The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-10-20
Our London Correspondence.

Death of Lord Bentinck-Sympton OF a Great |
Social Reroiutiom tn England Chartist Trials
Continental Matters Am1icam Stocks, &c.
The death of Lord George Bentinck leaves the
Protestant party in Parliament without leadey
His services in the cause in which he had en-
barked earnest and energetic, but unava ling,
as being opposed to the spirit of the times. They
are said to have been more the prompt ngs of a
spirit that sought to avenge certain real or imag-
nary injustice done to the policy of tie late Mr..
Canning, by Sir Robert Peel and his party, who,
during that statesman's lifetime, opposed, and sub
sequently adopted it. Mr.. Canr ng was, by mar
rage, the uncle of his ordship. who at one time,
remarkable zeal and ability. 1t is not intended, at
the present moment, to add any biographical ac-
count of his lordship, further than the mention OF
his family having como; INTO this country with
told the Britshers, on his arrival, in his own I'M
perfect English, " have come for your goods
William Bentnck ef Overyssell, In Holland, ances-
tor of the deceased, followed IN the train OF Will
ham, as page Of honor, and subsequently became
his confidential adviser, and was quickly promoted
TO places OF ymolnment, and ultimately TO the
peerage. Inehe memorable and sanguinary strug-
Gle in Ireland, with which this soverelgn's name
is and ever will be, prominently associated, Will
liam Bennnck's counsels were largely followed
The PERIOD is not so distant but that this fact, and
others affecting the destinies OF Ireland, may have
operated, IN certain measure, In shadowlng forth
the stringent line of policy his ordship considered
as imperative of adoption, tor the welfare OF the
country. The anxious desire he manifested, in
the spring OF the present year, to gather an Irish
party TO JON Issue with his own, to carry mea-
sure into Parliament tor an outlay from the lmpe-
rial treasury, for the extension OF railways, the
Improvement of harbors, and the reclamation of
waste lands has recently been quoted as his earnest
for the future well-being OF ireland. Whilst this
fest cd wv rdSh,p
sistance emphatic against any change which
would affect the interest OF those institutions which
are the real cause of the greater part OF Its grev-
ances. 1t is considered, 10y many, unfortunate, as
deracting from general regret at the loss of the
life Of a man so honorable IN all the relations OF
private ie that he should, almost on the threshold
of eternity have given utterance to those feelings
in the British Parliament which were intended to
add TO the ryets of the letters of the unfortunate
Mitchell. Ii is painful, and almost repugnant to
Christian charity and feeling, that circumstances
exist that should cause the mind to conte mpate, or
to doubt tor an instant, how Tar the death OF such
statesman is public loss. A retrospect OF the last
three years exhibits him as the strenuous oppo-
nent of that measure, conceived and tructted IN
justice and humanity, that gave the poor means OF
procuring, by honest labor, an abundant supply OF
food, at a reasonable price. 1t likewise shows
HIM the INSTRUCTOR OF those legislative measures
which were to extend the course OF Justice, by
bringing sugar, another necessary OF life, within
the reach of the poor man. to prop up the proiigae
sqandenngs of the West India interest. These
were only two of those details in policy which he
supported, and which had for its object and end
the establishment of formidable barrier around
his own country, that should keep separate those
general and reciprocal interests which are bounded
only by the surface of the globe, and which the
spirit of an enlightened age seeks to break down
and destroy. His home policy, especially as re-
garded Ireland, was equally in opposition to the
new and better conditions which must, ere long,
exist 1t is not denied that he was sincere in his
principles and his belief of their justice. He has
labored hard for their establishment, even at the
cost OF his life, which the cares and anxietes of
his position have brought to its present premature
close.
In the ful6lment of the duties of the writer to
the columns of the Herald, 1t is proposed to lay be-
fore the reader account, supported by proof, of
the remarkable and immense depreciation OF every
kind of stock and property, that has taken place
within the last few years. 1t one that has been
going on iimPercepnby to the multitude, and also
one which threatens in its results change of the
most important kind Take first, the case OF twelve
established Scotch railways, which it is unnecessa
~ here to enumerate, where official documents show
millions sterling. within fraction, at the present
market price. Two among this number, namely:
the Caledonian, shows a loss OF nearly two mil
lions, and the Glasgow and Ayrshire OF one mil
lion sterling. The amount of the joint loss Is
equal to oRe-third of the capital, which, in round
numbers, is near upon twenty millions. How has
this loss arisen, In country whose people are re-
markable for clearness of calculation before en-
of rigorous economy in management! Nor is
the PROSTATE condition of similar property Eng
land less alarmlng-for here Is found deprecia-
ton of sixty millions sterling, being also sacrl-
flee Of about third of the capital. Before going
into the general question, as to the cause OF this
decline, it may be stated that the abundance of
money in the autumn of 1915 gave an immense
impulse to railway undertakings, and brought into
the field variety Of competing lines to such as
were already established Some OF these projects
succeeded IN gaming the sanction of the legisa-
ture for their construction, which may have had a
partial operation In producing thetpresent state OF
things. Another cause may have arisen from that
laxlty of management IN the higher places OF the
direction, which has lattery often deserved the
Reproduction of the shareholders and the public.
But II is not railway property alone that has thus
suffered; for, IN ls45, consols than reached
hundred, and in some cases one hundred and two,
and the price, at the present day, is only eghysx.
When the securities of the government give way
IN startling manner, il is time that proper
investigation should take place in the public mind,
to ascertain the cause. Although the debt of the
nation Is still nominally eight hundred millions,
the market value has reduced 1t to- SIX hundred
and forty millions, showing loss OF one hundred
and sixty millions sterling In other words, IT has
lost onefih of its value 1t requires only slight
stretch of the Imagination to hear the reader sur
Its own debt. A couple Of years added to such q
SPECTATORS life will prove his mistake, tor, will
be presently shown, 1t only requires good har
vest in England to show him, these same con-
soils, which are now eighty-siK, dropped down
probably to nifty These are not q. that come within
the downward category. Bank stock has suffered in
the ppoporton also the shares Of nearly all the
joint stock companies In the country To unrave the
Mysteries Of these decensons the talent Of host Of
political economists and scrbblers has been engaged.
Some Of them ascrbe 1t to the failure of the potato
ia 1916, which sent such Of treasure abroad to
purch corn. Some estimate the loss as low as
twenty millions whilst others rate 1t at sixty. Still,
there Is vast dhere nee, between the large
and the joint Losses already enumerated And again,
the then high price Of wheat has been succeeded BY
low prcee and still change for the better has taken
place in stocks. The revolutions the continent,
and the troubles of the government at home, and In
Ireland have nothing to do with K, for these
events occurred since the fall IL has also been urged
that undertakings OF various kinds have proceeded too
rapidly, and acting this opinion with the view Of
working favorable change, they have been stayed,
nd still with effect, the depression continues to
deepen, the constant cry Of sanguine
and interested parties that they are at the werst and