The Sun.
London, England, 1842-02-04 00:00:00

. .-----..---- .
/I / 5 C.-----13111414;717
•
. ~.
,e-Vto's ~,%(,,,,,,.
•,.. ,---fr
0
t I 1,31 ••••;., iß)'' -'‘ll.i. ' '!''''
• • 111111. . r 1
•
/ • I
...,,r„
,;_......„„ k,
......„ ; , 1111 r :4)
:-!t„., A --' --'"
11'
l' ''''';
r, i-0 -i'' Olt Art%Sl ‘,Nir t
• ..- -#l';:c.;:V.,_ =
/ 1.1 . ti.!W 17, .‘ - 1-1 1f it.. ,•,
, ,
,ri,,..,,,,
ms , .
._)7,11F,,
.., , ~ ----,....k-, • , . ,
,ffloirl--/ Tst.".ol:l/4411rnhi-, -----"L.111111k.
, ,
~
- _ , - ---:--- am"- ii. I'l - -,;:!frs--:''-1)2101T 1,--)- .?.. - A - ,
_

PRICE 5d

Duke of Buckingham's explanation of the cause of his retire
ment from office, that full justice will be deneby the Con.serva:-
five Ministry to every legitimate claim of the agricultural interest.
FROM THE EVENING PIPERS OF YESTERDAY. '
GLOBE.—Extraordinary pains are being taken by theConseei•
live press to convince people of the fact that, though. the Dul4
of Buckingham has receded from the Ministry, he is still its
friend, and that he will do nothing whatever to thwart itsgenel-
ral policy. This intimation of the Duke's future count
says but little for the independence of his Grace's character,
since it is impossible that hire intentions can be known
unless' there has been some understanding between his former
colleagues and himself, enabling the organs of the Government
to announce that the " farmer's friend" is still to give his, sum
port to the Ministry. It is not often that a member of a Cabi.
net can secede from it arid- Still remain its friend, and, in fact,
as • the sweetest wine makes the sourest vinegar, it may
be laid down as a general rule, that an alienated friend becomes
frequently a bitter enemy. Stanley and Graham, after '
ing the Whig Administration, were never satisfied till they
succeeded in overthrowing it, and the Duke of Buckingham
can hardly be expected—if his separation from Sir Robert Peel
A not a mere trick—to feel anything but soreness against col-
leagues who have rejected his advice, and turned him off in pre-
ference to adopting it. It is at all dents strange that the
Duke should have quitted the Cabinet under circumstances
which enable the organs of the Government to announce that his
Grace will still give it his support. And we can only perceive in
the affair of the Garter a loop- hole fur getting out of the mystery.
It is not very creditable to the Duke of Buckingham that he
should be pretty generally understood to have his hands tied
instead of his leg, by the Garter in question; and that he has
consented to rceive it as the livery that shall mark his continua-
tion in the service of the Minister who gives it him. is this
Garter that prompts the Duke of Buckingham to sing, or al-
low others to sing for him.
" So warmly we met, and so fondly we parted.
That which was the sweeter e'en I could not tell,
The look that at meeting Peel's sunny eyes darted,
Or the gift of the ribbon that marked our farewell.'
If his Grace really coincided with Sir Robert Peel nn-all ques-
tions but that of the Corn-laws, we could understand a gyve-
ral cordiality being consistent with a special alienation he-
tes-eon the two men ; but when we happen to know, that upon
the only matters with regard to which the Premier's inten-
t ons have transpired, the Duke of Buckingham maintains
whol y opposite views, we cannot trace the continued adhesion
of the latter to any other motive than the one we have already
hinted at. Upon the Corn-laws Sir Robert Peel has made
up his mind, and here his latecolleague and himself are unde-
niably at issue, while upon the factory question we find, from
the Times of to-day, that the Premier has come to a resolu-
tion, in spite of all his bowing and scraping to the short-time
gentry, entirely opposed to their views, and to those of the
Duke of Buckingham,who declared his concurrence in all of them.
It is clear that the Tory organs are either premature in statine.
that Sir Robert Peel's Government will have the Duke ofi
Buckingham's support, or that the latter is so held by the leg
through the medium of the Garter, that he is not at liberty to
go in any direction he may desire. We shall not venture to
decide so nice a question as that which turns upon the Duke's
independence or his consistency.
STANDARD.—The usual topics of congratulation are, it
has been seen, fully noticed, and those incidents that are
p..culiar to the time have a proper consideration. The aus-
picious birth of an Heir-Apparent, and the high com-
pliment paid to our Queen and to her people by the
personal attendance of the great head of the Protestant
family upon the Continent, a Prince as eminent for his amiable
qualities and private virtues, as for the high place in the
world which he so worthily occupies, are spoken of in terms of
becoming gratitude and exultation. For the rest the Speech
is frugal of promises. The Address speaks for men who have
the confidence of the country, and who are under no neces-
sity to borrow a transient oblivion of their misconduct
by engagements which they do not intend to respect, or
by diverting the public mind from the real business of the na-
tion. What the nation wants is rest. We have had more than
ten years of empirical government, and the lesson which the
advisers of the Crown draw from the long series of mis-
chievous er unprofitable experiments, is the conclu-
sion that the Lime for a suspension of the experimentalising
course has at length arrived. The urgent question of the
Corn-laws indeed requires that these laws be taken into
consideration, not with a view of abandoning, or even modi-
fying their principle, but in order to give full efficacy to
that principle, now for the first time submitted to the trial
of successive unfavourable seasons. It has been found
upon this trial, that the regular succession of figures in the
sliding scale does not ensure a corresponding regularity
of adaptation, but the reverse ; and means will be proposed to
remedy this defect by substituting in the higher division of
the scale for the terms which now enable the money specu-
lators to oppress the native grower on one aide,
and to deprive the consumer of the full benefit of the
law on the other, different terms, which shall facilitate the
introduction of foreign grain when necessary, but only when
necessary, without depriving the people of any portion of
the advantage intended for them. If this object can
be effected, as we trust it will be, a vast reinforce-
ment will be afforded to the principle of protection,
and native agriculture will obtain a security that
must ensure its rapid advance to a point at which, defying
competition, the existence of the Corn-laws will be scarcely an
object of care to any one. Law Refornt.—that reform which
ought to have been the first of all reforms, but which has been
neglect( d by the reforming Gorernmehts of the last ten years—
can cause no interruption of the national rest, no distraction of
the attention of the Legislature from urgent duties ; and it will
therefixe be resumed under the happy auspices of a Prime
Minister who has been the first effectual law reformer during
two centuries. The legacy of financial difficulty which the
present. M;nisters have inherit: d may well occupy the attention
of the Parliament ; and doubtless Sir Robert Peel's
Cabinet will make an important step towards providing for
the embarrassment, by limiting, as far as possible, the subjects
to be offered to the Legislature. The necessity of rest, the
urgency of the Corn-law question, and even more
pressing urgency of the financial condition of the
country, burthened with its Whig-Hadical legacies of debt and
war, w ill account satisfactorily for omissions,. in the
Royal Address, which we iliould lament as earnestly
as others, did we suppose them to proceed from the fixed
determination of the Ministry. But tyre of these omissions—
we speak of a modification of the New Poor-law Bill, and of a
limitation of the hours of labour in factories—may be other-
wise accounted for, we apprehend, upon the ground that the
public mind is not as firmly and as universally made up upon
them as it ought to be before they can be wisely made the
subject of legislative interference.

MONEY MARKET and CITY NEWS.
We were compelled to omit the following from the
Mornin,,,,r Papers of yesterday :
POST.—We regret to learn that the agents of the
North American Trust and Banking Company (New
York) do not pay the coupons (Inc on its stock, the con-
cern being "in the handsofithe lleceiver-General at New
York," This announcement is made known to us by
the trustees of a party whose bankers, twy years ago,
embarked the whole of his property in the Stock as a
safe investment, at the rate of 941. money for every 100/.
of paper. The individual is, with his family, lately gone
to the Continent, and the letter that advises this fresh
American suspension will, at the same time, intimate to
him the awful truth, that he and they are thereby, in
an instant, reduced to a state of indigence. The suf-
ferer in the present case is an accomplished private gen-
tleman, who, having succeded to a fortune, made, in corn-
trm with others, this unfortunate disposition of it.
It is thought that these repeated wounds upon the
property- of British subjects, through foreign defalca-
tions, will include within their fatal influence such a vast
number of persons, that the interference of the Legisla-
ture cannot much longer be delayed, without great de-
triment to the interests of the public at large ; for, in-
dependently of the individual injury inflicted, the
derangement of the monetary affairs of the country,
caused by such a state of things. is obviously a fair
ground of popular discontent and popular resentment.
It is quite evident that the evil is not one of those which
may be safely left to work their own cure.
The system of foreign loans must not be altogether
condemned ; but if it is to be continued, it must be under
guarantees and regulations—under such securities as
may serve to protect the credulous and the simple, who
form, we presume, the majority of a community.
TIMES.—The merchants connected with the tobacco
trade have found the cessation of the exciseman's visits
to the manufacturers of tobacco to be of such injurious
tendency, that the trade in the best kinds of leaf is in
danger of being stopped altogether, while the revenue
suffers materially, and will suffer still more, by the
diminished importation of tobacco, which is used less
and less as the practice of adulteratioh increases—a prac-
tice which was much checked by the visits of the excise- I
men. In some instances, it is said, there has not been above
40 per cant. of tobacco in the article sold by manufac-
turers under that name, and those who desire to adulte-
rate especially choose the inferior kind of tobacco, as it
is better qualified to combine with the spurious mate-
rials than the superior sort. An admission which
was made the other day at one of the police courts,
where it was
.said by a manufacturer that tobacco was
sold at 2s. 9d. per pound, called much attention to this
subject, as the ;price showed the prodigious extent to
which adulteration might be carried. For in the first
place the duty on tobacco is about 3s. 2d. per lb. ; the
best " strips," as they are called, cost 9d., and the in-
ferior leaf fid., and the expense of manufacturing is
about 4d. Therefore, if the proper article is used, the
manufacturer cannot possibly sell under 45., and then he
will not gain a farthing of profit. If,- then, he can afford
to sell at 2s. 9d., and gain a profit by such sale, it is
to perceive that the proportion of spurious material
great
itm indeed, to the detriment of the re-
venue p fro this source of perhaps nearly 50
useti ;Host
ee beed
per cent.
FROM THE .MORNING PAPERS OF THIS DAY.
POST.—There was to-day an improvement of per cent.
in the value of the English securities. Money was worth 3
to 4 per cent., but there was very little doing either in Stock
transactions or in Loans, the general suspension of business
being caused, to a great extent, by the points mooted as to
what would, in all probability, be the leading features of the
Queen's Speech in Parliament on the opening of the Session,
although, on this subject, the anticipations of the moneyed
interest seem to have been very fully bonze out by the result.
The principal bearings of the Speech are more than ordinarily
economical, or commercial, and they certainly convey the as-
surance that measures calculated to mitigate the pressure
which is just now found to rest so heavily upon the mercantile
energies of the community will be brought forward, yet not
without a due regard to the deranged condition of the national
financies as bequeathed to the present Government by the an-
tecedent one.
CHRONICLE.—The Royal Speech possesses one merit,
however, which we willingly award it. It is an assurance to
the friends of free trade that their opinions are triumphant.
No sophistry can destroy that fact, and we rejoice at the tri-
bute of praise which the principles of free international inter-
course have thus extorted from their foes. There can be no
more attempts to dispute the great extent of misfortune and
decay which pervade all classes of our manufacturing popula-
tion—no more references to savings' bank figures and statistics
to prove that the country_ was really prosperous if the people
only would believe it. Truth has come out at last. The ex-
tent and danger of the national malady are at length avowed.
It is earnestly desired that the revision of the tariff on im-
ports may be vigorously proceeded with, and that the Macgregor
scale of consolidation will be adopted. All depends on the extent
to which the change in the Corn and Provision-laws is carried