The Sun.
London, England, 1842-12-01 00:00:00

i,tronteL',ibition

SUN OFFICE Three o'Clock.

With the charming unconsciousness of com-
plete ignorance did the Morning Post, yester-
day, give the very highest praise to the system
of free trade, and pass the severest censure pos-
sible on the system which bears the name of
protection. " The lowest possible range of
prices," said our Contemporary, " is the great
object of the free-trade scheme of production. A
high range of prices is, on the contrary, the
avowed end of every protective system." Price
is synonymous with cost; it signifies trouble and
pain. All price is, and ever has been, paid by
labour. To lower price is to lessen the cost, the
trouble, the labour, the pain of producing com-
modities ; and to say of a system that it has for
its object to effect the lowest possible range of
prices, is to say that it aims at supplying man-
kind with all kinds of commodities at the least
possible cost, and with the least possible labour.
That, undoubtedly, will be, and must be, the
result of the free-trade scheme of production,
and higher praise it is impossible for human lips
to bestow.

That is the great object which all statesmen
profess to keep in view. The Corn-law itself is
defended on that ground. It is said to place the
necessary supply of food in our own hands, and
in the long run, therefore, to secure that supply
more certainly and more cheaply. Very often
has it been written in the Monopolist journals—
" Once make the nation dependent on foreigners,
they will watch their opportunity, and when you
are much in want they will withhold the supplies
till you give them a most exorbitant price, or
your people are actually starved." The Corn-
laws are defended because they procure corn for
the people on the whole at a less cost, less trou-
ble, and with less labour than the people could
procure corn without them. All other laws are
said to have the same object, and a law which
should be avowedly intended to enhance the pain,
labour, and cost of obtaining commodities, would
be erased from the statute-book as a disgrace,
not merely to legislation, but to human nature.
We know nothing like it, except the reported
wilful destruction by the Dutch-in former times
of the produce of the Spice islands, lest condi-
ments should become too cheap in Europe.
That is always mentioned to their discredit, and
is considered so diabolical that good men refuse
to believe it.

To obtain the lowest possible range of prices
is the assigned object of the protective system,
as well as of the free-trade system. It is and
must be the avowed or pretended object of every
system. Every agricultural improvement,
whether it be in making better ploughs or in
draining land, or in a different rotation of crops,
ends in producing food for man at a less cost.
The inventions of WATT, and researches of
DAVY, have the same ultimate object, and no
other. The effects of the steam-engine are
too palpable to need a word; the beautiful
lamp of the latter prevents danger, and lessens
the expense of working mines. In the end it
gives us coals at a less cost or at less labour, and
having coals at a cheaper rate, we have more
labour or means at our disposal to get food. To
reduce cost, trouble, or labour, is the end and
aim of all the ingenious contrivances of mankind;
and free trade recommends itself to us, because
it is, as the Post admits, coincident in its object
with the noblest exertions of htiman genius.
If what the Post says of the protective sys-
tem be true, it would be really and truly as
diabolical in its aim, as we say it is in
its effects. That system is not avowedly in-
tended to keep up a high range of prices.
We have some doubts whether on the whole
it does that. It limits the supply of
food, increases the difficulty of getting bread,
and annually starves a great number of people.
That is its chief operation ; but what prosperity
it stifles—what ingenuity it cuts off—what pro-
digious misery it causes, as the consequences of
starving a portion of the people—no tongue,
however eloquent, can deseribe,—no human
mind even can appreciate. When the people
are starved down to the supply, as they are
pretty nearly at present, the cost, the trouble,
the pain of obtaining food becomes again about
the average, or prices fall, as at present, in spite
of the protective system. But whatever may be
the effects of that system, no statesman would avow
that its object was to enhance the labour and
trouble of obtaining food for the community.
From gross ignorance the Post has really ma-
ligned the object of the protective system as much
as it has unconsciously praised the system of
free trade.

The speech of Mr. COBDEN at Sheffield on that
thread-bare subject the repeal of the Corn-laws,
will be read with interest. It gives a cheering
prospect to those who have so long laboured for
the best interests of the country, and leads to the
belief that the present Government. do not so
much want inclination as power to put an end to
class legislation. It is gratifying to find one op-
posed to many of their measures throwing
off all party considerations, and giving them
credit for good intentions as well as good
deeds ; but it is still more gratifying to
find that a large portion of the aristo-
cracy, and those the most respectable of the
body, are anxious to legislate impartially, and
to mete out equal justice to the manufactur-
ing and landed interests. We refer to his
speech, for a list of the wealthy and powerful
families, or their relatives, who are opposed to
the selfish doctrines of the more needy and
unprincipled portion of the aristocracy. The
example and the aid of such men cannot
fail in time to awaken the rest to their true
interests, and remove from a body that
should be above suspicion, the reproach
of passing laws rather ror evil than for good,
and of endangering their very existence by. a
habitual disregard for the welfare of the com-

munity. Were they to deal justly between man
and man, and imitate the example of the RAD-
lions and FITZWILLIAMS, and many also of the
Tory nobility, they would find the people their
best supporters, and thereby avert those dan-
gers which at every popular outbreak threaten
one, if not two, estates of the realm.

The Directors of the Great Western Steam- I
Ship Company have presented a memorial to
the Lords of the Treasury, which cannot fail to
excite universal indignation. Why the late Go-
vernment patronised another party to the preju-
dice of this spirited Company, no satisfactory
reason can be riven. They were the first to lay
down, build, equip, and send to sea a steam-ship
for crossing the Atlantic; they have maintained
the intercourse between England and the
United Stated for four years, with a punctuality
and success which even their rivals cannot fail to
admire ; they have, in fact, the merit of opening
up a communication by steam with the whole
of the Western World ; yet while another Com-
pany is subsidised by the Government to the
injury of the memorialists, their returns having
been reduced one-half, they are left to struggle
on in difficulty, furnishing another proof' of the
ingratitude of Governments, and the reward
which so often falls to the lot of the bene-
factors of mankind. We cannot, for a moment,
believe that Sir ROBERT PEEL and the other
Lords of the Treasury will be deaf to the appeal.
The country owes much to this Company for the
beneficial results of steam navigation, and would
cordially concur in any grant,fbr encouraging men
whose first great undertaking astonished the
world. Want of space prevents us from giving
the Memorial at length this day, but the follow-
ing extracts will Igive our readers some idea of
the strange conduct of the Admiralty, the
wanton insult offered to the memorialists, and the
great loss they have sustained by the partiality
of the Whig Government :
" Your memorialists foreseeing that a line to and
from Halifax, continued to Boston (as a matter of
necessity), could not be otherwise than extremely
injurious to the enterprise they were the first to
set on foot, tendered to do the work advertised for
45,0001. per annum—at the same time their ma-
naging Director, in a letter written in accordance
with the printed terms for tender, and handed in
with the same, stated that no Company could un-
dertake the work within six months, at the least,
of the stipulated time,—as it would require ships
of a cortain amount of tonnage and power to con-
tend against the gales and seas of the Atlantic,
and that no Company would build such ships for
a yearly agreement only, or for a less term than
seven years. It is remarkable that the times
named were granted to the successful party, both
as to term of contract, and that of starting, and the
tonnage and dimensions named were adopted, while
your memorialists were permitted to collect from a
speech of Mr. Charles Wood, the then Secretary of
the Admiralty, in reply to a question of Mr. Hume
in reference to the grant of 240,000/. per annum to
the West India Mail Company, that they had been
led on to tender, and to give information, for the mere
purpose of enabling the Government to make a better
bargain with the party they intended to deal with.
An addition was made in the number of voyages, and
a summer communication with Quebec (which pro-
bably pays very well) was exacted, and about 60,000/.
per annum, since augmented by '20,000/. more, was
granted without any official communication with your
memorialists, beyond a formal Admiralty notice " that
their tender was not accepted."
Your memorialists think, and they believe your
Lordships will think with them, that this was hard
treatment to them. They had been at all the pains of
planning, and had incurred all the risk, trouble,
and anxiety, and expense of making an experiment
which has been followed by the most important results
to the country, and has been looked upon by the na-
tions of the world more in the light of a national un-
dertaking than a private speculation.
The enterprising effort of your memorialists, al-
though at no time remunerative to the extent hoped
for and deserved, was cheering until the line pa-
tronised in opposition to them by her Majesty's late
Government came into the field, since which the pas-
sengers by the Great Western have been reduced by
about a moiety, and your memorialists ran her through
the whole of last season at a positive loss.
Finding they could not long compete with such
odds against them, and believing that the maintenance
of a direct line between New York and England was
a matter of great moment to the financial and mer-
cantile interests of the United States as well as Great
Britain, your memorialists endeavoured to ascertain
how far a direct appeal for assistance would be suc-
cessful in the former quarter, but they soon learnt
that they had not merely nothing to expect, but that
pecuniary encouragement would be given to Ame-
rican skill, science, enterprise, and capital, for com-
petition with your memorialists ; the importance,
therefore, of keeping their Great Western on the line
cannot very well be overrated.
Your memorialists have had applications made to
them by parties connected with foreign Governments,
but they are loath to hand over the Great Western
and her machinery, which has carried her the extra-
ordinary distance of 160,000 miles, and is still as good
as ever, to a foreign Power, although they feel justi-
fied in noticing the fact, to show that foreign Govern-
ments are sensibly alive to the importance of en-
couraging steam navigation on the large scale.

Accounts from Madrid are to the 22d of No-
vember, when the capital was perfectly tranquil,
but it would appear that strong opposition will
be made in the Cortes to the plans of the RE-
GENT. It was stated at Madrid that the Com-
mittee of the Spanish Chamber of Deputies,
appointed to report on the Bill fbr a loan of 600
millions of reals, had recommended the rejection
of the Bill, and that the Report was to have been
presented in the sitting of the 20th inst., but was
postponed at the urgent request of the friends of
the REGENT, backed by the President of the
Chamber, M. OLOZAGA, in order that the diffi-
culties of the Government might not at so critical
a moment be increased by a circumstance so
unfavourable to its interests. The Count DE LAS
NAVAS had proposed a vote censuring the journey
of the REGENT, and the meeting was becoming
most stormy, notwithstanding the firmness of M.
OLOZAGA, the President, when the Minister of
Marine pronounced the prorogation of the Cortes.
According to the latest accounts, all the towns
whose adhesion to the Barcelona movement had
been announced have returned to their allegi-
ance to the QUEEN'S Government. General VAN
HALEN with his army, occupied Gracia, Sorna,
and Sanz. Three members of the Consultative
Junta had taken taken flight to the French
territory.

Advices from Figueras of the 23d, state that
order was quite restored by the energetic con-
duct of the Mayor. Girona had also returned
to its duty. TERRADAS, who, with fifty armed
men, had stopped the diligence near Jenquire,
was hotly pursued. The insurrection was entirely
confined to the town of Barcelona.

The Three per Cents. were done at 2111-16 a 9-
16, at 60 days, for 3,600,000 reals, and the Five per
Cents. at 25A 26 for cash, and 26 7-16 I A, at 60
days, for 19,200,000 reals.

The disturbances at Barcelona and the contest
between General JACQUEMINOT and PORTALIS
are still the chief topics in the Paris papers. The
Presse, a Ministerial Journal, and evidently de-
voted to the cause of the ex-QuEEN, with great
want of judgment displays alarm for the fate of
the insurgents, and endeavours to throw the
blame on the English, while the partisans of
CHRISTINA are doing all they can to encourage
the efforts of the Junta. " We were not wrong,"
says that journal, " in deploring from the com-
mencement the disorders of Barcelona, for, from
the first acts of the Cortes, his evident that these
disturbances can alone furnish ESPARTERO with
the means of maintaining in Spain the domina-
tion of England. It is possible that he may suc-
ceed in putting down the insurrection by arms;
lie could only conquer the resistance of the
Spanish Parliament by a revolution. ESPAR-
TERO will be victorious, if Providence does not
come to the assistance of unhappy Spain, and
then he will be able to act as he pleases in fa-
vour of England. He will so act, and it is al-
ready seen how be prepares the way for so doing.
If England is no longer contented with inter-
fering, by her diplomatic agents, in the domestic
affairs of Spain ; if she carries out the plans an-
nounced by her correspondent at Madrid, and
which have been confirmed in the most precise
manner; if an English fleet should appear before
Barcelona, ready to act against the untractable
Catalonians, who will not consent to allow their
manufactures to be sacrificed to England; what
occur?gill What line of conduct will France
adopt? Will she allow England to interfere by
force in the affairs of Spain, and thus establish 1

her commercial domination at the foot of the
Pyrenees 7""
According to accounts from Toulon of the
25th, the Minister of Marine has directed that
every disposable steamer, and a ship of the line
and a frigate, should be immediately despatched
to Barcelona. All these vessels were ready to
take their departure, and the Jemrnapes of the
line, the Minerve frigate, and the Grezois, Are
loce, Papin, Cerbere, and Etna steamers, were
on their way to the capital of Catalonia.
The Marseilles Semaphore of the 26th ult. an-
nounces that two of the steamers which left
Toulon for Barcelona (the Etna and Cerbere)
had been compelled by stress of weather to seek
refuge in that port on the 25th. The others pro-
ceeded on t heir voyage.
The Courrier Francais states that the Eng"
lish and French vessels, which are expected at
Barcelona, are to watch simultaneously over the
maintenance of order and the safety of the sub-
jects of the two countries. This journal adds
that an augmentation of the French military
force in the south is talked of.
The following telegraphic dispatch was
re-
ceived at Paris on Tuesday :
n MADRID, Nov. 25.
" The Regent was on the 23d at Calatayud, whe. re•
it appears, he was well received by the people. 1".
thing new has occurred in the provinces.
•
A private letter, addressed to the Nati"al
from Algiers, states that—
of the
t
After repeated postponements on account
uncertainty of the weather, the Governor-General 5e
out this morning on his expedition against the 001:
seris, which will, it is said, deliver us from AiY`,l,o
Bader, that flitting shadow after which we have been
so long running, to the great detriment of our flrittndeeir:
which would have been much better ernPl°Yelies
raising villages, and in bringing from France farm b.,
to populate them. Fears of the return of the brael
from the Sahel have decided the Governor to ell)
them.
BOURSE—PARIS, TUESDAY, N IBER
OVE3 tot
First Highest Lowest ormies.
Price. Price. Price.
..',19
French Five per Cents 119 ... 119 10... 119 • ;‘)6 50
41, per Cents 106 50... 106 50... 106 0... jpl 45
Four per Cents 101 45... 101 45 .. 101 45••• 'tip 30
3 per Cents 89 30... 80 30... 80 2.5•••4002 50
Bank of France 3302 50...3305 ...3302 50.. fi,o`
Laflitte Bank 5,000 f 5080 ...5080 —.5080 .•70-7 50
Belgian Bank
1841 1063 75...1065 ...1063 75.•
•,1031
Belgian Fives
1041
1840 1044 ... 1044 104/ .."23
Spanish Active 22/ ... 23 ... 2 / ••• los 60
Neapolitan lOB 45... 108 60... 108 45... ja
Roman,: lO4 ... 104 104 •••
RAILWAY SHARES..
Versailles, R.B 265 ... 265 '265 ••• 50
L.B B7 50... 87 50... 87 50." nip
Rouen
Orleans. 587 50... 587 50... 587 50... 50
Strasburg to Bale 2Ol 50... 202 50... 201 25... b
DUTCH FUNDS.—As STERDAM Nov. 28.
ills.
Drone .
Actual Debt, .2% per Cent
Jitto, ditto 5 per cent.
A mot t S.ndic, 44 per cent 9l vo4
Mtto, ditto, 834 percent
Commercial Company, 4% per cent 12154
Loan 1837, 5 per cent. 09% W 1
Exchange on London, One month l2 12i
Two months ....mi , 12
Hamburgh, One month 35 0774
Two months 35 62)4
Dutch Papers, Nov. 29.
HAMBURGH BORSEN HALLE, Nov 25. von*
Bills.
110
Austrian 5 per Cents.
RAunsgslioalltsusrseiarncLoenta.n,
Bank Shares
Inscription, Ist series
Russian 5 per Cent. Hope and Co., 3d and 4th
Series
Ditto in Certificates 96 0/
New 4 per Cent. (1840) 27;451
Dutch Actual Debt, 2% per Cent. ......... 51
PolishDNAenitwgt .01
..iBDc Bonds
h Loan, 5 per Cent.
3 per Cent.
Ist series, Certificate 116,0031.1%
81 8)/4
Spanish, New 5 p,r Cents.
EXCHANGES ON LONDOiv.
limatuaon, Nov. 25.-13 9, Two months 13 7%'
PETERSBURG, Noy. 13.—Three months, 37% peRCE.
RIGA, Nov. O. —Three Months, 37A,.
PRUSSIAN FUNDS.—BviLuv, Nov. 24.
csiahunld SeEnghlis,h4upoenr
dcse,nitß3o.
1045 i ell
t per cent. 102% g". 2441
Prussian
Exchange on London
Prussian State Gazette. Nov. 25.

. _.. __.
MONEY and COMMERCIAL 0
CITY, QUARTER TO Till?
of the
The Great Western steamer brings advices all
, 17th inst. from New York - the 14th, from Alontre

and the Bth, from New Orleans. be il33'
The Stock Market at New York is stated WI ond,
proving, but there was not the least foreign "eto—tioni
a circumstance which leaves room for congTattli our
as showing the increasing circumspection °ctisteS
countrymen. Business in the United re°
was not brisk, the country buyers having ve'dwith
duced means, and therefore not coming forward :„ fat
orders as usual. Besides this, the old debts
from liquidated. There is one circumstance, half
ever, which deserves notice. Bad as ;
lurid
esto.
trade of America their commerce with EDO of the
bushes a material balance against us, as olossfroeht
line-of-packet ships go out with seared)" anY is:ge°
from here, but return from New York, 84°•,• it
with produce of all descriptions. For ti'nes,
is clear, we shall have to pay in specie, debt
Since,
although the Americans are heavily
i" rrthe old
they do not send us consignments to wipe °--'d woe-
score, the bankrupt law having been fours fire
more effectual for that purpose. The exehatn ore
against us at most of the American portsi,rof tbe
likely to go still worse under the recent to
United States. obste,
The political excitement in Canada does not, with'
and the proceedings of Sir Charles Bagot, 1'.15 or
drawing the official advertisements from Jour e
Cos,ed to his Government, and in dismissing fre„oied
lerkship of the Peace a gentleman who had °Pr
Mr. Baldwin, had excited much indignation. *jot
It is stated' in the Woodstock Telegraph eriosil
Graham, Captain Talcott, and others of the A°3,,,,Ked
surveying party, who have heretofore been !loci;
on the disputed territory, passed through bead
on their way to the River St. Francis and biorstO
waters of the St. John, to undertake an OPh verif
of the new line of boundary. The Te/egraPssityo,
properly urges upon our Government the nee,etioto
immediately adopting similar measures, and Noes:
lowing the country to suffer, as hitherto., by Per, that
tination and delay. We have no doubt, helvevwill
,thee
on official ratification of the treaty, steps nioiow
taken for running and laying out the line e°".'
by the two Governments. bell°
The Timber trade was expected to improve
next spring. oirties
The Fruit trade as far as the brokers or o.bee°
selling for the merchants are concerned, has lliVing
a close monopoly, two or three wealthy firrll,sos
had the importers completely in their po"
idea of effecting a sale without their intereesso made'
never entertained, and, had the attempt beeto eftbriti
could not have proved successful. A vg°r°lot,
has now been made to throw open the lord 4111'7,
reduce the heavy charges on the sales, an „e 0 t,
should it be carried out, will necessarily be
public.
The Cotton Market at Liverpool yestercloillow°9ive
t i rather dull, owing to the accounts of he re Ole°
supplies to come forward from America• Eastern
were only 3,500 bales, at previous rates' dernalli
Counties and Dover Railways were in poor Oft
and shares generally were in less requestand,
Junction brought 184; Great North of ; Po'
Great Western Half, 621; Birmingham/ 1"
ana
and Rouen, 24i.
The transfer books of Consols close t°:clo9Yhieni;
parties seem rather inclined to go i 1095; tbr
for the opening at the current rates of 941 ,Lt ogai!
present transfer, the quotations have been
•n't, 60, Of
at 94f to 94f. Exchequer Bills have realin ; ond
525. premium. Bank Stock is quiet at to
East India Stock has fluctuated from g°lo 101;
New Three-and-a-Half per Cents. are 101 there bag
and the Three per Cents. 93/ to 94. saving
been a small purchase again in Consols for the
Banks. d vane'
Mexican Stock bears rather an imPrevedi that
since the declaration by Messrs. Liz
the Pe-
there has been no over-issue of tate
ferred bonds, and which, in consequence 301;
up to 81 and 81. The Actives are 301 t, being
For Spanish Active Bonds the price is firsnefi3
18, while for the Three per Cents. 22i tei.!at 66;
been the quotations. Brazil Stock is steV_Yvo.orid-,
:Is
and Portuguese Converted at 32-1-• Dutch
a-Half per Cents. are supported at 52%. been
The Share Market, although firm, has not been
ood
brisk. Brighton Railways are 14i, Croydant „I.,,stera
Northern and Eastern 81 discount ; Great and
are 21.1,- to 22, South Western 18*, and.s. Bank
Rouen 41/ to 5-1 premium. London Joint toc
Shares are 3* premium. AT °NS'
PRICES OF SHARES THIS DAY
Paid. Per Share.
RAILWAYS. . to ---
Eastern Counties .................. 23 ... --.... 10i
Ditto New
81 6s. ad. ' • 0 87
65 . 36i ......
Great western ...................... to -....
b 0 ... .351 ......
London and Brighton ...... ..• •.. ,0
.... to
London and South Western 41% ••• •• ...•
t. sss
London and Croydon ( Trunk)... 13i ...... ...... so
...... 3bl .....
Northern and Eastern
PaDriistatondScßroipue.... . .. ..
.....
JOINT STOOK BANKS.
SoDutihallESasetreiprn.
LoVioAnNtiinEtsSTtEogek ... .
E...x cIHOA;G..sNI3oi
and.
.........
25200: ............. .........
tWott: 147:4
CK
is no alteration to notice in our market, dive a
ransactions . ,1.1
mass consists of the following t „Owl " .
pool
d Liverrer
-5- • s—Anchester an ,
South Eastern Scrip, 18, ,
Salforot
BirmeinngdhaiNmia,
nlcBh7es;tekttlgesStehraraes, 91301.1 rm,
iAgehon,
District Bank, 101; Manchester and
Works, 511.