The Sun.
London, England, 1826-02-28 00:00:00

3

"I II LONDON JOURNALS.
DAILY

fixtracts from the Morning I've! c,Peb.9.3, 18'26.

rTHE TIM I'S.]

The negociation between the Bank and the
Government on the subject of relief to the com-
mercial interest has led, we understand, to re-
peated discussions. The Governor and Deputy-
Governor had interviews with Ministers on Sa-
turday, on Sunday, and yesterday, all of which
are supposed to relate to it. It is now said that
the course of proceeding is fully arranged, and
that the consent of those Directors who have been
in communication with the Government has been
given to it ; but that the affair will be submitted
to a full Court of Directors, 'summoned for this
day, in'order to obtain their acquiescence in a
step of so much importance, and so new to the
practice of the Bank. The strongest case in fa-
vour of relief, as far as those of the trading inte-
rest generally have been urged on the attention of
Ministers, is said to be that of the manufacturers
of Glasgow, Manchester, and other places, who
have described in such strong terms the effect
which a suspension of -business would have on
the working classes, and which they consider in-
evitable unless relief is afforded, that Ministers
have become alarmed for the consequences, and
have desired the aid to be extended in the first
instance to those quarters. On the part of the
Directors, in addition to those objections which
they uniformly stated to the principle of afford-
ing assistance by the Bank, the further difficulty
has been alleged as applicable to the case of the
Glasgow and Manchester merchants, that the Di-
rectors, however well aware of the state of credit
in London, could have no fVII.OfIS of ascertaining
what individuals in places so distant could safely
be trustetl. All objections, however, on the part
of the Select Committee of Bank Directors, it is
now understood, are surmounted, and, ns we
before stated, that they will this day submit the
plan which tins been arranged to the approba-
tion of the Directors collecti4ly. !Import
says that it is by a commission, sworn to
secrecy, that the applications will be examined,
and that any draughts it may give will be
duly honoured by the Bank under the guaran-
tee of Government. A notice which has been
issued from the Exchequer, making the usual
call of bills outstanding more than nine months,
on the gist of March next, has improved the
market for those securities. Consols still fluc-
tuate with some violence : thev extreme prices
yesterday were 77i and 76!, and the concluding
price 77. In the Foreign Stock Exchange yes-
teiday was settling-day, but transactions in them
having been much limited of late, no event of the
least interest occurred.

[MORNING POST.]
The appronching discussion on the subject of
the Corn Law in the House of Commons will
attract an unusunl degree of attention, as well on
account of a revision of that law having been ex-
pected during the present Session, ns of its inti-
mate Con!lectiou with some of the important
questions on which Parliament has already pro.
nuanced a decision,--That Ministers will now
consent to a revision of that law, involving as it

does interests so mighty and complicated, in-
terests alto assumed (though perhaps erroneously)
to be so conflicting, is we think hardly to be
expected. Nothing like a promise that they
would consent to it during this, the last Ses-
sion of on expiring Parliament, is fairly to be
inferred from the language they have at any time
held upon the subject. But if even an express
promise to that effect had been given, there is in
the present circumstances of the country so much
of depression and alarm, as to render this of all
seasons the most unfit for the discussion of so
great a question of permanent policy. As the
present circumstances could not hove been ex-
pected at the time when something like a 'pro-
Mise of this kind is supposed to hove been made,
they must unquestionably he held to absolve
Ministers from its literal fulfilment. Nor can
the recent decision of Parliament on the subject
of' the Foreign Silk Trade, inclusive as it is
of the general principles which are in future
to govern our commerc4ll relations with
other countries, be fairly urged as a reason 4'4
the Corn Law should at the present inconvenient
moment undergo a revision, which in the circum-
stances of the times might too probably be rash,
intemperate, and unsatisfactory. NO changes
have been introduced into our commercial system
of a nature repugnant to the. spirit, or at variance
with the express provisions , of the existing Corn'
Law. En framing new regulations for any other
branch of commerce, time perpetuity of the Corn
Law has been presumed, and the effect of its
restrictions fully investigated and abundantly
allowed for. We will not now enter into
the general question of the policy or iinpolicy
of restricting the importation of Foreign Corn.
It is 'a difficult question, and one upon which
surely men equally honest and equally patrio-
tic, may entertain opposite opinions. Who.
ever imputes corrupt motives to others, only be-
cente they do not happen to see such a question
in the same light in which it appears to himself,
betakes himself to the lust resource of desperate
imbecility. It was with feelings therefore of
pity and regret that we read in a CotempOrary
Journal the following passage The tradee.
which regulates the profit of every other, the'
trade in corn, remains silbject to restric-
tions, imposed merely to put .money into the
pockets of the men in whose hands the Govern
merit of the country is placed." Thal this is an
atrocioes calumny upon the integrity of Parlia-
ment, it would be loss of time to proceed to
show ; our abhorrence of it -in that char#-
ter is however overpowered by the contempt
we feel towards it, when 'viewed as a de.
"'liberate and gratuitous insult upon the good sense
of the community. 'Fite man who Call.hazard the
assertion that the' most obvious, w
as well as the
'highest interest of the A ristocraCy of England is
any other than the prosperity and greatness of
the country, must be cursed with such an intel-
lectual debility, or such a moral perverseness, as