The Sun.
London, England, 1844-04-04 00:00:00

proceeded, in voting supplies to the Crown for va- t Fives have arrived at, the reimbursement is a vio- -
rious public services, since the re-assembling of lence, a revolutionary act. It is only revolution which
Parliament—remarked upon the large vote of men can assert that 100 f. pay 125 f." -
taken this year for the navy. Men and boys to. The Constitutionnel, though it has changed pro-
gether it amounted to 36,000. This was about prietors, is evidently still under the influence of M.
10,000 more than in the year 1835 for example ; and Miens. In a witty article on French colonization,
much higher than the scale on which such a vote had it thus ridicules the peaceful policy of the GUIZOT
been taken of late years, except, indeed, in 1840, when Cabinet :
from peculiar circumstances, it was to the amount of " A report begins to be murmured, that before three
43,000 men and boys. The vote of this year would mfo roe
smonths sill,
aavl
il
nh a
hv ee
eelapsednwienshthalel rneacmeieveofthFerneanwee
s
show that, on the part of the House, there was no ofo somepse far distantgisland, some remote corner of the
niggardly disposition to cripple this all-important earth, forgotten by the great colonisers of the world.
force ; but it had got abroad, that our force in the Our Ministers, like true Robinson Crusoes, are always
Mediterranean was to be reduced to a very small
in search of desert islands.
They are truly modest;
they ask not for either credit or influence on the Conti-
force indeed—it was said, that only one sail of the neat; they content themselves with gleaning some scat-
line was to be left there. Such a proceeding, if it tered rocks in distant seas, and disperse in small detach-
was really contemplated, would not be consistent ments the soldiers whom they know not what to do
with. The occupation of the Marquesas has been for
with the general policy of this country. Our sta- our Ministry the starting• point of a political system.
tions, in that sea, and the great interests with which Relying too implicitly on the good-will and moderation
our relations connected us in the adjacent countries, of the English Cabinet, it has fancied that it might make
required the presence of a strong naval force. a show
in the eyes of the French of braving the jealousy
of England by extending our maritime possessions. It
Events might determine in these quarters— expected to obtain some little popularity in France
however unlikely to happen at present—of a nature to by making this display of ability, and the toleration of
disturb our existing amicable relations with England by the modesty of its enterprises. It is evident
that we have statesmen who are determined to deprive
foreign Powers, whose counse.s it was of course im- ];'ranee of ill freedom of action by exhausting her re-
possible for us to control. In such a case, however sources. We formerly saw our Government determined
easily the force we might have at the time in the Me- to have peace at any price, but also preserving the
diterranean could be restored to its resent, or even means of action in case of being called upon to make
P
legitimate
defence. The system is now perfected, and
made up to a greater complement, any such sudden the stability of the country is insured by reducing it to a
augmentation might create much alarm, and appear state of impotency. Certainly there is no man in France
who thinks of war. Lord Aberdeen and M. Guizot have
tantamount to a declaration of war. The Noble Lord
recently raised a fanciful accusation against their adver-
proceeded to argue on the rumoured intention of saries, but which destroys itself by being made simulta-
Spain to interfere with Morocco, and the growing neously on both sides of the Channel. If we listen to
indications of political discontent and movement in the two Ministers, the Whigs on one side and our
Italy ; that diplomatic representations on our part to Liberals on the other have come to an understanding for
provoking a war between the two countries. They con-
foreign Courts might be rendered necessary, spire together to gain the liberty of fighting each other,
which representations could never be made but not a man in France thinks of war, and the dispo-
with so much effect as when backed by
sition of men's minds was never more pacific. NeVerthe-
less, tho Ministry is not sufficiently assured of a continu-
the exhibition of an adequate amount of ance of
peace. It carries its fears to the extent of pas
force in all parts of the world where such exi- sion. Mice Moliere's Miser, who hung himself in the ex-
genciesmight develope themselves. He could not
cess of his apprehension of being robbed, our Government
view without deep apprehension, the prospect of any dfrisoamnntisieheexce:Str
otefyiisaffeidarrsendlsersthiets:tlrfronakßedillotfodbeferse 1
such extensive reduction, therefore, in our Mediter- cussed? We learn from its journals that the Mineistiry-
ranean squadron as had been talked of. Sir ROBERT does noowish the army to be too numerous, nor too
PEEL'S statement, in reply to Lord JOHN RUSSELL, well prepared, in order that the country might feel itself
too weak to go to war, Are the ways and means to be
with a great number of the Right Hon. Baronet's brought under consideration? The Ministry exagge-
stereotyped common places (such as, " that grounds rates them beyond all measure; it burdens the Treasury,
at one stroke with immense ,public works, and, instead
equally strong might be alleged for maintaining a
large naval force off the coasts of America, in the
of applying the whole of the disposable resources to one
greatoect,
tithedmispfeorrsetshefuture.
themt amongore
lve many,hav
have
nseorder o
wt o
Pacific Ocean, or in the Baltic, as for keeping such a compromise
force in the Mediterranean,") contained one somewhat abroad, it has multiplied our bonds, and is still seeking,
remarkable intimation : at all points, the means of restraining the motions and
embarrassing the resolutions of France. Thanks to the
"The Government," said Sir Robert, " may have perseverance with which this system has been pursued,
thought it advisable to have a fleet of eight sail of the countryouortiati will soon be like Gulliver, whom the Lint-
line in the Channel for the purpose of exercise, and fastened down in his sleep with cords, so numer-
Pous, that, when he awoke, he found himself incapable of
sent to the Mediterranean if their services are required
ready to meet any exigency. These vessels may soon be
stirring, and obliged to yield to the mercy of his enemies."
there ; and it is surely a great advantage to have
an available force in a position from whence their We find no later intelligence from Italy in these
power may be concentrated upon any station re- papers.. ,11
quiring its presence—(Hear, hear)—and do not let the The Funds on Tuesday had advanced, the Three per
Noble Lord suppose that there is any danger of our in- Cents. to 83f. 20c., and the Fives to 1221. 65c.
terests in the Mediterranean being injured because our
force happens to be off the mouth of the Thames, or - THE BOURSE—TUESDAY, APRIL 2.
cruising in the Channel. Our interests in the Mediter-
French Five percents.... First Highest Lowest Last
ranean are doubtless very important, but I need not here
.. Price.
.. 112216 .. ITTO .. 112ni
enter into the particular reasons which may induce the
Three per Cents..... 83 • • 83 10 •• 83 .. 83 10
Bank of France..
Executive to appropriate our force in other quarters." ..........3160 • • 3160 ..3160 -3160
On these reasons he was unwilling to enter. Latlitte Bank, I,ooof. Sharesll4o • • 1140 .. 1140 . • 1140
5,000 f. Sharessl3s - 5135 . • 5135 ..5135
Viscount PALMERSTON, who ably vindicated the Belgian Bank -•• • • • ....... 662 50 •• 662 50 .• 660 • • 660
Belgian Fives,
course taken by Lord JOHN RUSSELL on this occa-
. 1840 lOB • • 108 •• 1(16 .. jos
sion 1842
ested the „demonstrated that the cases sugg by Dutch Two-and-a-Half ... - 59+ •• sn •• 59-1 • • 591
Premier were by no means parallel ones : Spaulsh Active
" Our commercial and political relations are of more Threes
Tissive
importance in the Mediterranean however, than any- Portuguese Five per Cents.. .14 :: 476! ••
: 4gi ••• 4761
where else on the face of the globe. More things may Neapolitan ..... ......• •• • . 101 40 - 101 40 .. 101 25 .. 101 25
happen there in'which the interests of Great Britain are Roman •• . ..... . ~....... 1061 .• 1061 • • 1061 • • 1061
concerned than could happen elsewhere. If, there- RAILWAY SHARES.
Versailles, R.B . . 4OO .. 405 • • 400 .. 405
fore, the Government intend only to maintain one L.B •• 275 .. 285 •• 275 .. 282 50
sail of the line on that station, I contend that the Rouen •• 930 .. 930 • • 930 .. 930
would not be properly representing British interests Rouen to Havre.......... .. 700 .. 764 75 .. 700 - 768 75
in a quarter in which they require the most scrupu- •Orleans .... . Ila l. e
lous care and attention. I can testify, from my own Avignon to Marseilles.: ...... :: 1067 50
.. ..... •
.... 910 :: 911( g.. 910} .. 910 6
.. 767 50 ..
•• 766 25 ..
WT 500
experience as Foreign Secretary, that nothing is more
SHARESR.. AILWAY FOR MARCH ACCOUNT
St Germain - 820 • • 820 820
common than for British merchants connected with the 820
Mediterranean to apply for protection and assistance. Versailles',lr ............. 390 .. 400 .. 390 .. 400
- Rouen to sure..h"* '••••• ' • • • C 4 505 ..
922 50
..
6992,
65g •. 922 50
Considering, too, the difficulties which will arise from 273 750 .. 286 25 .. 273 75 .. 286 25
time to time in that quarter, I think it not a wise dis
tribution of the naval forces to have only one ship of the Orleans •• •. - ... .......... 907 50 .. 912 50 .. 907 50 ..
912 50
Strasburg to Bale ...... .... 300 .. 302 50 • 300 .. 302 50
line in the Mediterranean, and not the ordinary amount Avignon to Marseilles...... 765 • • 767 50 .. 765 • • 767 50
of force usual on former occasions." RAILWAY SHARES FOR APRIL ACCOUNT.
What we are to infer from the cautious, yet signi- Ver`aille3, "3. •••••• • • • • • • 390 .. 405 - 390 - 403
L. 8............. 275 .. 288 75 • • 275 .. 268 75
ficant, phrase employed by Sir ROBERT PEEL we do amen •• • • ....... ••• • • .... 937 50 .. 937 50 • • 930 .. 930
not quite understand. But it is, at all events, satis- Orleans
nstb Havre.. - ........ .101123 50 :.. 7,1 g 50
:.. 7901 g .... ,
•7012
factory to observe that, while Spain, Portugal, Naples, Strasburg to Bale
Avignoa to Marseilles. • 767 50 . • 770 • • 767 50 .. 770
and the Papal States, are in a condition of such in-
cessant political movement and intestine discord as
some of them have long been, and all now are, our
Parliament is not disposed to sanction, in its danger

LORD ABINGER'S HEALTH.
THREE O'CLOCK THIS AFTERNOON.
The accounts received this day from, Bury St,
Edmund's, state that his Lordship is ratber better,
but is not considered out of danger.

ous excess, the salutary principle of our non-inter-
vention in the affairs of foreign kingdoms. To the

extent to which British interests and connexions

legitimately exist in or with those countries, it is our

duty, and indispensable to our national safety,
as well as honour, to be prepared to inter-
fere for the protection of that connexion and

THE QUEEN'S MAUNDAY.—The distribution of this
Royal Alms took place to day, (Maunday Thursday),
with the usual ceremonies, in Whitehall Chapel, to aged
and distressed men and women.

those interests, if the emergency should unhappily

Sir Robert Peel left town this morning for his sest,
Drayton Manor, Staffordshire, to join Lady Peel and
family, -Oho preceded the Right Honourable Baronet
on Tuesday.
The accounts of the revenue for the present quarter,
will be made up this evening a the Treasury. The re-
turns it is expected will exhibit a satisfactory result.

arise to call for such an intervention. To leave one

ship of the line to look after the " turn-up" of
events on the European and Asiatic shores of the

Mediterranean would be like planting a single

policeman to look after the insubordinate purlieus of
the west and the east ends of this metropolis. 'We
trust that such an experiment, even if already ha-
zarded, will not be persisted in after the notice it has
attracted in the House of Commons.

Madrid journals of the 27th ult. have been received.
An aide-de-camp of RONCALI had brought intelligence
of the surrender of Carthagena. The inhabitants, as
stated in the French telegraphic dispatch, had sur-
rendered at discretion, and trusted entirely to the cle-
mency of the QUEEN. A report prevailed at Madrid
that a general amnesty would speedily be published,
excluding only. ESPARTERO, DON CARLOS, OLOZAGA,
the Bishop of LEON, and CABRERA.
The Three per Cents. were done at 363 for cash,
and 37} at 60 days ; and the Five per Cents. at 23i
for cash, and 24 at 60 days.

The Journal des Debats of Tuesday has an article
on the motion before the Chamber of Deputies for the
conversion of the Five per Cent. Stock, and de-
nounces the scheme as an attempt to rob the public.
This may be taken as the opinion of the Government,
who have also announced that they will oppose to the
last the proposition of M. GARNIER PAGES. Thus,
while on this side of the Channel the Government has
reduced the interest of an amount of stock equal to the
whole debt of France, on the other the KING, the
Cabinet, and the fundholder, say no reduction can
take place, and the people must, therefore, continue
to pay an interest of five per cent., though the rate of
interest in the market may not exceed two-and-a-
half per cent. The Government paper thus
reasons on the subject :« The nature of the
French Five per Cent. debt is different from that of
other nations, and the cruel phases which our Fives
have undergone at a period of spoliation forbid
. .

upplying to France what Is lawful and uncontested
in England and in some of the continental States. It
is besides incompatible with the policy of care and
consideration which the Government of 1830 has
adopted, which has produced its strength, and to
which it ought to remain imperturbably faithful. Not
only would reimbursement be contrary to justice and
opportunity, but it is useless in face of the only object
which its supporters can with any appearance of reason
aim at attaining, namely, the general lowering of in-
terest in business transactions. The measure is contrary
to a policy of conciliation, because the people will never
be made to believe that a title which is regularly
booted at 125 is only worth 100—it will be taken for
a robbery. When the first attempt was made in
1840, the partisans themselves of reimbursement
made use of such terms that it would be sufficient to
cite them at present, after the rise experienced by the
Fives, to demonstrate that they ought not to be
touched. When the budget of 1841 was presented,
the Minister of Finance, in formally proposing the
reimbursement, offered the holders 4} in place of 5 ;
and this is precisely what M. GAENTER PAGES requires
at present. He assigned as a reason for this addition of a
half per cent. that the stock was quoted at 112. It was
to bonify the interest on what the presesent quota-
tion possesses above the nominal value (that is 100 f.)
But this fixation has acquired in a certain degree the
force of a matter decided, and we admit it as a con-
cession due to the epoch, &c. Those are the words
of M. Passy, in a written speech, assuredly well de-
liberated on, which he pronounced Jan. 16, 1840, as
the expose des motifs of the budget of the following
year. Let the consequence be drawn from this. If
it was proper to leave a half per cent. above four to
the holders, for the motive that the Fives were truly
and regularly quoted at 112, ought not another half
per cent. to be left—or nothing taken away —from the
moment that the permanent
rit - quotation is about 125
At this c otation' of ?
125) the. holcie tb
.