The Sun.
London, England, 1829-12-09 00:00:00

SPIRIT OF THE PUBLIC JOURNALS.

In our Paper of October 23, we gave the out-
line of an official report on the finances of Bra-
zil, drawn up by a commission of the Legisla-
ture. One part of that report led us to make
some remarks on the credit of the Brazilian ern.
pire in London, and the means taken to pay the
debt of Portugal, which by the treaty of inde-
pendence Brazil had engaged to defray. The
Commission declared that the Chambers had
voted funds for the discharge of this obligation,
and asked why they had been diverted from their
object by " the omnipotence of their Legation
in London." With a reference to this and
other parts of the report, the Minister of Fi-
nance, M. Calmon, entered into explanations in
the Chamber of Deputies on the 21st of August,
though the first notice of his speech which we
have seen appears in the Diario Fluminense of
the 21st of September, which came by the last
packet. The Minister replies to the Commis-
sion with considerable asperity) and justifies the
conduct- of Government. To the question,
" have the interest and sinking fund of the Por-
tuguese debt it London been paid ?" he answers,
that be, Oats willing to lay all the documents be-
fore tile Chamber which related to the subject.
Vtom these documents it would appear, that
when the usurpation of the Crown of Purtugal
took place, the payment of the Portuguese
dividends was suspended by the Brazilian Lega-
tion in Londoo, which gave notice to die Impe-
rial Government of the fact, and of the grounds
of its ptoceedinoo The. Brazilian Government
ia raplying to this notification, ordered the pay-
mons to be made as formerly. But its represen-
tative in England, conceiving that by the success
of DonMiguers usurpation the treaty between Bra-
lel and Portugal was broken, and seeing that there
teas no Portuguese Ambassador in London to
receive and pay over the dividends to the Por-
tmuesat creditors, delayed the execution of the
klikra, and wrote home for further explanations.
It should be recollected, in order to understand
this statement, that by the terms of the treaty,
the funds to pay the interest of the Portuguese
debt, transmitted in the first instance from Bra-
zil, were to be handed over from the Brazilian
to the Portuguese Ambassador, and to be paid
by the latter to the holders of the Portuguese
bonds. ,To the demand for further instructions
or explanations, the Government of Rio de Ja-
neiro replied that the usurpation of the Throne
of Portugal did not alter the obligations of Bra-
zil,—that these obligations, arising from existing
treaties, should be tuifilled, whoever was King
of Port' gal,—and that, as the dividends could
not 'oe paid to the English creditors, from the
want ofan accredited agent from Portugal, the
funds should be deposited in the Bank of Eng-
land till such aim agent should be appointed.—
" This order," the Minister added, " still con-
tinues in force, and thus the credit of the em-
pire has been sived." Nothing can be more
frank than this explanation, nothing more tran-
quillizing to the English creditor than this
assurance. NI. Calmon does not hesitate a mo-
ment about the obligations of his Government.
He does not plead the misconduct of Don Mi-
guel
in excuse for dishonesty in his master, and
accounting for delay, points out grounds of
ultimate security. It is to be hoped that if the
Emperor continues resolute against entering
into any understanding with his brother, he will
order his representative in London to come
tlirectly into contact with the Portuguese ere-
ditors, whose dividends lie professes his willing-
demi to pay, and thus save that reputation for
honour and probity which would be endangered
by unnecessary procrastination.— Times.
The Essex Herald of_ yesterday announces,
on the part of Mr. Western, that his constituents
will again hear from him through the medium of
that Paper next week. The appearance in the
field of a gentleman of Me. Western's character,
has, as might have been expected, given increased
activity to the discussion of the Currency quess
Lon. In the Paper in which the above an-
nouncement appears, there is a letter to Mr.
Western, from one of his constituents, deprecat-
ing " the inundating the country again with
pa;ser."—.. That this would (he says) produce
a short-lived prosperity I allow—but it would be
the practice °fa quack, for the sake of a tempo-
rary alleviation of the symptoms, to aggravate
the disease. Water given in a dropsy might a!-
lay the unhappy patient's cravings for a season,
and restore him to comparative ease ; hat it
would speedily odd strength to the complaint,
and render his destruction sure. So an issue of
one pound bank notes would give a momentary
stimulus to all the operations of the agricultu-
rist, and raise, for a few quarter-days, the droop-
ing, spirits of the landlord ; but deeper distress
would soon follow, and the ruin of both would
be certain and complete." Mr. Western's con-
stituent then proceeds to address to him aome-
thing like an argumentum ad hominem. " The
pressure under which the country now labours
was predicted. It has been unquestionably
caused by the enormous expenditure of Govern-
ment, which rendered it necessary to increase
the amount of the currency by issues of paper
not convertible into cash at the option of the
holders. Those public men who entertained the
political principles you have through life pro-
fessed, opposed the American war, as well as the
French war, not on constitutional grounds only
—but on the score of expense—foreseeing with
eyes too truly prophetic, that taxes, to carry on
the last of those wars, must be paid eventuallyin
a currency of, perhaps, a hundred per cent.greater
value than that of the times when they were im-
posed. How gigantic have been the strides of the
National Debt from the loans occasioned by those
wars.! When George 111. ascended the throne, it
amounted to 138 millions only. In 1784 the
American war had raised it to 250 millions ; and
in 1817 the French war had carried it to 850 mil-
lions—the Anti-Jacobin war thus increasing it to
600 millions, besides requiring the millions upon
millions levied:Within the year by the Property Tax.
Now, if the currency, by means of paper issues
not convertible into cash, could safely be in-
creased to its former amount, the denunciations
of national ruin, as the consequence of profuse
expenditure, that were uttered by those eminent
Statesmen, whom you always considered, and
whom events have proved to have been the
wisest-of their day, must be taken as mere idle
declamation. But this was not thought even at
the time by their political opponents. A vast
majority of the landowners supported the pro-
fusion with their eyes open. They were as
eager for commencing and prolonging )stilities
as the mercantile interest. They pledi • them-
selves to stake their fortunes and keeled their
lives in furtherance of the measures of the Mi-
nister. Their influence commanded and secured
majorities. They are now reaping the bitter
fruits of their own short-sightedness. The Go-
vernment of the present day, and that which imme-
diately preceded it, have been contented to incur
the odium of bringing the Currency to a sound
and healthy state; and have thusentitted them-

selves to the praise of consulting the real interests
oldie nation, at the expence of their own popularity
amonr, large portions of the landed interest."
Whatever may be thought of the mode in which
the Currency has been brought to its present
state, thew can be no question as to the impo-
!icy of any attempt to interfere again with the
standard. We repeat after an Evening Con.
temporary (the Globe), that " we should have
been well content, and so we think would the
country, if the Small Note circulation had not
been interfered with ; for its evils, very much
exaggerated at all times, were in a train to be
removed without legislative interference. But
the change has 'been effected—the sacrifice has
been made, and commerce is speedily adapting
itself to the altered state of things." It must
always be borne in mind, that the relief which is
to be obtained by once more depreciating the
currency, is a relief of one class—namely Deb-
tors, at the expellee of Creditors. It is the same
sort of relief which a man obtains, who having
no money in his own pocket, puts his hand into
the pocket of his neighbour, and thence supplies
himself. That frauds of this nature have been
already committed, more than once since the
Revolutionary war, is no reason why we should
now renew them. In no other sense than that
of a robbery of one part of the community by
the other, can a depreciation of the currency be
of any importance. The real wealth of the
country cannot be increased by changing the
value of the denomination. At the time the
small notes were interfered with, considerable
inconvenience might have been experienced
throughout the country, from the necessity in
which the Country Bankers were placid of suit-
ing their operations to the altered state of things.
But the Country Banker has long ago perfected
his arrangements, and as he must employ his
money, he will be as ready on good security,
and for a fair return, to grant accommodations,
as his customers to receive them. No one be-
nefit then can be derived from paper which is
not now derived from gold. The question as
to the national advantage of using a sub-
stitute for gold, is quite distinct from
that of relief to the country. But it is said
the public burdens have been raised by
the iteprovetnent in the currency. Those, how-
ever, who have power to depreciate the currency
have power to reduce the burdens. There can-
not surely be any necessity for disturbing the
whole relations of the country, because the allow-
ances which were raised by the depreciation are
still continued. If the servants of the state arc
overpaid, reduce them. But the interest of the
debt to the national creditor forms a large por-
tion of the public expenditure. But this must
always be considered sacred, ifany regard to 11011011 r
is entertained in the country. Besides, how many
of the present creditors purchased during the
depreciation ? Would it be just to pay a man
who )es!erday gave his sovereigns for Stock, in
depreciated paper to-morrow ? However, if a
robbery must be committed, it is not necessary
surely to rob all creditors, because it is wished
to rob one class. It would be dishonourable to
rob the national creditor, but it would add to the
dishonour to relieve the landholder from his
embarrassments at the expence of the mortgagee.
The constituent of Mr. Western calls on the
landholders " to compel the Government to
adopt, in all the departments of the State,
the most rigorous retrenchment. There is
reason (he adds) to believe that Government
is not indisposed to this course, and would
be pleased to hear the voice of the na-
tion so decidedly expressed as to leave no'
option about reducing the size and pay of all the
establishments, and.-diminishing the -salaries of
all public functionaries. We have seen seeps
taken to lessen the interest of different Stocks ;
but all-this will be ineffectual to save the agri-
culturist from sinking, without lowering the rent
of land to the standard of forty years ago."
With respect to rents, the landlords have no op-
tion. The tenants cannot and will not pay rents
calculated according to a different state of things.
The landlords may choose to call the fall abate-
ment, or deduction, or any other name they
please ; but more the tenants cannot continue to
pay than they can afford. If the present gene-
ration of landlords, or their fathers, calculated
on the permanency of the prices caused by the
depreciation, and contracted debts beyond the
value of their estates in an improved currency,
this is an evil from which there is now no remedy.
Men must resign themselves to the consequences of
their acts; and it is not peculiar to landholders
that the children should suffer for the mistakes
of their fathers. We are all sufferers from the
ruinous policy of the landholders, who seconded
the last King in his perverse obstinacy during
the American and the Revolutionary war. How-
ever, the past is past. Let us so far profit from
it as not to repeat the blunders from which we
have already suffered.—Morning Chronicle.
It not. unfrequently happens that what very
well-meaning people undertake as what they
conceive to be very beneficial reforms trench
upon the well-known principle of " letting well
alone." This may, we are rather inclined to
think, turn out to be the case with the projected
alterations in the Welsh Judicature. It cannot
be denied that the natives of that principality
are, without any exception, the most quiet and
order') of the King's subjects; and their system
of jurisprudence, however differing from that of •
the Courts, such as appears to give satis-
faction to the people, and to work well
at a moderate expence. Now, can this
with equal truth be said of the sys-
tem which we propose to give them in
exchange for it ? Here the law, both as a system
and a profession, works well only for those who
are its instruments. It has become, in many of
its Courts and operations, the most grievous tax
the people labour under; and such are its abuses,
defects, and exactions, that we are proverbially
called " a law-ridden " people. Much of this
difference in the operation of the two systems may
originate in the difference of habits and national
character of the two States—not that we ever
heard that our Welsh neighbours were one whit
less prone to sudden heats and angry litigation
than their English brethren. But the true way
of looking at any reform is, to inquire first
into its necessity, and then how far the sub-
stitute is likely to meet it. We confess that we
have always wondered how the Welsh Judicature
has worked so %veil-as it has done, considering the
sort of hands to which its operation has been
sometimes confided. Incompetent judges are
certainly not the sort of persons who are likely
to render the laws either useful or respected ;
and seeing, as we have too often done, these
appointments rendered either the inducements or
the rewards of political connection or subser-
viency, it cannot but be matter of surprise that
the system itself has not broken down under the
inadequate hands which have sometimes had to
sustain it. Yet, after all, what failure of justice
• has there been in Wales ? How do the motions
for new trials, the writs of error, and the peti-

Lions to the Home Secietary on account of un-
just sentences in criminal matters, stand, as com-
pared to those of oar English Courts ? Why,
in the proportion of not one in a hundred of
either class. Added to which, we have the
best-informed part of the population hostile
to the change ; and no part, or scarcely
none, desiring it. We cannot believe then
that when Parliament meets, the proposed
change will be effected with the facility that is
talked of, or even that it will be effected at all.
Surely there are real grievances enough to re-
form without Government taking up imaginary
or doubtful ones. The great consideration in
a question of judicial reform is—have the people
confidence in the administration of justice ac-
cording to the present system ? It is quite
clear that the inhabitants of the principality
have confidence in the present sy,tein. They
have proved that beyond all dispute by the stand
which they have made against innovation. If
the Welsh are satisfied with a system which
affects them in their properties and lives, why
should the English, whose interests are not at
all afflicted, disturb them in its enjoyment.--
Morning Herald.