The Sun.
London, England, 1850-08-21 00:00:00

inntna ;-7 ATM

LONDON, WEDNESDAY, AUGUST 21, 1850►

Among thebusiness standing over from the past ses-
sion; which must be brought before Parliament on its
re-assembling, are sundry legal reforms, which will,
we trust, receive the mature and, attentive conside-
ration which their vast importance, and their opera-
tion on the, welfare and prosperity of the community,
so eminently deserve. A separation of the political
and judicial functions of the office of Lord Chan-
cellor has been promised; by the First Lord of the
Treasury. The nature of the contemplated altera-
tions were to have been fully set forth previous to
the prorogation, but the extraordinary pressure of
business during, the last month, which rendered
essential the abandonment of many valuable mea-
sures, prevethed it. There was also a degree
of excitement occasioned by the discussion on the
foreign policy, on the admission of Baron ROTHSCHILD
to take his seat, and other topics of deep and absorb-
ing interest, which at that time prevented Ministers
from arriving at the calm and well-considered judg-
ment so important on every great question of national
improvement, but absolutely essential on matters re-
lating to the practice or_ administration of the law.
Although the evils were obvious, and the nature of
the remedies apparently 'simple, difficulties arose that
should be duly appreciated and adequately provided for.
Any mistake or error in the first instance might.
be produCtive of the most' injurious consequences, for
it must be borne in mind' that the proper arrange-
ment and disposition of the various duties of the Lord
High Chaneellor will be the foundation of the Chan-
cery reforms that are so eagerly desired, the earliest
process in the herculean labour of cleansing that
Aegean stable, and rendering it indeed worthy the
name of an equitable tribunal—a blessing in place of a
curse to the community. We cannot therefore
regret the delay that has taken place, but
we trust that Ministers will take every ad-
vantage of the leisure time thereby afforded, and
that after due reflection and deliberation, and where-
ever necessary, the institution of proper inquiries
from.persons competent to afford accurate and trust-
worthy information, Ministers may be prepared
with a suitable and well-considered: measure at the
very commencement of the approaching session.
We have also recently shown that the laws relat-
ing to County Courts, the code for the recovery of
small debts, of all pecuniary demands not exceeding
501. sterling in England and Wales, should be accu-
rately, revised, with a view to their amendment . This
too, will be a fitting task for the long vacation,
one which, if judiciously performed, will reflect the
greatest credit on the Government, but which, if Neg-
lected, will entail proportionate censure on those
whose duty it is to undertake the labour. With. "a
ROMILLY " as first law officer of the Crown, we
have the utmost confidence that this moat
important duty will be properly discharged.
The nation is reselv-d that chap and expedittous
means shall be afforded fur the recovery of those de-
mands that must constantly arise in a com-
mercial country, the due arrangement whereof
are so essential to the maintenance of credit. ,
But, 'although " cheap law" is required, " bad

law" is especially to be deprecated, and care
must be taken that we are not involved in evils even
greater than those we are anxious to avoid—lest, in
flying Scylla, we should fall into Charybdis.

But there is another matter even still more im-
portant than Chancery reform or County Courts
reform, inasmuch as life and liberty is more valuable
than property. We require not: so much an altera-
tion as a full and clear explanation of the criminal
law, that the disjecta membra should be properly
digested, that any member of society, any
British subject, may be enabled to know the
nature of the enactments which he is commanded un-
der the heaviest penalties to obey—to understand the
crimes of omission and commission, what he is bound
to do and what he must avoid, without devoting his
entire time to their study. Many considerable im-
provements have been effected of late years, since
the lamented statesman who was, by the visitation of
PROVIDENCE recently hurried to his last account, in
the full vigour of his intellect and mental and bodily
powers, undertook the consolidation of the criminal
statutes ; but much remains to be done that should
not be neglected or disregarded.
Such a task is of no ordinary magnitude, but,
fortunately, we have all the materials for its perform-
ance. Much valuable time and labour, and large
sums of money, have already been expended in bring-
ing the matter to its present condition. Many emi-
nent men have for many years been engaged in that
important duty, and the result has been that, after
an outlay amounting to nearly 100,000/. sterling,
the Criminal Law Commissioners have produced a
complete digest of " crimes and punishments," and of
the whole " law of procedure in criminal cases," that
may challenge comparison with any code of ancient
or modern times.

The nature of the subject is such, however, that it
can scarcely be disposed of as other Bills. A Parlia-
mentary Committee could scarcely go through a Bill
containing nearly two thousand clauties. It should
be prepared ready to their hands; so that little, if any,
additional labour would be required. This great de-
sideratum. could be attained at a trifling expense,
not exceeding 2,0001. sterling, by the reconstruction
of the Criminal Law Commission, which has,
unfortunately, been suffered to expire. But
Sir CHARLES WooD and his colleagues have
suddenly been seized with a fit of economy.
The 100,0001. already expended may be altogether
thrown away, the criminal law may remain unre-
formed in order to save 2,0001, at the very time that
5,0001. has been voted for stables to Marlborough
House, in order, we suppose, to keep the (hobby)
horses of the Prince of WALES for the next nine
years, and 12,0001. per annum i 3 granted to the Duke
of CASIBRIDGE for his life. Lord BROUGHAM, with
that zeal and enthusiasm for which he has ever been
remarkable in all matters relating.to the amelioration
of the law, offered himself to defray the entire ex-
ruses of the Commission for the short time it may
be required by the country ; but this liberal proposi-
tion was coldly rejected by Sir CHARLES WOOD, who
would neither do the matter himself or permit any
other person to do it. Verily there is a " penny wise-
and-pound-foolish" economy that should be especially
deprecated and eschewed by the British nation.

The speech of the Chancellor of the Exchequer, in
moving for the appointment of a " SeleCt Committee
to inquire into the causes of the recent commercial
distress, and how far it had been affected by the laws
for regulating the issue of, bank-notes 'payable on de-
mand," will not speedily be forgotten by any person
interested, or in any degree acquainted, with the
vitally-important topic to which it related. It bad
been generally known that the Government had re-
solved to cast off the responsibility of dealing with the
question, and that the labour and honour were alike
to be transferred to a Select Committee. But up to
the 30:h November, 1847, it had not been evenima-
gined that there would be any attempt to bolster up
the impolitic law that had been almost uni-
versally condemned by all persons competent to
form a just judgment on the question. The
virtual suspension of the law, by the Ministerial
letter of the 231 October, preyed that both Lord
Joust RUSSELL and Sir CHARLES WOOD had been
convinced—reluctantlyconvinced, we admit—that the
Act' had materially., aggravated the intensity of the
crisis. This admission was the more valuable as pro-
ceeding from unwilling witnesses, from judges whose
sympathies and feelings were altogether in favour of
the Act of 1844. But the extraordinary results of
the change confirmed the accuracy of their ,impres-
sions, and established beyond the possibility of doubt
the ruinous operation. of that most mischievous
enactment. Speculation was rife as to the extent of
the reform that would be recommended; but no per-
son, not in the confidence of Government, for a mo- '
ment supposed that the law would remain intact,
that the restrictions thereby imposed on the circu-
lating medium of the country would be continued in
full force.

These opinions, however, proved to be erroneous.
The sanguine hopes that had been entertained were
bitterly disappointed. The whole arguments of Sir
CUABLEB WooD were directed to sustain the mea-
sure; it was rather the speech of an Old Bailey
advocate, trying
.to bamboozle and throw' dust in the
eyes of a jury to obtain. by any means, however dis-
creditable, the acquittal of a prisoner already con-
victed by the voice of public opinion, and the
unanswerable evidence brought forward on the trial,
than that of a statesman discussing a question of the
deepest interest, a problem in 'the solution of which'
the welfare and prosperity of the nation were de-
pendent. The specious fallacies of the bullionists
were gravely put forward ; the distress and monetary
convulsions were ascribed to every cause bat the
right one.

wiser system of currency, the expenditure of such a
sum would not have exhausted the national resources,
or produced such wide-spread ruin and destitution,
and so many calamitous results ; and yet the country
bad then sustained a sanguinary and expensive war
for many successive years. A quantity of blood and
treasure had been wasted during each of these years,
far exceeding, on the average, the largest sum which
had been estimated to have been applied in the sacred
duty of supporting the famishing inhabitants of the
famine-stricken districts. In the former case the
wealth was expended in the destruction of human
life, in the latter in " feeding the hungry and cloth-
ing the naked ;" and yet during the last three years
of the war sums amounting to about 160,000,0001.
were raised by taxes or loans in each and every year,
and there was full employment for every man able
and willing to work_at a fair rate of remuneration;
while during the later period there was misery and
destitution on every side, those who might have been
the creators and producers of national wealth being
unprofitable consumers, a heavy burden on the re-
sources of the country. And what did we gain to
compensate for the change, as an equivalent for all
this fearful misery and suffering ? Let Sir CHARLES
WOOD answer—" the integrity of the standard was
preserved." Gold was employed in the daily transac-
tions of life in place of inconvertiblepaper, of " worth-
less rags," as the bullionists delight to call them. To
oulhumble judgment it seems that the nation pays
"very dear for its whistle."
Sir CHARLES WOOD was not, however, satisfied
with merely absolving the Bank Charter Act from all
blame. He could not resume his seat without
ascribing to it an imaginary virtue. It was to its
beneficial operation that the nation was indebted for
passing, although not altogether scatheless, through
the ordeal to which it was subjected. It was through
its means that the much-deprecated" over-trading,"
" railway expenditure," and " over-issues " by the
Bank were checked. Nay, the very necessity for its
suspension afforded the best evidence of its efficacy !!!
The pressure on the commercial resources that
brought so many princely houses to ruin and bank-
ruptcy was a most desirable result of this judicious
law, and it was not until that salutary pressure was
exaggerated into a panic that it became advisable to
seek a remedy in the violation of its provisions !
S )me scapegoat was, however, necessary to bear
the indignation that had been so unjustly lavished on
the Act and those through whose influence it had
been enacted. For that purpose the board of direc-
tors of the Bank of England were freely offered up.
He more than hinted that the management of the
Bank was not conducted " soundly and wisely," that
" recent events had somewhat shaken the confidence
of the public in the direction," and intimated that
" the management of the Bank was a subject well
worthy of consideration, and might form a subject of
inquiry before the Committee." Thus clearly show-
ing that he at least conceived that body still charged
with the regulation of the national currency, and
bound to give " timely warning " of the " breakers
ahead."

If these charges were well founded, what became
of the loud vaunts respecting the " self-acting regu-
lator " that would prevent the injurious consequences
of any imprudence on the part of the directors? If time
or space permitted, -we might refer to the speeches of
a Mr. CHARLES WOOD, who, during the debates of
1844, declared, that the measure would " take away
all discretion from the directors as to the issues," and
that, " therefore, it was unnecessary to go further into
the past conduct of the Bank."

These opinions do not appear to be very consistent
with the subsequent accusation against the directors
for not exercising a discretion, which was "alto-
gether taken away " by the Bill. He was, however,
willing to sacrifice his own consistency and reputa-
tion to preserve his darling measure from any degree
of blame, and to immolate the Bank, even to commit
a species of moral' suicide, for that purpose. Sir
ROBERT PEEL exhibited greater candour when he ad-
mitted, in the course of the debate, that the Act had
failed in "one of the objects, contemplated," viz.,
" the prevention of the convulsions that had thereto-
fore occurred, in consequence of the neglect by the
Bank to take early precautions against the issue of its
treasure." It was, therefore, intended to relieve the
directors from the duty, for the non-performannce
whereof Sir CHARLES WOOD subsequently censured
them.

THE FRENCH REPUBLIC.

We have received the Paris journals of yesterday.
The PRESIDENT of the Republic arrived at Besan-
con on Sunday. His reception there was very bril-
liant. In the department of Jura the reception of
the PRESIDENT was cold, at Lons-le-Saulnier the
only cry heard was " Viva la Rl►publique !"
The differences between the Bonapartists and the
Legitimatists may now be considered as irrecon-
cilable. At the meeting of the Committee of Pro-
rogation, on Wednesday, several of the Legiti-
matist members spoke in disparaging terms
of the address of the PRESIDENT at Lyons, and ac-
cused M. BARocaß•of having been wanting in re-
spect to the Assembly in not communicating to the
Committee thetelegraphic dispatches before publishing
them in the journals. M. BAROCHE in reply taunted
his opponents with the illegality of their conduct in
going to Wiesbaden to join a manifestation which
might call for " a resolution " on the part of the PRE-
SIDENT of the Republic. M. BARK demanded to
know what that resolution might be, but M. BAROCHE
refused to reply to the question. The Legitimists
are also divided among themselves—one party, at the
head of which is General ST. PRIEST and M. DE LA
RO CLIEJAQUELIN, is for immediate action ; the other,
which follows the leading of M BERRYER, is for pa-
tience and awaiting the course of, events.
General CAVAIGNAC has arrived in Paris from a long
tour in the southern departments.
M. DE BALZAC, the celebrated novel writer, died
on Saturday.
PARIS BOURSE, AUGUST 20.—Latest Prices.—Five
per Cents., 97f. 20c. ; Three per Cents., 58f. 55c.;
Bank Actions, 2;345f.

He first endeavoured to show that there Was no
deficiency of circulation—no inadequacy of notes in
the hands of the Public, forgetting, or at least keeping
studiously out of sight, the well-known fact that a
large proportion of these notes—estimated by Mr. S.
GURNEY at no less than from 4,000,0001. to 5,000,000/.
sterling—had been hoarded by bankers and commer-
cial men, in order to beprepared for the time when
the Bank could give no further accommodation,
which, from the provisions of; the Act, was supposed
to be rapidly approaching ; and that they were thus
, withdrawn from circulation, and were of .no snore
, pratical utility than the 8,000,0001. of gold and silver Prussian 1 .
GERMANY.
The Minister for Foreign Affairs has ad-
coin and bullion that were at the same time locked
dressed the
following dispatch to the Prussian Am-
up in the Bank cellars ; that a considerable portion bassador at. Vienna :
of the amount of ' notes was, as stated by Mr. "You will have learnt from the public newspapers the
text of a circular bearing date the lath ult., which the
HORsELY Emma in his evidence, 61 an issue rather
for the purpose of precaution and reserve than for Austrian Government has addressed to sundry German Courts, and in which an intention is expressed to con-
active circulation in the country," being "issued yoke the secret (engeren) council of the Federal Diet.
merely for the maintenance of credit, turd not re- Those Governments which hitherto have taken part in
the conferences at Frankfort are by this dispatchquired for circulation." in-
vited to furnish their plenipotentiaries with proper in-
We do not think' so humbly of the, intellect of structions for the purpose of deciding on a certain
the Rights Hon. ;Gentleman as to suppose that he Proposition
ec
.which the Austrian chairman of these
e
nd
could have been so totally mistaken on this point. conferences
nnet is
seivd
preparedeany
officialtosub informationmitt them.
We
of the ex-
The question, however, is one between hid ability as istence send the contents of this dispatch, but still we
a financialist and his honesty as a statesman. He was have no reason to doubt its authenticity. We are t
utterly incompetent to discharge the duties of the
andfor the step e
ri which hi
the m
chth e
oAustrian
haser taken,
important no ,
u
important situation into which he was pitchforked doubt but that is
she goal whichre
the Austrian Government
as " one of the family," or he was guilty of a per.. aims at, via., the reconstitution. of the legally-dissolved
version of truth, for the purpose of sustaining a Federal Diet, will not only fail to lead
down toa
upondefinitive
favourite theory. In which of these categories the saofflauitrison.o;afGethune
acnryisisbnwthtihcahtniot
now weighs
aeito tend to increase
excellent Minister of Finance is to be placed, on the differences and dissensions which actually exist; for
which horn of the dilemma he is to be tossed; we leave Prussia and many other German Governments, as they
to the selection of his admirers, if any such there be are forced to oppose any attempt at a one-sided and un-
in the British dominions. authorised reconstitution of the late Diet, will also be
,
compelled to declare that the resolutions of such a body
He then endeavoured to show the actual shah be null and void, for themselves and for all mem-
causes of the panic—a deficiency of circu- berti of the Confederation which have declined taking all
lation—not being included in the list. These part in the Frankfort conferences. . .
the question
were chiefly—crede Sir( "I do not, however, intend to anticipate the question
nastras Woop—the of the reform of a general and central. federal organ; the • •
large expenditure on ' corn! railway 'peculation, object of this letter is simply to direct your attention to
over-production, over-trading, loans on call, lec. an inference of great practical import which possibly
Other topics that. have been repeated
,usque ad (minght be drawnflrom theilntenTdnedreinsitsalrleastisonnn otfnaesxecreett
nauseam were also put forward. We have over and that thee)assembly oefotuhneeplenipotentiaries of Austria and
1 over again proved that the exportation of bullion for her friends will think itself justified in monopolizing the
coin was the only one of these matters that could Protection of the federal property, and that consequently
be true that Beer will endeavour to dispose of the fortresses, the
have caused a pressure. It might the exchequer, and the archives of the Confede-
-30,000,000/. sterling had been sent cut of the country ration. Such a measure, as it would want our consent,
in order to provide food for the people, of which by and as it refers to objects of which we most undeniably
. are co-proprietors, would call fur our active opposition far the larger portion, about 21,000,0001. !sterling which would likewise be brought to bear upon any
was paid for in goods, and about 9,000,000/. in gold. attempt in that direction. The melancholy con-
This, be it remembered, was the estimate of the sequences which necessarily must result 'from views of
Governor and Deputy-Governor of the Bank of ocorfiic tin g a nature, if left to their own practical de
England, who declared that about 7 -
i
so cot
cannot fail to have presented themselves to
,500,000/. was the consideration of the Austrian Government. His
withdrawn from the coffers of the Bank, and, probably, Majesty the King's Government would consider them as
not less than 1,500,0001. from other sources. And
a natio, al misfortune, and would sincerely regret them
as
the first links in a chain of fatal events. Imbued, as
this was the extent of the drain that produced the w
e te4-e, with these sentiments, we 'have asked ourselves
panic, that led to the total cessation of credit and the what means there is to obviate these threatening dis-
depreciation of every description o
f property to the senslons without detriment to the intertsts of either
extent of from 20 to 50 per cent. ,
rat* and having subjected the question to a con-
In the early part of the present century, under a eciedtious examination, we propose that the Austrian
.
1
,i-1...,A.... V/114.4) •-••••'......-6. t , -I.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE

LONDON STOCK-EXCHANGE, Aug. 20.
Northern of France, 1454—Orleans and Bordeaux, 234—
Paris and Rouen, 231113 ex div.—Rouen and Havre, 9%.

SPAIN.
Madrid journals of the 15th have arrived.
Their contents are unimportant.
The Bolsa was closed on the 15th.

!(.1

Government shall join us in considering the administra-
tion of the property of the Confederation as a subject
which is essentially separate from the political
formation of the Confederation, and to confide the
same to the Provisional Federal Commission, which still
exists on the ground of the 30th of April last. Until
the principal question shall have been decided, that
commission ought to confine its agency to the indepen-
dent administration of the federal property. In the case
of a difference of opinions, which, however, is of rare
occurrence in purely administrative matters, an arbitra-
tion shall take place, as provided by the convention of
the 30th of September of last year.
" His Majesty's Government believes that this pro-
posal is another proof of its sincere desire to spare Ger-
many the melancholy spectacle of a breach between the
two Powers on whose good understanding the safety and
peace of Europe may be said to depend.
"g Berlin, Aug. 5. " VON SCHLEINITZ "

It is said that on the 15th, the Austrian Govern-
ment received a telegraphic dispatch announcing the
acceptance by the Berlin Cabinet of the propositions
of Austria. First, the dispute at issue relative to the
passage of the Baden troops through Mayence is to be
submitted to a Court of arbitration, to consist of three
members—one to be selected by Prussia, the other by
Austria, and as it is believed, the third to be named
by the two in conjunction. The decree of this court
is to be taken as final. Meanwhile those Baden
troops which have not traversed Mayence will await
the judgment. The second question, that of federal
property—that is to say fortresses, fleets, funds, and
archives, is to be administered by an interim commis-
sion, appointed ad hoc, which committee will act un•
der the instruction and superintendence of Prussia in
the name of the Union, and of Austria in that of the
Engeren Council, about to be convoked. The juris-
diction of this commission will, however, be strictly
limited to the administration of the federal property,
and will have no other political attributes.
Letters from Carlshrue of the 17th announce that
the difficulties which were opposed to the march of
the Baden troops into Prussia have been overcome.
The King of HANOVER gave on the 15th a grand
military dinner to HAYNATJ.