The Sun.
London, England, 1850-02-26 00:00:00

THE SUN,

as any exhibition of national ingratitude. It
is the celebration of such a spectacle
that imparts so much tragic sublimity to the great
historic drama of Coriolanus. It is the remorse
consequent on the remembrance of such ingratitude
that is at present concentrating so much popular in-
terest upon ITORATIA, the daughter of our immortal
NELSON. Gratitude of this kind may appear de-
grading in the eyes of the fanatics of arbitration, but
to our mind, so far from being such, we conceive that
its evidence invariably conduces to the moral elevation
of the multitude. It tends, moreover, not only to the
moral elevation of the multitude, but acts
likewise as an incitement to future bravery, an en-
couragement to future self-sacrifice, and an enhance-
ment of future patriotism. Hence it is that we would
gladly witness the betrayal of a sincere and unaf-
fected enthusiasm on the part of the population
towards the two heroic soldiers who have just re-
turned from Hindostan—an enthusiasm as earnest
and cordial as we are certain, in the present instance,
it is deserved.

A startling statement was put forward by Sir
JAMES GRAHAM in the course of his very able speech
on Mr. DISRAELI'S motion—a statement which fully
bears out and confirms the suspicions long entertained
by monetary reformers, that the ruinous Act of 1819,
and the monetary code then established, was the re-
sult of a corrupt and fraudulent compact, by which
certain parties endeavoured to advance their own ex-
clusive interests, at the expense of the community in
general. The Right Honourable Baronet said—" I
have always contended that the most improvi-
dent bargain that could have been made by any
great class was that which the landlords made in
1819, when, is consideration of an exclusive corn-law,
which gave them the sole possession of the home
market up to 803. per quarter, they consented to the
restoration of a depreciated standard of value—a
standard which bad been depreciated for a quarter of
a century. That that was an improvident bargain I
thought then, and I think so now. They are about
to pursue their class interests by asking for the re-
imposition of the corn-laws, in the vain hope cf ad-
vancing the value of their property, at the expense of
and in opposition to the entire community."
This indeed, a remarkable revelation, proceed-
ing from a witness so trustworthy, so unimpeachable
in every respect. It establishes the fact of a solemn
compact being entered into, by which the landowners
of the United Kingdom, the " territorial aristo-
cracy," as they now rejoice in being styled, wilfully
and deliberately sacrificed the interests of the people,
and of the constituencies by whom they were se-
lected as representatives, for their own private
advantage. In opposition to the almost unanimous
feeling of the commercial and manufacturing interests
throughout the entire kingdom;; in opposition to the
opinions of the merchants, bankers, and traders of the
city of London, expressed in the strongest terms
which the forms cf Parliament permitted ; in oppc-
sition to the powerful representation put forward by
the directors of the Bsnk of England, they persisted
in carrying Le fatal measure, having previously not
only stipulated for but insisted on obtaining a law
that gave them a virtual monopoly of the home
market, and enabled thernJo place a heavy tax upon
articles cf primary necessity for their own exclusive
benefit.

Every circumstance confirms the accuracy of the
above statement. They had unquestionably at that
time full power in their hands to legislate as they
thought proper. The pressure from without had but
little effect upon persons, the great majority of whom
were indebted to improper influences fur their return
to Parliament. Bribery and corruption at elections
was a general practice, without which few elections
could be gained. The borough-mongers flourished
in rank luxuriance. Many were the mere delegates
ef private individuals, whose wishes they were bound
to respect, and to whose high behests they were
obliged to yield a prompt and ready obedience.
Many others were, to use a homely term, the "repre-
sentatives of their own pockets ;" they purchased
the "most sweet voices" of the electors at a given
price, and they were inturn quite as ready to sell as to
buy. Political venality was the rule, honesty, integrity,
and patriotism the exception. There were un-
doubtedly men who formed bright exceptions, who
were pure amidst the temptations by which they
were surrounded, who could " touch pitch without
being defiled." But, unfortunately, they constituted
but a small minority. They were outvoted on every
question, and could only record indignant protests
against the misgovernment and oppression
that was openly carried on. Every re-
presentative, too, was, at that period,
necessarily connected with land.; no matter how high
his qualifications, sterling his honesty and brilliant
and impressive his eloquence, he could not enter the
House of Commons unless possessed of real estate to
the value of 000/. per annum, if returned for a
county, or 3001. for a city or borough. Their
objects and wishes were, therefore, for their
own aggrandisement by the enhancement
of the value of land. " Quod volumus facile
credimus ;" they were easily induced to be-
lieve that a corn-law and protective system were
something not so very improper or unreasonable in
themselves ; and, strange as it may appear, some
persons who might possibly have scrupled to pick a
pocket, or swindle a helpless orphan out of his pro-
perty, reconciled their consciences to vote for re-
stricted trade: and the establishment of a grinding
and oppressive monopoly
The change of currency, and what is termed " the
restoration of cash payments," immediately followed,
and was the price the high-minded representatives
of the British people paid for this infamous
Tney fondly hoped that notwithstanding the
general depreciation of every species of commodity—
or rather the great "appreciation" in the value of the
circulating medium that must necessarily follow—
the prices of agricultural produce would still be
maintained by class legislation. The Act of 1819
increased the burden of taxation and the pressure
of all fixed payments. It materially added to the
claims of the moneylenders, when requiring satisfac-
tion fur their bonds ; it nearly doubled the amount
of rents pay able under old leases, and it
reduced in an inverse ratio the wages of labour,
the profits of business, and the prices of ever descrip-
tion of produce and commodity. The farmers and
landowners found how vain were the sanguine anti-
cipations in which :they had indulged. Never was
agricultural distress greater ; never were there
louder complaints uttered by the sturdy bucolics than
when protective laws were most stringent, and they
were guarded by prohibitory duties from foreign com-
petition. The fatal effects of a fettered cur-
rency and a circulating medium, inadequate
to the wants and exigencies of the country, were
painfully susceptible on every side, and the chief suf-
ferers were those who had entered into a corrupt,
impro-
vident
and
as Sir JAMES GRAELIM truly called it, a ,‘m
bargain." Let the farmers then, at length,
awaken to a just sense of their position, and a know-
ledge of their real interests—let them call for the
total abolition of our monetary code and the restora-
tion, so far as it may be practicable, of the standard
of value under which the greater portion of the
public debt was contracted. By these means, and
by these only, they will obtain a return of national
Evanescentltlparagtlle.vaernly
lasting, not like the fleetings
prosperity that may be regardedand
as
comparatively
cf sunshine which they have witnessed on rare occa-
sions, " like angels visits," within the last thirty
years. And let the people arouse themselves. Let
the voice of public opinion be heard temperately,
but firmly, insisting on the " rights of industry." Le t
it be borne in mind that the corn-laws and
monetary code were brought forward simultaneously,
that they were parts of the same conception, and
should be consigned to the same dishonoured and ill-
omened grave. Let them recognise the great fact
that " free trade and fettered currency" are wholly
incompatible, and the+, in the words of Mr. S. A.
GOLDSMID, one of the most consistent Free-traders
that ever struggled for the abolition of monopoly,
" So long as the price of gold is fixed, and our in-
ternal. currency is dependent on its possession, free
trade in other respects is a farce, a mockery." 11

Captain Denham, R.N., F.R.S., has returned from
his official visit to the out Forts, and had the honour
yesterday of laying his report of the supervision and
equipment Of steamers befire the Right Hon. the
President of the Board of Trade.
Dispatches from the Governors of Ceylon, Malta,
and Gibraltar, were received yesterday at the Colc-
nial• office.

LONDON,

THE FRENCH REPUBLIC

We have received such of the Paris journals as were
published yesterday, but Sunday having been the
anniversary of the revolution, was observA ai a holi-
day at most of the newspaper offices.
There was a grand religious ceremony at Notre
Dame in honour of the day, which, however, was
not attended by the PRESIDENT of the Republic, or
by many members of the Assembly. There were
crowds of pleasure-seekers on the Boulevards and in
the Champs ElysC.tes, and a number of persons re-
mained assembled during the day around the column
of the Bastile, which wss crowned with immortelles.
At night the façade of the National Assembly was
illuminated, as were several private houses.
The greatest order prevailed in Paris throughout
the whole day, and the Aloniteur publishes telegra-
phic dispatches which have been received from va-
rious departments, all announcing that the day had
passed off quietly.
General CASTELLANE has arrived at Bordeaux, and
has assumed the command of the Western Military
division. He was met outside the city by the
National Guard and the troops of the line, and was
exceedingly well received by the inhabitants of the
city.
The Mayor of Bellac, who was dismissed by the
Prefet, has been unanimously re-elected by the Mu-
nicipal Council.
M. Durtsr is suffering from an attack of bronchitis,
which will prevent him for some days from officiating
as President of the Assembly.
The Journal des Debats contradicts the statement
published in the Wandererof Vienna, that M.HouNen,
the Austrian Envoy in Paris, having complained to
Prince CALLIMAKI, the Tui kish Minister, of the pre-
sence at his ball of Count TELEKY, the ex-Envoy for
Hungary, the Prince repliel that it was he himself (M.
HUBNER) who ought not to have invited, seeing that
diplomatic relations had not yet been re-established
between Austria and Turkey. The Debair says,—
" We are authorised to declare that no such complaint
was made by M. HUBNER, and that consequently no
such reply could have been given by Prince Cama-
Accounts from Brest of the 21st state that on that
day the marines, infantry of the line, and artillery
forming part of the expedition to La Plata were em-
barked. The military bands played the " Marseil-
laise" and the " Chant du D6part," amidst the chores
of the men. _

Shortly arter the commencement of business at the
Bourse a large cruntity of Government Stack was
cffered f.r sale, and the Five per Cents., which oreaed
at 96r. 30e , anti rose to 961. 40e., fell rapidly at 95f.
40c. Towurds Three o'cluck, however, a rc-:.ction
took place, and they rose to 95'. 70c., at which price
they closed. The Thr ea per Cents. closed at 57f. 50c.;
Orlens Railroad Shares at 780 f.; Rouen, 5"56'. 25c. ;
Havre, 2471. 50c. ; Great Northern, 451 f. 25c.; Avig-
non, 200 f.; Vierzln, 3101.; Basle, 1151.; Bordeaux,
4071. 53c.; Paris and Strasburg, 351 f. 25:.;_ Tours and
Nitrite?, 252 f. 50c. The New Roman Loan closed
at 791 f.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE