The Sun.
London, England, 1842-04-23 00:00:00

THE NitTIONAL DEBT.

(From the Renfrewshire Reformer of Saturday.)
On Thursday evening, Mr. Wallace was to move
for a Select Committee to inquire into the effects pro-
duced on the industry and capital of the country, and
on its ability to bear, in the present depressed state
of its trade and manufactures, the amount and pressure
of taxation now required to pay the interest of the
National Debt, and the rapidly-increasing public
burdens, in a metallic currency, to which heavy
additional charge the nation was suddenly subjected
in the • year 1819, in consequence of Parliament
hastily agreeing to convert the immense amount of
depreciated paper money, resorted to during a long
war, into a metallic currency, according with the
ancient standard value of gold.
In addition to the above, Mr. Wallace has given
notice for a return, showing, in columns, the amount,
in round numbers, of the National Debt in each year,
and in each ten years, since 1789 to 1842 inclusive.

Also, as above, the average price of the Three per
Cent. Consols in each of the years, or as near the
average as can conveniently be given.
We trust the Member for Greenock will succeed
in carrying both motions, because it is to the amount
of the N-ational Debt, and the taxes required to pay
the interest, that the nation is mainly indebted for
all the evils it labours , under, and this burden,
and the ruinous consequences that have "followed it,
have been greatly aggravated by what Mr. Wallace's
motion properly expresses, " the converting of a
depreciated currency resorted to during the war into
a metallic currency ;" or in other words, making the
depreciated notes not worth more than fourteen or
fifteen shillings each, payable in sovereigns worth
twenty shillings.
Although our stupid Tariff and Custom-house laws
have had much influence in producing the present
wide-spread misery, their evil influences has been
but slight compared with the enormous burden borne
by the country to pay the' interest of the Debt;
a burden greatly aggravated by Sir R. Peel's mea-
sures of 1819, for converting the paper fourteen shil-
lings, promises to pay, into the value of sovereigns.
From that period to the present the country has never
known five years' steady business at a time. The
twenty-three years which have elapsed have been a
constant succession of ruinous convulsions every few
years, each paroxysm worse, and longer continued
than its predecessor, and every throw sinking
the working population some degrees below what
they were left by its predecessor. During the legis-
lative career of Sir R. Peel, which we have alluded
to, device on device to amend the evil has been pro-
jected, and scheme upon scheme has been put in exe-
cution to avert its influence, but without effect. Last
year we had the proposals of Lord John Russell, and
now, when the disease approaches a climax, we have
the new proposals of Sir R. Peel, Which at the best
can but shift the load from the one shoulder to the

other.
We have again to express our hope that. Mr. Wal.-
lace will obtain his Committee to inquire into these
questions ponnected with the working of the debt,
though we •should have been rather more certain of
success had his motion been deferred till the new
tariff is put fairly in operation. We are quite
aware that whether it is Sir Robert Peel or Lord
John Russell that is in power, they have no alterna-
tive but to go on—they must do something to relieve
the manufacturers, and that only at the expense of
the. landholders; but we wish no unnecessary alarm to
mitigate the measure. We wish but all the benefits
of the tariff secured, and although Mr. Wallace should
be defeated for the present, we are quite certain, as
soon as the fruits of that measure are but experienced,
he will,find abundant support for his Committoe to
inquire into the workings of the Debt.

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DUDLEY.--A dreadful affray occurred in this town,
early in the morning of Tuesday, the 12th inst., between two
brothers-in-law, named James Bunn and Solomon Robinson,
which terminated in the death of the latter. On their way
together a quarrel ensued between them, and on going out to
fight, Robinson was knocked down by Bunn. When he was
down, he ( Bunn) commenced kicking him most brutally_ in
the abdomen till he was in an appiiently lifeless condition. The
poor fellow was taken home and every assistance afforded him
but all efforts were unavailing, and after suffering great torture
he expired on Wednesday morning. The inquest was held be-
fore Wm. Robinson, Esq.., when the Jury returned a verdict
of "Minslaughter " against Bunn, and the Coroner made out
his warrant of committal. He is accordingly now in Worcester
gaol, and will take his trial at the forthcoming assizes.
Worcestershire Chronicle.