracy have been rejected, among
the number of that obnoxious seventy-seven, by
the constituencies. To say nothing of scions of it
such as the Hon. Mr. DITNCOMBE, and the Hon.
C. HANBURY, or of men with the smallest of all
"handles" to their names, such as Sir S. BIGNOLD,
and Sir J. DucxwoßTE, and Sir J. FERGUSON,
and Sir H. HALFORD, and Sir T. HERBERT,
and Sir E. LACON, and Sir H. MAnnocx, &e.,
there may be enumerated—the Earl of ANNESLEY,
and Viscount BARRINGTON, and Lord H. BEN-
TINCE, and the Marquess of CHANDOS, and Viscount
CHELSEA, and Lord W. GRAHAM, and Lord
GUERNSEY, and Lord A. HERVEY, and Lord G.
MANNERS, and Lord NAAS. Every one of whom
—with the single exception of Lord CHELSEA (and
it may be his turn next in Middlesex)—has been
defeated : has not resigned—but has been defeated !
Significant all this—to say the least of it, rather
significant !

The case of Mr. APSLEY PELLATT and the
Royal British Bank is one worthy of the more
attention, because it has less of the marvellous in
it, and, we are sorry to say, is but of too com-
mon a kind. Perhaps scores of respectable gentle-
men who would scorn to participate, knowingly,
in a fraudulent transaction, are, through mere
remissness, or over confidence in their coadjutors,
the most effective instruments of middle and upper
class frauds. A gentleman, and man of business,
his hands being already too full, is applied to by
some friend to give " the New Company" the
benefit of his name. Ee replies that the project
seems fair and promising, that it seems likely to
be advantageous to the public, and to its mana-
gers and shareholders too, but that he could not
,possibly give to the business the requisite atten-
tion ; that, in fact, he could be of little service.
"Oh 1" the reply is, "if we could have your
practical attention to it, that would no doubt be
of great service, but your very name would be a
tower of strength—you are known to, and much
trusted by, a large class, andwe want persons on
the Direction whom men of different classes look up
to." Probably in some such way Mr. MACGREGOR
appealed to Mr. PELLATT—but whether he did
or not, half the gentlemen in the City who have
acquired any position in business or society know
what it is to be appealed to in this way.

Mr. PELLATT'S conduct at the board was at
least just that of many who are inveigled in this
manner into some public company. They attend
Board meetings as often as suits their convenience;
Mr. Tuffs—and Mr. Tx AT-are personally known to
them, and the other directors appear to be re-
spectable gentlemen ; nothing suggests a suspicion
that all is not going en, honestly at least, and no
doubt prosperously ; the documents handed to
thorn for signature have been prepared by those
who understand the business thoroughly, while
the supplementary directors, who are indeed but
gilding to the show-Board, know little of it. They
do not like to waste the time in asking explana-
tions, perhaps think it might look like mistrust of
those who had been in dice beforo them ; they
sip, therefore, as a matter of course, asking no
questions for conscience sake. There has been
an understanding, indeed, that they are wanted
for show, not for work ; their names accomplish
all they were wanted for, and they do not feel
responsible for anything beyond routine.

If things be honestly and industriously managed
by the working Directors and the Staff of the
Office, why all ig well, and no more is heard of it.
A good name has advertised a good concern, and
the public and the concern share the advantage.
The many instances in which things have thus
worked well has probably encouraged worthy men
t believe that companies may be left, like seed, to
grow up they know not how ; but when moral
- and pious talkers turn out to be impious and im-
moral swindlers, then the dummy director is sus-
pected by the sufferers of being like his comrades.
The stork among the cranes shares their fate ;
and it is well for him if, as in Mr. PELLATT'S
case, he is in a position to prove that he has not
joined in the knavery, though he suffered unwit-
tingly his name to recommend it—indeed to make
hundreds believe that they wore dealing witlimen
of honour, when they were shovelling their money
int) the tills of swindlers.

Mr. PELLATT'S unpleasant position is, we re-
peat, a most valuable lesson to honest men.
Lessons are wasted on rogues, but gentlemen who
have a character which they wish to keep unble-
mizled, will learn from it the error of becoming
sleeping, or at least dozing, directors. We remem-
ber a judge in a bankruptcy court once telling a
most worthy man, to whom, unhappily, the re-
mark was pertinent to the letter—that he recom-
mended all persons to avoid sleeping partnerships,
lest some morning they might wake up and find
themselves in the Gazette. With equal propriety
may we caution a respectable gentleman not to
become a dozing director, lest some day lie find
his company shutting the office doom, and
himself under Mr. LINLLATER'S scarifier in a
Court of Bankruptcy.

We entirely believe in [Mr. PELLATT'S non raj
recordo answers. He obviously gave himself no
trouble whatever about the personelle of the office,
the cash book, the ledgers, the balances, or even
the particulars of published statements to which
his name was attached ! It may appear incredible,
now that the extent of the resulting mischief is
but too apparent, yet it would seem that nothing
aroused him to suspect danger, except the
d
" unbanking-like " affair of the Welsh
mine. He himself deposited with the bank
and received nothing from it ; yet he ap
pears to have suspected nothing, though officers
and directors, at the time of his leaving, were
ndebted to the bank some 30,0001..1 Mr. PELLATT
was not, however, wholly a dupe; he partly trusted
those whom he knew, but he partly shut his vet,
also.
Ilvnec, though believing and contending at
the Board that a bank had no right to workmines,
mines, and to lock up money in them, he yet re-
signs
speaksnot
hopefully the
ocfa
theuse
efh i in
his
company,resignation,
a letternde l
swh whichi
es
sells
hisle o i
t shares at a discount.
Was he afraid that if the letter had denounced
the mining transactions, it might Lave leaked out

that it dal so, and have injured the company
Many a man has, from such motives, concealed the
reason of his w:thdrawing from a company.
We trust the painful position in which Mr.
PELLATT has been placed will have a salutary in-
fluence. It cannot be denied that the system of
sham-directorship is utterly wrong; and it is well
that the consequences of it should sometimes be
sufficiently penal to make others cautious. Mr.
PELLATT'S intentions and views were unquestionably
those which he stated in court; he thought he was do-
ing the public, as well as the company service ;
and he is doubtless deeply mortified to have aided,
through sins of omission, in ruining many, and
embarrassing more. It is not of course to be ex-
pected that each Director on a board can be inti-
mately acquainted with all the details of the busi-
ness, but it is the bounden duty of each to know
thoroughly the nature of the principal transac-
tions, the state of the balance-sheet, and the re-
gular course of the business. Directors ought
indeed to divide between them the supervision of
the respective departments of the business, and
the entire Board ought to be cognisant of the re-
sults in each department, and the bearing of those
results on each other, and on the general result.
To the public generally the lesson will be to
put no trust in mere names. The folly of wor-
shipping his Grace, er a list of M. P.'s, as the
Guardian Deities of a Campany, has almost died
away ; we have now to give up relying on names
of men of undoubted business capacity and integ-
rity, if we cannot be sure that they take a working
interest in the management of the concern. Gen-
tlemen will learn not to become Directors where

they direct nothing, and the public to inquire
what part those whom they trust take in the
business.