The Sun.
London, England, 1826-03-03 00:00:00

'I'IIE LONDON 0 U R,N A LS.
-0801100.--
DAILY

Extractsfrom the Morning Papers, March 311826.

NUMMI rims. j
The advance made by the Bank of England
Air the relief of the commercial interests bids fair
to be productive of the most beneficial results.
The interruption to manufacturing industry which
the general failure of paper credit must of ne-
cessity produce will be gradually removed as the
benefits of this measure come into full operation.
The unwearied endeavours of his Majesty's Mi-
nisters to restore public confidence will, we trust,
be soon visible in the money market. All the
evils which have arisen (torn the excessive issue
of paper by Country Banks may be expected to
diminish, and the State will not, hereafter stand
upon that precarious footing upon which it has
been .so long suffered- to remain. That the
pressure of mercantile distress will be gradually
lightened by the aid which the Bank has
afforded there can be little doubt. This dis-
tress in the far greater part does not arise
from the want of property, but, from the diffi-
culty of realizing it in time to meet engagements
which must be fulfilled, and which cannot be met
but at a. loss that would be ruinous. The quantity
of goods locked up in warehouses is immense,
and to procure a loan of money upon the security
of these goods was all that, was required. This,.
to the extent of three millions, will now be effect-
ed by the facility thus afforded on the part of the.
Bunk Directors ; a capitjil to this amount will be
immediately thrown into the channel of circula-
tion, and the advantages arising from it cannot
fail to be extensively felt. The Times has
endeavoured to impress the public with an
opinioO, that the temporary assistance given by
the Bank to the merchants is intended for
no other -purpose, and will have no other
effect than to enable them to. withhold from the
market the goods upon' which the loons 'are made
until the return of high prices„ The means, says
this Jeurnal, which the Governors of the Bank
have adopted are as follows :---" Loans are to
be advanced upon' warehoused and hooded
goods of every kind, that their owners may not
be obliged to-bring them to market immediately,
but may retain theni in store, or deal them out in
small portioio,'till the time of high prices shalt
return. But we can tell them, and we make the.
prediction with the utmost confidence, that the•
time of high prices never return, except
baseless and extravagant currency of some kind
of paper or other be' again 'thrown into the mar,
ket, out of which those high prices shall be made
up." The insinuations contained yin this' paragraph
are as base as they are.mhichievOus. It is well
known, that owing to the consternation spread by
the late failures, money could -not be procured
even on the most unceptionable securities, and
that merchants of undoubted wealth and of unim-
peached credit were reduced to the very verge
of failure by Jim indiscriminate want of confi-
dence which everywhere prevailed. The most
valuable cnnsignments from abroad were of no
avail in the
,way of deposit, and .numbers were
thrown wholly upon their own resources to pro,

vide ,for the ticceptances they had given on ad,
Vance. upon those consignments. One great
ti effect of the liberal accommodation granted by
'Ai Hardt will be, not—as the 'Times would in-
sinuate-74u enable the flftrehants to hold their
goody till they, can obtain a monopMy rite, but
to prevent their being constrahtett by dire neces•
sity to pert with them at a. r,uittnus swerltiert. At
present the market wilt not atlunit of their effect-
itsg cites without, r4uch a sacrifice. It is flit* ca.
'roily which his Majesty's Ministers have been
enxious to averts and. w.t: trust they Will lorie
succeeded in avert)ng it.

ennONlCiai..l
,The Jodie- ial proeeedings in the Island of
Jarman, in 18T) and 1524, were brought before
.the House last night by Mr. Denman. As there
could be, but ono opinion with respect to them,
though the original motion was not carried, yet
the amended motion convoyed to the people of
Jamaica a very marked reproof. We observe that
Kr. Moue, pynking of free labour in the West
iedies,sayq, tlomt tfiv experiment has not been sac-
tuossfol. It is out likely that it should in countries
abounding with fet tile land, and where, by very,
little labour, an individual may subsist himself.
Free labour can only be foun d where the population
itt tiense, and tin soil is all peel, pied. No man will
voluntarily labour for another, where has is ft eed
front all utteu4iness respecting subsistence. But
evil of our West 1 nd
lan Colonial system, that
to carry on tr particular species of cultivation,
which could be carried on to more advantage in
countries in which free labour could ho easier
obtaioed, recourse must be had to compulsory
labour, in order that human beiugs, who would
be in too happy a state to be induced to
ityskAhenmselves like the labourers of thickly-
p6onled countries, cony be prevented front en.
joying <the advantages of their situation. A
.ain'tfy can only be made valuable in the
West Indies at OW OXlWitlea of injtistie. It
is labour alone that gives value to land, and
whore !amid is abundant, and each matt can have
a share, there can be no estates, in time Europeen
sense of the word. This argument is fairly stated
by the Triuided Planters ; they say there Is such
abundance of fertile I,,nd in the Island, that
millions of people could live with ease in it by
little labour, and therefore no human beings
would be such fools us to work for us unless coot.
pelted. Equality seems the condition of all
pouniries in which theme is abundance of unoc-
cupied lend ; and inequality can only be pro-
duced by a violation of the principles of justice,

iVerfltMit4lo
In the Ifouse of Commoos last night, Mr. Se.
erefary Peel gIIVE, thfit in pursuance of the
system of amelioration which be was the first to
introduce Iwo years ago in the administration of
Jrunice,,he tehatlid Ill'OpOSO a fresh Bill to regu-
late isttoi her tic pa rtmen t of that atiministrittion.
141*d 3. Russell then obtained leave to bring in.
BM to prevent the practices of bribery and cor-
ruption alt 0(011011S. The remedy which he pro.