The Sun.
London, England, 1844-06-24 00:00:00

The Bishop of LONDON may blush with envy at
this towering flight of pharisaical mancnuvreing. And
yet this Bill is still before the House of Commons I

Madrid journals of the 16th inst. have been re-
ceived, but they bring no news.
The Three per Cents. were done at 27,i for cash,
271 for the 30th inst., and the Five per Cents. at 20
for the 21st inst.

The discussion on the proposed railway lines through-
out France still occupy the Chamber of Deputies,
but do not promise a very satisfactory result. There
is evidently a great difference of opinion between the
Government and the Members as to the share the
State should take in these great undertakings. The
Government plan is, that the State should be only at
the expense of forming the line, leaving the laying of
the rails, building carriages, &c., to companies ; while
a.considerable number of the Deputies are of opinion
that the whole work should be completed by the State.
On Saturday a division took place on this question
in reference to the Paris and Lyons line. On the
order of the day being read for a grant simply to
construct the road, M. GAUTIER DE ROMILLY moved,
as an amendment, that a sum, not exceeding
62,000,000 francs, be placed at the disposal of the
Government, to enable it to construct the road, and
also lay down the rails along the entire line. The
amendment was carried by a majority of 1, the
numbers for the amendment being 138, and against
137. After these discussions have been brought to a
close, another subject of a more interesting character
will be brought before the Chamber—namely, the
present state of the finances. The report on
the Budget, drawn up by M. BIGNON, has
just been printed and distributed among the
Deputies, and it is not certainly of a very cheer-
ing description. The expenses for the year are
estimated at 1,276,106,791 f. (51,000,0001.) ; the de-
ficits from 1840 to 1844 amount to 178,562,000 f.
(7,100,0001.) ; and the floating debt to 300,000,000 f.
(12,000,0001.) The reductions proposed do not ex-
ceed 3,790,766 f. The Committee proposed no reduc•
tion in the army with the exception of recommending
the suppression of 2,000 artillery horses. The total
effective stands thus :-344,000 infantry ; 84,416 ca-
valry; and, with the proposed reduction, 11,000 artil-
lery. The steam navy consists of 47 vessels. The
following additional details appear in the Journal des
Debats

" The extraordinary budget, which is considerably in-
creased in the course of this session, is pointed out with clear-
ness and precision in the report of the Committee. The
general credits granted by the Bill of 1841, for the execution
of the different public works, have risen to 496,821,400£
The credits opened by the railroad bills, for the improvement
of the ports, and the fortifications of Havre, are estimated at
534,180,000 f. The total therefore of the deficits, including
the excess of the ordinary budget, amounts to 1,209,563,8471:,
but by deducting credits, which are only eventual, and
reckoning the annuity of thereserve of the sinking fund, and
the last two-thirds of the loan, the floating debt for this year
may be put down at 203,639,842 f.
" The question of the reimbursement of the consolidated
debt in live per Cent. Bentes, which amounts to a capital
of 2,940,309,600 f., represented by 147,040,480 f. of rente, was
the subject of serious examination by the Committee. The
Minister of Finance was asked whether he considered con-
version as possible, and if he thought the proposition might
be brought forward at the opening of the next session. The
Minister, although admitting the necessity of giving a solu-
tion to the question, refused to fix any precise period at
which the Cabinet would take the initiative in this impracti-
cable measure.

" This reserve of the Minister is sufficiently accounted for
by the financial situation of the country. In fact, as the pre-
vious deficits and the sums voted for the ports and railways
may oblige the Government to have recourse to a loan at no
very distant period, an idea of conversion might have a
serious effect on credit.

" The proposition of the Minister of Finance tending to
reduce from four to three per cent. the interest paid by the
Government for the guarantee deposits lodged in the hands
of the State by officers holding responsible situations, was
warmly opposed by a part of the Committee, and supported
as strongly by others. The division of their opinions was so
nicely balanced that the Committee refrained from giving
any opinion, but will lay the arguments pro and con. before
the Chamber.
" The principal reductions proposed by the Committee are
principally economics on the estimates of the different Minis-
tries, and are chiefly connected with the war budget. The
Commission accepts the proposed effective strength of the
army at 344,000 men, and 84,416 horses, as it has been fixed
by the Minister of War. It considers this force as sufficient
to keep up the organisation of the army, and give complete
security to the country. The report speaks in terms of com-
mendation of the initiative taken by Marshal Soult, in pro-
posing a reduction in his budget of 4,000 men, and 1,000
horses, and soliciting him to persevere in the course he has
begun.

The budget of the Minister of Foreign Affairs has been
approved in its most essential points; a reduction of 50,000
francs only being proposed on the chapter for foreign
missions.

" The question of the steam navy also occupied much of the
attention of the Committee. The number of steam-vessels
on the Ist of January 1844, was—one of 540 horse power;
three of 450 ditto; one of 320 ditto; seven of 220 ditto;
twenty-one of 160 ditto ; one of 150 ditto ; two of 120 ditto ;
one of 100 ditto; live of 80 ditto; three of 60 ditto; two of
30 ditto; making together 47 of a strength of 8,210 horses,
but this strength remains to be brought up to that of 15,550
horses, in conformity with the provisions of the different votes
passed on the subject."

The report concludes with a recommendation to the
different Ministers, of care and precision in the pre-

partition of their respective budgets, and requires that
for the future there shall be annexed to each budget

a list of the employes and the amount of salaries

received.

THE BOURSE-SATURDAY, JUNE 22.
First Highest Lowest Last
. . Prce.
French Five per C'...nts l22Price 10 .. 122 Price. 15 .. 122 Price 05 .. 122 i 15
Three per Cents.— 62 GO .. 82 GO .. 82 55 .. 82 55
Bank of France .... • 3070 .. 3070 .• 3060 —3060
Laftitte Bank, I,ooof. Sharesll3s ..1135 ..1135 . • 1135
5,000 f. Sharesso92 50 ..5092 50 ..5092 50 —5092 50
Belgian Bank .......... 660 .. G6O .. 660 .. 660
Belgian Five 5,1831..... •• • • 1031 • . 104 .. 103; 104
1840 • ..... •• 1041 • • 104 k 104/ .. 104;
1842 .. .. •• • • thq .. 108 f • • Jon •• 108;
Threes 7B GO 78 GO 78 60 .. 78 60
Dutch Two-and-a-Hu1f..... 62 .. 62 .. 62 t 62

11\ %,

drawing from the markets of Europe alI free-labour sugar. Of
course, they must thereby diminish the supply, and increase
the price of the rest, and give consequently a. direct, im-
mediate, and considerable encouragement to the growth of
sugar by the labour of slaves.— (Cheers.)"
'lo show how perversely this device of Ministers is
persisted in, against the most reasonable and logical
objections founded on the analogy of the social condi-
tion of certain foreign possessions, not included with-
in its scope, we may mention that Sir J. HANAIER—
" Wished to know, why Porto Rico, where much free-labour
sugar was produced, was not included in the number of those
places whence such produce would be admitted into the Bri
tish market ?
" Mr. W. E. Gladstone said it was quite true that free-
labour sugar was produced in Porto Rico ; but slave labour
was also employed in the production of sugar in that coiantry,
and it would be impracticable to make any distinction in fa-
vour of its produce."
In what respect more impracticable than in the
strictly parallel instance of American sugar from the
United States ? And if sugar may 'be imported from
the partly slave, partly free-labour cultivated planta-
tions of the States of the Union, under certificates—

why not, also, from the plantations, similarly culti-
vated, of Porto Rico under the like guarantees, such
as they are ? But the plan is a puerility altogether;
an attempt to compromise between the just rights of
the British consumer, the fair demand of the British
West Indian grower for a reduced duty of 205., and
the anxiety of the Minister to raise a certain addi-
tional amount of revenue, in the shortest possible
time, at any sacrifice of principle which he can manage
to clothe with the flimsy pretext of rigorously up-
holding the great principle to which we are pledged
of abolishing by all legitimate means the continuance
of slavery. But, "facilis descensus Averni." From
inconsistency to inconsistency—from hypocrisy to
hypocrisy—from pretext to pretext—where a truth
is to be concealed or a wrong to be effected, the pro-
gression is at railroad pace. Mr. PATRICK STBWART
completed the degradation of this pitiful measure by
two home pushes. The one regarded the most invi-
dious exception made by Government in favour of
Java, where, he asserted, the labourers were abso-
lutely " adscripti glebce"—transferred with the soil
and forced to till it. Each man, we should say, has
a sort of reserved equity of redemption—indeed ; since
he can separate himself from this bondage on payment
of a certain money premium to the master ; but not
otherwise.

"That this was virtually slavery might be imagined from
the fact that when re-established in 1836, a rebellion and
consequent massacre of the labourers occurred. The slavery
might be modified and mitigated, but slavery it was."
When we remember the scandalous conduct of the
Netherlands Government about this very island of
Java, and our trade with it, as evidenced in that
shameless violation of the treaty of 1824, we must
again marvel at the title Java can have established to
an admission into our markets with her slave-raised-
sugars. But the other downward thrust given by
Mr. STEWART we subjoin in this epigrammatic state-
ment :

" He could state further, as showing the utter futility of
the principle of legislation now proposed, that he knew of a
cargo of slave-grown Brazilian sugar recently—and since these
sugar debates—shipped from Liverpool for Bombay, in order
there to displace so much East India sugar which might be
exported to this country.—(Loud cries of Hear, hear,' and
a few expressions of doubt.) He knew he should be met
with intimations of doubt, so he had taken care to be pro-
vided with particulars.—(Hear, hear.) The cargo was im-
ported to Liverpool in the Mary Howell, from Pernambuco,
and was shipped for Bombay in the Australia—(Hear, hear)
—that it might be consumed in the East ladies in place of so
much free-labour sugar which would be imported into this
country.—(Loud cries of 'Hear, hear.')"
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