The Sun.
London, England, 1826-02-20 00:00:00

was the proper and natural ally of Government.
'To impart to that corporation such powers as
iwould make it an efficient ally for the purpose
in view, was a measure not only necessary but
altogether unobjectionable. Any apprehension
of the Bank of England abusing this power wilt
be removed, if we reflect, that having long pos-
sessed it, its own policy has been to refrain from
exercising it st all—a policy from which it has
been induced to deviate only by the pressing and
immediate exigencies of the country. Govern-
ment hatfromptly adopted a measure to remove
the only obstacle that appeared to obstruct the
progress or endanger the success of their avowed
design, that of extinguishing the small note cir-
culation in the course of three years.

[THE TIM2s.)
Ireland and her grievances took the field in the
House of Commons on Thursday last, but with
diminished force as to numbers and excitement,
when compared with the mustering of both in
former sessions. Yet, although the subjects agi-
tated were of local and unpretending rank, we
are not disposed to consider them as of less in-
trinsic importance, than others which have made
more noise in the
discussion, and have furnished
more food for the struggles and animosities of
party.—Sir John Newport, who is always at his
post, although the influence which he exercises
lover the minds of those about him does not seem
to increase with his years and experience, brought
forward a resolution, the chief use of which was
to call forth from Mr. Goulburn a prospectus
of the measures which are in preparation by
Government for correcting a variety of abuses.
The resolution of Sir John Newport was de-
claratory -that large sums had been levied on
account of church rates, and distributed among
parish officers, contrary to statute regulations.—
The Right Hon. Baronet, if his facts were true,
laid strong ground for his motion, stating that en-
ormous charges had been made upon parishioners
in several parts of Ireland, and the fruits of them
converted to the benefit of parish-clerks, sextons,
&c., in the shape of salaries not allowed by law,
disproportioned to the services performed by those
underlings, and wrung indiscriminately from a
mixed population, of which much the larger class
were of a religion which acknowledged no utility
whatever in the objects to be effected by such a
diversion of the public money. It is obvious,
that if the clergy of tint Protestant Church
are to be supported as an established clergy,
they must derive a large share of their revenue
from those who gain nothing by their spiritual
labours. With regard to Catholics and other
Dissenters, therefore,—of which latter class, by
the way, the Presbyterians exceed in number
the Protestants of the Church of England,—all
we can recommend is, that every practicable in-
stigation should be given to the working of a
principle in itself the reverse of conciliatory.—
The offence of tithes and church rates for pur-

poses exclusively beneficial to the establishment,
ought to be studiously softened, not sharpened,
by the most cautious provisions against abuse, by
the mildest course of exaction, and the strictest
integrity in their application. If these ends
shall be effectually promoted by the new law for
the regulation of church rates, of which Mr.
Goulburn has given notice, essential benefit will
be administered to the mass of, society throughout
Ireland, and a wholesome supplement will be
added to the new law for the composition of
tithes, which, so far as it has yet proceeded.
seems to have spread the spirit of harmony and
good-fellowship where discord had hitherto pre-
vailed.

EtiEW TIMES.]
The lamentable catastrophe of an eminen
House connected with South American Luaus
will, it is to be feared, create an alarm as to those
securities in general. It will be well, therefore,
to reflect a little on the circumstances respecting
them ; for if we were at one time too confiding,
that is no reason why we should be at another
time too suspicious. The era of speculation in.
these concerns began in 1822, when a loan, of a
million was raised by a respectable house
don for the Chilean Governr►►e►st ; two millions
by another eminent house for Colombia; and a
smaller sum by a third house for Peru. In 1823
things went on very favourably, and the instal-
meats were regularly paid. In 1824 the system
of loaning was .warmly followed up by most of
the South American States.; Colombia raised
4,750,0001. and Mexico 3,200,000/. Brazil,
Buenos Ayres, &c. took their share, and thus
the whole of the debts contracted fur by the
South American States amounted (it is calculated)
to twenty-one millions sterling. We must say,
we think there was at the periods of which we
have been speaking, a sort of mania for lending ;
but let us take care thn►t the mania does not now
take an opposite turn. It is much to be feared,
that too many of these Bonds are held by females,
retired tradesmen, and other persons of small pro.
perty, who, at the time the interest of our own
Funds was reduced, gladly purchased into these
Stocks, as the only means of keeping up their usual
income. Such persons will be but too easily
alarmed, if any diflicully should occur, whether
from the failure of a Contractor, or otherwise.
They should, however, consider, that there is a
class of speculators, no less active to depress,
than others to raise, these Stocks ; they should
reflect that the South American Stocks are as yet
inexperienced in finance, and therefore momentary
hesitations and impediments may be expected of
them; but we have no reason to believe that their
Governments have the least disposition towards a
breach of public fni►; still less is it to be suppose d
that countries possAsing so many natural advan-
tages, anti blest with independence and free in-
stitutio►ts, will not soon attain the means of dis-
charging all their obligations. We certainly
should not advise parties to embark in any new
projects for lendi►g money to those States ; but
►he present holders of their securities ought not,
we think, to give way to unmanly fears at the
first cloud which passes over prospects they once
deemed so brilliant.

[MORN INO cH ONIC LE.]
Lord Liverpool, on riday night, observed,
that " there ware different theories as to the
cause of distress—for, while'some persons attri-
buted all the• evils to speCulatiOn, others attri-